Zimmer Biomet (ZBH) Outlines Strategy to Deliver Above Market Growth

Zimmer Biomet Holdings, Inc. (NYSE: ZBH) today hosted its 2024 Investor Day and provided an in-depth review of the Company's strategic priorities and long-range plan for growth and value creation.

"Over the last five years, Zimmer Biomet has undergone a true transformation to become a stronger company with a bright future," said Ivan Tornos, President and Chief Executive Officer. "Today, as a global leader in MedTech and Orthopedics, we are laser focused on providing customer-centric solutions designed to reduce safety concerns, maximize efficiency and deliver best-in-class clinical outcomes. We are confident that as we move forward from this position of strength, Zimmer Biomet will continue to innovate, execute and allocate capital to maximize shareholder value."

At today's event, Zimmer Biomet provided its long-range plan for 2024 through 2027, including delivering:

• Mid-single-digit percentage constant currency consolidated revenue¹ compound annual growth rate (CAGR)
• Adjusted earnings per share¹ (EPS) growth at least 1.5 times revenue growth
• Free Cash Flow¹ growing at least 100 basis points faster than adjusted EPS

The Company also highlighted the drivers of Zimmer Biomet's value-enhancing opportunities, including:

• Delivering on a new, compelling growth profile for driving above market revenue growth
• Diversifying into higher growth markets to accelerate revenue in higher growth areas and increase the Company's Weighted Average Market Growth Rate (WAMGR)
• Returning at least 65% of free cash flow to shareholders through dividends and share buybacks:
  • Zimmer Biomet's board of directors has approved a new stock repurchase authorization, granting the Company authority to repurchase up to $2 billion in common stock. Under the program, which is designed to return value to Zimmer Biomet's shareholders, minimize dilution from stock issuances, and reduce share count over time, the Company may repurchase shares in the open market and enter into structured repurchase agreements with third parties.
• Leveraging financial flexibility and strong M&A firepower to continue to execute strategic acquisitions

Zimmer Biomet also announced today that it has formalized a partnership with CBRE Group, Inc. (NYSE: CBRE), the world's largest commercial real estate services and investment firm, to develop and outfit orthopedic ambulatory surgery centers (ASC) in the U.S. This strategic alliance will leverage the companies' respective core strengths as leaders in healthcare technology and commercial real estate services to deliver the latest in medical technology to more patients across the country. The partnership offers a comprehensive, turnkey solution to surgeons and institutions looking to expand their orthopedic ASC footprint.

Event Materials and Replay

To access the presentation materials and replay from today's 2024 Investor Day, visit the Company's investor relations website at https://investor.zimmerbiomet.com/.

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