Babylon SPAC Presentation Deck

Attractive Illustrative Economics of Babylon's Modular & Bundled Product Offerings Babylon VBC Clinical Services Software Licensing ● • ● ● ● Description Combines Babylon's digital health suite and virtual care platform to manage the totality of a patient's healthcare Takes full financial responsibility for all costs incurred in both primary, secondary and tertiary care settings, with stop loss protection Payment on a fixed and recurring capitation basis per covered life with ability to capture any cost savings On-screen consultations with a clinical professional Preventable and proactive care management Digital suite of Al and monitoring products Care navigation and non-clinical support available by live chat 1 I I T I I I I I I I I I I 1 I I Revenue Model PMPY Capitated model PMPM Fee-for-service I I Annual licensing fees! I Illustrative Revenue per Life Covered (1)(2) Thousands of Dollars Tens of Dollars Illustrative Example: Cents PMPY + Tens of Dollars Fee-For-Service Dollars ! Projection Based on Management Estimates (³) 1 I 1 I I I I I I I I I I I I Illustrative Gross Margin by Cohort(2) I I ~5% YO 17% (4) Case Study: Select UK Contracts Y1 30%+ -55% Y3 YO 25% (5) Case Study: Select Software Contract(6) Y3 90%+ Y1 Notes: 1) Management estimates based on active contracts. 2) Indicative proportions shown, as details are partner-specific. Gross profit reflects Revenue less Cost of Care Delivery. 3) Based on analysis vs VBC competitors with a brick & mortar model who lack front-end digital services and back-end digital automation services. 4) Gross Y1 (June 19 - June 20) Margin from select UK contract. 5) Average of select B2B contracts' Gross Margin over FY20. 6) Gross Margin as shown includes some technology costs that are classified as operating expenses in the company's financial projections. 76

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