NUTRISYSTEM REPORTS 5% GROWTH IN THIRD QUARTER REVENUES

Quarterly earnings of 15 cents per share up 50% from comparable year ago before one-time charges Board of Directors declares dividend of 17.5 cents per share

Fort Washington, PA—October 28, 2013—Nutrisystem, Inc. (NASDAQ: NTRI), a leading provider of weight management products and services, today reported financial results for the third quarter 2013. The Company also announced that the Board of Directors has declared a quarterly dividend of $0.175 per share, payable November 18, 2013, to shareholders of record as of November 7, 2013.

The following are financial highlights for the third quarter ended September 30, 2013:

Dawn Zier, President and Chief Executive Officer, said, “We are pleased with the continued progress of our turnaround. The year-over-year growth in acquisition revenues and customer starts across all channels for the quarter is a strong sign that our strategy is beginning to take hold. The sophisticated segmentation and targeting methodologies implemented over the past year not only attracted and reactivated more customers in the third quarter, but also increased length of stay and the corresponding lifetime value. And, the bottom line continues to reflect adjusted gross margin improvement as well as increased operating leverage."

Ms. Zier continued, “Over the last year, we have researched and demonstrated that the

Nutrisystem brand has strength and relevance across many platforms and configurations, as was seen with our expansion into retail. Consumers are giving us permission to do more with our brand. Consequently, based on our strategic wins and operational excellence over the past year, we are approaching this upcoming diet season with cautious optimism. Although there is still significant work that we need to do to realize our vision for the brand, with each quarter we grow increasingly confident that our plan will create both a strong Nutrisystem franchise and value for shareholders over the long term.”

Mike Monahan, Chief Financial Officer, said, “During the third quarter, the Company worked with a key supplier to settle a dispute connected to a legacy contract. Both companies worked diligently to resolve the matter, and ultimately we believe it was in the best interest of the Company and our shareholders to put the matter behind us so that we can continue to focus on executing our turnaround plan. As a result, the third quarter GAAP financials were impacted as we recorded a charge of $5 million, or $0.14 per share, in connection with the settlement of the dispute. There will be no impact on our financials going forward, and we will continue to work with the supplier in the future.”

Mr. Monahan continued, “Excluding the one-time charge, we achieved a number of important financial objectives in the quarter, including a 5% increase in revenues and a 400 basis point improvement in adjusted gross margins, generating nearly $10 million in adjusted EBITDA. These continued strong results are providing us with the resources to build the business and return cash to our shareholders. The upside in adjusted third quarter earnings per share has enabled us to increase our guidance for FY 2013. Adjusted earnings per share for nine months ended September 30, 2013 was $0.38. We are projecting fourth quarter earnings per share in the range of ($0.02) to $0.02, and expect year-over-year revenue growth in the mid-single digits in the fourth quarter.”

Conference Call and Webcast

Management will host a webcast to discuss third quarter 2013 financial results today at 4:30 PM Eastern time. The webcast will include remarks from President and Chief Executive Officer Dawn Zier, Chief Financial Officer Mike Monahan, and Chief Marketing Officer Keira Krausz. A webcast of the conference call will be available live on the Investor Relations section of the Nutrisystem website (www.nutrisystem.com) and a replay will be available for 30 days. Interested parties unable to access the conference call via the webcast may dial 913-312-0677, and reference conference ID 2112826.

Forward-Looking Statements

Information provided and statements contained in this press release that are not purely historical, such as fourth quarter and full year 2013 guidance, and the Company’s financial and operational outlook, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Such forward-looking statements only speak as of the date of this press release and the Company assumes no obligation to update the information included in this press release. Statements made in this press release that are forward-looking in nature may involve risks and uncertainties. Accordingly, readers are cautioned that any such forward-looking statements are not guarantees and are subject to certain risks, uncertainties and assumptions that are difficult to predict, including, without limitation, specific factors discussed herein and in other releases and

public filings made by the Company (including filings by the Company with the Securities and Exchange Commission). Although the Company believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made in this press release.

About Nutrisystem

Having helped Americans lose millions of pounds for over 40 years, Nutrisystem, Inc. (NASDAQ: NTRI) develops evidence-based programs for healthy weight management, and is the leading provider of home-delivered weight loss meal plans. Nutrisystem offers balanced nutrition in the form of low glycemic index meal plans designed for men and women, including seniors, vegetarians and the Nutrisystem® D® program for people with, or at risk for, type 2 diabetes. Nutrisystem® plans include a wide variety of pantry and frozen entrees and snacks to aid in program satisfaction and adherence, as well as transition plans to support long-term success. The Fort Washington, PA-based company also provides weight management support and counseling by trained weight-loss coaches and registered dietitians, as well as through an engaged online community, online tools and trackers, mobile apps, cookbooks and more. Healthcare professionals may learn more about the programs by visiting www.nutrisystem.com/hcp. Nutrisystem® weight loss plans are available directly to consumers through www.nutrisystem.com, by phone (1-800-435-4074) and at select retailers.

Adjusted EBITDA is defined as net income excluding non-cash employee compensation, other expense, interest, income taxes, depreciation and amortization, and one-time charges.

ADJUSTED OPERATING INCOME RECONCILIATION TO GAAP RESULTS

ADJUSTED NET INCOME RECONCILIATION TO GAAP RESULTS

Adjusted income tax expense for the three and nine months ended September 30, 2013 has been calculated using a tax rate of 33%. For the three and nine months ended September 30, 2012, the adjusted income tax expense was calculated using a tax rate of 35%.

We believe Adjusted EBITDA, Adjusted operating income and Adjusted net income are useful performance metrics for management and investors because they are indicative of the ongoing operations of the Company. These non-GAAP measures exclude certain non-cash and non-operating items to facilitate comparisons and provide a meaningful measurement that is focused on the performance of the ongoing operations of the Company.