BrightSpring Health Services Inc - Unit

Strong Q1 results and momentum across segments (good / key takeaways): - Total revenue: $3.6B, +26% YoY - Pharmacy Solutions revenue: $3.2B, +25% YoY - Provider Services revenue: $442M, +28% YoY - Adjusted EBITDA: $190M, +45% YoY; margin ~5.3% (+70 bps YoY) driven by mix + operational efficiencies - Cash flow from operations: $123M in the quarter (excluding cash flow impact from the Community Living divestiture) - Quality/operational execution: high star ratings/timeliness in Home Health; hospice quality metrics above national average; pharmacy dispensing accuracy ~99.99% and on-time delivery ~96%; infusion discharge completion therapy ~97%

Balance sheet de-risking from Community Living sale; leverage improving (good / notable): - Community Living sale completed March 30, 2026; proceeds ~$811M net cash before tax (gross consideration ~$835M) - Leverage: 2.27x as of March 31, 2026 (down from 2.99x at Dec 31, 2025) - Pro forma leverage: 2.40x after accounting for cash taxes to be paid in Q2 - Management stated they remain active in evaluating term loan/capital structure options given strong operating performance

2026 guidance updated/affirmed for “continuing operations,” with range-based forecasts (good / critical for investors): - Guidance excludes Community Living and any not-yet-closed acquisitions - Total revenue: $14.725B–$15.225B (implies ~14.1% to 17.9% growth vs 2025, excluding Community Living in both years) - Pharmacy Solutions revenue: $12.85B–$13.3B - Provider Services revenue: $1.875B–$1.925B - Adjusted EBITDA: $795M–$825M (implies ~28.7% to 33.6% growth vs 2025, excluding Community Living) - Amedisys/LHC acquisition contribution: ~$30M of EBITDA in year 1 - Management said they are on track to deliver the updated full-year guidance provided today