Slide 1: Q2 2024 Earnings Presentation
%% 80? WELL Health ee ee TECHNOLOGIES CORP Q2 2024 Earnings Presentation
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward- looking statement
Slide 3: WELL Q2 2024 Financial Highlights
WELL Q2 2024 Financial Highlights Increased guidance for FY2024 Revenue Q2 Revenue - Q2 Adj. EBITDA1 of to $970-990M. $243.1M, +42% Y/Y $30.9M, +11% Y/Y Adj. EBITDA and FCFA2S Guidance Reaffirmed Net Debt to Shareholder Q2 Organic Revenue EBITDA decreased to Paid down $13.9m of Growth of 21% 2.67x i
Slide 4: WELL Q2 2024 Operational Highlights
WELL Q2 2024 Operational Highlights 1.4M patient visits, Over 37,000 unique Over 3,900 Providers in +38% YoY Providers supported by WELL's Clinic Network 2.1M patient WELL's Technology interactions, +48% Y/Y Same Clinic Organic CAN patient visits grew Organic growth at CAN Growth rate at CAN by 41%
Slide 5: Q2 2024 Themes
Q2 2024 Earnings Presentation Themes We will be presenting key updates as it relates to the following themes: 1. Our Various Strategies to unlock sum of the parts value 2. Our plans to spin out our SaaS and Services "Provider Solutions" line of business as a controlled public company 3. Our efforts
Slide 6: Seeking to Unlock Value from Sum-of-Parts
Seeking to Unlock Value from Sum-of-Parts (C$ in millions) 3,000 2,500 2,000 1,500 1,000 500 - Current Implied Enterprise Value Enterprise Value WELL (Current EV) Canadian Clinics Platform Solutions Cyber CRH Wisp Circle Medical AIDX
Slide 7: Strategic Spinout of WELL's Provider Solutions (WPS)
Strategic Spinout of WELL's Provider Solutions (WPS) Canada's Premiere Provider of Physician Software Financial * In Q2, excluding cybersecurity WPS generated $10.4M in revenues at 86% Gross Margins and 30% EBITDA Profile margins with organic growth of 24% YoY iteVldgiatemm * Over 90% of WPS’s reven
Slide 8: Market Leadership in Software to Support Care Providers
Market Leadership in Software to Support Care Providers WPS is the de facto market share leader for tech enabling clinicians in Canada • • • • • • • 1) Users include non-physician clinicians 2) eReferral and engagement figures represent annualized data based on Q2-24 counts. 8
Slide 9: Q2 2024 Financial Highlights – Revenue and Adjusted EBITDA
Q2 2024 Financial Highlights – Revenue and Adjusted EBITDA Revenue Adj. EBITDA (C$ in millions) (C$ in millions) 300.0 32.0 30.9 +11% 250.0 +42% 243.1 30.0 200.0 28.0 27.8 170.9 150.0 26.0 100.0 24.0 50.0 22.0 0.0 20.0 Q2 2023 Q2 2024 Q2 2023 Q2 2024 9
Slide 10: Q2 2024 Financial Highlights – Net Income
Q2 2024 Financial Highlights – Net Income Net Income excluding Unrealized Net Income Gain on HEALWELL shares (C$ in 000s) (C$ in 000s) 140,000 1,000 649 120,000 116,976 500 100,000 - 80,000 -500 60,000 -1,000 40,000 -1,500 20,000 - -2,000 (2,016) (2,016) -20,000 -2,500 Q2-23 Q2-24 Q2-23 Q2-24 10
Slide 11: Q2 2024 Financial Highlights – Adjusted Net Income
Q2 2024 Financial Highlights – Adjusted Net Income CRH’s One Time Revenue Impact Adj. Net Income growth on Adj. Net Income in 2023 adjusted for CRH One-Time (C$ in 000s) (C$ in 000s) 14,000 +13% 12,284 12,000 10,830 10,000 8,000 6,000 4,000 2,000 - Q2-23 exc CRH Q2-24 One Time Revenue 11
Slide 12: Revenue Per Share
Revenue Per Share (C$) $1.20 $0.99 $1.00 $0.80 $0.60 $0.40 $0.16 $0.20 $- 1) 2024 guidance from the press release dated Aug 14, 2024. 12
Slide 13: Adjusted EBITDA and FCFA2S Per Share
Adjusted EBITDA and FCFA2S Per Share (C$) $0.18 5.00% $0.16 $0.14 4.00% $0.12 Avg Policy Rate $0.10 3.00% Adj EBITDA/Share $0.08 Adj Sh EBITDA/Share 2.00% $0.06 FCFA2S/Share $0.04 1.00% $0.02 $- 0.00% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021 2021 2021 2021 2022 2022 2022 2022 2023 2023 2
Slide 14: Free Cashflow Available to Shareholders
Free Cashflow Available to Shareholders WELL reiterates guidance of ~C$55 million in FCFA2S1 in 2024. 2024 FCFA2S Guidance (C$ in millions) 60.0 ~55.0 50.0 42.4 40.0 30.0 20.0 10.0 0.0 2023A 2024E 1) FCFA2S is defined as Adjusted EBITDA available to Shareholders less cash tax, cash interest and cash
Slide 15: WELL's Focus on Reducing Share Dilution
WELL’s Focus on Reducing Share Dilution WELL Share Dilution Key Drivers of Future Share Dilution 12.0% • 2024 Dilution: 2.7% of the ~3.3% dilution expected in 2024 has already been realized in H1 2024. 10.2% 10.0% • Earnouts Rolling Off: The earnouts from older 8.0% acquisitions are rolling off and
Slide 16: Earnout Payments are Decreasing
Earnout Payments are Decreasing WELL Deferred Acquisition Costs including Time and Performance Based Earnouts1 (C$ million) 70.0 65.2 60.0 50.0 40.0 29.4 30.0 23.5 20.0 13.6 12.5 10.0 1.2 - 2022 2023 2024F 2025F 2026F 2027F 1) Figures do not include any unannounced M&A
Slide 17: Performance Pay Moving Increasingly from Shares to Cash
Performance Pay Moving Increasingly from Shares to Cash Share-based Awards Granted by Year Comments (000s of shares) 7,000 6,547 • Significant Decrease from 2023 to 2024: The number of 6,000 share-based awards granted has significantly decreased from 6,547 in 2023 to 2,397 in 2024 year-to-date (YTD)
Slide 18: Our Focus on Share Dilution Reduction is Working
Our Focus on Share Dilution Reduction is Working Basic Shares Outstanding 2024 Fully Diluted Shares Outstanding 20241 (000s shares) (000s shares) 1) The remaining difference between Mar 31, 2024 and June 30, 2024 is due to equity grants forfeited throughout the quarter. 18
Slide 19: Net Debt to Shareholder EBITDA Ratio is Improving
Net Debt to Shareholder EBITDA Ratio is Improving WELL Leverage Ratios1 4.50x 3.98x 4.00x 3.45x 3.50x 2.97x 3.00x 2.67x 2.50x 2.00x 1.50x Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24F Q4/24F Inc. Convertible Debenture Exc. Convertible Debenture 1) Leverage ratio is defined as net debt
Slide 20: Updates on Different Lines of Business
Updates on Different Lines of Business 20
Slide 21: HEALWELL AI Progress
TSX: AIDX | HEALWELL AI Progress Headquarters: Toronto, ON • AI-enabled clinical decision support is the future of healthcare. • HEALWELL provides leading AI tools and software to healthcare Number of Employees: 390+ providers, with the ab ility to screen an d d etect h u n d red s o f rare, co m p
Slide 22: Contact
° WELL Health TECHNOLOGIES CORP Contact Hamed Shahbazi CEO, Chairman & Founder hamed@well.company Tyler Baba Investor Relations investor@well.company www.well.company 550-375 Water Street Vancouver, BC V6B 5C6 Canada