Max MyHealth Digital Platform & CSR Initiatives

MAX Healthcare Strong cash generation from operations INR 924 Cr in 9M FY24 + Headroom to raise debt given current leverage Net Cash Surplus of INR 1,295 Cr as on Dec. 31, 2023 + Demonstrated ability to generate high return on capital employed ~35% ROCE in 9M FY24 Long term growth potential Multiple avenues for future growth • Focus on tower specialities & case mix 1 2 Optimising Existing Infrastructure 3.1 Brownfield • Increase utilization & improve process efficiencies Optimize payor mix ~2,600 beds addition via brownfield expansion - ROCE accretive Strong financial profile to support future growth 4 3 Significant increase in capacity (~2X bed capacity in 3.2 Asset light 3.3 Greenfield next 4-5 years) 3.4 M&A Capital Light Adjacencies 5 Digital Platform R . . • • • • Management contracts and long-term leases of "build-to- suit" properties Greenfield hospitals in highly attractive and compelling territories with attractive payback - Acquired land parcels with potential to add 1,000 beds Strong track record of successful M&A and turnaround Adequate headroom for M&A even after brownfield capex, driven by strong free cash flows and low leverage Robust deal pipeline - recently acquired Sahara Hospital in Lucknow and Alexis Hospital in Nagpur ROCE threshold levels of 20-25% within 4-5 years post acquisition Non-captive pathology - Max Lab . Homecare Max@Home Leverage brand, customer loyalty and data to build a digital ecosystem 15

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