Medibank Private Ltd. · ASX:MPL
Medibank Private — Investor Presentation (October 2025)
57 slides from Medibank Private's investor presentation, Oct 29, 2025
Slide 1: Health immersion 2025
Health immersion 2025 Investor presentation 29 October 2025
Slide 2: Acknowledgment of Country
Acknowledgment of Country Medibank acknowledges Aboriginal and Torres Strait Islander peoples as the First Peoples of this nation. We proudly recognise Elders past, present and emerging as the Traditional Owners and Custodians of the lands on which we work and live. We’re committed to supporting sel
Slide 3: Setting new ambitions as we accelerate growth
Setting new ambitions as we accelerate growth Today we will showcase how Medibank is positioned to lead and continue to grow as a health company This means we aim to: Grow earnings Strengthen our business Transform health enabling shareholder value creation FY30 aspirations Empowered by Australia’s
Slide 4: Agenda
Agenda Part 1 – The opportunity for transformation in Australian health Australia’s health system David Koczkar – Chief Executive Officer Global case studies in health Dr Andrew Wilson, Hub Lead – Chief Medical Officer Technology’s role in the health transition Felicia Trewin, Group Lead – Data & Te
Slide 5: Australia's health system
Australia’s health system David Koczkar Chief Executive Officer
Slide 6: Overview of Australia's healthcare system
Overview of Australia’s healthcare system A dual model providing accessibility and choice • National priority: 9.9% of GDP on healthcare1 vs OECD average (9.2%)2 • Global leadership: ranked top 3 globally in 2021 by the Commonwealth Fund for health outcomes3 Key strengths • Highly skilled workforce:
Slide 7: The need for change in Australia's health system
The need for change in Australia's health system Rising consumer expectations are outpacing a system that remains slow to innovate The shifting health demands Existing pressures impact the ability of consumers to meet consumer needs By 2053, 21% of Australians will be 65+ and 4.2% Ageing will be 85+
Slide 8: Australia's health transition
Australia’s health transition Four system shifts essential to drive the health transition Traditional model New focus Treatment Prevention Reactive and episodic care focused Proactive and preventative care on treating illness Hospital Community Shift to lower cost, quality Default, high-cost setting
Slide 9: Global case studies in health
Global case studies in health Andrew Wilson Chief Medical Officer
Slide 10: Shift 1: from treatment to prevention
Shift 1: from treatment to prevention South Africa redefined primary care with prevention-focused teams and integrated screening Increased awareness and demand due to rising burden Case for change of long-term disease on public health Lessons for Australia • Bridge funding for transition from Policy
Slide 11: Shift 2: from hospital to community
Shift 2: from hospital to community Singapore transitioned to community-based care, expanding telehealth and prevention-focused funding Rapidly ageing population (1 in 4 Singaporeans will be Case for change 65+ by 2030)1 with strong preference for home-based care Lessons for Australia • Shift toward
Slide 12: Shift 3: from analogue to digital
Shift 3: from analogue to digital Sweden integrated virtual care into the public system to enable equitable, scalable digital access Digitally literate population (90%)1 and strong demand for Case for change convenience with COVID normalising telehealth Lessons for Australia • Digital foundations: N
Slide 13: Shift 4: from generic to personalised
Shift 4: from generic to personalised UK is embedding genomics, data, and innovation into the NHS to deliver more personalised care Patients increasingly expect personalised, proactive care, Case for change with nearly half wanting more involvement in decisions Lessons for Australia Policy: The NHS
Slide 14: Technology's role in the health transition
Technology’s role in the health transition Felicia Trewin Group Lead – Data & Technology
Slide 15: Shift 1: from treatment to prevention
Shift 1: from treatment to prevention AI-driven diagnostics and predictive analytics enabling earlier risk detection and personalised insights Technology themes Thematic examples1 Early risk detection: AI could help identify OpenUp and iPractice collaborate to form a continuum emerging health risks
Slide 16: Shift 2: from hospital to community
Shift 2: from hospital to community Edge computing, smart home systems, and wearable biosensors supporting real-time monitoring, early intervention, and safe ageing-in-place Technology themes Thematic examples1 Personalised care: Data from home sensors and SHINESeniors program uses smart home sensor
Slide 17: Shift 3: from analogue to digital
Shift 3: from analogue to digital Digital identity, interoperable health data, virtual assistants, and ambient AI enabling secure, intelligent, and connected care Technology themes Thematic examples1 Seamless data flow: Unified digital identity and Rhapsody provides a platform that connects differen
Slide 18: Shift 4: from generic to personalised
Shift 4: from generic to personalised Advances in genomics, pharmacogenomics, and digital triage enabling precision medicine and orchestrated, individualised interventions Technology themes Thematic examples1 Data-driven precision care: Digital triage and Clinical Architecture together with Progress
Slide 19: Medibank: a growing and differentiated health company
Medibank: a growing and differentiated health company David Koczkar Chief Executive Officer
Slide 20: Medibank – about us
Medibank – about us Purpose Better Health for Better Lives Vision To create the best health and wellbeing for Australia Our brands Supports the health and wellbeing of Offers straightforward health cover and Delivers innovative healthcare at scale customers with a range of personalised multi-categor
Slide 21: We've invested over $300m over the last decade to grow as a health company
We’ve invested over $300m over the last decade to grow as a health company Medibank / ahm Amplar 2017 2018 2019 2020 2021 2022 2023 2024 2025 Wellbeing1 Primary care2 Minority Investment Minority Investment Majority Investment 100% ownership Community and acute care3 JV with Calvary Acquisition of C
Slide 22: We support consumers across the entire care journey
We support consumers across the entire care journey Segments Wellbeing Primary care Community and acute care Low High Care acuity continuum Be better Stay better Get better PHI customers with growing non-PHI Consumers Supporting both private and public consumers cohort Source of Consumers | corporat
Slide 23: Key points
Key points Australia’s health system is world leading but under pressure • Rising demand from ageing population, chronic disease, and mental health needs • Misaligned capacity and lack of innovation drives inefficiencies and rising costs Four system shifts that are essential to drive the health tran
Slide 24: Wellbeing
Wellbeing Milosh Milisavljevic Group Lead – Chief Customer Officer
Slide 25: Wellbeing overview
Wellbeing overview We are well positioned across multiple high potential segments • Total FY25 segment size: $113b ($31b in Everyday Wellbeing, Estimated opportunity size in wellbeing3 $b % Estimated FY25-30 CAGR $1.3b in Corporate Health and $80b in Financial Wellbeing)1 • Segment opportunity incre
Slide 26: Our current wellbeing offering
Our current wellbeing offering Supporting healthier lives through everyday wellbeing, workplace solutions and financial wellbeing Everyday wellbeing Corporate health Financial wellbeing Live Better is one of the largest health and Medibank Workplace Wellbeing complements We offer personal insurance
Slide 27: Established wellbeing foundations driving sustained momentum
Established wellbeing foundations driving sustained momentum Deepening customer relationships and accelerating new opportunities Everyday wellbeing Corporate health Financial wellbeing FY23-25 CAGR FY23-25 CAGR FY23-25 CAGR 0.9m Live Better rewards participants 16% 14% corporate accounts 23% 340k fi
Slide 28: Opportunities to accelerate growth
Opportunities to accelerate growth We have a clear strategy to deliver greater customer value and long-term growth Strategy pillars Everyday wellbeing Corporate health Financial wellbeing Expand health and wellbeing leadership while Scale workplace health solutions and Grow core portfolios and boost
Slide 29: Key points
Key points We’re building a connected wellbeing ecosystem that not only strengthens our core business, but is a major platform for growth • Extends relevance beyond PHI through everyday wellbeing, workplace solutions, and financial wellbeing • Strong foundations already driving engagement, retention
Slide 30: Amplar Health
Amplar Health Robert Read Group Lead – Amplar Health
Slide 31: Primary care
Primary care Robert Read Group Lead – Amplar Health
Slide 32: Primary care overview
Primary care overview Large segment with growing demand for prevention and proactive, personalised care Estimated opportunity size in primary care ($b) • FY25 primary care segment size: c.$70b1 % Estimated FY25-30 CAGR • Strong segment opportunity due to growing demand for: General practice3 Clinica
Slide 33: Our progress and our strengths
Our progress and our strengths Having established strong foundations, we are moving at pace to scale our differentiation Clinical prevention Multi-channel offerings Multidisciplinary teams FY23-25 CAGR FY23-25 CAGR FY23-25 CAGR FY25 key results 33k clinical prevention 71% 108k virtual health 24% +2k
Slide 34: Opportunities to accelerate growth
Opportunities to accelerate growth We have a clear strategy to deliver greater customer value and long-term growth Strategy pillars Clinical prevention Multi-channel offerings Multidisciplinary teams Localise capability across the Grow proactive health Increase proportion of virtual consults Objecti
Slide 35: Key points
Key points ‘Staying better’ starts with accessible, affordable and proactive primary care • Building Australia’s leading multi-channel, multidisciplinary primary care network, targeting 7m GP consults per annum in FY28 • Accelerating the shift from episodic, condition-focused care to personalised in
Slide 36: Morning tea break
Morning tea break
Slide 37: Community and acute
Community and acute Robert Read Group Lead – Amplar Health
Slide 38: Community and acute overview
Community and acute overview The chronic disease burden is accelerating demand beyond the health system’s scalable capacity Estimated opportunity size in community and acute $b Estimated • Total FY25 segment size: $0.4b community1, % FY25-30 CAGR $1.3b acute home health2, $3.3b ambulatory care3 Comm
Slide 39: Our progress and our strengths
Our progress and our strengths Easing persistent hospital capacity constraints on beds and workforce with personalised care models delivered closer to home Community care Acute home health Ambulatory care FY23-25 CAGR FY23-25 CAGR FY23-25 FY25 key 107k visits1 17% 24k admissions2 13% 7 operational a
Slide 40: Opportunities to accelerate growth
Opportunities to accelerate growth Accelerating funder, patient and specialist preferences toward care delivered in the community and the home Strategy pillars Community care Acute home health Ambulatory care Improve proactive and personalised Increase the volume of high acuity care Shorten length o
Slide 41: Key points
Key points ‘Getting better’ starts with our personalised models of care delivered virtually and in people’s home • Acute care delivered virtually in a hotel or the customer’s home, with high NPS and a reduction in public hospital bed block • In-patient mental health and surgical care, that support p
Slide 42: Creating shareholder value
Creating shareholder value Mark Rogers Group Lead – Chief Financial Officer and Group Strategy
Slide 43: Value creation opportunity
Value creation opportunity We see value creation opportunities across three separate, but interconnected lenses • Strong growth prospects across all segments Grow Medibank • Provide more services to meet more needs of Medibank customers health earnings • Participation in segments with typically less
Slide 44: Value drivers of Medibank Health
Value drivers of Medibank Health Earnings growth are driven by customer growth with cost benefits from scale, efficiency and innovation Grow Strengthen Transform + + = Value creation earnings our business health Amplar Health Wellbeing Primary care Community and acute care Everyday wellbeing, corpor
Slide 45: Aiming to grow Medibank Health earnings to at least $200m by FY30
Aiming to grow Medibank Health earnings to at least $200m by FY30 We expect to grow organically and inorganically and execute with strong capital discipline Grow Strengthen Transform + + = Value creation earnings our business health • Focus on volume growth, new products and services Organic • Diver
Slide 46: Synergies create a stronger and more resilient business
Synergies create a stronger and more resilient business Bi-directional opportunities between health and private health insurance1 Grow Strengthen Transform + + = Value creation earnings our business health Meet more health needs of Health 1 engagement more customers Wellbeing Everyday wellbeing Corp
Slide 47: Examples of value creation opportunities
Examples of value creation opportunities Supporting the delivery incremental PHI value of c. 5% of current PHI operating profit by FY30 Grow Strengthen Transform + + = Value creation earnings our business health Live Better Homecare Prevention Live Better rewards participants Acute Home Health3 enro
Slide 48: Key points
Key points Our ambitions in health play a key role as we aspire to grow PHI market share to at least 26.8% by FY30 and we are prepared to invest further in our PHI business to increase this aspiration where this makes commercial sense We see value creation opportunities in health across three separa
Slide 49: Accelerating Australia's health transition
Accelerating Australia’s health transition David Koczkar Chief Executive Officer
Slide 50: Strategic shifts for better health
Strategic shifts for better health Grow Strengthen Transform + + = Value creation earnings our business health Health transition Shared ambition From treatment to prevention Increased health Improved productivity health equity From hospital to community Customer health outcomes From analogue to digi
Slide 51: Medibank: a growing and differentiated health company
Medibank: a growing and differentiated health company Empowering our teams to create the best health and wellbeing for Australia Deepening relationships Supporting whole with customers of health needs • Deliver exceptional customer experience • Proactive and personalised • Personalised service via c
Slide 52: Setting new ambitions as we accelerate growth
Setting new ambitions as we accelerate growth Medibank is positioned to lead and continue to grow as a health company This means we aim to: Grow earnings Strengthen our business Transform health enabling shareholder value creation FY30 aspirations Empowered by Australia’s healthiest workplace Mediba
Slide 53: Key points
Key points Australia’s health system faces growing complexity which requires meaningful system-wide transformation We’re well positioned to lead this transition — backed by a clear strategy, deep capability, and a strong capital position We have strong foundations across growing segments in health O
Slide 54: Q&A
Q&A
Slide 55: Appendix
Appendix
Slide 56: Important notice
Important notice General & Summary Information The information contained in this presentation is general information about Medibank Private Limited You are therefore cautioned not to place undue reliance on any forward-looking statements (“MPL”) and / or its related bodies corporate (together, “MPL
Slide 57: Glossary
Glossary Term Definition Term Definition Acute home health Short-term clinical care delivered at or closer to home under medical or clinical JV Joint venture governance (e.g. hospital in the home), including monitoring, nursing, allied Live Better or A Medibank program to inspire people to lead a he
Medibank Private — Investor Presentation (October 2025) on 6ix