Media Release: Half Year Results to 31 December 2021

MEDIA RELEASE - 21 FEBRUARY 2022

FINANCIAL RESULTS FOR THE HALF YEAR ENDED 31 DECEMBER 2021

1. Summary		Increase on
	A$M	H1 FY2022	H1 FY 2021
	Revenue	4,757	7%
	EBITDA	1,540	18%
	Net Profit	828	22%
	Cash generated from operations	1,041	28%
	Earnings per share (AUD cents)	170.8	21%

• Record financial performance driven by pandemic testing and base business growth.
• A$585 million invested in synergistic acquisitions/joint ventures in the period with active pipeline of further opportunities.
• Base business revenue (ex-COVID testing) up 4.3% versus H1 FY2021 and 2.5% versus H1 FY2020 (constant currency, organic growth).
• Gearing at record low level, ~A$1.4 billion of available liquidity, on-market share buy-back announced as part of active capital management.
• Progressive dividend policy maintained, increase of 4 cents (11%) to 40 cents (100% franked) for the FY2022 Interim Dividend.

2. Commentary

Sonic Healthcare today reported a record net profit for the half-year to 31 December 2021 of A$828 million, on revenues of A$4.8 billion.

Sonic's CEO, Dr Colin Goldschmidt, said: "Sonic Healthcare's 38,000 staff have produced outstanding operational and financial performances in the last six months through their unwavering commitment to the tenets of Sonic's Medical Leadership culture, promoting the provision of exceptional healthcare services. The COVID-19 pandemic continued to throw up new challenges on almost a daily basis, and our people responded magnificently. I sincerely thank all of our staff for their dedication and flexibility during these trying times.

"Sonic has continued to assist the communities in its markets in combatting the pandemic by providing high-volume,high-quality PCR testing, antibody testing, genetic sequencing and vaccination services. At the same time, we have never lost focus on the essential nature of our non-COVID base business, medical diagnostic services, and have continued to provide these services seamlessly for millions of patients throughout the pandemic.

"The company's organic revenue growth for the half-year was 7%, with base business organic growth of 4.3% augmented by growth in COVID related revenues. Revenue growth was particularly strong in our Australian Laboratory division. Sonic's EBITDA grew 18%, well above revenue growth, clearly demonstrating the operating leverage in our businesses.

"During the half-year Sonic invested A$585 million in acquisitions and joint ventures that will enhance the future growth of the company. The acquisition of Dallas-based ProPath has significantly strengthened Sonic's anatomical pathology operations and management in the USA, whilst the acquisition of Canberra Imaging Group has materially expanded the revenue, footprint and talent of Sonic's Radiology division.

SONIC HEALTHCARE LIMITED ABN 24 004 196 909 • LEVEL 22, GROSVENOR PLACE • 225 GEORGE STREET • SYDNEY • NSW 2000 • AUSTRALIA

LOCKED BAG 145 • NORTH RYDE • NSW 1670 • TELEPHONE[phone] • FACSIMILE [phone]

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"Our strategic investment into Harrison.ai and the establishment of a pathology AI joint venture is a very exciting step for Sonic. Harrison.ai is a leading global healthcare AI company and we believe that the combination of Sonic and Harrison.ai, through our joint venture, will be a powerful force in developing best-in-class AI diagnostic tools for pathology.

"Sonic's global management teams continue to focus on identifying and assessing synergistic acquisitions and outsource contracts. Sonic is well positioned to continue to invest in and expand the business with an active pipeline of opportunities under evaluation, backed by a very strong balance sheet.

"We have continued to progress our Sustainability/ESG initiatives over the last six months. One element of this that I am particularly proud to announce is that we are in the process of establishing the Sonic Healthcare Foundation as part of Sonic's ongoing commitment to the community. Sonic has already provided initial funding for the Foundation of A$40 million. The Foundation will be formally launched in coming months, after we have fully developed its mandate in conjunction with our global management teams. The mandate is expected to include both contributions to charitable projects and support for medical research projects."

Dr Colin Goldschmidt

Chief Executive Officer / Managing Director

Sonic Healthcare Limited

Ph.: [phone]

This announcement has been authorised by the Board of Directors of Sonic Healthcare Limited - please refer to the contact details above.

For further information regarding the result, please refer to Dr Goldschmidt's PowerPoint Presentation and to Sonic's Appendix 4D Half Year Report, both of which will be posted on the Sonic Healthcare website by 9.00am, 21 February 2022 (www.sonichealthcare.com).

Forward-looking statements

This media release may include forward-looking statements about our financial results, guidance and business prospects that may involve risks and uncertainties, many of which are outside the control of Sonic Healthcare. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date that they are made and which reflect management's current estimates, projections, expectations or beliefs and which involve risks and uncertainties that could cause actual results and outcomes to be materially different. Risks and uncertainties that may affect the future results of the company include, but are not limited to, adverse decisions by Governments and healthcare regulators, changes in the competitive environment and billing policies, lawsuits, loss of contracts, unexpected growth in costs and expenses and the progress of the COVID-19 pandemic. The statements being made in this media release do not constitute an offer to sell, or solicitation of an offer to buy, any securities of Sonic Healthcare. No representation, warranty or assurance (express or implied) is given or made in relation to any forward-looking statement by any person (including Sonic Healthcare). In particular, no representation, warranty or assurance (express or implied) is given in relation to any underlying assumption or that any forward-looking statement will be achieved. Actual future events may vary materially from the forward-looking statements and the assumptions on which the forward-looking statements are based. Given these uncertainties, readers are cautioned to not place undue reliance on such forward-looking statements.

SONIC HEALTHCARE LIMITED ABN 24 004 196 909 • LEVEL 22, GROSVENOR PLACE • 225 GEORGE STREET • SYDNEY • NSW 2000 • AUSTRALIA

LOCKED BAG 145 • NORTH RYDE • NSW 1670 • TELEPHONE[phone] • FACSIMILE [phone]