Teladoc Investor Day Presentation Deck

Investing in growth while delivering operating leverage 112.6% HEALTH 106.3% Operating Expense ("Opex") Leverage ($ millions) 92.1% 78.9% 76.5% 66.0% 2016 2017 Note: Sales, A&M, Technology, G&A CAGR represents expense inclusive of stock-based compensation. (1) Opex excludes depreciation and amortization, gain on sale, and merger and acquisition related expenses. (2) Adj. Opex excludes stock-based compensation, depreciation and amortization, gain on sale, and merger and acquisition related expenses. (3) Includes legal & regulatory. Teladoc 2018 Teladoc Health, Inc Investor Day 2020 73.0% 60.8% 2019 '16-'19 CAGR Revenue: 65% Opex (¹): 43% Adj. Opex(2): 37% Sales: 35% A&M: 47% Technology: 44% G&A(³): 43% 129

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