Agilon Health, Inc. · NYSE:AGL

Agilon Health — J.P. Morgan 41st Annual Healthcare Conference 2023

15 slides from Agilon Health's conference presentation, Jan 9, 2023

  1. Slide 1: Investor Presentation

    Investor Presentation January 2023

  2. Slide 2: Disclaimers and Forward-Looking Statements

    Disclaimers and Forward-Looking Statements FORWARD-LOOKING STATEMENTS AND OTHER INFORMATION Statements in this presentation that are not historical facts are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Ex

  3. Slide 3: Primary Care Physicians Need a New Business Model

    Primary Care Physicians Need a New Business Model Senior Population Increasing Primary Care Growing Focus on Value Capacity is Strained 62M 75M 100% ~10–20% Medicare population CMS target for Medicare Projected shortage in primary 2020–2030 beneficiaries in total cost models care capacity by 2030 Tr

  4. Slide 4: agilon Is Leveraging Powerful Drivers

    agilon Is Leveraging Powerful Drivers Scaled • 11 to 25 markets from 2021-2023 First Mover • 238k to ~500k members from 2021-2023 PCPs Join Invest More in PCPs Are • 1,300 to 2,200+ PCPs from 2021-2023 agilon Network Care Delivery Winning • >$400M reinvested with PCPs since 2018 Better • 4+ Star qua

  5. Slide 5: agilon and Market Opportunity at Inflection Point

    agilon and Market Opportunity at Inflection Point Markets Members Member Additions Medicare Advantage (MA) Medicare Advantage (MA) >130K 25 Direct Contracting/ACO REACH Direct Contracting/ACO REACH >120K ~500K 107K ~65% 17 >50% 360K 400K+ CAGR CAGR 84K 11 238K 270K 55K 8 41K 186K 34K 131K 28K 4 90K

  6. Slide 6: Inflecting Margins on Higher Membership Growth

    Inflecting Margins on Higher Membership Growth Medical Margin Adjusted EBITDA Adj. EBITDA Progression $300M- $75M- $309M $90M +$70-80M ~65% CAGR +$40-45M $182M $2M- $7M +$18M $63M ($32)M $54M ($39)M ($57)M -$25M 2018 2019 2021 2022G '18-'19 '19-'21 '21-'22G '22G-'23G 2018 2019 2021 2022G 2023G Chang

  7. Slide 7: Annual Margin Progression Driven by Maturing Membership Base

    Annual Margin Progression Driven by Maturing Membership Base Medical Margin PMPM Adj. EBITDA Progression EBITDA Drivers (Partner Markets) Year 1 Year 2+ Total Change in Adjusted EBITDA Year 2+ Partner Markets Partners Partners Partners Adjusted EBITDA +$40-45M • ~$125 Medical Margin PMPM for Year 2+

  8. Slide 8: Consistent Approach to Improving Access, Quality, and Utilization

    Consistent Approach to Improving Access, Quality, and Utilization Patient Access Quality Performance Utilization (2022 vs. 2020) (2022 vs. 2020) (2022 vs. 2021) 2022 Physician Performance 2022 Physician Performance 2022 Physician Performance 100% 2021 Bottom Quartile 171 100% 40% ADK Condition Reass

  9. Slide 9: Scaling Quality and Utilization Outcomes Across Network

    Scaling Quality and Utilization Outcomes Across Network Quality Star Performance Efficient Utilization Medicare FFS Benchmark agilon 4.6 Readmissions 17.4% 4.5 29% 12.4% Better 4.4 4.3 Class of 2018 4.2 Readmission Rate 4.1 Class of 2020 Hospital Admissions 231 27% Better 168 4.0 3.9 3.8 Admissions

  10. Slide 10: Exceptional Quality Performance for Diabetic Patients

    Exceptional Quality Performance for Diabetic Patients Improving Diabetes Care Better Patient Outcomes Blood Glucose Control for Patients with Diabetes Acute Inpatient Admits per K 88% 183 90% agilon 200 153 157 85% 81% 150 Uncontrolled ’20 &’21 80% MA Average 100 Controlled ’20 &’21 50 109 95 75% 79

  11. Slide 11: Rapid Expansion of agilon Network

    Rapid Expansion of agilon Network agilon Network: 25 Markets in 12 States PCPs on agilon Platform Markets in ‘18 Markets added ’19-’23 2,200+ Syracuse, Portland, Minn.-St. Paul, MN Buffalo, NY Bangor, ME Traverse City, Hartford, CT Grand Rapids, Detroit, MI 1,600+ Pittsburgh, PA Columbus, Akron, Tol

  12. Slide 12: January Business Update

    January Business Update Strong Momentum Entering 2023 and High Visibility to 2024 Membership Growth • Reaffirming Adjusted EBITDA Guidance for 2022 of $2M-$7M • ~$40M-$45M YoY increase to Adjusted EBITDA compared to 2021 • Providing Preliminary Adjusted EBITDA Outlook for 2023 of $75M-$90M • ~$70M-$

  13. Slide 13: Appendix

    Appendix Copyright © 2023 agilon health. Confidential internal document containing proprietary information. Do not distribute. 13

  14. Slide 14: Non-GAAP Reconciliations

    Non-GAAP Reconciliations (Dollars in thousands) Year Ended December 31, 2021 2020 2019 2018 Net income (loss) $(406,787) $(60,052) (282,588) (146,926) (Income) loss from discontinued operations, net of income taxes 1,303 (3,156) 168,285 65,338 Interest expense 6,146 8,135 9,068 9,839 Income tax expe

  15. Slide 15: Financial Outlook for Fiscal Year 2022

    Financial Outlook for Fiscal Year 2022 Year Ending December 31, 2022 Ending MA Members 268,000 – 270,000 Ending DCE Members 85,000 – 87,000 Total Revenue $2,674M – $2,683M Medical Margin $300M – $309M Adjusted EBITDA $2M – $7M We have not reconciled guidance for Adjusted EBITDA to net income (loss),

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