Slide 1: Q4 2025 Earnings Presentation
Q4 2025 Earnings Presentation Pat J. Beyer President and Chief Executive Officer Todd W. Garner Executive Vice President and Chief Financial Officer January 28th, 2026
Slide 2: Forward-Looking Information
Forward-Looking Information This presentation may contain forward-looking statements based on certain assumptions and contingencies that involve risks and uncertainties, which could cause actual results, performance, or trends to differ materially from those expressed in the forward-looking statemen
Slide 3: CONMED Vision
CONMED Vision Empower healthcare providers worldwide to deliver exceptional outcomes for patients. Focus behind the Vision People, Products, Profitability 3
Slide 4: CONMED At a Glance
CONMED At a Glance Estimated 2026 Product Mix & AirSeal® Mid-Term Expected Revenue Growth Advanced insufflation system LSD = Low Single Digits clinically proven to improve surgical AirSeal & Direct MSD = Mid Single Digits outcomes Foot & Ankle Smoke Evac. HSD = High Single Digits (HSD to DD) DD = Do
Slide 5: Financial Performance Q4 2025
Financial Performance Q4 2025 Capital $52.6M Orthopedics International $157.4M Domestic $167.0M Single-Use WW Revenue 55%/45% 86%/14% $373.2M Domestic International Capital General Surgery $206.2M $215.8M Single-Use $320.6M Worldwide CC Revenue Growth1 CC Revenue Growth1 Worldwide CC Revenue Growth1
Slide 6: Financial Performance Full Year 2025
Financial Performance Full Year 2025 Capital $190.9M Orthopedics International $574.6M Domestic $600.1M Single-Use WW Revenue 56%/44% 86%/14% $1,374.7M International Capital General Surgery Domestic $800.1M $774.6M Single-Use $1,183.8M Worldwide CC Revenue Growth1 CC Revenue Growth1 Worldwide CC Rev
Slide 7: Financial Performance Consistent Execution
Financial Performance Consistent Execution Revenue (in millions) Adjusted EPS1 $1,400 $4.80 $1,375 $4.59 $1,307 $4.20 $1,200 $1,245 $4.17 $3.60 $1,000 $1,045 $1,011 $3.45 $955 $3.21 $3.00 $800 $860 $862 $796 $764 $2.64 $2.65 $2.40 $600 $2.18 $2.18 $1.80 $1.89 $1.84 $400 $1.20 $200 $0.60 $- $- 2016 2
Slide 8: Financial Performance Strong Cash Engine
Financial Performance Strong Cash Engine Improved Leverage & Durable Cash Flow: Strong FCF Conversion (%)1 • Achieved goal of lowering leverage to enhance 120% 118% financial flexibility • Announced $150M share buyback program to 100% 105% 98% 98% return cash to shareholders 96% • 86% single-use rev
Slide 9: Guidance 2026 Revenue & Adjusted EPS
Financial Guidance 2026 Revenue & Adjusted EPS Revenue $1,324M to $1,344M Organic Constant Currency ~4.5% to ~6% growth constant currency Estimated G.I. Revenue $21M to $25M $0M to $6M Estimated Foreign Currency Impact 0 to 50 BP tailwind Total Reported Revenue $1,345M to $1,375M Adjusted EPS Organi
Slide 10: Guidance 2026 Adjusted Gross Margin & Other
Financial Guidance 2026 Adjusted Gross Margin & Other Adjusted Gross Margin 2025 Adjusted Gross Margin 56.4% Estimated Incremental Tariff Impact over 2025 -1.1% to -1.0% Estimated Impact of Exiting G.I. 0.5% to 0.6% Organic Mix Improvement 0.6% to 0.8% Cost Improvements/Other 0.5% to 0.6% 56.9% to 5
Slide 11: Environmental, Social and Governance
Environmental, Social and Governance Together We Are Making A Difference for a Better Tomorrow View CONMED’s full 2024 ESG Report on CONMED.com Environmental Social Governance CONMED manufacturing operations Partners with the United Way to serve In addition to oversight by the full have recycling pr
Slide 12: CONMED Driven to Win
CONMED Driven to Win ➢Leveraging Growth Drivers Focusing on high-growth, high-margin products: AirSeal, Buffalo Filter, BioBrace ➢Optimizing Portfolio Exiting gastroenterology to align resources with minimally invasive surgery, smoke evacuation, and orthopedic soft tissue repair ➢Transforming Supply
Slide 13: Free Cash Flow (FCF) Conversion Calculation
Free Cash Flow (FCF) Conversion Calculation 2019 2020 2021 2022 2023 2024 2025 Operating Cash Flow $ 95,133 $ 64,531 $ 111,770 $ 33,365 $ 125,348 $ 166,968 $ 170,689 Less: Capital Expenditures (20,066) (13,013) (14,866) (21,785) (19,032) (13,084) (19,806) Free Cash Flow $ 75,067 $ 51,518 $ 96,904 $