EFTA01453043.pdf

4 February 2014 Health Care Facilities and Services HCA Holdings, Inc. 'Figure 4: SS inpatient surgeries as a % of SS inpatient admissions 314% 311% 330% 0% 319% 320% 1 31,3 310% 0,4 not 21914 300% 294% 293% as% nen 190% • 2Bat J 210% MD% ISO% e KR 1007 MOO 1409 2010 ' 2011 1012 2012 3012 44112 1011 2011 1013 0013 .1. °11. 300 SJ,Harin as a %M admittes /Oa 0441.01•11Orst 00.09 •444,0111 EBITDA & margin trends. Adjusted EBITDA was $1.714 billion (+6.7% yoy) vs. Street $1.647 billion (+2.5% yoy) and DBe $1.685 billion (+4.9% yoy) On 1/12 HCA previewed its 2013 EBITDA at $65-$75 above the high-end of its previously established guidance range of $6.25 billion to $6.5 billion which put implied Q4 EBITDA -1.71 billion, so O4 was in-line with preview. Adjusted EBITDA margin was 19.4% vs. consensus 18.7% / DBe 19.0%. HCA continues to manage costs well, especially in the context of a softer volume environment. [Figure 5: Margin vends WA troons....p• sir owl len sea 1011 400 Nit 100 3011 3013 4013 1•49 14.4404romersseemoressammea0 00 . 3•0410, .4.c..% 0R MR. ..111• 10 R. OR OR .01R 0.16 .31.1% 4.17% 0R ‘Gpm. • •t% ro 1,119 Ion US% 1.10b II R /01 Mn 04% irR. In liR "" R i..... " OM< IS 11.1% OR 0.1% OR 1.03% OM 1011. .N,a, .3•10 34.' 1" 1:It 0.4S1 us% lilt on. .4sF1\!% no% no% um len sem cammeteentromminsa I II 10444 ttroelma•• IOW.. 16.00 41 11.8/30 a W40 $103 0 1000 KR. II loo 04430 ' , run 1....1 +Revd MOIR,* %err Ino..0 I) OA ;$.4%) )1.% In e100 MO% E• 140% X./lb rim tee% Is A .044414•044...01.4%14441 1110141 1, 'MO te40/0 liftel O SOW) 119 SeSee II IMO 11.6.10 VIM< MRS: .44.44 on./ nncroempe % am. •••••••01 0 %. DM IOU. 14.1% III% AI% MR 0 lc% MR 138‘. ',NWT Ai Rverd WV.' :R. 1 awl ' 44% 1001 OM .20V• la •u a 4A 4N en 4.1 /sac reirenne 10 nano A 3ii 23 03.1 MO W31 III OM 0 0) II .e1 .434.44 terceins nivel' eee RS /.1.4 OM 3.0% OR IIR 11.1% OR ON OR 23% ....0.1E( ,4100,0F04 NO, IR 110, 0I 1130 3.0.1 444 0 1) OR (101 f/I* 1232., 5 0 :4 :W. I, (non./ (c.re,..R04 aotorm ,...nr.notant WE. ! Sant' Calpa Bs% fawn , 404/0 J Balance Sheet and Cash Flow tends. Q4 cash flow from operations (CFFO) was $1.226 billion -2.9% yoy, with O4'2012 $1.263 billion. Capex was $596 million or 6.7% of net revenues vs. O4'2012 of $594 million or 7.0% of net revenues. HCA repurchased $500 million of shares outstanding in O4. Pogo 6 Deutsche Bank Securities Inc. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0110436 CONFIDENTIAL SDNY_GM_00256620 EFTA01453043