#1talk space Talkspace A leader in virtual behavioral healthcare 42nd Annual J.P. Morgan Healthcare Conference Jon R. Cohen, M.D., CEO Jennifer Fulk, CFO JANUARY 11, 2024 40 9:41 Friday February 10 < Rooms 'elpful tips CO M O No I start? Jason Smith Therapist, MS LCSW I understand how this would impact your mood. It's really challenging to receive feedback when you're already... talk space 03:20 What should I expect from my therapist? Tip 2/6 .ve sessions Next session scheduled for Friday, Feb 15 Clinical progress Complete your assessment by Friday, Feb 21 01:54 Exercises Alleviate stress and improve your coping skills 100% 12:00 PM> What does the s of therapy look li Tip 3/6 . > talk space 1#2Disclaimer This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All statements contained in this presentation that do not relate to matters of historical fact should be considered forward-looking, including statements regarding our financial condition, anticipated financial performance, achieving profitability, business strategy and plans, market opportunity and expansion and objectives of our management for future operations. These forward-looking statements generally are identified by the words "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "forecast", "future”, “intend,” “may,” “might", "opportunity", "plan," "possible", "potential," "predict," "project," "should," "strategy", "strive", "target," "will," or "would", the negative of these words or other similar terms or expressions. The absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many important factors could cause actual future events to differ materially from the forward-looking statements in this presentation, including but not limited to: our history of losses; the rapid evolution of our business and the markets in which we operate; our ability to continue growing at the rates we have historically grown, or at all; the development of the virtual behavioral health market; a deterioration in general economic conditions as a result of inflation, increased interest rates or otherwise; competition in our industry; and our relationships with affiliated professional entities to provide physician and other professional services. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in under the caption "Risk Factors" in our Annual Report on Form 10-K for the annual period ended December 31, 2022 filed with the Securities and Exchange Commission ("SEC") on March 10, 2023 and in our other documents filed from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and we assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. We do not give any assurance that we will achieve our expectations. Certain information contained in this presentation relate to or are based on studies, publications, surveys and other data obtained from third-party sources and the Company's own internal estimates and research. While the Company believes these third-party sources to be reliable as of the date of this presentation, it has not independently verified, and makes no representation as to the adequacy, fairness, accuracy or completeness of, any information obtained from third-party sources, and you are urged not to give undue weight to such third- party information. While the Company believes its internal research is reliable, such research has not been verified by any independent source. This presentation may contain the measure Adjusted EBITDA, Adjusted EBITDA margin, and non-GAAP costs and expenses (including non-GAAP cost of revenue, research and development, sales and marketing, and general and administrative) which are non-GAAP financial measure. For additional information about the measure and a reconciliation to the most closely comparable GAAP measure see the Talkspace Investors Relations website at investors.talkspace.com. talk space 2#3The U.S. is facing a behavioral health crisis Prevalence of behavioral health issues is high 32% Of adults reported symptoms of anxiety or depression in February 2023¹ $48B Economic cost of lost productivity due to mental health issues³ 1: KFF 2: Forbes 3: Gallup 4: NAMI 5: Precedence Research $150B $100B $50B $OB Projected U.S. Behavioral Health Market Growth5 $83B 2022 +5% CAGR $87B 2023 $137B 2032 Affordability and insurance access remain major challenges 42% of U.S. adults with a diagnosable condition reported in 2023 that they could not afford to access the treatment they needed² 34% Of survey respondents reported difficulties finding any therapist who accepted their insurance4 talk space 3#4Talkspace is part of the solution Affordable, accessible, and easily available Therapy Typically match in 1-2 days 120+ conditions treated Live video, text, audio, asynchronous messaging Coverage available via insurance, EAP, employers, schools, cash pay 9:41 ( Live video se Mit Lane-30-15 00 Dave Miller Working today I'm really looking forward to getting started! g therapy for the first time is ap towards feeling better. By the commitment to therapy ve already made progress. erwe will explore what you een experiencing and where uld like to go. You mentioned Son Jan 22 12:30 PM mportant experiences that it you to Talkspace including reat work. 00 u tell me more about the res you are experiencing e and at work? +Message Dave... 88 Self-Guided Personalized courses Daily journaling Live classes with a therapist Psychiatry Psychiatric evaluation Prescriptions and ongoing medication management (Ⓡ) talk space 4#5National network growing to meet demand Network overview 5K+ Total providers in network 50 States covered by provider network ~60% Growth in number of providers in the last 12 months Hybrid network In-house, full-time providers Independent contractor providers 120+ conditions treated Anxiety Depression Family issues Grief Trauma Loneliness Eating disorders Others talk space LO 5#6Two distinct, growing business lines Largest in-network virtual behavioral health provider in the US 130M covered lives cigna aetna Optum Elevance Health Member sessions (K) 1000 750 500 250 0 115 2020A 274 2021A 426 2022A 830 2023E Largest in-network provider based on data of disclosed covered lives. 1 Q3'23 reported covered lives, in addition approximate 15M additional cited during Q3 23 Earnings Call; actual results to be reported later in Q1'24 2 Calculated based on flat Payor sessions in Q4¹23 relative to Q3'23 based on Nov 23 reported guidance; actual results to be reported later in Q1'24 Leading direct-to-enterprise provider with employers, schools and government TAO GROUP lendingtree HOSPITALITY University of Kentucky Education Retail NYC Health Health care Technology Hospitality talk space 6#7Combating the youth mental health crisis The U.S. is facing a dire crisis among our youth 1: CDC The U.S. Surgeon General: Mental health is the defining public health crisis of our time 40% Of teenagers state that they struggle with persistent feelings of sadness or hopelessness¹ 62% Increase in suicide rate among young people ages 10-24 between 2007 and 2021¹ Talkspace is having an impact in schools FIERCE Healthcare DIGITAL HEALTH Talkspace inks $26M contract with NYC to provide free mental health services to teens By Heather Landi - Nov 21, 2023 5:00pm Talkspace New York City Department of Health and Hygiene. Behavioral Health NEWS EDUCATION mental health Subscribe THE BALTIMORE SUN ||| LvQ Baltimore County high schoolers offered free online therapy services through Talkspace talk space 7#8Making a difference in the lives of teens Ice "Knowing that I can text my therapist whenever I need and she can get back to me as soon as she can is also really comforting. I always know that somebody is there for me when I need them." - Ice talk space 8#9We continue to lead with innovation A.I. tools to support clinical efficacy and operational excellence Proprietary machine learning model helps providers identify and respond to suicide risk ● Detects language patterns consistent with high-risk behaviors that place individuals at risk for self-harm 83% accurate when compared with a human expert¹ Has flagged 32k members since launch, of whom more than 50% demonstrated improved outcomes Model was re-validated for teen members Additional clinical and business operations A.I. tools in development 1: Psychotherapy Research (published paper) Psychotherapy Psychotherapy Research ISSN: (Print) (Online) journal homepage: https://www.tandfonline.com/loi/tpar20 Just in time crisis response: suicide alert system for telemedicine psychotherapy settings Niels Bantilan, Matteo Malgaroli, Bonnie Ray & Thomas D. Hull To cite this article: Niels Bantilan, Matteo Malgaroli, Bonnie Ray & Thomas D. Hull time crisis response: suicide alert system for telemedicine psychotherapy settings, Pr Research To link to this article: https://doi.org/10.1080/10503307.2020.1781952 Published online: 19 Jun 2020. Submit your article to this journal C View related articles View Crossmark data Full Terms & Conditions of access and use can be found at https://www.tandfonline.com/action/journalinformation?journalCode=tpsr2 Routledge T& Proprietary Al Algorithm Alerts Therapists to Suicide Risk in Patients Utilizing the Talkspace Platform Sember 12, 2s A POF Version over the last three years of identifying in 12 2023-ul of sucide. Uning machine learning capabies, the Takspace platform Suicide Prevention Awareness Monith, Talkspace announced the results of its unique Al NEW YORK-(BUSINESS WIRE)-Sep algonthm of can detect language patterns consistent with high-risk behaviors that place individuals at risk for self-harm. The analysis runs real-time on messages sent by patients in their secure and encrypted virtual therapy room and triggers an urgent alert to the therapist While Talkspace is not a crisis response service, an alert that an individual is displaying signs of suicidal ideation allows the provider to respond with appropriate care A subset of anonymized consenting clients flagged for risk suggests the model is 83% accurate Technology will never replace that uniquely human interaction that occurs between provider and potent. However, we will prioritize machine leaming capabilities that offer clinical assistance to improve the ability of our therapists to deliver the highest quality of care said Jon Colon MD, CEO of Talkspace. In aght of escalating suicide rates in the midst of a growing mental health crisis, developing and scaling technological aids for early intervention is mission critical for Talkspace d, dient-consented therapy transcripts to distinguish massage displa to displaying suicidal risk from those without Research putished in The natural language processing (NLP) model was developed by Takspace in partnership with researchers at NYU Grossman School of Medicine and trained on anonymized Paychapyawarah titled "Just in time crisis response. Suicide alert system for medicin psychotherapy atings" (NYU Grossman School of Medicine, Bantian N. Malgarais M, Ray, B. & Hull TD (2020) presents evidence that the suicide and nak detection algorithm identified risk from non- risk content with 83% accuracy when compared to a human expert evaluating that same material Since 2019, when it was introduced onto the platform, Takapaca's proprietary NLP model has flagged approximately 32,000 Takspace members whose written mage to their therapists have shown signs of suicidality or risk of self-harm of thoas flagged individuals who continued to receive care through Talkpace, more than 50% demonstrated improved cutcomes. According to an internal provider feedback survey 83% of Talkspace mental health providers find the feature to be useful in providing clinical care and mitigating dinical risk. Talspace will continue to develop Al technology with the goal of supporting mental health providers, enhancing quality of cars, and improving outcomes for patients, Talkspace (Nado: TALK) is a leading virtual behavioral healthcare company committed to helping people lead healthiet happier lives through access to high-quality mental h ntal healthcare At Talkspace, we believe that mental healthcare in care to overal healthcare and should be adable to wwwrytan Talkepsos pioneered the ability to text with a licensed therapist from anywhere and now offers a comprehensive aute of mental health services from self- guided products to individual and couples therapy, in addition to psichiatric treatment and medication management. With Talkspace's comm psychotherapy offering members are matched with one of thousands of licensed providers across all 50 states and can choose from a variety n subscription f plans including ve video, text or audio chat sessions and/or asynchronous text messaging. All care offered at Talkspace is delivered through an easy-to-use, fully-encrypted web and mobile platform that meets HIPAA, federal and state regulatory requirements. Talkspace covers approximately 110 milion lives as of June 30, 2023, through our partnerships with employers health plans, and paid benefits programs For more information, visit www.talkspace.com View source version on businesswire.com https://www.businesswire.com/s/home/20230912608879/ Media: John Kimijim skick.com Source: Talkspace talk space 9#10Proven track record of delivering results ✓ Growth of provider network ~60% Progress to break-even 2022A EBITDA: -$60M 2023E EBITDA: -$16M¹ ✓ Increased covered lives 2022A: 92M 2023E: 130M 3 1 Guidance provided during Q3'23 Earnings Call on November; actual results to be reported later in Q1 24 2 Assumes Q4 23 OPEX flat to Q3'23; actual results to be reported later in Q1 '24 3 Q3'23 reported covered lives, in addition to approximate 15M additional cited during Q3'23 Earnings Call; actual results to be reported later in Q1'24 4 Calculated based on flat Payor sessions in Q4 23 relative to Q3'23 based on Nov 23 reported guidance; actual results to be reported later in Q1'24 Note: OPEX reflected as recurring OPEX, less SBC and D&A Reduction in Opex 2022A: $120M 2023E: $88M 2 ✓ Increased payor sessions 2022A: 430K 2023E: 830K ✓Launch of teen offering New York Baltimore County talkspace 10#11Strong long-term growth plan Reach break-even by end of Q1 Grow covered lives Strong cash position (>$120M) Maintain strength with employers Pioneer investments in clinical A.I. tools Grow profitability Continued momentum with teens and public schools Launch needle-moving strategic partnerships talkspace 11#12Medicare: 2024 launch Market covered lives 34M Standard Medicare 32M Medicare Advantage 1: KFF 2: Pew Research Note: Market covered lives includes all Medicare and Medicare Advantage enrolled lives Older adults are also struggling with mental health challenges 2.5x Increase in prevalence of anxiety or depression among those 65+ between 2018 and 2020¹ And are likely to use Talkspace as a remedy 61% Of those 65+ years old use smartphones² talk space 12#13talk space Talkspace A leader in virtual behavioral healthcare 42nd Annual J.P. Morgan Healthcare Conference Jon R. Cohen, M.D., CEO Jennifer Fulk, CFO JANUARY 11, 2024 40 9:41 Friday February 10 < Rooms 'elpful tips CO M O Jason Smith Therapist, MS LCSW I understand how this would impact your mood. It's really challenging to receive feedback when you're already... No I start? talk space 03:20 What should I expect from my therapist? Tip 2/6 .ve sessions Next session scheduled for Friday, Feb 15 Clinical progress Complete your assessment by Friday, Feb 21 01:54 Exercises Alleviate stress and improve your coping skills 100% 12:00 PM> What does the s of therapy look li Tip 3/6 > talkspace 13