Slide 1: 1H FY26 Results
1H FY26 RESULTS Dr. Ian Kadish - Managing Director & CEO Craig White – CFO 24 February 2026
Slide 2: 1H FY26 Results Overview – Key Highlights
1H FY26 RESULTS OVERVIEW – KEY HIGHLIGHTS Group Group Strong revenue growth of 55.6% to �393.5m (including six months contribution from 1 1H FY26 vs 1H FY25 Capitol) AUD $m Revenue 393.5 55.6% (1) 2 Improved operating EBITDA margin of 20.6% (up 230bps vs 1H FY25) Operating EBITDA 81.1 75.6% Operatin
Slide 3: Strategic Overview – Key Progress Update
STRATEGIC OVERVIEW – KEY PROGRESS UPDATE Capitol merger LFL organic growth Greenfield and inorganic growth Integration well advanced - annual Continued evaluation and implementation synergies of �14m+ significantly exceed Ongoing focus on driving organic growth of incremental greenfield and in
Slide 4: IDX Operational Platform
IDX OPERATIONAL PLATFORM IDX national platform Enhanced • High quality network of 144 sites across Australia and New operational Zealand with 485 radiologists(1) and ~3,000 staff 144 Total IDX sites scale and • GP and specialist referral network in metro and regional areas network IDXt coverage Stro
Slide 5: Continuing to Deliver on Our Values in 1H FY26
CONTINUING TO DELIVER ON OUR VALUES IN 1H FY26 • Excellent average patient • 485 employed or • ~3,000 employees • Annual ongoing merger • Continuing focus on • Continuing to broaden NPS of +82(1) contracted reporting synergies achieved from delivering our ESG strategy referrer base in NZ to radiolog
Slide 6: Financial Performance
FINANCIAL PERFORMANCE 1H FY26 Investor Presentation 6
Slide 7: 1H FY26 Financial Results – Overview
1H FY26 FINANCIAL RESULTS – OVERVIEW Group Group(1) Group Group AUD $m 1H FY26 1H FY25 Var. ($) Var. (%) Revenue 393.5 252.9 140.6 55.6% (2) Operating EBITDA 81.1 46.2 34.9 75.6% Operating EBITDA margin 20.6% 18.3% 2.3% (2) Operating EBITA 47.3 22.7 24.6 108.2% Operating EBITA margin 12.0% 9.0% 3.0%
Slide 8: 1H FY26 Financial Results - Pro Forma Profit & Loss
1H FY26 FINANCIAL RESULTS - PRO FORMA PROFIT & LOSS Group IDX Capitol(1) Pro Forma(2) Key comments: AUD $m 1H FY26 1H FY25 1H FY25 1H FY25 Var. ($) Var. (%) • 1H FY26 Operating EBITDA margin of 20.6% 130bps Revenue 393.5 249.4 122.7 372.1 21.4 5.7% stronger than 1H FY25 pro forma Adjusted Operating
Slide 9: 1H FY26 Financial Results – Revenue
1H FY26 FINANCIAL RESULTS – REVENUE Group IDX Capitol(1) Pro Forma(2) AUD $m 1H FY26 1H FY25 1H FY25 1H FY25 Var. ($) Var. (%) (3) Revenue 393.5 249.4 122.7 372.1 21.4 5.7% Key comments: • Solid Group revenue growth driven by growth in patient volumes, Medicare indexation and continued favourable mi
Slide 10: 1H FY26 Financial Results – Operating Expenditure
1H FY26 FINANCIAL RESULTS – OPERATING EXPENDITURE % of Revenue (1) (2) Group IDX Capitol Pro forma Group Pro forma(2) AUD $m 1H FY26 1H FY25 1H FY25 1H FY25 Var. ($) Var. (%) 1H FY26 1H FY25 Consumables 17.7 11.7 4.0 15.7 2.0 12.6% 4.5% 4.3% Labour(3) 245.5 158.7 76.1 234.8 10.7 4.6% 62.4% 63.8% Equ
Slide 11: 1H FY26 Financial Results - Cash Flow / Cash Conversion
1H FY26 FINANCIAL RESULTS - CASH FLOW / CASH CONVERSION Group Group(1) AUD $m 1H FY26 1H FY25 Var. (%) Operating EBITDA 81.1 46.2 75.5% Non-cash items in EBITDA 1.4 1.0 33.6% Changes in working capital (12.3) (1.0) 1093.0% Cash payments on lease principal element (17.5) (10.7) 63.7% Replacement capi
Slide 12: Capital Expenditure
CAPITAL EXPENDITURE Capex investment aligned with IDX’s strategy, both enhancing and expanding the equipment fleet for the benefit of patients 1H FY26 replacement capex of �16.9m Replacement capex reflects capital sensitivity requirements, site refurbishments and other end of life equipment replacem
Slide 13: Balance Sheet
BALANCE SHEET Group Group Group Key comments: AUD $m 31 Dec 2025 30 Jun 2025 31 Dec 2024 • 1H FY26 net debt of $317.9m(1) (1H FY25: $298.7m), being 2.5x(2)(3) EBITDA prior to non-operating Cash and cash equivalents 34.1 52.1 31.3 transactions at 31 December 2025 (1H FY25: 2.8x(2)) on a pre-AASB 16 b
Slide 14: Industry and Regulatory Update
INDUSTRY AND REGULATORY UPDATE 1H FY26 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 driving increasing demand for diagnostic services. Medicare DI benefits and services growing consistently above long-term growth
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 Commentary 15.0% Industry growth rates, on a 12–month rolling basis, conti
Slide 17: FY26 Strategy, Priorities and Outlook
FY26 STRATEGY, PRIORITIES AND OUTLOOK 1H FY26 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, Complete IDX and Capitol merger Drivers of including relentless Drive our digital and
Slide 19: Questions
QUESTIONS 1H FY26 Investor Presentation 19
Slide 20: Appendices
APPENDICES 1H FY26 Investor Presentation 20
Slide 21: IDX Vision, Purpose & Values
IDX VISION, PURPOSE & VALUES 21 1H FY26 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, Mildura
Slide 23: Reconciliation of Operating to Reported EBITDA and Operating to Statutory NPAT
RECONCILIATION OF OPERATING TO REPORTED EBITDA AND OPERATING TO STATUTORY NPAT Group Group(1) Group Group AUD $m 1H FY26 1H FY25 Var. ($) Var. (%) Operating NPAT 22.3 8.8 13.5 154.6% Non operating transactions, net of tax Remeasurement of contingent consideration liabilities (2.2) 5.2 Transaction, r
Slide 24: Supplementary Information – Items Below EBITDA
SUPPLEMENTARY INFORMATION – ITEMS BELOW EBITDA Group IDX Capitol(1) Pro forma(2) AUD $m 1H FY26 1H FY25 1H FY25 1H FY25 Var. ($) Var. (%) Comments Operating costs below EBITDA (excl. tax) Depreciation charge on PP&E and capitalised Depreciation of property, plant & equipment 19.8 13.6 7.0 20.7 (0.8)
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