#1AUGMEDIX Investor Presentation Nasdaq: AUGX AUGMEDIX December 2023 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 $48M 9/30/23 ARR Connect clinicians with the Augmedix Platform through mobile devices and proprietary software 157% Q3 2023 YoY Net Revenue Retention Comprehensive and flexible solution capable of being delivered at scale to -295,000 addressable clinicians 20+ Health Systems Served Let clinicians focus on what matters most: patient care >60,000 Notes Per Week Revenue ($ in millions) $7.9 50% YOY $11.8 Q3 2022 Q3 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 help healthcare providers shrink their care gap and increase patient access at scale by unburdening their clinicians from medical documentation so they can redirect more of their time towards patient care. We manage medical documentation virtually and unobtrusively, helping clinicians to see the patient, not the technology, enabling them to deeply and fully connect at the point of care. Our vision is to deliver rapid, actionable insights at the point of care that can improve patient outcomes and serve as the vehicle of choice for change management. LO 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 Gett EHR E The Augmedix Platform Electronic Health Record Medical documentation uploaded for clinician's sign-off Natural Language Processing (NLP) and Large Language Models (LLMs) ☑ LIVESTREAM Record Automatic Speech Recognition (ASR) 咂 Structured Data Models Streaming Services 00000 EHR Adaptors Enhanced Ambient Documentation 7#8Driving a $6 Billion Market Opportunity for Augmedix Opportunity -295,000¹ Addressable Clinicians in U.S. $6B U.S. Market Opportunity Select Current Customers 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 >57,000¹ Addressable Clinicians 4 Countries Sri Lanka $1.2B+ Expansion Opportunity within Existing Customers 60K+ Notes/Week (1) Company estimates out of a total of more than 1.1m 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 - 4 hrs Al-powered + Augmedix quality control $$ Augmedix Live Synchronous Quality-assured medical note + point-of-care support (orders, reminders, referrals) TAT - 30 min Al-powered + Augmedix MDS $$$#10Price Documentation Market Landscape Dictation/Transcription Remote Draft Note / Pure Al NUANCE Dragon 3M Fluency Direct High Clinician Burden Suki Ambient Products Complete Note / Human in the Loop AQuity SA NUANCE DAX NUANCE DAX Express Ambience abridge Augmedix Go Nabla Copilot Augmedix Notes DeepScribe Э In-Person ScribeAmerica ProScribe Remote / Real Time AQuity Augmedix Live Low Clinician Burden 10#11AI / 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 11#12Ambient Conversation Clinician-Patient ተዛባ Transparent Note Creation AUGMEDIX Automatic Speech Recognition (ASR) Google Cloud Natural Language Processing (NLP) and Large Language Models (LLMs) AUGMEDIX Notebuilder Canvas AUGMEDIX Medical Note Electronic Health Record Clinician: Nice to meet you. What brings you in today? Patient: I got a headache yesterday and it just won't go away. Clinician: Any fever or chills? Patient: No, just the headache and a sore throat. I'm taking Tylenol but it's not helping. Clinician: Let's start you on Ibuprofen, 800 mg, as needed. Clinician: Nice to meet you. What brings you in today? Patient: I got a headache yesterday and it just won't go away. Physician: Any fever or chills? Patient: No, just the headache and a sore throat. I'm taking Tylenol but it's not helping. Clinician: Let's start you on Ibuprofen, 800 mg, as needed. HPI ROS PE A/P Coding PROBLEMS Headache 1 ONSET TIMING Timing 1 hours constantly frequently intermittently days weeks Medications CURRENT MEDICATIONS RELIEF * Advil Tylenol ibuprofen with relief with some relief without relief HPI The patient is a 55-year-old female presenting today with a headache. Headache Patient reports onset 1 day ago, occurring constantly. She complains of associated sore throat but denies fever or chills. She is taking Tylenol without relief. A/P Headache New, acute. Uncontrolled. I advised the patient to start ibuprofen 800 mg PRN. 12#13Notebuilder (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 13#14Demonstrated & 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, $110,000 yr 14#15Competitive Differentiation Transparency User control Structured data AUGMEDIX Product fungibility Broad care settings & specialties Bi-directional communication channel Get Started HIPAA COMPLIANT 2 RISK-BASED 2-YEAR HITRUST CERTIFIED#161. 2. Robust KPI Performance YoY Growth in Clinicians in Service (CIS) Net Revenue Retention¹ 43% 41% 43% 48% 47% 133% 130% 129% 126% 136% 148% 157% 125%2 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Dollar-based NRR is derived from current period revenue including any expansion or new services and is net of contraction or churn compared to the previous period one year ago, but excludes revenue from new Health Enterprises for the current period. 125% is world class per Gainsight (https://info.gainsight.com/rs/231-EAT-840/images/2021-GS-NRReBook.pdf) 16#17Consistent Strong Growth Accelerating Revenue Growth ($ in millions) Improving Gross Margin & Profit ($ in millions) LTV/CAC:1 5x $11.8 $10.8 Payback Period:² ~13 months $9.6 $8.8 50% YOY $7.9 $7.3 $7.0 $6.6 $5.6 $5.8 $5.1 62% YOY $4.4 $4.1 $3.6 $3.1 $3.2 $2.9 $2.5 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 $28.75M public financing³ (November 2023) 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. 23 2. 3. LTM to 9/30/2023. 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 9/30/2023. 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. 17#18Highly Experienced Management Team Manny Krakaris Chief Executive Officer Sandra Breber Chief Operating Officer BNP PARIBAS Deutsche Bank Paul Ginocchio Chief Financial Officer Streetline Brightfield ARTHUR ANDERSEN ziploop Jonathan Hawkins Chief Revenue Officer Mede/Analytics BENU lan Shakil Edwards Saurav Chatterjee lumiata Co-Founder & Chief Technology Officer Chief Strategy Officer Amc10® asurion Davin Lundquist Chief Medical Officer Dignity Health CommonSpirit Rashed Noman Country Manager, Bangladesh GM BOEING 18#19T 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 19#20Thank You AUGMEDIX [email protected] | Matt Chesler, CFA - FNK IR