Strictly Company Confidential

Proprietary Information1

B. Riley & Co.

Investor ConferenceSeptember 13, 2016

2

Safe Harbor StatementThis presentation contains forward-looking statements regarding the Company’s future business expectations, which are subject to the safe harbor provisions of the Private Securities

Litigation Reform Act of 1995. Forward-looking statements may include, but are not limited to, statements relating to the Company’s objectives, plans and strategies. All statements

(other than statements of historical fact) that address activities, events or developments that the Company intends, expects, projects, believes or anticipates 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. Forward-looking statements are not guarantees

of future performance and are subject to risks and uncertainties, including the following.

• any negative consequences resulting from the economy, including the availability of liquidity to the Company, its independent distributors and its suppliers or the willingness

of its customers to purchase products;

• its relationship with, and its inability to influence the actions of, its independent distributors, and other third parties with whom it does business;

• improper activity by its employees or independent distributors;

• negative publicity related to its products, ingredients, or direct selling organization and the nutritional supplement industry;

• changing consumer preferences and demands;

• its reliance upon, or the loss or departure of any member of, its senior management team, which could negatively impact its distributor relations and operating results;

• increased state and federal regulatory scrutiny of the nutritional supplement industry, including, but not limited to targeting of ingredients, testing methodology and product

claims;

• the competitive nature of its business and the nutritional supplement industry;

• regulatory matters governing its products, ingredients, the nutritional supplement industry, its direct selling program, or the direct selling market in which it operates;

• legal challenges to its direct selling program or to the classification of its independent distributors;

• recent settlement between the Federal Trade Commission and a competitor of the Company may have implications for the direct selling industry and the Company;

• risks associated with operating internationally and the effect of economic factors, including foreign exchange, inflation, disruptions or conflicts with its 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;

• its dependence on increased penetration of existing markets;

• cyber security threats and exposure to data loss;

• its reliance on its 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 its independent distributors;

• product liability claims;

• the full implementation of its 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;

• its inability to register products for sale in Mainland China and difficulty or increased cost of importing products into Mainland China;

• managing rapid growth in China; and

• the slowing of the Chinese economy.

These and other risks and uncertainties that could cause actual results to differ from predicted results are more fully detailed under the caption “Risk Factors” in our Annual Report on

Form 10-K filed with the Securities and Exchange Commission on March 14, 2016. All forward-looking statements speak only as of the date of this press release and are expressly

qualified in their entirety by the cautionary statements included in or incorporated by reference into this press release. Except as is required by law, the Company expressly disclaims

any obligation to publicly release any revisions to forward-looking statements to reflect events after the date of this press release.

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Overview of Nature’s Sunshine Products

• Global natural health and wellness company that manufactures, markets and distributes

2,700 SKUs through the direct selling and retail channels, utilizing two distinct brands:

• Rich 44 year history; first U.S. company to encapsulate herbs in 1972

• Global footprint spans more than 40 countries with over 554,000 independent Managers,

Distributors and customers

• Balanced distribution strategy utilizing both direct selling and retail sales

• 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, safety and efficacy

4

&

Diversified Revenue Mix

5

Note: Revenue breakdown for the six months ended June 30, 2016.

Revenue byBusiness Unit

Revenue byGeography

Revenue byProduct

North America

50%Asia Pacific

24%

Europe14%

Central & South

America8%

China & New Markets

4%

NSP Americas

52%

Synergy WorldWide

37%

NSP Russia, Central and

Eastern Europe

7%

China and New

Markets4%

General Health

38%

Digestive22%

Cardiovascular20%

Immune8%

Weight Management

8%

Personal Care4%

Turnaround Story Poised for Growth• 44 year history built on strong foundational strengths: (1) commitment to world-class quality; (2)

customer service; and (3) integrity

– Highest quality self-manufactured products in company-owned facility

– Developed and retained stable, large Distributor and consumer base

• Gregory Probert appointed CEO in October 2013 to “turnaround” the business and restore top-line

growth, utilizing core foundational strengths

– Modified focus to one of science-based innovation

– Focused on entry into China and branding consistencies across all products and regions

– Driving growth via the IN.FORMTM program in NSP Americas

– Streamlining Synergy to a single cohesive sales method and unified product offering in all regions

– Reinvested in infrastructure through key management hires and investments in global

information systems

• 2 ½ years later:

– As of Q2 2016, achieved second revenue growth quarter (year-over-year in local currency) in 6

quarters, prior to realizing full potential of key growth initiatives

– Working to obtain direct selling license in China in the near term

– NSP North America demonstrated 8 consecutive quarters of growth following nearly a decade

of decline

– Synergy’s had its best first and second quarters in Company history, with its second quarter at

a record level

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1972

2013

2016

Strong Science Capabilities

• Provides strong competitive advantage that can be leveraged to enter new channels

• 8 patents in past 3 years, including ProArgi-9+, CardioxLDL™, AnxiousLess™ and the IN.FORM™

program

• Chief Scientific Officer, Dr. Matt Tripp, leads highly skilled team of scientists to study and test our

products– Team includes 8 PhDs and 3 medical doctors

– Established Global Medical and Scientific Advisory Board focused on the underlying health mega-trends

• Opened the Hughes Center for Research and Innovation, a Molecular Biology and Phytochemistry

clinic and laboratory, in February 2015– 5,400 square foot, multi-million dollar facility houses state-of-the-art equipment to perform in-house clinical

studies

– Provides capability to monitor and control entire product lifecycle

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Systems Phytochemicals Discovery Delivery Clinical

State-of-the-Art Manufacturing Capabilities

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• 270,000 sq. ft. manufacturing facility built to

pharmaceutical standards

– Currently operating at 60% capacity

– In-house manufacturing of tablets, capsules, liquids, powders

and stick pack products enhances speed to market

– Continue to develop 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)

$106

$128

$147$153

$8$13

$20

$30

$0

$20

$40

$60

$80

$100

$120

$140

$160

$180

2008 2010 2012 2014

Rest of World China

Global Direct Selling Market

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Source: World Federation of Direct Selling Associations

($ in Billions)The Direct Selling market is growing, fueled by China

Total CAGR: 8.2%

RoW CAGR: 6.3%

China CAGR: 24.6%

China is a Key Component of our Growth Strategy

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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 $772 M in 2015;

$236 M Q2 2016

• Herbalife received

Chinese direct selling

license in 2007; Grew its

Chinese business to

$846 M in 2015; $243 M

in Q2 2016

• USANA grew its China

business to over $440 M

in 2015; $132 M in Q2

2016

Entering China Through Alliance with Fosun Pharma• Working to obtain direct selling license in China in 2016

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

– Combines NATR’s 40+ years of experience with Fosun’s brand recognition

– Products ready to be in market

• Management team in place under the experienced leadership of Paul

Noack, President of China and New Markets, to ensure successful

launch – Strong NATR team has significant direct selling experience in China

• Fosun Pharma provides significant local presence and eases the

navigation of the Chinese regulatory environment to help mitigate risks

• Blue cap product registration and general food importation process is

underway

• Opened Shanghai office headquarters

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NSP Americas (52%(1) of Business)

• Eight consecutive quarters of net sales

growth for NSP United States & Canada

• Expanding IN.FORM™ in both North

America and Latin America

• Launched several new products over the

past year:

– Patent-pending CardioxLDL™ for

cholesterol metabolism support

– Re-launched an updated and extended line of

authentic essential oils

• Continuing to gain traction with Distributor

retail sales tools in North America

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(1) As of the six months ended June 30, 2016.

The IN.FORMTM

Program

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• Science-based, clinically studied, patent-pending program that supports metabolic

function and lowers metabolic age

• Conducted IRB-approved, 2 arm healthy weight management clinical study on

healthy individuals:

– 56% improvement in weight loss vs. diet alone

– 65% improvement in fat loss vs. diet alone

– 40% improvement in metabolic age vs. diet alone

– Demonstrated superiority over competitive programs (weight, fat,

cardiovascular biomarkers)

• Filed program provisional patent application

Synergy WorldWide (37%(1) of Business)

• Developing the Elite Health System with a single global business and

product system

– Streamlining focus from multiple product strategies to a single cohesive sales

method across all regions

– Goal to achieve a unified, science-based product offering geared towards detox,

weight management and building a daily habit of health

• Geographic diversity creates opportunity for growth

– Growth driven by key markets in Synergy Asia – namely Korea, Japan, Indonesia

and Thailand

– Working to reignite growth in Europe through the hiring of a new VP of Europe and

through the Elite Health System

• Patent-pending ProArgi-9+ formula continues to be a top selling product in all

major Synergy markets

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(1) As of the six months ended June 30, 2016.

$31.4

$27.4

$22.9

$12.8$10.4

$2.2

$5.2

$1.6

$2.3

$0.5

$1.0$1.3

$0.6$0.9

$0

$5

$10

$15

$20

$25

$30

$35

2013 2014 2015 YTD 2015 YTD 2016

Investment in Science and Innovation

Investment in China

Adjusted EBITDA (as reported)

$148 $146 $147

$75 $76

$48 $37 $32

$17 $14

$63$50

$27

$14 $13

$108$128

$114

$57 $63

$3 $6

$4

$2$6

$0

$50

$100

$150

$200

$250

$300

$350

$400

2013 2014 2015 YTD 2015 YTD 2016

NSP North America NSP Latin America

NSP RCEE Synergy WorldWide

China & New Markets

Financial Highlights

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$ in Millions $ in Millions

$370

$165 $172

$325

Net Sales Revenue Adjusted EBITDA (3)

$366

(1) YTD net sales revenue for the six months ended June 30, 2015 and 2016

(2) Net sales revenue for the six months ended June 30, 2016 was $175.5 million in local currency, representing year-over-year growth of 6.3%.

(3) Adjusted to exclude losses from discontinued operations, share-based compensation and other income. Additional investment spend adjustments include

investment in China and investment in science and innovation (See Appendix for a reconciliation of Adjusted EBITDA).

(1)

$32$31

$29

$15$14

(1, 2)(1) (1)

• Returned $73 million to shareholders in the past three years through regular

quarterly and special dividends

– Annual dividend of $0.40 (2.9% yield)(2)

• Repurchased $17 million worth of shares from 2013 to 2015

• Investments anticipated to bear fruit in 2017

– Entry into China, IN.FORMTM program and Synergy streamlining initiatives anticipated to

generate additional cash flow

– Investment in Oracle ERP implementation scheduled to go live in January 2017

• Generated $10.2 million in cash flow from operations in 2015 (including $5.2

million investment in China)

• $41.2(1) million in cash and cash equivalents

• Low debt balance of $3.9(1) million and availability of $21.1(1) million on revolving

credit facility

Generate Significant Cash Flow

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Self-funded major growth initiatives while returning cash to shareholders

(1) As of June 30, 2016.

(2) Dividend yield as of August 31, 2016.

Investment Highlights

• Emerging growth turnaround story with implementation of major

initiatives underway

• Well-positioned globally for growth within Vitamin, Mineral and

Supplement category

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

• Science-based product and program development provides strong

competitive advantage

• In-house manufacturing of high quality products through state-of-the-art facility

• World class management team with experience in direct selling, consumer

goods and international operations

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Appendix

Strictly Company Confidential

Proprietary Information18

Non-GAAP Measures

The Company has included information which has not been prepared in accordance with generally accepted accounting principles (GAAP), such as information concerning Adjusted EBITDA and net sales excluding the impact of foreign currency exchange fluctuations. Management utilizes the non-GAAP measure Adjusted EBITDA in the evaluation of its operations and believes that this measure is a useful indicator of the Company’s ability to fund its business. This non-GAAP financial measure should not be considered as an alternative to, or more meaningful than, U.S. GAAP net income as an indicator of the Company’s operating performance. Moreover, Adjusted EBITDA, as presented by the Company, may not be comparable to similarly titled measures reported by other companies.

In addition, the Company believes presenting the impact of foreign currency fluctuations is useful to investors because it allows a more meaningful comparison of net sales of its foreign operations from period to period. Net sales excluding the impact of foreign currency fluctuations should not be considered in isolation or as an alternative to net sales in U.S. dollar measures that reflect current period exchange rates, or to other financial measures calculated and presented in accordance with U.S. GAAP.

Other companies may use the same or similarly named measures, but exclude different items, which may not provide investors with a comparable view of Nature’s Sunshine Products’ performance in relation to other companies. The Company has included a reconciliation of Adjusted EBITDA to net income, the most comparable GAAP measure, in the attached financial tables.

Strictly Company Confidential

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Adjusted EBITDA Reconciliation

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Proprietary Information20

NATURE’S SUNSHINE PRODUCTS, INC. AND SUBSIDIARIES

RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA

(Amounts in thousands)

(Unaudited)

Year Ended December 31, Six Months Ended June, 30

2013 2014 2015 2015 2016

Net Income from continuing operations 17,653$ 19,757$ 11,540$ 6,598$ 4,155$

Adjustments:

Depreciation and amortization 4,466 4,409 4,525 2,152 2,396

Share-based compensation expense 3,389 3,948 4,485 2,085 1,586

Other (income) loss, net (1,993) 34 592 320 (937)

Provision (benefit) for income taxes 7,923 (743) 1,740 1,596 3,150

Adjusted EBITDA (as reported) 31,438$ 27,405$ 22,882$ 12,751$ 10,350$

Investment in Science and Innovation 486 969 1,344 633 884

Investment in China - 2,198 5,172 1,588 2,311

31,924$ 30,572$ 29,398$ 14,972$ 13,545$

Adjusted EBITDA excluding Investments

in China, and Science and Innovation