Slide 1: Third Quarter 2025 Earnings Conference Call
Integer Holdings Corporation Third Quarter 2025 Earnings Conference Call October 23, 2025
Slide 2: Earnings Call Details and Management Attendees
Integer Holdings Corporation Third Quarter 2025 Earnings Conference Call 9 a.m. Eastern Time, October 23, 2025 Management Attendees: Joe Dziedzic • A webcast of today’s call can be President, accessed in the “Investor Relations” Chief Executive Officer section of the Company’s website: investor.inte
Slide 3: Presentation of Financial Information & Forward-Looking Statements
Presentation of Financial Information & Forward-Looking Statements Important Information This presentation contains summarized information concerning Integer Holdings Corporation (the “Company”) and its business, operations, financial performance and trends. The historical financial and operating da
Slide 4: Agenda
Agenda • Opening Remarks • Financial Results • 2025 Outlook • Preliminary 2026 and 2027 Outlooks • Wrap-up • Q&A ITGR: 3Q25 Earnings Conference Call | October 23, 2025 | Page 4
Slide 5: Opening Remarks
Opening Remarks
Slide 6: Summary
Summary Strong quarter, in line 3Q25 financial results in line with expectations with expectations • Sales up 8% compared to 3Q24 … organic sales up 7% • Adjusted operating income up 14% vs 3Q24 Expect 2025 sales • Adjusted EPS of $1.79 vs $1.43 in 3Q24 … up 25% growth of 7% to 8% Updating 2025 sale
Slide 7: Financial Results
Financial Results
Slide 8: 3Q25 Financial Results
3Q25 Financial Results ($ in millions, except per share amounts) Sales Adj. EBITDA Adj. Operating Income Adj. Net Income % Change 8% 11% 14% 27% $468 $431 $106 $96 $86 $76 $63 $50 3Q24 3Q25 3Q24 3Q25 3Q24 3Q25 3Q24 3Q25 Adjusted EPS Organic Sales Change: 7% $1.43 $1.79 Note: Organic Sales Change, Ad
Slide 9: Cardio & Vascular
(1) % of Sales Cardio & Vascular ($ in millions) 59% Offering a full-range of products and services for catheter-based interventional vascular devices and a suite of supply chain solutions to support the development and manufacturing of complex components, sub-assemblies and finished devices Quarter
Slide 10: CRM & Neuromodulation
(1) % of Sales CRM & Neuromodulation ($ in millions) 37% Providing technology solutions for the active implantable medical device industry by partnering with customers to bring high-quality products to established and emerging markets – from initial concept through high-volume manufacturing Quarterl
Slide 11: 3Q25 Adjusted Net Income
3Q25 Adjusted Net Income ($ in millions, except per share amounts) Note: Adjusted Net Income, Adjusted EPS and Adjusted Weighted Average Shares are non-GAAP ITGR: 3Q25 Earnings Conference Call | October 23, 2025 | Page 11 financial measures; refer to “Non-GAAP Financial Measures” in the Appendix
Slide 12: Cash Flow & Leverage Ratio
Cash Flow & Leverage Ratio ($ in millions) Cash Flow From Ops Free Cash Flow $72 $63 $66 $46 $44 $46 $44 $31 $25 $6 3Q24 4Q24 1Q25 2Q25 3Q25 3Q24 4Q24 1Q25 2Q25 3Q25 Net Total Debt Leverage $1,230 $1,204 $1,158 $1,055 $954 3.3x 3.2x 3.0x 3.0x 2.6x 3Q24 4Q24 1Q25 2Q25 3Q25 3Q24 4Q24 1Q25 2Q25 3Q25 Ch
Slide 13: 2025 Outlook
2025 Outlook
Slide 14: 2025 Financial Outlook
2025 Financial Outlook ($ in millions) +85bps Adj Operating Income 17.4% Sales Outlook % of sales • 2025 sales up 7% to 8% 16.6% ‒ C&V up mid-teens 7% to 8% ‒ CRM&N up low single-digit 5% to 6% $1,840 - $1,854 • 4Q25 sales $458 - $472 million ‒ Reported: up 2% to 5% 2% $1,717 ‒ Organic: down 1% to u
Slide 15: 2025 Full Year Outlook
2025 Full Year Outlook ($ in millions, except per share amounts) Sales Adj. EBITDA Adj. Operating Income Adj. Net Income % Change 7% - 8% 10% - 12% 12% - 14% 21% - 24% $1,840 - $1,854 $398 - $404 $1,717 $361 $319 - $325 $285 $222 - $227 $184 2024 2024 2025 2025 2024 2024 2025 2025 2024 2024 2025 202
Slide 16: 2025 Cash Flow Outlook
2025 Cash Flow Outlook ($ in millions) Cash Flow From Ops Free Cash Flow Net Total Debt Leverage CAPEX Target: 2.5x - 3.5x $120 $230 - $240 $105 $95 - $105 $205 $1,098 - $1,108 $130 - $140 $180 $950 $954 $100 3.1x $60 2.7x - 2.8x 2.6x 2023 2023 2024 2024 2025 2023 2023 2024 2025 2023 YE23 2024 YE24
Slide 17: Preliminary 2026 and 2027 Outlooks
Preliminary 2026 and 2027 Outlooks
Slide 18: Preliminary 2026 and 2027 Outlooks
Preliminary 2026 and 2027 Outlooks ($ in millions) 2026 Outlook • Reported sales down 2% to up 2% versus 2025 Market • Organic sales flat to up low single-digit +200bps ‒ Down low single-digit in 1H ‒ Recover to market growth during 2H $1,840 - $1,854 4% to 7% (2)% to 2% • Adj. operating income down
Slide 19: Growth Starts with Product Development
Growth Starts with Product Development Product development sales Strategy delivering mix shift to up ~300% since strategy launch high-growth markets Mature ~50% ~20% ~20% ~20% Emerging / ~50% ~80% ~80% ~80% Growth 2017 2021 2024 2025 2017 2021 2024 2025 Outlook Outlook Development Sales Development
Slide 20: Integer Investment Thesis
Integer Investment Thesis Strategy Financial Objectives •1 Sales growth 200 basis points above market •2 Operating profit 2x sales growth rate •3 Debt leverage 2.5x – 3.5x Resilient Compelling Performance Financial Business Model Strategy for Growth Culture Strength Sustainable mid-single-digit
Slide 21: Wrap-up
Wrap-up
Slide 22: Wrap-up
Wrap-up 3Q25 financial results in line with expectations • Sales up 8% compared to 3Q24 … organic sales up 7% • Adjusted operating income up 14% vs 3Q24 • Adjusted EPS of $1.79 vs $1.43 in 3Q24 … up 25% Updating 2025 sales and profit outlook • Sales $1,840 to $1,854 million, up 7% to 8% vs 2024 • Ad
Slide 23: Questions?
Questions? Questions?
Slide 24: Appendix
Appendix
Slide 25: Sales Outlook Update
Sales Outlook Update ($ in millions) Current Outlook Prior Outlook Key Drivers (10/23/25) (7/24/25) Lower than expected demand primarily from select Integer 2025 $1,840 to $1,854 $1,850 to $1,876 emerging customers with PMA products Impact of Portable Medical exit completed in 2025 and 2026 Down 2%
Slide 26: 2025 Outlook
2025 Outlook(a) ($ in millions, except per share amounts) GAAP Non-GAAP(b) Change from Change from As Reported Prior Year Adjusted Prior Year Sales $1,840 to $1,854 7% to 8% N/A N/A Operating income $220 to $226 6% to 9% $319 to $325 12% to 14% EBITDA N/A N/A $398 to $404 10% to 12% Income from cont
Slide 27: 2025 Supplemental Financial Information
2025 Supplemental Financial Information ($ in millions) 2025 2024 Outlook Actual Depreciation and amortization of intangible assets $122 to $126 $107 Adjusted total interest expense(a) $41 to $42 $56 Stock-based compensation $21 to $23 $24 Restructuring, acquisition and other charges(b) $33 to $37 $
Slide 28: Historical Financial Results
Historical Financial Results ($ in millions, except per share amounts) (1) Sales Adjusted EPS $476 $468 $449 $18 $428 $431 $437 $21 $24 $405 $408 $25 $18 $390 $397 $28 $29 $29 $365 $27 $23 $172 $169 $28 $171 $160 $165 $168 $160 $153 $157 $154 $146 $1.79 $1.55 $1.41 $1.43 $1.43 $1.29 $1.30 $1.31 $287
Slide 29: Capitalization
Capitalization ($ in millions) 09/26/25 09/26/25 As Reported Rate Cash & Cash Equivalents $59 USD Denominated Revolver [Due 2028] - SOFR + 125 EUR Denominated Revolver [Due 2028] - EURIBOR + 125 TLA [Due 2028] $101 SOFR + 125 Convertible Bonds [Due 2028] $116 2.125% fixed Convertible Bonds [Due 2030
Slide 30: New Revenue Generation Cycle Times
New Revenue Generation Cycle Times Time to Manufacturing Ramp Existing Product Transfers Process Reg Begin Dev 0 – 6 Manufacturing 1 – 2+ 1 – 2 years months Ramp Years New 510k Products (Class II) Developed w/ Customers Clinical / Market Begin Product Development Regulatory Intro. Manufacturing 3 –
Slide 31: Product Line Review
Product Line Review
Slide 32: Year-over-Year Sales Trend, Trailing 4 Quarters
Year-over-Year Sales Trend, Trailing 4 Quarters (1) Integer Cardio & Vascular % of Sales 59% 17% 18% 15% 14% 14% 3Q24 4Q24 1Q25 2Q25 3Q25 11% 10% 9% 10% 10% (1) CRM & Neuromodulation % of Sales 37% 38% 7% 8% 6% 5% 4% 3Q24 4Q24 1Q25 2Q25 3Q25 3Q24 4Q24 1Q25 2Q25 3Q25 Delivering on sales growth object
Slide 33: Other Markets
(1) % of Sales Other Markets ($ in millions) 4% Includes products from the divested AS&O product line, the Portable Medical market exit, and other products not included in Cardio & Vascular, and CRM & Neuromodulation Quarterly Sales $25 $24 $21 $18 $18 • 3Q25 sales decreased 16% year-over-year drive
Slide 34: Non-GAAP Financial Measures
Non-GAAP Financial Measures
Slide 35: Non-GAAP Financial Measures
Non-GAAP Financial Measures This presentation may contain the non-GAAP financial measures defined in the table below. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in the financial schedules accompanying the earnings releas
Slide 36: Non-GAAP Reconciliation
Non-GAAP Reconciliation 3Q25 Net Income and Diluted EPS Reconciliation – Detailed View ($ in thousands, except per share amounts) 2025 2024 GAAP Non-GAAP Non-GAAP As Reported, Recast for Restructuring and Continuing Amortization of restructuring- Acquisition and Other general Debt / Investment Opera
Slide 37: Non-GAAP Reconciliation
Non-GAAP Reconciliation YTD Net Income and Diluted EPS Reconciliation – Detailed View ($ in thousands, except per share amounts) 2025 2024 GAAP Non-GAAP Non-GAAP As Reported, Recast for Restructuring and Continuing Amortization of restructuring- Acquisition and Other general Debt / Investment Operat
Slide 38: Contact Information
Contact Information Kristen Stewart, CFA Director, Investor Relations kristen.stewart@integer.net (M) 551.337.3973 www.integer.net