Press release 2025 full-year results

AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR

• Core sales1 in 2025 grew organically 15.7% (CER) to CHF 266.1 million (total sales: CHF 269.3 million), driven by double-digit growth in all regions and segments

• Overall cost discipline drives core EBITDA margin to 18.4% (reported: 19.1%) despite significant currency and additional customs burdens

• Keri Medical and NeoOrtho businesses were consolidated in May and July and achieved accretive sales growth in 2025 of 30% and 17%, respectively

• M&A: Medartis signs definitive agreement to acquire Belgian CADskills, expanding its patient-specific offering for head and hand surgery

• Guidance 2026: Medartis expects organic core sales growth of 16% - 18% and a core EBITDA margin in the high teens (at CER)

‌1,2 This report and accompanying financial documents include alternative performance measures (APMs), referred to as "core" figures, which provide additional insight into Medartis' underlying performance. Core figures exclude certain one-time, non-recurring and extraordinary items or items related to M&A. The NSI contract manufacturing business and NeoOrtho's hip business (divested in H2 2025) contributed CHF 3.2 million to total revenue and were classified as non-core. For a detailed overview of all non-core events in the Income Statement, please refer to APM section of the Annual Report. Organic growth is calculated using fixed exchange rates (CER). To ensure fair comparison, it includes the acquired business's sales in the baseline figures from the date Medartis assumed control.

Medartis completed two acquisitions during 2025. The KeriMedical partnership, which commenced in 2020, reached completion in July following FDA approval for the flagship TOUCH prosthesis. Medartis now holds 100% ownership of KeriMedical, strengthening the company's position in arthroplasty and marking its entry into this segment. Separately, Medartis acquired a 51% controlling stake in NeoOrtho, a fast-growing value player in the Brazilian orthopaedic market. The acquisition enables a multi-tier pricing strategy and expands the company's presence in Latin America. It represents a strategic entry into the estimated CHF 450 million value market segment in the region, which currently accounts for approximately three-quarters of the total market.

Together, these transactions expand Medartis' addressable market by more than CHF 800 million, based on current market estimates in the segments where the company is active; the long-term potential is estimated to be considerably larger as these segments continue to grow and the company expands its geographical reach. Beyond portfolio expansion, they form part of a broader organisational evolution as Medartis transitions from a centralised, Swiss precision-oriented structure to a more decentralised, multi-brand model. This shift is designed to enable the company to compete more effectively across diverse global markets with differing customer needs and competitive dynamics.

With the publication of today's results, Medartis also announced that it has entered an agreement to acquire CADskills, a Belgium-based specialist in personalised implant solutions and titanium printing, two fast-evolving areas in extremity and head (CMF) surgery. The acquisition reinforces Medartis' strategic focus on more complex clinical applications with custom-made implants - including replacement of the jaw joint3, implants designed to sit directly on the bone surface for patients with significant bone loss4, and facial contouring solutions5. CADskills holds certification to manufacture class III medical devices - the highest regulatory classification for implants. The company has also developed deep expertise in titanium 3D printing and operates a highly integrated model encompassing design, manufacturing and packaging. These printing capabilities are transferable to other regions in the future, supporting Medartis' broader geographic expansion.

‌3 Temporomandibular joint replacement, TMJR Parametro™

‌4 Subperiosteal implants, AMSJI®™ = Additively Manufactured Subperiosteal Jaw Implant

‌5 Facial contouring

In addition, the acquisition expands Medartis' upper extremity replacement offerings through the Carpitech™ family, which includes carpal bone arthoplasties, further consolidating Medartis' position as a market leader in small bone replacement in the hand.

CADskills was founded by Prof. Dr mult. Dr Maurice Mommaerts, whose work and research in patient-specific implant design and additive manufacturing has contributed to advancing the field. Following the integration in the Medartis Group, Mr Mommaerts will provide scientific and clinical expertise to support continuity during the expansion phase. The transaction is structured as an upfront payment complemented by sales-based earnout components. Both parties have agreed not to disclose exact financial details. Closing of the transaction remains subject to the fulfilment of certain conditions, including a successful Foreign Direct Investment (FDI) screening in Belgium.

Core sales

in CHF million

FY 2025 FY 2024 Change

in CHF

Change at CER Organic change

at CER

1The NSI contract manufacturing business and NeoOrtho's hip business, which was divested in 2025, were classified as non-core.

In the EMEA region, core sales rose substantially from CHF 122.8 million in 2024 to CHF 155.4 million in 2025, reflecting growth of 28.5% at constant exchange rates. The acquired KeriMedical business contributed CHF 14.1 million to the topline since its consolidation in July 2025. Organically, sales rose 18.0% (CER). The UK and Spain were the primary contributors to the 18.0% growth. In Germany, the company's largest market in Europe, results were solid despite some impact from the transition to the new hybrid DRG reimbursement system6 for lower extremities. This performance enabled the company to capture additional market share in the region, driven by the expansion of its elbow portfolio, KeriMedical product sales, and greater territorial coverage thanks to a strengthened sales team. The KeriMedical business, currently distributed directly in three markets, accounted for one quarter of regional growth.

The 2025 EMEA performance surpassed expectations. Medartis secured a significant tender in Saudi Arabia and established market access in Malta and the Baltic countries. In Switzerland, the company introduced its new Hand 2 portfolio, strengthened its presence in the French-speaking region, and benefitted from a substantial CMF contract with the region's largest university clinic.

‌6 DRG = Diagnosis-Related Group. Reimbursement is calculated by applying a indication specific multiplier to a standardised base rate.

Core sales

in CHF million

FY 2025 FY 2024 Change

in CHF

Change at CER

Organic change

at CER

1The NSI contract manufacturing business and NeoOrtho's hip business, which was divested in 2025, were classified as non-core.

Medartis' core US business achieved organic growth of 13.4% at constant exchange rates. Despite a weakening US Dollar, which reduced reported sales by over 6%-points, sales exceeded the CHF 50 million threshold for the first time in the company's history. The declining contract manufacturing business from the former NSI contributed CHF 1.8 million in sales to total sales, down from CHF 5.2 million in 2024.

Growth moderated in H2 primarily due to the strategic sales channel optimisation, during which the company replaced approximately half of its 57 distribution partners to achieve greater brand and product exclusivity in operating theatres. Following the optimisation, the company now operates with 65 distribution partners. Mid-year, the company terminated its relationship with its largest distribution partner in Florida, accounting for nearly 10% of US sales, to address fundamental issues that would have constrained future growth in the region. The affected territories were refilled rapidly and coverage was expanded through five new distributors across Florida, with complete integration expected within 12 months from the onset of the transition. The company also appointed a new regional sales manager for the Southeast region Orlando and Tampa, positioning itself to capitalise on its first US training centre in Orlando, scheduled to open in Q4. Florida represents a strategically important market for TOUCH, given the population density and age demographics in this retirement state. Excluding the unexpected change in Florida, full-year growth would have reached 18%.

Concurrent with these developments, the company launched the Avenger radial head prosthesis and prepared for the commercial rollout of TOUCH in 2026, with initial cases performed by key opinion leaders (KOL) and product registration completed in first-mover centres. The registration process through a value analysis committee (VAC) averages up to four months. To support this important launch, Medartis recruited 10 specialists - comprising field experts and education specialists -and established a train-the-trainer programme designed to train more than 300 surgeons with hands-on support in 2026.

A strategic portfolio review resulted in streamlining efforts, including the discontinuation of former NSI products, allowing Medartis to concentrate more resources on upper extremities. The year marked an important transition for the region, with FDA approvals, sales channel optimisation, portfolio streamlining, and leadership changes positioning the company for sustained growth. Management anticipates that TOUCH will serve as a catalyst for business expansion and broaden the surgeon base.

Sales in the APAC region increased from CHF 31.1 million in 2024 to CHF 33.4 million in 2025, representing growth of 14.0% (CER) and strong currency headwind. Excluding a minor acquisition effect from KeriMedical sales in the region, organic sales growth reached 13.3% (CER). The Asia Pacific region returned to double-digit growth after two years of challenging market conditions. With the adverse pricing impact ceasing in mid-2025 and fuelled by distal radius growth in excess of 9%, Medartis' Australian business achieved solid performance. Following the first full year of TOUCH product sales, reimbursement approval remains pending. The clinician feedback for TOUCH is positive and the clinical appetite for the basal thumb prostheses remains high. Medartis anticipates a reimbursement decision in H1, which is expected to establish pricing for CMC17 arthroplasty on the 'Prescribed List' and stimulate patient flow. The Japanese business recorded growth in excess of 50% as the transition to direct distribution for the upper extremity portfolio progressed. New surgeon acquisition and customer conversion from the former local distributor continued to advance, albeit at a slower pace than initially anticipated. The company's CMF distributor in Japan exceeded planned targets for the Modus product line, whilst APAC distributors delivered single-digit growth, slightly below internal projections.

The consolidation is expected to generate operational synergies from 2027 onwards and provide the scale required to support regional growth. The new production facility progressed according to plan and is set to be inaugurated at the end of March 2026. Beyond this integration, Medartis is preparing market entries with both brands in Colombia, Argentina, and Chile during 2026 and 2027. The Latin America strategy is intended to serve as a template for entering other value markets in the future.

This media release and other investor and financial press communications include Alternative Performance Measures (APMs), which exclude one-time effects and M&A-related intangible asset amortisation to provide a clearer view of the company's underlying operating performance. Medartis management uses these metrics to assess Medartis' financial and operational performance, providing a complementary

‌7 Thumb osteoarthritis (CMC = carpometacarpal joint arthritis)