Aster DM Healthcare Limited

rs,

May 20, 2025 The Secretary, Listing Department, BSE Limited, 1st Floor, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai 400001. The Manager, Listing Department, The National Stock Exchange of Ind

16%

s and lower internation patien t footfall ▪ ▪ ▪ Karnataka & Maharashtra cluster revenue grew by 16% YoY and Op. EBITDA grew by 23% YoY in Q4 FY25 Andhra & Telangana cluster revenue grew by 11% YoY a

23%

t footfall ▪ ▪ ▪ Karnataka & Maharashtra cluster revenue grew by 16% YoY and Op. EBITDA grew by 23% YoY in Q4 FY25 Andhra & Telangana cluster revenue grew by 11% YoY and Op. EBITDA grew by 58% YoY i

11%

ew by 16% YoY and Op. EBITDA grew by 23% YoY in Q4 FY25 Andhra & Telangana cluster revenue grew by 11% YoY and Op. EBITDA grew by 58% YoY in Q4 FY25 Kerala cluster revenue declined by 4% YoY and Op EBI

58%

ew by 23% YoY in Q4 FY25 Andhra & Telangana cluster revenue grew by 11% YoY and Op. EBITDA grew by 58% YoY in Q4 FY25 Kerala cluster revenue declined by 4% YoY and Op EBITDA decreased by 1% YoY in Q4 F

4%

venue grew by 11% YoY and Op. EBITDA grew by 58% YoY in Q4 FY25 Kerala cluster revenue declined by 4% YoY and Op EBITDA decreased by 1% YoY in Q4 FY25 Overall operating EBITDA margin improved to 19.3%

1%

DA grew by 58% YoY in Q4 FY25 Kerala cluster revenue declined by 4% YoY and Op EBITDA decreased by 1% YoY in Q4 FY25 Overall operating EBITDA margin improved to 19.3% YoY largely driven by operational

19.3%

by 4% YoY and Op EBITDA decreased by 1% YoY in Q4 FY25 Overall operating EBITDA margin improved to 19.3% YoY largely driven by operational excellence and better leverage ▪ ▪ ▪ Kerala cluster operating

22.3%

n by operational excellence and better leverage ▪ ▪ ▪ Kerala cluster operating EBITDA margin at 22.3% in Q4 FY25, improved by 55+ bps YoY (21.8% in Q4 FY24) Karnataka & Maharashtra cluster operating E

21.8%

rage ▪ ▪ ▪ Kerala cluster operating EBITDA margin at 22.3% in Q4 FY25, improved by 55+ bps YoY (21.8% in Q4 FY24) Karnataka & Maharashtra cluster operating EBITDA margin at 21.8% in Q4 FY25, improved

20.5%

nataka & Maharashtra cluster operating EBITDA margin at 21.8% in Q4 FY25, improved by 130+ bps YoY (20.5% in Q4 FY24) Andhra & Telangana cluster operating EBITDA margin at 11.2% in Q4 FY25, improved by 33

11.2%

improved by 130+ bps YoY (20.5% in Q4 FY24) Andhra & Telangana cluster operating EBITDA margin at 11.2% in Q4 FY25, improved by 330+ bps YoY (7.9% in Q4 FY24) ARPOB grew by 13% YoY reaching to INR 47,80

“Operating EBITDA for the period FY25 excludes the ESOP Cost of Rs.”

“While the fixed component of the O&M fee is delineated into depreciation and finance costs as per Ind AS 116, whereas the variable component falls outside the scope of IndAS 116, leading to an incomplete reflection of the standard's impact in EBITDA.] PAT FY25 includes an amount of ₹ 108.3 Cr from the interest/gain earned on the investment of sale proceeds from the segregation of GCC vertical and excludes project unity transaction cost of Rs 50.1 Cr.”

“Operating EBITDA for the period Q4 FY25 excludes the ESOP Cost of Rs.”

“Q4FY25 PAT includes an amount of ₹ 23.2 Cr from the interest/gain earned on the investment of sale proceeds from the segregation of GCC vertical and excludes project unity transaction cost of Rs 26.4 Cr.”

“(5) O perating EBITDA for th e p eriod FY25 exclud es the ESOP Cost of Rs.”

“MLCP area Expected Timeline : H2 FY27 Civil works are near completion.”

“MEP work in progress on site and Interior and utility items in tender stage Floors : A block G+11 Floors and B block G+5 Floors, 3B common 2 Acre Land – Leased 3.23 lakhs sq.ft Built up Area Expected Timeline : H1 FY27 Floors : B+G+6 Floors 2.5 Acre Land – Leased 2.10 lakh sq.ft Built up Area Expected Timeline : H1 FY26 Architectural and MEP design in place.”

“All design and other pre-construction activities completed Aster Medcity 19 Multispecialty | Toal : 220+ Beds Bed Expansion : 75 Beds Ownership: Leased Expected Timeline : H2 FY26 Construction work is completed, Acquired the permissions and licenses to operate Aster Ramesh Ongole Aster CMI Aster Whitefield Multispecialty | Total : 850+ Beds Multispecialty | Total : 530+ Beds Bed Expansion : 350 Beds Ownership: Leased (O&M) Expected Timeline : H1 FY28 Currently in Architectural design phase.”

“Bed Expansion : 159 Beds Ownership : Leased Expected Timeline : H1 FY26 Civil and MEP works are near completion.”

“Material Cost % (Ex.Wholesale pharmacy) for Q4 FY25 is 21.2% and Q4 FY24 is 21.2% .”

Notes

7

Note

3

Highlights

3

Projects Current Status

1

Key Synergy Areas

1

Aster Medcity

1

Aster Medcity

1

Aster CMI

1

Advantages of IOeRT

1

Investor Relations

1

Notes

1. Revenue, Operating EBITDA and EBITDA excludes other income 2. Operating EBITDA for the period FY25 excludes the ESOP Cost of Rs. 8.4 Cr [FY24: 5.3 Cr], Movement in fair value of contingent consideration payable of Rs. 0.8 Cr [FY24: -4.4 Cr] , Variable O&M fee amounting to Rs.31.8 Cr [FY24 : 31.0 Cr]. [Our Operating & Management (O&M) agreements, encompasses both fixed and variable component. While the fixed component of the O&M fee is delineated into depreciation and finance costs as per Ind AS 116, whereas the variable component falls outside the scope of IndAS 116, leading to an incomplete reflection of the standard's impact in EBITDA.] PAT FY25 includes an amount of ₹ 108.3 Cr from the interest/gain earned on the investment of sale proceeds from the segregation of GCC vertical and excludes project unity transaction cost of Rs 50.1 Cr. PAT FY24 excludes a one-time impact due to recognition of Net Deferred Tax Liability to the tune of ₹52.4 cr 12 3. Page title 24 pt 22 77 146 Page

Notes

1. Revenue, Operating EBITDA and EBITDA excludes other income 2. Operating EBITDA for the period Q4 FY25 excludes the ESOP Cost of Rs. 0.7 Cr [Q4 FY24: 1.5 Cr], Movement in fair value of contingent consideration payable of Rs. -7.4 Cr [Q4 FY24 : -6.0 Cr] , Variable O&M fee amounting to Rs.7.6 Cr [Q4 FY24 : 9.8 Cr]. [Our Operating & Management (O&M) agreements, encompasses both fixed and variable component. While the fixed component of the O&M fee is delineated into depreciation and finance costs as per Ind AS 116, whereas the variable component falls outside the scope of IndAS 116, leading to an incomplete reflection of the standard's impact in EBITDA.] 3. Q4FY25 PAT includes an amount of ₹ 23.2 Cr from the interest/gain earned on the investment of sale proceeds from the segregation of GCC vertical and excludes project unity transaction cost of Rs 26.4 Cr. Q4 FY24 excludes a one-time impact due to recognition of Net Deferred Tax Liability to the tune of ₹52.4 cr 13 Page title 24 pt 22

Projects Current Status

*Aster Whitefield block D, Aster Ramesh On gole, A ster Kasargo d, Aster W& C Hyde rabad and Aster Ca pita l ar e in Construction ph ase ** Aster CMI, Aster Me dcity ( PMR block) a nd Aster Sar japur are in design phase. 16 16 Page title 24 pt 22 77 146 Page subtitle 20pt non bold 22 77 146 Heading Font color – 22 77 146 Line: 22 77 146 Excel color scheme A1: A2: A3: A4: A5: A6: A7: A8: 22 77 146 129 129 129 0 180 141 0 72 57 74 144 228 148 176 200 206 231 254 218 219 221 For client A1: 22 77 146 For CS A3: 0 180 141 Highlight in tables H1: 218 219 221 H2: 188 208 222 4th Multispecialty hospital in Bengaluru Aster DM Healthcare Sarjapur marks a step towards strengthening its leadership in Bengaluru with 2,000+ beds and a city-wide presence across major zones Bed Capacity • Toal Bed capacity : 430 beds • Phase 1 : 300 beds to be operational by H2 FY27 • Phase 2 : 130 beds to be added in FY29 Ownership • Lease agreement duration: 30 years (long-term) • Lock-in period for lessor: 30 years

Note

1. The da ta for hospitals includes numbers fo r clinics too. 2 . Op erating EBITDA for the pe riod FY 25 exclude s the ESOP Cost of Rs. 8.4 Cr [FY24: 5 .3 Cr], Movement in fair va lue of contingen t consider atio n p aya ble of Rs. 0.8 Cr [FY2 4: -4.4 Cr ] , Va riable O&M fee amounting to Rs.31 .8 Cr [FY24 : 3 1.0 Cr]. [Our Op erating & Manag ement (O &M) agr eements, encompasse s both fixed and variab le compon ent. While th e fixed co mp onent of the O&M fe e is delinea ted into depr eciation and finance costs a s per Ind AS 116, whe reas the variable compone nt falls ou tside the scope of IndAS 116 , leadin g to an incomplete reflection of the sta ndard's imp act in EBITDA. 22 Page title 24 pt 22 77 146 Page subtitle 20pt non bold 22 77 146 Heading Font color – 22 77 146 Line: 22 77 146 Excel color scheme A1: A2: A3: A4: A5: A6: A7: A8: 22 77 146 129 129 129 0 180 141 0 72 57 74 144 228 148 176 200 206 231 254 218 219 221 For client A1: 22 77 146 For CS A3: 0 180 141 Highlight in t

Key Synergy Areas

Procurement, F&B, MVT, Call Centre & CRM, AMC, IT platform centralization Note: All number s are indicative, based on consta nt curren cy and su bject to statuto ry aud it adjustments, if any. 32 Page title 24 pt 22 77 146 Page subtitle 20pt non bold 22 77 146 Heading Font color – 22 77 146 Line: 22 77 146 Excel color scheme A1: A2: A3: A4: A5: A6: A7: A8: 22 77 146 129 129 129 0 180 141 0 72 57 74 144 228 148 176 200 206 231 254 218 219 221 For client A1: 22 77 146 For CS A3: 0 180 141 Highlight in tables H1: 218 219 221 H2: 188 208 222 Combined Proforma Numbers for FY25 (Figures for FY25) Aster + QCIL = Merged Entity l a n o i t a r e p O s c i r t e M l a i c n a n F i s c i r t e M No. of Hospitals (Nos) City Presence (Nos) 191 15 192 14 38 27 Beds Capacity3 (Nos) 5,150+ 5,150+ 10,300+ Revenue (INR cr) EBITDA4 (Adj Post-IndAS) (INR cr) EBITDA % (Adj Post-IndAS) 4,138 806 19.5% 3,9675 8555 21.5% 8,105 1,661 20.5%

Notes

1. 2. 3. Includes WIMS Includes Nage rco il facility (Tamil Nadu) which was opera tion alize d in Se p’24 Refers to to tal capacity beds as of Mar 25 4. 5. Op erating EBITDA for Aster; Post INDAS EBITDA ad justed for one-time a nd non-cash e xpe nse s for QCIL QCIL numbers are indicative and subject to statutory audit a djustments, if a ny 33 Page title 24 pt 22 77 146 Page subtitle 20pt non bold 22 77 146 Heading Font color – 22 77 146 Line: 22 77 146 Excel color scheme A1: A2: A3: A4: A5: A6: A7: A8: 22 77 146 129 129 129 0 180 141 0 72 57 74 144 228 148 176 200 206 231 254 218 219 221 For client A1: 22 77 146 For CS A3: 0 180 141 Highlight in tables H1: 218 219 221 H2: 188 208 222 Proforma Performance Trend for Combined Entity Aster QCIL4 Merged Entity +12%5 8,105 7,314 Revenue (INR Cr) 2,983 3,699 3,200 3,615 +12% 4,138 +12%5 3,967 6,183 FY23 FY24 FY25 FY23P FY24P FY25P FY23P FY24P FY25P Margin 16.0% 16.8% 19.5% 21.3% 21.5% 21.5% 18.7% 19.1% 20.5% +20%5 1,661 Adj. Post IND- AS EBIT