Lemaitre Vascular, Inc. · NASDAQ:LMAT
Lemaitre Vascular — Investor Presentation (August 2026)
23 slides from Lemaitre Vascular's investor presentation, August 2026
Slide 1: LMAT Investor Presentation
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Slide 2: Disclaimers
Disclaimers Unaudited Financial Results The quarterly financial results in this document are unaudited. Forward-Looking Statements This document contains certain forward-looking statements, within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, that involve risks and uncert
Slide 3: Overview of LeMaitre
Overview of LeMaitre Portfolio of Medical Devices Used Primarily by Vascular Surgeons Large and Growing Global Sales Force #1 or #2 Share Positions in Niche Markets Track Record of Accretive Acquisitions; $376mm Cash On Hand Attractive Op. Margin, Cash Generation, and Dividend Growth
Slide 4: Core Competencies
Core Competencies Strong Customer Relationships >50% Biologic Implants • 163 sales reps • Broad patch & graft offering • 5,300 hospital accounts • Tissue processing expertise • 12K vascular surgeon users • Niche markets Executive Team Retention Capital Efficiency • Top 4 Executives: 23 years • Prude
Slide 5: Growing Global Sales of Devices Used by Vascular Surgeons
Growing Global Sales of Devices Used by Vascular Surgeon Sales 2026Q2 Sales by Region $300 APAC Americas 7% 62% $275 5-Yr. CAGR (2021-26): 12% $250 $225 $200 EMEA $175 31% Millions $150 $125 2026Q2 Sales by Physician User† $100 Other 7% $75 Vascular Surgeon $50 Cardiac 80% Surgeon $25 13% $0 >50% of
Slide 6: Diversified Product Offering: Single-Use Devices & Implants
Diversified Product Offering: Single-Use Devices & Implants Largest Category (20% of total sales) These 8 product categories represent 87% of total sales
Slide 7: Mix Shift to Biologics & Products Used by Cardiac Surgeons
Mix Shift to Biologics & Products Used by Cardiac Surgeon Sales by Device Type Sales by Physician User 100% 100% 80% 42% 41% 40% 39% 80% 44% 60% 60% 82% 80% 78% 80% 80% 7% 7% 7% 7% 7% 40% 40% 51% 52% 53% 54% 49% 20% 20% 8% 8% 8% 7% 9% 12% 14% 12% 13% 9% 0% 0% 2022 2023 2024 2025 2026YTD 2022 2023 20
Slide 8: #1 or #2 Share in 9 of 12 Markets
#1 or #2 Share in 9 of 12 Markets Aggregate Market Revenue: $1 Billion $300 WW Market Revenue (Millions) $250 $200 $150 Markets in Which LeMaitre Has #1 or #2 Share $100 • LeMaitre generates 84% of total company sales in these markets $50 $0
Slide 9: Sales Growth Drivers
Sales Growth Drivers Organic Inorganic Sales Force Distributor Regulatory Pricing Acquisitions Expansion Buyouts Approvals Power
Slide 10: Direct Selling in 31 Countries Represents 94% of Total Sales
Direct Selling in 31 Countries Represents 94% of Total Sales Americas: EMEA: APAC: 76 Reps 56 Reps 31 Reps 17 Managers 10 Managers 8 Managers Direct Country Sales Office
Slide 11: Growing Sales Force: 160 Reps at 12/31/2025, +5% YoY
Growing Sales Force: 160 Reps at 12/31/2025, +5% YoY 200 180 175 160 160 155 137 30 140 132 29 23 120 22 104 100 52 55 16 45 48 80 36 60 40 74 75 65 66 52 20 0 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025 12/31/2026 Americas EMEA APAC Guide - Mid
Slide 12: Pricing Power (including Pricing Floors)
Pricing Power (including Pricing Floors) Weighted Average Price Increase Price Increase Drivers 14% • Differentiated, premium products 12% • #1 or #2 share in niche markets 10% • $47K average annual spend per hospital 8% • Modest average price per unit 6% • Hospital DRG reimbursement 4% 2% 0% 2022 2
Slide 13: 25 Acquisitions Completed in Last 28 Years
25 Acquisitions Completed in Last 28 Years Win* (16) TBD (1) Loss (8) Purch. Price Purch. Price Purch. Price Year Product Year Product Year Product ($mm) ($mm) ($mm) 1998 VascuTape (manufacturing) 0.2 2025 AndraValvulotome 2.6** 2003 Expedial† 1.9 1999 TufTex 1.7 Total 2.6 2005 EndoFit†, TAArget† 4.
Slide 14: Gross Margin Results & Opportunities
Gross Margin Results & Opportunities Gross Margin Gross Margin Opportunities 75% • Average price increases 70% • Direct labor efficiency • Inventory turnover improvement initiatives 65% • Automation and other process improvements 60% • Factory consolidations (Announced Fox River Grove, IL facility t
Slide 15: Operating Income & Operating Margin
Operating Income & Operating Margin Operating Income Operating Margin† $90 30% 5-Yr. CAGR (2021-26): 16% $80 $70 25% $60 Millions $50 20% $40 $30 15% $20 $10 $0 10% 2022 2023 2024 2025 2026* 2022† 2023 2024 2025 2026† *Midpoint of Operating Income guidance range provided 8/4/26 2025 is adjusted to e
Slide 16: Capital Allocation, Cash Balance & Adjusted EBITDA
Capital Allocation, Cash Balance & Adjusted EBITDA Selected Uses of Cash Cash and Debt Balances $400 $30 $350 Cash & Investments $300 Convertible Note $25 $250 Millions $200 $20 $150 $100 Millions $50 $15 $0 12/31/22 12/31/23 12/31/24 12/31/25 6/30/26 $10 Adjusted EBITDA $90 $5 $80 $70 $0 $60 Millio
Slide 17: EPS & Dividend
EPS & Dividend Fully Diluted EPS Dividend per Share $3.50 $2.00 $1.80 • Increased 15 straight years $3.00 • Last increase (Q1 2026): 25% $1.60 • 10-Yr. CAGR (2015-25): 17% $2.50 $1.40 • LMAT is part of the NASDAQ $1.20 US Broad Dividend Achievers $2.00 Index $1.00 $1.50 $0.80 $1.00 $0.60 $0.40 $0.50
Slide 18: Key Recent Developments
Key Recent Developments • Grew WW Artegraft sales 34% Sales • Conducted first RestoreFlow Allograft cardiac and vascular cases in Germany • Grew WW RestoreFlow Allograft sales 17% • Processed first RestoreFlow Allograft for commercial distribution in Burlington Operations • Opened new ~34,000 square
Slide 19: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations
Slide 20: GAAP to Non-GAAP EBITDA Reconciliation
GAAP to Non-GAAP EBITDA Reconciliation Reconciliation between GAAP and Non-GAAP EBITDA 2022 2023 2024 2025 LTM Net income as reported $ 20,636 $ 30,105 $ 44,038 $ 57,734 $ 65,673 Employee retention tax credit, net 0 0 0 (3,380) $ (3,380) Net Interest Expense/(Income) (986) (3,077) (4,744) (7,910) $
Slide 21: Adjustments: Operating Income and EPS
2022 St. Etienne Factory Closure Adjustments: Operating Income and EPS
Slide 22: 2025 FY Reconciliation of Reported and Adjusted Metrics
2025 FY Reconciliation of Reported and Adjusted Metrics LEMAITRE VASCULAR, INC. (NASDAQ: LMAT) RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES FULL YEAR GUIDANCE (amounts in thousands, except per share amounts) (unaudited) For the tw elve m onths ended Full Year Guidance Full Year ERTC Adjuste
Slide 23: LMAT Investor Presentation
® Lemaitre’ LMAT Investor: N= Expect Reliability ake it LeMaitre® a
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