Minimed Group, Inc. · NASDAQ:MMED
Minimed — Investor Presentation (September 2026)
42 slides from Minimed's investor presentation, September 2026
Slide 1: Investor Presentation September 2026
Investor Presentation September 2026 Investor contacts: Ryan Weispfenning, VP, Head of Investor Relations ryan.weispfenning@medtronic.com John Hsu, CFA, Sr. Director, Investor Relations – Strategic Finance john.hsu@medtronic.com Masen, MiniMed Flex user
Slide 2: Disclaimer
Disclaimer Forward Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties, including risks related to competitive factors, difficulties and delays inherent in th
Slide 3: Invest in better patient days with MiniMed
Invest in better patient days with MiniMed Providing full stack diabetes technology platform for large 1 and underpenetrated insulin-intensive market; 38M+ patients global TAM 2 Proven innovation engine with an established track record of delivering growth 3 A complete portfolio refresh by end of CY
Slide 4: New MiniMed is a full-stack insulin delivery company
New MiniMed is a full-stack insulin delivery company… $3.1 billion ~80 659K+ #1 FY26 net sales Countries served Total active pump users Pump satisfaction in the US (MiniMed 780G) ~80% HSD/LDD 40K+ 80% FY26 net sales of CGMs, Organic revenue growth for Prescribing HCPs MiniMed 780G users who other co
Slide 5: Breaking news: accelerating the pipeline
Breaking news: accelerating the pipeline Announced Aug. 17 Announced on Q1 Earnings Call – Sept. 1 MiniMed Flex US MiniMed Fit FDA MiniMed Flex Vivera FCL Algo MiniMed Next-Gen Launch 510(k) Submitted CE Mark Secured Trial Enrolled Extended Wear Launched with Simplera 300-unit reservoir Early custom
Slide 6: Significant growth headroom as AID becomes the standard of care
Significant growth headroom as AID becomes the standard of care Fueled by expected +10% annual total patient growth1 through 2030 2,3 Expected to grow $19B TAM double digits ~7% Global insulin pump adoption Our focus - the intensive insulin population Non-insulin Basal insulin Intensive insulin type
Slide 7: Capitalizing on innovation super-cycle to deliver for all patient cohorts
Capitalizing on innovation super-cycle to deliver for all patient cohorts only Durable pumps Used by over 1.5 million patients4 across the world ~7% of eligible patients are using a pump Patch pumps system today4 Used by over 500k patients4 across the world Opportunities for Smart MDI future AID ado
Slide 8: MiniMed 780G with SmartGuard algorithm drives consistent, sensor-agnostic performance
MiniMed 780G with SmartGuard algorithm drives consistent, sensor-agnostic performance SmartGuard Meal Detection technology detects missed doses and delivers automatic 75-78% corrections up to every five minutes Avg TIR6 MiniMed 780G insulin pump An AID system that delivers Flexible targets as low as
Slide 9: SmartGuard algorithm delivers best-in-class real-world clinical outcomes
SmartGuard algorithm delivers best-in-class real-world clinical outcomes Acrossa 34 studies totaling 635,463 users on 8 AID systems AID system 95 780G 670/770G 670G Time in Range (%) Mean Control-IQ Omnipod 5 75 CamAPS DBLG1 > 70% TIR Loop ADA recommended Not shown due guideline to lack of data 55 S
Slide 10: ~2x more users at TIR goal with MiniMed 780G vs. Omnipod 5
~2x more users at TIR goal with MiniMed 780G vs. Omnipod 5 Real world evidence from hundreds of thousands of patients 8/10 a Users with optimal settings All users 80% of users 61% of users reaching TIR target reaching TIR target Users meet ADA guidelines N= 65,788 7 N= 397,810 7 TIR target of >70% 5
Slide 11: MiniMed 780G mimics how a pancreas works to drive the highest TIR
MiniMed 780G mimics how a pancreas works to drive the highest TIR Other Gen 1 AID keeps people with diabetes (PWD) higher for longer A healthy pancreas MiniMed 780G automatically Omnipod 5 only Tandem CIQ can only deliver provides continuous insulin adjusts and correctsa every 5 minb delivers discre
Slide 12: Pipeline: Rolling thunder with waves of innovation
Pipeline: Rolling thunder with waves of innovation over the next 14 months Julia, MiniMed Go user
Slide 13: Delivering our pipeline ahead of expectations
Delivering our pipeline ahead of expectations Timelines at IPO / S-1 (Say) Updates since IPO (Do) Change MiniMed 780G with Instinct EU launch CY27 July 2026 +4Q MiniMed Go EU launch Q1 CY26 Feb 2026 MiniMed Go US launch Spring CY26 May 2026 MiniMed Flex with Simplera US launch Fall CY26 June 2026 +2
Slide 14: Gen 3 portfolio raises the bar on outcomes and user freedom
Gen 3 portfolio raises the bar on outcomes and user freedom… CGM options Insulin delivery options Unified digital experience Single User App Caregiver App Vivera Algorithm Cleared by FDA US pivotal trial started Feb.’26, Approved in EU fully enrolled Aug.’26, expect H2 CY27 launch EU TBA Simplera La
Slide 15: MiniMed Go
MiniMed Go 30M+ MDI patients Launch Update Simple self-start, integrated Smart EU launched Feb ‘26 MDI system US launched June ‘26 • Single app, real-time integration with CGM • Automatic measuring, tracking, and dosing • Takes the guesswork out of MDI therapy • Integration with Carelink for HCPs St
Slide 16: MiniMed Flex
MiniMed Flex 1.5M users on durable pumps Launch Update Slim and compact tubed pump US launch with Simplera June’26, AID system with Instinct Aug’26 • 300-unit reservoir for higher insulin needs EU launch expected • Clean and modern waterproof design Nov’26 • iOS and Android at launch with optional a
Slide 17: MiniMed Fit
MiniMed Fit * 0.5M on patch pumps Launch Update US submitted Up to seven-day wear patch pump system Aug’26, launch • 300-unit reservoir for higher insulin needs expected • Disposable, sustainable waterproof 2-piece design Summer‘27 • Internal serter is part of the consumable EU TBA • 2 reusables per
Slide 18: MiniMed Fit is highly differentiated for Type 1 and Type 2
MiniMed Fit is highly differentiated for Type 1 and Type 2… MiniMed Insulet Other Fit * Omnipod 5 future competitors12 Algorithm with class-leading TIR 300-unit reservoir Disposable, 7-days wear time Persistent Bluetooth connectivity Scaled manufacturing / economics Scaled sterilization capability P
Slide 19: Designed for high volume manufacturing, ready to scale
…and designed for high volume manufacturing, ready to scale MiniMed Fit Consumable Reusable Low-volume components contain electronics, high-volume components are entirely mechanical and simple to make Cannula and reservoir designs leverage technology to make a low-cost product and scalable Common co
Slide 20: Vivera Gen 3 algorithm is a fully closed loop for type 1 and type 2
Vivera Gen 3 algorithm is a fully closed loop for type 1 and type 2 Vivera is a “level 5” self-driving Launch Update algorithm >80% US pivotal trial fully TIR Vivera has shown higher TIR and enrolled Aug’26; simplicity than Gen 1 competitor expect H2 CY27 algorithms that all require meal launch Clin
Slide 21: Commercial Growth Strategy
Commercial Growth Strategy Jon, MiniMed 780G user
Slide 22: Experienced global commercial team with reach and depth
Experienced global commercial team with reach and depth • 3,000+ dedicated commercial professionals as of May 2025 • 1,100+ dedicated customer care staff 40k+ Prescribing HCPs ~80 • Decades of experience in emerging markets ~70% countries Direct to patient 659K 19 23 Global pump users countriesc cou
Slide 23: Established dedicated U.S. sales team and white-glove service
Established dedicated U.S. sales team and white-glove service Tech-enabled, dedicated commercial teams Commercial geographic presence >1,200 FTEs 25k+ prescribing Dedicated MiniMed HCPs (endos & PCPs) professionals across ~170 US territories Comprehensive Dual channel sales model fulfillment model I
Slide 24: Our business model is direct-to-patient for sales and fulfilment
Our business model is direct-to-patient for sales and fulfilment More than 500 direct contracts for DME & Pharmacy Long term customer relationship Unique value proposition for payors DME Unique value proposition for patients • Our products are for insulin- Collect insurance, verify dependent members
Slide 25: Customer Success Financials
Customer Success Financials Liang, MiniMed Go user
Slide 26: Q1 FY27 results
Q1 FY27 results Revenue Adjusted EBITDA1 CGM attachment rate2 New pumps sold $843M $83.1M +16.6% reported 9.9% margin 69% +100 bps Q/Q 34k -17.9% Q/Q +15.8% organic1 +500 bps Y/Y +7.7% Y/Y Product revenue mix Geographic revenue mix Pumps United States Other3,4 $144M l 17% $240M l 28% +Low-20s% Org +
Slide 27: FY26 results
FY26 results Revenue Adjusted standalone EBITDA1 CGM attachment rate2 New pumps sold $3,102M $482M +8.0% organic1 15.6% margin 66% +700 bps Y/Y 145k Unchanged Y/Y +14.2% reported Product revenue mix Geographic revenue mix Pumps United States Other3, 4 $546M l 18% $917M l 30% -LSD% Org Y/Y 4 +LSD% Or
Slide 28: Growth acceleration in Q1 FY27
Growth acceleration in Q1 FY27 Organic revenue growth1 WW International US New product introductions 15.8% 16.9% are driving both New 13.1% Pumps Sold and CGM 11.1% 11.4% attachment rate, resulting in LDD 8.6% LDD growth3 7.4% growth3 HSD 3.1% growth3 Q1 growth acceleration (0.1%) H1FY26 H2FY26 Q1FY
Slide 29: FY27 guidance
Ambar, MiniMed Champion FY27 guidance As presented on Sept. 1, 2026 Raising revenue on strong Q1 performance, reaffirming EBITDA margin Organic revenue growth Organic Revenue Implied FY27 FX³ Growth Guidance¹,² Reported Revenue Key Assumptions: Q4 FY26 ~10% ~+50 bps ~$3.42B Revenue growth Earnings C
Slide 30: Strong margin expansion and robust balance sheet
Strong margin expansion and robust balance sheet Consistent Adj Standalone EBITDA margin expansion, Net Cash $207M as of Q1 FY27 ~16% Robust Cash Position 15.6% and No Long-Term Debt As of quarter end Q1 FY27 $207M 14.0% Undrawn $500M revolver FY25 Adj. FY26 Adj. Standalone FY27 Adj. EBITDA Standalo
Slide 31: Q1 FY27 balance sheet and cash flow
Q1 FY27 balance sheet and cash flow Q1 FCF of $21M excluding separation and standup use of cash +$41M $62M Separation/Standup Use of Cash: $111M +$50M $21M -$90M +$23M +$38M Free Cash Flow1 Conveyed B/S Impact Separation / Adj. for Extended Free Cash Flow1 Capex Operating Cash Flow1 Standup Costs Ne
Slide 32: Appendix
Appendix
Slide 33: Blackstone co-development overview
Blackstone co-development overview • $324M total Blackstone funding recognized as of April 25, 2025 (fully funded) Funding Provided • Includes $212M of funding for MiniMed Flex and MiniMed Fit • MiniMed Flex insulin pump • MiniMed Fit patch pump Products Covered • MiniMed Duo infusion set with CGM/t
Slide 34: Historical revenue by geography and product category and key business metrics
Historical revenue by geography and product category and key business metrics (in millions) FY25 - Q1 FY25 - Q2 FY25 - Q3 FY25 - Q4 FY25 FY26 - Q1 FY26 - Q2 FY26 - Q3 FY26 - Q4 FY26 FY27 - Q1 Revenue U.S. $211 $227 $231 $234 $903 $212 $224 $242 $238 $917 $240 International $412 $455 $456 $489 $1,812
Slide 35: Non-GAAP to GAAP Reconciliations
Non-GAAP to GAAP Reconciliations
Slide 36: Non-GAAP Financial Measures
Non-GAAP Financial Measures Non-GAAP Financial Measures The following slides include reconciliations to the most directly comparable GAAP measure for the non-GAAP measures included in this presentation. For “Adjusted Standalone EBITDA” for each of Q1 FY’26, full FY’26 and FY’25, certain historical c
Slide 37: Organic revenue: GAAP to non-GAAP reconciliations
Organic revenue: GAAP to non-GAAP reconciliations Organic Revenue Growth 1Q FY26 (ending July 31, 2026) and 1Q FY27 (ending July 25, 2025) Q1 FY27 Earnings 39
Slide 38: Organic revenue: GAAP to non-GAAP reconciliations
Organic revenue: GAAP to non-GAAP reconciliations Organic Revenue Growth FY26 (ending April 24, 2026) Q1 FY27 Earnings 40
Slide 39: EBITDA: GAAP to non-GAAP reconciliations
EBITDA: GAAP to non-GAAP reconciliations Net Income to Adj. Standalone EBITDA Q1 FY26 Net Income to Adj. EBITDA Q1 FY27 (1) Charges primarily relate to the Diabetes Pump Retainer Ring litigation and accruals associated with other legal proceedings, including matters resolved during the period. (2) A
Slide 40: EBITDA: GAAP to non-GAAP reconciliations
EBITDA: GAAP to non-GAAP reconciliations Net Income to Adj. Standalone EBITDA FY25 and FY26 (1) Charges primarily relate to the Diabetes Pump Retainer Ring litigation and accruals associated with other legal proceedings, including matters resolved during the period. (2) All periods presented include
Slide 41: Cash flow: GAAP to non-GAAP reconciliations
Cash flow: GAAP to non-GAAP reconciliations Q1 FY27 Net Cash Used in Operating Activities to Free Cash Flow, Free Cash Flow (ex-transition uses of cash) and Operating Cash Flow (ex-transition uses of cash) Free Cash Flow (in millions, except where noted) Q1 FY27 Net Cash Used in Operating Activities
Slide 42: Endnotes and Citations
Endnotes and Citations 1. Diabetes organic revenue growth reported by Medtronic. 2. Seagrove partners’ SeaTRAKMonitor Q3 2025 data (estimating the compound annual growth rate of the market for our products from 2025 to 2030). 3. MED estimates <$1B of total $19B revenue from patients outside of inten
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