Medacta : 2023 Annual Presentation

FY 2023 FINANCIAL RESULTS

13 March 2024

Disclaimer

This presentation (the "Presentation") has been prepared by Medacta Group SA ("Medacta" and together with its subsidiaries, "we", "us" or the "Group"). The information contained in the Presentation does not purport to be comprehensive. Please refer to the financial reports available on our website at https://www.medacta.com/EN/investors.

FORWARD-LOOKING INFORMATION

This Presentation has been prepared by Medacta and may include forward-looking information and statements concerning the outlook for our business. These statements are based on current expectations, estimates and projections about the factors that may affect our future performance. These expectations, estimates and projections are generally identifiable by statements containing words such as

"expects", "believes", "estimates", "targets", "plans", "outlook" or similar

expressions.

There are numerous risks and uncertainties, many of which are beyond our control, that could cause our actual results to differ materially from the forward-looking information and statements made in this Presentation. The important factors that could cause such differences include: changes in the global economic conditions and the economic conditions of the regions and markets in which the Group operates; changes in healthcare regulations (in particular with regard to medical devices); the development of our customer base; the competitive

environment in which the Group operates; manufacturing or logistics disruptions; the impact of fluctuations in foreign exchange rates; and such other factors as may be discussed from time to time. Although we believe that our expectations reflected in any such forward-looking statement are based upon reasonable assumptions, we can give no assurance that those expectations will be achieved.

RELATED TRADEMARKS

Medacta Group Related Trademarks are registered at least in Switzerland. The products and services listed below may not be all- inclusive, and other Medacta products and services not listed below may be covered by one or more trademarks. The below products and services may be covered by additional trademarks not listed below. Note that Swiss trademarks may have foreign counterparts.

MyShoulder®, NextAR , GMK® Sphere, MyKA , GMK® SpheriKA, AMIS® , MySpine®

ALTERNATIVE PERFORMANCE MEASURES

This Presentation may contain information regarding alternative performance measures. Definitions of these measures and reconciliations between such measures and their IFRS counterparts if not defined in the Presentation may be found on the financial reports available on our website at https://www.medacta.com/EN/investors

THIS PRESENTATION IS NOT AN INVITATION TO PURCHASE SECURITIES OF MEDACTA OR THE GROUP

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FRANCESCO SICCARDI

CHIEF EXECUTIVE OFFICER

FY 2023 KEY FIGURES

REVENUES

EUR 510.8M

16.9% growth at reported currency (19.5% cc1)

64.0% growth in constant currency from 2019

2019	2020	2021	2022	2023

EMPLOYEES

1'730

193 new jobs added in 2023

2019	2020	2021	2022	2023

ADJUSTED EBITDA MARGIN3 EVOLUTION

2019

2020

2021

2022

2023

ADJUSTED EBITDA2

EUR 134.2M

27.9% EBITDA MARGIN in cc 2022

(26.3% reported EBITDA margin)

2019	2020	2021	2022	2023

4

1. Is calculated as the difference between the current and historical period results translated using the previous period exchange rates.

1. Is calculated as EBITDA, adjusted for non-recurring items: extraordinary legal and MDR expenses.
2. Adjusted EBITDA margin, is calculated as adjusted EBITDA as a percentage of Revenue for the period.

FY 2023 HIGHLIGHTS

• FY 2023 revenue increased to EUR 510.8 million, or 19.5% at constant currency (16.9% reported) from FY 2022
• Adjusted EBITDA grew to EUR 134.2 million from EUR 120.4 million in 2022, corresponding to 27.9% margin in constant currency, or 26.3% reported
• The Board of Directors is proposing a distribution of CHF 0.55 per share (0.54 CHF in 2022)
• Outlook FY 2024: We are targeting revenue growth at constant currency in the range of 13% to 15%, and Adjusted EBITDA margin at constant currency improving around 50 bps from 2023 reported, subject to unforeseen events.

Alternative Performance Measures: This presentation contains certain financial measures of historical performance that are not defined or specified by IFRS, such as "such as "constant currency", "EBITDA", "Adjusted EBITDA" or "CORE EBITDA", "Adjusted and Normalized EBITDA", "Free Cash Flow", "Adjusted Free Cash Flow", "Adjusted and Normalized Free Cash Flow", "Net Debt" and "Leverage". Reconciliation of these measures as well as "CORE" financial measures is provided in the "Alternative Performance Measures" (APM) section of the 2023 Annual Report. These Alternative Performance Measures (APM) should be regarded as complementary information to, and not as a substitute for the IFRS beginning performance measures. For definitions of APM, together with reconciliations to the most directly reconcilable IFRS line items, please refer section headed "Alternative Performance Measures" of the 2023 Annual Report. The 2023 Annual Report is available at

https://www.medacta.com/EN/financial-reports.

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FY 2023 REVENUE BRIDGE BY GEOGRAPHIC AREA1

(€m)

22.6%		15.7%		19.4%		11.9%		19.5%

2

2

16.9%

LATAM; 10.2; 2%

APAC;

104.2;

20%

EMEA;

242.4; 48%

NA; 154.0;

30%

EMEA and APAC: a significant performance driven by all the Business lines.

North America: strong performance boosted by some patient backlog recovery in the first half of the year.

1. For a reconciliation of Alternative Performance Measures please refer to section headed "Alternative Performance Measures" of the Annual Report. The 2023 Annual Report is available at https://www.medacta.com/EN/financial-reports

2. In 2023 we reorganized the key geographic areas introducing EMEA and LATAM regions, reclassifying Rest of the World (RoW) region. EMEA includes revenue from the former Europe region and certain countries originally included in

RoW region. LATAM includes revenue from countries located in Latin America which were previously included in RoW region. 2022 figures have been restated accordingly

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FY 2023 REVENUE BRIDGE BY PRODUCT LINE1

(€m)

15.5%		23.2%		33.8%		15.2%		19.5%

16.9%

SPINE;

46.4;

EXTREM.;

36.3;

7%

9%

HIP;

229.8;

2

KNEE; 45% 198.3; 39%

Hip: good performance in all geographies mainly driven by Anterior Minimally Invasive Surgery Approach (AMIS) and Hip revision.

Knee:growth in every market thanks to a solid and complete product offering based on our personalized kinematic alignment solutions (MyKA).

Extremities: primarily attributable to Shoulder supported by Medacta Shoulder System and Technologies (MyShoulder and NextAR). Sportsmed business, which is in an early start-up phase, continued to develop its growth plan.

Spine:positive performance recorded in EMEA and North America. Growth in APAC was partially offset by price cuts in Japan. Good acceleration seen on the NextAR Spine utilization, recently supported by a clinical study which highlights its efficiency in spine surgery.

1. For a reconciliation of Alternative Performance Measures please refer to section headed "Alternative Performance Measures" of the Annual Report. The 2023 Annual Report is available at https://www.medacta.com/EN/financial-reports

2. Extremities include Shoulder and Sportsmed revenues

7

CORRADO FARSETTA

CHIEF FINANCIAL OFFICER

PROFIT & LOSS STATEMENT (€m)
Revenues
Cost of Sales
GROSS PROFIT
CORE R&D expenses
CORE S&M expenses
CORE G&A and other inc. and exp.
TOTAL CORE OPEX, out of which:
Depreciation and Amortization
Adjusted EBITDA	2
Reported EBITDA
Reported EBIT
Financial Results
PROFIT BEFORE TAXES
Income Taxes
PROFIT FOR THE PERIOD

FY 2023 P&L1

FY 2023	%		FY 2022	%
510.8	100.0%		437.1	100.0%
(162.9)	-31.9%		(131.9)	-30.2%
347.8	68.1%		305.3	69.8%
(19.6)	-3.8%		(15.6)	-3.6%
(186.7)	-36.5%		(159.6)	-36.5%
(65.9)	-12.9%		(61.1)	-14.0%
(272.1)	-53.3%		(236.3)	-54.1%
58.4	11.4%		51.5	11.8%
134.2	26.3%	3	120.4	27.6%
132.9	26.0%		113.0	25.8%
74.4	14.6%		61.5	14.1%
(15.7)	-3.1%		(6.7)	-1.5%
58.7	11.5%		54.8	12.5%
(11.4)	-2.2%		(8.5)	-2.0%
47.4	9.3%		46.2	10.6%

69.6% c.c. (1.5% Fx effect)

27.9% c.c.

1. For a reconciliation of Alternative Performance Measures please refer to section headed "Alternative Performance Measures" of the Annual Rreport. The 2023 Annual Report is available athttps://www.medacta.com/EN/financial-reports
2. Adjusted EBITDA is calculated as EBITDA adjusted for non-recurring items: provisions on litigation, extraordinary legal expenses etc.

3. Adjusted EBITDA margin is calculated as adjusted EBITDA as a percentage of Revenue for the Year.	9

FY 2023 CAPEX FOR FUTURE GROWTH

R&D Investments		Other Intangibles3
EUR 8.8M		EUR 2.1M
			Financial Investments1
				EUR 5.5M

Other Tangibles2

EUR 15.1M

EUR 80.6M

Instruments

EUR 49.1M

	Var.	FY 2023	FY 2022
Investments (€M)	15.5	80.6	65.1
% of Reported Revenues	1%	16%	15%
% of Revenues cc growth	(25%)	94%	119%

1. Financial Investments include advances on deposits paid for the acquisition of Property, Plant and Equipment.
2. Other Tangibles include Land, Buildings, Plants & Machinery, Other fixture and fittings, tool and equipment and Assets under construction.

3. Other Intangibles include trademarks, license, software, patents and other intangible assets.	10