Medacta : 2020 Annual Presentation

FY 2020 Financial Results

31 March 2021

Disclaimer

This 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 Medacta 2020 Annual Report available on our website at https://www.medacta.com/EN/investors.

Forward-looking information

This presentation has been prepared by Medacta and includes 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. Currently, it is very difficult to provide a meaningful prediction on how the Swiss governmental action in response to the ongoing outbreak of a novel coronavirus disease (COVID-19) will affect the Medacta's operations and how long such measures will remain in place. The Covid-19 outbreak has caused, and may continue to cause, economic instability and a significant decrease of total economic output in the affected areas and globally. The impact of the Covid-19 outbreak on the general economic environment in the markets in which Medacta operates remain uncertain and could be significant. In addition, other 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.

Alternative Performance Measures

This presentation contains certain financial measures of historical performance that are not defined or specified by IFRS, such as "constant currency", "EBITDA", "Adjusted EBITDA" or "CORE EBITDA", "Free Cash Flow", "Adjusted 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 our 2020 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 2020 annual report.

The 2020 annual report is available athttps://www.medacta.com/EN/financial-reports.

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

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FRANCESCO SICCARDI

Chief Executive Officer

FY 2020 Financial Results

2020 Highlights*

• Alternative Performance Measures: This presentation contains certain financial measures of historical performance that are not defined or specified by IFRS, such as "constant currency", "EBITDA", "Adjusted EBITDA" or "CORE EBITDA", "Free Cash Flow", "Adjusted 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 2020 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 2020 annual report. The 2020 annual report is available at https://www.medacta.com/EN/financial-reports.

FY 2020 Medacta's Achievements

• Revenues equal to Euro 302.5 million, down only 2.1% on constant currency basis, significantly above market decline1, after growth of 7.6% on a constant currency basis in 2H driven by both pent-up demand and new customers acquired
• Adjusted EBITDA of Euro 88.1 million, corresponding to 29.1% margin
• Profit for the year equal to Euro 37.1 million, 12.3% on revenues
• Adjusted Free Cash Flow of Euro 31.9 million, up 43% vs prior year
• Continued strategic investment in salesforce expansion, new product launches and additional surgical instruments to serve new customers
• Strong balance sheet with leverage equal to 0.95
• In light of ongoing global uncertainty caused by Covid-19 pandemic, Company proposes no dividend distribution to the Annual General Meeting to reinvest in future growth plan

Notes:

1. Orthopedic industry is expected to decline in the low double digits in 2020. Source ORTHOWORLD®, April 2021 Bulletin.

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