Slide 1: Making Nerve Repair an Expected Standard of Care
Making Nerve Repair an Expected Standard of Care A commitment to restoring health, improving quality of life, and advancing peripheral nerve care for every patient. July 2026
Slide 2: Forward-looking Statements
Forward-looking Statements This presentation contains “forward-looking” statements as defined in the Private Securities Litigation Reform Act of 1995, which are statements that are not historical facts and relate to future conditions, events, or results. These statements are based on management's cu
Slide 3: Our Mission
Our Mission To restore health and improve quality of life by making restoration of peripheral nerve function an expected standard of care. 3
Slide 4: Large and Underserved $5.6B US Nerve Care Opportunity
Large and Underserved $5.6B US Nerve Care Opportunity More than 1.5 million peripheral nerve injuries a year require treatment in Axogen focus markets1,2,3,7 Oral, Maxillofacial & Extremities Market Breast Reconstruction Prostate Surgery Head & Neck $2.9B $677M $1.2B $754M Every year patients suffer
Slide 5: Common Types and Causes of Peripheral Nerve Injury
Common Types and Causes of Peripheral Nerve Injury Cut or Laceration Compression Stretching Neuroma Trauma Surgery Amputation Trauma that leads to damaged nerves Nerves that have been cut, compressed or Stump pain associated with nerve Severe Cuts, Falling Though Glass, stretched during surgery dama
Slide 6: The Axogen Nerve Repair Algorithm
The Axogen Nerve Repair Algorithm Connection Protection Termination 6
Slide 7: Avance Is the First Approved Biologic Treatment
Avance® is the First Approved Biologic Treatment for Repair of Nerve Discontinuities in adult and pediatric patients aged one month and older Native Nerve Provides structural and biochemical cues for axonal regeneration Laminin lining the endoneurial tubes has been shown in in vitro assays and anima
Slide 8: Our Key Market Development Opportunities
Our Key Market Development Opportunities Nerve Care is Not an Care guidelines and standardized treatment algorithms are Expected Standard of Care lagging and to be developed for certain care pathways Awareness of Low patient and surgeon awareness of treatment options Treatment Options Inefficient Pa
Slide 9: 2025-2028 Strategic Plan Priorities
2025-2028 Strategic Plan Priorities Growth Markets Commercial Expansion CAGR 15 - 20% Elective and planned Commercial infrastructure procedure focus and salesforce expansion Prostate market development Commercial Standard of Care Innovation Excellence Continuous business model Level 1 clinical evide
Slide 10: Uniquely Positioned to Lead in Nerve Repair
Uniquely Positioned to Lead in Nerve Repair Technology Expertise Access Avance® (acellular nerve 17 years of experience and Trusted partner to allograft-arwx) is the only FDA 275,000+ patients treated 6,500+ surgeons approved biologic nerve scaffold for treating peripheral 350+ clinical and scientif
Slide 11: Elevating Nerve IQ
Elevating Nerve IQ Education & Training are Key to Market Development 2025 ACTIVITY 75% of hand fellows trained Professional education programs across our markets 13 with more than 225 surgeons trained 1,400 Surgeons trained on Axogen’s nerve repair algorithm Faculty educational partners of leading
Slide 12: Extremities
Extremities POSITIONED TO WIN Clinical & Health Economic Value Preference for allograft Allograft supported as standard medical practice by two major Avance is approved as a biologic, backed by level 1 clinical evidence increasing for all gap societies and health economic value proposition versus au
Slide 13: Oral Maxillofacial and Head & Neck
Oral Maxillofacial and Head & Neck POSITIONED TO WIN Societal Support OMF societal support for nerve repair and included in AAOMS ParCare Guidelines can be leveraged to influence H&N societies Opportunity to build patient Grow presence in H&N Clinical Evidence and surgeon awareness of oncologic proc
Slide 14: Breast
Breast POSITIONED TO WIN Proven Patient Activation Strategy 25K+ monthly Axogen’s marketing team excels at translating complex medical website visitors information into patient-friendly content, raising awareness and 3K+ monthly visitors driving demand for Resensation® to surgeon locator Specialized
Slide 15: Prostate
Prostate POSITIONED TO WIN Nerve Repair Portfolio Axogen’s nerve repair portfolio has the potential to help surgeons address nerve protection and reconstruction needs in robotic assisted radical prostatectomy Clinical Education Leadership Extensive expertise in developing standardized surgical techn
Slide 16: Positive Avance Coverage Momentum Continues
Positive Avance coverage momentum continues as payers respond to Axogen’s educational efforts Avance Medicare & Avance Commercial Expanded coverage Medicaid Lives Covered Lives Covered fueled by Strong clinical evidence 1,2 1,2 Societal support for Standard of 86% 86% Care designation achieved Biolo
Slide 17: In 2026, CMS Improved Facility Payments
In 2026, CMS Improved Facility Payments by Creating a New Outpatient Code Group New Level 3 Nerve Procedure Code increases reimbursement for hospitals and ASC’s 2025 FACILITY PAYMENT National Average National Average Reimbursement Reimbursement Ambulatory CPT Code Descriptor C-APC Hospital Outpatien
Slide 18: Our Nerve Care Roadmap
Our Nerve Care Roadmap to Provide Improved Benefit-to-Risk Profiles versus Existing Standards of Care INNOVATION METRICS Avance Biologic License Approval 3 Active Development Projects Prostate Clinical Development 2022 2023 2024 2025 2026 2027 2028 + Easy Coaptation Axoguard Avive+ Soft New Product
Slide 19: Our Clinical Evidence Investments
Our Clinical Evidence Investments in Support of Standard of Care Objectives Completed Underway Planned Establishing the Foundation Strengthening the Evidence Advancing Standard of Care ® SM CHANGE RANGER EMBRACE Pilot Study | Avance Digital Nerve Repair Real-World Registry | Avance Peripheral Prospe
Slide 20: Management Team with a Track Record of Success
Management Team with a Track Record of Success Michael Dale Marc Began Lindsey Hartley Erick DeVinney Jens Schroeder Kemp Doris Quackenbush Ivica Ducic, M.D. Chief Executive Officer Executive Vice President Chief Financial Officer Chief Innovation Officer Chief Marketing Officer Chief Revenue Office
Slide 21: Financial Overview
Financial Overview 21
Slide 22: Accelerating Topline Drives Operational Leverage
Accelerating Topline Drives Operational Leverage Accelerating Revenue Growth Expanding EBITDA 19.1% 5-year CAGR 2021 2022 2023 2024 2025 ($ in millions) ($ in millions) $279.0* $40.0 $30.0 $27.9 $225.2 $19.8 $20.0 $187.3 $10.0 $159.0 $3.9 $138.6 $0.0 YTD Q2 ($1.1) $131.2 ($2.2) ($10.0) ($9.3) ($9.3)
Slide 23: 2026 Guidance
2026 Guidance Revenue growth of at least 24% or $279 million Gross margin of at least 73% Free cash flow positive 23
Slide 24: Investment Highlights
Investment Highlights Big Market Opportunity Clinical Leadership Multiple Growth Catalysts $5.6B TAM with minimal Unique comprehensive Four distinct market current penetration solution with strong evidence opportunities at different stages Reimbursement Tailwinds Scalable Infrastructure Financial In
Slide 25: Thank you
Thank you © 2026 Axogen Corporation. All rights reserved. The stylized "a" logo is a registered trademark of Axogen Corporation.
Slide 26: Non-GAAP Reconciliation
Non-GAAP Reconciliati 202 9022 (in thousands) 2021 2022 Net loss S$ (26.985) $ (28,948) (21,716) $ (9.964) $ (15,703) Depreciation and amortization expense 2,923 3,093 4,491 6,734 6,975 Investment income (93) (569) (1,487) (1,141) (1,168) Income tax expense 205 189 339 o7 4 Interest expense 1,356 62