LHC : 39th Annual J.P. Morgan Healthcare Conference Presentation

39th Annual J.P. Morgan Healthcare Conference

January 2021

Forward-Looking Statements

Nasdaq: LHCG

Please visit the Investors section on our website at Investor.LHCgroup.comfor additional information on LHC Group and the industry.

This presentation contains "forward-looking statements" (as defined in the Securities Litigation Reform Act of 1995) regarding, among other things, future events or the future financial

performance of the Company. Words such as "anticipate," "expect," "project," "intend," "believe," "will," "estimate," "may," "could," "should," "outlook," and "guidance" and words and

terms of similar substance used in connection with any discussion of future plans, actions, events or results identify forward-looking statements.

Forward-looking statements are based on information currently available to the Company and involve estimates, expectations and projections. Investors are cautioned that all such forward- looking statements are subject to risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, including, but not limited to, the risks and uncertainties related to the COVID-19 pandemic and those otherwise described in our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Many of these risks, uncertainties and assumptions are beyond the Company's ability to control or predict. Because of these risks, uncertainties and assumptions, investors should not place undue reliance on these forward-looking statements.

Non-GAAP Financial Information

This presentation includes certain financial measures that were not prepared in accordance with U.S. generally accepted accounting principles ("GAAP"), including EBITDA and Adjusted EBITDA. The company uses these non-GAAP financial measures in operating its business because management believes they are less susceptible to variances in actual operating performance that can result from the excluded items. The company presents these financial measures to investors because they believe they are useful to investors in evaluating the primary factors that drive the company's operating performance. The items excluded from these non-GAAP measures are important in understanding LHC Group's financial performance, and any non-GAAP measures presented should not be considered in isolation of, or as an alternative to, GAAP financial measures. Since these non-GAAP financial measures are not measures determined in accordance with GAAP, have no standardized meaning prescribed by GAAP and are susceptible to varying calculations, these measures, as presented, may not be comparable to other similarly titled measures of other companies. EBITDA of LHC Group is defined as net income (loss) before income tax benefit (expense), interest expense, and depreciation and amortization expense. Adjusted EBITDA of LHC Group is defined as net income (loss) before income tax expense benefit (expense), depreciation and amortization expense, and transaction costs related to previous transactions.

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LHC Group Overview

			Home Health
			Hospice
			HCBS
			Home Health & Hospice
			Home Health & HCBS
			Home Health, Hospice, & HCBS	6.4%
	% of 2020 YTD Revenue	1.8%
			HH	9.7%
			Hospice
			11.9%
			HCBS
			Facility-based		70.2%

HCI

549	60%	111	122	12	29	823	400	35
home health	Of U.S.	hospice	home &	Long term	other service	total	leading	states and
locations	population	locations	community	acute care	locations	locations	hospital	District of
	aged 65+		based	hospitals			JV partners	Columbia
	included in		services	locations
	service area		locations

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Proven Growth Strategy Built for Future of In-Home Healthcare

Accelerated

Growth with

Multiple Levers

Leadership Having

Positive Impact on

Care & Value

Proposition

In Demand by

Patients, Partners &

Payors

Historic

Consolidation

Opportunity

Sequential organic growth fed by clinical quality, unique referrals leading to incremental market share gains complemented by co-location strategy

Continued momentum of growth from existing and potential JV partners and acquisitions fueled by strong balance sheet

Exceptional execution of PDGM care and operational models promoted swift, comprehensive approach to COVID-19 and real-time demonstration of value proposition to partners, payors and patients

ACO management, managed care initiatives and favorable regulatory environment for partnerships complement leadership in clinical quality

Home health in front of industry tailwinds with transition to value-based reimbursement and visibility on the reimbursement landscape

Preferred setting for lower cost-of-care and higher quality proven out through COVID-19 and ability to treat higher acuity patients

PDGM and elimination of RAP payments expected to result in closure of 30% of smaller competitors

Proven track record of leveraging national scale to capture organic market share and executing M&A strategy to accelerate inorganic growth

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