Slides
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INVESTOR PRESENTATION 30 July 2026 | Riyadh, KSA
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Performance Highlights and Strategy
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3Care Medical Investor Presentation – 30/07/2026 Operating and Financial Performance Highlights Record 2Q 2026 revenues and net profit, driven by higher patient volumes and recovering GOSI activity, supporting 1H 2026 revenue growth 299 297 326 373 385 398 412 405 388 456 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 2Q 2026 +15% year-on-year +22% year-on-year 81 60 84 85 80 82 71 52 94 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Revenue Net Profit 1 Outpatient visits 2 Inpatient admissions 3 Total average length of stay for inpatients at the company's facilities, excluding Al Balad branch 2Q 2026 +18% year-on-year Total Number of Beds 1,189 30 June 2026 Inpatients2 1H 2026 16.5 thousand Total patients 1H 2026 530.8 thousand +15% year-on-year +17% year-on-year Average length of stay3 1H 2026 8.9 (10%) year-on-year Outpatients1 1H 2026 514.3 thousand +15% year-on-year Bed Occupancy Rate 1H 2026 82.8% 2Q 2026 EBITDA 89 89 117 123 111 117 115 92 135 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 1H 2026: SAR 844mn +8% YoY 1H26: SAR 226mn, (3%) YoY 1H26: SAR 146mn, (11%) YoY
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4Care Medical Investor Presentation – 30/07/2026 Optimizing Capacity Utilization and Driving Throughput Efficiency Leveraging Available Capacity in Existing Facilities 86% Malaz Branch Occupancy In 1H 2026 Rawabi Branch 82% Occupancy In 1H 2026 Al Salam Branch 79% Occupancy In 1H 2026 Total Available Beds (1H 2026) 1,189 Bed Occupancy Rate (1H 2026) 83% Improving Throughput Through ALOS Optimization ▪ Trend: Steady Improvement in recent quarters ▪ Strategy: Care aims to reduce ALOS further to enhance throughput and operational efficiency ▪ Growth impact: Shorter stays increase the number of available bed-days, enabling more admissions within existing capacity Average Length of Stay Trend (Days per stay) 9.6 9.6 8.5 9.1 8.7 2Q25 3Q25 4Q25 1Q26 2Q26 Optimizing capacity utilization and throughput to accommodate volume growth without significant near-term capital investment Avg Length of Stay (1H 2026) 8.9
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5Care Medical Investor Presentation – 30/07/2026 Operational Enhancements – FY2026 Focus Strengthening Care’s market position in KSA’s dynamic healthcare market through capacity optimization, operational excellence, and service innovation Capacity Expansion ▪ Recent additions showing high- growth potential (Al Salam, Al Balad, and Al Haram facilities) ▪ Upcoming Riyadh Narjis Hospital (2028 opening), which will further expand capacity ▪ Al Salam expansion: Addition of 20 new beds Service-Line Expansion ▪ New service lines driving revenue growth and market positioning ▪ Installation of Cath Lab at Jiwar, expanding high-value cardiology services Payor & Revenue Mix Optimization ▪ Expanding volumes through strengthening relationship with GOSI ▪ Negotiating improved pricing with insurance companies to enhance margins ▪ Strategic focus on high-value segments Technology & Cost Efficiency ▪ Digital transformation rollout including ERP, HIS, and RC modules ▪ AI integration enhancing operational efficiency, clinical workflows, and patient experience ▪ Advanced analytics optimizing resource allocation and clinical outcomes Care Academy & Talent Development ▪ Strategic partnership with Imam University to expand Care Academy ▪ Building a sustainable pipeline of clinical talent to support growth ▪ Enhancing training, education, and clinical standards across the network
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Operating and Financial Performance 1H 2026
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7Care Medical Investor Presentation – 30/07/2026 Operational Trends Strong 1H 2026 volume growth, with patient activity accelerating in the second quarter as GOSI referrals recovered and complex procedures resumed, reflecting sustained demand across the network 2Q2026 2Q2025 YoY, % 1H2026 1H2025 YoY, % Inpatient Admissions 8,660 7,386 +17% 16,526 14,168 +17% Outpatient Visits 270,960 225,676 +20% 514,318 446,116 +15% Total Patients 279,620 233,062 +20% 530,844 460,284 +15% Inpatient Days 90,635 86,533 +5% 177,895 171,823 +4% Bed Capacity 1,189 1,128 +5% 1,189 1,128 +5% Bed Occupancy Rate (%) 84% 84% -0.3 ppts 83% 84% -1.5 ppts ALOS, Total (days)* 8.7 9.7 -10% 8.9 10.0 -10% Number of surgeries 7,570 6,075 +25% 13,695 12,000 +14% * “ALOS, Total” represents the total average length of stay for inpatients at all facilities, excluding Al Balad branch 6,075 6,632 6,108 6,125 7,570 2Q25 3Q25 4Q25 1Q26 2Q26 7,386 7,735 8,850 7,866 8,660 2Q25 3Q25 4Q25 1Q26 2Q26+5% +14% -11% +10% +9% -8% +0.3% +24% Operational Highlights +25% Inpatients Admissions Quarterly Trend (Admissions) Outpatient Visits Quarterly Trend(Outpatient visits) 225,676 242,774 265,428 243,358 270,960 2Q25 3Q25 4Q25 1Q26 2Q26 +20% +8% +9% -8% +11% Surgeries Quarterly Trend (Surgeries) +17%
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8Care Medical Investor Presentation – 30/07/2026 Income Statement 1H 2026 profitability reflected the temporary seasonal pressures witnessed at the start of the year, while a strong rebound in 2Q 2026 drove margin improvement and record quarterly net profit SAR mn 2Q2026 2Q2025 YoY, % 1H2026 1H2025 YoY, % Revenue 456 398 +15% 844 783 +8% Cost of revenue (287) (250) +15% (553) (493) +12% Gross profit 169 147 +15% 292 290 +0.4% Operating expenses (62) (63) -0.3% (122) (108) +13% Operating profit 107 85 +26% 170 182 -7% EBITDA 135 111 +22% 226 233 -3% Net profit 94 80 +18% 146 165 -11% Gross profit margin 37.1% 37.1% 0.0 ppts 34.6% 37.1% -2.5 ppts EBITDA margin 29.5% 27.8% +1.7 ppts 26.8% 29.8% -3.0 ppts Net profit margin 20.6% 20.1% +0.5 ppts 17.3% 21.1% -3.8 ppts 165 (60) (14) (6) 146 61 Net profit for the period 1H25 Revenues Cost of revenues Operating expenses Other Net profit for the period 1H26 -11% +38%+13%+12%+8% Quarterly Margin Trends (%) 37.1% 37.1% 27.8% 29.5% 20.1% 20.6% 2Q25 3Q25 4Q25 1Q26 2Q26 Gross Profit Margin EBITDA Margin Net Profit Margin Income Statement Highlights Net Profit Development (SAR MN)
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9Care Medical Investor Presentation – 30/07/2026 Revenue Trends Solid first-half revenue performance lifted by a strong rebound in GOSI revenue to a record SAR 188 million in 2Q 2026, alongside higher contributions across the Group’s hospitals Sustained GOSI Revenue Growth Despite Cyclical Referral Activity 43.3% 39.8% 7.6% 6.4% 2.0% 0.9% Rawabi branch Malaz branch Al Salam branch AlBalad branch AlHaram branch ReLib 844 SAR MN 783 (8) 24 41 7 (2) 844 Total revenue 1H25 MoH & Govt Insurance Cash Other Total Revenue 1H26 +14%+23%+8%-3% GOSI -18% +8% 1.1% 6.9% 26.2% 28.1% 37.8% Other Cash Insurance MoH & Govt GOSI Revenue Development (SAR MN) Revenue by Business Unit (1H 2026) (%) Revenue by Payer (1H 2026) (%) 134 135 142 185 201 215 213 278 295 289 319 1H21 2H21 1H22 2H22 1H23 2H23 1H24 2H24 1H25 2H25 1H26 Half-Year GOSI Revenue (SAR mn) 5-year CAGR: 19%
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10Care Medical Investor Presentation – 30/07/2026 Total Expenses Breakdown (1H 2026) Costs Overview Higher 1H 2026 costs reflected continued investment in medical talent and increased activity-related spending, while cost trendsimproved significantly in 2Q 2026 as top-line growth outpaced cost growth, supporting margin recovery across all profitability levels. 81.9% 18.1% Cost of revenues Operating expenses Cost of Revenues Breakdown (1H 2026) (%) Cost of Revenues Development (SAR MN) 12% 1H 2026 YoY 7.4% 1.4% 1.6% 28.0% 61.6% Other Rent & utilities Repairs & maintenance Medicines & consumables Salaries & benefits 108 2 11 0 122 Operating expenses 1H25 General & administrative expenses Provisions and other Operating expenses 1H26 +12%+30% Selling & marketing expenses +6% +13% 493 36 20 (0) (0) 4 553 Total cost of revenue 1H25 Repairs & maintenance Other Total cost of revenues 1H26 -1%+12% Salaries & benefits -1% Medicines & consumables +15% Rent & Utilities +11% +12% 675 SAR MN Operating Expenses Development (SAR MN)
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11Care Medical Investor Presentation – 30/07/2026 (23) 52 (15) 225 556 2Q25 3Q25 4Q25 1Q26 2Q26 Balance Sheet Highlights Balance sheet growth reflected continued investment in Al Narjis, while higher receivables, in line with increased billings following the recovery in GOSI activity, along with related borrowings, drove the increase in net debt. 1 Based on YTD indicators. DPO, DSO, and DIO are calculated based on Care methodology. 2 Including time deposits. N/A N/A N/A +147% Cash Conversion Cycle1 Trend (Days) 145 162 158 199 202 (96) (95) (95) (82) (78) 75 75 71 77 73 2Q25 3Q25 4Q25 1Q26 2Q26 Sales Payables Inventories 124 142 134 194 197 +59% Net Debt Trend2 (SAR MN) Balance Sheet Highlights SAR mn 2Q2026 4Q2025 YtD, % Total Non-Current Assets 1,553 1,291 +20% Total Current Assets 1,479 1,480 -0.1% Total Assets 3,032 2,771 +9% Total Shareholders' Equity 1,863 1,849 +1% Total Non-Current Liabilities 874 577 +51% Total Current Liabilities 295 344 -14% Total Liabilities 1,169 922 +27% Cash, equivalents & time deposits 243 531 -54% Net Debt2 556 (15) N/a +47% YtD
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12Care Medical Investor Presentation – 30/07/2026 1,187 54 26 149 49 1,465 Receivables Management Trade receivables increased in 1H 2026 as stronger GOSI activity drove higher billings, with collections expected to materialize in the coming quarters. 1 Based on Gross Trade Receivables, excluding any deductions for provisions held against them 2.0% 2.7% 31.0% 31.9% 32.5% Cash Other GOSI Insurance MoH & Govt 1,187 149 87 55 (5) (7) 1,465 +23% Trade receivables 4Q25 GOSI Insurance Cash Other Trade receivables 2Q26 MoH & Govt +7%+16%+14% -15% -14% Trade Receivables1 Developments (SAR MN) Trade Receivables1 Structure (end of 1H 2026) (SAR MN) Trade Receivables1 Aging (end of 1H 2026) (SAR MN) +23% Trade receivables 4Q25 Up to 3 months 3 to 6 months 6 to 12 months Over 1 year Trade receivables 2Q26 +59%+13%+12% +17%
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13Care Medical Investor Presentation – 30/07/2026 Cash Flow Highlights Lower operating cash flow primarily reflects higher working capital outflows associated with receivables and inventory levels 1 Zakat, finance income (net), and end-of-service benefits. (19) 18 (185) (15) (120) 80 Net cash, operations 1H25 Net profit Working capital Zakat & benefits Net cash, operations 1H26Non-cash adj. N/A 41 212 240 275 131 48 156 FY21 FY22 FY23 FY24 FY25 1H25 1H26 94 217 467 245 154 80 (120) FY21 FY22 FY23 FY24 FY25 1H25 1H26 Cash Flow Highlights SAR mn 2Q2026 2Q2025 YoY, % 1H2026 1H2025 YoY, % Net Profit before zakat 101 83 +21% 160 178 -10% Non-cash adjustments 45 44 +2% 93 75 +24% Working capital changes (201) (179) +13% (330) (145) +127% Zakat, fin. income, empl. benefits1 (36) (25) +43% (42) (27) +56% Net cash, operations (92) (77) +19% (120) 80 NA Capex (104) (25) +311% (156) (48) +225% Net cash, investing activities (104) 50 NA (105) 255 NA Net cash, financing activities (66) (98) -32% (12) (122) -91% Net changes in cash (262) (125) +110% (237) 213 NA Cash Flow From Operations Development (SAR MN) Capex Trend (SAR MN) Cash Flow From Operations Trend (SAR MN)
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Strategy Refresh Overview 1H 2026
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15Care Medical Investor Presentation – 30/07/2026 Strategic Pillars and Enablers of Future GrowthOrganic Expansion & Greenfield Development Flagship Development – Al Narjis Hospital • Construction on track, with Phase 1 operations scheduled for 1Q 2028 • Located in a high-growth Riyadh corridor, Premium segment focus • Phased capacity rollout in line with demand trends Strategic Expansion - Scaling Capacity and Driving Shareholder Value Care Medical’s disciplined expansion strategy targets value-accretive opportunities aligned with long-term returns. Recent acquisitions demonstrate the Group’s execution capabilities, with Al Narjis driving the next phase of growth Jeddah Greenfield — Western Province Growth • Class B hospital — phased rollout: 150 beds initially • +100 additional beds as utilization ramps • Strengthens dual-core (Riyadh + Western Province) expansion strategy Initial Capacity 150 Phase 2 Capacity +100 Class B Segment Focus Disciplined M&A Strategy • Digital transformation of workflows to optimize staffing, scheduling, and resource allocation, rollout of ERP, HIS, and RC modules • Data-driven decision-making to enhance productivity and efficiency • AI-powered diagnostics and clinical support improving patient outcomes and care pathways Initial Capacity 200 Phase 2 Capacity +200 SAR 1.4bn Total CAPEX Clinical Network Expansion • First clinic targeted to open in 2027 • Rollout of 4 new clinics by 2032 Digital Transformation Strategy • Actively evaluating attractive acquisition opportunities • Focus on complementary specialties and high-potential geographies • Accelerate scale, diversify service offerings and enhance market position
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Q&A Session
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Appendix
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18Care Medical Investor Presentation – 30/07/2026 Operating Performance Overview1 (1/2) 1 FY20-23 data covers Rawabi and Malaz branches. FY24 and FY25 include Rawabi, Malaz, Al Balad, Al Salah, Haram, and ReLib. For Al Salam only operating indicators from the acquisition date are included. As an emergency facility, Haram records only outpatient visits, excluding inpatient admissions and surgeries. 2 “Other” includes Al Balad, Al Salam, Haram, and ReLib. 19 21 21 22 31 FY21 FY22 FY23 FY24 FY25 +14% CAGR + 14% +1% +4% +39% 513 617 630 720 954 FY21 FY22 FY23 FY24 FY25 +17% CAGR +20% +2% +14% +32% Inpatients Admissions Trend (Thousand admissions) Outpatient Visits Trend (Thousand outpatient visits) Total Patients Trend (Thousand patients) Surgeries Trend (Thousand surgeries) 16 19 19 20 25 FY21 FY22 FY23 FY24 FY25 +12% CAGR + 19% + 1% + 7% +23% 339 385 398 427 479 193 254 253 261 299 46 207 FY21 FY22 FY23 FY24 FY25 Rawabi branch Malaz branch Other 532 639 651 742 985 +17% CAGR +20% +2% +14% +33%
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19Care Medical Investor Presentation – 30/07/2026 9.9 8.9 7.9 9.3 9.5 FY21 FY22 FY23 FY24 FY25 1 FY20-23 data covers Rawabi and Malaz branches. FY24 and FY25 include Rawabi, Malaz, Al Balad, Al Salah, Haram, and ReLib. For Al Salam only operating indicators from the acquisition date are included. As an emergency facility, Haram records only outpatient visits, excluding inpatient admissions and surgeries. 2 “Other” includes Al Balad, Al Salam, Haram, and ReLib. 3. Average Length of Stay includes all facilities except for Al Baladbranch Operating Performance Overview1 (2/2) 320 320 320 320 360 335 335 335 459 459 349 359 FY21 FY22 FY23 FY24 FY25 Rawabi branch Malaz branch Other 655 655 655 1,128 1,178 +16% CAGR +0% +0% +72% +4% Bed Capacity Trend Bed Occupancy Trend Inpatient Days Trend (Thousand inpatient days) Average Length of Stay Trend3 (Days per stay) 77.6% 79.2% 70.8% 68.1% 83.5% FY21 FY22 FY23 FY24 FY25 -1% CAGR -10% -11% +52% +1% 184 189 169 268 353 FY21 FY22 FY23 FY24 FY25 +18% CAGR +2% -10% +58% +32%
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20Care Medical Investor Presentation – 30/07/2026 Financial Performance Overview 1 FY20-23 data covers Rawabi and Malaz branches. FY24 includes Rawabi, Malaz, Al Balad, Al Salah, Haram, and ReLib. For Al Salam only operating indicators from the acquisition date are included. As an emergency facility, Haram records only outpatient visits, excluding inpatient admissions and surgeries. 2 “Other” includes Al Balad, Al Salam, Haram, and ReLib. Total Revenue Trend (SAR MN) EBITDA Trend (SAR MN) Net Profit Trend (SAR MN) Margins Trend (%) 845 918 1,082 1,294 1,600 FY21 FY22 FY23 FY24 FY25 +17% CAGR +9% +18% +20% +24% 214 243 302 377 465 FY21 FY22 FY23 FY24 FY25 +21% CAGR +13% +24% +25% +23% 136 170 241 295 318 FY21 FY22 FY23 FY24 FY25 +24% CAGR +25% +42% +24% +8% 29.2% 36.8% 25.4% 29.1% 16.1% 19.9% FY21 FY22 FY23 FY24 FY25 Gross Profit Margin EBITDA Margin Net Profit Margin
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Contacts Institutional investor contact Alia Balbaa Investor Relations and Strategy Director abalbaa@care.med.sa +966-11-418-4488 ext. 322 Investor Relations website https://ir .care.med.sa/
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22Care Medical Investor Presentation – 30/07/2026 Disclaimer All information included in this document is for general use only and has not been independently verified, nor does it constitute or form part of any invitation or inducement to engage in any investment activity, nor does it constitute an offer or invitation or recommendation to buy or subscribe for any securities in the Kingdom of Saudi Arabia, or an offer or invitation or recommendation in respect of buying, holding or selling any securities of CARE. CARE does not warranty, express or implied, is made, and no reliance should be placed by any person or any legal entity for any purpose on the information and opinions contained in this document, or its fairness, accuracy, completeness or correctness. This document may include statements that are, or may be deemed to be, “forward-looking statements” with respect to the Company’s financial position, results of operations and business. Information on the Company’s plans, intentions, expectations, assumptions, goals and beliefs are for general update only and do not constitute or form part of any invitation or inducement to engage in any investment activity, nor does it constitute an offer or invitation or recommendation to buy or subscribe for any securities in any jurisdiction, or an offer or invitation or recommendation in respect of buying, holding or selling any securities of CARE.