INVENTURUS KNOWLEDGE SOLUTIONS LIMITED — Investor Presentation 2026

Apr 23, 2026

IKS HEALTH

April 23, 2026

BSE Limited
The Listing Department
Phiroze Jeejeebhoy Towers
25th Floor, Dalal Street
Fort, Mumbai 400 001
Maharashtra, India

BSE Scrip Code: 544309

National Stock Exchange of India Limited
The Listing Department
Exchange Plaza, Plot No. C/1, G Block,
Bandra Kurla Complex
Bandra (East), Mumbai 400051
Maharashtra, India

BSE Scrip Code: IKS

Dear Sir/Ma’am,

Sub: Conference Call Presentation – IKS Health Announces Agreement to Acquire TruBridge.

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find attached herewith Conference Call Presentation – IKS Health Announces Agreement to Acquire TruBridge.

The said presentation is also being uploaded on the website of the Company at the https://ikshealth.com/investor-relations/

Request you to take it on record and disseminate it on your website.

Thanking you.

Yours sincerely,

For Inventurus Knowledge Solutions Limited

Sameer S Chavan
Digitally signed by
Sameer S Chavan
Date: 2026.04.23
19:07:03 +05'30'

Sameer Chavan
Company Secretary and Compliance Officer
Membership No. F7211

Encl: As above

M/s. Inventurus Knowledge Solutions Limited
801, Building No. 5 & 6, 8th Floor, Mindspace Business Park (SEZ), Thane - Belapur Road, Airoli, Navi Mumbai - 400 708, Thane, Maharashtra, India. | Board: +91 22 3071 1100 | Fax: 91 22 6646 6879 | info@ikshealth.in | www.ikshealth.com
Registered Address: 801, Building No. 5 & 6, 8th Floor, Mindspace Business Park (SEZ), Thane - Belapur Road, Airoli, Navi Mumbai - 400 708, Thane, Maharashtra, India. CIN: L72200MH2006PLC337651

---

KLIKS HEALTH

Strategic acquisition of TruBridge, Inc.

April 23, 2026

---

Disclaimer

This presentation may include opinions and assumptions about future performance which could be considered as forward-looking statements. Forward-looking statements intrinsically cover several risks and uncertainties, which may lead to a material difference between actual results and the statements themselves. Such statements comprise the company's current visibility on market movements, client discussions, and related factors. Inventurus Knowledge Solutions Limited does not assume an obligation to update or revise any forward-looking statements.

LKS

---

Agenda

1. Strategic rationale
2. Transaction overview
3. Market overview & TruBridge positioning
4. Value creation

LKS

---

AI is the engine, but who will get you home safely?

Systems of Record vs. Systems of Action

SLS

---

System of Action + System of Record → Operating System for Healthcare

Closed loop operating model

System of Record (EHR)

• Synthesizes data from all points of care
• Authoritative source of clinical truth
• Proprietary, longitudinal, structured clinical data

Data feed & capabilities needed from EHR

Critical needs for agentic AI orchestration

• Trusted, structured data source
• Data source
• Proprietary AI training corpus
• Native backbone for workflows
• Deep clinical context

Actions / Outcomes feedback

System of Action

(Agentic AI powered Care Enablement Platform)

• Ingests, aggregates, normalizes, analyzes
• Converts data into actions, decisions, and revenue
• Orchestrates agentic AI workflows

Value created

Directly linking the System of Record and System of Action enables:

Elimination of middleware

• Reduced friction
• Lower latency

Single source of truth

• Automated data hygiene
• Reduction in errors

Seamless workflow integration

• Reduced Human involvement

AI optimization through continuous learning

Business implications

• Compounding value creation
• Multi-stream, deeply embedded recurring revenue stream
• Outcome/ Value-based contracts
• Long term structural advantage

LKS

---

From System of Record to System of Intelligence

Embedding real-time clinical, financial, and access decisioning directly into core workflows

	Today	Future	Impact
Clinical co-pilot	Ambient AI passively generates notes after the encounter, which clinicians review and sign within the EHR	IKS Scribble is embedded in the live encounter, surfacing diagnoses, care gaps, orders, and documentation needs in real time.	The system shifts from post-visit documentation to active clinical co-pilot and intelligent order orchestration
Revenue Integrity	Claims are generated after encounters and denied weeks later, triggering costly back-office rework and appeals	Denial risk is significantly reduced upfront through EHR-embedded IKS denial prediction engine for real-time checks at documentation, and charge capture	Denial management shifts from a downstream RCM function to a built-in prevention system embedded in clinical workflows
Digital front door	Patient messages are handled manually through back-and-forth messaging, leading to delays, inconsistency, and inefficient triage	Incoming messages trigger adaptive intake, AI triage, and real-time routing based on clinical risk, patient history, and capacity.	The inbox becomes a clinically intelligent front door that dynamically orchestrates the right level of care and access path.

IJKS IJKS OXFORD

---

Repositioning for a post-UI world

System of record + action as the defensible layer in healthcare IT

The shift

The UI layer is no longer the differentiator

1. AI agents and automation abstract away the UI layer
2. Any interface can initiate workflows across systems
3. Front-end experiences become interchangeable

The value

From UI to Control Plane

Layer
- UI
- APIs / Access

System of record + action execution

What happens
- Interchangeable, replacement
- Necessary, but not sufficient

Owns data, workflows, execution

Agents may make the UI layer redundant, but the system that owns data, workflows, and execution drives the economics

• IKS native agents embedded in workflows become the default execution layer

• Monetization shifts from users / seats to outcomes delivered

• Closed-Loop intelligence compounds advantage: creating a self-reinforcing system moot in the workflows

• All clinical, financial and operational data resides in your systems; providing more context-aware system of action

IJKS

---

Benefits of an integrated model - a structural moat

Un-siloed real-time data

• No lag compared to API-connected systems
• Complete clinical context available in real-time, including orders, labs, meds, notes, history

No context switching

• Clinician stays within one EHR
• No handoffs across multiple systems
• All workflows executed in one interface

Closed-loop, continuous learning

• Every outcome is captured, including denial, approval, code accepted, quality
• Written back as labeled training data
• AI accuracy improves with every encounter

Cross-network intelligence

• Cross-client AI
• A local change in payer behavior updates every client model simultaneously
• Cross-client training corpus

Ecosystem advantages

• Customers make a deliberate, long-term investment when choosing an EHR
• EHR and clinical layer alignment creates deep integration into hospital workflows
• Priority is placed on risk mitigation, data fidelity and clinical stability

IJKS

---

Agenda

1. Strategic rationale
2. Transaction overview
3. Market overview & TruBridge positioning
4. Value creation

LKS

---

IKS proposes to acquire 100% of TruBridge Inc. and take the entity private

IKS

10

Transaction details

• IKS Inc to acquire 100% and delist TruBridge Inc (US listed)
• Initial funding through approx $600M of debt secured for a 5 year term.**
• Initial interest cost is $OFR+275 bps sliding down to 175bps as leverage scales down.
• Leverage expected at +3X EBITDA of combined entity.

*Enterprise value is calculated based on Net debt position as at 31st March 2026.

**Actual drawdown will depend on the consolidated net debt position as on the date of closing.

---

TruBridge is a fully integrated RCM and EHR vendor serving mid-small hospitals

IKS SYSTEMS

Sources: Bloomberg

---

The deal is expected to be PAT and EPS accretive in FY27

Proforma adj. EBITDA at 26%

Proforma financials
Jan-Dec 2025
Amt in USD mn

	IKS	Trubridge	Consol
Revenue	351	347	698
EBITDA	117	43	159
Adjusted EBITDA	117	69	186

Trubridge adjusted EBITDA excludes:

ESOP cost $9.4 mio, which will discontinue as all outstanding options will convert to shares and be paid off.

Certain non-recurring expenses, mainly related to one-time consulting costs and public company cost that would be discontinued at closing.

Incremental EBITDA adequate to cover interest and amortization

EBITDA	69
Interest cost on Acquisition	(36)
Depreciation & Amortisation - Recurring	(14)
Amortisation of Acquisition Intangible assets**	(12)
PBT	7
Tax	2
PAT	5

This does not include synergies to be obtained in in first year

**Amortisation of acquisition intangible assets is an estimate and remains subject to detailed review by valuation expert.

IKS
12

---

Agenda

1. Strategic rationale
2. Transaction overview
3. Market overview & TruBridge positioning
4. Value creation

LKS
13

---

RCM service provider market is exceedingly fragmented, presenting opportunities

<20%

Top 5 market share

Low market concentration. Even the largest leaders combined hold a minority of the total addressable market. Top company in the space is R1 RCM with $2B of revenue.

400+

Standalone players

The U.S. RCM market is exceedingly fragmented, populated by hundreds of small, sub-scale regional billing companies.

~65%

"Long tail" share

The majority of the market is serviced by vendors lacking proprietary technology or scale.

LKS

Sources: Mordor Intelligence - US RCM Market Analysis; Becker's Hospital Review 2023.

---

Rural Hospital RCM

Market Overview and TruBridge Positioning

15

Services: EY Report

---

TruBridge has differentiated technology across RCM lifecycle

16

Front

Schedule appt in EMR

Patient liability estimates / eligibility verification

Patient encounter

Get Real Health (Acquired 2020)

Technology

Patient liability estimates leveraging in-house data

Eligibility verification with all patient accounting systems

Services

Liability estimates and eligibility verification

60% Decrease in no-shows

Middle

Health information management

CLIAM scrubbing & submission

Cladn validation & submission

TruCode (Acquired 2021)

Cloud-based encoder With embedded logic

Single path coding with Correct Coding initiative and Medically-Unlikely Edits

Over 6 million built-in rules and edits

Directintegration with Medicare Data Entry System

Outsourced coding services

95% Coding accuracy

Claim scrubbing and submissions incl Clearing House

97% First-pass clean claims

Back

Insurance payments

Denial management

Payment validation

Contract management

Statements

Patient model

Patient payment

Automatically generated appeals letters

Contract modeling to anticipate future reimbursements

Automated early out services through platform and phone

Payment resolution

13pp Decrease in denied first claims

Contract management

24% Avg. reduction in AR days

Patient portal and early out

13% Avg. increased cash collection

Remittance retrieval & management

Payment resolution

Contract management

LKS

HRC

Viewgo! (Acquired 2022)

(Acquired 2023)

---

EHR Market Overview and TruBridge Positioning

Total Spend

of Facilities

TruBridge is a significant player in the rural hospital EHR market

Presence in <50 bed Rural Hospitals
Present in 25-30% of all rural hospitals

High retention, recurring Revenue
Deliberate, long-term investment

Mature Market
Organic growth rate
Expansion Opportunity to <200 bed hospitals

I.K.S.

Sources: EY Report

---

TruBridge has a robust suite of proprietary tech across EHR capabilities

	RCM Stack	Encoder	EHR	Clinical Documentation	Patient Engagement
Capabilities	Seamless integration with EHR data	Building internal AI tools for general and specialty coding	Real-time dashboard and reporting for clinicians	Captures clinician-patient conversations for automated clinical documentation	Connects various clinical sources for unified patient portal
	API-driven modules for RCM functions throughout claim cycle	Industry leading implementation	Cloud hosted SaaS platform	Fully integrates with EHR offering	Self-scheduling tool with mobile options
Key competitors	Med-Metrix
CorroHealth	3M
Optum	MEDITECH
Oracle Health	DAX
Augmedix	Phreesia
Revenue model	Take-Rate	Desktop / SaaS license	Annual license for support clients, SaaS license for SaaS clients	Monthly subscription	SaaS license

IJKS

---

19

TruCode Encoder

A differentiated product with a $650M market opportunity

TruCode functionality and features

• ☑ Encoder software
  Assists medical coders to choose correct codes to prepresent patient diagnoses and procedures to ensure optimal reimbursement

• ☑ Knowledge-based
  Built-in logic for code sets

• ☑ Enhanced productivity
  Search and Auto-suggest features

• ☑ Adapts to coder's way of working
  Flexible sequencing of terms

• ☑ Audit-proof confidence
  Higher confidence in code quality through logic trees, supported by underlying resources

• ☑ Multi-modal deployment
  Stadalone / Client-server; CAC / CDI-integrated and EHR-integrated

Additional features:

Codes for secondary functions	Access to reference materials	Auditing edits

TruCode differentiators

• ☑ Improved accuracy
  Context-based resources ensure complete and proper code assignment

• ☑ Seamless cloud-based deployment
  Always up-to-date clinical content for precise coding

• ☑ Single path coding
  Increase efficiency by coding facility and professional services together in one workflow.

• ☑ Maximized efficiency
  Embedded APIs and workflow integration reduce errors and speed up claims.

• ☑ Proven results
  Customers report fewer denials and improved clean claim rates

Key Players

• 3M Codefinder
• Optum 360 EncoderPro
• Nuance Clingarity
• TruCode by TruBridge
• Cerner Millenium

---

Agenda

1. Strategic rationale
2. Transaction overview
3. Market overview & TruBridge positioning
4. Value creation

LKS
20

---

Better together

Highly complementary capabilities

IKS REALTH

TruBridge

	Ambulatory care, physician groups, mid-sized hospitals		Customer Segments	Small to mid sized & rural hospitals (<400 Beds)
	Ambulatory Revenue Cycle Management, Clinical Solutions & VBC		Service Offerings	Acute Revenue Cycle Management & Electronic Health Records
	Care Enablement Platform (System of Action)		Product & Technology Suite	SaaS EHR (System of Record), Acute RCM, Encoder, RCM Intelligence/ Analytics
	Global delivery		Delivery Model	Strong local presence

IKS

---

Value creation: Opportunity

Value Protection

Diversification into SaaS EHR business
- Loyal customers
- Embedded, recurring revenue stream
- High retention

Resilience against tech-led disruption
- Integrated solution across EHR+Tech+Services with bundled pricing

AI-First Strategy

Specialized AI model for healthcare
- Care enablement platform (System of Action)+ EHR (System of Record) + Data
- Customized SLM delivering efficiency, privacy, low cost

Proprietary tech
- Acute RCM, Encoder, RCM analytics
- Eve, Optimix, Scribble, Stacks

Growth Opportunity

Larger addressable market
- Across Physician provider & Rural & community hospitals
- 2000+ clients & 150,000+ clinicians

Revenue acceleration
- $575 M+ Cross sell white space in TruBridge client base for Care enablement Platform
- Integrated & bundled services
- $ 650 M+ Market potential for TruCode

Scalable, efficient operating platform

High value talent pool
- 17,000+ people
- 2000+ clinically trained staff
- 800+ technologists

Cost synergy
- G&A optimization
- Delivery transformation leveraging AI and global delivery

LKS

---

Value creation: Opportunity

IKS Health Vision FY 2030

€ Crores	LTM December 2025	FY 30
EBITDA	≈ 1000	≈ 3000
Net Debt	≈ 300	Similar to Dec 2025

IKS

---

A Decade of Consistent Profitable Growth

SINR

IKS

---

Acquisition track record - AQuity

Achieved 30%+ combined EBITDA from a pro forma EBITDA of 24% within 4 quarters

Successfully integrated all functions within three quarters

Penetrated hospital settings by leveraging and building on AQuity's capabilities

Executed multiple cross-sell deals including a recent full platform deal in Q4, FY 26

IKS

---

Next steps

Definitive agreement signing

TODAY

Pre-close phase ~90-120 days

• BAU: IKS Health and TruBridge operate as independent companies
• Focus on respective FY objectives
• Obtain regulatory and shareholder approvals

Transaction close

Q2 FY 27 (expected)

Integration phase

• Governance & leadership
• Organization structure
• Operating / delivery model
• Unified brand & messaging
• Go-to-Market
• Commercial activation

Integration

4 - 5 Quarters Post Closing

IKS

---

Thank you

LKS
27