#1Corporate Investor Deck May 9, 2023 ORTHOFIX®Ⓡ SeaSpine#2Forward Looking Statements This presentation contains forward looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, relating to our business and financial outlook, which are based on our current beliefs, assumptions, expectations, estimates, forecasts and projections. In some cases, you can identify forward looking statements by terminology such as "may," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "projects," "intends," "predicts," "potential," or "continue" or other comparable terminology. Such forward looking statements include, but are not limited, to, statements relating to: expectations regarding future financial performance in the short- and long-term, including, without limitation, revenue (and the source thereof), expenses (including anticipated spend and savings/synergies), adjusted gross margin, adjusted EBITDA loss, free cash flow burn, compound annual growth rate, liquidity runway, and the Company's ability to generate favorable sales mix of higher gross margin products; expectations regarding investment in inventory and spinal implant sets and regarding product launches and line extensions; availability under the Company's credit facility; the benefits of initiatives, including investments in a direct sales strategy and in product development and enhancements to existing products; planned discontinuation of products; the Company's growth and taking of market share; the Company's ability to lower its manufacturing costs; and the Company's ability to reduce organization complexity and the benefits thereof. Forward-looking statements are not guarantees of our future performance, are based on our current expectations and assumptions regarding our business, the economy and other future conditions, and are subject to risks, uncertainties and changes in circumstances that are difficult to predict, including the risks described in Part 1, Item 1A under the heading Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2022, and in Part II, Item 1A under the heading Risk Factors in our Quarterly Report on Form 10-Q for the quarter ended March 31, 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. This list of risks, uncertainties, and other factors is not complete. We discuss some of these matters more fully, as well as certain risk factors that could affect our business, financial condition, results of operations, and prospects, in reports we file from time to time with the SEC, which are available to read at www.sec.gov. Any or all forward looking statements that we make may turn out to be inaccurate (due to inaccurate assumptions that we make or otherwise), and our actual outcomes and results may differ materially from those expressed in any forward-looking statements. You should not place undue reliance on any forward-looking statements. Further, any forward-looking statement in this presentation speaks only as of the date hereof, unless it is specifically otherwise stated to be made as of a different date. We undertake no obligation to update, and expressly disclaim any duty to update, our forward-looking statements, whether as a result of circumstances or events that arise after the date hereof, new information, or otherwise. Sea Spine ©2023 Orthofix Medical Inc. All rights reserved | 2 ORTHOFIX®#389 Extensive Portfolio Solutions with Complementary Technologies Expanded Distribution Channels & Global Commercial Reach Improved Clinical Outcomes & Economic Value LA Strong Liquidity Position Backed by $300M Credit Facility 슈 Large Addressable Markets with High Growth Opportunities OO Visionary Leadership Team with Deep Sector Experience ©2023 Orthofix Medical Inc. All rights reserved | 3 Investment Highlights Building a Leading Global Spine & Orthopedics Company ORTHOFIX® SeaSpine#4Keith C. Valentine President & Chief Executive Officer Executive Leadership Team Experienced leadership with 250+ years in spine/orthopedics Suzanne Armstrong Chief Human Resources Officer Kevin Kenny President Global Spine John Bostjancic Chief Financial Officer Pat Keran Chief Legal Officer Roberto Donadello Senior Vice President Global Operations Tyler Lipschultz President Global Biologics ©2023 Orthofix Medical Inc. All rights reserved | 4 Kim Elting President Global Orthopedics Beau Standish, PhD, PEng President Global Enabling Technologies Ehab Esmail Senior Vice President, Global Quality, Regulatory & Clinical Affairs Frank Vizesi, PhD Chief Scientific Officer ORTHOFIX®Ⓡ SeaSpine.#5Complementary High Growth Portfolio $7B of Focused High-Growth Market Segments* | 6.1% CAGR Spinal Implants Motion Preservation Spinal Fixation Biologics Cellular Allograft Lyograft Demineralized Bone Matrices Synthetic Bone Grafts Full Continuum of Care G Enabling Technologies Machine-vision 7D FLASH™ Navigation Orthopedics Limb Reconstruction Deformity Correction *SmartTRAK® 2022 2026 U.S. Estimates Focused growth segments include Enabling Technologies, Motion Preservation, Interbody, DBM, LLIF/OLIF, MIS and Long Bone Stimulation ©2023 Orthofix Medical Inc. All rights reserved | 5 Bone Growth Therapies Bone Growth Stimulation Non-Surgical Alternative Regenerative Technology ORTHOFIX® SeaSpine.#6Complex Foot & Ankle Reconstruction TrueLok™ Orthopedics Specialized portfolio of limb reconstruction and deformity correction products that address the most challenging orthopedic conditions Ring Fixation System AHN Ankle Hindfoot NailingTM System G-Beam Fusion Beaming System™ Complex Fracture Management TrueLok™ EVO Ring Fixation System XCaliber™M Hybrid Fixator Galaxy™ Fixation System Adult & Pediatric Limb Reconstruction FitboneⓇ Limb-Lengthening System TL-HEX™ ©2023 Orthofix Medical Inc. All rights reserved | 6 TrueLok Hexapod System JuniOrtho Pediatric Plating System™ Digital Healthcare ⒸO OrthoNext™ Platform System for Preoperative Planning ORTHOFIX® SeaSpine.#7Spinal Implants Comprehensive best-in-class spinal implants offering driving rapid market adoption M6-C™ Cervical Artificial Cervical Disc ConstruxTM Mini PTC Spacer System WaveForm™ C 3D Interbody Sacrest NorthStarⓇ Posterior Cervical Fixation System ShorelineⓇ Anterior Cervical Standalone System Admiral™ Anterior Cervical Plating System Thoracolumbar Fixation Mariner® Deformity Adult Deformity Posterior Fixation System MarinerⓇ Modular Pedicle Screw System Firebird™ NXG Spinal Fixation System Janus™ Fenestrated Screw System ©2023 Orthofix Medical Inc. All rights reserved | 7 Interbodies WaveForm™ 3D Interbody ReefⓇ TO NanoMetaleneⓇ with Reef Topography Ⓡ Explorer® TO Expandable Interbody Forza™ TI Ti Spacer System with Nanovate™ Technology TM Meridian ™M Spacer System ForzaXP™ Expandable Spacer System ORTHOFIX® SeaSpine.#8Cellular Allograft B Trinity Elite™ Opus™ BA Synthetic Biologics Full spectrum of biologic solutions to enhance the fusion process and promote bone repair and growth Opus™ Mg Set TM Mozaik ™M Lyograft Virtuos™ Lyograft Procedural Solutions OsteoBallast® OsteoBallast MT NorthStar™ Facet Fusion Demineralized Bone Fiber OsteoStrandⓇ Plus RAPIDⓇ ©2023 Orthofix Medical Inc. All rights reserved | 8 FiberFuse™ Graft Delivery AGENINGE O-Genesis™ Demineralized Bone Putty TorrentⓇ & Torrent C Accell Evo3® & Evo3Ⓡ DynaGraft® II & OrthoBlast® II Legacy™ Traditional Allograft ORTHOFIX® SeaSpine#9Bone Growth Therapies Safe and effective treatment and non-surgical alternative to overcome bone healing challenges 1 #1 Prescribed bone growth stimulator Bone Healing Therapy PhysioStim™ Bone Growth Therapy 69 We are proud to be the first to offer a free recycling program so patients can properly dispose of their devices after use. TM AccelStim T Bone Healing Therapy FDA PEMF technology approved Since 1986 1,000,000 ©2023 Orthofix Medical Inc. All rights reserved | 9 ร CervicalStim™ Spinal Fusion Therapy Prescribed devices Spine Fusion Therapy SpinalStim™ Spinal Fusion Therapy ORTHOFIX® SeaSpine.#10FLASH™ Navigation with 7D Technology FLASH NAVIGATION Technology with SeaSpine She Machine-vision Navigation System Ⓒ2023 Orthofix Medical Inc. All rights reserved | 10 Enabling Technologies Servicing the full continuum of surgical care ORTHOFIX® SeaSpine#1123% 15% $718M TTM Revenue ■ Bone Growth Therapies ■ Biologics 35% 27% ■ Spinal Implants + Enabling Tech ■ Orthopedics Diversified & Complementary Business with Broad Commercial Reach ~81% U.S. | ~19% OUS Products distributed in ~68 countries ©2023 Orthofix Medical Inc. All rights reserved | 11 ORTHOFIX® SeaSpine.#12Commercial Strategy Framework Geographic Footprint Double digit growth in global commercial reach Focused Distributors Expanded market penetration with increased dedicated distribution Diverse Sales Strategy Cross selling opportunities across direct and distribution- based sales channels BR COMMERCIAL STRATEGY FRAMEWORK ©2023 Orthofix Medical Inc. All rights reserved | 12 5 2 Clinical Relevance Proven track record of procedural excellence, backed by compelling clinical evidence, spanning multiple markets Training and Education Programs Complementary training and education programs to deliver value to surgeons and distributors Continuum of Care Comprehensive product portfolio from pre-operative planning through post surgical ORTHOFIX® SeaSpine.#13Tur Spinal Fixation Industry leading product and procedure launches per year & continued penetration into emerging markets b Orthopedics HSD growth driven by channel expansion and further products launches expanding our leading TrueLokTM and Fitbone™ franchises Key Growth Drivers $ Spinal Implants & Biologics Continue share taking at >5x market growth, from 45+ product launches since 2018 1. Product Utilization Higher product utilization per procedure from more complete portfolio BGT Fracture DD growth driven by the recent AccelStimTM launch, future product launches & increasing channel investments ©2023 Orthofix Medical Inc. All rights reserved | 131 iti Higher Revenue Per Case Increased participation in higher revenue complex and deformity procedures from recent full commercialization of MarinerⓇ Adult Deformity Platform Distributor Partners Onboard additional transformative & more focused distributor partners and Enabling Technologies Growth from recent full commercial launch of MIS module and higher conversion of revenue earnout arrangements ORTHOFIX®Ⓡ SeaSpine.#14Orthofix Q1 2023 Highlights *Constant Currency is calculated by applying foreign currency rates applicable to the comparable, prior-year period to present the current period net sales at comparable rates. Constant currency can be presented for numerous GAAP measures, but is most commonly used by management to analyze net sales without the impact of changes in foreign currency rates. **The reasons for and nature of non-GAAP disclosures by the Company, descriptions of the adjustments used to calculate those non-GAAP financial measures, and reconciliations of those non-GAAP financial measures to the most comparable GAAP financial measure, are provided in the Company's press release issued and Current Report on Form 8-K filed on May 9, 2023. Total Revenue $175.2M 66% Growth YoY at Constant Currency* 12% Pro-forma Growth YoY at Constant Currency** $47.7M BGT 14% Growth YoY ©2023 Orthofix Medical Inc. All rights reserved | 14 Orthopedics Revenue $26.0M $50.0M Cash & Cash Equivalents, 3/31/2023 $51M of current borrowings under credit facility Global Orthopedics Revenue 14% Growth YoY at Constant Currency* Global Spine Revenue $60.9M $40.6M Biologics Spinal Implants & Enabling Technology 13% Pro-forma Growth YoY at Constant Currency** 7% Pro-forma Growth YoY at Constant Currency** $3.2M 71% Adj. EBITDA** Adj. Gross Margin** ORTHOFIX® SeaSpine#152023 Full Year Guidance ** $ $750 - 756M $40 - 45M Adj. EBITDA *Revenue ranges above both represent high-single-digit proforma growth rates over prior year Guidance information is as of May 9, 2023, based on guidance provided by Orthofix leadership on that date. Inclusion of this information in this presentation is not a confirmation or an update of, and should not be construed or otherwise assumed to reflect ay confirmation or update of, that guidance by Orthofix leadership as of any date other than May 9, 2023. Sea Spine ©2023 Orthofix Medical Inc. All rights reserved | 15 Revenue ORTHOFIX®#16IN Meaningful Revenue & Cost Synergies ✓ Est. Revenue Synergies: >$25M Est. Cost Synergies:~$40M* Revenue Risk to Manage: ~$20M** Working Capital & Capex Synergies Merger Highlights 88 Complementary Portfolios #1 Prescribed bone growth stimulator portfolio in the U.S. Broadest advanced DBM portfolio, market leading cellular allograft, and shelf- stable allograft on the market Next generation differentiated artificial cervical disc 'Cost synergies of $40M expected by 2025 with incremental opportunity to reduce stock-based compensation expense "Based on due diligence, including revenue zip code analysis performed by 3rd party ©2023 Orthofix Medical Inc. All rights reserved | 16 Å Broader Commercial Reach ✓ Accelerated adoption of differentiated technologies Sustainable growth & value creation Strengthened U.S. and international sales channels Rapid product innovation driving market-share taking ORTHOFIX® SeaSpine.#1789 Extensive Portfolio Solutions with Complementary Technologies Expanded Distribution Channels & Global Commercial Reach Improved Clinical Outcomes & Economic Value LA Strong Liquidity Position Backed by $300M Credit Facility 슈 Large Addressable Markets with High Growth Opportunities OO Visionary Leadership Team with Deep Sector Experience ©2023 Orthofix Medical Inc. All rights reserved | 17 Investment Highlights Building a Leading Global Spine & Orthopedics Company ORTHOFIX® SeaSpine#18STRONGER TOGETHER THANK YOU ©2023 Orthofix Medical Inc. All rights reserved | 18 ORTHOFIX® Sea Spine#19Appendix ©2023 Orthofix Medical Inc. All rights reserved | 19 ORTHOFIX®Ⓡ SeaSpine#20Pro Forma Non-GAAP Financial Measures On the Company's Q1 2023 earnings call held on May 9, 2023, Orthofix management presented Proforma Adjusted EBITDA Loss and Adjusted Proforma Gross Margin, both of which are non-GAAP financial measures, for the first quarter of 2022. Those proforma non-GAAP financial measures are intended to report the financial impact of the merger with SeaSpine on Adjusted EBITDA (Loss) and Adjusted Gross Margin as if the merger had occurred on January 1, 2022, in order to assist investors with comparing those proforma results to those same non-GAAP financial measures as reported for the first quarter of 2023. A reconciliation of those pro forma non-GAAP financial measures for the first quarter of 2022 to the nearest GAAP financial measure for each of SeaSpine and Orthofix, as well as a comparison to Adjusted EBITDA Loss and Adjusted Gross Margin for Orthofix for the first quarter of 2023, are presented below. For further information on the reasons for and nature of non-GAAP disclosures by Orthofix and descriptions of the adjustments used to calculate those non GAAP financial measures, please see the Company's Current Report on Form 8 K filed on May 9, 2023. Adjusted EBITDA Loss before income taxes Non-GAAP adjustments Interest expense, net Depreciation and intangible asset amortization expense Share-based compensation expense Foreign exchange impact and other non-operating expense/(gain) SeaSpine merger-related expenses Strategic investments ($ in millions) Acquisition-related fair value adjustments Loss on investment securities Legal judgments/settlements Medical device regulation Business interruption - COVID-19 Succession and transition charges Spinal set instrument replacement expense European sales and marketing organization restructuring Total Non-GAAP adjustments Adjusted EBITDA loss Adjusted Gross Margin Total revenue, net Gross profit Add back: ($ in millions) Share-based compensation expense SeaSpine merger-related costs Strategic investments Acquisition-related fair value adjustments Medical device regulation $ $ Q1 22 (Proforma) OFIX SPNE NewCo (4.389) $ (16.832) $ (21.221) 0.375 $ 7.516 4.332 1.242 0.970 (5.500) 0.065 0.193 1.952 0.343 0.010 $11.498 $ 7.109 0.211 $ $ 4.202 2.819 (0.002) 0.025 0.372 0.125 Q1 22 (Proforma) OFIX SPNE NewCo $106.418 $ 51.263 $157.681 $78.100 $28.966 $107.066 (1) 1.018 0.279 8.813 $20.311 (8.019) $ (0.910) 0.078 $ 0.375 11.718 7.151 1.240 1.342 (5.375) 0.065 0.193 1.952 0.343 0.010 1.018 0.279 0.125 0.025 0.125 0.006 0.006 $78.342 $ 29.169 $ 107.511 73.6% 56.9% 68.2% Adjusted gross profit Adjusted gross margin (Adjusted gross profit/Total revenue, net) (1) SeaSpine gross profit reflects reclassifications of certain expenses to conform to Orthofix presentation. 0.289 NewCo Q1 23 Q1 22 Change $ (60.327) $ (21.221) $ (39.106) $ 1.289 $ 12.670 13.020 (0.583) 20.740 0.661 11.636 0.469 3.629 0.375 $ 11.718 7.151 1.240 1.342 (5.375) 0.065 0.193 1.952 43 0.010 1.018 0.279 $63.531 $ 20.311 $ $ 3.204 $ (0.910) $ $110.329 $107.066 $ ©2023 Orthofix Medical Inc. All rights reserved | 20 0.914 0.952 5.869 (1.823) 20.740 NewCo Change Q1 23 Q1 22 $175.204 $ 157.681. $ 17.523 (0.681) 17.011 (0.065) 0.276 1.677 (0.343) (0.010) (1.018) (0.279) 43.220 4.114 3.263 $ 0.471 $ 0.289 $ 0.703 0.181 0.025 11.636 0.125 0.629 0.006 $123.949 $ 107.511 $ 16.438 70.7% 68.2% 11.511 0.623 2.6% 0.182 0.703 0.156 ORTHOFIX® Sea Spine