UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________________________________________________ FORM 10-Q __________________________________________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2020 For the transition period from to Commission File Number 001-36092 Premier, Inc. OR ☐ TRANSITION R ...

Financial Data and Key Metrics Changes - Consolidated net revenue for Q2 2021 was $422.8 million, reflecting a 32% increase year-over-year [45] - Supply chain services segment revenue increased by 41% to $329.1 million, while performance services segment revenue grew by 8% to $93.7 million [45] - Adjusted EBITDA for Q2 2021 was $124.8 million, a 16% decrease from the prior year [51] - Adjusted earnings per share decreased by 12% to $0.65 [51] Business Line Data and Key Metrics Changes - Performance services revenue growth was driven by new technology and consulting agreements, including enterprise license agreements [50] - Products revenue surged by 210% due to $120 million in incremental revenue from PPE and other high-demand supplies [49] - Supply chain services faced a decrease in net administrative fees revenue, primarily due to amended GPO agreements and a decline in member purchasing volume [46][47] Market Data and Key Metrics Changes - The ongoing COVID-19 pandemic has negatively impacted healthcare utilization, particularly elective procedures, affecting overall revenue [58] - The company anticipates a sequential increase in direct sourcing products revenue by $20 million to $30 million in Q3 2021 [59] Company Strategy and Development Direction - The company aims to target multi-year compound annual growth rates in the mid-to-high single digits for consolidated net revenue, adjusted EBITDA, and adjusted earnings per share starting in fiscal 2022 [28][62] - There is a focus on expanding into adjacent markets, including payer, life sciences, and employer markets, leveraging technology and consulting services [30] - The company is enhancing its healthcare supply chain resilience through partnerships and domestic production initiatives [38] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding the new Biden administration's focus on mass vaccination and healthcare improvements, which may stabilize the policy environment [19][21] - The company is closely monitoring healthcare utilization and the impact of the pandemic on its operations, with a commitment to supporting members during this challenging time [18][58] Other Important Information - The company announced a quarterly cash dividend of $0.19 per share, payable on March 15, 2021 [54] - Cash and cash equivalents totaled $109 million at December 31, 2020, compared to $99.3 million at June 30, 2020 [54] Q&A Session Summary Question: Future of Telemedicine - Management does not plan to enter telemedicine directly but sees opportunities to enhance clinical decision support tools for telemedicine visits [67][70] Question: Performance Services Growth - Performance services growth was consistent with Q1, driven by analytics agreements and strong growth in clinical decision support [76] Question: Life Sciences and Contigo Metrics - The life sciences business is seeing strong growth, with a robust pipeline and increased engagement with pharmaceutical companies [80] Question: Non-Healthcare GPO Admin Fees - The company does not expect a rapid recovery in non-healthcare GPO admin fees due to ongoing pandemic impacts [112] Question: Yankee Alliance Partnership - The partnership aims to capture more member spend through customized GPO portfolios, with potential for similar partnerships with other healthcare systems [95]