Privia Health IPO Presentation Deck

Safe Safe Harbor Important Notice and Disclaimers This presentation and the information contained herein constitutes confidential information and is provided to you on the condition that you will hold it in strict confidence and not reproduce, disclose, forward or distribute it to any third party in whole or in part without the prior written consent of Privia Health Group, Inc. ("Privia", "Privia Health" or the "Company"). We have filed a registration statement on Form S-1 (including a preliminary prospectus) with the Securities and Exchange Commission (the "SEC") for the offering to which this presentation relates. The registration statement has not yet become effective. Our securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. Before you invest, you should read the preliminary prospectus and the other documents we file with the SEC for more complete information about us and the offering to which this presentation relates. You can obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the preliminary prospectus may be obtained from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526 or by email at [email protected]; or J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at (866) 803-9204 or by email at [email protected]. Forward-Looking Statements: This presentation contains forward-looking statements that reflect the Company's current views with respect to, among other things, its operations, its financial performance, its industry and the impact of COVID-19 on its business. Forward-looking statements include all statements that are not historical facts. In some cases, you can identify these forward-looking statements by the use of words such as "outlook," "believe(s)." "expect(s)." "potential," "continue(s)," "may," "will," "should," "could," "would," "seek(s)," "predict(s)," "intend(s)," "trends," "plan(s)." "estimate(s)," "anticipates," "projection," "will likely result and/or the negative version of these words or other comparable words of a future or forward-looking nature. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. Market and Industry Data: This presentation includes market and industry data and forecasts that the Company has derived from independent consultant reports, publicly available information, various industry publications, other published industry sources, and its internal data and estimates. Independent consultant reports, industry publications and other published industry sources generally indicate that the information contained therein was obtained from sources believed to be reliable. Although the Company believes that these third-party sources are reliable, it does not guarantee the accuracy or completeness of this information, and the Company has not independently verified this information. The Company's internal data and estimates are based upon information obtained from trade and business organizations and other contacts in the markets in which the Company operates and management's understanding of industry conditions. Although the Company believes that such information is reliable, it has not had this information verified by any independent sources. Non-GAAP Financial Measures: This presentation contains the financial measures of Adjusted EBITDA, Care Margin, Free Cash Flow, Platform Contribution and Platform Contribution Margin, which are not required under generally accepted accounting principles in the United States ("GAAP"). The Company believes that these non-GAAP financial measures provide users of its financial information with useful supplemental information that enables a better comparison of its performance across periods. The Company defines Adjusted EBITDA as net income (loss) attributable to Privia Group Inc. shareholders and subsidiaries excluding minority interests, provision (benefit) for income taxes, interest income, interest expense, depreciation and amortization, stock-based compensation, severance charges and other non-recurring expenses. The Company considers Adjusted EBITDA to be an important measure because it helps illustrate underlying trends in its business and its historical operating performance on a more consistent basis. The Company defines Care Margin as total revenue less the sum of physician and practice expenses. The Company considers care margin as all of the dollars available to manage its business, and believes that this non-GAAP financial measure, when taken together with the corresponding GAAP financial measures, provides meaningful supplemental information regarding its performance by excluding certain items that may not be indicative of its business, results of operations or outlook. The Company defines Free Cash Flow as EBITDA minus capital expenditures. The Company believes that Free Cash Flow provides useful information regarding how cash provided by operating activities compares to the capital expenditures required to maintain and grow its business. The Company defines Platform Contribution as total revenue less the sum of (i) physician and practice expense and (ii) cost of platform. The Company defines Platform Contribution Margin as Platform Contribution divided by Care Margin. The Company considers both Platform Contribution and Platform Contribution Margin to be important measures to monitor its performance, specifically as it relates to the pricing of its services, direct costs of delivering care, and cost of its technology-enabled platform and associated services, and believes that Platform Contribution and Platform Contribution Margin, when taken together with their corresponding GAAP financial measures, provides meaningful supplemental information regarding its performance by excluding certain items that may not be indicative of its business, results of operations or outlook. Adjusted EBITDA, Care Margin, Free Cash Flow, Platform Contribution and Platform Contribution Margin are not comparable to similarly titled measures used by other companies, and have limitations as analytical tools and should not be considered in isolation, or as substitutes for analysis of the Company's operating results as reported under GAAP. Additionally, the Company does not consider its non-GAAP financial measures as superior to, or a substitute for, the equivalent measures calculated and presented in accordance with GAAP. PROPRIETARY AND CONFIDENTIAL OPRIVIA HEALTH