Select Medical's Concentra subsidiary prices $650M of 6.875% senior notes due 2032

SELECT MEDICAL HOLDINGS CORP

$650M aggregate principal of 6.875% senior notes due 2032 priced by Concentra Escrow Issuer.
Notes issued as a step in the planned separation of Concentra from Select Medical.
Proceeds held in escrow pending merger into CHSI expected Q3 2024; if not closed by Sep 30, notes subject to special mandatory redemption at 100% plus accrued interest.
Concentra to use $50M for corporate purposes; remainder plus borrowings paid as dividend to Select Medical Corp.
Upon merger, notes guaranteed by Concentra and certain subsidiaries on senior unsecured basis.

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