DEAR SHAREHOLDER,

As I enter my final year as CEO of Nu Skin, I reflect on a year unlike any other, marked by both significant global challenges as well as incredible opportunities. After 30 years with this extraordinary organization, it is hard to convey how proud I am of our employees and sales leaders worldwide. I am particularly pleased with how they rose to the occasion and responded with humanity, determination and a resilient spirit in the face of unprecedented global challenges. We persevered and took important steps to protect one another while driving growth across the company and continuing to deliver on our mission of empowering people to improve lives.

Throughout the year, we stayed focused on our strategy and capitalized on the opportunities available to us through our prior investments in product innovation, technology and manufacturing to build our customer base and empower our sales leaders. Ultimately, these efforts enabled us to grow ahead of plan, as we reported revenue growth of 7% during 2020 and EPS growth of 17%.

Some notable achievements I want to highlight include:

In addition, we built on our industry-leading charitable initiatives with projects all around the world, achieved our 2020 sustainability milestone of assessing, scoring and improving the environmental impact of our top 20 products and strengthened our diversity, equity and inclusion efforts. We will continue to make additional commitments and progress in these areas as we strive to be a force for good and make the world a better place.

As we carry this positive momentum into 2021, we will continue to lean into three key areas of our strategy — products, programs and platform — which we believe will enable us to produce strong EPS growth moving forward.

In 2021, we will continue to invest in our business, our technology and our people. We have a proven track record of identifying the latest global trends and executing organic strategies to capitalize. Through the robust digital ecosystem that we provide, our sales leaders are empowered to connect directly with consumers in personalized, high-touch ways that deepen the long-term relationship between them. With our relentless focus on customers and strong pipeline of innovative products, we are well-positioned to capitalize on the many growth opportunities we see ahead.

We do this all with an excellent financial foundation. We have strengthened our balance sheet and prioritized the return of capital to our shareholders, including increasing our dividend for the 20^th consecutive year.

With the company ideally positioned for the future and maintaining such strong momentum, and after a comprehensive succession planning process, I announced my decision to retire as CEO and as a member of the Board of Directors of Nu Skin earlier this year. While I will miss leading this organization and the purpose-driven work we do every day, I have complete confidence in my successor, Ryan Napierski, who will assume the position of CEO in September.

Having worked closely with Ryan since he joined the company more than 25 years ago, I know firsthand the vital role he has played in executing our strategy and evolving Nu Skin into a more customer-obsessed, global, digital-first organization. With his deep understanding of our strategy, operations, values and people, Ryan is uniquely equipped to continue building on Nu Skin’s long record of success. I look forward to supporting him as an advisor through early 2022.

I have such admiration for our global Nu Skin family, including our talented sales leaders and dedicated employees. It has truly been an honor to serve as the CEO of such an outstanding company, and I look forward to watching it continue to grow.

I remain confident in our ability to deliver superior, sustainable value for our shareholders. On behalf of our Board, employees and valued customers, thank you for your trust and investment in Nu Skin.

Sincerely,

Ritch Wood

Chief Executive Officer

FORWARD-LOOKING STATEMENTS: This annual report 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, that represent the company’s current expectations and beliefs. All statements other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws and include, but are not limited to, statements of management’s expectations regarding the company’s performance, growth, shareholder value, future management, customers and sales force, products and product introductions, strategies, initiatives, investments and areas of focus; projections regarding earnings per share; statements of belief; and statements of assumptions underlying any of the foregoing. In some cases, you can identify these statements by forward-looking words such as “believe,” “expect,” “anticipate,” “become,” “continue,” “opportunity,” “enable,” “will,” “would,” “could,” “may,” “might,” the negative of these words and other similar words. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. We caution and advise readers that these statements are based on assumptions that may not be realized and involve risks and uncertainties that could cause actual results to differ materially from the expectations and beliefs contained herein. For a summary of certain risks related to our business, see the company’s Annual Report on Form 10-K, filed on February 11, 2021, and other documents filed by the company with the Securities and Exchange Commission.

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