P3 Health Partners SPAC Presentation Deck

P3 Health Partners: Nationally Scalable, Capital Efficient, Physician-Led Partnership Model Population Health Deeply Experienced Team Improved Speed to Scale Rapidly Scalable Model Addresses A Major Issue Partner vs Build Model Capital Efficient Growth Payor + Provider Market Entry Strategy Drives Organic Growth Proven Medical Cost Mgmt Strong Value Prop Attractive Economics Led by one of the most experienced management teams in population health Leverage experience and learnings from Health Care Partners to improve speed and scale to market Core care management model based on 20+ year experience in medical cost management Physician-led organization helps drive local market PCP affiliate partnerships Low barriers to adoption: Strong demand from health insurers to capitate risk for Medicare Advantage lives ➤ Leverages existing installed physician base across U.S. enabling accelerated market entry Addresses scaleability issue of previous models that attempted to scale, but failed Partner with existing physician base (affiliate model) versus building new (employed / clinic model) Built-in patient panel day 1 vs lag in building Capital efficient market entry - not acquiring doctor groups and no deep and lengthy J curve to maturity Expected near-term path to profitability Rapid full provider network build in local markets to enhance speed of scale Enters market with payor partnerships to accelerate member growth, attribution and fully delegated risk Partners with local providers vs displacing, maintaining the patient and physician relationship Develops full network of primary care, specialty and ancillary providers Target Medicare Advantage ("MA"): Unique and significant opportunity to drive waste out of the system Strong economic potential under value-based care ("VBC") arrangements Proven care management model delivers high-quality, low cost care to Medicare Advantage members Significant investment in tech enabling care model to drive better patient outcomes and economics ¹ Represents 2021E projections; 2 Represents long-term target Please see slides 50-52 for important information and legal disclaimers regarding certain matters, including: (i) confidentiality; (ii) forward-looking statements; (iii) use of projections; and (iv) financial measures 20+ Year Track Record HealthCare Partners Experience $0 To $600mm¹+ Revenue In 4 Years High ROI Model Limited Capital Investment & Cash Burn vs Other Models 11 Markets, 4 States In 4 Years Expected 3-5 New Markets Annually 35% LT Patient Growth² Track Record Of Meaningful MCR Improvement 20%+ LT EBITDA Margin² P3

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