Orthofix Investor Presentation Deck

Proforma Historical Adjusted Gross Margin ($ in millions) Total revenue, net Gross profit (¹) Add back: Share-based compensation expense Historical 2022 Quarterly Proforma Adjusted Gross Margin SeaSpine merger-related costs Strategic investments Q1 22 Q3 22 Q2 22 OFIX SPNE SPNE SPNE $106.418 $ 51.263 $157.681 $118.070 $ 56.942 $175.012 $ 113.996 $67.772 $ 181.768 NewCo OFIX NewCo OFIX NewCo $78.100 $28.966 $107.066 $ 86.470 $ 35.768 $122.238 $83.423 $38.585 $122.008 $89.176 $38.515 $ 127.691 0.082 0.286 0.195 BENE 0.566 0.304 0.083 0.083 0.006 0.006 0.008 0.008 0.001 0.001 $78.342 $29.169 $ 107.511 $ 87.248 $35.933 $123.181 $83.922 $38.688 $122.611 $89.833 $38.617 $128.450 73.6% 56.9% 68.2% 73.9% 63.1% 70.4% 73.6% 57.1% 67.5% 73.5% 60.2% 68.9% 0.211 0.025 0.078 Acquisition-related fair value adjustments Amortization/depreciation of acquired long-lived assets Medical device regulation 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. 0.125 0.289 0.025 0.125 0.204 0.566 0.103 Ⓒ2023 Orthofix Medical Inc. All rights reserved | 22 0.299 0.304 Q4 22 OFIX SPNE NewCo $122.229 $ 64.144 $186.373 0.217 0.439 0.102 0.318 0.439 FY 2022 OFIX SPNE NewCo $460.713 $240.121 $700.834 $337.169 $141.834 $479.003 0.827 1.334 0.365 0.208 1.192 1.334 0.208 0.015 0.015 $339.345 $142.407 $ 481.752 73.7% 59.3% 68.7% On the Company's Q3 2023 earnings call held on November 8, 2023, Orthofix management presented Proforma Adjusted EBITDA and Adjusted Proforma Gross Margin, both of which are non-GAAP financial measures, for the 3rd 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 3rd quarter of 2023. 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. For further information on the reasons for and 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 November 8, 2023. ORTHOFIX®*® Sea Spine

View entire presentation