# EDGAR Filing Document

**Accession Number:** 0001577916
**File Stem:** 0001193125-25-184154
**Filing Date:** 2025-8
**Character Count:** 144346
**Document Hash:** 9c9ffc044a3cbb85e70b0d02c889a322
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-184154.hdr.sgml**: 20250820

**ACCESSION NUMBER**: 0001193125-25-184154

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 35

**CONFORMED PERIOD OF REPORT**: 20250817

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250820

**DATE AS OF CHANGE**: 20250820

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Premier, Inc.
- **CENTRAL INDEX KEY:** 0001577916
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-MANAGEMENT SERVICES [8741]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 000000000
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-36092
- **FILM NUMBER:** 251237476

**BUSINESS ADDRESS:**
- **STREET 1:** 13034 BALLANTYNE CORPORATE PLACE
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28277
- **BUSINESS PHONE:** 704-357-0022

**MAIL ADDRESS:**
- **STREET 1:** 13034 BALLANTYNE CORPORATE PLACE
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28277

?xml version='1.0' encoding='ASCII'? 8-K

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### WASHINGTON, D.C. 20549

### FORM 8-K

#### CURRENT REPORT

#### Pursuant to Section 13 or 15(d)

#### of the Securities Exchange Act of 1934

#### Date of Report (Date of Earliest Event Reported): August 17, 2025

## Premier, Inc.

#### (Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-36092** | **35-2477140** |
| **(State or other jurisdiction**<br>**of incorporation)** | **(Commission**<br>**File Number)** | **(I.R.S. Employer**<br>**Identification No.)** |

---

#### 13520 Ballantyne Corporate Place

#### Charlotte, NC 28277

#### (Address of principal executive offices) (Zip Code)
(704) 357-0022

#### (Registrant's telephone number, including area code)

#### 13034 Ballantyne Corporate Place

#### Charlotte, NC 28277

#### (Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading**<br>**Symbol** | **Name of each exchange**<br>**on which registered** |
| Class A Common Stock, $0.01 Par Value | PINC | NASDAQ Global Select Market |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

---

| | |
|:---|:---|
| **Item 2.02.** | **Results of Operations and Financial Condition** |

---

On August 19, 2025, Premier, Inc. (the "<u>Company</u>") issued a press release reporting the financial results of the Company for the three months and fiscal year ended June 30, 2025. A copy of the press release is attached to this report as Exhibit 99.1 and is incorporated herein by reference.

As discussed in the press release, the Company held a conference call and webcast on August 19, 2025. Supplemental slides referenced during the conference call and webcast were available on the Company's website for viewing by participants. A transcript of the conference call and webcast together with the supplemental slides are attached as Exhibits 99.2 and 99.3, respectively, to this report and are incorporated herein by reference.

---

| | |
|:---|:---|
| **Item 5.02.** | **Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers** |

---

The following changes have been made to the executive compensation packages for certain of the Company's named executive officers for the Company's 2026 fiscal year:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **NEO** | **Compensation Element** | **Fiscal 2025** | **Fiscal 2026** | **Percentage Increase** |
| Andrew F. Brailo | Annual Base Salary | $560000 | $575000 | 2.7% |
| Chief Commercial Officer | Equity Target\* | 180% | 225% | 25.0% |
| David L. Klatsky | Annual Base Salary | $535343 | $550000 | 2.7% |
| General Counsel | Equity Target\* | 200% | 225% | 12.5% |

---

\* Expressed as a percentage of annual base salary.

The compensation changes for Mr. Brailo and Mr. Klatsky were approved by the Compensation Committee (the "<u>Committee</u>") of the Company's Board of Directors (the "<u>Board</u>") on August 17, 2025. The changes to annual base salaries are effective September 1, 2025, and the revised Equity Targets are effective immediately for equity awards to be granted for the Company's 2026 fiscal year.

The Committee and the Board determined it would be in the best interests of the Company and its stockholders to make the compensation changes set forth above to promote retention and recognize and incentivize the continued performance and value to the Company of these executives. The Committee and the Board made these determinations with the assistance of the Committee's independent compensation consultant and considered, among other factors, the highly competitive nature of the market for executive talent, the potential impacts on the Company and its operations and strategic plans in the event of the loss of any of these executives, the existing compensation packages for these executives, and peer company and other market information.

---

| | |
|:---|:---|
| **Item 7.01.** | **Regulation FD Disclosure** |

---

As noted in Item 2.02 of this report, the Company held a conference call and webcast on August 19, 2025, to discuss the Company's financial results for the three months and fiscal year ended June 30, 2025, as reported in the Company's August 19, 2025 press release. A copy of the press release, which contains additional information regarding how to access the conference call and webcast and how to listen to a recorded playback, is attached as Exhibit 99.1 to this report and is incorporated herein by reference. A transcript of the conference call and webcast together with supplemental slides referenced during the conference call and webcast are attached as Exhibits 99.2 and 99.3, respectively, to this report and are incorporated herein by reference.

\* \* \* \*

The information in this report under Items 2.02 and 7.01, including Exhibits 99.1, 99.2 and 99.3, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "<u>Exchange Act</u>"), or otherwise subject to the liabilities of that section, or incorporated by reference in any filing by the Company under the Securities Act of 1933, as amended, or the Exchange Act except as shall be expressly set forth by specific reference in such a filing.

------

---

| | |
|:---|:---|
| **Item 9.01.** | **Financial Statements and Exhibits** |

---

(d) Exhibits

---

| | |
|:---|:---|
| **Exhibit<br>No.** | **Description** |
| 99.1 | [Press release of Premier, Inc. dated August 19, 2025.](d10282dex991.htm) |
| 99.2 | [Transcript of fiscal 2025 fourth quarter and full year earnings call of Premier, Inc.](d10282dex992.htm) |
| 99.3 | [Supplemental slides referenced during fiscal 2025 fourth quarter and full year earnings call of Premier, Inc.](d10282dex993.htm) |
| 104 | Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document). |

---

------

#### SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
| Premier, Inc. | Premier, Inc. |
| By: | /s/ Michael J. Alkire |
|  | Name: Michael J. Alkire |
|  | Title: President and Chief Executive Officer |

---

Date: August 20, 2025

## Exhibit 99.1

**Exhibit 99.1**![LOGO](g10282g56j86.jpg)

**Premier, Inc. Reports Fiscal-Year 2025 Fourth-Quarter and Full-Year Financial Results** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Fourth-quarter total net revenue of $262.9 million was better than the company expected (total net revenue excluding Contigo Health\* of $258.0 million)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Fourth-quarter GAAP net income from continuing operations of $18.0 million, or $0.22 per fully diluted share** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Fourth-quarter adjusted EPS of $0.46, excluding Contigo Health\* contributed to full-year adjusted EPS that was above the high end of the company's guidance range** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Full-year net cash provided by operating activities from continuing operations of $417.8 million and free cash flow\* of $180.5 million; both were better than the company anticipated** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Providing fiscal-year 2026 financial guidance** 

CHARLOTTE, N.C., August 19, 2025 - Premier, Inc. (NASDAQ: PINC), a leading technology-driven healthcare improvement company, today reported financial results for the fiscal-year 2025 fourth quarter and full year ended June 30, 2025.

Fiscal-year 2025 fourth quarter total net revenue of $262.9 million decreased 12% from the prior-year period; however, increased 1% on a sequential basis from the fiscal-year 2025 third quarter. Net income from continuing operations of $18.0 million, or $0.22 per share, in the fiscal-year 2025 fourth quarter compared to $60.9 million, or $0.57 per share, in the prior-year period. Adjusted EBITDA\* of $68.9 million in the fiscal-year 2025 fourth quarter decreased 34% from the prior-year period and decreased 4% on a sequential basis from the fiscal-year 2025 third quarter. Adjusted EPS\* of $0.43 in the fiscal-year 2025 fourth quarter decreased 30% from the prior-year period and decreased 2% on a sequential basis from the fiscal-year 2025 third quarter.

"I'm pleased to report that we had a strong finish to the year despite the contract renewal headwinds, which are now mostly behind us. Our overall revenue and profitability for the year exceeded our expectations largely due to better-than-anticipated results in our Supply Chain Services segment," said Michael J. Alkire, Premier's President and CEO. "In addition, we continued to return meaningful capital to stockholders through our quarterly cash dividend and the completion of a $200 million accelerated share repurchase program."

*On October 1, 2024, the company announced that it had divested the S2S Global direct sourcing business. As such, and unless stated otherwise, all results presented in the following release reflect those of continuing operations. In addition, as the company's efforts to transfer to partners or wind down certain components of the Contigo Health business remain ongoing, results presented in this release continue to include contributions from that business. However, because of the expected transition and/or wind-down, the company is providing certain financial measures that exclude contributions from this business, and tables are included at the end of this release that reconcile the impact of the Contigo Health business on certain financial measures in the periods presented.* 

------

**Consolidated Financial Highlights of Continuing Operations** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended June 30,** | **Three Months Ended June 30,** | **Three Months Ended June 30,** | **Year Ended June 30,** | **Year Ended June 30,** | **Year Ended June 30,** |
| *(in thousands, except per share data)* | **2025** | **2024** | **% Change** | **2025** | **2024** | **% Change** |
|  **Net revenue:** |  |  |  |  |  |  |
|  Supply Chain Services: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net administrative fees | $150052 | $166146 | (10%) | $556328 | $624168 | (11%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Software licenses, other services and support | 19948 | 18262 | 9% | 74711 | 65200 | 15% |
|  **Total Supply Chain Services** | **170000** | **184408** | **(8%)** | **631039** | **689368** | **(8%)** |
|  **Performance Services** | **92857** | **115838** | **(20%)** | **381608** | **446641** | **(15%)** |
|  **Performance Services excluding Contigo Health** | **87972** | **107253** | **(18%)** | **354914** | **406795** | **(13%)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net revenue** | $**262857** | $**300246** | **(12%)** | $**1012647** | $**1136009** | **(11%)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net revenue excluding Contigo Health\*** | $**257972** | $**291661** | **(12%)** | $**985953** | $**1096163** | **(10%)** |
|  Net income from continuing operations | $18018 | $60861 | (70%) | $72734 | $104219 | (30%) |
|  Net income from continuing operations attributable to stockholders | $18572 | $60932 | (70%) | $62170 | $117044 | (47%) |
|  Diluted earnings per share from continuing operations attributable to stockholders | $0.22 | $0.57 | (61%) | $0.68 | $1.02 | (33%) |

---

**Consolidated Non-GAAP Financial Highlights of Continuing Operations\*** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended June 30,** | **Three Months Ended June 30,** | **Three Months Ended June 30,** | **Year Ended June 30,** | **Year Ended June 30,** | **Year Ended June 30,** |
| *(in thousands, except per share data)* | **2025** | **2024** | **% Change** | **2025** | **2024** | **% Change** |
|  **Adjusted EBITDA:** |  |  |  |  |  |  |
|  Supply Chain Services | $89986 | $109617 | (18%) | $326902 | $409669 | (20%) |
|  Performance Services | 17170 | 32820 | (48%) | 60692 | 113845 | (47%) |
|  Total segment adjusted EBITDA | 107156 | 142437 | (25%) | 387594 | 523514 | (26%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate | (38300) | (38424) | — % | (134474) | (134529) | — % |
|  **Adjusted EBITDA** | $**68856** | $**104013** | **(34%)** | $**253120** | $**388985** | **(35%)** |
|  **Adjusted EBITDA excluding Contigo Health** | $**71108** | $**106045** | **(33%)** | $**260435** | $**396191** | **(34%)** |
|  Adjusted net income | $35743 | $64482 | (45%) | $133752 | $237846 | (44%) |
|  **Adjusted EPS** | $**0.43** | $**0.61** | **(30%)** | $**1.46** | $**2.08** | **(30%)** |
|  **Adjusted EPS excluding Contigo Health** | $**0.46** | $**0.64** | **(28%)** | $**1.54** | $**2.17** | **(29%)** |

---

\* These are non-GAAP financial measures. Refer to "Premier's Use and Definitions of Non-GAAP Measures" below and the supplemental financial information at the end of this release for information on the company's use of non-GAAP measures and a reconciliation of reported GAAP results to non-GAAP results. 

------

**Fiscal-Year 2026 Guidance** 

*Certain statements in this release, including without limitation, those in this section, are forward-looking statements. For additional information regarding the use and limitations of such statements, refer to "Cautionary Note Regarding Forward-Looking Statements" below.* 

Based on its current outlook and the realization of the assumptions outlined below, the company expects the following:

---

| | |
|:---|:---|
| **Guidance Metric** | **Fiscal-Year 2026**<br> **Guidance Range <sup>[1] [2]</sup>**<br> **(as of August 19, 2025)** |
|  Segment Net Revenue: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Supply Chain Services | $590 million to $620 million |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Performance Services Excluding Contigo Health | $350 million to $380 million |
|  Total Net Revenue Excluding Contigo Health | $940 million to $1 billion |
|  Adjusted EBITDA | $230 million to $245 million |
|  Adjusted Net Income | $110 million to $120 million |
|  Adjusted EPS | $1.33 to $1.43 |
|  Diluted Weighted Average Shares | 81 million to 83 million |

---

Fiscal-year 2026 guidance is based on the realization of the following key assumptions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net administrative fees revenue of $520 million to $540 million, which includes $65 million to
$75 million in revenue related to non-healthcare member purchasing

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Supply Chain Services segment software licenses, other services and support revenue of $70 million to
$80 million

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Capital expenditures of approximately $80 million

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Effective income tax rate in the range of 23% to 25%

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Cash income tax rate of less than 5%

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Free cash flow<sup>[1][2]</sup> conversion of 70% to 80% of adjusted
EBITDA<sup>[1][2]</sup>

---

| | |
|:---|:---|
| [1] | Adjusted EBITDA, adjusted net income, adjusted EPS and free cash flow presented in this financial guidance are forward-looking non-GAAP measures. Refer to "Premier's Use and Definitions of Non-GAAP Measures" below for information on the company's use of non-GAAP measures. The company does not provide forward-looking guidance on a GAAP basis as certain financial information, the probable significance of which cannot be determined, is not available and cannot be reasonably estimated. Total Net Revenue Excluding Contigo Health is also a forward-looking non-GAAP measure. Refer to "Premier's Use of Forward-Looking Non-GAAP Measures" below for additional explanation.  |

---

[2] As a result of the company's expectation that the remaining operations of Contigo Health will be substantially, if not entirely, transitioned to partners or wound down by December 31, 2025, guidance is being presented excluding financial contributions from this business.

**Results of Operations for the Three Months Ended June 30, 2025** 

*(As compared with the three months ended June 30, 2024)* 

GAAP net revenue of $262.9 million decreased 12% from $300.2 million in the prior-year period. Refer to the "Supply Chain Services" and "Performance Services" sections below for discussion on the factors that impacted net revenue during the quarter.

GAAP net income from continuing operations of $18.0 million decreased by $42.8 million from $60.9 million in the prior-year period primarily due to lower net revenue and an increase in operating expenses related to stock-based compensation expense and current period asset impairments.

GAAP diluted EPS from continuing operations of $0.22 decreased by $0.35 from $0.57 in the prior-year period due to the aforementioned drivers affecting GAAP net income from continuing operations, partially offset by a decrease in the diluted weighted average shares outstanding as a result of share repurchases under the company's $1 billion share repurchase authorization announced in February 2024 ("Share Repurchase Authorization"), further discussed below under "Return of Capital to Stockholders".

Adjusted EBITDA of $68.9 million decreased 34% from $104.0 million in the prior-year period. Refer to the "Supply Chain Services" and "Performance Services" sections below for discussion on the factors that impacted the Adjusted EBITDA during the quarter.

Adjusted net income of $35.7 million decreased 45% from $64.5 million in the prior-year period primarily as a result of the same factors that impacted adjusted EBITDA and an increase in interest expense due to higher borrowings on the company's revolving credit facility, partially offset by a decrease in the effective income tax rate in the current-year period. Adjusted EPS of $0.43 decreased 30% from $0.61 in the prior-year period.

------

**Segment Results** 

*(For the fiscal fourth quarter of 2025 as compared with the fiscal fourth quarter of 2024)* 

***Supply Chain Services***

Supply Chain Services segment net revenue of $170.0 million decreased 8% from $184.4 million in the prior-year period largely due to lower net administrative fees revenue.

Net administrative fees revenue of $150.1 million decreased 10% from $166.1 million in the prior-year period, primarily driven by the expected increase in the aggregate blended member fee share, partially offset by continued growth in member purchasing as a result of increased utilization of contracts with existing members and from the recruitment and onboarding of new members.

Software licenses, other services and support revenue of $19.9 million increased 9% from $18.3 million in the prior-year period mainly driven by continued growth from new engagements in the supply chain co-management business and further expansion of the company's digital supply chain solutions to providers and suppliers.

Segment adjusted EBITDA of $90.0 million decreased 18% from $109.6 million in the prior-year period largely due to the decrease in net administrative fees revenue and additional investments in the supply chain co-management business to support ongoing growth.

***Performance Services***

Performance Services segment net revenue of $92.9 million decreased 20% from $115.8 million in the prior-year period primarily due to lower revenue in the consulting business as well as the timing of license revenue.

Segment adjusted EBITDA of $17.2 million decreased 48% from $32.8 million in the prior-year period mainly due to the decrease in revenue partially offset by a decrease in employee-related costs.

**Liquidity and Cash Flows** 

As of June 30, 2025, cash and cash equivalents were $83.7 million compared with $125.1 million as of June 30, 2024, and the company's five-year, $1.0 billion revolving credit facility ("Credit Facility") had an outstanding balance of $280.0 million.

Net cash provided by operating activities from continuing operations ("operating cash flow") for the year ended June 30, 2025 of $417.8 million increased from $278.1 million in the prior year mainly due to cash taxes paid in the prior year on proceeds received from the sale the company's non-healthcare GPO operations, cash received in the current year from a derivative lawsuit settlement of $57.0 million and a $17.6 million cash distribution received in the current year from a minority investment.

Net cash used in investing activities for the year ended June 30, 2025 of $102.1 million increased from $68.5 million in the prior year due to the business acquisition of IllumiCare, Inc. partially offset by net cash received from the sale of certain assets and liabilities including Contigo Health's wrap network.

Net cash used in financing activities for the year ended June 30, 2025 of $340.7 million increased from $192.7 million in the prior year due to the timing of net cash proceeds received from the sale of the company's non-healthcare GPO operations largely received in the prior year. The change was offset by the current-year net borrowings and the prior-year repayment under the company's Credit Facility, as well as a decrease in cash dividends paid in the current year as a result of share repurchases.

Non-GAAP free cash flow for the year ended June 30, 2025 was $180.5 million compared with $228.0 million in the prior year. In addition to some of the factors that affected operating cash flow, the decrease was primarily due to the timing of cash payments to OMNIA related to our non-healthcare channel partnership agreement. Refer to "Premier's Use and Definitions of Non-GAAP Measures" below and the supplemental financial information at the end of this release for information on the company's use of this and other non-GAAP financial measures and a reconciliation of reported GAAP results to non-GAAP results.

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**Return of Capital to Stockholders** 

In February 2024, the company announced that its Board of Directors ("Board") approved the Share Repurchase Authorization. Pursuant to the Share Repurchase Authorization, which expired on June 30, 2025, the company has repurchased an aggregate of $800.0 million of its Common Stock, which includes the August 2025 completion of the $200.0 million accelerated share repurchase program announced in February 2025 (the "2025 ASR"). Additional details will be provided in Premier's Form 10-K for the year ended June 30, 2025, expected to be filed with the SEC shortly after the issuance of this release.

During fiscal-year 2025, the company paid aggregate dividends of $77.4 million to holders of its Common Stock. On August 17, 2025, the Board declared a quarterly cash dividend of $0.21 per share, payable on September 15, 2025 to stockholders of record on September 1, 2025.

**Conference Call and Webcast** 

Premier will host a conference call to provide additional detail around the company's performance and outlook today at 8:00 a.m. ET. The call will be webcast live from the company's website and, along with the accompanying presentation, will be available at the following link to the company's Events and Presentations page at https://investors.premierinc.com/overview/default.aspx: <u>Premier Events</u>. The webcast should be accessed 10 minutes prior to the conference call start time. A replay of the webcast will be available for one year following the conclusion of the live broadcast and will be accessible on the company's website under Events and Presentations at <u>https://investors.premierinc.com</u>/overview/default.aspx.

For those parties who do not have internet access, the conference call may be accessed by calling one of the below telephone numbers and asking to join the Premier, Inc. call:

Domestic participant dial-in number (toll-free): (833) 953-2438 <br> International participant dial-in number: (412) 317-5767

**About Premier, Inc.** 

Premier, Inc. (NASDAQ: PINC) is a leading technology-driven healthcare improvement company, providing solutions to two-thirds of all healthcare providers in the U.S. Playing a critical role in the rapidly evolving healthcare industry, Premier unites providers, suppliers and payers to make healthcare better with national scale, smarter with actionable intelligence and faster with novel technologies. Headquartered in Charlotte, N.C., Premier offers integrated data and analytics, collaboratives, supply chain solutions, consulting and other services in service of our mission to improve the health of communities. Please visit Premier's news and investor sites on <u>www.premierinc.com</u>, as well as <u>X</u>, <u>Facebook</u>, <u>LinkedIn</u>, <u>YouTube</u>, <u>Instagram</u> and <u>Premier's blog</u> for more information about the company.

**Premier's Use and Definitions of Non-GAAP Measures** 

Premier uses EBITDA, adjusted EBITDA, segment adjusted EBITDA, adjusted net income, adjusted earnings per share, and free cash flow. These are non-GAAP financial measures that are not in accordance with, or an alternative to, GAAP, and may be different from non-GAAP financial measures used by other companies. We include these non-GAAP financial measures to facilitate a comparison of the company's operating performance on a consistent basis from period to period and to provide measures that, when viewed in combination with its results prepared in accordance with GAAP, we believe allow for a more complete understanding of factors and trends affecting the company's business than GAAP measures alone.

Management believes EBITDA, adjusted EBITDA and segment adjusted EBITDA assist the company's board of directors, management and investors in comparing the company's operating performance on a consistent basis from period to period by removing the impact of the company's earnings elements attributable to the company's asset base (primarily depreciation and amortization), certain items outside the control of management, e.g., taxes, other non-cash items (such as impairment of intangible assets, purchase accounting adjustments and stock-based compensation), non-recurring items (such as strategic initiative and restructuring-related expenses) and income and expense that have been classified as discontinued operations from operating results.

Management believes adjusted net income and adjusted earnings per share assist the company's board of directors, management and investors in comparing our net income and earnings per share on a consistent basis from period to period because these measures remove non-cash items (such as impairment of intangible assets, purchase accounting adjustments and stock-based compensation) and non-recurring items (such as strategic initiative and restructuring-related expenses) and eliminate the variability of non-controlling interest and equity in net income of unconsolidated affiliates.

------

Management believes free cash flow is an important measure because it represents the cash that the company generates after payments to certain former limited partners that elected to execute a Unit Exchange and Tax Receivable Agreement ("Unit Exchange Agreement") in connection with our August 2020 restructuring, capital investment to maintain existing products and services and ongoing business operations, as well as development of new and upgraded products and services to support future growth and cash payments to OMNIA for the sale of future revenues and tax payments on proceeds received from the sale of future revenues. Free cash flow is important because it enables the company to seek enhancement of stockholder value through acquisitions, partnerships, joint ventures, investments in related or complementary businesses and/or debt reduction.

Also, adjusted EBITDA and free cash flow are supplemental financial measures used by the company and by external users of our financial statements and are considered to be indicators of the operational strength and performance of our business. Adjusted EBITDA and free cash flow measures allow us to assess our performance without regard to financing methods and capital structure and without the impact of other matters that we do not consider indicative of the operating performance of our business. More specifically, segment adjusted EBITDA is the primary earnings measure we use to evaluate the performance of our business segments.

**Non-recurring items** are income or expenses and other items that have not been earned or incurred within the prior two years and are not expected to recur within the next two years. Such items include acquisition- and disposition-related expenses, strategic initiative- and restructuring-related expenses, loss on disposal of long-lived assets, income and expense that has been classified as discontinued operations and other reconciling items.

**Non-cash items** include stock-based compensation expense and asset impairments.

**Non-operating items** include gains or losses on the disposal of assets, interest and investment income or expense, equity in net income of unconsolidated affiliates and operating income from revenues sold to OMNIA in connection with the sale of non-healthcare GPO member contracts, less royalty payments retained.

**EBITDA** is defined as net income before income or loss from discontinued operations, net of tax, interest and investment income or expense, net, income tax expense, depreciation and amortization and amortization of purchased intangible assets.

**Adjusted EBITDA** is defined as EBITDA before merger and acquisition-related expenses and non-recurring, non-cash or non-operating items.

**Segment adjusted EBITDA** is defined as the segment's net revenue less cost of revenue and operating expenses directly attributable to the segment excluding depreciation and amortization, amortization of purchased intangible assets, merger and acquisition-related expenses and non-recurring or non-cash items. Operating expenses directly attributable to the segment include expenses associated with sales and marketing, general and administrative, and product development activities specific to the operation of each segment. General and administrative corporate expenses that are not specific to a particular segment are not included in the calculation of segment adjusted EBITDA. Segment adjusted EBITDA also excludes any income and expense that has been classified as discontinued operations and operating income from revenues sold to OMNIA in connection with the sale of non-healthcare GPO member contracts, less royalty payments retained.

**Adjusted net income** is defined as net income attributable to Premier (i) excluding income or loss from discontinued operations, net, (ii) excluding income tax expense, (iii) excluding the effect of non-recurring or non-cash items, including certain strategic initiative- and restructuring-related expenses, (iv) reflecting an adjustment for income tax expense on Non-GAAP net income before income taxes at our estimated annual effective income tax rate, adjusted for unusual or infrequent items, (v) excluding the equity in net income of unconsolidated affiliates and (vi) excluding operating income from revenues sold to OMNIA in connection with the sale of non-healthcare GPO member contracts, less royalty fees retained, imputed interest expense and associated income tax expense.

**Adjusted earnings per share** is adjusted net income divided by diluted weighted average shares.

**Free cash flow** is defined as net cash provided by operating activities from continuing operations less (i) early termination payments to certain former limited partners that elected to execute a Unit Exchange Agreement in connection with our August 2020 restructuring, (ii) purchases of property and equipment and (iii) cash payments to OMNIA for the sale of future revenues and tax payments on proceeds received from the sale of future revenues. Free cash flow does not represent discretionary cash available for spending as it excludes certain contractual obligations such as debt repayments.

To properly and prudently evaluate our business, readers are urged to review the reconciliation of these non-GAAP financial measures, as well as the other financial tables, included at the end of this release. Readers should not rely on any single financial measure to evaluate the company's business. In addition, the non-GAAP financial measures used in this release are susceptible to varying calculations and may differ from, and may therefore not be comparable to, similarly titled measures used by other companies.

------

The Company has revised the definitions for adjusted EBITDA, segment adjusted EBITDA, adjusted net income and free cash flow from the definitions reported in the 2024 Annual Report. Adjusted EBITDA and segment adjusted EBITDA definitions were revised to exclude operating income from revenues sold to OMNIA in connection with the sale of non-healthcare GPO member contracts, less royalty fees retained. The adjusted net income definition was revised to exclude operating income from revenues sold to OMNIA in connection with the sale of non-healthcare GPO member contracts, less royalty fees retained, imputed interest expense and associated income tax expense. Free cash flow was revised to exclude the cash payments to OMNIA for the sale of future revenues and tax payments on proceeds received from the sale of future revenues. For comparability purposes, prior year non-GAAP financial measures are presented based on the current definitions in the above section.

In addition to the foregoing, this release and the reconciliations of our non-GAAP financial measures included at the end of this release include the presentation of additional fiscal-year 2025 non-GAAP financial measures including net revenue excluding Contigo Health, adjusted EBITDA excluding Contigo Health and adjusted earnings per share excluding Contigo Health. As the company continues to own and operate Contigo Health's remaining businesses, GAAP financial results presented in this release include contributions from these remaining businesses. The company expects that these remaining businesses will be substantially, if not entirely, transitioned to partners or wound down by December 31, 2025. Given the time span that has been required to effectuate the disposition and wind-down of Contigo Health, the company currently does not expect that it will qualify to treat this business as a discontinued operation in fiscal-year 2025. However, because of the expected transition and/or wind-down, guidance presented in this release excludes financial contributions from these remaining businesses. Accordingly, we believe that providing supplemental non-GAAP financial measures that align with our fiscal-year 2025 guidance allow for a better understanding of that guidance.

Further information on Premier's use of non-GAAP financial measures is available in the "Our Use of Non-GAAP Financial Measures" section of Premier's Form 10-K for the year ended June 30, 2025, expected to be filed with the SEC shortly after this release, and which will also be made available on Premier's website at investors.premierinc.com.

**Premier's Use of Forward-Looking Non-GAAP Measures** 

The company does not meaningfully reconcile guidance for non-GAAP adjusted EBITDA, non-GAAP adjusted net income and non-GAAP adjusted earnings per share to net income attributable to stockholders or earnings per share attributable to stockholders (and accordingly does not meaningfully reconcile free cash flow guidance, which is based on adjusted EBITDA) because the company cannot provide guidance for the more significant reconciling items between net income attributable to stockholders and each of these metrics without unreasonable effort. This is due to the fact that future period non-GAAP guidance includes adjustments for items not indicative of our core operations, which may include, without limitation, items included in the supplemental financial information for reconciliation of reported GAAP results to non-GAAP results. Such items include, but are not limited to, strategic and acquisition related expenses for professional fees; mark to market adjustments for put options and contingent liabilities; gains and losses on stock-based performance shares; adjustments to its income tax provision (such as valuation allowance adjustments and settlements of income tax claims); items related to corporate and facility restructurings; and certain other items the company believes to be non-indicative of its ongoing operations. Such adjustments may be affected by changes in ongoing assumptions, judgements, as well as non-recurring, unusual or unanticipated charges, expenses or gains/losses or other items that may not directly correlate to the underlying performance of our business operations. The exact amount of these adjustments is not currently determinable but may be significant.

As noted above, as a result of the company's expectation that the remaining businesses of Contigo Health will be substantially, if not entirely, transitioned to partners or wound down by December 31, 2025, the forward-looking guidance presented in this release (including Total Net Revenue Excluding Contigo Health, adjusted EBITDA, adjusted net income, adjusted EPS and free cash flow), excludes the financial contributions from these remaining businesses, in addition to any applicable adjustments for non-GAAP financial measures described above under "Premier's Use and Definitions of Non-GAAP Measures." With respect to these adjustments for Contigo Health, the company does not meaningfully reconcile guidance to GAAP measures because Contigo Health is expected to be transitioned to partners or wound down.

**Cautionary Note Regarding Forward-Looking Statements** 

Statements made in this release that are not statements of historical or current facts, including, but not limited to, those related to our ability to advance our business strategies and improve healthcare, our ability to transition to partners or wind down the remaining operations of Contigo Health and the potential costs and expenses associated therewith, the potential benefits of share repurchases made pursuant to the share repurchase authorization approved by our Board in 2024 (including the recently completed 2025 ASR), the payment of dividends at current levels or at all, guidance on expected future financial

------

performance and assumptions underlying that guidance, and our expected effective income tax rate, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Premier to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on any forward-looking statements, the achievement of which cannot be guaranteed. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements in the conditional or future tenses or that include terms such as "believes," "belief," "expects," "estimates," "intends," "anticipates" or "plans" to be uncertain and forward-looking. Forward-looking statements may include comments as to Premier's beliefs and expectations regarding future events and trends affecting its business and are necessarily subject to risks and uncertainties, many of which are outside Premier's control. More information on risks and uncertainties that could affect Premier's business, achievements, performance, financial condition and financial results is included from time to time in the "Cautionary Note Regarding Forward-Looking Statements," "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of Premier's periodic and current filings with the SEC, including the information in those sections of Premier's Form 10-K for the year ended June 30, 2025, expected to be filed with the SEC shortly after the date of this release. Premier's periodic and current filings with the SEC are made available on Premier's website at <u>investors.premierinc.com</u>. Forward-looking statements speak only as of the date they are made, and Premier undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events that occur after that date, or otherwise.

---

| | |
|:---|:---|
| **Investor contact:** | **Media contact:** |
| Ben Krasinski | Amanda Forster |
| Senior Director, Investor Relations | Vice President, Integrated Communications |
| 704.816.5644 | 202.879.8004 |
| ben_krasinski@premierinc.com | amanda_forster@premierinc.com |

---

------

**Consolidated Statements of Income** 

**(In thousands, except per share data)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended<br>June 30,** | **Three Months Ended<br>June 30,** | **Year Ended<br>June 30,** | **Year Ended<br>June 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
|  Net revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net administrative fees | $150052 | $166146 | $556328 | $624168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Software licenses, other services and support | 112805 | 134100 | 456319 | 511841 |
|  **Net revenue** | **262857** | **300246** | **1012647** | **1136009** |
|  Cost of revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Services and software licenses | 64293 | 68427 | 269288 | 268885 |
|  **Cost of revenue** | **64293** | **68427** | **269288** | **268885** |
|  Gross profit | 198564 | 231819 | 743359 | 867124 |
|  Operating expenses: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Selling, general, and administrative | 163512 | 138381 | 701420 | 690337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Research and development | 689 | 663 | 2634 | 3115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amortization of purchased intangible assets | 9499 | 9794 | 38189 | 47026 |
|  **Operating expenses** | **173700** | **148838** | **742243** | **740478** |
|  **Operating income** | **24864** | **82981** | **1116** | **126646** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity in net income (loss) of unconsolidated affiliates | 123 | 1344 | 11972 | (295) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest expense, net | (6305) | (73) | (17223) | (662) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other income, net | 6419 | 2332 | 102184 | 20832 |
|  Other income, net | 237 | 3603 | 96933 | 19875 |
|  Income before income taxes | 25101 | 86584 | 98049 | 146521 |
|  Income tax expense | 7083 | 25723 | 25315 | 42302 |
|  **Net income from continuing operations** | **18018** | **60861** | **72734** | **104219** |
|  Net (loss) income from discontinued operations, net of tax | (137) | (256) | (41901) | 2500 |
|  **Net income** | **17881** | **60605** | **30833** | **106719** |
|  Net loss (income) from continuing operations attributable to non-controlling interest | 554 | 71 | (10564) | 12825 |
|  **Net income attributable to stockholders** | $**18435** | $**60676** | $**20269** | $**119544** |
| ***Calculation of GAAP Earnings per Share*** |  |  |  |  |
|  **Numerator for basic and diluted earnings per share:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net income from continuing operations attributable to stockholders | $18572 | $60932 | $62170 | $117044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net (loss) income from discontinued operations attributable to stockholders | (137) | (256) | (41901) | 2500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net income attributable to stockholders | $18435 | $60676 | $20269 | $119544 |
|  **Denominator for earnings per share:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Basic weighted average shares outstanding | 82378 | 104838 | 91228 | 113791 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Effect of dilutive securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restricted stock units | 886 | 758 | 607 | 553 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Performance share awards | 327 |  | 82 | 64 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Diluted weighted average shares | 83591 | 105596 | 91917 | 114408 |
|  **Earnings per share attributable to stockholders:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Basic earnings per share from continuing operations | $0.22 | $0.58 | $0.68 | $1.03 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Basic earnings (loss) per share from discontinued operations |  |  | (0.46) | 0.02 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Basic earnings per share attributable to stockholders | $0.22 | $0.58 | $0.22 | $1.05 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Diluted earnings per share from continuing operations | $0.22 | $0.57 | $0.68 | $1.02 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Diluted earnings (loss) per share from discontinued operations |  |  | (0.46) | 0.02 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Diluted earnings per share attributable to stockholders | $0.22 | $0.57 | $0.22 | $1.04 |

---

------

**Consolidated Balance Sheets** 

**(In thousands, except share data)** 

---

| | | |
|:---|:---|:---|
|  | **June 30, 2025** | **June 30, 2024** |
|  **Assets** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash and cash equivalents | $83725 | $125146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accounts receivable (net of $6,339 and $1,392 allowance for credit losses, respectively) | 99092 | 100965 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract assets (net of $1,207 and $1,248 allowance for credit losses, respectively) | 318337 | 335831 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prepaid expenses and other current assets | 84649 | 73653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current assets of discontinued operations |  | 119662 |
|  **Total current assets** | **585803** | **755257** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Property and equipment (net of $820,043 and $742,063 accumulated depreciation, respectively) | 201481 | 205711 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intangible assets (net of $332,522 and $294,333 accumulated amortization, respectively) | 250770 | 269259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goodwill | 897894 | 995852 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred income tax assets | 762859 | 773002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred compensation plan assets | 35069 | 54422 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in unconsolidated affiliates | 262621 | 228562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating lease right-of-use assets | 5072 | 20635 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other assets | 95505 | 98749 |
|  **Total assets** | $**3097074** | $**3401449** |
|  **Liabilities and stockholders' equity** | **Liabilities and stockholders' equity** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accounts payable | $19619 | $22610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accrued expenses | 59151 | 58482 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Revenue share obligations | 347306 | 292792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accrued compensation and benefits | 99019 | 100395 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred revenue | 22548 | 19642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Line of credit and current portion of long-term debt | 280000 | 1008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current portion of notes payable to former limited partners |  | 101523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current portion of liability related to the sale of future revenues | 49712 | 51798 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other current liabilities | 33182 | 52589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current liabilities of discontinued operations | 96 | 45724 |
|  **Total current liabilities** | **910633** | **746563** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Liability related to the sale of future revenues, less current portion | 590727 | 599423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred compensation plan obligations | 35069 | 54422 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating lease liabilities, less current portion | 2007 | 11170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other liabilities | 28061 | 27640 |
|  **Total liabilities** | **1566497** | **1439218** |
|  **Commitments and contingencies** |  |  |
|  **Stockholders' equity:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class A common stock, $0.01 par value, 500,000,000 shares authorized; 91,548,325 shares issued and 82,544,385 shares outstanding at June 30, 2025 and 111,456,454 shares issued and 105,027,079 shares outstanding at June 30, 2024 | 916 | 1115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Treasury stock, at cost; 9,003,940 and 6,429,375 shares at June 30, 2025 and June 30, 2024, respectively | (161561) | (250129) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Additional paid-in capital | 2176318 | 2105684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Accumulated deficit) retained earnings | (485045) | 105590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accumulated other comprehensive loss | (51) | (29) |
|  **Total stockholders' equity** | **1530577** | **1962231** |
|  **Total liabilities and stockholders' equity** | $**3097074** | $**3401449** |

---

------

**Consolidated Statements of Cash Flows** 

**(In thousands)** 

---

| | | |
|:---|:---|:---|
|  | **Year Ended June 30,** | **Year Ended June 30,** |
|  | **2025** | **2024** |
|  **Operating activities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net income | $30833 | $106719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Adjustments to reconcile net income to net cash provided by operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net loss (income) from discontinued operations, net of tax | 41901 | (2500) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Depreciation and amortization | 117631 | 128754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity in net (income) loss of unconsolidated affiliates | (11972) | 295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred income taxes | 27076 | (123276) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock-based compensation | 23154 | 23290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Impairment of assets | 144481 | 140053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other, net | (23036) | (4518) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in operating assets and liabilities, net of the effects of acquisitions: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accounts receivable | 3006 | (15622) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract assets | 17557 | (39265) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prepaid expenses and other assets | 17481 | 237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accounts payable | (3108) | (10661) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Revenue share obligations | 54514 | 30504 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accrued expenses, deferred revenue, and other liabilities | (21709) | 44133 |
|  Net cash provided by operating activities from continuing operations | 417809 | 278143 |
|  Net cash (used in) provided by operating activities from discontinued operations | (16380) | 18417 |
|  **Net cash provided by operating activities** | $**401429** | $**296560** |
|  **Investing activities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases of property and equipment | $(82649) | $(81189) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proceeds from sale of assets | 20402 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acquisition of businesses, net of cash acquired | (39848) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sale of investment in unconsolidated affiliates |  | 12753 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other |  | (30) |
|  **Net cash used in investing activities** | $**(102095)** | $**(68466)** |
|  **Financing activities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments on notes payable | $(102531) | $(100937) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proceeds from credit facility | 435000 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments on credit facility | (155000) | (215000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proceeds from sale of future revenues | 42325 | 681427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments on liability related to the sale of future revenues | (53107) | (31535) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash dividends paid | (77445) | (95207) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Repurchase of Class A common stock | (400191) | (400000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments on deferred consideration related to acquisition of business |  | (27187) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments on earn-out liabilities | (22700) | (1375) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other, net | (7084) | (2906) |
|  **Net cash used in financing activities** | $**(340733)** | $**(192720)** |
|  Effect of exchange rate changes on cash flows | (22) | (21) |
|  Net (decrease) increase in cash and cash equivalents | (41421) | 35353 |
|  Cash and cash equivalents at beginning of period | 125146 | 89793 |
|  **Cash and cash equivalents at end of period** | $**83725** | $**125146** |

---

------

**Supplemental Financial Information** 

**Reconciliation of Net Cash Provided by Operating Activities from Continuing Operations to Free Cash Flow** 

**(Unaudited)** 

**(In thousands)** 

---

| | | |
|:---|:---|:---|
|  | **Year Ended**<br>**June 30,** | **Year Ended**<br>**June 30,** |
|  | **2025** | **2024** |
|  Net cash provided by operating activities from continuing operations | $417809 | $278143 |
|  Early termination payments to certain former limited partners that elected to execute a Unit Exchange Agreement <sup>(a)</sup> | (101524) | (99665) |
|  Purchases of property and equipment | (82649) | (81189) |
|  Cash payments to OMNIA for the sale of future revenues <sup>(b)</sup> | (53107) | (31535) |
|  Cash tax payments on proceeds received from the sale of future revenues |  | 162292 |
|  **Free cash flow** | $**180529** | $**228046** |

---

(a) Early termination payments to certain former limited partners that elected to execute a Unit Exchange Agreement
in connection with Premier's August 2020 restructuring are presented in the Consolidated Statements of Cash Flows under "Payments made on notes payable." During the year ended June 30, 2025, the company paid
$102.7 million to members, including imputed interest of $1.2 million which is included in net cash provided by operating activities from continuing operations. During the year ended June 30, 2024, the company paid $102.7 million
to members, including imputed interest of $3.0 million which is included in net cash provided by operating activities from continuing operations. At June 30, 2025, the early termination payments were paid in full.

(b) Cash payments to OMNIA for the sale of future revenues in connection with our sale of non-healthcare contracts to OMNIA are presented in the Consolidated Statements of Cash Flows under "Payments on liability related to the sale of future revenues." During the year ended June 30,
2025, the company paid $70.1 million to OMNIA, including imputed interest of $17.0 million which is included in net cash provided by operating activities from continuing operations. During the year ended June 30, 2024, the company
paid $44.4 million to OMNIA, including imputed interest of $14.2 million which is included in net cash provided by operating activities from continuing operations.

------

**Supplemental Financial Information** 

**Reconciliation of Net Income from Continuing Operations to Adjusted EBITDA** 

**Reconciliation of Operating Income to Segment Adjusted EBITDA** 

**Reconciliation of Net Income Attributable to Stockholders to Adjusted Net Income** 

**(Unaudited)** 

**(In thousands)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended**<br>**June 30,** | **Three Months Ended**<br>**June 30,** | **Year Ended**<br>**June 30,** | **Year Ended**<br>**June 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
|  **Net income from continuing operations** | $**18018** | $**60861** | $**72734** | $**104219** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest expense, net | 6305 | 73 | 17223 | 662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Income tax expense | 7083 | 25723 | 25315 | 42302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Depreciation and amortization | 20052 | 20636 | 79442 | 81728 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amortization of purchased intangible assets | 9499 | 9794 | 38189 | 47026 |
|  **EBITDA** | **60957** | **117087** | **232903** | **275937** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock-based compensation | 7669 | 205 | 23700 | 23876 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acquisition- and disposition-related expenses | 2520 | 4117 | 6943 | 12612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Strategic initiative and restructuring-related expenses | 6914 | (119) | 13007 | 2850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating income from revenues sold to OMNIA | (16840) | (15624) | (62469) | (55283) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity in net (income) loss of unconsolidated affiliates | (123) | (1344) | (11972) | 295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other non-operating gains | (3255) |  | (79826) | (11046) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Impairment of assets | 10810 |  | 144481 | 140053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other reconciling items, net | 204 | (309) | (13647) | (309) |
|  **Adjusted EBITDA** | $**68856** | $**104013** | $**253120** | $**388985** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Add: Loss from Contigo Health <sup>(a)</sup> | 2252 | 2032 | 7315 | 7206 |
|  **Adjusted EBITDA excluding Contigo Health** | $**71108** | $**106045** | $**260435** | $**396191** |
| (a) Contigo Health was in a loss position which results in an increase to adjusted EBITDA and adjusted EPS when excluding Contigo Health. | (a) Contigo Health was in a loss position which results in an increase to adjusted EBITDA and adjusted EPS when excluding Contigo Health. | (a) Contigo Health was in a loss position which results in an increase to adjusted EBITDA and adjusted EPS when excluding Contigo Health. | (a) Contigo Health was in a loss position which results in an increase to adjusted EBITDA and adjusted EPS when excluding Contigo Health. | (a) Contigo Health was in a loss position which results in an increase to adjusted EBITDA and adjusted EPS when excluding Contigo Health. |
|  **Income before income taxes** | $**25101** | $**86584** | $**98049** | $**146521** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity in net (income) loss of unconsolidated affiliates | (123) | (1344) | (11972) | 295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest expense, net | 6305 | 73 | 17223 | 662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other income, net | (6419) | (2332) | (102184) | (20832) |
|  **Operating income** | **24864** | **82981** | **1116** | **126646** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Depreciation and amortization | 20052 | 20636 | 79442 | 81728 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amortization of purchased intangible assets | 9499 | 9794 | 38189 | 47026 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock-based compensation | 7669 | 205 | 23700 | 23876 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acquisition- and disposition-related expenses | 2520 | 4117 | 6943 | 12612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Strategic initiative and restructuring-related expenses | 6914 | (119) | 13007 | 2850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating income from revenues sold to OMNIA | (16840) | (15624) | (62469) | (55283) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred compensation plan expense | 3165 | 1400 | 4603 | 8769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Impairment of assets | 10810 |  | 144481 | 140053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other reconciling items, net | 203 | 623 | 4108 | 708 |
|  **Adjusted EBITDA** | $**68856** | $**104013** | $**253120** | $**388985** |
|  **SEGMENT ADJUSTED EBITDA** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Supply Chain Services | $89986 | $109617 | $326902 | $409669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Performance Services | 17170 | 32820 | 60692 | 113845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate | (38300) | (38424) | (134474) | (134529) |
|  **Adjusted EBITDA** | $**68856** | $**104013** | $**253120** | $**388985** |
|  **Net income attributable to stockholders** | $**18435** | $**60676** | $**20269** | $**119544** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net loss (income) from discontinued operations, net of tax | 137 | 256 | 41901 | (2500) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Income tax expense | 7083 | 25723 | 25315 | 42302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amortization of purchased intangible assets | 9499 | 9794 | 38189 | 47026 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock-based compensation | 7669 | 205 | 23700 | 23876 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acquisition- and disposition-related expenses | 2520 | 4117 | 6943 | 12612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Strategic initiative and restructuring-related expenses | 6914 | (119) | 13007 | 2850 |

---

------

**Supplemental Financial Information** 

**Reconciliation of Net Income from Continuing Operations to Adjusted EBITDA** 

**Reconciliation of Operating Income to Segment Adjusted EBITDA** 

**Reconciliation of Net Income Attributable to Stockholders to Adjusted Net Income** 

**(Unaudited)** 

**(In thousands)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended<br>June 30,** | **Three Months Ended<br>June 30,** | **Year Ended<br>June 30,** | **Year Ended<br>June 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating income from revenues sold to OMNIA | (16840) | (15624) | (62469) | (55283) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity in net (income) loss of unconsolidated affiliates | (123) | (1344) | (11972) | 295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other non-operating gains | (3255) |  | (79826) | (11046) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Impairment of assets | 10810 |  | 144481 | 140053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other reconciling items, net | 4181 | 4647 | 16451 | 6087 |
|  Adjusted income before income taxes | 47030 | 88331 | 175989 | 325816 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Income tax expense on adjusted income before income taxes | 11287 | 23849 | 42237 | 87970 |
|  **Adjusted net income** | $**35743** | $**64482** | $**133752** | $**237846** |

---

------

**Supplemental Financial Information** 

**Reconciliation of GAAP EPS to Adjusted EPS** 

**(Unaudited)** 

**(In thousands, except per share data)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended<br>June 30,** | **Three Months Ended<br>June 30,** | **Year Ended<br>June 30,** | **Year Ended<br>June 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
|  **Net income attributable to stockholders** | $**18435** | $**60676** | $**20269** | $**119544** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net loss (income) from discontinued operations, net of tax | 137 | 256 | 41901 | (2500) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Income tax expense | 7083 | 25723 | 25315 | 42302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amortization of purchased intangible assets | 9499 | 9794 | 38189 | 47026 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock-based compensation | 7669 | 205 | 23700 | 23876 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acquisition- and disposition-related expenses | 2520 | 4117 | 6943 | 12612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Strategic initiative and restructuring-related expenses | 6914 | (119) | 13007 | 2850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating income from revenues sold to OMNIA | (16840) | (15624) | (62469) | (55283) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity in net (income) loss of unconsolidated affiliates | (123) | (1344) | (11972) | 295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other non-operating gains | (3255) |  | (79826) | (11046) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Impairment of assets | 10810 |  | 144481 | 140053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other reconciling items, net | 4181 | 4647 | 16451 | 6087 |
|  Adjusted income before income taxes | 47030 | 88331 | 175989 | 325816 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Income tax expense on adjusted income before income taxes | 11287 | 23849 | 42237 | 87970 |
|  **Adjusted net income** | $**35743** | $**64482** | $**133752** | $**237846** |
|  Weighted average: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Basic weighted average shares outstanding | 82378 | 104838 | 91228 | 113791 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dilutive shares | 1213 | 758 | 689 | 617 |
|  **Weighted average shares outstanding - diluted** | **83591** | **105596** | **91917** | **114408** |
|  **Basic earnings per share attributable to stockholders** | $**0.22** | $**0.58** | $**0.22** | $**1.05** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net loss (income) from discontinued operations, net of tax |  |  | 0.46 | (0.02) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Income tax expense | 0.09 | 0.25 | 0.28 | 0.37 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amortization of purchased intangible assets | 0.12 | 0.09 | 0.42 | 0.41 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock-based compensation | 0.09 |  | 0.26 | 0.21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Acquisition- and disposition-related expenses | 0.03 | 0.04 | 0.08 | 0.11 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Strategic initiative and restructuring-related expenses | 0.08 |  | 0.14 | 0.03 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating income from revenues sold to OMNIA | (0.20) | (0.15) | (0.68) | (0.49) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity in net (income) loss of unconsolidated affiliates |  | (0.01) | (0.13) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other non-operating gains | (0.04) |  | (0.88) | (0.10) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Impairment of assets | 0.13 |  | 1.58 | 1.23 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other reconciling items, net | 0.06 | 0.04 | 0.18 | 0.05 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Impact of corporation taxes | (0.14) | (0.23) | (0.46) | (0.77) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Impact of dilutive shares | (0.01) |  | (0.01) |  |
|  **Adjusted earnings per share** | $**0.43** | $**0.61** | $**1.46** | $**2.08** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Add: Loss from Contigo Health <sup>(a)</sup> | 0.03 | 0.03 | 0.08 | 0.09 |
|  **Adjusted earnings per share excluding Contigo Health** | $**0.46** | $**0.64** | $**1.54** | $**2.17** |

---

(a) Contigo Health was in a loss position which results in an increase to adjusted EBITDA and adjusted EPS when
excluding Contigo Health.

------

**Supplemental Financial Information** 

**Reconciliation of Certain Financial Measures to Adjust for Contigo Health** 

**(Unaudited)** 

**(In thousands)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended**<br>**June 30,** | **Three Months Ended**<br>**June 30,** | **Year Ended<br>June 30,** | **Year Ended<br>June 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
|  Net revenue | $262857 | $300246 | $1012647 | $1136009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Less: Contigo Health | (4885) | (8585) | (26694) | (39846) |
|  **Net revenue excluding Contigo Health** | $**257972** | $**291661** | $**985953** | $**1096163** |
|  Adjusted EBITDA | $68856 | $104013 | $253120 | $388985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Add: Loss from Contigo Health <sup>(a)</sup> | 2252 | 2032 | 7315 | 7206 |
|  **Adjusted EBITDA excluding Contigo Health** | $**71108** | $**106045** | $**260435** | $**396191** |
|  Adjusted EPS | $0.43 | $0.61 | $1.46 | $2.08 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Add: Loss from Contigo Health <sup>(a)</sup> | 0.03 | 0.03 | 0.08 | 0.09 |
|  **Adjusted EPS excluding Contigo Health** | $**0.46** | $**0.64** | $**1.54** | $**2.17** |

---

(a) Contigo Health was in a loss position which results in an increase to adjusted EBITDA and adjusted EPS when
excluding Contigo Health.

## Exhibit 99.2

**Exhibit 99.2** 

**Premier, Inc.** 

**Fiscal 2025 Q4 Earnings Call Transcript** 

**August 19, 2025, 8:00 a.m. ET** 

CORPORATE PARTICIPANTS

• **Michael Alkire - *Premier, Inc. - President, CEO & Director*** 

**•** **Glenn Coleman - *Premier, Inc. - Chief Administrative and Financial Officer*** 

**•** **David Zito - *Premier, Inc. - President, Performance Services*** 

**•** **Ben Krasinski - *Premier, Inc. - Senior Director, Investor Relations*** 

CONFERENCE CALL PARTICIPANTS

**•** **Daniel Clark - *Leerink Partners LLC - Analyst*** 

**•** **Eric Percher - *Nephron Research LLC - Analyst*** 

**•** **Eric Coldwell - *Robert W. Baird & Co Inc - Analyst*** 

**•** **Jessica Tassan - *Piper Jaffray Inc - Analyst*** 

**•** **Kevin Caliendo - *UBS AG - Analyst*** 

**•** **Allen Lutz - BofA *Merrill Lynch Asset Holdings Inc - Analyst*** 

**•** **Richard Close - *Canaccord Genuity Corp - Analyst*** 

PRESENTATION

**Operator** 

Good morning, and welcome to Premier's fiscal 2025 fourth quarter and full year conference call. (Operator Instructions).

Please note this event is being recorded.

I would now like to turn the conference over to Ben Krasinski, Senior Director, Investor Relations. Please go ahead.

**Ben Krasinski - *Premier, Inc. - Senior Director, Investor Relations*** 

Thank you. And welcome to Premier's fiscal 2025 fourth quarter and full year conference call. Our speakers this morning are Mike Alkire, Premier's President and CEO and Glenn Coleman, our Chief Administrative and Financial Officer.

------

Before we get started, I want to remind everyone that our earnings release and the supplemental presentation accompanying this call are available in the Investors section of our website at investors.premierinc.com. Please be advised that management's remarks today contain certain forward-looking statements, such as statements regarding our strategies, plans, prospects, expectations and future performance, and actual results could differ materially from those discussed today. These forward-looking statements speak as of today, and we undertake no obligation to update them. Factors that might affect future results are discussed in our filings with the SEC, including our fiscal 2025 Form 10-K, which we expect to file soon. We encourage you to review the detailed forward-looking statement and risk factor disclosures in these reports.

Also, during this presentation, we will refer to adjusted and other non-GAAP financial measures, including free cash flow, to evaluate our business. Information on why we use these measures in addition to GAAP financial measures and reconciliations of these measures to our GAAP financial measures are included in our earnings release and in the appendix of the supplemental presentation accompanying this call. Information on our non-GAAP financial measures will also be included in our fiscal 2025 Form 10-K and our earnings Form 8-K, both of which we expect to file soon.

I will now turn the call over to Mike Alkire.

**Michael Alkire - *Premier, Inc. - President, CEO & Director*** 

Thanks, Ben. Good morning, everyone, and thank you for joining us for Premier's fiscal year 2025 fourth quarter and full year earnings call. Glenn will share a more detailed review of our results later in the call. But overall, I'm pleased with our strong finish to the year. Our overall revenue and profitability exceeded expectations, largely due to better-than-anticipated performance in the Supply Chain Services segment, where we continue to see better contract penetration and ramp-up of new member spend.

In addition, we also continued to return meaningful capital to stockholders through our quarterly cash dividend and the completion of our $200 million accelerated share repurchase program.

From a macro perspective, we continue to see mounting financial pressures for many of our member hospitals and health systems, both in the current environment and looking ahead. These broader market dynamics are accelerating demand for the kind of value-based strategic support that we uniquely provide. Significant headwinds, such as reimbursement cuts, are forcing health systems to rethink their cost structures and long-term sustainability. Many of our members are proactively moving beyond short-term cost containment towards structural changes that strengthen operational resilience and unlock long-term value.

We are well positioned to help them on that journey. The breadth of our GPO portfolio, the depth of our advisory expertise and the promise of our technology are differentiating us in the market, enabling us to deliver measurable impact that scale and deepen our strategic partnerships across the health system landscape. This is evident in the fact that we recently signed four very large advisory deals and have a robust pipeline heading into fiscal 2026.

As a result of our efforts to reinvigorate our Performance Services segment, and the new talent that we have brought into the company, we are seeing meaningful momentum in our advisory business, a strong validation of the differentiated expertise and capabilities we bring to our members. These health systems are turning to Premier for enterprise-wide transformation.

In June, we were excited to announce the acquisition of IllumiCare, a strategic move that significantly strengthens our ability to deliver real-time insights at the point of care, leveraging our AI capabilities. This solution not only complements our existing clinical decision support offering, but also expands our addressable market, especially as providers face mounting pressure to improve clinical and financial performance simultaneously.

Importantly, our pipeline continues to build, and we're encouraged by the level of strategic engagement we're seeing. These are not one-off projects. Our members are increasingly recognizing the need for fundamental change.

In our Supply Chain Services segment, our core GPO business remains strong. We're seeing increased demand for members looking for margin improvement solutions amid ongoing cost pressures, reimbursement uncertainty and potential tariff impacts. We continue to focus on delivering stability and long-term value creation.

Our pharmacy and food portfolios have continued to serve as key differentiators within our GPO. Both are delivering steady, meaningful growth, not only among our current members, but also by attracting non-Premier organizations seeking distinctive high-impact savings with built-in supply assurance.

These categories are proving to be powerful entry points. And based on historical performance, we believe they are strong leading indicators of broader engagement across our portfolio. This momentum reinforces the critical value we deliver in helping members and future partners navigate today's operational and financial challenges.

------

Taken together, the strength of our business, the commitment of our team and the growing strategic needs of our members give us confidence in our ability to drive growth moving forward.

With that, I'll now turn the call over to Glenn for a deeper dive into our financial results and outlook for the year ahead.

**Glenn Coleman - *Premier, Inc. - Chief Administrative and Financial Officer*** 

Thanks, Mike. As a reminder, all results discussed during this call reflect continuing operations and do not reflect S2S Global, which was divested in October 2024. In addition, we continue to transition and wind down the remaining Contigo Health assets by the end of this calendar year. As such, actual results for the quarter include contributions from the Contigo Health business. However, we're continuing to exclude the results of Contigo Health in our guidance, in our discussion of revenue and adjusted profitability for the fourth quarter and full year on today's call.

Now turning to our financial results, total full year revenue, adjusted EBITDA and adjusted EPS exceeded our expectations. We closed out fiscal year 2025 on a positive note, with net revenue of $986 million, being $11 million above the midpoint of the guidance range, while adjusted EPS of $1.54 was $0.11 above the high end of our guidance range.

Moving to our fourth quarter results. Net revenue of $258 million increased 1% on a sequential basis, but declined from the prior year period, largely driven by higher fee share from contract renewals, which are now mostly completed.

GAAP net income and EPS from continuing operations of $18 million or $0.22 per share decreased from the prior year period mainly due to lower revenue in the current year quarter. Adjusted EBITDA of $71 million was flat on a sequential basis and translated to a margin of 27.6%. This was better than expected as the revenue outperformance in Supply Chain Services had high margin flow-through to profitability.

Adjusted EPS of $0.46 was well ahead of our expectations, due to better-than-expected revenue in our Supply Chain Services segment and a lower share count. In mid-August, we completed our $200 million accelerated share repurchase program, bringing the total amount of common stock repurchased to $800 million under our $1 billion authorization, which expired on June 30.

Turning to segment results, Supply Chain Services continued to perform above expectations despite the increase in the aggregate blended fee share in the quarter. This increase was partially offset by continued growth in gross administrative fees, which grew over 3% in fiscal year 2025 driven by higher contract penetration with existing members and onboarding of new members. In addition, we continue to see broad growth across key categories such as Medsurg, pharmacy, food and purchase services.

We've also made meaningful progress in contract negotiations with GPO members that were part of the August 2020 restructure. As of June 30, contracts representing less than 20% of this group's fees remain, with the majority expected to be addressed in fiscal year 2026. As such, we anticipate fee share will increase to the mid-60% range in fiscal year 2026 and it will stabilize in the high 60s on an annualized basis once we've addressed all renewals. Lastly, given we are on the back end of renewals, this will be our final report on the process.

Also in this segment, other Supply Chain Services revenue was driven by 17% growth in our Supply Chain co-management business, resulting from new engagements with members. In addition, our digital supply chain business grew 15% due to further expansion of our solutions to providers and suppliers. Both of these areas represent growth opportunities for us in fiscal year 2026 and beyond.

Moving to the Performance Services segment. We delivered another quarter of sequential improvement in our advisory business. However, it was lower compared to the prior year period as we're still working to rebuild our sales funnel, but are very encouraged by the large engagements that we've recently won. We also have a robust pipeline of additional opportunities that we're working to close and expect our advisory business to return to double-digit growth in fiscal year 2026. In the fourth quarter, we also had lower enterprise license revenue due to a tough comp to the prior year quarter.

Shifting to the balance sheet, in fiscal year 2025, free cash flow was above our expectations, amounting to $181 million, which translated to a free cash flow conversion of 69%. Year-over-year, free cash flow decreased $48 million, mainly due to higher performance-related compensation payments and the timing of payments to Omnia. These were partially offset by cash received from the derivative lawsuit settlement and a dividend distribution from one of our minority investments in the current year.

In fiscal year 2026, we expect free cash flow conversion in the range of 70% to 80%, and we continue to anticipate that our cash tax rate will be less than 5% over the next five years. Cash and cash equivalents totalled $84 million as of June 30, and we ended the quarter with an outstanding balance of $280 million on our credit facility.

------

With respect to capital deployment, we continue to remain disciplined and focused on taking a balanced approach. As I mentioned earlier, we recently completed the $200 million accelerated share repurchase program. In fiscal year 2025, our quarterly dividends totalled $77 million and represented a nearly 4% dividend yield.

Going forward, our priority on capital deployment will be driving revenue growth through organic investments as well as potential tuck-in acquisitions to further enhance our core offerings in the marketplace. As Mike mentioned earlier, we recently acquired IllumiCare to further expand our clinical decision support capabilities.

Lastly, we made the final payment associated with the termination of the tax receivable agreement in connection with our August 2020 restructure. These payments have been approximately $100 million per year and beginning July 1, 2025, they no longer negatively impact our free cash flow, providing us more capacity to support our long-term growth plans.

Let me now turn to our outlook. At a high level, I would generally characterize fiscal year 2026 as a year of expected stabilization and transition as we finalize the GPO contract renewal process. As such, we expect to return to positive growth for total net revenue, adjusted EBITDA and adjusted EPS in fiscal year 2027.

With that said, our fiscal year 2026 guidance ranges are as follows: Total net revenue of $940 million to $1 billion. Our segment guidance assumed in this range is Supply Chain Services revenue of $590 million to $620 million, and Performance Services revenue of $350 million to $380 million. We also expect adjusted EBITDA to be in the range of $230 million to $245 million and adjusted EPS of $1.33 to $1.43.

In terms of operating expense, we took meaningful steps to reduce our expenses by $40 million on an annual run rate basis in the fourth quarter, which is expected to result in a slight year-over-year reduction in fiscal year 2026 operating expenses despite reinvesting some of these savings back into faster growing areas of our business.

In terms of our quarterly cadence. We expect lower revenue and profitability in the first half of the year, mainly due to the ramp-up of head count to support the recent success of our advisory business. Importantly, we anticipate this impact will be transitory, and that margins will improve as we begin to recognize the associated revenue later in the year.

Although we don't typically provide quarterly guidance, given this dynamic, we're providing the following guidance for Q1. Total net revenue of between $230 million and $245 million, adjusted EBITDA of $45 million to $50 million and adjusted EPS of $0.27 to $0.32.

In summary, we finished the year on a positive note as overall revenue and profitability exceeded our expectations for the year. This provides us momentum heading into fiscal year 2026. Second, Supply Chain Services continued to perform better than expected, and we're on the back end of the contract renewals for GPO members. We also continue to execute our plan to reinvigorate performance services with significant contract wins in advisory services and are building a robust pipeline of future opportunities. Third, we expect an inflection back to growth in key consolidated financial metrics in fiscal year 2027.

In closing, we have a flexible balance sheet and meaningful cash flow that provides us with the ability to continue to grow our business and return value to stockholders.

We appreciate your time today, and we'll now open the call for questions.

QUESTIONS AND ANSWERS

**Operator** 

We will now begin the question-and-answer session.

(Operator Instructions)

Michael Cherny, Leerink Partners

**Daniel Clark *- Leerink Partners LLC - Analyst*** 

This is Dan Clark on for Mike. First question, just wanted to ask about customer buying behavior you saw in the Supply Chain Services segment in the quarter. Was there any changes or any pull forward ahead of potential tariffs that you observed? And what are you kind of seeing here generally?

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**Michael Alkire *- Premier, Inc. - President, CEO & Director*** 

This is Mike Alkire. We did not see a significant pull forward of any buying behavior. In certain areas, you might have seen some increases, but that was primarily due to some regional issues and things like that, but nothing significant due to the tariffs.

**Daniel Clark *- Leerink Partners LLC - Analyst*** 

Great. And then just a second question on the momentum in the advisory business. Can you just talk about a little more what's driving that? Is it - how much of it is execution on your end, the collection of kind of the services that you offer and how much of it is just sort of market driven?

**Michael Alkire *- Premier Inc - President, CEO & Director*** 

Yes. So I'm going to introduce Dave Zito here in just a second. So Dave's on the call. So Dave is obviously the leader of Performance Services.

But let me just start by saying I think the number one thing that's driving it is, obviously, we've hired Dave and Dave has got a long history of a lot of success in advisory - and with all that success and with what's happening with the market, the dynamics happening with the cost pressures, the labor issues, some of these issues associated with potential cuts in Medicaid and those kinds of things. It's a market that needs some very very strong solutions to help these health systems transform. So the market is there. We've got a strong team led by Dave and these guys have recently signed four very large deals. But with that, Dave, I'll turn it over to you for some color.

**David Zito - *Premier, Inc. - President, Performance Services*** 

Thank you. I would just echo Mike's comments. I think it's - one is market for sure. I think people are concerned about the impacts of the One Big Beautiful Bill from a Medicaid perspective on both top and bottom line, so they're trying to prepare for that. And secondly, I think it's - we have the right capabilities, breadth and depth of resources, the technology enablement that Premier's invested in over time is a differentiator. And probably most importantly, is that Premier is a trusted brand in the market in terms of delivering results for customers. So they look to us, they trust that will help them address their concerns. So I think it's a combination of all those things that's allowing us to be successful.

**Operator** 

Eric Percher, Nephron Research.

**Eric Percher - *Nephron Research LLC - Analyst*** 

It's good to hear the progress on the admin fee renewal now being below 20% for that August '20 group. Given that you said it's a final report you'd like to give here, can you provide us with a bit of color on the cadence over the year as you get to the stabilization level in the high 60s. Is it fair to expect that we may see more of that in the first half of the year versus second half? And then also, can you tell us what the underlying admin fee share growth assumption is for fiscal year '26?

**Glenn Coleman *- Premier, Inc. - Chief Administrative and Financial Officer*** 

Yes, Eric, this is Glenn. Thanks for the questions. Before I get into that, I just first want to highlight the outstanding quarter we had in Supply Chain Services. We actually beat our guidance midpoint by about $21 million on the top line, and that drove a significant beat on both our EBITDA and EPS. So we were very pleased overall with how we ended up the year with Supply Chain Services, which was pretty consistent throughout the year.

If I look at the components of our fee share, our gross administrative fees grew about 3% on a full year basis. We saw growth year-over-year in all four quarters with the largest being in the fourth quarter. And we also saw growth in both acute and non-acute. So the growth we're seeing across our portfolio, food, pharmacy, medsurg, acute, non-acute, very broad-based growth, and we're expecting that to continue heading into fiscal year 2026.

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So I would say on the gaf side, with the increase we're seeing in contract penetration, more uptake on our SURPASS contracts, we're expecting that 3% number to go up in 2026. So think of that as a 4% type number. On the fee share, we ended the year in 2025 in the low 60% range. That was consistent with our guidance.

Based upon our 2026 guidance numbers, we're anticipating the fee share amount to go in the mid-60s range, and that will ramp up throughout 2026. So expect to see the slight increase throughout the year. And then by the end of 2026, we should be essentially complete with all of the 2020 restructured contracts. So maybe a couple still out there. But we're now on the back end of this, we're going to be done for the majority of these contracts by the end of '26, and that's why we know we're going to give specific numbers on our fee share percentages moving forward. If anything changes in a significant way, obviously, we would call that out. But hopefully that - gives you to give you a sense about where we're at.

**Eric Percher - *Nephron Research LLC - Analyst*** 

Yes, that's helpful. I think what I'm trying to get is the segment EBITDA levels based on what you stated it appears that EPS will be down. I think you just gave us why. But we should assume the pull-through on the admin fee in Supply Chain look similar to what we saw this quarter as we're modeling next year. Is that fair?

**Glenn Coleman *- Premier, Inc. - Chief Administrative and Financial Officer*** 

Well, again, we're not going to give specific segment guidance for EBITDA. I would just directionally tell you, I'm expecting to see a nice EBITDA margin expansion in our Performance Services business. That's largely driven by the fact that advisory services is expected to ramp. We talked about the meaningful contracts that we've won recently. There's four of them. We've got a robust pipeline of additional opportunities. So even with some of our software business declining in 2026, we're expecting EBITDA margin expansion because of better productivity largely coming from our advisory business. So I'm really excited about that turnaround.

On the Supply Chain Services side, we would expect to see a decline in our EBITDA margins because we're not through the fee share reset yet. So even with the GAAP growth I talked about, overall, I'm expecting our EBITDA margins to go down in Supply Chain Services.

And then obviously, as we get to 2027, we would expect the overall business to show an improvement and I think for the first time now, we've got good line of sight to say we feel good we're going to be growing across all of our key financial metrics in 2027.

**Operator** 

Eric Coldwell, Baird.

**Eric Coldwell *- Robert W. Baird & Co Inc - Analyst*** 

I was hoping you could help us with sizing on IllumiCare in terms of both revenue and EBITDA profile. And then secondarily, I know you're guiding fiscal '26 without Contigo, but could you let us know what you're thinking results might look like if we continue to model that from what's left on revenue in EBITDA.

**Michael Alkire *- Premier, Inc. - President, CEO & Director*** 

Sure. But let me start real quick on IllumiCare because I want to make sure everybody understands the asset that we've acquired. First of all, IllumiCare solves a very critical member pain point. It addresses the concerns that we've been speaking about, which is margin compression. And so all these things that both Dave Zito and I have talked about with labor shortages, reimbursement cuts, rising costs and those kinds of things. IllumiCare is going to be a proven lever to actually drive value there. It drives demonstratable difference in terms of delivering about $100 savings per inpatient discharge. So I think it has a huge opportunity to have significant penetration in our health systems and importantly can really help our healthcare systems perform in a very difficult time. It also has some wonderful real-time clinical decision support capability that actually works across all EMRs or the significant chunk of EMRs. So we're very excited about that. And then obviously, we think it's going to be a really nice addition to our Stanson Health capability, and it's going to be a very robust solution using AI, machine learning and clinical decision support.

But with that, Glenn, I'll flip it over to you to get into the details on the numbers.

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**Glenn Coleman *- Premier, Inc. - Chief Administrative and Financial Officer*** 

Yes, I would just add to your comments on the $100 per discharge savings, it's a 10:1 return on investment for our customers, which is a meaningful return that they get almost immediate. So we're really excited about that acquisition. In terms of the size of the numbers, IllumiCare, you can think of it as an $8 million to $10 million revenue business for us in fiscal year '26 and breakeven on the bottom line. So no impact to our adjusted EPS or adjusted EBITDA and obviously, we're expecting this to be one of the growth engines for us going forward as it integrates with our Stanson business. So between the clinical decision support and financial decision support now, we have a really nice synergistic business that we're expecting to generate double-digit growth moving forward.

As it relates to Contigo Health, I would just say we're winding that business down. Right now, we've modeled about $9 million of revenue in 2026 and a $6 million EBITDA loss.

**Operator** 

Jessica Tassan, Piper Sandler.

**Jessica Tassan - *Piper Jaffray Inc - Analyst*** 

Congrats on the really strong fourth quarter and fiscal '25. You all have an interesting, so you guys have an interesting perspective because I think the group - and you mentioned this in your prepared remarks - the group purchasing portfolio includes food and perishable items. I guess, are you observing any divergence in kind of typical food purchasing patterns versus medsurg purchasing patterns that would indicate increased intensity per unit of care delivered in FY25, either because of kind of deliberate hospital actions or because patients are preparing to lose coverage in '26. Just any color on trends and intensity per unit of care that you might be able to glean based on just medsurg versus food purchasing.

**Michael Alkire *- Premier, Inc. - President, CEO & Director*** 

That's a great question. It's very tough to glean it out of those two portfolios. We look at - we have all the data on other measures from a clinical standpoint, lab values and those kinds of things that we can understand and lean that a little bit more effectively. And I would tell you, there's nothing that's we see that significantly changing from a dynamic that you're speaking about.

From a food standpoint, as just a quick reminder, our food program is truly differentiated in the industry. We use it as sort of a pointy end of the spear in terms of getting access into accounts that might not be Premier accounts. So you heard me talk a little bit about that in those opening remarks. We want to continue to do that just because that program continues to grow and evolve and drive a significant amount of value to these health systems, especially when there's a lot of fiscal pressures they're facing.

**Jessica Tassan - *Piper Jaffray Inc - Analyst*** 

Got it. That's helpful. And then just my second question is how big is the advisory business within - and apologies if I missed this. How big is advisory within Performance Services - and then I think you mentioned that business is expected to grow double digits in FY26. So those four big contracts get you there? Or just how much visibility do you have into that double-digit growth?

**Michael Alkire *- Premier, Inc. - President, CEO & Director*** 

Yes. Thanks for the question. We don't break out advisory in Performance Services, but I'll just give you a rough sizing. It's about $50 million to $100 million. And I talked about double-digit growth. I would say we're expecting the growth to be above 25% in fiscal year '26. A lot of these contracts, keep in mind, are multiyear contracts. So we will recognize that revenue over in many cases, 18 to 24 months, but I'm expecting at least 25% growth coming from advisory largely coming from these four deals. If we get more deals closed, it could even be greater upside to our numbers. But right now, we feel very confident given what we've closed. And obviously, we've got to execute on these deals to get that revenue. But really nice turnaround in our advisory business, and it's not going to be a onetime blip. We're really creating a sustainable long-term business that we expect to grow meaningfully over the next five years.

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**Operator** 

Kevin Caliendo, UBS.

**Kevin Caliendo - *UBS AG - Analyst*** 

Glenn, on the free cash flow guidance, I appreciate the color on that. It's always helpful. I'm just wondering how the TRA plays into that? Like is that included in the free cash flow conversion? Or should we think about the TRA as incremental for fiscal '26 free cash flow?

**Glenn Coleman *- Premier, Inc. - Chief Administrative and Financial Officer*** 

It's included in our free cash flow guidance. Overall, our free cash flows, if you look at the numbers year-to-year are pretty flat. So - there's a couple of dynamics in place here. Number one, we've got the positive $100 million TRA benefit, but there was a couple of items in fiscal year '25 that helped us as well that's onetime in nature. So the derivative lawsuit that I mentioned, along with this minority investment dividend that we received pretty much offset that year-over-year. So that's why you don't see the big pop in free cash flow. But going forward, we expect now not to have this $100 million headwind, which is a big positive for us.

**Kevin Caliendo - *UBS AG - Analyst*** 

Got it. And I know you guys said there wasn't any forward buying around tariffs and the like. But was there any activity, services activity, other activity that you found because of the fear of tariffs and the changes that were taking place that were a benefit or continuing to be a benefit? Like how should we think about - because it obviously occupied a ton of our mental well-being. But I'm just wondering how the - how customers behave. And if that continued or carried momentum or if it was a benefit in fiscal '25, that wouldn't be a benefit fiscal '26?

**Michael Alkire *- Premier, Inc. - President, CEO & Director*** 

Yes, it's a little bit - I would characterize it as more a focus on like the psyche of what's happening. So obviously, tariffs are incredibly dynamic as you are well aware and everybody on the call is well aware. As we've said in the past, our tariffs are firm for the term - I'm sorry, our contracts are firm for the term. So that means that for the most part, there's not necessarily going to be significant impacts from tariffs. We have this member-led contracting process as we have spoken about in the past. So this - when we talk about this, it doesn't mean that suppliers aren't coming and saying, hey, we've got issues with tariffs, we might want some price increase, those kinds of things. But the member led contracting process is really what dictates whether or not we decide to have a tariff or not. And I think that comes down to obviously what - if we have a healthy market, if there's multiple suppliers in the market and - many of them are not asking for tariff relief or any of that stuff. Obviously, then you're not - the tariffs are going to have a de-minimis impact on the business.

So I will just say that so far, things are pretty stable as it relates to tariffs. That does not mean there's not a lot of work that's actually happening in concert with our suppliers in concert with our members to minimize the impacts of these tariffs. So there is a lot of work happening under the sort of under the water level, if you will. But so far, the teams are working through these without having a significant impact on the healthcare systems.

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**Operator** 

Allen Lutz, Bank of America.

**Allen Lutz - *BofA Merrill Lynch Asset Holdings Inc - Analyst*** 

Glenn, you mentioned that you expect to return to revenue and EBITDA growth in fiscal '27. I know you talked about the increasing contract penetration and maybe a stabilization of revenue share backs. What is embedded or what needs to happen in fiscal '27 for revenue and EBITDA to increase. Can you just provide some high-level framing of what utilization has to do with revenue share back? Just any high-level thoughts would be helpful.

**Glenn Coleman *- Premier, Inc. - Chief Administrative and Financial Officer*** 

Yes, sure. I'll give you a couple of points on why we're confident in the recovery to growth in '27. So I think first and foremost, when we look at our enterprise license agreements and our software deals, we have a bit of a trough here in '26. We have fewer renewals coming due just based upon timing. That's going to pick up in 2027.

And so we're expecting an increase in our software business starting in 2027. Advisory, as we talked about, is going to continue to ramp into fiscal year '27. And I think we're expecting to see some good double-digit growth coming from the synergies of our clinical decision support business in IllumiCare. So those are areas, I would say, of growth that will continue to help us moving forward.

On the Supply Chain Services side, this gaf growth should continue we're seeing great momentum in our food and pharmacy portfolios. So 3% this year, we're expecting faster growth in '26. That should continue into 2027. So there's good momentum on our gross administrative fees. Both our digital supply chain and co-management business are growing double digits. That should continue as we go into 2027.

And then most importantly, you're going to have lower fee share headwinds, right? We'll be through the 2026 negotiations and those headwinds and still probably be a slight headwind in '27 will be much less than what we've seen in 2025 and 2026. So those are the key items. And as we look at our plans for 2027, now we're saying we expect to see a rebound back to growth across all of our key financial metrics.

Thanks for the question.

**Allen Lutz - *BofA Merrill Lynch Asset Holdings Inc - Analyst*** 

That's helpful. And then you mentioned last quarter, you were expecting a client termination payment in 4Q. Did that take place? And is there any way to size that?

**Glenn Coleman *- Premier, Inc. - Chief Administrative and Financial Officer*** 

Yes. So it did take place. We received the cash as well, and the sizing was previously given several quarters ago as part of our guidance increase for Supply Chain Services back at that point in time. I believe we raised our guidance by $15 million, and it was one of the components of the $15 million raise. So that just gives you a general idea about what that could be, but there's other areas as well. But - it was consistent with our expectations, and that was all booked and cash received in Q4.

**Operator** 

Richard Close, Canaccord Genuity.

**Richard Close - *Canaccord Genuity Corp - Analyst*** 

A lot of the questions I had on advisory were asked. But I'm curious, just the magnitude, the head count additions. Can you give any color there? And just curious how long those people take the ramp-up to be in productive?

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**Glenn Coleman *- Premier, Inc. - Chief Administrative and Financial Officer*** 

Yes. I'll start here and Dave Zito, I think you're still on, if you can maybe add some color. I think first and foremost, the reason why we're winning is the deep subject matter expertise we're building in our advisory business along with our tech enablement.

And we have ramped resources. We pretty much added roughly ten senior leaders across our business. We've got more people we're going to be adding here based upon the support needed for these advisory wins and what we're seeing in the funnel.

But I would expect probably another 20 people or so will be at it in the not-too-distant future. And these engagements, I would say, range everywhere from cost reduction, margin improvement, to revenue opportunities. So it's everything from revenue optimization, to clinical delivery, workforce optimization, supply chain optimization and those are areas that we're going after.

But Dave, did you want to add any more color?

**David Zito - *Premier, Inc. - President, Performance Services*** 

Yes. I would - just a couple of things. We've been making the investments since the beginning of the calendar year. And the additions of those ten people that were referenced really helped drive, again, partnering with the team - Premier team - that was here to build that pipeline and close those deals. So the people we're hiring now are really going to be deployed immediately to work. We're really staffing, as people come on board, we are deploying them right to project work. So ramp-up will not be an issue as we move forward. So right now, we're really trying to fill gaps in our capacity to deliver the work that we have sold. So ramp-up will be very positive and quick.

**Richard Close - *Canaccord Genuity Corp - Analyst*** 

Okay. As a follow-up, maybe on the tech side of the Performance Services, I'm just curious how you're viewing demand, I guess, post July 4 and the signing of the Big Beautiful Bill. I'm just curious with respect to maybe the SaaS offerings and then enterprise. I know you said there's not going to be many renewals here in fiscal '26 on the enterprise license. But - just any changes in demand since July 4? Or anything you can provide would be helpful.

**Michael Alkire *- Premier, Inc. - President, CEO & Director*** 

Yes. A couple of thoughts on that. And then again, Dave Zito if you'd like to add in, please do. So in general, I will tell you, there's still a lot of interest in our clinical decision support capability. So think of things around prior authorization, clinical coding and documentation and those kinds of things.

So because of the investments we've made, with Stanson and the additional capital outlay, those technologies are still doing - are still having a phenomenal or getting phenomenal interest in the market. And so - just as a quick reminder, AI-enabled machine learning, natural language processing. It's in a very efficient way to help these health systems with prior authorization and coding and documentation.

I think Dave and team are looking to continue to expand those capabilities given the success they've had so far. But I sense that there's a significant interest in a lot of that activity just because of the dynamics of the market with some of the slow pay stuff coming from payers and those kinds of things. And our capabilities really help offset that.

Secondarily, I will say that what's unique about Premier is that not only can we work with our health systems and benchmark their performance and have them understand how they're performing. But we've got this fantastic ability with advisory to drive significant change for those health systems.

And then we can use this technology really to sort of codify or leave as an artifact within the record, within the workflow, all the change that we've driven. So it's very unique. Some of the things that we can do to help drive performance improvement for these health systems.

Dave, I'm not sure if you have any other builds.

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**David Zito - *Premier, Inc. - President, Performance Services*** 

I would just - I'd echo the last thing you said. Basically, if you look at the way we've developed and deployed technology is to drive performance improvement. So we view the tools and I think as customers need to improve performance, they're looking for and we're deploying technology that will enable change as well as - so it's actually a driver of demand, not a - the current environment is a driver of demand, not a deterrent. And as long as we can demonstrate how our tech drives and supports enables change I think that our demand will increase.

**Operator** 

Eric Coldwell, Baird.

**Eric Coldwell *- Robert W. Baird & Co Inc - Analyst*** 

Your good answers to my first questions enticed to me to get back on and ask some more. So on the advisory deals, would we be thinking about something in the ballpark of $5 million a year on average is a typical sizing for what you would consider a large deal and then

**Glenn Coleman *- Premier, Inc. - Chief Administrative and Financial Officer*** 

Higher than that.

**Eric Coldwell *- Robert W. Baird & Co Inc - Analyst*** 

Okay. So the 25% growth in advisory off of $50 million to $100 million, the reason you're that makes sense so other areas of the business may be a bit weaker, so these are bigger deals that help offset challenges elsewhere it sounds.

**Glenn Coleman *- Premier, Inc. - Chief Administrative and Financial Officer*** 

Correct. And just to be clear to the point, so we are expecting our enterprise license deals to be down in 2026 because of fewer renewals. Advisory is helping to offset that. And based upon the midpoint of our guidance for Performance Services as a total segment, we are expecting to grow in fiscal year 2026. But it's driven by the advisory deals.

**Eric Coldwell *- Robert W. Baird & Co Inc - Analyst*** 

Yes. Okay. That's helpful. And then are there rev rec or profit triggers in these deals that we should be aware of, such as performance or milestone-based items or true-ups at the end of a fiscal year or a calendar year? Is there anything of that nature? Or is the billing and performance - profit performance - fairly ratable throughout the engagement.

**Glenn Coleman *- Premier, Inc. - Chief Administrative and Financial Officer*** 

No. There are milestones in these deals. And it's one of the reasons why the revenue recognition at least for fiscal year '26, will be more back-end loaded because we have to ramp the resources and as we hit the milestones, this will be later this year we'll start to recognize the revenue. So that's one of the dynamics about why Q1 is going to be a lower quarter than the second half of the year.

**Eric Coldwell *- Robert W. Baird & Co Inc - Analyst*** 

If I might, just one or two quick ones. So I'd really like to hear what you're doing. Could you give us some anecdotes of a unique advisory contract. And quite frankly, I've always struggled a bit with the difference between advisory and consulting. So maybe you could help parse out the nuance there between what maybe to a less informed person like myself, what is the difference between a consulting engagement and an advisory engagement?

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**Michael Alkire - *Premier, Inc. - President, CEO & Director*** 

So Dave, I'm going to ask you to join in here just a second. I think people use those terms interchangeably. When we talk about advisory though and the broader scope, Glenn hit this. It's about revenue optimization, clinical delivery, it's workflow, workforce and productivity and those kinds of things and then, obviously, all things supply chain.

But Dave Zito any builds?

**David Zito - *Premier, Inc. - President, Performance Services*** 

No, I would - answering the second part first. I would say consulting and advisory are the same. They're interchangeable in my mind. These are traditional consulting and they're performance improvement. Clients have large they estimate what they need to - how they need to improve their performance. They break it into categories, whether it's workforce or supplies or clinical or revenue cycle or strategic growth and then we develop strategies to achieve those - help them achieve their expectations and goals, and we deploy resources to partner with them to drive that change. They're very comprehensive in nature as they try to transform their business and modify their cost structure to perform in a new revenue world. So it's really a strategic and operational transformation of their business.

**Eric Coldwell *- Robert W. Baird & Co Inc - Analyst*** 

Dave that's helpful. Last one, we didn't seem to get any updates on the life sciences or pharma support businesses this quarter. Just curious what you're seeing on that front.

**Glenn Coleman *- Premier, Inc. - Chief Administrative and Financial Officer*** 

Yes. I think overall, that business is performing as we had expected. It was not a key driver of our results in the quarter. And so that's why we haven't called it out. But there's lots of exciting growth opportunities in terms of how we leverage our data and sell into life sciences companies. And that's a plan for us moving forward. We do expect that business to be one of the areas of growth for us in 2026 and beyond.

**Operator** 

This concludes our question-and-answer session and Premier's fiscal 2025 fourth quarter and full year conference call. Thank you for attending today's presentation. You may now disconnect.

## Exhibit 99.3

![Slide 1](g10282ex99_3s1g1.jpg)

Fiscal 2025 Fourth-Quarter Earnings Conference Call August 19, 2025 Exhibit 99.3

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![Slide 2](g10282ex99_3s2g1.jpg)

Forward-Looking Statements and Non-GAAP Financial Measures Forward-looking statements – Statements made in this presentation and accompanying webcast that are not statements of historical or current facts, including, but not limited to, those related to our ability to advance our business strategies and improve healthcare, our ability to transition to partners or wind down the remaining operations of Contigo Health and the potential costs and expenses associated therewith, the potential benefits of share repurchases made pursuant to the share repurchase authorization approved by our Board in 2024 (including the recently completed 2025 ASR), the payment of dividends at current levels or at all, guidance on expected future financial performance and assumptions underlying that guidance, and our expected effective income tax rate, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Premier to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on any forward-looking statements, the achievement of which cannot be guaranteed. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements in the conditional or future tenses or that include terms such as "believes," "belief," "expects," "estimates," "intends," "anticipates" or "plans" to be uncertain and forward-looking. Forward-looking statements may include comments as to Premier's beliefs and expectations regarding future events and trends affecting its business and are necessarily subject to risks and uncertainties, many of which are outside Premier's control. More information on risks and uncertainties that could affect Premier's business, achievements, performance, financial condition and financial results is included from time to time in the "Cautionary Note Regarding Forward-Looking Statements," "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of Premier's periodic and current filings with the SEC, including the information in those sections of Premier's Form 10-K for the year ended June 30, 2025, expected to be filed with the SEC shortly after the date of this presentation. Premier's periodic and current filings with the SEC are made available on Premier's website at investors.premierinc.com. Forward-looking statements speak only as of the date they are made, and Premier undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events that occur after that date, or otherwise. Non-GAAP financial measures – This presentation and accompanying webcast include certain "adjusted" and other "non-GAAP" financial measures, including free cash flow, as defined in the SEC's Regulation G. These measures are not in accordance with, or an alternative to, GAAP. This presentation and the Appendix to this presentation include schedules that reconcile the historical non-GAAP financial measures included in this presentation to the most directly comparable GAAP financial measures. You should carefully read Premier's earnings release and Annual Report on Form 10-K for the year ended June 30, 2025, expected to be filed shortly after this presentation, for definitions of Premier's non-GAAP financial measures and further explanation and disclosure regarding Premier's use of non-GAAP financial measures, and such information should be read in conjunction with this presentation. These materials are made available on the company's website at investors.premierinc.com.

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![Slide 3](g10282ex99_3s3g1.jpg)

Business Review Michael J. Alkire President and Chief Executive Officer Financial Review Glenn Coleman Chief Administrative and Financial Officer

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![Slide 4](g10282ex99_3s4g1.jpg)

Key Highlights Strong finish to fiscal year 2025 Overall revenue and profitability for the fourth quarter exceeded our expectations Better than anticipated performance in Supply Chain Services despite GPO fee share headwinds Providing initial fiscal year 2026 guidance and outlook Making progress to reinvigorate Performance Services Meaningful momentum in advisory business; recently signed four large deals and have a strong pipeline Recently acquired IllumiCare to strengthen our ability to deliver real-time insights at the point of care Supply Chain Services continues to deliver stability and long-term value for members Seeing increased demand from members looking for margin improvement solutions amid ongoing cost pressures, reimbursement uncertainty, and potential tariff impacts Pharmacy and food portfolios continue to serve as key differentiators in our GPO

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Fiscal-Year 2025 Fourth Quarter Financial Overview [1] Metric Q4 FY25 Actual Results Q4 FY25 Implied by the Midpoint of Guidance Difference Consolidated Net Revenue $262.9M N/A N/A Consolidated Net Revenue excluding Contigo Health [2] $258.0M $247.0M $11.0M Supply Chain Services Net Revenue $170.0M $149.0M $21.0M Performance Services Net Revenue excluding Contigo Health $88.0M $98.1M $(10.1M) GAAP Net Income from Continuing Operations $18.0M N/A N/A GAAP EPS from Continuing Operations $0.22 N/A N/A Adjusted EBITDA excluding Contigo Health [2] $71.1M $61.7M $9.4M Adjusted Net Income [2] $35.7M $31.0M $4.7M Adjusted EPS excluding Contigo Health [2] $0.46 $0.31 $0.15 [1] On October 1, 2024, the company announced that it had divested the S2S Global direct sourcing business. As such, and unless stated otherwise, all results presented in this presentation reflect those of continuing operations. In addition, as the company's efforts to transfer to partners or wind down certain components of the Contigo Health business remain ongoing, results presented in this presentation continue to include contributions from that business. However, because of the expected transition and/or wind-down, the company is providing certain financial measures that exclude contributions from that business, and the Appendix includes tables that reconcile the impact of the Contigo Health business on certain financial measures in the periods presented. [2] These are non-GAAP financial measures. Refer to the Appendix for reconciliations of these measures to the corresponding GAAP measures.

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Strong financial position with a flexible balance sheet Cash flow from operations of $417.8 million Free cash flow[1] of $180.5 million Cash and cash equivalents of $83.7 million Balance of $280.0 million on $1.0 billion unsecured, revolving credit facility Annual TRA benefit[2] of ~$100.0 million began in July 2025 [1]This is a non-GAAP financial measure. Refer to the Appendix for a reconciliation of free cash flow to the corresponding GAAP measure. [2] The company made the final payment associated with the termination of the Tax Receivable Agreement in connection with the company's August 2020 restructure in the fourth quarter of fiscal-year 2025. These payments have been approximately $100.0 million per year and will no longer negatively impact the company's free cash flow starting on July 1, 2025. Repurchased $800 million of Class A common stock under the company's $1 billion share repurchase authorization, which expired on June 30, 2025 Paid dividends of $77.4 million to stockholders in fiscal-year 2025 Dividend yield of nearly 4% in fiscal-year 2025 Board declared a dividend of $0.21 per share payable in September 2025 As of and/or for the fiscal year ended June 30, 2025

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Fiscal-Year 2026 Guidance Guidance Metric Guidance Range\* (as of August 19, 2025) Total Net Revenue Excluding Contigo Health $940 million to $1 billion Segment Revenue: Supply Chain Services Performance Services Excluding Contigo Health $590 million to $620 million $350 million to $380 million Adjusted EBITDA $230 million to $245 million Adjusted Net Income $110 million to $120 million Adjusted EPS $1.33 to $1.43 Diluted Weighted Average Shares 81 million to 83 million Fiscal-year 2026 guidance is based on the realization of the following key assumptions: Net administrative fees revenue of $520 million to $540 million, which includes $65 million to $75 million in revenue related to non-healthcare member purchasing Supply Chain Services segment software licenses, other services and support revenue of $70 million to $80 million Capital expenditures of approximately $80 million Effective income tax rate in the range of 23% to 25% Cash income tax rate of less than 5% Free cash flow conversion of 70% to 80% of adjusted EBITDA \* Adjusted EBITDA, adjusted net income, adjusted EPS and free cash flow are forward-looking non-GAAP measures. Premier does not provide a reconciliation of non-GAAP forward-looking guidance as certain financial information, the probable significance of which cannot be determined, is not available and cannot be reasonably estimated. Refer to "Use of Forward-Looking Non-GAAP Measures" on slide 12 for additional explanation. Also, Total Net Revenue Excluding Contigo Health is a forward-looking non-GAAP measure. Refer to "Changes Impacting Fiscal-Year 2025 Reporting and Fiscal-Year 2026 Guidance" on slide 10 as well as slide 12 for additional explanation.

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First Quarter Fiscal-Year 2026 Guidance Guidance Metric Guidance Range\* (as of August 19, 2025) Total Net Revenue Excluding Contigo Health $230 million to $245 million Adjusted EBITDA $45 million to $50 million Adjusted EPS $0.27 to $0.32 \* Adjusted EBITDA and adjusted EPS are forward-looking non-GAAP measures. Premier does not provide a reconciliation of non-GAAP forward-looking guidance as certain financial information, the probable significance of which cannot be determined, is not available and cannot be reasonably estimated. Refer to "Use of Forward-Looking Non-GAAP Measures" on slide 12 for additional explanation. Also, Total Net Revenue Excluding Contigo Health is a forward-looking non-GAAP measure. Refer to "Changes Impacting Fiscal-Year 2025 Reporting and Fiscal-Year 2026 Guidance" on slide 10 as well as slide 12 for additional explanation.

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Appendix

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Items Impacting Fiscal-Year 2025 Reporting and Fiscal-Year 2026 Guidance On October 1, 2024, the company announced that it had divested its ownership position in the S2S Global direct sourcing business. As such, and unless stated otherwise, all results presented in this presentation reflect those of continuing operations. As the company continues to own and operate Contigo Health's remaining businesses, results presented in this presentation include contributions from these remaining businesses. The company expects that these remaining businesses will be substantially, if not entirely, transitioned to partners or wound down by December 31, 2025. As such, the company is providing certain financial measures in this presentation that exclude contributions from these remaining businesses, including in this Appendix, that reconciles the impact of Contigo Health on certain financial measures in the quarter. In addition, because of the expected transition and/or wind down, guidance presented in this presentation excludes financial contributions from these remaining businesses. We believe that providing supplemental non-GAAP financial measures that align with our financial guidance allow for a better understanding of that guidance. In conjunction with the evolution of our digital supply chain strategy to more tightly align the digital invoicing and payables automation business' strategic and operational capabilities with our GPO, we have determined it is more appropriate to report this business as part of the Supply Chain Services segment beginning in fiscal-year 2025. Based upon shareholder and analyst feedback, we decided it is appropriate, following the close of the sale of our non-healthcare GPO operations, to exclude the impact of the OMNIA transaction including associated revenues sold, imputed interest expense and cash taxes paid on proceeds received from our non-GAAP profitability measures. Accordingly, effective for fiscal-year 2025, we present our adjusted EBITDA, adjusted net income, adjusted EPS and free cash flow on a comparable basis, excluding these impacts from the OMNIA transaction.

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Reconciliation of Certain Financial Measures to Adjust for Contigo Health Note: Net Revenue excluding Contigo Health, Adjusted EBITDA, Adjusted EBITDA excluding Contigo Health, Adjusted EPS and Adjusted EPS excluding Contigo Health are non-GAAP financial measures. Refer to the later slides in this Appendix for reconciliations of Adjusted EBITDA, Adjusted EBITDA excluding Contigo Health, Adjusted EPS and Adjusted EPS excluding Contigo Health to the corresponding GAAP measures. Supplemental Financial Information Reconciliation of Certain Financial Measures to Adjust for Contigo Health (Unaudited) (In thousands) Performance Services Total Premier, Inc. Three Months Ended June 30, Year Ended June 30, Three Months Ended June 30, Year Ended June 30, 2025 2024 2025 2024 2025 2024 2025 2024 Net Revenue (a) $92,857 $115,838 $381,608 $446,641 $262,857 $300,246 $1,012,647 $1,136,009 Less: Contigo Health (4,885) (8,585) (26,694) (39,846) (4,885) (8,585) (26,694) (39,846) Net Revenue excluding Contigo Health (a) $87,972 $107,253 $354,914 $406,795 $257,972 $291,661 $985,953 $1,096,163 Adjusted EBITDA $68,856 $104,013 $253,120 $388,985 Less: Contigo Health (b) 2,252 2,032 7,315 7,206 Adjusted EBITDA excluding Contigo Health $71,108 $106,045 $260,435 $396,191 Adjusted EPS $0.43 $0.61 $1.46 $2.08 Less: Contigo Health (b) 0.03 0.03 0.08 0.09 Adjusted EPS excluding Contigo Health $0.46 $0.64 $1.54 $2.17 (a) Performance Services includes intersegment revenue that is eliminated in consolidation. (b) Contigo Health was in a loss position which results in an increase to adjusted EBITDA and adjusted EPS when excluding Contigo Health.

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Use of Forward-Looking Non-GAAP Measures The company does not meaningfully reconcile guidance for non-GAAP adjusted EBITDA, non-GAAP adjusted net income and non-GAAP adjusted earnings per share to net income attributable to stockholders or earnings per share attributable to stockholders (and accordingly does not meaningfully reconcile free cash flow guidance, which is based on adjusted EBITDA) because the company cannot provide guidance for the more significant reconciling items between net income attributable to stockholders and each of these measures without unreasonable effort. This is due to the fact that future period non-GAAP guidance includes adjustments for items not indicative of our core operations, which may include, without limitation, items included in the supplemental financial information for reconciliation of reported GAAP results to non-GAAP results. Such items include, but are not limited to, strategic- and acquisition-related expenses for professional fees; mark to market adjustments for put options and contingent liabilities; gains and losses on stock-based performance shares; adjustments to income tax provision (such as valuation allowance adjustments and settlements of income tax claims); items related to corporate and facility restructurings; and certain other items the company believes to be non-indicative of its ongoing operations. Such adjustments may be affected by changes in ongoing assumptions, judgements, as well as nonrecurring, unusual or unanticipated charges, expenses or gains/losses or other items that may not directly correlate to the underlying performance of our business operations. The exact amount of these adjustments is not currently determinable but may be significant. In addition, with respect to adjustments in our guidance for Contigo Health, the company does not meaningfully reconcile guidance to GAAP measures because Contigo Health is expected to be transitioned to partners or wound down.

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Fiscal 2025 and 2024 Non-GAAP Reconciliations Supplemental Financial Information Reconciliation of Net Income from Continuing Operations to Adjusted EBITDA Reconciliation of Operating Income to Segment Adjusted EBITDA Reconciliation of Net Income Attributable to Stockholders to Adjusted Net Income (Unaudited) (In thousands) Three Months Ended June 30, Year Ended June 30, 2025 2024 2025 2024 Net income from continuing operations $18,018 $60,861 $72,734 $104,219 Interest expense, net 6,305 73 17,223 662 Income tax expense 7,083 25,723 25,315 42,302 Depreciation and amortization 20,052 20,636 79,442 81,728 Amortization of purchased intangible assets 9,499 9,794 38,189 47,026 EBITDA 60,957 117,087 232,903 275,937 Stock-based compensation 7,669 205 23,700 23,876 Acquisition- and disposition-related expenses 2,520 4,117 6,943 12,612 Strategic initiative and restructuring-related expenses 6,914 (119) 13,007 2,850 Operating income from revenues sold to OMNIA (16,840) (15,624) (62,469) (55,283) Equity in net (income) loss of unconsolidated affiliates (123) (1,344) (11,972) 295 Other non-operating gains (3,255) — (79,826) (11,046) Impairment of assets 10,810 — 144,481 140,053 Other reconciling items, net 204 (309) (13,647) (309) Adjusted EBITDA $68,856 $104,013 $253,120 $388,985 Less: Contigo Health (a) 2,252 2,032 7,315 7,206 Adjusted EBITDA excluding Contigo Health $71,108 $106,045 $260,435 $396,191 (a) Contigo Health was in a loss position which results in an increase to adjusted EBITDA when excluding Contigo Health.

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Fiscal 2025 and 2024 Non-GAAP Reconciliations Supplemental Financial Information Reconciliation of Net Income from Continuing Operations to Adjusted EBITDA Reconciliation of Operating Income to Segment Adjusted EBITDA Reconciliation of Net Income Attributable to Stockholders to Adjusted Net Income (Unaudited) (In thousands) Three Months Ended June 30, Year Ended June 30, 2025 2024 2025 2024 Income before income taxes $25,101 $86,584 $98,049 $146,521 Equity in net (income) loss of unconsolidated affiliates (123) (1,344) (11,972) 295 Interest expense, net 6,305 73 17,223 662 Other income, net (6,419) (2,332) (102,184) (20,832) Operating income 24,864 82,981 1,116 126,646 Depreciation and amortization 20,052 20,636 79,442 81,728 Amortization of purchased intangible assets 9,499 9,794 38,189 47,026 Stock-based compensation 7,669 205 23,700 23,876 Acquisition- and disposition-related expenses 2,520 4,117 6,943 12,612 Strategic initiative and restructuring-related expenses 6,914 (119) 13,007 2,850 Operating income from revenues sold to OMNIA (16,840) (15,624) (62,469) (55,283) Deferred compensation plan expense 3,165 1,400 4,603 8,769 Impairment of assets 10,810 — 144,481 140,053 Other reconciling items, net 203 623 4,108 708 Adjusted EBITDA $68,856 $104,013 $253,120 $388,985 SEGMENT ADJUSTED EBITDA Supply Chain Services $89,986 $109,617 $326,902 $409,669 Performance Services 17,170 32,820 60,692 113,845 Total segment adjusted EBITDA 107,156 142,437 387,594 523,514 Corporate (38,300) (38,424) (134,474) (134,529) Adjusted EBITDA $68,856 $104,013 $253,120 $388,985

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Fiscal 2025 and 2024 Non-GAAP Reconciliations Supplemental Financial Information Reconciliation of Net Income from Continuing Operations to Adjusted EBITDA Reconciliation of Operating Income to Segment Adjusted EBITDA Reconciliation of Net Income Attributable to Stockholders to Adjusted Net Income (Unaudited) (In thousands) Three Months Ended June 30, Year Ended June 30, 2025 2024 2025 2024 Net income attributable to stockholders $18,435 $60,676 $20,269 $119,544 Net loss (income) from discontinued operations, net of tax 137 256 41,901 (2,500) Income tax expense 7,083 25,723 25,315 42,302 Amortization of purchased intangible assets 9,499 9,794 38,189 47,026 Stock-based compensation 7,669 205 23,700 23,876 Acquisition- and disposition-related expenses 2,520 4,117 6,943 12,612 Strategic initiative and restructuring-related expenses 6,914 (119) 13,007 2,850 Operating income from revenues sold to OMNIA (16,840) (15,624) (62,469) (55,283) Equity in net (income) loss of unconsolidated affiliates (123) (1,344) (11,972) 295 Other non-operating gains (3,255) — (79,826) (11,046) Impairment of assets 10,810 — 144,481 140,053 Other reconciling items, net 4,181 4,647 16,451 6,087 Adjusted income before income taxes 47,030 88,331 175,989 325,816 Income tax expense on adjusted income before income taxes 11,287 23,849 42,237 87,970 Adjusted net income $35,743 $64,482 $133,752 $237,846

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Fiscal 2025 and 2024 Non-GAAP Reconciliations Supplemental Financial Information Reconciliation of Net Cash Provided by Operating Activities from Continuing Operations to Free Cash Flow (Unaudited) (In thousands) Year Ended June 30, 2025 2024 Net cash provided by operating activities from continuing operations $417,809 $278,143 Early termination payments to certain former limited partners that elected to execute a Unit Exchange Agreement (101,524) (99,665) Purchases of property and equipment (82,649) (81,189) Cash payments to OMNIA for the sale of future revenues (53,107) (31,535) Cash tax payments on proceeds received from the sale of future revenues — 162,292 Free cash flow $180,529 $228,046

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Fiscal 2025 and 2024 Non-GAAP Reconciliations Supplemental Financial Information Reconciliation of GAAP EPS to Adjusted EPS (Unaudited) (In thousands, except per share data) Three Months Ended June 30, Year Ended June 30, 2025 2024 2025 2024 Net income attributable to stockholders $18,435 $60,676 $20,269 $119,544 Net loss (income) from discontinued operations, net of tax 137 256 41,901 (2,500) Income tax expense 7,083 25,723 25,315 42,302 Amortization of purchased intangible assets 9,499 9,794 38,189 47,026 Stock-based compensation 7,669 205 23,700 23,876 Acquisition- and disposition-related expenses 2,520 4,117 6,943 12,612 Strategic initiative and restructuring-related expenses 6,914 (119) 13,007 2,850 Operating income from revenues sold to OMNIA (16,840) (15,624) (62,469) (55,283) Equity in net (income) loss of unconsolidated affiliates (123) (1,344) (11,972) 295 Other non-operating gains (3,255) — (79,826) (11,046) Impairment of assets 10,810 — 144,481 140,053 Other reconciling items, net 4,181 4,647 16,451 6,087 Adjusted income before income taxes 47,030 88,331 175,989 325,816 Income tax expense on adjusted income before income taxes 11,287 23,849 42,237 87,970 Adjusted net income $35,743 $64,482 $133,752 $237,846

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Fiscal 2025 and 2024 Non-GAAP Reconciliations Supplemental Financial Information Reconciliation of GAAP EPS to Adjusted EPS (Unaudited) (In thousands, except per share data) Three Months Ended June 30, Year Ended June 30, 2025 2024 2025 2024 Weighted average: Basic weighted average shares outstanding 82,378 104,838 91,228 113,791 Dilutive shares 1,213 758 689 617 Weighted average shares outstanding - diluted 83,591 105,596 91,917 114,408 Basic earnings per share attributable to stockholders $0.22 $0.58 $0.22 $1.05 Net loss (income) from discontinued operations, net of tax — — 0.46 (0.02) Income tax expense 0.09 0.25 0.28 0.37 Amortization of purchased intangible assets 0.12 0.09 0.42 0.41 Stock-based compensation 0.09 — 0.26 0.21 Acquisition- and disposition-related expenses 0.03 0.04 0.08 0.11 Strategic initiative and restructuring-related expenses 0.08 — 0.14 0.03 Operating income from revenues sold to OMNIA (0.20) (0.15) (0.68) (0.49) Equity in net (income) loss of unconsolidated affiliates — (0.01) (0.13) — Other non-operating gains (0.04) — (0.88) (0.10) Impairment of assets 0.13 — 1.58 1.23 Other reconciling items, net 0.06 0.04 0.18 0.05 Impact of corporation taxes (0.14) (0.23) (0.46) (0.77) Impact of dilutive shares (0.01) — (0.01) — Adjusted earnings per share $0.43 $0.61 $1.46 $2.08 Less: Contigo Health (a) 0.03 0.03 0.08 0.09 Adjusted earnings per share excluding Contigo Health $0.46 $0.64 $1.54 $2.17 (a) Contigo Health was in a loss position which results in an increase to adjusted earnings per share when excluding Contigo Health.