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EARNINGS P R E S E N T A T I O N Q 2 2 0 2 6 July 29, 2026
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This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties and reflect the Company's judgment as of the date of this release. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. Some of these forward-looking statements may contain words like “will,” “believe,” “may,” “could,” “would,” “might,” “possible,” “should,” “expect,” “intend,” "forecast," "guidance," “plan,” “anticipate,” "target," or “continue,” the negative of these words, other terms of similar meaning or they may use future dates. Forward-looking statements contained in this presentation include, but are not limited to, statements concerning: the future business, operational and financial performance of the Company and the Company’s expectations and plans with respect to market opportunity, business and operational performance, strategic initiatives, capabilities, resources, manufacturing capabilities, product development, product availability and regulatory approvals, including expectations regarding the Company's Braintree facility and the relaunch of SurgiMend in the fourth quarter of 2026. It is important to note that the Company’s goals and expectations are not predictions of actual performance. Such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from predicted or expected results. Such risks and uncertainties include, but are not limited to, the following: increased geopolitical instability and other macroeconomic factors, including trade barriers and related restrictions (including tariffs and related countermeasures), armed conflict and acts of terrorism, geopolitical tension and instability, supply chain disruptions, and interest rate and foreign currency rate fluctuations, on the Company’s suppliers, vendors and customers and on the Company’s business and financial condition, results of operations and cash flows; the Company's ability to execute its financial, strategic and operating plans effectively; the Company's ability to remediate quality systems violations; difficulties in implementing the Company’s compliance master plan; difficulties or delays in obtaining and maintaining required regulatory approvals, including the costs thereof potential difficulties, delays and disruptions in manufacturing, distribution or sale of products; the failure of the company’s suppliers, vendors, and other third parties to meet contractual, regulatory and other obligations; the anticipated development of markets the Company sells its products into and the success of the Company’s products in these markets; the Company’s ability to predict accurately the demand for its products and products under development; increasing industry competition; the coverage and reimbursement decisions of third-party payors; trends toward health care cost containment; difficulties in controlling expenses, including costs to procure and manufacture the Company’s products; the ability of the Company to successfully manage leadership and organizational changes and the impact of changes in management or staff levels; the impact of goodwill and intangible asset impairment charges if future operating results of acquired businesses are significantly less than the results anticipated at the time of the acquisitions, the geographic distribution of where the Company generates its taxable income; changes to applicable laws, regulations and enforcement guidance, including tax laws and global health care reforms; fluctuations in foreign currency exchange rates; the amount of our bank borrowings outstanding and other factors influencing liquidity; breaches, failures or other disruptions of our or our vendors’ or customers’ information technology systems or products; and the economic, competitive, governmental, technological, and other risk factors and uncertainties identified under the heading “Risk Factors” included in Item 1A of Integra's Annual Report on Form 10-K for the year ended December 31, 2025 and information contained in subsequent filings with the Securities and Exchange Commission. These forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events, or otherwise. Safe Harbor Statement IART Q2 2026 Earnings Presentation2
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In addition to our GAAP results, we provide certain non-GAAP measures, including organic revenues, adjusted earnings before inte rest, taxes, depreciation and amortization ("EBITDA"), adjusted EBITDA margin, adjusted net income, adjusted gross profit, adjusted gross margin, adjusted earnings per dil uted share, free cash flow, adjusted free cash flow conversion, and net debt. Organic revenues consist of total revenues excluding the effects of currency exchange rates, rev enues from current-period acquisitions and product divestitures. Adjusted EBITDA consists of GAAP net income excluding: (i) depreciation and amortization; (ii) other income (expense); (iii) interest income and expense; (iv) income tax expense (benefit); (v) impairment charges; and (vi) those operating expenses also excluded from adjusted net inc ome. The measure of adjusted EBITDA margin is calculated by dividing adjusted EBITDA by GAAP revenues. The measure of adjusted net income consists of GAAP net income, excludi ng: (i) structural optimization charges; (ii) divestiture, acquisition and integration-related charges; (iii) EU Medical Device Regulation-related charges; (iv) charges related to the transition of Boston-related manufacturing operations to the Company’s Braintree, Massachusetts facility (the "Braintree transition"); (v) intangible asset amortization expense; (vi) income tax impact from adjustments; and (vii) impairment charges. The measure of adjusted gross margin is calculated by dividing adjusted gross profit by total reven ues. Adjusted gross profit consists of GAAP gross profit adjusted for: (i) structural optimization charges; (ii) divestiture, acquisition and integration-related charges; (iii) charges related to the Braintree transition; (iv) EU Medical Device Regulation-related charges; and (v) intangible asset amortization expense. The adjusted earnings per diluted share measur e is calculated by dividing adjusted net income attributable to diluted shares by diluted weighted average shares outstanding. The measure of free cash flow consists of GAAP net cash provided by operating activities less purchases of property and equipment. The adjusted free cash flow conversion measure is calculated by dividing free cash flow by adjusted net income. The measure of net debt consists of GAAP total debt (excluding deferred financing costs) less short-term investments, cash and cash equivalents. Reconciliations of GAAP revenues to organic revenues, GAAP net income to adjusted EBITDA and adjusted net income, GAAP gross profit to adjusted gross profit, GAAP gross margin to adjusted gross margin, and GAAP earnings per diluted share to adjusted earnings per diluted share all for the three and six months ended June 30, 2026 and 2025, GAAP total debt to net debt for the quarters ended June 30, 2026 and December 31, 2025, and GAAP operating cash flow to free cash flow and adjusted free cash flow conversion for the for the quarters and twelve-months ended June 30, 2026 and 2025, appear in the financial tables in this presentation. The Company is providing forward-looking guidance regarding organic revenues, adjusted EBITDA, adjusted gross margins, and adjusted earnings per diluted share but is not providing a reconciliation to the most directly comparable forward-looking GAAP financial measures because certain GAAP expense items and the impact of changes in foreign excha nge rates are highly variable and management is unable to predict them with reasonable certainty and without unreasonable effort. Specifically, the actual impa ct of changes in foreign exchange rates and the financial impact and timing of divestitures, acquisitions, integrations, structural optimization, efforts to comply with the EU Medical Device Regulation, and income tax impact from adjustments are uncertain, depend on various dynamic factors and are not reasonably ascertainable at this time. The unavailab le information could have a material impact on GAAP results. The Company believes that the presentation of organic revenues and the other non -GAAP measures provide important supplemental information to management and investors regarding financial and business trends relating to the Company's financial condition and results of operations. For further information regarding why Integra believes that these non-GAAP financial measures provide useful information to investors, the specific manner in which management uses these measures , and some of the limitations associated with the use of these measures, please refer to the Company's Current Report on Form 8 -K regarding this presentation filed today with the Securities and Exchange Commission. This Current Report on Form 8-K is available on the SEC's website at www.sec.gov or on our website at www.integralife.com. Non-GAAP Financial Measures 3 IART Q22026 Earnings Presentation
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Executing Our 2026 Priorities Drive supply chain reliability Accelerate growth Ignite innovationDeliver best-in-class quality OUR STRATEGIC IMPERATIVES Transformation enabled strong execution and consistent, predictable performance 4 IART Q22026 Earnings Presentation Q2 2026 HIGHLIGHTS + Within guidance range + Reflects product demand, improved supply, increased visibility + $27M sequential increase $419M Reported Revenue + Exceeded top end of guidance + Supported by revenue performance + Tariff favorability $0.56 Adj. EPS 0.8% - 3.3% Organic Growth Maintained $2.40 - $2.50 Adj. EPS Maintained FULL YEAR OUTLOOK TRANSFORM TO EXCEL AND CONSISTENTLY DELIVER OUR FINANCIAL COMMITMENTS + Braintree facility online and producing inventory to support planned Q4 relaunch of SurgiMend® $1.65 - $1.70B Reported Revenue Updated for FX
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$419 $416 Q2 26 Q2 25 2026 Q2 Financial Highlights $0.56 +24.4% vs. 2025 ADJUSTED EPS 18.7% +160 bps vs. 2025 ADJUSTED EBITDA MARGIN 0.7% vs. 2025 ORGANIC Q2 REVENUE (in $M) Note: Adj. EBITDA margin, adj. EPS, and FCF conversion are non -GAAP financial measures. Growing margins and cashflow 0.8% vs. 2025 REPORTED 61.3% +60 bps vs. 2025 ADJUSTED GROSS MARGIN $22.8M and 24.0% FCF Conversion OPERATING CASH FLOW 5 IART Q22026 Earnings Presentation
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SPECIALTY SURGERY Q2 Revenue REPORTED $309.3M $304.0M 1.7% Q2’26 Q2’25 Growth ORGANIC1 $308.9M $304.0M 1.6% Q2’26 Q2’25 Growth NEURO INSTRUMENTS ENT3 INTERNATIONAL 1.9% 3.2% (1.9%) LOW SINGLE- DIGIT GROWTH Growth driven by Certas® Plus, CUSA® and Bactiseal® Growth due to order timing Growth in MicroFrance® ENT instruments offset by declines in other products Continued demand strength offset by supply timing Continued strong demand in Neurosurgery Q2 2026 GROWTH AND PERFORMANCE DRIVERS Q2 2026 Revenue Composition Neuro 69.0% ENT 13.3%Q2 2026 REVENUE 1 Q22026 excludes ($0.4M) in foreign exchange; Comparisons are to prior year, taking into account some shifts across the portfolio 2 Percentages based on organic revenue; Commentary represents organic performance; Comparisons are to prior year 3 Includes MicroFrance® ENT instrument and Acclarent® ENT 2 6 IART Q22026 Earnings Presentation
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WOUND RECONSTRUCTION SOLUTIONS PRIVATE LABEL INTERNATIONAL (4.1%) 4.7% LOW SINGLE- DIGIT GROWTH Strong growth in DuraSorb® and the relaunch of PriMatrix®, offset by declines in MicroMatrix® and Integra Skin due to backorder clearance for Integra Skin in Q2 2025 Primarily due to prior year comp Driven by Private Label TISSUE RECONSTRUCTION Q2 Revenue REPORTED $109.5M $111.6M (1.9%) Q2’26 Q2’25 Growth ORGANIC1 $109.4M $111.6M (2.0%) Q2’26 Q2’25 Growth Growth in DuraSorb® and PriMatrix® relaunch largely offset by prior year comparison Q2 2026 GROWTH AND PERFORMANCE DRIVERS Q2 2026 Revenue Composition ENT 13.8% Q2 2026 REVENUE 1 Q22026 excludes ($0.1M) in foreign exchange; Comparisons are to prior year; taking into account some shifts across the portfolio 2 Percentages based on organic revenue; Commentary represents organic performance; Comparisons are to prior year Wound Reconstruction Solutions 74.3% 2 7 IART Q22026 Earnings Presentation
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Balance Sheet and Cash Flow Performance Note: Adj. FCF conversion is a non-GAAP financial measure; Numbers may not add due to rounding ~$35 million improvement in 1H 2026 operating cash flow vs prior year 12/31/25 6/30/26 CASH AND CASH EQUIVALENTS $235 $214 SHORT-TERM INVESTMENTS $29 $60 TOTAL DEBT $1,859 $1,875 NET DEBT $1,596 $1,601 AVAILABLE CREDIT $252 $222 TOTAL AVAILABLE LIQUIDITY $516 $496 CONSOLIDATED TOTAL LEVERAGE RATIO 4.5X 4.1X FCF Capex (32.7%) 24.0% (21.9%) 13.5% (37.4) 25.8 108.3 59.5 Q2'25 TTM Q2'26 TTM $70.9 $85.3 (11.2) 10.5 20.1 12.3 Q2'25 Q2'26 $8.9 $22.8 SUMMARY BALANCE SHEET ($M) Adjusted FCF Conversion OPERATING CASH FLOW, FREE CASH FLOW ($M) & ADJUSTED FCF CONVERSION (%) 8 IART Q22026 Earnings Presentation
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Q3 and FY 2026 Outlook Note: Organic growth and adj. EPS are non-GAAP financial measures. ~0.4% $1,635 ~2.0% $1,654 - $1,695 ~3.8% $402 $410 - $425~0.0% Organic Growth (at mid-point) Organic Growth (at mid-point) Reaffirmed Full Year Organic Growth and Adj EPS Guidance Q3 2026 REPORTED REVENUE GUIDANCE BRIDGE ($M) FY 2026 REPORTED REVENUE GUIDANCE BRIDGE ($M) Q3 2026 $410M - $425M REPORTED Reported Growth 2.0% to 5.7% Organic Growth 1.9% to 5.7% $0.53 - $0.61 ADJUSTED EPS FY 2026 $1.654B - $1.695B REPORTED Reported Growth 1.1% to 3.7% Organic Growth 0.8% to 3.3% $2.40 - $2.50 ADJUSTED EPS 9 IART Q22026 Earnings Presentation
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Key 2026 Guidance Assumptions and Considerations REVENUE OUTLOOK ▪ 2H Revenue increase reflects normal seasonality and continued improvement in supply ▪ Reported revenue updated to reflect the FX impact of the stronger US dollar ADJUSTED GROSS MARGINS EXPECTED TO INCREASE 60 BPS VS. 2025 ▪ Driven by margin improvement initiatives, efficiencies and mix ADJUSTED EBITDA EXPECTED TO IMPROVE 100 BPS VS. 2025 ▪ Due to gross margin improvement and additional cost out initiatives KEY TARIFF ASSUMPTIONS (included in guidance) ▪ Assumes Section 122 tariffs apply through July 2026, with recently enacted Section 301 tariffs applicable for the balance of the year. ▪ Reflects a 14% tariff applied on U.S. exports to China ▪ ~10 cent full-year adj. EPS impact from tariffs TARIFF FAVORABILITY OFFSETS POTENTIAL 2H INCREMENTAL INTEREST EXPENSE ▪ Updated second half interest rate environment assumptions on variable interest rate debt ▪ Potential second half debt refinancing actions FY 2026 FX RATES ▪ EUR/USD ▪ USD/JPY ▪ USD/CNY 1.15 161 6.78 ADJ. TAX RATE 19.0% AVG. SHARES OUTSTANDING 77 – 78 MILLION 10 IART Q22026 Earnings Presentation Note: adj. EPS, adjusted gross margins and adjusted EBITDA are non-GAAP financial measures.
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APPENDIX Non-GAAP Reconciliations
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Second Quarter 2026 Financial Results (1) These are non-GAAP financial measures. Please see the slides appearing below for a reconciliation to the nearest GAAP measure. Note: Numbers may not add due to rounding 12 IART Q2 2026 Earnings Presentation % of Revenue Q2 2026 Q2 2025 Change Q2 YTD 2026 Q2 YTD 2025 Change Total Revenues $418.8 $415.6 0.8% $810.7 $798.3 1.6% Gross Margin 52.5% 50.4% +210BPS 53.9% 50.6% +330BPS Adj. Gross Margin (1) 61.3% 60.7% +60BPS 62.7% 61.4% +130BPS Net Income $4.5 ($484.1) 100.9% ($0.1) ($509.4) 100.0% Adj. Net Income(1) $43.7 $34.4 27.2% $85.3 $66.0 29.2% Adj. EBITDA Margin(1) 18.7% 17.1% +160BPS 19.1% 16.9% +220BPS Diluted Shares Out (M) 78.2 76.8 1.8% 77.6 76.7 1.2% Earnings per Share $0.06 ($6.31) 101.0% ($0.00) ($6.65) 100.0% Adj. Earnings per Share (1) $0.56 $0.45 24.4% $1.10 $0.86 27.9%
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(In millions) Q2 2026 Q2 2025 Q2 YTD 2026 Q2 YTD 2025 Neurosurgery $213.3 $209.0 $411.5 $399.9 Instruments $54.8 $53.1 $102.0 $104.0 ENT $41.2 $41.9 $78.9 $80.7 Total Specialty Surgery $309.3 $304.0 $592.4 $584.6 Wound Reconstruction Solutions $81.3 $84.7 $161.0 $159.5 Private Label $28.2 $26.9 $57.3 $54.1 Total Tissue Reconstruction $109.5 $111.6 $218.3 $213.6 Total Reported Revenues $418.8 $415.6 $810.7 $798.3 Impact of changes in currency exchange ($0.4) $0.0 ($4.9) $0.0 Revenues from acquisitions (1) $0.0 $0.0 $0.0 $0.0 Total Organic Revenues $418.3 $415.6 $805.8 $798.3 Organic Revenue Growth 0.7% -1.4% 0.9% -2.4% Second Quarter 2026 Organic Growth Reconciliation (1) Revenue from acquisitions Note: Numbers may not add due to rounding 13 IART Q1 2026 Earnings Presentation
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Second Quarter 2026 Free Cash Flow & Adjusted Free Cash Flow Conversion Reconciliations Note: Numbers may not add due to rounding 14 IART Q2 2026 Earnings Presentation (In millions) Q2 2026 Q2 2025 TTM 2026 TTM 2025 Net Cash from Operating Activities $22.8 $8.9 $85.3 $70.9 Purchases of Property and Equipment ($12.3) ($20.1) ($59.5) ($108.3) Free Cash Flow $10.5 ($11.2) $25.8 ($37.4) Adjusted Net Income $43.7 $34.4 $190.6 $171.0 Adjusted Free Cash Flow Conversion 24.0% (32.7%) 13.5% (21.9%)
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Second Quarter 2026 Adjusted EBITDA Margin Reconciliation Note: Numbers may not add due to rounding (1) Acquisition, divestiture and integration-related charges are associated with the Acclarent acquisitions and includes banking, legal, consulting, systems, and other income and expenses. 15 IART Q1 2026 Earnings Presentation (In millions) Q2 2026 Q2 2025 Q2 YTD 2026 Q2 YTD 2025 GAAP Net Income $4.5 ($484.1) ($0.1) ($509.4) Depreciation 10.2 11.0 21.4 21.4 Intangible asset amortization 27.0 26.8 54.0 53.3 Goodwill impairment charge - 511.4 - 511.4 Other (income), net (4.2) 1.5 (8.7) 1.2 Interest expense, net 18.5 16.3 36.6 30.7 Income tax expense/(benefit) 0.3 (46.9) 2.5 (51.6) Acquisition, divestiture and integration-related charges (1) 2.4 5.0 4.2 11.2 Structural optimization charges 7.5 5.9 16.8 16.6 Braintree Transition 9.9 13.6 17.6 28.4 EU Medical Device Regulation 2.4 10.7 10.3 21.6 Total of non-GAAP adjustments: 73.9 555.3 154.7 644.2 Adjusted EBITDA $ 78.4 $ 71.2 $154.6 $134.8 Total Revenues 418.8 415.6 810.7 798.3 Adjusted EBITDA Margin 18.7% 17.1% 19.1% 16.9%
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Second Quarter 2026 Adjusted EPS Reconciliation Note: Numbers may not add due to rounding (1) Acquisition, divestiture and integration-related charges are associated with the Acclarent acquisitions and includes banking, legal, consulting, systems, and other income and expenses. 16 IART Q22026 Earnings Presentation (In millions) Q2 2026 Q2 2025 Q2 YTD 2026 Q2 YTD 2025 GAAP Net Income $4.5 ($484.1) ($0.1) ($509.4) Acquisition, divestiture and integration-related charges (1) 2.4 5.0 4.2 11.2 Structural optimization charges 7.5 5.9 16.8 16.6 Braintree Transition 9.9 13.6 17.6 28.4 EU Medical Device Regulation 2.4 10.7 10.3 21.6 Goodwill impairment charge - 511.4 - 511.4 Intangible asset amortization expense 27.0 26.8 54.0 53.3 Estimated income tax impact from adjustments and other items (10.0) (54.9) (17.5) (67.1) Total of non-GAAP adjustments: 39.2 518.4 85.4 575.4 Adjusted Net Income $ 43.7 $ 34.4 $ 85.3 $ 66.0 Adjusted Diluted Net Income per Share $ 0.56 $ 0.45 $ 1.10 $ 0.86 Weighted average common shares outstanding for diluted net income from continuing operations per share 78.2 76.8 77.6 76.7
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Second Quarter 2026 Adjusted Gross Margin Reconciliation Note: Numbers may not add due to rounding (1) Acquisition, divestiture and integration-related charges are associated with the Acclarent acquisitions and includes banking, legal, consulting, systems, and other income and expenses. 17 IART Q1 2026 Earnings Presentation (In millions) Q2 2026 Q2 2025 Q2 YTD 2026 Q2 YTD 2025 Reported Gross Profit $219.7 $209.3 $436.7 $403.8 Structural optimization charges 3.4 5.2 6.0 9.5 Acquisition, divestiture and integration-related charges (1) 0.0 0.0 0.1 0.7 Braintree Transition 10.3 13.5 17.4 27.9 EU Medical Device Regulation 0.2 1.1 1.4 2.5 Intangible asset amortization expense 23.2 23.0 46.4 45.8 Adjusted Gross Profit $256.9 $252.2 $508.0 $490.1 Total Revenues $418.8 $415.6 $810.7 $798.3 Adjusted Gross Margin 61.3% 60.7% 62.7% 61.4%
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Second Quarter 2026 Adjusted SG&A Reconciliation Note: Numbers may not add due to rounding (1) Acquisition, divestiture and integration-related charges are associated with the Acclarent acquisitions and includes banking, legal, consulting, systems, and other income and expenses. 18 IART Q22026 Earnings Presentation (In millions) Q2 2026 Q2 2025 YTD 2026 YTD 2025 Reported SG&A $172.4 $179.9 $350.7 $361.4 Structural optimization charges 4.1 1.1 10.2 7.5 Acquisition, divestiture and integration-related charges (1) 1.5 4.3 2.9 10.1 Braintree Transition (0.4) 0.1 0.2 0.5 EU Medical Device Regulation 1.0 4.2 4.4 9.0 Adjusted SG&A $166.2 $170.3 $333.0 334.3 Total Revenues $418.8 $415.6 $810.7 $798.3 Adjusted SG&A (% of Revenues) 39.7% 41.0% 41.1% 41.9%
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Second Quarter 2026 Net Debt Reconciliation Note: Numbers may not add due to rounding 19 IART Q22026 Earnings Presentation ($ in millions) 6/30/2026 12/31/2025 Short-term borrowings under senior credit facility 43.6 38.8 Long-term borrowings under senior credit facility 1,736.1 1,729.6 Borrowings under securitization facility 92.6 87.8 Convertible securities - - Deferred financing costs netted in the above 2.5 3.3 Short-term Investments (59.7) (28.7) Cash & Cash Equivalents (214.4) (235.0) Net Debt $ 1,600.7 $ 1,595.6 Capitalization