#1sema4 Investor Presentation | August 2021#22 Disclaimer This presentation contains forward-looking statements under the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not relate to historical facts and events and such statements and opinions pertaining to the future that, for example, contain wording such as "may," "might," "will," "could," "would," "should," "expect," "intend," "plan," "objective," "anticipate," "believe," "estimate," "predict," "potential," "continue," "ongoing," or the negative of these terms, or other comparable terminology intended to identify statements about the future. Forward-looking statements contained in this presentation include, but are not limited to, statements about: our addressable market, market growth, future revenue, key performance indicators, expenses, capital requirements and our needs for additional financing, our commercial launch plans, our strategic plans for our business and products, market acceptance of our products, our competitive position and developments and projections relating to our competitors, domestic and foreign regulatory approvals, third-party manufacturers and suppliers, our intellectual property, the potential effects of government regulation and local, regional and national and international economic conditions and events affecting our business. We cannot assure that the forward-looking statements in this presentation will prove to be accurate. Furthermore, if our forward-looking statements prove to be inaccurate, the inaccuracy may be material. These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. The forward-looking statements and opinions contained in this presentation are based on our management's beliefs and assumptions and are based upon information currently available to our management as of the date of this presentation and, while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by us or any other person that we will achieve our objectives and plans in any specified time frame, or at all. Actual results, performance or events may differ materially from those in such statements due to, without limitation, risks generally associated with product development, including delays or challenges that may arise in the development, launch or scaling of our new products, programs or services, challenges in the commercialization of our products and services, the risk that we may not maintain our existing relationships with suppliers or enter into new ones, or that we will not realize the intended benefits from such relationships, any inability to protect our intellectual property effectively, changes in general economic conditions, in particular economic conditions in the markets on which we operate, changes affecting interest rate levels, changes affecting currency exchange rates, changes in competition levels and changes in laws and regulations. The information, opinions and forward-looking statements contained in this announcement speak only as of its date, and are subject to change without notice. Use of Non-GAAP Financial Measures This presentation includes non-GAAP financial measures, including Adjusted EBITDA, Adjusted Gross Profit and Adjusted Gross Margin. Adjusted EBITDA is defined as net loss adjusted for interest (income) expense, net, other (income) expense, net, provision for (benefit from) income taxes, gain on extinguishment of debt, depreciation and amortization and stock-based compensation expenses, and COVID-19 costs. Management believes that these non-GAAP measures of financial results are useful in evaluating the Sema4's operating performance compared to that of other companies in its industry, as this metric generally eliminates the effects of certain items that may vary from company to company for reasons unrelated to overall operating performance. Please refer to the Appendix for Non-GAAP to GAAP Reconciliation. This presentation contains estimates, projections and other information concerning our industry, our business, and the markets for our products and services. Information that is based on estimates, forecasts, projections, market research or similar methodologies is inherently subject to uncertainties, and actual events or circumstances may differ materially from events and circumstances that are assumed in this information. Unless otherwise expressly stated, we obtained this industry, business, market and other data from our own internal estimates and research as well as from reports, research surveys, studies and similar data prepared by market research firms and other third parties, industry, medical and general publications, government data and similar sources. While we believe our internal company research as to such matters is reliable and the market definitions are appropriate, neither such research nor these definitions have been verified by any independent source. We discuss these and other risks and uncertainties in greater detail in the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our periodic reports on filings we make with the SEC from time to time. Given these uncertainties, you should not place undue reliance on the forward-looking statements. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. Except as required by law, we undertake no obligation to update publicly any forward-looking statements for any reason after the date of this presentation to conform these statements to actual results or to changes in our expectations. We file reports, proxy statements, and other information with the SEC. Such reports, proxy statements, and other information concerning us is available at http://www.sec.gov. Requests for copies of such documents should be directed to our Investor Relations department at Sema4 Holdings Corp. 333 Ludlow Street, North Tower, 8th Floor, Stamford, CT 06902. Our telephone number is 800-298-6470 sema4#33 Agenda 000 ge D Overview Strategy Financials Q&A sema4#44 Who we are: A Patient-Centered Health Intelligence Company Leveraging Al, Genomics and Other Deep Data#55 -1,000 Employees 160+ PhD's 2020 revenue of $179mn ($148mn excluding COVID-19 revenue) 1 Annualized Run Rate as of June 30, 2021 Corporate Snapshot ||+ MIX 12 million de-identified clinical records, many with genomic data acco Generating and managing 35+ petabytes of data per month D Accessioning > 200,0001 Next Generation Sequencing tests annually sema4#66 The PROBLEM: Rapid Advances in Genomics & Al Have Had Limited Impact on Patients Epigenome Germ line Somatic Proteomics DNA Mouth Environment RNA Microbiome Immune EMR Drugs Labs Wellness Monitoring Cost Information Diagnoses Wearable Devices Mobile Apps Environmental Sensors Procedures Imaging Device Acquired Physician Prescribed sema4#77 Our SOLUTION: Epigenome Multi-Modal, Holistic Precisions Medicine Platform Built for and in Partnership with Health Systems Proteomics DNA Environment RNA Microbiome Immune Drugs Labs Wellness Monitoring Co Information Diagnoses Wearable Devices Mobile Apps Procedures Device Acquired Prescribed sema4#88 Our Solution: Developing a multi- Modal, Holistic Platform for and in Partnership with Health Systems XX STATE-OF-THE-ART GENOMICS 200k+ NGS-based tests in 2020 DEEP & STRUCTURED DATA Integrated Data & Al-powered Analytics ACCESS & ENGAGEMENT Partnerships with Health Systems and Biopharma C UNIQUE INSIGHTS Comprehensive Reports & Patient Portal sema4#99 Autoimmune >$100B LARGE ADDRESSABLE MARKETS: Enabled by our disease-agnostic approach We are focused on the most costly and challenging diseases Curated and structured data for individuals and populations Foundation for novel insight and decision making Pregnancy $2B Oncology $171B Cardiovascular $194B Reflects annual cost of pregnancy complications; Beckers-Pregnancy Complication Costs; Health Payer Intelligence-Cardiovascular, Diabetes, and Oncology Annual Costs; HCP Live-Auto-Immune Annual Costs Rare Disease >$100B Diabetes $176B sema4#1010 How We Are Different: Computational Bio Expertise and an Embedded, Symbiotic Approach with Health Systems Conventional Genomics Model narrow menu sold to physicians no data integration VS Population Health Insights Al Solutions Al Solutions H Population Health Insights Bulse เoue Advent Health DDDDD $ 1 Data Curation Busa วเนou 1 1 Mount Sinai Data Curation Engagement Patient Engagement Patient Al Solutions Al Solutions Population Health Insights Avera Population Health Insights Busa] วนเou 00000 0000 (H) 00000 DOO Bunsel 00000 Data Curation Data Curation North Shore University Health System วเuoues Engagement Patient Engagement Patient sema4#1111 Agenda 00⁰ Overview D Strategy Financials ge Q&A sema4#12Centrellis: Our Health Data Engine Al-powered disease models based on large-scale, deep medical record data and molecular data generated on our Traversa platform Deriving population health insights Engagement and delivery of complex data via friendly UI for physicians and patients Integrating clinically relevant disease and healthy tissue data Data Privacy and Cybersecurity core to our mission Transforming standard of care insights by reconstructing longitudinal patient journeys#1313 Centrellis: The Flywheel Effect CHANNELS Health Systems EMR, Imaging, Molecular, Claims Third Parties EMR, Imaging, Molecular, Claims Outside Data Source Literature, Knowledge Graph, Omics Repositories + ‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒ Laboratory Molecular, Clinical, Patient Gen. Data H Enhanced Data Feed Standard Dx Pathway ‒‒‒‒ INSIGHTS & ENGAGEMENT Clinical Trials Clinical Decision Support Population Health Models Patients & Provider Portals Real-World Evidence Drug Discovery Models + Clinical Reports sema4#14Centrellis: Our Knowledge Base is Rapidly Growing ill. 0 000 000 Managing 35+ Petabytes of Data Growing Data Set Generated via our Testing Solutions + Patient Records 12 million De-identified Clinical Records#1515 Traversa: Clinical Grade Exome/Low Pass Whole Genome Universal Genomics Chassis с Capture vast majority of patients during initial order Provider-initiated order across all Sema4 germline genomic tests ATGC ATGC ATGC ATGC ATGC ATGC ATGC Sequence once to generate medical exome of data ATGC ATGC Automated software query of generated data Carrier screening PGx Polygenic risk scores Hereditary cancer Generate many clinical reports for requested genes of first ordered test Potential to order subsequent test for insights into additional sets of genes Rich Reference data sets easily accessed & queried for collaborations Resulting medical exome with longitudinal clinical annotation sema4#1616 Our Current Health System Partners: Systems serve ~20 million patients Avera Mount Sinai +NorthShore Advent Health University Health System sema4#1717 Deep Partnerships: Key to Long-Term Growth and Enhancing the Platform Patients → Data Revenue Growth (1) Our ability to enter into additional successful partnerships and collaborations is subject to certain risks and uncertainties. See Disclaimer on slide 2. 20M Patients 2021 1 3 Data Features growing 100x 1 4 Systems 1 Recruit and build health system partnerships¹ Invest to scale population-based genomic testing 3 2 4 30M+ Patients 2 4 8+ Systems 3 Years Integrating into care and measuring impact Data science capabilities sema4#1818 Patient Engagement: Longitudinal Access to Large Populations oooo lol Connect to patients via services relevant to clinical care ‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒‒ Patients, Providers, Health Systems 17 Engage with patients longitudinally across the care continuum Patients, Payers, Employers ‒‒‒‒‒‒‒‒ ‒‒‒‒‒‒‒‒‒‒‒ Develop and deliver Individualized Insights to improve care Patients, Providers, Health Systems, Pharma, Researchers High consent rates enable unique datasets and capabilities that are valuable to Biopharma and Health System partners sema4#1919 Business Model Evolution: From testing to monetizing a platform of algorithms Increased Value to Patients, Providers, Pharma GENOMIC TESTING SOLUTIONS REVENUE MONETIZE INFORMATION PLATFORM TO QUERY FOR INSIGHTS SECONDARY INSIGHTS Information-rich genomic testing platform Novel disease models that inform clinical care and trials reducing cost and improving outcomes Matching patients to products and services (moving beyond providers and life science) Richness of Data Set & Relationships sema4#2020 Pharma: improving efficiency and outcomes in drug development SEMA4 OFFERING LEAD IDENTIFICATION Clinical trial matching Drive increased probability of success and terminate bad molecules sooner Research DISCOVERY EARLY CLINICAL SaaS-based licensing Reduce trial duration, minimize dose finding / escalation, better patient selectivity Preclinical DEVELOPMENT Phase I Deep JV collaborations leveraging data science PROTOCOL OPTIMIZATION Maximize trial opportunity, reduce time to market, and optimize market access Phase II Phase III REAL WORLD DATA Characterize patient journeys and diagnostic odysseys Phase IV / RWE COMMERCIALIZATION sema4#2121 Best-in-class solutions across multiple key areas ● ● ● ● XIX Genetic Testing | One-stop-shop clinical testing lab Capacity for hundreds of thousands of NGS tests/year Adding exome sequencing and low-pass whole genome sequencing to Traversa Sema4 Signal Suite of tests in oncology Long-read, single-cell and spatial approaches ● RWD & Analytics Access to millions of patients' worth of clinical, molecular and genetic data • Advanced data engineering and NLP-driven data curation Industry-leading expertise in network models, biomarkers and targets ● Data science expertise for full spectrum of RWD analyses ● TOY Solutions driven by our our active and direct engagement of patients and providers Clinical Trial Enablement Multiple SaaS products out of longitudinal clinicogenomic dataset Find My Trial Patient ● ● Design My Trial Ability to recontact patients • Workflows and solutions to increase trial site efficiency sema4#2222 Oncology: Portfolio Approach Services the Entire Patient Journey Identify Treat ¡¡i Monitor Our Portfolio: Informatics EMR Integration Population Health Services Patient Engagement Genetic Counseling Data Analytics Research Collab. Real World Evidence Advanced Network Models Genomic platform Somatic Germline/ Hereditary sema4#2323 Women's Health: Foundational Position in a Key Patient Channel XX 1000 $ Expanded Carrier Screening Non-invasive Prenatal Screening Patient Pregnancy Journey Broad Portfolio enables data continuity across patient journey O Pre-eminent brand in carrier screening O Expanding size of Expanded Carrier Screening panel and adding residual risk scoring CAPABILITIES AUGMENTED BY... In-house genetic counselling services Advanced analytics and Al Integration with clinical workflows Health system portal sema4#2424 A holistic approach to patient care Use of multiple methods and technologies, each with accuracy of >99% Continuous investment in R&D to identify insights that advance productive health Cutting-edge science and methodologies Predictive risk modeling Affordable payment plans, self- pay pricing, and other financial assistance options available Flexible, in-depth panel options Sema4 Women's Health Solutions Contracted with all major national payors ECS, NIPT, Hereditary Cancer, and Natalis solutions designed with flexibility to meet patient needs Seamless workflow integration Dedicated patient support Electronic integration and digital tools with customized reporting options (EMR, portal, paper) Proactive post-test genetic counseling, user-friendly Patient Portal, and video-based education sema4#2525 Integrating data and genomic care to transform the patient treatment paradigm ● Patient-centric Broad testing portfolio for the women's health journey Physician-informed digital education tools • Research studies to better understand the metamorphosis of pregnancy • Patient and provider support for a seamless experience "Strengthening our premier solutions for women's health with an even greater emphasis on data science and sophisticated screening will further improve the risk assessment for a woman's health resulting in better health outcomes." Eric Schadt, PhD Founder and CEO, Sema4 Data-driven • Robust R&D investment Predictive modeling of pregnancy risk factors, ● • Analysis of genomic data to drive unique and actionable insights ● • Use of informatics and clinical expertise to guide product development sema4#2626 Case Study: Connecting With Patients Across The Pregnancy Journey lil Pregnancy Journey Week 19 H Week 19 References (2) Your baby is about the length of a small chipmunk Your baby's hearing has improved, and they are now able to hear many different sounds. This likely includes conversations! You can try talking and singing to your baby - it's possible they will notice and listen, though they can't understand you yet. sema4 = Among the billions of neurons that are developing in your baby's brain are motor neurons - specialized brain cells that help your brain control your muscles. Thanks to the development of these motor neurons, your baby is now able to make more conscious movements, like turning their head or sucking their thumb. 林 Your Body © 2020 Sema4 0 Eve&ion F Pregnancy Journey H Are your feet getting bigger? Your body is going through many changes, including some that may find you needing to go up a shoe size or two. n Summary Week 19 Week 19: Your body A hormone called relaxin is responsible for loosening the joints around your pelvis so your baby can more easily leave your birth canal during labor. But this hormone loosens the ligaments in your feet, which can cause your footbones to spread. Your arches may also drop during pregnancy as a result of the extra weight you are carrying References (2) Education Weight gain and edema- the swelling and extra fluid your body retains during pregnancy - can contribute to larger feet as well. These changes to your feet can be permanent. though the greatest changes in foot size and arch reduction seems to happen during your first pregnancy. If you are in a second or later pregnancy, it is unlikely you will experience the same degree of change. sema4 M 9 Your Baby IE S @ lil Pregnancy Journey Vitals Keep track of these important vitals during your pregnancy. Learn more about connecting health data 120 Heart rate Blood pressure Body weight 110 300 DO DO TO Week 19 GO Nov 1 sema4 = Week Month Year New 34-8 60-82 bpm 2 measurements Normal range Link another account 100 bpm Nov Last updated Sept 21 2020 Pregnancy Journey Vitals Keep track of these important vitals during your pregnancy. Learn more about connecting health data 150 Heart rate Blood pressure Body weight 140 130 120 110 DO Week 19 Wook Month Nov 19 V Nov 2009-Pesare 117-138 lbs 12 measurements Your b sema4 May 20 Year © 2020 Soma4 Now 20 E&ION Your Medical Results Sema4 - Confidential and Proprietary. Do not distribute |ıl Pregnancy Journey 120 Vitals Keep track of these important vitals during your pregnancy. Learn more about connecting health data 110 Heart rate Blood pressure Body weight 100 70 Week 19 Week Month Year No Presed sema4 120/90-140/75 bpm 6 mecaurements Nov 1 Singi Normal range 60-100 systolic Nov 15 Normal range: 60-100 diastolic Nov 30 Link another account Last updobod Sept 21, 2020 千 Pregnancy Journey Week 19 sema4 Week 19 Exercise & Nutrition Exercise Nutrition Exercise Exercise highlight: Lower body booster Building a strong lower body can help support you as you need to carry increasing weight throughout your pregnancy. Walking knee pulls • Stand on one foot. Pull one of your knees into your chest, and hold it with both hands for a few seconds. • Return your raised foot to the ground and step forward. • Repeat on the opposite side. Repeat alternating sides 5-10 times. References (1) • Note: stand near a wall or chair that you can grab for balance if you need to. For a more comprehensive look at exercising during pregnancy, check out our exercise resources page. Remember that you should always check in with your healthcare provider before starting a new exercise routine. Guidance sema4#2727 Agenda 000 даа 1 Overview Strategy Financials Q&A sema4#282 28 SPAC Process: Accelerating Our Growth and Development Governance Reconstituted Board of Directors People New CFO, CMO, CDO Systems ERP, HR, LIMS Improved efficiencies, controls, visibility Finance lolo. Uplift to public company standard accounting, revenue cycle, procurement, systems sema4#2929 Financial Snapshot ($ in millions) P&L Revenue Gross Margin Adjusted Gross Margin Net Loss 1 Adjusted EBITDA ¹ Balance Sheet Cash & Equivalents Restricted Cash Other Assets Total Assets Total Debt Other Liabilities Total Liabilities 2018 $133 31% 35% (24) (18) 2019 $115 $0 $89 $204 $5 $70 $75 2019 $196 39% 40% (30) (19) 2020 $108 $11 $133 $252 $21 $226 $247 2020 $179 -3% 17% (241) (107) 1Q21 $59 $11 $150 $220 $20 $386 $406 YTD 2021 $111 -9% 8% (236) (60) 2Q21 (2) $535 $1 $129 $665 $11 $686 $697 ¹ Adjusted EBITDA is defined as net loss adjusted for interest (income) expense, net, other (income) expense, net, provision for (benefit from) income taxes, gain on extinguishment of debt, depreciation and amortization and stock-based compensation expenses, and COVID-19 costs. Management believes that these non-GAAP measures of financial results are useful in evaluating the Sema4's operating performance compared to that of other companies in its industry, as this metric generally eliminates the effects of certain items that may vary from company to company for reasons unrelated to overall operating performance. Please refer to the Appendix for Non-GAAP to GAAP Reconciliation. 2 Proforma as reflected in Sema4's Form 8-K filed on 08/16/2021 sema4#3030 Resulted Volumes ¹ 1 Cumulative Resulted Volumes (excluding COVID-19) Since January 1, 2020 1Q20 1 Represents resulted volume excluding COVID-19 2Q20 3Q20 4Q20 1Q21 2Q21 sema4#3131 Leadership Eric Schadt Chief Executive Officer Mount Sinai PACBIO Roche MERCK Mount Sinai Sage BIONETWORKS C Lisa Edelmann Chief Diagnostics Officer Jamie Coffin Chief Operating Officer SOURCEMED DELL William Oh Chief Medical Science Officer Mount Sinai Dana-Farber Cancer Institute Kareem Saad Chief Business Officer apervita » DELL Andrew Kasarskis Chief Data Officer Mount Sinai PD PACBIO® MERCK Isaac Ro Chief Financial Officer Thrive. Sachs Goldman AN EXACT SCIENCES COMPANY Karen White Chief People Officer v Syneos Health inVentiv Health Tony Prentice Chief Product Officer AMERICAN EXPRESS Glenn Farrell Chief Marketing Officer Microsoft PD PACBIO® Mount Sinai sema4#3232 Board of Directors Post Transaction Eric Schadt Roche Mount Sinai PD PACBIO Mike Pellini SECTION 32 FOUNDATION MEDICINE Rachel Sherman FDA New Board Members Eli Casdin CASDIN CAPITAL LIFE SCIENCE INVESTMENTS CM. LifeScience. Emily Leproust TWIST BIOSCIENCE CM. LifeScience. Joshua Ruch rho Nat Turner flatiron. CM. LifeScience. Jason Ryan FOUNDATION MEDICINE Singular Genomics Dennis Charney Mount Sinai sema4#3333 Agenda 000 ge D Overview Strategy Financials Q&A sema4#34Thank you sema4#35Appendix#3636 Non-GAAP Gross Margin Reconciliation Revenue Cost of services. Gross (Loss) Profit Add: Stock-based compensation expense. (1) Related party expenses Labor costs due to laboratory move (2) COVID-19 costs (3) Adjusted Gross Profit Adjusted Gross Margin $ $ 2020 179,322 184,648 (5,326) Year Ended December 31, 13,947 2,189 16,391 3,179 30,380 17% 2019 (in thousands) $ 196,174 $ 119,623 76,551 $ 710 1,859 79,120 40 % $ 2018 133,341 92,093 41,248 748 4,122 46,118 35 % (2) (1) Represents fees paid to ISMMS for certain services that, for GAAP purposes, are included in Cost of Services. Represents labor costs in respect of laboratory employees' time spent to support our laboratory move from New York City to Stamford, Connecticut in 2020. During the move, our laboratory employees dedicated their time to re-validating and re-establishing instruments and equipment, rebuilding interface, obtaining a CLIA license, and other tasks to make sure the move was done correctly. For GAAP purposes we included these activities in Cost of Services. However, as the laboratory move and effort spent by our employees are one-time activities, we adjusted our Gross Profit to reflect management's view of our normal operations. (3) Represents labor costs in respect laboratory employees' downtime. During the second quarter of 2020, we did not reduce the workforce in our laboratory from COVID-19. However, we suffered significantly due to the decrease in volume in Women's Health and other products. Accordingly, we have adjusted our Gross Profit to reflect the management-assessed impact from the decrease in productivity of existing laboratory employees due to COVID-19 in the second quarter of 2020. Revenue Cost of services Gross (Loss) Profit Gross Margin Add: Stock-based compensation expense COVID Costs(1) Adjusted Gross Profit Adjusted Gross Margin $ $ Six Months Ended June 30, 2021 (in thousands) 111,216 $ 121,443 (10,227) (9)% 19,463 9,236 8% $ 2020 76,757 75,224 1,533 2% (6) 3,179 4,706 6% (1) Represents labor costs with respect to laboratory employees' downtime. During the second quarter of 2020, we did not reduce the workforce in our laboratory from COVID-19. However, we suffered significantly due to the decrease in volume in Women's Health and other products. Accordingly, we have adjusted our Gross Profit to reflect the management-assessed impact from the decrease in productivity of existing laboratory employees due to COVID-19 in the second quarter of 2020. sema4#3737 Non-GAAP EBITDA Reconciliation Net loss. Interest (income) expense, (1) net (2) Gain on extinguishment of debt Depreciation and amortization. Stock-based compensation expense (3) Other (income) expense, net COVID-19 costs (4) Adjusted EBITDA. $ $ 2020 Year Ended December 31, (241,340) $ 1,968 11,734 120,231 (2,622) 3,179 (106,850) $ 2019 (in thousands) (29,704) $ (205) 6,407 5,482 (504) 2018 (23,872) 248 (4,500) 5,433 5,605 (539) (18,524) $ (17,625) (1) Represents the total of Interest Expense related to our capital leases and interest-bearing loans and Interest Income on money market funds. (2) Represents a gain on debt extinguishment for the year ended December 31, 2018 related to principal loan forgiveness under one of our loan agreements. (3) For fiscal year 2020, consists of funding received under the CARES Act Provider Relief Fund, and sales and use taxes. (4) Represents labor costs in respect laboratory employees' downtime. During the second quarter of 2020, we did not reduce the workforce in our laboratory from COVID-19. However, we suffered significantly due to the decrease in volume in Women's Health and other products. Accordingly, we have adjusted our Gross Profit to reflect the management-assessed impact from the decrease in productivity of existing laboratory employees due to COVID-19 in the second quarter of 2020. Net loss Interest expense, net(¹) Depreciation and amortization. Stock-based compensation expense.... Transaction costs (2) Other (income) expense, net(³) COVID-19 costs(4) Adjusted EBITDA.... $ Six Months Ended June 30, 2021 (in thousands) (236,355) $ 1,415 10,521 164,443 5,105 (5,584) $ (60,455) $ 2020 (59,042) 779 5,080 620 (2,617) 3,179 (52,001) (1) Represents the total of Interest Expense related to our capital leases and interest-bearing loans and Interest Income on money market funds. (2) Represents professional service costs incurred in connection with pursuing the Business Combination transaction that did not meet the requirement for capitalization. (3) For the six months ended June 30, 2021 and 2020, consists of funding received under the CARES Act Provider Relief Fund. (4) Represents labor costs with respect to laboratory employees' downtime. During the second quarter of 2020, we did not reduce the workforce in our laboratory from COVID-19. However, we suffered significantly due to the decrease in volume in Women's Health and other products. Accordingly, we have adjusted our Gross Profit to reflect the management-assessed impact from the decrease in productivity of existing laboratory employees due to COVID-19 in the second quarter of 2020. sema4#38SMFR sema4 Nasdaq Listed A patient-centered health intelligence company