Slide 1: Investor Presentation Company Overview
1 September 3, 2025 Investor Presentation Company Overview
Slide 2: Disclaimer: Forward-Looking Statements
2 Disclaimer Forward-Looking Statements This presentation includes statements that express our management’s opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results and therefore are, or may be deemed to be, “forward-looking statements.
Slide 3: Agenda
3 01 Claritev Vision 02 Product and Offerings 03 Technology 04 Financial Overview Agenda 05 Strategic Growth Initiatives
Slide 4: Claritev Vision
& claritev Claritev Vision
Slide 5: Claritev's Key Business and Capital Structure Goals
5 Claritev’s Key Business and Capital Structure Goals Our goals are clear and allow us to best serve clients, care for our associates, pursue our purpose and maximize shareholder value De-Lever To improve our cash flow position, provide flexibility and diversify the shareholder base De-Risk & Divers
Slide 6: Claritev Overview
6 Claritev Overview 700+ insurance carriers, plan administrators and other payor clients 100K+ employers/ plan sponsors WHO SERVEWE SERVE A global healthcare technology, data and insights company focused on improving affordability, transparency and quality. 60M plan members and patients with access
Slide 7: Opening the Aperture for Healthcare
7 Opening the Aperture for Healthcare We seek to open the aperture on affordability, transparency and quality, and meet mutual interest in healthcare and optimal health plan performance. Value to Payors: • Managing Risk • Increasing Access • Improving Health Outcomes • Fair Reimbursement Value to Em
Slide 8: Global healthcare is at an inflection point
8 Global healthcare is at an inflection point, and we are uniquely positioned to transform it with technology and data Harness the Power of Transparency to Enable Greater Insights Utilize publicly available data to provide actionable population health and financial insights that lower cost, improve
Slide 9: Enterprise Data Platform
9 Enterprise Data Platform Tech-Enabled Platform Supporting the Healthcare Continuum Data Warehouse | AI/ML | Language Models Technical Infrastructure Oracle Cloud Infrastructure | Apex Tools | Externally Sourced Claims Data The Vision To Make Healthcare More Transparent and Affordable for All COMBI
Slide 10: Our Journey
10 Our Journey THE FOUNDATION and THE VISION Clarity | Alignment | Focus, Fit for Growth, Horizons THE TURN Launch Brand, New Products, Business Models, Markets THE WAY UP Focus and Disciplined Execution, Sales Aggression, Growth THE WAY FORWARD Sustained Growth, Independence, Culture, Product, Acqu
Slide 11: Marketplace Aligned
11 Marketplace Aligned Our product and services serve across multiple marketplaces and distribution channels Analytics-Based Services Payment & Revenue Integrity Network VDHP Data & Decision Science Existing New Entry Emerging Revenue/business concentration has historically been here Payors | TPA Br
Slide 12: Our Expansion Initiatives Will Double the Addressable Market
12 Claritev Offering Value-Driven Health Plan Services Our Expansion Initiatives Will Double the Addressable Market $14-18B Claritev Offerings CORE VERTICALS Mid-single-digit long term growth EXPANSION AREAS High single/low double-digits long term growth • OON Analytics $3- 4B • Provider Networks $5
Slide 13: Our Ongoing Transformation
13 Our Ongoing Transformation Where We Began 40+ year history serving U.S. Payors with a leading independent Out-of- Network Platform DEC 24 Dec 2024 Launched our first Provider Product JAN 25 Jan 2025 Announced Digital Transformation, powered by Completed Debt Refinance FEB 25 Feb 2025 Rebranded to
Slide 14: Claritev has Been Re-Invigorated and is Positioned to Accelerate Growth
14 Claritev has Been Re-Invigorated and is Positioned to Accelerate Growth 6 2 3 1 4 5 Recurring Revenue from a Durable, Proven and Highly Profitable Core Business Automated claims processing and integrated offering drives predictable revenue Multiple Avenues to Drive Growth from New Products and Ma
Slide 15: Claritev Is Led By An Experienced Team
15 Claritev Is Led By An Experienced Team with a Fresh Vision for Operationalizing a Path to Maximize Value Travis Dalton President, Chief Executive Officer Joined March 2024 25+ Years of Experience Doug Garis Chief Financial Officer Joined August 2024 15+ Years of Experience Jerry Hogge Chi
Slide 16: Products and Offerings
& claritev Products and Offerings Sa
Slide 17: Network, Analytics and Payment Integrity Solutions
17 Build and manage custom healthcare provider networks with access to 1.4M credentialed providers Data-driven reimbursement solutions for out-of-network claims & support for NSA compliance Identify, correct and prevent improper billing to optimize accuracy and reduce waste and abuse in the healthca
Slide 18: Multiple Near-Term Growth Vectors Across the Portfolio
18 Multiple Near-Term Growth Vectors Across the Portfolio Product Roadmap Highlights*: Q3 2025 – Q2 2026 Analytics Network Payment & Revenue Integrity Data & Decision Science State Surprise Bill ValuePoint® Expansion Q3 2025 Q4 2025 Q1 2026 Q2 2026 IBR Enhanced with End-to-End (E2E) Automation (MVP)
Slide 19: New Product Launches and Enhancements Across Verticals
19 Supplementing Claritev’s Broad Existing Offering with New Product Launches and Enhancements Across Multiple Verticals Red denotes items that support our new Vision * Includes Payors & Providers Note: All new products and enhancements deepen expansion efforts into federal and state government mar
Slide 20: Overview of Key Products
20 Overview of Key Products Applies modern technology to gather, cleanse and transform a client’s financial and clinical data, then apply analytic tools to make it actionable Achievement in Data and Analytics Transforms price transparency data empowering providers to improve pricing strategies with
Slide 21: Bringing Products to Market
21 Bringing Products to Market Innovation and Solution Lifecycle Technology Development & Ops Marketing • Network Solution Area • Analytics-Based Solution Area • Payment & Revenue Integrity Solution Area • Data & Decision Science Solution Area • Technical Definition • Architecture & Platform(s) Stra
Slide 22: Technology
& claritev Technology
Slide 23: Transforming our Technology to Drive Growth
23 Transforming our Technology to Drive Growth Transactional, Aging Systems and Infrastructure Platform to Enable Growth Hybrid, multi-cloud hosting environments Inflexible architecture optimized to transact claims Increasing costs to maintain We have launched a 3-year Digital Transformation effort
Slide 24: Oracle Partnership
24 INCREASED SAVINGS | LOWER RISK Reduce operating costs (post deployment) and remediate technology debt BEST IN CLASS PERFORMANCE, FLEXIBILITY AND RELIABILITY Proven results backed by industry success FASTER INNOVATION AND DELIVERY Shorten development and test cycles DRIVE NEW PARTNERSHIPS AND NEW
Slide 25: Pre-OCI vs Post-OCI Migration Performance
25 Environment Pre-OCI Migration Post-OCI Migration Load Testing 2.5 million claims in 24 hours [REG environment] • Server downtime, resource bottlenecks and performance degradation • Hardware limitations • Zero downtime, no performance lags, fast response times • Scalable platform to handle high vo
Slide 26: BenInsights + Human Capital Management
26 Automation of a labor-intensive workflow to create a guided experience for Employers that reduces costs, improves quality and transaction time BenInsights + Human Capital Management (HCM) Employer Broker/ Consultant BenInsights Agent/Processor Employer Employee Carrier/ TPA Patient Employer BenIn
Slide 27: Claritev Marketplace
27 Data-as-a- Service C L A R I T E V M A R K E T P L A C E Analytics-as- a-Service Innovation-as- a-Service Insights-as-a- Service Model-as-a- Service Enterprise Data Platform Enabling a marketplace for healthcare data applications and servicesPublic MRF Data | Medical Claims | Provider Demographic
Slide 28: AI Vision & Capabilities
28 AI Vision & Capabilities Positioning Claritev as one of the leaders in technology innovation, transforming the healthcare landscape through AI and data- driven insights BenInsights – Building Agentic AI workflows and Generative AI-powered insights Modernized Risk Scores – Using Gen AI to detect i
Slide 29: Financial Overview
& claritev Financial Overview
Slide 30: Financial Highlights During the Second Quarter 2025
30 Financial Highlights During the Second Quarter 2025: $154.0M $72.1M 103.5% Adjusted EBITDA1,3 63.8% Adjusted EBITDA margin1,3 Unlevered free cash flow1,3 $16.0M ACV Bookings3,4 Total Net Revenue Retention Rate2,3 1 Adjusted EBITDA, Adjusted EBITDA margin and unlevered free cash flow are non-GAAP
Slide 31: Growth and Progress by Vertical – Q2 2025
31 Growth and Progress by Vertical – Q2 2025 • 5 new logos • 5-year contract renewals with Top-5 and Top-20 clients • Continued organic growth in the core with ProPricer® and Data iSight® wins • Enterprise subscription with existing client with minimum $80M TCV over 10 years Payors | TPA1 – Core Bus
Slide 32: 2025 Guidance
32 1 We have not reconciled the forward-looking Adjusted EBITDA guidance included above to the most directly comparable GAAP measure because this cannot be done without unreasonable effort due to the variability and low visibility with respect to certain costs, the most significant of which are ince
Slide 33: Capital Allocation Prioritization
33 Capital Allocation Prioritization Our primary and priority use of additional capital is investment in our business to drive organic growth. HIGHEST PRIORITYOrganic investments to fuel Vision 2030 Plan Debt paydown Value creating M&A Share buybacks HIGH PRIORITY LOW PRIORITY NEAR TERM LOW % OF CAP
Slide 34: Strategic Growth Initiatives
34 Strategic Growth Initiatives
Slide 35: Multi-Pronged Approach to Accelerate Growth
35 Foundation is in Place Multi-Pronged Approach to Accelerate Growth 04 03 02 01 Grow the Core Tailored focus and proactive engagement with existing clients Penetrate New Market Verticals Entry into Provider and MENA marketplaces Accelerate Product Innovation Pursue big swings and ideas to solve gl
Slide 36: Penetrating the Provider Marketplaces
36 Penetrating the Provider Marketplaces 03 Established Marketplace Need and Channels First Provider contract with TailorCare – to provide risk models and manage MSK spend New channel established to distribute CompleteVue Closed Carlinville Area Hospital – CompleteVue, BenInsights, Data Mining Strat
Slide 37: Why International Penetration in Middle East?
37 Why International Penetration in Middle East? ~$21B annual healthcare claims monetization opportunity in MENA region $1B estimate of total addressable market opportunity in UAE alone contributing to rising insurance premiums ~$200M potential market opportunity for payment and revenue integrity Pr
Slide 38: Claims Optimizer
38 Claims Optimizer* Enabling coding accuracy to reduce claim denials PROVIDERS Dhamani Platform Claritev’s Vision for Oman Is the claim correctly billed?Is the claim correctly coded? Our solutions drive efficiency and reduce costs in the claims adjudication process across the care continuum and hel
Slide 39: Horizons for Growth
39 Horizons for Growth 1 Year 3 Years 2 Years Current Roadmap | Investments • Product Enhancements • Technology Modernization – OCI Migration • BenInsights/HCM Integration • Provider Quality Service Forecast | AOP Big Swings Projects under Evaluation • Government Opportunity • ‘Claims Optimizer’ – A
Slide 40: Where Our Transformation Leads Us
40 Where Our Transformation Leads Us World-Class Talent and Leadership with Growth Mindset Serving the Entire Healthcare Continuum Sustainable Growth Diversified Business Model and Product Suite Organic Product Capability Leading with Data, Analytics and Technology Capital Structure that Fits the Bu