#19:41 Life MD* Schedule your appointment Today ASAP -20 min wait ฟล Tomorrow Jan 23 Jan 24 Dr. Jennell Giles Any available provider Schedule an appointment Life MD Investor Presentation Possible conditions: Middle ear infection Strong evidence March 2024 NASDAQ: LFMD ill Inflamation of external ear >#2Important cautions regarding forward-looking statements This presentation includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended; Section 21E of the Securities Exchange Act of 1934, as amended; and the safe harbor provision of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this presentation may be identified by the use of words such as: "believe," "expect," "anticipate," "project," "should," "plan," "will," "may," "intend," "estimate," predict," "continue," and "potential," or, in each case, their negative or other variations or comparable terminology referencing future periods. Examples of forward-looking statements include, but are not limited to, statements regarding our financial outlook and guidance, short and long-term business performance and operations, future revenues and earnings, regulatory developments, legal events or outcomes, ability to comply with complex and evolving regulations, market conditions and trends, new or expanded products and offerings, growth strategies, underlying assumptions, and the effects of any of the foregoing on our future results of operations or financial condition. Forward-looking statements are not historical facts and are not assurances of future performance. Rather, these statements are based on our current expectations, beliefs, and assumptions regarding future plans and strategies, projections, anticipated and unanticipated events and trends, the economy, and other future conditions, including the impact of any of the aforementioned on our future business. As forward-looking statements relate to the future, they are subject to inherent risk, uncertainties, and changes in circumstances and assumptions that are difficult to predict, including some of which are out of our control. Consequently, our actual results, performance, and financial condition may differ materially from those indicated in the forward-looking statements. These risks and uncertainties include, but are not limited to, "Risk Factors" identified in our filings with the Securities and Exchange Commission, including, but not limited to, our most recently filed Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and any amendments thereto. Even if our actual results, performance, or financial condition are consistent with forward-looking statements contained in such filings, they may not be indicative of our actual results, performance, or financial condition in subsequent periods. This presentation is not an offer to sell or a solicitation of an offer to purchase securities by the Company. Any such offer or solicitation, if any, will only be made by means of offering documents (e.g., prospectus, offering memorandum, subscription agreement and or similar documents) and only in jurisdictions where permitted by law. Certain information contained herein has been provided by or obtained from third-party sources and has not been independently audited or verified by the Company. The Company makes no representation or warranty, express or implied as to the accuracy or completeness of information contained in this document, and nothing contained in this document is, or shall be relied upon as, a promise or representation by the Company. This presentation is not intended for any commercial purpose but strictly for educational or informational purposes only. Please note that some photographs and images appearing in this presentation are not necessarily those of the Company or accurate representations of its products or operations, but may be stock images, third-party operations, product mock-ups, and/or may have been edited for competitive or confidentiality reasons. Any third-party images not owned by the Company are used for non-commercial, illustrative, and educational 'fair use' purposes only. All images and trademarks are the property of their respective owners. LifeMD, Inc. 2019 - 2024 All Rights Reserved. 2 Life MD*#3Building the leading platform for comprehensive virtual healthcare End-to-end, compliance-first platform for direct-to- consumer virtual primary care. Early-mover advantage and partnership strategy create a deep competitive moat Affiliated 50-state medical group anchored by full-time providers who provide industry-leading, comprehensive virtual care ●Flexible and proprietary technology stack proven to support complex virtual care at scale 73% equity holder in WorkSimpli, a rapidly growing SaaS business in the document management space 850,000 Virtual Consults Conducted 215,000 Active Patients At Least $200M Revenue Guidance for 2024 250+ Employees Across the US Figures based on actual data thru 12/31/2023. 00#4Investment highlights ● Proven ability to operate at scale within large and growing addressable markets thanks to robust infrastructure • Differentiated, end-to-end technology platform and affiliated medical group supporting complex virtual primary care needs of 800-1,000 new patients per day ● Significant growth opportunities from joint ventures, strategic partnerships, and licensing transactions ⚫ EBITDA positive with $18-$22M of Adj. EBITDA forecast for 2024 and balance sheet capitalized to pursue strategy • High-margin products/services generating 85%+ consolidated gross margins • WorkSimpli providing high-margin recurring revenue with potential for significant exit value 9:41 My chart Evan Bates 32 years old 2021 2022 14 4 22 3 4 1 Dec Feb Mar May Jun Jul Mar 3, 2023 ⚫ Emergency room admission Health Presented with severe cough ⚫ Lab work normal ranges Medical records My provider Prescriptions Documents & links B Labs & imaging#5Telehealth can solve many of the biggest problems facing the U.S. healthcare system Timeliness Cost Need 1/3 of Americans don't have a primary care doctor, and the average wait time to see a family doctor is 20.6 days.1 Four in 10 U.S. adults say they have delayed or gone without medical care in the last year due to cost.2 Solution At LifeMD, the median time from scheduling to the first provider appointment is only 2 hours. Patients in all 50 states can see a LifeMD-affiliated provider for as little as $39/mo. via their PC or smartphone. Access Chronic Conditions Only 8% of Americans undergo routine, preventative screenings due mainly to issues with cost and access.³ Routine, preventive care is built into LifeMD's virtual primary care membership programs. 50% of the U.S. population has a chronic disease, and 86% of healthcare costs are attributable to chronic conditions.4 LifeMD's comprehensive care platform, combined with lab and in-home device partners, supports the ongoing needs of patients with chronic conditions. 1. Merritt Hawkins, 2022 Survey of Physician Appointment Wait Times, 2022, 2. Gallup website, Record High in U.S. Put Off Medical Care Due to Cost in 2022, 2022 3. F. Batarseh, I. Ghassib, D. Chong, P. Su Preventive healthcare policies in the US: solutions for disease management using Big Data Analytics, 2020 4. H. Holman The Relation of the Chronic Disease Epidemic to the Health Care Crisis, 2020 5 Life MD*#6A $170 billion total addressable market in the U.S. LifeMD's virtual care platform is addressing unmet needs in primary care and specialized healthcare. $170B U.S. Primary Care Market Male and Female Sexual Health Insomnia Weight Management Diabetes Management Cardiovascular Health R Com Integrative Health & Wellness Hormone Therapy Dermatology ACA Life MD* 6#7LifeMD has built an end-to-end platform for comprehensive virtual healthcare Patient Acquisition Internal creative, online/offline media buying, SEO, and CRM platform Diagnostics Integrations with Quest & LabCorp and in-home collection Business Intelligence Data & analytics platform to drive compliance, acquisition, and engagement Life MD* Telehealth iOS, Android, and desktop apps; 50-state affiliated medical group Patient Care & Retention ~150-person patient care center to support medical group, education, sales, and retention Pharmacy Mail-order and specialty cloud pharmacy integrations with third- party pharmacies 7 Life MD*#8Technology designed to provide Best-in-class experience and care for all stakeholders 9:41 Life MD* Schedule your appointment 9 Evan Bates, 40 Unlimited pl Appointment Me Action Details Chart Aug 5-4:00 pm PDT Appointment Pending Today Tomorrow ASAP Category General health-20 min Jan 23 Jan 24 -20 min wait Details Onboarding Complete о Dr. Jennell Giles Any available provider +Schedule an appointment Possible conditions: Middle ear infection Strong evidence Inflamation of external ear Patient messages Staff notes Mark complete Medical Support Sus General health Hello Evan, looking forward to our appointment Please complete your onboarding prior to the appointment if possible! Hello! Yes, I am working on that now May 15 pe I look forward to speaking with you. Opel p vid 7pm Patient message: Your patient will see what you write here in their "Care team" messages. Message patient. Attach tient info Templates 9:41 OPTAVIA. Welcome! We've designed a weight loss program specifically for OPTAVIAⓇ clients. Life MD* Get started today on prescription COREG CRⓇ with LifeMD. Weight Current 252 lbs Jul 23 Torget 214 lbs All Week Month Year View all health metrics Getting started Jul 24 1/2 Completed Weight Management Program Here's a brief summary of this link. Navigating Insurance Coverage for GLP-1 Medications FAQs Important Safety Information LifeMD can connect you with a medical provider who can write a prescription for FDA-approved COREG CR® if appropriate. Don't let high blood pressure hold you back. COREG CRⓇ can help manage the symptoms associated with high blood pressure, such as See If You Qualify > Get Started Now > 8 For Patients Patients benefit from an intuitive virtual care platform powered by a 50-state provider network, lab work partnerships, mail order pharmacy, and Al-powered tools. For Providers Streamlined workflow optimization with proprietary EHR and scheduling capabilities allow providers to focus on patient interactions that ensure the highest quality clinical care. For Partners Flexible partnerships with unique offerings are enabled by sophisticated de-identified data analytics, custom dashboards, and telehealth capabilities. For Industry Life sciences companies who partner gain access to robust direct-to- patient capabilities across marketing, and medication adherence and compliance. Life MD*#9Our affiliated medical group, staffed by full-time providers, is central to our success 99% 850K 200+ 4.9/5 Of consults start on time* Consults completed Different conditions LifeMD treats Average physician rating 98% 50 Dr. Gupta LifeMD Affiliated Provider Patients satisfied with their care State coverage "I love what I do because | get the pleasure of being a part of my patients' lives." +LifeMD Payel Gu *within 15 minutes for soonest available appointment during queue hours and within 2 minutes of scheduled appointment time slots#10Our success is driven by three core pillars DTC Telemedicine Virtual Primary Care B2B Solutions Subscription-based treatment + Rx Offerings Established, wholly-owned brands with large customer base • Supported by mail order pharmacy capabilities E.D., pain, dermatology, insomnia, allergy & asthma Services include primary care, urgent care, and chronic condition management Supported by affiliated 50-state Medical Group Lab work powered by integrations with Quest, Labcorp, and GetLabs Weight Management/GLP-1 Program Digital front-door strategies for healthcare product companies Telehealth services for payors and employers Zero-cost patient flow for LifeMD platform Comprehensive device- supported Cardiovascular Care Program 10 Life MD*#11Our track record of strategic focus and growth JUNE Acquired cloud- based telehealth technology platform 2016-2019 Built a DTC platform for proprietary healthcare products DECEMBER Launched RexMD, our first 50-state telemedicine offer JUNE Commenced tech build for LifeMD Virtual Primary Care (VPC) platform FEBRUARY Changed name of company to LifeMD NOVEMBER Launched VPC Platform AUGUST Launched Enterprise offering on VPC platform APRIL Launched GLP-1 offering on VPC platform December 2023 Executed $20M collaboration agreement with Medifast 2016-2019 2020 2021 2022 Q3 2023 Partnership with ASCEND Therapeutics and IQVIA 2023#12Clear strategy focused on scaling high-value revenue streams Virtual Primary Care RexMD Partnerships Key Priorities Continue to scale weight management/GLP-1 offering Launch cardiovascular health and hormone therapy offerings Launch commercial health insurance programs in 10 states Prepare Medicare/Medicaid infrastructure for 2024 deployment Goals High Value Revenue Streams With Long-Term Brand Equity Differentiated Telehealth Offerings With Strong Retention Double digit new patient growth in E.D. business Build and cross-sell patients to men's health primary care offerings 30%+ YoY Revenue Growth With ~25% Adj. EBITDA Margins Execute strategic partnerships in GLP-1 space Continue to build long-term partnerships with Life Sciences and health-related companies LifeMD Synonymous With Highest Quality, Affordable Virtual Care (tirzepatide) injection mounjaro™ 10 0.5 mL (semaglutide) injection wegovy NDC 0169-4524-0 2.4 mg/0.75 mL477211 OZEMPIC For Single Patient Use Only (semaglutide) injection List: 452401 2.4 mg For subcutaneou -0-ma 12 Life MD+#13WorkSimpli Software is rapidly growing and highly profitable • Rapidly growing, global provider of Workplace and document Software-as-a-Service offerings to consumers and small businesses specializing in the pdf, resume/ HR, digital signature and forms markets Over 158,000 subscribers with platform available in approximately 20 languages globally Full Year 2024 revenue forecast of $65 million, up 20% versus prior year • Highly profitable enterprise with Adjusted EBITDA margins exceeding 30% and Full Year 2024 Adjusted EBITDA forecast of $18-$20 million Scalable platform with capabilities to rapidly expand in adjacent verticals on existing platform and provide users one-stop pricing for and access to the full suite of platform offerings LifeMD maintains over 73% ownership in WorkSimpli with sizeable near-term cash flow back to LifeMD and potential for future significant exit value ● Separately led and managed by highly skilled and experienced management with a demonstrated track record in building related consumer technology businesses#14Our management team has deep experience leading innovative healthcare organizations Justin Schreiber Chief Executive Officer & Chairman JLS VENTURES Marc Benathen Chief Financial Officer EQUINOX blink ANN TAYLOR Stefan Galluppi Chief Innovation Officer NT1 Eric Yecies General Counsel & Chief Compliance Officer Holland & Knight GOODWIN Dennis Wijnker Chief Technology Officer dr. evidence CALYX Nick Alvarez Chief Acquisition Officer p Internet Brands® Our Board of Directors Jessica Friedeman Chief Marketing Officer healthgrades. IBM Watson 14 John Strawn Joseph DiTrolio, MD Naveen Bhatia Bertrand Velge Roberto Simon Bobby Jindal Joan LaRovere, MD William Febbo Life MD*#15Our businesses have experienced rapid, consecutive YoY Growth $200M 2024E Revenue Forecast 31% Forecast 2024 Growth $200M $65M $152M $54M $119M $36M $93M $25M Rate Versus 2023 $98M $83M $37M $68M $7M 850K+ $13M -$2M $30M Patients & Customers $11M To-Date 2019A 2020A 2021A 2022A I I I I | I I 198% 149% 28% 2023A 28% ☐ Telehealth WorkSimpli 31% $135M 2024E ☐#16Rapid growth in profitability after achieving adjusted EBITDA profit in Q4 '22 Annual consolidated adjusted EBITDA ($ millions) $20M $12M 2023A 2024E $(15)M ($38)M 2022A 2021A Note: Consolidated adjusted EBITDA includes Telehealth and WorkSimpli results. 2024 Forecast is based on the midpoint of the 2024 guidance range of $18 million to $22 million for Adjusted EBITDA 16 Life MD*#17Rapidly expanding gross margins and increasing leverage on marketing spend driving continued growth in profitability Consolidated Gross Margin % Marketing Expenses as % of Net Revenue 90% 89% 88% 87% 86% 85% 84% 83% 82% Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Net Revenue ($ Millions) 44 41 38 72% 35 32 29 26 23 0122222 55% 125% 62% 100% 51% 75% 50% 54% 45% 50% 25% 0% Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 17 Marketing cost as % of net revenue includes Telehealth and WorkSimpli results. Life MD*#182024 guidance reflects substantial increases in both revenue and profitability Telehealth Revenue FY 2024 GUIDANCE FY 2023 ACTUAL DELTA $135 million $98 million +38% WorkSimpli Revenue $65 million $54 million +20% Consolidated Revenue $200 million $152 million +31% Consolidated Adj. EBITDA $20 million $12 million +67%#19In summary • Significant presence within established and growing addressable markets • Proprietary technology platform differentiated by leading 50-state, affiliated physician network • High margin products/services generating 85%+ consolidated gross margins • Powerful telehealth infrastructure enabling highly scalable differentiated offerings • Free cash flow breakeven with expanding adjusted EBITDA margins • Diversified, non-cyclical revenue streams covering numerous healthcare areas + Anony Purple 13:00 2:00 MD Tasks y • All 12 Appointments 2 Post-consult + Dashboard Tasks Evan Bates 02:34 Patient Date Patient Me Evan Bates, 40 Weight Monogement • Renewal Me = Aug 3-3:12 pm PDT Category 2nd renewal Details Chart Actions ✓ Mark complete Require appointment Prescribe compound Prescription Wegovy Sig 0.10 ml (0.25 mg 50 mcg] weekly Qty Prescribed 7/13/2023 Renews 8/10/2023 Renewal 2nd Weight Side effects -4 lbs Last renewal: 245 lbs Current: 225 lbs None 8% from start Jul 10 Current time: 114 in PDT John Doe, 35 9:30 am PDT in 6 min) Result Change time com Patient messages Staff notes <Slim nav 1101 John Doe, 35 Yesterday 10:30am PDT Request Medical Support SMS John Doe, 35 Aug 12-10:30am PDT Appointment: Mis Week Month Year General health Current 225lbs Aug 10 19 Life MD*#20Appendix 20 20 Life MD*#21Reconciliation of GAAP Net Loss to Adjusted EBITDA (in whole numbers, unaudited) Fourth Quarter Ended December 31, 2023 2022 Year Ended December 31, 2023 2022 Net loss attributable to common shareholders Interest expense (excluding amortization of debt discount) Depreciation, amortization and accretion expense Amortization of debt discount Loss (gain) on debt extinguishment Financing transactions expense Litigation costs Inventory and reserve adjustments Deferred revenue adjustment Severance costs Acquisitions expenses Change in fair value of contingent consideration $ (4,508,664) $ (12,711,912) (23,702,242) $ 522,241 1,959,468 728,856 1,340,626 1,755,656 6,767,447 (48,641,909) 820,946 4,044,056 100,444 333,939 325,198 (63,400) 38,431 98,333 773,932 250,348 168,600 168,162 1,594,930 1,685,521 404,694 699,057 637,324 929,718 2,918,942 2,918,942 17,400 30,909 181,824 25,092 360,914 127,539 158,047 (2,614,000) Goodwill and intangible asset impairment charges 6,127,596 392,692 (5,101,000) 8,862,596 Insurance acceptance readiness 252,250 318,884 Sarbanes Oxley readiness 151,248 199,824 Accrued interest on Series B Convertible Preferred Stock 114,685 506,991 Foreign exchange (gain) loss 368,793 393,147 1,165,412 455,000 1,078,389 Taxes 428,000 360,700 Dividends 1,399,560 812,562 Stock-based compensation expense 3,645,607 1,884,614 Net income attributable to noncontrolling interests Adjusted EBITDA 509,880 360,168 498,378 5,371,450 12,489,343 2,756,935 360,700 3,250,250 13,734,614 514,632 $ 5,488,861 990,899 $ 11,976,540 (14,146,991)#22Life MD* Company Contact Marc Benathen [email protected] Media Contact [email protected]