Tel Aviv / Zurich, 25 September 2020 -SHL Telemedicine Ltd. (SIX Swiss Exchange: SHLTN) ("SHL"), a leading provider and developer of advanced personal telemedicine solutions, announced today the results of the first half-year 2020.

The first half of 2020 was marked by the disruptive acceleration in the adaption of telemedicine, with the outbreak of the global COVID-19 pandemic serving as a catalyst. The Company, as a leading provider and developer with vast experience in the field of telemedicine, is well positioned to leverage its assets and know-how and benefit from this change.

Although the pandemic, being a rolling event, impacts our financial results, with decline in revenues and increased costs, the Company is building a valuable pipeline of customers and potential deals which is expected to materialize into significant business in the mid-term.

Financial Highlights:

• In Germany, revenues for the period were USD 8.1m, down by 11% compared to the first half of 2019 in constant currency[1], as a result of longer decision making cycles of institutional customers, delays in launch of new programs and slower recruitment of patients to Chronic Disease Telehealth Programs, along with a decline in service utilization by one of the institutional payors with whom the engagement will end this year.
• In Israel, revenues were USD 11.0m, slightly up by 3% compared to the first half of 2019, in constant currency. The Israeli operation continued to contribute profitability to the Group.
• Operating results for the first half year were affected by the COVID-19 global pandemic causing decreased operational efficiency and increased costs.

Key figureshalf-year 2020:

• Revenues for the period were USD 19.5m, compared to USD 19.9m in constant currency (USD 19.8m as reported) in 1HY2019.
• EBITDA for the period was USD 2.8m compared to an EBITDA of USD 6.0m in constant currency in 1HY2019 (whichincluded performance-based revenues of USD 2.0m generated from cost savings delivered under a Chronic Disease Telehealth contract in Germany relating to the years 2015 and 2017).
• Net income for the period was USD 0.1m compared to a net income of USD 3.9 in constant currency in 1HY2019 (which includedtheperformance-based revenuesofUSD 2.0m).
• Operational free cash flow of USD 1.4m.
• Cash reserves as of June 30, 2020 were USD 9.0m(includingshort term investmentsof USD 3.9m).

*Constant currency

**Performance-based income of USD 2.0m generated from cost savings delivered under a Chronic Disease Telehealth contract in Germany relating to the years 2015 and 2017

The half-year report 2020 is available on:

www.shl-telemedicine.com/about-us/investorrelations/financial-reports-pres-2020

Financial calendar

For further information, please contact:

Martin Meier-Pfister, IRF, phone: +41 43 244 81 40, shl@irf-reputation.ch

[1] Constant Currency - to enable meaningful comparison between 1HY2020 and 1HY2019 results, 1HY2019 results are also presented at 1HY2020 constant currency exchange rates. Management believes that this presentation enables a more meaningful comparison between the periods due to the significant fluctuations in NIS/USD/EUR exchange rates during the period.