Slides
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No Image Third Quarter 2026 Earnings Presentation October 30, 2026
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No Image 29 79 145 38 154 188 141 198 63 213 133 18 200 200 200 143 143 143 70 184 218 2 No Image Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect our current views with respect to, among other things, our operations and financial performance. Forward-looking statements include all statements that are not historical facts. These forward-looking statements may relate to matters which include, but are not limited to, industries, business strategy, goals and expectations concerning our market position, future operations, margins, profitability, capital expenditures, liquidity and capital resources and other financial and operating information. In some cases, we have used words such as “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “future,” “will,” “seek,” “foreseeable,” “target,” “guidance,” the negative version of these words, or similar terms and phrases to identify these forward-looking statements. The forward-looking statements are based on management’s current expectations and are not historical facts or guarantees of future performance. The forward- looking statements relate to the future and are therefore subject to various risks, uncertainties, assumptions, or changes in circumstances that are difficult to predict or quantify. Our expectations, beliefs, and projections are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that management’s expectations, beliefs, and projections will result or be achieved. Actual results may differ materially from these expectations due to changes in global, regional, or local economic, business, competitive, market, regulatory, and other factors, many of which are beyond our control. We believe that these factors include but are not limited tothe following: • our operation in a highly competitive industry; • our inability to maintain relationships with existing patient referral sources or establish new referral sources; • changes to Medicare and Medicaid rates or methods governing Medicare and Medicaid payments for our services; • cost containment initiatives of third-party payors, including post-payment audits; • the implementation of alternative payment models and the transition of Medicaid and Medicare beneficiaries to managed care organizations may limit our market share and could adversely affect our revenues; • changes in the case mix of patients, as well as payor mix and payment methodologies, and decisions and operations of third-party organizations; • our reliance on federal and state spending, budget decisions, and continuous governmental operations which may fluctuate under different political conditions; • changes in drug utilization and/or pricing, PBM contracts, and Medicare Part D/Medicaid reimbursement, which may negatively impact our profitability; • changes in our relationships with pharmaceutical suppliers, including changes in drug availability or pricing; • reliance on the continual recruitment and retention of nurses, pharmacists, therapists, caregivers, direct support professionals, and other qualified personnel, including senior management; • compliance with or changes to federal, state, and local laws and regulations that govern our employment practices, including minimum wage, living wage, and paid time-off requirements; • fluctuation of our results of operations on a quarterly basis; • harm caused by labor relation matters; • limitations in our ability to control reimbursement rates received for our services if we are unable to maintain or reduce our costs to provide such services; • delays in collection or non-collection of our accounts receivable, particularly during the business integration process; • failure to manage our growth effectively, which may inhibit our ability to execute our business plan, maintain high levels of service and satisfaction or adequately address competitive challenges; • our ability to identify, successfully complete and manage acquisitions, joint ventures, divestitures and other significant transactions and strategic initiatives; • our ability to continue to provide consistently high quality of care; • maintenance of our corporate reputation or the emergence of adverse publicity, including negative information on social media or changes in public perception of our services; • contract continuance, expansion and renewal with our existing customers, including renewals at lower fee levels, customers declining to purchase additional services from us, or reduction in the services received from us pursuant to those contracts; • effective investment in, implementation of improvements to and proper maintenance of the uninterrupted operation and data integrity of our information technology and other business systems; • security breaches, loss of data, and other disruptions, which could compromise sensitive business or patient information; cause a loss of confidential patient data, employee data or personal information; or prevent access to critical information and thereby expose us to liability, litigation, and federal and state governmental inquiries and damage our reputation and brand; • risks related to credit card payments and other payment methods; • potential substantial malpractice or other similar claims; • various risks related to governmental inquiries, regulatory actions, and whistleblower and other lawsuits, which may not be entirely covered by insurance; • our current insurance program, which may expose us to unexpected costs, particularly if we incur losses not covered by our insurance or if claims or losses differ from our estimates; Forward-Looking Statements; Non-GAAP Financial Information • factors outside of our control, including those listed, which have required and could in the future require us to record an asset impairment of goodwill; • a pandemic, epidemic, or outbreak of an infectious disease; • inclement weather, natural disasters, acts of terrorism, riots, civil insurrection or social unrest, looting, protests, strikes, or street demonstrations; • our inability to adequately protect our intellectual property rights; • risks related to our compliance with our regulatory framework; • The significant interests of KKR Stockholder may conflict with our stockholders’ interests in the future; • our substantial indebtedness; • significant changes in tax or trade policies, tariffs, or trade relations between the United States and other countries, such as the imposition of unilateral tariffs on imported products, including impacts on imported drug products, which could result in supply chain disruptions and significant increases in costs; and • fluctuations in the amount and frequency of repurchases of our common stock. The forward-looking statements included in this presentation are made only as of the date of this presentation, and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as required by law. These factors should not be construed as exhaustive, and should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, our actual results may vary in material respects from those projected in these forward-looking statements. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We may not actually achieve the plans, intentions, or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. Our forward- looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures, investments, or other strategic transactions we may make. For additional information on these and other factors that could cause BrightSpring’s actual results to differ materially from expected results, please see our filings with the Securities and Exchange Commission (the “SEC”), which are accessible on the SEC’s website atwww.sec.gov. Presentation of Data Within this presentation, we reference information and statistics regarding the industries in which we compete. We have obtained this information and statistics from various independent third-party sources, including independent trade associations, industry publications, government publications, reports by market research firms and other independent sources. Some data and other information contained in this presentation are also based on management’s estimates and calculations, which are derived from our review and interpretation of internal company research, surveys, information from our customers and suppliers, trade and business organizations and other contacts in the markets in which we operate and independent sources. Data regarding the industries in which we compete and our market position and market share within the industries are inherently imprecise and are subject to significant business, economic and competitive uncertainties beyond our control, but we believe they generally indicate size, position and market share within the industries. In addition, assumptions and estimates of our and our industries’ future performance are necessarily subject to a high degree of uncertainty and risk due to a variety of factors, which could cause our future performance to differ materially from our assumptions and estimates. Numerical figures included in this presentation have been subject to rounding adjustments. Accordingly, numerical figures shown as totals in various tables and charts may not be arithmetic aggregations of the figures that precede them. Non-GAAP Financial Information This presentation contains “non-GAAP financial measures,” including “EBITDA,” “Segment EBITDA,” “Adjusted EBITDA,” and “Adjusted EPS,” which are financial measures that either exclude or include amounts that are not excluded or included in the most directly comparable measures calculated and presented in accordance with accounting principles generally accepted in the United States, or GAAP. EBITDA, Segment EBITDA, Adjusted EBITDA, and Adjusted EPS have been presented in this release as supplemental measures of financial performance that are not required by, or presented in accordance with, GAAP, because we believe they assist investors and analysts in comparing our operating performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance. Management also believes that these measures are useful to investors in highlighting trends in our operating performance, while other measures can differ significantly depending on long- term strategic decisions regarding capital structure, the tax jurisdictions in which we operate and capital investments. Management uses EBITDA, Segment EBITDA, Adjusted EBITDA, and Adjusted EPS to supplement GAAP measures of performance in the evaluation of the effectiveness of our business strategies, to make budgeting decisions, to establish and award discretionary annual incentive compensation, and to compare our performance against that of other peer companies using similar measures. Management supplements GAAP results with non-GAAP financial measures to provide a more complete understanding of the factors and trends affecting the business than GAAP results alone. EBITDA, Segment EBITDA, Adjusted EBITDA, and Adjusted EPS are not GAAP measures of our financial performance and should not be considered as an alternative to net income as a measure of financial performance or any other performance measures derived in accordance with GAAP. Additionally, these measures are not intended to be a measure of free cash flow available for management’s discretionary use as they do not consider certain cash requirements such as tax payments, debt service requirements, total capital expenditures, and certain other cash costs that may recur in the future. Management defines EBITDA as net income from continuing operations before income tax expense, interest expense, net and depreciation and amortization. Management defines Segment EBITDA as segment operating income before income tax expense, interest expense, net and depreciation and amortization. Management also defines Adjusted EBITDA as EBITDA, further adjusted to exclude non-cash share-based compensation, acquisition, integration and transaction- related costs, and restructuring and divestiture-related and other costs. Management also defines Adjusted EPS as Diluted EPS, further adjusted to exclude non- cash share-based compensation, acquisition, integration and transaction-related costs, restructuring and divestiture-related and other costs, and the income tax impact of the aforementioned adjustments. The presentations of these measures have limitations as analytical tools and should not be considered in isolation, or as a substitute for analysis of our results as reported under GAAP. Because not all companies use identical calculations, the presentations of these measures may not be comparable to other similarly titled measures of other companies and can differ significantly from company to company. Please see the end of this presentation for reconciliations of non-GAAP financial measures to the most directly comparable financial measure prepared in accordance with GAAP.
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No Image 29 79 145 38 154 188 141 198 63 213 133 18 200 200 200 143 143 143 70 184 218 3 A leading pharmacy and health care provider in the U.S., serving large and growing markets that have significant unmet needs, with high-quality and integrated services that improve outcomes and reduce cost
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No Image 29 79 145 38 154 188 141 198 63 213 133 18 200 200 200 143 143 143 70 184 218 4 BrightSpring: A Leader in Home & Community Healthcare High-Quality, Preferred, and Lower Cost Health Services Delivered to Large and Complex Populations Where They Are Driving patient access and outcomes, through operational focus, quality, and technology and people investments, supplemented with patient engagement and new locations, analytics, and integrated care capabilities Leveraging a uniquely scaled and complementary platform of leading services, defined by continuous process innovation, best practices deployment, and enterprise efficiency, for differentiation and longer-term sustainability ✓ ✓ ✓ Providing Needed Solutions Focus on Operational Capabilities Importance of Scale and Services Serving large and growing healthcare populations, characterized by high-cost, high-acuity, and significant complexity, with patient-centered and high-quality services delivered in preferred and lower-cost home and community settings
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No Image 29 79 145 38 154 188 141 198 63 213 133 18 200 200 200 143 143 143 70 184 218 5 26.4% Revenue Growth 42.0% Adj. EBITDA Growth $4,213M Revenue $228M Adj. EBITDA BrightSpring Financial Highlights Note: Adjusted EBITDA and Segment EBITDA are non-GAAP metrics. See Slide 16 for a reconciliation of Segment EBITDA to net income from continuing operations. See slide 17 for a reconciliation of Adjusted EBITDA to net income from continuing operations. All financial results pertain to continuing operations and exclude the Community Living business, which was divested on March 30, 2026. Note: Effective July 1, 2026, the Company realigned its Rehab in Motion business from the Rehab Care sub-segment to the Home Health Care sub-segment to reflect how the business is managed. Prior period sub-segment information has been recast to conform to the current presentation. The change did not affect consolidated company or segment results. The impact on prior periods was not material. Third Quarter 2026 Pharmacy Solutions Revenue $3,732 +25.8% Specialty and Infusion Revenue 3,180 +33.8% Home and Community Revenue 553 (6.3%) Pharmacy Segment EBITDA $202 +43.3% Third Quarter 2026 ($ in millions) Y/Y Growth Provider Services Revenue $481 +31.0% Home Health Care Revenue 288 +52.4% Rehab Care Revenue 82 +8.3% Personal Care Revenue 111 +8.1% Provider Segment EBITDA $79 +30.1% Leading service lines in home & community healthcare markets, and meaningful clinical integrations across patients and services today SpecialtyandInfusionPharmacy Provider Services Seniors and Specialty Patients Pharmacy Solutions Home andCommunityPharmacy PersonalCare Rehab Care HomeHealthCare
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No Image 29 79 145 38 154 188 141 198 63 213 133 18 200 200 200 143 143 143 70 184 218 6 $141 $202 $61 $79 Q3 2025 Q3 2026 +30.1% +43.3% $2,967 $3,732 $367 $481 Q3 2025 Q3 2026 ($ in millions) Pharmacy Solutions Provider Services Q3 2026 Revenue and Adjusted EBITDA Results Revenue $4,213 $3,334 BrightSpring reported a year-over-over revenue increase of 26% driven by broad increases in volume and strong growth in both segments; Adjusted EBITDA grew 42% driven by broad-based operational execution Total Revenue +26.4% Adjusted EBITDA(1) $228 $160 Total Adjusted EBITDA +42.0% Adj. EBITDA margin(1) 5.4%4.8% Note: Adjusted EBITDA is a non-GAAP metric. See Slide 17 for a reconciliation of Adjusted EBITDA to net income from continuing operations. Segment EBITDA is presented for the reportable segments as a component of consolidated company Adjusted EBITDA and is a non-GAAP metric. See slide 16 for a reconciliation of Segment EBITDA to net income from continuing operations. All financial results pertain to continuing operations and exclude the Community Living business, which was divested on March 30, 2026. 1. Adjusted EBITDA Margin is Adjusted EBITDA/Revenue for the applicable period. ($ in millions) +31.0% +25.8%
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No Image 29 79 145 38 154 188 141 198 63 213 133 18 200 200 200 143 143 143 70 184 218 7 $2,377 $3,180 $590 $553 Q3 2025 Q3 2026 (6.3%) $141 $202 Q3 2025 Q3 2026 ($ in millions) Specialty and Infusion Pharmacy Home and Community Pharmacy Q3 2026 Pharmacy Solutions Segment Performance Q3 2026 Revenue $3,732 $2,967 Business Metrics Prescriptions dispensed (thousands) Revenue per script Gross Profit per script 10,950 $340.86 $28.86 Pharmacy revenue growth driven by Specialty and Infusion volume and mix, with strong EBITDA growth in both Specialty and Infusion and Home and Community Pharmacy; growth across all per script metrics +1.5% y/y +24.0% y/y +26.8% y/y Q3 2026 Segment EBITDA Segment EBITDA margin(2) Pharmacy Solutions(1) +25.8% +33.8% 4.8% 5.4% +43.3% 10,793 in 3Q25 $274.89 in 3Q25 $22.76 in 3Q25 Note: Segment EBITDA and Segment EBITDA Margin are non-GAAP metrics. See Slide 16 for a reconciliation of Segment EBITDA and Segment EBITDA Margin. All financial results pertain to continuing operations and exclude the Community Living business, which was divested on March 30, 2026. 1. Revenue may not reconcile due to rounding. 2. Segment EBITDA Margin is Segment EBITDA/Revenue for the applicable period. ($ in millions)
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No Image 29 79 145 38 154 188 141 198 63 213 133 18 200 200 200 143 143 143 70 184 218 8 $61 $79 Q3 2025 Q3 2026 Home Health Care Rehab Care Q3 2026 Provider Services Segment Performance Q3 2026 Revenue $189 $288 $76 $82$102 $111 Q3 2025 Q3 2026 $481 $367 Business Metrics Home Health Care average daily census Rehab Care persons served 47,256 7,574 Provider Services delivered strong revenue and Segment EBITDA growth driven by volume increases and operational efficiencies; outsized Home Health Care revenue growth driven by acquisition integration and organic and acquisition ADC growth +57.6% y/y +9.3% y/y Q3 2026 Segment EBITDA Segment EBITDA margin(2) 16.5% 16.4% Provider Services(1) +31.0% +8.3% +52.4% +30.1% 29,980 in 3Q25 6,932 in 3Q25($ in millions) Personal Care +8.1% Personal Care persons served 16,320 +1.2% y/y 16,134 in 3Q25 ($ in millions) Note: Segment EBITDA and Segment EBITDA Margin are non-GAAP metrics. See Slide 16 for a reconciliation of Segment EBITDA and Segment EBITDA Margin. Note: Effective July 1, 2026, the Company realigned its Rehab in Motion business from the Rehab Care sub-segment to the Home Health Care sub-segment to reflect how the business is managed. Prior period sub-segment information has been recast to conform to the current presentation. The change did not affect consolidated company or segment results. The impact on prior periods was not material. All financial results pertain to continuing operations and exclude the Community Living business, which was divested on March 30, 2026. 1. Revenue may not reconcile due to rounding. 2. Segment EBITDA Margin is Segment EBITDA/Revenue for the applicable period.
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No Image 29 79 145 38 154 188 141 198 63 213 133 18 200 200 200 143 143 143 70 184 218 9 Financial Performance: Three Months Ended September 30, 2026 Three Months Ended September 30, 2025 vs. Three Months Ended September 30, 2026 ($ in millions, except Margin) Three Months Ended September 30, 2025 Three Months Ended September 30, 2026 Change % Revenue $2,967 $3,732 25.8% Cost of goods(1) $2,721 $3,416 25.5% Gross profit(2) $246 $316 28.6% Segment EBITDA $141 $202 43.3% Segment EBITDA Margin %(3) 4.8% 5.4% 60bps Pharmacy Solutions Provider Services ($ in millions, except Margin)` Three Months Ended September 30, 2025 Three Months Ended September 30, 2026 Change % Revenue $367 $481 31.0% Cost of services(1) $221 $278 26.0% Gross profit(2) $146 $203 38.4% Segment EBITDA $61 $79 30.1% Segment EBITDA Margin %(3) 16.5% 16.4% (10)bps Note: Adjusted EBITDA , Total Segment EBITDA, and Segment EBITDA Margin are non-GAAP metrics. See Slide 16 for a reconciliation of Total Segment EBITDA and Segment EBITDA Margin. See slide 17 for a reconciliation of Adjusted EBITDA to net income from continuing operations. All financial results pertain to continuing operations and exclude the Community Living business, which was divested on March 30, 2026. 1. Balance includes depreciation and amortization expense that relates to revenue-generating assets 2. Gross profit may not reconcile due to rounding 3. Segment EBITDA Margin is Segment EBITDA/Revenue for the applicable period ($ in millions) Three Months Ended September 30, 2025 Three Months Ended September 30, 2026 Change % Pharmacy Solutions Segment EBITDA $141 $202 43.3% Provider Services Segment EBITDA 61 79 30.1% Total Segment EBITDA 202 281 39.3% Total Company Corporate Costs $(41) $(53) n.m. Total Company Adjusted EBITDA 160 228 42.0% Total Company
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No Image 29 79 145 38 154 188 141 198 63 213 133 18 200 200 200 143 143 143 70 184 218 10 Prior FY 2026 Guidance1 Prior FY 2026 Guidance1 Prior FY 2026 Guidance1 Updated FY 2026 Guidance1 ($ in millions) Provided February 27, 2026 Provided May 1, 2026 Provided July 31, 2026 Provided October 30, 2026 Pharmacy Revenue $12,600 – $13,100 10.1% – 14.5% y/y1 $12,850 – $13,300 12.3% – 16.2% y/y1 $13,200 – $13,500 15.3% – 17.9% y/y1 $14,000 – $14,200 22.3% – 24.1% y/y1 Provider Revenue $1,850 – $1,900 26.3% – 29.7% y/y1 $1,875 – $1,925 28.0% – 31.4% y/y1 $1,900 – $1,925 29.7% – 31.4% y/y1 $1,900 – $1,925 29.7% – 31.4% y/y1 Total Revenue $14,450 – $15,000 11.9% – 16.2% y/y1 $14,725 – $15,225 14.1% – 17.9% y/y1 $15,100 – $15,425 17.0% – 19.5% y/y1 $15,900 – $16,125 23.2%-24.9% y/y1 Total Company Adjusted EBITDA $760 – $790 23.1% – 27.9% y/y1 $795 – $825 28.7% – 33.6% y/y1 $820 – $845 32.8% – 36.8% y/y1 $850 – $860 37.6% – 39.3% y/y1 2026 Fiscal Year Guidance Note: Adjusted EBITDA is a non-GAAP metric. See Slide 17 for a reconciliation of Adjusted EBITDA to net income from continuing operations. All financial results pertain to continuing operations and exclude the Community Living business, which was divested on March 30, 2026. 1. FY 2026 guidance growth rates ranges reflect growth compared to FY 2025 results, excluding the Community Living business and other acquisitions that have not yet closed. 2026 Guidance, Excluding Community Living
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No Image 29 79 145 38 154 188 141 198 63 213 133 18 200 200 200 143 143 143 70 184 218 11 Cash Flow Generation Capability • Capex investments: 1% of revenue • Sustainable net working capital position and annual investments • Estimated 2026 Operating Cash Flow of ~$700 million(1) M&A • Acquisitions focused on synergistic and accretive transactions to drive geographic expansion and increased scale • Proprietary opportunity generation and disciplined target selection • Proven integration process and capabilities Debt Service • Capital allocation priority to reduce leverage ratio to long-term target • Associated reduction in interest expense, including through ratings and refinancings • Long-term leverage target of ~2.5x or below Note: The forward-looking information presented in this slide are not projections; they are goals/ targets and are forward-looking, subject to significant business, economic, regulatory and competitive uncertainties and contingencies, many of which are beyond the control of the Company and its management, and are based upon assumptions with respect to future decisions and opportunities, which are subject to change. Actual results will vary and those variations may be material. For discussion of some of the important factors that could cause these variations, please consult “Forward–Looking Statements” at beginning of this presentation. Nothing in this presentation should be regarded as a representation by any person that these goals/targets will be achieved, or that these goals/targets should act as guidance, and the Company undertakes no duty to update its goals/targets. 1. Operating cash flow estimate for 2026 excludes the impact of discontinued operations. 2. Calculated pursuant to the company's credit facilities. Leverage calculation includes the Community Living business. 3. Leverage as of September 30, 2026 is calculated excluding the Community Living business, given the divestiture closed on March 30, 2026. De-leveraging driven by operational performance and capital allocation De-leveraging Update and Capital Allocation Priorities ~5.9x 2.99x 1.79x ~2.5x or below December 31, 2023 December 31, 2024 December 31, 2025 September 30, 2026 Long-Term Target 4.16x Long-Term Leverage Ratio Target Pre IPO / Post-Equity and Debt Transactions Leverage Ratio(2) Current Leverage(3) (2) (2) (2) (3)
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Appendix
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29 79 145 38 154 188 141 198 63 213 133 18 200 200 200 143 143 143 70 184 218 13 Historical Pharmacy Solutions Financials1 Q1’24 Q2’24 Q3’24 Q4’24 FY24 Q1’25 Q2’25 Q3’25 Q4’25 FY25 Q1’26 Q2’26 Q3’26 ($ in millions) Revenue 1,977 2,114 2,266 2,397 8,754 2,532 2,790 2,967 3,157 11,446 3,171 3,407 3,732 y/y growth 34.8% 32.4% 35.4% 34.3% 34.2% 28.1% 32.0% 31.0% 31.7% 30.7% 25.2% 22.1% 25.8% Gross Profit 170 183 189 205 746 204 234 246 255 938 301 298 316 y/y growth 6.2% 16.1% 15.5% 19.7% 14.5% 20.0% 27.9% 30.3% 24.7% 25.8% 47.5% 27.6% 28.6% Segment EBITDA 88 94 99 113 395 116 125 141 162 544 169 180 202 y/y growth 7.1% 18.7% 15.2% 21.7% 15.8% 31.2% 32.0% 42.2% 43.6% 37.7% 46.1% 44.4% 43.3% Key Metrics Q1’24 Q2’24 Q3’24 Q4’24 FY24 Q1’25 Q2’25 Q3’25 Q4’25 FY25 Q1’26 Q2’26 Q3’26 Total Prescriptions dispensed (thousands) 9,854 10,120 10,874 10,967 41,817 10,877 10,852 10,793 10,845 43,367 10,730 10,844 10,950 y/y growth 9.2% 9.1% 14.5% 14.4% 11.8% 10.4% 7.2% (0.7%) (1.1%) 3.7% (1.4%) (0.1%) 1.5% Revenue per script ($) 200.62 208.94 208.35 218.56 209.35 232.79 257.11 274.89 291.07 263.93 295.56 314.20 340.86 y/y growth 23.5% 21.3% 18.3% 17.4% 20.0% 16.0% 23.1% 31.9% 33.2% 26.1% 27.0% 22.2% 24.0% Gross Profit per script ($) 17.24 18.06 17.34 18.65 17.83 18.75 21.54 22.76 23.52 21.64 28.03 27.50 28.86 y/y growth (2.8%) 6.4% 0.9% 4.7% 2.3% 8.8% 19.3% 31.3% 26.1% 21.4% 49.5% 27.7% 26.8% Historical Pharmacy Solutions Financials Historical Pharmacy Solutions Business Metrics Note: Segment EBITDA is a non-GAAP metric. See Slide 16 for a reconciliation of Segment EBITDA to net income from continuing operations. Note: Gross profit per script metric growth rates in the second quarter of 2024 and for the full year 2024 exclude a certain Quality Incentive Payment of approximately $30 million in the second quarter of 2023. 1) Tables may not cross foot due to rounding.
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29 79 145 38 154 188 141 198 63 213 133 18 200 200 200 143 143 143 70 184 218 14 Historical Provider Services Financials, excluding Community Living1 Revenue Q1’24 Q2’24 Q3’24 Q4’24 FY24 Q1’25 Q2’25 Q3’25 Q4’25 FY25 Q1’26 Q2’26 Q3’26 ($ in millions) Home Health Care 148 158 168 182 656 179 185 189 218 770 267 279 288 Rehab Care 67 70 70 70 276 70 73 76 74 292 74 81 82 Personal Care 94 96 97 98 386 98 100 102 102 402 102 107 111 Total Provider Revenue 309 324 336 350 1,318 346 358 367 394 1,465 442 466 481 Total Provider Segment EBITDA 47 51 52 56 205 51 56 61 64 233 66 75 79 Key Business Metrics Q1’24 Q2’24 Q3’24 Q4’24 FY24 Q1’25 Q2’25 Q3’25 Q4’25 FY25 Q1’26 Q2’26 Q3’26 Home Health Care average daily census 27,093 28,280 28,678 30,084 28,538 30,384 30,276 29,980 34,980 31,414 46,527 46,903 47,256 Rehab Care persons served 6,546 6,728 6,543 6,479 6,573 6,555 6,928 6,932 6,976 6,849 7,158 7,300 7,574 Personal Care persons served 15,798 15,932 15,910 15,874 15,879 15,863 16,138 16,134 16,175 16,079 16,079 16,357 16,320 Historical Provider Services Financials Historical Provider Services Business Metrics Note: Segment EBITDA is a non-GAAP metric. See Slide 16 for a reconciliation of Segment EBITDA to net income from continuing operations Note: Effective July 1, 2026, the Company realigned its Rehab in Motion business from the Rehab Care sub-segment to the Home Health Care sub-segment to reflect how the business is managed. Prior period sub-segment information has been recast to conform to the current presentation. The change did not affect consolidated company or segment results. The impact on prior periods was not material. 1) Tables may not foot or cross foot due to rounding.
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No Image 29 79 145 38 154 188 141 198 63 213 133 18 200 200 200 143 143 143 70 184 218 15 Payor Mix For the Three Months Ended September 30, 2026 Commercial insurance Medicaid Medicare Part A Medicare Part B Medicare Part C Medicare Part D Private & other Total Specialty and Infusion Pharmacy 25.8 % 7.5 % — 0.4 % 16.8 % 24.0 % 1.0 % 75.5 % Home and Community Pharmacy 2.3 % 1.4 % 3.2 % — 0.0 % 5.6 % 0.6 % 13.1 % Pharmacy Solutions 28.1 % 8.9 % 3.2 % 0.4 % 16.8 % 29.6 % 1.6 % 88.6 % Home Health Care 0.5 % 0.3 % 4.4 % 0.1 % 1.5 % — 0.1 % 6.9 % Rehab Care 0.9 % 0.6 % — 0.0 % 0.1 % — 0.3 % 1.9 % Personal Care 0.1 % 1.6 % — — — — 0.9 % 2.6 % Provider Services 1.5 % 2.5 % 4.4 % 0.1 % 1.6 % — 1.3 % 11.4 % Consolidated BrightSpring 29.6% 11.4% 7.6% 0.5% 18.4% 29.6% 2.9% 100.0% For the Three Months Ended September 30, 2025 Commercial insurance Medicaid Medicare Part A Medicare Part B Medicare Part C Medicare Part D Private & other Total Specialty and Infusion Pharmacy 21.8 % 6.8 % — 0.6 % 17.8 % 23.5 % 0.8 % 71.3 % Home and Community Pharmacy 2.7 % 1.8 % 4.3 % — 0.0 % 8.2 % 0.7 % 17.7 % Pharmacy Solutions 24.5 % 8.6 % 4.3 % 0.6 % 17.8 % 31.7 % 1.5 % 89.0 % Home Health Care 0.3 % 0.3 % 3.8 % 0.0 % 0.9 % — 0.3 % 5.6 % Rehab Care 1.1 % 1.0 % — 0.1 % 0.0 % — 0.1 % 2.3 % Personal Care 0.1 % 2.5 % — — — — 0.5 % 3.1 % Provider Services 1.5 % 3.8 % 3.8 % 0.1 % 0.9 % — 0.9 % 11.0 % Consolidated BrightSpring 26.0% 12.4% 8.1% 0.7% 18.7% 31.7% 2.4% 100.0%
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No Image 29 79 145 38 154 188 141 198 63 213 133 18 200 200 200 143 143 143 70 184 218 16 Non-GAAP Reconciliations For the Three Months Ended For the Nine Months Ended ($ in thousands) September 30, 2025 September 30, 2026 September 30, 2025 September 30, 2026 Net Income from Continuing Operations $ 37,488 $ 100,802 $ 55,245 $ 261,689 Segment Depreciation and Amortization 33,791 30,794 102,275 97,367 Expenses Not Allocated at Segment Level: Selling, General, and Administrative Expenses 73,060 82,080 239,047 239,681 Depreciation and Amortization 6,962 7,578 21,149 21,522 Interest Expense, Net 38,235 31,038 118,776 106,532 Income Tax Expense 12,120 28,640 13,118 44,099 Total Segment EBITDA $ 201,656 $ 280,932 $ 549,610 $ 770,890 Pharmacy Solutions Segment EBITDA $ 140,987 $ 201,980 $ 381,405 $ 551,097 Pharmacy Solutions Segment Revenue 2,966,966 3,732,428 8,289,238 10,310,950 Pharmacy Solutions Segment EBITDA Margin 4.8% 5.4% 4.6% 5.3% Provider Services Segment EBITDA 60,669 78,952 168,205 219,793 Provider Services Segment Revenue $ 367,140 $ 480,806 $ 1,070,695 $ 1,389,145 Provider Services Segment EBITDA Margin 16.5% 16.4% 15.7% 15.8%
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No Image 29 79 145 38 154 188 141 198 63 213 133 18 200 200 200 143 143 143 70 184 218 17 Non-GAAP Reconciliations (a) Represents non-cash share-based compensation to certain members of our management and full-time employees. (b) Represents transaction costs incurred in connection with planned, completed, or terminated acquisitions, which include investment banking fees, legal diligence and related documentation costs, finance and accounting diligence and documentation; costs associated with the integration of acquisitions, including any facility consolidation, integration travel, or severance; and costs associated with other planned, completed, or terminated non-routine transactions. (c) Represents costs associated with restructuring-related activities, including closure, and related license impairment, and severance expenses associated with certain enterprise-wide or significant business line cost-savings measures. For the Three Months Ended For the Nine Months Ended ($ in thousands) September 30, 2025 September 30, 2026 September 30, 2025 September 30, 2026 Net Income from Continuing Operations $ 37,488 $ 100,802 $ 55,245 $ 261,689 Income Tax Expense 12,120 28,640 13,118 44,099 Interest Expense, net 38,235 31,038 118,776 106,532 Depreciation and Amortization 40,753 38,372 123,424 118,889 EBITDA $ 128,596 $ 198,852 $ 310,563 $ 531,209 Non-Cash Share-Based Compensation(a) 14,173 17,871 46,155 50,475 Acquisition, Integration, and Transaction-Related Costs (b) 5,462 2,855 34,811 15,585 Restructuring and Divestiture-Related and Other Costs (c) 12,212 8,181 42,493 25,756 Total Adjustments $ 31,847 $ 28,907 $ 123,459 $ 91,816 Adjusted EBITDA $ 160,443 $ 227,759 $ 434,022 $ 623,025 Revenue $ 3,334,106 $ 4,213,234 $ 9,359,933 $ 11,700,095 Adjusted EBITDA Margin 4.8% 5.4% 4.6% 5.3%
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No Image 29 79 145 38 154 188 141 198 63 213 133 18 200 200 200 143 143 143 70 184 218 18 Basic and Diluted Weighted-Average Shares Outstanding Calculation utilized in calculating Diluted EPS to Adjusted EPS For the Three Months Ended (in thousands) Sept 30, 2025 Dec 31, 2025 Mar 31, 2026 Jun 30, 2026 Sept 30, 2026 Publicly owned shares (excluding KKR) 103,138 130,026 151,154 170,004 171,771 Shares owned by KKR 77,096 61,942 41,824 26,830 26,830 Remaining TEU minimum settlement of 3.2733 shares per unit 23,253 11,734 11,734 9,208 8,421 Weighted-average shares outstanding – basic 203,487 203,702 204,712 206,042 207,022 Effect of dilutive securities: Stock options 7,835 7,126 9,416 8,947 7,950 RSUs 6,660 7,589 7,193 5,287 5,254 TEUs - - - - - Weighted-average shares outstanding – diluted 217,982 218,417 221,321 220,276 220,226