AngioDynamics : rsquo; Fiscal 2021 Second Quarter Financial Results

ANGIODYNAMICS

Second Quarter 2021 Earnings Presentation

January 7, 2021

1

Forward-Looking Statement

Notice Regarding Forward-LookingStatements

This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements regarding AngioDynamics' expected future financial position, results of operations, cash flows, business strategy, budgets, projected costs, capital expenditures, products, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include the words such as "expects," "reaffirms," "intends," "anticipates," "plans," "believes," "seeks," "estimates," "optimistic," or variations of such words and similar expressions, are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. Investors are cautioned that actual events or results may differ from AngioDynamics' expectations. Factors that may affect the actual results achieved by AngioDynamics include, without limitation, the scale and scope of the COVID-19 global pandemic, the ability of AngioDynamics to develop its existing and new products, technological advances and patents attained by competitors, infringement of AngioDynamics' technology or assertions that AngioDynamics' technology infringes the technology of third parties, the ability of AngioDynamics to effectively compete against competitors that have substantially greater resources, future actions by the FDA or other regulatory agencies, domestic and foreign health care reforms and government regulations, results of pending or future clinical trials, overall economic conditions, the results of on-going litigation, challenges with respect to third- party distributors or joint venture partners or collaborators, the results of sales efforts, the effects of product recalls and product liability claims, changes in key personnel, the ability of AngioDynamics to execute on strategic initiatives, the effects of economic, credit and capital market conditions, general market conditions, market acceptance, foreign currency exchange rate fluctuations, the effects on pricing from group purchasing organizations and competition, the ability of AngioDynamics to integrate acquired businesses, as well as the risk factors listed from time to time in AngioDynamics' SEC filings, including but not limited to its Annual Report on Form 10-K for the year ended May 31, 2020. AngioDynamics does not assume any obligation to publicly update or revise any forward-looking statements for any reason.

In the United States, the NanoKnife System has received a 510(k) clearance by the Food and Drug Administration for use in the surgical ablation of soft tissue, and is similarly approved for commercialization in Canada, the European Union and Australia. The NanoKnife System has not been cleared for the treatment or therapy of a specific disease or condition.

Notice Regarding Non-GAAP FinancialMeasures

Management uses non-GAAP measures to establish operational goals and believes that non-GAAP measures may assist investors in analyzing the underlying trends in AngioDynamics' business over time. Investors should consider these non- GAAP measures in addition to, not as a substitute for or as superior to, financial reporting measures prepared in accordance with GAAP. In this presentation, AngioDynamics has reported adjusted EBITDA (income before interest, taxes, depreciation and amortization and stock-based compensation); adjusted net income; adjusted earnings per share and free cash flow. Management uses these measures in its internal analysis and review of operational performance. Management believes that these measures provide investors with useful information in comparing AngioDynamics' performance over different periods. By using these non-GAAP measures, management believes that investors get a better picture of the performance of AngioDynamics' underlying business. Management encourages investors to review AngioDynamics' financial results prepared in accordance with GAAP to understand AngioDynamics' performance taking into account all relevant factors, including those that may only occur from time to time but have a material impact on AngioDynamics' financial results. Please see the tables that follow for a reconciliation of non-GAAP measures to measures prepared in accordance with GAAP.

2

Corporate Developments

FY2021 Guidance

We continued our focused investment in our three key technology platforms: NanoKnife, AngioVac and Auryon. Within our Thrombus Management portfolio we are progressing toward the planned launch of a multi-purpose mechanical aspiration thrombectomy device in calendar 2021.

Procedural volumes continued to rebound in the second quarter and reflect less severe declines than the 10-15% decline discussed in the first quarter. We expect that the third quarter is likely to see a more pronounced impact from COVID related headwinds along with typical third quarter seasonality.

NanoKnife disposable growth was 76% in the U.S. and 30% worldwide. Growth in

AngioVac was 24%, and we achieved $2.1 million in Auryon sales.

NanoKnife DIRECT study: 26 sites have secured IRB approval, up from 23 at the end of the first quarter.

	PATHFINDER study: 9 sites have been initiated and are enrolling subjects. As of
	today, we are approximately 75% of the way toward our enrollment target and
	expect enrollment to be completed by the end of the 3rd quarter.
	$10 million was paid down on the revolver in December 2020.
Revenue	Reaffirm FY2021 Guidance	Adjusted EPS
$278 - $284 million		$0.00 - $0.05

3

Second Quarter FY2021 Highlights

Financial Performance

$ in thousands (except per share data)	Q2 FY2021	Q2 FY2020	YOY
Change
Revenue	$72,770	$70,003	4.0%
Gross Margin	55.2%	59.3%	(410 bps)
Adjusted EPS	$0.01	$0.06	($0.05)
Adjusted EBITDA	$5,158	$6,410	($1,252)
Cash Provided by Operations	$11,448	$5,937	$5,511
Free Cash Flow	$10,087	$3,314	$6,773

Product Family Sales Growth

Vascular Interventions and Therapies	Q2 FY2021	YTD FY2021
AngioVac®	24%	34%
Auryon	NA	NA
Thrombolytic	4%	(2%)
Core Peripheral	4%	2%
Venous Insufficiency	(11%)	(13%)

Vascular Access	Q2 FY2021	YTD FY2021
Midlines	17%	53%
C3	NA	NA
PICCs	2%	24%
Ports	3%	(1%)
Dialysis	6%	2%

Oncology	Q2 FY2021	YTD FY2021
NanoKnife® Capital	(50%)	(56%)
NanoKnife® Disposables	30%	12%
Solero® Microwave	7%	7%
BioSentry	28%	28%
Alatus and IsoLoc Balloons	(22%)	(27%)
RadioFrequency Ablation	(19%)	(24%)