1. Annual Meeting of Shareholders
April 22, 2010

2. Welcome and Opening Remarks
Kenneth E. Cooper
Vice President of Finance

3. 2009 Annual Meeting of Shareholders
1. Formal Business Meeting
2. Management Presentation
Business Overview
Financial Overview
3. Question and Answer Session
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4. Forward-Looking Statements
During this presentation, we may make forward-looking statements. These statements
involve known and unknown risks, uncertainties and other factors which may cause our
actual results, performance or achievements to be materially different from any future
results, performances or achievements expressed or implied by the forward-looking
statements. Forward-looking statements include statements about:
our estimates of future expenses, revenue, profitability and returns;
trends affecting our financial condition and results of operations;
our ability to attract and retain members or achieve our targeted membership capacity;
the availability and terms of debt financing;
our ability to identify sites, open new centers on schedule, and our ability to integrate acquired
facilities;
new initiatives to enhance our brand in the areas of exercise, nutrition and education;
industry trends and the competitive environment;
the impact of losing one or more senior executives or failing to attract additional key personnel;
other forward-
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5. Formal Business Meeting
Eric J. Buss
Executive Vice President, General Counsel and Secretary

6. Formal Business Meeting
1. Election of Directors
Bahram Akradi
Giles H. Bateman
Jack W. Eugster
Guy C. Jackson
John K. Lloyd
Martha A. Morfitt
John B. Richards
Joseph S. Vassalluzzo
2. Ratification of Deloitte & Touche LLP as Independent Registered
Public Accounting Firm
3. Transact other business properly brought forth - NONE
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7. Business Overview
Bahram Akradi
Founder, Chairman and Chief Executive Officer

8. We are changing our culture
2009 Key Goals
Free Cash Flow Generation - ACCOMPLISHED
Become a leaner, more capable company - ACCOMPLISHED
Deliver $1.70 diluted EPS ACCOMPLISHED
2009 Stretch Goals
Achieve positive SSS for mature clubs MADE PROGRESS
Attrition rate in the mid- MADE PROGRESS
2010 Key Goals
Achieve positive SSS for mature clubs in second half of 2010
Improve our attrition rate throughout the year
Accomplish goals by connecting with members in a way never seen before.
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9. 2010 Key Objective
Reestablish Life Time as a healthy-way-of-life growth
company
Grow square footage
Grow memberships
Grow in-center programs
Grow our corporate businesses
Grow top-line revenue and EPS
Continue to strengthen our balance sheet
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10. Financial Overview
Michael R. Robinson
Executive Vice President and Chief Financial Officer

11. Strong Historical Financial Performance
Total Revenue EBITDA
($ in millions) ($ in millions)
$837.0
$769.6
$655.8 $240.9
$221.5
$197.7
$511.9
$390.1 $149.0
$120.4
2005 2006 2007 2008 2009 2005 2006 2007 2008 2009
7.7% 7.3% 6.1% 2.8% (3.1)% 30.9% 29.1% 30.1% 28.8% 28.8%
Comparable Center Revenue Growth EBITDA Margin
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12. 2010 Key Goal: Reduce Attrition
Quarterly Attrition Q1 Q2 Q3 Q4 Total Year
%
2006 7.6% 8.2% 9.3% 9.4% 34.6%
2007 7.4% 7.9% 9.1% 9.6% 34.2%
2008 9.3% 10.6% 11.5% 10.8% 42.3%
2009 9.8% 9.5% 10.6% 10.8% 40.6%
Enhance value proposition everywhere
Drive connectivity and involvement
Enhanced energy to work with members indicating a
desire to leave
Continued membership growth expected, while driving to reduce attrition
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13. 2010 Key Goal: Same Store Sales Improvement
Get to Positive Mature SSS in the 2nd half of 2010:
13-month SSS Q1 Q2 Q3 Q4 Total Year
2007 7.5% 6.6% 5.1% 5.3% 6.1%
2008 4.3% 3.3% 3.9% 0.0% 2.8%
2009 (2.7)% (4.4)% (5.4)% 0.3% (3.1%)
Mature (37- Q1 Q2 Q3 Q4 Total Year
month) SSS
2007 2.6% 1.6% (0.3)% (0.5)% 0.8%
2008 (1.8)% (2.0)% (1.9)% (5.2)% (2.8)%
2009 (7.9)% (9.0)% (8.7)% (4.7)% (7.5)%
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14. Revenue per Membership
Revenue per Q1 Q2 Q3 Q4 Total Year
Membership
2007 $334 $338 $345 $344 $1,360
(+6.5%) (+6.3%) (+5.3%) (6.8%) (+6.2%)
2008 $363 $361 $358 $345 $1,427
(+8.7%) (+6.9%) (+3.9%) (+0.3%) (+4.9%)
2009 $352 $354 $358 $350 $1,414
(-2.9%) (-2.0%) (-0.2%) (+1.6%) (-0.9%)
In-Center Q1 Q2 Q3 Q4 Total Year
Revenue per
Membership
2007 $98 $98 $99 $93 $387
(+9.1%) (+8.9%) (+9.0%) (+9.4%) (+9.1%)
2008 $111 $107 $104 $93 $414
(+13.3%) (+9.8%) (+4.8%) (flat) (+7.0%)
2009 $103 $102 $100 $95 $400
(-7.0%) (-5.1%) (-3.1%) (+2.4%) (-3.4%)
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15. Generate Free Cash Flow
Generate free cash flow and maintain prudent capital structure:
Key Statistics ($ in millions) FY 2009 FY 2008 FY 2007
Free Cash Flow $39.6 $(280.2) $(273.6)
Net Debt to total capital 47.0% 51.8% 49.4%
TTM cash flow/ops as % debt 28.2% 25.7% 25.2%
Cash and revolver availability $107 $56 $72
Total Debt to EBITDAR (covenant is 4.00) 3.29 3.51 2.88
Capital Structure ($ in millions) FY 2009 FY 2008 FY 2007
Long Term Debt $643.6 $702.6 $555.0
Short Term Debt 16.7 10.3 9.6
Total Debt 660.3 712.9 564.6
$737.4 $652.9 $572.6
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16. Maintain Lean and Efficient Cost Structure
Operating Margin Rate Q1 Q2 Q3 Q4 Total
2006 18.3% 19.2% 20.6% 20.1% 19.6%
2007 18.8% 20.7% 22.2% 22.0% 21.0%
2008 19.5% 20.7% 21.2% 15.1% 19.1%
2009 15.7% 18.0% 18.7% 18.7% 17.8%
2010 Target Areas: Recent Cost Structure Changes:
Marketing and acquisition 3Q 2008 sale-leasebacks
costs on 6 centers
Central infrastructure 4Q 2008 charge related to
Maturity curve of center growth slow-down ($5 million
base pre-tax)
Center level efficiencies 2008/2009 higher member
(labor/supplies) acquisition costs
Execute to our Economic Model
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17. Question and Answer Session
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18. LIFE TIME FITNESS, INC.
For more information, please send your
request to: ir@lifetimefitness.com
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