Revenue Growth - Revenue for the year ended December 31, 2022, was $1,356.7 million, an increase from $966.2 million in 2021 and $817.1 million in 2020[400] - Practice Collections reached $2.42 billion in 2022, up from $1.63 billion in 2021 and $1.30 billion in 2020[400] - Revenue for the year ended December 31, 2022, was $1.36 billion, an increase of 40.4% from $966.2 million in 2021[456] Financial Performance - Adjusted EBITDA for 2022 was $60.9 million, compared to $41.4 million in 2021 and $29.4 million in 2020[400] - Adjusted EBITDA increased by 47.1% for the year ended December 31, 2022, compared to 2021, driven by organic growth and new market entry[442] - Adjusted EBITDA margin improved to 19.9% in 2022, up from 17.4% in 2021, indicating enhanced operational efficiency[443] - The company reported a net loss attributable to Privia Health Group, Inc. of $8.6 million in 2022, significantly improved from a loss of $188.2 million in 2021, a reduction of 95.4%[456] Value-Based Care (VBC) Initiatives - VBC revenue represented 28.5% of total revenue in 2022, significantly up from 12.4% in 2021 and 11.4% in 2020[405] - The company aims to enhance its VBC capabilities and accelerate the transition to VBC reimbursement across all markets[416] - The company aims to increase risk levels in value-based care programs to enhance revenue opportunities per patient over time[419] Provider and Patient Metrics - The number of Implemented Providers increased by 8.7% from 3,317 in 2021 to 3,606 in 2022, and Attributed Lives rose by 8.9% from 786,000 to 856,000 during the same period[423][426] - The launch of Privia Care Partners in January 2022 attracted approximately 350 providers and over 42,000 Attributed Lives by January 2023[421] - As of January 1, 2023, the company's capitated agreements cover healthcare services for approximately 40,600 Medicare Advantage beneficiaries[418] Cost Management - Provider expenses rose to $1.05 billion in 2022, a 44.4% increase from $727.8 million in 2021, primarily due to new at-risk capitation arrangements[459] - Cost of platform expenses decreased to $170.8 million in 2022 from $174.7 million in 2021, a reduction of 2.2%[460] - Sales and marketing expenses were $19.7 million in 2022, down 13.2% from $22.7 million in 2021, reflecting cost management efforts[461] Partnerships and Expansion - The company launched three new Accountable Care Organizations (ACOs) in early 2022 and three more in the first two months of 2023, bringing the total to ten ACOs[417] - The company entered a partnership with Surgery Partners, Inc. to expand into Montana, establishing Great Falls Clinic as an anchor practice[410] - In November 2022, a joint venture with Novant Health Enterprises was announced to launch Privia Medical Group in North Carolina[411] Cash Flow and Liquidity - Cash and cash equivalents as of December 31, 2022, were $348.0 million, supported by proceeds from the IPO and cash flows from operations[480] - Net cash provided by operating activities was $47.2 million in 2022, down from $55.1 million in 2021[485] - Net cash used in financing activities was $19.7 million for the year ended December 31, 2022, compared to net cash provided of $213.7 million in 2021, primarily due to the IPO proceeds in 2021[489] Revenue Streams - Capitated revenue for 2022 was $218.5 million, marking a new revenue stream for the company[456] - Shared savings revenue increased by 59.7% to $132.6 million in 2022, driven by growth in Medicare programs[456] - Other revenue sources include concierge services, virtual visits, and partnerships with self-insured employers, with CARES Act funds recorded as other revenue until December 31, 2021[516] Market Risks and Economic Factors - The Company faces market risks primarily from rising interest rates, with its Credit Agreement bearing interest at a floating rate linked to LIBOR plus 1.5% or ABR plus 0.5%[520] - Inflation has not materially affected the Company's operating results, although future inflation could pose risks[521]

(2) Platform Contribution is total revenue less the sum of physician and practice expense and cost of platform. (5) Amount represents stock-based compensation expense included in Cost of Platform. For the Nine Months Ended (3) Adjusted EBITDA is net income (loss) ottributable to Privid Heath Group, Inc. shoreholders and substition's excluding minority interests, provision (benefit) for income income, interest expense, depreciation and amortization, stock-based compensation, severance charges and other non-r ...

Financial Data and Key Metrics Changes - Privia Health reported a 52.5% increase in practice collections year-over-year, reaching approximately $611.9 million in Q3 2022 [11][26] - Adjusted EBITDA grew by 12.9% compared to Q3 2021, totaling $15.7 million [11][27] - Year-to-date practice collections increased by 60.8% to nearly $1.8 billion, with care margin up 32.9% [27][30] Business Line Data and Key Metrics Changes - The number of implemented providers increased by over 27% year-over-year, with nearly 3,600 providers now caring for over 4 million patients [11][15] - The company expects to enter new markets, including North Carolina and Ohio, enhancing its growth potential [12][14] Market Data and Key Metrics Changes - The company operates in 10 states and the District of Columbia, with plans to expand further [15] - Privia Health covers approximately 846,000 attributed lives across more than 80 at-risk payer contracts [20] Company Strategy and Development Direction - The company aims to build one of the largest medical groups in each state it enters, focusing on long-term growth and value-based care [14][47] - Privia Health's partnerships with health systems like Novant Health and OhioHealth are designed to support independent providers and enhance value-based care delivery [13][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth outlook for the remainder of 2022 and into 2023, citing strong business momentum and updated financial guidance [9][30] - The company remains focused on expanding its provider network and attributed lives, with expectations for continued growth [32] Other Important Information - The company has no debt and a pro forma cash position of $342 million, indicating strong financial health [28] - Privia Health's guidance for practice collections has been raised to a range of $2.325 to $2.4 billion for 2022 [30] Q&A Session Summary Question: Reduction in value-based commercial VBC lives - Management indicated that the reduction is due to a combination of provider terminations and health plan contract changes, with minimal financial impact [35][36] Question: MSSP program changes and benefits - Management confirmed that the 2021 performance exceeded expectations, contributing positively to their financial results [38][39] Question: New market entry strategy - Management emphasized a long-term strategy to build large medical groups in new states, leveraging partnerships with health systems [46][47] Question: Implemented providers in 2023 - Management expects to add 400 to 500 providers organically each year, with potential additional providers from partnerships [54] Question: Impact of inflation on staffing and provider partnerships - Management noted that inflation is being managed and that financial stress on practices may increase demand for their services [73][75] Question: Future capital allocation strategies - Management highlighted the flexibility to consider share repurchases if stock prices deviate significantly from intrinsic value, while also focusing on growth opportunities [80][81]

Table of Contents 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 June 30, 2022 OR ☐ 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 001-40365 _________________________ Privia Health Group, ...

Financial Data and Key Metrics Changes - Privia Health reported practice collections of over $615 million in Q2 2022, representing a 67.6% increase year-over-year [21][11] - Adjusted EBITDA reached a record $15.5 million, up 54.8% compared to the same period last year, with an adjusted EBITDA margin of 20.4% [21][22] - For the first half of 2022, practice collections increased by 65.5% to nearly $1.2 billion, and adjusted EBITDA grew 51.8% to $30.3 million [23][24] Business Line Data and Key Metrics Changes - The number of implemented providers grew by 31.5% year-over-year, with over 3,500 providers now serving approximately 3.9 million patients [9][15] - Value-based attributed lives increased by 15.8% to cover approximately 856,000 lives across various programs [17][21] - The company has over 80 at-risk contracts, reflecting a diversified approach to value-based care [17] Market Data and Key Metrics Changes - The company operates in eight states and the District of Columbia, with a significant presence in primary care and over 50 specialty types [15][16] - The Medicare Shared Savings Program (MSSP) continues to be a key focus, with CMS showing strong support for the program [13][14] Company Strategy and Development Direction - The company aims to expand its provider partnerships, increase attributed lives, and enter new markets while driving profit margin expansion [9][10] - The focus remains on leveraging a capital-efficient operating structure to support accelerated topline growth [11][12] - The business development pipeline is robust, with plans to enter new markets in the coming years [12][25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth outlook for 2022 and beyond, citing strong business momentum and visibility into growth metrics [10][11] - The company is focused on maintaining high levels of provider retention and same-store growth [12][21] - Management noted that the operating model is designed to provide significant opportunities for topline and EBITDA growth [18][22] Other Important Information - The company repaid all outstanding debt in June 2022, with cash and cash equivalents of $292.2 million [23][24] - The guidance for practice collections, GAAP revenue, and care margin has been raised to the high end of previous ranges [24] Q&A Session Summary Question: Comments on Medicare Physician Fee Schedule and MSSP program changes - Management believes the proposed changes are beneficial for Privia, particularly due to CMS's endorsement of the MSSP [29][30] Question: Outlook for 2023 and new market entries - Management indicated strong visibility for 2023 based on current sales pipeline and execution, with potential new market entries not yet reflected in guidance [32][33] Question: Utilization trends in risk and fee-for-service business - Management noted that ambulatory utilization is running ahead of expectations, while inpatient utilization remains difficult to predict [40][41] Question: Growth in value-based care lives - Growth is broad-based across commercial, MA, MSSP, and Medicaid, with a focus on increasing lives in all categories [46][48] Question: Update on new markets entered last year - All new markets are operational, with initial sales efforts underway and positive expectations for growth, particularly in California [59][60] Question: Performance of new full-risk contracts - Management is taking a conservative approach in recognizing revenue from new full-risk contracts, with early data being monitored [66][68] Question: Patient attributed lives and long-term growth algorithm - Management explained variability in attributed lives and emphasized that growth in providers leads to increased attribution over time [75][78] Question: Satisfaction levels among large groups - Satisfaction levels are high, with low attrition rates, indicating strong provider relationships [83][84] Question: Risks associated with full-risk contracts - Management acknowledged the inherent risks in taking on more risk but expressed confidence in their ability to manage these contracts effectively [88][89]

2 nd Quarter 2022 Results August 11, 2022 Shawn Morris – Chief Executive Officer Parth Mehrotra – President & COO David Mountcastle – Chief Financial Officer 1 Disclaimer Forward-Looking Statements This presentation contains forward-looking statements that express the Company's opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results that include, but are not limited to: 2022 financial guidance and other projections and forecasts. These forward ...

Financial Data and Key Metrics Changes - Practice collections increased to $561.9 million, up 63.3% year-over-year [22][10] - Adjusted EBITDA reached a record $14.8 million, up 48.8% compared to the same period last year [23][10] - Care margin increased by 36.4%, with adjusted EBITDA margin as a percentage of care margin rising 180 basis points to 20.7% [23][24] Business Line Data and Key Metrics Changes - Capitated revenue was reported at $48.3 million in Q1 2022, contributing to the overall practice collections [22][31] - The company added a solid number of new providers in existing markets, maintaining a high level of provider retention [12][10] Market Data and Key Metrics Changes - The company now has 3,370 implemented providers caring for over 3.8 million patients across 870 practice locations in eight states and the District of Columbia [17][10] - The number of attributed lives under at-risk payer contracts increased by 17.6% year-over-year, covering approximately 848,000 lives [20][10] Company Strategy and Development Direction - Privia Health aims to build one of the largest primary care-centric ambulatory care delivery networks in the U.S., partnering with various provider types and participating in value-based arrangements [14][10] - The introduction of Privia Care Partners allows for a partnership model with provider practices looking to engage in risk-bearing entities [15][10] Management's Comments on Operating Environment and Future Outlook - Management expressed high confidence in growth outlook for 2022 and beyond, driven by strong operational execution and clinical performance [9][10] - The company anticipates continued momentum in practice collections and EBITDA growth, with expectations for practice collections and care margin to be at the high end of guidance ranges [24][10] Other Important Information - The company ended Q1 with a net cash position of over $283 million, indicating strong financial flexibility to support growth initiatives [26][10] - Management emphasized the importance of maintaining a solid balance sheet and positive annual free cash flow [25][10] Q&A Session Summary Question: What portion of practice collections was from value-based care? - Management confirmed that the total value-based care portion would be higher than the reported $48.3 million from capitated revenue, with shared savings also contributing [30][33] Question: How many providers are sold but not yet implemented? - Management indicated that it takes about five to six months to implement providers, and they have visibility through the end of the year with a robust pipeline [35][37] Question: What is the expected trend for capitated lives in Medicare Advantage? - Management stated that they expect to grow the number of capitated lives year-over-year, with a stable trend anticipated for the rest of the year [41][42] Question: How is cash flow expected to trend throughout the year? - Management noted that Q1 typically shows negative cash flow due to timing issues, but they expect cash flow to improve throughout the year [45][46] Question: What are the key drivers for care margin growth? - Management explained that care margin is expected to trend upwards, with true-ups for prior periods likely contributing to increases later in the year [80][81] Question: How is the company managing inflation and rising costs? - Management acknowledged that while inflation affects all providers, their model is attracting more physicians seeking autonomy and support, which is driving growth [113][114]

1 st Quarter 2022 Results May 12, 2022 Shawn Morris – Chief Executive Officer Parth Mehrotra – President & COO David Mountcastle – Chief Financial Officer 1 Disclaimer Forward-Looking Statements This presentation contains forward-looking statements that express the Company's opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results that include, but are not limited to: 2022 financial guidance and other projections and forecasts. These forward-lo ...

Table of Contents 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 March 31, 2022 OR ☐ 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 001-40365 _________________________ Privia Health Group, ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________ FORM 10-K _______________________________ Commission file number 001-40365 _________________________ Privia Health Group, Inc. (Exact Name of Registrant as Specified in Its Charter) _________________________ (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 950 N. Glebe Rd., Suite 700 Arlington, Virginia 22203 (Mark One) ☒ ANNUAL REPORT PURSUAN ...