Astrana Health Inc. · NASDAQ:ASTH
Astrana Health — Investor Presentation (May 2025)
25 slides from Astrana Health's investor presentation, May 13, 2025
Slide 1: Investor Presentation May 2025
Investor Presentation May 2025
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 199§Section 27A of the Securities Act and Section 21E of the Exchange Act. Forward- looking statements include any statements about the Company's bus
Slide 3: Astrana Accelerates Healthcare Transformation At Scale
Astrana Accelerates Healthcare Transformation At Scale Astrana Health is a healthcare platform that organizes and empowers providers to drive accessible, high-quality, and high-value care for all patients through a provider-centric, Scale) technology-driven approach via its three business segments i
Slide 4: The status quo for healthcare in the United States is broken
The status quo for healthcare in the United States is broken Insufficient & costly access to quality care +, Astrana Health Poor provider and patient satisfaction Limited technology & coordinated care Example geography: San Gabriel Valley \ PASADENA ‘SOUTH PASADENA ‘SANGABRIEL ® Primary care Special
Slide 5: Astrana transforms the status quo into...
Astrana transforms the status quo into... Accessible, High-quality, Coordinated ...care delivery networks Hiln “Rye Example Network: Astrana in San Gabriel Valley! ‘Through our business segments, we build critical density in markets to ensure access to quality care aetna digna —“evenge cewree, Human
Slide 6: Astrana's model makes care more accessible for patients and improves outcomes
Astrana’s model makes care more accessible for patients and improves outcomes 45% Fewer hospital admissions than benchmark’ +. Astrana Health 14% Shorter inpatient length of stay vs benchmarke Leslie’ its anAstranaCa i anir-net \lains the nee 70% Of prior authorizations auto-approved, driving increa
Slide 7: 2019 2020 2021 2022 2023 2024 2025E 2019 2020 2021 2022 2023 2024 2025E
2019 2020 2021 2022 2023 2024 2025E 2019 2020 2021 2022 2023 2024 2025E
Slide 8: Astrana reiterates FY2025 guidance
Astrana reiterates FY2025 guidance (Sin millions, except for per share information) Total Revenue $620.4 $615-$655 Total Revenue $2,034.5 $2,500-$2,700 Adjusted EBITDA‘: $36.4 $45-$50 Adjusted EBITDA':* $170.4 $170-$190 1. See"Reconcilation of Net income to EBITDA and Adjusted EBITDA,” “Guidance Rec
Slide 9: Execution Playbook
Execution Playbook
Slide 10: The Astrana Playbook
+. Astrana Health The Astrana Playbook Growth: Sustainably growing membership to bring better care to more Americans Risk Progression: Increasing alignment with patient outcomes through responsible risk progression in value-based arrangements Outcomesand Cost:Achieving superior patient outcomes and
Slide 11: Astrana has developed a differentiated model to drive continued and sustainable growth
Astrana has developed a differentiated model to drive continued and sustainable growth The Astrana Playbook Adjusted EBITDA c zi (Sin millions) Growth - OrganicandInorganic Core Astras atloaee . . I Prospect proforma (-27% CAGR )—» Risk Progression jf ee Prospect pre-close Ml Synergies Outcomes and
Slide 12: We've demonstrated our ability to provide better care at lower cost in our core market, California
We've demonstrated our ability to provide better care at lower cost in our core market, California California 1992 2019 2021-2022 2023 2024 26.7M cee Oo OB 20.6M — PP y 14.4M Population Reach Population Reach — = a Launchedin Built density in Expanded into Expanded into DeepenedCA Alignment Southern
Slide 13: We continue to deploy the Astrana playbook in new markets consistently
We continue to deploy the Astrana playbook in new markets consistently Building a differentiated experience for patients & providers Build and grow a differentiated provider network Generate opex efficiencies es Leveraging Invest in patient programs, preventive care, and care management Bend the cos
Slide 14: Astrana has the ability to integrate significant inorganic growth profitably
Astrana has the ability to integrate significant inorganic growth profitably through our scalable clinical and technology infrastructure Community Family Care (CFC) Overview anew: Oy CFCIPA was an independent physician association (“IPA”) that managed members acrossall LOBsin theLos Angeles, Califor
Slide 15: Highly complementary inorganic growth through our acquisition of Prospect
dO Grout Highly complementary inorganic growth through our acquisition of Prospect .+. Astrana Health Pro forma geographic footprint Pro forma 2024 revenue mix by payer’ 32years Operating history 1.1M Members in value-based care arrangements $2.03B 2024 Revenue? $170.4M 2024 Adj. EBITDA? - FAL ROSPE
Slide 16: 2021 2022 2023 2024 2025 Q1 2025E 2025
2021 2022 2023 2024 2025 Q1 2025E 2025
Slide 17: Our purpose-built, intelligent, value-based care platform drives scalable and repeatable results
Our purpose-built, intelligent, value-based care platform drives scalable and repeatable results across our business | : er | a = ae 4 Provider Empowerment Care Management & Population Health & ‘Oneratingleverage and Engagement Patient Outcomes Analytics E g 8 + Alkin-one point-of-care tool for + In
Slide 18: Our Care Enablement platform creates operating leverage for new clients and Care Partners
Our Care Enablement platform creates operating leverage for new clients and Care Partners Data Infrastructure and Provider Solutions | Clinical and Care Coordination Solutions Payer Delegation Solutions 3 = =. 2 FB 8 gs @ &%® & &B © #& Ops VBE'Suite& _Pointof_ Analytics & Clinical UMP&Care | Provide
Slide 19: Execution of our strategy drives profitable growth
Execution of our strategy drives profitable growth yo Adj.EBITDA(S in Revenue(S in millions) an ions) (s Growth "22% CAGR su0- $2,500- $190 "29% CAGR $2,700 170.4 Risk Progression Sia $100.0 $2,035 eo Outcomes and Cost a $1,387 sua ; $542 Operating Leverage sex ht. un} J 2019 2020 20212022 «2023» 20
Slide 20: Building the premier, patient-centered healthcare platform for all
Building the premier, patient-centered healthcare platform for all .+. Astrana Health Growth Sustainably growing membership to bring better care to more Americans / Perm Risk Progression © Increasing alignment through total cost of care y Leal ane responsibility in value-based arrangements Outcomes
Slide 21: Appendix
Slide 22: Reconciliation of Net Income to EBITDA & Adjusted EBITDA
Reconciliation of Net Income to EBITDA & Adjusted EBITDA Three Months Ended December 31, Twelve Months Ended December 3, $in thousands 2024 2023 2024 2023 Net Income $ (7,777) (94) $ 49.932 $ 57,849 Interest Expense 8,069 5,422 33,097 16,102 Interestincome (3,221) (4,591) (14,508) (14,208) Provision
Slide 23: Reconciliation of Net Income to EBITDA & Adjusted EBITDA (continued)
Reconciliation of Net Income to EBITDA & Adjusted EBITDA (continued) For the twelve months ended Year Ended Sinmillions 2024 2023 2022 2021 2020 2019 Net Income $ 499 $ 578 $ 457 $ 461 $ 1221 § 158 Interest expense 331 16.1 7.9 54 9.5 AT Interestincome (145) (14.2) (2.0) (1.6) (28) (2.0) Provision f
Slide 24: Guidance Reconciliation of Net Income to EBITDA & Adjusted EBITDA
Guidance Reconciliation of Net Income to EBITDA & Adjusted EBITDA 2025 Guidance Range (in thousands, $) Low High Net Income 62,500 73,500 Interest expense 16,000 19,000 Provision for income taxes 34,000 40,000 Depreciation and amortization 32,500 32,500 EBITDA 145,000 165,000 Loss (income) from equi
Slide 25: investors@astranahealth.com
investors@asti anahealth.com)