Investor Presentation

March 2016

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 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;• risks associated with operating internationally and the effect of economic factors, including foreign exchange, inflation, disruptions or conflicts with the 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; • managing rapid growth in China; and• the slowing of the Chinese economy and/or the devaluation of the Chinese Renminbi.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.”

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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 – Nature’s Sunshine and

Synergy

• Global footprint spanning more than 40 countries with over 576,000 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, safety and efficacy

• Expect to enter China in Q3 2016 through first and only Chinese-American direct selling JV with

Fosun Pharma

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Diversified Revenue Mix

4

Note: Percentage breakdown in pie charts for the year ended December 31, 2015.

Revenue byBusiness Unit

Revenue byGeography

Revenue byProduct

General Health42%

Digestive23%

Cardiovascular15%

Immune8%

Weight Management

8%

Personal Care4%

NSP Americas

55%

Synergy WorldWide

35%

NSP Russia, Central and

Eastern Europe8%

China and New Markets

1%

North America

53%Asia Pacific

24%

Europe16%

Central & South America

7%

Robust Product Portfolio Addressing Leading

Health Conditions in the U.S.

5

Top Health Conditions

Categories

Share of

Overall U.S.

Health

Conditions

U.S. Market

Sales $mm

NSP # of

Products In

Category

NSP US 2015

Sales $000s

% of NSP US

2015 Sales

Sports/Energy 15% $4,836 13 $2,300 1%

General Health 15% $4,679 107 $31,094 20%

Weight Management 14% $4,404 22 $8,883 6%

Cardiovascular 7% $2,294 32 $12,082 8%

Immune 7% $2,211 65 $19,391 12%

Bone Health 6% $1,847 14 $4,413 3%

Digestive (includes liver/detox) 5% $1,703 99 $40,755 26%

Joint Health 5% $1,639 15 $5,173 3%

Cellular Health 4% $1,285 2 $362 0%

Blood Sugar Support/Diabetes 4% $1,187 10 $2,768 2%

Beauty/Skin Care 2% $737 9 $2,017 1%

Cognitive Function 2% $631 9 $2,914 2%

Sexual Health 2% $571 5 $977 1%

Mood 2% $507 40 $12,000 8%

Women's Health 1% $459 30 $4,938 3%

Vision Health 1% $412 5 $1,613 1%

Sleep 1% $407 6 $588 0%

Strong Science Capabilities

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• Provides strong competitive advantage that can be leveraged to enter new channels• Filed two patent applications in 2015: ProArgi-9+ and CardioxLDL™• Dr. Matt Tripp, Chief Scientific Officer, leads highly skilled team of scientists, that includes 8 PhDs and 3

medical doctors (also 4 MS degreed scientists) 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 including Dr. Tripp)

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

Systems Phytochemicals Discovery Delivery Clinical

The Hughes Center for Research & Innovation

7

• 5,400 square foot, multi-million dollar R&D center and medical clinic opened in February 2015 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

8

• 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)

$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

9

Source: World Federation of Direct Selling Associations

($ in Billions)

The Direct Selling market is growing, fueled by China

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

• Herbalife received

Chinese direct selling

license in 2007; Grew its

Chinese business to

$846 M in 2015

• USANA grew its China

business to over $440 M

in 2015

Entering China Through Alliance with Fosun

Pharma

11

• Expect to launch operations in China in Q3 2016 through direct selling channel

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

– Working towards obtaining direct selling license; combines NATR’s 40+ years of experience with Fosun’s brand recognition

– Products ready to be in market

• Management team in place under the 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 with strong Chinese government relations

– Eases navigation of Chinese regulatory environment to help mitigate risks

• Blue cap product registration and general food importation process is underway

• Opened Shanghai office headquarters

NSP Americas (55%(1)

of Business)

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• Six consecutive quarters(1) of net sales growth for NSP United States & Canada

– The IN.FORM program, which is focused on weight management and building a daily habit of health, continues to fuel growth

• Launched several new products in 2015 including 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

• Continuing to expand the IN.FORM program in both North America and Latin America

• Protecting the legacy business in Latin America amidst regulatory challenges while rolling out new IN.FORM business model

(1) As of the fourth quarter ended December 31, 2015.

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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:– Compared a novel, high phytonutrient, high protein diet and lifestyle program with

identical program that included five Nature’s Sunshine supplements– Demonstrated statistically significant improvement in weight loss, fat loss, healthy blood

pressure already within the healthy range, healthy insulin and lipids (triglycerides, LDL and total cholesterol) levels already within the healthy range

– 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

The IN.FORM Business Method

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Synergy WorldWide (35%(1)

of Business)

14

• Q4 2015 was the 2nd highest quarter for net sales in the Company’s history

• Geographic diversity creates opportunity for growth

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

– Working to reignite growth in Europe and North America through the launch of new business and product systems and sales and marketing initiatives that have proven successful in Asia

– Hired new European General Manager

• Developing a new Elite Health, first time brand will have a single global business and product system

• Taking steps to streamline focus from multiple product strategies to a more cohesive sales method across all regions

– Goal to achieve a unified, science-based product offering geared towards detox, weight management (SLMsmart) and building a daily habit of health

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

(1) As of the fourth quarter ended December 31, 2015.

NSP Russia, Central and Eastern Europe (8%(1)

of

Business)

15

• 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 since Q1 2014 – Recently experienced first sequential revenue growth quarter in two years(1)

– 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 to maintain leaders and customers– Introduction of value-priced product kits and programs that align with major health

category trends and building a daily habit of health – Refreshing and strengthening existing products– Keeping leaders

• Highly variable cost structure allows us to maintain profitability through adverse market conditions

(1) As of the fourth quarter ended December 31, 2015.

$201 $194 $191 $182 $179

$94 $101 $108 $128$114

$57 $58 $63 $50

$27

$10 $8$8 $6

$4

$0

$50

$100

$150

$200

$250

$300

$350

$400

2011 2012 2013 2014 2015

NSP Americas Synergy WorldWide NSP RCEE China & New Markets

Financial Highlights

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$ in Millions $ in Millions

$370$361$362

$325

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

Net Sales Revenue Adjusted EBITDA (1)

EPS From Continuing Operations

$366

$1.12

$1.59

$1.07

$0.56$0.77

$0.00

$0.40

$0.80

$1.20

$1.60

2011 2012 2013 2014 2015

$43 $41$32

$27$23

$0

$10

$20

$30

$40

2011 2012 2013 2014 2015

$15

$29

$14 $11$3

$44

$50

$63

$48

$38

$0

$10

$20

$30

$40

$50

$60

$70

$80

$90

2011 2012 2013 2014 2015

U.S. International

Strong Balance Sheet

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$ in Millions

• $41.4 million in cash and cash equivalents, as of December 31, 2015

• Very little debt of $2.7 million as of December 31, 2015

• Availability of $22.3 million on revolving credit facility

• Generated $10.2 million in cash flow from operations in 2015

Cash (1)

$59

$79 $77

$41

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

$59

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Stewards of Capital

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• Annual dividend of $0.40 (4.3% yield)(1)

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

• Completed share repurchases of $6.6 million in 2015 under $20 million share repurchase program

Regular Quarterly Dividends

$1.60

$1.50

(1) Dividend yield as of March 28, 2016.

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/16

Investment Highlights

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• Well-positioned globally within high growth Vitamin, Mineral and Supplement category

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

• Highly scalable business model with strong balance sheet

• Science-based product and program development provides strongcompetitive advantage

• In-house manufacturing through state-of-the-art facility with strong R&D capabilities

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