Teleflex (TFX) Raymond James & Associates’ 46th Annual Institutional Investors Conference summary

2024 financial performance and business highlights

• Adjusted constant currency revenues grew 3.1% year over year, with adjusted EPS at $14.01.

• Interventional and EMEA businesses saw strong growth, with 14.8% and 7.3% increases, respectively.

• Surgical segment achieved 6.1% growth, supported by the Titan stapler.

• Adjusted gross margin expanded by 120 basis points, and operating margin by 60 basis points.

• Cash flow from operations rose 24.7% to $638.3 million, aided by improved working capital and pension plan termination.

Biotronik vascular intervention acquisition

• Entered agreement to acquire Biotronik's vascular intervention business for ~€760 million, closing expected by Q3 2025.

• Biotronik products delivered a 5.4% revenue CAGR (2022–2024); expected to grow 6%+ annually post-acquisition.

• Acquisition to be $0.10 accretive to adjusted EPS in year one, with double-digit return on capital by year four.

• Portfolio includes drug-coated balloons, stents, and catheters, expanding presence in coronary and peripheral markets.

• Strategic rationale includes scale, market expansion, and enhanced R&D and clinical capabilities.

Innovation and clinical pipeline

• Acquisition enables investment in Biotronik's Freesolve, a sirolimus-eluting resorbable metallic scaffold.

• Freesolve received CE mark in February 2024; pivotal European study underway with results expected in 2027.

• Early clinical data for Freesolve is promising, supporting a "leave nothing behind" strategy in interventions.

• R&D investment in interventional business is in the upper single digits as a percent of revenue.

• Focus on differentiated technologies and expanding clinical trial programs.