Inovalon Results Presentation Deck

Reconciliation of Forward-Looking Guidance Adjusted EBITDA Inovalon defines Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA) as net income or loss calculated in accordance with GAAP, adjusted for the impact of depreciation and amortization, other expense, net, interest income, interest expense, provision for income taxes, stock-based compensation, acquisition costs, restructuring expense, tax on equity exercises, and other non-comparable items. Adjusted EBITDA margin is defined as Adjusted EBITDA as a percentage of revenue. A reconciliation of net income to Adjusted EBITDA follows: (In millions) Reconciliation of Forward-Looking Guidance Net income to Adjusted EBITDA: Net income Depreciation and amortization Interest expense Interest income Provision for income taxes (¹) EBITDA Stock-based compensation Other non-comparable items Adjusted EBITDA Adjusted EBITDA margin INOV Q4 & FY 2019 Earnings Supplement (2.19.20) v1.0.0 Three Months Ending March 31, 2020 Low 27 14 (1) 40 Guidance Range 48 30.3% High 2 S 27 14 2 51 31.3% S Year Ending December 31, 2020 Low High 25 108 59 (2) 10 200 27 231 33.1% $ 31 108 60 (2) 12 209 28 241 33.6% A 28% statutory tax rate is assumed in order to approximate the Company's effective corporate tax rate. (2) Other "non-comparable items include items that are not comparable across reporting periods or items that do not otherwise relate to the Company's ongoing financial results, such as certain employee related expenses attributable to advancements in automation and operational efficiencies, and legal expenses beyond those in the normal course of business. Non-comparable items are excluded from Adjusted EBITDA in order to more effectively assess the Company's period over period and ongoing operating performance. 30

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