ALA Capital | HPF I — Live Financial Model

Revenue Assumptions

Year 0 Core Revenue ($M) 4.0

Organic Growth Rate (%) 10%

Annual Add-On Revenue ($M) 2.67

Clinical Trial Revenue Y5 ($M) 1.5

Margins & Costs

Year 0 EBITDA Margin (%) 23.5%

Annual Margin Improvement (bps) 100

CapEx % Revenue (%) 4%

D&A % Revenue (%) 3%

Tax Rate (%) 25%

Capital Structure

Entry Multiple (x EBITDA) 6.0x

Equity Investment ($M) 28.0

Debt / EBITDA 3.0x

Interest Rate (%) 10%

Debt Amortization (%/yr) 1%

Exit Assumptions

Exit Year 5

Exit Multiple (x EBITDA) 15.0x

Exit Costs (% of EV) 1%

Key Metrics

Y5 Revenue

$0.0M

Y5 EBITDA

$0.0M

Y5 EBITDA Margin

Exit Enterprise Value

$0.0M

Equity Value at Exit

$0.0M

MOIC
0.0x

Gross IRR
0%

Year-by-Year P&L

Year	Revenue	EBITDA	EBITDA %	Net Income	FCF to Equity

Returns Sensitivity (IRR %)

EBITDA Build (Y0 to Y5)