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1 © 2026 PROCEPT BioRobotics Corporation. All Rights Reserved. Welcome to 2026 Analyst DayMatt BacsoVP , Investor Relations
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2 This presentation and accompanying oral presentation contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including the expected financial results of PROCEPT BioRobotics Corporation (the “Company”). Words such as “anticipates,” “believes,” “expects,” “intends,” “projects,” “anticipates,” and “future” or similar expressions are intended to identify forward-looking statements. Any forward-looking statements made by us in this presentation speaks only as of the date on which it was made and are based on management’s current expectations of future events, assumptions, estimates, and beliefs, and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those described in the forward-looking statements include, among others: (i) the rate and degree of market acceptance of the AQUABEAM and HYDROS Robotic Systems and Aquablation therapy and descriptions of the Company’s revenues, gross margin, profitability, operating expenses, or procedure growth and installed base growth, (ii) the establishment and maintenance of consistent and favorable payment policies for Aquablation therapy, (iii) the rate of growth of the commercial sales and marketing organization and the ability to manage this anticipated growth, (iv) the impact on volumes of elective procedures performed by health care providers and hospital medical device budgets, (v) the effects of increased competition as well as innovations by new and existing competitors in the market for competitive treatments, (vi) the ability to obtain the required regulatory approvals and clearances to market and sell our products in certain other countries, (vii) the development and protection of future innovation, (viii) dependence on a limited number of third-party suppliers for components of our products (ix) the maintenance of intellectual property rights and the ability to operate the business without infringing the intellectual property rights and proprietary technology of third parties, (x) the successful completion of clinical trials and (xi) the adoption of our technology for expanding or additional indications.This presentation and the accompanying oral presentation also contain estimates and other statistical data made by independent parties and by us relating to market size and growth and other data about our industry. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. In addition, projections, assumptions, and estimates of our future performance and the future performance of the markets in which we compete are necessarily subject to a high degree of uncertainty and risk.Factors that could cause actual results to differ materially from those contemplated in this presentation can be found in the Risk Factors section of the Company’s public filings with the Securities and Exchange Commission (“SEC”), including the Annual Report on Form 10-K filed with the SEC on February 26, 2026 and subsequent quarterly reports on Form 10-Q, available at www.sec.gov.Because forward-looking statements are inherently subject to risks and uncertainties, you should not rely on these forward-looking statements as predictions of future events. All statements other than statements of historical fact are forward-looking statements. Except to the extent required by law, the Company undertakes no obligation to update or review any estimate, projection, or forward-looking statement. Actual results may differ from those set forth in this presentation due to the risks and uncertainties inherent in the Company’s business. In light of the foregoing, investors are urged not to rely on any forward-looking statement or third-party data in reaching any conclusion or making any investment decision about any securities of the Company. This presentation regarding the Company shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Sales and offers to sell PROCEPT BioRobotics securities will only be made in accordance with the Securities Act of 1933, as amended, and applicable SEC regulations, including prospectus requirements. Safe Harbor Statement © 2026 PROCEPT BioRobotics Corporation. All Rights Reserved.
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3 In addition to financial information presented in accordance with U.S. generally accepted accounting principles ("GAAP"), this presentation and the accompanying oral statements include certain non-GAAP financial measures, which include non-GAAP Adjusted EBITDA. The Company defines Adjusted EBITDA as net income (loss) earnings before interest expense, taxes, depreciation and amortization and stock-based compensation expense. The Company believes that presenting Adjusted EBITDA provides useful supplemental information to investors about the Company in understanding and evaluating its operating results, enhancing the overall understanding of its past performance and future prospects, and allowing for greater transparency with respect to key financial metrics used by its management in financial and operational decision making. However, there are a number of limitations related to the use of non-GAAP measures and their nearest GAAP equivalents. For example, such measures may exclude significant expenses required by GAAP to be recognized in our financial statements. Other companies may calculate non-GAAP measures differently, or may use other measures to calculate their financial performance, and therefore any non-GAAP measures the Company uses may not be directly comparable to similarly titled measures of other companies. Non-GAAP financial measures are not a substitute for or superior to measures of financial performance prepared in accordance with GAAP and should not be considered as an alternative to any other performance measures derived in accordance with GAAP. Any non-GAAP measure is presented for supplemental informational purposes only and should not be considered a substitute for or superior to financial information presented in accordance with GAAP. A reconciliation of these measures to the most directly comparable GAAP measures is included at the end of this presentation. Use of Non-GAAP Financial Information © 2026 PROCEPT BioRobotics Corporation. All Rights Reserved.
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4 © 2026 PROCEPT BioRobotics Corporation. All Rights Reserved. The Next Chapter for PROCEPT Larry L WoodChief Executive Officer
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5 A Large, Underpenetrated BPH Market with a Disciplined Path to Growth •BPH is significantly undertreated•Many patients fear the procedure more than their condition•Delaying treatment significantly impacts QOL Aquablationpenetration~10% ~400K annual BPH surgical procedures treated or previously treated with medicationactively on medication6.7Mdiscontinued drug therapy1.1M8M ~40 MILLIONU.S. men living with BPH1. Vuichoud C, Loughlin KR. Benign prostatic hyperplasia: epidemiology, economics and evaluation. Can J Urol. 2015 Oct;22 Suppl 1:1-6. PMID: 26497338.2. Based on management estimates and data provided by AcuityMD, Dec 19, 2026 Data Release, US market estimates, Q4 2024 – Q3 2025
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6 PROCEPT Biorobotics Stands on a Strong FoundationThe Next Chapter Accelerate Procedure Growth Accelerate Procedure Growth Drive Path to Profitability Drive Path to Profitability Advance Evidence and Innovation Advance Evidence and Innovation Deep Clinical Evidence Base Deep Clinical Evidence Base Game-changingTechnology Game-changingTechnology We are now moving from establishing Aquablation® as a therapy to leading BPH treatmentData on File at PROCEPT BioRobotics
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7 Growing Procedures and Install Base Paired With Strong Reimbursement 01000020000300004000050000600002023 2024 2025Worldwide Aquablation Procedures >125K >125K Category I Reimbursement as of January 1, 2026>900 global install base patients treated worldwide Aquablation is ready to move to the standard of careData on File at PROCEPT BioRobotics
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8 Benefits of Improved Organizational Discipline DRIVE PATH TO PROFITABILITY Data on File at PROCEPT BioRobotics Two positive structural effects: Higher-than-expected ASP and improved quality and predictability of revenue 115%120%77%100%2022 - 2024 1Q25 - 3Q25 4Q25 2026% HP to Procedure $3.15$3.19$3.34$3.502022 - 2024 1Q25 - 3Q25 4Q25 2026HP Pricing ($000) +9%YOY
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9 Realignment of the Commercial Organization ACCELERATE PROCEDURE GROWTH This realignment enables a single point of accountability at the regional level and drives focus on procedure growth Distinct management structures, independent goals and incentives Clinical Procedure Support HISTORICAL MODEL Sales Support Capital REALIGNMENT Procedure TeamClinical Procedure SupportSales Support Area Vice Presidents Regional Directors Clinical Procedure Support Sales Support
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10 We Have Formed Dedicated Launch Teams HISTORICAL MODEL •Capital Rep•Strong clinical support•Strong sales support•Reimbursement support •Capital Rep•Strong clinical support•Strong sales support•Reimbursement support Capital TeamProcedure Team Launch New AccountsGrow existing procedures Launch New AccountsGrow existing procedures Capital TeamProcedure Team NEW LAUNCH TEAM MODEL
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11 We Have Formed Dedicated Launch Teams •Capital Rep•Strong clinical support•Strong sales support•Reimbursement support •Capital Rep•Strong clinical support•Strong sales support•Reimbursement supportData on File at PROCEPT BioRobotics Capital TeamProcedure Team Launch New AccountsGrow existing procedures NEW LAUNCH TEAM MODEL In pilot accounts in Q42025, we saw a ~50% reductionin time from PO to first ten cases The net result is a dedicated launch team of experts who standardize the pathway for training, reimbursement, and patient education in new accounts
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12 Greenfield Placements Remain Core to Capital Revenue ACCELERATE PROCEDURE GROWTH Alternative capital acquisition strategies enable us to expand access to additional customer groups Greenfield Placements Remain Primary DriverTargeted Replacement StrategyExploringLeasing Pilots ~70% of Greenfield unit ASP
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13 © 2026 PROCEPT BioRobotics Corporation. All Rights Reserved. Making the Clinical Case for Aquablation
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14 14 Supported by a Robust Body of Evidence WATER III WATER WATER II OPEN WATER REAL-WORLD EVIDENCE REAL-WORLD EVIDENCE ACCELERATE PROCEDURE GROWTH Data from thousands of patients published with ~250 PubMed citations
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15 Aquablation is Growing Within the BPH Category Data on File at PROCEPT BioRoboticsBased on management estimates and data provided by AcuityMD, Dec 19, 2026 DataRelease, US market estimates,Q4 2024 – Q3 2025. FY 2025 and 2026 volumes for competitive procedures are estimates based on historical data. ACCELERATE PROCEDURE GROWTH - 50,000 100,0002020 2021 2022 2023 2024 2025 2026 E*All BPH Volume Trends (Excluding TURP)RezumUroliftAquablationEnucleationGreenlightSimpleProstatectomy Aquablation trending towards becoming the leading modern surgical BPH treatment
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16 Aquablation is Closing the Gap with TURP ACCELERATE PROCEDURE GROWTH Data on File at PROCEPT BioRoboticsBased on management estimates and data provided by AcuityMD, Dec 19, 2026 DataRelease, US market estimates,Q4 2024 – Q3 2025. FY 2025 and 2026 volumes for competitive procedures are estimates based on historical data. Aquablation is now the leading resective BPH treatment – second only to TURP - 100,000 200,0002020 2021 2022 2023 2024 2025 2026 E*Resective BPH Volume TrendsAquablationEnucleationGreenlightSimpleProstatectomyTURP250,000
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17 PRIORITIZESymptom ReliefSexual Function and Continence PreservationResective Symptom ReliefPRIORITIZESexual Function and Continence PreservationNon-ResectiveTURP & PVPEnucleation & SimpleMIST A COMPLETE SOLUTION FOR BPHPVP = Photovaporization of Prostate; MIST: Minimally Invasive Surgical Technology; BPH size ranges: AUA Guidelines: Management of Lower Urinary Tract Symptoms Attributed to Benign Prostatic Hyperplasia (BPH): AUA Guideline Amendment 2023; Tanneru et al: An Indirect Comparison of Newer Minimally Invasive Treatments for Benign Prostatic Hyperplasia: A Network Meta-Analysis Model, Journal of Endourology, 2020 Aquablation Delivers a Complete Solution Across All Prostate Sizes ACCELERATE PROCEDURE GROWTH Complete Symptom ReliefPreserved Sexual and Urinary FunctionOne Procedure Only
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18 Market research data on file Non-resective procedures Medical Management Resective procedure ACCELERATE PROCEDURE GROWTH Physicians Often Take a Stepwise Approach to Treatment Physicians Start with the Least Invasive Option, Then the Next Least Invasive Option
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19 ACCELERATE PROCEDURE GROWTH 68%64%58%51%49%33%26%23%22%19%18%17%17%17%13%6% Most Important Factors Impacting Which Surgery to Choose Q31. Of these factors, which are the top five most important to you personally in terms of choosing which procedure/surgery to get for your BPH/enlarged prostate? (Select 5) N = 250 Risk of bladder control issues after surgeryMinimizing the likelihood of needing another procedure/surgeryMagnitude of symptom reliefRecovery time and easeRisk of erectile dysfunctionRisk of needing a catheter after surgery (for 1-3 days)Risk of "dry ejaculation" The specific mechanism of action (how the procedure is performed)Whether prostate tissue is physically removed during the procedure or notReviews from other patientsIf general anesthesia is required or notWhether small implants are left inside my body or not# of years of clinical data availableWhere the procedure is performed (e.g., hospital, doctor's office, etc.)Whether an overnight hospital stay is required or notWhether a robotic arm is used to assist the surgeon or not
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20 These procedures involve a 24F catheter in the urethra – no one wants that more than once These procedures involve a 24F catheter in the urethra – no one wants that more than once Patients deserve to have a second intervention Patients deserve to have a procedure that offers a complete solution with thebest opportunity to avoid a second intervention ACCELERATE PROCEDURE GROWTH
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21Rubin B, et al. National review of re-operation rates for modern benign prostatic hyperplasia procedures using a live claims database. Abstract IP03-06.Study Design: Retrospective observational study utilizing the TriNetX database (2004–2024), AUA 2025 from University of Vermont 100%95%90%85%80%75%1032 54 76 9810 Simple ProstatectomyHoLEPTURPTime after index procedure (years)PVP Re-operation-free rate (%)PAEAquablation RezūmUroLiftPatients Want One Procedure Only REFERENCE STANDARD
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22 © 2026 PROCEPT BioRobotics Corporation. All Rights Reserved. Our Innovation Portfolio
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23 •AI-Interpreted Live Ultrasound Guidance:Personalized treatment planning combined with surgeon judgment•Robotic Resection: Precise, reproducible tissue removal while protecting critical anatomy•Designed for Scalable Adoption: Streamlined workflow that enables broader adoption across care settings •AI-Interpreted Live Ultrasound Guidance:Personalized treatment planning combined with surgeon judgment•Robotic Resection: Precise, reproducible tissue removal while protecting critical anatomy•Designed for Scalable Adoption: Streamlined workflow that enables broader adoption across care settings HYDROS®System: Next Generation Robotic Platform HYDROS: The First AI-Enabled Robotic Platform for BPH ADVANCE EVIDENCE AND INNOVATION HYDROS is a feature-rich platform that enables a hybrid case support model
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24 24 ADVANCE EVIDENCE AND INNOVATION We expectHYDROS to represent the majority of the install base by the end of 2026 Global expansion of HYDROS underway –UK launch has begun Continued pipeline investment International represents an untapped opportunity and a more meaningful growth contributor over timeData on File at PROCEPT BioRobotics
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25 The Next Frontier: Prostate Cancer ADVANCE EVIDENCE AND INNOVATION •Technology•Installed Base•Commercial InfrastructureProstateCancer A Strategic Adjacency Aquablation PCa
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26 This is an Area That is Very Familiar To Me Open Heart Surgery (AVR) Open Heart Surgery (AVR) Transcatheter Valve Replacement (TAVR) Transcatheter Valve Replacement (TAVR) Watchful waiting was common until the suffering became unbearable Watchful waiting was common until the suffering became unbearable
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27 ADVANCE EVIDENCE AND INNOVATION The fastest growing treatment for prostate cancer :ACTIVE SURVEILLANCE! Trends in Active Surveillance for Men With Intermediate-Risk Prostate Cancer. Marshall et al. JAMA 2024; Hamdy, F. C., Donovan, J. L., Lane, J. A., Metcalfe, C., Davis, M., Turner, E. L., Martin, R. M., et al. (2023). Fifteen-Year Outcomes after Monitoring, Surgery, or Radiotherapy for Prostate Cancer. New England Journal of Medicine, 388(17), 1547–1558. DOI: 10.1056/NEJMoa2214122. Donovon et al NEJM 2016; 2. Bridge et al Eur Urol Open Sci 2024 Majority of men experiencesevere erectile dysfunction 25-33% rate of Urinary Incontinence at 1 year Radical Prostatectomy >60% of patients ultimately get treated with a radical prostatectomy or radiation
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28 We believe Aquablation will play a meaningful role in the treatment of prostate cancer
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29 Prostate Cancer Opportunity Expand Applications Drive Procedure Growth Through Improved Execution Aquablation penetration ~10% ~40 MILLIONU.S. men living with BPHtreated or previously treated with medicationactively on medication6.7Mdiscontinued drug therapy1.1M8M~400K annual BPH surgical procedures ~40 MILLIONU.S. men living with BPHtreated or previously treated with medicationactively on medication6.7Mdiscontinued drug therapy1.1M8M~400K annual BPH surgical procedures Educate Patients That Waiting Isn't WinningMultiple Initiatives to Drive Differentiated Growth Across the Horizon 1. Vuichoud C, Loughlin KR. Benign prostatic hyperplasia: epidemiology, economics and evaluation. Can J Urol. 2015 Oct;22 Suppl 1:1-6. PMID: 26497338.2. Based on management estimates and data provided by AcuityMD, Dec 19, 2026 Data Release, US market estimates, Q4 2024 – Q3 2025
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30 © 2026 PROCEPT BioRobotics Corporation. All Rights Reserved. Unlocking Growth: A Closer LookPooja Sharma RaoChief Marketing and Strategy Officer
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31 •Sales force realignment•Dedicated launch teams •Share capture through strong clinical differentiation•Targeted patient education and engagement programsDriving an Acceleration in Procedure GrowthThe Next Chapter: Accelerate Procedure Growth Accelerate Procedure Growth Drive Path to Profitability Drive Path to Profitability Advance Evidence and Innovation Advance Evidence and Innovation Accelerate Procedure Growth The Pathway to Growth The engine around BPH lays a foundation on which we can launch a prostate cancer application
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32 We Believe This is an Important Inflection Point >125K >125K Category I Reimbursement >900 global install base patients treated worldwide WATER WATER II WATER III REAL-WORLD EVIDENCE OPEN WATER REAL-WORLD EVIDENCE Maturing body of evidenceData on File at PROCEPT BioRobotics
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33 Our Approach Starts Intentionally with Building Belief in Aquablation with Clinicians and Practices Patients need to encounter physicians and care teams who believe in the differentiation of Aquablation therapy This sequencing reflects lessons learned Establish the therapyBecome the Procedure of ChoiceTargeted patient education as an accelerant
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34 Our Immediate Focus: Improve Penetration of Aquablation into the Surgical Segment Grounded in what patients want, Aquablation delivers a COMPLETE BPH solution, supported by a mature and growing body of clinical evidenceAquablationpenetration~10% ~40 MILLIONU.S. men living with BPHtreated or previously treated with medicationactively on medication6.7Mdiscontinued drug therapy1.1M8M~400K annual BPH surgical procedures1. Vuichoud C, Loughlin KR. Benign prostatic hyperplasia: epidemiology, economics and evaluation. Can J Urol. 2015 Oct;22 Suppl 1:1-6. PMID: 26497338.2. Based on management estimates and data provided by AcuityMD, Dec 19, 2026 Data Release, US market estimates, Q4 2024 – Q3 2025
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35 PATIENTS WANT:Preserved Sexual andUrinary Function 2 PATIENTS WANT:One Procedure Only 3 Aquablation is a COMPLETE Solution for BPH patients Aquablation is a COMPLETE Solution for BPH patients PATIENTS WANT:Complete Symptom Relief 1 Market research data on file
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36 05101520253035 IndiaWATERWATER IIOPEN WATERFRANCAIS WATERLarge Prostates, HelfandJacksonvilleLebanonHong KongStanfordMontreal ASCFreiburgMount SinaiJapan PMSMadridPotomacHamburg Mild(0-7)Moderate(8-19)Severe(20-35)Baseline 1-6 Month 1 Year 2 Year 3 Year 4 Year 5 Year Symptom Reduction: International Prostate Symptom Score Results India, 20-118, n=47, Desai et al; WATER, 30-80ml, n=116, Gilling et al; Urodynamics, 30-80ml, n=43, Pimentel et al; WATER II, 80-150ml, n=101, Bhojani et al; OPEN WATER, 20-148ml, n=178, Bach et al; FRANCAIS WATER, 30-80ml, n=30, Misrai et al; Focal Bladder Neck Cautery, 20-263ml, n=2,089, Elterman et al; HoLEP vs Aquablation Hematuria Risk, 56±25ml, n=167, Gloger et al; Very Large Prostates, 151-362ml, n=36, Helfand et al; Jacksonville, 27-223ml, n=55, Kasraeian et al; Lebanon, 13-148ml, n=59, Labban et al; Hong Kong AUR, 61±16ml, n=20, Yee et al; Stanford AUR and CUR, 29-250ml, n=113, Burton et al; UK Day Case, 22-120ml, n=40, Ng et al; Montreal ASC, 41-270ml, n=60, Zorn et al; Freiburg Aquablation vs HoLEP, 55±19ml, n=16, Michaelis et al; Mount Sinai, 38-330ml, n=330, Omidele et al; Hamburg, 20-154ml, n=118, Bach et al; Japan PMS, 33-242ml, n=103, Hinata et al; Madrid Aquablation vs HoLEP, 72±35ml, n=75, Quintas et al; Potomac Urology, 22-263ml, n=812, Marhamati et al; Aquablation 5 Year Trend, 20-657, n=36,555, Elterman et al
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37050100150200250300350400450 IndiaWATERWATER IIOPEN WATERFRANCAIS WATERStanfordMontreal ASCFreiburgMount SinaiJapan PMSMadridHamburgBaseline 1-6 Month 1 Year 2 Year 3 Year 4 Year 5 Year Post Void Residual Results •PVR: Urine left in the bladder after voiding •BPH: Chronic obstruction forces bladder to work harder and over time impairs bladder function•Why PVR matters: Lower PVR = better emptying, reduced risk of infection•Aquablation removes the obstructionIndia, 20-118, n=47, Desai et al; WATER, 30-80ml, n=116, Gilling et al; Urodynamics, 30-80ml, n=43, Pimentel et al; WATER II, 80-150ml, n=101, Bhojani et al; OPEN WATER, 20-148ml, n=178, Bach et al; FRANCAIS WATER, 30-80ml, n=30, Misrai et al; Focal Bladder Neck Cautery, 20-263ml, n=2,089, Elterman et al; HoLEP vs Aquablation Hematuria Risk, 56±25ml, n=167, Gloger et al; Very Large Prostates, 151-362ml, n=36, Helfand et al; Jacksonville, 27-223ml, n=55, Kasraeian et al; Lebanon, 13-148ml, n=59, Labban et al; Hong Kong AUR, 61±16ml, n=20, Yee et al; Stanford AUR and CUR, 29-250ml, n=113, Burton et al; UK Day Case, 22-120ml, n=40, Ng et al; Montreal ASC, 41-270ml, n=60, Zorn et al; Freiburg Aquablation vs HoLEP, 55±19ml, n=16, Michaelis et al; Mount Sinai, 38-330ml, n=330, Omidele et al; Hamburg, 20-154ml, n=118, Bach et al; Japan PMS, 33-242ml, n=103, Hinata et al; Madrid Aquablation vs HoLEP, 72±35ml, n=75, Quintas et al; Potomac Urology, 22-263ml, n=812, Marhamati et al; Aquablation 5 Year Trend, 20-657, n=36,555, Elterman et al
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38 Elterman D, Gilling P, Boehrborn C et al, Meta-analysis with individual data of functional outcomes following Aquablation for lower urinary tract symptoms due to BPH in various prostate anatomies. BMJ Surg Interv Health Technologies 2021.
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40 <1% incontinence <1% EDAggregated data from 18 publications. References and analysis methodology in appendix.
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41 <1% incontinence <1% EDAggregated data from 18 publications. References and analysis methodology in appendix.;Bitar M, et al. Aquablation for benign prostatic hyperplasia: real-world prostate size relevance and bleeding events across 6 years. BJU Int. 2026;137(3):480–484. doi:10.1111/bju.70118 transfusion rate
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42Rubin B, et al. National review of re-operation rates for modern benign prostatic hyperplasia procedures using a live claims database. Abstract IP03-06.Study Design: Retrospective observational study utilizing the TriNetX database (2004–2024), AUA 2025 from University of Vermont 100%95%90%85%80%75%1032 54 76 9810 Simple ProstatectomyHoLEPTURPTime after index procedure (years)PVP Re-operation-free rate (%)PAEAquablation RezūmUroLiftPatients Want One Procedure Only REFERENCE STANDARD
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43 PATIENTS WANT:Preserved Sexual andUrinary Function 2 PATIENTS WANT:One Procedure Only 3 Aquablation is a COMPLETE Solution for BPH patients Aquablation is a COMPLETE Solution for BPH patients PATIENTS WANT:Complete Symptom Relief 1 Market research data on file
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44 Improving Penetration of Aquablation Within the Surgical Segment Aquablation penetration ~10% ~40 MILLIONU.S. men living with BPHtreated or previously treated with medicationactively on medication6.7Mdiscontinued drug therapy1.1M8M~400K annual BPH surgical procedures Misalignment: In patient priorities and physician assumptionsSurgeon Comfort With Legacy Procedures 12 We see both as opportunities and responsibilities to lead through education and executionData Analysis on File at PROCEPT BioRobotics
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45 A Complete BPH Solution Through the Lens of What Matters Most to Patients
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46 Operationalizing Our Clinical Differentiation•Selling tools •Packaged research insights highlighting what BPH patients prioritize •Peer-to-peer education programs Standardize and strengthen the message Operationalize that message:
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47 Improving Penetration of Aquablation Within the Surgical Segment Aquablation penetration ~10% ~40 MILLIONU.S. men living with BPHtreated or previously treated with medicationactively on medication6.7Mdiscontinued drug therapy1.1M8M~400K annual BPH surgical procedures Misalignment: In patient priorities and physician assumptionsSurgeon Comfort With Legacy ProceduresLow Patient Awareness: Minimal awareness of Aquablationas a differentiated option 123 1-2% unaided awareness for BPH patientsData Analysis on File at PROCEPT BioRobotics
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48 We Start With Patients Considering Alternative Surgical Options Aquablation penetration ~10% ~40 MILLIONU.S. men living with BPHtreated or previously treated with medicationactively on medication6.7Mdiscontinued drug therapy1.1M8M~400K annual BPH surgical procedures OBJECTIVE: Share capture within existing surgical market APPROACH:• In-practice education tools (treatment comparison guides, short videos for consult rooms)• Digital ads for patients searching surgical terms• Patient testimonials reinforcing clinical differentiation Data Analysis on File at PROCEPT BioRobotics
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49Data Analysis on File at PROCEPT BioRoboticsBortnick EM, Simma-Chiang V, Kaplan SA. Long-term Consequences of Medical Therapy for Benign Prostatic Hyperplasia. Rev Urol. 2019;21(4):154-157. Then Expand to Dissatisfied Medically Managed Patients Aquablation penetration ~10% ~40 MILLIONU.S. men living with BPHtreated or previously treated with medicationactively on medication6.7Mdiscontinued drug therapy1.1M8M~400K annual BPH surgical procedures Tamsulosin: Alpha BlockersShort-term side effects include:•Dizziness; Fatigue; Ejaculatory changes Long-term side effects include:•Sexual side effects continue Finasteride: 5-alpha reductase inhibitors (5-ARIs)Short-term side effects include:•Erectile dysfunctionLong-term side effects include:•Sexual adverse effects may persist Contemporary studies suggest BPH medications may negatively affect mental and psychological status, sexual function, and overall health Combination Therapy
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50 Then Expand to Dissatisfied Medically Managed Patients Aquablation penetration ~10% ~40 MILLIONU.S. men living with BPHtreated or previously treated with medicationactively on medication6.7Mdiscontinued drug therapy1.1M8M~400K annual BPH surgical procedures OBJECTIVE:Educate patients already frustrated with medication and under care of a urologist • Digital engagement (social media, search, educational email)• Symptom self-assessment tools• Geo-targeted digital ads around Aquablationcenters• Direct-to-consult scheduling linksAPPROACH: Data Analysis on File at PROCEPT BioRobotics
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51 Then Expand to Dissatisfied Medically Managed Patients ~20%Of BPH PatientsRequest specific BPH procedures by name Aquablation penetration ~10% ~40 MILLIONU.S. men living with BPHtreated or previously treated with medicationactively on medication6.7Mdiscontinued drug therapy1.1M8M~400K annual BPH surgical procedures >70%Of UrologistsConsider patient requests if efficacy is similarData Analysis on File at PROCEPT BioRobotics
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52 Long-Term, We Can Broaden Our Educational Efforts Aquablation penetration ~10% ~40 MILLIONU.S. men living with BPHtreated or previously treated with medicationactively on medication6.7Mdiscontinued drug therapy1.1M8M~400K annual BPH surgical procedures OBJECTIVE:Build broader awareness only after conversion pathways are validated APPROACH:• Broader therapy development campaigns• Patient webinars & community education Data Analysis on File at PROCEPT BioRobotics
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53 Prostate Cancer Opportunity Expand Applications Drive Procedure Growth Through Improved Execution Aquablation penetration ~10% ~40 MILLIONU.S. men living with BPHtreated or previously treated with medicationactively on medication6.7Mdiscontinued drug therapy1.1M8M~400K annual BPH surgical procedures ~40 MILLIONU.S. men living with BPHtreated or previously treated with medicationactively on medication6.7Mdiscontinued drug therapy1.1M8M~400K annual BPH surgical procedures Educate Patients That Waiting Isn't WinningMultiple Initiatives to Drive Differentiated Growth Across the Horizon 1. Vuichoud C, Loughlin KR. Benign prostatic hyperplasia: epidemiology, economics and evaluation. Can J Urol. 2015 Oct;22 Suppl 1:1-6. PMID: 26497338.2. Based on management estimates and data provided by AcuityMD, Dec 19, 2026 Data Release, US market estimates, Q4 2024 – Q3 2025
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54 © 2026 PROCEPT BioRobotics Corporation. All Rights Reserved. Prostate Cancer: Our Next FrontierBarry TemplinChief Technology Officer
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55 55 1. Johnson et al Cancer 2019>40% of patients with GG2 cancer on one side of the prostate had unidentified GG2 canceron the other side at final pathology1 Prostate Cancer Is A Multifocal Disease Requiring A Whole Gland Treatment Visible on MRINot visible on MRI Prostate cancer is not a focal disease, and focal treatment is limited Prostate cancer is not a focal disease, and focal treatment is limited
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56 Methodical Approach in Evidence Development WATER IVPRCT001.BRetrospective StudyPRCT002Endeavor Health SeriesPRCT001.AProspective Randomized TrialProspective, FoundationalRetrospective, FoundationalProspective, FoundationalRetrospective, FoundationalProspective, FeasibilityGG 1-3 RCT vs RPGG 1-3Salvage RP in previous AquablationpatientsGG 1 – 2GG 1GG 1 – 2Cancer Patient Profile28011914221,4455Cohort Size (n=)Pivotal study for efficacy & safetyProcedural development & cancer progressionEvidence that salvage RP is feasible following an AquablationBPH or PCaprocedureProcedural safety & cancer progression precursor to WATER IVCancer progression characterizationSafety and CTC characterizationPrimary Research AimRP = Radical Prostatectomy CTC = circulating tumor cells GG = Grade Group RCT = Randomized Control Trial FEASABILITY FOUNDATIONAL PIVOTAL
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57 A Typical BPH Surgical Technique: Planning Aquablation BPH
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58 Sagittal viewBPH Resection With Aquablation Results in a Large Unobstructed Channel BLADDER
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59 Transverse viewBPH Resection With Aquablation Results in a Large Unobstructed Channel
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60 MRI Details to Help Inform Surgical ApproachPlanning for a Prostate Cancer Case with Aquablation Aquablation PCa
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61 Aquablation for Prostate Cancer Achieves Whole Gland Resection While Sparing the Capsule
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62 Aquablation's Versatility Can Deliver an Appropriate Procedure for both BPH and PCa Patients
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63 MRI Confirmation of Tissue RemovalPost Aquablation Prostate Cancer Resection: 6M MRI Axial T2-weighted High–b Value Diffusion-Weighted
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64 We Are Taking a Methodical Approach in Evidence Development FEASABILITY FOUNDATIONAL PIVOTAL WATER IVPRCT001.BRetrospective StudyPRCT002Endeavor Health SeriesPRCT001.AProspective Randomized TrialProspective, FoundationalRetrospective, FoundationalProspective, FoundationalRetrospective, FoundationalProspective, FeasibilityGG 1-3 RCT vs RPGG 1-3Salvage RP in previous AquablationpatientsGG 1 – 2GG 1GG 1 – 2Cancer Patient Profile28011914221,4455Cohort Size (n=)Pivotal study for efficacy & safetyProcedural development & cancer progressionEvidence that salvage RP is feasible following an AquablationBPH or PCaprocedureProcedural safety & cancer progression precursor to WATER IVCancer progression characterizationSafety and CTC characterizationPrimary Research AimRP = Radical Prostatectomy CTC = circulating tumor cells GG = Grade Group RCT = Randomized Control Trial
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65RP = Radical Prostatectomy CTC = circulating tumor cells GG = Grade Group RCT = Randomized Control Trial WATER IVPRCT001.BRetrospective StudyPRCT002Endeavor Health SeriesPRCT001.AProspective Randomized TrialProspective, FoundationalRetrospective, FoundationalProspective, FoundationalRetrospective, FoundationalProspective, FeasibilityGG 1-3 RCT vs RPGG 1-3Salvage RP in previous AquablationpatientsGG 1 – 2GG 1GG 1 – 2Cancer Patient Profile28011914221,4455Cohort Size (n=)Pivotal study for efficacy & safetyProcedural development & cancer progressionEvidence that salvage RP is feasible following an AquablationBPH or PCaprocedureProcedural safety & cancer progression precursor to WATER IVCancer progression characterizationSafety and CTC characterizationPrimary Research Aim FEASABILITY FOUNDATIONAL PIVOTAL We Are Taking a Methodical Approach in Evidence Development PRCT001.AProspective, FeasibilityGG 1 – 25Safety and CTC characterization
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66RP = Radical Prostatectomy CTC = circulating tumor cells GG = Grade Group RCT = Randomized Control Trial WATER IVPRCT001.BRetrospective StudyPRCT002Endeavor Health SeriesPRCT001.AProspective Randomized TrialProspective, FoundationalRetrospective, FoundationalProspective, FoundationalRetrospective, FoundationalProspective, FeasibilityGG 1-3 RCT vs RPGG 1-3Salvage RP in previous AquablationpatientsGG 1 – 2GG 1GG 1 – 2Cancer Patient Profile28011914221,4455Cohort Size (n=)Pivotal study for efficacy & safetyProcedural development & cancer progressionEvidence that salvage RP is feasible following an AquablationBPH or PCaprocedureProcedural safety & cancer progression precursor to WATER IVCancer progression characterizationSafety and CTC characterizationPrimary Research Aim FEASABILITY FOUNDATIONAL PIVOTAL We Are Taking a Methodical Approach in Evidence Development PRCT001.AProspective, FeasibilityGG 1 – 25Safety and CTC characterization PRCT001.BProspective, FoundationalGG 1-3119Procedural development & cancer progression Enrollment for PRCT001 Now Complete
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67RP = Radical Prostatectomy CTC = circulating tumor cells GG = Grade Group RCT = Randomized Control Trial WATER IVPRCT001.BRetrospective StudyPRCT002Endeavor Health SeriesPRCT001.AProspective Randomized TrialProspective, FoundationalRetrospective, FoundationalProspective, FoundationalRetrospective, FoundationalProspective, FeasibilityGG 1-3 RCT vs RPGG 1-3Salvage RP in previous AquablationpatientsGG 1 – 2GG 1GG 1 – 2Cancer Patient Profile28011914221,4455Cohort Size (n=)Pivotal study for efficacy & safetyProcedural development & cancer progressionEvidence that salvage RP is feasible following an AquablationBPH or PCaprocedureProcedural safety & cancer progression precursor to WATER IVCancer progression characterizationSafety and CTC characterizationPrimary Research Aim We Are Taking a Methodical Approach in Evidence Development FEASABILITY FOUNDATIONAL PIVOTAL Endeavor Health SeriesRetrospective, FoundationalGG 11,445Cancer Progression characterization PRCT001.AProspective, FeasibilityGG 1 – 25Safety and CTC characterization PRCT001.BProspective, FoundationalGG 1-3119Procedural development & cancer progression
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68 ENDEAVOR Health Series: Aquablation Significantly Slowed the Progression of Cancer By removing a moderate amount of prostate tissue, Aquablationdelayed the natural progression of cancer in this study 44%Fewer upgradesat 5 years compared to Active surveillance
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69 The PRCT001 Study: Demographics Reflected the Typical Profile of PCa Where Majority of Patients Had Cancer in the Peripheral Zone Patient DemographicsAnatomy & Procedure Details 124Prostate Cancer Patients Treated 90Patients with 6 mo follow up 37Patients with 12 mo follow up 66.4 ±6.7Age (years old)Grade-Group36% (44/124)GG161% (76/124)GG23% (4/124)GG377% (95/124)Patients with MR visible lesion (≥PIRADS 3)100% (124/124)Percent Patients with IPSS ≥ 817.4 ±6.7IPSS 65.3 ± 31.5Prostate Vol. AvgCancer Location32% (24/75)Transitional Zone57% (43/75)Peripheral Zone7% (5/75)Transitional Zone + Peripheral Zone4% (3/75)Zone not specified1.3 ± 1.1LOS (days)2.3 ± 2.2Cath Duration (days)
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70 Radical ProstatectomyAFU STUDY2Radical ProstatectomyPROTECT STUDY1 PRCT001 Study: Aquablation Patients Had Stable Erectile Function Through 12 MonthsSHIM Score1. Donovon et al NEJM 2016; 2. Ploussard et al 2024; 3. Data on fileThe Sexual Health Inventory for Men (SHIM) is a 5-item, validated questionnaire (also known as IIEF-5) used by urologists to assess erectile dysfunction (ED) severity, with total scores rangingfrom 1 to 25. A score of 21 or less suggests ED, categorized as: 22-25 (None), 17-21 (Mild), 12-16 (Mild-moderate), 8-11 (Moderate), and 1-7 (Severe). 19.06.0Baseline 6 months 12 months 16.04.15.50510152025Baseline 6 months 12 months Aquablation3 16.716.217.5Baseline 6 months 12 months Avg age = 66 Avg age = 65 Avg age = 62 Moderate ED Severe ED
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71 Radical ProstatectomyTrueNTH STUDY2Radical ProstatectomyPROTECT STUDY1The PRCT001 Study: Aquablation Patients Had Low and Sustained Rates of Urinary Incontinence Out to 12 Months 1. Donovon et al NEJM 2016; 2. Bridge et al Eur Urol Open Sci 2024; 3. Data on file.2462601020304050Baseline 6 months 12 months% Pad Use435Baseline 6 months 12 months Aquablation3 030Baseline 6 months 12 months Avg age = 66 Avg age = 64 Avg age = 62
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72 The PRCT001 Study: Aquablation Patients Had An Additional Benefit of BPH Symptom Reduction Moderate(8-19)Severe(20-35) 17.47.76.65.705101520253035Baseline 3 month 6 month 12 month IPSS Total Score Achievement of low IPSS score at follow-upMild(0-7)
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73 989694933 mo. 6 mo. 9 mo. 12 mo. 97940204060801003 mo. 6 mo. 9 mo. 12 mo.Freedom from Salvage (%) 100 10093 933 mo. 6 mo. 9 mo 12 mo. Aquablation3Radical ProstatectomyAFU STUDY2Radical ProstatectomyUCSF1 1. Szymaniak et al 2023; 2. Ploussard et al 2024; 3. Data on file The PRCT001 Study: Freedom from Additional (Salvage) Treatment in Aquablation vs Published Radical Prostatectomy Data
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74 Trial design WATER IV PCa: Aquablation vs. Prostatectomy RCT Ten Year Follow-up with Annual Comparative Analyses Ten Year Follow-up with Annual Comparative Analyses 6-MonthEndpointFDA Analysis 6-MonthEndpointFDA Analysis 12-MonthKey Secondary Endpoint 12-MonthKey Secondary EndpointCo-Primary Endpoints: •Incontinence (pad use) •ErectileDysfunctionLong term follow-up will capture the expected true benefit of Aquablation: Harm reduction when Aquablation is the first treatment as opposed to prostatectomy Annual Secondary Endpoint Evaluations Compare:•PSA, cancer progression, salvage treatment risk•Time with incontinence and erectile dysfunction•Quality of life changesNo GG* Progression: •Biopsy based•Aquablationarm only Follow-up continues regardless of additional treatments AquablationN = 210Year 10 Follow-up continues regardless of additional treatments Follow-up continues regardless of additional treatments Radical ProstatectomyN = 70Year 10 280 PatientsLocalized Prostate CancerGrade Group (GG) 1-3 3:1 Randomization
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75 One year of enrollment progressWATER IV CLINICAL TRIAL On pace to complete all procedures by mid-2026significantly faster than anticipated Goal: 280 randomized patients Goal: 280 randomized patients 31 global centers recruiting as we exited 2025 31 global centers recruiting as we exited 2025 Averaging <60 days from consent to treatment Averaging <60 days from consent to treatment
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76 Our Technology Enables Expanded Applications Beyond BPH FutureAI algorithm improvement Expanded patient applications
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77 We Believe Aquablation Will Play an Important Role in Treatment of Prostate Cancer1Prostate Cancer is a multi-focal disease that requires a whole gland treatmentWe are the First Company Growing body of clinical evidence supports Aquablation can become a frontline option32Aquablation therapy can treat the whole gland including the peripheral zoneTo receive FDA-IDE approval to enroll a randomized trial comparing surgical therapy vs. radical prostatectomy
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78 © 2026 PROCEPT BioRobotics Corporation. All Rights Reserved. Financial UpdateKevin WatersChief Financial Officer
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79 Strong track record of driving growth, expanding margins and scaling efficiently $75$136$225$3092022 2023 2024 2025Total Revenue($M) Revenue+60% CAGR 49.4%52.2%61.1%63.7%2022 2023 2024 2025Gross Margin(%) Margin Expansion14.3pts $68.0$86.5$60.1$50.22022 2023 2024 2025EBITDA Loss*($M) Improved Operating Leverage*Adjusted EBITDA is a financial measure that is not prepared in accordance with generally accepted accounting principles in the United States (GAAP). For more information about the Company’s use of non-GAAP financial measures, please see appendix
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80 Aquablation remains significantly underpenetrated in the U.S. Procedure+80% CAGR 7.416.527.843.32022 2023 2024 2025U.S. Procedures(000) 1673155057182022 2023 2024 2025Ending Install BaseInstall Base+63% CAGR ~10% market penetration1,2~25% market penetration1,2Market penetration estimates calculated based on market size from the following sources1. Vuichoud C, Loughlin KR. Benign prostatic hyperplasia: epidemiology, economics and evaluation. Can J Urol. 2015 Oct;22 Suppl 1:1-6. PMID: 26497338.2. Based on management estimates and data provided by AcuityMD, Dec 19, 2026 Data Release, US market estimates, Q4 2024 – Q3 2025
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81 © 2026 PROCEPT BioRobotics Corporation. All Rights Reserved. Financial Outlook
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82 2026 – 2027: Key Financial Metrics Improved operating leverage •2026 adjusted EBITDA1,2lossguidance of $30 to $17 million•2027 adjusted EBITDA1,2gainof $25 to $30 million Expanding gross margins•2026 gross margin65%1. •Targeting 2027 gross margin range of68% to 70%1•HP margin will be tailwind to corporate gross margin expansion 1. 2026 + 2027 financial guidance issued on February 26, 20262. Adjusted EBITDA is a financial measure that is not prepared in accordance with generally accepted accounting principles in the United States (GAAP). For more information about the Company’s use of non-GAAP financial measures, please see appendix •2026 revenue guidance1of $390 to $410 million, representing growth of 27% to 33%•25% to 30% annual revenue growth in 20271driven by increased procedure growth from new and existing accounts, and Hydrosreplacement cycle as legacy AquaBeam systems age Strong Revenue Growth
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83 Scalable Revenue Growth DriversCommercial execution to drive strong revenue growth •Incentivize organic, same facility procedure growth•Activate New Account Launch Teams•Handpiece Pricing Discipline•Initiate Replacement Cycle•Exploreoperating lease pilots to expand into additional customer groups Strong Revenue GrowthExpanding gross marginsImproved operating leverage
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84 2026 Revenue Guidance*$390M to $410MTotal Revenue$340M to $359MU.S. Revenue$50M to $51MInt’l Revenue $95M to $100MSystem Revenue~$24MService Revenue60,000 to 64,000Procedures$221M to $235MHandpiece + Other Consumable Revenue$3,500Handpiece PriceHPs sold to align with procedure volumes*2026 financial guidance issued on February 25, 2026
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85 2026 Guidance* Assumes 1:1 HP to Procedure ratio Handpiece ordering should more closely track procedure volume going forward 2.97.416.527.843.32021 2022 2023 2024 2025U.S. Procedures(000) 3.38.418.632.346.62021 2022 2023 2024 2025U.S. Handpieces(000) 115%108%100%2021-2024 2025 2026% Handpieces to Procedures *2026 financial guidance issued on February 25, 2026
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86 2026 Procedure Contribution Breakdown to Achieve Low End of Guidance Range* 2025 2026 Procedure Contribution by Cohort~43,000~7,000~36,000~14,000~38,000~8,000~60,0002025 Cohort will have full year contribution in calendar 2026Withlaunches occurring throughout the year, the 2026 cohortcontributes for only about half the year2026 guidance assumes only a modest additional benefit from Launch Teams compared to prior years’ launch contributions2026 Ending Install Base by Cohort505Systems sold pre-2025213Systems sold In 2025208-213Systems sold Guidance In 2026 ~45% of systems sold are still naturally maturing in 2026*2026 financial guidance issued on February 25, 2026
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87 2026 Revenue Build by Segment*$308 $3082025 2026 Annual Revenue($M)$410Low-endHigh-end2025 BaseActualGuidance$390Factors To Achieve Low-End RangeModest utilization growth in legacy install baseNormal procedure contribution from new account launchesFlat New System RevenueHandpiece Pricing BenefitInternational revenue*2026 financial guidance issued on February 25, 2026Factors To Achieve High-end RangeImproved organic procedure growth in legacy install baseBetter than expected replacement salesIncremental procedural tailwinds from Launch Team
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88 HP pricing will be meaningful revenue tailwind in 2026* $3.12$3.18$3.22$3.502023 2024 2025 2026 HP Pricing Trends($000) +9% •Improved pricing discipline•Increased HP list price on January 1, 2026•Future gross margin tailwind*2026 financial guidance issued on February 25, 2026
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89 89 Global Revenue Profile* $224.47$3082024 2025 2026 2027+65%+37%+27% to 33%$390 - $410+25% to 30%•Growing U.S. Install Base•Increased Replacement Revenue•Stable handpiece & system pricing •Continued penetration of UK + Japan market2027 Revenue DriversGlobal Revenue ($ mil) *2026 + 2027 financial guidance issued on February 26, 2026
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90 90 Long Term Profitability and EBITDA Expansion 90
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91 Clear Path to ProfitabilityOperational Efficiencies Driven by •HP revenue mixwill be meaningful tailwind to corporate gross margin expansion•Disciplined HP pricing •Targeting R&D as percent of sales ratio of mid-teens long-term•Introduce hybrid clinical support model to scale sales force long-term Strong Revenue GrowthExpanding gross marginsImproved operating leverage
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92 How to Achieve 68% to 70% gross margin by 2027*...Annual Gross Margin Targets 64%65%68-70%2025 2026 2027•Declining mix of system revenue will reduce pressure on multi-year gross margin expansion•Chinese ultrasound supplier is largest tariff exposure CapitalWorking with suppliers to onshore manufacturingTariff exposure expected to stabilize in 20272025 – $1.3M 2026E – $5M to $6M 2027E - $6MTariff MitigationStrategy •Favorable Unit Margin•HP revenue will be tailwind to multi-year gross margin expansion as percent of global revenue increasesHandpiece *2026 + 2027 financial guidance issued on February 26, 2026
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93 R&D spend will remain robust, but will be meaningful source of future operating leverage* Invest in core strategic areas to accelerate innovation & support growth•Clinical evidence•New product development Invest in core strategic areas to accelerate innovation & support growth•Clinical evidence•New product development $48.5$62.3$71.32023 2024 2025 2026 2027 Annual R&D SpendGROWTH Revenue growth will outpace R&D spend, improving leverage ratio Revenue growth will outpace R&D spend, improving leverage ratio Majority WATER IV Cost will conclude in 2026 Majority WATER IV Cost will conclude in 2026 36%28%23%2023 2024 2025 2026 2027 R&D as % of SalesLEVERAGE15-17% TARGET*2026 + 2027 financial guidance issued on February 26, 2026
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94 SG&A Leverage Drivers •Improved sales force productivity•Initiate hybrid clinical support model•SG&A is expected to drive leverage despite increased marketing investments •2026 Guidance Assumes positive EBITDA in 4Q26 Once positive, adjusted EBITDA1,2is expected to achieve sustained positive momentum -$87-$60-$50-$30 to-$17+$25to+$302023 2024 2025 2026 2027Adjusted EBITDA($-mil) 1. 2026 + 2027 financial guidance issued on February 26, 20262. Adjusted EBITDA is a financial measure that is not prepared in accordance with generally accepted accounting principles in the United States (GAAP). For more information about the Company’s use of non-GAAP financial measures, please see appendix
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95 95 Balance Sheet and Metrics 95
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96 Strong balance sheet supports scalable growth •Continue to drive working capital improvements•Meaningful opportunity to reduce Days Inventory on Hand and Days Sales Outstanding •Do not expect cash balance to drop below $175 million*Operating Cash Flow •$52 Million bank loan with extremely attractive rate•Debt maturity 4Q27•Procept is positioned to be cash-flow positive at maturity*Outstanding Debt •Procept requires little CAPEX investment •Existing San Jose headquarters provides meaningful capacity to scale•3-4% target: CAPEX as percent of sales*Capital Spending(PPE) *2026 + 2027 financial guidance issued on February 26, 2026
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97 Moderated Q&A 97
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98 98
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99 Appendix -Non-GAAP Reconciliations
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100 All surgical treatments have inherent and associated side effects, some of which may lead to serious outcomes and may require intervention. Individual’s outcomes may depend on a number of factors, including but not limited to patient characteristics, disease characteristics and/or surgeon behavior. The most common side effects are mild and transient and may include mild pain or difficulty when urinating, discomfort in the pelvis or penis, blood in the urine, inability to empty the bladder or a frequent and/or urgent need to urinate, and bladder or urinary tract infection. Other risks include but are not limited to: anesthesia risk; sexual dysfunction, including ejaculatory or erectile dysfunction; injury to the urethra, such as false passage or stricture, or to the rectum, including rectal incontinence/perforation; bladder or prostate capsule perforation; infection, including the potential transmission of blood borne pathogens; bleeding; incontinence; embolism; electric shock/burn; transurethral resection (TUR) syndrome; bladder neck contracture; and bruising. No claim is made that the AquaBeam Robotic System or HYDROS Robotic System will cure any medical condition, or entirely eliminate the diseased entity. Repeated treatment or alternative therapies may sometimes be required.Rx OnlyProstate Cancer Clinical Trial (WATER IV)Caution: Aquablation therapy for the treatment of prostate cancer is limited by federal law to investigational use only. The safety and effectiveness of Aquablation therapy for the treatment of prostate cancer has not been established.Risk and Safety Information
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101 Studies with distinct patient cohorts evaluating Aquablation therapy were included, abstracts and unpublished data were excluded; Studies with fewer than 30 patients were excluded; Data was pulled from 18 Aquablation therapy publications up to January 2025; Listed below; Outcomes of interest were aggregated together, and subsequently weighted based on the studies sample size; Not all publications included all outcomes of interest, and thus were excluded from each respective analysis.India, 20-118, n=47, Desai et al; WATER, 30-80ml, n=116, Gilling et al; WATER II, 80-150ml, n=101, Bhojani et al; OPEN WATER, 20-148ml, n=178, Bach et al; FRANCAIS WATER, 30-80ml, n=30, Misrai et al; Very Large Prostates, 151-362ml, n=36, Helfand et al; Jacksonville, 27-223ml, n=55, Kasraeian et al Lebanon, 13-148ml, n=59, Labban et al; Stanford AUR and CUR, 29-250ml, n=113, Burton et al; Montreal ASC, 41-270ml, n=60, Zorn et al; Mount Sinai, 38-330ml, n=330, Omidele et al; Hamburg, 20-154ml, n=118, Bach et al; Japan PMS, 33-242ml, n=103, Hinata et al; Madrid Aquablation vs HoLEP, 72±35ml, n=75, Quintas et al; Israel, 31-138, n=50, Shvero et al; Italy, 43-81, n=109, Amparore et al; Focal Bladder Neck Cautery, 20-263ml, n=2,089, Elterman et al; HoLEP vs Aquablation Hematuria Risk, 56±25ml, n=167, Gloger et alClinical Data Summary Methodology
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102 Clinical Methodology (Slide 44 & 45)