Slide 1: Earnings Presentation 1st Quarter, 2026
Earnings Presentation 1st Quarter, 2026 April 21, 2026
Slide 2: Disclaimer Statement
Disclaimer Statement This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 that involve risks and unce
Slide 3: Community Health Systems
Community Health Systems Kevin J. Hammons Chief Executive Officer Jason K. Johnson Executive VP and Chief Financial Officer Earning Presentation – 1st Quarter, 2026 3
Slide 4: Income Summary
Income Summary (Amounts in millions, except margin and per share amounts) Three Months Ended March 31, 2026 2025 Change Net Operating Revenues $ 2,965 $ 3,159 -6.1% Adjusted EBITDA(1) $ 309 $ 376 -17.8% Adjusted EBITDA Margin (1) 10.4% 11.9% -150 BPS Net Loss per Share, $ (0.48) $ (0.03) Excluding A
Slide 5: Diluted EPS – Excluding Adjustments
Diluted EPS – Excluding Adjustments Three Months Ended March 31, 2026 2025 Net loss, as reported $ (0.43) $ (0.10) Adjustments: Loss from early extinguishment of debt 0.06 - Impairment and (gain) loss on sale of businesses, net (0.11) 0.02 Expense from business transformation costs - 0.05 Net loss,
Slide 6: 1Q 2026 Summary
1Q 2026 Summary 1Q 2026 compared to 1Q 2025 Consolidated Same Store Net Operating Revenue -6.1% 3.1% Net Revenue per AA 3.7% Admissions -10.8% -1.3% Adjusted Admissions -10.5% -0.5% Surgeries -14.1% -2.2% ER Visits -14.0% -2.8% 6
Slide 7: Payor Mix (Consolidated)
Payor Mix (Consolidated) Key Managed Care & Other Medicaid Medicare Managed Care 1.1% 0.6% 17.3% 18.7% Medicare Self-Pay 1Q 45.4% 1Q 46.5% 2026 2025 19.4% 19.1% • Payor mix as % of net revenue. • Total consolidated 16.8% 15.1% uncompensated care as % of adjusted net revenue (net revenue before provi
Slide 8: Cash Flow & Capital Expenditures
Cash Flow & Capital Expenditures Cash Flows from Operations Capital Expenditures ($ in millions) ($ in millions) $750 $712 * $ 500 $467 $600 $ 400 $360 $497 * $335 $450 $ 300 $300 $257 * $ 200 $120 $85 $76 $150 $ 100 $0 $0 -$150 -$300 ($297) 2023 2024 2025 1Q25 1Q26 * Adjusted Cash Flows excludes ca
Slide 9: Balance Sheet Data
Balance Sheet Data ($ in millions) March 31, 2026 December 31, 2025 Working Capital $ 1,206 $ 1,026 Total Assets $ 13,180 $ 13,204 Total Debt $ 10,156 $ 10,396 Stockholders’ Deficit $ (1,454) $ (1,394) • At March 31, 2026, all of our debt was fixed rate debt. • Days revenue outstanding for same-stor
Slide 10: Debt Maturity Profile
Debt Maturity Profile March 31, 2026 ($ in millions) $ 2,800 $1,227 $ 2,100 $ 1,400 $1,244 $1,780 $1,790 $ 700 $1,535 $1,058 $644 $700 $42 $0 2028 2029 2030 2031 2032 2033 2034 First Lien Notes Second Lien Notes Unsecured Notes Debt maturity profile does not include amounts outstanding, if any, unde
Slide 11: Unchanged 2026 Guidance Provided February 18, 2026
Unchanged 2026 Guidance Provided February 18, 2026 2026 Projection Range • Net operating revenues (in millions) $11,600 to $12,000 • Adjusted EBITDA (in millions) $1,340 to $1,490 • Depreciation and amortization as a percentage of net operating revenues 3.2% • Net loss per share – diluted $(0.60) to
Slide 12: Medium-Term Financial Goals
Medium-Term Financial Goals Medium-Term Within 1-3 Years Net Revenue Growth Mid-Single Digit Adjusted EBITDA Margin Mid-Teens Annual Free Cash Flow Positive Financial Leverage (Net Debt / EBITDA) Below 5.5x 12
Slide 13: Top Five Priorities
Top Five Priorities
Slide 14: APPENDIX: Other Financial Information
APPENDIX: Other Financial Information
Slide 15: Unaudited Supplemental Information
Unaudited Supplemental Information EBITDA is a non-GAAP financial measure which consists of net loss attributable to Community Health Systems, Inc. before interest, income taxes, and depreciation and amortization. Adjusted EBITDA, also a non-GAAP financial measure, is EBITDA adjusted to add back net
Slide 16: Unaudited Supplemental Information
Unaudited Supplemental Information The following table reflects the reconciliation of Adjusted EBITDA, as defined, to net loss attributable to Community Health Systems, Inc. stockholders from our condensed consolidated financial statements (in millions): Three Months Ended March 31, 2026 2025 Net lo