Xtant Medical Holdings, Inc. · AMEX:XTNT
Xtant Medical — Investor Presentation (July 2023)
22 slides from Xtant Medical's investor presentation, Jul 3, 2023
Slide 1: Investor Presentation June 2023
\4 CN xX TAN T www.xtantmedical.com Investor Presentation June 2023
Slide 2: Disclosure Statements
DISCLOSURE STATEMENTS Cautionary Statement Regarding Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward- looking statements include statements that are predictive in nature, that depend
Slide 3: Leading Orthobiologics and Niche Spine Fixation Business
LEADING ORTHOBIOLOGICS AND NICHE SPINE FIXATION BUSINESS Mission: To honor the gift of donation so that our patients can live as full and complete a life as possible. Xtant Medical (NYSE American: XTNT) — Based in Bozeman, MT — Technology transfer from MSU — FY 2022 revenue: $58 Million — Anticipate
Slide 4: Experienced Senior Leadership Team
EXPERIENCED SENIOR LEADERSHIP TEAM > ‘SEAN BROWNE KEVIN BRANDT SCOTT NEILS. CHIEF EXECUTIVE OFFICER CHIEF COMMERCIAL OFFICER CHIEF FINANCIAL OFFICER * Baxter + Zimmer * Baker Tilly, US = McKesson * Stryker * Grant Thornton, = Integra LifeSciences + RTI = CCS Medical q aA MARK SCHALLENBERGER CHIEF OP
Slide 5: Evolution Now Has Xtant: Poised for Growth
EVOLUTION NOW HAS XTANT POISED FOR GROWTH Xtant Medical unites exceptional biologics with intuitive fixation design to provide surgical solutions that advance regenerative medicine. E(xspine. {eacterin 2003 ( X-spine Systems 1 is founded Orthobiologics is founded @ 2015 Bacterin acquires X-spine, ch
Slide 6: Complementary Product Offering
COMPLEMENTARY PRODUCT OFFERING fed tiie. $e oF « Posterior SE a Thoracic Fusion/ Thoracic Lumbar. ai aT T BIOLOGICS Milled Grafts Demineralized ¥ = qv Bone Matrix —=_ a ‘. ‘ ugcitonal @ | ie Lumbar Fusion _ A oo TLIF/PLIF/ALIF “Woe Stem Cells a ge Sacrocliac - = Fusion Growth Factor = = FIXATION
Slide 7: Global Spine and Orthobiologic Market
GLOBAL SPINE AND ORTHOBIOLOGIC MARKET Total WW market: Total US market: $10.08 $8.0B $2.4B SPINAL IMPLANTS: $5.6B [ ORTHOBIOLOGICS: Ye larketsand Markets &iData US Market Report Suite or Othopedic Biomaterials xXTANT
Slide 8: US Orthobiologic Market
US ORTHOBIOLOGIC MARKET Opportunity to leverage #4 U.S. market share position in demineralized bone matrix (DBM) via strong distribution and GPO/IDN relationships and expansion into adjacent markets. $2 4B bd Xtant’s current portfolio addresses the entire Demineralized $485M Bone Graft Graft Gra All
Slide 9: Strengthened Fixation Segment with Coflex Acquisition
STRENGTHENED FIXATION SEGMENT WITH COFLEX ACQUISITION coflex . Interlaminar = Strategic Value: Stabilization — PMA approved product with over 90 published clinical trials - = device motion preservation device — Over 225,000 patients have device implanted — Outstanding macro trends for LSS and Medica
Slide 10: Expanded ASC/Outpatient Offering: Growing Market
EXPANDED ASC/OUTPATIENT OFFERING: GROWING MARKET More spine procedures leaving the expensive hospital for ASCs and outpatient facilities Surgeons starting their own ASCs More pain management doctors performing less invasive procedures Lumbar Spinal Stenosis (LSS) is the fastest growing segment in Sp
Slide 11: Surgalign Bankruptcy Deal
cer SURGALIGN BANKRUPTCY DEAL Stalking Horse Bidder for Hardware, Biologics, and International — Over $100M in assets — Over 200 distributors domestically — Expands our already robust contract portfolio 55M stalking horse bid * Transaction will be conducted through a bankruptcy court-supervised proc
Slide 12: Robust Acquisition Pipeline
ROBUST ACQUISITION PIPELINE ACTIVE SALES PIPELINE et Comp: / Product Attributes CAPABILITIES PROFITABILITY CAPACITY = Immediate needs of = Profitable as = Biologics production Stem Cells, Amnion, standalone meets robust Dermis businesses / tech current demand = Longer-term higher = Targets that crea
Slide 13: Growth Strategy Pillars
GROWTH STRATEGY PILLARS XTANT MEDICAL GROWTH STRATEGY Expand Leverage M&A Distribution Adjacent Network Markets GINS Drive new Sell deeper and Utilize current Acquire best in innovations and broader - become portfolio to class technologies distributor a strong national penetrate to enhance current m
Slide 14: Pillar One: New Growth Initiative, New Product Flow
4 PILLAR ONE: NEW GROWTH INITIATIVE, NEW PRODUCT FLOW = Focus on products that expand our reach into new markets = Sustain momentum of successful product launches = Deliver on strong demand for new products 2023: Focus Products Ostecnscton Growth Factor U @ OsteoVive Plus Cellular Allograft Market @
Slide 15: Pillar Two: Expand Distribution Network
15 PILLAR TWO: EXPAND DISTRIBUTION NETWORK STEP ONE - INCREASE CONTRACTUAL ACCESS Today: * All national GPO contracts = Over 400 IDN contracts = DOD/VA access Goal: Build a National Network = Coflex and CoFix Impact = New agreements: — Midwest — Mid-Atlantic — New England
Slide 16: Pillar Two: Expand Distribution Network
PILLAR TWO: EXPAND DISTRIBUTION NETWORK STEP TWO - EXPAND DISTRIBUTION NETWORK 10&10 Growth Plan: 450+ current distributors Plan to Increase Distributor Revenue by 10% Annually PENETRATION > [Q%H% EXPANSION ——+> ]Q+ Plan to Add 10+ Distributors per Quarter 1 XTANT
Slide 17: Pillar Three: Grow Adjacent Markets
PILLAR THREE: GROW ADJACENT MARKETS 79% < won meses 21% of Xtant’s Biologics Revenue is of Xtant’s Biologics Revenue Focused on Spine Procedures is Non-Spine Sales Potential Bone Graft Markets: as ~_ ‘ $625M 7 yA : rl Sancotous O&M Conical BB Fibers Bane - $101IM $102M s abi a Ategatt sparen Git Foo
Slide 18: Leverage and Advance our Platform for Growth
= Leverage and Advance our Platform for Growth: Exceeds 450 distributors 400+ IDN/GPO agreements Growing payor relations depth — Publicly traded currency = Targets for Integration: — Under-capitalized or sub-scale businesses — Single product lines that do not fit strategically in existing company 18
Slide 19: Financials
FINANCIALS $73M - $75M* Annual Revenues: Quarterly Revenues: $17.9M $55.3M $13.0M Q12022 Q1 2023 FY 2021 FY 2022 FY 2023 (EST) 19 *Guidance as issued on May 4, 2023 xXTANT
Slide 20: Projected Q2 and FY2023 Results
20 PROJECTED Q2 AND FY2023 RESULTS Projected Q2 Revenue $19.0M -$20.0M Projected FY2023 Revenue $73M - $75M = Double digit year-over-year organic growth = Continued growth in focus products = Additional cleanrooms online Q3 2023 = Growth in all channels of business = 10% - 14% organic growth = New C
Slide 21: Existing and Post-Transaction Capitalization Structure
EXISTING AND POST-TRANSACTION CAPITALIZATION STRUCTURE Current ‘ (USD in milli Interest Mat Balance j $8M Revolving Term Loan SOFR + 4.50% May 1, 2026 $3.2 Term Loan! SOFR + 7.00% May 1, 2026 17.0 Total Current Debt $20.2 Current Cash 5.0 Current Net Debt $15.2 sa in Impact Net Proceeds From Offerin
Slide 22: Investment Summary: Positioned for Sustainable Long-Term Growth
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