FINANCIAL STATEMENT

Team Health Holdings, Inc. Balance Sheet December 31, 2014 (In thousands) ASSETS Current Assets: Cash and cash equivalents $20,094 Accounts receivable, net 500,633 Prepaid expenses and other assets 46,469 Receivables under insured programs 23,623 Income tax receivable 8,935 Total Current Assets 599,754 Property and equipment 62,117 Insurance subsidiaries’ and other investments 112,946 Other intangibles, net 341,194 Goodwill 724,979 Deferred income taxes 21,113 Receivables under insured programs 50,625 Other 61,994 $1,974,722 LIABILITIES AND STOCKHOLDER’S EQUITY Current Liabilities: Accounts payable $40,616 Accrued compensation and physician payables 283,033 Other accrued liabilities 153,137 Income tax payable – Current maturities of long-term debt 227,750 Deferred income taxes 38,272 Total Current Liabilities 742,808 Long-term debt, less current maturities 577,500 Other non-current liabilities 231,778 Common Stock 713 Additional Paid-In-Capital 696,996 Accumulated deficit (278,855) Noncontrolling interest 2,087 Accumulated other comprehensive earnings 1,695 $1,974,722 Team Health Holdings, Inc. Statement of Comprehensive Earnings Year Ended December 31, 2014 (In thousands) REVENUE Net Revenue before provision for uncollectibles $4,800,883 Provision for uncollectibles (1,981,240) Net revenues 2,819,643 COSTS OF SERVICES RENDERED Professional service expenses 2,179,837 Professional liability expenses 97,609 Gross profit 542,197 General and administrative 281,054 Other (income) expenses, net (4,588) Depreciation 20,886 Amortization 55,647 Interest expense, net 15,050 Loss on refinancing of debt 3,648 Transaction Costs 7,179 Income before income taxes 163,321 Provision for income taxes 65,232 Net earnings 98,089 Net earnings attributable to noncontrolling interest 351 Net earnings attributable to Team Health Holdiings, Inc. $97,738 Shareholders’ EQUITY Beginning of Year $268,481 End of Year $422,636 OWNERSHIP Public Equity 100.0{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c} Details concerning this advertisement, together with the other reports, statements, and schedules required to be filed with the West Virginia Health Care Cost Review Authority, are available for public inspection and copying at the Authority’s Office, 100 Dee Drive, Suite 201, Charleston, WV 25311. 5-4-MON-1-RH; LG 2897