Astrana Health : Investor Presentation – May 2026
ASTH
Published on 05/12/2026 at 10:18 am EDT
May 2026
.4. Astrana Health
.4. Astrana Health
Capitation, net Risk Pool Settlements & Incentives Management Fee Income Fee-for-service, net Other Income
Medicare Medicaid Commercial Other Third Parties
Full-risk Partial-risk
Full-risk Partial-risk
O Growth
We've demonstmted our ability toprovidebeker care at lower cost in ow coremarliet, California
California
1992
2019
2022
2023 2024 2025 ••g38OB
CATAM
Opportunity
Launched in Southern CA
Built density in Southern CA
Expanded into Northern CA
Expanded into Deepened CA Central CA Alignment
Scaled CA Footprint
Partnered with Prospect Health (July 2025)
Los Angeles 9.7M pop.1
MCR Improvement: -(1,350) bps2
San Bernardino 2.2M pop.1
Riverside 2.5M pop.1
MCR Improvement: -(750) bps2
Bay Area 6.2M pop.1
MCR Improvement: -(950) bps3
Central Valley 6.1M pop.1
Acquired Restricted Knox-
Keene license
Prime Community Care of Central Valley and BASS Medical Group joined Care Partners
-2.6k providers added4
Expanded into OC & San Diego
.4. Astrana Health
Source: U.S. Census Bureau, population data as of 2022; CMS
County population data as of 2022.
Reflects the MCR improvement from 2019 to 2023. 15
Reflects MCR improvement from 2021 to 2023.
Represents Care Partners providers added between December 2023 and December 2024.
O Growth
We continue to deploy the Astmnaplaybooli in new marliets
Care Partners
2 -3 Years to Profitability
Entered in Q4 2022 Entered in Q3 2023
Grow a differentiated
Generate savings in
prudent value- i
based arrangements
coordinated
care t
management *
* i
"" |¿j
Invest in patient programs, preventive care and care management
Bend the
, Generate i opex
efficiencies i leveraging
Astrana's
Care
i Enablement
z?
platform
+ 800+ providers within Care 4 3,400+ providers within Care Partners Partners serving over 18,000
4 AstranaCare clinics and Astrana Medicare Advantage lives risk-bearing entities are run-rate 4 Continuing to make progress breakeven towards profitability
.4. Astrana Health 16
Risk Progression
Prudently tmnsitioning to full-risli contracts tobeoer aEgnincentives aroundpatient outcomes andimprove unit economics
Capitated Revenue by Risk Arrangement1
Members by Risk Arrangement2
65%
53OO
27% 24% 20% 19%
I I
jI
j
60% I
57%
Full-risk Partial-risk
" Projected
100%
35O/O
47%
73% 76% 80%
I I
81% !
40%
43% ,
22002211
22002222
22002233
22002244
22002255
QQ11 22002266 22002266EE3
QQ11 22002266 22002266 EE3
Our partial-risk membership presents an embedded opportunity for increased platform value and risk alignment.
We succeed in these contracts by continuing to drive positive patient outcomes.
1.
.4. Astrana Health 2.
3.
Revenue by risk arrangement represents capitation revenue only.
Members by risk arrangement represent Care Partners membership only. 18
2026 E based on April 2026 forecast.
Disclaimer
Astrana Health Inc. published this content on May 12, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 12, 2026 at 14:17 UTC.