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June 4, 2025 Resmed Stewardship Presentation September 2025
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Presentation of financial information & forward-looking statements Historical financial and operating data in this presentation reflect the consolidated results of ResMed Inc., its subsidiaries, and its legal entities for the periods indicated. This presentation includes financial information prepared in accordance with accounting principles generally accepted in the United States, or GAAP, as well as other financial measures referred to as non-GAAP. The non-GAAP financial measures in this presentation, which include non-GAAP Gross Profit, non-GAAP Gross Margin, non-GAAP Income from Operations, non-GAAP Net Income, and non-GAAP Diluted Earnings per Share, should be considered in addition to, but not as substitutes for, the information prepared in accordance with GAAP. For reconciliations of the non-GAAP financial measures to the most comparable GAAP measures, please refer to the earnings release associated with the relevant reporting period, which can be found on the investor relations section of our corporate website (investor.Resmed.com). In addition to historical information, this presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on ResMed’s current expectations of future revenue or earnings, new product development, new product launches, new markets for its products, integration of acquisitions, leveraging of strategic investments, litigation, and tax outlook. The words “believe,” “expect,” “intend,” “anticipate,” “will continue,” “will,” “estimate,” “plan,” “future” and other similar expressions, and negative statements of such expressions, generally identify forward-looking statements, including, in particular, statements regarding expectations of future revenue or earnings, expenses, new product development, new product launches, new markets for our products, the integration of acquisitions, our supply chain, domestic and international regulatory developments, litigation, tax outlook, and the expected impact of macroeconomic conditions on our business. ResMed’s expectations, beliefs, and forecasts are expressed in good faith and are believed to have a reasonable basis, but actual results could differ materially from those stated or implied by these forward-looking statements. ResMed assumes no obligation to update the forward-looking information in this presentation, whether as a result of new information, future events, or otherwise. For further discussion of the various factors that could impact actual events or results, please review the “Risk Factors” identified in ResMed’s quarterly and annual reports filed with the Securities and Exchange Commission. All forward-looking statements included in this presentation should be considered in the context of these risks. Investors and prospective investors are cautioned not to unduly rely on our forward-looking statements. © 2025 Resmed. 2
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Fiscal 2025 highlights 3 Delivered significant stockholder value in fiscal 2025 and keenly focused on achieving 2030 strategy Board of Directors is well- positioned to support management in its execution of the 2030 strategy; Nicole Mowad-Nassar joined the Board in August Employees are critical to the company’s ongoing growth and success; Resmed’s management team is well- diversified in its experience and tenure Compensation emphasizes pay for performance and ensures alignment of management’s and stockholders’ interests Focus on sustainability aims to both minimize Resmed’s environmental footprint and take into account the company’s responsibility to develop patient solutions that are durable and long- lasting Committed to engagement with stockholders, and to continuous improvement across stewardship efforts © 2025 Resmed.
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Resmed | The global leader in connected and digital health Headquarters San Diego, CA Founded 1989 FY 2025 revenue $5.1B Listed (NYSE, ASX) 1995, RMD FY 2025 Operating Margin (GAAP/Non-GAAP) 33% | 34% Countries served 140+ Total employees >10,000 Sleep Health Breathing Health Residential Care Software (RCS) Delivering a market-leading patient experience through innovative solutions that lower overall costs for treating Sleep Apnea patients and improve clinical outcomes by leveraging global digital health solutions Improving the lives of patients with COPD, and other key chronic respiratory diseases on their healthcare journey – lowering costs, preventing hospitalization, and creating end-to-end care solutions (was respiratory care) Providing a network of residential care software (RCS) management solutions (previously called out-of-hospital (OOH) SaaS) that help home medical equipment and other providers deliver personalized care, measurable results, and improved outcomes Devices Masks & Other RCS U.S., Canada, and Latin America Europe, Asia, and Other RCS (U.S. & Germany) Our areas of focus 58%30% 12%12% 36% 52% Revenue by business FY 2025 Revenue by region FY 2025 1As of 7/31/25. Resmed ‘s fiscal year end is June 30th. © 2025 Resmed. 4 Key Statistics1
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During the last 12 months, we empowered more than 154 million lives with our digital health products and cloud-based software solutions1 Our goal is to empower 500 million lives in 2030 We're proud to offer connected and digital heath tech solutions that people love, and that help those with sleep and breathing health challenges live happier, healthier lives with care in the comfort of the home or care setting of their choice 1Lives calculated under 2030 methodology introduced December 2024. © 2025 Resmed. 5
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We envision a world where every person can achieve their full potential through better sleep and breathing, with care delivered in their own home We create life-changing health technologies that people love We will create products people love as well as seamless, personalized pathways for access to life-changing care Empower our teams Prioritize AI Build trust We will achieve industry leading growth and profitability We will empower 500M people worldwide to achieve their full potential in 2030 Sleep Health Breathing Health Health Tech at Home 2030 STRATEGY OUR STRATEGY OUR FOCUS AREAS OUR MISSION OUR GLOBAL IMPACT OUR VISION OUR KEY CAPABILITIES OUR FINANCIAL GOAL Resolute integrity Resourceful innovation Responsible quality Respectful diversity Resounding impact OUR VALUES Drive collaboration Develop people Optimize for Resmed Lead others with purpose Own the results OUR BEHAVIORS © 2025 Resmed.
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7 4 3 2 2 0-5 Yrs 6-10 Yrs 11-15 Yrs >15 Yrs 7 4 Male Female 1 53 1 1 <50 50-60 61-70 71-80 >80 Note: Please see Resmed’s recent press release link noting the appointment of Nicole Mowad-Nassar and that Rich Sulpizio will not stand for re-election in the November 2025 AGM. Metrics reflect Board if all directors who stand for re-election during November 2025 AGM receive requisite votes. • 11 members (9 independent) • Lead independent director • All directors stand for election annually • 4 committees, all chaired by, and comprised entirely of, independent directors • No term limits; no age limits • Board participates in quarterly Q&A sessions with senior and mid-level management to gain additional insight Joined Board in past year. Tenure Age Distribution Gender Diversity Harjit Gill, BA John Hernandez, PhD, MPP Nicole Mowad-Nassar, BS, MBA Desney Tan, PhD, BSE Ronald Taylor, MA Independent Non-Executive Director CEO of the Asia Pacific Medical Technology Association Independent Non-Executive Director Head of Health Impact at Google Independent Non-Executive Director SVP of AbbVie and President of Global Allergan Aesthetics Independent Non-Executive Director Corporate Vice President and Managing Director of Microsoft Research Independent Non-Executive Director; Lead Independent Director Founder and CEO of Pyxis Corporation Board – overview © 2025 Resmed. Carol J. Burt, BBA Christopher DelOrefice, BS, MBA Jan De Witte, MSE, MBA Karen Drexler, BSE, MBA Michael J. Farrell, BE, SM, MBA Peter C. Farrell, PhD, DSc, AM Independent Non-Executive Director Principal of Burt-Hilliard Investments Independent Non-Executive Director EVP and CFO of Becton, Dickinson and Company Independent Non-Executive Director President and CEO of Integra Life Sciences Independent Non-Executive Director Former CEO of Sandstone Diagnostics, Inc. Non-Independent Executive Director Chairman of the Board and CEO of Resmed Non-Independent Director Founder and Chairman Emeritus of Resmed
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8 Board Members Audit Compensation and Leadership Development Compliance, Privacy and Quality Nominating and Governance Carol J. Burt, BBA Christopher DelOrefice, BS, MBA Jan De Witte, MSE, MBA Karen Drexler, BSE, MBA Peter C. Farrell, PhD, DSc, AM | Chairman Emeritus Michael J. Farrell, BE, SM, MBA Harjit Gill, BA John Hernandez, PhD, MPP Nicole Mowad-Nassar, BS, MBA Desney Tan, PhD, BSE Ronald Taylor, MA | Lead Independent Director Note: Please see Resmed’s recent press release link noting the appointment of Nicole Mowad-Nassar and that Rich Sulpizio will not stand for re-election in the November 2025 AGM. Metrics reflect Board if all directors who stand for re-election during November 2025 AGM receive requisite votes. Committee Member Chairman of the BoardCommittee Chair Financial Expert Board – Committee structure © 2025 Resmed.
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Board – oversight of strategy 9© 2025 Resmed. • Board actively participates in continued evolution of Resmed’s 2030 strategy ‐ Executive leadership team regularly interacts with Board members and receives Board feedback ‐ Board also reviews Resmed's strategy annually and as needed during individual board meetings • Board is briefed on Resmed's product roadmap, including product development and go-to-market strategies • Board regularly holds meetings in Resmed offices outside the US (most recently in Germany) and has visited retail and manufacturing sites in Sydney, Australia, Singapore, and Lyon, France • Board regularly participates in director education sessions on topics such as demand generation, cybersecurity, use of artificial intelligence, European regulation, and sustainability CASE STUDY: GLP -1s Assessing potential impacts of changing OSA landscape Board briefing: ongoing monitoring of real- world evidence to assess impact Resmed view: widespread adoption of GLP- 1s increases awareness of sleep apnea GLP-1 initiated1,2 vs. non-GLP-1 initiated OSA patients1 11% more likely to initiate PAP therapy3 3% more likely to resupply PAP one year post-setup4 5% more likely to resupply PAP two years post-setup4 GLP-1 stands for glucagon-like peptide-1. GLP-1 Data Source: IQVIA LRX data and Diagnostic claims, July 2021 – March 2025. 1. Total patients with an OSA diagnosis claim from July 2021 – March 2025; those who were diagnosed with OSA prior to July 2021 are not included in this analysis. 2. GLP-1 initiation is defined by presence of GLP-1 claim at any point from July 2021 – March 2025 (n=1,601k patients); initiation does not demonstrate GLP-1 treatment adherence, so patients may not be actively taking GLP-1s today. 3. Values show absolute percentage difference in presence of any PAP-related claim from July 2021 – March 2025 comparing OSA patients who used GLP-1s versus OSA patients with no GLP-1 use. 4. Values show absolute percentage difference in presence of any PAP-related claim at each timepoint post PAP setup from July 2021 – March 2025 comparing OSA patients who used GLP-1s versus OSA patients with no GLP-1 use.
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10 The full Board oversees general risk, including sustainability and cybersecurity Board Audit Committee Overseeing financial risk, capital risk, financial compliance and internal audit, and controls over financial reporting. Compensation and Leadership Development Committee Overseeing compensation philosophy and practices, evaluating the balance between risk-taking and rewards to senior officers, reviewing risk posed by sales compensation plans, and overseeing the company’s equity plans. Compliance, Privacy and Quality Committee Overseeing compliance with global healthcare laws and regulations, global privacy requirements, new and ongoing quality issues, and sustainability reporting. Nominating and Governance Committee Evaluating each director’s independence, director recruiting, maintaining Board Skills Matrix, adapting to Resmed’s commercial and risk environment, evaluating the effectiveness of Resmed’s corporate governance and overseeing succession planning. Management Designated internal management, as well as certified professional accounting firms performing annual internal and external audits, regularly review and test functions, controls and processes to review, evaluate and recommend mitigation strategies, as needed. Critical areas of focus include financial, operational, regulatory, compliance, economic, compensation, privacy, cybersecurity, and competition, among others. There is an annual Enterprise Risk Management review each November Senior management and Committee Chairs regularly update the entire Board about significant risk management issues Board – Key Committee responsibilities © 2025 Resmed.
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Human capital management – overview 11© 2025 Resmed. Our people are critical to Resmed’s ongoing growth and success As of June 30, 2025, Resmed had ~10,600 employees 4,370 4,240 1,990 By Function Sales, marketing, & administration Cost of sales activities Research & development 3,250 3,250 1,570 2,530 By Geography US, Canada, Latin America Asia Australia Europe • Resmed’s average global turnover rate for fiscal year 2025 was approximately 12% • Resmed encourages diversity of thought to ensure that both employees and customers feel represented and valued, driving loyalty and engagement across all business areas ranging from medical devices to digital technology
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Mick Farrell Chief Executive Officer and Chairman of the Board 25 years with Resmed Brett Sandercock Chief Financial Officer 19 years with Resmed Mike Rider Chief Legal Officer 13 years with Resmed Vered Keisar Chief People Officer 13 years with Resmed Salli Schwartz Chief Investor Relations Officer <1 year with Resmed Katrin Pucknat Chief Marketing Officer 15 years with Resmed Justin Leong Chief Product Officer 12 years with Resmed Mike Fliss Chief Revenue Officer 23 years with Resmed Hemanth Reddy Chief Strategy Officer 12 years with Resmed Dawn Haake Chief Quality Officer 10 years with Resmed Carlos Nunez, M.D. Chief Medical Officer 8 years with Resmed Jim Ellis Chief Compliance Officer 7 years with Resmed Todd Friedman Chief Information Security Officer 10 years with Resmed Al Robertson Chief Information Officer 1 year with Resmed Shane Azzi Chief Supply Chain Officer 1 year with Resmed 12 Human capital management – leadership team © 2025 Resmed.
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Executive compensation – program highlights 13 Geographic Considerations Resmed is headquartered in the US and the majority of our officers work and reside in the US. To be able to compete for best-in-industry talent in support of our growth priorities, our executive compensation program reflects leading and prevailing market practices in the US, which differ from Australian market standards • Target total compensation program aims to be competitive with similarly-sized US-based public companies in the medical device and medical technology industries with which we compete for executive talent ‐ Target total compensation aims to be at least near the median of the US market and conforms to US market compensation best practices • Our US-based pay philosophy results in executive compensation that is different than the model for companies organized and trading only in Australia ‐ Resmed uses lower base salary, higher short-term cash incentives, and higher target equity value, in alignment with US best practices ‐ US norms also have a lower percentage of equity value subject to performance conditions than exhibited by Australian companies ‐ We balance these competing philosophies by adhering to US best practices and grant 50% of equity in a mix of relative and absolute TSR PSUs and 50% of executive RSUs tied to shorter term targets requiring three years of service for full vesting Key Principles © 2025 Resmed. To emphasize pay for performance and ensure alignment of management and stockholders’ interests To reward successful annual performance through our cash incentive program and encourage long-term value creation for our stockholders through our long-term equity incentive program To support our talent roadmap by attracting and retaining top talent, while incentivize and rewarding execution of our 2030 strategy
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Executive compensation – predominantly at-risk structure 14 Base salary Cash incentive program Equity incentive program • Provides our executives with a degree of financial certainty and stability • Salary ranges generally based on similar positions in med tech companies of comparable size in the US • Rewards achievement of pre-established short-term financial objectives (adjusted net sales and adjusted operating profit, weighted equally) • All payouts are determined in accordance with these objective performance metrics • Cap on maximum payout at 200% of each officer’s target opportunity, with no payout if performance is less than 85% of target goal for that measure • Balanced, with 50% of grant value in long-term performance units, and 50% in shorter term performance targets: © 2025 Resmed.
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Sustainability practices – overview 15© 2025 Resmed. • We aim to minimize Resmed’s environmental footprint across all operations and throughout our supply chain • We focus on designing and developing innovative products that have a lower environmental impact throughout their lifecycle • We are committed to conducting business responsibly and ensuring our operations adhere to all applicable environmental regulations in the countries where we operate • We have not received any regulatory notices, complaints, or issues raised by external parties, and we are not aware of any environmental issues raised against our major suppliers during the reporting year Resmed will publish its 2025 Sustainability Report in the coming months
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Fiscal 2025 highlights 16 Delivered significant stockholder value in fiscal 2025 and keenly focused on achieving 2030 strategy Board of Directors is well- positioned to support management in its execution of the 2030 strategy; Nicole Mowad-Nassar joined the Board in August Employees are critical to the company’s ongoing growth and success; Resmed’s management team is well- diversified in its experience and tenure Compensation emphasizes pay for performance and ensures alignment of management’s and stockholders’ interests Focus on sustainability aims to both minimize Resmed’s environmental footprint and take into account the company’s responsibility to develop patient solutions that are durable and long- lasting Committed to engagement with stockholders, and to continuous improvement across stewardship efforts © 2025 Resmed.