#1OPRIVIA HEALTH Empowering Physicians TRANSFORMING HEALTHCARE Investor Presentation April 2021 E10.9#2Safe Safe Harbor Important Notice and Disclaimers This presentation and the information contained herein constitutes confidential information and is provided to you on the condition that you will hold it in strict confidence and not reproduce, disclose, forward or distribute it to any third party in whole or in part without the prior written consent of Privia Health Group, Inc. ("Privia", "Privia Health" or the "Company"). We have filed a registration statement on Form S-1 (including a preliminary prospectus) with the Securities and Exchange Commission (the "SEC") for the offering to which this presentation relates. The registration statement has not yet become effective. Our securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. Before you invest, you should read the preliminary prospectus and the other documents we file with the SEC for more complete information about us and the offering to which this presentation relates. You can obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the preliminary prospectus may be obtained from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526 or by email at [email protected]; or J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at (866) 803-9204 or by email at [email protected]. Forward-Looking Statements: This presentation contains forward-looking statements that reflect the Company's current views with respect to, among other things, its operations, its financial performance, its industry and the impact of COVID-19 on its business. Forward-looking statements include all statements that are not historical facts. In some cases, you can identify these forward-looking statements by the use of words such as "outlook," "believe(s)." "expect(s)." "potential," "continue(s)," "may," "will," "should," "could," "would," "seek(s)," "predict(s)," "intend(s)," "trends," "plan(s)." "estimate(s)," "anticipates," "projection," "will likely result and/or the negative version of these words or other comparable words of a future or forward-looking nature. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. Market and Industry Data: This presentation includes market and industry data and forecasts that the Company has derived from independent consultant reports, publicly available information, various industry publications, other published industry sources, and its internal data and estimates. Independent consultant reports, industry publications and other published industry sources generally indicate that the information contained therein was obtained from sources believed to be reliable. Although the Company believes that these third-party sources are reliable, it does not guarantee the accuracy or completeness of this information, and the Company has not independently verified this information. The Company's internal data and estimates are based upon information obtained from trade and business organizations and other contacts in the markets in which the Company operates and management's understanding of industry conditions. Although the Company believes that such information is reliable, it has not had this information verified by any independent sources. Non-GAAP Financial Measures: This presentation contains the financial measures of Adjusted EBITDA, Care Margin, Free Cash Flow, Platform Contribution and Platform Contribution Margin, which are not required under generally accepted accounting principles in the United States ("GAAP"). The Company believes that these non-GAAP financial measures provide users of its financial information with useful supplemental information that enables a better comparison of its performance across periods. The Company defines Adjusted EBITDA as net income (loss) attributable to Privia Group Inc. shareholders and subsidiaries excluding minority interests, provision (benefit) for income taxes, interest income, interest expense, depreciation and amortization, stock-based compensation, severance charges and other non-recurring expenses. The Company considers Adjusted EBITDA to be an important measure because it helps illustrate underlying trends in its business and its historical operating performance on a more consistent basis. The Company defines Care Margin as total revenue less the sum of physician and practice expenses. The Company considers care margin as all of the dollars available to manage its business, and believes that this non-GAAP financial measure, when taken together with the corresponding GAAP financial measures, provides meaningful supplemental information regarding its performance by excluding certain items that may not be indicative of its business, results of operations or outlook. The Company defines Free Cash Flow as EBITDA minus capital expenditures. The Company believes that Free Cash Flow provides useful information regarding how cash provided by operating activities compares to the capital expenditures required to maintain and grow its business. The Company defines Platform Contribution as total revenue less the sum of (i) physician and practice expense and (ii) cost of platform. The Company defines Platform Contribution Margin as Platform Contribution divided by Care Margin. The Company considers both Platform Contribution and Platform Contribution Margin to be important measures to monitor its performance, specifically as it relates to the pricing of its services, direct costs of delivering care, and cost of its technology-enabled platform and associated services, and believes that Platform Contribution and Platform Contribution Margin, when taken together with their corresponding GAAP financial measures, provides meaningful supplemental information regarding its performance by excluding certain items that may not be indicative of its business, results of operations or outlook. Adjusted EBITDA, Care Margin, Free Cash Flow, Platform Contribution and Platform Contribution Margin are not comparable to similarly titled measures used by other companies, and have limitations as analytical tools and should not be considered in isolation, or as substitutes for analysis of the Company's operating results as reported under GAAP. Additionally, the Company does not consider its non-GAAP financial measures as superior to, or a substitute for, the equivalent measures calculated and presented in accordance with GAAP. PROPRIETARY AND CONFIDENTIAL OPRIVIA HEALTH#3Offering Summary Issuer: Ticker / Exchange: Base offering size: Overallotment option: Filing range: Gross Proceeds: Use of proceeds: Active bookrunners: Passive bookrunners: Co-managers: Expected pricing: Lock-up PROPRIETARY AND CONFIDENTIAL Privia Health, LLC ■ PRVA/NASDAQ ☐ 19,500,000 Shares (2,800,000 Shares Primary | 16,700,000 Shares Secondary) ■ 2,925,000 Shares (100% primary, 15% of base deal) ■ $17.00-$19.00 Per Share ■ $443 MM at mid-point of the range, includes $92 MM from concurrent private placement ■ The principal purposes of this offering are general corporate purposes, including working capital, research and development, business development, sales and marketing activities and capital expenditures The Company may also use a portion of the net proceeds, to acquire or invest in complementary businesses, technologies or other assets, although it currently has no agreement or understandings with respect to any such acquisitions or investments ■ Goldman Sachs & Co., LLC, J.P. Morgan, Credit Suisse, Piper Sandler & Co., William Blair & Co. ■Canaccord Genuity, Truist Securities, Inc. ■ R. Seelaus & Co., LLC, Siebert Williams Shank & Co., LLC April 29, 2021 ☐ 180 day lock up for directors and executive officers and other holders owning substantially all of the Company's securities OPRIVIA 3#4Privia Presenters PROPRIETARY AND CONFIDENTIAL SHAWN MORRIS Chief Executive Officer Cigna HealthSpring. NAMM OPRIVIA PARTH MEHROTRA President and Chief Operating Officer athenahealth Goldman Sachs accenture#5Our Mission and Vision OUR MISSION Transform healthcare to enable doctors and their teams to focus on keeping people healthy WHO WE ARE National physician platform transforming the healthcare delivery experience WHAT WE DO Provide tailored solutions for physicians and providers, creating value and securing their future PROPRIETARY AND CONFIDENTIAL OPRIVIA HEALTH WE KNOW doctors. WE ENABLE better outcomes. TOGETHER we move markets.#6Privia Provides a Differentiated Opportunity for Investors 2 3 4 5 6 7 8 9 PROPRIETARY AND CONFIDENTIAL Purpose Built and Flexible Platform That Succeeds Across All Markets Large and Growing Addressable Market Platform Proven to Transform Care Delivery At Scale Comprehensive Technology Solution Built for Providers Strong Customer Relationships Driven by Consistently Demonstrated Value Proposition Differentiated Offering Within the Physician Enablement Market Attractive Financial Profile Multiple Drivers for Future Growth Highly Experienced Executive and Physician Leadership Team with a Differentiated Board OPRIVIA 6#71 Privia Offers a Complete Solution Set for All Types of Providers Practices join the Privia Platform without changing their ownership structures The Privia Platform directly addresses the challenges physicians face and provides better economics PROPRIETARY AND CONFIDENTIAL ... S The transition to the value-based care reimbursement model The ever-increasing administrative requirements to operate a successful medical practice The need to engage patients using modern user-friendly technology OPRIVIA#81 Our Solution Moves Markets Towards Value Based Care At Scale Enter Market Align with anchor medical groups and health systems to transition markets to value PROPRIETARY AND CONFIDENTIAL Organize Providers Form high performance medical groups Develop network of leading primary care providers and specialists Drive Improvements OPRIVIA Advance practice management, patient engagement and value based care initiatives Transition to Value & Risk Succeed in various value-based care models (MSSP, Medicare Advantage, Commercial, etc.) 8#9We Have a Proven Operating Model that is Scalable and Flexible Single Tax-ID Medical Group in each local market - a primary care centric delivery network in each market Management services and clinical organization enabled by the Privia Technology Solution ■ - Market specific strategies — Accountable Care Organizations and ancillary services based on market dynamics Recognize practice collections across all of our providers Under fee-for-service contracts, Privia keeps a percentage of total collections Under value-based care constructs, Privia collects a per member per month ("PMPM") fee and a portion of the shared savings generated Platform Services Practice Management Revenue Cycle, Performance Management, Support Services Value Based Care Medical Economics, Contracting, Medical Management, Clinical Operations and Providers Technology & Analytics Single-instance Technology Platform, Virtual Health, Data Analytics, Clinical Research PROPRIETARY AND CONFIDENTIAL Primary Care Oriented Medical Groups Specialists OPRIVIA Stakeholders Patients Health Systems H ⠀ Payers Employers 9#101 Our Platform is Purpose-Built to Organize Physicians into Cost Efficient, Value Based and Primary Care Centric Networks 1. Single-TIN 2. Technology and Population Health 3. 4. Medical Group 5. Management Services Organization Accountable Care Organization Network for Purchasers and Payers PROPRIETARY AND CONFIDENTIAL Primary care centric single-TIN Medical Group; Medical Group governance structure allows providers to build a clinical culture adapting to consumers' and a region's unique needs Cutting-edge, interoperable technology platform designed with physicians' and patients' input to enhance their workflows in both fee-for-service and value based care settings Enable providers to focus on their patients, not paperwork, by leveraging scale to reduce administrative work, increase efficiency, and lower direct costs Physician-led, local market-based ACOs have been shown to lower costs, engage patients, reduce inappropriate utilization, and improve coordination and patient quality metrics to drive value based care Monetize at-scale care delivery platforms through partnerships across the healthcare ecosystem OPRIVIA 10#112 Significant Whitespace Exists Across Our End Markets The Privia Solution Addresses a Large Market Ripe for Disruption With Significant Opportunity for Further Growth -$1.9 trillion estimated physician enablement market opportunity expected to grow at a 6.4% CAGR over the next ten years $322bn Medicare Advantage $398bn Medicare FFS Privia succeeds across reimbursement environments and payment models PROPRIETARY AND CONFIDENTIAL $114bn Medicaid Source: Kaiser Family Foundation, Nephron Research. "The Dawn of Physician Enablement: Defining Healthcare in the 2020s January 20, 2021. Statista. OPRIVIA $1,062bn Commercial Privia can expand & scale across multiple, diverse markets -$1.9th TAM Privia has 2,550 implemented providers out of over 1 million total active providers in the U.S., further demonstrating its considerable potential TAM 11#12Privia Has Expanded its Footprint Across Several Geographies Since its Inception Launched First Practice 2013 2014 Launched Mid-Atlantic Market PROPRIETARY AND CONFIDENTIAL Privia Timeline Launched Georgia & Gulf Coast Markets 2015 2016 Launched Women's Health Platform Launched North Texas Market 2018 2019 Launched Tennessee Market & Privia Pediatrics Platform Launched Florida Market 2020 2,770+ Signed Providers OPRIVIA Current Market Presence 650+ 80M+ Care Center Addressable Population Locations North Texas 70+ MPSA (20 in top 100) Tennessee Gulf Coast Texas Privia Markets Mid-Atlantic Georgia 6 States (plus D.C.) Florida 12#13We Have Created Consistent Value for Providers and Payers Across Multiple Markets and Patient Populations Patient Population Attributed Lives Valued-Based Care Results Satisfaction PROPRIETARY AND CONFIDENTIAL 680K+ Total Attributed Lives 80M+ Addressable Population (Current Markets) $430M+ Total Shared Savings 85 Patient NPS Results from patients who meet with a Privia Provider annually for wellness and preventive care. 230K+ Total Medicare & MA Lives 92% Quality Score (MSSP) 95% Average Provider Retention OPRIVIA HEALTH 3M+ Patients 61% Lower Hospitalization¹ 410K+ Total Commercial Lives 47% Lower Emergency Room Visits¹ 54 Provider NPS 13#14Our Methodical Process Helps Providers Move Towards Value 1 Practice Fundamentals Stabilize the practice to create a successful base ☐ EHR & Patient Portal Revenue Cycle Payer Contracting Performance Mgmt Reporting PROPRIETARY AND CONFIDENTIAL 2 Enhanced Experience Upgrade the patient experience 3 Practice Websites Online Scheduling Virtual Visits ■ Patient Outreach Satisfaction Surveys Fundamentals of Value Launch value based care initiatives Membership Growth Risk Adjustment Quality Measures POD Engagement ■ Value Reporting 4 Privia Capabilities | Provider Expectations Total Cost Of Care Referral Management Care Management ■ Palliative Care ■ Behavioral Health OPRIVIA HEALTH Comprehensive Care 5 Advanced Clinical Model Increase responsibility for the Redesign practice to succeed totality of patient care in mature value models Advanced Management Network Delegation Inpatient Management Risk Positioning ■ Virtual Assistant 14#15Our Proprietary, End-to-End Technology Solution Enables Providers to Practice More Efficiently and Focus on Patient Care T. CARE PLAN TCM CCM MANAGEMENT. CARE PROPRIETARY AND CONFIDENTIAL TIENT ED. WH=73 VISITS PATIENT REPORTED . REPUTATION MANAGEMENT SEO. WEBSITE QUALITY DATA OPRIVIA HEALTH INSIGHTS. RAF REMINDERS CARE GAPS VIRTUAL ASSISTANT . VIRTUAL VISIT VIRTUAL URGENT CARE 14 . ATOR FIND-A-DOC APPOINTMENT REMINDER KIOSK. ONLINE CHECK-IN HUDDLE REPORT • PATIENT ACCESS PRE VISIT VISIT BETWEEN VISIT DATA ACQUISITION ANALYTICS We provide physicians with a comprehensive and differentiated technology solution that eliminates the need to buy and integrate more than 30 point solutions OPRIVIA Proprietary end-to- end, cloud-based technology solution enabling scalable operations across providers and multiple markets Enhances workflows in both fee-for-service and value-based care settings across the continuum of care in 200+ payer contracts Increases patient engagement across all stages, including pre-visit preparation, live / virtual visit, and post-visit follow up 15#16Our Technology Solution Creates an Integrated Experience for Providers and Patients Old Way Confusion and disorganization as a result of an onslaught of information from disparate sources ГУ EHR MSSP Reports PROPRIETARY AND CONFIDENTIAL Hospital ADTS Provider & Team Med Adv Ga Paper Reports Comm Ga Paper Reports OPRIVIA The Privia Way Privia manages complexity to create a unified workflow and experience for providers, staff, and patients Med Adv MSSP J Comm Privia Tech Platform Provider & Team # Network The Privia solution acquires data from across the healthcare ecosystem for a single view of the patient 16#175 We Provide Demonstrable Value to Our Providers Fee-for-Service Rate Lift PROPRIETARY AND CONFIDENTIAL Expense Savings on EMR/PMS & Group Purchasing Net Realization Rate Improvement Through Robust Revenue Cycle Management Enhanced Provider Productivity & Same-Store Patient Volume OPRIVIA Value-Based Care Revenue: Commercial, MSSP, MA Organic Practice Growth through Provider / Specialty Addition Incremental Revenue Opportunities Direct to Consumer Direct to Employer Ancillaries Clinical Research 17#185 Case Study: Driving Performance for Physician Group "A" Partnership ■ Physician group A joined Privia in 2014 with several objectives in mind: - Increase participation and improve performance in value based care programs; - Implement a new provider compensation model; Hire new providers to offset retirement and attrition; Expand specialty capabilities including sports medicine, allergy and urgent care; and - Improve branding PROPRIETARY AND CONFIDENTIAL Overview Key Takeways OPRIVIA Since 2014, Privia has helped to drive... -90% Increase in practice collections (from $5.8mm to $11mm) 35% Increase in provider base (from 17 to 23 providers) >50% Increase in annual patient visit volume -20% Increase in per provider patient volume 22% Improvement in days accounts receivable 0.8 Improvement in online reputation rating (from 3.2 to 4.0 stars) 18#195 Case Study: Driving Growth in Our Mid-Atlantic Market Established presence in Mid-Atlantic market in 2013 and drove rapid growth across platform Demonstrated power of model to enter market and expand provider density, while moving market to value based care Key Takeways Privia Growth¹ PROPRIETARY AND CONFIDENTIAL ✓-270% Growth In Implemented Providers ✓ -6% Increase in Market Share ✓ 77% CAGR In Attributed Lives ✓ -$450mm Increase In Fee-for-service Practice Collections ✓ $245mm Total Shared Savings (2014 Through 2019) From 2014 to 2020. Cohort of 76 Mid-Atlantic primary care providers who have been a part of Privia for at least five years. OPRIVIA HEALTH Provider Revenue Growth² ✓ 20% Fee-for-service Revenue Increase Driven By: 5% Increase In Revenue Per Provider 14% Provider Base Expansion ✓ 116% Increase In Value based Care Revenue Driven By: 90% Increase In Revenue Per Provider 14% Provider Base Expansion 19#205 We Have Earned Leading Patient and Provider NPS and Experienced Low Provider Attrition 85 OPRIVIA. (patients) OPRIVIA 95% PROPRIETARY AND CONFIDENTIAL Average Provider Retention Rate 54 OPRIVIA. (providers) 47 athenahealth 35 PCP National Average Net Promoter Score¹ 13 Davita. Kidney Care HCA Healthcare Tenet Holdcare 0 Medical Facilities Average 0 Health Plans Average *Note: Competitor NPS scores from customergauge.com and customer.guru. PCP average NPS score based on a study by WD Partners. Note: Gross includes all practices terminated, including: closed, sold, voluntarily and involuntarily terminated by Privia. 2020 excludes impact of a large primary care practice. Net includes all practices terminated as well as net impact of same store provider changes in live practices. OPRIVIA 20#216 Privia is Well Positioned Within the Broader Physician Enablement Landscape... Market Opportunity PROPRIETARY AND CONFIDENTIAL All Segments MA Only OAK STREET HEALTH iorahealth CLAREMEDICA ChenMed Clinic Model Caremax VillageMD CanoHealth Source: Nephron Research. The Dawn of Physician Enablement: Defining Healthcare in the 2020s." January 20, 2021. Alignment Healthcare bright™ OF Degree of Alignment OPRIVIA HEALTH PRIVIA. HEALTH agilon oscar Clover Health Aledade Landmark Pure Tech Overlay 21#226 ...With a Disruptive Model That Stands Out Relative to Key Comparables Focus Area FFS / Risk Based Model Members (2020 YE) Locations Capex Total 2020 Collections/ Revenue ($mm)¹ Profitable one medical PROPRIETARY AND CONFIDENTIAL Commercial / Direct-to-Employer FFS -549k Total Lives 93 sites / 12 States + D.C. High $380 No OA.K STREET HEALTH MA Risk -97k Total Lives 79 sites / 11 states High $883 No Source: Company Wings as of 4/5/21 Represents total revenues for One Medical, Oak Street, Cano and Agilon from publicly available investor presentation and/or filings. CanoHealth MA Risk -113k Total Lives 71 sites / 4 states + Puerto Rico Medium $833 Yes OPRIVIA agilon health MA Risk -130k Total Lives 16 anchor groups 17 geographies Low $1,218 Yes OPRIVIA. HEALTH Commercial / MA/ Direct-to- Employer FFS / Risk Over 3 million patients with -680k Total Attributed Lives (-410k Commercial / -230k Medicare and MA) 650+ sites / 6 states + D.C. Low $1,301 Yes 22#23Privia's Attractive Financial Profile CO Strong organic growth with double digit historical top line expansion Recurring revenue and care margin model with high forward visibility Profitable today with consistent margin expansion since inception Capital efficient platform with strong free cash flow generation that supports growth with minimal spend Multiple avenues for continued future growth PROPRIETARY AND CONFIDENTIAL OPRIVIA 23#247 We Have a Track Record of Growth and Margin Expansion % Growth % Growth Total Implemented Providers (YE) 1,796 2018 $ 130 2018 2,482 PROPRIETARY AND CONFIDENTIAL 2019 38.2 % Care Margin $ 164 2019 26.2% 18-20 CAGR 19.2% 2,550 2020 2.7% 18-20 CAGR $ 188 2020 14.6 % 20.3% Value Based Care Attribution (000s) 18-20 CAGR 18-20 Gov CAGR 18-20 Com CAGR Government % Growth 575 2018 $ 56 2018 % Practice Collections 6.1% % Care Margin 43.5 % Commercial 704 2019 22.4 % Platform Contribution $ 68 2019 6.0% 41.8% 682 2020 (3.1) % 8.9% 18.6% 3.9% 18-20 CAGR 20.9% $ 83 2020 6.3% 44.0% % Growth % Practice Collections % Care Margin $930 2018 $9 2018 1.0% 6.9% Note: 2020 actuals exclude public company costs. For reconciliations of 2018, 2019, and 2020 Care Margin to Operating Income, Platform Contribution to Operating Income, and Adjusted EBITDA to Net Loss, please see the Appendix OPRIVIA Practice Collections $1,136 2019 22.1% Adjusted EBITDA $ 18 2019 18-20 CAGR 18.3% 1.6% 11.1% $1,301 2020 14.6% 18-20 CAGR $ 29 2020 2.3 % 15.7% 81.4% 24#257 Long Term Financial Targets Practice Collections Growth Care Margin Growth PROPRIETARY AND CONFIDENTIAL EBITDA Growth EBITDA Margin (% of Care Margin) Note: For reconciliations of 2018, 2019, and 2020 Care Margin to Operating Income and Adjusted EBITDA to Net Loss, please see the Appendix. OPRIVIA 20%+ 20%+ -30%- -40% -30%- -35% 25#268 We Are Well Positioned to Continue to Monetize our Platform and Drive Growth Organic Growth in Existing Practices Patient panel and volume growth New provider growth Expansion of practice services Revenue optimization PROPRIETARY AND CONFIDENTIAL Moving Markets to Value Based Care Same store growth of patients attributed to value based contracts Moving existing attribution into full risk value based programs, such as direct contracting and fully capitated contracts Develop new products with aligned payers White Space Opportunities in Existing Markets - Add primary care and specialist practices in existing markets Develop value-oriented ancillary services Expand relationships with self-insured employers Expand clinical research program OPRIVIA New Market Development Expand business model nationally in partnership with anchor medical groups, health systems and payers Acquisitions and Investments in Full Service Care Models Minority or majority ownership of provider groups De-novo, wholly or partially owned, MA focused clinics Other M&A 26#27We Plan to Address Our National Opportunity Set and Have a Strong Near-Term Pipeline for Market Expansion Current Market PROPRIETARY AND CONFIDENTIAL WA OR CA AK NV ID UT AZ MT WY co NM ND SD NE KS TX OK MN IA MO Target Market WI AR 3 MI OPRIVIA HEALTH IL IN OH KY TN MS AL GA PA VA NC SC FL VT NH NY MA NJ DE ME MD DC RI Multiple current and historical discussions with health systems, medical groups and payers to enter new markets Non-Target Market 27#288 Case Study: Establishing an Anchor Partnership in a New Market with Health System "A" and Driving Growth Entered Florida market in 2019 through partnership with Health System A, which engaged Privia to: - Implement ambulatory technology solution across the Health System A Medical Group - Streamline operations and improve clinical and quality outcomes - Establish a partnership to grow and expand medical group statewide PROPRIETARY AND CONFIDENTIAL Key Takeways OPRIVIA The relationship with Health System A as an anchor customer enabled Privia to grow across all of Florida: ✓ Launched a new medical group for private physicians as alternative alignment vehicle to employment ✓ Accelerated the shift of the market to value based care, generating $15mm in gross savings in 2020 with our Medicare Advantage value-based arrangement 28#298 We Continue to Monetize Various Aspects of Our Platform While Enabling Our Provider Partners to Extend their Reach Virtual Visits | Apr-2018 Clinical Research | Jun-2020 Pic L Consect Ellie Gutierrez ww PROPRIETARY AND CONFIDENTIAL W wy VIRTUAL VISITS Because we know life is busy Direct to Employer | Jan-2020 Direct-to-employer and direct-to-consumer powered by virtual clinic and network of practice locations Virtual CLINIC OPRIVIA Privia has launched clinical research programs in many of its markets JAVARA 29#30Privia has a Deep and Experienced Management Team... Shawn Morris Chief Executive Officer Greg Kuzma Chief Healthcare Economics Officer Chris Voigt Chief Technology Officer Corporate Leadership MEMORIAS David Mountcastle Dana Fields Chief Financial Officer Chief Compliance Officer HealthSpring NAMM Mobile MD PROPRIETARY AND CONFIDENTIAL Mer Washing Parth Mehrotra President and Chief Operating Officer Mark Foulke EVP, Transformational Value Based Care Keith Fernandez, MD Chief Clinical Officer Maureen Clancy SVP, Operations athenahealth Oxford Health Plans CGI Ardent Geisinger HEALTH SERVICEE Health Plan Goldman BRAINWARE accenture SUMNER IN REALITETER Eric Beyer President, Mid-Atlantic OPRIVIA HEALTH Amy Cheslock President, Georgia and Tennessee Larry Tatum, MD CEO, North Texas Tufts CATELT Market Leadership Anthem Frank Letherby CEO, Florida Fred Taweel, MD Chief Medical Officer, Mid-Atlantic Jim Sams, MD CEO, Georgia and Tennessee Mark Cone, MD President, South Texas IMAR Women's Health Alliance PARTNERS USALENCARR Piedmont BENITHCARE 30#319 ...and a Differentiated Group of Independent Director Nominees Privia Role Operating Experience Experience Board PROPRIETARY AND CONFIDENTIAL Dave King Former Chairman/CEO, LabCorp Board Chair LabCorp PRITZKER PRIVATE CAPITAL LabCorp Cardinal Health binx Tom McCarthy Former EVP & CFO, Cigna Audit Committee Chair Cigna SELECTIVE BE UNIQUELY INSURED# OPRIVIA Patricia Maryland Former President & CEO, Ascension Healthcare Compliance Committee Chair & Ascension € Encompass Health SURGERY PARTNERS 31#321 2 3 4 5 Privia Provides a Differentiated Opportunity for Investors Purpose Built and Flexible Platform That Succeeds Across All Markets Demonstrates success in scaling within de novo markets ■ Multifaceted approach to driving value for providers Large and Growing Addressable Market ■ -$1.9tn physician enablement TAM growing at 6.4% with significant whitespace Platform Proven to Transform Care Delivery At Scale ■ Created consistent value for providers and payers across multiple markets and patient populations ■ Methodically moves markets toward value-based care Comprehensive Technology Solution Built for Providers ■ Single Platform that eliminates need for 30+ point solutions ■ Offers unified workflow and experience for providers and patients Strong Customer Relationships Driven by Consistently Demonstrated Value Proposition ■ Patients NPS score: 85 ■ Providers NPS score: 54 PROPRIETARY AND CONFIDENTIAL 6 Differentiated Offering Within the Physician Enablement Market ■ Enables physicians across payers and geographies ■ Capital efficient and profitable model 7 Attractive Financial Profile 8 9 OPRIVIA ■ Attractive top-line growth (-18%) ■ Expanding margin profile (-81% EBITDA growth) Multiple Drivers for Future Growth ■ Multifaceted strategy encompassing new and existing markets as well as the further monetization of the platform Highly Experienced Executive and Physician Leadership Team ■ Significant experience in managed care, healthcare technology, provider organizations and health systems 32#33Appendix O PRIVIA HEALTH PROPRIETARY AND CONFIDENTIAL O#34Preliminary Estimates of Operating Results for Three Months Ended March 31, 2021 ($ in mm) Financial Results Total revenues Operating income Net income attributable to Privia Health Group, Inc. Key Metrics (amount in millions, except provider data) Implemented Providers (as of end of period) Attributed Lives (in thousands) (as of end of period) Practice Collections ($)(¹) Non-GAAP Financial Measures Care Margin ($)(2) Platform Contribution ($)(³) Adjusted EBITDA ($)(4) Low PROPRIETARY AND CONFIDENTIAL For the Three Months Ended March 31, 2021 $ 200.0 6.0 4.0 2,648 721 $330.0 $ 48.5 22.5 $ $ 7.0 High $ 210.0 8.0 6.0 2,648 721 $345.0 $ 52.5 $ 25.0 $ 10.0 2020 $ 212.9 6.5 5.4 2,528 752 $ 322.7 $ 47.8 $ 20.3 $7.1 (1) We define practice collections as the total collections from all practices in al markets and all sources of reimbursement (FFS, VBC and other) that we receive for delivering care and providing our platform and associated services. Practice collections differ from revenue by including collections from Non-Owned Medical Groups. (2) We define care margin as total revenue less the sum of physician and practice expense. (3) We define platform contribution as total revenue less the sum of (i) physician and practice expense and (ii) cost of platform. (4) We define adjusted EBITDA as net income (loss) attributable to Privia Health Group, Inc. shareholders and subsidiaries excluding minority interests, provision (benefit) for income taxes, interest income, interest expense, depreciation and amortization, stock-based compensation, severance charges and other non-recurring expenses. OPRIVIA 34#35Care Margin Reconciliation ($ in mm) Operating Income Depreciation and Amortization General and Administrative Sales and Marketing Cost of Platform Total Care Margin Note: 2020 actuals exclude public company costs. PROPRIETARY AND CONFIDENTIAL OPRIVIA 2018 $ 2.2 $1.1 $41.5 $ 11.7 $ 73.2 $ 129.7 2019 $ 16.1 $1.4 $41.8 $9.2 $ 95.2 $ 163.7 2020 $ 25.4 $ 1.8 $ 44.0 $11.4 $ 105.0 $ 187.6 35#36Platform Contribution Reconciliation in mm) Operating Income Depreciation and Amortization Expense General and Administrative Sales and Marketing Total Platform Contribution Note: 2020 actuals exclude public company costs. PROPRIETARY AND CONFIDENTIAL OPRIVIA 2018 $ 2.2 $ 1.1 $41.5 $11.7 $ 56.5 2019 $ 16.1 $ 1.4 $ 41.8 $9.2 $ 68.5 2020 $ 25.4 $ 1.8 $ 44.0 $11.4 $ 82.6 36#37Adjusted EBITDA Reconciliation ($ in mm) Net Income (loss) Net Loss Attributable to Non-Controlling Interests Provision for (Benefit From) For Income Tax Interest Expense Depreciation and Amortization Stock-Based Compensation Severance Costs Other Expenses Adjusted EBITDA Note: 2020 actuals exclude public company costs. PROPRIETARY AND CONFIDENTIAL OPRIVIA 2018 $(3.0) $(1.1) $(0.1) $6.4 $1.1 $1.9 $ 3.0 $ 0.7 $8.9 2019 $ 8.2 $(0.3) $1.2 $6.9 $1.4 $0.2 $ 0.0 $ 0.5 $ 18.1 2020 $ 31.2 $(0.3) $(7.4) $ 1.9 $ 1.8 $ 0.5 $ 0.0 $ 1.7 $ 29.4 37#38OPRIVIA TM E10.9