Orthofix Medical : Investor Presentation - May 21, 2026

About this update from Orthofix Medical Inc.

Drive Profitable Growth Investor Presentation May 21, 2026 Non-GAAP Financial Measures Management uses certain non-GAAP financial measures in this presentation, most specifically Adjusted EBITDA, Adjusted Gross Margin, Adjusted Net Income and Free Cash Flow, as a supplement to GAAP financial measures to further evaluate the Company's operating performance period over period, analyze the underlying business trends, assess performance relative to competitors and establish operational objectives. Management believes it is important to provide investors with the same non-GAAP metrics it uses to evaluate the performance and underlying trends of the Company's business operations to facilitate comparisons to its historical operating results and evaluate the effectiveness of its operating strategies. Disclosure of these non-GAAP financial measures also facilitates comparisons of the Company's underlying operating performance with other companies in the industry that also supplement their GAAP results with non-GAAP financial measures. Unless noted otherwise, full-year guidance is based on the current foreign currency exchange rates and does not take into account any additional potential exchange rate changes that may occur this year. These non-GAAP financial measures should not be considered in isolation from, or as replacements for, the most directly comparable GAAP financial measures, as these measures are not prepared in accordance with U.S. GAAP. Reconciliations between GAAP and non-GAAP results are included at the end of this presentation and represent the most comparable GAAP measure(s) to the applicable non-GAAP measure(s) shown in the table. For further information regarding the nature of these exclusions, why the Company believes that these non-GAAP financial measures provide useful information to investors, the specific manner in which management uses these measures, and some of the limitations associated with the use of these measures, please refer to the Company's current report on Form 8-K regarding its first quarter 2026 press release filed on May 5, 2026 with the SEC and available on the SEC's website at https://www.sec.gov and on the "Investors" page of the Company's website at https://www.orthofix.com . The Company's non-GAAP financial measures for the three months ended March 31, 2026, and 2025, have been adjusted to eliminate the financial effects of the Company's decision to discontinue its M6 product lines. Accordingly, previously reported figures for 2025 have been recast to reflect the financial impact of this decision. Amounts may not add due to rounding. 3 Key Themes Disciplined, Profitable Growth to Maximize Value Creation Building on a strong foundation as a leading global med tech company with a 01 comprehensive portfolio of spinal solutions, therapeutic solutions, biologics, specialized limb reconstruction solutions, and an advanced surgical navigation system (7D FLASH ) 02 Driving meaningful and sustainable, above-market growth with broad, differentiated technologies, extensive commercial reach, and improving financial strength 03 Delivering significant value to surgeons and patients and setting new standards of innovation through our products and extensive solutions 04 Executing a clear strategy for profitable growth led by an established, world-class management team 05 Prudently deploying capital and prioritizing investment in profitable growth opportunities in areas where we can win 4 Orthofix Commitment to Disciplined, Profitable Growth to Deliver Life-Changing Solutions and Maximize Value Creation 5 Building on a Strong Foundation - Transformation Focused on Accelerating Excellence RECENT ACCOMPLISHMENTS AND TRANSFORMATIVE ACTIONS Building on clear competitive advantages Delivering consistent performance - achieved profitability objectives , adjusted EBITDA margin expansion Delivered free cash flow generation of $3.1 million 1 in FY 2025 Supporting profitable growth with disciplined capital deployment Driving a culture of execution and accountability through established, world-class management team CONTINUED LEADERSHIP FOCUS AREAS - MULTIPLE LEVERS FOR PROFITABLE GROWTH Innovation Focus Continued development of differentiated products to meet diverse surgeon preferences Commercial Strategy Enhancement Deeper market penetration through comprehensive portfolio offerings Technology Leadership Harnessing advanced systems for improved surgical outcomes and efficiency Growth Sustainability Emphasis on high-quality revenue streams and operational excellence Cash Flow Management Strategic financial planning to achieve positive free cash flow Entering a New Phase in our Journey, Driven by Strategic, Operational and Financial Discipline 6 1 Excluding the free cash flow impact related to the Company's discontinuation of the M6 product lines and related restructuring activities. Aligned Around Our Vision and Mission Vision The unrivaled partner in med tech, delivering exceptional experiences and life-changing solutions Mission We provide medical technologies that heal musculoskeletal pathologies. We enable our teams through opportunities for growth, ownership of responsibilities, and empowerment to execute. We do this for patients and the healthcare professionals who treat them. We collaborate with world-class surgeons and other partners to bring to market highly innovative, cost-effective, and user-friendly medical technologies through excellent customer service. We do this to improve people's quality of life, and in doing so, create exceptional value for our customers, employees and stockholders. 7 ORTHOFIX TODAY Healing Musculoskeletal Pathologies in Spine and Limb Reconstruction with Specialized Solutions and Enabling Technologies Founded Key Stats Employees NASDAQ ~$475M Market-Cap 1 ~71.7% TTM Adjusted Gross Margin 2 ~$84.1M TTM Adjusted EBITDA 2 ~$120.9M Cash, Cash Equivalents, and Restricted Cash 2 TTM Net Sales 2 by Business Therapeutic Solutions 17% 30% Global Presence HQ Lewisville, TX ~83% U.S. ~17% Int'l TTM Net Sales 2 by Geography Office Spinal Implants, Biologics, and Enabling Technologies Limb Reconstruction ~$819.1M 53% Manufacturing / Distribution 3 rd -Party Logistics Multiple Paths for Value Creation 8 Note: TTM = Trailing 12 Months. 1 4/30/2026. 2 As of 3/31/2026; All figures exclude impact of net sales and/or results of operations related to discontinuation of M6 product lines. Clear Strategic Pathway with Multiple Drivers for Value Creation Key Focus Areas & Priorities Invest in Differentiated Technologies Where Orthofix Can Win and Lead Innovate to drive growth and strengthen leading positions Future upside from high-impact new product launches Capitalize on Multiple Access Points to Grow at Above-Market Rates Leverage technologies and sales channels across complementary product segments Create new entry points, cross-selling opportunities and stickier surgeon relationships Operate with Discipline for Margin Expansion Rigorous allocation of resources to high-return opportunities Focus on process and gross margin improvements Build Financial Resilience and Unlock Strong, Consistent Cash Flow Improved financial strength with profitability and term loan flexibility Strategy is Driving Long-Term Profitable Growth 9 9 Two Growth Pillars - One Integrated Performance Engine Spine Maximize procedural selling opportunity with Biologics, Limb Reconstruction, and Enabling Technologies Therapeutic Solutions (formerly Bone Growth Therapies) Combined portfolio with Biologics to target trauma surgeons Combine with select Limb Reconstruction products Expanding domestically through legacy SeaSpine distribution and U.S. Limb Reconstruction channels Biologics Expand cross-selling with U.S. Limb Reconstruction channels Limb Reconstruction Maximize procedural selling opportunity with Biologics, Limb Reconstruction, and Enabling Technologies Enabling Technologies (ET) Focus on 7D equipment placements to drive recurring implant usage Leverage investment and drive synergistic approach across the portfolio 10 Capitalizing on Clear Competitive Advantages Expanding and Deepening Customer Relationships Comprehensive Portfolio of Transformative Solutions Established Distribution Channels and Extensive Global Commercial Reach World-Class, Visionary Leadership Team with Deep Sector Expertise Improved Clinical Efficiencies and Economic Value with 7D Enabling Technology Large Addressable Markets with High-Growth Opportunities Across Continuum of Care 11 Addressable Markets ~$16B within Full Continuum of Care Total Addressable Market 1 2026 - 2028 Expected Market Growth Rate Spinal Implants ~$10.1B ~3% - 4% Therapeutic Solutions (formerly Bone Growth Therapies) ~$0.6B ~2% - 3% Biologics ~$2.1B ~2% - 3% Limb Reconstruction (formerly Orthopedics) ~$2.6B ~5% - 6% Enabling Technologies ~$0.4B ~10% - 12% Well-Positioned for Favorable Macro Trends Aging Population Digital Healthcare Evolving Standards of Care AI and Machine Learning Enabling Technology Advancement 12 1 2025 Total Addressable Market. Spinal Implants Driving Innovation and Taking Share Comprehensive, best-in-class spinal implants designed to work in concert with 7D Navigation and biologics to support improved clinical outcomes Focus on deformity correction Proven expertise in cervical fixation and material science Shoreline ACS NorthStar OCT Select Product Examples Deformity Phoenix MIS Wayfinder Mariner Cervical Thoracolumbar Fixation Market Overview ~$10.1B TAM 1 OFIX Growth Drivers Thoracolumbar Fixation Significant share capture opportunity ~3% - 4% market growth rate (2026 - 2028) Interbody Significant share capture opportunity ~3% - 4% market growth rate (2026 - 2028) Cervical Significant share capture opportunity ~3% - 4% market growth rate (2026 - 2028) WaveForm (3D Printed) Reef (IBDs) Interbody Explorer (Expandable) Sales channel optimization for growth, cross-selling, and OPEX leverage Meridian Pull through from lateral, cervical, and 7D earnouts Best-in-class implants to improve patient outcomes Supporting Clinicians and Patients through Continuous Innovation of Procedure Solutions 13 1 2025 U.S. Total Addressable Market. Sources: iData Research Inc.; U.S. Market Report for Spinal Implants and VCF; SmartTrak US Spine Market Report; Internal OFIX estimates Therapeutic Solutions (formerly Bone Growth Therapies) Market Overview ~$0.6B TAM 1 Spine #1 Position ~2% - 3% market growth rate (2026 - 2028) Fracture #2 Position ~2% - 3% market growth rate (2026 - 2028) OFIX Growth Drivers Procedural selling focused on cross-selling with limb reconstruction and spine New market channels with established sales representatives AccelStim growth to penetrate Fracture market Maximizing #1 Market Position Safe, effective, non-surgical solution to promote bone healing in fracture management and high-risk spine fusions Most comprehensive portfolio of bone growth stimulation devices Most indications on the market to aid in bone healing solutions 1,400,000+ #1 prescribed bone growth stimulator First to offer free recycling for patients to properly dispose of their devices PEMF technology approved since 1986 Prescribed devices AccelStim PhysioStim Select Product Examples SpinalStim CervicalStim Complex Foot & Ankle Reconstruction and Fracture Management Spine Fusion Therapy Exceeding Market Growth Rate through Innovation and Expansion 14 Note: PEMF = Pulsed Electromagnetic Field. 1 2025 U.S. Total Addressable Market. Biologics Renewed Focus on Advancing our Portfolio Full spectrum of biologic solutions to enhance fusion process and promote bone repair and growth Select Product Examples OsteoStrand Plus OsteoSurge 300 Provide industry leading, best-in-class products in each of the major bone grafting categories Trinity Elite Market Overview ~$2.1B TAM 1 Demineralized Bone Matrix #3 Position ~2% - 3% market growth rate (2026 - 2028) Cellular Allograft #2 Position ~2% - 3% market growth rate (2026 - 2028) Synthetic Demineralized Bone Matrix Cellular Allograft Significant share capture opportunity ~2% - 3% market growth rate (2026 - 2028) Growth Factors, Other Do not participate OsteoCove OsteoBallast Synthetic Procedure-Specific OFIX Growth Drivers Opportunities in current portfolio and spine Product innovation with clinical research Disc regeneration, channel expansion options Strategically Introducing New Products to Capture Additional Market Share 15 1 2025 Global Total Addressable Market, including Growth Factors. Limb Reconstruction (formerly Orthopedics) Market Overview ~$2.6B TAM 1 OFIX Growth Drivers Limb Preservation ~5% market growth rate (2026-2028) Extremity Deformity Correction ~5% - 6% market growth rate (2026 - 2028) Complex Fracture Management ~3% - 4% market growth rate (2026 - 2028) Limb Lengthening ~9% market growth rate (2026 - 2028) *Significant share capture opportunity across all 4 pillars Accelerating U.S. growth and expanding position Global sales channel optimization through execution and focused distribution New, unique product platforms with next-gen digital capabilities Leading the Growth Unique portfolio of limb reconstruction solutions, addressing the most challenging orthopedic conditions in patients of all ages Select Product Examples TL-HEX Extremity Deformity Correction TrueLok Elevate Limb Preservation Fitbone Galaxy Gemini Limb Lengthening Complex Fracture Management Enabling Technologies - OrthoNext Proven Leader with Room to Grow through Innovation of Hardware and Digital Solutions 1 2025 Global Total Addressable Market. 16 Sources: iData Research Inc. 2021; Berkyl Global Market Analysis 2020; SmartTrak 2024; Orthoworld Industry Annual Report, 2024; Acuity MD Data, 2025; Grandview Research, 2023; US Bone Transport Procedure Volume Analysis, 2015; CDC National Diabetes Statistics Report, 2022; Brownrigg, et al. Evidence-based Management of PAD & the Diabetic Foot, 2013. 45(6), 673-681; Behroozian et al. Art Thro Vasc Biology, 2020. 40(3). Four Focus Areas - Limb Reconstruction Extremity Deformity Correction Limb Preservation ENABLING TECHNOLOGIES LIMB RECON Industry leader with a unique portfolio of limb reconstruction solutions, addressing the most challenging conditions in patients of all ages Limb Lengthening Complex Fracture Management ENABLING TECHNOLOGIES 17 Innovation Spotlight: TrueLok Elevate System Supporting surgeon-led correction of complex bony and soft-tissue defects The TrueLok Elevate device has not been approved by the FDA for treatment of ulcers and the safety and effectiveness of the TrueLok Elevate for treatment of ulcers has not been established. 18 Tibial cortex transverse transport: Historical evolution, clinical applications, and future directions-Schroeder, et al. Foot & Ankle Surgery: Techniques, Reports & Cases, Vol 5, Issue 3, 100513 © 2025 The Author(s). Published by Elsevier Inc. on behalf of American College of Foot and Ankle Surgeons. Orthofix has not made any changes to the image above and use of this image is in no way an endorsement of the Journal or Authors Minimally invasive, quick application, reproducible technique Versatile design Sterile, ready to use components Patient Case Study - What Limb Reconstruction Means for Justin 19 Background Justin, a 6'9" newlywed, suffered from severe genu valgum (knock-knees) that caused chronic pain and limited mobility. As he prepared for fatherhood, he feared becoming disabled without corrective surgery. Click here for Justin's story OFIX Unique Solution Under the care of Dr. William Terrell , the team elected to treat both legs simultaneously − TL-HEX External Fixation System used on tibias for gradual, precise realignment − Double ring configuration for added support due to height and size − Post-surgery, fixators adjusted twice a day to correct the bone alignment Result / Outcomes Successful Orthofix-supported deformity correction procedure Restoration of patient mobility Strengthened customer loyalty Life is much better than it was before the surgery. I am almost back to 100% to what I should have been before. - Justin Enabling Technologies Market Overview ~$0.4B TAM 3 Spinal Navigation Significant share capture opportunity ~10% - 12% market growth rate (2026 - 2028) OFIX Growth Drivers 7D deployments through commercial financing structures and product pull through Product integration with spinal implant portfolio Digital ecosystem expansion (pre-op planning, intra-op navigation, and post-op care) Empowering Excellence with Real-Time, Integrated Smart Technologies FLASH Navigation with 7D Technology, world's leading zero-radiation 1 spine image-guided surgery system Allows surgeons to perform fast, cost-effective, and radiation-free surgery Pacesetting leader for open spine procedures and deformity correction Product Example Significant Focus in Spine Open and Percutaneous Spine Modules 2 FLASH Navigation with 7D Technology Seizing Significant Opportunity to Leverage Technology and Expand Share in Spine 20 1 Based on a pre-op CT or MRI, no intra-op radiation is required using Open Spine Module, eliminating exposure to surgeons, staff, and patients. Intra-op radiation is required for Percutaneous Module. 2 ~40% of U.S. installed base has cranial module. 3 Global Total Addressable Market. Attention : This is an excerpt of the original content. To continue reading it, access the original document here .

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