Zimmer Biomet : Announces First Quarter 2023 Financial Results

345 E. Main St.
Warsaw, IN 46580
www.zimmerbiomet.com	Exhibit 99.1
Media	Investors
Meredith Weissman	Keri Mattox
[phone]	[phone]
[e-mail]	[e-mail]
Heather Zoumas-Lubeski	Zach Weiner
[phone]	[phone]
[e-mail]	[e-mail]

Zimmer Biomet Announces

First Quarter 2023 Financial Results

• First quarter net sales of $1.831 billion increased 10.1% and 13.2% on a constant currency1 basis
• First quarter diluted earnings per share were $1.11; adjusted1 diluted earnings per share were $1.89
• Company raises and tightens 2023 financial guidance

(WARSAW, IN) May 2, 2023 - Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH) today reported financial results for the quarter ended March 31, 2023. The Company reported first quarter net sales of $1.831 billion, an increase of 10.1% over the prior year period, and an increase of 13.2% on a constant currency1 basis. Net earnings for the first quarter were $232.5 million, or $396.8 million on an adjusted1 basis.

Diluted earnings per share were $1.11 for the first quarter, and adjusted1 diluted earnings per share were $1.89.

1. Reconciliations of these measures to the corresponding U.S. generally accepted accounting principles measures are included in this press release.

Page 1 of 19

"Our strong performance in Q1 outpaced our internal growth expectations, driven by continued procedure recovery, solid execution and increasing traction around ZB innovation," said Bryan Hanson, Chairman, President and CEO of Zimmer Biomet. "I'm proud of how our team continues to successfully navigate and manage the broader market challenges posed by inflation and the supply chain and how we are driving positive momentum as we deliver on our mission and bring value to our patients, customers and shareholders."

Recent Highlights

Aligned with the ongoing transformation of Zimmer Biomet's business, key recent highlights include:

• Launch of thePersona®OsseoTi®Keel Tibiafor cementless knee replacement. The latest addition to the clinically proven Persona Knee System, Persona OsseoTi features initial and biological fixation with the OsseoTi porous keel design, a system that allows for selection between cementless and cemented procedures up until final implantation and an anatomic tibia for proper rotation and optimal bone coverage.
• Completion of the Embody, Inc. acquisition, which wasannouncedearly in the quarter, adding Embody's complete portfolio of collagen-based biointegrative solutions into our sports medicine business to expand ZB's leadership in attractive high-growth markets.
• Unveilingof the latest enhancements to ZBEdge™ Dynamic Intelligence™at the American Academy of Orthopaedic Surgeons (AAOS) 2023 Annual Meeting in Las Vegas, including updates to mymobility® Digital Care Management Platform, ROSA® Knee and Persona IQ®.

Page 2 of 19

Geographic and Product Category Sales

The following sales table provides results by geography and product category for the three-month period ended March 31, 2023, as well as the percentage change compared to the prior year period, on both a reported basis and a constant currency basis.

NET SALES - THREE MONTHS ENDED MARCH 31, 2023

	(in millions, unaudited)
							Constant
			Net				Currency
Geographic Results			Sales		% Change		% Change
United States	$	1,060.4	12.7	%	12.7	%
International			770.6	6.7		14.0
Total		$	1,831.0	10.1 %	13.2 %
Product Categories
Knees
United States	$	448.2	18.1	%	18.1	%
International			314.3	10.9		18.2
Total			762.5	15.0		18.2
Hips
United States			252.3	12.3		12.3
International			240.5	6.2		13.5
Total			492.8	9.3		12.9
S.E.T. *			433.4	4.0		6.4
Other			142.3	7.3		11.1
Total		$	1,831.0	10.1 %	13.2 %

* Sports Medicine, Extremities, Trauma, Craniomaxillofacial and Thoracic

Amounts reported in millions are computed based on the actual amounts. As a result, the sum of the components reported in millions may not equal the total amount reported in millions due to rounding. Percentages presented are calculated from the underlying unrounded amounts.

Page 3 of 19

Financial Guidance

The Company is providing the following updated full-year 2023 financial guidance:

Projected Year Ending December 31, 2023

	Previous Guidance	Updated Guidance
2023 Reported Revenue Change	1.5%	- 3.5%	5.0%	- 6.0%
Foreign Currency Exchange Impact	(1.5)%	(1.0)%
Adjusted Diluted EPS(1)	$6.95	- $7.15	$7.40	- $7.50

This measure is a non-GAAP financial measure for which a reconciliation to the most directly comparable GAAP financial measure is not available without unreasonable

1. efforts. See "Forward-LookingNon-GAAP Financial Measures" below, which identifies the information that is unavailable without unreasonable efforts and provides additional information. It is probable that this forward-lookingnon-GAAP financial measure may be materially different from the corresponding GAAP financial measure.

Conference Call

The Company will conduct its first quarter investor conference call today, May 2, 2023, at 8:30 a.m. ET. The audio webcast can be accessed via Zimmer Biomet's Investor Relations website at https://investor.zimmerbiomet.com. It will be archived for replay following the conference call.

About the Company

Zimmer Biomet is a global medical technology leader with a comprehensive portfolio designed to maximize mobility and improve health. We seamlessly transform the patient experience through our innovative products and suite of integrated digital and robotic technologies that leverage data, data analytics and artificial intelligence.

With 90+ years of trusted leadership and proven expertise, Zimmer Biomet is positioned to deliver the highest quality solutions to patients and providers. Our legacy continues to come to life today through our progressive culture of evolution and innovation.

For more information about our product portfolio, our operations in 25+ countries and sales in 100

• countries or about joining our team, visit www.zimmerbiomet.comor follow Zimmer Biomet on Twitter at www.twitter.com/zimmerbiomet.

Website Information

We routinely post important information for investors on our website, www.zimmerbiomet.com, in the "Investor Relations" section. We use this website as a means of disclosing material, non-

Page 4 of 19

public information and for complying with our disclosure obligations under Regulation FD. Accordingly, investors should monitor the Investor Relations section of our website, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts.

The information contained on, or that may be accessed through, our website or any other website referenced herein is not incorporated by reference into, and is not a part of, this document.

Note on Non-GAAP Financial Measures

This press release includes non-GAAP financial measures that differ from financial measures calculated in accordance with U.S. generally accepted accounting principles ("GAAP"). These non-GAAP financial measures may not be comparable to similar measures reported by other companies and should be considered in addition to, and not as a substitute for, or superior to, other measures prepared in accordance with GAAP.

Net sales change information for the three-month period ended March 31, 2023 is presented on a GAAP (reported) basis and on a constant currency basis. Constant currency percentage changes exclude the effects of foreign currency exchange rates. They are calculated by translating current and prior-period sales at the same predetermined exchange rate. The translated results are then used to determine year-over-year percentage increases or decreases.

Net earnings and diluted earnings per share for the three-month period ended March 31, 2023 and net earnings and diluted earnings per share from continuing operations for the three-month period ended March 31, 2022 are presented on a GAAP (reported) basis and on an adjusted basis. Adjusted earnings and adjusted diluted earnings per share exclude the effects of certain items, which are detailed in the reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures presented later in this press release.

Free cash flow from continuing operations is an additional non-GAAP measure that is presented in this press release. Free cash flow from continuing operations is computed by deducting additions to instruments and other property, plant and equipment from net cash provided by operating activities from continuing operations.

Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are included in this press release. This press release also contains supplemental reconciliations of additional non-GAAP financial measures that the Company presents in other contexts. These additional non-GAAP financial measures are computed from the most directly comparable GAAP financial measure as indicated in the applicable reconciliation.

Page 5 of 19