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INVESTOR PRESENTATION August 2026 THE LEADER IN SURGICAL AESTHETICS
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Forward Looking Statements Certain matters discussed in this presentation and oral statements made from time to time by representatives of the Company may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. All statements other than statements of historical fact are statements that could be deemed forward- looking statements, including but not limited to, projections of net revenue, margins, expenses, net earnings, net earnings per share, or other financial items; projections or assumptions concerning the possible receipt by the Company of any regulatory approvals from any government agency or instrumentality including but not limited to the U.S. Food and Drug Administration (the “FDA”), supply chain disruptions, component shortages, manufacturing disruptions or logistics challenges; or macroeconomic or geopolitical matters and the impact of those matters on the Company’s financial performance. Forward-looking statements and information are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company’s ability to control or predict. Important factors that may cause the Company’s actual results to differ materially and that could impact the Company and the statements contained in this release include but are not limited to risks, uncertainties and assumptions relating to the regulatory environment in which the Company is subject to, including the Company’s ability to gain requisite approvals for its products from the FDA and other governmental and regulatory bodies, both domestically and internationally;; sudden or extreme volatility in commodity prices and availability, including supply chain disruptions; changes in general economic, business or demographic conditions or trends; changes in and effects of the geopolitical environment; liabilities and costs which the Company may incur from pending or threatened litigations, claims, disputes or investigations; and other risks that are described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and the Company’s other filings with the Securities and Exchange Commission. For forward-looking statements in this presentation, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. Non-GAAP Financial Measures We may present non-GAAP measures because we believe such measures are a useful indicator of our operating performance. Our management uses non-GAAP measures principally as a measure of our operating performance and believes that these measures are useful to investors because they are frequently used by analysts, investors and other interested parties to evaluate companies in our industry. We also believe that they are useful to our management and investors as a measure of comparative operating performance from period to period. The non-GAAP financial measure presented in this presentation should not be considered as a substitute for, or preferable to, the measures of financial performance prepared in accordance with GAAP. The Company has presented the following non-GAAP financial measure in this presentation: adjusted EBITDA. The Company defines adjusted EBITDA as its reported net income (loss) attributable to stockholders (GAAP) plus income tax expense (benefit), interest, depreciation and amortization, and stock-based compensation expense. CAUTIONARY STATEMENTS 2
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THE LEADER IN SURGICAL AESTHETICS 3 Real Patients, Real Results ▲ Leading developer of surgical technologies used in minimally invasive aesthetic surgical procedures and ▲ Uniquely positioned to address rapid shifts in market following broad adoption of GLP-1 drugs for weight loss ▲ Renuvion® is the only FDA approved device for treatment of loose and lax skin post liposuction and contracting subcutaneous soft tissue anywhere on the body providing durable and transformational results ▲ AYON Body Contouring System received FDA clearance in May 2025 and executed commercial launch in September 2025 ▲ Received clearance for expanded label for AYON adding power liposuction – May 2026 ▲ Expanded international footprint into China and South Korea in 2025 Real Patients, Real Results
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MARKET TRENDS + MACRO SIGNALS Market Trends Procedural Shifts Consumer Behavior • GLP-1 therapies expected to exceed $100B by 2030 (McKinsey). • 44% of GLP-1 users spend $2K–$5K on aesthetics; 25%+ spend more. • 63% of GLP-1 patients are new to aesthetics post-weight loss. • MedSpa revenue down 30% (noninvasive). • Liposuction procedures declined 10.7% YoY (ISAPS). • Lift procedures surged: Upper Body +24.8%, Lower Body +23.5%, Buttock +16%. • Skin tightening is now the #1 requested treatment post-weight loss. • Only surgical procedures provide durable and transformational results. • 72% of GLP-1 users report loose skin as their top concern. • Patients want a mix of 'natural look' vs. transformative change. • 57% seek treatment within 6 months post-weight loss. • Desire for multi-modality solutions (contour + tighten + restore). Apyx is uniquely positioned to lead the surgical aesthetics market and capture the growing post-weight-loss demand
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GOOGLE TRENDS Market Trends Procedural Shifts • GLP-1 therapies expected to exceed $100B by 2030 (McKinsey). • 44% of GLP-1 users spend $2K–$5K on aesthetics; 25%+ spend more. • 63% of GLP-1 patients are new to aesthetics post-weight loss. • MedSpa revenue down 30% (noninvasive). • Liposuction procedures declined 10.7% YoY (ISAPS). • Lift procedures surged: Upper Body +24.8%, Lower Body +23.5%, Buttock +16%. • Skin tightening is now the #1 requested treatment post-weight loss. • Only surgical procedures provide durable and transformational results. • 72% of GLP-1 users report loose skin as their top concern. • Patients want a mix of 'natural look' vs. transformative change. • 57% seek treatment within 6 months post-weight loss. • Desire for multi-modality solutions (contour + tighten + restore).
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>$10B 1. Assumes ~15,000 physicians * $155,000 generator list price 2. Assumes ~1,500,000 annual surgical procedures * $500 handpiece list price 3. Assumes ~55,000 physicians * $155,000 generator list price 4. Assumes ~3,600,000 annual surgical procedures * $500 handpiece list price Source: International Society of Aesthetic Plastic Surgery (ISAPS) 2024 5. Management estimates’ MULTI BILLION DOLLAR GLOBAL MARKET OPPORTUNITY 6 Generators ~$2.3B1 Market opportunity in U.S. $1B+ Additional U.S. market opportunity now that AYON Body Contouring System approved by FDA Handpieces ~$750M2 Annual market opportunity in U.S. ~1.5M Procedures annually in U.S. • ~343K liposuction procedures • ~700K surgical body contouring, neck contouring and wrinkle reduction procedures5 • >400K non-surgical procedures5 ~15,000 Total estimated Plastic surgeons, cosmetic surgeons, & dermatologists in U.S. Generators ~$8.5B3 Market opportunity worldwide Handpieces ~$1.9B4 Annual market opportunity worldwide ~3.6M Procedures annually worldwide • ~2.1M Liposuction procedures • ~1.5M Non-Surgical procedures ~55,000 Total estimated plastic surgeons worldwide
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RENUVION SINGLE-USE HANDPIECES – RECURRING REVENUE 7 Single-use handpiece sales account for approximately 50% of revenue for the Surgical Aesthetics business segment in 2025 Current handpiece usages averages approximately 3 per month Growth Driver over past year
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8 HOW RENUVION WORKS Renuvion® utilizes a unique combination of helium plasma and proprietary radiofrequency energy applied via a single-use wand inserted under the skin. The energy contracts collagen fibers, pulling the skin closer to the muscle for a smooth, contoured appearance in just minutes. Handpiece inserted sub-dermally Contract skin via direct heating Longer-term skin contraction through neocollagenesis
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PATIENT 51-YEAR-OLD MALE PROCEDURE TYPE LIPOSUCTION + RENUVION® AMOUNT OF FAT REMOVED 100 ml Photos courtesy of Grant Hamlet, MD. *Patient gained 14 lbs since initial procedure BEFORE 5.5 MONTHS POST-OP* 9 REAL RESULTS
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Photos courtesy of J Kevin Duplechain, MD. Disclosure: The patient shown in the pictures above is an employee of Apyx Medical. BACK CASE EXAMPLE #1 BEFORE 2.5 MONTHS POST-OP PATIENT 33-YEAR-OLD FEMALE PROCEDURE TYPE LIPOSUCTION + RENUVION® AMOUNT OF FAT REMOVED 1,750 cc 10 REAL RESULTS
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Precise, Superior Results: AYON’s integrated Lipo Intelligent Frequency Tracking (LIFT) Technology offers real-time energy adjustments, ensuring optimal fat emulsification and accurate sculpting. Comprehensive Treatment: AYON combines fat removal, transfer, and skin tightening in one system, addressing areas from delicate regions like the neck to larger zones such as the abdomen. Enhanced Skin Contraction: Renuvion technology delivers firmer, smoother contours by significantly tightening skin post-procedure, particularly in areas with laxity. All-in-One Platform: AYON seamlessly integrates Ultrasound-Assisted Liposuction (UAL), Power Liposuction, Renuvion, infiltration, aspiration, electrocoagulation, and closed loop contouring into a single, streamlined device. Advanced LIFT Technology : Automatically adjusts to maintain optimal resonance frequency, ensuring consistent fat emulsification and safe, effective body sculpting. Improved Workflow Efficiency: A single console for multiple procedures enhances ease of use, streamlines operations, and provides complete control for a wide variety of treatments. Dual Suction and Aspiration enhance operating room efficiency and improve procedural outcomes by streamlining fat removal and reducing treatment time. AYON: REVOLUTIONIZING BODY CONTOURING 11 Electrosurgical Capabilities Infiltration/ Aspiration Suction Assisted Liposuction Ultrasound Assisted Liposuction Power Liposuction 510(k) Clearance May 2026 Renuvion Skin Contraction Closed Loop Contouring
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12 NEXT GENERATION ULTRASOUND • ADJUSTABLE POWER from 0–100% to match procedural needs and surgeon preference • FINTERTIP CONTROLS to turn on and off, and activate infiltration and aspiration controls built into the handpiece • ERGONOMIC DESIGN with a lightweight, streamlined handpiece designed to enhance procedural control and reduce surgeon fatigue. • DUAL PORTS to simultaneously operate two handpieces • SINGLE TUBING WITH Y CONNECTOR helps simplify setup and reduce interruptions to workflow ADVANCED POWER LIPOSUCTION • PRECISION TARGETING of adipose tissue while minimizing thermal spread to surrounding structures • REDUCED MECHANICAL TRAUMA to connective tissue, vessels, and nerves • UNIFORM ENERGY DISTRIBUTION along the cannula for consistent, reproducible outcomes • CELL SEPARATION, NOT DESTRUCTION so the small clusters of cells and individual, intact, viable adipocytes • PRESERVATION OF VIABILITY — UAL yields a homogeneous suspension of viable cells suitable for aspiration and processing AYON harnesses high-frequency ultrasonic energy delivered at the probe tip, creating controlled cavitation and gentle separation of fat cells. AYON modernizes power liposuction with adjustable shaft reciprocation and fingertip management of capabilities, bringing greater control and functionality directly to the handpiece. Different tissue types, fat densities, and treatment areas often respond differently throughout a procedure. Integrating both allows us to adjust technique based on real time tissue response and support predictable results.
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DRIVING PATIENT DEMAND + OPTIMIZING PROVIDER RESULTS Leveraging partnerships with key influencers to drive patient inquiries and highlight Renuvion’s results with an emotional connection. Launching targeted campaigns to educate patients and providers, positioning Renuvion as the #1 trusted body contouring technology focusing on loose skin. Providing comprehensive marketing resources and digital tools to help providers attract, educate, and convert patients, ensuring optimal treatment outcomes. Participating in premier lifestyle expos and exclusive retreats to engage consumers and providers, boosting brand visibility and patient demand. Renuvion DTC & Physician Marketing Strategy INFLUENCER MARKETING IMPACT AMPLIFY AWARNESS THROUGH KEY EVENTS ADRESSING THE LOOSE SKIN EPIDEMIC PRACTICE GROWTH + ENHANCING RESULTS 13
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GLOBAL PRESENCE Driving growth by expanding customer base and increasing utilization from existing accounts We are also registered to sell our products through distributors in over 60 countries. Our manufacturing operations are supported by facilities located in Clearwater, FL, Sofia, Bulgaria and through our contract manufacturing partner in Ningbo, China. 1 as of December 31, 2023 Clearwater, Florida Manufacturing facility Sofia, Bulgaria Manufacturing facility Ningbo, China Contract Manufacturing facility Driving growth by expanding customer base and increasing utilization from existing accounts We are also registered to sell our products through distributors in over 60 countries. Our manufacturing operations are supported by facilities located in Clearwater, FL, Sofia, Bulgaria and through our contract manufacturing partner in Ningbo, China. 14 1 as of December 31, 2023
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15 2026 FINANCIAL GUIDANCE REAFFIRMED ▲Total revenue in the range of $59.0 million to $60.0 million, compared with $52.8 million reported for the year ended December 31, 2025. • Total revenue guidance assumes: − Surgical Aesthetics revenue is expected to be in the range of $54.0 million to $55.0 million, compared with approximately $45.3 million reported for the year ended December 31, 2025. − OEM revenue is expected to be approximately $5.0 million, compared with approximately $7.5 million for the year ended December 31, 2025. ▲The Company continues to expect operating expenses of less than $45.0 million for the year ended December 31, 2026.
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16 2025 COMPANY OBJECTIVES Continue to expand adoption of Renuvion® as the revolutionary treatment of loose and lax skin Continue to execute commercial launch of AYON and capitalize on increased demand for market tailwinds related to GLP-1 drugs Continue to develop network outside of U.S. Continue to expand library of clinical evidence supporting the use of our Surgical Aesthetic products Manage expenses while driving progress towards profitability 01 02 03 04 05
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Office Locations APYX MEDICAL CORPORATION 5115 Ulmerton Road • Clearwater, FL 33760-4004 • USA APYX BULGARIA Manufacturing Facility and European Authorized Service Center Q&A 17
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The safety and efficacy of Renuvion is supported by more than 120 published clinical papers, abstracts and posters, as well as 2 multi-site IDE clinical studies. Clinical Publications at: https://physicians.renuvion.com/library/ 18 COMPELLING CLINICAL AND REAL-WORLD EVIDENCE
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BENEATH THE SURFACE CUTTING-EDGE 3-IN-1 ENERGY SYSTEM: RENUVION® ENERGY AND FULL MONOPOLAR AND BIPOLAR FUNCTIONALITY INNOVATIVE FEATURES Adaptive home screen Intuitive touch screen Presets by area ADVANCED GAS SYSTEM Measuring and monitoring gas volumes Sized for 20-60cu/ft tank CLOUD CONNECTIVITY Procedural information recording and reporting Remote system diagnostics Remote updates 19
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▲ Completed a registered direct offering with net proceeds of $7.0 million with a healthcare-focused fund ▲ Amended credit agreement with Perceptive Credit Holdings IV , LP ▲ Significantly reduce the trailing twelve-month Surgical Aesthetics revenue covenants ▲ Added a maximum operating expense covenant of $40M and $45M for 2025 and 2026, respectively ▲ Implemented a cost saving restructuring program that included an organizational reduction in force to better focus, optimize and streamline operations: ▲ Reduced U.S. workforce by nearly 25%, with estimated annualized future cost savings of ~$4.3M ▲ Identified over $4M in additional cost savings ▲ Anticipate operating expenses to be below $40 million in 2025 ▲ Right sized the Company’s board of directors to five members down from eight, and reduced cash compensation for remaining directors 20 STRATEGIC INITIATIVES ANNOUNCED IN Q4 2024 – VALUE CREATION IN 2025 CARRIED IN 2026