Xponential Fitness, Inc. announced that in connection with Ms. Morris? appointment as Interim CEO, Chelsea Grayson has been appointed Lead Independent Director of the Board. The Company received notice on May 7, 2024 of an investigation by the United States Attorney?s Office for the Central District of California (?USAO?).

The Company previously disclosed an investigation by the Securities and Exchange Commission (?SEC?). The Company intends to continue cooperating with the SEC and intends to cooperate with the USAO. The Board has formed a Special Committee of Directors, comprising independent directors Ms. Grayson, Jair Clarke and Jeffrey Lawrence, to investigate these matters.