#1Akumin Inc. Corporate Presentation December 2021 Riadh Zine, Chairman & Co-CEO Rhonda Longmore-Grund, President & Co-CEO Bill Larkin, Chief Financial Officer AKUMIN#2Disclaimer and Disclosure Forward-Looking Statements AKUMIN This presentation may contain forward-looking information or forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and/or applicable Canadian securities legislation (collectively, "forward-looking statements"). Forward-looking statements may include statements regarding, among other things, our prospects, business outlook, operations and strategy; service areas; competition; changes in laws and regulations and the impact of such changes on us; our estimates for future performance and operating results, including future revenues, cash flows and capital requirements. In some cases, forward-looking statements can be identified by the used of forward-looking terminology like "could," "may," "expects," "anticipates," "believes," "intends," "estimates," and other similar words. Forward-looking statements are necessarily based upon a number of internal expectations, estimates, projections, assumptions, and beliefs that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, and other uncertainties and contingencies, some of which are beyond the Company's control. Forward-looking statements involved known and unknown risks, uncertainties, and other factors, including, but not limited to, the risks described in greater detail in the "Risk Factors" section of Akumin's Management's Discussion and Analysis for the quarter ended September 30, 2021 dated December 14, 2021, which is available at www.sedar.com and www.sec.gov. In light of these risks and uncertainties, there can be no assurance that the forward-looking statements contained in this presentation will in fact be realized, and actual results, performance or achievements could differ materially. Unless otherwise specified, all forward-looking statements are given as of the date of Akumin's last reported fiscal quarter and based on the opinions and estimates of management as at such date. Akumin and its affiliates, employees, representatives and advisors expressly disclaim any and all liability based, in whole or in part, on such forward-looking statements, and further disclaim any intention or obligation to update or revise such forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to put undue reliance on these forward-looking statements. COVID-19 In addition and without limiting the foregoing, Akumin notes that the COVID-19 pandemic has caused significant volatility and uncertainty, which could result in a prolonged economic downturn that has disrupted and is expected to continue to disrupt Akumin's business. Akumin cannot reasonably estimate the ultimate length or severity of this pandemic, nor the impact on its future procedure volumes and revenues. The extent to which the COVID-19 pandemic ultimately impacts Akumin's business, financial condition, results of operations, cash flows, and liquidity may differ from management's current estimates due to inherent uncertainties regarding the duration and further spread of the outbreak, its severity, actions taken to contain the virus or treat its impact, and how quickly and to what extent normal economic and operating conditions can resume. Non-GAAP Measures This presentation refers to certain non-GAAP measures. These non-GAAP measures are not recognized measures under United States generally accepted accounting principles ("GAAP") and do not have a standardized meaning prescribed by GAAP. There is unlikely to be comparable or similar measures presented by other companies. Rather, these non- GAAP measures are provided as additional information to complement those GAAP measures by providing further understanding of our results of operations from management's perspective. Accordingly, these non-GAAP measures should not be considered in isolation nor as a substitute for analysis of our financial information reported under GAAP. We use non-GAAP financial measures, including "EBITDA", "Adjusted EBITDA", "Adjusted EBITDA Margin", "Free Cash Flow" and "Pro forma" These non-GAAP measures are used to provide readers with supplemental measures of our operating performance and thus highlight trends in our core business that may not otherwise be apparent when relying solely on GAAP measures. We believe the use of these non-GAAP measures, along with GAAP financial measures, enhances the reader's understanding of our operating results and is useful to us and to investors in comparing performance with competitors, estimating enterprise value, and making investment decisions. Our management regularly communicates Adjusted EBITDA and their interpretation of such results to our board of directors. We also believe that securities analysts, investors, and other interested parties frequently use non-GAAP measures in the evaluation of issuers. Our management uses non-GAAP measures to facilitate operating performance comparisons from period to period, to prepare annual operating budgets and forecasts and to determine components of management compensation. Except as otherwise specified in this presentation, definitions and reconciliations of non-GAAP measures to the relevant reported measures can be found in our Management's Discussion and Analysis dated September 30, 2021 (our "Interim MD&A") available in our public disclosure at www.sedar.com and www.sec.gov. When we use "Pro forma" in this presentation, unless otherwise noted means trailing twelve for September 30th, 2021 for Akumin and includes Alliance as though acquired at the beginning of the trailing twelve month period. 2#3Today's Presenters AKUMIN Riadh Zine Chairman of the Board and Co-CEO • • Akumin's CEO since it started in 2014, now serves as Chairman and Co-CEO Previously Managing Director in Global Investment Banking at RBC Capital Markets, providing strategic and financial advice to many corporations and private equity firms 13+ years of experience executing public or private equity and debt financing, as well as mergers and acquisitions for a wide range of companies in the consumer, retail, healthcare, transportation and industrial sectors Began career at Royal Bank of Canada in strategic projects including mergers and integrations Master of Science in financial engineering from University of Montreal (Ecole des Hautes Études Commerciales) Rhonda Longmore-Grund President and Co-CEO Previously President and Chief Executive Officer of Alliance HealthCare Services from 2018 to 2021. Joined Alliance in 2016 as Executive Vice President and CFO Significant international and capital market experience; successfully led organizations through strategic expansion and growth. Prior to Alliance, SVP and CFO for Printronix, global provider of industrial print technology solutions serving Fortune 500 customers in 100 countries Served on the executive teams of Ingram Micro, Inc., Exult, Inc., Velocium (now owned by Northrop Grumman) and Digital Equipment Corporation (DEC) Master of Arts in Law and Diplomacy focusing and International Business Relations from The Fletcher School of Law and Diplomacy at Tufts University. Bill Larkin Chief Financial Officer Previously Executive Vice President & Chief Financial Officer of Alliance HealthCare Services, having joined the companyin 2019. Experience spans a diverse set of corporate environments ranging from entrepreneurial startups, high growth mid-caps and mature multi-billion enterprises. Prior to Alliance, he served as Chief Financial Officer of both public and privately held companies at Fuel Systems Solutions, Westport Innovations and South West Dealer Services Inc. In each case, the companies were experiencing significant growth, expansion and change in operating complexities both in the U.S. and internationally. CPA with Deloitte & Touche, veteran of the US Army; B.S. in Accounting from the University of Southern California 3#4Akumin At a Glance #2 overall radiology services provider: ~2 million procedures/yea in 46 states • #1 provider of PET/CT servic #2 provider of MRI services #2 fixed site clinic locations #1 mobile radiology provide #2 provider of radiation therapy services to U.S. hospitals treating more than 10,000 cancer patients p. year Serving ~1,000 hospital relationships across the nation ~$730M of Revenue¹ between Radiology and Oncology AK OR AKUMIN WA NH VT ME MT ND MN MA WI NY SD RI WY MI CT NJ IA NE OH DE NV UT CO KS MO TN OK AZ AR NM AL GA MS LA FL VA MD NC Radiology Locations Radiology & Oncology Locations Oncology Locations (Only) 1 Revenue based on Pro forma trailing twelve months ("TTM") Sept 2021 excluding the recent sales of Alliance Interventional (executed in the first half of 2021) and Alliance Oncology of Arizona (executed Q4 2021). 4#5Long-Standing Health System Relationships AKUMIN The Nation's Largest and Leading Health Systems . . 30+ year history of successful hospital partnerships ~1,000 hospital relationships within Radiology and Oncology networks Serving 25 of the top 30 hospitals in the nation Deep partnerships with market leaders in their respective geographies • Exclusive, long-term contracts provide continuity in cash flows Single Segment Radiology & Oncology Beth Israel Deaconess Medical Center CA Charleston Area MC Medical Center DANA-FARBER/BRIGHAM AND WOMEN'S CANCER CENTER BOSF SAINT FRANCIS MEDICAL CENTER CommonSpint Ascension Banner Health® 000 Geisinger DukeHealth MAYO CLINIC Henry Ford HEALTH SYSTEM Steward t MUSC Health Medical University of South Carolina CHS Community TOWER HEALTH Aubounding Houlth T Health Systems Cleveland Clinic HCA+ Healthcare HARVARD MEDICAL SCHOOL TEACHING HOSPITAL HH HUNTSVILLE HOSPITAL LIFE POINT HEALTH RUSH UNIVERSITY MEDICAL CENTER Seton Healthcare Family Ochsner Health Tenet Health UL Hospital Yale NewHaven Health 5#6Flexible Approach Focused on Fixed Site Development & Growth Comprehensive solutions delivered through a flexible approach to partnership Capability to create affiliations tailored to the needs and goals of the partner(s) and community Solutions and structures developed collaboratively in context of: Competition Referral source dynamics Payor backdrop Provider environment Experience in executing countless partnership structures with health systems • Complete Outsourcing • Management Services • Economic Partnerships Joint Ventures Mobile On-Campus Fixed Sites Outpatient AKUMIN Fixed Sites . Shared platform, part- • time, daily, weekly Within or adjacent to hospital • Convenient location • • Long term contracts Independent or multi- partner . On/off campus and interim solutions . Single & Multi-modality Partial or full service line offering • Integrated services • . Long-term, often in JVs Outpatient focused • • Entirely outpatient Outpatient Networks Market or regional leadership strategy Long-term, multi- partner integrated care Majority outpatient • Outpatient focused • . Single or multi-modality Fixed Site Count - As Reported 35 204 129 96 74 39 2017 2018 2019 2020 YTD 2021 ■Radiology Oncology Oncology sites exclude divested Alliance Oncology of Arizona (Q4 2021) 6#7Outpatient-Focused Platform AKUMIN Hospital Mix of Outpatient (% of Revenue) ~95% of the company's overall revenue is derived from outpatient procedures 50% of revenue is received via third party and government payers, for which we bill outpatient services 50% of revenue is received via health systems and hospitals, of which virtually (% of Revenue) Overall Payor Mix Inpatient Revenue Medicare/Medicaid 10% 3% all is for outpatient services Third- Outpatient Revenue Party Payors 40% Hospital 50% 97% Pro forma TTM Sept 2021 for Radiology and Oncology 7#8Diverse Service Lines and Modalities AKUMIN ⚫ Continued diversification of revenue between Radiology and Oncology divisions Akumin provides a full suite of radiology and oncology services with a focus on high- growth and high-value modalities Service Lines (% of Revenue) 20% Radiology Procedure Mix (% of Revenue) 19% 57% 23% 80% ■ Radiology ■ Oncology ■ MRI PET/CT Other Excludes Interventional segment which was divested in first half of 2021; Pro Forma; TTM as of Sept 30, 2021. 8#9A Powerhouse in Radiology AKUMIN Akumin is the nation's #2 overall radiology company, with more than 2 million patient visits per year Total Radiology Volume/Year (Pro Forma) 2,134,415 2,006,759 Akumin is the nation's #2 MRI provider A critical diagnostic tool for complex health conditions and surgical planning; leads to significant downstream revenue for hospitals Akumin is the nation's #1 PET/CT provider PET/CT is one of the fastest growing modalities in cancer care, and increasing in cardiology and neurology Akumin is the largest employer of PET/CT technologists in the US FY2019 1,916,412 FY2020 Q3'21 TTM Modality Volume - Q3'21 TTM (Pro Forma) Other Modalities 1,150,100 MRI 857,892 PET/CT 126,423 9#10The Nation's #2 Partner in Radiation Therapy Services with Hospitals AKUMIN ~2/3 of cancer patients receive radiation therapy as part of their cancer treatment Akumin specializes in radiation therapy modalities and related services treating some of the most common primary cancers (breast, lung, prostate) as well as metastatic disease More than 10,000 patients treated annually • Akumin excels in Joint Venture partnerships with hospitals and physicians and in delivering this complex clinical service line • 22 Joint Ventures • 35 Sites of Care • Two Interim Radiation Therapy Systems Patient starts recovered to pre-pandemic levels 10,459 Total Patient Starts/Year (Pro Forma) 10,161 10,564 $12,289 Revenue/Start Per Year (Pro Forma) $12,489 $12,513 FY2019 FY2020 Q3'21 TTM FY2019 FY2020 Q3'21 TTM 10#11Uniquely Positioned as a Hospital Partner of Choice Patient Care Continues to Coalesce Around the Hospital Network 91% of final-year medical residents report that they prefer to be an employee of a hospital Significant growth in hospital owned physician practices Hospital-Owned Physician Practices AKUMIN As Hospitals Shift to Outpatient Services, Akumin is Their Most Experienced Partner Hospital outpatient revenues grew at a higher compounded annual rate vs. inpatient (9% vs 6%), 2011-18 Patients prefer outpatient health services Average Hospital Revenue ~35,000 ~80,000 2012 2018 Outpatient Inpatient 48% 52% AKUMIN ADVANTAGE 30 years of expertise partnering with hospitals; more than any other solutions provider with ~1,000 currently ✓ Industry leading physician outreach - in and out of hospital environments Source: Merritt Hawkins, Deloitte Center for Health Solutions, Center for Medicare & Medicaid Services, Black Book Market Research ~95% of Akumin's overall revenue tied to outpatient services delivery Full solutions continuum covers broad customer needs as outpatient transformation continues ✓ National shared services provide customers with a hospital-centric outpatient platform, efficiencies and resources ✓ 50% of revenue directly contracted with hospitals 11#12Expert Solutions Provider As Radiology Outpatient Migration Accelerates AKUMIN® Positive forces on radiology volume growth Population change, consumerism, disease prevalence, technology; dampened by continued payer actions Outpatient migration continues for hospitals, who need better solutions • Disproportionate share of growth for hospitals in coming years will be outpatient, accelerated by COVID Hospitals outsource radiology services; desire to recapture lost revenues to independent players Purchasers continue to drive the shift: site-neutral payment policies, steerage initiatives, ACOS Operational efficiency is an industry imperative to mitigate staffing shortages, pandemic surges, margin pressures Virtual cockpits, process automation, technology platforms, artificial intelligence Hospital Imperative Deploy a full suite of services to compete in an outpatient-focused marketplace 40% of radiology services overall are performed in independent clinics (at more than 6,000 IDTFs) Patients prefer outpatient settings Hospitals highly motivated to capture those volumes and revenues Hospital outpatient departments (HOPD) expected to continue rapid patient growth: 19% by 2029 Source: Sg2, McKinsey, Advisory Board, ASCO, ASTRO, GE Healthcare, Grandview Research 12 12#13Strategic Partner in a Cancer Care Market Demanding Efficiency and Collaboration COVID-19 impacts are ongoing and evolving Many cancer screening monthly volumes have returned to pre-pandemic levels Still deficits for those who skipped screenings in 2020/2021 Per a recent survey, Radiation Oncologists: 66% are seeing more advanced- stage cancers 73% are seeing more advanced- stage cancers AKUMIN Cancer incidence, overall, continues to grow • Number of newly diagnosed cancers per year is projected to double in the next two decades Overall Five-Year Growth: Cancers We Treat 13.2% 11.2% 10.1% 11% 8.8% 7.6% 7.3% 6.6% Brain, CNS Breast Colon, Gl Gynecologic Head and Lung Neck Melanoma Prostate, Urologic Purchasers focus: cost reductions in cancer care Commercial plans focused on utilization, site-of-care shifts (OP), price transparency and prior authorizations Employers utilizing second-opinion services and narrowed networks, as cancer care makes up 12% of employers' total medical spend CMS is reducing payments via value-based care and drug spend controls - and receiving pushback Radiology and technological advances continue to impact oncology market Radiology and radiation oncology are increasingly integrated partners in diagnoses and treatment Precision and accuracy in radiation therapy are continuing to increase due to technological advancements Exciting developments are ahead: theragnostics, artificial intelligence, etc. Source: Advisory Board ASCO, ASTRO, GE Healthcare, Grandview Research 13#14Significant Market Opportunity With Favorable Industry Trends Radiology ~$16-17 billion Estimated Market Size Radiology is essential to healthcare delivery and utilized in virtually all clinical specialties, from primary care through orthopedics, surgery, neurology, and oncology Oncology ~$3 billion AKUMIN Estimated Radiation Therapy Market Size Radiation therapy is essential to cancer care delivery; 50-60% of all cancer patients receive radiation therapy at some point in their treatment Successfully has Managing Payer Pressures and Pandemic Engage Discerning, & Price-Sensitive Patients Seize Accelerated Demographics Economics Outpatient Migration Market Adapting to Telehealth, Al and Cyber- security Technology Navigate Complex Pandemic Response Regulations, Gov/ Regulatory Cultural Healthcare Marketplace Needs Radiology & Oncology Partners to Solve Challenges, Seize Opportunity Source: IBIS World, Wall Street Research, Technavio, Journal of Oncology Practice, Grand View Research, ASCO Create an engaging workplace to attract & retain talent 14#15Growth Strategy: Driving Shareholder Value Deliver Enterprise Organic Growth Market, Partner & Company Health Customer Retention Same-Store Growth Margin Expansion via Integration AKUMIN • • Drive New Growth in Radiology Market Leadership & Performance PET/CT Expansion Continued Growth in Long- Term Hospital Relationships • Geographic Density • Drive New Growth in Oncology Deepen Cancer Care Value Proposition New Partnership Development Interim Radiation Therapy Expansion Ancillary Services Development Enterprise Transformation Strategic Shift & Market Differentiation Shift Independent Facilities to Hospital Affiliated Hospital Share of Wallet & Services Expansion Deploy Patient Journey Platform Strengthen Core Business Drive New Growth by Expanding Business Boundaries Create A Transformed Future 15#16Enabling Value Creation Via Operational Platform Transformation 回回 AKUMIN Integrated Patient Journey Platform We are building innovative standardization in Patient journey Clinical workflow Data Focused on creating a scalable service delivery platform Because delivering exceptional patient engagement and experiences is the foundation of our value to partners ced Informatics iness Intelligen Patient Experience Standardized Clinical Workflow TIT 16#17Integration Cost Synergy Potential Integration Cost Synergy Potential AKUMIN The $23 million in estimated cost synergies are related to phase 1 and equipment maintenance overhaul in phase 2. More upside in cost savings expected to arise from a number of initiatives as outlined in both phase 2 and phase 3. 01 . 02 Phase 1 (6 months) Integration of corporate functions • • Integration of field and • back-office functions . Consolidation of purchasing power Phase 2 (6-12 months) Equipment maintenance overhaul Common IT infrastructure Leveraging new patient journey deployment 03 Phase 3 (+12 months) Further streamline radiology segment following a successful completion of Phase 1 and Phase 2 New Akumin to leverage proven internal expertise in integration, as well as third party system integrators and strategic consultants 17#18Financial Performance AKUMIN#19• Radiology Volume Trends Volume Trends - Pro Forma Same Store MRI Volume Growth: +8.5% in Q3 2021 Same Store PET/CT Volume Growth: +2.2% in Q3 2021 Same Store Total Procedures Volume Growth: +8.9% in Q3 2021 Same Store Volume Growth MRI Procedures 54.2% PET/CT Procedures 20.6% AKUMIN Total Procedures 44.3% 5.0% 7.3% 6.6% 5.0% 8.5% 2.5% 1.7% 8.9% 6.9% 2.2% 5.7% 8.9% 1.4% Q3'19 Q4'19 Q1'20 Q2'20 -3.1% Q3'20 -6.0% -8.2% Q1'21 Q2'21 Q3'21 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 -0.2% Q1'21 Q2'21 Q3'21 -1.0% Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 -5.8% -0.7% -4.9% Total Volumes 878,488 -31.8% MRI 778,467 146,077 857,892 -13.7% PET/CT -28.4% Total Procedures 2,006,759 126,423 122,969 1,916,412 2,134,415 FY2019 FY2020 Q3'21 TTM FY2019 FY2020 Q3'21 TTM FY2019 FY2020 Q3'21 TTM 19#20Oncology Volume Trends - Pro Forma Same Store Patient Start Volume Growth: 10.1% in Q3 2021 Patient Start Volume has returned to pre-Covid (2019) levels ⚫ Revenue/Patient Start is higher than pre-Covid (2019) levels Same Store Patient Start Volume Growth AKUMIN 1.9% 10.8% 10.1% -1.2% -5.1% -4.7% -3.2% Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 -6.7% Q1'21 Q2'21 Q3'21 Total - Patient Starts Volume¹ 10,459 10,161 10,564 Total - Revenue Per Patient Start¹ $12,289 $12,513 $12,489 FY2019 FY2020 Q3'21 TTM FY2019 FY2020 Q3'21 TTM 1 Stats include Alliance Oncology of Arizona, divested in Q4 2021 20#21Financial Performance Trend Statutory (As Reported) and Pro Forma Revenue¹ ($M) $790.4 Pro Forma ■As Reported $741.8 $763.3 $308.5 $221.0 $245.6 FY2019 Maintenance CAPEX³ ($M) FY2020 Q3'21 TTM AKUMIN Adjusted EBITDA² ($M) ■Pro Forma ■As Reported $159.2 $167.9 $173.4 $52.9 $42.1 $30.1 FY2019 FY2020 Q3'21 TTM Growth CAPEX³ ■Growth (Cons) Pro Forma Growth (Cons) As Reported ■Maint (Cons) Pro Forma ■Maint (Cons) As Reported ($M) $28.9 $17.2 $22.6 $21.0 $5.9 $5.3 FY2019 FY2020 $8.5 Q3'21 TTM $0.0 FY2019 $15.3 $0.0 FY2020 $8.1 $2.7 Q3'21 TTM 1 Pro forma includes Alliance Oncology of Arizona (divested Q4 2021) which contributed $13.2M of Revenue TTM and Interventional Division (divested first half 2021) which contributed $18.4M TTM. Both segments were divested. 2 Pro forma includes Alliance Oncology of Arizona (divested Q4 2021) which contributed ($3.0M) of Adjusted EBITDA TTM and Interventional Division (divested first half 2021) which contributed $1.1M Adjusted EBITDA TTM. Both segments were divested. Adjusted EBITDA is not a standardized financial measure under GAAP and might not be comparable to similar financial measures disclosed by other issuers. See "Non-GAAP Measures" and "How We Assess the Performance of Our Business" in our Interim MD&A. See page 29 for definition of Adjusted EBITDA. 3 Capex may be financed with cash, capital leases, change in deposits and AP. 21#22Segment Financial Performance Statutory & Pro Forma Q3 2021 Q3 2021 YTD AKUMIN ($ in M) Revenue RAD ONC Corp Total ($in M) RAD $ 95.0 $13.2 $ - $ 108.2 Revenue % vs prior year 50.3% n/m 71.1% %vs prior year Adjusted EBITDA % vs prior year $ 16.6 $ 4.9 $ (3.5) $ 18.0 Adjusted EBITDA Margin 17.4% 37.2% 35.9% n/m 47.4% Adjusted EBITDA %vs prior year 16.6% Corp - Total $ 241.6 35.2% $228.5 $ 13.2 $ · 27.8% n/m $ 42.5 $ 4.9 $ (8.0) $ 39.4 48.8% n/m Adjusted EBITDA Margin 18.6% 37.2% 37.9% 16.3% ONC Q3 2021 Pro Forma¹ Q3 2021 YTD Pro Forma¹ ($ in M) RAD ONC Corp Total Revenue $150.5 $39.5 $ - $ 190.0 ($in M) Revenue RAD ONC $449.6 $111.1 $ % vs prior year 4.4% 9.6% Adjusted EBITDA % vs prior year Adjusted EBITDA Margin 19.2% 36.1% -22.5% 0.7% 5.5% % vs prior year 10.4% 6.0% Corp Total - $ 560.7 9.4% $ 29.0 $14.2 $ (5.7) $ 37.5 -12.7% 19.7% Adjusted EBITDA % vs prior year $ 97.1 $ 37.5 $(16.5) $ 118.1 6.3% -2.3% Adjusted EBITDA Margin 21.6% 33.8% 4.8% 21.1% ¹Pro Forma segment results excludes Interventional segment which was divested in first half of 2021. Adjusted EBITDA and Adjusted EBITDA Margin are not standardized financial measures under GAAP and might not be comparable to similar financial measures disclosed by other issuers. See "Non-GAAP Measures" and "How We Assess the Performance of Our Business" in our Interim MD&A. 22#23Guidance & Valuation AKUMIN#242022 Guidance Full year of combined enterprise Positive same store volume across the platform Strong new customer acquisition as well as retention Revenue range $760M-$780M AKUMIN Sept 2021 TTM Revenue of $309M. Includes one month of Alliance acquisition vs twelve months in 2022 guidance. Adjusted EBITDA (1) range $155M-$170M Sept 2021 TTM Adjusted EBITDA of $52.9M. Includes one month of Alliance acquisition vs twelve months in 2022 guidance. Total CAPEX spend: ~$26M Maintenance, ~$59M Growth ~$26M for maintenance of fleet and customer renewals ~$59M for growth (new customers, sites) $10M to be financed with cash; $75M to be financed. (1) Adjusted EBITDA is not a standardized financial measure under GAAP and might not be comparable to similar financial measures disclosed by other issuers. See "Non-GAAP Measures" and "How We Assess the Performance of Our Business" in our Interim MD&A. See appendices to this presentation for comparable historical information. 24#25Free Cash Flow Generation AKUMIN The company expects to generate free cash flows of ~$55mm as per the following assumptions: Mid range of the 2022 . guidance • Full deployment of 2022 Growth CAPEX of $59M and Maintenance Capex of $26mm After integration synergies and run-rate of planned 2022 growth investments Stonepeak interest payment are PIK's during 2022 $3.7M LTM Sept 2021 represents only one month of Alliance, vs 2022 Midpoint which includes a full twelve months period for the combined entities. Adjusted EBITDA (1) $ 2022 2022 LTM Sep 30 2021 Midpoint Runrate 42.1 $ 160.6 $ 186.8 Less: Cash interest payments (20.0) (67.5) (67.5) Capital lease payments (6.1) (32.4) (32.4) Cash Capex (7.5) (10.0) (10.0) Cash M Distributions (4.8) (22.0) (22.0) (2) Free Cash Flow $ 3.7 $ 28.8 $ 28.8 $ 55.0 (1) Run rate Adjusted EBITDA includes 2022 mid point guidance, run-rate adjustments for 2022 business development investments plus targeted integration synergies. See Appendix 1 for reconciliation to net income. (2) Free Cash Flow is not a standardized financial measure under GAAP and might not be comparable to similar financial measures disclosed by other issuers. See the appendices to this presentation for a definition of such term and for comparable historical information. (2) 25#26Capital Structure - A Solid Foundation for Growth AKUMIN Strong Alignment of Interests Management and insiders, including Stonepeak, own approximately 40% resulting in strong alignment of interests with all stakeholders Akumin's capital structure is comprised of a diverse set of capital providers including traditional banks, bondholders and Stonepeak as debt and equity stakeholders This diverse investor base provides a solid foundation as the company executes on its integration, planned growth and transformational initiatives (US$ millions, unless noted) Share Price ($) Total Shares Outstanding (mm) Equity Value Total Secured Debt Less: Cash Net Secured Debt Adj. EBITDA (1) Net Secured Debt / Adj. EBITDA EA 1.70 89.0 151.3 SA $ 903.2 $ (55.9) SA S EA 847.3 160.6 5.3x Equity Value Plus: $ 151.3 Net Secured Debt Stonepeak Debt SSSS $ 847.3 $ 357.0 211.0 1,566.6 9.8x Minority Interest Enterprise Value EV/Adj. EBITDA Based on mid-point of 2022 guidance pre-synergies and excluding run-rate impact of 2022 planned growth initiatives 26#27Strong Partners Well-Aligned With Shareholders The support of Stonepeak was integral to the successful completion of the Alliance acquisition and, through its subordinated notes, equity position and warrant holdings, is well-aligned with shareholders as key beneficiaries of Akumin's future growth. STONE PEAK AKUMIN Stonepeak at a glance Leading alternative investment firm with over $39 billion of assets under management (as of June 30, 2021). Sponsors investment vehicle focused on private equity and credit Provides capital, operational support, and committed partnership to sustainably grow investments in target sectors 30 portfolio companies Headquartered in New York; offices in Austin, TX and Hong Kong. CASPER ww CRUDE COR TO RAIL Golar Power RYX MIDSTREAM SERVICES °1010 Lineage Digital Edge°C Dominion MIDSTREAM PARTNERS MPLX ENERGY LOGISTICS. verticalbridge PEAK ENERGY *NorthStar eunetworks RENEWABLE POWER S SANCHEZ MIDSTREAM PARTNERS 27#28Riadh Zine, Chairman & Co-CEO Rhonda Longmore-Grund, President & Co-CEO Bill Larkin, Chief Financial Officer Thank you! AKUMIN#29Appendix 1: Net Income to Adjusted EBITDA Reconciliation AKUMIN Three months ended September 30, (Restated- Note 4) Three months ended September 30, Nine months ended (Restated- Note 4) Nine months ended September 30, September 30, 2021 2020 2021 2020 Net income (loss) $ 1,180 $ (6,376) $ (8,182) $ (16,175) Interest expense 16,932 8,961 34,221 24,437 Income tax expense (benefit) (22,070) (473) (21,999) 498 Depreciation and amortization 11,286 4,359 20,359 13,001 EBITDA 7,328 6,471 24,399 21,761 Adjustments: Stock-based compensation 785 568 1,997 1,726 Acquisition-related costs 8,784 174 14,412 474 Settlement and related costs (recoveries) (52) 1,611 (394) 2,491 Financial instruments revaluation and related losses (gains) (50) 2,895 (3,410) (1,178) Severance, restructuring and other charges 532 532 Other losses (gains) 20 63 320 283 Deferred rent expense 621 409 1,525 3,002 Adjusted EBITDA $ 17,968 $ 12,191 $ 39,381 $ 28,559 EBITDA means net income (loss) before interest expense (net), income tax expense (benefit) and depreciation and amortization. Adjusted EBITDA❞ means EBITDA, as further adjusted for stock-based compensation, asset impairments, settlement and related costs (recoveries), financial instrument revaluation and related losses (gains), acquisition-related costs, severance and related costs, restructuring charges, other losses (gains), deferred rent expense (credit), and one-time adjustments. "Adjusted EBITDA Margin" means Adjusted EBITDA divided by the total revenue in the 29 period.#30Appendix 2 Income Statement Revenues Operating expenses: Three months ended September 30, 2021 (Restated-Note 4) Three months ended September 30, 2020 Nine months ended September 30, 2021 (Restated-Note 4) Nine months ended AKUMIN September 30, 2020 $ 108,177 $ 63,213 $ 241,636 $ 178,747 Cost of operations, excluding depreciation and amortization 91,496 51,045 204,406 152,588 Depreciation and amortization 11,286 4,359 20,359 13,001 Stock-based compensation 785 568 1,997 1,726 Operational financial instruments revaluation and other losses (gains) (68) 3,630 278 (4,482) Total operating expenses 103,499 59,602 227,040 162,833 Income from operations 4,678 3,611 14,596 15,914 Other expense (income): Interest expense 16,932 8,961 34,221 24,437 Acquisition-related costs 8,784 174 14,412 474 Settlement and related costs (recoveries) (52) 1,611 (394) 2,491 Other financial instruments revaluation and other losses (gains) (96) (286) (3,462) 4,189 Total other expense, net 25,568 10,460 44,777 31,591 Loss before income taxes (20,890) (6,849) (30,181) (15,677) Income tax expense (benefit) (22,070) (473) (21,999) 498 Net income (loss) 1,180 (6,376) (8,182) (16,175) Less: Net income attributable to noncontrolling interest 2,517 835 3,388 1,876 Net loss attributable to common shareholders $ (1,337) $ (7,211) $ (11,570) $ (18,051) Comprehensive income (loss), net of taxes: Net income (loss) 1,180 $ (6,376) $ Unrealized loss on hedging transactions, net of taxes Reclassification adjustment for losses included in net (8) (8,182) $ (8) (16,175) loss, net of taxes 7 7 Comprehensive income (loss), net of taxes 1,179 (6,376) (8,183) (16,175) Less: Comprehensive income attributable to noncontrolling interest 2,517 835 3,388 1,876 Comprehensive loss attributable to common shareholders $ (1,338) $ (7,211) $ (11,571) $ (18,051) Net loss per share attributable to common shareholders: Basic and Diluted $ (0.02) $ (0.10) $ (0.16) $ (0.26) 30 30#31Appendix 3: Balance Sheet ASSETS Current assets: Cash Accounts receivable Prepaid expenses Other current assets Total current assets Property and equipment (note 6) Operating lease right-of-use assets Goodwill (note 7) Other intangible assets (note 7) Other assets Total assets LIABILITIES AND EQUITY Current liabilities: September 30, 2021 (Restated-Note 4) December 31, 2020 $ 55,876 $ 44,396 135,208 62,259 11,815 2,996 3,232 1,435 206, 131 111,086 264,970 63,714 212,300 127,062 875,724 351,610 367,039 6,748 27,146 4,832 $ 1,953,310 $ 665,052 Accounts payable and accrued liabilities (note 8) $ 127,016 $ 34,295 Current portion of long-term debt (note 9) 13,461 406 Current portion of obligations under finance leases (note 10) 6,966 3,265 Current portion of obligations under operating leases (note 10) Earn-out liability (note 11) 24,554 9,345 4,689 Total current liabilities 171,997 52,000 Long-term debt, net of current portion (note 9) 1,167,957 389,580 Obligations under finance leases, net of current portion (note 10) 17,467 12,309 Obligations under operating leases, net of current portion (note 10) 200, 123 122,954 Other liabilities 31,275 3,039 Total liabilities 1,588,819 579,882 Shareholders' equity: Common stock (no par value; unlimited authorized number of shares; 89,026,997 and 70,178,428 shares issued and outstanding as of September 30, 2021 and December 31, 2020, respectively) 240,426 160,965 Accumulated other comprehensive loss Accumulated deficit Total shareholders' equity Noncontrolling interest Total equity Total liabilities and equity (1) (91,703) (80,133) 148,722 80,832 215,769 4,338 364,491 85,170 $ 1,953,310 $ 665,052 AKUMIN 34 31