Slide 1: 2nd Quarter Fiscal 2022 Earnings Conference Call Presentation
| We shop. You save. 2nd Quarter Fiscal 2022 Earnings Conference Call Presentation February 7, 2022
Slide 2: Forward-Looking Statements
| We shop. You save. Forward-Looking Statements This presentation contains forward-looking statements. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. These statements are often, but not always, made through
Slide 3: 2nd Quarter Earnings Summary
| We shop. You save. 2nd Quarter Earnings Summary 3 *See reconciliations from GAAP measure, net income (loss), to non-GAAP measure, Adjusted EBITDA on slides 18 and 19 Actual results have significantly underperformed internal expectations year-to-date, primarily driven by: • Greater parity in plan b
Slide 4: Deeper Dive Into AEP
| We shop. You save. Tight labor market Increased falloff from offer acceptance to start date Delayed hiring of some flex agents Condensed training and ramping time CMS mandated review of marketing material leading into AEP Process resulted in some advertising delays early in AEP Advertising headwin
Slide 5: 2Q Consolidated EBITDA Bridge
| We shop. You save. 2Q Consolidated EBITDA* Bridge $ M ill io ns $150 $(145) $(135) $(60) $(16) $43 $(163) Internal Forecast Cohort Tail Adjustment Senior Close Rate Senior LTV Other Revenue Expense 2Q Actual $(250) $(200) $(150) $(100) $(50) $— $50 $100 $150 $200 5 *See reconciliations from GAAP m
Slide 6: Evolving Business Model
| We shop. You save. Growth Focused on Cash Flow and Predictability Reduced Operational Risk Rapid MA Membership Growth Significant Operating Leverage Evolving Business Model Reset LTV Expectations Insurance Distribution Coupled with Comprehensive Healthcare Services Business Insurance Distribution
Slide 7: Go Forward Strategic Approach
| We shop. You save. Go Forward Strategic Approach Reset LTV Expectations Reset MA Growth Philosophy Mitigate Operational Risk Factors Grow Healthcare Services Earnings & Cash Flow Visibility 7
Slide 8: SelectQuote as a Comprehensive Healthcare Services Platform
| We shop. You save. SelectQuote as a Comprehensive Healthcare Services Platform 1985 2022 & Beyond Medicare and Auto & Home Final Expense • Pharmacy - SelectRx • Home-based Care and Services • Evidence-based Care Enablement • Primary Care • Cognitive Care • Social Care Term Life Distribution 8
Slide 9: Population Health Evolution
| We shop. You save. Population Health Evolution 9
Slide 10: Progress Readouts in Coming Quarters
| We shop. You save.| . . Medicare distribution hiring plan SelectRx membership and revenue growth Growth philosophy guided by cash flow and lower volatility Population Health platform evolution Progress Readouts in Coming Quarters 10
Slide 11: Consolidated Financial Summary
| We shop. You save. REVENUE $MM Adj. EBITDA* $MM $358 $195 2Q 2021 2Q 2022 $129 $(163) 2Q 2021 2Q 2022 11 Consolidated Financial Summary *See reconciliations from GAAP measure, net income (loss), to non-GAAP measure, Adjusted EBITDA on slides 18 and 19
Slide 12: SelectQuote Senior KPIs
| We shop. You save. SelectQuote Senior KPI’s TOTAL POLICIES APPROVED 000s MA LTV 261 318 209 266 10 242 50 MA MS Other 2Q 2021 2Q 2022 12 $1,268 $922 2Q 2021 2Q 2022
Slide 13: Incremental Cohort/Tail Adjustment Driven by FY21 Cohorts
| We shop. You save. Incremental Cohort/Tail Adjustment Driven by FY21 Cohorts $ M ill io ns Estimated FY22 Tail Adjustment Impact* Original Estimate FY18 and Earlier FY19 FY20 FY21 Current Forecast $— $25 $50 $75 $100 $125 $150 $175 13 *The figures in this chart are estimates derived from currently
Slide 14: SelectRx Progress
| We shop. You save. SelectRx Progress *Represents gross initial customer enrollments. The total number of paying members will be lower than initial customer enrollments. 14 Cumulative Enrollments* May June July Aug Sept Oct Nov Dec Jan — 10,000 20,000 30,000 40,000 50,000 Paying Members May June Ju
Slide 15: Capitalization Summary
| We shop. You save. Health Choice VBC & MCO ARIZONA Capitalization Summary • As of December 31, 2021: ◦ Net debt position of $524 million ▪ $193 million of cash and cash equivalents ▪ $717 million of term debt ◦ Accounts receivable, short and long term commissions receivable balances of $1 billion
Slide 16: FY2022 Consolidated Guidance
| We shop. You save. SelectQuote – FY2022 Consolidated Guidance (#039;s in millions) Range Revenue $810 - $850 Net Loss $(255) - $(236) Adjusted EBITDA* $(260) - $(235) 16 *See reconciliations from GAAP measure, net income (loss), to non-GAAP measure, Adjusted EBITDA on slides 18 and 19
Slide 17: Supplemental Information
| We shop. You save. Supplemental Information 17
Slide 18: Net Income (Loss) to Adjusted EBITDA Reconciliation
| We shop. You save. Net Income (Loss) to Adjusted EBITDA Reconciliation 2Q FY 2022 (in thousands) Senior Life Auto & Home Corp & Elims Consolidated Revenue $ 157,967 $ 32,780 $ 6,135 $ (1,901) $ 194,981 Operating expenses (306,602) (30,930) (4,700) (15,979) (358,211) Other expenses, net — — — (51)
Slide 19: FY22 Guidance Net Loss to Adjusted EBITDA Reconciliation
| We shop. You save. FY22 Guidance Net Loss to Adjusted EBITDA Reconciliation 19 (in thousands) Range Net Loss $ (255,000) $ (236,000) Income tax benefit (86,000) (80,000) Interest expense, net 43,000 43,000 Depreciation and amortization 22,000 22,000 Share-based compensation expense 11,000 11,000 N
Slide 20: SelectQuote Inc. Investor Relations
| We shop. You save. 20 SelectQuote Inc. 6800 West 115th Street Suite 2511 Overland Park, Kansas 66211 Phone: (913) 599-9225 Investor Relations investorrelations@selectquote.com