American Well : Amwell May 2024 Investor Presentation

Investor Presentation

May 2024

Forward Looking Statement

Forward-looking statements represent our beliefs and assumptions only as of the date of this release. These statements, and related risks, uncertainties, factors and assumptions, include, but are not limited to: our ability to regain and maintain compliance with NYSE listing standards; our ability effect any reverse stock split; our ability to successfully transition our clients to Converge without significant attrition; our ability to renew and upsell our client base; the election by the Defense Health Agency to deploy our solution across their entire enterprise; the continuation of the DHA relationship beyond July of 2025 with comparable financial terms; weak growth and increased volatility in the telehealth market; our ability to adapt to rapid technological changes; increased competition from existing and potential new participants in the healthcare industry; changes in healthcare laws, regulations or trends and our ability to operate in the heavily regulated healthcare industry; our ability to comply with federal and state privacy regulations; the significant liability that could result from a cybersecurity breach; and other factors described under 'Risk Factors' in our most recent form 10-K filed with the SEC. These risks are not exhaustive. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future. Further information on factors that could cause actual results to differ materially from the results anticipated by our forward-looking statements is included in the reports we have filed or will file with the Securities and Exchange Commission. These filings, when available, are available on the investor relations section of our website at investors.amwell.comand on the SEC's website at www.sec.gov.

Investment Highlights

Transformation:	$75+ Billion	Recurring
high margin SaaS
Services to
US TAM	revenue model
Software Platform

Large market share	Significant
Operating
with health plans
Leverage
and providers

1. Healthy Balance Sheet

• No Debt

3 |

Empowering digital transformation in healthcare

Software Services Carepoints

Our Future-Ready,Digital First, Hybrid Care Delivery Platform

4 |

Seeing results, delivering value

Improve financial

& clinical outcomes

Retain & optimize workforce

Ensure superior

patient experience

Powered by

Powered by

Powered by

5 |

Recent Momentum

Our software platform is validated in the market by strategic clients

Client Migrations: nearly 70% of visits on

Converge platform

Pivotal Contract Win: to Modernize the

Military Health System

Marquee customer go-lives:CVS,

Elevance, Highmark, Defense Health

Agency, others

6 | |

Our Purpose & Value

Digital first healthcare delivery is being prioritized

97%

97%	Health Plan Executives
	are interested in their own brand
Health System Executives	of clinical programs.
say it's important to have fully-integrated,
single telehealth platform.

8 |	Amwell (n = 100 health plan executives and n = 102 health system executives), September 2021.

Dramatic Rise in Expectations - Beyond Urgent Care

On-Demand (Urgent Care, Therapy)

Home Monitoring and Devices

EHR-ScheduledFollow-up Care

Hospital at Home and Palliative Care

Emergency Room Load Balancing

Exam Room Workflows

Virtual Primary Care

Consumer Front Doors

Unscheduled Follow-ups

9 |

Care Collaboration

Significant Challenges

to achieving digital first goals exist

Workforce shortages & burnout

are hospital CEO's #1 Concern

Regulations

add complexity

Fragmentation

of many nonintegrated point solutions and portals exist

Inefficient care

models are the status quo

Rapid innovation

creates complexities

Health equity

is a growing priority

10 |