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Disclaimers Forward-Looking Statements: This presentation (including
oral commentary that accompanies this presentation) has been prepared by Guardian Pharmacy Services, Inc. ("Guardian," the "Company," "we" or "us") and contains forward-looking statements.
Forward-looking statements are all statements other than those of historical fact. Any statements about our expectations, beliefs, plans, predictions, forecasts, objectives, assumptions, or future events or performance, are forward- looking. In some
cases, you can identify forward-looking statements through the use of words such as "believes," "expects," "may," "will," "should," "would," "seeks,"
"intends," "plans," "projects," "estimates," "contemplates," "aims," "continues," "anticipates" and similar expressions. Although we believe that the
expectations reflected in these forward-looking statements are reasonable, these statements are not guarantees of future performance and involve risks and uncertainties. Among the factors that could cause actual results to differ materially from
those suggested by forward-looking statements are: our ability to effectively execute our business strategies, implement new initiatives and improve efficiency; our ability to effectively market and sell, customer acceptance of, and competition for,
our pharmaceutical and health care services in new and existing markets; our relationships with pharmaceutical wholesalers and key manufacturers, long-term health care facilities ("LTCFs") and health plan payors; our ability to maintain
and expand relationships with LTCF operators on favorable terms; the impact of a national emergency, public health crisis, global pandemic or outbreak of infectious disease on our employees and business and on our supply chain and the LTCFs we
serve; continuing government and private efforts to lower pharmaceutical costs, including by limiting pharmacy reimbursements; changes in, and our ability to comply with, healthcare and other applicable laws, regulations or interpretations; further
consolidation of managed care organizations and other health plan payors and changes in the terms of our agreements with these parties; our ability to retain members of our senior management team, our local pharmacy management teams and our pharmacy
professionals; our exposure to, and the results of, claims, legal proceedings and governmental inquiries; our ability to maintain the security and integrity of our operating and information technology systems and infrastructure (e.g., against
cyber-attacks); product liability, product recall, personal injury or other health and safety issues related to the pharmaceuticals we dispense; the impact of supply chain and other manufacturing disruptions or trade policies related to the
pharmaceuticals we dispense; the sufficiency of our sources of liquidity and financial resources to fund our future operating expenses and capital expenditure requirements, and our ability to raise additional capital, if needed; the misuse or
off-label use, or errors in the dispensing or administration, of the pharmaceuticals we dispense; the volatility of our stock price; and such other risks that are described in our most recent Annual Report on Form 10-K, in any subsequent Quarterly
Report on Form 10-Q, and in our other public filings with the Securities and Exchange Commission ( SEC ). The forward-looking statements included in this presentation are made only as of the date hereof. Neither the Company nor its advisors
undertake any obligation to update any forward-looking statements for any reason after the date of this presentation to conform these statements to actual results or to changes in the Company's expectations, except as may be required by law.
Accordingly, the Company cautions you not to place any undue reliance on any forward-looking statements. Industry Data: This presentation also includes data, forecasts and information obtained from industry publications and other information
available to us. Some data is also based on our good faith estimates, which are derived from management's knowledge of the industry and independent sources. We have not independently verified any of the data from third- party sources, nor have
we ascertained the underlying assumptions relied upon therein. While we are not aware of any misstatements regarding the industry data presented herein, estimates and forecasts involve uncertainties and risks and are subject to change based on
various factors. Non-GAAP Financial Measures: The financial information in this presentation includes certain information that is not presented in accordance with U.S. Generally Accepted Accounting Principles ("GAAP"). Non-GAAP financial
measures may be considered in addition to GAAP financial information but should not be used as substitutes for the corresponding GAAP measures. The Non-GAAP measures in this presentation may be calculated in a way that is not comparable to similarly
titled measures reported by other companies. See the appendix to this presentation for a reconciliation of each non-GAAP measure to its most directly comparable GAAP financial measure. No Offer or Solicitation: This presentation shall not constitute
an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction. 2
David Morris Ashley Stockton Fred Burke EVP, CFO, Co-founder Head of
Investor Relations President, CEO, Co-founder Co-founded Guardian Pharmacy Services in Co-founded Guardian Pharmacy Services in Ashley joined Guardian Pharmacy Services in 2004 2004 2025 Previously co-founded Central
Pharmacy Previously CFO of Central Pharmacy Services, Ashley has thirty years of experience in equity Services, Inc. ("CPSI"). CPSI, a nuclear Inc., serving in a crucial role as the business markets; most recently, she
served as Head of pharmacy company, served over 1,000 quickly grew before being acquired by Cardinal Southeast Institutional Equity Sales for hospitals and clinics in 22 states (acquired by Health J.P. Morgan Cardinal Health) Earlier in her
career, Ashley was an equity Served as President of the PBM Division of Founded Sales Technologies, Inc. which research associate at J.P. Morgan and Bear, Complete Health and established and led its provided sales force automation
software Stearns & Co across several sectors subsidiary, Rx Management (acquired by Dun & Bradstreet) Served as an auditor for Ernst & Young Served as a consultant for McKinsey & Company and a brand manager for
A leader in a secular-growth market optimizing medication regimens &
adherence: 1 - Lowers cost of care and improves clinical outcomes 11 states 11 2 Multi-pronged growth strategy to expand market share and profitability: - Above-sector growth via organic expansion and disciplined M&A with > 40% Market Share
Durable competitive advantages from a service-led, tech-enabled model: 3 - Local service/national support delivers accuracy, reliability, and efficiency 4 Strong financial performance and cash flow: - Consistent growth and profitability, healthy
balance sheet 5 Experienced, co-founder-led management team with meaningful ownership: - Thought leaders, proven operators, and disciplined capital allocators A Differentiated LTC Pharmacy Services Company Transforming medication management for
Leading the Way in "ALF" Assisted Living
ALF & Memory Care Pharmacy Market ~$7 Billion Commercial Ancillary
11 states 11 6% 1% OTC Large Market Opportunity 6% 800,000+ Residents Medicaid 10% with > 40% Market Share Secular Growth (2) ~5% CAGR Med A 7% Highly Fragmented Market Med D 1,200+ Independent Pharmacies 70% (1) Guardian Revenue By Payor Focused
on Highly Attractive ALF Market (1) As of 12/31/2024. (2) ALF estimated market from 2023 to 2030. Sources: Access Market Intelligence, AHCA/NCAL, Grand View Research, IBIS World 6
ALF Resident Characteristics Age is rising - ~85 years old
~22 month stay (median) Financially capable, high acuity Key Reasons for Transitioning to ALF Help with Daily Activities Medication Management 12 - 14 prescriptions daily Frequent scrip and dose changes 62% Residents
have serious medical conditions 3-6 ADLs 58.0% Blood Pressure 75% 71% 44.0% 60% Dementia 57% 1-2 ADLs 26% 51% 33.0% 28% Heart Disease 0 ADLs 12% 16.0% Diabetes Numbers of ADLs Bathing Walking Dressing Transferring Toileting Eating Medication
Management - Top Driver for Entering an ALF Rising age and acuity require a healthcare-focused approach 7 Source: AHCA/NCAL.
ALF SNF Assisted Living Facility Skilled Nursing Facility Care
Coordinator Healthcare Professionals for Medicine Resident ability to choose Resident's choice Facility determines provider pharmacy provider Experienced staff members: on-site medical director, registered nurse Level of staff experience
- Typically, minimal clinical training for caregivers/staff (RN), licensed practical nurse (LPN) or certified nursing assistant (CNA) drug administration members required to administer drugs Reimbursement Medicare Part D Medicare Part A
Refills Reorder authorization required On Demand - RN reorder - no authorization needed Regulation Varies by state Federally regulated Access to a medical provider Physician relationships, with office visits Medical director that is
regularly on-site Built for the Unique Needs of ALF More than just a pharmacy - a care coordination partner 8
Other Players Independent Pharmacies Institutional Pharmacies
Built for SNF/adapted to ALF Local service/flexibility SNF based support & tech Lack profitability ALF market emphasis Centralized/corporate approach Quality varies ALF specific clinical
support Consistent brand ALF focused technology Strong financials Training Local service High Barriers to Entry Highly flexible Quick responses National relationship/capabilities
Large up front investment - tech, services, people (for national ALF partners) Long timeline to profitability Consistent brand/quality Scale required to achieve Strong financials to reinvest in
Reimbursement complexity quality, tech-enabled services Regulatory & license burden Leadership/talent build Strong Competitive Position/High Barriers to Entry 9
Unique and Scalable Model: Large # of Local Service Model + Residents
Served: Centralized Support (1) 195,000+ Guardian is (1) 52 pharmacies a Market Leader in Strong leaders, Long Tenure ALF (3,000+ employees) Strong Volumes/Scale: (2) ~28 mm scrips ALF Market Leader: (3) 13% market share High Adoption Rates: (1)
~90% (1) As of June 30, 2025. (2) Represents the annualized run rate prescriptions dispensed during the six months ended June 30, 2025. (3) Based on NIC Map data as of May 31, 2025. 10
(1) (2) Locations and Market Share 11 states 11 > 20% Market Share
37 pharmacies CA with > 40% Market Share 40% + Market Share with 20%- 40% Market Share 12 pharmacies CA States with Greater than 25% Market Share Locations with >20% market share Market Share Data Not Available All Other Locations ALF &
Memory Care Market Share - 13% Nationwide National reach, local impact 11 1) Locations as of 08/30/2025. 2) Market share for the pharmacies is based on NIC MAP data as of January 2025.
Scale drives profitability Reinvestments fuels GREATER SCALE
Profitability enables reinvestments The Virtuous Cycle of Scale Scale fuels profitability, profitability fuels scale 12
Pillars of Growth Organic + Acquisitions
Organic Growth Drivers LAUNCH INCREASE ADOPTION ADD NEW FACILITIES
GREENFIELD STARTUPS RATES Multiple Organic Growth Drivers 14
Facilities Served Partners 8000 Partners with best-in-class ALFs 7000
6000 5000 4000 3000 2000 1000 0 2018 2019 2020 2021 2022 2023 2024 Organic Growth - New Facility Additions Leverage existing infrastructure and local expertise 15
National Accounts Secure Corporate Approval National Sales Team
Regional & Independent Accounts "Opens the Door" Step 1 Why Guardian? Local Sales Team Gain "Preferred Status" at the Facility Level Comprehensive Services - 24/7 support, billing optimization, clinical
monitoring Step 2 Step 1 Reduced Staff Burden Improved Adherence Improved Outcomes Co-Market with Facility to Increase ADOPTION RATES Focus on capturing resident at entry Guardian Tactics: Facility Tactics:
"Family Nights" Endorse Guardian Brand Med part D optimization Sell new residents at entry on "preferred" Vaccine clinics use of Guardian GuardianShield data analytics Supports
"Family Night" educational seminars Step 3 Step 2 Organic Growth - Adoption Rates Partner, engage, convert - one community at a time 16
Growth seeded by existing residents in contiguous pharmacy market
Recent Greenfields (2020-2025) 2025 Seeded by SW Florida Naples 2024 Seeded by Cincinnati Columbus 2024 Seeded by Des Moines/Grand island Omaha 2024 Seeded by Tulsa/Eufaula Oklahoma City 2023 Seeded by Grand Rapids Eastern Michigan 2023 Seeded by
Wyethville Northern Virginia 2022 Seeded by St. Louis Kansas City 2021 Seeded by St. Cloud Minneapolis Organic Growth - Greenfield Start-Ups Expansion into adjacent and new underserved and growth markets 17
Guardian's Priority: A leader who can develop the local
team to manage growth An operator who seeks to tap into a broader network of knowledge and expertise to improve and grow the business A collaborative business partner and team player who exercises good judgment Geography: Typical
Target Size: Answer national ALF demand ~$10 - $30 mm revenue Fill white spaces in growth ~2,000 - 3,500 residents markets Target Pool: ~100 Acquisitions Measured and strategic approach to M&A 18
(1) (1) Combined Revenues Combined Residents $110,000,000 20,000
$90,000,000 10,000 $70,000,000 $50,000,000 0 Year 1 Year 2 Year 3 Year 4 Year 1 Year 2 Year 3 Year 4 The above charts demonstrate the growth in combined revenues and residents served at five pharmacies that were acquired since 2015, and which have
been operating as Guardian pharmacies for at least five years. These pharmacies represent typical acquisition target pharmacies, with up to 3,500 residents at the time of acquisition. (1) For illustrative purposes, the data is presented as if all
five acquisitions were completed on the same date and shows the Case Study - Sample Set of Acquisitions combined impact in years 1 through 4 of integration with Guardian. Strong revenue and resident trajectory 19
Year 1 Year 2-3 Year 4+ Launching collaborative Pouring concrete - the
foundation Integration integration process Key objectives: Key objectives: Execution Hiring and strengthening team Leadership development Supervisory skills development Culture project Optimization Key tasks: Key
tasks: Payroll and benefits Guardian purchasing model Payables and vendor management Margin management tools Profitability Implement Guardian financial Ramp up sales & marketing efforts +
statements access national accounts Efficiency initiatives (automation, reconfigure / move pharmacy, etc.) Growth Collections and RCM Core functions set foundation Profitability improves It all starts to come together for future
profitability Goal: Targeted Level of Accretion by Year 4 20
High single digit Pharmacies collectively organic growth operating @
~breakeven at targeted operating COVID-19 Pandemic margin 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Heartland Wichita, KS Eastern Grand Cincinnati, Minneapolis, Denver, CO Seattle, WA
Island, NE Michigan OH MN Boise, ID Naples, FL Kansas Idaho Falls, ID Northern Eugene, Oregon Salt Lake City, UT City, KS Virginia Freedom (NJ) Omaha, NE Oklahoma City,
OK Columbus, OH Greenfields Acquisitions Acquisition & Greenfield Impact Opportunity Multiple locations projected to achieve targeted accretion ahead 21
Recent Expansion in New Regions (1) ALF Communities (US) (by region) 9%
CA CA 23% 41% CA Recent Expansion in Core 28% Markets Recent Expansions (2025) Northeast Midwest South West 22
Competitive Advantage Differentiated Technology & Services
Data Analytics Enhances Performance Rev/scrip
Rev/patient Gross Margin Analysis Inventory management Reduces Costs Optimize purchasing Monitor labor costs Evaluate delivery route efficiencies Improved Track productivity Margin Profile Data
Analytics Reduces Costs, Improves our Margins Stronger operational and financial performance 24
Facilities & FINANCIAL CLINICAL Residents OPERATIONAL Client Impact
from Services & Technology 25
Clinical Intervention Proactive, pharmacist-led interventions to
prevent adverse drug events and reduce hospital readmissions Psychotropic Medication Reduction Oversight to prevent overuse, improve behavioral health, and audits Antibiotic Stewardship Tracks appropriate usage to reduce resistance, align with CMS