Aesthetic Medical International : AIH 1Q2020 Unaudited Earnings Presentation

Aesthetic Medical International

Holdings Group Limited

Nasdaq: AIH

1Q 2020 Unaudited Earnings Presentation

June 26, 2020

Disclaimer

The following presentation has been prepared by Aesthetic Medical International Holdings Group Limited ("AIH" or the "Company") solely for informational purposes and should not be construed to be, directly or indirectly, in whole or in part, an offer to buy or sell and/or an invitation and/or a recommendation and/or a solicitation of an offer to buy or sell any security or instrument or to participate in any investment or trading strategy, nor shall any part of it form the basis of, or be relied on in connection with, any contract or investment decision in relation to any securities or otherwise.

This presentation does not contain all relevant information relating to the Company or its securities, particularly with respect to the risks and special considerations involved with an investment in the securities of the Company. Nothing contained in this document shall be relied upon as a promise or representation as to the past or future performance of the Company. Past performance does not guarantee or predict future performance.

You acknowledge that any assessment of the Company that may be made by you will be independent of this document and that you will be solely responsible for your own assessment of the market and the market position of the Company and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the business of the Company.

This document contains certain statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1953, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to the Company's future financial or business performance, strategies or expectations. These statements typically contain words such as "expects" and "anticipates" and words of similar import. Any statement in this document that is not a statement of historical fact is a forward-looking statement and involves known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. There can be no assurance that the results and events contemplated by the forward-looking statements contained herein will in fact occur. None of the future projections, expectations, estimates or prospects in this document should be taken as forecasts or promises nor should they be taken as implying any indication, assurance or guarantee that the assumptions on which such future projections, expectations, estimates or prospects have been prepared are correct or exhaustive or, in the case of assumptions, fully stated in the document. The Company also cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time and which may be beyond the Company's control. The Company assumes no duty to and does not undertake to update any forward-looking statements to reflect actual results, changes in assumptions or changes in factors affecting these statements.

This document also contains non-IFRS financial measures, the presentation of which is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with accounting principles generally accepted in the United States of America. In addition, the Company's calculation of these non-IFRS financial measures may be different from the calculation used by other companies, and therefore comparability may be limited.

Unless otherwise indicated, this document speaks as of March 31, 2020. Neither the delivery of this document nor any further discussions of the Company with any of therecipients shall, under any circumstances, create any implication that there has been no change in the affairs of the Company since that date.

1Q 2020 Unaudited Financial Performance Overview

Revenue

Gross Profit & Gross Margin

(RMB mm)

(RMB mm)

200

150

100

50

0

140

1Q2019

120

80%

100

60%

80

40%

60

40

20

20%

0

1Q2020

Revenue

1Q2019

Gross Profit

1Q2020Gorss Margin

0%

Adj. EBITDA & Margin

Adj. Profit & Margin

(RMB mm)

Adj. EBITDA

-50.2%

Adj. EBITDA Margin

40%

30%

20%

10%

0%

-10%

-20%

-30%

-40%

-50%

-60%

Notes: The YoY growth rates and margins calculated assume no impact of FX rates and are based off RMB figures.

40

20%

20

0

-20

10%

0%

-10%

-20%

-30%

-40

-40%

-60

-50%

-80

-60%

-70%

Adj. ProfitAdj. Profit Margin

(1) We recognized net effect of RMB26 million expenses, including depreciation expense of RMB11.3 million for right-of-use asset, finance cost for lease liabilities of RMB3.1 million deducted by rental expenses of RMB12.2 million payable according to the contract, due to adoption of IFRS 16.

1Q 2020 Company Segment Performance

Segment Revenue Contribution TrendSegment Gross Margin

9.67% 39.91% 50.41%

3.85% 43.74% 52.42%

1Q2019

1Q2020

1Q2019

1Q2020

General healthcare services and other aesthetic medical servicesSurgical Aesthetic Medical ServicesNon-surgical Aesthetic Medical Services

Non-surgical Aesthetic Medical Services

Surgical Aesthetic Medical ServicesGeneral healthcare services and other aesthetic medical services