Evolent reaffirms FY2025 Adj. EBITDA guidance $135-165M; secures Ares non-dilutive financing

Evolent Health, Inc.

Reaffirmed FY2025 Adj. EBITDA guidance $135-165M and Q2 2025 guidance $33-40M.
Oncology cost trend below expectations through May; if continues, expects Q2 Adj. EBITDA in top half of range.
Secured Commitment Letter with Ares for Incremental Facility to retire 2025 Convertible Notes; non-dilutive debt option.
Amendment No. 5 to Credit Agreement modifies liquidity test, adds default if Exchange not consummated.
Accelerating organic new revenue bookings forecast for 2026 go-lives due to high market demand.

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