Investor Presentation

November 1, 2026 Listing Department Department of Corporate Services National Stock Exchange of India Limited BSE Limited Exchange Plaza, Phiroze Jeejeebhoy Towers, Bandra-Kurla Complex, Bandra (East), Dalal Street, Mumbai - 400 051 Mumbai - 400 001 Symbol: MEDIASSIST Scrip Code: 544088 Subject: Investor Presentation Dear Sir/ Madam, Pursuant to Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, please find enclosed herewith investor presentation of the Company titled: “Medi Assist Healthcare Services Limited-Investor Presentation Q2 and H1FY27” Kindly take the same on record. Yours faithfully, For Medi Assist Healthcare Services Limited Rashmi B V Company Secretary & Compliance Officer ICSI Membership No: A38729 Encl: As Above Medi Assist Healthcare Services Limited Investor Presentation Q2 and H1FY27 Powered by technology. Led by empathy. 2026 Copyright Medi Assist 1 Management Commentary – Q2 & H1FY27 “Medi Assist continues to advance India’s healthcare transition toward greater access, accountability, and affordability. Our core infrastructure—spanning digital interfaces, our network, claims engine, data analytics, and risk controls—supports customer and claims experiences across the ecosystem. This quarter, insurers partnered with us to build their in-house technology stacks, national institutions entrusted us with key government mandates, and Mayfair expanded our global footprint. With Paramount fully integrated, our scaled core platform generates robust cash flows to fund our next phase of growth internally. The Board-approved share buyback reflects our disciplined capital allocation, strong balance sheet, and confidence in our long-term earnings trajectory, while preserving the liquidity needed to invest in the substantial opportunities ahead. As we scale and invest for growth, we measure progress not only by our reach, but also by the reliability, transparency, and dignity of the service we provide to every stakeholder.” Satish Gidugu Chief Executive Officer and Whole Time Director 2026 Copyright Medi Assist 2 Summary of Financials Financial Highlights – H1FY27 (Consolidated) Reported PAT Total Income EBITDA Reported PAT Operating Revenue EBITDA Margin Margin ₹492.4 Cr ₹97.2 Cr ₹49.2 Cr ₹478.0 Cr 20.3% 10.0% +13.8% YoY +19.0% YoY +60.2% YoY +13.0% YoY +103 bps YoY +289 bps YoY WHAT DROVE Q2 AND H1, BY BUSINESS MODEL >90% of revenue, drove most of the margin expansion: Paramount is fully integrated, with 100% of its India TPA claims on MAtrix, and EBITDA grew 23.9% in Q2 and 19.0% in H1. The largest group franchise in India: We run it, in India 34.1% share, 4.75 Cr lives Platform & HBA Claims volume growth 917.9%; ₹9,648 Cr of premiums and first set of NPS Swasthya subscriptions ran You run it, on our technology on the platform in H1, reinforcing the hybrid delivery model for retail health benefits International Revenue uptick in H1 as we built the book ahead of it: new client wins in India, the UK and Thailand, We run it, worldwide 94% retention, and our platform live in three Southeast Asian markets 2026 Copyright Medi Assist 3 Key Messages Q2 & H1FY27: A Stronger, More Profitable Platform Our first like-for-like quarter since Paramount: integration complete, margins recovering, and the mix moving to higher-value platform and international revenue. MARGIN RATIONALISATION PLATFORM SCALING INTERNATIONAL BUILD-OUT A STABLE, CASH-RICH CORE Q2 20.4% Q2 +112.7% Q2 +7.7% Q2 +4.1% H1 20.3% H1 +83.7% H1 +1.1% H1 +13.7% EBITDA margin SaaS and licence revenue International revenue Group revenue growth growth growth Up 331 bps in Q2FY27 and 103 Claim-based fees grow with Focus on margin expansion Largest group health bps in H1FY27: profit is volume; ₹9,648 Cr of and portfolio expansion for administrator in India; Group premiums on the platform in H2FY27 with the platform portfolio from Paramount fully growing faster than revenue H1 going live in 3 SEA countries migrated as integration costs fall away A cleaner base, a scaling platform and a balance sheet with room to invest: built for the next phase. 2026 Copyright Medi Assist 4 Business Model Three Ways to Work With Us INDIA TPA PLATFORM & HBA INTERNATIONAL We run it, in India You run it, on our technology We run it, worldwide Our people and platforms administer Insurers/Payers license MAtrix, MAgnum, Mayfair We Care administers Group, Retail and Government benefits MAven or specific bundles to manage international medical and travel benefits end to end. service delivery with their own teams. outside India. Member and HR services Member and HR service Member and HR service Claims and medical review Claims and medical review Claims and medical review Technology platform Technology platform Technology platform Provider network Provider network Provider network Across India Payer’s teams, our stack Worldwide Delivered by Medi Assist Delivered by the client’s own teams 2026 Copyright Medi Assist 5 Business Model Revenue by Line of Business – Q2 and H1FY27 INDIA TPA PLATFORM & HBA INTERNATIONAL Q2FY27 H1FY27 Q2FY27 H1FY27 Q2FY27 H1FY27 ₹219.6 Cr ₹437.5 Cr ₹11.2 Cr ₹19.8 Cr ₹10.7 Cr ₹20.7 Cr +1.2% YoY +11.9% YoY +94.8% YoY +69.8% YoY +7.7% YoY +1.1% YoY 91.0% of revenue 91.5% of revenue 4.6% of revenue 4.2% of revenue 4.4% of revenue 4.3% of revenue PREMIUMS MANAGED (TPA) - PREMIUMS ON THE PLATFORM - GLOBAL COVERAGE H1FY27 H1FY27 Claims received from ₹15,104 Cr (+18.8% YoY) ₹9,648 Cr (+24.8% YoY) across 141 countries and 21k providers Consolidated Operating Revenue: Q2 ₹241.5 Cr (+3.9%) · H1 ₹478.0 Cr (+13.0%) Premiums on our infrastructure, H1: ₹ 24,752 Cr (TPA ₹15,104 Cr + platform ₹ 9,648 Cr), about a third of India’s health premium 2026 Copyright Medi Assist 6 Summary of Financials Financial Highlights - Q2FY27 (Consolidated) Performance Overview Total Income EBITDA Reported PAT ₹245.4 Cr ₹49.2 Cr ₹21.6 Cr +4.5% YoY +23.9% YoY +167.5% YoY Operating Revenue EBITDA Margin PAT Margin ₹241.5 Cr 20.4% 8.8% +3.9% YoY +331 bps YoY +536 bps YoY 2026 Copyright Medi Assist 7 Summary of Financials EBITDA Margin Walk We acquired revenue at a lower margin, and have recovered 330 bps of it in four quarters. EBITDA MARGIN (%), QUARTERLY THEN: Q1FY26 ₹190.6 Cr 22.1% ₹42.1 Cr 22.1 Pre-acquisition margin, a smaller business revenue EBITDA margin EBITDA 20.3 20.4 19.9 NOW: Q2FY27 ₹191 Cr revenue, ₹42 Cr EBITDA 18.6 95%+ of group PHS 100% of PHS claims ₹241.5 Cr 20.4% ₹49.2 Cr Business transferred; claims on MAtrix on MAtrix revenue EBITDA margin EBITDA claims migration 17.1 under way People costs down; Paramount added: AI tools live for H1FY26 - H1FY27 lower-margin revenue Paramount clients Margin Expansion Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 19.3% → 20.3% PRE-DEAL INTEGRATION: ONE-TIME, COMPLETED IN Q2FY27 +103 bps; EBITDA ₹81.7 Cr → ₹97.2 Cr (+19.0%) Q1FY26 is before Paramount Health Services was consolidated (1 July 2025). 2026 Copyright Medi Assist 8 Summary of Financials Key Financial Metrics and Balance Sheet Items - H1FY27 Cash and Cash Equivalents Net Worth Contract Liability ₹ 268.3 Cr ₹ 886.8 Cr ₹ 321.7 Cr (₹ 852.4 Cr | FY26) (₹ 280.2 Cr | FY26) (₹ 260.5 Cr | FY26) Revenue per Avg Debt Position Underlying PAT, H1** Headcount* ₹ 13.7 Lakhs Zero Debt ₹ 46.1 Cr Annualized (₹ 13.1 Lakhs | FY26) (Nil | FY26) (₹ 30.7 Cr | H1FY26) *Excluding Government Business Headcount **Underlying PAT excludes a derivative gain of ₹3.1 Cr on the call/put option, classified as exceptional 2026 Copyright Medi Assist 9 Business Segments Updates Government – H1FY27 Revenue, H1 Revenue Share, H1 Lives Covered Footprint ₹57.3 Cr 12.0% 30.81 Cr 14 States +14.0% YoY +10 bps YoY across 7.80 Cr families and 4 Union Territories Ayushman Bharat (AB-PMJAY) and Integrated State Health Schemes Police and Welfare Schemes State Schemes • Assam: AB-PMJAY & MMJAY • Tamil Nadu: CMCHIS • Maharashtra Police: Kutumb • Gujarat: AB-PMJAY & MA • Karnataka: Yeshasvini Arogya Yojana (MPKAY) • Maharashtra [Showing first 8,000 characters — download PDF for full document]