Alignment Healthcare : J.P. Morgan 2023 Presentation

J P M o r g a n 2 0 2 3

Alignment Healthcare

A NEW ERA OF AGING

LEGAL DISCLAIMER

FORWARD LOOKING STATEMENTS

This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements include statements relating to future developments in our business or expectations for our future financial performance and any statement not involving a historical fact. Forward-looking statements use words such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "should," "seek," and other words and terms of similar meaning. Forward-looking statements are subject to risks and uncertainties and are based on assumptions that may prove to be inaccurate, which could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. Important risks and uncertainties that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our ability to attract new members and enter new markets, including the need for certain governmental approvals; our ability to maintain a high rating for our plans on the Five Star Quality Rating System; risks associated with being a government contractor; changes in laws and regulations applicable to our business model; changes in market or industry conditions and receptivity to our technology and services; results of litigation or a security incident; the impact of shortages of qualified personnel and related increases in our labor costs; and the impact of COVID-19 on our business and results of operation. For a detailed discussion of the risk factors that could affect our actual results, please refer to the risk factors identified in our SEC reports, including our Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on March 3, 2022 and subsequently filed Quarterly Reports on Form 10-Q. All information provided in this presentation and in the attachments is as of the date hereof, and we undertake no duty to update or revise this information unless required by law.

This presentation includes certain market and industry data and statistics, which are based on publicly available information, industry publications and surveys, reports from government agencies, reports by market research firms and our own estimates based on our management's knowledge of, and experience in, the industry and market in which we compete. Third-party industry publications and forecasts have been obtained from sources we generally believe to be reliable. In addition, certain information contained in this presentation represents management estimates. While we believe our internal estimates to be reasonable, they have not been verified by any independent sources. Such data involve risks and uncertainties and are subject to change.

This presentation contains certain "non-GAAP" financial measures within the meaning of Item 10 of Regulation S-K promulgated by the SEC. We believe that non-GAAP financial measures provide an additional way of viewing aspects of our operations that, when viewed with the GAAP results, provide a more complete understanding of our results of operations and the factors and trends affecting our business. These non-GAAP financial measures are also used by our management to evaluate financial results and to plan and forecast future periods. However, non-GAAP financial measures should be considered as a supplement to, and not as a substitute for, or superior to, the corresponding measures calculated in accordance with GAAP. Non-GAAP financial measures used by us may differ from the non-GAAP measures used by other companies, including our competitors. To supplement our consolidated financial statements presented on a GAAP basis, we disclose the following non-GAAP measures: Medical Benefits Ratio, Adjusted EBITDA and Adjusted Gross Profit, as these are performance measures that our management uses to assess our operating performance. Because these measures facilitate internal comparisons of our historical operating performance on a more consistent basis, we use these measures for business planning purposes and in evaluating acquisition opportunities. For a reconciliation of these non-GAAP measures to the corresponding measures calculated in accordance with GAAP, see the Appendix to this presentation.

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Alignment Healthcare, Inc. Confidential and Proprietary Information. Copyright Alignment Healthcare, Inc. 2023. Unauthorized Use Prohibited. All Rights Reserved.

Founded through Personal Experience

& Built through Lessons Learned

Personal Experience

• John's mother suffered a heart attack and was hospitalized
• He witnessed firsthand how difficult it was to navigate the health care system and its impact on patient health and recovery
• This led John to found Alignment with the goal of treating each member as if they were family
• Founding principles: put the senior first, support the doctor, use data and technology to improve senior life and do everything with a serving heart

Lesson Learned

FHP International	Vertical Integration, One
of the First MA Contracts
	Provider Partnerships,
	1 million MA Seniors
	Core Systems, Technology
	and Supply Chain Operations
	Chronic Care Management

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Alignment Healthcare, Inc. Confidential and Proprietary Information. Copyright Alignment Healthcare, Inc. 2023. Unauthorized Use Prohibited. All Rights Reserved.

Senior-Focused,

Direct-to-Consumer,

Value-Based Care

A NEW ERA OF AGING

Structurally Advantaged Payvider Model

Delivering Value Directly to the Consumer	1

• Build tailored products to support unique local health challenges
• Construct high quality provider networks to direct members towards the best care
• Concierge-levelsupport leads to a premium member experience

Product and Network Control

• Care Anywhere (CAW): Employed clinical teams 3 which act on AVA insights

• Engages proactively with our highest risk members to manage ongoing health challenges and reduce preventable medical events
• Agile. Meets seniors where it is most convenient; deployed at the home and virtually

Asset-Light Clinical Engagement: CAW

100% Ownership

and Retention of

Plan Economics

Data Proximity and Richness: AVA

MA Platform Enables Virtuous Cycle

vs ~85% or less for global cap models

• Alignment Virtual Application (AVA): Purpose- built technology platform
• Unobscured access to patient info and medical data grants highest degree of data richness and minimizes information latency
• Actionable insights enable timely medical

• Improved health outcomes through AVA insights and Care Anywhere clinical intervention

• Medical savings result from lower avoidable costs

• Reinvestment into superior Products using

intervention by our Care Anywhere teams

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funds derived from medical savings

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Alignment Healthcare, Inc. Confidential and Proprietary Information. Copyright Alignment Healthcare, Inc. 2023. Unauthorized Use Prohibited. All Rights Reserved.