Slide 1: Accelerating Growth in Cardiorenal Care
Accelerating Growth in Cardiorenal Care Investor Presentation June 2026 Nuwellis, Inc. | Nasdaq NUWE | For Investor Purposes Only: Not for Product Promotion | 2026 1 Nuwellis, Inc. | Nasdaq NUWE | For Investor Purposes Only: Not for Product Promotion | 2026
Slide 2: Safe Harbor Statement
Safe Harbor Statement Financial and Statistical Data This presentation also contains estimates and other statistical data made by Forward Looking Statement independent parties and by us relating to market shares and other data This presentation contains forward‐looking statements within the meaning
Slide 3: Risk Statement
Risk Statement Investing in our securities includes a high degree risk. You should consider • We have experienced and may continue to experience product defects or issues with carefully the risk factors described in our Annual Report on Form 10-K for the quality management, which may result in lawsu
Slide 4: Strong Q4 2025 and Q1 2026 commercial momentum
Strong Q4 2025 and Q1 2026 commercial momentum Commercial Execution Clinical & Market Expansion • 26% YoY Revenue Growth in Q1 2026 • Pediatrics now represent ~50% of company revenue based on Q1 2026 results • Growth achieved across Pediatric, Critical Care, and Heart Failure segments • Critical Car
Slide 5: Nuwellis Is Transitioning Toward Scaled Commercial Growth
Nuwellis Is Transitioning Toward Scaled Commercial Growth Commercial Momentum Driven by High-Growth Clinical Categories: • Pediatrics, now ~50% of revenue, continues to accelerate across leading children’s hospitals • Critical care adoption expanding across ICU and cardiac surgery programs 5 Nuwelli
Slide 6: Aquadex: Our Solution
Our Solution Aquadex ® A clinically proven therapy for precise, predictable fluid removal1 • Low-volume ultrafiltration designed for critically ill patients • Allows controlled fluid removal when diuretics fail • Adopted in ICU, cardiac surgery, and pediatric critical care programs 1: Pinney, S et.
Slide 7: Expanding Beyond Fluid Removal Into Critical Care Monitoring
Expanding Beyond Fluid Removal Into Critical Care Monitoring Leveraging our ICU and pediatric commercial infrastructure to expand into adjacent monitoring and therapy markets CURRENT COMMERCIAL NEAR-TERM EXPANSION LONG-TERM PEDIATRIC ENGINE UPSIDE Clarity PRIME Precision fluid removal Automated urin
Slide 8: Fluid Overload Drives Mortality, Readmissions and ICU Costs
Fluid Overload Drives Mortality, Readmissions and ICU Costs Fluid Overload is a leading cause of costly hospital readmission post 30 days following cardiac surgery2 Critical Care Pediatric Heart Failure Higher ICU Mortality Increased Pediatric Mortality Key driver of hospitalizations Fluid overload
Slide 9: Why Hospitals Are Adopting Precision Fluid Management
Why Hospitals Are Adopting Precision Fluid Management Mortality Fluid overload > 5% body-weight gain is associated with significantly higher mortality across ICU cohorts.7 Acute Kidney Injury Risk (AKI) Postoperative AKI drives higher mortality and longer ICU/PICU stays.8 Readmissions In HF and CV s
Slide 10: Nuwellis' Total U.S. Platform Potential Opportunity Exceeds $4.2B Today
Nuwellis’ Total U.S. Platform Potential Opportunity Exceeds $4.2B Today Aquadex, Vivian, and Clarity collectively address an enormous market opportunity $4.2B Clinical Addressable U.S. Market Critical Care Inpatient HF Outpatient HF Pediatrics Fluid Monitoring Kidney Output $900M Market11 $1B Market
Slide 11: Pediatric Adoption of Aquadex Validates Market Need and Pathway
Pediatric Adoption of Aquadex Validates Both the Market Need and the Pathway for a Dedicated Pediatric Solution Providers are increasingly seeking out Aquadex for use with children, validating both the clinical demand and the growing commercial footprint in pediatric centers. Adopted in 47 of the to
Slide 12: Aquadex Demonstrated Improved Survival in Pediatric Setting
Aquadex Demonstrated Improved Survival in Pediatric Setting Demonstrated 87% Survival in Children with Acute Kidney Injury (AKI), Fluid Overload or Congenital Kidney Failure Following Treatment with Aquadex® ULTRA-Peds Study Highlights Ultrafiltration Therapy Registry Using Aquadex of patients survi
Slide 13: FDA Regulatory Milestone Supports Pediatric Growth Expansion
FDA Regulatory Milestone Supports Pediatric Growth Expansion Successfully completed FDA pre-submission meeting for proposed Aquadex label expansion to pediatric patients ≥5 kg Proposed expansion supported by: • 10+ years of published pediatric clinical experience • Real-world utilization at leading
Slide 14: Introducing Vivian
Introducing Vivian Developing our dedicated pediatric solution Currently in development and supported by a $3M NIH grant. • Ultra-low ECV (29–67 mL) for neonatal + small-child CRRT • Engineered for patients as small as 2.5kg with unique Hematocrit and SVO2 sensor safety features • Integrated UF, CVV
Slide 15: ClarityPRIME Systems Expands Nuwellis Into Smart Fluid Monitoring
ClarityPRIME* Systems Expands Nuwellis Into Smart Fluid Monitoring Acquisition extends our cardiorenal platform into the fast-growing fluid-monitoring market. 1. Addresses a Critical Need in 2. Enters a High-Growth, 3. Fits Directly Into Our Cardiac Surgery & Critical Underpenetrated Market Existing
Slide 16: Turning Higher Outpatient Reimbursement into Better Hospital and Economic Outcomes
Turning Higher Outpatient Reimbursement into Better Hospital and Economic Outcomes With the reassignment of CPT 0692T in early 2025 – from $413 to $1,591 per day – hospital-based outpatient programs are growth opportunity for Nuwellis. Total Financial Impact Cost Avoidance Per Patient13, 14 Proactiv
Slide 17: High-Margin Recurring Revenue Model
High-Margin Recurring Revenue Model Aquadex Console Capital Equipment Disposables Recurring Revenue One-time CapEx Single-use for purchase every treatment Price point: High-margin high-value Flexible acquisition Increasing utilization models: purchase, as adoption spreads lease or rental 17 Nuwellis
Slide 18: Nuwellis Leadership Team
Nuwellis Leadership Team Over 200 years of combined experience in clinical practice and the medical device industry, including major tenures at J&J, Boston Scientific, Medtronic, and Abbott/St. Jude Medical. John Erb Carisa Schultz Mike McCormick Ryan Marthaler David Lerner Chief Executive Officer C
Slide 19: Capitalization Overview
Capitalization Overview As of May 27, 2026 Common Equivalents Common Stock 2,942,048 Preferred Stock* 80,276 Warrants (weighted avg. exercise price: $4.57) 3,996,000 Pre-funded Warrants 558,000 Options (weighted avg. exercise price: $4.59) 61,422 Fully Diluted, including Pre-funded Warrants 7,637,74
Slide 20: Driving Revenue Growth with Improved Operating Discipline
Driving Revenue Growth with Improved Operating Discipline Commercial Focus • Prioritizing investment in pediatrics, critical care application expansion, and outpatient growth • Supporting continued commercial momentum in core markets • Pursuing select distribution partnerships and strategic growth o
Slide 21: Target 2026-2027 Milestones
Target 2026-2027 Milestones Target Date Milestone Q2 2026 Pediatric 5kg label expansion FDA pre-sub meeting completed Q3 2026 Publish ULTRA-Peds data Q3 2026 FDA 510k submission for Pediatric indication expansion to 5kg (from 20kg) Q4 2026 Announce strategic partnership/distribution agreement Q4 202
Slide 22: Thank You
Thank You 22 Nuwellis, Inc. | Nasdaq NUWE | For Investor Purposes Only: Not for Product Promotion | 2026
Slide 23: Appendix: Market Size Sources
Appendix Market Size Sources Heart Failure – Inpatient • Incidence of HF: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5494150/ • Annual HF Hospitalizations: Costanzo MR, et al. J Am Coll Cardiol. 2017 May 16;69(19):2428-2445 • Insufficient diuretic response: https://www.ahajournals.org/doi/10.1161/