#1CM Owens &Minor INVESTOR DAY December 6, 2023 Proprietary to Owens & Minor, Inc. | ©2023 Owens & Minor, Inc. Ⓡ#22 Jon Leon Senior Vice President & Corporate Treasurer Owens & Minor Proprietary to Owens & Minor, Inc. AMOwens M&Minor#3Safe Harbor 3 Proprietary to Owens & Minor, Inc. This presentation is intended to be disclosure through methods reasonably designed to provide broad, non-exclusionary distribution to the public in compliance with the SEC's Fair Disclosure Regulation. This presentation contains certain "forward-looking" statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, the statements in this presentation regarding our expectations with respect to our 2023 and future financial performance and our modeling assumptions, our Operating Model Realignment program and other cost-saving initiatives, future indebtedness and growth, and industry trends, as well as other statements related to Owens & Minor Inc.'s (Owens & Minor's or the Company's) expectations regarding the performance of its business and improvement of operational performance. Forward-looking statements involve known and unknown risks and uncertainties that may cause our actual results in future periods to differ materially from those projected or contemplated in the forward-looking statements. Investors should refer to Owens & Minor's Annual Report on Form 10-K for the year ended December 31, 2022, filed with the SEC including the sections captioned "Cautionary Note Regarding Forward-Looking Statements" and "Item 1A. Risk Factors," and subsequent, quarterly reports on Form 10-Q and current reports on Form 8-K filed with or furnished the SEC, for a discussion of certain known risk factors that could cause the company's actual results to differ materially from its current estimates. These filings are available at www.owens-minor.com. Given these risks and uncertainties, Owens & Minor can give no assurance that any forward-looking statements will, in fact, transpire and, therefore, cautions investors not to place undue reliance on them. Owens & Minor specifically disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise. Owens & Minor uses its web site, www.owens-minor.com, as a channel of distribution for material Company information, including news releases, investor presentations and financial information. This information is routinely posted and accessible under the Investor Relations section. Owens M&Minor#44 Use of Non-GAAP Measures Proprietary to Owens & Minor, Inc. This presentation contains financial measures that are not calculated in accordance with U.S. generally accepted accounting principles ("GAAP"). In general, the measures exclude items and charges that (i) management does not believe reflect Owens & Minor's core business and relate more to strategic, multi-year corporate activities; or (ii) relate to activities or actions that may have occurred over multiple or in prior periods without predictable trends. Management uses these non-GAAP financial measures internally to evaluate the Company's performance, evaluate the balance sheet, engage in financial and operational planning and determine incentive compensation. Management provides these non-GAAP financial measures to investors as supplemental metrics to assist readers in assessing the effects of items and events on its financial and operating results and in comparing the Company's performance to that of its competitors. However, the non-GAAP financial measures used by the Company may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies. Although the Company does provide guidance for adjusted EBITDA, adjusted EPS and Free Cash Flow (which are non-GAAP financial measures), it is not able to forecast the most directly comparable measures calculated and presented in accordance with GAAP without unreasonable effort. Certain elements of the composition of the GAAP amounts are not predictable, making it impracticable for the Company to forecast. Such elements include, but are not limited to, restructuring and acquisition charges, which could have a significant and unpredictable impact on our GAAP results. As a result, no GAAP guidance or reconciliation of the Company's adjusted EBITDA guidance, adjusted EPS guidance or Free Cash Flow guidance is provided. The non-GAAP financial measures disclosed by the Company should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and the financial sults calcu ted in accordance with GAAP and reconciliations to those financial statements set forth above should be carefully evaluated. Owens M&Minor#5Agenda Strategy & Vision 2028 Developing Talent & Culture Patient Direct BREAK Products & Healthcare Services Financials & Guidance Q&A Session Concluding Remarks 10 5 ● Proprietary to Owens & Minor, Inc. Ed Pesicka Tammy Gomez Perry Bernocchi Andy Long Alex Bruni All Ed Pesicka Owens M&Minor#66 Proprietary to Owens & Minor, Inc. ● PURPOSE VIDEO ● ● ● MOwens M&Minor#77 Ed Pesicka President & Chief Executive Officer Owens & Minor Proprietary to Owens & Minor, Inc. MOwens M&Minor#88 Today's Critical Takeaways What You Will Hear This Morning Our businesses continue to evolve and we will focus on high-value businesses for maximum return We expect the Patient Direct segment to continue to outpace the market and grow we can be a true leader in home- based care We have a significant opportunity to optimize our P&HS business for an improved margin profile Proprietary to Owens & Minor, Inc. atolili LOOD Cal Our team has developed a multi-year strategic plan to both drive growth and enhance profitability We have a healthy balance sheet that will continue to be strengthened by strong cash flow generation We have an opportunity to deploy capital and invest smarter to drive long- term shareholder returns MOwens M&Minor#99 Owens & Minor Overview Owens & Minor, Inc. (NYSE: OMI) is a Fortune 500 global healthcare solutions company providing essential products and services that support care from the hospital to the home. For over 100 years, Owens & Minor and its affiliated brands, ApriaⓇ, Byram®, and HALYARD*, have helped to make each day better for the patients, providers, and communities we serve. Powered by more than 20,000 teammates worldwide, Owens & Minor delivers comfort and confidence behind the scenes so healthcare stays at the forefront. Owens & Minor exists because every day, everywhere, Life Takes Care™. اللسا ~3M Patients Served in the Home Proprietary to Owens & Minor, Inc. ~400+ Facilities Worldwide Owens CM &Minor 140+ Years of Dedicated Service *Registered Trademark or Trademark of O&M Halyard or its affiliates ~85% of U.S. Population Accessible Through Payor Relationships 4,000+ Healthcare Providers Served MOwens M&Minor#1010 Patient Direct - The Future of Home-based Care ● ● ● ● Over the last five years we built a strong growth platform that's at the center of where healthcare is trending Doubled down on our belief in our Patient Direct business with the addition of Apria Track record of strong growth throughout our path A major player in the future of home-based care Faster recovery ● • Safer Preferred by patients, providers, and payors ● Revenue Proprietary to Owens & Minor, Inc. ($M) $3,000 $2,500 $2,000 $1,500 $1,000 $500 $0 Byram HEALTHCARE 2017 Strong organic growth post-M&A ¹ Proforma figure; Apria acquisition closed in Q1'22 *APRIA Reimagining Patient Care at Home for Improved Quality of Life 2021¹ Patient Direct 2023E Owens M&Minor#1111 Solid Foundation in Product & Healthcare Services Medical Distribution (MD) Historical foundation Very large market • Need to strengthen our competitive position ● ● ● Must better align production costs and product portfolio Status quo not acceptable Well positioned to achieve success Proprietary to Owens & Minor, Inc. @HAITIARS man S THE ⒸHALTARS OHALYARD ⒸHAUSS WEATH 5281865 52828 45 5282845 S A 591825 DEDE BEIGE pu 1 Global Products M Medical Action INDUSTRIES MEDICHOICE HALYARDⓇ Significant Opportunity to Drive Profitability Outsourced Logistics & Services Osight Alerts Overview 311 S QSight PANDACSM SURGITRACKⓇ E JES 20 STM MARCHE w 2 --- O 盘 veltim B 0 03 333 S a Owens M&Minor#1212 Our Recent Strategic Path 2017 Acquired Byram HEALTHCARE Acquired HALYARD 2018 Proprietary to Owens & Minor, Inc. 2019 Ed Pesicka Joined as CEO Pandemic 2020 2021 Deleveraged Balance Sheet Acquired APRIA 2022 Industry Normalization Operating Model Realignment 2023 AMOwens M&Minor#1313 Time to Reflect: Owens & Minor Today 4648 Strengths/Opportunities Strong, stable and leverageable base of Medical Distribution customers across the country Award winning service levels and intense customer focus Took Byram from $450M to over $1.2B, and now with the acquisition of Apria, have a larger platform to leverage Successfully integrated multiple acquisitions with a proven process for success Proprietary to Owens & Minor, Inc. Challenges/Needs Must find ways to deliver products and services at a lower cost across the business while reimagining our geographic footprint Executing on our product expansion opportunities into adjacent categories Capitalize on fragmented and growing home- based care market Ensure our teammates are aligned with our global vision and purpose Owens M&Minor#1414 Vision 2028: Grow, Optimize & Invest 1 2- 3- O ▬▬▬▬▬ odi Confidential & Proprietary to Owens & Minor, Inc. ACCELERATE PD GROWTH Grow base business above market with focus on core Best-in-class digital and technology • Enter adjacent markets with focus on comorbid conditions OPTIMIZE P&HS • Leverage scale of P&HS channel profitably Rapidly grow O&M brand product portfolio Expand into adjacent channels and markets INVEST TO DRIVE VALUE Maintain disciplined approach to allocating capital • Support expansion into adjacencies Strengthen balance sheet and use to support growth ● ● AMOwens M&Minor#1515 Operating Model Realignment - Our Four Pillars 1 3 Sourcing and demand management Network rationalization and operational excellence Proprietary to Owens & Minor, Inc. 2 4 Designing our organizational structure Commercial excellence and product profitability Life of Program $250-400M Targeted Working Capital Improvement On Path by End of 2025 $200M Run Rate Exiting 2023 $100M Run Rate On Track in 2023 $30M Savings MOwens M&Minor#1616 Vision 2028: Grow, Optimize, & Invest Patient Direct Strong brand recognition with a national footprint and local presence + Proven model is expected to continue to drive organic growth + Top positions across core disease categories and numerous opportunities to enter adjacencies + Focus investments to drive organic growth and complete acquisitions that can accelerate growth Proprietary to Owens & Minor, Inc. Products & Healthcare Services Continue to invest in highest return opportunities + Committed to optimizing cost structure + Grow our product portfolio to accelerate profitability + Expand into adjacent markets Owens M&Minor#1717 Our Long-Term Financial Targets to 2028 >$12B Annual Revenue Proprietary to Owens & Minor, Inc. >$750M Adj EBITDA¹ >20% Adj EPS¹ CAGR to $3.50+ >$1.3B Cumulative FCF¹ (1) Represents a Non-GAAP financial metric. For additional information on Non-GAAP reconciliations see "Use of Non-GAAP Measures." Reconciliations for Non-GAAP measures are presented in the Appendix. MOwens M&Minor#1818 Unlocking Our Growth Potential and Capturing Opportunities 11 2 34 Patient Direct Our Patient Direct business is a high margin, growth engine and we intend to expand our position as a market leader in the home- based care space Proprietary to Owens & Minor, Inc. Products & Healthcare Services We expect to transform and strengthen our P&HS segment, focused on leveraging our scale and growing our branded product portfolio 2028: Grow, Optimize, & Invest Balance Sheet We plan to maintain a healthy balance sheet, driven by a robust free cash flow profile that supports and routinely invests in organic and inorganic growth opportunities Owens M&Minor#19The Individual Elements Form a Larger Picture 19 Mission is what we do Proprietary to Owens & Minor, Inc. Vision is where we're going What we do each day to climb the mountain The next big mountain we're going to summit Strategy links Mission & Vision The path we will take to achieve our Vision 0 Purpose is why we exist The timeless north star that guides us Values are who we are at our best Integrity Development Excellence Accountability Listening MOwens M&Minor#2020 Tammy Gomez Executive Vice President & Chief Human Resources Officer Owens & Minor Proprietary to Owens & Minor, Inc. Owens M&Minor#2121 Vision 2028: Grow, Optimize & Invest 1 2- 3- Proprietary to Owens & Minor, Inc. O ▬▬▬▬▬ odi ACCELERATE PD GROWTH Grow base business above market with focus on core Best-in-class digital and technology • Enter adjacent markets with focus on comorbid conditions OPTIMIZE P&HS • Leverage scale of P&HS channel profitably Rapidly grow O&M brand product portfolio Expand into adjacent channels and markets INVEST TO DRIVE VALUE Maintain disciplined approach to allocating capital • Support expansion into adjacencies Strengthen balance sheet and use to support growth ● ● AMOwens M&Minor#2222 Our Teammates Are Our Core ● ● ● ● 22,000 Global Teammates 40% Female Teammates in Global Management Roles 27% Ethnically Diverse Teammates in U.S. Management Roles 45% of Teammates with 5+ Years of Service Diverse Board of Directors Proprietary to Owens & Minor, Inc. MOwens M&Minor#23Companies with Purpose Have Tremendous Impact Employees can create huge savings for their organizations when they find meaning in their work. $630B 23 3x Voluntary turnover costs exceeded this figure in 2020 Fulfilled employees are 3x more likely to stay with the same company for a decade Work Institute: 2020 Retention Report (2020) Imperative, Workforce Purpose Index (2019) Proprietary to Owens & Minor, Inc. 35% 30% 25% 20% 15% 10% 5% 0% Compared to low-purpose ones, high-purpose companies show... .... 8% 6% 14% Operating profitability Revenue growth Returns on capital 9% Residual cash earning margin 35% Annualized total shareholder return Fortuna Advisors: A deeper look at the return on Purpose (2021) Purposeful organizations are more likely to find long-term success in transformations. Success in a Transformation (Grouped by Purpose and Performance) High Purpose High Performance High Purpose Low Performance Low Purpose Low Performance Low Purpose High Performance 56% 26% 12% BCG: The Head, Hands, and Heart of Transformation (2018) MOwens M&Minor#2424 Proprietary to Owens & Minor, Inc. • ● TEAMMATE VIDEO . ● MOwens M&Minor#2525 Our Timeless Purpose and Timely Vision Proprietary to Owens & Minor, Inc. PURPOSE LIFE TAKES CARE G VISION Be the unstoppable and dynamic leader that connects patients and providers to trusted healthcare products and solutions MOwens M&Minor#2626 Our Vision PLAY TO WIN Be the unstoppable and dynamic leader that connects patients and providers to trusted healthcare products and solutions Anticipate customer needs to lead in the marketplace W S Proprietary to Owens & Minor, Inc. ACT LIKE OWNERS Encourage and take smart risks FLY NIGH 30 lama wish kid! ADVANCE WITH SPEED Eliminate unnecessary red tape 26 Mandy Tihter REWARD IMPACT Celebrate wins for company, customer and teams MOwens M&Minor#2727 Our Business Elements Form A Bigger Picture Together LIFE TAKES CARE BE THE UNSTOPPABLE AND DYNAMIC LEADER WHO CONNECTS PATIENTS AND PROVIDERS TO TRUSTED HEALTHCARE PRODUCTS AND SOLUTIONS EMPOWERING OUR CUSTOMERS Proprietary to Owens & Minor, Inc. TO ADVANCE HEALTHCARE INTEGRITY DEVELOPMENT | EXCELLENCE | ACCOUNTABILITY LISTENING | GROWTH 2028 STRATEGY TALENT EXCELLENCE PURPOSE Why we exist VISION Where we are headed MISSION What we do VALUES Who we are at our best STRATEGIC PLAN How we achieve our Vision KPI PERFORMANCE MGMT. How we track our progress MOwens M&Minor#2828 Operating Model Realignment We are investing in our teammates' future for our future Raising the Bar Proprietary to Owens & Minor, Inc. Adapting to Market & Workforce Trends Identify Gaps Expand Automation Consolidate Roles Upgrading Talent Where Needed Training Programs to Build Skillsets Recognizing Talent and Promoting from Within Understand Unique Needs for Each Segment Retain & Invest in Our Team AMOwens M&Minor#2929 Building a Great Place to Work For All How We're Raising the Bar 1. Hiring Focus 2. War for Talent 3. The Best People Proprietary to Owens & Minor, Inc. External Partnerships & Networks Diverse Hiring Practices Owens &Minor® CM Community Engagement & Partnerships Supplier Diversity Initiatives MOwens M&Minor#30MAR 30 Unleashing Our Team to Win Drive profitable growth through 2028 PLAY TO WIN AIRSA Proprietary to Owens & Minor, Inc. ACT LIKE OWNERS UKFES BACKS BOUT Diets 10! Cure Diabletes JDRF 12 ADVANCE WITH SPEED 3 ICAG REWARD IMPACT THA WIRELEN K Owens M&Minor ANGERS CS 11.#3131 Perry Bernocchi Executive Vice President & Chief Executive Officer Owens & Minor Patient Direct Proprietary to Owens & Minor, Inc. MOwens M&Minor#3232 Vision 2028: Grow, Optimize & Invest 1 2- 3- O ▬▬▬▬▬ odi Confidential & Proprietary to Owens & Minor, Inc. ACCELERATE PD GROWTH Grow base business above market with focus on core Best-in-class digital and technology • Enter adjacent markets with focus on comorbid conditions OPTIMIZE P&HS • Leverage scale of P&HS channel profitably Rapidly grow O&M brand product portfolio Expand into adjacent channels and markets INVEST TO DRIVE VALUE Maintain disciplined approach to allocating capital • Support expansion into adjacencies Strengthen balance sheet and use to support growth ● ● AMOwens M&Minor#3333 Vision 2028: Grow, Optimize & Invest Confidential & Proprietary to Owens & Minor, Inc. ACCELERATE PD GROWTH Grow base business above market with focus on core Best-in-class digital and technology Enter adjacent markets with focus on comorbid conditions MOwens M&Minor#34Macro Trends in Home-based Care in Our Favor 34 Byram and Apria compete in the DME sub-segment of a 65M+ Medicare beneficiaries ~$70B Market with Growth driven by aging US population and increasing volume of patients living with chronic diseases with 8% Growth rate 6% CAGR growth outlook Proprietary to Owens & Minor, Inc. with 50% Enrolled in Medicare Advantage HA III Growing demand for home-based care Increasing demand from payors & providers for value-based care models Evolving sites of demand for medical supplies Shifts in Healthcare System are Changing Where Care is Provided Note: In 2023 50% of Medicare population was enrolled in a Medicare Advantage Plan Sources: Medicare.gov; kff.org Owens M&Minor#3535 Trends of Home-based Care 1 2 3 Benefits of Home-based Care Allows patients to receive treatment of chronic illnesses in their home 4 Growing demand for treatment of chronic illnesses Greater patient independence and improved outcomes Can treat more complex healthcare needs in a preferred home setting Technology and product advancement allow for additional chronic conditions to be treated at home Proprietary to Owens & Minor, Inc. 108 Our Core Product Areas Diabetes Respiratory modela NPWT wan Wound Care Ostomy 2004 Other DME www Sleep RUSCH w S DE E 83 O Urology MOwens M&Minor#36+ 36 The Winning Combination of Apria & Byram Byram HEALTHCARE APRIAⓇ Organic Growth PATIENT DIRECT A Leading Platform in the Home-based Care Market Proprietary to Owens & Minor, Inc. What did we achieve? ✓Broadened portfolio ✓ Expanded presence in higher- growth and higher-margin categories ✓ Increased attractiveness to payor panels, providers, and patients ✓Growth within highly fragmented marketplace ✓ Accretive on key financial metrics Revenue ($B) $1.8 8% CAGR $2.5 2019 Pro Forma¹ Q3 '23 TTM Segment Operating Income ($M) $122 18% CAGR 2019 Pro Forma¹ (1) Pro Forma 2019 Segment Operating Income is calculated from Apria Inc.'s Form 10-K plus Byram's segment operating income for the period. TTM : Trailing 12 months actuals $235 Q3 '23 TTM Owens M&Minor#3737 Market Leader in Home-based Care $2.6B Annual revenue Revenue by Disease State Other Urology • 4% Wound care. Ostomy ● 7% Respiratory Proprietary to Owens & Minor, Inc. 6% ● 17% ● ~3M Active patients K. 11% 29% 26% 290M Covered lives • Diabetes • Sleep Branded manufacturers ● ● 1200+ ● 300 Sites in U.S. Leading position in key categories 8% pro-forma organic CAGR from 2019-2023 Diabetes category is primarily comprised of Type 1 and Type 2 insulin-dependent patients Best in class revenue cycle AMOwens M&Minor#38Market Leader in Home-based Care 38 $2.6B Annual revenue Share of Active Patients by Disease State Other Incontinence/Urology Ostomy • 5% ● 21% ● 7% Wound care Proprietary to Owens & Minor, Inc. ~3M Active patients 11% 11% Diabetes. 12% 290M Covered lives ● 34% Sleep Respiratory 1200+ Branded manufacturers 80% 300 Sites in U.S. of annual revenue is recurring revenue from existing patient base AMOwens M&Minor#39Market Leader in Home-based Care 39 Commercial. $2.6B Annual revenue PD Payor Mix 80% Proprietary to Owens & Minor, Inc. 18% ~3M Active patients Medicare 2% ● • Medicaid # 290M Covered lives PD partners with payors covering 290M Lives 1200+ Branded manufacturers Rated by Verywell Health BEST OVERALL DIABETIC SUPPLY COMPANY Byram 2023120221 2021 2020 ● ● ● 300 Sites in U.S. Access to ~85% of U.S. population Growing Medicare Advantage population Majority of payor partnerships are evergreen Rated Best Overall Diabetes Supplier 2020-2023 Net Promoter Scores of 2-3x healthcare benchmarks MOwens M&Minor#40Market Leader in Home-based Care $2.6B 40 Annual revenue speCtra medela Coloplast Dexcom elvie ~3M Active patients Abbott willow Proprietary to Owens & Minor, Inc. convatec forever caring 290M Covered lives HALYARD *smith&nephew First Quality. Hollister DermaRite to 1200+ Branded manufacturers ResMed 3M nogen Fisher&Paykel HEALTHCARE PHILIPS 3B Medical, Inc. RESPIRONICS BARD Medtronic T TANDEM WellspectⓇ DIABETES CARE A REAL DIFFERENCE Contracted with High Quality Manufacturers H 300 Sites in U.S. Nestlē HealthScience INVACARE drive DeVilbiss HEALTHCARE Owens M&Minor#4141 Market Leader in Home-based Care $2.6B Annual revenue OR NV Proprietary to Owens & Minor, Inc. MT WY ~3M Active patients ND 50 NE MN 290M Covered lives 1200+ Branded manufacturers 300 Sites in U.S. 300 sites across U.S. National footprint, local presence Sales professionals, customer service, and skilled clinicians in the local community Ability to expand in current footprint and add more locations MOwens M&Minor#4242 Reimagining Patient Care at Home for Improved Quality of Life Our goal is to be the leading, national provider of medical equipment, supplies, and care solutions for people living with chronic conditions at home or transitioning from acute care Proprietary to Owens & Minor, Inc. Our growth focus is the disease states that require products and related services to **... Manage & heal Promote better health outcomes Improve quality of life AMOwens M&Minor#4343 ● Proprietary to Owens & Minor, Inc. PATIENT TESTIMONIAL VIDEO MOwens M&Minor#4444 What Makes Patient Direct a Market Leader Today Proprietary to Owens & Minor, Inc. II " all Competitive Positioning Extensive Portfolio Customer-centric Approach Top 3 position Strong brand and footprint • In-network access to insured population ● ● • Solutions across care journey ● • Strategic alliances with preferred partners • Innovative portfolio • Manufacturer agnostic; focus on patient care Leading service levels Differentiated marketing, sales, and digital ● ● AMOwens M&Minor#4545 Our Ambition is to Grow to $5B Revenue in the Next Five Years ● Byram HEALTHCARE 6 $ Byram Acquisition Acquired 2017 • Leader in diabetes & wound care • Grown organically from $450M to $1.2B Proprietary to Owens & Minor, Inc. APRIA ● $ Apria Acquisition • Acquired 2022 ● • Leaders in sleep & respiratory 275+ branches $2.6B 2023 expected annual revenue Continue Organic Expansion • Invest in base business O Grow Through M&A • Accelerate growth in core categories • Invest in adjacent conditions $5B 2028 annual revenue ambition Our Ambition AMOwens M&Minor#46● ● 46 Three Strategies to Grow Patient Direct 1 Expand Leadership Grow base business above market Focus on core therapies: Diabetes Wound Care - Sleep - Respiratory Proprietary to Owens & Minor, Inc. ● ● 2 Leverage Technology Develop best-in-class digital capabilities Support growth, maximize patient outcomes, and provide value-based solutions ● ● 3 5° Enter Adjacent Markets Leverage footprint, commercial team and competencies Focused on co-morbidities and core disease progression MOwens &Minor#471 47 Base Business Poised to Continue to Outgrow Market 和 Expand Market Leadership Position Proprietary to Owens & Minor, Inc. ● ● ● ● ● Commercial Excellence Large Patient Populations Customer Experience Expand Strategic Alliances Lower Cost to Serve 79005 25 MOwens M&Minor#482 Develop Best-in-class Digital Capabilities 48 L At Leverage Digital Capabilities & Technology Proprietary to Owens & Minor, Inc. ● ● Patient Management Platform Customer Data Warehouse Re-platform mybyram, Apria Direct Innovative Digital Marketing ERP & CRM Owens M&Minor#492 Spotlight | Using Technology to Rethink Patient Journey Care Management - Intervention • Remote Patient Monitoring Optimize Patient Outcomes Forecasting demand ● ● ● 49 Provider Proprietary to Owens & Minor, Inc. Owens ¡ &Minor™ Patient Direct PMP Supplier Patient + Payor • Common Platform for Data Collection Adherence to Treatment Patient Education Develop Evidence for Value- Based Care ● ● Patient Management Platform (PMP): An agnostic platform that allows patient data and information to flow in and out while providing tools and capability for care providers to manage patients ● Owens r#503 Significant Growth Opportunity in New Channels & Markets 50 Enter Adjacent Markets Proprietary to Owens & Minor, Inc. ● ● ● ● Orthotics & Prosthetics Complex Rehab Home Dialysis Heart Disease CHF & RPM WCD AMOwens M&Minor#513 51 Potential Adjacent Market Opportunities Four potential adjacent market opportunities to help PD reach $5B+ in revenue 6 in 10 American adults have at least one chronic condition 4 in 10 American adults have multiple chronic conditions Proprietary to Owens & Minor, Inc. Closer to core Further from core Adjacency Orthotics and Prosthetics Complex Rehab Therapy Home Dialysis Congestive Heart Failure and RPM ● ● ● ● Rationale ● $2B market size Comorbidities with both diabetes & wound care $7B market size • Last mile partnership $2B market size High barriers to entry $6B market size Comorbidities with diabetes, COPD, & OSA Note: All market sizes shown are US-only estimates as of 2022. Sources: CDC; Future Market Insights; TechNavio; Allied Market Research; Grand View Research; Arizton; BCG market analysis MOwens M&Minor#5252 We Will Continue to Invest to Support our Growth Ambition $5B 2028 annual revenue ambition $ Byram HEALTHCARE $1.8B 2019 proforma annual revenue¹ Proprietary to Owens & Minor, Inc. APRIA $2.6B 2023 expected annual revenue $3.7B 2028 organic only annual (1) Pro Forma: Includes Apria results pre-acquisition revenue ambition Continue organic expansion O O OF Grow through M&A Our ambition MOwens M&Minor#5353 We Will Continue to Invest to Support our Growth Ambition $ (3) + ***** Compounding growth rate with recurring revenue stream National footprint with a local presence Best-in-class commercial and marketing excellence Mature and scalable platform Continue to invest in talent Proprietary to Owens & Minor, Inc. MOwens M&Minor#54BREAK •#5555 Proprietary to Owens & Minor, Inc. MED DISTRIBUTION VIDEO MOwens M&Minor#5656 Andy Long Executive Vice President & Chief Executive Officer Owens & Minor Products & Healthcare Services Proprietary to Owens & Minor, Inc. MOwens M&Minor#5757 Vision 2028: Grow, Optimize & Invest 1 2- 3- O ▬▬▬▬▬ odi Confidential & Proprietary to Owens & Minor, Inc. ACCELERATE PD GROWTH Grow base business above market with focus on core Best-in-class digital and technology • Enter adjacent markets with focus on comorbid conditions OPTIMIZE P&HS • Leverage scale of P&HS channel profitably Rapidly grow O&M brand product portfolio Expand into adjacent channels and markets INVEST TO DRIVE VALUE Maintain disciplined approach to allocating capital • Support expansion into adjacencies Strengthen balance sheet and use to support growth ● ● AMOwens M&Minor#5858 Vision 2028: Grow, Optimize & Invest Confidential & Proprietary to Owens & Minor, Inc. OPTIMIZE P&HS Leverage scale of P&HS channel profitably Rapidly grow O&M brand product portfolio Expand into adjacent channels and markets MOwens M&Minor#5959 P&HS Provides Healthcare Products and Services In Acute Care We serve customers across acute and alternate care sites with comprehensive offerings Proprietary to Owens & Minor, Inc. II Medical Distribution (MD) Products Healthcare Services and Logistics > > • Distribution of medical products to primarily acute care hospitals through network of distribution centers ● • Manufacturing and sourcing of protective products and custom kits and trays - both branded and private label ● ● ● ● Sales to MD, other healthcare distributors, direct-to- healthcare customers, and global retailers Technology-related services for acute care settings Consulting and outsourcing services (e.g., physical inventory counts) Storage and shipping of medical/surgical products for hospitals and manufacturers MOwens M&Minor#6060 We Have Well-regarded, Market-leading Brands & Services Offerings Servicing customers across acute and alternate care sites with these offerings Products Surgical & Medical Products HALYARD MEDICHOICEⓇ Proprietary to Owens & Minor, Inc. Procedure Kits & Trays M Medical Action INDUSTRIES INC.Ⓡ HALYARD ArcRoyal AN OWENS & MINOR COMPANY Distribution & Logistics eM Owens M&Minor Healthcare Services Inventory Management Technology QSight PANDAC *Registered Trademark or Trademark of O&M Halyard or its affiliates. SM Perioperative Supply Chain Management SURGITRACKⓇ MOwens M&Minor#61Our Business Has Faced a Highly Dynamic Market Since 2019 61 3 Today | Our strategy to grow profitably: → Leverage P&HS scale profitably + Grow O&M brand product portfolio xpand into adjacent channels and markets + 1 2020 | Growth accelerated during COVID pandemic due to: + High demand for PPE O&M rising to the challenge by ramping up production and supply chain capabilities Proprietary to Owens & Minor, Inc. 灣 2 2x Profitability Target Post-pandemic | Our business faced several challenges: Customer excess supply - Pressure from top competitors on distribution pricing Tighter labor market and inflation Creating pressure on IDN profitability MOwens M&Minor#62● ● ● 62 Our Three Strategies to Improve Our Competitive Advantage and Efficiencies Leverage Scale of P&HS Profitably Transitioning to a product-driven distribution business 2 Driving operating efficiencies to be low-cost in commoditized areas Investing where the customer values differentiation Evaluating our network footprint Proprietary to Owens & Minor, Inc. ● ● ● Rapidly Grow O&M Brand Product Portfolio Creating dedicated teams to focus on portfolio expansion Expanding sourcing infrastructure Enhancing brand strategy 36 Expand into Adjacent Channels and Markets ● ● ● Identify markets that can be served with our portfolio Evaluate market attractiveness based on size and growth rate Margin accretive Owens TV&Minor#631 Leveraging Scale of P&HS Profitably 63 From Multiple procurement teams Complex offerings to customers $ Prioritization regardless of value Legacy footprint Proprietary to Owens & Minor, Inc. V To One team with consolidated responsibility Standardized offerings that focus on delivering value Differentiated capabilities that command a premium market position End-to-end value chain evaluation for our future business MOwens M&Minor#641 64 Spotlight | Changes In Our Operations Have Already Hit the Bottom Line Centralize Procurement Procurement Savings • Negotiated lower rates for raw and indirect spend Streamlined sourcing of new products • Launched new technology to manage spend Proprietary to Owens & Minor, Inc. Deliver Value Lean Efficiencies • Implemented across manufacturing, distribution, & kitting Standardized metrics & new tracking software • Instituted integrated business planning Differentiate Capabilities Technology • Utilizing Al to improve forecasting and inventory management • DC automation investment roll-out in '24 • QSight® technology: managing customer's inventory lifecycle Establish End-to-end Value Chain Working Capital Improvements • Plan, source, make, & deliver activities under "one roof" Optimizing pricing & inventory management Generated operating cash flow to pay down debt & reinvest Owens TV&Minor#652 65 Spotlight | Growing Our Product Portfolio to Build Competitive Advantage ● Infection prevention/PPE Wound care • Sterilization Surgical accessories Apparel ● ● Current Categories ● • Temperature management • Incontinence • Skin prep Proprietary to Owens & Minor, Inc. . Critical care • Electromedical Endoscopy ● Future Category Expansion • ENT ● • Enteral ● ● Gastroenterology Neurosurgery • OB/GYN • Anesthesia • Orthopedics • Radiology • Specimen collection ● Surgical instruments Urology Body fluid management Cardiology ● ● ● ● • Lab • Respiratory Not exhaustive CM Owens M&Minor#662 66 Spotlight | Growing Our Product Portfolio Expanding into New Categories 90% Of first wave expansion (2024) is coming from new categories FROM Passive, supplier-centric product management Proprietary to Owens & Minor, Inc. Increasing Pace of Product Launches 4-5x TO Number of proprietary SKUs expected to launch in 2024 vs. recent average Active, multi-million-dollar investment in customer-centric category management Owens#673 67 We Have Significant Growth Opportunity in New Channels & Markets Identify Adjacent Markets ● Ambulatory surgical centers (ASCs) • Clean rooms ● • Consumer • Labs Proprietary to Owens & Minor, Inc. Expand Presence in Operating Room • Portfolio expansion to fill product gaps Custom procedure trays Enhanced services . Clinical education programs and assessments ● MOwens M&Minor#68Realizing These Objectives Has Required Changes In Our Business Organization Structure Structure teams to align with business objectives 68 Proprietary to Owens & Minor, Inc. Talent Development Develop high performers and hire top talent Ways of Working Streamline, empower and drive accountability MOwens M&Minor#6969 We Are Committed to Delivering Value to Our Customers and Stakeholders Improve P&HS Profitability Through Leverage scale of P&HS to achieve operating efficiency 1 2 Rapidly expand O&M product portfolio 3 4 5 Enter adjacent non-acute markets Expand presence in the Operating Room Investment in talent Execution of This Strategy is Expected to Double Our Profitability by End of 2028 Proprietary to Owens & Minor, Inc. Owens M&Minor#7070 Alex Bruni Executive Vice President & Chief Financial Officer Owens & Minor Proprietary to Owens & Minor, Inc. MOwens M&Minor#7171 Vision 2028: Grow, Optimize & Invest 1 2- 3- O ▬▬▬▬▬ odi Confidential & Proprietary to Owens & Minor, Inc. ACCELERATE PD GROWTH Grow base business above market with focus on core Best-in-class digital and technology • Enter adjacent markets with focus on comorbid conditions OPTIMIZE P&HS • Leverage scale of P&HS channel profitably Rapidly grow O&M brand product portfolio Expand into adjacent channels and markets INVEST TO DRIVE VALUE Maintain disciplined approach to allocating capital • Support expansion into adjacencies Strengthen balance sheet and use to support growth ● ● AMOwens M&Minor#7272 Vision 2028: Grow, Optimize & Invest oon Confidential & Proprietary to Owens & Minor, Inc. INVEST TO DRIVE VALUE Maintain disciplined approach to allocating capital Support expansion into adjacencies Strengthen balance sheet and use to support growth MOwens M&Minor#7373 Where We Were ... and Where We Are Today ● ● ● ● 5 years ago... Service issues causing customer losses Significant revenue and Adjusted EBITDA decline in legacy business Challenges with cash flow and cash balance Unsustainable debt levels Downgraded to as low as CCC+ rating Net leverage as high as ~7x Proprietary to Owens & Minor, Inc. ● ● ● ● ● Today... Delivering on 2023 commitments. Retaining and winning new business Returned to normal business trajectory Improving Adjusted EBITDA Higher margin Patient Direct business now accounts for 80% of Adjusted EBITDA Generated $600M of operating cash flow YTD Reduced net debt by $500M YTD Net leverage ratio below 4x Reconciliations for Non-GAAP measures are presented in the Appendix MOwens M&Minor#7474 Operating Model Realignment Optimizing profitability, accelerating growth, and generating cash to invest ● ● ● OMR goals on track Meet or exceed $30M savings target for 2023 Exit 2023 with a $100M run rate Generating cash to reinvest in the future On a path to $200M run rate by the end of 2025 Expect to exceed $250 - $400M working capital improvement over the life of the program Proprietary to Owens & Minor, Inc. Workstreams continue 1. Org Design 2. Sourcing 3. Network & Operations 4. Commercial Delivering on Goals with Clear Line of Sight to Savings Owens M&Minor#7575 Reinvest to Drive Organic Growth Invest in our people, technology, and proprietary product portfolio Drive Revenue Growth and Expand Product Offerings Proprietary to Owens & Minor, Inc. The Best People Expand in Adjacencies Technology to Improve Patient, Provider, & Payor Experience MOwens M&Minor#7676 Reinvestments and Execution Sustain Topline Organic Growth Patient Direct driving majority of targeted revenue growth $9.2 2019 Proprietary to Owens & Minor, Inc. $8.5 2020 $9.8 2021 $10.0 2022 Revenue ($B) $10.3- $10.4 2023 Guidance >$12B Revenue Target in 2028 2023 Guidance = Guidance provided on November 3rd, 2023 H $12.0B+ 2028 Target Owens M&Minor#7777 2023 is the Post-pandemic Earnings Inflection Point Adjusted EPS growth driven by operating income margin expansion in both segments $0.62 2019 Proprietary to Owens & Minor, Inc. $2.26 2020 $4.10 2021 $2.42 2022 Adjusted EPS $1.30 - $1.40 2023 Guidance H Expect >20% CAGR on Adjusted EPS Through 2028 2023 Guidance = Guidance provided on November 3rd, 2023 Reconciliations for Non-GAAP measures are presented in the appendix $3.50+ 2028 Target Owens M&Minor#7878 Strong Free Cash Flow Generation Driven by strong operating profit growth and disciplined approach to working capital and CapEx 7 2017 52 2018 114 Proprietary to Owens & Minor, Inc. 2019 280 2020 74 2021 207 2022 2023 Estimate FCF¹ ($M) H $400M+ 2028 Target Cumulative FCF of $1.3B '24-'28 Ample Cash Flow for Reinvestment and Potential Strategic Initiatives² (1) Free cash Flow (FCF) is defined as cash provided by operating activities less net capex. Refer to the appendix for additional information. (2) Free cash flow is expected to be used for certain non-discretionary expenditures, as well as reinvestment and potential strategic alternatives. Reconciliations for Non-GAAP measures are presented in the appendix Owens M&Minor#7979 Continued De-levering of the Balance Sheet Reducing leverage to 2.0x-3.0x target enhances financial and strategic flexibility 7.0x 6.0x 5.0x 4.0x 3.0x 2.0x 1.0x 0.0x 2019 2020 Proprietary to Owens & Minor, Inc. 2021 - 2022 Net Leverage 2023 Estimate Reconciliations for Non-GAAP measures are presented in the appendix 00 Capital Deployment Optionality Grows as Leverage Comes Down 3.0x 2.0x 2028 Target Owens M&Minor#8080 Disciplined Capital Allocation Strategy With leverage within or below target range, three priorities outlined below 1 Organic Reinvestment Invest across all business lines for the highest possible return 2 Proprietary to Owens & Minor, Inc. M&A Drive disciplined expansion and scale 3 Return Excess Capital to Investors Evaluate opportunistic share buybacks Proven Track Record of Success in Acquisition Identification and Integration Owens M&Minor#8181 Opportunistic M&A Drives scale, operating leverage, and expansion into adjacent conditions and applications Our Approach Focus on Patient Direct Disciplined Target Identification & Diligence Optimal Profit Growth & Integration Fit Profile Proprietary to Owens & Minor, Inc. Three Target Areas: 1. Tuck-in acquisition in underpenetrated areas 2. Moderately-sized to drive scale and market share gains 3. Large Scale to strengthen leadership position in home-based care market MOwens M&Minor#8282 Our Long-term Financial Targets to 2028 >$12B Annual Revenue Proprietary to Owens & Minor, Inc. >$750M Adj EBITDA¹ >20% Adj EPS¹ CAGR to $3.50+ >$1.3B Cumulative FCF¹ (1) Represents a Non-GAAP financial metric. For additional information on Non-GAAP reconciliations see "Use of Non-GAAP Measures." Reconciliations for Non-GAAP measures are presented in the appendix. MOwens M&Minor#8383 Ed Pesicka President & Chief Executive Officer Owens & Minor Proprietary to Owens & Minor, Inc. MOwens M&Minor#8484 Unlocking Our Growth Potential and Capturing Opportunities 11 2 34 Patient Direct Our Patient Direct business is a high margin, growth engine and we intend to expand our position as a market leader in the home- based care space Proprietary to Owens & Minor, Inc. Products & Healthcare Services We expect to transform and strengthen our P&HS segment, focused on leveraging our scale and growing our branded product portfolio 2028: Grow, Optimize, & Invest Balance Sheet We plan to maintain a healthy balance sheet, driven by a robust free cash flow profile that supports and routinely invests in organic and inorganic growth opportunities Owens M&Minor#85Q&A#8686 Unlocking Our Growth Potential and Capturing Opportunities 11 2 34 Patient Direct Our Patient Direct business is a high margin, growth engine and we intend to expand our position as a market leader in the home- based care space Proprietary to Owens & Minor, Inc. Products & Healthcare Services We expect to transform and strengthen our P&HS segment, focused on leveraging our scale and growing our branded product portfolio 2028: Grow, Optimize, & Invest Balance Sheet We plan to maintain a healthy balance sheet, driven by a robust free cash flow profile that supports and routinely invests in organic and inorganic growth opportunities Owens M&Minor#87CM LIFE TAKES CARE Thank You Owens M&Minor Proprietary to Owens & Minor, Inc. | C2023 Owens & Minor, Inc.#88APPENDIX#8989 2028 Modeling Assumptions Revenue Target Adj. Operating Income Target Adj. EBITDA Target Adj. EPS Target Tax Assumption Leverage Target CapEx Assumption Share Count Assumption Other Assumptions Proprietary to Owens & Minor, Inc. Total Company $12B+ 10%+ CAGR >$750M Annually by 2028 $3.50+ (>20% CAGR) Adjusted effective tax rate of 27-28% 2.0x - 3.0x ~2% of Revenue 83.5M in 2028 No change in current inflation Targets and assumptions do not include M&A Patient Direct CAGR of 8%+ $400M+ Patient Service Equipment (PSE) ~6% of Revenue No impact from potential competitive bidding Products & Healthcare Services CAGR of 1%+ $100M+ Commodity prices follow inflation MOwens M&Minor#9090 Adjusted EBITDA Reconciliation $ in millions Adjusted EBITDA Reconciliation Net income (loss) from continuing operations, as reported (GAAP) Income tax (benefit) provision Interest expense, net Acquisition-related charges and intangible amortization (¹) Exit and realignment charges (2) Other depreciation and amortization (3) Stock compensation (4) LIFO charges (5) Inventory valuation adjustment (6) Loss on extinguishment and modification of debt (7) Software as a service implementation costs (8) Goodwill and intangible asset impairment charges (9) Fair value adjustments related to purchase accounting (10) Other (11) Adjusted EBITDA (non-GAAP) Apria adjusted EBITDA (12) Pro forma adjusted EBITDA (non-GAAP) (Pro Forma Adjusted EBITDA) $ Proprietary to Owens & Minor, Inc. $ Certain totals may not sum due to rounding Reconciliations are presented on a continuing operations basis, unless noted otherwise FYE 2022 22.4 (11.5) 128.9 127.0 6.9 149.8 20.5 5.4 92.3 2.1 543.7 43.9 587.7 FYE 2021 221.6 55.2 48.1 42.8 31.1 50.8 23.4 55.1 40.4 2.3 570.7 FYE 2020 88.1 21.8 83.4 53.3 25.9 51.8 17.6 15.6 11.2 (0.4) 368.4 FYE 2019 (22.6) (6.1) 98.1 59.7 14.4 55.6 12.1 7.9 0.8 4.4 224.2 LTM Q2 2019 $ (240.7) (32.2) 93.7 59.7 12.1 55.0 14.9 19.4 2.0 1.2 248.5 9.0 242.5 FYE 2018 (394.7) (32.4) 71.0 80.2 14.1 48.3 13.9 26.9 2.3 413.9 27.1 270.5 MOwens M&Minor#9191 Net Debt Reconciliation $ in millions Net Debt Reconciliation Total debt, as reported (GAAP) Cash and cash equivalents Net debt (non-GAAP) $ in millions Free Cash Flow Reconciliation Cash provided by operations Net capital expenditures (Net Capex) (15) Free Cash Flow September 30, 2023 2,146.0 (215.2) 1,930.8 Proprietary to Owens & Minor, Inc. $ $ December 31, 2022 FYE 2022 $ 2,500.9 $ (69.5) 2,431.4 $ 325.0 $ (118.2) 206.8 $ December 31, 2021 FYE 2021 Certain totals may not sum due to rounding Reconciliations are presented on a continuing operations basis, unless noted otherwise Consolidated Free Cash Flow Reconciliation 124.2 $ (49.7) 74.5 $ 949.6 (55.7) 893.9 December 31, 2020 FYE 2020 $ $ 339.2 $ (59.0) 280.3 1,026.0 (83.1) $ December 31, 2019 942.9 $ FYE 2019 $ 166.1 (51.9) 114.2 $ FYE 2018 1,559.7 $ (67.0) 1,492.6 115.6 $ (64.0) 51.6 $ June 30, 2019 FYE 2017 December 31, 2018 56.8 (50.1) 6.7 1,669.7 (78.7) 1,591.0 $ $ 1,676.6 (66.3) 1,610.3 MOwens M&Minor#9292 Adjusted EPS Reconciliation $ in millions, except per share data Adjusted EPS Reconciliation Net income (loss) from continuing operations, as reported (GAAP) Pre-tax adjustments: Acquisition-related charges and intangible amortization (1) Exit and realignment charges (2) Loss on extinguishment and modification of debt (7) Inventory valuation adjustment (6) Software as a service implementation costs (8) Other (11) Income tax benefit on pre-tax adjustments (13) Tax adjustment (14) Net income, adjusted (non-GAAP) (Adjusted Net Income) Net income (loss) from continuing operations, per common share, as reported (GAAP) After-tax adjustments: Acquisition-related charges and intangible amortization (¹) Exit and realignment charges (2) Loss on extinguishment and modification of debt (7) Inventory valuation adjustment (6) Software as a service implementation costs (8) Other (11) Tax adjustment (14) Net income per common share, adjusted (non-GAAP) (Adjusted EPS) Certain totals may not sum due to rounding Reconciliations are presented on a continuing operations basis, unless noted otherwise Proprietary to Owens & Minor, Inc. $ $ FYE 2022 22.4 127.0 6.9 92.3 2.1 (56.0) (10.5) 184.2 0.29 1.27 0.07 0.91 0.02 (0.14) 2.42 $ $ FYE 2021 221.6 42.8 31.1 40.4 2.3 (30.3) 1.4 309.3 2.94 0.42 0.30 0.40 0.02 0.02 4.10 $ $ $ FYE 2020 88.1 53.3 25.9 11.2 (1.2) (23.3) (10.4) 143.7 1.39 0.61 0.30 0.13 (0.01) (0.16) 2.26 $ $ $ FYE 2019 (22.6) 59.7 14.4 0.8 4.4 (19.0) 37.7 (0.37) 0.74 0.18 0.01 0.06 0.62 MOwens M&Minor#9393 Definitions of Non-GAAP Reconciliation Items The following items have been excluded in our Non-GAAP financial measures: (1) Acquisition-related charges and intangible amortization includes acquisition-related charges consisting primarily of one-time costs related to the Apria, Halyard, and Byram acquisitions, including transaction costs necessary to consummate the acquisitions, which consisted of investment banking advisory fees and legal fees, director and officer tail insurance expense, severance and retention bonuses, and professional fees, as well as amortization of intangible assets established during acquisition method of accounting for business combinations. These amounts are highly dependent on the size and frequency of acquisitions and are being excluded to allow for a more consistent comparison with forecasted, current and historical results. (2) Exit and realignment charges consist primarily of charges associated with optimizing our operations which includes the consolidation of certain distribution centers, warehouses, our client engagement center and Information Technology (IT) Restructuring charges, such as converting to common IT systems, as well as increases in reserves associated with certain retained assets of Fusion5. These charges also include costs associated with our strategic initiatives which include reorganization costs, certain professional fees, costs to streamline administrative functions and processes, divestiture related costs, and other items. These costs are not normal recurring, cash operating expenses necessary for the Company to operate its business on an ongoing basis. (3) Other depreciation and amortization relates to property and equipment and capitalized computer software, excluding such amounts captured within exit and realignment charges or acquisition-related charges. (4) Stock compensation includes share-based compensation expense related to our share-based compensation plans, excluding such amounts captured within exit and realignment charges or acquisition-related charges. (5) LIFO charges includes non-cash adjustments to merchandise inventories valued at the lower of cost or market, with the approximate cost determined by the last-in, first-out (LIFO) method for certain inventories in the U.S. within our Products & Healthcare Services segment. (6) Inventory valuation adjustment relates to an inventory valuation adjustment in our Products & Healthcare Services segment, primarily associated with personal protective equipment inventory built up and a subsequent decline in demand as a result of the COVID-19 pandemic. (7) Loss on extinguishment and modification of debt primarily includes the write-off of deferred financing costs, make-whole premium charges, and third party fees associated with debt extinguishment and modification, as well as amounts reclassified from accumulated other comprehensive loss as a results of the termination of our interest rate swaps, partially offset by gains on repurchase of Senior Notes. (8) Software as a service implementation costs are associated with significant global IT platforms in connection with the redesign of our global information system strategy. Beginning in 2020 such costs were deferred and amortized over the appropriate period consistent with Accounting Standards Update 2018-15. Proprietary to Owens & Minor, Inc. Owens M&Minor#9494 Definitions of Non-GAAP Reconciliation Items, continued (⁹) Goodwill and intangible asset impairment charges were incurred as a result of a decline in our market capitalization and lower projected financial results of certain reporting units due to customer losses and operational inefficiencies. (10) Fair value adjustments related to purchase accounting includes an incremental charge to cost of goods sold from purchase accounting impacts related to the sale of acquired inventory that was written up to fair value in connection with the Halyard acquisition. (11) Other includes interest costs and net actuarial losses related to our retirement plans and for the year ended December 31, 2020 a gain from the surrender of company-owned life insurance policies of $(3.5) million. (12) Apria adjusted EBITDA is presented in order to calculate pro forma adjusted EBITDA and pro forma leverage ratio of net debt to adjusted EBITDA for fiscal year ended December 31, 2022, as if Apria was acquired on January 1, 2022. The pro forma results are not necessarily indicative of the results that would have been if the acquisition had occurred on January 1, 2022. We have not separately presented the components of Apria adjusted EBITDA, as we determined that such presentation would not be meaningful. (13) Income tax benefit on pre-tax adjustments These charges have been tax effected by determining the income tax rate depending on the amount of charges incurred in different tax jurisdictions and the deductibility of those charges for income tax purposes. (14) Tax adjustment in 2022 includes a change in our foreign repatriation plans related to the permanent reinvestment of earnings associated with a subsidiary in Thailand. Amount 2021 include a tax adjustment associated with a valuation allowance on the capital loss related to the divestiture of our Movianto business, partially offset by the estimated benefits under the Tax Cuts and Jobs Act and the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Amount in 2020 includes a tax adjustment associated with the estimated (benefits) expense under the Tax Cuts and Jobs Act and the CARES Act. (15) Net capital expenditures (Net Capex) includes the additions to property and equipment and computer software net of proceeds from sale of property and equipment as disclosed in the investing activities section of the Consolidated Statements of Cash Flows. Proprietary to Owens & Minor, Inc. MOwens M&Minor