Slide 1: Second-Quarter 2026 Earnings Update
August 5, 2026 Second-Quarter 2026 Earnings Update
Slide 2: Safe Harbor
Safe Harbor Certain statements in this presentation, other than statements of historical or current fact, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act, and Section 21E of the Exchange Act. These stateme
Slide 3: Intellectual Property, Trademarks, and Trade Names
Intellectual Property, Trademarks, and Trade Names This material may contain references to LivaNova's proprietary intellectual property, including among others: • Trademarks for LivaNova’s Neuromodulation systems, the VNS Therapy™ System, and LivaNova’s proprietary pulse generator products: Model 10
Slide 4: Contents
Contents 2Q26 Key Messages and Summary 2Q26 Financial Results 2026 Guidance and Assumptions Appendix 4
Slide 5: 2Q26 Highlights and Key Messages
2Q26 Highlights and Key Messages • Delivered double-digit reported and high-single-digit constant-currency(1) revenue growth with strength across all regions, Financial reflecting sustained performance in our Cardiopulmonary and Epilepsy businesses Results • Adjusted diluted earnings per share of $1
Slide 6: 2Q26 Summary
2Q26 Summary • Cardiopulmonary growth of 9.9% driven by growth in Europe, primarily reflecting Essenz™ Perfusion System sales, Revenue strong consumables demand, and favorable realized price 9.8% Growth(1) • Neuromodulation growth of 9.5% with growth across all regions, driven by volume growth and f
Slide 7: Financial Results
ly — Financial Results iS
Slide 8: 2Q26 Financial Summary
2Q26 Financial Summary 2Q25 2Q26 Record revenue of $391M and adjusted diluted EPS of $1.26; Net revenue increased 9.8% on a constant- currency basis; favorable FX impact of ~$3M, or 1% Net Revenue ($M) Adjusted Diluted EPS Adjusted FCF ($M) $48 $46 $1.26 $391 $1.05 $353 Adjusted Gross Profit % Adjus
Slide 9: 2Q26 Net Revenue
2Q26 Net Revenue Delivered 9.8% constant-currency(1) revenue growth Neuromodulation Vagus Nerve Stimulation Therapy (VNS Therapy) Cardiopulmonary • Drug-Resistant Epilepsy • Heart-lung machines • Difficult-to-Treat Depression 43% • Oxygenators $391M • Autotransfusion systems Proximal Hypoglossal Ner
Slide 10: 2Q26 Cardiopulmonary Revenue
2Q26 Cardiopulmonary Revenue(1) Drivers/Impacts Net Revenue ($M) 9.9% $222 $199 Cardiopulmonary revenue increased 9.9% led by strength in Europe 87 79 Consumables grew in the high-single-digits in the quarter, driven by low-double-digit growth in oxygenators and perfusion tubing kits, partially offs
Slide 11: 2Q26 Neuromodulation Revenue
2Q26 Neuromodulation Revenue(1) Drivers/Impacts Net Revenue ($M) 9.5% $167 Neuromodulation revenue increased 9.5% with growth across all $152 21 regions driven by volume growth and favorable realized price 17 20 18 Epilepsy revenue grew 10% with U.S. Epilepsy revenue growth of 8% 127 117 Europe and
Slide 12: 2Q26 Adjusted Segment Income and Operating Margin
2Q26 Adjusted Segment Income and Operating Margin(1) Strength of execution in core businesses enables planned investment in innovation pipeline while achieving margin targets $115M 2Q25 2Q26 Cardiopulmonary 18.2% 22.6% $97M Neuromodulation 40.2% 38.9% 65 Total Adjusted Segment Margin 27.7% 29.6% 61
Slide 13: Adjusted Free Cash Flow
Adjusted Free Cash Flow Updated adj FCF guidance range of $140 - $160M for full-year 2026 (versus $160 - $180M prior) reflects incremental strategic investments in Cardiopulmonary capacity expansion, innovation, and IT infrastructure to support the Company’s growth strategy Adjusted Free Cash Flow R
Slide 14: 2026 Guidance
ly — 2026 Guidance iS
Slide 15: 2026 Guidance Tracking Toward High End of Investor Day Commitments
2026 Guidance Tracking Toward High End of Investor Day Commitments Raising full-year revenue(1) and adjusted diluted EPS(2) guidance, maintaining adjusted operating margin and lowering adjusted FCF(3) guidance Prior Guidance Prior Guidance Updated Guidance Investor Day Commitments As of February 25,
Slide 16: Assumptions for 2026
Assumptions for 2026 • Cardiopulmonary revenue expected to grow 9.5 - 10.5% (versus 8.5 - 9.5% prior) REVENUE 8 - 9% • Epilepsy revenue growth expected to grow 7 - 8% (versus 6 - 7% prior) GROWTH(1) • DTD revenue expected to be ~$10M (consistent with prior guidance) • Adjusted operating margin of 20
Slide 17: Adjusted Diluted EPS Guidance Bridge: From Prior to Current Outlook
Adjusted Diluted EPS(1) Guidance Bridge: From Prior to Current Outlook $0.08 $0.11 $4.35 $4.25 ($0.09) At midpoint of At midpoint of $4.20 - $4.30 $4.30 - $4.40 range range (2) As of May 6, 2026 Revenue and Operational Improvements Tariff Refund Benefit Reinvestment into Business As of August 5, 202
Slide 18: OSA: Key Milestones and Expected Upcoming Catalysts
OSA: Key Milestones and Expected Upcoming Catalysts H1 2025 H2 2025 H1 2026 H2 2026 H1 2027 H2 2027 2030 aura6000 PMA (non-commercial) PMA filing approval PMA supplement $200-$400M submission Revenue in Commercial 2030 LMR & FMR Launch (MRI-compatible) (including PolySync) 18
Slide 19: Appendix
ndix Appe iy w
Slide 20: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations To supplement financial measures presented in accordance with generally accepted accounting principles in the United States (U.S. GAAP or GAAP), management has disclosed certain additional measures not presented in accordance with GAAP known as “non-GAAP financial me
Slide 21: Glossary
Glossary AHI Apnea-Hypopnea Index ATS Autotransfusion systems BPS Basis points CMS U.S. Centers for Medicare and Medicaid Services CP Cardiopulmonary DRE Drug-Resistant Epilepsy DTD Difficult-to-treat Depression EPS Earnings per share FCF Free cash flow FDA U.S. Food and Drug Administration FX Forei
Slide 22: Segment Net Revenue Comparisons by Region
Segment Net Revenue Comparisons by Region Three Months Ended June 30, Constant-Currency ($M) 2026 2025 % Change % Change (1) Cardiopulmonary United States $72.8 $71.2 2.2 % 2.2 % Europe (2) 62.0 49.0 26.3 % 23.8 % Rest of World 86.8 79.0 9.9 % 8.4 % 221.6 199.3 11.2 % 9.9 % Neuromodulation United St
Slide 23: GAAP to Non-GAAP Reconciliations - Unaudited
GAAP to Non-GAAP Reconciliations - Unaudited RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES - UNAUDITED (In millions, except for per share amounts) Non-GAAP Adjustments Depreciation and Share-based Adjusted Three Months Ended GAAP Financial Amortization Investment Related Financing Related Co
Slide 24: GAAP to Non-GAAP Reconciliations - Unaudited
GAAP to Non-GAAP Reconciliations - Unaudited RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES - UNAUDITED (In millions, except for per share amounts) Non-GAAP Adjustments Depreciation and Share-based Adjusted Three Months Ended GAAP Financial Restructuring Amortization Investment Financing Rela
Slide 25: GAAP to Non-GAAP Reconciliations - Unaudited
GAAP to Non-GAAP Reconciliations - Unaudited RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES - UNAUDITED (In millions, except for per share amounts) Non-GAAP Adjustments Depreciation and Adjusted Six Months Ended GAAP Financial Amortization Investment Financing Related Contingent Certain Legal
Slide 26: GAAP to Non-GAAP Reconciliations - Unaudited
GAAP to Non-GAAP Reconciliations - Unaudited RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES - UNAUDITED (In millions, except for per share amounts) Non-GAAP Adjustments Depreciation and Adjusted Six Months Ended GAAP Financial Restructuring Amortization Investment Financing Related Contingent
Slide 27: GAAP to Non-GAAP Reconciliations - Unaudited
GAAP to Non-GAAP Reconciliations - Unaudited RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES - UNAUDITED (In millions) Last Twelve Months Ended June 30, Adjusted free cash flow reconciliation 2026 2025 Net cash provided by operating activities $249.3 $216.6 Less: Purchases of property, plant,
Slide 28: GAAP to Non-GAAP Reconciliations - Unaudited
GAAP to Non-GAAP Reconciliations - Unaudited RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES - UNAUDITED (In millions) Non-GAAP Adjustments Segment income Share-based Three Months Ended GAAP Depreciation and Contingent Certain Legal & Compensation Adjusted Financial June 30, 2026 Financial Res
Slide 29: GAAP to Non-GAAP Reconciliations - Unaudited
GAAP to Non-GAAP Reconciliations - Unaudited RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES - UNAUDITED (In millions) Non-GAAP Adjustments Segment income Share-based Six Months Ended GAAP Depreciation and Contingent Certain Legal & Compensation Adjusted Financial June 30, 2026 Financial Resul