MedLife S.A.

Earnings Release • Nov 15, 2024

To: BUCHAREST STOCK EXCHANGE FINANCIAL SUPERVISORY AUTHORITY

ANNOUNCEMENT

Report Date: 15 November 2024 Name of the issuing company: MED LIFE S.A. ("MedLife" or "the Company") Registered Office: Bucharest, Calea Grivitei, no. 365, district 1, Romania Telephone / Fax number: 0374 180 470 Unique Registration Code at the National Office of Trade Registry: 8422035 Order number on the Trade Registry: J40/3709/1996 Subscribed and paid-in share capital: 132,870,492 RON Total number of shares: 531,481,968 (out of which 417,042 own shares, without voting rights and 531,064,926 shares with voting rights) Regulated market on which the issued securities are traded: Bucharest Stock Exchange, Premium Category

Publication of the Q3 2024 results report

MedLife, the leader of the private healthcare services market in Romania, continues the sustainable growth of its consolidated pro forma revenue: +24% in the first nine months of 2024 compared to nine months 2023.

• In the first nine months of the year, MedLife recorded a consolidated pro-forma revenue of over two billion RON, an increase of 24% compared to the same period in 2023.

• As these results confirm the upward trend from the first half of the year, MedLife is expected to become, probably, the first company in the private healthcare sector to exceed half a billion EURO in revenue by the end of 2024.

• In the short term, MedLife Group's objectives include the opening of two hospitals in Romania, in Craiova and Timisoara. In the medium term, the company aims to continue its investments at an entrepreneurial pace, focusing on the new major market transactions, as well as on maintaining a profitability and debt policy aligned with investors' expectations.

Bucharest, November 15th, 2024: MedLife, the largest network of private healthcare services in Romania, announces its financial results for the first nine months of the year: a consolidated pro-forma revenue of over two billion RON, a 24% increase compared to the same period of 2023. This confirms the upward trend of the operator registered in the first six months of 2024, increasing the chances that MedLife will become the first company in the private healthcare sector to exceed half a billion EURO in revenue by the end of the current year.

Additionally, the EBITDA margin improved by one percentage point in the first nine months of 2024 compared to the same period last year, with this improvement remaining steady, highlighting the Group's stability.

The results achieved in the first nine months of 2024 attest to the financial and operational performance of the business, which has been consistently strong. Furthermore, MedLife's positive evolution has been driven by strong demand for high-quality medical services, which has remained steady throughout the year.

Registered Office: Bucharest, Calea Grivitei, no. 365, district 1, Romania Unique Registration Code at the National Office of Trade Registry: 8422035 Order number on the Trade Registry: J40/3709/1996 Subscribed and paid-in share capital: 5,536,270.5 RON

"MedLife enjoys strong recognition for the quality of the good doctors in our network nationwide, for our medical technology, and also for the quality of the healthcare act, and throughout 2024, we have reconfirmed that this recognition is well-deserved. This year, we focused on strengthening our presence across the country by acquiring strategic medical units in key regions such as Moldova and Dobrogea. We have invested in expanding our technological and medical capacity – by the end of the year, our network will have the largest number of robotic surgical systems in Romania, and we have laid the groundwork for expanding our expertise in mental health by opening the first two MindCare centers of excellence outside of Bucharest. Moreover, we will end the year with the largest team of certified robotic surgeons in the country. The results from these nine months show that as we raise the bar higher in terms of proximity and quality at all levels, from medical care to technology, the more sought-after we are by doctors, patients, and those who want to benefit from the highest standards in prevention," said Mihai Marcu, President and CEO of MedLife Group.

Growth for all divisions

All business lines of the Group have performed with an upward trend, with most of them registering double-digit growth compared to the same period of 2023. The top position is held by hospitals, with a 33% increase, followed by laboratories (32%), clinics (22%), and the corporate division (19%), illustrating the demand for medical services, particularly in the prevention area, as highlighted by the results from the first six months. Dental services and pharmacies have also benefitted from increases.

Regarding objectives for the near future, MedLife will maintain its prudent approach to mergers and acquisitions, while remaining open to new development opportunities, both domestically and in neighboring countries. Short-term strategic goals include the completion of ongoing projects, such as the expansion of MedLife Medical Park, and the opening of hospitals in Timișoara and Craiova, which are expected to be operational by the end of the year. In the medium term, the company aims to continue its investments at an entrepreneurial pace, both through acquisitions and organic growth, with a focus on the new major transactions in the market, while maintaining a profitability and debt policy aligned with investors' expectations.

Currently, MedLife Group has the largest diagnostic and treatment network in Romania, providing services to over 6.5 million unique patients who have benefited from prevention, wellness, treatment, and hospitalization services.

Analysis of the Consolidated Comprehensive Income

Sales for the 9 months period ended September 30, 2024, amounted to RON 1,978,668,707 higher by 21.6% compared to sales recorded for the 9 months period ended September 30, 2023. This increase was mainly the result of growth in almost all of the Group's business lines, as well as the impact of the acquisitions completed by the Group in 2023 and 2024.

Operating expenses include variable and fixed costs, as well as the cost of goods and materials used to provide the Group's services. The Group recorded operating expenses of RON 1,871,549,924 for the 9 months period ended September 30, 2024, representing an increase of 19.7%, or RON 308,073,938 as compared to the similar period of 2023. The Group's operating expenses as a percentage of total operating income represented 94.3% for the 9 months period ended September 30, 2024 and 95.3% for the 9 months period 2023.

Operating profit recorded an increase of 47% for 9 months 2024 as compared to 9 months 2023, from RON 76,805,764 for 9 months 2023 to RON 112,927,259 for 9 months 2024.

Financial loss increased for 9 months 2024 with RON 13,412,046 from a negative RON 61,636,769 for 9 months 2023 to a negative RON 75,048,815 for 9 months 2024.

The net result for the 9 months period ended 30 September 2024 increased with RON 17,025,018 as compared to the corresponding period of 2023, from RON 3,803,139 for 9 months 2023 to RON Registered Office: Bucharest, Calea Grivitei, no. 365, district 1, Romania Unique Registration Code at the National Office of Trade Registry: 8422035 Order number on the Trade Registry: J40/3709/1996 Subscribed and paid-in share capital: 5,536,270.5 RON

20,828,157 for 9 months 2024.

On a pro-forma basis, gross sales for 9 months 2024 amount to RON 2,023,615,051 and Adjusted EBITDA to RON 304,087,082.

Analysis of the Consolidated Balance Sheet

Non-current assets amount to RON 2,275,513,231 as of 30 September 2024, recording an increase of RON 172,684,411 or 8.2% as compared to 31 December 2023. Increase mainly due to increase in Property, Plant and Equipment with RON 99.4m.

Current assets increased with RON 140,971,620 or by 26.4% from RON 533,508,611 as at 31 December 2023 to RON 674,480,231 as at 30 September 2024.

Current liabilities (excluding interest-bearing debt items) increased with RON 169,386,415, or by 34.7%, from RON 487,952,032 as at 31 December 2023, to RON 657,338,447 as at 30 September 2024.

Interest bearing debt increased with RON 127,705,995 or by 8.2% from RON 1,561,520,588 as of 31 December 2023 to RON 1,689,226,583 as of 30 September 2024.

Business line	Info	9 months
		2024	2023
Clinics	Revenue	743,442,545	608,211,330
Clinics	Visits	3,188,539	2,837,293
Clinics	Avg fee	233	214.4
Stomatology	Revenue	95,033,275	92,506,777
Stomatology	Visits	142,476	138,157
Stomatology	Avg fee	667	669.6
Hospitals	Revenue	468,675,295	353,143,067
Hospitals	Patients	117,878	102,962
Hospitals	Avg fee	3,976	3,429.8
Laboratories	Revenue	225,891,790	171,739,754
Laboratories	Analyses	6,613,519	5,463,886
Laboratories	Avg fee	34	31.4
Corporate	Revenue	220,755,936	189,373,911
Corporate	Subscriptions	860,477	867,342
Corporate	Avg fee	257	218.3
Pharmacies	Revenue	50,395,133	46,287,876
Pharmacies	Clients	344,051	346,530
Pharmacies	Sales per client	147	133.6
Others	Revenue	174,474,733	166,153,060

Operational Key Performance Indicators

Report availability

The Q3 2024 results report is available on the company's website, in the Investor Relations section / Reports and Presentations / Financial Reports (https://www.medlife.ro/investor-relations/reports-andpresentations/financial-reports) and on the Bucharest Stock Exchange's website (symbol M).

ED LIFE S.A.

Registered Office: Bucharest, Calea Grivitei, no. 365, district 1, Romania Unique Registration Code at the National Office of Trade Registry: 8422035 Order number on the Trade Registry: J40/3709/1996 Subscribed and paid-in share capital: 5,536,270.5 RON

Results presentation conference call

We remind you that MedLife will hold a conference call for analysts and investors to present the financial results, on 15 November 2024, starting 4:00 p.m. (Romanian time). The conference call will be held in English, and the related presentation and transcript will be available afterwards, on MedLife's website, in Investor Relations section / Reports and Presentations / Financial Reports. In order to participate to the event, please contact us at investors@medlife.ro.

Mihail Marcu Chief Executive Officer

______________