This business plan (the “Plan”) has been prepared by the directors of LumaVida Women’s Health Institute (Pty) Ltd (“LumaVida”, the “Group” or the “Company”) solely to assist prospective financiers, development finance institutions and equity investors in evaluating a potential participation in the Group’s capital-raising programme (a R25 million seed within a ~R132 million national programme). It does not constitute an offer, invitation or solicitation to subscribe for or purchase any security.

The financial projections contained herein are forward-looking and rest on assumptions management considers reasonable at the date of preparation. The headline revenue and EBITDA figures reflect the sponsor’s operating targets; all items below EBITDA, depreciation, financing costs, taxation and returns, have been independently re-derived by the preparers under the transparent assumptions set out in the Financial Plan and Appendices. A specialist-healthcare rollout is inherently exposed to specialist-recruitment, clinic-ramp, funding, membership-uptake and regulatory risk; actual results will differ from projections, potentially materially. The availability of obstetrician-gynaecologists and fertility subspecialists is the binding constraint; the R25 million seed funds Phase 1 only, with the national programme dependent on a Phase-2 follow-on raise; and the clinic ramp, the membership target and the exit multiple are the dominant value drivers, all are addressed and stress-tested explicitly herein. The base-case returns are high because the business is capital-light, and should be read as a ceiling contingent on execution, staffing and follow-on funding.

Where this Plan cites third-party market data, including specialist-supply statistics, fertility (ART) access rates and women’s-health market estimates, such data is believed reliable but has not been independently verified by the Company. Clinic revenue, volume and margin figures are indicative planning assumptions built to be consistent with the sponsor’s illustrative figures and benchmarked to the South African women’s-health sector, and do not constitute an independent market, clinical or valuation report; detailed clinical, specialist-recruitment and market due diligence and independent valuation would form part of formal transaction diligence.

By accepting this document, the recipient agrees to keep its contents confidential, to use it solely for evaluating the transaction described, and to return or destroy it on request. Prospective investors should conduct their own due diligence and obtain independent legal, tax, clinical and financial advice before making any investment decision.