Investor Presentaiton

4 MAX Healthcare Develop asset light adjacencies: Max Lab - Targeting to be amongst the top 5 players in the industry in next 5 years Organised diagnostics player to grow faster than overall diagnostic Industry driven by consolidation Indian diagnostic Industry market size (INR Bn) 472 FY17 684 FY20 950 FY23P Indian diagnostic Industry mix by type of providers 12-17% ■ Organized 35-40% Hospital based 45-50% Unorganized Shift to organised diagnostics centers driven by preference for higher quality and brands Max Lab (Non-captive Pathology SBU) - Over 13x revenue growth in 4 years Net revenue (INR Cr) 66 55 8 16 4 T T 9% 7.4 EBITDA* (INR Cr) 25% 21% 18% 20% 15% +90% 27 41 35 7% 10% 24 22 4.5 17 20 2 13 39 4 2% - 5% -5 1.6 5 12 15 18 1.0 0.4 0 0% FY17 FY18 FY19 FY20 FY21 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2 FY21 FY22 FY22 FY21 FY21 FY21 FY22 FY22** Non Covid-19 EBITDA margin (%) 21 EBITDA 220+ Partner-run collection centres 13 Company owned collection centres (CoCC) 135+ Phlebotomist At Site (PAS) 200+ Pick-Up Points (PUPS) 19 Hospital based Lab Management (HLMs) 20+ Cities of operations 1,900+ Tests in portfolio Note: All operating numbers as of September 30, 2021; Gross Merchandise Value (GMV) is total value paid by patient; Net Revenue represents GMV minus partner share; *margin computed on net revenue, based on 50:50 revenue share between Max Lab and hospitals for the samples tested in the network hospital labs; **Q2 FY22 EBITDA is after considering investment towards future growth i.e Manpower, advertisement, new website launch, startup costs of new CoCCs etc. 22

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