Glossary

Adjusted EBITDA means EBITDA adjusted for net one-off gain or losses and non-cash IFRS provision expenses.

Adjusted EBITDAR means EBITDAR adjusted for net one-off gain or losses and non-cash IFRS provision expenses.

Average Revenue Per Bed is a metric, which provides us insight on our profitability on a per hospital bed basis; we derive this metric by dividing total revenue by number of total beds.

Average Utilization Rate is calculated as total minutes of bed usage divided by the product of (i) total number of beds (ii) number of operational days in a year (365 for all hospitals opened or acquired in a prior year) times (iii) 1,440 (number of minutes per day).

Bed Capacity, Number of Beds is the total number of beds available for inpatient treatments.

Contribution means contribution of each hospital to EBITDA excluding revenues from Other Ancillary Businesses, Contribution from Managed Hospitals and HQ expenses.

Developing Hospitals includes all hospitals in our portfolio other than mature or managed.

EBITDA (earnings before interest, taxes depreciation and amortization) is a financial measure that we derive from our Financial Statements. We measure Reported EBITDA by excluding from profit generated through continuing operations the impact of taxation, net finance costs, depreciation and amortization, and net (gains) / losses from the disposal of tangible and intangible assets and income from negative goodwill.

EBITDAR (earnings before interest, taxes depreciation, amortization and rent expenses) is a non-IFRS measure that we derive from our consolidated financial statements. We measure Reported EBITDAR by excluding from profit generated through continuing operations the impact of taxation, net finance costs, depreciation, amortization, net (gains) / losses from the disposal of tangible and intangible assets and income from negative goodwill and rent expenses.

Healthcare Applications Communique or SUT means the Healthcare Applications Communique of the SSI, published in the Official Gazette No. 28597 on March 24, 2013, as amended by the Amendment Communique dated April 21, 2015 (referred to in the Turkish healthcare industry as “SUT”, its Turkish abbreviation).

Inpatient Treatments mean all medical treatments requiring patients to stay in the hospital.

Inpatient Average Revenue Per Protocol is derived through dividing total inpatient revenue by total inpatient volume.

Mature Hospitals refers to hospitals opened, or acquired as well as integrated in the MLP IT system, prior to January 2015.

Outpatient Average Revenue Per Visit is derived through dividing total outpatient revenue by total outpatient volume.

Payor Mix is the distribution of patients treated in MLP Care’s hospitals according to payment types (private healthcare insurance, SSI, contracted institutions etc.).

Premium Segment includes patients demanding and have power to pay for Premium healthcare services.

SSI means the Social Security Institution (Sosyal Güvenlik Kurumu) of the Republic of Turkey, authorized under the Social Security and Universal Health Insurance (UHI) Law as the only governmental social security and health insurance organization providing general health insurance privileges to individuals in exchange for premiums. The SSI was formed through the merger and dissolution of three previous social security funds: Social Insurance Institution (Sosyal Sigortalar Kurumu—SSK), Government Employees Retirement Fund (Emekli Sandığı) and Social Security Institution for Artisans and the Self-Employed (Bağ-Kur).

SSI Agreement(s) means the Agreement for Purchase of Healthcare Services executed with the SSI to provide healthcare services to individuals with general health insurance financed by the SSI, as amended or restated from time to time by the SSI.

Top-up Insurance is a healthcare insurance type that covers additional fees and other expenses that are not paid by SSI.

Upper Mass includes patients demanding and have power to pay for high quality healthcare services.