Slides
Page 1
1 Investor Presentation J.P. Morgan HealthCare Conference Al White – President & CEO January 14, 2026
Page 2
2 Cautionary Statements Forward-Looking Statements This presentation and management’s discussion of our results and outlook contain "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995. Statements relating to guidance, plans, prospects, goals, strategies, future actions, events or performance and other statements that are other than statements of historical fact are forward looking. To identify these statements, look for words like "believes," "outlook," "probable," "expects," "may," "will," "should," "could," "seeks," "intends," "plans," "estimates" or "anticipates" and similar words or phrases. Forward looking statements include statements relating to our financial guidance for fiscal year 2025, revenues, EPS, cash flows, interest, FX and tax rates, tariffs, and other financial guidance and expectations, and all statements regarding strategic and operational initiatives, product launches and demand, anticipated growth in market share and sales, market conditions and trends, including expectations for market growth, collaborations and acquisitions, and ESG initiatives. Forward-looking statements necessarily depend on assumptions, data or methods that may be incorrect or imprecise and are subject to risks and uncertainties. Detailed descriptions of a number of important risk factors that could cause our actual results and future actions to differ materially from those described in forward-looking statements can be found in our Securities and Exchange Commission filings, including under the “Forward-Looking Statements” section in our press releases and under the “Business”, “Risk Factors” and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections in our most recent Annual Report on Form 10-K, as such sections may be updated in our Quarterly Reports on Form 10-Q, copies of which are available on the Company’s website: www.coopercos.com. Such risk factors include the adverse impact of global business and economic conditions (such as military conflicts, inflation, tariffs, and currency exchange rate and interest rate fluctuations), risks associated with international operations, risks related to pending and completed transactions, evolving global regulatory requirements, and operational challenges. We caution investors that forward-looking statements reflect our analysis only on their stated date. We disclaim any intent to update them except as required by law. Non-GAAP Financial Measures Certain financial measures included in this presentation, or which may be referred to in management’s discussion of our results and outlook, are non-GAAP measures that we believe are helpful in understanding our results. These non-GAAP financial measures may include, for example, constant currency and organic revenue growth, non-GAAP earnings per share and non-GAAP margin results. The non-GAAP measures exclude costs which we generally would not have otherwise incurred in the periods presented as a part of our continuing operations. Our non-GAAP financial results are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. The reasons that we use these non-GAAP measures, a reconciliation of these measures to the most directly comparable GAAP measures, and other information relating to these measures are available under the “Reconciliation of Selected GAAP Results to Non-GAAP Results” section of our earnings press releases, copies of which are available on the Company’s website at https://investor.coopercos.com/press-releases. With respect to guidance, we have not reconciled non-GAAP diluted earnings per share guidance to GAAP diluted earnings per share due to the inherent difficulty in forecasting acquisition-related, integration and restructuring charges and expenses, which are reconciling items between the non-GAAP and GAAP measure. Due to the unknown effect, timing and potential significance of such charges and expenses that impact GAAP diluted earnings per share, we are not able to provide such reconciliations. Trademarks CooperVision, CooperSurgical, and other trade names, trademarks or service marks of Cooper and its subsidiaries appearing in this report are the property of Cooper and its subsidiaries. Trade names, trademarks and service marks of the other companies appearing in this report are the property of their respective holders.
Page 3
3 CooperCompanies Overview A leading global medical device company Nasdaq: COO | HQ: San Ramon, CA Year founded 1958 Products sold in more than 130+ countries 15K+ employees in 45+ countries Member of the S&P 500 since 2016 50M+ people positively impacted from our products2 FY25 Revenue of $4.1B Business Unit1 Geography1 Note: 1. Revenue splits as of FY25A 2. people positively impacted from our products as of FY25A Vision Women's Health Americas EMEA Asia Pacific
Page 4
4 CVI $1,488 CVI $1,577 CVI $1,674 CVI $1,882 CVI $1,973 CVI $1,843 CVI $2,152 CVI $2,243 CVI $2,424 CVI $2,609 CVI $2,744CSI $309 CSI $390 CSI $465 CSI $651 CSI $680 CSI $588 CSI $771 CSI $1,065 CSI $1,169 CSI $1,286 CSI $1,349 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 $1.8B 15.9% CSI 6.3% CVI 8.6% COO CAGR (‘15-’25) Operating in two growing markets with strong tailwinds Deeply committed to innovation, operational excellence & forming trusted relationships CooperCompanies Performance Total revenue more than doubled in the last decade Note: Sales $ in millions CVI is CooperVision; CSI is CooperSurgical Strong and durable top-line growth driven by investments in infrastructure, R&D and M&A $2.0B $2.1B $3.9B $3.3B $2.9B $2.4B $2.7B$2.5B $3.6B $4.1B
Page 5
5 CooperCompanies Total $1,019 - $1,030 (3% - 4% organic growth) $4,299 - $4,338 (4.5% - 5.5% organic growth) CooperVision $693 - $700 (3.5% - 4.5% organic growth) $2,900 - $2,925 (4.5% - 5.5% organic growth) CooperSurgical $327 - $330 (2% - 3% organic growth) $1,399 - $1,413 (4% - 5% organic growth) Notes: Revenue and free cash flow $ in millions 1. Guidance initiated 12/4/25. 2. Revenue growth is organic and non-GAAP EPS growth excludes FX. Organic growth is defined as constant currency excluding the impact of acquisitions and discontinuations that occurred in the comparable period. A reconciliation of non-GAAP measures is available under the “Reconciliation of Selected GAAP Results to Non-GAAP Results” section in our earning releases and under the "Management’s Discussion and Analysis of Financial Condition and Results of Operations" section in our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q, copies of which are available on our website: www.coopercos.com. With respect to EPS guidance, the Company has not provided reconciliation to GAAP due to the inherent difficulty in forecasting acquisition-related, integration and restructuring charges and expenses. Due to the unknown effect, timing and potential significance of such charges and expenses that impact GAAP diluted earnings per share, we are not able to provide such guidance. Revenue FY26 Guidance Q1 2026 Guidance EPS Fiscal 2026 & Q1’26 financial guidance FCF Non-GAAP $1.02 - $1.04 $4.45 - $4.60 Non-GAAP $575 - $625
Page 6
6 CooperCompanies Key Strategic Priorities Drive shareholder value through consistent execution of long-term goals Drive Revenue & Market Share Growth Committed to Earnings & FCF Disciplined Capital Allocation Approach Foster Culture and Community Drive Revenue & Market Share Growth Drive organic revenue and operating income growth Execute on global private label contracts Deliver value to customers through core products and new product launches Committed to Earnings & FCF Targeting double digit EPS growth year over year and committed to fiscal 2026 -2028 FCF target of >$2.2B Disciplined Capital Allocation Approach Allocate ~ 2/3 of FCF to share buyback in FY26 Debt pay down Foster Culture and Community Support our employees through significant organizational change Live our values and reinforce our culture
Page 7
7 High Barriers to Entry • High capital outlay with highly specialized manufacturing • Technological expertise • Stringent FDA and worldwide regulatory standards • Long history of product innovation Favorable Industry Characteristics • Strong fundamental growth drivers • Limited reimbursement risk • Recession resistant • Annuity business (durable) Growth in wearers • Growing prevalence of myopia • Geographic expansion Pricing New fits / trade ups • Steady shift into 1 Day Silicone Hydrogel lenses • Sustained interest in torics and multifocals Macro Growth Drivers Contact Lens Market Growing 4-5% annually JNJ 36% Alcon 25% CVI 27% Other 12% Market by Competitor Note: Manufacturers gross sales; Trailing Twelve Months as of 9/30/25 Source: Management estimates and independent market research ~$11B Global Soft Contact Lens Market $11 billion growing market
Page 8
8 CooperVision #1 contact lens company in the world in terms of wearers Dailies FRPs Note: Trailing Twelve Months as of 9/30/25 FRPs are Frequently Replaced Lenses
Page 9
9 Toric and multifocal 49% Sphere, other 51% FY25 Revenue $1,488 $2,744 FY15 FY25 CooperVision Track record of durable growth supported by innovation and market share gains $2.7B Note: Revenue $ in millions; * Trailing Twelve Months as of 9/30/25 Source: Management estimates and independent market research Durable Revenue Market Share Growth 10-year CAGR 6.3% 22% 27% CY15 TTM*
Page 10
10 CooperVision Driving growth through product innovation Product 1Q26 2Q26 3Q26 4Q26 MiSight Japan MyDay Energys EMEA MyDay MiSight EMEA (select markets) Asia (a few other countries) MyDay Multifocal Continued rollout in APAC MyDay Toric (parameter expansion) Continued rollout globally MyDay Toric Multifocal Targeted Launch
Page 11
11 Fertility 39% Office & surgical 61% CooperSurgical Creating a world with healthy women, babies, and families FY25 Revenue 10-year CAGR 16% Note: Revenue $ in millions Durable Revenue $1.35B $309 $1,349 FY15 FY25
Page 12
12 CooperSurgical: Fertility Leading fertility company in the medical device industry Fertility Business Highlights ~$3B Global Market1 4-6% Annual Growth2 Fertility Market Source: 1. Manufacturer sales of medical device products and services excluding consultation and pharma 2. Near term annual growth 3. The World Health Organization (WHO) Roughly 1 in 6 people will experience infertility at some point in their lives, globally3 Fertility Macro Growth Trends Women delaying childbirth Increasing access to treatment Rising patient awareness Expanded benefits coverage Continued innovation in technology 2026 Fertility Innovation Leading portfolio of innovative products and services for IVF including consumables and capital equipment, reproductive genetic testing, and donor activity. Deeply committed to supporting patients and clinics by delivering innovation, launching new products and services, providing extensive clinical training, expanding geographically, and advancing our R&D efforts. Select Syndrome Screen ViaBL Media Male fertility cryopreservation
Page 13
13 CooperSurgical: Office & Surgical Extensive platform in favorable and growing markets Office & Surgical Business Highlights Office and surgical includes medical devices (sold into gynecologist offices and hospitals) for Labor & Delivery, Paragard, and stem cell storage. Produce over 600 clinically-relevant medical devices used by women’s health care providers in gynecology and obstetrics. Paragard is the number one non hormonal IUD. It is placed in office and is 99% effective with a ten-year indication. Launched FDA approved single-hand inserter. Acquired obp Surgical expanding CooperSurgical’s existing med device portfolio (8/1/24). Select Medical Devices1 Paragard Stem cell storage Note: 1. Examples of medical devices include ONETRAC LX cordless surgical retractor , INSORB® Skin Stapler, and Fetal Pillow
Page 14
14 CooperCompanies Driving long term sustainable value Operating in two growing markets with strong underlying fundamentals Brand and private label leadership across our innovative product portfolio Leverage investments and drive operating performance Long-term focus and discipline on creating shareholder value Proven track record of delivering strong financial results Well-Positioned for the Future