Investment proposition

We operate in a large, long term growth market, with low cost gyms gaining share.

The Gym Group is the best rated low cost proposition

We have multiple like-for-like revenue opportunities: pricing headroom; acquisition near current sites; improved retention

There is significant white space opportunity, with potential for low cost provision to double in the UK, according to PwC

We aim to add c.50 high quality, high returning sites over three years, funded from free cashflow

Our capital allocation priorities: target leverage of <2.0x; organic new site growth delivering 30% returns; optionality for cash returns.