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Equity Bottom-Up

American Shared Hospital Servi / Equity Bottom-Up

<ul><li>We expect the relative contributions of the leasing and direct segments could fluctuate from quarter-to-quarter as equipment upgrades are completed and as the O&O footprint expands.</li><li>Recent approval from state regulators enable AMS to move forward on planned projects in Rhode Island under its O&O model, a core objective, and AMS anticipates significant synergies within its expanding Rhode Island footprint.</li><li>In 1Q25, AMS acquired property in Bristol, RI where it expects to construct a linear accelerator facility that would likely begin treating patients in about 18-24 months.</li></ul>

We expect the relative contributions of the leasing and direct segments could fluctuate from quarter-to-quarter as equipment upgrades are completed and as the O&O footprint expands.Recent approval from state regulators enable AMS to move forward on planned projects in Rhode Island under its O&O model, a core objective, and AMS anticipates significant synergies within its expanding Rhode Island footprint.In 1Q25, AMS acquired property in Bristol, RI where it expects to construct a linear accelerator facility that would likely begin treating patients in about 18-24 months.

AMS: Growing O&O Unit Overtakes Leasing in Revenue Contribution  Q/Q Relative Contributions Could Fluctuate