FINANCIAL HIGHLIGHT S SELE CT MEDICAL HOLDINGS C ORP OR ATION (In thousands, except per share data)20162015201420132012 (1) The selected financial data for the company’s Concentra segment for the periods presented begins as of June 1, 2015, which is the date the Concentra acquisition was consummated. (2) Adjusted EBITDA is used by Select Medical to report its segment performance. Adjusted EBITDA is defined as earnings excluding interest, income taxes, depreciation and amortization, gain (loss) on early retirement of debt, stock compensation expense, Concentra acquisition costs, Physiotherapy acquisition costs, non-operating gain (loss) and equity in earnings (losses) of unconsolidated subsidiaries. Refer to Item 6 and Item 7 for further consideration of Adjusted EBITDA as a Non-GAAP measure. 4 S E L E C T M E D I C A LI M P R O V I N G Q U A L I T Y O F L I F E FOR THE YEARS ENDED Net operating revenues Income from operations Net income attributable to Select Medical Holdings Corporation Income per common share, fully diluted Dividends per share Cash flow from operations SEGMENT INFORMATION Net operating revenues Specialty hospitals Outpatient rehabilitation Concentra(1) Other $ 4,286,021 299,847 115,411 0.87 — 346,603 $ 2,289,482 995,374 1,000,624 541 $ 3,742,736$ 3,065,017 $ 2,975,648 $ 2,948,969 274,790 284,476301,436336,859 130,736120,627114,390148,230 0.99 0.910.82 1.05 0.100.40 0.30 1.50 208,415170,642192,523298,682 $ 2,346,781 $ 2,244,899$ 2,198,121 $ 2,197,529 810,009 819,397777,177 751,317 585,222 724 721350 123 Total Net Operating Revenues Adjusted EBITDA Specialty hospitals Outpatient rehabilitation Concentra(1) Other $ 4,286,021 $ 281,511 129,830 143,009 (88,543) $ 3,742,736$ 3,065,017 $ 2,975,648 $ 2,948,969 $ 327,623$ 341,787$ 353,843$ 381,354 98,220 97,58490,31387,024 48,301 (74,979) (75,499) (71,295)(62,531) Total Adjusted EBITDA(2) BALANCE SHEET SNAPSHOT AT YEAR-END Cash and cash equivalents Working capital Total assets Total debt Stockholders’ equity $ 465,807 $ 99,029 236,433 4,944,395 2,698,989 815,725 $ 399,165 $ 363,872$ 372,861$ 405,847 $ 14,435$ 3,354$ 4,319$ 40,144 19,869133,22082,87880,397 4,388,6782,924,809 2,817,6222,761,361 2,385,8961,552,9761,445,2751,470,243 859,253739,515786,234717,048