INTERIM INTERIM RESUL RESULTS TS FOR FOR TH THE E SIX MO SIX - - PowerPoint PPT Presentation

INTERIM INTERIM RESUL RESULTS TS

FOR FOR TH THE E SIX MO SIX MONT NTHS HS EN ENDED DED 30 30 SE SEPT PTEM EMBER BER 2011 2011

SALIE SALIENT FEA NT FEATURES TURES

Interim Results | 30 September 2011 3

• Solid performance by all three operating platforms
• Headline earnings increased by 19%
• Headline earnings per share increased by 10%
• Interim dividend per ordinary share maintained at 23.0

cents

Mediclinic International Ltd

AGEND GENDA

Mediclinic International Ltd Interim Results | 30 September 2011 4

• Group financial results
• Southern Africa
• Switzerland
• United Arab Emirates
• Consolidated
• Regional overview
• Southern Africa
• Switzerland
• United Arab Emirates
• Group prospects
• Questions

GR GROUP OUP FIN FINANC ANCIAL IAL RESUL RESULTS TS

Interim Results | 30 September 2011 5

SOUT SOUTHERN HERN AFR AFRICA ICA

MED MEDIC ICLIN LINIC IC SO SOUTHERN THERN AF AFRI RICA CA

MEDIC MEDICLINIC LINIC SOUTHERN SOUTHERN A AFRICA FRICA FIN FINAN ANCIA CIAL L RESUL RESULTS TS

Mediclinic International Ltd Interim Results | 30 September 2011 7

• Half-year revenue up 11%
• EBITDA margin 0.3% down mainly due to:
• rental income now included in revenue
• straight-lining of a major lease renewal
• Southern Africa contributed R394m to Group attributable income
• Further financial detail on all platforms provided in Appendices

ZAR million HY2012 HY2011 % change Revenue 4,695 4,244 11% EBITDA 989 910 9% Depreciation 123 112 10% Net finance charges 166 174

• 5%

Tax 230 195 18% Non-controlling interests 76 73 4% Attributable income 394 356 11% EBITDA margin 21.1% 21.4%

MEDIC MEDICLINIC LINIC SOUTHERN SOUTHERN A AFRICA FRICA EBITD EBITDA A MAR MARGI GIN N CO COMP MPAR ARISON ISON

Mediclinic International Ltd Interim Results | 30 September 2011 8

EBITDA margin would have increased from 20.9% to 21.1% if prior year was adjusted ZAR million HY2012 HY2011 Revenue as reported 4,695 4,244 Rental income included in revenue

• 51

Adjusted revenue 4,695 4,295 EBITDA as reported 989 910 Straight-lining of lease

• -11

Adjusted EBITDA 989 899 EBITDA margin

• As reported

21.1% 21.4%

• Adjusted

21.1% 20.9%

MEDIC MEDICLINIC LINIC SOUTHERN SOUTHERN A AFRICA FRICA REVENU REVENUE

Mediclinic International Ltd Interim Results | 30 September 2011 9 3.0 3.4 3.8 4.2 4.7 6.1 6.8 7.7 8.6 0.0 2.0 4.0 6.0 8.0 10.0 2008 2009 2010 2011 2012 ZARbn

Revenue

Half year Full year

CAGR:12% CAGR:13% CAGR:12% CAGR:13%

Southern African revenue growth has remained consistent

MEDIC MEDICLINIC LINIC SOUTHERN SOUTHERN A AFRICA FRICA EBITD EBITDA

Mediclinic International Ltd Interim Results | 30 September 2011 10 0.6 0.7 0.8 0.9 1.0 1.3 1.5 1.7 1.8 0.0 0.5 1.0 1.5 2.0 2.5 2008 2009 2010 2011 2012 ZARm

EBITDA and Margin

Half year Full year

CAGR:12% CAGR:12% 21.3% 21.3% 21.3% 21.4% 21.4% 21.5% 21.5% 21.5% 21.3%

EBITDA margin remained fairly stable

SWIT SWITZERLAND ZERLAND

HIR IRSLA SLANDEN DEN

HI HIRSLAND RSLANDEN EN FIN FINAN ANCIA CIAL L RESUL RESULTS TS (CH (CHF) F)

Mediclinic International Ltd Interim Results | 30 September 2011 12

• Half-year revenue 8% higher
• EBITDA margin 0.7% lower due to:
• lower operating margin at newly acquired Klinik Stephanshorn
• challenging conditions in Western region (discussed in more detail

under regional review) CHF million HY2012 HY2011 % change Revenue 606 562 8% EBITDA 129 124 4% Depreciation 33 29 14% Net finance charges 73 74

• 1%

Tax 15 16

• 6%

Attributable income 8 5 60% EBITDA margin 21.4% 22.1%

HI HIRSLAND RSLANDEN EN FIN FINAN ANCIA CIAL RESUL RESULTS TS (ZAR (ZAR)

Mediclinic International Ltd Interim Results | 30 September 2011 13

• The Rand was weaker against the Swiss franc during the current period
• In ZAR terms, revenue increased by 28% to R5.0bn
• EBITDA increased by 19% to R1.1bn
• Hirslanden contributed R69m to Group attributable income

ZAR million HY2012 HY2011 % change Revenue 5,001 3,913 28% EBITDA 1,070 866 24% Depreciation 268 217 24% Net finance charges 605 558 8% Tax 128 92 39% Attributable income 69 36 91% Average exchange rate 8.25 6.96 Spot exchange rate 8.96 7.18

HI HIRSLAND RSLANDEN EN REVENU REVENUE

Mediclinic International Ltd Interim Results | 30 September 2011 14 469 517 540 562 606 1001 1091 1134 1218 500 1000 1500 2008 2009 2010 2011 2012 CHFm

Revenue

Half year Full year

CAGR:7% CAGR:7%

Hirslanden has shown a steady revenue growth over the past few years

HI HIRSLAND RSLANDEN EN EBITD EBITDA

Mediclinic International Ltd Interim Results | 30 September 2011 15 98 114 120 124 129 222 245 266 285 100 200 300 400 2008 2009 2010 2011 2012 CHFm

EBITDA and Margin

Half year Full year

CAGR:7% CAGR:9% 22.1% 21.4% 20.9% 21.9% 22.2% 22.2% 22.5% 23.4% 23.4%

EBITDA margin was fairly stable

UNITED UNITED AR ARAB AB EMIRA EMIRATES TES

EMIRA EMIRATES TES HE HEAL ALTH THCARE ARE

EMIRA EMIRATE TES HEAL S HEALTHCA THCARE RE FIN FINAN ANCIA CIAL L RESUL RESULTS TS (AED (AED)

Mediclinic International Ltd Interim Results | 30 September 2011 17

• Half-year revenue up 35%
• EBITDA margin 0.9% higher

AED million HY2012 HY2011 % change Revenue 406 301 35% EBITDA 63 45 40% Depreciation 24 18 33% Net finance charges 8 9

• 11%

Non-controlling interests 15 9 67% Attributable income 16 9 78% EBITDA margin 15.6% 14.7%

EMIRA EMIRATE TES HEAL S HEALTHCA THCARE RE FIN FINAN ANCIA CIAL L RESUL RESULTS TS (ZAR (ZAR)

Mediclinic International Ltd Interim Results | 30 September 2011 18

• The Rand was stronger against the UAE dirham over the current period
• In ZAR terms, revenue increased by 26% to R771m
• EBITDA increased by 33% to R120m
• Emirates Healthcare operations contributed R31m to Group attributable

income ZAR million HY2012 HY2011 % change Revenue 771 611 26% EBITDA 120 90 33% Depreciation 45 36 25% Net finance charges 14 18

• 22%

Non-controlling interests 30 18 67% Attributable income 31 18 72% Average exchange rate 1.90 2.03 Spot exchange rate 2.20 1.90

EMIRA EMIRATE TES HEAL S HEALTHCA THCARE RE REVENU REVENUE

Mediclinic International Ltd Interim Results | 30 September 2011 19 118 147 237 301 406 249 341 529 681 250 500 750 2008 2009 2010 2011 2012 AEDm

Revenue

Half year Full year

CAGR:36% CAGR:40%

Emirates Healthcare has shown exceptional revenue growth due to recent acquisitions and expansions

EMIRA EMIRATE TES HEAL S HEALTHCA THCARE RE EBITD EBITDA

Mediclinic International Ltd Interim Results | 30 September 2011 20 12 14 45 63 26

• 3

62 122

• 20

30 80 130 180 2008 2009 2010 2011 2012 AEDm

EBITDA and Margin

Half year Full year

CAGR:51% CAGR:67% 11.8% 14.7% 10.0% 5.7% 10.4%

• 0.9%

18.0% 15.6%

EBITDA margin is gradually increasing

CONSOLID CONSOLIDATED TED FIN FINANCIAL ANCIAL RESUL RESULTS TS

Interim Results | 30 September 2011 21

MEDIC MEDICLINIC LINIC GR GROU OUP SUMMA SUMMARISED RISED RESUL RESULTS TS (ZAR (ZAR)

Mediclinic International Ltd Interim Results | 30 September 2011 22

• Revenue increased by 19% for the period under review
• Headline earnings rose by 19%
• The lower HEPS growth is due to the increased weighted average number
• f shares in issue which resulted from last year’s rights offer

ZAR million HY2012 HY2011 % change Revenue 10,467 8,768 19% EBITDA 2,179 1,866 17% Net finance charges 766 709 8% Headline earnings 484 407 19% Headline earnings per share (cents) 77.2 70.2 10%

Weighted ave. no. of shares in issue (m)

627 580 8% EBITDA margin 20.8% 21.3%

MEDIC MEDICLINIC LINIC GR GROU OUP P FIN FINAN ANCIA CIAL L POSIT POSITIO ION N (ZAR (ZAR)

Mediclinic International Ltd Interim Results | 30 September 2011 23

• Debt increased mainly due to the weaker closing ZAR/CHF rate from

R7.42 to R8.96

• Foreign debt is matched to Swiss and Middle Eastern assets in currencies

applicable to the respective platforms ZAR million

30 Sep 11 31 Mar 11 % change

Total interest-bearing debt 26,093 22,248 17% Total assets 50,962 43,537 17% Total equity 11,572 10,560 10% Total cash and investments 3,388 3,016 12%

Cash and cash equivalents

1,635 1,567 4%

Money market funds and investment grade bonds

1,753 1,449 21%

REVENU REVENUE E AN ANAL ALYSIS SIS

Mediclinic International Ltd Interim Results | 30 September 2011 24

4,695 45% 5,001 48% 771 7%

Revenue HY2012 (Rm)

Total: R10.5 billion 4,244 48% 3,913 45% 611 7%

Revenue HY2011 (Rm)

Southern Africa Switzerland UAE Total: R8.8 billion

REVENU REVENUE E GR GROWTH WTH CO CONST NSTAN ANT T RA RATE TES

Mediclinic International Ltd Interim Results | 30 September 2011 25 4,244 4,244 4,695 3,913 4,637 5,001 611 572 771

• 2,000

4,000 6,000 8,000 10,000 12,000 HY2011 HY2011 (HY2012 rate) HY2012 R millions Southern Africa Switzerland UAE Total: 8.8bn Total: 9.5bn Total: 10.5bn

8% rate difference 11% actual growth 19% total growth

EBITD EBITDA A AN ANAL ALYSIS SIS

Mediclinic International Ltd Interim Results | 30 September 2011 26

989 45% 1,070 49% 120 6%

EBITDA HY2012 (Rm)

Total: R2.2 billion 910 49% 866 46% 90 5%

EBITDA HY2011 (Rm)

Southern Africa Switzerland UAE Total: R1.9 billion

EBITD EBITDA A GR GROWTH WTH CO CONST NSTAN ANT T RA RATE TES

Mediclinic International Ltd Interim Results | 30 September 2011 27 910 910 989 866 1,027 1,070 90 86 120

• 1,000

2,000 3,000 HY2011 HY2011 (HY2012 rate) HY2012 R millions Southern Africa Switzerland UAE Total: 1.9bn Total: 2.0bn Total: 2.2bn

8% rate difference 8% actual growth 17% total growth

DEBT DEBT AN AND D FIN FINAN ANCE COST CE COST

Mediclinic International Ltd Interim Results | 30 September 2011 28

3,744 14% 21,837 84% 512 2%

Debt at 30 Sep 2011 (Rm)

Total: R26.1 billion 186 23% 610 75% 14 2%

Finance Cost HY2012 (Rm)

Southern Africa Switzerland UAE Total: R0.8 billion

HEADLINE HEADLINE EARNINGS EARNINGS CONTRIB CONTRIBUTI UTION ON

Mediclinic International Ltd Interim Results | 30 September 2011 29 394 81% 69 14% 31 7%

• 10
• 2%

Headline Earnings HY2012 (Rm)

Southern Africa Switzerland UAE Corporate Total: R484 million 353 87% 36 9% 18 4%

Headline Earnings HY2011 (Rm)

Total: R407 million

HEAD HEADLINE LINE EARN EARNIN INGS GS

Mediclinic International Ltd Interim Results | 30 September 2011 30 70.2 77.2 6.6 5.7 2.2 (1.7) (5.8) 0.0 25.0 50.0 75.0 100.0 HY2011 MCSA contribution Hirslanden contribution EHHL contribution Corporate Rights

• ffer

HY2012

HEPS Bridge: HY2011 - HY2012

Description HY2012 HY2011 % change Headline earnings (R million) 484 407 19%

Weighted ave. no. of shares in issue (m)

627 580 8% Headline earnings per share (cents) 77.2 70.2 10%

GR GROWTH WTH SINCE Y SINCE YEAR EAR-END END

Mediclinic International Ltd Interim Results | 30 September 2011 31

Capacity grew by 26 beds over the past six months

Mediclinic Paarl Klinik Beau-Site Mediclinic Stellenbosch

Southern Africa Hirslanden Emirates Healthcare Total Capacity at 31 March 2011 7,103 1,457 336 8,896 Stellenbosch 10 10 Paarl 2 2 Klinik Beau-Site 14 14 Capacity at 30 September 2011 7,115 1,471 336 8,922

CU CURR RRENT ENT DEBT STR DEBT STRUC UCTURE TURE

Mediclinic International Ltd Interim Results | 30 September 2011 32

Local Currency (millions) ZAR (millions) Propco Debt 2,770 2,770 Dec 2011 (50%) - Dec 2013 (50%) (a) 11.0% - 11.1% (1) Opco Debt 510 510 Mar 2015 (a) 9.3% - 11.4% Capex Facility 146 146 Apr 2014 (b) JIBAR + 1.4% Other (3) 245 245 2011 - 2023

• Overdraft

73 73

• Total Mediclinic SA

ZAR 3,744 3,744 Barcap Facility (3) 2,433 21,800 Oct 2014 (c) 5.62% (1) Secured Bank Loans 4 37 2013 - 2016 1.9% - 2.7% Intergroup Loan (4) 21 188 2015 2.5% Total Hirslanden CHF 2,458 22,025 Secured Bank Loans 233 512 2015 - 2020 (b) Variable (2) Total Emirates Healthcare AED 233 512 Elimination of intergroup debt

• 188

TOTAL DEBT 26,093

Note: Majority of the Mediclinic Southern Africa loans are held by Standard Bank. EHHL loans are held by UNB and Standard Chartered.

(a) Bullet loan. (1) Effective interest rate taking swaps into account. (b) Amortizing loan. (2) Linked to EIBOR. (c) c.98% bullet payment in October 2014. (3) Includes Capitalised Financing Expenses. (4) Between Hirslanden and Treasury

HIRSLANDEN EMIRATES HEALTHCARE 30 September 2011 Maturity Effective Interest Asset MEDICLINIC SOUTHERN AFRICA

• An efficient capital structure is important to Mediclinic
• Property backed businesses able to sustain higher levels of debt
• Swiss and UAE debt is matched to assets in the same currency
• Swiss and UAE debt is without recourse to Southern African
• perations
• Strong financial position
• R1.4bn rights issue completed in August 2010, to finance Swiss

growth opportunities

• Unused overdraft facilities of R760m, provides sufficient

headroom

• South African facility of R1.4bn which was due in December 2011

has been successfully renewed for one year

• Long term financing in place with a spread of facility maturities

ST STRONG ONG FIN FINANC ANCIAL IAL POS POSITION ITION AN AND D EF EFFICIENT FICIENT CA CAPIT PITAL S AL STR TRUC UCTURE TURE

Mediclinic International Ltd Interim Results | 30 September 2011 33

• R21.8bn Swiss facility committed until October 2014, fixed at an

attractive interest rate and secured against assets of R30.5bn (CHF3.4bn)

• An independent valuation was carried out recently and the

valuation for Swiss properties has been confirmed at CHF3.4bn (versus CHF3.3bn in the last valuation)

• The Group continuously reviews and assesses its capital

structure

• Range of options available to refinance facilities
• Confident about refinancing the Hirslanden acquisition debt
• Plan in place to take steps in a prudent fashion
• Confidential ratings were obtained from S&P and Moody’s earlier

this year

• A number of discussions regarding options are underway
• Current volatile market conditions have been taken into

consideration for the timing on potential refinancing

ST STRONG ONG FIN FINANC ANCIAL IAL POS POSITION ITION AN AND D EF EFFICIENT FICIENT CA CAPIT PITAL S AL STR TRUC UCTURE TURE

Mediclinic International Ltd Interim Results | 30 September 2011 34

CA CASH SH CO CONV NVERSION ERSION

Mediclinic International Ltd Interim Results | 30 September 2011 35

• The Group converted 88% of EBITDA into cash generated

from operations, mainly affected by:

• Non cash flow IAS19 pension fund adjustment at Hirslanden

(R53m) (CHF6.4m)

• Decrease in Swiss payables (R104m) (CHF12m) in respect of

major building projects

REGION REGIONAL AL OVER VERVIEW VIEW

SOUT SOUTHERN HERN AFR AFRICA ICA MEDICLINIC MEDICLINIC SOUT SOUTHERN A HERN AFRICA FRICA

Mediclinic International Ltd Interim Results | 30 September 2011 38

ES ESTABLISHE ABLISHED D LE LEADER ADER IN IN QU QUALITY CAR ALITY CARE

* includes FTEs filled through staff agencies

At 30 September 2011 Hospitals 52 Beds 7 115 Admitting specialists 2 200 Employees (FTEs)* 16 200

INTE INTERIM RES RIM RESUL ULTS TS CO COMMENT MMENTAR ARY

• 11% revenue growth driven by:
• 3.2% increase in bed-days sold
• 5.5% increase in average income per bed-day
• 2.3% increase in other revenue
• Strong cash flow: 96% of EBITDA converted into cash

generated from operations

Mediclinic International Ltd 39 Interim Results | 30 September 2011

• Green Paper published 12 August 2011 (comments by 31

December)

• Must be read in conjunction with other documents:
• National Health Amendment Bill – creation of a quality

regulator

• Discussion Document on PHC re-engineering (November

2010)

• Draft HR strategy document (August 2011)
• Mediclinic and HASA submissions

NHI NHI UPD UPDATE TE GR GREE EEN P N PAPER APER

Mediclinic International Ltd 40 Interim Results | 30 September 2011

NHI NHI UPD UPDATE TE CER CERTAIN AINTIE TIES S AN AND D UN UNCER CERTAIN AINTIE TIES

Reasonable clarity

• 1. Primary health

care re-engineering

• 2. Quality

regulator

• 3. Insurance

model

• 4. Purchaser/

provider split

Lack of clarity

• 1. Cost

implications

• 2. Source of

financing

• 3. Human

resources

• 4. Benefit

package

• 5. Role of medical

schemes

• 6. Governance and

accountability

• 7. Provider payment

and price determination

• 8. Freedom of

choice

Mediclinic International Ltd 41 Interim Results | 30 September 2011

NHI NHI UPD UPDATE TE – GREE GREEN P N PAPE APER POSIT POSITIVES IVES AN AND D CO CONC NCERNS ERNS Positives

• Pragmatic
• Phased implementation plan
• Iterative with pilots
• Focus on primary care
• Acknowledgement of quality issues in the public sector
• Acknowledgement on HR shortage

Concerns

• Lack of clarity on important key aspects
• Lack of alignment between implementation plans and HR

Strategy Plan

Mediclinic International Ltd 42 Interim Results | 30 September 2011

3.6% 8.3% 2.0% 3.1% 2.6% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 2006 2007 2008 2009 2010

GEMS

MEDICAL MEDICAL SCHE SCHEME ME MARK MARKET ET CO CONSIST NSISTENT ENT GR GROWTH WTH IN IN BE BENEFICIA NEFICIARIES RIES

Average annual growth of 3.8% over the 5 year period

Source of data: CMS Annual Reports

Mediclinic International Ltd 43 Interim Results | 30 September 2011

11.2% 11.9% 12.2% 12.4% 12.4% 12.9% 13.0% 20.7% 26.1% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% Free State Western Cape Gauteng Mpumalanga Eastern Cape Northern Cape KwaZulu Natal North West Limpopo

% Increase in beneficiaries 2006 - 2009

379,930 1,294,986 2,909,955 553,501 690,619 168,711 1,233,940 440,911 379,429 Total = 8.1m

MEDICAL MEDICAL SCHE SCHEME ME MARK MARKET ET GR GROWTH WTH IN IN BE BENEFICIA NEFICIARIES B RIES BY Y PR PROVIN VINCE CE

Mediclinic International Ltd 44 Interim Results | 30 September 2011

Source of data: CMS

MEDICAL MEDICAL SCHE SCHEME ME MARK MARKET ET SIGN SIGNIFICA IFICANT NT IN INCR CREASE EASE I IN RES N RESER ERVES VES

Mediclinic International Ltd 45 Interim Results | 30 September 2011 5.3 7.1 9.6 13.8 18.7 20.9 21.8 24.1 27.0 27.9 30.9

• 5.0

10.0 15.0 20.0 25.0 30.0 35.0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Accumulated Reserves in Billions

Source of data: CMS Annual Reports

2010 Excess Reserves Using Risk Based Capital Approach: R15.2bn

20.2% 22.9% 29.3% 37.3% 39.1% 37.9% 38.0% 36.6 32.9% 31.6% 20.4%

Solvency Ratio

MEDICAL MEDICAL SCHE SCHEME ME MARK MARKET ET CO CONSOLID NSOLIDATION TION – A H

HIST ISTOR ORIC ICAL L L LON ONG G TERM M TREND ND

Source: Prof. McLeod, IMSA Policy Brief 8

Mediclinic International Ltd 46 Interim Results | 30 September 2011

MEDICAL MEDICAL SCHE SCHEME ME MARK MARKET ET CO CONSOLID NSOLIDATION TION – A N

NECESSARY TREND ND

Size of Risk Pools 2008

Sources: Prof. McLeod, IMSA Policy Brief 8; Managed Healthcare Business Models for Hospital Organisations, Millman and Robertson

Mediclinic International Ltd 47 Interim Results | 30 September 2011

MEDICAL MEDICAL SCHE SCHEME ME MARK MARKET ET CO CONSOLID NSOLIDATION TION – IN

INCREASE IN IN C CON ONCENTRA NTRATIO ION

Source of data: CMS Annual Reports and HASA

Mediclinic International Ltd 48 Interim Results | 30 September 2011

2,181 1,800 1,635

• 500

1,000 1,500 2,000 2,500 2003 2004 2005 2006 2007 2008 2009 2010 H H I Private Hospital Concentration Administrator Concentration Concentrated Market Administrator Concentration with GEMS separate

2,139

CAP CAPACITY CITY GR GROWT WTH

Mediclinic International Ltd 49 Interim Results | 30 September 2011 10 20 30 40 50 60 1000 2000 3000 4000 5000 6000 7000 8000 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 H2012 Hospitals Beds Beds Hospitals Development phase Acquisition phase

OPE OPERA RATION TIONAL AL PE PERFORMAN RFORMANCE CE

Mediclinic International Ltd 50 Interim Results | 30 September 2011

BED BED OCC OCCUP UPANC ANCY Y AN AND D DEVEL DEVELOPMENT OPMENT

Mediclinic International Ltd 51 Interim Results | 30 September 2011

• Licensed beds increased from 7103 at 30 March 2011 to 7115
• Bed occupancy level calculated on operational beds
• Additional capacity (difference between licensed and operational beds) is

for projects and expansions at hospitals

• Average additional capacity is 8% of licensed beds

67.2% 69.2% 69.4% 69.3% 70.3%

60.0% 65.0% 70.0% 75.0% 80.0%

• 3,000

6,000 9,000 HY2008 HY2009 HY2010 HY2011 HY2012 Bed occupancy rate Number of beds Operational beds Additional capacity Bed occupancy rate CAGR = 0.9% (HY2008 - HY2012) 6,872 6,808 6,859 7,051 7,115

Mediclinic Stellenbosch

• 10 additional beds

Mediclinic Paarl

• 2 beds and 1 theatre

Mediclinic Cape Town

• New consulting block

BUILDING UILDING PR PROJE OJECTS CTS CO COMPL MPLET ETED ED

Mediclinic Paarl Mediclinic Cape Town Mediclinic International Ltd 52 Interim Results | 30 September 2011

BUILDING UILDING PR PROJE OJECTS CTS IN IN PR PROG OGRESS RESS – COMPL

OMPLETE IN IN N NEXT 6 6 MON MONTHS HS

Mediclinic Kloof Mediclinic International Ltd 53 Interim Results | 30 September 2011

Hospital Additional beds Mediclinic Kimberley (additional beds) 8 Mediclinic Kloof (additional beds) 32 Mediclinic Welkom (additional beds and upgrade) 36 Mediclinic Legae (additional beds and upgrade) 4 Mediclinic Potchefstroom (additional beds) 13 Mediclinic Highveld (additional beds) 27 Mediclinic Otjiwarongo (additional beds) 2 Total 122

BUILDING UILDING PR PROJE OJECTS CTS IN IN PR PROG OGRESS RESS – COMPL

OMPLETE DUR URIN ING G 20 2013 13

Mediclinic Limpopo Mediclinic Nelspruit Mediclinic International Ltd 54 Interim Results | 30 September 2011

Hospital Additional beds Mediclinic Nelspruit (additional beds) 66 Mediclinic Limpopo (additional beds and upgrade) 60 Mediclinic Cottage (additional beds and upgrade) 14 Mediclinic Hoogland (consulting block and upgrade)

• Mediclinic Louis Leipoldt (upgrade)
• Total

140

BUILDING UILDING PR PROJE OJECTS CTS IN IN PR PROG OGRESS RESS – COMPL

OMPLETE DUR URIN ING G 20 2013 13

Mediclinic Limpopo Mediclinic International Ltd 55 Interim Results | 30 September 2011

BUILDING UILDING PR PROJE OJECTS CTS IN IN PR PROG OGRESS RESS – COMPL

OMPLETE DUR URIN ING G 20 2013 13

Mediclinic Louis Leipoldt Mediclinic International Ltd 56 Interim Results | 30 September 2011

BUILDING UILDING PR PROJE OJECTS CTS IN IN PR PROG OGRESS RESS – COMPL

OMPLETE DUR URIN ING G 20 2014 14

Mediclinic International Ltd 57 Interim Results | 30 September 2011 Mediclinic Pietermaritzburg

Hospital Additional beds Mediclinic Pietermaritzburg (cardiology unit, additional beds, consulting rooms and upgrade) 80 Mediclinic Windhoek (additional beds and consulting rooms) 26 Total 106

BUILDING UILDING PR PROJE OJECTS CTS APPR APPROVED VED

Mediclinic International Ltd 58 Interim Results | 30 September 2011 Centurion Private Hospital

Hospital Additional beds Centurion Private Hospital (new development) 174 Mediclinic Stellenbosch (upgrade)

• Mediclinic Milnerton (additional beds)

10 Total 184

SWIT SWITZERLAND ZERLAND HIRSLANDEN HIRSLANDEN

Mediclinic International Ltd Interim Results | 30 September 2011 60

HIRSLANDEN HIRSLANDEN TOD ODAY

At 30 September 2011 Hospitals 14 Beds 1 471 Admitting specialists 1 350 Employed specialists 210 Employees 5 700

HIRSLANDEN HIRSLANDEN ACH CHIEVEMENTS IEVEMENTS

• Continuous growth: Steady development in all dimensions
• Increase of inpatients by 6.4% to 37 800
• Increase of midnight census days by 4.6% to 184 000
• Increase of average income per bed day by 2.1%
• Strengthened Leadership: New EXCO structure
• Growing together: Realising convergence and synergies
• Continuous investments: Expanding our capacities and

capabilities

Mediclinic International Ltd 61 Interim Results | 30 September 2011

Interim Results | 30 September 2011 62

UND UNDERP ERPERF ERFORMA ORMANCE NCE WES WESTE TERN RN REGI REGION ON

• Illness of 3 major doctors - back in second six months
• Difficulty in recruiting new doctors due to list uncertainties –

now resolved

• Pre-opening expenses at Klinik Beau Site due to expansion

project

• Generally lower than expected frequencies experienced by

insurance companies

Mediclinic International Ltd

CON CONTINUOUS TINUOUS GR GROWT WTH ST STEAD EADY Y DEVEL DEVELOPMENT OPMENT IN IN AL ALL DIM DIMENSION ENSIONS Key figures

20,000 40,000 60,000 80,000 100,000 2005 2006 2007 2008 2009 2010 2011 2012

Inpatients

CAGR FY: 5.0% (HY 3.9%) 100,000 200,000 300,000 400,000 500,000 2005 2006 2007 2008 2009 2010 2011 2012

Patient days (H+)

Half year Full year CAGR FY: 4.8% (HY 3.3%) 200 400 600 800 1,000 1,200 1,400 2005 2006 2007 2008 2009 2010 2011 2012 Revenue (MCHF) CAGR FY: 8.6% (HY 7.3%) 50 100 150 200 250 300 2005 2006 2007 2008 2009 2010 2011 2012 EBITDA (MCHF) CAGR FY: 8.4% (HY 7.3%) Mediclinic International Ltd 63 Interim Results | 30 September 2011

CON CONTINUOUS TINUOUS GR GROWT WTH IN INPATIE TIENT NT SE SEASON ASONALITY ALITY 1st versus 2nd half year frequencies

4,500 5,000 5,500 6,000 6,500 7,000 7,500 8,000 8,500 April May June July August September October November December January February March Inpatients

FY 2009 FY 2010 FY 2011 FY 2012

1Q 2Q

Mediclinic International Ltd 64 Interim Results | 30 September 2011

ST STRENGTHE RENGTHENED NED LE LEADERSHIP ADERSHIP NEW NEW EX EXCO CO S STR TRUC UCTURE TURE

CFO

Andreas Kappeler

COO WESTERN REGION

Adrian Dennler

Klinik Beau-Site Salem-Spital Clinique Cecil Clinique Bois-Cerf Klinik Permanence

COO CENTRAL REGION

Nicolaus Fontana

Klinik Im Park Klinik St. Anna Hirslanden Klinik Aarau AndreasKlinik Cham Zug Klinik Birshof

COO EASTERN REGION

André Steiner

Klinik Hirslanden Klinik Belair Marketing Investments Real Estate + Movables

CHO

Magnus Oetiker

ICT-Services Human Resources Funder Relations Clinical Services

• Admin. Functions

Group Accounting Group Controlling Supply Chain Management

CEO

• Dr. Ole Wiesinger

BOARD EXCO

Klinik Stephanshorn Klinik Am Rosenberg Hirslanden Klinik Aarau Klinik Birshof Klinik Im Park Klinik St. Anna AndreasKlinik Cham Zug Service Centre FIN Business Unit CONTR New Hospital Manager

NEW NEW NEW NEW NEW

Mediclinic International Ltd 65 Interim Results | 30 September 2011

GR GROWING WING TOGET OGETHER HER REALISING REALISING CON CONVER VERGENC GENCE E & S & SYN YNER ERGI GIES ES

Central Organisation

Shared Service Centre Group Controlling Group Accounting

CFO Hospitals / Head Office

Business Unit Controlling Marketing & Recruiting Staff & leadership development Operations, Staffing & Salary

CHO

Central HR Klinik Hirslanden

Business Partner Business Partner

Klinik Im Park

Business Partner

Head Office

Business Partner Business Partner Business Partner

Mediclinic International Ltd 66 Interim Results | 30 September 2011

CON CONTINUOUS TINUOUS INVEST INVESTMENT MENTS EXP EXPAN ANDIN DING G OU OUR R CA CAPACITIES CITIES AN AND D CA CAPAB ABILITIE ILITIES CAPEX projects completed last half-year

• Aarau: Renovation ward
• Berne: New doctors building
• Lucerne: Renovation of two

departments

• Movables:
• Zurich: SPECT-CT, 3T MRI, MRI

Symphony (upgrade)

• Lucerne: MRI (outpatient centre

main station)

Mediclinic International Ltd 67 Interim Results | 30 September 2011

LOOK OOKING ING FORWARD FORWARD CH CHALLE ALLENG NGES ES AND AND OPPOR OPPORTUNI TUNITIE TIES

• Macroeconomic environment: Challenges for a small

economy

• Internal growth: On going investment in our future
• External growth: Seizing the opportunities of beginning

market consolidation

• Regulatory environment: Being ready for new

regulatory conditions 2012

Mediclinic International Ltd 68 Interim Results | 30 September 2011

ECONOMIC ECONOMIC ENVIR ENVIRONMENT ONMENT CH CHALLE ALLENG NGES ES F FOR OR A A SMALL SMALL ECO ECONO NOMY MY

• Economic outlook for Switzerland has deteriorated over past months
• Main factors are unfavourable foreign trade conditions:
• Slowing down of world economy
• High valuation of the Swiss Franc – even after introduction of

exchange rate floor to the Euro

• Negative impact on exports and company investments
• Effect on real economy is “painful but bearable” (Credit Suisse)
• Forecasts predict a temporarily drop in GDP growth over next

quarters

• For 2012 as whole the GDP forecasts have all been lowered but are

still positive

• Acute care market:
• Empirically fewer elective treatments observable
• Altogether low effect on acute care market expected

Mediclinic International Ltd 69 Interim Results | 30 September 2011

INTE INTERN RNAL AL GR GROWT WTH ON ONGO GOIN ING G IN INVEST VESTMENT MENT IN IN OUR OUR FUTURE FUTURE Major CAPEX Projects

Mediclinic International Ltd 70 Interim Results | 30 September 2011

BUILDING UILDING PR PROJE OJECTS CTS IN IN PR PROG OGRESS RESS

Mediclinic International Ltd 71 Interim Results | 30 September 2011

Complete in next 6 months

Hospital Additional beds Klinik Beau-Site (additional beds and upgrade) 9 Klinik Bois-Cerf (radiology department)

• Total

9

Complete during 2013

Hospital Additional beds Klinik Bois-Cerf (radiotherapy department)

• Total
• Complete during 2014

Hospital Additional beds Klinik Hirslanden (additional beds and consulting rooms) 71 Total 71

Klinik Beau-Site Klinik Bois-Cerf Klinik Hirslanden

North-western part Central part Western part (mainly French speaking) Midland Eastern part Southern (Italian speaking) part

EXT EXTERN ERNAL AL GR GROWT WTH GR GRASP ASP OPPOR OPPORTUNI TUNITIE TIES S – WEL WELL-CO CONSIDERED NSIDERED The market consolidation has already begun…

Mediclinic International Ltd 72 Interim Results | 30 September 2011

REGULA REGULATOR ORY Y ENVIR ENVIRONMENT ONMENT NEW NEW HO HOSP SPIT ITAL AL REGU REGULA LATION TION IN IN AB ABOU OUT T 50 50 D DAYS

Regulatory changes Key topics Challenges KVG Revision

Hospital planning Hospital financing Highly specialised medicine

“Dual-fix“ financing system including invest portion Minimum case numbers Fee for service (introduction of SwissDRG) Cantonal service mandates (hospital listing status) Conflict of interests for cantons (multiple role)  fair treatment of private sector Economically viable tariffs (base rate, invest quota) DRG readiness: documentation, coding, IT Structural requirements Defining requirements Meeting requirements Equal footing of all listed (!) hospitals

Opportunities

Advantage for superior management expertise Market consolidation (expansion private sector) Private-sector financing

Mediclinic International Ltd 73 Interim Results | 30 September 2011

REGULA REGULATOR ORY Y ENVIR ENVIRONMENT ONMENT ST STILL ILL VAR ARIO IOUS US UN UNCER CERTAIN AINTIE TIES

AG AR BE BL LU SG SH VD ZG ZH

List status (service mandates) Regulations for listed hospitals Base rate (tariffs) Highly specialised medicine

Severe burns, organ transplantation, cochlea implants, proton therapy, transplant of stem cells Neurology, neurosurgery, neuro-radiology, stroke, and severe injuries Visceral surgery (esophageal resection, rectum resection, pancreas resection, major liver surgery and complex bariatric surgery)

Status (progress)

No results yet Finished Favourable Suboptimal Unfavourable

Mediclinic International Ltd 74 Interim Results | 30 September 2011

REGULA REGULATOR ORY Y ENVIR ENVIRONMENT ONMENT MEASURES MEASURES TAK AKEN EN

EXCO

Funder Relations Public Affairs Corporate Communications

• Corp. Legal /

Tariff Expert Hospital man. Hospital man. Hospital man. Expert panel External LEGAL DRG task force Task force hospital financing

• Internal monitoring and reporting
• Expert panel
• Central support (Head Office)
• Meeting with cantonal authorities
• Internal / external communication
• Formal consultations / complaints
• Publications (position papers, etc.)
• Activities in industry associations
• Lobbying
• Scenario modelling

BOARD

Mediclinic International Ltd 75 Interim Results | 30 September 2011

ST STRA RATE TEGIC GIC OUTL OUTLOOK OOK QU QUALITY ALITY LE LEAD ADERSHIP ERSHIP – TOM OMOR ORROW AS W AS WE AR E ARE E TOD ODAY

• Active management of political environment
• Preparation for new regulatory conditions
• Expansion / renovation projects
• Screening the market for targets
• Supplementary business models
• Striving for business excellence
• Structural / organisational changes
• Convergence & synergies

Mediclinic International Ltd 76 Interim Results | 30 September 2011

UNIT UNITED ED ARA ARAB B EMIRA EMIRATES TES EMIRA EMIRATES TES HEAL HEALTHCARE THCARE

Mediclinic International Ltd Interim Results | 30 September 2011 78

LE LEADI ADING NG IN DUB IN DUBAI AI

* Excluding doctors

At 30 September 2011 Hospitals 2 Clinics 8 Beds: Hospitals 336 Beds: Clinics 10 Doctors (employed) 235 Doctors (self employed with admission rights) 161 Employees* 1 510

GR GROU OUP P PE PERFOR RFORMAN MANCE CE

Interim Results | 30 September 2011 79

• Strong growth in revenue & EBITDA across the group
• The City Hospital continues to grow, they now occupy a

further 30 beds and only have one floor vacant

• Welcare Hospital - at capacity, efficiency drove performance
• The three new clinics have been integrated and the second

half of the year is expected to be stronger

• Increased focus on Dubai Mall Medical Center, with 35

doctors, MRI, CT, Mammography, day ward, laboratory and Lasix Machine

• Ibn Battuta continues to exceed all expectations
• Other clinics are performing well

Mediclinic International Ltd

ECON ECONOM OMIC IC ENVIR ENVIRON ONMENT MENT

Interim Results | 30 September 2011 80

• Unrest in other parts of the Middle East continues to have

a positive effect on Dubai

• Property sector still struggling, but stabilised
• New competition, yet to open but on the horizon
• Renewed focus on Dubai Healthcare City
• Dubai Metro fully operational

Mediclinic International Ltd

ST STRA RATE TEGY GY GOIN GOING FORWAR G FORWARD

Interim Results | 30 September 2011 81

• Bring The City Hospital to capacity – last 30 beds
• Unified brand!
• Centres of competence (Breast Centre, Gamma knife,

Nuclear medicine etc)

• Dubai Mall Medical Centre focus
• Bring Ibn Battuta, Meadows & Arabian Ranches to

capacity

• EHHL office relocation
• Preparation for tariff reformation
• Proactive Growth Investigations
• Abu Dhabi

Mediclinic International Ltd

TOTAL P AL PATIE TIENTS NTS SE SEEN EN ALL ALL UN UNITS ITS

Interim Results | 30 September 2011 82 Mediclinic International Ltd

100 204 104 229 145 303 154 333 176 56 96 73 157 69 144 68 175 126

100 200 300 400 500 600 HY2008 FY2008 HY2009 FY2009 HY2010 FY2010 HY2011 FY2011 HY2012 Total patients (000s) Hospitals HY Clinics HY Hospitals FY Clinics FY

CAGR: 19.1% CAGR: 17.9%

TOTAL A AL ADM DMISS ISSIO IONS NS HO HOSP SPIT ITALS ALS

Interim Results | 30 September 2011 83 Mediclinic International Ltd

2 4 2 5 3 7 4 9 5 2 6 3 6 4 9 5 11 6

5 10 15 20 25 HY2008 FY2008 HY2009 FY2009 HY2010 FY2010 HY2011 FY2011 HY2012 Admissions (000s) Surgical HY Non-surgical HY Surgical FY Non-surgical FY

CAGR: 25.3% CAGR: 24.1%

BED BED-DAYS HO HOSP SPIT ITALS ALS

Interim Results | 30 September 2011 84

• Dubai (clinics & hospital southern side).

Mediclinic International Ltd

11.7 13.0 18.4 21.9 27.2 26.0 28.5 40.0 49.2

0.0 10.0 20.0 30.0 40.0 50.0 60.0 2008 2009 2010 2011 2012 Bed-days sold (000s) Half year Full year

CAGR: 23.6% CAGR: 23.6%

TOTAL B AL BIR IRTHS THS HO HOSP SPIT ITALS ALS

Interim Results | 30 September 2011 85

• Dubai (clinics & hospital southern side).

Mediclinic International Ltd

0.6 0.7 1.0 1.3 1.7 1.2 1.5 2.2 3.1

0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 2008 2009 2010 2011 2012 Births (000s) Half year Full year

CAGR: 32.5% CAGR: 37.4%

GR GROUP OUP PR PROSP OSPECTS ECTS

PR PROSPE OSPECTS CTS

Interim Results | 30 September 2011 87

• Uniquely positioned across three diverse global platforms
• Stable and experienced management team
• The Group is focusing on:
• Establishment of a global hospital group
• Consolidating its collective intellectual capital
• Distinguishing itself through verifiable cost effective quality care
• Significant resources continue to be invested across the

platforms

• Constant monitoring of regulatory environment
• Optimistic about future prospects depending on the global

economic outlook

Mediclinic International Ltd

GR GROWTH WTH ST STRA RATE TEGY GY CO COUN UNTR TRY Y AN AND D REGI REGION ONAL L AL LEVEL EVEL

Interim Results | 30 September 2011 88 Mediclinic International Ltd

• Significant growth prospects in all operating platforms
• Short term opportunities presented under the operational

reviews

• Constantly evaluate growth opportunities to expand global

footprint

REBRANDING WHY DID WE CHANGE?

Interim Results | 30 September 2011 89 Mediclinic International Ltd

• Previous brand was dated
• Created more than 25 years ago
• Not flexible enough to be exported cross culturally
• Inherited fragmented brands through global acquisitions
• Lack of differentiation
• Similar visual language
• Similar tone of voice
• Development of the optimum brand architecture for

current and future global positioning

IN INTO THE O THE ST STRENG RENGTH TH OF O OF OUR UR FUTURE FUTURE

Interim Results | 30 September 2011 90 Mediclinic International Ltd

Interim Results | 30 September 2011 91 Mediclinic International Ltd

IN INTO THE O THE ST STRENG RENGTH TH OF O OF OUR UR FUTURE FUTURE

THE WA THE WAY Y FORWA FORWARD RD

Interim Results | 30 September 2011 92 Mediclinic International Ltd

Southern Africa

• Internal and external launch
• Look and feel of hospitals
• Patient Journey

Switzerland

• Working towards launching in 2013/14

Dubai

• Subject to the approval of all shareholders

QUES QUESTION TIONS

APPENDICES APPENDICES

MEDIC MEDICLINIC LINIC SOUTHERN SOUTHERN A AFRICA FRICA FIN FINAN ANCIA CIAL L RESUL RESULTS TS

Mediclinic International Ltd Interim Results | 30 September 2011 95

ZAR million HY2012 HY2011 % change Revenue 4,695 4,244 11% EBITDA 989 910 9% Depreciation 123 112 10% Operating profit 861 797 8% Net finance charges 166 174

• 5%

Tax 230 195 18% Non-controlling interests 76 73 4% Attributable income 394 356 11% EBITDA margin 21.1% 21.4% EBITDA interest cover 5.3x 4.7x ZAR million 30 Sep 11 31 Mar 11 % change Total interest-bearing debt 3,744 3,757 0% Total assets 6,338 6,200 2%

HI HIRSLAND RSLANDEN EN FIN FINAN ANCIA CIAL L RESUL RESULTS TS (CH (CHF) F)

Mediclinic International Ltd Interim Results | 30 September 2011 96

CHF million HY2012 HY2011 % change Revenue 606 562 8% EBITDA 129 124 4% Depreciation 33 29 14% Operating profit 97 95 2% Net finance charges 73 74

• 1%

Tax 15 16

• 6%

Attributable income 8 5 60% EBITDA margin 21.4% 22.1% EBITDA interest cover 1.6x 1.7x CHF million 30 Sep 11 31 Mar 11 % change Total interest-bearing debt 2,437 2,437 0% Total assets 4,558 4,602

• 1%

HI HIRSLAND RSLANDEN EN FIN FINAN ANCIA CIAL L RESUL RESULTS TS (ZAR (ZAR)

Mediclinic International Ltd Interim Results | 30 September 2011 97

ZAR million HY2012 HY2011 % change Revenue 5,001 3,913 28% EBITDA 1,070 866 24% Depreciation 268 217 24% Operating profit 802 663 21% Net finance charges 605 558 8% Tax 128 92 39% Attributable income 69 36 91% Average exchange rate 8.25 6.96 Spot exchange rate 8.96 7.18 ZAR million 30 Sep 11 31 Mar 11 % change Total interest-bearing debt 21,837 18,083 21% Total assets 40,836 34,150 20%

EMIRA EMIRATE TES HEAL S HEALTHCA THCARE RE FIN FINAN ANCIA CIAL L RESUL RESULTS TS (AED (AED)

Mediclinic International Ltd Interim Results | 30 September 2011 98

AED million HY2012 HY2011 % change Revenue 406 301 35% EBITDA 63 45 40% Depreciation 24 18 33% Operating profit 40 27 47% Net finance charges 8 9

• 11%

Non-controlling interests 15 9 67% Attributable income 16 9 78% EBITDA margin 15.6% 14.7% EBITDA interest cover 7.6x 4.8x AED million 30 Sep 11 31 Mar 11 % change Total interest-bearing debt 233 221 5% Total assets 931 994

• 6%

EMIRA EMIRATE TES HEAL S HEALTHCA THCARE RE FIN FINAN ANCIA CIAL L RESUL RESULTS TS (ZAR (ZAR)

Mediclinic International Ltd Interim Results | 30 September 2011 99

ZAR million HY2012 HY2011 % change Revenue 771 611 26% EBITDA 120 90 33% Depreciation 45 36 25% Operating profit 75 54 39% Net finance charges 14 18

• 22%

Non-controlling interests 30 18 67% Attributable income 31 18 72% Average exchange rate 1.90 2.03 Spot exchange rate 2.20 1.90 ZAR million 30 Sep 11 31 Mar 11 % change Total interest-bearing debt 512 408 25% Total assets 2,048 1,838 11%

MEDIC MEDICLINIC LINIC GR GROU OUP CO CONSOLID NSOLIDATE TED FIN FINAN ANCIA CIAL L RESUL RESULTS TS

Mediclinic International Ltd Interim Results | 30 September 2011 100

ZAR million HY2012 HY2011 % change Revenue 10,467 8,768 19% EBITDA 2,179 1,866 17% Operating profit 1,743 1,515 15% Net finance charges 766 709 8% Tax 357 305 17% Headline earnings 484 407 19% Headline earnings per share (cents) 77.2 70.2 10%

Weighted ave. no. of shares in issue (m)

627 580 8% EBITDA margin 20.8% 21.3% Normalised debt / EBITDA1 4.7x 5.6x Normalised EV / EBITDA1 10.4x 10.6x EBITDA interest cover 2.6x 2.5x

• 1. Calculated using LTM EBITDA converted at the closing exchange rate. Also refer

to notes on financial flexibility slide

Interim Results | 30 September 2011 101 All statements other than those of historical facts included in this presentation are forward-looking statements. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to, currency fluctuations, increased operational and capital costs, political and operational risks, governmental regulation and judicial outcomes. The Company gives no guarantees or warranties that any of the future events, expectations or results referred to in the forward-looking statements will happen or materialise. The Company also does not undertake any obligation to release publicly any revisions to any “forward-looking statement” to reflect events and circumstances after the date of this presentation, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

DISCLAIMER

Mediclinic International Ltd