#1AUGMEDIX Investor Presentation Nasdaq: AUGX AUGMEDIX March 2024 Get Started#2Disclaimer This presentation includes forward-looking statements. All statements other than statements of historical facts contained in these materials or elsewhere, including statements regarding the Company's future financial position, business strategy and plans and objectives of management for future operations, are forward-looking statements. Forward-looking statements use words like "believe," "plan," "expect," "intend," "will," "would," "anticipate," "estimate," and similar words or expressions in discussions of the Company's future operations, financial performance or the Company's strategies. These statements are based on current expectations or objectives that are inherently uncertain. In light of these uncertainties, and the assumptions underlying the expectations and other forward-looking statements expressed, the forward-looking events and circumstances discussed in the accompanying materials may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. The Company's actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, those factors described in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's most recent Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, and similar disclosures in subsequent reports filed with the SEC. In particular, the following factors, among others, could cause results to differ materially from those expressed or implied by such forward-looking statements: the Company's expectations regarding changes in regulatory requirements; the Company's ability to interoperate with the electronic health record systems of its customers; the Company's reliance on vendors; the Company's ability to attract and retain key personnel; the competition to attract and retain remote documentation specialists; anticipated trends, growth rates, and challenges in the Company's business and in the markets in which the Company operates; the Company's ability to further penetrate its existing customer base; the Company's ability to protect and enforce its intellectual property protection and the scope and duration of such protection; developments and projections relating to the Company's competitors and the Company's industry, including competing dictation software providers, third-party, non-real time medical note generators and real time medical note documentation services; the impact of current and future laws and regulations; and the impact of the COVID-19 crisis on the Company's business, results of operations and future growth prospects. Past performance is not necessarily indicative of future results. The forward-looking statements included in this presentation represent the Company's views as of the date of this presentation. The Company anticipates that subsequent events and developments will cause the Company's views to change. The Company undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of this presentation. This presentation includes information related to market opportunity as well as cost and other estimates obtained from internal analyses and external sources. The internal analyses are based upon management's understanding of market and industry conditions and have not been verified by independent sources. Similarly, the externally sourced information has been obtained from sources the Company believes to be reliable, but the accuracy and completeness of such information cannot be assured. Neither the company, nor any of its respective officers, directors, managers, employees, agents, or representatives, undertake to update any of such information or provide additional information as a result of new information or future events or developments. 2#3Augmedix at a Glance O Real-time and asynchronous medical documentation for clinicians $51M 12/31/23 ARR Connect clinicians with the Augmedix Platform through mobile devices and proprietary software 152% Q4 2023 YoY Net Revenue Retention Comprehensive and flexible products capable of being delivered at scale to ~1.1 million addressable clinicians 20+ Health Systems Served Let clinicians focus on what matters most: patient care ~70,000 Notes Per Week Revenue ($ in millions) $8.8 45% YOY $12.7 Q4 2022 Q4 2023 3#4The Healthcare Dilemma Clinician burnout and chronic staffing shortages are creating a significant gap between health systems' capacity to provide care and the demand for care from a growing and aging patient population. Today's point-of-care delivery policies and technologies consume up to one-third of a clinician's workday, widening the care gap. Moreover, they have become an intrusion, creating a virtual "wall" between clinician and patient. They have exacerbated clinician burnout and led to high levels of patient dissatisfaction. 4#5AUGMEDIX Get Started Augmedix Mission & Vision Our mission is to empower clinicians to connect with patients by liberating them from administrative burden through the power of ambient Al, data, and trust. We transform natural conversations into organized medical notes, structured data, and point-of-care notifications that enhance efficiency and clinical decision support. This helps clinicians to see the patient, trust the technology. Our vision is to collaborate with hospitals and health systems to improve clinical, operational, and financial outcomes. 5#6Augmedix Benefits | Save clinicians up to 3 hours per day Increase clinician productivity by up to 20% Accessible products for health systems to adopt at scale#7Augmedix Eases the EHR Burden on Providers & Creates System Efficiencies Clinician-Patient Natural Conversation AUGMEDIX Get EHR יויו Electronic Health Record Medical documentation uploaded for clinician's sign-off Natural Language Processing (NLP) & Large Language Models (LLMs) Speech-To-Text (STT) Record The Augmedix Platform 咂 Structured Data Sets 00000 EHR Adaptors Fine Tuning Ambient Al Documentation 7#8Driving a $8 Billion Market Opportunity for Augmedix Opportunity ~1.1 million¹ Addressable Clinicians in U.S. $8B U.S. Market Opportunity Current Customers Select Major Health Systems Dignity Health HCA* Healthcare Scale Today CHI Health UCSF Health United States India Sutter Health A The US Oncology Network Bangladesh Northern Light Health CommonSpirit MCKESSON Adventist Health >150,000¹ Addressable Clinicians 4 Countries Sri Lanka $1.2B+ Expansion Opportunity within Existing Customers ~70K Notes / Week (1) Company estimates out of a total of more than 1.1 million U.S. clinicians. 8#9AUGMEDIX Ambient Al Medical Documentation Product Portfolio Our platform of products helps clinicians and enterprises maximize ROI Augmedix Prep Chart Prep Prior to start of day RPA Al-powered TAT = Turnaround Time Augmedix Go Augmedix Notes Instantaneous Asynchronous Draft medical note Quality-assured medical note TAT Real Time Al-powered TAT 1 hour Al-powered + Augmedix quality control $$ Augmedix Live Synchronous Quality-assured medical note + point-of-care support (orders, reminders, referrals) TAT 0-30 minutes Al-powered + Augmedix MDS $$$#10TAT = Turnaround Time AUGMEDIX Ambient Al Medical Documentation Product Portfolio Our platform of products helps clinicians and enterprises maximize ROI Augmedix Go Augmedix Notes Augmedix Live Instantaneous Asynchronous Draft medical note Quality-assured medical note TAT Real Time Al-powered $ TAT 1 hour Synchronous Quality-assured medical note + point-of-care support (orders, reminders, referrals) TAT 0-30 minutes Al-powered + Augmedix quality control Al-powered + Augmedix MDS $$ $$$ 10#11Price Documentation Market Landscape Dictation/Transcription Remote Draft Note / Pure Al Ambient Products Complete Note/ Human in the Loop Nuance Dragon® 3M M*Modal Fluency Direct Nuance DAX Copilot ABRIDGE Ambience DeepScribe Augmedix Go Suki Nabla Copilot AQuity SA Augmedix Notes High Clinician Burden Э In-Person ScribeAmerica ProScribe Remote / Real Time AQuity Augmedix Live Low Clinician Burden 11#12AI / ML 0 OH HN OH Note automation is ultimate goal LLMs are helpful but inadequate today Lower cost Scalable Standardization Rapid turnaround OH User trust of technology will dictate adoption LLMs alone insufficient: • • • Encounters rarely follow note format typically non-linear Complex conditions often result in errors and "note" bloat Need to convert conversational language into appropriate medical terminology Industry will resist "black box" solutions 12#13Transparent Note Creation Ambient Conversation Clinician-Patient AUGMEDIX Multiparty Medical Speech-to-Text (STT) Clinician: For your hyperlipidemia, your LDL is 138, which is high compared to last year. So you are currently taking pravastatin, 10mg once per day, correct? Patient: Yes Clinician: I want to get your values back to normal so we'll increase your dosage for pravastatin to 20mg once per day. We also want you to continue with a low-fat diet and regular exercise. Patient: Sounds good. I've also been having some back pain. Clinician: Let's start you on Ibuprofen, 800 mg, as needed. Natural Language Processing (NLP), Large Language Models (LLMS), Machine Learning (ML) Clinician: For your hyperlipidemia, your LDL is 138, which is high compared to last year. So you are currently taking pravastatin, 10mg once per day, correct? Patient: Yes Clinician: I want to get your values back to normal so we'll increase your dosage for pravastatin to 20mg once per day. We also want you to continue with a low-fat diet and regular exercise. Patient: Sounds good. I've also been having some back pain. Clinician: Let's start you on Ibuprofen, 800 mg, as needed. 1:56 Clinical Data Page < Schedule HPI Ralph Emerson A Hyperlipidemia Rx pravastatin 10 milligrams once per day Lb a1c 138 High A/P Rx pravastatin 20 milligrams once per day, Increase Tx low fat diet, regular exercise Lb cholesterol screening HPI Diabetes Sx fatigue, blurry vision, frequent urination. Rx metformin 500 milligrams twice a day blood glucose level 143 High, A1c 6.9 Normal A/P pravastatin 20 milligrams once per day, Rx B Medical Note Electronic Health Record HPI The patient is a 65-year-old male presenting today for: diabetes and hyperlipidemia follow-up, back pain. Hyperlipidemia His recent lab results showed an LDL level of 138, which is high compared to last year. He has been taking pravastatin 10 milligrams once per day. A/P Hyperlipidemia The patient's LDL level is high, so I plan to increase his dosage of pravastatin to 20 milligrams once per day. Structured Data Feed 13#14Notebuilder (web) Augmedix NLP is a collection of traditional neural network models and LLM output, with guardrails that verify relationships against datasets, as part of our responsible approach to using Al. Organize Build Review HPI ROS PE A/P Coding Diabetes. Type 21 Hyperlipidemia 2 Back pain 3 Select Preset Description Medications Symptoms SELF ASSESSMENT Patient reports fatigue, blurry vision, and frequent urination. Patient checks their glucose levels at home CURRENT MEDICATIONS metformin SYMPTOMS LIFESTYLE MODIFICATIONS Treatments RECENT LABS Tests Basic metabolic panel BUN CMP GFR Hepatic function panel Hgb A1c Lipid panel Microalbumin Urinalysis A1c LDL blood glucose TREATMENT PROCEDURES RECENT DIAGNOSTICS* Multiple Ways to Render Structured Data Medical Note Point-of-Care Nudges Raw Structured Data IMPRESSION DATE VALUE blood glucose 143 normal abnormal high low negative positive VALUE IMPRESSION A1c 6.9 normal CHECKS GLUCOSE AT HOME HOME BLOOD SUGARS LAST EYE EXAM Other mm/dd/yyyy ㅁ DATE 1:56 Augmedix Go < Schedule Mark James HPI Back pain Patient's current medications include: ibuprofen 800 mg. Patient reports that he has been having a lower back pain since helping his son move last weekend. The pain is described as a muscle spasm and is worse in the morning. Diabetes, Type 2 Patient's current medications include: metformin 500 mg BID. A1c high at 6.9, LDL high at 138, and blood glucose at 143. Patient reports fatigue, blurry vision, and frequent urination. Patient checks their glucose levels at home every morning, and they are usually around 140. PE General: Well appearing, well developed. Head and face: Normocephalic, atraumatic. Eyes: PERRL, EOM intact, conjunctiva clear, no nystagmus, no scleral icterus. Ears: External ear normal, TM's clear. Nose: External nose normal, internal nose normal. Mouth and throat: Moist mucous membranes, annhanunu clear Transcripts Problems Note LLM Content KEY LAST FOOT EXAM Structured Data from neural network models 14#15Demonstrated & Strong >3x ROI Augmedix can drive clinician productivity through better charge capture and/or improved patient access. 20% increase in revenue capture per visit 2.5 WRVUs/visit 3.0 WRVUs/visit Add'l $840 rev/day vs. $90-$150 avg. cost/day* Before Augmedix With Augmedix Results from: Health System Augmedix In-Service since 2016 100 Physicians 15 Specialties *Avg results = $840 incremental rev/day less $120 cost = $720/day/clinician Assuming 3 days of work per week $720 x 3 = $2,150 week, ~$9,000 month, $110,000 yr 15#16Competitive Differentiation Transparency User control Structured data Product fungibility Broad care settings & specialties Bi-directional communication channel AUGMEDIX Get Started HIPAA COMPLIANT 2 RISK-BASED 2-YEAR HITRUST CERTIFIED#171. 2. Robust KPI Performance YoY Growth in Clinicians in Service (CIS) Net Revenue Retention¹ 49% 48% 47% 44% 43% 43% 41% 133% 130% 129% 126% 136% 148% 157% 152% 125%² Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Dollar-based NRR is derived from current period revenue including any expansion or new services and is net of contraction or churn compared to the previous period one year ago, but excludes revenue from new Health Enterprises for the current period. 125% is world class per Gainsight (https://info.gainsight.com/rs/231-EAT-840/images/2021-GS-NRReBook.pdf) 17#18Consistent Strong Growth Accelerating Revenue Growth ($ in millions) Improving Gross Margin & Profit ($ in millions) LTV/CAC:1 5x $12.7 $11.8 Payback Period:² $10.8 45% YOY ~13 months $9.6 $8.8 $7.9 $7.3 $7.0 $6.6 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 $6.2 $5.8 54% YOY $5.1 $4.4 $4.0 $3.6 $3.1 $3.2 $2.9 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 $26.3M net public financing³ (Nov'23) to drive incremental growth by expanding Augmedix's commercial team, accelerating automation initiatives, and advancing efforts to create an open ecosystem of integrations and partnerships Note: Fiscal years are audited through December 31, 2022. Quarterly results are unaudited. 1. 2. 23 3. LTM to 12/31/2023. The Lifetime Value (LTV) of Augmedix Live is calculated by ARPU / (Annual Churn Percentage) x expected contribution margin. Customer Acquisition Cost (CAC) is the sales and marketing spend in the previous quarter divided by number of new clinicians sold in the most recent quarter plus the onboarding costs in the most recent quarter divided by the number of go lives in the most recent quarter. LTM to 12/31/2023. Payback period in months is calculated by CAC divided by the expected contribution profit in the first-year x 12. Includes lead investment from existing shareholders HCA Healthcare, Inc. (NYSE: HCA) and Redmile Group, LLC. 18#19Highly Experienced Management Team Manny Krakaris Chief Executive Officer BNP PARIBAS Streetline Sandra Breber Chief Operating Officer ARTHUR ANDERSEN ziploop lan Shakil Co-Founder & Chief Strategy Officer Davin Lundquist Chief Medical Officer Edwards mc10° Paul Ginocchio Chief Financial Officer Jonathan Hawkins Chief Revenue Officer Deutsche Bank ☑ Brightfield Mede/Analytics BENU Dignity Health Saurav Chatterjee lumiata CommonSpirit t Chief Technology Officer asurion Tomer Levy SVP, Engineering CHANGE HEALTHCARE MCKESSON Rashed Noman GM Country Manager, Bangladesh BOEING 19#20T Investment Highlights 000, Broad ambient documentation offerings that are differentiated and flexible across a variety of care settings Increases clinician productivity, optimizes reimbursement and improves patient access B Deployed at 5 of top 10 US healthcare enterprises with high Net Revenue Retention $1 Attractive scalable business model with compelling unit economics 品 Building on Al-powered platform delivers automated add-ons and drives growth and efficiency 20#21Thank You AUGMEDIX [email protected] | Matt Chesler, CFA - FNK IR