Privia Health Group, Inc. · NASDAQ:PRVA

Privia Health — Investor Presentation (August 2026)

25 slides from Privia Health's investor presentation, August 2026

1. Slide 1: Investor Presentation August 2026

   Investor Presentation August 2026

2. Slide 2: Disclaimer

   Disclaimer Forward-Looking Statements This presentation contains forward-looking statements that express the Company’s opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results that include, but are not limited to: 2026 financial guidance

3. Slide 3: Building One of the Largest Primary Care Centric Delivery Networks

   Building One of the Largest Primary Care Centric Delivery Networks 1 NATIONAL PRESENCE 25 States + Includes 9 VBC-only States D.C. 50+ Specialties 1,300+ Care Center Locations 6.1M+ Patients 1.64M+ Attributed Lives* 5,644 Implemented Providers ** 98% Gross Provider Retention*** Implemented Providers

4. Slide 4: Proven, Differentiated Business and Economic Model

   Proven, Differentiated Business and Economic Model Multi-Specialty Medical Groups ✓ Diversified FFS & VBC Contracts ✓ Significant Provider Autonomy ✓ All Providers, Patients & ✓ Physician-led Governance Reimbursement Models ✓ Very Large TAM ✓ Aligned for Success Risk-Bearing Tech and Services Entities

5. Slide 5: Consistent, Replicable Strategy Across all Geographies

   Consistent, Replicable Strategy Across all Geographies Transition at Enter Organize Drive Growth & Scale to Value & Market Providers Profitability Risk ● Single-TIN multi-specialty ● Community physicians ● Fee-For-Service (FFS) & ● Commercial medical group Value-Based Care (VBC) ● Health systems ● MS

6. Slide 6: Delivering Tangible Value to Providers and Payers

   Delivering Tangible Value to Providers and Payers Value to Providers Value to Payers ● Enhanced fee-for-service contracts ● Large community-based, multi-specialty care delivery networks ● Expense savings ● Ability to perform across the spectrum of ● Collections improvement through robust value-based

7. Slide 7: Methodical Process Helps Providers Move Towards Value

   Methodical Process Helps Providers Move Towards Value 1 2 3 4 5 PRACTICE ENHANCED FUNDAMENTALS COMPREHENSIVE ADVANCED FUNDAMENTALS EXPERIENCE OF VALUE CARE RISK MODEL Stabilize the practice to Upgrade the patient Execute on Take greater Redesign practice create a successful base experience fundament

8. Slide 8: Comprehensive Tech and Services Platform for All Providers

   Comprehensive Tech and Services Platform for All Providers Holistic solution eliminates need for providers to buy & integrate 30+ point solutions Significantly reduces administrative burden on providers, enabling them to focus on patient care 8

9. Slide 9: Diversified Value-Based Platform

   Diversified Value-Based Platform 1 1.64+ Million 130+ Total Attributed Lives VBC Contracts 942K 705K Commercial Government • 61% Upside Only Lives Lives • 39% Upside / Downside 340K 230K CMS Medicare 136K Medicare Medicaid Advantage program Lives Lives Lives • 83% Enhanced Track/ • 71% Upside Only •

10. Slide 10: $15.7 Billion in VBC Medical Spend Under Management

    $15.7 Billion in VBC Medical Spend Under Management 1 $15.7 Billion Total Medical Spend Under Privia VBC Contracts $7.0B $8.7B Commercial Government Medical Medical • 61% Upside Only Spend Spend • 39% Upside / Downside $4.8B $3.3B $0.7B MSSP MA Medicaid Medical Medical Medical Spend Spend Spend • 83

11. Slide 11: Extensive Experience in Managing Risk

    Extensive Experience in Managing Risk ”It’s Called Risk for a Reason” 1 All data estimated as of January 1, 2024. For illustrative purposes only. 11

12. Slide 12: Predictable and Recurring Revenue Model

    Predictable and Recurring Revenue Model SaaS Management Fee Care Management Fee Base recurring fee for joining Payer funded recurring per life Privia Medical Group, covering per month revenue to support services delivered through VBC infrastructure, including technology and services platform populat

13. Slide 13: Proven Unit Economics at Scale

    Proven Unit Economics at Scale 12% D eclin ease e Incr 38% 36% se rea De clin % Inc e 57 13

14. Slide 14: Strong Balance Sheet and Capital Position

    Strong Balance Sheet and Capital Position ● $412.2M in net cash and no debt as of 6.30.26 ● Full cash tax payer in FY’26 ● Final MSSP 2025 results expected in November 2026 ● Expect 70-80% of FY’26 Adjusted EBITDA1 to convert to Free Cash Flow2, subject to timing of MSSP cash settlement (In millions

15. Slide 15: Updated FY'26 Guidance Metrics

    Updated FY’26 Guidance Metrics 1 Initial FY’26 Guidance Updated FY’26 Guidance FY’25 Actual ($ in millions) at 2.26.26 at 8.6.26 Low High Implemented Providers 5,380 5,900 6,000 No Change Attributed Lives 1,541,000 1,550,000 1,600,000 1,625,000 - 1,650,000 Practice Collections $ 3,470.5 $ 3,650 $ 3,

16. Slide 16: Consistent Growth & Profitability Across Cycles

    Consistent Growth & Profitability Across Cycles 1 MA / MEDICAID PRE-COVID COVID POST-COVID HEADWINDS 1 Any slight variations in percentages are due to rounding. Management has not reconciled forward-looking non-GAAP measures to their most directly comparable GAAP measures because the Company cannot p

17. Slide 17: Appendix

    Appendix 17

18. Slide 18: 2Q Performance

    2Q Performance 1 Implemented Providers Attributed Lives Practice Collections ($mm) (end of period) (‘000s, end of period)1 +10.1% +19.2% +12.4% Care Margin ($mm) Platform Contribution ($mm) Adjusted EBITDA ($mm) +14.7% +20.1% +29.0% % Practice Collections 6.7% 7.1% % Practice Collections 3.4% 3.9% %

19. Slide 19: Six Month Performance

    Six Month Performance 1 Practice Collections ($mm) Care Margin ($mm) +13.4% +18.3% Platform Contribution ($mm) Adjusted EBITDA ($mm) +24.5% +32.5% % Practice Collections 6.6% 7.2% % Practice Collections 3.4% 3.9% % Care Margin 49.5% 52.1% % Care Margin 25.2% 28.3% 1 19 Any slight variations in calcu

20. Slide 20: Reconciliation of Gross Profit to Care Margin

    Reconciliation of Gross Profit to Care Margin l 20

21. Slide 21: Reconciliation of Gross Profit to Platform Contribution

    Reconciliation of Gross Profit to Platform Contribution m 21

22. Slide 22: Reconciliation of Net Income to Adjusted EBITDA

    Reconciliation of Net Income to Adjusted EBITDA n 22

23. Slide 23: Reconciliation of Gross Profit to Care Margin

    Reconciliation of Gross Profit to Care Margin 23

24. Slide 24: Reconciliation of Net Income (Loss) to Adjusted EBITDA

    Reconciliation of Net Income (Loss) to Adjusted EBITDA 24

25. Slide 25: Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow

    Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow 25

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