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BASIC-FIT REPORTS FULL YEAR 2016 RESULTS StronggrowthofresultsandaccelerationofclubrolloutstrategyFINANCIALHIGHLIGHTS

Revenueincreasedby28%year-on-yearto€259million AdjustedEBITDAgrewby34%year-on-yearto€80million Revenueofmatureclubs(like-for-like)increasedby5%year-on-year MatureclubEBITDAmarginincreasedby134bpsyear-on-yearto49.6% Adjustednetearningsincreasedby61%year-on-yearto€14million(2015:€8.7million)

OPERATIONALHIGHLIGHTS Numberofclubsgrewto419;increaseof81clubsofwhich48inFrance Totalmembershipsgrewto1.21million;increaseof27%year-on-year Like-for-likemembershipsgrewby1.3%year-on-year SportswatermadeavailableinallBasic-Fitclubs Strongdemandforpersonaltrainersanddaypasses

MEDIUM-TERMOUTLOOK Rolloutstrategyaccelerated;pipelinewellfilled Networkisexpectedtogrowbyaround100clubsin2017andonwards Unchangedtargetofreturnoninvestedcapitalonmatureclubsofatleast30%

RenéMoos,CEOBasic-Fit:2016wasthemostsuccessfulyearinthehistoryofBasic-Fit.Wegrewbyarecordnumberof81clubs,achievedstronggrowthofresultsandhadasuccessfullistingonEuronextAmsterdam.AndthesearejustafewofthehighlightstounderscorewhatanimportantyearitwasforBasic-Fit.

Wewillincreaseourinvestmentsininnovationinordertofurtherreducethecostofoperations,increaserevenuebyofferingenhancedandnewservices,andfurtherimprovethefitnessexperience.

InFrance,Basic-Fithasbecometheleadingnon-franchisefitnesschainwithmorethan70clubs.Inthecomingyears,wewillcontinuetofocusonourgrowthinFrancetoachieveasimilarsustainableleadingmarketpositionaswecurrentlyhaveintheBenelux.

Supportedbythestrongclubopeningspipeline,wewillacceleratetheexecutionoftheclubrolloutstrategyandexpecttoopenaround100clubsin2017andonwards.

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FINANCIALANDBUSINESSREVIEW

REVENUERevenueincreasedby28%to€259millioncomparedto€202millionin2015.Thisgrowthismainlytheresultofhigherfitnessrevenue.Thecontinuedexpansionofthenumberofclubsinournetworkandtheadditionofnewmembersinourexistingclubscontinuedtobethemaindriversoftheincreaseinfitnessrevenue.Otherrevenuealsocontributedtototalrevenuegrowth,mainlyasaresultofhigherrentincomefrompersonaltrainersandhighersalesofdaypasses.

Onalike-for-likebasis,mature1clubrevenueincreasedby5%to€136million.Thisincreasewasmainlytheresultofhigherrevenuepermemberbutalsoduetofurthermembershipgrowth(1.3%).

Theaveragerevenuepermemberpermonthincreasedby3%to€19.46comparedto€18.84in2015.Thiswasmainlytheresultofthepositiveeffectsoftheadd-onslikeoursportswatersubscriptionwhichisnowavailableinallourclubs,andtheharmonisationofourmembershipoffering,whichresultedinpriceincreases,particularlyintheNetherlands.Thisincreasewasreducedtosomeextentbypromotionalactivitiesforbothnewclubopeningsaswellasexistingclubs.

Allcountriesshowedstrongrevenuegrowthcomparedto2015.Franceachievedrevenuegrowthof173%,whichismainlyexplainedbyourexpansionstrategywhichhasastrongfocusonFrance.

1Aclubisdeemedmatureifatthestartoftheyearithasbeenopenfor24monthsormore

KeyfiguresIn€millions 2016 2015 change

Totalrevenue 258.6 202.2 28%Fitnessrevenue 253.1 197.5 28%Otherrevenue 5.5 4.7 16%Operatingexpenses (145.7) (118.2) 23%AdjustedclubEBITDA 112.9 84.0 34%Totaloverheadexpenses (32.5) (23.9) 36%AdjustedEBITDA 80.4 60.1 34%Exceptionalitems (11.0) (4.4)EBITDA 69.4 55.7 25%Depreciation&Amortisation (65.4) (48.0) 36%Operatingprofit 4.0 7.7 -48%Netresult (32.4) (23.0)

Adjustednetearnings* 14.1 8.7 61%

AdjustedEPS* 0.32 0.29 11%* Beforeamortisation,interestonshareholderloans,exceptionalitemsandone-offsandtherelatedtaxeffectsTotalsandchangepercentagesarebasedonnon-roundedfigures

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InFrance,weincreasedthenumberofclubsby48.IntheNetherlandsweadded8clubstothenetwork,inBelgium20andinSpain5.Intotal,Basic-Fitincreaseditsnetworkby81clubs.Thetotalnumberofmembershipsattheendoftheyearwas1.21million,whichisanincreaseof27%comparedto2015,whichisthelargestgrowthofallmajorEuropeanfitnesschains2.

ADJUSTEDEBITDAOnaclublevel,totaloperatingexpensesincreasedto€146millionfrom€118millionin2015,whichismainlytheresultofthegrowthinthenumberofclubs.ThegrowthofrevenueoutpacedthegrowthofoperatingexpensesandasaresultwesawtheadjustedclubEBITDAmarginimproveby213bpsto43.7%.ThematureclubEBITDAmarginincreasedby134bpsto49.6%.

Overheadexpensesincreasedto€33millionfrom€24million.Thiscanmainlybeexplainedbytheincreaseininternationaloverheadcostsduetothefurtherprofessionalisationoftheorganisationinpreparationforthelistingandtofacilitatecontinuedfuturegrowth,includingtheexpansionofourcustomersupportdepartment.

In2016,adjustedEBITDAincreasedby34%to€80million,from€60millionin2015.TheadjustedEBITDAmarginincreasedby138bpsto31.1%.

EXCEPTIONALITEMSExceptionalitemsintheyeartotalled€11millioncomparedto€4.4millionin2015.ThisincreasewasmainlytheresultofIPO-relatedcosts(€4.9millionIPO-relatedtransactioncostsand€3.9millionotherexceptionalcosts).

DEPRECIATIONANDAMORTISATIONDepreciationandamortisationincreasedto€65millioncomparedto€48millionin2015.Theincreasewastheresultofhigherdepreciation,duetothelargenumberofclubsthatwehaveaddedtoournetwork.

Duringtheyear,weassessedtheusefullivesoffitnessequipmentinlinewiththeaccounting

2Basic-Fithadthestrongestorganicmembershipgrowthofthetop10EuropeanfitnesscluboperatorsaccordingtotheEuropeActive/DeloitteEuropeanHealth&FitnessMarketReport2017

GeographicrevenuesplitIn€millions 2016 2015 change

Netherlands 100.1 83.0 21%Belgium 106.2 90.5 17%Luxembourg 8.2 7.3 12%France 25.0 9.2 173%Spain 19.0 12.3 55%Totalrevenue 258.6 202.2 28%Totalsandchangepercentagesarebasedonnon-roundedfigures

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policyandIAS16.Thisreviewhasresultedinlongerestimatedusefullives,whichwehaveimplementedasof1October2016:8yearsforstrengthfitnessequipmentand6yearsforcardioandotherfitnessequipment(previously:5-6yearsforallfitnessequipment).Asaresultofthechangeinpolicythedepreciationoffitnessequipmentwas€1.8millionlessthanifwehadfollowedthepreviouspolicyforthefullyear.

OPERATINGRESULTTheoperatingresultwas€4.0millioncomparedto€7.7millionin2015.ThisdecreasewastheresultofthesignificantexceptionalcostsasaresultoftheIPO,aswellastheincreaseindepreciation,whichincreasedfasterthanrevenue,asoverthelasttwoyearswehavebeenopeningmanynewclubsthathaveyettomature.

INTERESTANDNETDEBTTheproceedsofthenewbankloanandtheprimaryofferingoftheIPOwereusedtodeleverageandimproveourcapitalstructure.Attheendoftheyearthenetdebtwas€206million,comparedto€255million(excluding€201millionshareholderloan)attheendof2015,representingaleverageratio3of2.6.Attheendof2016,wehad€44millioninundrawncreditfacilities,comparedto€18millionattheendof2015.

Thefinanceexpenseswere€36millioncomparedto€37millionin2015.Thisstabledevelopmentwastheresultofcosts(€12million)relatingtotheearlyrepaymentofpriorloansandleasecommitmentsbeingmorethanoffsetbyacombinationoflowerdebtandimprovedfacilitytermsafterJune2016.Thefinanceexpensesincludetheinterestcostsonshareholderloans,whichwewillnolongerincurunderthecurrentcapitalstructure.

Asaresultofboththereduceddebtandinterestrates,weexpecttheweightedaverageinterestratetobebetween2.5%and3.0%goingforward.

TAXThecorporateincometaxexpensefortheyearwas€0.7million,comparedtoa€6.3millionbenefitin2015.In2016Basic-FitreachedanagreementwiththeDutchandBelgiantaxauthorities.AsdescribedintheIPOprospectus,Basic-FitwasindiscussionswiththeDutchtaxauthoritiesaboutseveraltaxmatters,themainonebeingthetaxdeductibilityoftheinterestonshareholderloans.Asaresultoftheagreement,therecogniseddeferredtaxassetswerereducedby€9.2million,resultinginanon-cashtaxchargeofthesameamount.

ADJUSTEDNETEARNINGSThenetresultintheyearwasminus€32million,comparedtominus€23millionin2015.Toprovidemoreinsightintheunderlyingprofitabilityofthecompanywereportanadjustednetearningsmeasure.Adjustedforamortisation,interestonshareholderloans,exceptionalitemsandone-offsandtherelatedtaxeffects,earningswere€14million,comparedto€8.7million3Netdebt/LTMadjustedEBITDA

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in2015.Thetransactioncosts,representingthemainiteminexceptionalitems,wererelatedtotheIPO.Thepre-openingcostsinexceptionalitemsincludenon-cashleasecostsincurredaheadofopeningaclub.Theone-offcostsarelinkedtotherefinancingandearlyrepaymentofourfinancialleasesandtheone-offnon-cashtaxcharge.

Totalsarebasedonnon-roundedfigures

EQUITYTotalequityattheendof2016was€305million,comparedtominus€24millionattheendof2015.ThisimprovementwastheresultoftheuseofproceedsfromtheIPO.

WORKINGCAPITALWorkingcapitalwas€82millionnegativecomparedto€88millionnegativeattheendof2015.Asapercentageofrevenue,workingcapitalwasminus32%,comparedtominus43%in2015.

CASHFLOW&CAPITALEXPENDITUREThecashflowpre-expansioncapex,definedasadjustedEBITDAminusmaintenancecapex,was€66million,anincreaseof31%comparedto€50millionin2015.

Maintenancecapexin2016was€14millioncomparedto€9.8millioninthesameperiodlastyear.Onaper-clubbasisforthefullyear,maintenancecapexwas€38thousand.

Expansioncapexwas€105million,comparedto€94millionin2015.Theincreaseismainlyexplainedbythelargernumberofclubsopenedin2016.Thisfigurealsoincludesexpensesfortheexpansionofexistingclubsandsmallacquisitionsin2016(€15million)and2015(€23million).Wewillcontinuetoexpandsuccessfulexistingclubsin2017whenpossible,asthisisacost-effectivealternativeforbuildinganewclubnearasuccessfulexistingone.

Reconciliationnetresulttoadjustednetearnings

In€millions 2016 2015

Netresult (32.4) (23.0)

Amortisation 16.7 14.9Exceptionalitems 11.0 4.4Pre-openingcosts 2.2 1.6Transactioncosts 4.9 -Otherexceptionalcosts 3.9 2.8Interestonshareholderloans 10.9 21.2One-offcosts 21.6 -Breakagecostrelatedtoearlyrepayment 7.8 -Amortisationofcapitalizedfinancecost 4.6 -Non-cashtaxcharge 9.2 -Taxeffects(27%/22%) (13.7) (8.8)Adjustednetearnings 14.1 8.7

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Theinitialcapexpernewly-builtclubwasonaverage€1.1million.

Duringtheyearwefinalisedtheplannedrefurbishmentprogramme.Therelatedone-offcapexwas€11million,comparedto€33millionin2015.

Othercapexamountedto€3.5millionandconsistedprimarilyofrelocationcostsforourinternationalheadquartersandourheadquartersinBelgiumandFrance,andsoftwaredevelopmentcosts.

OUTLOOKClubopeningspipeline(#clubs)

*Contractssignedincludessitesforwhichweareawaitingpermitapproval

Thepipelineofnewclubsisverywellfilled.Attheendof2016,29clubswereunderconstructionandcontractsweresignedfor69clubs.Theseincludeclubsforwhichweareawaitingpermitapproval.Inaddition,wehaveapipelineof140clubsforwhichweareinadvanceddiscussionswiththepropertyownersorwhichareintheresearchphase.Thisenablesustoacceleratetheexecutionofourclubrolloutstrategyinthemedium-term.Wenowexpectournetworktogrowbyaround100clubsin2017andonwards.

ThevastmajorityofclubopeningswillbeinFrancewherewehavetheopportunitytosecureasustainableleadingposition.Wewillbeopeningclubsinclustersinmorecitiesandregionsacrossthecountry,inlinewithourstrategy.Wewillincreaseourmarketingspendtosupporttherolloutofnewclubswithlocaladvertisinginthevariousregions.

Inthemedium-term,weexpectrevenuetogrowonaveragebyatleast20%ayear,withsignificantoperatingleverage.Theannuallike-for-likerevenuegrowthisexpectedtobemodest.

Wewillcontinuetorigidlyfollowourwelldefinedexpansionprocessinordertomaintainthehighqualityofournetworkandachievethetargetedreturnoninvestedcapital4onmature

4MatureadjustedclubEBITDAdividedbytheinitialcapitalexpenditureincurredinopeninganewclub

8129

69

140

0

50

100

150

Netopenings2016 Underconstruction

Contractssigned* Pipeline

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clubsofatleast30%.

Wewillincreasethelevelofinvestmentininnovationinordertofurtherreducethecostofoperations,increaserevenuebyofferingenhancedandnewservicesandfurtherimprovethefitnessexperience.Thisinreturnwillalsohelptoincreasethelengthofstay.

Wehavesecuredfundingfortheacceleratedgrowthplanbyincreasingtherevolvingcreditfacilityby€75million.Giventheamplecovenantheadroomotheramendmentstotheagreementwerenotrequired.Asaresultoftheacceleratedgrowthplanandsubsequenthigherinvestments,wewillnotdeleveragethisyear,andexpectnetdebttobebetween2.5and3.0timesadjustedEBITDAattheendof2017.

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CONSOLIDATEDSTATEMENTOFCOMPREHENSIVEINCOME

In€thousands 2016 2015 Revenue 258,561 202,222Costsofconsumablesused (2,316) (1,160)Employeebenefitsexpense (51,501) (39,748)Depreciation,amortisationandimpairmentcharges (65,356) (47,983)Otheroperatingincome 780 1,779Otheroperatingexpenses (136,133) (107,407)Operatingprofit 4,035 7,703 Financeincome 13 -Financecosts (35,754) (37,016)Financecosts-net (35,741) (37,016) Profit(loss)beforeincometax (31,706) (29,313)Incometax (667) 6,348

Profit(loss)fortheperiodattributabletotheownersofthecompany (32,373) (22,965)

Othercomprehensiveincome Itemsthatmaybereclassifiedtoprofitorloss Cashflowhedges 574 (273)Deferredtaxoncashflowhedges (144) 68Othercomprehensiveincomefortheperiod,netoftax 430 (205)

Totalcomprehensiveincomefortheperiod(attributabletoownersoftheCompany) (31,943) (23,170)

Earningspershareforprofitattributabletotheordinaryequityholdersofthecompany:

Basicearningspershare(in€) (0.74) (0.77)Dilutedearningspershare(in€) (0.74) (0.77)

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CONSOLIDATEDSTATEMENTOFFINANCIALPOSITIONIn€thousands 31December2016 31December2015Assets Non-currentassets Property,plantandequipment 329,290 247,388Intangibleassets 278,846 292,347Deferredtaxassets 4,590 1,113Receivables 2,062 2,330Totalnon-currentassets 614,788 543,178 Currentassets Inventories 811 791Tradeandotherreceivables 19,595 12,391Cashandcashequivalents 17,365 12,328Totalcurrentassets 37,771 25,510Totalassets 652,559 568,688 Equity Sharecapital 3,280 300Sharepremium 358,360 29,700Othercapitalreserves 729 -Retainedearnings (56,457) (52,330)Cashflowhedgereserve (835) (1,265)Totalequity 305,077 (23,595) Liabilities Non-currentliabilities Borrowings 172,711 226,181Long-termloanfromshareholder - 201,082Derivativefinancialinstruments 1,367 1,687Deferredtaxliabilities 14,692 14,580Provisions 4,185 5,105Totalnon-currentliabilities 192,955 448,635 Currentliabilities Tradeandotherpayables 102,465 100,826Currentincometaxliabilities 287 40Currentportionofborrowings 50,400 35,091Loanfromkeymanagementmember - 6,000Provisions 1,375 1,691Totalcurrentliabilities 154,527 143,648Totalliabilities 347,482 592,283Totalequityandliabilities 652,559 568,688

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CONSOLIDATEDSTATEMENTOFCASHFLOWSIn€thousands 2016 2015Cashflowsfromoperatingactivities

Profit(loss)beforeincometax (31,706) (29,313)

Non-cashadjustmentstoreconcileprofitbeforetaxtonetcashflows: -Depreciationandimpairmentofproperty,plantandequipment 48,676 33,076-Amortisationandimpairmentofintangibleassets 16,680 14,907-Share-basedpaymentexpense 729 --Gainondisposalofproperty,plantandequipment (498) (864)-Gainondisposaloffitnessclub - (745)-Financecosts-net 35,741 37,016-Movementsinprovisions (1,586) (2,412)Workingcapitaladjustments: -IncreaseinInventories (21) (568)-Increaseintradeandotherreceivables (7,186) (1,876)-Increase(decrease)intradeandotherpayables (7,085) 15,537Cashgeneratedfromoperations 53,744 64,758Interestreceived 13 -Interestpaid (12,772) (12,869)Earlyrepaymentfees (7,780) -Incometax(paid)received (40) 27Netcashflowsfromoperatingactivities 33,165 51,916Cashflowsfrominvestingactivities Proceedsfromsaleofproperty,plantandequipment 1,530 2,887Purchaseofproperty,plantandequipment (109,235) (64,916)Purchaseofotherintangibleassets (2,361) (1,539)Acquisitionofasubsidiary,netofcashacquired (2,338) (13,834)Repaymentofloansgranted 26 -Disinvestments(Investments)inotherfinancialfixedassets 241 (575)Netcashflowsusedininvestingactivities (112,137) (77,977)

Cashflowsfromfinancingactivities Proceedsfromborrowings(previousfacility) 17,500 51,530Proceedsfromborrowings(newfacility) 225,000 -Repaymentsofborrowings (15,419) (25,047)Repaymentsofborrowings(refinancing) (494,855) -Financingcostspaid(previousfacility) (611) (1,349)Financingcostspaid(newfacility) (3,604) -Proceedsofnewlyissuedshares(incorporationofBasic-FitN.V.) 45 -IPO-proceeds 370,000 -Proceedsfromsharepremium 1,500 -IncrementalcostspaiddirectlyattributabletoIPO (15,547) -Netcashflowsfromfinancingactivities 84,009 25,134Net(decrease)/increaseincashandcashequivalents 5,037 (927)

Cashandcashequivalentsat1January 12,328 13,255

Cashandcashequivalentsat31December 17,365 12,328

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CONSOLIDATEDSTATEMENTOFCHANGESINEQUITY

In€thousandsSharecapital

Sharepremium

Othercapitalreserves

Retainedearnings

Cashflowhedge

reserve TotalequityBalance–1January2015 300 29,700 - (29,365) (1,060) (425)Comprehensiveincome: Profit(loss)fortheperiod - - - (22,965) - (22,965)

Othercomprehensiveincome(loss) - - - - (205) (205)

Totalcomprehensiveincome(loss)fortheperiod - - - (22,965) (205) (23,170)

Balance–31December2015 300 29,700 - (52,330) (1,265) (23,595)

Balance–1January2016 300 29,700 - (52,330) (1,265) (23,595)Comprehensiveincome:

Profit(loss)fortheperiod - - - (32,373) - (32,373)

Othercomprehensiveincome(loss) - - - - 430 430

Totalcomprehensiveincome(loss)fortheperiod - - - (32,373) 430 (31,943)

Issueofordinaryshares 1,525 356,860 - - - 358,385

Capitalreorganisationundercommoncontrol 1,455 (29,700) - 28,245 - -

Capitalcontribution - 1,500 - - - 1,500

Sharebasedpayments - - 729 - - 729

Transactionswithownersrecognizeddirectlyinequity 2,980 328,660 729 28,245 - 360,615

Balance–31December2016 3,280 358,360 729 (56,457) (835) 305,077

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NOTESTOTHEPRESSRELEASE

Theconsolidatedfinancialstatementsarepresentedinmillionsofeurosandallvaluesareroundedto

thenearestmillionunlessotherwisestated.Changepercentagesandtotalsarecalculatedbefore

rounding.Asaconsequence,roundedamountsmaynotadduptotheroundedtotalinallcases.

ThispressreleasecontainsinsideinformationwithinthemeaningofArticle7(1)oftheEUMarket

AbuseRegulation.

The2016financialinformationincludedintheconsolidatedstatementsattachedtothispressrelease

arederivedfromtheAnnualReport2016.ThisAnnualReporthasbeenauthorizedforissue.The

AnnualReporthasnotyetbeenpublishedbylawandstillhastobeadoptedbytheAnnualGeneral

MeetingonMay16,2017.Inaccordancewithsection393,Title9,Book2oftheNetherlandsCivil

Code,Ernst&YoungAccountantsLLPhasissuedanunqualifiedauditors’opinionontheAnnual

Report.ThefullAnnualReportwillbeavailabletodownloadonourwebsite(corporate.basic-fit.com)

from24March2017.

FORMOREINFORMATION

RichardPiekaar

+31(0)233022385

investor.relations@basic-fit.com

AUDIOWEBCASTFULLYEAR2016RESULTS

Dateandtime:23March2017at14.00CET

corporate.basic-fit.com

Basic-FitislistedonNYSEEuronextAmsterdamintheNetherlands

ISIN:NL0011872650Symbol:BFIT

FINANCIALCALENDAR

Q12017tradingupdate 11May2017

AGM 16May2017

Halfyear2017results 16August2017

ABOUTBASIC-FIT

With419clubs,Basic-FitisthelargestfitnessoperatorinEurope.Weoperateinfivecountriesandin

ourclubs,morethan1.2millionmemberscanworkonimprovingtheirhealthandfitness.Basic-Fit

operatesastraightforwardmembershipmodelandoffersahigh-quality,value-for-moneyfitness

experiencethatappealstothefitnessneedsofallactivepeoplewhocareabouttheirpersonalhealth

andfitness.Atypicalsubscriptioncosts€19.99andgivespeopleaccesstoallourclubsinEuropeanda

passwhichcanbesharedwithfamilymembers.

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FORWARD-LOOKINGSTATEMENTS/IMPORTANTNOTICE

Somestatementsinthispressreleasemaybeconsidered’forward-lookingstatements’.Bytheirnature,forward-looking

statementsinvolveriskanduncertaintybecausetheyrelatetoeventsanddependoncircumstancesthatmayoccurinthe

future.Theseforward-lookingstatementsinvolveknownandunknownrisks,uncertaintiesandotherfactorsthatareoutside

ofourcontrolandimpossibletopredictandmaycauseactualresultstodiffermateriallyfromanyfutureresultsexpressedor

implied.Theseforward-lookingstatementsarebasedoncurrentexpectations,estimates,forecasts,analysesandprojections

abouttheindustryinwhichweoperateandmanagement'sbeliefsandassumptionsaboutpossiblefutureevents.Youare

cautionednottoputunduerelianceontheseforward-lookingstatements,whichonlyexpressviewsasatthedateofthis

pressreleaseandareneitherpredictionsnorguaranteesofpossiblefutureeventsorcircumstances.Wedonotundertake

anyobligationtoreleasepubliclyanyrevisionstotheseforward-lookingstatementstoreflecteventsorcircumstancesafter

thedateofthispressreleaseortoreflecttheoccurrenceofunanticipatedevents,exceptasmayberequiredunder

applicablesecuritieslaw.