#1ResMed Corporate & Investor Presentation Updated: January 27, 2022#2Presentation of financial information & forward-looking statements Historical financial and operating data in this presentation reflect the consolidated results of ResMed Inc., its subsidiaries, and its legal entities, for the periods indicated. This presentation includes financial information prepared in accordance with accounting principles generally accepted in the United States, or GAAP, as well as other financial measures referred to as non-GAAP. The non-GAAP financial measures in this presentation, which include non-GAAP Income from Operations, non-GAAP Net Income, and non-GAAP Diluted Earnings per Share, should be considered in addition to, but not as substitutes for, the information prepared in accordance with GAAP. For reconciliations of the non-GAAP financial measures to the most comparable GAAP measures, please refer to the earnings release associated with the relevant reporting period, which can be found on the investor relations section of our corporate website (investor.resmed.com). In addition to historical information, this presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on ResMed's current expectations of future revenue or earnings, new product development, new product launches, new markets for its products, integration of acquisitions, leveraging of strategic investments, litigation, tax outlook, and the length and severity of the recent coronavirus outbreak, including its impacts across our business and operations. Forward-looking statements can generally be identified by terminology such as "may", "will", "should", "expects", "intends", "plans", "anticipates", "believes", "estimates", "predicts", "potential", or "continue", or variations of these terms, or the negative of these terms or other comparable terminology. ResMed's expectations, beliefs, and forecasts are expressed in good faith and are believed to have a reasonable basis, but actual results could differ materially from those stated or implied by these forward-looking statements. ResMed assumes no obligation to update the forward-looking information in this presentation, whether as a result of new information, future events, or otherwise. For further discussion of the various factors that could impact actual events or results, please review the "Risk Factors" identified in ResMed's quarterly and annual reports filed with the SEC. All forward-looking statements included in this presentation should be considered in the context of these risks. Investors and prospective investors are cautioned not to unduly rely on our forward-looking statements. 2 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 ResMed#3Company Overview & Strategy ResMed#4Who we are / what we do . • • Listed on NYSE & ASX, ~$35B market cap World-leading digital health company with over 16 million 100% cloud-connectable devices - 18.5+ million patients in AirView monitoring ecosystem - 115+ million patient accounts in out-of-hospital care network Innovative designer and manufacturer of award-winning devices and cloud-based software solutions – Diagnose, treat, and manage sleep apnea, chronic obstructive pulmonary disease, and other respiratory conditions Products and solutions designed to improve patient quality of life, reduce impact of chronic disease, and lower healthcare costs Cloud-based software solutions and devices designed to provide connected care, improving patient outcomes and efficiencies for healthcare providers - Tools that allow fewer people to manage more patients - Empower patients to track own health outcomes ResMed myAir Dashboard History Library Hos Gara Thursday, October 15 7:34 usage hours 70 Adjust mask sed 19 11 events per hour 3 3 mask orvott Total myAir score 95 95 100 points Excellent results, Luis! As you start to see the benetts in your ite your never dot back 000 Coaching tips Managing mouth leak My equipment Naximizing comfort using humidification Get tips to solve problems with nooth mak Mamice your comtat using humidification my Sootie Note on My sleep night Thursday, March 6 v 85 100 pos That's a great score, John! You're well on your way. Achieve a good mask Stevery Manage the way you active tips-Chang ermings Home - ResMed AirFit F10 Change 37 ResMed AirSense 10 Autoset Charge 2000-2000 isted 1 MY OPTIONS MY SLEEP VEW ResMed 545 usace hours 60/70 MORE Good mask seat 18/20 24 events per hour 3/5 4/5 Jo 1 mask onjoft [C Total myAir score 85/100 000 8 Cod 4 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 MAX ResMed#5Why invest? - driving long-term shareholder value с Growth & Innovation Global leader in digital health for sleep and respiratory care Long-term growth opportunities 8,700+ patents and designs • • ~7-8% of revenue invested in R&D . 0000 Market Dynamics Underpenetrated markets in sleep and COPD Healthcare costs continue to increase Focus on improving patient outcomes Value-based technology solutions Financial Results Historical revenue and profit growth • Recurring revenue Operating excellence program Strong track record of disciplined capital deployment Total Shareholder Return (NYSE shares as of 12/31/2021): 1-yr 23% 3-yr 135% 5-yr 346% 5 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 ResMed#6ResMed 2025 | Patient-centric, digitally-enabled strategy ResMed 250 million lives improved in out-of-hospital healthcare 2025 in 2025! Purpose⚫ Empower people to live happier, healthier, and higher quality lives in the comfort of their home Growth Focus Global health epidemics in sleep apnea, COPD, other major chronic conditions, and SaaS solutions that improve care in out-of-hospital settings Growth Advantage Transform care through innovative solutions and tech-driven integrated care to drive superior outcomes, experiences, and efficiency Growth Foundations High-performing, diverse, and entrepreneurial people Industry-leading innovation and business excellence Digital health technology and scientific leadership 6 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 2 80 80 N 8 PI ResMed#7Unlocking markets and expanding access with evidence and advocacy Diverse evidence generating capabilities Established scientific leader Solid foundation of clinical trials Economics and outcomes for value- based decisions ResMed Evidence Generation Team Behavior and population health research 1KOLs: Key opinion leaders Real world evidence studies with KOLs1 1,096 # of publications from 1996 onward 484 269 Better access and advocacy Unlocking reimbursement • U.S. Competitive Bidding Program delay and removal of NIV from the program Supporting the creation of new U.S. physician. remote monitoring codes • On-time device reimbursement in key markets Thought leadership • Achieved leadership positions in key global MedTech associations Thought leader in European and member state health data policy and remote monitoring reimbursement conversations ResMed Peer 1 Peer 2 Strong history of market development and growth Engagement on key policies Health Technology Assessments (e.g., UK NICE) Analyses of French health insurance data to demonstrate the positive impact of CPAP therapy on lowering mortality rates 7 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 ResMed#8Positioned to win Growing the market through commercial excellence and expanding market access Driving digital innovation in sleep and respiratory care to radically improve patient experience and outcomes Transforming out-of-hospital care at scale to drive better outcomes, lower costs, and improve quality of life 8 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 ResMed#9Our Business: Sleep & Respiratory Care ResMed#10Proactive care to capture significant underpenetrated markets Chronic disease is the largest driver of healthcare spending in developed economies Sleep apnea Leading indicator, and a contributing factor, to many chronic illnesses More than 80% undiagnosed Demonstrated positive dose-response relationship between CPAP usage and lower healthcare costs • • • COPD Largely undiagnosed COPD sufferers in high-growth markets such as China, India, Brazil, and E. Europe >100M² Acute treatment costs to healthcare systems are large - Europe: €48B per year* - U.S.: ~$50B per year5 More than 3M people worldwide die each year due to COPD1 Asthma Significant opportunity to improve adherence and improve patient-physician interaction Leveraging Propeller for increased data related to symptom occurrence and acute triggers Opportunity to partner with patients, providers, pharmaceutical companies, and payors to drive improved quality of life 936M sleep apnea patients Total addressable market 380M COPD patients²,3 330M asthma patients6 Well-positioned to expand proactive treatment of chronic diseases 1World Health Organization. The top 10 causes of death: Fact sheet: No310 (2014, May) accessed 20 Jul 16 2 https://www.ncbi.nlm.nih.gov/pubmed/26755942 3 Company estimates based on World Health Organization estimates and Zhong et al. "Prevalence of Chronic Obstructive Pulmonary Disease in China" Respiratory and Critical Care 4 European Respiratory Society, European Lung White Book http://www.erswhitebook.org/chapters/the-economic-burden-of-lung-disease/accessed 20Jul16 5 Guarascio et al. Dove Med Press, 2013 Jun 17 6 World Health Organization. Chronic obstructive pulmonary disease (COPD): Fact sheet No315. 2015 accessed 20Jul16 10 © 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 ResMed#11Driving digital innovation across Sleep and Respiratory Care Well-positioned to drive digital innovation with... Market-leading connected therapies and unique suite of software solutions ↑ ↑ ↑ Leveraging our device and software capabilities to increase patient engagement and success with therapy Driving greater provider efficiency and effectiveness to increase patient adherence and lower labor intensity Uniquely positioned to deliver value through our software solutions given access to rich and proprietary data from our connected devices Where we are going Building on our established leadership position to drive more streamlined and integrated experiences through digitally powered integrated care models Leveraging our leadership position to transform Sleep and Respiratory Care 11 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 ResMed#12Transforming care by enabling an integrated healthcare model Customer(s) Patients Payers Sleep apnea patient journey Integrated patient journey Identification Diagnosis Treatment set-up Healthcare providers Patients Payers Short-term adherence Resupply Long-term adherence Disease management Billing & Collecting + Services இ 000 Treatment Data Software Machine learning & analytics Benefits Reach and engage untreated patients Enable seamless patient experience Provide better care coordination Drive greater customer preference for ResMed solutions and brand Enable new care models Driving digital innovation across all aspects of the patient journey 12 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 ResMed#13Growing the market through new channels and partnerships New channel . . ResMed × ♥CVSHealth® Work closely with CVS to create streamlined sleep apnea patient journey in HealthHUB locations where patients can be screened, assessed, and setup on therapy as well as purchase related products all within the CVS ecosystem Educate CVS pharmacy colleagues, care concierge, and center of excellence team members; provide input into digital efforts to effectively identify presence of sleep apnea and provide recommendations for further testing as necessary Joint venture . . ResMed X verily = PRIMASUN Develop software solutions to identify, engage, and enroll individuals suffering from sleep apnea and other sleep- related disorders - guide them to get diagnosed and successfully treated Participate in the ecosystem of Verily companies to access sleep apnea patients and help them get diagnosed and treated • Generate further evidence of the positive impact of sleep apnea treatment on other chronic health conditions Expanding our ability to reach and serve patients 132022 ResMed | Corporate & Investor Presentation - updated 27JAN22 ResMed#14Nasal Full Face Leadership in OSA treatment with physical devices Latest launch Resined W Devices 品 AirMini™ 90 RosMed AirSense™ 11 AirSense™ 10 AirCurve™ 10 Key differentiators Quietest, most intuitive devices on the market AirSense 11: newest, most connected device Expanding digital tools for patient experience, including patient engagement built into device Minimalist Masks1 Freedom Universal Fit Ultra Soft AirFit™ F30 AirFit™ F30i AirTouch™ F20 AirFit™ F20 AirFit™ P10 AirFit™ N30 AirFit™ N30i AirFit™ P30i AirTouch™ N20 AirFit™ N20 1Curent in-line masks being promoted; not an exhaustive list 142022 ResMed | Corporate & Investor Presentation - updated 27JAN22 ✓ Premium comfort and machine-agnostic masks; widest range of masks on the market meeting the broadest set of patient needs Largest database of facial features; focused on designing for fit Expertise and experience in translating clinical knowledge into product features (e.g., comfort, durability) ResMed#15Data-driven sleep apnea therapy • AirSense 11 is a two-way communication data platform - - - Both cell and Bluetooth connectivity Seamless pairing with myAir app and directly to the cloud Very rich consumer-like experience on myAir app Patient questions and prompts on the device Built for Over-the-Air (OTA) upgrades Add new features without new hardware Improved patient adherence - ~60% uptake of myAir patient engagement app vs 25% on AS10 - Up to 87% adherence with use of myAir, AirView, AirSense platform Even more streamlined provider workflows and lower costs Improved patient management - Future: Patient Reported Outcomes Metrics (PROMs) for payors and health systems Home AirSense 11 MY OPTIONS MY SLEEP VIEW ResMed + MORE MAX AirSense 11 is the device platform that will enable us to deploy AI/ML into sleep therapy 152022 ResMed | Corporate & Investor Presentation - updated 27JAN22 ResMed#16Leadership in OSA treatment with data applications ResMed myAir Avaalean ins and Aneroid Resivod о moskevat пократ Fiday, June y 91 Talmie 022 8 ResMed AirView™ ResMed ResMed 2014. ResMed AirSION Eugene, Judy Las ResMad AirNew Patients Training for HME Training for Sleep Lab Main Men Heme User-friendly, intuitive platform provides milestone accomplishments and motivation to patients, increasing therapy adherence, and improving sleep quality Focused on app enhancements to enable long-term adherence for life vs. short-term (e.g., app-based nudges) Clear-cut market leader with 4.0M U.S. patients registered to the myAir platform across the website and app Recently launched upgraded version: myAir 2.0 Key differentiators Large installed base with over 18.5M patient enrolled in our cloud-based software solution Seamless integration with ResMed devices enhances provider efficiency and improves patient monitoring through industry-leading remote diagnostic tools Increased data capture enables us to drive more personalized care to improve the patient experience Unlocking value for both patients and providers 16 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 ResMed#17At the forefront of Respiratory Care Patient Management ~ Peaded Airview Ventilation patients Lp221 Poe Jimmy OKE OTETT Deve AirView™ for Ventilation Bilevel Ventilation R Digital Therapeutics Dufy Schedule cover Propeller Non-invasive Ventilation (NIV) High-Flow Therapy Resided TM AcuCare™ HFNC Lumis High flow nasal cannula HFT Life Support Ventilation Pianfore AirCurve™ 10 Lumis™ 100 Stellar™ 100 Astral™ Astral™ 150 Life support ventilator VPAP ST www Highlights Widest range of therapies for higher acuity respiratory patients, including COPD and asthma Broadest set of digitally connected respiratory therapy devices Market leading platform for managing inhaled medications Premier solution for remote management of ventilated patients Patient Acuity The right device, for the right patient, at the right time 17 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 ResMed#18Leveraging our scale with data and digital solutions Now Next With more than 10.5 billion nights of therapy usage data we have a unique ability to create actionable insights: For Patients • Coaching and usage help in context through myAir app . For Providers • Patient management by exception, streamlined workflows, lower costs, higher adherence, and increased revenue For Payors • Increased patient adherence and improved ROI on therapy ● For Patients Personalized coaching in myAir based on ML For Providers Patient management by prediction For Payors • Proof that it pays to find and treat sleep apnea patients; improved patient management with PROMS Benefitting all stakeholders with better outcomes and lower costs 18 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 ResMed#19Our Business: Software as a Service (SaaS) ResMed#20Leading provider of cloud-based software for out-of-hospital care providers across multiple settings Our breadth uniquely positions us to be the innovation engine for providers Out-of-hospital care ecosystem Software solutions and data Home Medical Equipment Providers brightree by ResMed 000 MatrixCare® by ResMed Pharmacy/ Infusion Home Health Hospice/ Palliative Care Private Duty Skilled Nursing Senior Living We are the gateway to out-of-hospital care 20 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 Life Plan Communities ResMed#21We have a leading position across these markets PATIENT & RESIDENT RECORDS API CALLS & OTHER TRANSACTIONS USERS 115M+ 10M+ 700K+ IN OUR OUT-OF-HOSPITAL PER DAY CARE NETWORK Continuously expanding market potential $2.0B FY 2021 estimated market size ✓ HME: #1 position and expanding into Pharmacy / Home Infusion ✓ Home Health & Hospice - Large: 2020 Best in KLAS Award Home Health - Large: 2021 Best in KLAS Award ✓ Skilled Nursing Facility: Multi-year winner of Best in KLAS Award - $386M LTM 2Q22 ResMed SaaS revenue One of the leading market positions across the markets we serve – with room to grow 21 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 ResMed#22Uniquely positioned to address provider needs brightree by ResMed MatrixCare by ResMed Demand for greater coordination across provider markets 000 0 0 0 Home Medical Equipment Providers Pharmacy/Infusion Home Health Hospice/ Palliative Care Private Duty Skilled Nursing Senior Living Life Plan Communities Providers are diversifying and lines are blurring across the continuum; Skilled nursing facility owners are moving into home-based care • We are working with our customers to address their needs, holistically across the markets they serve • Our solutions are supported by the richness of our data Differentiated value creation within SaaS portfolio through breadth and commitment to innovation 22 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 ResMed#23Digital Health Technology ResMed#24Our digital health solutions improve outcomes and lower costs ResMed ecosystem Connected devices and digital health Propeller AirView™ PATIENT/ CONSUMER APPS/DIGITAL THERAPEUTICS DEVICES CLINICIAN H myAir™ IDN Out-of-hospital platform brightree by ResMed MatrixCare by ResMed HME/PAYORS HEALTHCARE first by ResMed Artificial intelligence Machine learning Patient outcomes >>> → Business outcomes Focused on interoperability so our ecosystem works with the broader healthcare ecosystem 24 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 Operations ResMed#25We transform 10.5+ billion nights of medical data into useful outcomes End-to-end digital health solutions in sleep, respiratory care, and out-of-hospital healthcare ApneaLink Air Type Ill home sleep testing device Testcompl ResMed ApneaLink Air DIAGNOSIS AirView DIAGNOSTICS Air10™ series AirView™ Astral™ with RCM - > 10 Apterse 10 THERAPY AirMini™ ResMed 25 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 90 www AirView™ ActionGroups 12 34 MyAir 01011 Cor: b Ongping alu 05 10 78 Hatake red 11 B 10 brightree. MONITORING & MGMT. PATIENT ENGAGEMENT BILLING & INTEGRATIONS Go Scripts ReSupply Propeller Compele Relevel and Dumenia. Sule ResMed Data Exchange 3rd Party Integrations I ResMed#26Global leader in digital health 18.5+ million patients on AirView™ 2+ million diagnostic tests processed in the cloud ~100 API calls per second from integrators 26 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 EEL 85 >16 million 100% cloud connectable devices worldwide >115 million accounts in out-of-hospital care network 4+ million patients have signed up for myAir™ ResMed#27Recent Quarterly Results ResMed#28Q2 FY22 financial results Diversified revenue by business & by geography OOH SaaS 11% $ in millions, except per share amounts Revenue Non-GAAP gross margin* Non-GAAP operating income* Non-GAAP EPS* * Refer to Non-GAAP reconciliations in the Appendix. 2Q22 $894.9 +12%, +13% CC 57.6% (230) bps $267.7 +5% $1.47 +4% Masks & Other 38% Europe, Asia, and Other 35% Revenue by business 2Q22 Revenue by region 2Q22 Devices 51% U.S., Canada, and Latin America 54% 28 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 OOH SaaS 11% ResMed#29Capital allocation $ in millions 2Q22 Higher priority . Cash and cash equivalents $194 Reinvest for growth Reinvest in product development for high-return organic growth 7% of FY 2021 revenue invested in R&D Debt $680 Net debt $486 Non-GAAP free cash flow $189 Pursue M&A Actively evaluate potential acquisitions Pursue targets aligned with long-term strategic goals and financial objectives Unused borrowing capacity $1,570 NOTE: Values may not calculate due to rounding Support dividends Regular return of cash to shareholders. through dividend at a level that is meaningful and sustained During 2Q22 $63M invested in R&D (7% of revenue) Paid $61M in dividends to shareholders Lower priority 29 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 Opportunistically repurchase shares • Current program suspended following Opportunistic repurchase of shares acquisitions of MatrixCare and Propeller ResMed#30Track record of strong financial returns for shareholders (Financial data as of December 31, 2021) $2.0 Revenue ($B) 12% CAGR $3.4 LTM 2Q17 LTM 2Q22 Non-GAAP Operating Income ($M) $490 16% CAGR $1,051 LTM 2017 LTM 2Q22 Non-GAAP EPS $2.78 15% CAGR $5.63 LTM 2Q17 LTM 2Q22 Total shareholder return, TSR (NYSE shares as of 12/31/2021): 1-yr 23% | 3-yr 135% | 5-yr 346% NOTE: See reconciliation to GAAP in Appendix 30 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 ResMed#31Our vision is to empower people to take control of their health so they can sleep better, breathe better, and live better lives outside the hospital Connected therapy devices Connected medications Masks Software solutions 8円 Services (Resmed 360) 95 H Improve the patient experience + Increase long- + Lower the + term adherence cost of delivery Improve health + outcomes Measurably + improve economic Improve QOL outcomes outcomes Our business aim is to make our device therapies and connected systems indispensable by combining them with intelligent data products#32In the last 12 months, we changed over 133 million lives with our digital health products and cloud-based software solutions AT&T W Wednesday, January 31 mykir score 85 100 points That's a great score! You're well on your way to improving your health 5:58 usage hours 60/70) Adjust mask seal 5.4 events per hour Jo 3 mask onjoft 4157 Dawk Our aspiration is to improve 250 million lives in 2025#33Contact Investor Relations Phone: (858) 836-5971 Email: [email protected] Website: investor.resmed.com#34APPENDIX ResMed#35Reconciliation of non-GAAP financial measures The measures "non-GAAP gross profit" and "non-GAAP gross margin" excludes amortization expense from acquired intangibles related to cost of sales and are reconciled below: (Unaudited; $ in thousands, except for per share amounts) 0000 Three Months Ended Six Months Ended December 31, 2021 December 31, 2020 December 31, December 31, 2021 2020 Revenue $ 894,874 $ 800,011 $ 1,798,890 $ 1,551,955 GAAP Cost of sales $ Less: Amortization of acquired intangibles Less: Restructuring - cost of sales 390,556 (11,231) $ 337,528 (11,164) $ 788,282 (22,289) $ 650,811 (23,143) (5,232) (5,232) Non-GAAP cost of sales $ 379,325 $ 321,132 $ 765,993 $ 622,436 GAAP gross profit GAAP gross margin Non-GAAP gross profit $ 504,318 $ 56.4 % 462,483 57.8 % $ 1,010,608 $ 56.2 % 901,144 58.1 % SA $ 515,549 $ Non-GAAP gross margin 57.6 % 478,879 59.9 % $ 1,032,897 $ 57.4 % 929,519 59.9 % Note regarding non-GAAP reconciliations ResMed adjusts for the impact of the amortization of acquired intangibles, reserve for disputed tax positions, restructuring expenses and the (gain) loss on equity investments from their evaluation of ongoing operations, and believes that investors benefit from adjusting these items to facilitate a more meaningful evaluation of current operating performance.. ResMed believes that non-GAAP diluted earnings per share is an additional measure of performance that investors can use to compare operating results between reporting periods. ResMed uses non-GAAP information internally in planning, forecasting, and evaluating the results of operations in the current period and in comparing it to past periods. ResMed believes this information provides investors better insight when evaluating ResMed's performance from core operations and provides consistent financial reporting. The use of non-GAAP measures is intended to supplement, and not to replace, the presentation of net income and other GAAP measures. Like all non-GAAP measures, non-GAAP earnings are subject to inherent limitations because they do not include all the expenses that must be included under GAAP. 35 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 ResMed#36Reconciliation of non-GAAP financial measures, cont'd The measure "non-GAAP income from operations" is reconciled with GAAP income from operations below: (Unaudited; $ in thousands, except for per share amounts) 0000 Three Months Ended Six Months Ended December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 GAAP income from operations $ SA Amortization of acquired intangibles - cost of sales Amortization of acquired intangibles - operating 248,711 11,231 $ 221,716 11,164 $ 7,738 7,689 510,624 22,289 15,445 $ 438,612 23,143 15,932 expenses Restructuring - cost of sales Restructuring - operating expenses Non-GAAP income from operations 5,232 5,232 8,673 8,673 $ 267,680 $ 254,474 $ 548,358 $ 491,592 Note regarding non-GAAP reconciliations ResMed adjusts for the impact of the amortization of acquired intangibles, reserve for disputed tax positions, restructuring expenses and the (gain) loss on equity investments from their evaluation of ongoing operations, and believes that investors benefit from adjusting these items to facilitate a more meaningful evaluation of current operating performance.. ResMed believes that non-GAAP diluted earnings per share is an additional measure of performance that investors can use to compare operating results between reporting periods. ResMed uses non-GAAP information internally in planning, forecasting, and evaluating the results of operations in the current period and in comparing it to past periods. ResMed believes this information provides investors better insight when evaluating ResMed's performance from core operations and provides consistent financial reporting. The use of non-GAAP measures is intended to supplement, and not to replace, the presentation of net income and other GAAP measures. Like all non-GAAP measures, non-GAAP earnings are subject to inherent limitations because they do not include all the expenses that must be included under GAAP. 36 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 ResMed#37Reconciliation of non-GAAP financial measures, cont'd The measure "non-GAAP net income" and "non-GAAP diluted earnings per share" are reconciled with GAAP net income and GAAP diluted earnings per share in the table below: (Unaudited; $ in thousands, except for per share amounts) 0000 Three Months Ended Six Months Ended December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 GAAP net income $ 201,751 $ 179,514 $ Amortization of acquired intangibles - cost of sales, net 8,564 8,566 405,364 16,999 $ 357,886 17.742 ' of tax Amortization of acquired intangibles - operating 5,901 5,900 11,780 12,214 expenses, net of tax Reserve for disputed tax position 4,111 Restructuring cost of sales, net of tax 4,663 4,663 Restructuring - operating expenses, net of tax 7,730 7,730 (Gain) loss on equity investments (8,476) Non-GAAP net income $ GAAP diluted shares outstanding 216,216 147,040 $ SA 206,373 $ 438,254 SA $ 391,759 146,421 147,044 146,350 GAAP diluted earnings per share Non-GAAP diluted earnings per share. SS $ 1.37 $ 1.47 SS $ 1.23 $ 1.41 SAS $ 2.76 $ 2.98 SAS $ 2.45 $ 2.68 Note regarding non-GAAP reconciliations ResMed adjusts for the impact of the amortization of acquired intangibles, reserve for disputed tax positions, restructuring expenses and the (gain) loss on equity investments from their evaluation of ongoing operations, and believes that investors benefit from adjusting these items to facilitate a more meaningful evaluation of current operating performance.. ResMed believes that non-GAAP diluted earnings per share is an additional measure of performance that investors can use to compare operating results between reporting periods. ResMed uses non-GAAP information internally in planning, forecasting, and evaluating the results of operations in the current period and in comparing it to past periods. ResMed believes this information provides investors better insight when evaluating ResMed's performance from core operations and provides consistent financial reporting. The use of non-GAAP measures is intended to supplement, and not to replace, the presentation of net income and other GAAP measures. Like all non-GAAP measures, non-GAAP earnings are subject to inherent limitations because they do not include all the expenses that must be included under GAAP. 37 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 ResMed#38Striving for excellence in environmental, social, and governance processes Eliminating unnecessary waste We work to eliminate unnecessary waste in all our systems & processes, such as minimizing our use of natural resources. Minimizing pollution Product stewardship We are minimizing pollution, in particular our non-biodegradable waste to landfill. We design and develop products with reduced impact on the environment through their lifecycle. Responsible compliance We fulfill all relevant and applicable compliance obligations in the countries and communities that we operate in. Increased awareness and continual improvement We drive internal awareness of environmental impacts and monitor our performance through collaboration with others to make continual improvements Recognized by others for leading in this space: Newsweek's 2022 "America's Most Responsible Companies" WSJ's 2021 "Management Top 250" • 38 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 AMERICA'S MOST WSJ 2021 RESPONSIBLE Newsweek COMPANIES statista MANAGEMENT TOP 250 ResMed#39Turning big data into actionable information Pioneering innovation and providing clinical evidence that support better patient outcomes and improved business efficiencies for customers AirView™ myAir 85 85 85 121% patient adherence with automated compliance coaching Labor Costs² 159% New Patient Setups³ 155% World's largest study for adherence > 128,000 patients Munafo, et al. Sleep Breath 2016 1234 1. Hwang, et al., AJRCCM 2017 2. 3. Data based on monthly patient setups and compliance rates of DME customers from February 2014 - March 2015. Historical results for this provider over the stated time Malhotra et al CHEST 2018 124% patient adherence with patient engagement4 39 © 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 ResMed#40Improving adherence to therapy with patient monitoring and resupply ResAdhere: remote monitoring + mask resupply drive improved adherence In a study of ~100k patients with AirView cloud-connected devices... Probability on Therapy (%) 100 100% 0 90 Resupply group (AirView + Brightree) Control group (non-resupply) Time to Drop out (days) + brightree AirView™ 84% 66% 360 ...the likelihood of therapy termination decreased by >50% after one year and there was a significant increase in daily PAP usage Benjafield, et al. AJRCCM 2018 (abstract) Note: De-identified data from Brightree and AirView were sent to a third-party independent statistician who provided the anonymized analyses and findings. 40 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 ResMed#41Long-term CPAP treatment decreases mortality rates and reduces the risk of comorbidities Recent prospective cohort study from the UK published in ERJ Open Research reconfirms treating OSA with CPAP improves health outcomes 30 year study duration 4,502 diagnosed OSA patients 15 year average follow-up time Those who did not use CPAP were 5.63x more likely to die than a long-term (>5 years) CPAP user The study also reconfirms with new data that untreated OSA leads to a greater risk in developing: Dodds et al. ERJ Open Res 2020 41 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 Myocardial Infarction (heart attack) Type 2 Diabetes Mellitus Ischemic Heart Disease ResMed#42Reducing mortality with PAP therapy U.S. multicenter, population-based cohort study . Study included 392 patients with sleep apnea, with 11 years of follow-up •Positive airway pressure therapy associated with a 62% lower risk of all-cause mortality •Death rate was twice as high for persons who did not receive positive airway pressure therapy - (24.7 vs 12.8 deaths per 1000 person years, p = 0.03) Lisan Q et al. JAMA Otolaryngol Head Neck Surg 2019 42 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 100 Proportion Surviving, % 70- 80 80 90 60 0 Sleep Heart Health Study HR, 0.38 (95% CI, 0.18-0.81) PAP prescribed PAP not prescribed 5 10 15 20 Time, y ResMed#43Demonstrated positive dose-response relationship between increased CPAP usage and lower healthcare costs For every one hour per night increase in PAP usage there was an 8% decrease in inpatient visits and a 4% decrease in overall acute care visits.1 Each Hour 8% 4% PAP Usage 1. Kirsch DB et al. J Clin Sleep Med 2019 * Overall visits" includes inpatient, ED, and observation visits. 432022 ResMed | Corporate & Investor Presentation - updated 27JAN22 Inpatient Visits Overall Visits* ResMed#44Study demonstrates the effectiveness of CPAP therapy and quality of life improvements for those with mild obstructive sleep apnea MERGE trial: clinical effectiveness of CPAP treatment in patients with mild obstructive sleep apnea Demonstrated improvement in 56. ● CPAP -Standard care Quality of Life (SF-36 vitality scale) Treatment effect 7-5 (95% CI 5-3-9-6); p<0-0001 54- for CPAP patients vs. standard • care • Symptomatic benefits: • Reductions in sleepiness 52 Mean vitality score (95% CI) 46- 48- g Improvements in fatigue and depression Compelling evidence supports the need and benefits of treating mild OSA Combined with recently published global prevalence research, 936M patients worldwide can benefit from PAP treatment 44 42- T 40 Baseline Month 3 Visit Change in SF-36 Vitality Scale in Patients with Mild OSA per AASM 2012 Wimms et al. Lancet Respir Med 2019 44 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 MMERGE Dundee Blackpool Liverpool Cambridge Oxford Taunton Plymouth UK Respiratory Sleep Research Network Newcastle Stevenage London (G&ST) London (RB&HT) ResMed#45Big data analysis drives insights for treatment of central sleep apnea Patients with treatment-emergent central sleep apnea (CSA) are 2x more likely to terminate therapy • Opportunity to rethink conventional therapeutic options Minimize risk of therapy termination through early diagnosis • Regularly monitor patients to support adherence to treatment 100 50 Analysis of ~200k CSA patients 22% increase in adherence CMS adherence on CPAP prior to switching 62.7% CMS adherence after switching to ASV 76.6% Switching from therapy CPAP to ASV improved relative adherence by 22% Patients who switched from CPAP to ASV had fewer apneas and hyponeas during sleep 45 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 AM CHEST Journal ResMed#46Patient engagement drives 87% adherence to PAP therapy Cumulative percentage of patients 1.0 0.9 0.8 NO 0.7 0.6 0.5 0.4 0.3 0.2 0.1 -AirView only (N=85,358) ―myAir (N=42,679) 0.0 0 10 20 30 40 50 60 70 80 90 About the clinical study . Largest clinical study 1 to date assessing the impact of adding the myAir patient engagement tool for PAP patients already using AirView Resulted in more than 137 million nights of data • Patients in both groups were treated with PAP therapy over the 90 days. Personalized engagement benefits everyone • Significantly improves adherence • Can be achieved with minimal burden on providers. Days to achieve CMS adherence Patients who use myAir and AirView improved adherence by 17% over those who only use AirView 1. Malhotra et al CHEST 2018 46 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 ResMed#47Big data analysis demonstrates CPAP treatment decreases mortality rates by 39% Objective: to investigate the effects of CPAP therapy use on all-cause mortality in patients with OSA ALASKA study¹ conducted using data from SNDS, one of the largest anonymized claims databases in the world representing over 99% of the French population - ― Included >176,000 people in France New CPAP users aged 18+, initiated treatment Jan'15-Dec'16 Survival probability 1.00 0.98 0.96 0.94 CPAP therapy termination CPAP therapy continuation . OSA patients who continued CPAP therapy over the 3-year study period were 39% more likely to survive than those who discontinued CPAP therapy 1. Pepin, et al. ERJ suppl (ERS) 2021 HR 0.61, 95% confidence interval [CI] 0.57-0.65; Log-rank p<0.01 0 0 1 2 3 Time [years] CPAP treatment is a case of life or death 47 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 ResMed#48Opportunity to shift care from hospital to home . Healthcare costs are on the rise Combining non-invasive ventilation (NIV) with home oxygen therapy (HOT) - - Reduces hospitalization and mortality by 51% Increases time to hospital readmission or death by ~90 days JAMA® The Journal of the American Medical Association Admission-free Survival % 100- 80 60 40 20 20 Admission-free survival by treatment arm over one year Adjusted hazard ratio, 0.49 (0.31-0.77); P=.002 Home Oxygen Plus Home NIV Home Oxygen Alone Combination of HOT with NIV reduced hospital readmissions by 58.3% Combination of therapies provided improved patient quality of life and saved >$50k per quality of life adjusted year 01 0 2 4 6 8 10 12 Time (months) 1 P. Murphy et al., Effect of Home Noninvasive Ventilation With Oxygen Therapy vs Oxygen Therapy Alone on Hospital Readmission or Death After an Acute COPD Exacerbation. A Randomized Clinical Trial, JAMA .Published online May 21, 2017. doi: 10.1001/jama.2017.4451. 48 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 ResMed#49Digital health solutions for inhaled COPD and asthma pharmaceuticals ResMed has end-to-end digital health solutions for COPD patients across stages I, II, III, IV of the disease • Uses sensors with inhalers and consumer app to track medication usage and provide insights to patients and physicians Contracts with pharma companies to support clinical trials and biologics UPSTREAM Customers include: gsk $$ Patients + $$ . Establishes ResMed as a leading provider of COPD and asthma patient management solutions Enables digital integration through the continuum of care and progression of the disease Health and economic outcomes Direct and value-based contracts with health systems and payers Payers DOWNSTREAM Anthem U NOVARTIS ORION Increased drug adherence and sales Propeller Improved clinical trial speed and enhanced time to market 49 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 PBMs EXPRESS SCRIPTS Clinical insights and efficiencies Health systems Dignity Health. Pharmacies $$ Patients + $$ Walgreens Patient Enrollment & Engagement ResMed#50Propeller has demonstrated compelling clinical outcomes 1) Impact of the Propeller solution tracking inhaler usage and location SABA use over time # per day Symptom free days % Healthcare utilization Events 2.0 1.5 -50% 1.0 0.5 Uncontrolled COPD 0.0 0 Uncontrolled Asthma 75 50 50 25 +32% 0 50 100 150 200 0 50 100 150 200 Drives a decrease in medication Adherence % 36 +58% 57 40 Control Intervention Drives an improvement in adherence 50 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 Drives an improvement in QOL QoL: Rescue Inhaler use per day # times used 1.5 1.0 -75% 0.5 0.0 1 180 Drives an improvement in QOL -25% 79 Before 59 After Drives a reduction in healthcare utilization Acute care utilization Events per 100 patient years 13 Pre-enrollment Post-enrollment 12 6 5 365 ED + Hosp. ED 2 0 Hosp. Drives a reduction in healthcare utilization ResMed#51Propeller's digital medicine platform drives reduced healthcare utilization ◉Cleveland Clinic Study Overview: Propeller Cleveland Clinic enrolled people into Propeller as part of their routine clinical care and monitored them for at least one year. Providers monitored drug use and adherence to inhaled controller medications, providing follow-up as needed. Population: COPD patients with ≥1 utilization (Emergency Department ("ED") visit or hospitalization) in prior 12 months. N = 39; mean age: 69 years, 51% male, 69% African American, mean FEV11 predicted: 47.2%, mean CAT: 192 Numbe of Hospitalizations and ED visits per person per year LO + M C Results: 12 months prior p = 0.06 4.7 ± 4.1 12 months during monitoring 3.4 + 2.6 3.4 ± 3.2 2.2 ± 2.3 1. FEV1 - Forced Expiratory Volume in 1 second - the volume of air that can be forcibly blown out in the first second after full inspiration. Values between 80% and 120% are considered normal 2. CAT = COPD Assessment Test - an eight-item questionnaire designed to quantify the impact of COPD symptoms on a patient's health status.. Scored between 0-40, <10 Low, 10-20 Medium, 21-30 High, >30 Very high Alshabani K, et al. Electronic inhaler monitoring and healthcare utilization in chronic obstructive pulmonary disease. J Telemed Telecare. 2019 51 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 All-cause COPD Healthcare Utilization ResMed#52Strong track record of M&A Our transformative acquisitions have enabled tuck-in opportunities, creating added capabilities brightree + by ResMed MatrixCare by ResMed + Propeller Added Capabilities conduittechnology AllCall Connect - 2017 Enhanced HMES' custom forms and workflow solutions 2017 Provided live call center services for HMES 2018 Added mobile applications to automate and streamline empower companies to business processes HEALTHCARE +first SNAP CITUS HEALTH 2018 Software solutions to optimize clinical, financial, and administrative processes 2020 Elevated Brightree's ReSupply platform, creating the largest CPAP resupply patient base 2021 Enhanced real-time communication technology, specifically real-time response, to inbound communications Proven ability to integrate and leverage transformative acquisitions and tuck-ins Apacheta CORPORATION Mobile Business Solutions 52 2022 ResMed | Corporate & Investor Presentation - updated 27JAN22 ResMed Enhanced portfolio ResMed