Inovalon Investor Conference Presentation Deck

Comparable Valuations The following is provided for comparable valuation consideration purposes. 14.3x Veeva Systems VEEV 95 2x Teladoc Health TDOC 12.3x ServiceNow NOW 47.8x 8.7x Teladoc Health TDOC INOV Investor Presentation (1.14.20) v1.0.0 43.0x Splunk ServiceNow SPLK NOW 8.2x Splunk SPLK 38.9x Veeva Systems VEEV 7.7x 7.1x IHS Markt Livongo INFO Health LVGO 30.1x 24.5x 5.7x Benefitfocus Tabula Rasa BNFT TRHC Health Catalyst HCAT 5.2x 18.8x Inovalon INOV Revenue Multiple FY20 16.4x 4.0x IHS Markit Healthstream INFO HSTM Cerner CERN 15.6x IQVIA IQV EBITDA Multiple FY20 NMF: Not Meaningful Source: NASDAQ IR Insight as of January 3, 2020 Business model peers have been selected based upon having similar SaaS and subscription-based business models similar to that of Inovalon. 3.8x HMS HMSY 15.6x Inovalon INOV 3.5x Tabula Rasa TRHC 13.1x HMS HMSY 3.4x IQVIA IQV 12.6x Cerner CERN 2.8x Health Stream Benefitfocus HSTM BNFT 6.4x 2.4x Change Healthcare CHNG NMF Health Catalyst HCAT 2.0x Change Healthcare CHNG NMF Livongo Health LVGO 32

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