Investor Presentation

September 2015

Safe Harbor Statement

Certain information included or incorporated herein by reference in this presentation may be deemed to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may include, but are not limited to, statements relating to our objectives, plans and strategies. All statements (other than statements of historical fact) that address activities, events or developments that we intend, expect, project, believe or anticipate will or may occur in the future are forward-looking statements. These statements are often characterized by terminology such as “believe,” “hope,” “may,” “anticipate,” “should,” “intend,” “plan,” “will,” “expect,” “estimate,” “project,” “positioned,” “strategy” and similar expressions, and are based on assumptions and assessments made by management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. For example, information appearing under “Management’s Discussion and Analysis of Financial Condition and Results of Operations” includes forward-looking statements. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties.• any negative consequences resulting from the economy, including the availability of liquidity to us, our independent Distributors and our suppliers or the willingness of our

customers to purchase products;• our relationship with, and our ability to influence the actions of, our independent Distributors, and other third parties with whom we do business;• improper activity by our employees or independent Distributors;• negative publicity related to our products, ingredients, and the nutritional supplement industry or direct selling organization;• changing consumer preferences and demands;• our reliance upon, or the loss or departure of any member of, our senior management team which could negatively impact our Distributor relations and operating results;• increased state and federal regulatory scrutiny of the dietary supplement industry;• the competitive nature of our business and the nutritional supplement industry;• regulatory matters governing our products, ingredients, the nutritional supplement industry, our direct selling program, or the direct selling market in which we operate;• legal challenges to our direct selling program or to the classification of our independent Distributors;• risks associated with operating internationally and the effect of economic factors, including foreign exchange, inflation, disruptions or conflicts with our third party importers,

governmental sanctions, ongoing Ukraine and Russia political conflict, pricing and currency devaluation risks, especially in countries such as Ukraine, Russia and Belarus;• uncertainties relating to the application of transfer pricing, duties, value-added taxes, and other tax regulations, and changes thereto;• our dependence on increased penetration of existing markets;• our reliance on our information technology infrastructure;• the sufficiency of trademarks and other intellectual property rights;• changes in tax laws, treaties or regulations, or their interpretation;• taxation relating to our independent Distributors;• product liability claims;• share price volatility related to, among other things, speculative trading; and• the full implementation of our joint venture for operations in China with Fosun Industrial Co., Ltd., as well as the legal complexities, unique regulatory environment and

challenges of doing business in China generally.All forward-looking statements speak only as of the date of this presentation and are expressly qualified in their entirety by the cautionary statements included in or incorporated by reference into this presentation. Except as is required by law, we expressly disclaim any obligation to publicly release any revisions to forward-looking statements to reflect events after the date of this presentation. Throughout this presentation, we refer to Nature’s Sunshine Products, Inc., together with its subsidiaries, as “we,” “us,” “our Company” or “the Company.”

2

Overview of Nature’s Sunshine Products

• Global health, wellness and lifestyle company that manufactures and markets 3,600 SKUs

through the direct selling and retail channels, utilizing two distinct brands

• Global footprint spanning more than 40 countries with over 625,000 independent

Managers, Distributors and Customers

• Strong R&D capabilities provide competitive advantage and enable innovative science-

based solutions to address mega-trend health conditions

• State of the art manufacturing facility supports industry leadership in quality and service

• Entering China in 2016 through first and only Chinese-American direct selling JV with

Fosun Pharma

• Starting in Q4 2015, expect to realize ~$10-15 million of annualized operating income

improvement ($0.32 - $0.48 of diluted EPS) by streamlining operations and refocusing

activities on profitable growth opportunities

3

Diversified Revenue Mix

4

Note: Percentage breakdown in pie charts for the quarter ending June 30, 2015.

Revenue byBusiness Unit

Revenue byGeography

Revenue byProduct

General Health41%

Digestive24%

Cardiovascular16%

Weight Management

8%

Immune7%

Personal Care4%

NSP Americas

56%

Synergy WorldWide

35%

NSP Russia, Central and

Eastern Europe8%

China and New

Markets1%

North America

49%

Asia Pacific

23%

Russia & Europe

17%

Latin America

10%

China and New

Markets1%

$106

$128

$147$153

$8$13

$20

$30

-

20

40

60

80

100

120

140

160

180

2008 2010 2012 2014

Rest of World China

Global Direct Selling Market

5

Source: World Federation of Direct Selling Associations

($ in Billions)

The Direct Selling market is growing, fueled by China

Direct Selling of VMS has grown at 9.7% CAGR from 2009-14

6

Direct Selling VMS Sales by Region (2009 – 2014)1

Billions of USD

2009 2010 2011 2012 2013 2014

U.S. N/A (0.9%) 9.0% 9.5% 5.8% 5.2%

China N/A 12.4% 27.9% 20.9% 17.9% 17.9%

Asia Pacific N/A (1.8%) 4.9% 7.4% 3.4% 2.8%

YOY GROWTH:

0.0

5.0

10.0

15.0

20.0

25.0

30.0

2009 2010 2011 2012 2013 2014

U.S. Asia Pacific China Western EU

Latin America Eastern EU MEA Canada

CAGR% (2009-14)

Total 9.7%

Canada 2.1%

MEA 12.8%

Eastern EU 16.2%

Latin

America215.1%

Western EU 1.5%

China 19.3%

Asia Pacific3 3.3%

U.S. 5.6%

Notes: 1Retail Sales; 2Includes Mexico; 3Less China

Source: Euromonitor, NBJ, NSP analysis

Robust Product Portfolio Addressing Leading

Health Conditions in the U.S.

7

Top Health Conditions

Categories

Share of

Overall U.S.

Health

Conditions

U.S. Market

Sales $mm

NSP # of

Products In

Category

NSP US 2014

Sales $000s

% of NSP US

2014 Sales

Sports/Energy 14.90% $4,836 13 $2,292 1.50%

General Health 14.40% $4,679 107 $31,948 20.60%

Weight Loss 13.60% $4,404 22 $7,499 4.80%

Cardiovascular 7.10% $2,294 32 $11,406 7.40%

Immune 6.80% $2,211 65 $20,076 13.20%

Bone Health 5.70% $1,847 14 $4,410 2.80%

Digestive (includes liver/detox) 5.20% $1,703 99 $39,355 25.40%

Joint Health 5.00% $1,639 15 $5,240 3.40%

Cellular Health 4.00% $1,285 2 $919 0.60%

Blood Sugar Support/Diabetes 3.60% $1,187 10 $2,099 1.40%

Beauty/Skin Care 2.30% $737 9 $1,962 1.30%

Cognitive Function 1.90% $631 9 $2,864 1.90%

Sexual Health 1.80% $571 5 $966 0.60%

Mood 1.60% $507 40 $12,238 7.90%

Women's Health 1.40% $459 30 $5,044 3.30%

Vision Health 1.30% $412 5 $1,567 1.00%

Sleep 1.20% $407 6 $588 0.40%

Strong Science Capabilities

8

• Provides strong competitive advantage that can be leveraged to enter new channels• Three-pronged approach to support our product strategy: (1) targeted innovation; (2) refresh and

extend lines; and (3) basic research• Appointed scientist, Dr. Matt Tripp, as Chief Scientific Officer

– Leads highly skilled team of scientists, that includes 7 PhDs and 2 medical doctors, who work with top researchers at universities to study and test our products

• Established Global Medical and Scientific Advisory Board focused on the science underlying health mega-trends (currently 6 member board)

• Opened the Hughes Center for Research and Innovation, a Molecular Biology and Phytochemistryclinic and laboratory, in February 2015

Systems Phytochemicals Discovery Delivery Clinical

The Hughes Center for Research & Innovation

9

• New 5,400 square foot, multi-million dollar R&D center and medical clinic at our corporate headquarters in Lehi, UT

• Serves as home base for researchers to conduct scientific research and product development

• Facility houses state-of-the-art equipment and medical clinic to perform in-house clinical studies

• Provides capability to monitor and control entire product lifecycle

State-of-the-Art Manufacturing Capabilities

10

• 270,000 sq. ft. manufacturing facility built to pharmaceutical standards – Currently operating at 60% capacity– In-house manufacture of tablets, capsules, liquids, powders and

stick pack products– Operational Excellence initiatives resulted in >$1M in the last 12

months

• Investing in science, R&D and manufacturing to strengthen our competitive advantage in:– Development and speed to market of innovative product

programs– Development of best-in-class processes that enhance efficiency,

improve service, reduce internal costs and empower distributors

• In-house labs enable the development of specifications and test methods that ensure the highest quality in the industry

• Regulated by the FDA (Food & Drug Association), USDA (United States Department of Agriculture) and TGA (Therapeutic Goods Administration in Australia)

Experienced Management Team

11

Name Position Previous Experience

Greg Probert Chairman & Chief Executive Officer• Penta Water, Herbalife, DMX Music, Disney

• Served as President & Chief Operating Officer of Herbalife from 2003 – 2008

Paul Noack President of China & New Markets

• ViSalus, Herbalife, Disney

• Served as Managing Director of the Asia Pacific Region, Chief Strategic Officer and Senior

Vice President of Corporate Planning and Strategy at Herbalife

Adriana Mendizábal President of NSP Americas

• VISA, Herbalife, Proctor & Gamble

• Served as Senior Vice President and General Manager for Mexico and Central America at

Herbalife

Dan Norman President of Synergy WorldWide • Health & wellness products, Tahitian Noni

Bryant YatesPresident of NSP Russia, Central &

Eastern Europe • Nature’s Sunshine Products for 15+ years

Steve BunkerExecutive Vice President, Chief Financial

Officer & Treasurer• Geneva Steel Holdings, Arthur Andersen LLP

Richard StrulsonEVP, General Counsel & Chief

Compliance Officer

• Herbalife, Disney, Latham & Watkins

• Served as Senior Vice President, Chief Privacy Officer and Counsel of Herbalife from 2004

– 2013

Matthew Tripp, Ph.D. Chief Scientific Officer • Metagenics, KinDex Therapeutics, Kellogg Company

Sue Armstrong Chief Operations Officer • Metagenics, Carl Zeiss Vision

Staci GlovskyExecutive Vice President, Worldwide

Marketing• Health & Wellness Products, Herbalife

Patrick J. O’Hara Chief Human Resources Officer • Danaher, Fluke Corporation, Los Alamos National Laboratory, IBM

Nature’s Sunshine has assembled a deep bench of industry veterans andbest-in-class management

NSP Americas (56% of Business)

12

• Four consecutive quarters(1) of net sales growth for NSP United States & Canada• Leverage new science opportunities with strong growth potential and R&D to provide

efficacious products and programs • Systematic reformulation of core categories to maintain competitive advantage

– Launched two new products at our 2015 national convention – Berberine IR, for glucose metabolism support and CardioxLDL, for cholesterol metabolism support

– Re-launched an updated and extended line of authentic essential oils• Continue to expand IN.FORM program, focused on weight management and a daily

habit of health, and Distributor retail sales tools

(1) As of the second quarter ended June 30, 2015.

Synergy WorldWide (35% of Business)

13

• Geographic diversity creates larger opportunity for growth

– Growth driven by key markets of Europe, Indonesia and Japan

– Four consecutive quarters(1) of net sales growth for Synergy Europe

– Focused plan to return Synergy’s largest market, South Korea, to growth through new programs to provide Distributors with tools to drive recruiting

• Strategy to align product portfolio globally while enhancing scientifically-supported and differentiated products

• Product line expansion into weight management (launch of SLMsmart) and personal care

• Develop and propagate business methods that enable retailing of product, Distributor recruiting and leadership development

(1) As of the second quarter ended June 30, 2015.

NSP Russia, Central and Eastern Europe (8% of

Business)

14

• Strong reputation for reliability, longevity and quality in region

• Net sales continue to be impacted by political unrest in Ukraine and Russia and the devaluation of local currencies against the U.S. dollar

– Strong relationship with local general dealer to maintain service levels and retain stability until unrest subsides

• Focusing efforts on retention and engagement of distributors and customers in the region by:

– Targeted price promotions, events and training

– Introduction of value-priced product kits and programs that align with major health category trends and a daily habit of health

– Refresh and strengthen existing products

Entering China Through Alliance with Fosun

Pharma

15

• First and only Chinese-American direct selling partnership in China

– Working towards obtaining direct selling license; expect to launch in Q3 2016

– Largest and most popular distribution channel for nutritional supplements

– Finalized product offerings; registration of products for direct selling is underway

– Direct selling will combine NATR’s 40+ years of experience with Fosun’s brand recognition

– Made several key hires under the leadership of Paul Noack, President of China and New Markets

• Strong NATR team has significant direct selling experience in China

– Completed negotiation of long-term office space

• Fosun Pharma provides significant local presence with strong Chinese government relations

– Eases navigation of Chinese regulatory environment to help mitigate risks

China is a Key Component of our Growth Strategy

16

Shanghai

Qingdao

Beijing

Chongqing

Wuxi

HangzhouWuhan

Chengdu

Haerbing

Shenyang

Xian

Nanchang

Fuzhou

Guangzhou

Zhenzhou

Changsha

Shijiazhuang

Hefei

Nanning

Changchun

Kuming

East China

North China

Northeast China

Mid China

Northwest China

Southwest China

South China

Shenzhen

Ningbo

Suzhou

Nanjing

Jinan

Source: SFDA State Food and Drug Administration ( China)Southern Research Institute

• China is the 2nd largest

Direct Selling Market

and the 2nd largest VMS

Market

• Amway China revenues

of $4 B & 29% of the

China direct selling

market

• NuSkin China revenues

were $949M in 2014

• Herbalife received

Chinese direct selling

license in 2007; Grew its

Chinese business to

$664M in 2014

• USANA grew its China

business to over $325M

in its first five years

Financial Highlights

17

$16

$43 $41$32 $27

$0

$10

$20

$30

$40

$50

2010 2011 2012 2013 2014

$0.54

$1.12$1.56

$1.08 $1.12

-$0.25

$0.25

$0.75

$1.25

$1.75

2010 2011 2012 2013 2014

$225 $217 $209 $207$188

$69 $94 $101 $108$128

$56$57 $58

$63 $50

$0

$50

$100

$150

$200

$250

$300

$350

$400

2010 2011 2012 2013 2014

NSP Americas Synergy NSP RCEE

$ in Millions $ in Millions

$368$368

$350

$366

(1) Adjusted to exclude losses from discontinued operations, one-time contract termination costs, share-based compensation and other income.

Adjusted EBITDA for Q2 2015 was $5.1 million.

Net Sales Adjusted EBITDA (1)

EPS From Continuing Operations

$378

$20 $15$29

$14 $11 $6

$28$44

$50

$63

$48

$41

$0

$10

$20

$30

$40

$50

$60

$70

$80

$90

2010 2011 2012 2013 2014 Q2 2015

U.S. International

Strong Balance Sheet

18

$ in Millions

• $46 million in cash and cash equivalents, as of June 30, 2015

• No debt as of June 30, 2015

• Availability of $25 million on revolving credit facility

• Generated $14.2 million in cash flow from operations in 2014

Cash (1)

$48

$59

$79 $77

$46

(1) Includes payment of special dividend of $1.50 per share in Q3 2013 of ~$24 million and Q3 2014 of ~$28 million.

$59

$-

$0.02

$0.04

$0.06

$0.08

$0.10

$0.12

$0.14

$0.16

$0.18

$0.20

11/8

8

05/8

9

11/8

9

05/9

0

11/9

0

05/9

1

11/9

1

05/9

2

11/9

2

05/9

3

11/9

3

05/9

4

11/9

4

05/9

5

11/9

5

05/9

6

11/9

6

05/9

7

11/9

7

05/9

8

11/9

8

05/9

9

11/9

9

05/0

0

11/0

0

05/0

1

11/0

1

05/0

2

11/0

2

05/0

3

11/0

3

05/0

4

11/0

4

05/0

5

11/0

5

05/0

6

11/0

6

05/0

7

11/0

7

05/0

8

12/0

8

05/0

9

11/0

9

05/1

0

11/1

0

05/1

1

11/1

1

03/1

2

08/1

2

03/1

3

08/1

3

03/1

4

08/1

4

11/1

4

05/1

5

Stewards of Capital

19

• Annual dividend of $0.40 (3.3% yield)(1), in-line with peer group

• Special dividends of $1.50 per share paid on August 29, 2013 and September 19, 2014

• $10 million share repurchase program completed in December 2014

• $20 million share repurchase program in place – $3.8 million purchased through Q2 2015

Regular Quarterly Dividends

$1.60

$1.50

(1) Dividend yield as of August 31, 2015.

08

/15

Investment Highlights

20

• Well-positioned within rapidly growing Vitamin, Mineral and Supplement category

• Entry into China provides opportunity for sustainable long-term growth

• Highly scalable business model with strong balance sheet

• Executing on transformation to multi-brand, multi-channel health, wellness and lifestyle Company

• Science-based product and program development provides competitive advantage

• State-of-the-art manufacturing facility with strong R&D capabilities

• World class management team with experience in direct selling, consumer goods and international operations