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Bumrungrad Hospital Public Company Limited Analyst Presentation 2Q 2025 results 4 August 2025
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Analyst Presentation – 2Q 2025 results Disclaimer • The information contained in this presentation is for information purposes only and does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for any securities of Bumrungrad Hospital Public Company Limited (the "Company") in any jurisdiction nor should it or any part of it form the basis of, or be relied upon in connection with, any contract or commitment whatsoever. • This presentation is being communicated only to persons who have professional experience in matters relating to investments and/or to persons to whom it is lawful to communicate it under the laws of applicable jurisdictions. Other persons should not rely or act upon this presentation or any of its contents. • Certain information and statements made in this presentation contain the Company's forward-looking statements. All forward-looking statements are the Company's current expectation of future events and are subject to a number of factors that could cause actual results to differ materially from those described in the forward-looking statements. Prospective investors should take care with respect to such statements and should not place undue reliance on any such forward-looking statements. • This presentation has been prepared by the Company solely for the use at this presentation. The information in this presentation has not been independently verified. No representation, warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information and opinions in this presentation. None of the Company, any of its affiliates or any of their respective agents, advisors or representatives, shall have any liability (in negligence or otherwise) for any loss or damage howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation. The information presented or contained in this presentation is current as of the date hereof and is subject to change without notice and its accuracy is not guaranteed. None of the Company, any of its affiliates or any of their respective agents, advisors or representatives, makes any undertaking to update any such information subsequent to the date hereof. • This presentation should not be construed as legal, tax, investment or other advice. No part of this presentation shall be relied upon directly or indirectly for any investment decision-making or for any other purposes. Prospective investors should undertake their own assessment with regard to any investment and should obtain independent advice on any such investment’s suitability, inherent risks and merits and any tax, legal and accounting implications which it may have for them. • Certain data in this presentation were obtained from various external data sources, and none of the Company, any of its affiliates or any of their respective agents, advisors or representatives have verified such data with independent sources. Accordingly, the Company makes no representation as to the accuracy or completeness of those data, and such data involve risks and uncertainties and are subject to change based on various factors. 2
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Analyst Presentation – 2Q 2025 results Financial Highlights & Performance Business Updates 2Q 2025 Takeaways 3
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Analyst Presentation – 2Q 2025 results 2Q 2025 Takeaways 4 • Middle East Market Share Revenue Up 23% vs Q1 2025 (Qatar 18%, UAE 46%, Oman 28%, Saudi 54%) • 2Q 2025 EBITDA Margin = 41.6% Company Record • Strong Cost Control • 1H 2025 Dividend Payout Increase: 44% of EPS vs 41% 1H 2024 (2 Baht per share) • Phuket Hospital Update • Kuwait Update • 16% Share Price Growth @ 52 million Shares Traded(Source: SET of Thailand) • 2H 2025 Forecast • 3Q 2025 Guidance
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Analyst Presentation – 2Q 2025 results Remarks: Absent Y2020-Y2021 due to the COVID-19 pandemic years. * CAGR over 6-year period Y2018-Y2024. Y2024 vs Y2018 +40.0% CAGR* +5.8% // YoY Var.% 5 Historical Trend : Non-Thai Revenue
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Analyst Presentation – 2Q 2025 results Middle East Remarks: • Absent Y2020-Y2021 due to the COVID-19 pandemic years. • Middle East includes Bahrain, Egypt, Iran, Iraq, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Sudan, Syrian, UAE and Yemen. * CAGR over 6-year period Y2018-Y2024. Non-Middle East Y2024 vs Y2018 +56.2% Y2024 vs Y2018 +31.7% CAGR* +7.7% // CAGR* +4.7% // YoY Var.% YoY Var.% 6 Historical Trend : Non-Thai Revenue by Nationality Group
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Analyst Presentation – 2Q 2025 results Net Patient Revenue Proportion by Nationality for 2Q 2025 7
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Analyst Presentation – 2Q 2025 results Non-Thai Revenue by Top 10 Nationalities 1 Qatar -13.3% -19.3% 2 Myanmar +10.1% +15.3% 3 United States +6.9% +13.9% 4 Bangladesh +5.8% -5.8% 5 Cambodia -28.5% -17.8% 6 United Arab Emirates -1.0% -21.4% 7 China -21.7% -12.9% 8 United Kingdom +3.4% +6.2% 9 Mongolia -10.3% -9.7% 10 Oman -13.4% -23.7% Total Non-Thai Patients -6.6% -8.2% Nationality 2Q2025 vs 2Q2024 1H2025 vs 1H2024 Net Patient Revenues -% Variance YoY 8
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Analyst Presentation – 2Q 2025 results Consolidated BHPCL Revenue 9
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Analyst Presentation – 2Q 2025 results Net Patient Revenue Total Revenue 6,331 MB 6,104 MB 12,901 MB 12,310 MB - 4,000 8,000 12,000 2Q2024 2Q2025 1H2024 1H2025 -3.6% -4.6% 6,282 MB 6,005 MB 12,798 MB 12,125 MB - 4,000 8,000 12,000 2Q2024 2Q2025 1H2024 1H2025 -4.4% -5.3% Consolidated BHPCL : Revenues 10
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Analyst Presentation – 2Q 2025 results Net Patient Revenue Proportion by Nationality Non-Thai Thai Historical Trend 11
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Analyst Presentation – 2Q 2025 results Overall Non-Thai Thai -4.4% +0.5% -5.3% -8.2%-6.6% -0.2% Net Patient Revenue by Nationality 12
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Analyst Presentation – 2Q 2025 results Non-Thai Revenue : Middle East, Indochina and Others Middle East includes Bahrain, Egypt, Iran, Iraq, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Sudan, Syrian, UAE and Yemen. Indochina includes Bangladesh, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore and Vietnam. Indochina Middle East -22.4%-12.4% Others +0.5% +0.4%-2.3% -3.5% Middle East 2Q25 vs 2Q24 +1.7% OP Visits +9.4% IP Admissions -23% Revenue Intensity Middle East 1H25 vs 1H24 -4.5% OP Visits +1.1% IP Admissions -26% Revenue Intensity 13
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Analyst Presentation – 2Q 2025 results Financial Highlights & Performance Business Updates 2Q 2025 Takeaways 14
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Analyst Presentation – 2Q 2025 results Financial Highlights 2Q25 vs 2Q24 1H25 vs 1H24 Total Revenues -3.6% -4.6% EBITDA -1.6% -7.2% Net Profit and Diluted EPS -3.8% -8.3% 2Q25 2Q24 1H25 1H24 EBITDA Margin 41.6% 40.7% 39.6% 40.7% Net Profit Margin 30.4% 30.5% 29.2% 30.4% 15
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Analyst Presentation – 2Q 2025 results Total Revenues 6,331 6,104 12,901 12,310 2Q24 2Q25 1H24 1H25 Unit: THB mm -3.6% -4.6% 16
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Analyst Presentation – 2Q 2025 results Revenues Contribution by Services 50% 50% 51% 49% 50% 50% 49% 51% 2Q24 2Q25 1H24 1H25 Inpatient Services Outpatient Services 17
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Analyst Presentation – 2Q 2025 results Revenues Contribution by Payor Type (% of Revenue) 62%19% 18% 1% 1H24 63% 22% 14% 1% 1H25 Self-pay Insurance Government 3rd Party Payors Other 3rd Party Payors 18
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Analyst Presentation – 2Q 2025 results 2,577 2,537 5,254 4,876 40.7% 41.6% 40.7% 39.6% -50.0% -30.0% -10.0% 10.0% 30.0% 50.0% 2Q24 2Q25 1H24 1H25 0 4,000 8,000 12,000 Unit: THB mm EBITDA EBITDA Margin EBITDA & EBITDA Margin -1.6% -7.2% 19
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Analyst Presentation – 2Q 2025 results Net Profit Margin Net Profit & Net Profit Margin 1,932 1,858 3,917 3,591 30.5% 30.4% 30.4% 29.2% -70.0% -50.0% -30.0% -10.0% 10.0% 30.0% 2Q24 2Q25 1H24 1H25 0 2,000 4,000 6,000 8,000 -3.8% -8.3% Net Profit Unit: THB mm 20
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Analyst Presentation – 2Q 2025 results Leverage Ratio 0.5 (0.6) (0.3) (0.4) (0.3) (0.2) 0.1 (0.1) (0.1) (0.2) (0.1) (0.1) Y2020 Y2021 Y2022 Y2023 Y2024 1H25 Net Debt to EBITDA (x) Net Debt to Equity (x) 21
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Analyst Presentation – 2Q 2025 results Unit: THB mm % Liabilities to Assets Total Assets Total Liabilities Liabilities to Assets 22
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Analyst Presentation – 2Q 2025 results Operating Investing Financing Cash Flow Statements Cash and cash equivalents Short-term investments Long-term investments Total Cash/ Investment 1H251H24 1,951 MB 10,438 MB 2,518 MB 14,907 MB 3,922 MB 7,144 MB 1,196 MB 12,262 MB 23
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Analyst Presentation – 2Q 2025 results Business Updates Financial Highlights & Performance 2Q 2025 Takeaways 24
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Analyst Presentation – 2Q 2025 results Business Development Updates Rajeev Rajan Chief Business Development Officer 25
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Analyst Presentation – 2Q 2025 results Net Patient Revenue by Nationality Overall Non-Thai Thai -4.4% +0.5% -5.3% -8.2%-6.6% -0.2% 26
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Analyst Presentation – 2Q 2025 results Non-Thai Revenue : Middle East, Indochina and Others Middle East includes Bahrain, Egypt, Iran, Iraq, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Sudan, Syrian, UAE and Yemen. Indochina includes Bangladesh, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore and Vietnam. Indochina Middle East -22.4%-12.4% Others +0.5% +0.4%-2.3% -3.5% Middle East 2Q25 vs 2Q24 +1.7% OP Visits +9.4% IP Admissions -23% Revenue Intensity Middle East 1H25 vs 1H24 -4.5% OP Visits +1.1% IP Admissions -26% Revenue Intensity 27
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Analyst Presentation – 2Q 2025 results Non-Thai Revenue by Top 10 Nationalities 1 Qatar -13.3% -19.3% 2 Myanmar +10.1% +15.3% 3 United States +6.9% +13.9% 4 Bangladesh +5.8% -5.8% 5 Cambodia -28.5% -17.8% 6 United Arab Emirates -1.0% -21.4% 7 China -21.7% -12.9% 8 United Kingdom +3.4% +6.2% 9 Mongolia -10.3% -9.7% 10 Oman -13.4% -23.7% Total Non-Thai Patients -6.6% -8.2% Nationality 2Q2025 vs 2Q2024 1H2025 vs 1H2024 Net Patient Revenues -% Variance YoY 28
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Analyst Presentation – 2Q 2025 results Business Updates Dr. Artirat Charukitpipat, Ph.D. Chief Executive Officer 29
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Analyst Presentation – 2Q 2025 results Recognition Bumrungrad International Hospital has been recognized in Newsweek’s Best Specialized Hospitals Asia Pacific 2025 ranking across all 9 specialty fields, as follows: 30
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Analyst Presentation – 2Q 2025 results Bumrungrad International Hospital held a press conference Advanced HA Re-accreditation (AHA) 3rd Advanced HA Re-accreditation Bumrungrad International Hospital has been approved for renewal of its Advanced Hospital Accreditation (Advanced HA) under the Hospital and Healthcare Standards. Certification Period: May 23, 2025 – May 22, 2029 (4 yrs.) This reflects our continued commitment to excellence in healthcare delivery. 25-27 March 2025 Re-Accreditation 31
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Analyst Presentation – 2Q 2025 results Program Certifications Joint Commission International Clinical Care Program Certification (JCI CCPC) Heart Failure Program 1st Re-Certification 26-27 May 2025 Breast Cancer Program Certification 28-29 May 2025 32
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Analyst Presentation – 2Q 2025 results Disease Screening Campaign Targeted detection with downstream care pathways for abnormal findings Disease Screening Campaign Campaign period: 1 May - 31 Aug 25 GAST04 Gastro & Colon Screening 44,387 GAST02 Colon Screening 10,033 GAST03 Gastro Screening 7,578 RADIO03 Mammogram with U/S 5,237 IPDEYE40 Phacoemulsification (single) 4,902 Top 5 Revenue-Contributing Screening Programs Code Screening name THB (‘000) 95.6 MB (2 months) Achieved 97% vs. 2 months’ target 0 MB 197 MB (4 months) 33
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Analyst Presentation – 2Q 2025 results Robotic assisted surgery [Da Vin Ci – XI] • Urology 21 cases • ENT 1 case • CVT 1 case • Colorectal 1 case 24 cases TRAINING & PREVILEGES 23 surgeons have completed training and been granted privileges to use the da Vinci Xi robotic surgery system. An additional 13 surgeons are currently undergoing training for the TR100 system in Singapore and at public medical hospitals in Thailand. Mar- 15 Jul 2025 Urology General surgery CVT ENT Colorectal Gyne Robotic Assisted Surgery 34
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Analyst Presentation – 2Q 2025 results Press Conference Comprehensive Care in 3 Dimensions: • Internationally recognized orthopedic cases • Advanced robotic-assisted surgical technology (MAKO) • Seamless patients journey and personalized care 26 May 2025 Advanced Arthritis & Arthroplasty Center Goals: • Enhance safety • Fast recovery • Minimize complications • Deliver outstanding clinical outcomes • Helping patients regain mobility and live life to the fullest. 35
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Analyst Presentation – 2Q 2025 results Centers of Excellence (COE) Performance %Var. 2Q25 vs. 2Q24 Cancer Center -3.0% Heart Center +7.9% Gastroenterology & Hepatology -7.2% Neuroscience +3.9% Ophthalmology -6.4% Urology -15.1% Spine & Pain Management -0.5% Colorectal Surgery -21.4% Breast -5.9% 36
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Analyst Presentation – 2Q 2025 results Expansion Projects Updates: New Bumrungrad Comprehensive Cancer Center Puttarapong Kanpukdee Chief Administrative Officer 37
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Analyst Presentation – 2Q 2025 results NEW BUMRUNGRAD COMPREHENSIVE CANCER CENTER Strategic Rationale & Global Cancer Landscape By 2050, 35 million new cancer cases are expected globally, 77% increase from 2022. Projected cancer burden increase in 2050 • Southeast Asia, home to over 4.3 billion people, contributes 49% of global new cancer cases (9.2 million) and 53% of cancer deaths (5.1 million) each year. • In the Middle East, cancer incidence is rising rapidly due to aging populations and lifestyle changes, with breast and colorectal cancers being the most common. • In Thailand, our home market, over 183,000 new cancer cases are expected in 2025, with breast, lung, colorectal, prostate, and liver cancers being the top5. 38
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Analyst Presentation – 2Q 2025 results NEW BUMRUNGRAD COMPREHENSIVE CANCER CENTER Bumrungrad’s Vision for Comprehensive Cancer Care Multidisciplinary collaboration among subspecialty teams: • Medical Oncologists ,Hematologic Oncologists, Radiation Oncologists, Surgical Oncologists for complex tumor resections, Breast Surgeons. • Palliative Care Specialists, Onco- nutritionists, Psycho-oncologists. • Oncology Pharmacist, Oncology Nurse and other professionals. These teams work together to deliver the most effective and compassionate care tailored to each patient. Comprehensive, Continuous, Precision and Personalized Precise Prediction &Screening Rapid and Precise Diagnostic Comprehensive and Personalized Treatment Closel follow up Survivorship Integrating Palliative care 39
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Analyst Presentation – 2Q 2025 results NEW BUMRUNGRAD COMPREHENSIVE CANCER CENTER Strategic Objectives of the New Cancer Center 1. Expand Physical capacity and Clinical capabilities. 2. Enhance Care processes and Patient experience. 3. Deliver Personalized cancer journeys for every patient. 4. Integrate advanced medical technologies and healing environments. The New Bumrungrad Comprehensive Cancer Center is designed to: This initiative transforms strategic vision into tangible infrastructure and service excellence. 40
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Analyst Presentation – 2Q 2025 results 41 NEW BUMRUNGRAD COMPREHENSIVE CANCER CENTER Collaboration with Mass General Brigham Our shared goal is to maximize the value of cancer care through: 1. Good clinical outcomes – early detection, precise diagnosis, effective treatment. 2. Good quality of life – comprehensive supportive and palliative care. 3. Good patient experience – seamless access and exceptional service quality. 41
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Analyst Presentation – 2Q 2025 results C A B NEW BUMRUNGRAD COMPREHENSIVE CANCER CENTER Facility Overview Annex B Annex Soi Sukhumvit 1: Main entrance Soi Sukhumvit 1/1: Connect to Main campus building B Bridge 42
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Analyst Presentation – 2Q 2025 results NEW BUMRUNGRAD COMPREHENSIVE CANCER CENTER Facility Overview L6 B1 896 SQM Total Floor Area 822 SQM Total 4,947 SQM Chemo Infusion 2 (VIP), Psychological and Spiritual care area L5 896 SQMChemo and Non-Chemo Infusion (1), Chemo Admixture L4 896 SQMBreast Center, Breast Imaging L3 768* SQMCancer Clinic 2 (Hemato-Onco, Radio-Onco, Surg-Onco) L2 669** SQMCancer Clinic 1 (Medical-Onco) L1 Reception and Drop-off Point Kitchen Showcase, Complimentary Cancer Program, Healthy Living Program, Cancer diet restaurant *excluding walkway and escalator 128 sq.m. **excluding walkway and escalator 195 sq.m. 43
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Analyst Presentation – 2Q 2025 results NEW BUMRUNGRAD COMPREHENSIVE CANCER CENTER Capacity Expansion Highlights • Increasing consultation rooms from 10 to 23 for oncology subspecialties • Integrating Breast Center and Imaging into a 1-stop patient- centric model • Designing teamwork rooms for multidisciplinary decision- making • Expanding chemotherapy rooms from 18 to 30, with culturally sensitive layouts • Adding spaces for psychological support, music therapy, and palliative care • Introducing specialized services: Cancer Diet Kitchen, Restaurant, Image Boutique, and Complimentary Cancer Programs 44
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Analyst Presentation – 2Q 2025 results NEW BUMRUNGRAD COMPREHENSIVE CANCER CENTER Concept Design Principles Patient-Centric Collaborative & Comprehensive Care Safety & Flexible Space Longevity Wellness Healing & Green Space • Privacy and Comfort • Patient and Family Support Areas • Non-fixed exam rooms workflow • Integrated Care Pathway • Team Workspaces and Staff Support Areas • Alignment with the global standards • Design adaptable spaces (or modular design) • Complementary and Wellness Programs • Multi-Faith and Contemplation Areas • Nature views enhance relaxation and recovery • Utilize natural light and warm lighting foster a welcoming atmosphere 1 2 3 4 5 45
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Analyst Presentation – 2Q 2025 results NEW BUMRUNGRAD COMPREHENSIVE CANCER CENTER Project Timeline • Project phase: Schematic Design Stage • Expected completion: 2027 Milestone 2025 2026 2027 1. Mobilization & Pre-Concept Stage 2. Conceptual Design Stage 3. Schematic Design Stage 4. Design Development State 5. Tender Documentation Stage 6. Construction Stage 46
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Analyst Presentation – 2Q 2025 results New Bumrungrad Comprehensive Cancer Center — Shaping the Future of Cancer Care . 47
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Analyst Presentation – 2Q 2025 results VitalLife Updates 48 Dr. Polakit Teekakirikul, M.D. Chief Executive Officer; VitalLife & Esperance / Chief Science Officer
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Analyst Presentation – 2Q 2025 results 49 VitalLife Scientific Wellness Center Analyst Presentation – 2Q 2025 results
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Analyst Presentation – 2Q 2025 results Longevity: the new era of medicine 53
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ILLNESS – WELLNESS CONCEPT DISEASE Multiple medications Poor quality of life Potential becomes limited Body has limited function POOR HEALTH Symptoms Drug therapy Surgery Losing normal function NEUTRAL No symptoms Nutrition inconsistent Exercise sporadic Health not a high priority GOOD HEALTH Regular exercise Good nutrition Wellness education Minimal nerve interference OPTIMAL HEALTH 100% function Continuous development Active participation Wellness lifestyle COMFORT ZONE (FALSE WELLNESS) PRE- MATURE DEATH HIGH-LEVEL WELLNESS 0 1 2 3 4 5 6 7 8 9 10 Disease Developing Wellness Developing Analyst Presentation – 2Q 2025 results55
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Analyst Presentation – 2Q 2025 results Longevity across lifespan Newborn Screening Preconception gene testing Advanced Diagnostics Lifestyle & health coach Early Disease Screening Prenatal testing Geriatrics Wellness & Longevity Bumrungrad x VitalLife 56
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Analyst Presentation – 2Q 2025 results VitalLife Lifestyle Medicine Analyst Presentation – 2Q 2025 results 62
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Analyst Presentation – 2Q 2025 results Muscle-centric cognitive training powered by AI ddrobotec® 63
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Analyst Presentation – 2Q 2025 results CogniFine Program Non-invasive brain stimulation technology 64
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