Disclaimer DISCLAIMERS AND OTHER IMPORTANT INFORMATION Forward Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, conveying the expectations of management of AdaptHealth Holdings, LLC (“AdaptHealth” or the “Company”) and/or DFB Healthcare Acquisitions Corp. (“DFB”) as to the future based on plans, estimates and projections at the time the Company and/or DFB makes the statements. Forward-looking statements involve inherent risks and uncertainties and the Company and DFB caution you that a number of important factors could cause actual results to differ materially from those contained in any such forward-looking statement. The forward-looking statements contained in this presentation include, but are not limited to, statements related to anticipated growth in the Company’s industry, the Company’s strategy and ability to grow, the Company’s anticipated future financial performance, the Company’s ability to complete and/or successfully integrate future acquisitions, the anticipated timing of the planned business combination between AdaptHealth and DFB (the “Potential Business Combination”), the completion of the Potential Business Combination on the terms proposed, the financing of the Potential Business Combination on terms currently anticipated, and the potential impact the Potential Business Combination will have on the Company and DFB. Such statements generally include words such as “believes,” “plans,” “intends,” “targets,” “will,” “expects,” “suggests,” “anticipates,” “outlook,” “continues” or similar expressions. The forward-looking statements contained in this presentation are based on the Company’s and/or DFB’s management’s current expectations and projections about future events and trends that it believes may affect AdaptHealth’s or the combined company’s financial condition, results of operations, strategy, short-term and long-term business operations and objectives and financial needs. You should not place undue reliance upon these forward-looking statements as predictions of future events. Although the Company and DFB believe that the expectations reflected in the forward-looking statements are reasonable, no guarantee can be made as to future results, level of activity, performance or achievements. Factors that could cause actual results to differ materially from those expressed or implied in such “forward-looking statements,” include, but are not limited to, the level of redemptions in connection with the Potential Business Combination; receipt of regulatory approvals without unexpected delays or conditions; changes in estimates of future financial performance; changes in expectations as to the closing of the Potential Business Combination; retention of customers and suppliers in connection with the Potential Business Combination or other acquisitions; the cost of capital necessary to finance the Potential Business Combination and any future acquisitions; the ability of DFB or the combined company to issue equity-linked securities in connection with the Potential Business Combination or in the future, including, without limitation, pursuant to a private investment in public equity, or PIPE, or other offering of equity securities, which could dilute the interests of DFB’s stockholders; those factors discussed in the preliminary proxy statement filed by DFB with the U.S. Securities and Exchange Commission (“SEC”) under the heading “Risk Factors,” and other documents DFB filed, or to be filed, with the SEC; and unanticipated changes in laws, regulations, or other industry standards affecting the Company or DFB. The forward-looking statements included in this document are made as of the date of this presentation. The Company and DFB disclaim any duty to update any of these forward-looking statements after the date of this presentation to confirm these statements in relationship to actual results or revised expectations. Non-GAAP Financial Information This presentation includes references to financial measures that are calculated and presented on the basis of methodologies other than in accordance with generally accepted accounting principles in the United States of America (“GAAP”), including the measures Adjusted EBITDA and Adjusted EBITDA Less Patient Capital Expenditures. A reconciliation of certain of these non-GAAP financial measures to the nearest GAAP measure can be found in the appendix to the investor presentation filed by DFB with the SEC on September 17, 2019. Any non-GAAP financial measures used in this presentation are in addition to, and not meant to be considered superior to, or a substitute for, the Company’s financial statements prepared in accordance with GAAP. The principal limitation of these non-GAAP financial measures is that they exclude significant expenses and income that are required by GAAP to be recorded in the Company’s financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by management about which expense and income are excluded or included in determining these non-GAAP financial measures. The non-GAAP measures presented herein may not be comparable to similar non-GAAP measures presented by other companies. Use of Projections This presentation contains financial forecasts, including with respect to AdaptHealth’s revenue, Adjusted EBITDA and Adjusted EBITDA Less Patient Capital Expenditures for 2019 and 2020. Neither AdaptHealth’s nor DFB’s independent auditors have reviewed or performed any procedures with respect to the projections for the purpose of their inclusion in this presentation and, accordingly, neither has expressed an opinion or provided any other form of assurance with respect thereto. These projections are for illustrative purposes only and should not be relied on as being necessarily indicative of future results. The assumptions and estimates underlying the projected financial information are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the projected financial information. Accordingly, there can be no assurance that the financial forecasts will be indicative of future performance of AdaptHealth or the combined company or that actual results will not differ materially from the financial forecasts contained in this presentation. No Offer or Solicitation This presentation and any oral statements made in connection with this presentation do not constitute an offer to sell, or a solicitation of an offer to buy, or a recommendation to purchase, any securities in any jurisdiction, or the solicitation of any proxy, vote, consent or approval in any jurisdiction in connection with the Potential Business Combination or any related transactions, nor shall there be any sale, issuance or transfer of any securities in any jurisdiction where, or to any person to whom, such offer, solicitation or sale may be unlawful under the laws of such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. Important Information for Investors and Security Holders In connection with the Potential Business Combination, DFB has filed a preliminary proxy statement with the SEC, and will file with the SEC and mail to stockholders of DFB a definitive proxy statement. This presentation is not a substitute for the proxy statement or for any other document that DFB may file with the SEC and send to DFB’s stockholders in connection with the Potential Business Combination. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT AND OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION. The definitive proxy statement will be mailed to stockholders of DFB as of a record date to be established for voting on the Potential Business Combination. Investors and security holders may obtain free copies of the proxy statement and other documents filed with the SEC by DFB through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by DFB are available free of charge by contacting DFB Healthcare Acquisitions Corp., 780 Third Avenue, New York, New York 10017. Participants in the Solicitation DFB and AdaptHealth and their respective directors and executive officers may be considered participants in the solicitation of proxies with respect to the Potential Business Combination under the rules of the SEC. Information about the directors and executive officers of DFB is set forth in its Annual Report on Form 10-K for the year ended December 31, 2018, which was filed with the SEC on March 29, 2019. Additional information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, is included in the preliminary proxy statement and will be included in the definitive proxy statement and other relevant materials to be filed with the SEC when they become available. . Information regarding AdaptHealth’s directors and executive officers is contained in the preliminary proxy statement for the Potential Business Combination, and will be contained in the definitive proxy statement, when available. These documents can be obtained free of charge from the sources indicated above. Page 2
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