#1CARECLOUD: ENABLING THE NEXT GENERATION OF HEALTHCARE Nasdaq Global Market: CCLD, CCLDP, CCLDO Investor Presentation May 2023 A leading provider of technology-enabled services and solutions that redefine the healthcare revenue cycle O CareCloud, Inc. 2023 CareCloud#2Safe Harbor Statements This presentation contains forward-looking statements within the meaning of the federal securities laws. These statements relate to anticipated future events, future results of operations or future financial performance. In some cases, you can identify forward-looking statements by terminology such as "may," "might," "will," "shall," "should," "could," "intends," "expects," "plans," "goals," "projects," "anticipates," "believes," "seeks," "estimates," "forecasts," "predicts," "possible," "potential," "target," or "continue" or the negative of these terms or other similar terms and phrases. Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward- looking statements ultimately prove to be correct. Forward-looking statements in this presentation include, without limitation, statements reflecting management's expectations for future financial performance and operating expenditures, expected growth, including our ability to continue as a going concern, to raise additional capital and to succeed in our future operations, profitability and business outlook, increased sales and marketing expenses, and the expected results from the integration of our acquisitions. Forward-looking statements are only current predictions and are subject to substantial known and unknown risks, uncertainties, and other factors that may cause our (or our industry's) actual results, levels of activity, performance, or achievements to be materially different from those anticipated by such statements. These factors include our ability to: Manage our growth, including acquiring, partnering with, and effectively integrating acquired businesses into our infrastructure and avoiding legal exposure and liabilities associated with acquired companies and assets; • Retain our clients and revenue levels, including effectively migrating new clients and maintaining or growing the revenue levels of our new and existing clients; • Maintain operations in our offshore offices in a manner that continues to enable us to offer competitively priced products and services; • Keep pace with a rapidly changing healthcare industry; . Consistently achieve and maintain compliance with a myriad of federal, state, foreign, local, payor and industry requirements, regulations, rules, laws and contracts; • Maintain and protect the privacy of confidential and protected Company, client and patient information; • Develop new technologies, upgrade and adapt legacy and acquired technologies to work with evolving industry standards and third-party software platforms and technologies, and protect and enforce all of these and other intellectual property rights; • Attract and retain key officers and employees, and the continued involvement of Mahmud Haq as Executive Chairman and A. Hadi Chaudhry as Chief Executive Officer and President, all of which are critical to our ongoing operations, growing our business and integrating of our newly acquired businesses; • Comply with covenants contained in our credit agreement with our senior secured lender, Silicon Valley Bank a division of First-Citizens Bank & Trust Company and other future debt facilities; Pay our monthly preferred dividends to the holders of our preferred stock; Compete with other companies developing products and selling services competitive with ours, and who may have greater resources and name recognition than we have; Respond to the uncertainty resulting from the ongoing Covid-19 pandemic and the impact it may have on our operations, the demand for our services, our projected results of operations, financial performance or other financial metrics or any of the foregoing risks and economic activity in general; and • Keep and increase market acceptance of our products and services. Although we believe that the expectations reflected in the forward-looking statements contained in this presentation are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. In this presentation, we disclose certain non-GAAP historical and projected financial measures, including Adjusted EBITDA. We believe that these non-GAAP financial measures provide useful information to both management and investors by excluding certain items and expenses that are not indicative of our core operating results or do not reflect our normal business operations. Our use of non-GAAP financial measures has certain limitations in that such non-GAAP financial measures may not be directly comparable to those reported by other companies. We seek to compensate for the limitation of our non-GAAP presentation by providing a detailed reconciliation of the non-GAAP financial measures to the most directly comparable U.S. GAAP measures. Investors are encouraged to review the related U.S. GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable U.S. GAAP financial measures. The statements in this presentation are made as of the date of this presentation, and the Company does not assume any obligations to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made. CareCloud O CareCloud, Inc. 2023 1#3S I created CareCloud as an answer to what seemed to be a formidable problem at the time. It was built from the ground up using tenacity and resilience, and it is through these virtues that CareCloud continues to thrive. The CareCloud team was and continues to be uniquely positioned to excel in the most challenging environments. Mahmud Haq Founder, CareCloud MTBC NASDAQ LISTED CareCloud#4CoreCloud at-a-Glance CareCloud provides technology-enabled revenue cycle management and a full suite of cloud-based solutions that help clients increase financial and operational performance, streamline clinical workflows and improve the patient experience. Solution offerings include revenue cycle management (RCM), practice management (PM), electronic health records (EHR), patient experience management (PXM), business intelligence, digital health, as well as premier HIT consulting and on-demand staffing. Initial Public Offering CareCloud was founded in 2000, IPO in 2014 4,000 Employees 4,000 global employees with more than 500 research & development and information technology staff members Industry Leaders Industry leading software platforms across clinical, financial and patient experience 40,000 Providers Approx. 40,000 providers leveraging our products and services in 80 medical specialties $. $6 Billion Powering healthcare transactions at scale including $6 billion in insurance claims & patients' receivables 2,600 Medical Practices Serving more than 2,600 large & small medical practices, hospitals & health systems in all 50 states $31.8 2017 Annual Revenues 2017-2022 CAGR: 34% $50.5 2018 $64.4 2019 $105.1 $139.6 $138.8 2020 2021 2022 O CareCloud, Inc. 2023 3#5Patient Experience Higher demand for better experience & tech due to patient burden Enhances the patient experience with 'digital front-door' tools like check-in, eligibility, and pre- authorization CareCloud Physician Burnout Healthcare Provider Pain Points Doctors working harder and getting paid less workflows Digitizes and automates physician ($) Transition to Value-Based Care Transition requires risk-taking, different model for care delivery Reimbursement Challenges Provides analytics to help stratify risk, report on utilization trends and measure outcomes Increased coding complexity CareCloud's Value Proposition Improves compliance and reduces regulatory complexity </> Administrative Burden Physicians spending more time entering data, less time with patients Improves cash collections and removes billing and scheduling burden from providers * Staffing Staffing shortages and labor inflation Alleviates staffing shortages with short- and long-term workforce augmentation O CareCloud, Inc. 2023 4#6Enabling a Broad Spectrum of Clients and Partners CareCloud Small Medical Practices Large Physician Groups Hospitals & Health Systems Industry Partners O CareCloud, Inc. 2023 5#7CareCloud's End-to-End Healthcare Solutions TECHNOLOGY- ENABLED RCM • Revenue Cycle Management Medical Coding Provider Credentialing Robotic Process Automation CareCloud Redefining the next generation of technology-enabled revenue cycle solutions CLOUD-BASED SOFTWARE • Electronic Health Records • Practice Management Software • Patient Experience Management Business Intelligence • Customized Cloud Applications DIGITAL HEALTH Chronic Care Management • Remote Patient Monitoring Telemedicine Solutions HIT PROFESSIONAL SERVICES & STAFFING • Professional Services & Consulting • Strategic Advisory Services Workforce Augmentation MEDICAL PRACTICE MANAGEMENT Medical Practice Management Services O CareCloud, Inc. 2023 6#8CareCloud Wellness A Transformational Suite of Digital Health Solutions CareCloud wellness Chronic Care Management HYPERTENSION La DIABETES HIGH CHOLESTEROL CareCloud OBESITY Improving patient satisfaction by proactively managing multiple chronic conditions outside the clinical setting. Remote Patient Monitoring DATE 368 888 A G * = Enabling proactive patient engagement by monitoring real- time health data with connected devices. O CareCloud, Inc. 2023 7#9Artificial Intelligence Microbots A Robotic Process Automation (RPA) solution that uses Microbots or "Al Digital Workers" to help automate routine revenue cycle management tasks and enable handshakes between disparate EHR, PM and Enterprise systems. CareCloud Claim Status Contract Payment Alerts Platform Agnostic Applications Eligibility Denial **** ********* ****** Self-Pay Eligibility Tw ... Auto Adjustments Medical Record Attachments $ Payment Posting Health & Wellness Checks Authorization Confirmation Timely Filing Alerts O CareCloud, Inc. 2023 8#10A Multi-faceted Growth Strategy Organic Growth Aligned focus on growing market share by acquiring net new customers Dedicated sales teams across market segments Introducing new digital health solution suite, providing benefits to providers and patients Sales initiatives on cross-selling to drive expanding share-of-wallet CareCloud + Partnerships Convert smaller competitors into customers FORCE: Leverage CareCloud's technology and/or on-demand workforce capabilities, including white-labeled revenue cycle management Channel partner strategy to resell our software and services + Acquisitions Acquire revenue cycle management companies and complementary businesses Leverage efficiency and lower costs to grow adjusted EBITDA O CareCloud, Inc. 2023 9#11Revenue Growth 2021 2022 plus 2023 Guidance Total Revenue ($ in millions) Excluding 2 large customers each acquired prior to our taking over their contracts via one of our 2020 acquisitions CareCloud - $139.6 $118.1 2021 $138.8 $126.7 +7% 2022 $142-$146 $140-$144 +12% 2023 Guidance ■Range ☐2 acquired customers Guidance Does not include the impact of any potential acquisitions Investors are cautioned that such statements involve risks and uncertainties that could cause actual results to differ materially from anticipated results Actual Percentages represent year-over-year growth excluding the two large customers acquired before one of our 2020 acquisitions, which migrated to their acquirers' platforms in mid-2022 O CareCloud, Inc. 2023 10#12Technology-Enabled Services □ Technology- enabled business solutions Medical practice management ■ Other Q1 2023 Revenues healthcare IT services CareCloud $1.0 $3.0 $26.0 87% 51% 14% 22% Q1 2023 Revenue Technology-enabled services 13% 10% 3% Other services ■ Technology-enabled revenue cycle management Cloud-based software-as-a- service Healthcare IT professional services Medical practice management ■Other services Most customers who utilize technology-enabled revenue cycle management use one or more elements of CareCloud's core technology (EHR or PM) O CareCloud, Inc. 2023 11#13Adjusted EBITDA 2021 2022 plus 2023 Guidance: 15% Growth CareCloud ($ in millions) - $22.1 2021 $22.2 2022 $24-$27 +15% 2023 Guidance ■Range Guidance ☐Actual Investors are cautioned that such statements involve risks and uncertainties that could cause actual results to differ materially from anticipated results See reconciliations of non-GAAP results in the Appendix O CareCloud, Inc. 2023 12#14CareCloud's Unique Strengths Provide a Competitive Advantage The combination of CareCloud's leading healthcare technology platform, low-cost global team, and proven track record of integrating acquired businesses and turning them profitable gives CareCloud a competitive advantage. Technology Platform Streamlines workflow Increases revenue Decreases expenses for customers CareCloud + Global Team Unparalleled cost structure Globally distributed workforce + Proven Market Consolidator Repeatable M&A framework Rapid integration methodology Highly fragmented market opportunity O CareCloud, Inc. 2023 13#15Global Resources MT Unique BIG Healthcare Nasdaq MTunique B CareCloud Healthcare IT Company Nasda ~500 Onshore ~3,500 Offshore cloud 411/ O CareCloud, Inc. 2023 14#16Capitalization as of April 28, 2023 Stock Symbol Stock Price¹ Outstanding Shares¹ Equity Value Share Structure/ Terms ● . Common Stock Nasdaq: CCLD $3.27 15.6 million $51 million CareCloud Public Float: 10.3 M shares Fully Diluted: 17.3 M shares Insiders: ~34% ● • Series A Preferred Stock Nasdaq: CCLDP $27.35 4.5 million $124 million Dividend: 11% of redemption value ($25.00), paid monthly Non-convertible Redeemable at $25.00 per share at Company's option Redemption value: $113 M Series B Preferred Stock Nasdaq: CCLDO $23.50 1.5 million $34 million Dividend: 8.75% of redemption value ($25.00), paid monthly Non-convertible Redeemable at $25.75 per share starting 2/2024, steps down to $25.00 by 2/2027 Redemption value: $36 M 1 Stock prices and shares as of April 28, 2023 Debt and cash as of March 31, 2023 $ Millions. $200 $150 $100 CareCloud Enterprise Value $10.1 $8.2 $211 $50 $51 $158 Common Preferred Stock Stock Debt Cash Enterprise Value O CareCloud, Inc. 2023 15#17Why CareCloud CareCloud Leading technology-enabled RCM and cloud-based healthcare platform, with new digital health offerings, combined with low-cost offshore services team Record revenue growth driven by organic as well as strategic initiatives History of rapidly integrating large acquisitions driving enhanced scale Corporate carecloud.com Investor Relations IR.carecloud.com Bill Korn, CFO [email protected] Asher Dewhurst, Westwicke [email protected] 443.213.0503 O CareCloud, Inc. 2023 16#18CareCloud APPENDIX Nasdaq Global Market: CCLD, CCLDP, CCLDO O CareCloud, Inc. 2023 17#19Proven Leadership Team Mahmud Haq Founder & Executive Chairman • Former CEO of Compass International Services (Nasdaq: CMPS); completed 14 acquisitions in 18 months, grew revenue to $180M run-rate, and acquired by NCO Group Increasing senior positions at American Express • B.S., Aviation Management, Bridgewater State College M.B.A., Finance, Clark University A. Hadi Chaudhry President, Chief Executive Officer & Director Joined in 2002 ● . Bill Korn Chief Strategy Officer Joined in 2013 Former CFO of Antenna Software (2002-2012); completed 5 acquisitions, driving 87% CAGR Former executive at IBM (NYSE: IBM) for 10 years • ● ● Previously served as Manager of IT, General Manager, Chief Information Officer, and VP of Global Operations Extensive healthcare IT experience, including various roles in the banking and IT sector B.S., Mathematics & Statistics; numerous IT certifications ● A.B., Economics, magna cum laude, Harvard College M.B.A., Harvard Business School Joseph DosSantos Chief Financial Officer Accomplished financial executive with 30 years experience and a concentration in the biotechechnology industry • Certified public accountant with B.S., Accounting, Kean University M.B.A., Finance, Seton Hall University . ● Steve Link Chief Operating Officer • 30 years of experience in the healthcare and financial services industries, including 8.5 years at athenahealth • B.A., Business Administration, New England College of Business • Black Belt Certification, Six Sigma Qualtec Karl Johnson President, CareCloud Force • More than 30 years of experience in hospital administration & physician management • Founded a large physician management company in 1997 which was acquired by CareCloud in 2016 B.S., Healthcare Administration, Brigham Young University • M.B.A., Healthcare Administration, Brigham Young University ● Dwight Garvin Executive Vice President & Chief Operating Officer of medSR • More than 30 years of experience in healthcare technology, including tenures at athenahealth, Cerner and Deloitte Consulting B.S., Medical Technology & Clinical Laboratory Science, Auburn University • M.B.A., Business Administration, University of Alabama, Manderson Graduate School of Business . O CareCloud, Inc. 2023 18#20Non-GAAP Financial Measures Reconciliation ($000s) GAAP net income Adjusted EBITDA to GAAP net income Provision (benefit) for income taxes Net interest expense Foreign exchange / other expense Stock-based compensation expense Depreciation and amortization Transaction and integration costs Net loss on leases, restructuring, impairment & unoccupied lease charg Change in contingent consideration Adjusted EBITDA CareCloud 2021 $ 2,836 2022 $ 5,432 157 440 241 5,396 12,195 1,364 2,005 (2,515) (3,090) $ 22,119 $ 22,248 177 364 712 4,914 11,725 Please note that adjusted EBITDA is not audited and such information is subject to risks and uncertainties and should be reviewed in conjunction with GAAP financial results reported in the Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. 876 1,138 O CareCloud, Inc. 2023 19