Evolent prices upsized $145M convertible notes at 4.50%; uses proceeds to repurchase 2025 notes and common stock.

Evolent Health, Inc.

Priced $145M (upsized from $140M) of 4.50% convertible senior notes due 2031; initial purchasers have 30-day option for additional $21.75M.
Conversion price ~$13.53/share, representing ~50% premium over $9.02 closing price on Aug 18, 2025.
Net proceeds estimated at $140.2M ($161.2M if option fully exercised), after fees and expenses.
Approximately $100.2M plus available liquidity to repurchase ~$167.4M of existing 1.50% 2025 notes; ~$40M to repurchase 4.43M common shares at $9.02/sh.
CFO states transaction avoids over $9M annual interest vs. credit facilities and extends next debt maturity to 2029.

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