Investor Presentaiton

Financial impact and multiples Financials EV/EBITDA multiples Medlab, ACL, Combined $m COVID-19 Revenue FY21 Normalised 1 Pro Forma FY21 AASB 1175 AASB 165 6.7x 15.5 137.9 153.4 5.7x Non COVID-19 Revenue 77.0 536.5 613.5 Total Revenue 92.5 674.4 766.9 EBITDA AASB 16 (pre- synergies)5 27.0 230.6 257.7 Margin, % 29.2% 34.2% 33.6% 2.6x EBITDA AASB 117 (pre- 2.2x synergies) 10.5 Margin, % 11.3% 143.6 21.3% 154.1 20.1% Expected synergies >10 Post-synergies FY21 EBITDA AASB 117 >164.1 Margin, % 21.3% Upfront Price FY21 Normalised Medlab EBITDA2 Total expected payment / FY21 Normalised Medlab EBITDA³ 3.9x 2.2x Total Purchase price and integration costs / FY21 Normalised EBITDA post-synergies4 Note: (1) Based on PWC Quality of Earnings review. Normalisation from PWC removed Job Keeper but does not otherwise normalise for COVID-19 impact (2) Based on $60M upfront price against $10.5M Medlab FY21 Normalised EBITDA, (3) Based on $70M total price against $10.5M Medlab FY21 Normalised EBITDA (4) Based on $70M purchase price plus $10M integration costs, against $10.5M in FY21 Normalised EBITDA with $10M further synergies (5) Calculated using estimates for AASB-16 lease adjustments 8

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