/C O R R E C T I O N -- MASTER SPAS/

In the news release, Master Spas announces promotion of Kevin Richardson to President, issued 18-Apr-2024 by MASTER SPAS over PR Newswire, we are advised by the company that the President's last name was referenced incorrectly in the headline and should read "Kevin Richards" rather than "Kevin Richardson" as originally issued inadvertently. The complete, corrected release follows:

Master Spas announces promotion of Kevin Richards to President

FORT WAYNE, Ind., April 18, 2024 /PRNewswire/ -- Master Spas, a leading spa manufacturer, recently announced that Kevin Richards has been named president of the Fort Wayne company.

Richards succeeds Terry Valmassoi, who has served as President and CEO. Valmassoi will remain in his role as CEO, continuing his dedicated leadership of the company.

"Kevin is one of the most experienced and talented people in our industry. He has an entrepreneurial spirit with a creative mind for innovation, marketing, and continuous improvement," Valmassoi says. "As part of our executive team for more than a decade, Kevin has proven his ability to solve problems, embrace change, support our dealers, and work with our teams to meet and exceed our goals."

"With Kevin's vision and leadership, I am confident that Master Spas will continue to grow and lead the industry into the future."

As president, Richards will continue to oversee the marketing and sales efforts while also leading our executive team to meet and exceed our corporate goals.

Richards, a Connecticut native, has been with Master Spas for 28 years and has been a valued part of the executive team for the past 10 years, serving as Vice President of Sales and Marketing. He also has served in various capacities over his tenure, beginning in production and later working in customer service, retail sales, and National Sales Manager roles.

As Vice President of Sales and Marketing, Richards has made significant contributions to the culture of innovation at Master Spas, driving growth and displaying a commitment to customers.

"I'm incredibly excited to take on this role, especially at such an exciting time for Master Spas. Our team is creating the next generation of Master Spas hot tubs, swim spas, and Chilly GOAT cold tubs to help people live life better," Richards says. "It's an honor to contribute to our mission of enhancing well-being and I can't wait to see where we can take Master Spas next."

Master Spas serves customers worldwide through its network of dealers throughout North America, Europe, Asia, and the South Pacific. The company produces high-quality hot tubs, swim spas, and cold tubs, including Michael Phelps Signature Swim Spas. This swim spa line was designed with input from 23-time gold medalist Michael Phelps.

To learn more about Master Spas, go to MasterSpas.com.

About Master Spas

Master Spas is based in Fort Wayne, Indiana. Operating out of a state-of-the-art, 614,000-square-foot manufacturing facility on a 45-acre manufacturing campus, Master Spas is the largest swim spa manufacturer in the world, and the largest portable hot tub manufacturer that builds 100% of our product in the USA. The company's executive team boasts more than 135 years of spa manufacturing success and one of the strongest track records in the industry. For more information, please visit: www.MasterSpas.com.

SOURCE MASTER SPAS