| --- | --- | |------------------------|-------| | | | | | | | | | | | | | | | | MultiPlan Q4 & FY 2023 | | Disclaimer This presentation includes statements that express our management's opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results and therefore are, or may be deemed to be, "forward-looking statements". These forward-looking statements can generally be identified by the use of forward-looking terminology, including the terms "believ ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (MARK ONE) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 o For the transition period from to Commission file number: 001-39228 MULTIPLAN CORPORATION (Exact Name of Registrant as Specified in Its Charter) (State or other jurisdiction of in ...

Revenue Performance - Q4 2023 revenues were $244.1 million, a 1.3% increase from Q4 2022 revenues of $241.1 million[5] - Full year 2023 revenues totaled $961.5 million, a decrease of 10.9% compared to $1,079.7 million in 2022[5] - MultiPlan's revenues for 2023 were $961,524 thousand, a decrease of 10.9% from $1,079,716 thousand in 2022[27] - Full year 2024 revenue guidance is set between $1,000 million and $1,030 million, with Adjusted EBITDA guidance of $630 million to $650 million[4] Net Loss and Financial Improvement - The net loss for Q4 2023 was $31.4 million, significantly improved from a net loss of $650.1 million in Q4 2022[5] - The company reported a net loss of $91,697 thousand in 2023, compared to a net loss of $572,912 thousand in 2022, indicating an improvement in financial performance[27] - Net loss for 2023 was $91,697, compared to a loss of $572,912 in 2022, indicating a significant improvement[34] EBITDA and Cash Flow - Adjusted EBITDA for Q4 2023 was $156.8 million, compared to $161.5 million in Q4 2022[5] - Adjusted EBITDA for 2023 was $161,982 thousand, a significant recovery from an operating loss of $362,732 thousand in 2022[27] - EBITDA for 2023 reached $640,215, a substantial increase from $150,103 in 2022[34] - Net cash provided by operating activities for 2023 was $171,720 thousand, a decrease from $372,364 thousand in 2022[30] - Net cash provided by operating activities decreased to $171,720 in 2023 from $372,364 in 2022, indicating lower operational cash flow[36] Medical Cost Savings - The company identified potential medical cost savings of approximately $5.9 billion in Q4 2023, up 2.3% from Q3 2023 and up 9.4% from Q4 2022[4] - Full year 2023 identified potential medical savings reached $22.9 billion, compared to $22.3 billion in 2022[5] Debt Management - The company repurchased and repaid $222 million of debt during 2023, including $25 million in Q4[3] - Long-term debt was reduced to $4,532,733 thousand in 2023 from $4,741,856 thousand in 2022, reflecting a focus on debt management[25] Cash and Assets - The company ended Q4 2023 with $71.5 million of unrestricted cash and cash equivalents[5] - Cash and cash equivalents at the end of 2023 were $71,547 thousand, down from $334,046 thousand at the end of 2022[25] - Total current assets decreased to $193,593 thousand in 2023 from $446,737 thousand in 2022, primarily due to a reduction in cash and cash equivalents[25] - The company’s total assets decreased to $6,964,687 thousand in 2023 from $7,371,104 thousand in 2022[25] Capital Expenditures and Investments - The company made significant investments in property and equipment, totaling $108,852 thousand in 2023, compared to $89,735 thousand in 2022[30] - Net cash used in investing activities rose to $249,792 in 2023, compared to $104,446 in 2022, reflecting increased capital expenditures[36] Efficiency and Cost Management - The Adjusted cash conversion ratio, which measures how much of Adjusted EBITDA is converted into Unlevered Free Cash Flow, is a key performance indicator for the company[23] - Adjusted Cash Conversion Ratio fell to 62% in 2023, compared to 74% in 2022, suggesting a decline in cash conversion efficiency[36] - Integration expenses decreased to $3,358 in 2023 from $4,055 in 2022, showing improved integration efficiency[34] - Stock-based compensation increased to $18,018 in 2023 from $15,083 in 2022, indicating higher employee compensation costs[34] Interest and Expenses - Interest expense increased to $333,208 in 2023 from $303,401 in 2022, highlighting rising borrowing costs[34] - Free Cash Flow decreased to $62,868 in 2023 from $282,629 in 2022, reflecting a decline in cash generation[36] - Unlevered Free Cash Flow for 2023 was $386,264, down from $572,395 in 2022, indicating reduced operational efficiency[36]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended September 30, 2023 o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-39228 MULTIPLAN CORPORATION (Exact Name of Registrant as Specified in Its Charter) Delaware 84-3536151 (State or othe ...

Third Quarter 2023 Results: • Adjusted EBITDA1 of $152.3 million, and Adjusted EBITDA2 margin of 62.7% During the third quarter, we: • Achieved critical milestones in the execution of our Growth Plan, including: • Launched our price transparency solutions, including PlanOptixTM Search in July and PlanOptixTM Intelligence in October • Signed our first customer to our new B2B healthcare payments service through our partnership with ECHO Health 1 See reconciliation of non-GAAP measures included in Appendix 2Ad ...

MultiPlan Corporation (NYSE:MPLN) Q3 2023 Earnings Conference Call November 7, 2023 8:00 AM ET Company Participants Shawna Gasik – Assistant Vice President-Investor Relations Dale White – President and Chief Executive Officer Jim Head – Chief Financial Officer Conference Call Participants Daniel Grosslight – Citigroup Madison Aron – JPMorgan Operator Welcome to the MultiPlan Corporation Third Quarter 2023 Earnings Conference Call. My name is Harry, and I’ll be your operator today. [Operator Instructions] I’ ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended June 30, 2023 o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-39228 MULTIPLAN CORPORATION (Exact Name of Registrant as Specified in Its Charter) Delaware 84-3536151 (State or other jur ...

MultiPlan Corporation (NYSE:MPLN) Q2 2023 Earnings Conference Call August 2, 2023 10:00 AM ET Company Participants Luke Montgomery - Senior Vice President, Finance and Investor Relations Dale White - Chief Executive Officer Jim Head - Chief Financial Officer Conference Call Participants Joshua Raskin - Nephron Research LLC Daniel Grosslight - Citigroup Rishi Parekh - JPMorgan Operator Hello, everyone, and welcome to the MultiPlan Corporation Second Quarter 2023 Earnings Conference Call. My name is Nadia, an ...

1 Forward-Looking Statements Non-GAAP Measures • EBITDA and Adjusted EBITDA do not reflect interest expense, or the cash requirements necessary to service interest or principal payments on our debt; • Although depreciation and amortization are non-cash charges, the tangible assets being depreciated will often have to be replaced in the future, and EBITDA and Adjusted EBITDA do not reflect any cash requirements for such replacements. 2023 Q2 Second Quarter 2023 Results: • Operating cash flow of $7.7 million ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended March 31, 2023 o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-39228 MULTIPLAN CORPORATION (Exact Name of Registrant as Specified in Its Charter) Delaware 84-3536151 (State or other ju ...