Planet Fitness is one of the largest and fastest-growing franchisors and operators of fitness centers in the United States, with a highly recognized national brand. Its mission is to enhance people’s lives by providing a high-quality fitness experience in a welcoming, non-intimidating environment, which the Company calls the Judgement Free Zone, where anyone can feel they belong. The Company’s bright, clean locations are typically 20,000 square feet, with a large selection of high-quality, purple and yellow Planet Fitness branded cardio, circuit- and weight-training equipment and friendly staff trainers who offer unlimited free fitness instruction to all members. Planet Fitness offers this differentiated fitness experience at only $10 per month for the standard membership. This exceptional value proposition is designed to appeal to a broad population, including occasional gym users and the approximately 80% of the U.S. and Canadian populations over age 14 who are not gym members, particularly those who find the traditional fitness club setting intimidating and expensive. Planet Fitness’ Judgement Free approach to fitness and exceptional value proposition have enabled the Company to amass over $1.5 billion in system-wide sales, more than 8.3 million members and 1,171 stores in 47 states, the District of Columbia, Puerto Rico, Canada and the Dominican Republic as of March 31, 2016. Of the 1,171 stores, 1,113 are franchised and 58 are corporate-owned. Currently, the franchisee pipeline is strong, with over 1,000 commitments for future openings. The stores are successful in a wide range of geographies and demographics.