CareRx Q1-24 Earnings Call – May 10, 2024 at 8:30 am ET | Earnings Call Slides

Q1 2024

Earnings

Call

May 10, 2024

Cautionary Statements

Forward Looking Statements

Certain of the statements contained in this presentation are "forward looking information within the meaning of applicable Canadian securities legislation. Forward looking information includes, but is not limited to, business strategy, plans and other expectations, beliefs, goals, objectives, information and statements about possible future events. Forward looking information generally can be identified by the use of forward looking terminology such as "outlook ", "objective", "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "should", "plans" or "continue", or similar expressions suggesting future outcomes or events. You are cautioned not to place undue reliance on such forward-looking information. Forward looking information is based on current expectations, estimates and assumptions that involve a number of risks that are set out under the heading "Risks and Uncertainties" in CareRx's most recently filed Management's Discussion and Analysis available on SEDAR+ at www.sedarplus.ca, which could cause actual results to vary and in some instances to differ materially from those anticipated by CareRx and described in the forward looking information contained in this presentation. No assurance can be given that any of the events anticipated by the forward looking information will transpire or occur or, if any of them do so, what benefits CareRx will derive therefrom and neither CareRx nor any other person assumes responsibility for the accuracy and completeness of any forward looking information. Other than as specifically required by applicable laws, CareRx assumes no obligation and expressly disclaims any obligation to update or alter the forward-looking information whether as a result of new information, future events or otherwise.

Non-IFRS Financial Measures and Non-IFRS Ratios

"EBITDA", "Adjusted EBITDA", "Adjusted EBITDA Margin" and "Adjusted EBITDA per share" are non-IFRS measures and "Net Debt to Adjusted EBITDA" is a non-IFRS ratio all of which do not have standardized meanings prescribed by IFRS. See "Non-IFRS Financial Measures" , "Non-IFRS Ratios" and "Reconciliation of Non-IFRS Financial Measures" in CareRx's most recently filed Management's Discussion and Analysis available on SEDAR+ at www.sedarplus.ca.

All dollar figures are in Canadian dollars unless otherwise stated.

2

Puneet Khanna

President & Chief Executive Officer

3

Q1 2024

• Revenue in Q1 2024 of $89.7 million
• Adjusted EBITDA in Q1 2024 of $7.4 million
• Previously scheduled LTC pharmacy funding change paused for a further year
• Entered into Automatic Share Purchase Plan under NCIB

4

Andrew Mok

Chief Financial Officer

5

Q1 2024 Financial Results | Revenue

		(millions)
110
100	$91.4	$91.1	$89.7
90
80
70
60
50
40
30
20
10
0
6	Q1 2023	Q4 2023	Q1 2024

• Average beds serviced of 90,913: -3.7% vs Q1 2023
• Year-over-yearand quarter-over-quarter revenue decline primarily driven by a modest net reduction in average number of beds serviced

Q1 2024 Financial Results | Adjusted EBITDA

		(millions)
10
9		$7.5	$7.4
8	$6.8
7
6
5
4
3
2
1
0
	Q1 2023	Q4 2023	Q1 2024

• Year-over-yearAdjusted EBITDA increase primarily the result of efficiencies and cost savings initiatives that commenced during the second half of 2023
• Adjusted EBITDA margin increased to 8.3% or 80 basis points year-over-year and 10 basis points quarter-over-quarter

7

Q1 2024 Financial Results | Net Income

(millions)

Q1 2023

Q4 2023

Q1 2024

5

4

3
2
1
0
-1	-$0.5
-2
-$2.1
-3
-4	-$3.7
-5

• Year-over-yearand quarter-over-quarter decline in net loss driven primarily by decreases in finance costs and the impact of cost savings initiatives that commenced during the second half of 2023
• Decline partially offset by the impact of a reduction in the average number of beds serviced

8

Balance Sheet

(millions except ratio)

At Mar 31/24

Cash	$11.4 M
Net Debt1	$48.8 M
Net Debt to Adjusted EBITDA2	1.6x

9 1. Debt = borrowings (principal) not including November 2019 Convertible Debentures.

2. Annual run-rate based on Q1/24 Adjusted EBITDA.

• Quarter-over-quarterincrease in cash balance and decline in net debt due to increase in cash flows from operations and a reduction in outflows related to interest and capex

Puneet Khanna

President & Chief Executive Officer

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