InnovAge Scorecard | January 2020 

| Overall Performance Review

Media-Driven Quali ed & Contact Leads

YTD Media-Driven Leads % of Total YTD Quali ed Leads

Qualified Leads Driven by Media Media-Driven Leads Impressions

2,173 87%
2,843 800 60M

FY19 Comparison: 1,169 FY19 Comparison: 56%

Media-Driven Leads
600

Impressions
During January, all quali ed leads on the InnovAge site had previously been exposed 40M
to the paid media campaign. The number of media-driven leads increased by nearly 400
2x month-over-month. January was the strongest month of FY20 thus far.
20M
- The continued increase in performance can be attributed to: 200
    - The new display banner creative (Tina, Jim, Arthur, Caregiver, Veteran) and high
      impact display ramping up after 2.5 months of being in market. 0 0
    - Many targeting and inventory optimizations made to the display campaign (more Jul 2019 Sep 2019 Nov 2019 Jan 2020
      details included on the display page). Aug 2019 Oct 2019 Dec 2019
    - The paid search campaign's consistently increasing conversion rate (due to a
       shift in strategy to prioritize conversions when bidding). Paid Media's Share of Total On-Site Leads
    - A historical peak in performance in January, presumably after adult children have
      spent time with their loved ones.
- 467 media-exposed users submitted quali ed leads in January, representing a 6.99% QT Media-Driven Qualified Leads Organic Qualified Leads
conversion rate, a 15% increase month-over-month. 163 users submitted Contact Us 600

Media-Driven Qualified Leads

forms, which is 3x more submissions than seen in December. 
- As usual, Colorado contributed the most quali ed leads (191) and garnered the
strongest conversion rate (10.24%). Charlottesville experienced the most dramatic 400
conversion rate increase, which is mainly attributed to the paid search campaign seeing
a strong month after garnering low performance in December. Further notes about
Charlottesville's performance increase can be found on the paid search page. 200

Moving forward: Continue gathering learnings and optimizations for all new creative
that is now in market (new creative includes native, display banners, high impact display 0
and responsive search ads). Continue making targeting and inventory optimizations. Jul 2019 Aug 2019 Sep 2019 Oct 2019 Nov 2019 Dec 2019 Jan 2020
Implement paid search extensions once approved (KH sent recommendations 2/13).

January 2020:

Market ▲
Impressions Site Landers Qualifier Tool Landers Assessments Submitted Qualified Leads QT CRV
a. California 13827535 14607 1614 800 82 5.08%    

b. Philly 8993027 8046 1567 631 83 5.3%    

c. Colorado 8137653 7370 1866 1266 191 10.24%    

d. Rich/Pen 3607883 2920 878 477 69 7.86%    

e. C-Ville 3370791 2218 311 129 17 5.47%    

f. Roanoke 3275548 2403 446 198 25 5.61%    

g. Grand Total 41212437 37564 6682 3501 467 6.99%    

 InnovAge Scorecard | January 2020 | Display Campaign Performance

Display-Driven Quali ed & Contact Leads

YTD Quali ed Leads YTD Contact Leads YTD Landing Rate Display-Driven Leads Display Impressions

386 30 0.09% 150 30M

Display-Driven Leads
FY19 Comparison: 257 FY19 Comparison: 40 Goal: 0.06%

Display Impressions
100 20M
January's display campaign was extremely strong: while the landing rate decreased
by one percentage point MoM (f rom 0.09% in December to 0.08% in January), the
users we reached were far more engaged with enrollment oriented actions on the
50 10M
InnovAge site. The number of leads increased by 124% MoM, f rom 54 in December to
121 in January. All creative categories performed above the landing rate goal and
contributed quali ed leads. 0 0
Jul 2019 Sep 2019 Nov 2019 Jan 2020
- The display campaign contributed 111 quali ed leads in January, a 2x increase from 50 Aug 2019 Oct 2019 Dec 2019
in December. Optimizations that led to this strong increase include:
   - Quali er Tool Retargeting is performing extremely well in terms of landing rate and Year-over-Year Landing Rate
      lead submissions, so we have increased bids and daily delivery on these lines
   - Removed domains that were generating little to no engagements (including
     Outlook, Yahoo, CBS Sports and Buzzfeed) Landing Rate Landing Rate (Aug 1, 2018 - Jan 31, 2019)
   - Prioritized domains that index highly with the converting audience, primarily local
     news, sports and lifestyle domains (including CBS 19, NBC 12 and PhilliesNation) 0.1%
- This month, all creative categories contributed quali ed leads -- 56 Dual Eligible, 11
Veterans, 9 Self Pay, 28 QT Retargeting, 7 High Impact Display. The highest quali ed
conversion rate was achieved by QT Retargeting (4.75%), followed by Dual Eligible
(0.58%), Veterans (0.48%) and Self Pay (0.47%). We expect the Veterans and Self Pay 0.05%
conversion rates to continue increasing over time as we learn more about their
audience behaviors.
- High Impact Display landing rates are extremely high at 0.17%.
0%
Moving forward: Continue adjusting delivery and inventory strategies as needed in Aug 2019 Sep 2019 Oct 2019 Nov 2019 Dec 2019 Jan 2020
order to maximize performance in all markets.

January 2020:

Market ▲
Impressions Site Landers Qualifier Tool Landers Assessments Submitted Qualified Leads Qualified CVR Landing Rate
a. California 6703653 5584 213 77 13 0.23% 0.08%    

b. Philly 5653907 5057 485 105 25 0.49% 0.09%    

c. Colorado 5139122 4027 352 183 45 1.12% 0.08%    

d. Rich/Pen 2669336 2306 82 61 13 0.56% 0.09%    

e. C-Ville 2319637 1796 80 39 8 0.45% 0.08%    

f. Roanoke 2511595 1989 148 42 7 0.35% 0.08%    

g. Grand Total 24997250 20759 1360 507 111 0.53% 0.08%    

0% 0.05%
 InnovAge Scorecard | January 2020 | Paid Search Campaign Performance

Search-Driven Quali ed & Contact Leads

YTD Quali ed Leads YTD CTR YTD Quali ed CVR

1,419 5.22% 3.82% 600

Search-Driven Leads Search Impressions
150K
FY19 Comparison: 491 Benchmark: 3.3% Goal: 2%

Search-Driven Leads

Search Impressions
The paid search campaign saw CTR and conversion-based increases MoM,
garnering its highest performance of the year thus far. Its CTR of 5.64% was 2% 400 100K
higher than December's and its Quali ed Conversion Rate of 4.83% was a 21%
increase f rom December. The number of Contact leads increased by 3x MoM.
200 50K
- We're continuing to see the number of search-driven conversions increase MoM as a
result of bidding optimizations made in the summer. We saw a particularly strong
increase in January with 459 search-driven leads, up 75% from December. Both
0 0
Quali ed and Contact Leads continue to increase due to this optimization. Jul 2019 Sep 2019 Nov 2019 Jan 2020
- Paid search has maintained a strong overall CTR of 5.22% (more than 1.5x higher Aug 2019 Oct 2019 Dec 2019
than the healthcare industry benchmark of 3.3%).
- Colorado maintained the highest quali ed conversion rate with a 6.77% CVR in
CTR and Quali ed Conversion Rate
January. Colorado also drove the highest number of Quali er Tool Leads (121) and the
most Contact Leads (65). 
- All markets' quali ed conversion rates increased MoM with exception the of Qualified CVR Overall CVR (QT & Contact) CTR
California which remained at. Charlottesville saw the most dramatic increase MoM: 6% 60%
this market is back on track after struggling in December. The PACE non-branded ad

Overall CVR (QT & Contact)

group performed very well in C-Ville, contributing to its stabilization in performance.

Qualified CVR | CTR

Additionally,  20% increase in C-Ville impressions MoM could have created more user
4% 40%
interest in the marketplace.  

Moving forward:
- The KH team has prepared recommendations for Sitelink Extensions, Structured 2% 20%
Snipped Extensions and Call Extensions -- once approved by InnovAge, these will be
applied to the search campaign (KH sent recommendations 2/13).
- We will continue to work with our Google rep to further optimize and monitor 0% 0%
Jul 2019 Sep 2019 Nov 2019 Jan 2020
campaigns in all markets.
Aug 2019 Oct 2019 Dec 2019

January 2020:

Market ▲
Impressions Clicks CTR QT Landers QT Leads Contact Leads Overall CVR Qualified CVR
a. California 21881 1615 7.38% 1298 59 21 4.95% 3.65%    

b. Philly 19659 1085 5.52% 974 50 12 5.71% 4.61%    

c. Colorado 40973 1788 4.36% 1404 121 65 10.40% 6.77%    

d. Rich/Pen 16811 1091 6.49% 774 54 36 8.25% 4.95%    

e. C-Ville 9394 464 4.94% 228 9 12 4.53% 1.94%    

f. Roanoke 5401 394 7.29% 291 18 2 5.08% 4.57%    

g. Grand Total 114119 6437 5.64% 4969 311 148 7.13% 4.83%    

0% 2% 4% 6%
 InnovAge Scorecard | January 2020 | Video, Native & Paid Social Campaign Performance

VIDEO The video campaign saw strong performance in January with an Video Completion Rate
86% completion rate. Although the completion rate decreased
slightly MoM, the VCR remained well above the benchmark. 
YTD VCR VCR
- Both the overall VCR and January's VCR remained above the
81.50%
100%
industry benchmark of 72%. In January alone, video drove about
3.7K clicks, which are considered bonus since this is an awareness
Benchmark: 72%
tactic.
- The pre-quali cation value exchange video launched for CA, PA and

VCR
50%
CO in mid-January and demonstrated very strong performance off
the bat with a 97% completion rate.
YTD Completions

5.9M Moving forward: Continue optimizing the pre-roll, CTV, OTT and
value exchange campaigns (i.e. updating inventory sources and the
0%
Jul 2019 Sep 2019 Nov 2019 Jan 2020
domains we run on). Aug 2019 Oct 2019 Dec 2019

The ref reshed annual campaign has achieved a YTD landing rate of
0.12%, which is slightly below the benchmark. The Brand/DE
NATIVE messaging segment continued to perform best in January.
- In January, the native blogs drove nearly 16K landers to the site for a
YTD Landing Rate landing rate of 0.10%. Although the landing rate is below the
Blog Headlines in order of Landing Rate
1. 10 Warning Signs it May be Time to Stop Driving
2. How to Get the Support You Need When Caregiving
3. How to Avoid Falls in Your Home

0.16%
0.12%
benchmark, the native blogs contributed 44 quali ed leads.
- From Nov-Jan we tested 2 vendors against each other (StackAdapt
Benchmark: 0.15% vs. MiQ). While both vendors achieved similar landing rates, MiQ's Messaging Segments in order of Landing Rate
native campaign was driving more leads, so we have ended our
campaign with StackAdapt and will use MiQ exclusively moving
forward. 1. Brand/Dual Eligible (0.14%)
2. Self Pay (0.09%)
Moving forward: Launch new creative in Q3, continue optimizing 3. Veterans (0.09%)
campaign to increase landing rate.

Facebook's CTR continues to trend upwards. The VCR experienced a

SOCIAL decline MoM, which could be attributed to creative fatigue. The :15 Facebook Carousel CTR & Video VCR
second videos were added at the beginning of February and are
performing extremely well.
YTD CTR VCR CTR

0.59% - The refreshed static assets that launched in mid-December continue 15% 0.6%
to increase the CTR month-over-month.
Benchmark: 0.85% - January's VCR declined MoM, however the overall completion rate
10% 0.4%
remains above the benchmark. The :15 second video spots were
VCR

CTR
rotated in at the beginning of February, and VCRs have already
improved dramatically.  5% 0.2%
YTD VCR

9.1% Moving forward: Continue to optimize the video and static units as
the refreshed creative ramps up and Facebook's algorithm gathers 0% 0%
Benchmark: 9%
Jul 2019 Sep 2019 Nov 2019 Jan 2020
learnings. Note: Video Creation Kit assets went live 2/6. Aug 2019 Oct 2019 Dec 2019
 InnovAge Scorecard | January 2020 | Total Impressions

California Philly Colorado

27,256,287 21,479,722 10,508,753

-27.9% -7.7% 7.0%

Richmond/Peninsula Charlottesville Roanoke

14,179,996 3,413,707 3,312,861

1.8% 19.9% -4.0%

January 2020:

Market ▲
Digital Paid Search Paid Social Print Cable TV Radio Total
a. California 13,679,557 21,881 126,097 96,695 53,374 - 610,327 27,256,287

b. Philly 8,853,974 19,659 119,394 203,174 88,166 - 2,849,476 21,479,722

c. Colorado 8,096,680 40,973 - 162,971 1,893,815 314,314 - 10,508,753

d. Rich/Pen 3,591,072 16,811 - 152,051 263,075 539,184 1,744,864 14,179,996

e. Charlottesville 3,361,397 9,394 - 42,916 - - *- 3,413,707

f. Roanoke 3,270,147 5,401 - 37,313 - - - 3,312,861

* Chartlottesville radio impressions not available - unrated market

 InnovAge Scorecard | Glossary & Vendors
Basic Media Terms
-Impressions: The number of times an ad is served to the target
audience
-Clicks: When a user clicks your ad
-CTR (Click-Through-Rate): Efficiency of performance measured by
percentage of clicks based on number of impressions served (clicks/imps)
-Landers: The number of users who navigate to a landing page after being
served an ad and remain on the website until it loads completely. Tracked
for up to 30 days after ad exposure.
-Landing Rate: Efficiency of performance measured by percentage of
landers based on impressions served (landers/impressions)
-Video Completions: The number of times a video ad is viewed at 100%
completion
-VCR (Video Completion Rate): Efficiency of performance measured by
percentage of video completions based on number of impressions served
(completions/impressions)
Enrollment-Oriented Actions
-Qualified Leads: Number of leads submitted on the Qualifier Tool form
after being pre-qualified through the Self Assessment step
-Contact Us Leads: Number of leads submitted on the Contact Us page
-“Leads”: When the general term “leads” is used throughout the
scorecard, it refers to Qualified Leads and Contact Us Leads combined
-"Organic Leads": Refers to the number of leads submitted on the
InnovAge site from users who were not previously exposed to the paid
digital campaign
-"Total On-Site Leads": Refers to media driven + organic leads
combined, making up the grand total of leads submitted on the InnovAge
site
-CVR (Conversion Rate): Efficiency of performance measured by
percentage of lead form submissions based on either total impressions or
total site landers
-QT CVR: Conversion Rate measured particularly for Qualified Leads
Current Vendors/Tactics
-Display: Static and animated banner ads that run on desktop, mobile and tablet
    - Prospecting messaging includes Dual Eligible/Brand Messaging, Self Pay (launching in Q2),
     Veterans (launching in Q2).
    - Retargeting-specific banners are used to encourage previously engaged users to submit
     Qualifier Tool forms
    - Sequential messaging tactic refers to serving display banners to users who watched
     75-100% of the InnovAge video spot in a digital environment.  
    - High-Impact display (launching in Q2) refers to large, impactful units: Desktop “billboards”
     (i.e. large banners at the top of a desktop webpage), 2 types of full screen mobile units, and
     animated banners that take over the bottom of a webpage or image in a webpage
    - Display Vendors: GumGum (high-impact only) and MiQ
-Paid Search: Text ads served through the Google Ads platform that show up in Google search
results after a user has searched for a relevant keyword
    - RSA (Responsive Search Ads): A new type of search ad that tests all possible headline and
     description text options against each other, in order to massively open up optimization
     opportunities
    - Native: Ads that match the form and function of the sites they are being displayed on,
     essentially blending in with the site’s natural content. These typically show up in the
     “recommended articles” section of a site.
     -Starting in Q2, 100% of InnovAge Native ads will feature snippets of blog content and will
     drive users to select articles on the InnovAge blog
    - Native Vendors: Storygize in Q1, StackAdapt vs. MiQ head-to-head test in Q2, Q3-Q4 TBD
     based on Q2 performance
-Digital Video: Variety of video tactics that enable users in our target audience to see
InnovAge’s :30 spot in cross-device digital environments.
    - Pre-Roll: Videos play prior to short form video content on a variety of websites on desktop,
     mobile and tablet devices (i.e. news and entertainment sites). Vendor: Basis.
    - CTV (Connected TV): Videos play prior to and during long form, premium content on
     Connected TV devices (i.e. Roku, Firestick, Smart TVs). Vendor: Basis.
    - OTT (Over-the-top): Videos play prior to and during long form, premium content on
     connected TVs and through apps on other devices. Vendor: Basis.
    - Pre-Qualification/Value Exchange: Videos play in value exchange environments (i.e. watch
     video to unlock extra news articles or lives in games). Prior to video playing, users are
     asked a question (i.e. do you your loved one need help aging at home?). If they answer
     yes, they are served an InnovAge video ad. If they answer no, the impression goes to
     another advertiser and we do not pay for the impression. Vendor: Jun Group.
-Paid Social: Variety of ad formats that run on Facebook
    - Carousel: Interactive Facebook ads that allow users to click through multiple
     images/headlines within a singular ad
    - Video: Facebook ads featuring InnovAge’s :30 spot