Leading Radiology Forward slide image

Leading Radiology Forward

Current Capitalization and Equity Cushion Valuation Metrics Equity Market Capitalization @ $21.73 per share Net Debt -12/31/202 2 Curent Enterprise Value 1 $1,135.9 mm 563.7 mm $1,699.6 mm 2019 EBITDA Midpoint of 2021 EBITDA of Guidance $ 164.1 mm $ 185.0 mm Enterprise Value / Trailing 12 Month EBITDA 10.4 x Enterprise Value / Midpoint of 2019 EBITDA Guidance 9.2 x Company Capitalization as of 12/31/20 •$102.0mm cash balance • Undrawn on revolving line of credit (L+350 bps) due July 2023 ($195mm capacity) • $611mm Senior Secured Term Loan at RadNet • $2mm equipment debt • $53mm New Jersey Imaging Network JV debt (RadNet is not the borrower or guarantor) 2021E Free Cash Flow (Adj. EBITDA less CapEx and Cash Interest) is expected to be $60-70mm, representing an attractive Free Cash Flow Yield to equity holders and provides for deleveraging Future earnings and cash flow shielded by Federal NOLs of $227.7 million as of 12/31/20 1. Per closing stock price on 3/23/2021. 2. Source: RadNet 8-K ended 12/31/2020. Net Debt is Total Debt at par value less Cash and Cash Equivalents balance. RadNet. Leading Radiology Forward 10
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