Successfully Completed Three-Way Merger on June 25, 2021

Strong $347.2 Million Cash Position with No Debt

Strong Two-Year Growth in Revenue +21%, Subscriptions +55%, Total Streams +75%, and Engagement +330BPS

Poised to Accelerate Future Growth with an Additional 30% Increase in Bike Units, Launch of BOD Interactive, and Increased Media Investment in the Second Half of 2021

The Beachbody Company, Inc. (NYSE: BODY) (“Beachbody” or the “Company”), a leading subscription health and wellness company, today announced financial results for its second quarter and six months ended June 30, 2021.

Beachbody completed a three-way business combination with Myx Fitness Holdings (“Myx”) and Forest Road Acquisition Corp. on June 25, 2021. Results for the second quarter and six months ended June 30, 2021 include five days of results for Myx.

“Over the last two decades, Beachbody has established itself as a worldwide leader in subscription health & wellness through the development of compelling digital fitness content and proprietary nutritional products that deliver results for millions of customers,” said Carl Daikeler, Beachbody’s Co-founder, Chairman and Chief Executive Office. “Completing our merger, adding connected fitness to the Beachbody portfolio, and bringing Beachbody to the public market has now set the stage for a multi-year period of accelerated growth,” he added. “The addition of Myx enhances our holistic approach to health & wellness and provides us with tremendous opportunity to serve our customers with the enhancements they have been asking for, specifically a high quality connected indoor bike and live content produced with the same innovation that has been Beachbody’s signature since the days of P90X. Looking ahead, we believe the business is poised to benefit from several drivers, including our first ever Beachbody brand advertising campaign, the launch of our new live interactive content subscription offering BOD Interactive (BODi), and the sell-in of the MYX bike to our customer base and powerful network of coaches and influencers.”

“We continued to execute to our proven business model during the second quarter, introducing new digital content and nutritional products that have been well received by our subscribers,” said Sue Collyns, Beachbody’s President and Chief Financial Officer. “However, the delay in closing our business combination resulted in us deferring $12 million of media investments and postponing the launch of the MYX bike within our coach ecosystem until the second half of the year,” she added. “Moving forward, we are well positioned to execute on our strategic objectives with over $347 million of cash on our balance sheet, a decision to ramp up connected fitness unit projections, and increase media investment by an incremental $33 million in the second half of 2021 compared to previous forecasts.”

“The digital disruption of fitness is here, unlocking and expanding the total addressable market. Beachbody is uniquely positioned at the forefront of three mega trends driving this shift—the rise of digital streaming subscriptions, the popularity of connected fitness and the heightened demand for effective health & wellness solutions,” stated Daikeler. “Beachbody has a proven approach, with entry points across multiple platforms and our long history of successfully acquiring, engaging and retaining subscribers. While we remain keenly aware that the near-term COVID variant and macro conditions present heightened uncertainty as we head into the second half of the year, I remain very upbeat on our long-term prospects and confident in our ability to scale the business and create significant shareholder value as conditions begin to normalize.”

Due to the impact of COVID-19 on second quarter 2020 results, the Company is also providing comparisons to the second quarter of 2019.

Second Quarter 2021 GAAP Results

• Total Revenue was $223.1 million, a 2% increase compared to 2020 and a 21% increase compared to 2019
• Digital revenue was $94.3 million, a 20% increase compared to 2020 and a 61% increase compared to 2019
  • Digital subscriptions were 2.7 million at period end, a 13% increase compared to 2020 and a 61% increase compared to 2019
  • 31.9% DAU/MAU, a 130-basis point decrease compared to 2020, and a 330 basis points increase compared to 2019
  • 44.5 million total streams, a 20% decrease compared to 2020, and a 75% increase compared to 2019
  • 94.9% month-over-month digital retention, 140-basis point decrease compared to 2020 and 30-basis point decrease compared to 2019
• Nutrition and other revenue was $128.8 million, an 8% decrease compared to 2020 and a 3% increase compared to 2019
  • Nutritional subscriptions were 0.4 million, compared to 0.5 million in 2020 and 0.3 million in 2019
• Net loss was $12.4 million, compared to a net loss of $10.0 million in 2020 and net income of $19.6 million in 2019
• Adjusted EBITDA was ($4.4) million, compared to $0.9 million in 2020 and $17.7 million in 2019

Six Months 2021 GAAP Results

• Total Revenue was $449.3 million, a 16% increase compared to 2020 and a 14% increase compared to 2019
• Digital revenue was $189.5 million, a 34% increase compared to 2020 and a 52% increase compared to 2019
  • Digital subscriptions were 2.7 million at period end, a 13% increase compared to 2020 and a 61% increase compared to 2019
  • 33.5% DAU/MAU, a 190-basis point increase compared to 2020, and a 440 basis points increase compared to 2019
  • 100.4 million total streams, a 13% increase compared to 2020, and a 93% increase compared to 2019
  • 95.4% month-over-month digital retention, 20-basis point decrease compared to 2020 and 30-basis point increase compared to 2019
• Nutrition and other revenue was $259.9 million, a 5% increase compared to 2020 and a 4% decrease compared to 2019
  • Nutritional subscriptions were 0.4 million, compared to 0.5 million in 2020 and 0.3 million in 2019
• Net loss was $42.5 million, compared to a net loss of $18.3 million in 2020 and net income of $27.1 million in 2019
• Adjusted EBITDA was ($16.1) million, compared to $3.6 million in 2020 and $39.7 million in 2019

Financial Performance Guidance for 2021 ²

The merger between Beachbody, Forest Road Acquisition Corp., and Myx Fitness Holdings, LLC on June 25, 2021 occurred one quarter after the forecasted date and resulted in deferring $12.0 million of media investments to the second half of the year. With the merger complete, we now plan to integrate the content of both digital platforms onto the bike in September 2021. In addition, given our strong cash position of $347.2 million, we also plan to increase our media investment in the second half of 2021 compared to previous forecasts by $33.0 million, for a total of $189.0 million in 2021. Additionally, we are increasing our estimated connected fitness bike forecasts by approximately 30% to 95,000 units. While we expect these initiatives to drive long-term value, they are projected to negatively impact Adjusted EBITDA in the second half of 2021 as they are not forecasted to generate a meaningful in-year payback. Given the many consumer and supply chain variables created by the pandemic, we feel it is prudent to present a more conservative view with respect to our outlook for the remainder of the year. Accordingly, for the fiscal year ending December 31, 2021 the Company currently expects:

• Total revenue¹ between $930.0 million and $960.0 million
• Adjusted EBITDA¹ between ($110.0) million and ($100.0) million

Conference Call and Webcast Information

Beachbody will host a conference call at 5.00pm ET on Thursday, August 12, 2021 to discuss its financial results. To participate in the live call, please dial (833) 989-3106 (domestic) or (873) 415-0233 (international) and provide the conference identification number: 1094283. The conference call will also be available to interested parties through a live webcast at https://investors.thebeachbodycompany.com/.

A replay of the call will be available until August 19, 2021, by dialing (800) 585-8367 (domestic) or (416) 621-4642 (international) and entering the conference identification number: 1094283.

After the conference call, a webcast replay will remain available on the investor relations section of the Company’s website for one year.

About The Beachbody Company, Inc.

Headquartered in Southern California, Beachbody is a worldwide leading digital fitness and nutrition subscription company with over two decades of creating innovative content and powerful brands. The Beachbody Company is the parent company of the Beachbody On Demand streaming platform (BOD), the Openfit live digital streaming platform and MYXfitness, the company’s connected fitness brand. For more information, please visit TheBeachbodyCompany.com.

Safe Harbor Statement

This press release contains “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are statements other than statements of historical facts and statements in future tense. These statements include but are not limited to, statements regarding our future performance and our market opportunity, including expected financial results for the full year, the potential impact of COVID-19 on the fitness and wellness industry in general as well as our business, our business strategy, our plans and our objectives and future operations.

Forward-looking statements are based upon various estimates and assumptions, as well as information known to us as of the date hereof, and are subject to risks and uncertainties. Accordingly, actual results could differ materially due to a variety of factors, including: our ability to effectively compete in the fitness and nutrition industries; our ability to successfully acquire and integrate new operations; our reliance on a few key products; market conditions and global and economic factors beyond our control; intense competition and competitive pressures from other companies worldwide in the industries in which we operate; and litigation and the ability to adequately protect our intellectual property rights. You can identify these statements by the use of terminology such as “believe”, “plans”, “expect”, “will”, “should,” “could”, “estimate”, “anticipate” or similar forward-looking terms. You should not rely on these forward-looking statements as they involve risks and uncertainties that may cause actual results to vary materially from the forward-looking statements. For more information regarding the risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements, as well as risks relating to our business in general, we refer you to the “Risk Factors” section of our Securities and Exchange Commission (SEC) filings, including those risks and uncertainties included in the Amendment No. 5 to Form S-4 Registration Statement filed with the SEC on May 27, 2021, which are available on the Investor Relations page of our website at https://investors.thebeachbodycompany.com and on the SEC website at www.sec.gov.

All forward-looking statements contained herein are based on information available to us as of the date hereof and you should not rely upon forward- looking statements as predictions of future events. The events and circumstances reflected in the forward-looking statements may not be achieved or occur. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, performance, or achievements. We undertake no obligation to update any of these forward-looking statements for any reason after the date of this press release or to conform these statements to actual results or revised expectations, except as required by law. Undue reliance should not be placed on forward-looking statements.

The Beachbody Company, Inc.

Adjusted EBITDA

In addition to our results determined in accordance with accounting principles generally accepted in the United States, or GAAP, we believe the following non-GAAP financial measure of Adjusted EBITDA is useful in evaluating our operating performance.

We define and calculate Adjusted EBITDA as net income (loss) adjusted for depreciation and amortization, amortization of capitalized cloud computing implementation costs, amortization of content assets, interest expense, income taxes, equity-based compensation, and other items that are not normal, recurring, operating expenses necessary to operate the Company’s business.

The presentation of this non-GAAP financial measure is not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with GAAP. Investors are encouraged to review the reconciliation of this non-GAAP financial measure to their most directly comparable GAAP financial measure. A reconciliation of the non-GAAP Adjusted EBITDA to GAAP measures can be found below:

Key Operating Metrics and Non-GAAP Financial Measures

In addition to the measures presented in our interim condensed consolidated financial statements, we are presenting Post Merger Operating Metrics for the three and six months ended June 30, 2021 and June 30, 2020.

The Post Merger Operating Metrics include the completed three-way business combination with Myx and Forest Road Acquisition Corp. on June 25, 2021 with results for the second quarter and six months ended June 30, 2021, including five days of results for Myx.

We are presenting this information to help readers understand the key operational and business metrics and non-GAAP financial measures in those respective periods.

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