Slide 1: FY25 Results
FY25 RESULTS Dr. Ian Kadish - Managing Director & CEO Craig White – CFO 26 August 2025
Slide 2: FY25 Results Overview – Key Highlights
FY25 RESULTS OVERVIEW – KEY HIGHLIGHTS Solid revenue growth of 33.7% to �628.0m (including ~6-months contribution 1 from Capitol post-merger) (6.7% growth on an IDX standalone basis) Consolidated Group (AUD $m) FY25 vs FY24 Revenue(1) 628.0 33.7% 2 Improved operating EBITDA margin of 20.1% (up 0.6%
Slide 3: Strategic Overview – Key Progress Update
STRATEGIC OVERVIEW – KEY PROGRESS UPDATE Capitol merger LFL organic growth Greenfield and inorganic growth Proceeding on plan with synergies to Continued evaluation and implementation Ongoing focus on driving organic growth exceed initial expectations and strategic of incremental greenfield an
Slide 4: IDX Operational Platform Strengthened Following Merger with Capitol
IDX OPERATIONAL PLATFORM STRENGTHENED FOLLOWING MERGER WITH CAPITOL IDX national platform Enhanced • High quality network of 145 clinics across Australia and New operational Zealand with ~460 radiologists(1) and ~3,000 staff scale and 145 Total IDX sites • GP and specialist referral network in metro
Slide 5: Continuing to Deliver on Our Values in FY25
CONTINUING TO DELIVER ON OUR VALUES IN FY25 • Excellent average patient • ~460(3) employed or • ~3,0003 employees • Annualised merger • Continued focus on • Structured program to NPS of +82(1) contracted reporting synergies expected from delivering our ESG strategy combine both IDX and radiologists
Slide 6: Financial Performance
FINANCIAL PERFORMANCE FY25 Investor Presentation 6
Slide 7: FY25 Financial Results – Overview
FY25 FINANCIAL RESULTS – OVERVIEW Consolidated Group IDX Standalone AUD $m FY25 FY24 Var. ($) Var. (%) FY25 FY24 Var. ($) Var. (%) (1) Revenue 628.0 469.7 158.3 33.7% 501.2 469.7 31.5 6.7% Operating EBITDA(2) 126.5 91.5 35.0 38.3% 95.8 91.5 4.3 4.8% Operating EBITDA margin 20.1% 19.5% 0.6% 19.1% 19.
Slide 8: FY25 Financial Results – Pro Forma Profit & Loss
FY25 FINANCIAL RESULTS – PRO FORMA PROFIT & LOSS IDX IDX Capitol Pro Forma AUD $m FY25 FY24 Var. ($) Var. (%) FY25 FY25 Revenue(1) 501.2 469.7 31.5 6.7% 245.6 746.8 Consumables 24.0 22.9 1.1 4.5% 7.7 31.7 Labour 318.0 293.4 24.6 8.4% 150.7 468.7 Equipment 15.1 15.8 (0.7) (4.7%) 7.6 22.7 Occupancy 10
Slide 9: FY25 Financial Results – Revenue
FY25 FINANCIAL RESULTS – REVENUE Consolidated Group IDX Standalone AUD $m FY25 FY24 Var. ($) Var. (%) FY25 FY24 Var. ($) Var. (%) (1) Revenue 628.0 469.7 158.3 33.7% 501.2 469.7 31.5 6.7% Key comments: • Solid revenue growth driven by growth in patient volumes, Medicare indexation and continued favo
Slide 10: FY25 Financial Results – Operating Expenditure
FY25 FINANCIAL RESULTS – OPERATING EXPENDITURE Consolidated % of Revenue IDX Standalone Consolidated AUD �m FY25 FY25 FY24 Var. (�) Var. (%) FY25 FY24 Consumables 28.1 24.0 22.9 1.1 4.5% 4.5% 4.9% Labour(1) 394.2 318.0 293.4 24.6 8.4% 62.8% 62.5% Equipment 19.5 15.1 15.8 (0.7) (4.7%) 3.1% 3.4% Occup
Slide 11: FY25 Financial Results - Cash Flow / Cash Conversion
FY25 FINANCIAL RESULTS - CASH FLOW / CASH CONVERSION Group Group Key comments: AUD $m FY25 FY24 Var. ($) Var. (%) • Stronger operating free cash flow conversion prior to Operating EBITDA 126.5 91.5 35.0 38.3% replacement capital expenditure of 85.4% (FY24: 77.2%). Non-cash items in EBITDA 1.5 1.2 0.
Slide 12: Capital Expenditure
CAPITAL EXPENDITURE Capex investment aligned with IDX’s strategy FY25 replacement capex of �28.0m Replacement capex reflects capital sensitivity requirements, site refurbishments and other end of life equipment replacements. FY25 has seen replacement or upgrade of 10 CT machines, 4 MRI machines, 1 P
Slide 13: Balance Sheet
BALANCE SHEET AUD $m 30 Jun 2025 30 Jun 2024 Key comments: Cash and cash equivalents 52.1 42.4 • FY25 net debt of $298.0m(1) (FY24: $183.5m), being 2.6x(2) EBITDA prior to Trade and other receivables 28.5 24.5 non-operating transactions at 30 June 2025 (FY24: 2.6x(2)) on a pre-AASB 16 Other current
Slide 14: Industry and Regulatory Update
INDUSTRY AND REGULATORY UPDATE FY25 Investor Presentation 14
Slide 15: IDX Well Positioned to Improve Access and Capitalise on Positive Industry Fundamentals
IDX WELL POSITIONED TO IMPROVE ACCESS AND BENEFITS FOR PATIENTS AND CAPITALISE ON POSITIVE INDUSTRY FUNDAMENTALS Ageing population and earlier detection of disease drive demand for diagnostic services. Medicare DI benefits and services growing consistently above long-term growth (refer to ne
Slide 16: Medicare DI Benefits and Services Growing Consistently Above Long-Term Growth
MEDICARE DI BENEFITS AND SERVICES GROWING CONSISTENTLY ABOVE LONG-TERM GROWTH AVERAGES SINCE SEPTEMBER 2023, WITH DIVERGENCE BETWEEN BENEFITS AND SERVICES REFLECTING STRONGER GROWTH IN HIGHER ACUITY MODALITIES Industry growth rates, on a 12–month rolling basis, continue to track ahead of the 10-year
Slide 17: FY26 Strategy, Priorities and Outlook
FY26 STRATEGY, PRIORITIES AND OUTLOOK FY25 Investor Presentation 17
Slide 18: FY26 Strategy, Priorities and Outlook – Good Medicine is Good Business
FY26 STRATEGY, PRIORITIES AND OUTLOOK – GOOD MEDICINE IS GOOD BUSINESS Strategic Mergers & Strategy 1 Grow Existing Business and Margin 2 Acquisitions Drive organic Accelerate use of earnings growth, teleradiology, Drivers of including relentless Drive our digital and AI to Complete IDX and Capitol
Slide 19: Questions
QUESTIONS FY25 Investor Presentation 19
Slide 20: Appendices
APPENDICES FY25 Investor Presentation 20
Slide 21: IDX Vision, Purpose & Values
IDX VISION, PURPOSE & VALUES 21 FY25 Investor Presentation
Slide 22: Group Overview
GROUP OVERVIEW* Geographic Market Victoria New South Wales Queensland Western Australia Tasmania South Australia New Zealand Metro and outer Western Sunshine Coast, Melbourne, Geelong, Ballarat, Rockhampton, Metro Perth, Albury, Lavington, Hobart, Launceston Adelaide Core markets Warrnambool, Mildur
Slide 23: Reconciliation of Operating to Reported EBITDA and Operating to Statutory NPAT
RECONCILIATION OF OPERATING TO REPORTED EBITDA AND OPERATING TO STATUTORY NPAT Consolidated Group IDX Standalone IDX Capitol Consol. IDX IDX AUD $m FY25 FY25 FY25 FY25 FY24 Var. ($) Var. (%) Operating NPAT(1) 19.6 12.0 31.6 19.6 18.1 1.5 8.1% Non operating transactions net of tax Remeasurement of co
Slide 24: Supplementary Information – Items Below EBITDA
SUPPLEMENTARY INFORMATION – ITEMS BELOW EBITDA IDX IDX Capitol1 Pro Forma.2 AUD $m FY25 FY24 Var. ($) Var. (%) FY25 FY25 Comments Operating costs below EBITDA (excluding tax) Depreciation charge on PP&E and capitalised Depreciation of property, plant & equipment 27.7 27.9 (0.2) (0.7%) 12.0 39.7 soft
Slide 25: Disclaimer
DISCLAIMER 1. Some of the information contained in this 3. Past performance of IDX cannot be relied 5. Reliance should not be placed on the presentation contains “forward-looking upon as an indicator of (and provides no information or opinions contained in this statements” which may not directly or