#1NUTEX HEALTH EALTH || STRICTLY PRIVATE AND CONFIDENTIAL#2Disclaimer General The information contained in this Investor Presentation (“Presentation”) has been prepared by Nutex Health Inc. (“NUTX” or the “Company”) for investors, solely for informational purposes. The Presentation has been prepared to assist prospective investors in making their own evaluation of the Company and does not purport to be all inclusive or to contain all of the information a prospective or existing investor may desire. The Presentation shall not form the basis of any contract or commitment. Information provided in this Presentation speaks only as of the date hereof and is subject to change. In all cases, interested parties should conduct their own investigation and analysis of the Company and the data set forth in this Presentation. This Presentation does not constitute investment, legal, tax or other advice, and does not take into consideration the investment objectives, financial situation or particular needs of any particular investor. Nothing set forth herein should be regarded or relied upon as a representation, warranty or prediction that NUTX will achieve or is likely to achieve any particular future result. While NUTX are not aware of any misstatements regarding any information in this Presentation, NUTX or any of its respective affiliates, officers, directors or representatives makes any representation or warranty, express or implied, as to the accuracy or completeness thereof. Readers of this Presentation should consult their own counsel and tax and financial advisors as to legal and related matters concerning the information described herein. This Presentation does not purport to contain all the information or factors that may be required to make a full analysis of NUTX. Viewers of this Presentation should each make their own evaluation of NUTX and of the relevance and adequacy of the information and should make such other investigations as they deem necessary. This Presentation also contains estimates and other statistical data made by independent parties and by NUTX relating to market size and growth and other data about NUTX's industry and peer companies. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. To the fullest extent permitted by law, in no circumstances will NUTX or any of its subsidiaries, affiliates, representatives, directors, officers, advisers or agents be liable for any direct, indirect or consequential losses arising from the use of this Presentation, the information contained within this Presentation, or otherwise arising in connection there with, including any investment in shares of NUTX. In addition, projections, assumptions, and estimates of NUTX's future performance and the future performance of the markets in which NUTX competes are necessarily subject to a high degree of uncertainty and risk. CONFIDENTIAL 2#3Forward looking statements Certain statements and information included in this Presentation constitute "forward-looking statements" within the meaning of the Private Securities Litigation Act of 1995. When used in this Presentation, the words or phrases "will", "will likely result," "expected to," "will continue," "anticipated," "estimate," "projected," "intend," "goal," or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, many of which are beyond the control of the Company. Such uncertainties and risks include, but are not limited to, our ability to successfully execute our growth strategy, changes in laws or regulations, including the interim final and final rules implemented under the No Surprises Act, economic conditions, dependence on management, dilution to stockholders, lack of capital, the effects of rapid growth upon the Company and the ability of management to effectively respond to the growth and demand for products and services of the Company, newly developing technologies, the Company's ability to compete, conflicts of interest in related party transactions, regulatory matters, protection of technology, lack of industry standards, the effects of competition and the ability of the Company to obtain future financing. An extensive list of factors that can affect future results are discussed in the Current Report on Form 10-Q for the period ended September 30, 2022 under the heading "Risk Factors" in Part I, Item IA thereof, and other documents filed from time to time with the Securities and Exchange Commission. Such factors could materially adversely affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed within this Presentation. CONFIDENTIAL 3#4Agenda 1 Company Overview 2 Addendum - Our innovative model 3 Addendum - Population health strategy and capabilities CONFIDENTIAL 4#5Management team with deep experience in healthcare Thomas T. Vo, M.D., MBA Chief Executive Officer HOUSTON Beaumont Methodist LEADING MEDICINE Michael Chang, M.D. Chief Medical Officer HOUSTON TEXANS VANDERBILT UNIVERSITY Warren Hosseinion, M.D. President CLINIGENCE HOLDINGS apollomed Lawrence Schimmel, M.D. Chief Medical Information Officer CLINIGENCE QualMetrix HOLDINGS Jon Bates, MBA, CPA Chief Financial Officer Usph U.S. PHYSICAL THERAPY, INC. Commerciant Elisa Luqman, J.D., MBA Chief Legal Officer (SEC) & Secretary iGambit CLINIGENCE HOLDINGS Denise Pufal Director of Operations SURGERY SPECIALTY HOSPITALS OF AMERICA Pamela Montgomery, R.N., J.D. Chief Legal Officer (Healthcare) & Secretary TEXAS WOMAN'S HCA* Healthcare UNIVERSITY Texas Children's Hospital CONFIDENTIAL LO 5#6Nutex at-a-glance ■ Owns and operates comprehensive and integrated care delivery platform comprised of: ■ Hospital Division Patient-centric network of micro-hospitals, specialty hospitals, and hospital outpatient departments Represents ~90% of Revenue ■ Population Health Management Division MSO - - - Risk-bearing provider networks / IPAS1 Cloud-based population health analytics platform ■Aligned physician incentive model Rewards quality of care to patients ■ Provides long-term alignment through shareholder ownership structures - Majority of common shares held by Nutex physicians Significant differentiator for physician recruitment and delivers high physician retainment 1 IPA refers to Independent Physician Associations. Company highlights 22 owned and operating facilities 22,000+ lives under management 800+ physicians 3.1M active patient records on the population health. platform >95% physician retention rate 10,700+ data sources CONFIDENTIAL 6#7Overview of Nutex's innovative micro-hospitals Differentiation from traditional hospital offerings What we do Where we are Our care model How we make money Services Size & Beds Unit Economics Provide immediate and convenient access to both emergency services and in-patient services Staffing Benefit from significant operating leverage within overall business and at facility level Predominantly located in suburban and underserved areas with limited access to healthcare services Proven start-up playbook Fulfills an underserved healthcare segment for access to primary and emergency care Patient-friendly and cost-effective setting Wait times drastically lower than traditional ER settings Best-in-class care delivered by friendly and attentive teams ‒‒‒‒‒‒‒‒‒ ‒‒‒‒‒‒‒‒‒‒‒‒‒‒ Reimbursed by private insurance companies as a hospital provider ✓ > 90% commercial payor mix Emergency, inpatient care, outpatient imaging, outpatient labs, minor procedures, etc. Hospital treats and discharges over 90% of all ER patients ■ -18,000 sq ft 4-10 in-patient beds; 6-10 emergency rooms ■ Break even is 15-20 patients per day ■ Cash Flow positive at around 13 months (Post NSA) ■ Cap EX is $3.5-$4 mm per facility ■ Staffing is 1 ER Physician with an on-call Hospitalist 24/7 ■ RNs, Radiology Technologists, EMT at all times Award winning and highly rated service ALT Best Emergency Room 2021 Best Hospital 2021 TULSA ER & HOSPITAL WINNER CENLA'S CHOICE Best Specialty Hospital D ALEXANDRIA EMERGENCY HOSPITAL PANORTE Jana Bo PATIENTENANCE Top Three in Best ER Hospitals TUCSON ER & HOSPITAL azcentral Top Work Places 2021 PHOENIX ER & MEDICAL HOSPITAL TEXARKANA EMERGENCY CENTER 405 The Faces of Emergency Care 2021 OKLAHOMA ER & HOSPITAL Nutex patient testimonials 3 months ago Very fast! Professional! Extremely clean! Super friendly! I will always choose this place above all others. This was my 3rd time to use. I've had different team every time with the same excellent care! State-of-the-art hospitals maximize the patient experience Average Google review: 4.8 stars Average Facebook review: 4.8 stars CONFIDENTIAL 7#8All stakeholders win with our model Patients Immediate and convenient access to emergency services Superior patient experience and clinical outcomes Median in-network rates / no balance billing Superior patient experience and quality of care + Clinicians & Staff Alignment of financial incentives Micro-hospital division High satisfaction and retention rates Robust administrative back- office support Hospital systems / communities High work satisfaction and retention rates Reduced burden on traditional emergency room systems Advent of local competition spurs improvement in quality across broader system Increased public trust in local healthcare ecosystem Value Add For All Key Constituents Additional access points to convenient, high quality emergency care Payors Increased supply of care No incremental cost to the payor as a result of the No Surprises Act Positive impact on acute care reduces downstream complication risk Lower health care costs CONFIDENTIAL 8#9We exist to address the challenges facing health care today -S- x X Unsustainable rising cost of care Current situation ME ď 7+ High volume emergency room visits Lack of convenience Emergent viruses x Existing challenges 1888: * Overwhelming ~140 million visit burden on limited ER infrastructure * Traditional hospital or ER settings can be unpleasant¹ Lack of providers and staff, particularly regarding primary and emergency care +888 * Wait times tend to be very long (>100 minute median wait time) 1 Source: U.S. News, 10 States with the Longest Emergency Room Waits 2 Source: CDC, National Hospital Ambulatory Medical Care Survey: 2018 Emergency Department Summary Tables * Multiple waves of COVID-19 expected by epidemiologists, coupled with flu and now RSV emergencies 888: X Key attributes of our solution Elderly population ✓ Network of strategically located micro-hospitals across the U.S. to service ER visits at equivalent cost ✓ Open 24 hours a day, seven days a week ✓ Wait times averaging less than 10 minutes Extensive expertise honed through COVID-19 pandemic equipping company to handle multitude of cases CONFIDENTIAL 9#10Our focus areas represent a massive market opportunity Population Health Value-Based Care Total Addressable Market -$280bn+ Targeted Addressable Market ~$110bn+ ● ● Expansive additional addressable market with population health strategy Total Emergency Department Market All payors All levels of acuity Targeted Emergency Department Market Commercial pay ED visits Mid-acuity (emergent to semi-urgent) Source: U.S. Department of Commerce, U.S. Department of Health and Human Services Centers for Disease Control and Prevention, National Hospital Ambulatory Medical Care Survey: 2018 Emergency Department Summary Tables Note: 2022 Segal Health Plan Cost Trend Survey Report indicates the average cost of an ER visit to be as high as $1,900 CONFIDENTIAL 10#11How we got here Developing a Thesis Pre-2008: ■ Dr. Vo develops patient- centric philosophies for emergent medicine inspired by 20+ years as ER physician 2008-2011: ■ Dr. Vo opens various Emergency Centers in Houston 2011: ■ Nutex Health is founded 2014: ■ Tyvan LLC, a billing and coding company, is established Building Nutex Year # of Facilities # of States Milestones 2015 1 1 Opened first micro- hospital facility in Texarkana, TX 2016-2018 5 1 Continued expansion in Texas by adding 4 new facilities 2019-2020 17 8 Strong de-novo growth; added 12 micro- hospitals across 7 new states 2022E Nutex built via a methodical expansion strategy, powered by unparalleled industry expertise 21 9 Continued expansion in existing states, development of pop health platform in CA CONFIDENTIAL 11#12Reverse Merger to Create a Unique and Innovative Facility Value Based Platform NUTEX Transaction overview Rationale HEALTH Micro-hospitals CLINIGENCE HEALTH Value-based care Nutex Health announced a reverse merger with Clinigence Holdings ■ Clinigence is a publicly traded technology-enabled population health management company whose platform combines medical management, data analytics and risk-bearing provider networks ■ Announced November 2021 and closed effective April 2022 ■ Creates a leader in population-based value-based care Integration of Nutex's micro-hospital platform with the data and population health management services of Clinigence to drive attractive growth and operating synergies CONFIDENTIAL 12#13Our vision is to create an integrated, risk-bearing delivery model Integrated care delivery model, combining technology-enabled next gen primary care capabilities with a national patient-centric network of micro-hospitals... NUTEX HEALTH Network of micro-hospitals Robust back- office teams K Billing & collections E 119 + Patient-centric healthcare provider Today Micro-hospitals X Dol Technology enabled value-based network * Future State Value-based care Risk-bearing provider networks M MSO services Data analysis ...resulting in the first-of its kind risk-bearing population health management company driving quality clinical outcomes CONFIDENTIAL 13#14Case study: Houston, TX ■ > M Premier Primary Care LLC Ahmad T Muhammad MD PLLC MM Alam MD PLLC Superior Plus Family Clinic LLC Texas Family Geriatric Clinic INC You OO Catalyst Home Health Family Healthcare Network LLC CO Synergistic Value-Based IPA with a Facility Model United Memorial Medical Center Group Ruan Medical Group PLLC # Northeast Medical Associates PA + German Ramos MD PA Remix Medical PLLC United Memorial Medical Center Group THA Haider Afzal MD PA SE TEXAS ER & HOSPITAL + V Houston Physicians IPA is our risk-bearing provider network that is "wrapped around" the SE Texas ER & Hospital Nutex plans to use a similar strategy as a growth portal for applicable current and future hospitals around the country Wraparound IPA Network Value Proposition: ■ Potential to lower Medical Loss Ratio (MLR) ■ Drives higher patient volumes through increased referrals, increased capitation and full-risk contracts. ■ Data capabilities streamline care delivery and optimize outcomes. ■All-around care and management of micro-hospital patient populations. 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