Herbalife Delivers Q3 Net Sales Increase Above Guidance Midpoint, North America Returns to Growth; Q3 Adjusted EBITDA 1 Exceeds Guidance; Tightens Full-Year Guidance Ranges

Q3 Net Sales Increase Above Guidance Midpoint,

North America Returns to Growth; Q3 Adjusted EBITDA1

Tightens Full-Year Guidance Ranges

LOS ANGELES, November 5, 2025 - Herbalife Ltd.

(NYSE: HLF) today reported financial results for the third quarter ended September 30, 2025:

Management Commentary

Herbalife reported third quarter 2025 net sales of $1.3 billion, up

2.7% year-over-year, including 50 basis points of foreign currency headwinds. On a constant currency basis2, net sales were

up 3.2% year-over-year for the quarter.

Gross profit margin was 77.7% in the third quarter, compared to 78.3%

in the prior year period. On a year-over-year and approximate basis, pricing benefits of 80 basis points were more than offset primarily

by foreign currency headwinds of 90 basis points, 30 basis points of input cost inflation, driven mainly by higher raw material costs,

and 10 basis points each from increased inventory write-downs and unfavorable sales mix.

For the quarter, net income attributable to Herbalife was $43.2 million,

with net income margin of 3.4% and adjusted net income1 of $51.5 million. Adjusted EBITDA1 of $163.0 million includes

approximately $12 million of foreign currency headwinds year-over-year, with adjusted EBITDA1 margin of 12.8%, down 60 basis

points versus the third quarter of 2024. Diluted EPS was $0.42, with adjusted diluted EPS1 of $0.50, which includes a $0.08

year-over-year foreign currency headwind.

Net cash provided by operating activities was $138.8 million and $235.0

million for the three and nine months ended September 30, 2025, respectively. Capital expenditures were $20.8 million and $61.9 million

for the three and nine months ended September 30, 2025, respectively, and capitalized software as a service ("SaaS") implementation

costs were approximately $7 million and $16 million, respectively. The Company expects to incur total capitalized SaaS implementation

costs of approximately $25 million to $30 million for full year 2025, which are not included in capital expenditures.

As previously disclosed, and in accordance with the terms of the Pro2col

Health LLC asset purchase agreement entered into in April 2025, a contingency payment of $2.0 million was paid during the third quarter

as a result of the release of the beta version of the Pro2col technology platform in July 2025.

In September 2025, the Company repaid the remaining outstanding principal

balance of $147.3 million on its 7.875% Senior Notes due 2025 ("2025 Notes") at maturity. The aggregate payment at maturity,

including accrued and unpaid interest, was $153.1 million. As of September 30, 2025, $25.0 million was outstanding under the Company's

revolving credit facility.

"The third quarter demonstrated clear progress, with a return

to growth in both North America and on a worldwide basis," said Chief Financial Officer John DeSimone. "We also further reduced

our total leverage ratio to 2.8x, underscoring our continued capital discipline and outperformance against our capital structure commitments."

For the third quarter, three of the Company's five regions reported

year-over-year growth in the number of new distributors joining Herbalife, led by North America, with a 17% increase. While the number

of new distributors joining worldwide in the third quarter declined 2% year-over-year, they increased 11% on a two-year stack basis.

This growth reflects the continued momentum the Company is building

through strategic distributor engagement, training and product innovation. Supporting this momentum is the Diamond Development Mastermind

Program, an ongoing training and accountability program that expanded to India in August, which also marked the program's first

anniversary. Today, approximately 10,700 distributors and service providers worldwide are committed to the program, reporting increased

confidence in applying core business and leadership principles and strategies. The program will expand to include additional markets in

This momentum is further reflected in the strong attendance at the

Company's September Extravaganza training events, where approximately 57,200 attendees gathered in Tashkent, Mexico City, Delhi,

Bengaluru and Budapest. In total, Extravaganza events in 2025 attracted nearly 142,000 attendees, a 5% increase compared to 2024.

During the EMEA Extravaganza in Budapest, the Company launched HL/Skin,

a new skincare line that combines advanced South Korean science with K-beauty-formulated ingredients. The HL/Skin range builds

on Herbalife's science-backed approach to product development, with the efficacy of each product supported by clinical studies.

Currently available in select European markets, HL/Skin is also supported by an AI-powered assessment tool that delivers a personalized

facial analysis to customers in less than 60 seconds, while simultaneously providing product recommendations directly to distributor dashboards

to enhance customer engagement and support sales.

On October 30, the Company expanded beta access to the Pro2col app

to retail customers in the U.S., Canada, and Puerto Rico of distributors in the beta group. Formed following the app's initial beta

release in July 2025, the beta group has scaled to include approximately 7,900 distributors.

Concurrently, the Company introduced new features within the Pro2col

digital experience, including a coach dashboard, customizable sales funnels and a website builder to support existing distributor daily

methods of operations, as well as multiple app enhancements. Together, these developments represent significant advancements toward the

planned commercial release of Pro2col Beta 2.0 to all customers and distributors in the U.S. and Puerto Rico by the end of 2025. The Company

plans to expand the Pro2col digital experience to additional global markets beginning in 2026.

"Across our business, product innovation, digital evolution

and disciplined execution are driving momentum and delivering results," said Chief Executive Officer Stephan Gratziani. "Through

our transformation, we are equipping and supporting our distributors to grow stronger businesses-supporting progress today and

building a clear path to sustainable growth and long-term shareholder value."

Third Quarter and Year to Date 2025 Key Metrics

Regional Net Sales and FX Impact

Fourth Quarter 2025 Guidance

Full-Year 2025 Guidance - REVISED

Guidance Assumptions

Earnings Webcast and Conference Call

Herbalife's senior management team will host an audio webcast

and conference call to discuss its third quarter 2025 financial results on Wednesday, November 5, 2025, at 5:30 p.m. ET (2:30 p.m. PT).

The audio webcast will be available at the following link: https://edge.media-server.com/mmc/p/4btutrtf

Participants joining via the conference call may obtain the dial-in

information and personal PIN to access the call by registering at the following link:

Senior management also plans to reference slides during the webcast

and call, which will be available under the Investor Relations section of Herbalife's website at https://ir.herbalife.com,

where financial and other information is posted from time to time. The webcast will also

be available at the same website, along with a replay of the webcast following the completion of the event and for 12 months thereafter.

About Herbalife Ltd.

Herbalife (NYSE: HLF) is a premier

health and wellness company, community and platform that has been changing people's lives with great nutrition products and a business

opportunity for its independent distributors since 1980. The Company offers science-backed products to consumers in more than 90 markets

through entrepreneurial distributors who provide one-on-one coaching and a supportive community that inspires their customers to embrace

a healthier, more active lifestyle to live their best life.

For more information, visit https://ir.herbalife.com.

Vice President, Global Corporate Communications

Vice President, Head

of Investor Relations

Forward-Looking Statements

This release contains "forward-looking statements" within

the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.

All statements other than statements of historical fact are "forward-looking statements" for purposes of federal and state

securities laws, including any projections of earnings, revenue or other financial items; any statements of the plans, strategies and