National Vision Announces Leadership Changes CFO to Depart Following Transition Period Elevates and Expands Roles of Three Key Executives to Support Transformation Efforts Announces Select Preliminary Fourth Quarter and

National Vision Announces Leadership Changes

CFO to Depart Following Transition Period

Elevates and Expands Roles of Three Key Executives

to Support Transformation Efforts

Announces Select Preliminary Fourth Quarter

and Fiscal 2024 Financial Results

Duluth, Ga. - January 16, 2025 -- National Vision

Holdings, Inc. (NASDAQ: EYE) ("National Vision" or the "Company") today announced updates to its leadership

structure that include expanded responsibilities for three executive team members and that Melissa Rasmussen, Chief Financial Officer,

will depart following a transition period.

The Company announced that the Chief Financial Officer, Melissa Rasmussen,

will be departing the Company to pursue an opportunity in another industry. Ms. Rasmussen intends to continue in her role through the

release of the Company's fourth quarter and full fiscal year 2024 financial results which is expected to occur on February 26, 2025.

The Company has commenced a search to identify her successor and, if necessary, intends to appoint an interim Chief Financial Officer

prior to Ms. Rasmussen's departure.

"On behalf of our entire organization, I want to thank Melissa

for her dedication and valuable contributions during her tenure at National Vision. Melissa played an instrumental role in helping us

navigate through a rapidly evolving business landscape over the past few years, and more recently, as we have embarked on our transformation

to position National Vision for its next chapter for growth. We wish her the very best in her future endeavors," said Reade Fahs,

National Vision's CEO.

"I am incredibly grateful for my time at National Vision and proud

of the talented and experienced finance and accounting teams I have had the privilege to lead. The company is well-positioned to continue

to execute on its strategic initiatives, and I look forward to ensuring a smooth transition for my successor," said Ms. Rasmussen.

In addition, to support the Company's transformation, enhance

the overall patient and customer experience and promote growth in strategic areas, the following changes have been made to the executive

In addition, the following leader's roles have been expanded

to align with the Company's strategic initiatives: Joe VanDette has been named Chief Brand & Marketing Officer, Jared Brandman

has been named Chief Legal & Strategy Officer, and Bill Clark, Chief People Officer will now assume expanded responsibilities in the

areas of Transformation, Enterprise PMO, and Change Management.

Alex Wilkes, National Vision's President, commented, "These

leaders each bring extensive industry and retail experience that we plan to leverage further with their expanded roles focused on accelerating

our transformation efforts and driving profitable growth in our core brands."

Select Preliminary Fourth Quarter and Fiscal 2024 Financial Results

The Company today also announced select preliminary results for the

fourth quarter and full year fiscal 2024.

Preliminary Results for Fourth Quarter 2024

Preliminary Results for Fiscal Year 2024

"We are pleased to have delivered fourth quarter adjusted comparable

store sales growth that enables us to provide select preliminary full year results more in line with the higher end

of our prior guidance ranges," continued Fahs. "Our fourth quarter performance reflects initial benefits from transformation

initiatives as well as the impact from the timing of unearned revenue. We look forward to sharing more on our results and the progress

we are making on our transformation when we report fourth quarter earnings. We have a strong team with deep bench strength, and with key

leaders taking on expanded leadership roles, I am confident that we will continue to execute and deliver on our commitment to position

National Vision for long-term profitable growth."

The unaudited financial results disclosed herein are preliminary based

on the most current information available to management and are subject to change until completion of our financial closing procedures

for the fourth quarter and full fiscal year 2024. As a result, our actual results may change as a result of such financial closing procedures,

final adjustments, management's review of results, and other developments that may arise between now and the time our financial results

for the fourth quarter and full fiscal year 2024 are finalized, and our results could vary from the preliminary results set forth above.

The Company expects to release financial results for the fourth quarter

and full fiscal year 2024 on Wednesday, February 26, 2025.

Non-GAAP Financial Measures

Adjusted Comparable Store Sales Growth: We measure Adjusted

Comparable Store Sales Growth as the increase or decrease in sales recorded by the comparable store base in any reporting period, compared

to sales recorded by the comparable store base in the prior reporting period, which we calculate as follows: (i) sales are recorded on

a cash basis (i.e. when the order is placed and paid for or submitted to a managed care payor, compared to when the order is delivered),

utilizing cash basis point of sale information from stores; (ii) stores are added to the calculation during the 13th full fiscal month

following the store's opening; (iii) closed stores are removed from the calculation for time periods that are not comparable; (iv)

sales from partial months of operation are excluded when stores do not open or close on the first day of the month; and (v) when applicable,

we adjust for the effect of the 53rd week. Quarterly, year-to-date and annual adjusted comparable store sales are aggregated using only

sales from all whole months of operation included in both the current reporting period and the prior reporting period. When a partial

month is excluded from the calculation, the corresponding month in the subsequent period is also excluded from the calculation. There

may be variations in the way in which some of our competitors and other retailers calculate comparable store sales. As a result, our adjusted

comparable store sales may not be comparable to similar data made available by other retailers.

This release includes certain Non-GAAP Financial Measures that are not recognized under generally accepted accounting principles ("GAAP").

Please see "Non-GAAP Financial Measures" for more information.

Adjusted Operating Income: We define Adjusted Operating Income

from continuing operations as net income (loss), minus income (loss) from discontinued operations, net of tax, plus interest expense (income),

net and income tax provision (benefit), further adjusted to exclude stock-based compensation expense, (gain) loss on extinguishment of

debt, asset impairment, litigation settlement, secondary offering expenses, management realignment expenses, long-term incentive plan

expenses, Enterprise Resource Planning ("ERP") and Customer Relationship Management ("CRM") implementation expenses

and certain other expenses.

Forward-Looking Statements

This press release contains forward-looking statements

within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the

Securities Exchange Act of 1934. These statements include, but are not limited to, statements related to our current beliefs and expectations

regarding the performance of our industry, the Company's strategic direction, market position, prospects including remote medicine

and optometrist recruiting and retention initiatives, and future results. You can identify these forward-looking statements by the use

of words such as "outlook," "guidance," "believes," "expects," "potential,"

"continues," "may," "will," "should," "could," "seeks," "projects,"

"predicts," "intends," "plans," "estimates," "anticipates" or the negative

version of these words or other comparable words. Caution should be taken not to place undue reliance on any forward-looking statement

as such statements speak only as of the date when made. We undertake no obligation to publicly update or review any forward-looking statement,

whether as a result of new information, future developments or otherwise, except as required by law.

Forward-looking statements are not guarantees

and are subject to various risks and uncertainties, which may cause actual results to differ materially from those implied in forward-looking

statements. Such factors include, but are not limited to, completion of our financial closing procedures for the fourth quarter and full

fiscal year 2024, the termination of our partnership with Walmart, including the transition period and other wind down activities, will

have an impact on our business, revenues, profitability and cash flows, which impact could be material; market volatility, an overall

decline in the health of the economy and other factors impacting consumer spending, including inflation, uncertainty in financial markets,

recessionary conditions, escalated interest rates, the timing and issuance of tax refunds, governmental instability, war and natural disasters,

may affect consumer purchases, which could reduce demand for our products and materially harm our sales, profitability and financial condition;

failure to recruit and retain vision care professionals for in-store roles or to provide remote care offerings could adversely affect

our business, financial condition and results of operations; the optical retail industry is highly competitive, and if we do not compete

successfully, our business may be adversely impacted; if we fail to open and operate new stores (including as a result of store conversions)

in a timely and cost-effective manner or fail to successfully enter new markets, our financial performance could be materially and adversely

affected; if the performance of our Host brands declines or we are unable to maintain or extend our operating relationships with our Host

partners, our business, profitability and cash flows may be adversely affected and we may be required to incur impairment charges; we

are a low-cost provider and our business model relies on the low-cost of inputs and factors such as wage rate increases, inflation, cost

increases, increases in the price of raw materials and energy prices could have a material adverse effect on our business, financial condition