Inovalon Results Presentation Deck

Reconciliation of Forward-Looking Guidance Adjusted EBITDA Inovalon defines Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA) as net income or loss calculated in accordance with GAAP, adjusted for the impact of depreciation and amortization, other expense, net, interest income, interest expense, provision for income taxes, stock-based compensation, acquisition costs, restructuring expense, and other non-comparable items. Adjusted EBITDA margin is defined as Adjusted EBITDA as a percentage of revenue. A reconciliation of net income to Adjusted EBITDA follows: (In millions) Reconciliation of Forward-Looking Guidance Net income to Adjusted EBITDA: Net income Depreciation and amortization Interest expense Interest income Provision for income taxes EBITDA Stock-based compensation (2) Other non-comparable items Adjusted EBITDA Adjusted EBITDA margin INOV Q1 2020 Earnings Supplement (4.29.20) v1.0.1 Three Months Ending June 30, 2020 Low High 28 14 TH 42 7 50 31.8% Guidance Range 69 2 28 14 44 7 52 31.9% Year Ending December 31, 2020 Low High 16 110 58 (1) 7 190 27 221 32.9% $ 22 110 59 (1) 199 28 4 231 33.1% A 28% statutory tax rate is assumed in order to approximate the Company's effective corporate tax rate. Other "non-comparable items include items that are not comparable across reporting periods or items that do not otherwise relate to the Company's ongoing financial results, such as certain employee related expenses attributable to advancements in automation and operational efficiencies, and legal expenses beyond those in the normal course of business. Non-comparable items are excluded from Adjusted EBITDA in order to more effectively assess the Company's period over period and ongoing operating performance. 30

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