|                                 |
|---------------------------------|
|                                 |  |
| Media Contact                   | February 21, 2017 |
| Casey Lassiter, 205 641-1118    | For Immediate Release |
| casey.lassiter@healthsouth.com  |   |
|                            |   |
| Investor Relations Contact      |   |
| Crissy Carlisle, 205 970-5860   |   |
| crissy.carlisle@healthsouth.com |   |

|                                                                                 |
|---------------------------------------------------------------------------------|
|                                                                                 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                            |   |   |   |   | Growth |
|                                                                            | Q4 2016 |   | Q4 2015 |   | Dollars |   | Percent |
|                                                                            | (In Millions, Except per Share Data) |
| Net operating revenues                                                          | $ | 949.9 |  |   | $ | 879.3 |  |   | $ | 70.6 |  |   | 8.0 |  % |
| Income from continuing operations attributable to HealthSouth per diluted share | 0.68 |  |   | 0.48 |  |   | 0.20 |  |   | 41.7 |  % |
| Adjusted earnings per share                                                     | 0.72 |  |   | 0.59 |  |   | 0.13 |  |   | 22.0 |  % |
| Cash flows provided by operating activities                                     | 116.0 |  |   | 116.6 |  |   | (0.6 | ) |   | (0.5 | )% |
| Adjusted EBITDA                                                                 | 198.8 |  |   | 191.5 |  |   | 7.3 |  |   | 3.8 |  % |
| Adjusted free cash flow                                                         | 78.3 |  |   | 83.0 |  |   | (4.7 | ) |   | (5.7 | )% |
|                                                                            | Year Ended December 31, |   |   |   |   |
|                                                                            | 2016 |   | 2015 |   |   |   |   |
| Cash flows provided by operating activities                                     | 605.5 |  |   | 484.8 |  |   | 120.7 |  |   | 24.9 |  % |
| Adjusted free cash flow                                                         | 462.9 |  |   | 389.0 |  |   | 73.9 |  |   | 19.0 |  % |

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|   |   | 1 |

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|                                   |
|-----------------------------------|
|                                   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                              |   |   |   |   | Growth |
|                              | Q4 2016 |   | Q4 2015 |   | Dollars |   | Percent |
| Net operating revenues:           | (In Millions) |
| Inpatient                         | $ | 740.9 |  |   | $ | 696.8 |  |   | $ | 44.1 |  |   | 6.3 |  % |
| Outpatient and other              | 26.7 |  |   | 29.1 |  |   | (2.4 | ) |   | (8.2 | )% |
| Total segment revenue             | $ | 767.6 |  |   | $ | 725.9 |  |   | $ | 41.7 |  |   | 5.7 |  % |
|                              |   |   |   |   |   |   |   |
|                              | (Actual Amounts) |
| Discharges                        | 41,474 |  |   | 40,891 |  |   | 583 |  |   | 1.4 |  % |
| Same-store discharge growth       |   |   |   |   |   |   | 0.1 |  % |
| Net patient revenue per discharge | $ | 17,864 |  |   | $ | 17,040 |  |   | $ | 824 |  |   | 4.8 |  % |
|                              |   |   |   |   |   |   |   |
|                              | (In Millions) |
| Adjusted EBITDA                   | $ | 197.6 |  |   | $ | 189.9 |  |   | $ | 7.7 |  |   | 4.1 |  % |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Revenue - Revenue growth resulted primarily from an increase in net patient revenue per discharge and new-store volume growth. Growth in net patient revenue per discharge resulted from patient mix (higher percentage of stroke patients and the integration of the Reliant hospitals). Discharge growth from new stores resulted from the Company's joint ventures in Hot Springs, Arkansas (February 2016), Bryan, Texas (August 2016), and Broken Arrow, Oklahoma (August 2016), as well as the opening of wholly owned hospitals in Franklin, Tennessee (December 2015) and Modesto, California (October 2016). |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Adjusted EBITDA - The increase in Adjusted EBITDA for the inpatient rehabilitation segment resulted primarily from revenue growth. Salaries and benefits increased as a percent of net operating revenues due to the ramp up of new stores and staffing increases at the Reliant hospitals since their acquisition on October 1, 2015. Hospital operating expenses as a percent of net operating revenues decreased by 20 basis points year over year as higher self-insurance costs were offset by continued supply chain efficiencies, including the continued transition of brand name drugs to generic. Bad debt expense as a percent of net operating revenues decreased from 1.8% in the fourth quarter of 2015 to 1.7% in the fourth quarter of 2016 due primarily to the recovery of payments that were delayed for administrative reasons at the Company's largest MAC. |

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|   |   | 2 |

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|                              |
|------------------------------|
|                              |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                         |   |   |   |   | Growth |
|                         | Q4 2016 |   | Q4 2015 |   | Dollars |   | Percent |
| Net operating revenues:      | (In Millions) |
| Home health                  | $ | 165.2 |  |   | $ | 144.4 |  |   | $ | 20.8 |  |   | 14.4 | % |
| Hospice and other            | 17.1 |  |   | 9.0 |  |   | 8.1 |  |   | 90.0 | % |
| Total segment revenue        | $ | 182.3 |  |   | $ | 153.4 |  |   | $ | 28.9 |  |   | 18.8 | % |
|                         |   |   |   |   |   |   |   |
|                         | (Actual Amounts) |
| Admissions                   | 27,957 |  |   | 22,892 |  |   | 5,065 |  |   | 22.1 | % |
| Same-store admissions growth |   |   |   |   |   |   | 14.0 | % |
| Episodes                     | 49,253 |  |   | 42,697 |  |   | 6,556 |  |   | 15.4 | % |
| Same-store episode growth    |   |   |   |   |   |   | 12.4 | % |
| Revenue per episode          | $ | 3,023 |  |   | $ | 3,005 |  |   | $ | 18 |  |   | 0.6 | % |
|                         |   |   |   |   |   |   |   |
|                         | (In Millions) |
| Adjusted EBITDA              | $ | 28.0 |  |   | $ | 26.5 |  |   | $ | 1.5 |  |   | 5.7 | % |

|         |                                                                                                                                                                                                    |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Revenue - Revenue growth resulted from strong same-store and new-store volume growth. Growth from new stores resulted primarily from the acquisition of CareSouth (acquired November 2, 2015). |

|         |                                                                                                                                                                                                                                                                                                                 |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Adjusted EBITDA - Growth in Adjusted EBITDA resulted primarily from revenue growth. Adjusted EBITDA for the segment was impacted by higher cost per visit (driven by an increased percentage of therapy patients), salary and benefit cost increases, and expenses related to the integration of CareSouth. |

|                                                                                 |
|---------------------------------------------------------------------------------|
|                                                                                 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                            | Full-Year |   | Growth |
|                                                                            | 2016 |   | 2015 |   | Dollars |   | Percent |
|                                                                            | (In Millions, Except per Share Data) |
| Net operating revenues                                                          | $ | 3,707.2 |  |   | $ | 3,162.9 |  |   | $ | 544.3 |  |   | 17.2 | % |
| Income from continuing operations attributable to HealthSouth per diluted share | 2.59 |  |   | 1.92 |  |   | 0.67 |  |   | 34.9 | % |
| Adjusted earnings per share                                                     | 2.67 |  |   | 2.24 |  |   | 0.43 |  |   | 19.2 | % |
| Adjusted EBITDA                                                                 | 793.6 |  |   | 682.5 |  |   | 111.1 |  |   | 16.3 | % |

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|   |   | 3 |

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|                                                                                    |
|------------------------------------------------------------------------------------|
|                                                                                    |  |
| Full-Year 2017 Guidance Ranges                                                     |
| (In Millions, Except Per Share Data)                                               |
| Net operating revenues                                                             | $3,850 to $3,950 |
| Adjusted EBITDA                                                                    | $800 to $820 |
| Adjusted earnings per share from continuing operations attributable to HealthSouth | $2.61 to $2.73 |

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|        |  |  |
|   |   | 4 |

----

|         |                                                                                      |
|---------|--------------------------------------------------------------------------------------|
| • | Provision for doubtful accounts - estimate of 1.8% to 2.0% of net operating revenues |

|         |                                                                                                         |
|---------|---------------------------------------------------------------------------------------------------------|
| • | Interest expense and amortization of debt discounts and fees - estimate of $165 million to $175 million |

|         |                                                                |
|---------|----------------------------------------------------------------|
| • | Amortization of debt-related items - approximately $15 million |

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|   |   | 5 |

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|                                                              |
|--------------------------------------------------------------|
|                                                              |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                         | For the Three Months Ended December 31, |   | For the Year Ended December 31, |
|                                                         | 2016 |   | 2015 |   | 2016 |   | 2015 |
|                                                         | (In Millions) |
| Net operating revenues                                       | $ | 949.9 |  |   | $ | 879.3 |  |   | $ | 3,707.2 |  |   | $ | 3,162.9 |  |
| Less: Provision for doubtful accounts                        | (14.5 | ) |   | (14.0 | ) |   | (61.2 | ) |   | (47.2 | ) |
| Net operating revenues less provision for doubtful accounts  | 935.4 |  |   | 865.3 |  |   | 3,646.0 |  |   | 3,115.7 |  |
| Operating expenses:                                          |   |  |   |   |  |   |   |   |   |
| Salaries and benefits                                        | 516.3 |  |   | 466.8 |  |   | 1,985.9 |  |   | 1,670.8 |  |
| Other operating expenses                                     | 125.1 |  |   | 118.0 |  |   | 492.1 |  |   | 432.1 |  |
| Occupancy costs                                              | 17.8 |  |   | 16.8 |  |   | 71.3 |  |   | 53.9 |  |
| Supplies                                                     | 35.8 |  |   | 34.6 |  |   | 140.0 |  |   | 128.7 |  |
| General and administrative expenses                          | 36.8 |  |   | 36.0 |  |   | 133.4 |  |   | 133.3 |  |
| Depreciation and amortization                                | 43.8 |  |   | 41.4 |  |   | 172.6 |  |   | 139.7 |  |
| Government, class action, and related settlements            | — |  |   | (0.5 | ) |   | — |  |   | 7.5 |  |
| Professional fees—accounting, tax, and legal           | — |  |   | 0.3 |  |   | 1.9 |  |   | 3.0 |  |
| Total operating expenses                                     | 775.6 |  |   | 713.4 |  |   | 2,997.2 |  |   | 2,569.0 |  |
| Loss on early extinguishment of debt                         | — |  |   | 2.4 |  |   | 7.4 |  |   | 22.4 |  |
| Interest expense and amortization of debt discounts and fees | 41.6 |  |   | 44.6 |  |   | 172.1 |  |   | 142.9 |  |
| Other income                                                 | (0.8 | ) |   | (1.3 | ) |   | (2.9 | ) |   | (5.5 | ) |
| Equity in net income of nonconsolidated affiliates           | (2.5 | ) |   | (2.4 | ) |   | (9.8 | ) |   | (8.7 | ) |
| Income from continuing operations before income tax expense  | 121.5 |  |   | 108.6 |  |   | 482.0 |  |   | 395.6 |  |
| Provision for income tax expense                             | 39.7 |  |   | 43.5 |  |   | 163.9 |  |   | 141.9 |  |
| Income from continuing operations                            | 81.8 |  |   | 65.1 |  |   | 318.1 |  |   | 253.7 |  |
| Income (loss) from discontinued operations, net of tax       | 0.3 |  |   | 0.7 |  |   | — |  |   | (0.9 | ) |
| Net income                                                   | 82.1 |  |   | 65.8 |  |   | 318.1 |  |   | 252.8 |  |
| Less: Net income attributable to noncontrolling interests    | (16.8 | ) |   | (18.8 | ) |   | (70.5 | ) |   | (69.7 | ) |
| Net income attributable to HealthSouth                       | 65.3 |  |   | 47.0 |  |   | 247.6 |  |   | 183.1 |  |
| Less: Convertible perpetual preferred stock dividends        | — |  |   | — |  |   | — |  |   | (1.6 | ) |
| Net income attributable to HealthSouth common shareholders   | $ | 65.3 |  |   | $ | 47.0 |  |   | $ | 247.6 |  |   | $ | 181.5 |  |

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|        |  |  |
|   | (Continued) | 6 |

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|                                                                             |
|-----------------------------------------------------------------------------|
|                                                                             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                        | For the Three Months Ended December 31, |   | For the Year Ended December 31, |
|                                                                        | 2016 |   | 2015 |   | 2016 |   | 2015 |
|                                                                        | (In Millions, Except Per Share Data) |
| Weighted average common shares outstanding:                                 |   |  |   |   |  |   |   |   |   |
| Basic                                                                       | 88.6 |  |   | 90.1 |  |   | 89.1 |  |   | 89.4 |  |
| Diluted                                                                     | 99.2 |  |   | 100.6 |  |   | 99.5 |  |   | 101.0 |  |
|                                                                        |   |   |   |   |   |   |   |
| Earnings per common share:                                                  |   |   |   |   |   |   |   |
| Basic earnings per share attributable to HealthSouth common shareholders:   |   |   |   |  |   |   |   |   |
| Continuing operations                                                       | $ | 0.73 |  |   | $ | 0.51 |  |   | $ | 2.77 |  |   | $ | 2.03 |  |
| Discontinued operations                                                     | — |  |   | 0.01 |  |   | — |  |   | (0.01 | ) |
| Net income                                                                  | $ | 0.73 |  |   | $ | 0.52 |  |   | $ | 2.77 |  |   | $ | 2.02 |  |
| Diluted earnings per share attributable to HealthSouth common shareholders: |   |   |   |   |   |   |   |
| Continuing operations                                                       | $ | 0.68 |  |   | $ | 0.48 |  |   | $ | 2.59 |  |   | $ | 1.92 |  |
| Discontinued operations                                                     | — |  |   | 0.01 |  |   | — |  |   | (0.01 | ) |
| Net income                                                                  | $ | 0.68 |  |   | $ | 0.49 |  |   | $ | 2.59 |  |   | $ | 1.91 |  |
|                                                                        |   |   |   |   |   |   |   |
| Cash dividends per common share                                             | $ | 0.24 |  |   | $ | 0.23 |  |   | $ | 0.94 |  |   | $ | 0.88 |  |
|                                                                        |   |   |   |   |   |   |   |
| Amounts attributable to HealthSouth common shareholders:                    |   |   |   |  |   |   |   |   |
| Income from continuing operations                                           | $ | 65.0 |  |   | $ | 46.3 |  |   | $ | 247.6 |  |   | $ | 184.0 |  |
| Income (loss) from discontinued operations, net of tax                      | 0.3 |  |   | 0.7 |  |   | — |  |   | (0.9 | ) |
| Net income attributable to HealthSouth                                      | $ | 65.3 |  |   | $ | 47.0 |  |   | $ | 247.6 |  |   | $ | 183.1 |  |

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|   |   | 7 |

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|                                                                                                  |
|--------------------------------------------------------------------------------------------------|
|                                                                                                  |  |  |  |  |  |  |  |
|                                                                                             | December 31, 2016 |   | December 31, 2015 |
|                                                                                             | (In Millions) |
| Assets                                                                                           |   |   |   |
| Current assets:                                                                                  |   |   |   |
| Cash and cash equivalents                                                                        | $ | 40.5 |  |   | $ | 61.6 |  |
| Restricted cash                                                                                  | 60.9 |  |   | 45.9 |  |
| Accounts receivable, net of allowance for doubtful accounts of $53.9 in 2016; $39.3 in 2015 | 443.8 |  |   | 410.5 |  |
| Prepaid expenses and other current assets                                                        | 109.3 |  |   | 80.7 |  |
| Total current assets                                                                             | 654.5 |  |   | 598.7 |  |
| Property and equipment, net                                                                      | 1,391.8 |  |   | 1,310.1 |  |
| Goodwill                                                                                         | 1,927.2 |  |   | 1,890.1 |  |
| Intangible assets, net                                                                           | 411.3 |  |   | 419.4 |  |
| Deferred income tax assets                                                                       | 75.8 |  |   | 190.8 |  |
| Other long-term assets                                                                           | 221.3 |  |   | 197.0 |  |
| Total assets                                                                                     | $ | 4,681.9 |  |   | $ | 4,606.1 |  |
| Liabilities and Shareholders’ Equity                                                       |   |   |   |
| Current liabilities:                                                                             |   |   |   |
| Current portion of long-term debt                                                                | $ | 37.1 |  |   | $ | 36.8 |  |
| Accounts payable                                                                                 | 68.3 |  |   | 61.6 |  |
| Accrued payroll                                                                                  | 147.3 |  |   | 126.2 |  |
| Accrued interest payable                                                                         | 25.8 |  |   | 29.7 |  |
| Other current liabilities                                                                        | 197.1 |  |   | 172.1 |  |
| Total current liabilities                                                                        | 475.6 |  |   | 426.4 |  |
| Long-term debt, net of current portion                                                           | 2,979.3 |  |   | 3,134.7 |  |
| Self-insured risks                                                                               | 110.4 |  |   | 101.6 |  |
| Other long-term liabilities                                                                      | 49.6 |  |   | 43.0 |  |
|                                                                                             | 3,614.9 |  |   | 3,705.7 |  |
| Commitments and contingencies                                                                    |   |   |   |
| Redeemable noncontrolling interests                                                              | 138.3 |  |   | 121.1 |  |
| Shareholders’ equity:                                                                      |   |  |   |   |  |
| HealthSouth shareholders’ equity                                                           | 735.9 |  |   | 611.4 |  |
| Noncontrolling interests                                                                         | 192.8 |  |   | 167.9 |  |
| Total shareholders’ equity                                                                 | 928.7 |  |   | 779.3 |  |
| Total liabilities and shareholders’ equity                                                 | $ | 4,681.9 |  |   | $ | 4,606.1 |  |

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|        |  |  |
|   |   | 8 |

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|                                                                                         |
|-----------------------------------------------------------------------------------------|
|                                                                                         |  |  |  |  |  |  |  |
|                                                                                    | For the Year Ended December 31, |
|                                                                                    | 2016 |  | 2015 |
|                                                                                    | (In Millions) |
| Cash flows from operating activities:                                                   |   |   |   |
| Net income                                                                              | $ | 318.1 |  |   | $ | 252.8 |  |
| Loss from discontinued operations, net of tax                                           | — |  |   | 0.9 |  |
| Adjustments to reconcile net income to net cash provided by operating activities— |   |  |   |   |  |
| Provision for doubtful accounts                                                         | 61.2 |  |   | 47.2 |  |
| Provision for government, class action, and related settlements                         | — |  |   | 7.5 |  |
| Depreciation and amortization                                                           | 172.6 |  |   | 139.7 |  |
| Amortization of debt-related items                                                      | 13.8 |  |   | 14.3 |  |
| Loss on early extinguishment of debt                                                    | 7.4 |  |   | 22.4 |  |
| Equity in net income of nonconsolidated affiliates                                      | (9.8 | ) |   | (8.7 | ) |
| Distributions from nonconsolidated affiliates                                           | 8.5 |  |   | 7.7 |  |
| Stock-based compensation                                                                | 27.4 |  |   | 26.2 |  |
| Deferred tax expense                                                                    | 132.9 |  |   | 127.1 |  |
| Other, net                                                                              | 0.1 |  |   | (0.6 | ) |
| Change in assets and liabilities, net of acquisitions—                            |   |   |   |  |
| Accounts receivable                                                                     | (127.5 | ) |   | (134.1 | ) |
| Prepaid expenses and other assets                                                       | (3.3 | ) |   | (9.6 | ) |
| Accounts payable                                                                        | 6.3 |  |   | 0.9 |  |
| Accrued payroll                                                                         | 9.8 |  |   | (18.1 | ) |
| Other liabilities                                                                       | 11.8 |  |   | 13.8 |  |
| Premium received on bond issuance                                                       | — |  |   | 9.8 |  |
| Premium paid on redemption of bonds                                                     | (5.8 | ) |   | (13.7 | ) |
| Windfall tax benefits from share-based compensation                                     | (17.3 | ) |   | — |  |
| Net cash used in operating activities of discontinued operations                        | (0.7 | ) |   | (0.7 | ) |
| Total adjustments                                                                       | 287.4 |  |   | 231.1 |  |
| Net cash provided by operating activities                                               | 605.5 |  |   | 484.8 |  |
|                                                                                    |   |   |   |

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|        |  |  |
|   | (Continued) | 9 |

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|                                                                           |
|---------------------------------------------------------------------------|
|                                                                           |  |  |  |  |  |  |  |
|                                                                      | For the Year Ended December 31, |
|                                                                      | 2016 |   | 2015 |
|                                                                      | (In Millions) |
| Cash flows from investing activities:                                     |   |   |   |
| Acquisitions of businesses, net of cash acquired                          | (48.1 | ) |   | (985.1 | ) |
| Purchases of property and equipment                                       | (177.7 | ) |   | (128.4 | ) |
| Additions to capitalized software costs                                   | (25.2 | ) |   | (28.1 | ) |
| Proceeds from disposal of assets                                          | 23.9 |  |   | 4.0 |  |
| Proceeds from sale of marketable securities                               | — |  |   | 12.8 |  |
| Purchase of restricted investments                                        | (1.3 | ) |   | (7.1 | ) |
| Net change in restricted cash                                             | (15.1 | ) |   | 2.7 |  |
| Other, net                                                                | (1.6 | ) |   | (1.1 | ) |
| Net cash provided by investing activities of discontinued operations      | 0.1 |  |   | 0.5 |  |
| Net cash used in investing activities                                     | (245.0 | ) |   | (1,129.8 | ) |
| Cash flows from financing activities:                                     |   |   |   |
| Principal borrowing on term loan facilities                               | — |  |   | 250.0 |  |
| Proceeds from bond issuance                                               | — |  |   | 1,400.0 |  |
| Principal payments on debt, including pre-payments                        | (202.1 | ) |   | (597.4 | ) |
| Borrowings on revolving credit facility                                   | 335.0 |  |   | 540.0 |  |
| Payments on revolving credit facility                                     | (313.0 | ) |   | (735.0 | ) |
| Principal payments under capital lease obligations                        | (13.3 | ) |   | (11.0 | ) |
| Debt amendment and issuance costs                                         | — |  |   | (31.9 | ) |
| Repurchases of common stock, including fees and expenses                  | (65.6 | ) |   | (45.3 | ) |
| Dividends paid on common stock                                            | (83.8 | ) |   | (77.2 | ) |
| Dividends paid on convertible perpetual preferred stock                   | — |  |   | (3.1 | ) |
| Distributions paid to noncontrolling interests of consolidated affiliates | (64.9 | ) |   | (54.4 | ) |
| Windfall tax benefits from share-based compensation                       | 17.3 |  |   | — |  |
| Other, net                                                                | 8.8 |  |   | 5.2 |  |
| Net cash (used in) provided by financing activities                       | (381.6 | ) |   | 639.9 |  |
| (Decrease) increase in cash and cash equivalents                          | (21.1 | ) |   | (5.1 | ) |
| Cash and cash equivalents at beginning of period                          | 61.6 |  |   | 66.7 |  |
| Cash and cash equivalents at end of period                                | $ | 40.5 |  |   | $ | 61.6 |  |
| Supplemental schedule of noncash financing activity:                      |   |   |   |
| Preferred stock conversion                                                | $ | — |  |   | $ | 93.2 |  |

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|   |   | 10 |

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|                                                              |
|--------------------------------------------------------------|
|                                                              |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                         | QTD |   | YTD |   |
|                                                         | Q4 2016 |   | Q4 2015 |   | Q4 2016 |   | Q4 2015 |   |
|                                                         | (In Millions, Except Per Share Data) |   |
| Adjusted EBITDA                                              | $ | 198.8 |  |   | $ | 191.5 |  |   | $ | 793.6 |  |   | $ | 682.5 |  |   |
| Interest expense and amortization of debt discounts and fees | (41.6 | ) |   | (44.6 | ) |   | (172.1 | ) |   | (142.9 | ) |   |
| Depreciation and amortization                                | (43.8 | ) |   | (41.4 | ) |   | (172.6 | ) |   | (139.7 | ) |   |
| Stock-based compensation expense                             | (10.0 | ) |   | (4.4 | ) |   | (27.4 | ) |   | (26.2 | ) |   |
| Noncash gain (loss) on disposal or impairment of assets      | 1.3 |  |   | (2.4 | ) |   | (0.7 | ) |   | (2.6 | ) |   |
|                                                         | 104.7 |  |   | 98.7 |  |   | 420.8 |  |   | 371.1 |  |   |
| Certain items non-indicative of ongoing operations:          |   |   |   |   |   |   |   |   |
| Government, class action, and related settlements            | — |  |   | 0.5 |  |   | — |  |   | (7.5 | ) |   |
| Professional fees—accounting, tax, and legal           | — |  |   | (0.3 | ) |   | (1.9 | ) |   | (3.0 | ) |   |
| Loss on early extinguishment of debt                         | — |  |   | (2.4 | ) |   | (7.4 | ) |   | (22.4 | ) |   |
| Transaction costs                                            | — |  |   | (6.7 | ) |   | — |  |   | (12.3 | ) |   |
| Pre-tax income                                               | 104.7 |  |   | 89.8 |  |   | 411.5 |  |   | 325.9 |  |   |
| Income tax expense (1)                                       | (39.7 | ) |   | (43.5 | ) | (2)  | (163.9 | ) |   | (141.9 | ) | (2)  |
| Income from continuing operations (3)                        | $ | 65.0 |  |   | $ | 46.3 |  |   | $ | 247.6 |  |   | $ | 184.0 |  |   |
|                                                         |   |   |   |   |   |   |   |   |
| Basic shares                                                 | 88.6 |  |   | 90.1 |  |   | 89.1 |  |   | 89.4 |  |   |
| Diluted shares                                               | 99.2 |  |   | 100.6 |  |   | 99.5 |  |   | 101.0 |  |   |
|                                                         |   |   |   |   |   |   |   |   |
| Basic earnings per share (3)                                 | $ | 0.73 |  |   | $ | 0.51 |  |   | $ | 2.77 |  |   | $ | 2.03 |  |   |
| Diluted earnings per share (3)                               | $ | 0.68 |  |   | $ | 0.48 |  |   | $ | 2.59 |  |   | $ | 1.92 |  |   |

|           |                                                                                                                                                                                                                                                                                                  |
|-----------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1)  | Current income tax expense for the three months ended December 31, 2016 and 2015 was $17.4 million and $4.4 million, respectively. Current income tax expense for the year ended December 31, 2016 and 2015 was $31.0 million and $14.8 million, respectively. |

|           |                                                                                                                                                                                   |
|-----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2)  | The Company's effective income tax rate was higher than the statutory rate due to an increase in the Company's valuation allowance related to certain state net operating losses. |

|           |                                                                |
|-----------|----------------------------------------------------------------|
| (3)  | Income from continuing operations attributable to HealthSouth. |

|        |
|--------|
|        |  |  |
|   |   | 11 |

----

|                                                          |
|----------------------------------------------------------|
|                                                          |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                     | Q4 |   | Full Year |
|                                                     | 2016 |   | 2015 |   | 2016 |   | 2015 |
|                                                     |   |   |   |   |   |   |   |
| Earnings per share, as reported                          | $ | 0.68 |  |   | $ | 0.48 |  |   | $ | 2.59 |  |   | $ | 1.92 |  |
| Adjustments, net of tax:                                 |   |   |   |   |   |   |   |
| Government, class action, and related settlements        | — |  |   | — |  |   | — |  |   | 0.04 |  |
| Professional fees — accounting, tax, and legal     | — |  |   | — |  |   | 0.01 |  |   | 0.02 |  |
| Mark-to-market adjustments for stock appreciation rights | 0.02 |  |   | — |  |   | 0.01 |  |   | 0.01 |  |
| Income tax valuation allowance and other tax adjustments | (0.01 | ) |   | 0.05 |  |   | (0.01 | ) |   | 0.05 |  |
| Transaction costs                                        | — |  |   | 0.05 |  |   | — |  |   | 0.08 |  |
| Loss on early extinguishment of debt                     | — |  |   | 0.01 |  |   | 0.04 |  |   | 0.13 |  |
| Sale of home health pediatric assets and hospital        | 0.03 |  |   | — |  |   | 0.02 |  |   | — |  |
| Adjusted earnings per share*                             | $ | 0.72 |  |   | $ | 0.59 |  |   | $ | 2.67 |  |   | $ | 2.24 |  |

|   |                                           |
|---|-------------------------------------------|
| * | Adjusted EPS may not sum due to rounding. |

|        |
|--------|
|        |  |  |
|   |   | 12 |

----

|                                                               |
|---------------------------------------------------------------|
|                                                               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                          | For the Three Months Ended December 31, 2016 |
|                                                          |   |   | Adjustments |   |   |
|                                                          | As Reported |   | Mark-to-Market Adjustment for Stock Appreciation Rights |   | Sale of Pediatric Home Health Assets and Hospital |   | Income Tax Valuation and Other Adjustments |   | As Adjusted |
|                                                          | (In Millions, Except Per Share Amounts) |
| Adjusted EBITDA*                                              | $ | 198.8 |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | 198.8 |  |
| Depreciation and amortization                                 | (43.8 | ) |   | — |  |   | — |  |   | — |  |   | (43.8 | ) |
| Interest expense and amortization of debt discounts and fees  | (41.6 | ) |   | — |  |   | — |  |   | — |  |   | (41.6 | ) |
| Stock-based compensation                                      | (10.0 | ) |   | 3.0 |  |   | — |  |   | — |  |   | (7.0 | ) |
| Loss on disposal or impairment of assets                      | 1.3 |  |   | — |  |   | (3.3 | ) |   | — |  |   | (2.0 | ) |
| Income from continuing operations before income tax expense   | 104.7 |  |   | 3.0 |  |   | (3.3 | ) |   | — |  |   | 104.4 |  |
| Provision for income tax expense                              | (39.7 | ) |   | (1.1 | ) |   | 6.1 |  |   | (0.6 | ) |   | (35.3 | ) |
| Income from continuing operations attributable to HealthSouth | $ | 65.0 |  |   | $ | 1.9 |  |   | $ | 2.8 |  |   | $ | (0.6 | ) |   | $ | 69.1 |  |
| Add: Interest on convertible debt, net of tax                 | 2.5 |  |   |   |   |   |   |   |   | 2.5 |  |
| Numerator for diluted earnings per share                      | $ | 67.5 |  |   |   |   |   |   |   |   | $ | 71.6 |  |
|                                                          |   |   |   |   |   |   |   |   |   |
| Diluted earnings per share from continuing operations**       | $ | 0.68 |  |   | $ | 0.02 |  |   | $ | 0.03 |  |   | $ | (0.01 | ) |   | $ | 0.72 |  |
| Diluted shares used in calculation                            | 99.2 |  |   |   |   |   |   |   |   |   |

|   |                                            |
|---|--------------------------------------------|
| * | Reconciliation to GAAP provided on page 17 |

|    |                                                  |
|----|--------------------------------------------------|
| ** | Adjusted EPS may not sum across due to rounding. |

|        |
|--------|
|        |  |  |
|   |   | 13 |

----

|                                                               |
|---------------------------------------------------------------|
|                                                               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                          | For the Three Months Ended December 31, 2015 |
|                                                          |   |   | Adjustments |   |   |
|                                                          | As Reported |   | Gov't, Class Action, & Related Settlements |   | Prof. Fees - Acct., Tax, & Legal |   | Income Tax Valuation Allowance & Other Adj. |   | Transaction Costs |   | Loss on Early Exting. of Debt |   | As Adjusted |
|                                                          | (In Millions, Except Per Share Amounts) |
| Adjusted EBITDA*                                              | $ | 191.5 |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | 191.5 |  |
| Depreciation and amortization                                 | (41.4 | ) |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | (41.4 | ) |
| Government, class action, and related settlements             | 0.5 |  |   | (0.5 | ) |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |
| Professional fees - accounting, tax, and legal                | (0.3 | ) |   | — |  |   | 0.3 |  |   | — |  |   | — |  |   | — |  |   | — |  |
| Loss on early extinguishment of debt                          | (2.4 | ) |   | — |  |   | — |  |   | — |  |   | — |  |   | 2.4 |  |   | — |  |
| Interest expense and amortization of debt discounts and fees  | (44.6 | ) |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | (44.6 | ) |
| Stock-based compensation                                      | (4.4 | ) |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | (4.4 | ) |
| Loss on disposal or impairment of assets                      | (2.4 | ) |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | (2.4 | ) |
| Transaction costs                                             | (6.7 | ) |   | — |  |   | — |  |   | — |  |   | 6.7 |  |   | — |  |   | — |  |
| Income from continuing operations before income tax expense   | 89.8 |  |   | (0.5 | ) |   | 0.3 |  |   | — |  |   | 6.7 |  |   | 2.4 |  |   | 98.7 |  |
| Provision for income tax expense                              | (43.5 | ) |   | 0.2 |  |   | (0.1 | ) |   | 4.7 |  |   | (2.1 | ) |   | (1.0 | ) |   | (41.8 | ) |
| Income from continuing operations attributable to HealthSouth | $ | 46.3 |  |   | $ | (0.3 | ) |   | $ | 0.2 |  |   | $ | 4.7 |  |   | $ | 4.6 |  |   | $ | 1.4 |  |   | $ | 56.9 |  |
| Add: Interest on convertible debt, net of tax                 | 2.4 |  |   |   |   |   |   |   |   |   |   |   |   | 2.4 |  |
| Numerator for diluted earnings per share                      | $ | 48.7 |  |   |   |   |   |   |   |   |   |   |   |   | $ | 59.3 |  |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted earnings per share from continuing operations**       | $ | 0.48 |  |   | $ | — |  |   | $ | — |  |   | $ | 0.05 |  |   | $ | 0.05 |  |   | $ | 0.01 |  |   | $ | 0.59 |  |
| Diluted shares used in calculation                            | 100.6 |  |   |   |   |   |   |   |   |   |   |   |   |   |

|   |                                            |
|---|--------------------------------------------|
| * | Reconciliation to GAAP provided on page 17 |

|    |                                                  |
|----|--------------------------------------------------|
| ** | Adjusted EPS may not sum across due to rounding. |

|        |
|--------|
|        |  |  |
|   |   | 14 |

----

|                                                               |
|---------------------------------------------------------------|
|                                                               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                          | For the Year Ended December 31, 2016 |
|                                                          |   |   | Adjustments |   |   |
|                                                          | As Reported |   | Prof. Fees - Acct., Tax, & Legal |   | Mark-to-Market Adjustment for Stock Appreciation Rights |   | Loss on Early Exting. of Debt |   | Sale of Pediatric Home Health Assets and Hospital |   | Income Tax Valuation and Other Adjustments |   | As Adjusted |
|                                                          | (In Millions, Except Per Share Amounts) |
| Adjusted EBITDA*                                              | $ | 793.6 |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | 793.6 |  |
| Depreciation and amortization                                 | (172.6 | ) |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | (172.6 | ) |
| Professional fees - accounting, tax, and legal                | (1.9 | ) |   | 1.9 |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |
| Loss on early extinguishment of debt                          | (7.4 | ) |   | — |  |   | — |  |   | 7.4 |  |   | — |  |   | — |  |   | — |  |
| Interest expense and amortization of debt discounts and fees  | (172.1 | ) |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | (172.1 | ) |
| Stock-based compensation                                      | (27.4 | ) |   | — |  |   | 1.6 |  |   | — |  |   | — |  |   | — |  |   | (25.8 | ) |
| Loss on disposal or impairment of assets                      | (0.7 | ) |   | — |  |   | — |  |   | — |  |   | (4.2 | ) |   | — |  |   | (4.9 | ) |
| Income from continuing operations before income tax expense   | 411.5 |  |   | 1.9 |  |   | 1.6 |  |   | 7.4 |  |   | (4.2 | ) |   | — |  |   | 418.2 |  |
| Provision for income tax expense                              | (163.9 | ) |   | (0.8 | ) |   | (0.6 | ) |   | (3.0 | ) |   | 6.5 |  |   | (0.6 | ) |   | (162.4 | ) |
| Income from continuing operations attributable to HealthSouth | $ | 247.6 |  |   | $ | 1.1 |  |   | $ | 1.0 |  |   | $ | 4.4 |  |   | $ | 2.3 |  |   | $ | (0.6 | ) |   | $ | 255.8 |  |
| Add: Interest on convertible debt, net of tax                 | 9.7 |  |   |   |   |   |   |   |   |   |   |   |   | 9.7 |  |
| Numerator for diluted earnings per share                      | $ | 257.3 |  |   |   |   |   |   |   |   |   |   |   |   | $ | 265.5 |  |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted earnings per share from continuing operations**       | $ | 2.59 |  |   | $ | 0.01 |  |   | $ | 0.01 |  |   | $ | 0.04 |  |   | $ | 0.02 |  |   | $ | (0.01 | ) |   | $ | 2.67 |  |
| Diluted shares used in calculation                            | 99.5 |  |   |   |   |   |   |   |   |   |   |   |   |   |

|   |                                            |
|---|--------------------------------------------|
| * | Reconciliation to GAAP provided on page 17 |

|    |                                                  |
|----|--------------------------------------------------|
| ** | Adjusted EPS may not sum across due to rounding. |

|        |
|--------|
|        |  |  |
|   |   | 15 |

----

|                                                               |
|---------------------------------------------------------------|
|                                                               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                          | For the Year Ended December 31, 2015 |
|                                                          |   |   | Adjustments |   |   |
|                                                          | As Reported |   | Gov't, Class Action, & Related Settlements |   | Prof. Fees - Acct., Tax, & Legal |   | Income Tax Valuation Allowance & Other Adj. |   | Mark-to-Market Adjustment for Stock Appreciation Rights |   | Transaction Costs |   | Loss on Early Exting. of Debt |   | As Adjusted |
|                                                          | (In Millions, Except Per Share Amounts) |
| Adjusted EBITDA*                                              | $ | 682.5 |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | 682.5 |  |
| Depreciation and amortization                                 | (139.7 | ) |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | (139.7 | ) |
| Government, class action, and related settlements             | (7.5 | ) |   | 7.5 |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |
| Professional fees - accounting, tax, and legal                | (3.0 | ) |   | — |  |   | 3.0 |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |
| Loss on early extinguishment of debt                          | (22.4 | ) |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | 22.4 |  |   | — |  |
| Interest expense and amortization of debt discounts and fees  | (142.9 | ) |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | (142.9 | ) |
| Stock-based compensation                                      | (26.2 | ) |   | — |  |   | — |  |   | — |  |   | 1.2 |  |   | — |  |   | — |  |   | (25.0 | ) |
| Loss on disposal or impairment of assets                      | (2.6 | ) |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | (2.6 | ) |
| Transaction costs                                             | (12.3 | ) |   | — |  |   | — |  |   | — |  |   | — |  |   | 12.3 |  |   | — |  |   | — |  |
| Income from continuing operations before income tax expense   | 325.9 |  |   | 7.5 |  |   | 3.0 |  |   | — |  |   | 1.2 |  |   | 12.3 |  |   | 22.4 |  |   | 372.3 |  |
| Provision for income tax expense                              | (141.9 | ) |   | (3.0 | ) |   | (1.2 | ) |   | 4.7 |  |   | (0.5 | ) |   | (4.1 | ) |   | (9.0 | ) |   | (155.0 | ) |
| Income from continuing operations attributable to HealthSouth | $ | 184.0 |  |   | $ | 4.5 |  |   | $ | 1.8 |  |   | $ | 4.7 |  |   | $ | 0.7 |  |   | $ | 8.2 |  |   | $ | 13.4 |  |   | $ | 217.3 |  |
| Add: Interest on convertible debt, net of tax                 | 9.4 |  |   |   |   |   |   |   |   |   |   |   |   |   |   | 9.4 |  |
| Numerator for diluted earnings per share                      | $ | 193.4 |  |   |   |   |   |   |   |   |   |   |   |   |   |   | $ | 226.7 |  |
|                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Diluted earnings per share from continuing operations**       | $ | 1.92 |  |   | $ | 0.04 |  |   | $ | 0.02 |  |   | $ | 0.05 |  |   | $ | 0.01 |  |   | $ | 0.08 |  |   | $ | 0.13 |  |   | $ | 2.24 |  |
| Diluted shares used in calculation                            | 101.0 |  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

|   |                                            |
|---|--------------------------------------------|
| * | Reconciliation to GAAP provided on page 17 |

|    |                                                  |
|----|--------------------------------------------------|
| ** | Adjusted EPS may not sum across due to rounding. |

|        |
|--------|
|        |  |  |
|   |   | 16 |

----

|                                                                                     |
|-------------------------------------------------------------------------------------|
|                                                                                     |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                | For the Three Months Ended December 31, |   | For the Year Ended December 31, |
|                                                                                | 2016 |   | 2015 |   | 2016 |   | 2015 |
|                                                                                | (In Millions) |
| Net income                                                                          | $ | 82.1 |  |   | $ | 65.8 |  |   | $ | 318.1 |  |   | $ | 252.8 |  |
| (Income) loss from discontinued operations, net of tax, attributable to HealthSouth | (0.3 | ) |   | (0.7 | ) |   | — |  |   | 0.9 |  |
| Provision for income tax expense                                                    | 39.7 |  |   | 43.5 |  |   | 163.9 |  |   | 141.9 |  |
| Interest expense and amortization of debt discounts and fees                        | 41.6 |  |   | 44.6 |  |   | 172.1 |  |   | 142.9 |  |
| Professional fees—accounting, tax, and legal                                  | — |  |   | 0.3 |  |   | 1.9 |  |   | 3.0 |  |
| Government, class action, and related settlements                                   | — |  |   | (0.5 | ) |   | — |  |   | 7.5 |  |
| Loss on early extinguishment of debt                                                | — |  |   | 2.4 |  |   | 7.4 |  |   | 22.4 |  |
| Net noncash (gain) loss on disposal or impairment of assets                         | (1.3 | ) |   | 2.4 |  |   | 0.7 |  |   | 2.6 |  |
| Depreciation and amortization                                                       | 43.8 |  |   | 41.4 |  |   | 172.6 |  |   | 139.7 |  |
| Stock-based compensation expense                                                    | 10.0 |  |   | 4.4 |  |   | 27.4 |  |   | 26.2 |  |
| Net income attributable to noncontrolling interests                                 | (16.8 | ) |   | (18.8 | ) |   | (70.5 | ) |   | (69.7 | ) |
| Transaction costs                                                                   | — |  |   | 6.7 |  |   | — |  |   | 12.3 |  |
| Adjusted EBITDA                                                                     | $ | 198.8 |  |   | $ | 191.5 |  |   | $ | 793.6 |  |   | $ | 682.5 |  |

|                                                              |
|--------------------------------------------------------------|
|                                                              |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                         | For the Three Months Ended December 31, |   | For the Year Ended December 31, |
|                                                         | 2016 |   | 2015 |   | 2016 |   | 2015 |
|                                                         | In Millions |
| Total segment Adjusted EBITDA                                | $ | 225.6 |  |   | $ | 216.4 |  |   | $ | 899.6 |  |   | $ | 774.1 |  |
| General and administrative expenses                          | (36.8 | ) |   | (36.0 | ) |   | (133.4 | ) |   | (133.3 | ) |
| Depreciation and amortization                                | (43.8 | ) |   | (41.4 | ) |   | (172.6 | ) |   | (139.7 | ) |
| Gain (loss) on disposal or impairment of assets              | 1.3 |  |   | (2.4 | ) |   | (0.7 | ) |   | (2.6 | ) |
| Government, class action, and related settlements            | — |  |   | 0.5 |  |   | — |  |   | (7.5 | ) |
| Professional fees — accounting, tax, and legal         | — |  |   | (0.3 | ) |   | (1.9 | ) |   | (3.0 | ) |
| Loss on early extinguishment of debt                         | — |  |   | (2.4 | ) |   | (7.4 | ) |   | (22.4 | ) |
| Interest expense and amortization of debt discounts and fees | (41.6 | ) |   | (44.6 | ) |   | (172.1 | ) |   | (142.9 | ) |
| Net income attributable to noncontrolling interests          | 16.8 |  |   | 18.8 |  |   | 70.5 |  |   | 69.7 |  |
| Gain related to SCA equity interest                          | — |  |   | — |  |   | — |  |   | 3.2 |  |
| Income from continuing operations before income tax expense  | $ | 121.5 |  |   | $ | 108.6 |  |   | $ | 482.0 |  |   | $ | 395.6 |  |

|        |
|--------|
|        |  |  |
|   |   | 17 |

----

|                                                                              |
|------------------------------------------------------------------------------|
|                                                                              |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                         | For the Three Months Ended December 31, |   | For the Year Ended December 31, |
|                                                                         |   |
|                                                                         | 2016 |   | 2015 |   | 2016 |   | 2015 |
|                                                                         | (In Millions) |
| Net cash provided by operating activities                                    | $ | 116.0 |  |   | $ | 116.6 |  |   | $ | 605.5 |  |   | $ | 484.8 |  |
| Provision for doubtful accounts                                              | (14.5 | ) |   | (14.0 | ) |   | (61.2 | ) |   | (47.2 | ) |
| Professional fees—accounting, tax, and legal                           | — |  |   | 0.3 |  |   | 1.9 |  |   | 3.0 |  |
| Interest expense and amortization of debt discounts and fees                 | 41.6 |  |   | 44.6 |  |   | 172.1 |  |   | 142.9 |  |
| Equity in net income of nonconsolidated affiliates                           | 2.5 |  |   | 2.4 |  |   | 9.8 |  |   | 8.7 |  |
| Net income attributable to noncontrolling interests in continuing operations | (16.8 | ) |   | (18.8 | ) |   | (70.5 | ) |   | (69.7 | ) |
| Amortization of debt-related items                                           | (3.5 | ) |   | (3.4 | ) |   | (13.8 | ) |   | (14.3 | ) |
| Distributions from nonconsolidated affiliates                                | (2.6 | ) |   | (3.2 | ) |   | (8.5 | ) |   | (7.7 | ) |
| Current portion of income tax expense                                        | 17.4 |  |   | 4.4 |  |   | 31.0 |  |   | 14.8 |  |
| Change in assets and liabilities                                             | 41.3 |  |   | 53.6 |  |   | 102.9 |  |   | 147.1 |  |
| Net premium paid on bond transactions                                        | — |  |   | 1.9 |  |   | 5.8 |  |   | 3.9 |  |
| Windfall tax benefits from share-based compensation                          | 17.3 |  |   | — |  |   | 17.3 |  |   | — |  |
| Cash used in (provided by) operating activities of discontinued operations   | 0.1 |  |   | (0.1 | ) |   | 0.7 |  |   | 0.7 |  |
| Transaction costs                                                            | — |  |   | 6.7 |  |   | — |  |   | 12.3 |  |
| Other                                                                        | — |  |   | 0.5 |  |   | 0.6 |  |   | 3.2 |  |
| Consolidated Adjusted EBITDA                                                 | $ | 198.8 |  |   | $ | 191.5 |  |   | $ | 793.6 |  |   | $ | 682.5 |  |

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|                                                                           |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                      | For the Three Months Ended December 31, |   | For the Year Ended December 31, |
|                                                                      |   |
|                                                                      | 2016 |   | 2015 |   | 2016 |   | 2015 |
|                                                                      | (In Millions) |
| Net cash provided by operating activities                                 | $ | 116.0 |  |   | $ | 116.6 |  |   | $ | 605.5 |  |   | $ | 484.8 |  |
| Impact of discontinued operations                                         | 0.1 |  |   | (0.1 | ) |   | 0.7 |  |   | 0.7 |  |
| Net cash provided by operating activities of continuing operations        | 116.1 |  |   | 116.5 |  |   | 606.2 |  |   | 485.5 |  |
| Capital expenditures for maintenance                                      | (39.7 | ) |   | (27.1 | ) |   | (104.2 | ) |   | (83.1 | ) |
| Dividends paid on convertible perpetual preferred stock                   | — |  |   | — |  |   | — |  |   | (3.1 | ) |
| Distributions paid to noncontrolling interests of consolidated affiliates | (15.4 | ) |   | (14.8 | ) |   | (64.9 | ) |   | (54.4 | ) |
| Items non-indicative of ongoing operations:                               |   |   |   |   |   |   |   |
| Net premium on bond issuance/repayment                                    | — |  |   | 1.9 |  |   | 5.8 |  |   | 4.0 |  |
| Transaction costs and related assumed liabilities                         | — |  |   | 6.5 |  |   | 0.8 |  |   | 28.3 |  |
| Windfall tax benefits from share-based compensation                       | 17.3 |  |   | — |  |   | 17.3 |  |   | — |  |
| Cash paid for:                                                            |   |   |   |   |   |   |   |
| Professional fees—accounting, tax, and legal                        | — |  |   | 0.3 |  |   | 1.9 |  |   | 4.1 |  |
| Government, class action, and related settlements                         | — |  |   | (0.3 | ) |   | — |  |   | 7.7 |  |
| Adjusted free cash flow                                                   | $ | 78.3 |  |   | $ | 83.0 |  |   | $ | 462.9 |  |   | $ | 389.0 |  |

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