Option Care Health (OPCH) investor relations material

Business Performance and Financial Results

• Achieved 13% revenue growth, 6% adjusted EBITDA growth, and 10% adjusted EPS growth for 2025, serving over 315,000 unique patients and generating strong cash flow to support reinvestment.

• 2026 guidance projects 4% revenue growth, 5% adjusted EBITDA growth, and 7% adjusted EPS growth, with a $25M–$35M revenue headwind from Stelara and biosimilars, which now represent less than 1% of revenue and gross profit.

• Five-year CAGR (2020–2025) shows double-digit growth: 13% revenue and 16% EBITDA, demonstrating business resilience beyond single drug impacts.

• Diversified portfolio with no single therapy contributing more than 4% of gross profit, and 88% of revenue from commercial payers.

• Maintains a strong balance sheet with leverage below two times, robust liquidity, and expanded share repurchase authorization.

Strategic Initiatives and Market Positioning

• Continued investments in M&A, including seven acquisitions since 2021, and expansion of infusion clinics and pharmacies to strengthen national and local presence.

• Over 190 locations and 750 infusion chairs, with 96% U.S. population coverage through 800+ payer relationships and 1,400 contracts, supported by a network of 5,000 clinicians.

• Focused on expanding chronic therapy offerings, leveraging efficiency in infusion suites, and maintaining patient choice between home and clinic settings.

• Actively pursuing adjacent and accretive M&A opportunities in a fragmented market, targeting both small operators and health system divestitures.

• Strong partnerships with payers and pharma, emphasizing total cost of care and value-based outcomes.

Industry Trends and Regulatory Environment

• Benefiting from industry shift toward lower-cost care settings, with home and infusion suite care being 20–50% less expensive than hospital outpatient departments.

• Positive legislative momentum for site neutrality and expanded Medicare home infusion access, with active advocacy and industry engagement.

• Managed care organizations increasingly steering patients to lower-cost sites through benefit design and prior authorization.

• IRA and biosimilar pricing changes have limited impact on future revenue concentration, with most contracts commercially based and minimal exposure to MFN or WAC changes.

• Home infusion industry projected to grow at a high single-digit rate, driven by therapy expansion, cost pressures, and patient preference for home care.