#1Q1 2023 RESULTS Nasdaq Global Market: CCLD, CCLDP, CCLDO A leading provider of technology-enabled services and solutions that redefine the healthcare revenue cycle O CareCloud, Inc. 2023 CareCloud#2Safe Harbor Statements This presentation contains forward-looking statements within the meaning of the federal securities laws. These statements relate to anticipated future events, future results of operations or future financial performance. In some cases, you can identify forward-looking statements by terminology such as "may," "might," "will," "shall," "should," "could," "intends," "expects," "plans," "goals," "projects," "anticipates," "believes," "seeks," "estimates," "forecasts," "predicts," "possible," "potential," "target," or "continue" or the negative of these terms or other similar terms and phrases. Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Forward-looking statements in this presentation include, without limitation, statements reflecting management's expectations for future financial performance and operating expenditures, expected growth, including our ability to continue as a going concern, to raise additional capital and to succeed in our future operations, profitability and business outlook, increased sales and marketing expenses, and the expected results from the integration of our acquisitions. O Forward-looking statements are only current predictions and are subject to substantial known and unknown risks, uncertainties, and other factors that may cause our (or our industry's) actual results, levels of activity, performance, or achievements to be materially different from those anticipated by such statements. These factors include our ability to: Manage our growth, including acquiring, partnering with, and effectively integrating acquired businesses into our infrastructure and avoiding legal exposure and liabilities associated with acquired companies and assets; • Retain our clients and revenue levels, including effectively migrating new clients and maintaining or growing the revenue levels of our new and existing clients; • Maintain operations in our offshore offices in a manner that continues to enable us to offer competitively priced products and services; • Keep pace with a rapidly changing healthcare industry; Consistently achieve and maintain compliance with a myriad of federal, state, foreign, local, payor and industry requirements, regulations, rules, laws and contracts; • Maintain and protect the privacy of confidential and protected Company, client and patient information; • Develop new technologies, upgrade and adapt legacy and acquired technologies to work with evolving industry standards and third-party software platforms and technologies, and protect and enforce all of these and other intellectual property rights; • Attract and retain key officers and employees, and the continued involvement of Mahmud Haq as Executive Chairman and A. Hadi Chaudhry as Chief Executive Officer and President, all of which are critical to our ongoing operations, growing our business and integrating of our newly acquired businesses; • Comply with covenants contained in our credit agreement with our senior secured lender, Silicon Valley Bank a division of First-Citizens Bank & Trust Company and other future debt facilities; Pay our monthly preferred dividends to the holders of our preferred stock; • Compete with other companies developing products and selling services competitive with ours, and who may have greater resources and name recognition than we have; • Respond to the uncertainty resulting from the ongoing Covid-19 pandemic and the impact it may have on our operations, the demand for our services, our projected results of operations, financial performance or other financial metrics or any of the foregoing risks and economic activity in general; and • Keep and increase market acceptance of our products and services. Although we believe that the expectations reflected in the forward-looking statements contained in this presentation are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. In this presentation, we disclose certain non-GAAP historical and projected financial measures, including Adjusted EBITDA. We believe that these non-GAAP financial measures provide useful information to both management and investors by excluding certain items and expenses that are not indicative of our core operating results or do not reflect our normal business operations. Our use of non-GAAP financial measures has certain limitations in that such non-GAAP financial measures may not be directly comparable to those reported by other companies. We seek to compensate for the limitation of our non-GAAP presentation by providing a detailed reconciliation of the non-GAAP financial measures to the most directly comparable U.S. GAAP measures. Investors are encouraged to review the related U.S. GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable U.S. GAAP financial measures. The statements in this presentation are made as of the date of this presentation, and the Company does not assume any obligations to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made. CareCloud O CareCloud, Inc. 2023 1#3Hosts for First Quarter 2023 Earnings Call Mahmud Haq Founder & Executive Chairman CareCloud A. Hadi Chaudhry Chief Executive Officer & President Bill Korn Chief Financial Officer Kimberly Blanche General Counsel O CareCloud, Inc. 2023 2#4CareCloud A. Hadi Chaudhry Chief Executive Officer & President Ⓒ CareCloud, Inc. 2023#5Organic Growth Bookings Recurring bookings $ millions $10 $8 $6 $4 $2 $0 CareCloud I Q1 2021 0.66 x Q2 2021 Q3 2021 Recurring bookings and Customer acquistion cost Q4 2021 Q1 2022 $6 Q2 2022 $7 0.32 x Q3 2022 $8 Q4 2022 Customer acquistion $8 cost Q1 2023 0.75 X 0.60 x 0.45 x 0.30 x 0.15 x 0.0 x O CareCloud, Inc. 2023 4#62022 Bookings - Go Live CareCloud 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 8% 92% 2022 Bookings Go-live Bookings ACV ■ Pre/Production Not in production 44% Annualized Revenue ■Annualized revenue O CareCloud, Inc. 2023 5#72022 Bookings Go-Live 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 2022 Tech-enabled RCM Bookings 12% 88% Go-live Bookings ACV CareCloud 100% Annualized Revenue ■ Pre/Production Not in production Annualized revenue Product Category 2022 CareCloud Force Bookings Go-live 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 4% 96% Bookings ACV 4% Annualized Revenue ■ Pre/Production Not in production Annualized revenue 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 2022 Wellness Bookings Go-live 7% 93% Bookings ACV 7% Annualized Revenue Pre/Production Not in production Annualized revenue O CareCloud, Inc. 2023 6#8Emerging Opportunities - Middle East CareCloud r Kuwait Bahrain Saudi Arabia Qatar Pakistan United Arab Emirates Oman O CareCloud, Inc. 2023 7#9Marketing Efforts NASDAQ.CCLD CareCloud carecloud.com REDEFINING the Next Ger Revenue C medSR.com medSR Powered by expertise. exper Driven by client success. OREGO of Technolog vons medSR Premier Healthcare IT and Operations Consulting medsa.com medSR.com Twinny Trad Adiscrevce Cloud Action Staffing Sup Cham CareCloud Care Footprint GlobalMed NASDACH COLD CareC recloud.com medSR Premier Healthcare IT and Operations Consulting medSR.com A division 88 Technology Transformation Advisory Services Revenue Cycle Management Activation and Staffing • Supply Chain OLITOKE CareCloud carecloud.com DEFIN Generation recloud.com medsp MEDITECH Heady to limplement Ready to succeed. DO Tease Macist BEST IN KLASⓇ SMALL PRACTICE AMBULATORY EMR/PM: INDEPENDENT (2-10 PHYSICIANS) 2023 Recognized in the small practice ambulatory EMR/ PM space O CareCloud, Inc. 2023 8#10Therapy & Rehab EHR CareCloud 2 therapy EHR O CareCloud, Inc. 2023 9#11CareCloud Bill Korn Chief Financial Officer O CareCloud, Inc. 2023#12Q1 2023 Highlights Revenue (15%) $35.3 Q1 2022 $30.0 Q1 2023 CareCloud Net income (loss) (135%) $1.1 Q1 2022 ($0.4) Q1 2023 Adjusted EBITDA (10%) $4.7 Q1 2022 $4.2 Q1 2023 $ in millions. Percent change reflects Q1 2022 to Q1 2023 See reconciliations of non-GAAP results in the Appendix Adjusted net income (32%) $3.5 Q1 2022 $2.4 Q1 2023 O CareCloud, Inc. 2023 11#13Q1 2023 Revenues ■ Technology- enabled business solutions ■ Medical practice $1.0 management ■ Other healthcare IT services Q1 2023 Revenues CareCloud $3.0 $26.0 87% 51% 14% 22% Q1 2023 Revenue Technology-enabled services 13% 10% 3% Other services ■ Technology-enabled revenue cycle management Cloud-based software-as-a- service Healthcare IT professional services ■ Medical practice management Other services Most customers who utilize technology-enabled revenue cycle management use one or more elements of CareCloud's core technology (EHR or PM) O CareCloud, Inc. 2023 12#14Revenue Growth 2021 2022 plus 2023 Guidance Total Revenue Excluding 2 large customers each acquired prior to our taking over their ($ in millions) contracts via one of our 2020 acquisitions CareCloud - $139.6 $118.1 2021 $138.8 $126.7 +7% 2022 $142 - $146 $140 - $144 +12% 2023 Guidance ■Range □2 acquired customers Guidance Actual Percentages represent year-over-year growth excluding the two large customers acquired before one of our 2020 acquisitions, which migrated to their acquirers' platforms in mid-2022 Does not include the impact of any potential acquisitions Investors are cautioned that such statements involve risks and uncertainties that could cause actual results to differ materially from anticipated results O CareCloud, Inc. 2023 13#15Adjusted EBITDA 2021 2022 plus 2023 Guidance: 15% Growth $24-$27 +15% CareCloud ($ in millions) $22.1 2021 - $22.2 2022 2023 Guidance ■Range Guidance Actual Investors are cautioned that such statements involve risks and uncertainties that could cause actual results to differ materially from anticipated results See reconciliations of non-GAAP results in the Appendix O CareCloud, Inc. 2023 14#16Capitalization as of April 28, 2023 Stock Symbol Stock Price¹ Outstanding Shares¹ Equity Value Share Structure/ Terms ● • · Common Stock Nasdaq: CCLD $3.27 15.6 million $51 million CareCloud Public Float: 10.3 M shares Fully Diluted: 17.3 M shares Insiders: ~34% • Series A Preferred Stock Nasdaq: CCLDP $27.35 4.5 million $124 million Dividend: 11% of redemption value ($25.00), paid monthly Non-convertible Redeemable at $25.00 per share at Company's option Redemption value: $113 M Series B Preferred Stock Nasdaq: CCLDO $23.50 1.5 million $34 million Dividend: 8.75% of redemption value ($25.00), paid monthly Non-convertible Redeemable at $25.75 per share starting 2/2024, steps down to $25.00 by 2/2027 Redemption value: $36 M ¹ Stock prices and shares as of April 28, 2023 Debt and cash as of March 31, 2023 $ Millions $200 $150 $100 $50 CareCloud Enterprise Value $10.1 $8.2 $211 $51 $158 Common Preferred Debt Stock Stock Cash O CareCloud, Inc. 2023 Enterprise Value 15#17Thank You Nasdaq Global Market: CCLD, CCLDP, CCLDO Corporate carecloud.com Investor Relations CareCloud IR.carecloud.com Bill Korn, CFO [email protected] Asher Dewhurst, Westwicke [email protected] 443.213.0503 O CareCloud, Inc. 2023 16#18CareCloud Appendix O CareCloud, Inc. 2023 17#19Non-GAAP Financial Measures Reconciliation Adjusted EBITDA to GAAP net income ($000s) GAAP net income (loss) Provision for income taxes Net interest expense Foreign exchange / other expense Stock-based compensation expense Depreciation and amortization Transaction and integration costs Net loss on leases, restructuring, impairment & unoccupied lease charges Change in contingent consideration Adjusted EBITDA ($000s) GAAP net income (loss) Adjusted net income to GAAP net income Foreign exchange / other expense Stock-based compensation expense Amortization of purchased intangible assets Transaction and integration costs Net loss on leases, restructuring, impairment & unoccupied lease charges Change in contingent consideration Income tax expense related to goodwill Non-GAAP Adjusted Net Income CareCloud 2021 $ 2,836 $ 5,432 157 440 241 5,396 12,195 1,364 2,005 (2,515) $ 22,119 2021 $ 2,836 2022 177 364 712 4,914 11,725 876 1,138 (3,090) $ 22,248 2022 $ 5,432 241 5,396 8,880 1,364 2,005 (2,515) 290 $ 18,497 $ 16,334 712 4,914 6,277 876 1,138 (3,090) 75 Q1 2022 $ 1,140 64 95 (56) 887 2,940 102 158 (600) $ 4,730 Q1 2022 $ 1,140 (56) Q1 2023 $ (401) 65 130 $ (8) 887 1,805 102 158 (600) 36 $ 3,472 $ 1,072 3,038 $ 4,237 72 269 Q1 2023 (401) (8) 1,072 1,323 72 269 26 2,353 Please note that adjusted EBITDA and adjusted net income are not audited and such information is subject to risks and uncertainties and should be reviewed in conjunction with GAAP financial results reported in the Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. O CareCloud, Inc. 2023 18