Nautilus, Inc. Expands Board of Directors

Recreational Equipment, Inc. (REI) CFO Kelley Hall and Washington Post CIO Shailesh Prakash join leading connected home fitness company

Nautilus, Inc. (NYSE:NLS), an innovation leader in personalized connected home fitness, today announced that Kelley Hall, Senior Vice President and Chief Financial Officer at Recreational Equipment, Inc. (REI), and Shailesh Prakash, Chief Information Officer and Vice President of Digital Product Development at The Washington Post have been appointed to its Board of Directors effective October 21, 2021.

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Nautilus, Inc. appoints Kelley Hall, SVP and CFO at Recreational Equipment, Inc. (REI) to its board of directors; veteran finance executive brings deep expertise leading financial strategy and managing omnichannel ecosystems at several leading global companies. (Photo: Business Wire)

The appointments of Ms. Hall and Mr. Prakash come at a pivotal time for the company as it continues its long-term strategic plan. Ms. Hall brings deep expertise leading financial strategy and managing omnichannel ecosystems at several leading companies, including REI, the nation’s largest consumer co-operative. Mr. Prakash adds strong engineering and digital strategy experience and has led multiple digital growth transformations, including transitioning to and leveraging subscription business models.

"We are thrilled to have Kelley and Shailesh join our Board of Directors," said M. Carl Johnson, III, Chairman of Nautilus, Inc. "Their strong backgrounds in finance and technology are critical to further advancing our North Star strategic initiatives and accelerating the company’s innovation and growth in connected home fitness. "

About Kelley Hall

Ms. Hall is currently the Senior Vice President and Chief Financial Officer at REI, the nation’s largest consumer co-operative where she leads the financial planning and analysis, strategy, sustainability, accounting, treasury, internal audit, tax, strategic sourcing, and asset protection teams. Prior to REI, Ms. Hall was Senior Vice President, Chief Accounting Officer and Treasurer for Nordstrom, Inc. Kelley also spent nine years at NIKE, Inc. and held various senior finance leadership positions. Ms. Hall was with Starbucks Corporation from 1994 to 2008 in a variety of finance leadership roles, including several roles as vice president supporting U.S. retail and corporate finance. Ms. Hall also serves on the Board of Trustees for the Seattle Foundation. She received a Bachelor of Arts and a Master of Business Administration from the University of Washington.

Ms. Hall commented, "I look forward to joining Nautilus' Board at this exciting time in the company’s evolution and given the vast opportunity for continued growth as a key player in the connected home fitness category.”

About Shailesh Prakash

Mr. Prakash is currently the Chief Information Officer and Vice President of Digital Product Development at The Washington Post, where he is responsible for all aspects of product development and technology, including web, mobile, video, print and advertising. Under his leadership, and in close partnership with the newsroom, The Post has seen tremendous digital growth. He has also spearheaded the development of Arc XP, The Post’s fast-growing global software-as-a-service business. This state-of-the-art digital platform and suite of tools is engineered to meet the needs of publishers, broadcasters and brands and currently powers more than 1500 sites in the U.S. and around the world. Mr. Prakash has an extensive track record in senior positions spanning multiple industries. He began his career as a software engineer with several technology companies, including Sun Microsystems and Netscape, and Microsoft where he was a key member of the Bing search engine. He holds a Bachelor of Science in Computer Science from IIT, Mumbai, a Master of Science in Computer Science from Clemson University, and a Master of Business Administration from Georgia State University.

Mr. Prakash stated, “I’m thrilled to be joining the Nautilus Board during this transformational time in the company’s journey as a leading innovator in connected home fitness, creating inspiring and motivating experiences for customers across its award-winning brands.”

About Nautilus, Inc.

Nautilus, Inc. (NYSE:NLS) is a global leader in digitally connected home fitness solutions. The company’s brand family includes Bowflex®, Nautilus®, Schwinn®, and JRNY®, its digital fitness platform. With a broad selection of exercise bikes, cardio equipment, and strength training products, Nautilus, Inc. empowers healthier living through individualized connected fitness experiences; and in doing so, envisions building a healthier world, one person at a time.

Headquartered in Vancouver, Washington, the company’s products are sold direct to consumer on brand websites and through retail partners and are available throughout the U.S. and internationally. Nautilus, Inc. uses the investor relations page of its website (www.nautilusinc.com/investors) to make information available to its investors and the market.

This press release includes forward-looking statements (statements which are not historical facts) within the meaning of the Private Securities Litigation Reform Act of 1995, including: projected, targeted or forecasted financial, operating results and capital expenditures, including but not limited to net sales growth rates, gross margins, operating expenses, operating margins, anticipated demand for the Company's new and existing products, statements regarding the Company's prospects, resources or capabilities; planned investments, strategic initiatives and the anticipated or targeted results of such initiatives; the effects of the COVID-19 pandemic on the Company’s business; and planned operational initiatives and the anticipated cost-saving results of such initiatives. All of these forward-looking statements are subject to risks and uncertainties that may change at any time. Factors that could cause Nautilus, Inc.’s actual expectations to differ materially from these forward-looking statements also include: weaker than expected demand for new or existing products; our ability to timely acquire inventory that meets our quality control standards from sole source foreign manufacturers at acceptable costs; risks associated with current and potential delays, work stoppages, or supply chain disruptions, including shipping delays due to the severe shortage of shipping containers; an inability to pass along or otherwise mitigate the impact of raw material price increases and other cost pressures, including unfavorable currency exchange rates and increased shipping costs; experiencing delays and/or greater than anticipated costs in connection with launch of new products, entry into new markets, or strategic initiatives; our ability to hire and retain key management personnel; changes in consumer fitness trends; changes in the media consumption habits of our target consumers or the effectiveness of our media advertising; a decline in consumer spending due to unfavorable economic conditions; risks related to the impact on our business of the COVID-19 pandemic or similar public health crises; softness in the retail marketplace; availability and timing of capital for financing our strategic initiatives, including being able to raise capital on favorable terms or at all; changes in the financial markets, including changes in credit markets and interest rates that affect our ability to access those markets on favorable terms and the impact of any future impairment. Additional assumptions, risks and uncertainties are described in detail in our registration statements, reports and other filings with the Securities and Exchange Commission, including the “Risk Factors” set forth in our Annual Report on Form 10-K, as supplemented by our quarterly reports on Form 10-Q. Such filings are available on our website or at www.sec.gov. You are cautioned that such statements are not guarantees of future performance and that our actual results may differ materially from those set forth in the forward-looking statements. We undertake no obligation to publicly update or revise forward-looking statements to reflect subsequent developments, events or circumstances.

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