#1Livongo™ Empowering People with Chronic Conditions to Live Better and Healthier Lives May 19, 2020 Investor Presentation#2Livongo™ Disclaimer This presentation has been prepared by Livongo Health, Inc. ("Livongo") for informational purposes only and not for any other purpose. Nothing contained in this presentation is, or should be construed as, a recommendation, promise or representation by the presenter or Livongo or any officer, director, employee, agent or advisor of Livongo. This presentation does not purport to be all-inclusive or to contain all of the information you may desire. This presentation includes express and implied "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terms such as "anticipate," "believe," "estimate," "expect," "intend," "may," "might," "plan," "project," "will," "would," "should," "could," "can," "predict," "potential," "continue," or the negative of these terms, and similar expressions intended to identify forward-looking statements. However, not all forward-looking statements contain these identifying words. Forward-looking statements in this presentation include, but are not limited to, statements regarding expected revenue, adjusted EBITDA and estimated value of agreements conversion to revenue. These statements may relate to our future financial performance, strategic plans or objectives, revenues or earnings projections, or other financial items. By their nature, these statements are subject to numerous uncertainties, including factors beyond our control, such as Livongo's ability to support its Members and offer additional programs during the COVID-19 pandemic, continuing and developing effects of COVID-19 including the effects of the outbreak on the general economy and the specific economic effects on Livongo's business and that of its Clients, Members and suppliers, and Livongo's future financial performance, as well as the risks detailed in Livongo's Annual Report on Form 10-K for the year ended December 31, 2019 and Livongo's Quarterly Report on Form 10-Q that will be filed following this presentation. These factors could cause actual results, performance or achievement to differ materially and adversely from those anticipated or implied in the statements. You should not rely upon forward-looking statements as predictions of future events. Although our management believes that the expectations reflected in our statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances described in the forward-looking statements will be achieved or occur. Moreover, neither we, nor any other person, assumes responsibility for the accuracy and completeness of these statements. Recipients are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date such statements are made and should not be construed as statements of fact. Except to the extent required by law, we undertake no obligation to update these forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events. This presentation also contains estimates, internal assumptions and other statistical data made by independent parties and by us. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. In addition, projections, assumptions, and estimates of our future performance and the future performance of the markets in which we operate are necessarily subject to a high degree of uncertainty and risk. Our target results are the view of management. We can provide no assurances that any of these targets will be achieved. In addition to the GAAP financials, this presentation includes certain non-GAAP financial measures. The non-GAAP measures have limitations as analytical tools and you should not consider them in isolation or as a substitute for the most directly comparable financial measures prepared in accordance with GAAP. There are a number of limitations related to the use of these non-GAAP financial measures versus their nearest GAAP equivalents. Other companies, including companies in our industry, may calculate non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison. We urge you to review the reconciliation of our non-GAAP financial measures to the most directly comparable GAAP financial measures set forth in this presentation, and not to rely on any single financial measure to evaluate our business. The forward-looking Adjusted EBITDA excludes (i) depreciation and amortization, (ii) amortization of intangible assets, (iii) stock-based compensation expense, (iv) lock-up related payroll taxes, (v) acquisition-related expenses, (vi) change in fair value of contingent consideration, (vii) other income, net, and (viii) provision for (benefit from) income taxes, the effect of which may be significant. We have not reconciled adjusted EBITDA guidance to GAAP net income (loss) because we do not provide guidance on GAAP net income (loss) or the reconciling items between adjusted EBITDA and GAAP net income (loss) as a result of the uncertainty regarding, and the potential variability of, certain of these items, the effect of which may be significant. Accordingly, a reconciliation of the non-GAAP financial measure guidance to the corresponding GAAP measure is not available without unreasonable effort. This presentation shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The content of this presentation is subject to copyright, which will be asserted by Livongo, and no part of this presentation may be reproduced, stored in a retrieval system, or transmitted in any form or by any means without prior permission in writing from Livongo. 2#3►Livongo™ We use technology to transform the experience of living with a chronic condition. We create a consumer-first, data-driven digital health experience that is personalized and puts the consumer in charge. We are the pioneer in Applied Health Signals, translating data into actionable, personalized and timely signals to improve Member outcomes and financial savings. Our mission is to empower people with chronic conditions to live better and healthier lives. We started with diabetes, but now address hypertension, prediabetes, weight management, and behavioral health. Our Members love us because we provide an experience that includes personalized analytics, real-time coaching, hardware, and supplies. We do this for the country's largest self-insured employers, payors, health plans and government with a per participant per month subscription service. Livongo™ 3#4Healthcare is Ready for a New Kind of Experience Content Community Commerce Care Google Facebook Amazon Livongo™ Livongo™ We use technology to bring the Internet to Health and Care 4#5One of the Largest Healthcare Problems in the World... Chronic Conditions 147M Adults in the US have a chronic condition and 40% have more than one¹ ~90% US healthcare spend attributable to people with chronic and behavioral health conditions $3.7T Annual total cost to the US economy from chronic conditions² Livongo™ $46.7B Immediately Addressable Total Market Opportunity: Diabetes and Hypertension³ Notes: 1) As of 2014 2) Based on 2018 Milken Institute study 3) Calculation based on 147MM people in the U.S. with a chronic condition: 31.4M people with diabetes at $900 PPPY; 39.6M people with Hypertension at $468 PPPY. See slide 6 for additional information. LO 5#6Our Immediately Addressable Markets 147MM people in the U.S. have a Chronic Condition People with Diabetes (¹) People with Hypertension (²) 31.4 MM × $900 PPPY = $28.2B 39.6 MM × $468 PPPY = $18.5B $46.7B Total Opportunity Livongo™ Notes: 1) Diabetes population includes 13.7MM people covered by their employer, 12.7MM people covered by Medicare and 5.0MM people covered by Medicaid 2) Hypertension population does not include people with both hypertension and diabetes, which is approximately 74% of people with diabetes or 23.2MM people in the U.S. Hypertension population includes 27.4MM U.S. adults covered by their employer plus 12.2MM U.S. adults covered by Medicare/Medicaid 6#7We Are Just Getting Started 328,000* Livongo for Diabetes Members *As of March 31, 2020 Livongo™ 31,400,000 People with Diabetes +500K People newly diagnosed with Diabetes per Year 7#8We Are Changing What it Feels Like to Have a Chronic Condition 99.9% of time is spent alone outside of the Healthcare System Healthcare Before SCARED & ALONE MUST ORDER & PAY FOR SUPPLIES WRITE EVERYTHING & TRACK YOURSELF FEELING JUDGED AT EVERY STEP O O O With Livongo NEVER ALONE | ANSWERS 24 X 7 EQUIPMENT & SUPPLIES JUST ARRIVE LIVONGO KEEPS DATA YOU CAN SHARE NEVER ANY JUDGMENT, ONLY EMPATHY Livongo™ 8#9Data Drives Personalized Outcomes xx More Members → More interactions Better results Targeted enrollment results in 34% sign-up rate Over 40% of Members benefit from nudges to drive behavior change Personalized and scalable coaching Remove Med barriers and increase Med usage 4.5% Livongo™ 9#10Our Al + Al Engine Powers Our Platform Claims data Blood HealthKit pressure data Dexcom® Weight da ta Food/Beverage log Anxiety reduction Blood glucose reduction Blood pressure reduction Blood glucose data AGGREGATE C ITERATE MEMBER Group coaching: anxiety reduction APPLY INTERPRET Group coaching preference aws Touch screen blood glucose meter Anxiety support Livongo™ WATCH ♥CVS pharmacy Voice activated blood pressure cuff Cerner 10#11Remote Monitoring Drives Results that Matter Satisfaction +64 average Member NPS(1) Outcomes Member Improvements(2) HbAlc Systolic BP Weight loss DASS 0.8 points 10mmHg 7.3% 55% Savings $1,908 per participant per year gross medical savings in diabetes(3) Notes: 1) NPS as of December 31, 2019 2) Demonstrated at Fortune Brands after their Members spent 2 years enrolled in the Livongo for Diabetes solution over a 6-week period in individuals with BP of at least 140/80 in a peer- reviewed study prepared by Livongo and presented to the American College of Cardiology in April 2019; Average reduction in weight for Members who used Livongo's solution for 12 months as of December 1, 2018; Depression Anxiety Stress Scale improvement shown in 55% of Members from the time of enrollment as of March 31, 2019 3) $129 in medical savings plus supply cost savings (assumed to be $1 per test strip, used once a day) Livongo™ 11#12Remote Monitoring Maximizes Virtual Care Connected Devices 2.3 154 80. Capture Data Livongo Livongo 118- 84- 74 24/7 Remote Monitoring Health Summary Report Data Access to Providers Joseph Anderson M20 d 30 186 101 ng G By & Trendus M reach and intervention · . Man C - - . . Livongo™ Clinical Portal Livongo 12#13Proven Virtual Coaching 57% of Members who took a Health Nudge TM found it valuable 2.0x Stress button since January 2020 10:22 AM SAT, FEB 7 121 I feel fine Stressed out I don't feel well After exercise Increased Missed meds meds mg/dL Light headed Ate more Other Livongo 12:20 PM Messages Talk to a Livongo Coach Sonia E. Mar 29 Hey Riley, I noticed your blood pressure has been... Food Log Feedback Jen R. Mar 29 Nice work incorporating lean proteins into your lunch.... Need help with your account or have technical issues? Contact Member Support. 3.802 Coaching 140/82 Livongo™ 2.7x Coaching session increase. since January 2020 2020 Ⓒ Livongo. All rights reserved. Confidential.#14Multiple Competitive Moats trust Al+Al Data Engine Livongo Team Leading Consultants Leading Health Plans Top PBMs MORE DATA WIDER ECOSYSTEM FASTER TO MARKET Livongo™ experience Constantly growing competitive distance, propelled by improving Client trust and Member experience. 14#15Mastery of the Ecosystem Livongo® Direct Relationship with Client Pharmacy benefit manager ♥CVSHealth Health plan (e.g., BCBS Michigan, HCSC) EXPRESS SCRIPTS (e.g., Mercer, Channel partner Willis Towers Watson) Direct Relationship with Member Member Multiple channels to reach our Clients Livongo™ Client 15#16A Diversified Base of Blue-Chip Clients 1,252 Clients & >328,000 Members Added 380 new Client relationships and over 105,000 Livongo for Diabetes Members in Q1 2020 Notes: Clients and Members as of March 31, 2020 Over 30% of the 2018 Fortune 500 companies are current Clients Livongo™ 16#17An Experienced Leadership Team Built for Scale Glen Tullman Executive Chairman INFORMATION Allscripts CCC SERVICES INC. Dave Engberg Chief Technology Officer Evernote Amar Kendale Chief Product Officer Amc10 Scientific Boston GUIDANT Zane Burke Chief Executive Officer Cerner Anmol Maden Chief Data Scientist Ginger.io Bimal Shah Chief Medical Officer PREMIER DUKE UNIVERSITY HEALTH SYSTEM Dr. Jennifer Schneider President TESLA Castlight Arnnon Geshuri Chief People Officer TGoogle EXTRADE Stanford Hospital & Clinics Jim Pursley Chief Commercial Officer care innovations™ an Intel GE company Livongo™ Lee Shapiro Chief Financial Officer Allscripts medidata Michael Sturmer SVP of Health Services Cigna. Courtnee LeClaire Chief Marketing Officer (intel RAIDERS Disney 17#18O PEY FINANCIAL HIGHLIGHTS#19Financial Highlights High revenue growth Attractive recurring revenue business model Favorable gross margin profile Significant customer traction Strong land and expand & renewals 1) ● ● ● ● ● One of the largest CAGRS among publicly traded SaaS companies Q1'20 Revenue of $68.8M, up 115% Predominance of revenue is per participant per month Estimated Value of Agreements¹ signed in Q1'20 of $89M Gross margins in the 70's Ended Q1'20 with 1,252 Clients, up 44% quarter-over- quarter Livongo™ Dollar-based net expansion rate was over 110% as of March 31, 2020 Estimated Value of Agreements was previously referred to as Total Contract Value. We define Estimated Value of Agreement as contractually committed orders to be invoiced under agreements initially entered into during the relevant period. Estimated Value of Agreement includes agreements entered into with new clients or expansion opportunities entered into with existing clients during a given period. Livongo adjusts these assumptions regularly based on new data and a high degree of judgment is required for such assumptions. 19#20Member and Revenue Growth Clients: 218 Members: 54K 12M BG Checks 2017 Members¹ Clients: 413 Members: 114K ¹Livongo for Diabetes Members only 31M BG Checks 2018 Clients: 872 Members: 223K 73M BG Checks 2019 Clients: 1252 Members: 328K 87M BG Checks. Q1'20 115% growth $46.7 $40.9 illl Q3'19 $32.1 Q1'19 Revenue ($M) Q2'19 $50.2 Q4'19 Livongo™ $68.8 Q1'20 20#21Organic Growth Drivers Increase product density Penetrate new markets and cross sell additional solutions to existing Clients Diabetes Hypertension Prediabetes & weight management Behavioral health Notes: 1) After 12 months for Clients who began enrollment in a given year 2) 2019 Fortune 500 Expand Client base Increase penetration in our markets by continuing to win new Clients >30% CURRENT CLIENTS FULLY INSURED EMPLOYERS FORTUNE 500 58M 99M 42M 64M LIVES LIVES BENEFICIARIES BENEFICIARIES SELF INSURED EMPLOYERS 2 MEDICARE MEDICAID Livongo™ 21#22Our 2020 Outlook Revenue Fiscal 2020 Q2'20 Adjusted EBITDA Fiscal 2020 Q2'20 Low $290M $73M Low $(14M) $(2.0M) High $303M $75M High Growth $0 +70% to 78% +78% to 83% Margin Chg. $(10M) +7 to 8.5 pts YOY Livongo™ 22#23111 Livang 512 & thongs 2019 JDRF Ride 111 Livongan Riders Livon "Livongo's spirit of innovation and determination is seemingly always on display, and the company's leadership and fundraising efforts play an important role in bringing us closer to a cure." Aaron J. Kowalski, Juvenile Diabetes Research Foundation President and CEO AL M WWP Largest Riding Team in JDRF History $254,000 Raised for the JDRF Ride to Cure Diabetes WA © Live-ge Si là không 377 Thank You. Livingo vango Livonge#24GAAP to Non-GAAP Reconciliation LIVONGO HEALTH, INC. RECONCILIATION OF GAAP TO NON-GAAP MEASURES (in thousands, except percentages) (unaudited) Cost of revenue Gross profit Gross margin Research and development Sales and marketing General and administrative Change in fair value of contingent consideration Total operating expenses Income (loss) from operations Income (loss) before provision for income taxes Net income (loss) Net income (loss) attributable to common stockholders Net income (loss) per share attributable to common stockholders, diluted Weighted-average shares used in computing net income (loss) per share attributable to common stockholders. diluted GAAP $ 18,108 $ $ 50,715 $ 73.7% Stock-Based Compensation Expense $ 13,997 5 $ 27,655 S $ $ 15,846 $ 84 S $ 57,582 S $ (6,867) $ $ (5,552) $ $ (5,573) $ $ (5,573) (0.06) $ 95,543 Amortization of Intangible Assets (92) S 92 $ (2.216) $ (2,052) $ (3.703) $ $ (7.971) S 8.083 S 8.083 $ 8.083 $ Three Months Ended March 31, 2020 8,083 $ (420) S 420 $ (276) - (276) 696 696 696 696 S $ $ 69 69 69 69 60 $ Lock-Up Related Payroll Taxes Change in Fair Value of Contingent Consideration S S (153) S (167) $ (280) S 800 $ (800) S 800 S 800 $ 600 $ 69 S S S $ 3 (84) S (84) $ 84 S 84 $ 84 S 84 $ Tax Impact Livongo™ $ 17,596 $ 51,227 $ $ Non- GAAP $ $ 11,628 $ 25,160 $ 11,863 $ $ $ 74.4% - 48,651 2,576 3,891 3,870 3,870 0.03 112,278 24