GlobeNewswire Inc | Feb 24, 2021 04:05PM EST

February 24, 2021

BATON ROUGE, La., Feb. 24, 2021 (GLOBE NEWSWIRE) -- Amedisys, Inc. (NASDAQ: AMED) today reported its financial results for the three-month period and year ended December31, 2020.

Three-Month Periods Ended December31, 2020 and 2019

-- Net service revenue increased $50.0million to $550.7million compared to $500.7million in 2019. -- Net income attributable to Amedisys, Inc. of $45.2million compared to $27.7million in 2019. -- Net income attributable to Amedisys, Inc. per diluted share of $1.36 compared to $0.83 in 2019.

Adjusted Quarterly Results*

-- Adjusted EBITDA of $78.1million compared to $52.2million in 2019. -- Adjusted net service revenue of $550.7million compared to $500.7million in 2019. -- Adjusted net income attributable to Amedisys, Inc. of $49.5million compared to $31.1million in 2019. -- Adjusted net income attributable to Amedisys, Inc. per diluted share of $1.49 compared to $0.94 in 2019.

Years Ended December31, 2020 and 2019

-- Net service revenue increased $115.9million to $2,071.5million compared to $1,955.6million in 2019. -- Net income attributable to Amedisys, Inc. of $183.6million compared to $126.8million in 2019. -- Net income attributable to Amedisys, Inc. per diluted share of $5.52 compared to $3.84 in 2019.

Adjusted Year End Results*

-- Adjusted EBITDA of $273.5million compared to $225.3million in 2019. -- Adjusted net service revenue of $2,071.5million compared to $1,961.6million in 2019. -- Adjusted net income attributable to Amedisys, Inc. of $203.3million compared to $145.2million in 2019. -- Adjusted net income attributable to Amedisys, Inc. per diluted share of $6.11 compared to $4.40 in 2019.

*See pages 13-16 for the definition and reconciliations of non-GAAP financial measures to GAAP measures.

2021 Guidance

-- Net service revenue is anticipated to be in the range of $2.275 billion to $2.315 billion. -- Adjusted EBITDA is anticipated to be in the range of $315 million to $325 million. -- Adjusted diluted earnings per share is anticipated to be in the range of $6.25 to $6.47 based on an estimated 33.4 million shares outstanding.

This guidance excludes the effects of any future acquisitions and potential share repurchases, if any are made.

Executive Promotions

On February18, 2021, the Board of Directors (the Board) of the Company promoted Christopher T. Gerard, currently the Companys Chief Operating Officer, to President and Chief Operating Officer and Scott G. Ginn, currently the Companys Chief Financial Officer, to Executive Vice President and Chief Financial Officer, effective immediately.

Paul B. Kusserow, Chairman and Chief Executive Officer stated, I am very proud of our fourth quarter and full year 2020 results. This was an incredible year under normal circumstances, throw in PDGM and a pandemic and I really could not be more proud of the team for all we accomplished. A special thank you to all of our clinician staff for continuing to do what you do best. It is because of your compassion, bravery and tireless efforts that we are able to deliver another great quarter. I would also like to congratulate Chris Gerard on his promotion to President and COO and Scott Ginn on his promotion to Executive Vice President and CFO. Chris and Scott have been integral to both the companys operational success as well as in setting our strategic direction. This is a fitting reward for their great work!

We urge caution in considering the current trends and 2021 guidance disclosed in this press release. The home health, hospice and personal care industries are highly competitive and subject to intensive regulations, and trends are subject to numerous factors, risks, and uncertainties, some of which are referenced in the cautionary language below and others that are described more fully in our reports filed with the Securities and Exchange Commission (SEC) including our Annual Report on Form 10-K for the fiscal year ended December31, 2020, and subsequent Quarterly Reports on Form 10-Q, and current reports on Form 8-K which can be found on the SECs internet website, http://www.sec.gov, and our internet website, http://www.amedisys.com.

Earnings Call and Webcast Information

Amedisys will host a conference call on Thursday, February25, 2021, at 11:00 a.m. ET to discuss its fourth quarter and year end results. To participate on the conference call, please call before 11:00 a.m. ET to either (877) 524-8416 (Toll-Free) or (412) 902-1028 (Toll). A replay of the conference call will be available through March25, 2021 by dialing (877) 660-6853 (Toll-Free) or (201) 612-7415 (Toll) and entering conference ID #13715337.

A live webcast of the call will be accessible through our website on our Investor Relations section at the following web address: http://investors.amedisys.com.

Non-GAAP Financial Measures

This press release includes reconciliations of the most comparable financial measures calculated and presented in accordance with accounting principles generally accepted in the U.S. (GAAP) to non-GAAP financial measures. The non-GAAP financial measures as defined under SEC rules are as follows: (1)adjusted EBITDA, defined as net income attributable to Amedisys, Inc. before net interest expense, provision for income taxes and depreciation and amortization, excluding certain items; (2)adjusted net service revenue, defined as net service revenue excluding certain items; (3)adjusted other operating income, defined as other operating income excluding certain items; (4)adjusted net income attributable to Amedisys, Inc., defined as net income attributable to Amedisys, Inc. excluding certain items; and (5)adjusted net income attributable to Amedisys, Inc. per diluted share, defined as net income attributable to Amedisys, Inc. common stockholders per diluted share excluding certain items. Management believes that these non-GAAP financial measures, when reviewed in conjunction with GAAP financial measures, are useful gauges of our current performance and are also included in internal management reporting. These non-GAAP financial measures should be considered in addition to, and not more meaningful than or as an alternative to the GAAP financial measures presented in this earnings release and the companys financial statements. Non-GAAP measures as presented herein may not be comparable to similarly titled measures reported by other companies since not all companies calculate these non-GAAP measures consistently.

Additional Information

Amedisys, Inc. (the Company) is a leading healthcare at home company delivering personalized home health, hospice and personal care. Amedisys is focused on delivering the care that is best for our patients, whether that is home-based personal care; recovery and rehabilitation after an operation or injury; care focused on empowering our patients to manage a chronic disease; or hospice care at the end of life. More than 2,900 hospitals and 78,000 physicians nationwide have chosen Amedisys as a partner in post-acute care. Founded in 1982, headquartered in Baton Rouge, LA with an executive office in Nashville, TN, Amedisys is a publicly held company. With approximately 21,000 employees in 514 care centers within 39 states and the District of Columbia, Amedisys is dedicated to delivering the highest quality of care to the doorsteps of more than 418,000 patients and clients in need every year. For more information about the Company, please visit: www.amedisys.com.

We use our website as a channel of distribution for important company information. Important information, including press releases, investor presentations and financial information regarding our company, is routinely posted on and accessible on the Investor Relations subpage of our website, which is accessible by clicking on the tab labeled Investors on our website home page. Visitors to our website can also register to receive automatic e-mail and other notifications alerting them when new information is made available on the Investor Relations subpage of our website.

Forward-Looking Statements

When included in this press release, words like believes, belief, expects, strategy, plans, anticipates, intends, projects, estimates, may, might, could, would, should and similar expressions are intended to identify forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a variety of risks and uncertainties that could cause actual results to differ materially from those described therein. These risks and uncertainties include, but are not limited to the following: the impact of the novel coronavirus pandemic (COVID-19), including the measures that have been and may be taken by governmental authorities to mitigate it, on our business, financial condition and results of operations, changes in or our failure to comply with existing federal and state laws or regulations or the inability to comply with new government regulations on a timely basis, changes in Medicare and other medical payment levels, our ability to open care centers, acquire additional care centers and integrate and operate these care centers effectively, competition in the healthcare industry, changes in the case mix of patients and payment methodologies, changes in estimates and judgments associated with critical accounting policies, our ability to maintain or establish new patient referral sources, our ability to consistently provide high-quality care, our ability to attract and retain qualified personnel, our ability to keep our patients and employees safe, changes in payments and covered services by federal and state governments, future cost containment initiatives undertaken by third-party payors, our access to financing, our ability to meet debt service requirements and comply with covenants in debt agreements, business disruptions due to natural disasters or acts of terrorism, widespread protest or civil unrest, our ability to integrate, manage and keep our information systems secure, our ability to realize the anticipated benefits of acquisitions and changes in law or developments with respect to any litigation relating to the Company, including various other matters, many of which are beyond our control.

Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, you should not rely on any forward-looking statement as a prediction of future events. We expressly disclaim any obligation or undertaking and we do not intend to release publicly any updates or changes in our expectations concerning the forward-looking statements or any changes in events, conditions or circumstances upon which any forward-looking statement may be based, except as required by law.

Contact: Investor Contact: Media Contact: Amedisys, Inc. Amedisys, Inc. Nick Muscato Kendra Kimmons Senior Vice President, VicePresident,Marketing& Finance Communications (855) 259-2046 (225) 299-3720 IR@amedisys.com kendra.kimmons@amedisys.com

AMEDISYS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (Amounts in thousands, except per share data)

FortheThree-Month For the Years Ended PeriodsEndedDecember31, December31, 2020 2019 2020 2019 (Unaudited) Net service $ 550,705 $ 500,678 $ 2,071,519 $ 1,955,633 revenueOther operating 6,780 ? 34,372 ? incomeCost of service,excluding 306,736 295,603 1,185,369 1,150,337 depreciation andamortizationGeneral andadministrative expenses:Salaries and 119,119 101,325 449,448 394,452 benefitsNon-cash 6,972 6,589 26,730 25,040 compensationOther 49,506 48,150 192,122 188,434 Depreciation and 8,847 5,988 28,802 18,428 amortizationAsset impairment 4,152 1,470 4,152 1,470 charge Operating expenses 495,332 459,125 1,886,623 1,778,161 Operating income 62,153 41,553 219,268 177,472 Other income (expense):Interest income 34 19 292 78 Interest expense (2,363 ) (3,056 ) (11,038 ) (14,515 )Equity in earningsfrom equity method 1,567 1,218 3,966 5,338 investmentsMiscellaneous, net 649 (367 ) (1,669 ) 2,037 Total other (113 ) (2,186 ) (8,449 ) (7,062 )expense, net Income before 62,040 39,367 210,819 170,410 income taxesIncome tax expense (16,460 ) (11,398 ) (25,635 ) (42,503 ) Net income 45,580 27,969 185,184 127,907 Net incomeattributable to (429 ) (314 ) (1,576 ) (1,074 )noncontrollinginterests Net incomeattributable to $ 45,151 $ 27,655 $ 183,608 $ 126,833 Amedisys, Inc. Basic earnings per common share:Net incomeattributable toAmedisys, Inc. $ 1.38 $ 0.86 $ 5.64 $ 3.95 commonstockholdersWeighted average 32,825 32,278 32,559 32,142 shares outstandingDiluted earnings per common share:Net incomeattributable toAmedisys, Inc. $ 1.36 $ 0.83 $ 5.52 $ 3.84 commonstockholdersWeighted average 33,243 33,123 33,268 32,990 shares outstanding

AMEDISYS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (Amounts in thousands, except share data)

As of December31, 2020 2019 ASSETS Current assets: Cash and cash equivalents $ 81,808 $ 30,294 Restricted cash 1,549 66,196 Patient accounts receivable 255,145 237,596 Prepaid expenses 10,217 8,243 Other current assets 13,265 8,225 Total current assets 361,984 350,554 Property and equipment, net of accumulated 23,719 28,113 depreciation of $95,024 and $96,137Operating lease right of use assets 93,440 84,791 Goodwill 932,685 658,500 Intangible assets, net of accumulated 74,183 64,748 amortization of $22,973 and $7,044Deferred income taxes 47,987 21,427 Other assets 33,200 54,612 Total assets $ 1,567,198 $ 1,262,745 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 42,674 $ 31,259 Payroll and employee benefits 146,929 120,877 Accrued expenses 166,192 137,111 Provider relief fund advance 60,000 ? Current portion of long-term obligations 10,496 9,927 Current portion of operating lease liabilities 30,046 27,769 Total current liabilities 456,337 326,943 Long-term obligations, less current portion 204,511 232,256 Operating lease liabilities, less current portion 61,987 56,128 Other long-term obligations 33,622 5,905 Total liabilities 756,457 621,232 Equity: Preferred stock, $0.001 par value, 5,000,000 ? ? shares authorized; none issued or outstandingCommon stock, $0.001 par value, 60,000,000 sharesauthorized; 37,470,212 and 36,638,021 shares 38 37 issued; and 32,814,278 and 32,284,051 sharesoutstandingAdditional paid-in capital 698,287 645,256 Treasury stock at cost, 4,655,934 and 4,353,970 (319,092 ) (251,241 )shares of common stockAccumulated other comprehensive income ? 15 Retained earnings 429,991 246,383 Total Amedisys, Inc. stockholders? equity 809,224 640,450 Noncontrolling interests 1,517 1,063 Total equity 810,741 641,513 Total liabilities and equity $ 1,567,198 $ 1,262,745

AMEDISYS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS AND DAYS REVENUE OUTSTANDING (Amounts in thousands, except statistical information)

FortheThree-Month For the Years Ended PeriodsEndedDecember31, December31, 2020 2019 2020 2019 (Unaudited) Cash Flows fromOperating Activities:Net income $ 45,580 $ 27,969 $ 185,184 $ 127,907 Adjustments toreconcile net incometo net cash provided by operatingactivities:Depreciation and 8,847 5,988 28,802 18,428 amortizationNon-cash 6,972 6,589 26,730 25,040 compensationNon-cash 401(k) ? 2,964 ? 10,509 employer matchAmortization andimpairment of 9,991 8,891 39,140 35,905 operating leaseright of use assetsLoss (gain) ondisposal of property 47 135 (30 ) 141 and equipmentLoss on sale ofequity method ? ? 2,980 ? investmentWrite-off of other ? ? (15 ) ? comprehensive incomeDeferred income (23,798 ) (4,332 ) (26,560 ) 13,466 taxesEquity in earningsfrom equity method (1,567 ) (1,218 ) (3,966 ) (5,338 )investmentsAmortization ofdeferred debt 216 220 869 873 issuance costs/debtdiscountReturn on equity 1,525 1,228 5,444 4,955 investmentAsset impairment 4,152 1,470 4,152 1,470 chargeChanges in operatingassets andliabilities, net of impact ofacquisitions:Patient accounts (4,372 ) 15,323 2,114 (24,146 )receivableOther current assets 21,036 7,512 (7,181 ) (2,682 )Other assets 122 630 31 832 Accounts payable 3,568 (3,184 ) 1,941 (11,329 )Accrued expenses 14,245 14,193 39,839 42,096 Other long-term (10,764 ) (98 ) 27,717 (329 )obligationsOperating lease (9,119 ) (8,179 ) (34,695 ) (32,295 )liabilitiesOperating lease (769 ) (881 ) (3,544 ) (3,503 )right of use assets Net cash provided by 65,912 75,220 288,952 202,000 operating activities Cash Flows fromInvesting Activities:Proceeds from saleof deferred 7 161 101 448 compensation planassetsProceeds from thesale of property and ? 4 80 162 equipmentPurchases ofproperty and (2,337 ) (1,551 ) (5,332 ) (7,888 )equipmentInvestments inequity method ? ? (875 ) (210 )investeesProceeds from saleof equity method ? ? 17,876 ? investmentAcquisitions ofbusinesses, net of 765 ? (298,958 ) (345,460 )cash acquired Net cash used in (1,565 ) (1,386 ) (287,108 ) (352,948 )investing activities Cash Flows fromFinancing Activities:Proceeds fromissuance of stock 255 223 6,325 3,611 upon exercise ofstock optionsProceeds fromissuance of stock to 962 803 3,562 3,187 employee stockpurchase planShares withheld topay taxes on (321 ) (171 ) (54,493 ) (9,556 )non-cashcompensationNon-controllinginterest (450 ) (152 ) (1,122 ) (1,062 )distributionProceeds fromborrowings under ? ? ? 175,000 term loanProceeds fromborrowings under 252,200 70,000 684,200 262,500 revolving line ofcreditRepayments ofborrowings under (346,200 ) (67,000 ) (703,200 ) (200,000 )revolving line ofcreditPrincipal paymentsof long-term (2,889 ) (1,804 ) (10,249 ) (5,624 )obligationsDebt issuance costs ? ? ? (847 )Provider relief fund ? ? 60,000 ? advance Net cash (used in)provided by (96,443 ) 1,899 (14,977 ) 227,209 financing activitiesNet (decrease)increase in cash, (32,096 ) 75,733 (13,133 ) 76,261 cash equivalents andrestricted cashCash, cashequivalents and 115,453 20,757 96,490 20,229 restricted cash atbeginning of period Cash, cashequivalents and $ 83,357 $ 96,490 $ 83,357 $ 96,490 restricted cash atend of period SupplementalDisclosures of Cash Flow Information:Cash paid for $ 1,305 $ 1,872 $ 6,207 $ 9,628 interest Cash paid for incometaxes, net of $ 20,431 $ 11,866 $ 50,721 $ 29,522 refunds received Days revenue 40.2 40.9 40.2 40.9 outstanding (1)

(1)Our calculation of days revenue outstanding, net is derived by dividing our ending net patient accounts receivable at December 31, 2020 and 2019 by our average daily net patient service revenue for the three-month periods ended December 31, 2020 and 2019, respectively.

AMEDISYS, INC. AND SUBSIDIARIES SEGMENT INFORMATION (Amounts in millions, except statistical information) (Unaudited)

Segment Information - Home Health

FortheThree-MonthPeriods EndedDecember31, 2020 2019 Financial Information (in millions): Medicare $ 228.3 $ 215.2 Non-Medicare 101.1 101.0 Net service revenue 329.4 316.2 Other operating income 2.5 ? Cost of service 186.1 191.7 Gross margin 145.8 124.5 Asset impairment charge 3.4 1.5 Other operating expenses 81.5 77.4 Operating income $ 60.9 $ 45.6 Same Store Growth (1): Medicare revenue 6 % 2 %Non-Medicare revenue ? % 10 %Total admissions 6 % 4 %Total volume (2) 5 % 4 %Key Statistical Data - Total (3): Admissions 85,474 81,024 Recertifications 45,932 44,072 Total volume 131,406 125,096 Medicare completed episodes (6) 80,008 77,291 Average Medicare revenue per completed episode $ 2,906 $ 2,852 (4) (6)Medicare visits per completed episode (5) (6) 14.0 16.8 Visiting Clinician Cost per Visit $ 92.62 $ 85.82 Clinical Manager Cost per Visit $ 9.38 $ 8.44 Total Cost per Visit $ 102.00 $ 94.26 Visits 1,824,557 2,034,550

FortheYearsEnded December31, 2020 2019 Financial Information (in millions): Medicare $ 847.3 $ 859.2 Non-Medicare 401.9 397.2 Net service revenue 1,249.2 1,256.4 Other operating income 20.2 ? Cost of service 729.9 754.1 Gross margin 539.5 502.3 Asset impairment charge 3.4 1.5 Other operating expenses 311.1 301.4 Operating income $ 225.0 $ 199.4 Same Store Growth (1): Medicare revenue (1 %) 4 %Non-Medicare revenue 1 % 16 %Total admissions 1 % 7 %Total volume (2) 2 % 5 %Key Statistical Data - Total (3): Admissions 331,354 328,693 Recertifications 181,195 172,568 Total volume 512,549 501,261 Medicare completed episodes (6) 301,856 306,520 Average Medicare revenue per completed episode $ 2,836 $ 2,853 (4) (6)Medicare visits per completed episode (5) (6) 14.9 17.0 Visiting Clinician Cost per Visit $ 89.62 $ 83.11 Clinical Manager Cost per Visit $ 9.17 $ 8.04 Total Cost per Visit $ 98.79 $ 91.15 Visits 7,388,549 8,273,308

(1)Same store information represents the percent change in our Medicare, Non-Medicare and Total revenue, admissions or volume for the period as a percent of the Medicare, Non-Medicare and Total revenue, admissions or volume of the prior period. Effective July1, 2019, same store is defined as care centers that we have operated for at least the last twelve months and startups that are an expansion of a same store care center. (2)Total volume includes all admissions and recertifications. (3)Total includes acquisitions and denovos. (4)Average Medicare revenue per completed episode is the average Medicare revenue earned for each Medicare completed episode of care. Average Medicare revenue per completed episode for the three-month period and year ended December31, 2020 reflects the the transition to PDGM effective January1, 2020 and the suspension of sequestration effective May1, 2020. (5)Medicare visits per completed episode are the home health Medicare visits on completed episodes divided by the home health Medicare episodes completed during the period. (6)Prior year amounts have been recast to conform to the current year calculation.

Segment Information - Hospice

FortheThree-MonthPeriods Ended December31, 2020 2019 Financial Information (in millions): Medicare $ 193.5 $ 156.6 Non-Medicare 10.4 8.0 Net service revenue 203.9 164.6 Other operating income 4.2 ? Cost of service 107.5 89.2 Gross margin 100.6 75.4 Asset impairment charge 0.8 ? Other operating expenses 48.5 38.2 Operating income $ 51.3 $ 37.2 Same Store Growth (1): Medicare revenue 4 % 9 %Hospice admissions 15 % 1 %Average daily census ? % 8 %Key Statistical Data - Total (2): Hospice admissions 13,939 10,139 Average daily census 13,793 11,660 Revenue per day, net $ 160.72 $ 153.42 Cost of service per day $ 84.72 $ 83.13 Average discharge length of stay 102 100 FortheYearsEnded December31, 2020 2019 Financial Information (in millions): Medicare $ 710.0 $ 586.6 Non-Medicare 40.1 30.6 Net service revenue 750.1 617.2 Other operating income 13.1 ? Cost of service 400.6 335.1 Gross margin 362.6 282.1 Asset impairment charge 0.8 ? Other operating expenses 177.6 139.1 Operating income $ 184.2 $ 143.0 Same Store Growth (1): Medicare revenue 4 % 7 %Hospice admissions 6 % 4 %Average daily census 1 % 7 %Key Statistical Data - Total (2): Hospice admissions 49,694 40,194 Average daily census 13,081 11,164 Revenue per day, net $ 156.69 $ 151.47 Cost of service per day $ 83.67 $ 82.24 Average discharge length of stay 99 98

(1)Same store information represents the percent change in our Medicare revenue, Hospice admissions or average daily census for the period as a percent of the Medicare revenue, Hospice admissions or average daily census of the prior period. Effective July1, 2019, same store is defined as care centers that we have operated for at least the last twelve months and startups that are an expansion of a same store care center. (2)Total includes acquisitions and denovos.

Segment Information - Personal Care

FortheThree-MonthPeriods EndedDecember31, 2020 2019Financial Information (in millions): Medicare $ ? $ ?Non-Medicare 17.4 19.9 Net service revenue 17.4 19.9Other operating income 0.1 ?Cost of service 13.2 14.7 Gross margin 4.3 5.2Other operating expenses 3.0 3.0 Operating income $ 1.3 $ 2.2 Key Statistical Data - Total (1): Billable hours 662,163 802,225Clients served 10,057 12,300Shifts 281,445 359,255Revenue per hour $ 26.24 $ 24.88Revenue per shift $ 61.74 $ 55.56Hours per shift 2.4 2.2

FortheYearsEnded December31, 2020 2019Financial Information (in millions): Medicare $ ? $ ?Non-Medicare 72.2 82.0 Net service revenue 72.2 82.0Other operating income 1.1 ?Cost of service 54.9 61.1 Gross margin 18.4 20.9Other operating expenses 12.6 12.5 Operating income $ 5.8 $ 8.4 Key Statistical Data - Total (1): Billable hours 2,730,121 3,308,338Clients served 15,019 17,364Shifts 1,177,586 1,488,175Revenue per hour $ 26.45 $ 24.80Revenue per shift $ 61.31 $ 55.13Hours per shift 2.3 2.2

(1)Total includes acquisitions.

Segment Information - Corporate

FortheThree-MonthPeriods EndedDecember31, 2020 2019Financial Information (in millions): Other operating expenses $ 44.0 $ 38.9Depreciation and amortization 7.3 4.5 Total operating expenses $ 51.3 $ 43.4 FortheYearsEnded December31, 2020 2019Financial Information (in millions): Other operating expenses $ 173.2 $ 160.9Depreciation and amortization 22.5 12.4 Total operating expenses $ 195.7 $ 173.3

AMEDISYS, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP MEASURES (Amounts in thousands) (Unaudited)

Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA) Reconciliation:

FortheThree-MonthPeriods FortheYearsEnded EndedDecember31, December31, 2020 2019 2020 2019 Net incomeattributable $ 45,151 $ 27,655 $ 183,608 $ 126,833 to Amedisys,Inc.Add: Income tax 16,460 11,398 25,635 42,503 expenseInterest 2,329 3,037 10,746 14,437 expense, netDepreciationand 8,847 5,988 28,802 18,428 amortizationCertain 5,815 4,618 26,658 24,877 items (1)Interestcomponent of (464 ) (451 ) (1,914 ) (1,789 )certainitems (1) AdjustedEBITDA (2) $ 78,138 $ 52,245 $ 273,535 $ 225,289 (7)

Adjusted Net Service Revenue Reconciliation:

FortheThree-MonthPeriods For the Years Ended EndedDecember31, December31, 2020 2019 2020 2019Net service revenue $ 550,705 $ 500,678 $ 2,071,519 $ 1,955,633Add: Certain items (1) ? 6 ? 5,999 Adjusted net service $ 550,705 $ 500,684 $ 2,071,519 $ 1,961,632revenue (3) (7)

Adjusted Other Operating Income Reconciliation:

FortheThree-MonthPeriods FortheYearsEnded EndedDecember31, December31, 2020 2019 2020 2019Other operating income $ 6,780 $ ? $ 34,372 $ ?Add: Certain items (1) (6,780 ) ? (34,372 ) ? Adjusted other operating $ ? $ ? $ ? $ ?income (4) (7)

Adjusted Net Income Attributable to Amedisys, Inc Reconciliation:

FortheThree-MonthPeriods FortheYearsEnded EndedDecember31, December31, 2020 2019 2020 2019Net incomeattributable to $ 45,151 $ 27,655 $ 183,608 $ 126,833Amedisys, Inc.Add: Certain items (1) 4,303 3,417 19,727 18,409 Adjusted net incomeattributable to $ 49,454 $ 31,072 $ 203,335 $ 145,242Amedisys, Inc. (5)(7)

Adjusted Net Income Attributable to Amedisys, Inc. per Diluted Share Reconciliation:

FortheThree-MonthPeriods FortheYearsEnded EndedDecember31, December31, 2020 2019 2020 2019Net incomeattributable toAmedisys, Inc. common $ 1.36 $ 0.83 $ 5.52 $ 3.84stockholders perdiluted shareAdd: Certain items (1) 0.13 0.10 0.59 0.56 Adjusted net incomeattributable toAmedisys, Inc. common $ 1.49 $ 0.94 $ 6.11 $ 4.40stockholders perdiluted share (6) (7)

(1)The following details the certain items for the three-month periods and years ended December31, 2020 and 2019:

Certain Items:

FortheThree-MonthPeriod FortheYearEnded Ended December31, 2020 December31, 2020 (Income) Expense (Income) Expense Certain Items Impacting Other Operating Income:CARES Act& State COVID-19 grants (6,780 ) (34,372 )Certain Items Impacting Cost of Service: COVID-19 costs 6,568 33,967 Severance - reductions in staffing levels ? 4,633 Certain Items Impacting Operating Expenses: Acquisition and integration costs 1,234 10,795 COVID-19 costs 177 1,562 Severance - reductions in staffing levels ? 271 Asset impairment 4,152 4,152 CertainItemsImpactingTotalOtherIncome (Expense):Interest component of certain items 464 1,914 Other (income) expense, net ? 3,736 Total $ 5,815 $ 26,658 Net of tax $ 4,303 $ 19,727 Diluted EPS $ 0.13 $ 0.59

FortheThree-MonthPeriod FortheYearEnded Ended December31, 2019 December31, 2019 (Income) Expense (Income) Expense Certain Items Impacting Net Service Revenue:Contingency accrual $ ? $ 6,541 Planned closures (8) 6 (542 )Certain Items Impacting Cost of Service: Planned closures (8) 2 1,174 CertainItemsImpactingOperatingExpenses: Planned closures (8) 2 187 Acquisition and integration costs 1,718 16,111 Legal fees - non-routine 604 977 Asset impairment 1,470 1,470 CertainItemsImpactingTotalOtherIncome (Expense):Legal settlements ? (1,437 )Interest component of certain items 451 1,789 Other (income) expense, net 365 (1,393 ) Total $ 4,618 $ 24,877 Net of tax $ 3,417 $ 18,409 Diluted EPS $ 0.10 $ 0.56

(2)Adjusted EBITDA is defined as net income attributable to Amedisys, Inc. before net interest expense, provision for income taxes and depreciation and amortization, excluding certain items as described in footnote 1. (3)Adjusted net service revenue is defined as net service revenue excluding certain items as described in footnote 1. (4)Adjusted other operating income is defined as other operating income excluding certain items as described in footnote 1. (5)Adjusted net income attributable to Amedisys, Inc. is defined as net income attributable to Amedisys, Inc. calculated in accordance with GAAP excluding certain items as described in footnote 1. (6)Adjusted net income attributable to Amedisys, Inc. common stockholders per diluted share is defined as diluted income per share calculated in accordance with GAAP excluding the earnings per share effect of certain items as described in footnote 1. (7)Adjusted EBITDA, adjusted net service revenue, adjusted other operating income, adjusted net income attributable to Amedisys, Inc. and adjusted net income attributable to Amedisys, Inc. common stockholders per diluted share should not be considered as an alternative to, or more meaningful than, income before income taxes or other measures calculated in accordance with GAAP. These calculations may not be comparable to a similarly titled measure reported by other companies, since not all companies calculate these non-GAAP financial measures in the same manner. (8)Planned closures consist of in-patient units acquired from Compassionate Care Hospice whose operations ceased in April 2019.