SCHEDULE: Route One Discloses 7.3% Stake in Herbalife Ltd.

Route One Investment Company and its affiliates have disclosed a 7.3% beneficial ownership stake in Herbalife Ltd. common shares.

Summary

• Route One Investment Company, L.P., along with ROIC, LLC, Route One Investment Company, LLC, William F. Duhamel, Jr., and Jason E. Moment, collectively hold 7,528,938 common shares of Herbalife Ltd., representing 7.3% of the class.
• Route One Offshore Master Fund, L.P. beneficially owns 5,193,442 common shares, which constitutes 5.0% of the class.
• The percentages are calculated based on 103,105,683 common shares outstanding on July 30, 2025, as reported in Herbalife Ltd.'s Form 10-Q for the quarter ended June 30, 2025.
• The reporting persons have shared voting and dispositive power over their respective holdings.
• The securities were acquired and are held in the ordinary course of business and not for the purpose or effect of changing or influencing the control of Herbalife Ltd., other than activities solely in connection with a nomination under Rule 14a-11.

Sentiment

Score: 5

Explanation: The filing is a factual disclosure of beneficial ownership and does not contain information that would inherently indicate positive or negative sentiment regarding the issuer's performance or outlook.

Future Outlook

No forward-looking statements or guidance regarding Herbalife Ltd.'s performance are provided.

Industry Context

This filing is a standard disclosure of a significant passive ownership stake by an institutional investor in a publicly traded company, common across various industries.

Stakeholder Impact

• Shareholders are informed of a significant institutional investor's stake in Herbalife Ltd., which can influence market perception and investor confidence.

Key Dates

Keywords

Herbalife, HLF, Route One Investment Company, beneficial ownership, Schedule 13G, investment fund, equity stake, common shares