Zimmer Biomet

We used these proceeds, along with cash on hand, for the acquisition of Paragon 28, to redeem $1,463.0 million of senior notes, and to repurchase $487.0 million of our common stock.

SEC original ↗Zimmer Biomet — Earnings release (8-K exhibit)EX-99Aug 5, 2026

In February, May, August and December 2025, our Board of Directors declared cash dividends of $0.24 per share.

SEC original ↗Zimmer Biomet — Earnings release (8-K exhibit)EX-99Aug 5, 2026

We expect to continue paying cash dividends on a quarterly basis; however, future dividends are subject to approval of the Board of Directors and may be adjusted as business needs or market conditions change.

SEC original ↗Zimmer Biomet — Earnings release (8-K exhibit)EX-99Aug 5, 2026

In May 2024, our Board of Directors authorized a $2.0 billion share repurchase program effective May 29, 2024, with no expiration date.

SEC original ↗Zimmer Biomet — Earnings release (8-K exhibit)EX-99Aug 5, 2026

In 2025, we executed share repurchases under this repurchase program in an aggregate amount of $487.0 million to return cash to investors as well as to limit ownership dilution from the issuance of common stock under our share-based compensation programs.

SEC original ↗Zimmer Biomet — Earnings release (8-K exhibit)EX-99Aug 5, 2026

On February 9, 2026, our Board of Directors authorized a $1.5 billion share repurchase program effective February 9, 2026, with no expiration date, and terminated the existing May 2024 share repurchase program.

SEC original ↗Zimmer Biomet — Earnings release (8-K exhibit)EX-99Aug 5, 2026

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This document contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding financial guidance, statements regarding macro pressures, including the impact of such pressures on our business, and any statements about our forecasts, expectations, plans, intentions, commitments, strategies or prospects.

SEC original ↗Zimmer Biomet — Earnings release (8-K exhibit)EX-99Aug 5, 2026

Food and Drug Administration ( FDA ) and other government regulators relating to medical products, healthcare fraud and abuse laws and data privacy and cybersecurity laws; the success of our quality and operational excellence initiatives; the ability to remediate matters identified in inspectional observations issued by the FDA and other regulators, while continuing to satisfy the demand for our products; product liability, intellectual property and commercial litigation losses; and the ability to obtain and maintain adequate intellectual property protection.

SEC original ↗Zimmer Biomet — Earnings release (8-K exhibit)EX-99Aug 5, 2026

The following discussion, analysis and comparisons generally focus on the operating results for the years ended December 31, 2025 and 2024.

SEC original ↗Zimmer Biomet — Earnings release (8-K exhibit)EX-99Aug 5, 2026

2026 Outlook We expect year-over-year net sales growth of 2.5 percent to 4.5 percent in 2026 to be driven by a combination of market growth, new product introductions, the Paragon 28 acquisition and positive effects of changes in foreign currency exchange rates, partially offset by the expected impact from changes to our go-to-market strategy and execution in the U.

SEC original ↗Zimmer Biomet — Earnings release (8-K exhibit)EX-99Aug 5, 2026

However, we have had success in offsetting negative effects of pricing pressure due to internal initiatives and being able to pass some inflationary impacts on to customers.

SEC original ↗Zimmer Biomet — Earnings release (8-K exhibit)EX-99Aug 5, 2026

; the risk of additional tax liability due to the recategorization of our independent agents and distributors to employees; changes in tariffs relating to imports to the U.

SEC original ↗Zimmer Biomet — Earnings release (8-K exhibit)EX-99Aug 5, 2026

tariffs; higher performance-related compensation; and investments made to direct-to-patient marketing, medical education and information technology in the current year.

SEC original ↗Zimmer Biomet — Earnings release (8-K exhibit)EX-99Aug 5, 2026

tariffs and Paragon 28 inventory sold being stepped-up to fair value on the acquisition date.

SEC original ↗Zimmer Biomet — Earnings release (8-K exhibit)EX-99Aug 5, 2026

The increase as a percentage of net sales was primarily due to the inventory charges, tariffs and inventory step-up, but was partially offset by a favorable mix shift to higher margin products and markets.

SEC original ↗Zimmer Biomet — Earnings release (8-K exhibit)EX-99Aug 5, 2026

tariffs (0.4 ) - Intangible asset amortization (0.4 ) (0.1 ) Current year gross margin 61.6 % 63.8 % Operating Expenses Research & development ( R&D ) expenses increased in amount, but decreased as a percentage of net sales in 2025 compared to 2024.

SEC original ↗Zimmer Biomet — Earnings release (8-K exhibit)EX-99Aug 5, 2026

tariffs and higher interest and tax-related payments.

SEC original ↗Zimmer Biomet — Earnings release (8-K exhibit)EX-99Aug 5, 2026