Tenet Reports Year-End 2023 Financial Results

EBITDA equals the results before income taxes, depreciation of property and equipment, depreciation of right-of-use assets, amortization of intangible assets, amortization of financing issuance costs and finance costs, as defined in Note 24.4 of the Audited Consolidated Financial Statements for the years ended December 31st, 2023 and December 31st, 2022.(2) Adjusted EBITDA equals EBITDA as described above adjusted for change in fair value of contingent consideration payable, change in fair value of debenture conversion options, impairment of goodwill, impairment of intangible assets, gain on bargain purchase, loss on investment in a related company, impairment on investment in a related company and loss on legal settlement. Tenet is also a development stage company whose revenue model and clientele were still being defined in China in 2023, while the Company's data and AI-driven product offerings, which Tenet expects will ultimately come to define its revenue model, were only in early development stages by the end of 2023. Finally, Tenet used the fourth quarter of 2023 to reassess its operations in China and took steps to accelerate the transition of its Chinese operations to a predominantly data-driven, recurring revenue business model, which further limited the revenue the Company generated during the fourth quarter. Perhaps the most important operational event that took place in all of 2023 was the launch of the Company's Tenoris3 data science subsidiary's website, which provided a preview of Tenet's data and AI-driven product offerings and how the Company expects to be generating most of its revenue in the future. Full details of the Company's 2023 financial results and outlook for 2024 can be found in the Audited Consolidated Financial Statements and Management's Discussion and Analysis for the years ended December 31, 2023 and 2022, which are available under the Company's profile at www. Tenet CEO Johnson Joseph will answer questions from shareholders related to the Company's 2023 results in a Q&A interview and will also share his perspective on the Company's business plan for 2024 and beyond. Tenet Fintech Group Inc. is the parent company of a group of innovative financial technology and artificial intelligence companies.