InvestorPresentationNOVEMBER15,2021l(NYSEAmerican:INFU)

EnablingContinuityofCareforPatients,FromtheClinictoTheirHome

Forward-LookingStatements/Non-GAAPMeasures

Forward-LookingStatements

Certainstatementscontainedinthispresentationareforward-lookingstatementswithinthemeaningofSection27AoftheSecuritiesActof1933,asamended,andSection21EoftheSecuritiesExchangeActof1934,asamended,suchasstatementsrelatingtofutureactions,businessplans,objectivesandprospects,oursharerepurchaseprogramandcapitalallocationstrategy,futureoperatingorfinancialperformanceandguidance.Thewords“believe,”“may,”“will,”“estimate,”“continue,”“anticipate,”“intend,”“should,”“plan,”“expect,”“strategy,”“future,”“likely,”variationsofsuchwords,andothersimilarexpressions,astheyrelatetotheCompany,areintendedtoidentifyforward-lookingstatements.Forward-lookingstatementsaresubjecttofactors,risksanduncertaintiesthatcouldcauseactualresultstodiffermaterially,including,butnotlimitedto,theuncertainimpactoftheCOVID-19pandemic,ourdependenceonestimatesofcollectiblerevenue,potentiallitigation,changesinthird-partyreimbursementprocesses,changesinlaw,contributionsfromacquiredbusinessesornewbusinesslines,productsorservicesandotherriskfactorsdisclosedintheCompany’smostrecentannualreportonForm10-Kand,totheextentapplicable,quarterlyreportsonForm10-Q.Allforward-lookingstatementsmadeinthispresentationspeakonlyasofthedatehereof.InfuSystemdoesnotundertakeanyobligationtoupdateanyforward-lookingstatementstoreflectfutureeventsorcircumstances,exceptasrequiredbylaw.

Non-GAAPMeasures

ThispresentationcontainsinformationpreparedinconformitywithGAAPaswellasnon-GAAPfinancialinformation.TheCompanybelievesthatthenon-GAAPfinancialmeasurespresentedinthispresentationprovideusefulinformationtotheCompany’smanagement,investorsandotherinterestedpartiesabouttheCompany’soperatingperformancebecausetheyallowthemtounderstandandcomparetheCompany’soperatingresultsduringthecurrentperiodstotheprioryearperiodsinamoreconsistentmanner.Thisnon-GAAPinformationshouldbeconsideredbythereaderinadditionto,butnotinsteadof,thefinancialstatementspreparedinaccordancewithGAAP,andsimilarlytitlednon-GAAPmeasuresmaybecalculateddifferentlybyothercompanies.TheCompanycalculatesthosenon-GAAPmeasuresbyadjustingfornonrecurringornon-coreitemsthatarenotpartofthenormalcourseofbusinessandthattheCompany’smanagementdoesnotbelievewillhavesimilarcomparableyear-over-yearitems.AreconciliationofthosemeasurestothemostdirectlycomparableGAAPmeasuresisprovidedinAppendixAofthispresentation.

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InvestmentHighlights EnterpriseValue*$372M

MarketCap*

$341MSharesOut20.6M

2020Revenue$97.4M,Up20%y/y

2021RevenueGuidance$107M–$110M

Providingbest-in-classdurablemedicalequipmentandpatientservicesfacilitatingclinic-to-homecare

$10BU.S.andCanadaHomeDMEmarket;growthdrivenbymedicalinnovation,anagingpopulation,needtomanagehealthcarecostsandincreasedpatientcomfort

Gainingmarketsharebydelivering“thelast-milesolution”forhealthcareproviders,DMEmanufacturers,patientsandhealthplans

Double-digitgrowththroughtwoprovenbusinessplatforms:DurableMedicalEquipment(DME)andIntegratedTherapyServices(ITS)

StrategytocontinueleveragingDMEandITSplatformsbyenteringnewmultibillion-dollartherapymarkets

*Market data as of November 10, 2021

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*Source:U.S.News&WorldReport,BestHospitals,July2021

Focus,ScaleandExperience

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Aleadingproviderofequipmentandserviceswitha100K+devicefleetinthe

U.S.andCanada

35-yearhistory,perfectedmodelinOncologyandnowexpandingintomultipletherapies

SevenmajorserviceareasintheU.S.andCanadanearly400employees

Nationalscale,serving15outof20tophospitalsnationwide*

Third-partypayercontractscoveringnearly95%oftheU.S.population,providingsolutions

to6,500+sitesofcare

Infrastructureandservicesaredeviceagnosticandscalabletosupportmultipletherapies

HighROIoncapitalinvestments;wepurchaseequipmentonlywhennewbusinessisbeing

onboarded,oursalesforceishighlyscalableandwehavenoR&Dexpense

TwoProvenBusinessPlatformsGrowthDrivenbyMarketShareGainsandNewTherapyOpportunities

DME$36.3M(37%)

SALESBYSEGMENT

Total2020Revenue:

$97.4million

ITS$61.1M(63%)

INTEGRATEDTHERAPYSERVICES(ITS)Facilitateoutpatientcareforpatientsrequiringtherapyutilizingdurablemedicalequipment

DURABLEMEDICALEQUIPMENT(DME)SUPPORTSERVICESEquipmentandconsumablesales/leasetohospitals,clinicsandhomeinfusionproviders

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Well-Diversified&StrategicPayerRelationshipsPercentageofCashCollectedbyPayer2020

Uninsured:0.3%

6,500+DirectPayHospitalandAlternateSiteCustomers

Hospital/AlternateSiteDirectPay:47.7%

Medicaid:1.3%

CommercialPayer:50.7%NoSinglePayerGreaterThan11.0%

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MedicalDevice

Sale/LeasetoHospitals&Clinics

SourceDevices

SupplyConsumablestoHospitals&Clinics

DeviceRepair&Maintenance

DMEPlatformTraditionalMedicalDistribution,Lower-Margin,High-TurnModel

•PumprentalsandVARsales(newdevices)Broker/tradersales(useddevices)•Biomedicalserviceandrepair

Directpayermodel:INFUispaiddirectlybythehospital/clinic/homecareprovider

DirectPayerModel

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ClinicalSupport/CaseManagement

DeviceLogistics

MedicalDevice

RevenueCycleManagement

DeviceRepair&Maintenance

ITSPlatformUniqueandScalable,High-Margin,High-ServiceModel

SupplymedicalequipmentandproprietaryconsumablesforoutpatientcareHospital,clinicianandpatientcustomerserviceThird-partypayermodel:INFUispaidbythepatient’smedicalinsuranceprovider

Third-PartyPayerModel

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CompetitiveAdvantagesSignificantBarrierstoEntryBasedonUniqueFocus,NationalScaleandEstablishedPayerNetwork

PatientWellness

PatientSafetyInfuSystemOnlineResourceistheonlypatientresourcefacilitatingtwo-way

patientandclinicalteamcommunicationtomaintainpeaceofmind.

ScalabilityOver6,500customers–completecoverageoftheU.S.andCanadaincludingsevenservicefacilities.

ClinicalCareInfuSystem24/7NursingTeamprovides

continuouspatientsupporttominimizeriskandimproveoutcomes.Ourworkflow

solutionsforcliniciansencouragebestpracticestandards.

PayerContractsParticipatingin-networkproviderwithover750healthinsuranceplanscovering95%oftheU.S.population.Quality&Compliance

ISO9001certifiedandISO13485certifiedatselectsites–seebelow.*CHAPAccredited.

BiomedicalServicesWorld-classbiomedicalservicesgroupprovidingon-siteanddepotpreventativemaintenance,repairandwarrantyserviceandphysicalinventorymanagement.

CentralizedBillingSolutionDedicatedrevenuecyclemanagementteamofexperts.

“Thepatientisatthecenterofeverythingwedo.”

*

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GrowthStrategyAddingNewHigh-MarginTherapySegments&BiomedicalServices

Oncology

Evaluation Go-to-MarketStrategy

Launch Growth/Traction Established

Highlyscalableinfrastructure

Currentlyevaluatingmultipletherapiesthroughpartnershipandacquisitionwithmultibillion-dollarTAM

Leveragerecognizedcorecompetenciestogainandsustaintherapyleadership

$97.4million2020revenue

Over$900millioncurrentrealizableopportunities

Potentialfuturetherapysegments

PainManagement

NegativePressureWoundTherapy

FutureTherapies

BiomedicalServices

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LymphedemaTherapy

HighlyScalableExistingInfrastructure

OfficesandLogistics

• FullCoverageoftheU.S.andCanada(MI,KS,CA,MA,TX,Ontario)

SalesandMarketing

• Territorieswithoverlappingcoverageandincentivefornewtherapies

• Staffingefficienciestoservicemultipletherapies

RevenueCycleTeam/CaseManagement

• Automatedsystemsandgreatlyimprovedproductivity

• Existingpayerrelationshipsareakeycompetitiveadvantage

35YearsofExperience,Know-HowandReputationforExcellence

• Criticalmasswithfocusonbest-in-classservices

• Device-andtherapy-agnosticlogistics,service,billingmodel

• Devicemanufacturerrelationshipsofferfutureopportunities

Oncology

PainManagement

NPWT

Lymphedema

FutureTherapies

FoundationBuiltInOncology:LeveragedItMultipleTimes(Pain,NPWT,Lymphedema)

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Opportunity:OncologyHomeTreatment•Largecapitalexpenseforclinicsinadditiontomaintenanceandnightlytriage•Reducedstaffavailabletohelppatientswithinfusionpumpquestionsandbilling

Solution:OutpatientTreatment•Infusiondevicesfleet,inventoriedandreadyfordistribution•Patientmaintainsqualityoflife(work,events,family,restintheirownhome)•Clinicsmaintaincontrolofpatientcareandmedication•Increasedpatientsatisfaction

Delivery:InfuSystemITS•Oncologymarketleaderwithover2,100sitesofcare•Changedparadigmofcareforpatients,providersandpayers•Mitigatesrisk,managementandmaintenanceofinfusionpumps•Reducesclinicianandstaffworkloadtoallowgreaterfocusonpatientcare•Managesmedicalbillingandreimbursementprocess•Casemanagersprovidepumpeducation,billingassistanceandadditional24/7care

ITSModel:PlatformProveninOncologyInfuSystemITSValueProposition

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ThirdQuarterFinancialResults

NetRevenue

NetIncome

AEBITDA

OpCashFlow

20212020

20212020

20212020

20212020

$26.6M

$25.1M

$5.5M

$7.6M

$5.8M

$8.4M

(1)SeeAppendixA.

$(0.4)M

$2.9M

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(1)

NineMonthsEndedFinancialResults

NetRevenue

NetIncome

AEBITDA

OpCashFlow

20212020

20212020

20212020

20212020

$75.9M

$72.7M

$17.5M

$20.1M

$14.6M

$12.7M

(1)SeeAppendixA.

$1.0M

$6.7M

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(1)

FullYearFinancialResults

NetRevenue

NetIncome

AEBITDA

OpCashFlow

20202019

20202019

20202019

20202019

$97.4M

$81.1M

$17.3M

$1.4M

$26.4M

$18.4M

$20.3M

$13.9M

(1)SeeAppendixA.

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(1)

2017A 2018A 2019A 2020A 2021E$0

$20

$40

$60

$80

$100

$120

$

$5

$10

$15

$20

$25

$30

Notes:1. 2017consolidatedrevenueshavebeenadjustedtoreflecttheeffectoftheadoptionofASC606in2018.2. SeeAppendixA.

Revenue($Millions)

FinancialTrend&Current2021Guidance

AnnualNetRevenueAnnualAEBITDA Q3YTDNetRevenueQ3YTDAEBITDA

AEBITD

A($M

illions)

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NetRevenues(1)&AEBITDA(2)

$65.5 $67.1

$81.1

$97.4 $107.0–$110.0

$26.4 $27.0–$28.0

$18.4

$13.8

$11.6

$20.1

$17.5

$72.7$75.9

FinancialTrend&CurrentTargets

AnnualCashFlowsFromOperationsAnnual%ofProFormaNetRevenue Q3YTDCashFlowsFromOperations

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2017A 2018A 2019A 2020A 2021E$0.0

$1.5

$3.0

$4.5

$6.0

$7.5

$9.0

$10.5

$12.0

$13.5

$15.0

$16.5

$18.0

$19.5

$21.0

$22.5$24.0

11.0%

12.0%

13.0%

14.0%

15.0%

16.0%

17.0%

18.0%

19.0%

20.0%

21.0%

22.0%

23.0%

24.0%

($Millions)

%ofN

etRevenue

CashFlowsFromOperations

$12.7

$14.6

$11.4

$7.7

$13.9

$20.3$19.0–$22.0

RecentAccomplishments

LaunchedLymphedemaTherapyinITSplatformviajointagreementwithBioCompressionSystems,Inc.—June2021

Raisedannualrevenue,adjustedEBITDAandoperatingcashflowtargets—November2020

Strongexecutiondespiteexternalforcesandconditions;particularlythepandemic—2020

Proactivepatientengagementinitiativelaunchedtoimproverevenuecyclemanagement—Q12020

EnterednegativepressurewoundtherapymarketwithpartnerCardinalHealth—February2020

Acquisitionandintegrationoftwobiomedicalservicescompanies;enablingentryintoacutecareservicemarket—Early2021

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ExecutednewagreementtoexclusivelyprovideInfuBLOCK®PainManagementTherapyservicestoleadingU.S.healthcareprovider—November2021

CorporatePriorities

ContinuesteadygrowthinOncologybusinesswithnewcustomersandtreatments

ExpandPainManagementandNPWTmarketshare

Announcenewcontractswithhealthplansandhealthcaresystems

EnterintonewpartnershipstodevelopadditionalITStherapymarkets

Continuetodriveimprovedoperationalefficienciesandmarginexpansion

BeginonboardingnewcustomersfornewLymphedemaTherapyin2022–2023

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ExecutiveTeamSeasonedIndustryExperience,Including:Pharmaceutical,HealthCare,LifeSciences,MedicalDevice,AutomotiveOEM,PublicAccounting,Military,Retail,ConsumerBrands,DigitalAdvertising,Consulting&High-Tech

JeannineLombardiSheehan–ExecutiveVicePresident&ChiefAdministrativeOfficer

JoinedInfuSystem:2019

TomRuiz–ExecutiveVicePresident&ChiefCommercialOfficerJoinedInfuSystem:2010

BarrySteele–ExecutiveVicePresident&ChiefFinancialOfficerJoinedInfuSystem:2020

RichardDiIorioChiefExecutiveOfficer&Director

JoinedInfuSystem:2004

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CarrieLachance,BSN,RN,CRNI–President&ChiefOperatingOfficerJoinedInfuSystem:2010

Summary

Twoprovenplatformsthatenablethedeliveryofpatientcarefromtheclinicintothehome,drivingdouble-digitrevenue,cashflowgrowthandacceleratingprofit

Marketopportunitiesdrivenbyrisinghealthcarecosts,anagingpopulation,medicalinnovation,patientsatisfactionandotherfactors

Gainingshareinagrowingmarketbyprovidingbest-in-classproducts,talentandpatientservices

Sustainablecompetitiveadvantagesbyservingmultiplestakeholdersonanationalscale

Strategytoaddnewtherapiesutilizingexistingplatformsandleveragingcurrentinfrastructure

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Questions&Answers

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AppendixAGAAPtoNON-GAAPReconciliation

(1)Amountsrepresentanon-cashexpenserecordedasareserveformissingmedicalequipmentandisbeingaddedbackduetoitssimilaritytodepreciation.Amountsforthepriorperiod,whichwerenotpreviouslyincludedinthecalculationofadjustedEBITDA,havebeenincludedforcomparability.

NETINCOME(LOSS)TOADJUSTEDEBITDA: TwelveMonthsEndedDecember31,

ThreeMonthsEndedSeptember30,

NineMonthsEndedSeptember30,

(inthousands) 2017 2018 2019 2020 2020 2021 2020 2021

GAAPnet(loss)income $ (20,707) $ (1,095) $ 1,361 $ 17,332 $ 2,940 $ (448) $ 6,662 $ 1,033

Adjustments:Interestexpense 1,332 1,420 1,904 1,255 283 270 1,018 909Incometax(benefit)provision 15,450 53 163 (9,789) 38 (217) 92 (874)Depreciation 6,963 6,659 7,940 9,740 2,485 2,615 7,267 7,705Assetimpairment 993 — — — — — — —Amortization 5,560 4,649 4,402 4,285 1,075 1,125 3,225 3,264

Non-GAAPEBITDA $ 9,591 $ 11,686 $ 15,770 $ 22,823 $ 6,821 $ 3,345 $ 18,264 $ 12,037

Stockcompensationcosts 682 957 997 2,610 659 1,955 1,222 4,962Medicalequipmentreserve(1) (69) 48 218 178 12 68 64 482ASC842accountingprinciplechange — — 252 — — — — —Officemoveexpenses — — 258 17 — — 17 —Acquisitioncosts — — — — — 7 — 154SOXreadinesscosts — — — — — 68 — 86Restatementcosts 28 — — — — — — —Earlyterminationfeesforcapitalleases 292 98 190 — — — — —Exitedfacilitycosts — 44 — — — — — —Managementreorganization/transitioncosts 737 250 76 521 10 6 471 34Feestointegratebusinessofotherprovider — — 163 — — — — —Contestedproxyandothershareholdercosts 200 251 23 30 — — 30 —Certainothernon-recurringcosts 160 476 491 220 53 46 57 (221)

Non-GAAPAdjustedEBITDA $ 11,621 $ 13,810 $ 18,438 $ 26,399 $ 7,555 $ 5,495 $ 20,125 $ 17,534

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(1)Calculatedasthecashplusborrowingavailabilityunderrevolvingbankloans.

AppendixBSelectBalanceSheetData

(InThousands)December31,

2019December31,

2020September30,

2021

CashandCashEquivalents $ 2,647 $ 9,648 $ 165

AvailableLiquidity(1) $ 12,497 $ 20,436 $ 43,561

WorkingCapital,LessCash&CurrentDebt $ 2,893 $ 6,549 $ 7,552

MedicalEquipment,Net $ 33,225 $ 35,611 $ 36,431

TotalAssets $ 79,224 $ 96,991 $ 94,786

TotalDebt $ 38,377 $ 38,801 $ 30,895

TotalLiabilities $ 56,890 $ 56,239 $ 48,331

TotalStockholders’Equity $ 22,334 $ 40,752 $ 46,455

OutstandingShares 19,882 20,298 20,607

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