Methodology and basis of preparation

This plan was prepared from the sponsor brief with headline revenue and EBITDA margin preserved exactly (EBITDA derived as revenue × margin). All statements below EBITDA were independently modelled: component depreciation from the capex register (facilities 20-year, medical equipment 8-year, digital 5-year); interest on healthcare term debt at 13.0%; 27% South African corporate tax with assessed-loss carry-forward; and working capital at 11% of revenue. Consistent with the invitation to structure the raise across funding rounds, the plan is funded by a R700 million Series A (Year 1) and a R600 million Series B (Year 3), each blending equity and term debt. The income statement, balance sheet and cash flow are integrated so the balance sheet ties to zero in every year, enforced by an automated assertion (maximum difference: 0.0). Returns, scenarios, sensitivities and debt-service cover were computed independently, and the material findings, most importantly the healthcare-infrastructure J-curve of early-year losses, alongside the occupancy ramp, payer and NHI uncertainty, specialist-staffing constraint and multi-round capital intensity, are disclosed explicitly rather than smoothed. The leadership and shareholding are the proposed structure, to be finalised on funding. Healthcare-market statistics are directional estimates from public industry sources current to mid-2026 and should be re-verified in due diligence. This document is not an offer of securities.

HarmonyBridge Children’s Health & Rehabilitation Centres · Business Plan & Investment Prospectus · July 2026 · Private & Confidential