# EDGAR Filing Document

**Accession Number:** 0001799191
**File Stem:** 0001079973-25-001724
**Filing Date:** 2025-11
**Character Count:** 28963
**Document Hash:** 9bccf3b2c091a14374bbdd89b1f1a511
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001079973-25-001724.hdr.sgml**: 20251114

**ACCESSION NUMBER**: 0001079973-25-001724

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 40

**CONFORMED PERIOD OF REPORT**: 20251114

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251114

**DATE AS OF CHANGE**: 20251114

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Oncology Institute, Inc.
- **CENTRAL INDEX KEY:** 0001799191
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-OFFICES & CLINICS OF DOCTORS OF MEDICINE [8011]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 843562323
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39248
- **FILM NUMBER:** 251480953

**BUSINESS ADDRESS:**
- **STREET 1:** 18000 STUDEBAKER RD
- **STREET 2:** SUITE 800
- **CITY:** CERRITOS
- **STATE:** CA
- **ZIP:** 90703
- **BUSINESS PHONE:** 562-735-3226

**MAIL ADDRESS:**
- **STREET 1:** 18000 STUDEBAKER RD
- **STREET 2:** SUITE 800
- **CITY:** CERRITOS
- **STATE:** CA
- **ZIP:** 90703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DFP HEALTHCARE ACQUISITIONS CORP.
- **DATE OF NAME CHANGE:** 20200108

?xml version='1.0' encoding='ASCII'? Current Report

**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) November 14, 2025**

**___________________________________**

**THE ONCOLOGY INSTITUTE, INC.** 

(Exact name of registrant as specified in its charter)

**___________________________________**

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| | | |
|:---|:---|:---|
| **Delaware** | **001-39248** | **84-3562323** |
| (State or other jurisdiction<br> of incorporation) | (Commission File Number) | (I.R.S. Employer<br> Identification No.) |

---

---

| | |
|:---|:---|
| **18000 Studebaker Road, Suite 800, Cerritos, CA** | **90703** |
| (Address of principal executive offices) | (Zip Code) |

---

Registrant's telephone number, including area code: **(562) 735-3226**

(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 communication 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 communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communication 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 Symbol(s)** | **Name of each exchange on which registered** |
| Common stock, par value $0.0001 | TOI | The Nasdaq Stock Market LLC |
| Redeemable warrants, each whole warrant exercisable for one share of Common stock, each at an exercise price of $11.50 per share | TOIIW | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §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 7.01. Regulation FD Disclosure.**

The Oncology Institute, Inc. (the "Company") has prepared an investor presentation (the "Investor Presentation") to use in meetings with investors. A copy of the Investor Presentation is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information contained in this Item 7.01, including Exhibit 99.1, is furnished and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, and such information shall not be deemed to be incorporated by reference into any of the Company's filings under the Securities Act or the Exchange Act.

**Item 9.01. Financial Statements and Exhibits.**

**(d) Exhibits**

---

| | |
|:---|:---|
| **Exhibit<br> No.** | **Description** |
| 99.1 | [Investor Presentation, dated November 14, 2025.](ex99x1.htm) |
| 104 | Cover Page Interactive Data File (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.

---

| | | |
|:---|:---|:---|
| Dated: November 14, 2025 | **THE ONCOLOGY INSTITUTE, INC.** | **THE ONCOLOGY INSTITUTE, INC.** |
|  | By: | /s/ Mark Hueppelsheuser |
|  |  | Mark Hueppelsheuser |
|  |  | General Counsel |

---

## Exhibit 99.1

Exhibit 99.1

![](image_001.jpg)

1 THE ONCOLOGY INSTITUTE OF HOPE & INNOVATION (µáÌÒºÈŉ LÈÌµÒyÒ¡ºµ <ºá´…ÈŉĉćĉČ

![](image_002.jpg)

2 THE ONCOLOGY INSTITUTE OF HOPE & INNOVATION §Ö‹·~§½"Ò Some of the information in this presentation is not historical in nature and may constitute forward - looking statements, which ar e made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward - looking terminology s uch as "believes," "expects," "anticipates," "may," "will," "should," "seeks," "approximately," "intends," "plans," "estimates," or the negative of these words or other comparab le terminology. The discussion of financial trends, strategy, plans or intentions may also include forward - looking statements. These forward - looking statements involve risks and uncertaintie s that could cause actual results to differ materially from those projected, anticipated or implied by such statements. Although it is not possible to predict or identify all such ris ks and uncertainties, they may include, but are not limited to, those described in the Company's annual, quarterly and current reports (i.e., Form 10 - K, Form 10 - Q and Form 8 - K) as filed or furnished with the Securities and Exchange Commission (SEC). You are cautioned not to place undue reliance on any such forward - looking statements, which speak only as of t he date such statements were first made. To the degree financial information is included in this presentation, it is in summary form only and must be considered in the context of the full details provided in the Company's most recent annual, quarterly or current report as filed or furnished with the SEC. The Company's SEC reports are available at https://theoncologyinstitute.com/ under the "Investor Relations" tab. Except to the extent required by law, the Company undertakes no obligation to publicly release the result of any revisions to these forward - looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events. Non - GAAP Financial Measures To supplement the Company's financial results and guidance presented in accordance with U.S. generally accepted accounting pr inc iples (GAAP), the company uses certain non - GAAP financial measures in this presentation. The company believes that this non - GAAP financial measure provides useful suppleme ntary information to, and facilitates additional analysis by, investors and analysts. Unaudited Financial Information This presentation contains unaudited financial information. The unaudited financial information has been prepared on the same ba sis as the Company's audited financial statements and, in the opinion of management, reflects all adjustments necessary for the fair presentation of the unaudited financial in for mation. However, the unaudited financial information contained in this presentation is preliminary and may be subject to change. Accordingly, such financial information may be ad jus ted or may be presented differently in periodic reports or other filings filed by the Company with the Securities and Exchange Commission, and such differences may be materi al. In addition, past performance is not a guarantee or indication of future financial condition and/or results of operations and should not be relied upon for such reason. FORWARD - LOOKING STATEMENTS AND NON - GAAP FINANCIAL MEASURES

![](image_003.jpg)

3 THE ONCOLOGY INSTITUTE OF HOPE & INNOVATION Large TAM, with long - term growth driven by secular trends 18 - year history of differentiated care delivery, controlling costs and improving outcomes Leading national oncology - focused VBC Platform Management team with deep industry experience 20%+ revenue growth in 2025, on track for EBITDA positive 4Q25 Multiple growth channels across diversified business model 01 02 03 04 05 06 (µáÌÒ´µÒŉ '¡œ®¡œ ÒÌ Notes: (1) Adjusted EBITDA is a non - GAAP measure. Please see the appendix for a reconciliation to the nearest GAAP measure

![](image_004.jpg)

4 THE ONCOLOGY INSTITUTE OF HOPE & INNOVATION YA(ŉyÒŉyŉœ®yµ† Values Mission • Patient - first • Physician - led • Deep payor collaboration • Healing and empowering cancer patients through compassion, innovation, and state - of - the - art medical care • Highest - level care in the community: medical, infusion, radiation, research, and specialty pharmacy • Hybrid employed and MSO provider networks Operational Philosophy The leading value - based, specialty platform for patients and payors in oncology

![](image_005.jpg)

5 THE ONCOLOGY INSTITUTE OF HOPE & INNOVATION YA(ŉ¡Ìŉyŉ ¡œ Ĳ œÈºâÒ ĝŉ›Ö®® Ĳ ÌÈá¡†ĝŉáy®Ö Ĳ …yÌ‹ŉºµ†º®ºœèŉÅÈºá¡‹È Years in business 1.9+ million Value - based lives Active major payor contracts (across Capitation and FFS) 60+ Patient visits in YTD 3Q25 260K+ 16% 31% 52% 1% 18 Revenue ($ millions) - 25.806M - 35.695M Specialty Pharmacy Capitation Fee for Service Clinical Research and Other 2021 2022 2023 2024 2025E\* 199M 252M 324M 393M 500M \* Represents mid - point of TOI 2025 guidance (unaudited) Revenue Mix (%) SC1

![](image_006.jpg)

6 THE ONCOLOGY INSTITUTE OF HOPE & INNOVATION 5yÈœŉyµ‹ŉœÈºâ¡µœŉºµ†º®ºœèŉY;ĝŉâ¡Ò ŉ´¡Ì Ĳ y®¡œµ´µÒŉº›ŉ¡µ†µÒ¡áÌŉyµ‹ŉ ¡œ ŉ áyÈ¡y…¡®¡Òèŉ¡µŉÅÈÌ†È¡…¡µœŉÅyÒÒÈµÌ Estimated 2020 U.S. oncology spend - ~4% of total healthcare spend - Oncology is the largest category of specialty drug spend, representing ~1/3 specialty drug cost +$200 BN Projected CAGR for U.S. oncology drug spend growth 2025 - 2028 10%+ of U.S. adults have been diagnosed with cancer 9.7% ]ĜSĜŉAµ†º®ºœèŉSÅµ‹ŉ#ÈºâÒ ŉ ºµÒ¡µÖÌŉÒºŉ††®ÈyÒĞ Sources: National Cancer Institute; Cancer Epidemiology, Biomarkers & Prevention – American Association For Cancer Research, July 2020; Na tional Center for Health Statistics; IQVIA Institute; National Health Expenditure Data – CMS; Spending on Health: Latest Trends – OECD, June 2018. of oncology practice revenue generated on the resale of drugs - Payor/provider mis - alignment - Providers incentivized to deliver maximally - expensive drug regimens ~90% YA(ŉ¡ÌŉyŉÌ†y®‹ŉÌº®ÖÒ¡ºµŉy‹‹ÈÌÌ¡µœŉÒ ŉÖµÌÖÌÒy¡µy…®ŉ†ºÌÒŉÒÈµ‹ŉ¡µŉºµ†º®ºœè

![](image_007.jpg)

7 THE ONCOLOGY INSTITUTE OF HOP

E & INNOVATION Pursue Strategic M&A AÖÈŉœÈºâÒ ŉ´º‹®ŉÌÒyÈÒÌŉâ¡Ò ŉ†yÅ¡ÒyÒ¡ºµĝŉyµ‹ŉ¡Ìŉµ yµ†‹ŉ…èŉÅ yÈ´y†èŉyµ‹ŉyµ†¡®®yÈèŉÌÈá¡†Ì Add Contracts and Value - Based Lives • Medical oncology Radiation oncology • Adjacent provider or network platforms Drive Specialty Pharmacy Attachment Increase Ancillary Services 102 2024 - Q3 114 2024 - Q4 121 2025 - Q1 153 2025 - Q2 180 2025 - Q3 Scripts per 1K Clinic Visits 01 02 $10 M $11 M Capitation Gross Revenue Added ($ millions) 2024 3Q25 YTD 03 04 • Clinical trials • Behavioral • Blood transfusions • Non - oncology infusion

![](image_008.jpg)

8 THE ONCOLOGY INSTITUTE OF HOPE

& INNOVATION Specialty benefits manager Curate network of independent physician offices where patients can receive treatment Patient call center Manage formulary of approved drugs Review and authorize prescribed care plans Receive and pay claims Direct care delivery º´ÅÈ µÌ¡áŉ†º´´Öµ¡Òè Ĳ …yÌ‹ŉ†yÈŉ´º‹®ŉy®®ºâÌŉăç¡…¡®¡Òèŉ¡µŉ ÅyèºÈŉ†ºµÒÈy†Ò¡µœ Directly employ community oncologists Conduct clinical research and facilitate virtual behavioral health Fill oral and self - injectable prescriptions through in - house specialty pharmacy Operate infusion centers Operate linear accelerator facilities for radiosurgery

![](image_009.jpg)

9 THE ONCOLOGY INSTITUTE OF PE & INNOVATION YA(ļÌŉÈyÅ¡‹®è Ĳ œÈºâ¡µœŉÌÅ†¡y®ÒèŉÅ yÈ´y†èŉ¡ÌŉyµŉyÒÒÈy†Ò¡áŉyÒÒy† ´µÒŉÌÈá¡†ŉ›ºÈŉ ÅyÒ¡µÒÌŉyµ‹ŉÅyèºÈÌ Specialty Pharmacy # of Scripts • Today, specialty pharmacy ~100% utilized for in - office or mail - order dispensing for patients in TOI care • Future use cases include: • TOI's specialty pharmacy is a convenient and affordable option for patients and network providers, while driving strong economics for TOI 8,335 8,468 11,342 21,022 41,288 3Q25 Annualized 2021 2022 2023 2024 Scripts per 1K Clinic Visits 102 2024 - Q3 114 2024 - Q4 121 2025 - Q1 153 2025 - Q2 180 2025 - Q3 • Distributing drugs to MSO partners without procurement capabilities • Operating standalone specialty pharmacy • Lowering patient out - of - pocket copays • Improving medication regimen adherence and compliance • Reducing cost to payors vs. independent specialty pharmacies

![](image_010.jpg)

10 THE ONCOLOGY INSTITUTE OF HOPE & INNOVATION YA(ŉ yÌŉyŉµyÒ¡ºµy®ŉ›ººÒÅÈ¡µÒĝŉâ¡Ò ŉyŉ‹¡áÈÌ¡Ă‹ŉ´´…Èŉ´¡çŉ 04 Lives by State Lives by Line of Business Lives by Contract Type 89.7% 2.7% 1.3% 0.3% 6.1% OR CA NV FL AZ Commercial Medicare Medicaid UM 29.2% 19.2% 50.1% 1.5% 65.8% 25.4% 5.6% 1.7% 1.5% Narrow Network - Full Cap Narrow Network – Professional Only Open Network SubCap UM Key Partners Managed Care Organizations Independent Physician Associations Delegated Provider Groups

![](image_011.jpg)

11 THE ONCOLOGY INSTITUTE OF HOPE

& INNOVATION Future of TOI Value - based Traditional Narrow Network Capitation Fee for Service Delegation, Open - Network Capitation Expected MLR Performance ~65 - 70% N/A ~80 - 85% Description TOI acts as exclusive oncology provider under a payor (managed care, IPA, or delegated provider) TOI generates organic referrals and bills payor for care provided TOI manages entire oncology benefit for payor, from network design to payment adjudication TAM Medium Medium Large Key Benefits • Recurring fixed payments • High margin, due to tightly - controlled populations • Offered by every payor • Rewards high - utilizing physicians • Recurring fixed payments • Highly scalable • Higher revenue per patient due to hybrid employed and network model TOI Revenue (YTD 3Q25) $49M $300 million (Fee For Service and Pharmacy) $7M ]Ì¡µœŉăç¡…®ŉ†ºµÒÈy†Ò¡µœŉ´º‹®ÌĝŉYA(ŉ†yµŉ†yÅ¡ÒyÒŉâ¡Ò ŉy®®ŉÅyÈÒµÈÌŉy†ÈºÌÌŉ yµèŉ´yÈ¬Ò

![](image_012.jpg)

12 THE ONCOLOGY INSTITUTE OF HOPE & INNOVATION ÈyÒ¡µœŉÅÈºáµŉÈÌÖ®ÒÌĞŉÇÖy®ŉºÈŉ…ÒÒÈŉ†yµ†Èŉ†yÈŉºÖÒ†º´ÌĝŉyÒŉ®ÌÌŉ†ºÌÒŉ ÒºŉÅyèºÈÌŉyµ‹ŉÅyÒ¡µÒÌ Superior Cost Outcomes… … With Strong Quality Metrics TOI has a model that achieves the same or better oncology outcomes at a lower cost ~70% Overall MLR 1 ~23% Typical payor savings in year 1 of TOI contract 2 29% Lower Inpatient Admissions 1 35% Improvement in Patient Satisfaction with Care 1 29% Lower Inpatient Admissions 1 33% Fewer ER Visits Among Newly - Diagnosed Patients 1 3 of 4 CMS MIPS Quality Measures TOI outperforms avg. provider 4.6 out of 5 Patient Satisfaction Rating 3 >25% Lower Median Total Healthcare Costs for Patients 1 ~5% Typical TOI capitation annual price escalator 123% Improved Patient Satisfaction with Overall Health 1 33% Fewer ER Visits Among Newly - Diagnosed Patients 1 1 Based on study on TOI patient population conducted by researchers at Stanford University in collaboration with the American Society of Clinical Oncology, and published in the Journal of Oncology Practice in Septemb er 2019 titled "Lay Health Worker - Led Cancer Symptom Screening Intervention and the Effect on Patient - Reported Satisfaction, Health Status, Health Care Use , and Total Costs: Results from a Tri - Part Collaboration" 2 Average weighted payor savings for new TOI capitation contracts signed 2024 and 3Q25 YTD 3 Average patient rating across >3,500 Google Reviews; also comparable to 90.7 Press Ganey score for 2024

![](image_013.jpg)

13 THE ONCOLOGY INSTITUTE OF HOPE

& INNOVATION Improved Patient Service and Access More Efficient Collections Optimized Insurance Navigation Automated denials management Automated prior authorization bots Payor portal integration Ambient clinical note - taking and summarization Pre - appointment medical records ingestion Clinician - to - clinician unified communication Clinical Pathways reference database Customized referral and intake portal integration AI chat and voice agents Self - service patient portal Call center issue routing Automated, digital appointment scheduling 5áÈyœ¡µœŉ(ŉyµ‹ŉLÈºÅÈ¡ÒyÈèŉiºÈ¬ăºâŉÒºŉÈ¡áŉ(µµºáyÒ¡ºµŉyµ‹ŉ›Ă†¡µ†¡Ìŉ

![](image_014.jpg)

14 THE ONCOLOGY INSTITUTE OF HOPE & INNOVATION ´¡‹ÌÒŉÈyÅ¡‹ŉœÈºâÒ ŉ¡µŉ†yÅ¡ÒyÒ‹ŉÈáµÖĝŉYA(ŉ yÌŉ´yµyœ‹ŉyŉÌÒy…®ŉ;5OŉyÒŉÌ†y® Note: MLR defined as payroll, third - party charges + IV drug costs incurred by TOI divided by net capitation revenue 2024-Q3 2024-Q4 2025-Q1 2025-Q2 2025-Q3 Cap Revenue ($M) 14.6 17.0 17.0 18.5 20.4 MLR % 68% 72% 63% 73% 69% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 13.0 14.0 15.0 16.0 17.0 18.0 19.0 20.0 21.0 Cap Revenue ($M) Cap Revenue ($M) MLR %

![](image_015.jpg)

15 THE ONCOLOGY INSTITUTE OF HOPE & INNOVATION Underwriting "Continuity of Care" Period Implementation of TOI Pathways Contract Maturity Cash Inflow N/A Monthly payments Monthly payments Monthly payments N/A Limited outflows Catch - up on outflows Run - rate Cash Outflow N/A ~Limited Ramping Growing Ancillary Attachment Comments Contract priced based on 1 - 3 years actual claims history and TOI - specific cost - of - care benchmarks Patients see out - of - network providers to complete existing care plans; new patient starts directed in - network Patients fully transitioned over to TOI clinics or in - network TOI MSO providers Patient referral patterns and utilization management processes are fully established N/A ~Breakeven Ramping Maturity Contract Margin Contribution ;yÌÖÈy…®ŉµâŉ†yÅ¡ÒyÒ¡ºµŉ†ºµÒÈy†ÒŉÈy´Å Pre - Contracting Months 0 - 3 Months 4 - 9 Months 10 - 12+

![](image_016.jpg)

16 THE ONCOLOGY INSTITUTE OF HOPE & INNOVATION ;yµyœ´µÒŉÒy´ŉyµ‹ŉ…ºyÈ‹ŉ®y‹ÈÌ ¡Åŉâ¡Ò ŉ‹Åŉ¡µ‹ÖÌÒÈèŉçÅÈ¡µ† Prior Experience Anne McGeorge Chairman of the Board • Joined TOI Board in 2021, Chairman since August 2025 • 35+ years of experience providing strategic and operational guidance to healthcare organizations • Has served as Operating Partner of Havencrest Healthcare since 2018 and previously served as Managing Partner of Grant Thornton Prior Experience Daniel Virnich, MD Chief Executive Officer • Joined TOI in 2020 as COO, CEO since 2023 • 20+ years of executive leadership and value - based care operations experience • Previously, served as President of DaVita Medical Group, Florida and Senior VP of Operations for Healthcare Partners in Southern California Prior Experience Rob Carter Chief Financial Officer • Joined TOI in 2021 as VP of Finance, CFO since 2024 • 10+ years of finance leadership experience in healthcare focused on FP&A and analytics • Previously, served as Head of FP&A at Hoag Health System and held several FP&A leadership roles at SCAN Health Plan and McKesson Jeffrey Langsam, DO Chief Clinical Officer Prior Experience Jordan McInerney Chief Development Officer Prior Experience Yale D. Podnos , MD Chief Medical Officer Prior Experience Prior Experience Kristin England Chief Administrative Officer Stephen Cella SVP, Finance Prior Experience Prior Experience Henry Huy Le VP, Medical Economics

![](image_017.jpg)

17 THE ONCOLOGY INSTITUTE OF HOPE & INNOVATION "¡µyµ†¡y®ŉ AáÈá¡â

![](image_018.jpg)

18 THE ONCOLOGY INSTITUTE OF HOPE & INNOVATION High revenue visibility: recurring treatment models and subscription - like contracts Direct cost control over oncology therapeutic regimens Diversified business model across contracting models, geographies, and populations On track for EBITDA breakeven in 4Q25 Strengthened balance sheet following capital markets issuances in 2025 Increasing economies of scale in drug purchasing Durable growth trajectory, supported by long - term oncology cost inflation 01 02 03 05 06 07 04 "¡µyµ†¡y®ŉ '¡œ®¡œ ÒÌ

![](image_019.jpg)

19 THE ONCOLOGY INSTITUTE OF HOPE & INNOVATION $1 $10 $17 $26 $29 $38 $41 $42 $48 $64 $74 $113 $155 $188 $203 $252 $324 $393 $500 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025E Notes: (1) 2007 - 2017 revenue is cash basis, unaudited and pertains to the Predecessor entity only (2) Predecessor revenue of $76M; Successor revenue of $37M (3) Represents mid - point of 2025 guidance (unaudited) TOI Founded, CA 1st Value - Based Contract 1st Dispensaries opened in CA Over 10K patients cared for TOI welcomed as first cohort of OCM participants Private Equity Investment 1st Gainshare Contract 1st Fully Delegated Network Contract Clinical Trials Established Arizona Expansion 1st Outpatient Stem Cell Transplant NV Expansion Florida Expansion 1st Pharmacy opened Oregon Expansion 1st Direct Health Plan Contract De - SPAC 70th clinic opened Revenue (1) in Millions 41% Revenue CAGR (2) (3) ºµÌ¡ÌÒµÒŉOáµÖŉ#ÈºâÒ ŉ

![](image_020.jpg)

20 THE ONCOLOGY INSTITUTE OF HOPE & INNOVATION 3Q25 Revenue 3Q25 Adjusted EBITDA (1) YTD 2025 Operational Highlights $49.8 $60.2 $48.2 $75.9 3Q24 3Q25 Clinical trials & other Dispensary Patient services ($8.2) ($3.5) 3Q24 3Q25 $99.9 $136.6 Achieved Adjusted EBITDA profitability for the month of September Launched 40,000 new members in Florida with MSO partner . MLR performance is on track AI is scaling in our RCM, pre - authorization process, and cell centers Opened Florida retail pharmacy ĊNĉČŉÇÖyÈÒÈ®èŉÈÌÖ®ÒÌ Notes: (1) Adjusted EBITDA is a non - GAAP measure. Please see the appendix for a reconciliation to the nearest GAAP measure

![](image_021.jpg)

21 THE ONCOLOGY INSTITUTE OF HOPE & INNOVATION (1) Includes Other Revenue Such as Management Fees, Quality Bonuses, Data Monetization, Clinical Research, and Behavioral Ser vic es Ancillary Services Patient Services (Medical & Radiation Oncology) Clinical Research and Other 1 Specialty Pharmacy Capitation FFS • Enrolling TOI patients into clinical trials, managed within TOI clinics • Bonuses for broad value and quality programs • Virtual behavioral care • Resale of clinical data • Billed to pharmacy benefits / PBM • Delivery of specialty oral and self - injectable meds, in clinic or to patient home • Contracts with managed care, IPA, and fully - delegated payors • Paid fixed per member, per month for a payor's population • Billing insurance + copay per service provided by TOI • E&Ms • Infusions • Drug resale • Radiosurgery Description Low variable cost; partner management fees Oral and injectable drugs Oncology IV drugs and provider compensation Oncology IV drugs and provider compensation Largest Cost Inputs 1% 52% 16% 31% Revenue Mix (YTD 3Q25) Medium High High Medium Future Volume Growth Very High Medium - High High Low Margin Contribution YA(ŉ†ºµº´¡†ŉ´º‹®

![](image_022.jpg)

22 THE ONCOLOGY INSTITUTE OF HOPE & INNOVATION LyÒ ŉÒºŉÈy¬áµŉŲŉ"ÖÒÖÈŉLÈºĂÒy…¡®¡Òèŉ5áÈÌŉ Margin Levers 30% 28% 27% 25% 24% 22% 18% 13% 13% 14% 15% 17% 15% 14% 0% 5% 10% 15% 20% 25% 30% 35% 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 SG&A as a % of Rev Gross Margn ($10.9) ($8.7) ($8.2) ($7.8) ($5.1) ($4.1) ($3.5) 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 Adjusted EBITDA Gross Margin • Leverage existing clinical labor • Drive Specialty Pharmacy, Clinical Research, and behavioral attachment • Drug procurement, Pathways, and buy - ins Adj EBITDA Margin • Leverage existing corporate and field infrastructure • AI efficiencies • Vendor diversification SG&A Declining as a Percentage of Revenue Gross Margins Trending Higher Notes: (1) Adjusted EBITDA is a non - GAAP measure. Please see the appendix for a reconciliation to the nearest GAAP measure SG&A Declining as a Percentage of Revenue, Gross Margins Trending Higher Adjusted EBITDA Margin Levers

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23 THE ONCOLOGY INSTITUTE OF HOPE & INNOVATION Notes: 1 Represents gross proceeds before deducting placement agent fees and offering expenses 2 Represents gross proceeds through Q3 and beyond before deducting fees paid to the sales agents Collectively, these actions have fortified our balance sheet, providing us with the stability and resources to aggressively pursue our key growth initiatives and create long - term shareholder value Reduced Long - Term Debt Executed a significant partial prepayment and a debt - to - preferred - equity conversion on our convertible debt, to lower future obligations and interest expense Secured Strategic Capital Closed a private placement, adding key investors to our cap table Leveraged Market Opportunity Efficiently utilized our ATM program to generate growth capital Financial Impact Strategic Benefit ($24M) Debt +$16.5M Cash 1 +$14.4M Cash 2 Lower leverage, Lower Interest Cost Strategic Capital, Strengthened Equity Base Operational Flexibility, Opportunistic Funding SÒÈµœÒ µ‹ŉºÖÈŉy®yµ†ŉÌ Òŉ¡µŉĉćĉČŉÒºŉ›Öµ‹ŉºÖÈ †ºÈŉ…ÖÌ¡µÌÌŉ¡µ¡Ò¡yÒ¡áÌ

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24 THE ONCOLOGY INSTITUTE OF HOPE & INNOVATION Large TAM, with long - term growth driven by secular trends 18 - year history of differentiated care delivery, controlling costs and improving outcomes Leading national oncology - focused VBC Platform Management team with deep industry experience 20%+ revenue growth in 2025, on track for EBITDA positive 4Q25 Multiple growth channels across diversified business model 01 02 03 05 06 04 O†yÅĞŉ (µáÌÒ´µÒŉ '¡œ®¡œ ÒÌ

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25 THE ONCOLOGY INSTITUTE OF HOPE & INNOVATION ÅÅµ‹¡ç

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26 THE ONCOLOGY INSTITUTE OF HOPE & INNOVATION >~ÒŁĥģŅŁĤĢĤħ "‹ŁĥģŅŁĤĢĤĦ #ESŁ](SŁ>E?](WŁ? W"ÏŁĥĢŅŁĤĢĤĦ 5à¾ŁĥĢŅŁĤĢĤĦ >~ÒŁĥģŅŁĤĢĤĦ W"ÏŁĥĢŅŁĤĢĤħ 5à¾ŁĥĢŅŁĤĢĤħ "‹ŁĥģŅŁĤĢĤĤ "‹ŁĥģŅŁĤĢĤĥ $(13,182) $(18,754) $(11,007) $(19,585) $(17,009) $(16,504) $(19,888) $(15,479) $(16,113) Net loss 1,707 1,577 1,192 1,784 1,805 1,723 1,489 1,518 1,573 Depreciation and amortization 1,168 1,941 2,450 5,570 1,870 1,920 1,985 2,119 2,225 Interest expense, net — (86) (367) — (61) (10) — — — Income tax expense (benefit) 71 1,876 604 (163) 2,222 164 (39) (69) (102) Non - cash addbacks 1,289 3,817 6,070 1,458 752 1,024 4,087 3,387 2,389 Share - based compensation — — 9,944 — — — — — — Goodwill impairment (176) 1,488 (15,482) 3,352 4,040 6,127 — (3,120) (20) Change in fair value of liabilities (4) (206) (673) 6 — — (82) (34) (18) Unrealized (gains) losses on investments — 1 91 — — — — — — Practice acquisition - related costs 13 487 155 13 13 13 130 186 45 Practice acquisition deferred purchase price 69 55 1,115 332 507 782 176 244 352 Consulting and legal fees 1,217 1,551 1,204 2,124 1,771 1,302 1,185 2,539 1,473 Infrastructure and workforce costs — 1 64 — 1 — 18 — — Transaction costs $(7,828) $(6,252) $(4,640) $(5,109) $(4,089) $(3,459) $(10,940) $(8,710) $(8,196) Adjusted EBITDA ³àÖÜ"Ł\*]ŁS"‹Ä¾‹§·§~Ü§Ä¾ ]¥"ŁÄ½Ï~¾òŁ§¾‹·à"ÖŁ~³àÖÜ"Ł\*]ŁŠ"‹~àÖ"Ł§ÜŁ§ÖŁ~¾Ł§½ÏÄÒÜ~¾ÜŁ½"~ÖàÒ"ŁàÏÄ¾Łì¥§‹¥ŁÄàÒŁ½~¾~¡"½"¾ÜŁàÖ"ÖŁÜÄŁ~ÖÖ"ÖÖŁÜ¥"ŁÒ"Öà·ÜÖŁ Ä Ł ÄÏ"Ò~Ü§Ä¾ÖŅŁÜÄŁ"ë~·à~Ü"Ł ~‹ÜÄÒÖŁ~¾ŁÜÒ"¾ÖŁ~ "‹Ü§¾¡ŁÜ¥"ŁŠàÖ§¾"ÖÖŅŁ~¾ŁÜÄŁÏ·~¾Ł~¾Ł ÄÒ"‹~ÖÜŁ àÜàÒ"ŁÏ"Ò§ÄÖń ³àÖÜ"Ł\*]Ł§ÖŁš¾Ä¾ ŕ $PŢŁĝ¾~¾‹§~·Ł½"~ÖàÒ"Łì§Ü¥§¾ŁÜ¥"Ł½"~¾§¾¡ŁÄ Ł\*Ü"½ŁģĢŁÄ ŁS"¡à·~Ü§Ä¾ŁW ŕ 6ŁÏÒÄ½à·¡~Ü"ŁŠòŁÜ¥"ŁWńŁ>~¾~¡"½" ¾ÜŁŠ"·§"ë"ÖŁÜ¥~ÜŁÜ¥§ÖŁ½"~ÖàÒ"ŁÏÒÄë§"ÖŁ~¾Ł~§Ü§Ä¾~·Łì~òŁÄ Łë§"ì§¾¡Ł~ÖÏ"‹ÜÖŁÄ ŁÜ¥"ŁÄ½Ï~¾òŪÖŁÄÏ"Ò~Ü§Ä¾ÖŁÜ¥~ÜŅŁì¥"¾Łë§"ì"Łì§Ü ¥ŁÜ ¥"Ł$PŁÒ"Öà·ÜÖŅŁÏÒÄë§"ÖŁ~Ł½ÄÒ"Ł‹Ä½Ï·"Ü"Ł à¾"ÒÖÜ~¾§¾¡ŁÄ ŁÜ¥"ŁÄ½Ï~¾òŪÖŁÒ"Öà·ÜÖŁÄ ŁÄÏ"Ò~Ü§Ä¾ÖŁ~¾ŁÜ¥"Ł ~‹ÜÄÒÖŁ~¾ŁÜÒ"¾ÖŁ~ "‹Ü§¾¡ŁÜ¥"ŁŠàÖ§¾"ÖÖńŁ(Äì"ë"ÒŅŁ¾Ä¾ ŕ $PŁĝ¾~¾‹ §~·Ł½"~ÖàÒ"ÖŁÖ¥Äà·ŁŠ"Ł‹Ä¾Ö§"Ò"Ł~ŁÖàÏÏ·"½"¾ÜŁÜÄŅŁ~¾Ł¾ÄÜŁ~ÖŁ~ŁÖàŠÖÜ§ÜàÜ"Ł ÄÒŅŁÄÒŁÖàÏ"Ò§ÄÒŁÜÄŅŁÜ¥"Ł‹ÄÒÒ"ÖÏÄ¾§¾¡Ł½"~ÖàÒ"ÖŁ‹~ ·‹à ·~Ü"Ł§¾Ł~‹‹ÄÒ~¾‹"Łì§Ü¥ŁańWńŁ$PńŁ?Ä¾ ŕ $PŁĝ¾~¾‹§~·Ł ½"~ÖàÒ"ÖŁàÖ"ŁŠòŁ½~¾~¡"½"¾ÜŁ½~òŁ§ "ÒŁ ÒÄ½ŁÜ¥"Ł¾Ä¾ ŕ $PŁ½"~ÖàÒ"ÖŁàÖ"ŁŠòŁÄÜ¥"ÒŁ‹Ä½Ï~¾§"ÖŅŁ§¾‹·à§¾¡ŁÜ¥"ŁÄ½Ï~¾òŪÖŁ‹Ä½Ï"Ü§ÜÄÒÖńŁ >~¾~¡"½"¾ÜŁ"¾‹ÄàÒ~¡"ÖŁ§¾ë"ÖÜÄÒÖŁ~¾ŁÄÜ¥"ÒÖŁÜÄŁÒ"ë§"ìŁÜ¥"ŁÄ½Ï~¾òŪÖŁĝ¾~¾‹§~·Ł§¾ ÄÒ½~Ü§Ä¾Ł§¾Ł§ÜÖŁ"¾Ü§Ò"ÜòŅŁ¾ÄÜŁÜÄŁÒ"·òŁÄ¾Ł~¾òŁ Ö§¾ ¡·"Łĝ¾~¾‹§~·Ł½"~ÖàÒ"ńŁ \*¾ŁÜ¥ÄàÖ~¾Ö