Ambu A/s Class B · OMXCOP:AMBU_B
Ambu A/s Class B — J.P. Morgan Healthcare Conference 2026
25 slides from Ambu A/s Class B's conference presentation, January 2026
Slide 1: Achieving Global Endoscopy Leadership
ACHIEVING GLOBAL ENDOSCOPY LEADERSHIP Britt Meelby Jensen CEO
Slide 2: Disclaimer
This presentation contains certain forward-looking statements, including but not limited to, the statements and expectations contained in the "Financial Outlook" section of this presentation. Statements herein, other than statements of historical fact, regarding our future results of operations, fin
Slide 3: From Single Use Towards Global Endoscopy Leadership
FROM SINGLE USE TOWARDS GLOBAL ENDOSCOPY Broadest single-use Customer- #1 single-use LEADERSHIP endoscopy portfolio centric solutions manufacturer “ Ambu created the single- use endoscopy market Endoscopy Solutions Anesthesia & Patient Monitoring and now leads it, driving innovation that raises the
Slide 4: Strong double-digit revenue growth, well above MedTech benchmark
STRONG DOUBLE-DIGIT REVENUE GROWTH, WELL ABOVE MEDTECH BENCHMARK Reported revenue, DKK bn, FY 2018/19 – 2024/25 Global MedTech benchmark Total Endoscopy Solutions Anesthesia & Patient Monitoring Revenue CAGR 6-year CAGR 2x 14% 14% 25% 6.0 5.4 4.8 4.4 4.0 3.6 6% 2.8 2018/19 2019/20 2020/21 2021/22 20
Slide 5: Fast turnaround has powered new accelerated growth strategy
FAST TURNAROUND HAS POWERED NEW ACCELERATED GROWTH STRATEGY Reported revenue, FY 2020/21 – 2024/25 Guiding insights Organic revenue growth EBIT margin1 X Free cash flow, DKK m Launch of Launch of ZOOM IN ZOOM AHEAD Innovation: Strengthen a focus strategy a growth strategy customization to specialty
Slide 6: #1 in Single-Use Endoscopy
TODAY’S FOCUS #1 IN SINGLE- USE ENDOSCOPY Strong established leadership positions in high-growth 1 markets ZOOM AHEAD strategy execution towards global 2 endoscopy leadership 3 Clear path to strong double-digit scalable through 2030 6
Slide 7: Compelling high growth market opportunity
1 | COMPELLING HIGH GROWTH MARKET OPPORTUNITY Single use endoscopy Current single-use market opportunity1 penetration1 Single-use market growth2 Ear/Nose/Throat (ENT) 5-year CAGR DKK 20 bn 2-4% +20% for single-use endoscopy Respiratory DKK 15 bn 20% +15% penetration Gastroenterology (GI) From single
Slide 8: Clinician-backed shift to single-use
1 | CLINICIAN-BACKED SHIFT TO SINGLE-USE Clinicians expect further uptake U.S. example Single-use ~25% 70% future single- X% today market penetration1 use penetration 2009 0% Surveyed clinicians believe that single- ~5% Bronchoscopy today use endoscopes is applicable in 70% of 2018 0% cases in Respi
Slide 9: Single use market more than doubling, with attractive upside potential
1 | SINGLE USE MARKET MORE THAN DOUBLING, WITH ATTRACTIVE UPSIDE POTENTIAL DKK ~190bn total global market opportunity1 DKK ~50bn future single-use market opportunity Clinicians believe DKK +15bn in 70% future single-use single-use market in 2030 penetration in with a +20% CAGR Respiratory, Urology,
Slide 10: Helping hospitals treat more patients
1 | HELPING HOSPITALS TREAT MORE PATIENTS “WE DELIVER VALUE BY DRIVING EFFICIENCY, BETTER ECONOMICS AND SUPERIOR PERFORMANCE Higher efficiency Better economics Strong performance FOR “ HEALTHCARE 50% 13% Superior SYSTEMS” increase in cystoscopy lower cost of single-use or comparative performance We
Slide 11: Achieving global endoscopy leadership through Zoom Ahead strategy execution
2 | ACHIEVING GLOBAL ENDOSCOPY LEADERSHIP THROUGH ZOOM AHEAD STRATEGY EXECUTION 11
Slide 12: Clear strategic choices to win
2 | CLEAR STRATEGIC CHOICES TO WIN Advancing market leadership in Respiratory1 and Urology Continue to grow in ENT 1 Lead transition to single-use in GI through a stepwise approach Advance hardware, software, and AI innovation through EndoIntelligenceTM 2 Grow profitably in Anesthesia and Patient Mo
Slide 13: Broadest single use endoscopy portfolio, one software platform
2 | BROADEST SINGLE USE ENDOSCOPY PORTFOLIO, ONE SOFTWARE PLATFORM Urology ENT Respiratory GI “ Health systems aren't looking at scopes as just scopes. They're looking at their entire breadth of products, EndoIntelligenceTM categories, and services – to strategically figure out what is the best path
Slide 14: Win in Respiratory
2 | WIN IN RESPIRATORY Bronchoscopy 2025 | Entered videolaryngoscopy Ambu® SureSightTM Broadest single- Global market, today use endoscopy Entry into ~4 USD bn portfolio laryngoscopy market DKK bn ~15 market Videolaryngoscopy is 50% of the market and growing aScopeTM 5 with a 15-20% CAGR Single-use
Slide 15: Win in Urology
2 | WIN IN UROLOGY Cystoscopy Pioneered single- Global market, today use cystoscopy, now at 10% market penetration DKK bn ~35 market Innovating to 2024/25 | Entered ureteroscopy Single-use ~10% penetration extend leadership Ambu® aScopeTM Uretero ~ 15 DKK bn market ~10% single-use pen. “ Global sing
Slide 16: Unlock Gastro
2 | UNLOCK GASTRO GI (Gastroenterology) Initial selective focus Ambu® aScopeTM Gastro Unique market ~50 DKK bn market <1% single-use pen. Global market, today opportunity to Drives efficiency and ensures access to unlock gastroscopy equipment in ICU & OR “ DKK bn ~120 market [Single use] would impro
Slide 17: Improving endoscopic performance through EndoIntelligence
2 | IMPROVING ENDOSCOPIC PERFORMANCE THROUGH ENDO-INTELLIGENCETM AI-enabled applications Procedure journey built into integrated ecosystem Before During After Next-gen software enabling advanced analytics solutions Next-gen hardware with advanced data Training Advanced Diagnostic Automated, Cyber- p
Slide 18: Drive sustainable growth through four strategic themes
2 | DRIVE SUSTAINABLE GROWTH THORUGH FOUR STRATEGIC THEMES Customer centricity to improve customer outcomes and efficiency Innovation to deliver integrated and high-impact solutions Business platform to build a scalable profitable platform People & culture to fuel a culture of empowerment and growth
Slide 19: Expanding leadership through technology platform innovation
2 | EXPANDING LEADERSHIP THROUGH TECHNOLOGY PLATFORM INNOVATION Hardware Software platform Advanced applications Micro cameras enable optimization of tool AI-enabled image enhancement provide Training applications enable clinical passage for better access superior visualization at attractive costs c
Slide 20: Resilient global set-up for scalable growth and margin expansion
2 | RESILIENT GLOBAL SET-UP FOR SCALABLE GROWTH AND MARGIN EXPANSION Balanced footprint Quality of innovation Scale Organizational strength Expansion of North America Scale leadership drives cost enabling fast innovation and high- manufacturing ongoing advantage quality solutions 2000 2001 2012 2022
Slide 21: Well-positioned for sustainable double-digit growth
3 | WELL-POSITIONED FOR SUSTAINABLE DOUBLE-DIGIT GROWTH Organic revenue, FY 2022/23 – 2029/30, DKK bn and % split Respiratory and Urology Total Organic revenue remain core growth areas Endoscopy Solutions CAGR to FY 2029/30 Anesthesia & Patient Monitoring 11-13% 15-20% Targeted M&A aligned to endosc
Slide 22: Clear path to +20% EBIT by FY 2029/30
3 | CLEAR PATH TO +20% EBIT BY FY 2029/30 Strong organic growth drives EBIT margin expansion, FY 2022/23 – 2029/30, % Gross margin OPEX-to-revenue EBIT margin +20% ~2/3 Gross margin expansion driven by Continuing our higher growth in Endoscopy Solutions, disciplined pricing governance and transforma
Slide 23: 2025/26 financial guidance aligned with long-term growth aspiration
3 | 2025/26 FINANCIAL GUIDANCE ALIGNED WITH LONG-TERM GROWTH ASPIRATION 2024/25 2025/26 actuals outlook Outlook comments – unchanged from Nov 5th, 2025 Organic Endoscopy Solutions expected to grow +15% with revenue 13.1% 10-13% accelerated growth in Respiratory and continued growth momentum in ‘Urol
Slide 24: Growth and value story – leading the shift to single-use endoscopy
3 | GROWTH AND VALUE STORY – LEADING THE SHIFT TO SINGLE-USE ENDOSCOPY Attractive endoscopy Leading the structural shift to single-use solutions with market +20% annual market growth1 Global #1 in single- Broadest single-use portfolio and proprietary technology platform, use endoscopy with +60%2 sha
Slide 25: Thank you!
From single use towards global endoscopy leadership …a new aspiration Thank you! to achieve global endoscopy leadership INVESTOR RELATIONS CONTACT Anders Hjort Head of Investor Relations anhj@ambu.com | +45 7225 2910 Frederik Futtrup Associate, Investor Relations frfu@ambu.com | +45 6070 9526