Teladoc Investor Day Presentation Deck

Opex leverage: a combination of increasing revenue yield and cost efficiencies Revenue per $1 of customer acquisition and engagement marketing expense Teladoc X HEALTH 2016 26% CAGR 2.0x (1) Revenue growth excluding DTC per $ of sales expense 2019 Technology, G&A, Legal and Regulatory costs as a % of revenue 22 ppts improvement 63.0% 2016 41.0% 2019 Teladoc Health, Inc Investor Day 2020 Incremental revenue per $1 of sales headcount expense(¹) X 2016 7% CAGR 1.2x 2019 130

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