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These forward looking statements are not guarantees of our future performance and involve risks, uncertainties, estimates and assumptions that are difficult to predict, including the risks described under the heading \"Risk Factors\" in our Form 10-Q for the period ended June 30, 2023, which was filed with the Securities and Exchange Commission (the \"SEC\") on August 8, 2023. Factors that could cause or contribute to such differences may include, but are not limited to: risks related to the integration of the legacy Orthofix and SeaSpine businesses and the ability of the combined company to realize the expected long term financial and other benefits of their merger; surgeons' and hospitals' willingness to adopt our newly launched products; the ability of newly launched products to meet the needs of surgeons and patients, including as a result of the lack of clinical validation of products in limited commercial (or \"alpha\") launch; continued pricing pressure, whether as a result of consolidation in hospital systems, competitors or others, as well as exclusion from major healthcare systems; the risk of supply shortages and associated disruption to product sales, including as a result of our dependence on a limited number of third-party suppliers for components and raw materials, as a result of the pandemic, or otherwise, and our ability to adequately manage inventory; global economic instability and potential supply chain disruption, including as a result of Russia's invasion of Ukraine and resulting sanctions; our ability to recruit and retain management and key personnel (including in connection with disruptions and uncertainties that may occur as the legacy Orthofix and SeaSpine businesses are integrated and the respective management and leadership teams are combined); our ability to continue to invest in medical education and training, product development, and/or sales and marketing initiatives at levels sufficient to drive future revenue growth; risks relating to the effects of the COVID 19 pandemic; general economic and business conditions in the markets in which we do business, both in the U.S. and abroad; and the other risks and uncertainties more fully described in our periodic filings with the SEC. 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08:05:07.876+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "dd696b90-bce4-43a8-8803-f8c46587803e", "parentComponentId": null }, { "bbox": { "h": 0.102, "w": 0.34, "x": 0.034, "y": 0.759 }, "kind": "source-note", "text": "(2) The reasons for and nature of non-GAAP disclosures by the Company,\ndescriptions of the adjustments used to calculate those non-GAAP\nfinancial measures, and reconciliations of those non-GAAP financial\nmeasures to the most comparable GAAP financial measure, are\nprovided in the Company's press release issued and Current Report on\nForm 8-K filed on August 8, 2023.", "attrs": {}, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 08:05:07.876+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "26dc485f-3eac-4100-99b6-3147de1f04d7", "parentComponentId": null }, { "bbox": { "h": 0.102, "w": 0.34, "x": 0.034, "y": 0.643 }, "kind": "source-note", "text": "(1) Constant Currency is calculated by applying foreign currency rates\napplicable to the comparable, prior-year period to present the current\nperiod net sales at comparable rates. Constant currency can be\npresented for numerous GAAP measures, but is commonly used by\nmanagement to analyze net sales excluding the impact of changes in\nforeign currency rates.", "attrs": {}, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 08:05:07.876+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "45c29b9e-f091-486c-9481-0ca1fba97e3b", "parentComponentId": null }, { "bbox": { "h": 0.013, "w": 0.199, "x": 0.424, "y": 0.953 }, "kind": "source-note", "text": "©2023 Orthofix Medical Inc. All rights reserved | 14", "attrs": {}, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 08:05:07.876+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "88602768-325e-45ac-a969-1dc3505a471c", "parentComponentId": null }, { "bbox": { "h": 0.035, "w": 0.34, "x": 0.034, "y": 0.875 }, "kind": "source-note", "text": "(3) See Appendix A for calculation of proforma Adjusted EBITDA and\nproforma Adjusted Gross Margin for each quarterly period of 2022.", "attrs": {}, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. 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null, "promptVersion": null }, "componentId": "4e024f3c-9741-410c-aae1-63ec51b9e6c6", "parentComponentId": null }, { "bbox": { "h": 0.035, "w": 0.16, "x": 0.716, "y": 0.17 }, "kind": "subtitle", "text": "Q2 2023 BGT Revenue\n10% Growth YoY", "attrs": {}, "canon": { "kind": { "name": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "82d821ee-2793-42e7-8f16-c6131385a3ce", "version": 1, "description": "Header-zone supporting text near the title (= ex body.description with bbox)." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 08:05:07.876+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "51e2da58-fa43-44f6-abe1-6a1c1ee3235b", "parentComponentId": null }, { "bbox": { "h": 0.056, "w": 0.259, "x": 0.424, "y": 0.17 }, "kind": "subtitle", "text": "Q2 2023 Revenue\n58% Growth YoY at Constant Currency (1)\n7% Proforma Growth YoY at Constant Currency (2)", "attrs": {}, "canon": { "kind": { "name": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "82d821ee-2793-42e7-8f16-c6131385a3ce", "version": 1, "description": "Header-zone supporting text near the title (= ex body.description with bbox)." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 08:05:07.876+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "5b841714-1354-41e0-831c-d1908093a0d0", "parentComponentId": null }, { "bbox": { "h": 0.017, "w": 0.149, "x": 0.716, "y": 0.881 }, "kind": "subtitle", "text": "Adjusted Gross Margin (2)", "attrs": {}, "canon": { "kind": { "name": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "82d821ee-2793-42e7-8f16-c6131385a3ce", "version": 1, "description": "Header-zone supporting text near the title (= ex body.description with 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Those proforma non-GAAP financial measures are intended to report the financial impact of the merger with SeaSpine on Adjusted EBITDA and Adjusted Gross Margin as if the merger had occurred on January 1, 2022, in order to assist investors with comparing those proforma results to those same non-GAAP financial measures as reported for the 2nd quarter of 2023.\nA reconciliation of those pro forma non-GAAP financial measures for the 2nd quarter of 2022 to the nearest GAAP financial measure for each of SeaSpine and Orthofix, as well as a comparison to Adjusted EBITDA and Adjusted Gross Margin for Orthofix for the 2nd quarter of 2023, are presented on this slide.\nFor further information on the reasons for and nature of non-GAAP disclosures by Orthofix and descriptions of the adjustments used to calculate those non-GAAP financial measures, please see the Company's Current Report on Form 8 K filed on August 8, 2023.", "attrs": {}, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 08:05:10.476+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "866526cf-af5e-4bd1-9ade-e68e67b6baed", "parentComponentId": null }, { "bbox": { "h": 0.013, "w": 0.609, "x": 0.048, "y": 0.96 }, "kind": "source-note", "text": "(1) SeaSpine gross profit reflects reclassifications of certain expenses to conform to Orthofix presentation. ©2023 Orthofix Medical Inc. All rights reserved | 20", "attrs": {}, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 08:05:10.476+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "5a33c92e-d516-4435-99b0-9abb5436e159", "parentComponentId": null }, { "bbox": { "h": 0.449, "w": 0.46, "x": 0.048, "y": 0.153 }, "kind": "table", "text": "Adjusted EBITDA\n($ in millions)\nQ2 22 (Proforma)\nOFIX SPNE NewCo\nLoss before income taxes $ 3.042 $ (15.094) $ (12.052)\nNon-GAAP adjustments\nInterest expense, net $ 0.407 $ 0.293 $ 0.700\nDepreciation and intangible asset amortization expense 6.512 4.295 10.807\nShare-based compensation expense 4.460 3.701 8.161\nForeign exchange impact and other non-operating expense/(gain) 2.991 0.266 3.257\nSeaSpine merger-related expenses -\nStrategic investments 1.824 (0.010) 1.814\nAcquisition-related fair value adjustments (10.714) 0.083 (10.631)\nLoss on investment securities 0.123 0.123\nLegal judgments/settlements 0.148 0.148\nMedical device regulation 2.246 2.246\nBusiness interruption - 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nature of non-GAAP disclosures by Orthofix and descriptions of the adjustments used to calculate non-GAAP financial measures, please see the Company's Current Report on Form 8 K filed on August 8, 2023.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 08:05:07.339+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "31da11a7-9e26-47d5-bd22-3e990227ac10", "parentComponentId": null }, { "bbox": { "h": 0.025, "w": 0.928, "x": 0.047, "y": 0.852 }, "kind": "paragraph", "text": "A reconciliation of proforma Adjusted EBITDA for each quarter of 2022 to the nearest GAAP financial measure for each of SeaSpine and Orthofix is presented on this slide.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 08:05:07.339+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "76ca1ffd-2c5a-4d7c-80d1-fce51b29959c", "parentComponentId": null }, { "bbox": { "h": 0.089, "w": 0.928, "x": 0.047, "y": 0.749 }, "kind": "paragraph", "text": "On the Company's Q2 2023 earnings call held on August 8, 2023, Orthofix management presented Proforma Adjusted EBITDA and Adjusted Proforma Gross Margin, both of which are non-GAAP financial measures, for the 2nd quarter of 2022. Those proforma non-GAAP financial measures are intended to report the financial impact of the merger with SeaSpine on Adjusted EBITDA and Adjusted Gross Margin as if the merger had occurred on January 1, 2022, in order to assist investors with comparing those proforma results to those same non-GAAP financial measures as reported for the 2nd quarter of 2023.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 08:05:07.339+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "aa3d1719-4f30-466f-8b0d-43103d5e9b27", "parentComponentId": null }, { "bbox": { "h": 0.012, "w": 0.299, "x": 0.047, "y": 0.957 }, "kind": "source-note", "text": "©2023 Orthofix Medical Inc. All rights reserved | 21", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. 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Those proforma non-GAAP financial measures are intended to report the financial impact of the merger with SeaSpine on Adjusted EBITDA and Adjusted Gross Margin as if the merger had occurred on January 1, 2022, in order to assist investors with comparing those proforma results to those same non-GAAP financial measures as reported for the 2nd quarter of 2023.", "attrs": {}, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 08:05:07.8+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e37b6fdd-5322-4c4f-a7e6-c55f434bbd9f", "parentComponentId": null }, { "bbox": { "h": 0.013, "w": 0.202, "x": 0.38, "y": 0.953 }, "kind": "source-note", "text": "©2023 Orthofix Medical Inc. All rights reserved | 22", "attrs": {}, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 08:05:07.8+00", "model": "google/gemini-2.5-flash", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "5900173f-71fe-4e26-8f04-d1d0c43e4492", "parentComponentId": null }, { "bbox": { "h": 0.015, "w": 0.65, "x": 0.046, "y": 0.66 }, "kind": "source-note", "text": "(1) SeaSpine gross profit reflects reclassifications of certain expenses to conform to Orthofix presentation.", "attrs": {}, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. 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