ZimVie : Announces Sale of Spine Business

Business Update

December 18, 2023

Forward-looking statements and Non-GAAP measures

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This presentation contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements concerning ZimVie's expectations, plans, prospects and product and service offerings, including expected benefits, opportunities and other prospects if the spine business is divested. Such statements are based upon the current beliefs, expectations, and assumptions of management and are subject to significant risks, uncertainties, and changes in circumstances that could cause actual outcomes and results to differ materially from the forward-looking statements. These risks, uncertainties and changes in circumstances include, but are not limited to: uncertainties as to the timing of the sale of the spine business and the risk that the transaction may not be completed in a timely manner or at all; the possibility that any or all of the conditions to the consummation of the sale of the spine business may not be satisfied or waived; the effect of the announcement or pendency of the transaction on ZimVie's ability to retain and hire key personnel and to maintain relationships with customers, suppliers and other business partners; and risks related to diverting management's attention from ZimVie's ongoing business operations and uncertainties and matters beyond the control of management. For a list and description of other such risks, uncertainties, and changes in circumstances, see ZimVie's periodic reports filed with the U.S. Securities and Exchange Commission (the "SEC"). These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in ZimVie's filings with the SEC. Forward-looking statements speak only as of the date they are made, and ZimVie disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. You are cautioned not to rely on these forward-looking statements, since there can be no assurance that these forward-looking statements will prove to be accurate. This cautionary note is applicable to all forward- looking statements contained in this presentation.

Forward-LookingNon-GAAP Financial Measures

This presentation also includes certain forward-lookingnon-GAAP financial measures including adjusted EBITDA margin, net debt, and free cash flow conversion for the year ending December 31, 2023, for the period ending one year after the proposed closing of the sale of our spine business, and over the long-term following the proposed closing of the sale of our spine business. We calculate forward-lookingnon-GAAP financial measures based on internal forecasts that omit certain amounts that would be included in GAAP financial measures. We have not provided quantitative reconciliations of these forward-lookingnon-GAAP financial measures to the most directly comparable forward- looking GAAP financial measures because the GAAP measures cannot be reliably estimated and the reconciliations cannot be performed without unreasonable effort due to their dependence on future uncertainties, such as the timing of certain transactions, including the proposed sale of our spine business, and adjusting items that the Company cannot reasonably predict at this time but which may have a material impact on our future GAAP results.

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Announcing strategic simplification

Divesting spine business

Focuses our strategy as an end-to-end dental company with a leading product portfolio

Builds a strong foundation for growth and value creation

Improving growth profile and cash flow, while reducing leverage

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Transaction overview

Transaction value and

structure

Use of proceeds(1)

Timing/closing

conditions

Expected transaction

benefits

• Transaction value of $375M
• $315M cash consideration; $60M seller note at 10.0% PIK
• Proceeds from spine sale expected to be used for debt repayment
• Net debt(2,3) expected to be <$200M at end of year 1, post-close
• Expected closing: H1 2024
• Closing subject to customary closing conditions, including required regulatory approvals
• Expected to be accretive to revenue growth rates, EBITDA margin, and cash conversion rates
• Well positioned to pursue attractive, higher-growth dental market
• Sharpens focus as a pure-play dental company, streamlines operations and provides strategic flexibility

1. Proceeds net of tax and deal-related expenses.
2. This is a non-GAAP financial measure for which a reconciliation to the most directly comparable GAAP financial measure is not available without unreasonable efforts. Refer to "Forward-looking statements and Non-GAAP measures" slide of this presentation, which identifies the information that is unavailable without unreasonable efforts and provides additional information.

(3) Excludes proceeds from expected future repayment of seller note.

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Transaction will reposition ZimVie

Operating segments

End market growth

Facilities

(Mfg./Offices/Distribution)

Global distribution

Employees

Where we are (dental and spine)

2 distinct businesses

Mid-single-digit

9

~50% direct sales force / ~50% specialty partners

~2,600 employees +

~500 3rd party commercial agents

Where we are going (2024+)

1 pure-play dental company

Mid-single-digit to High-single-digit

4

Direct sales force of 90%+

~1,800 dedicated, dental employees

Transaction simplifies ZimVie's portfolio and enhances focus on growth and operational efficiency

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ZimVie: Focused on global dental leadership

Powerful, market-leadingportfolio of premium implants, biomaterials, and digital dentistry with exposure to MSD/HSD growth end-markets

Well positioned to accelerate growth within large, attractive, and underserved markets through differentiated technologies

Opportunity to improve operating leverage through leaner cost structure and optimized product manufacturing

Opportunity to improve cash flow conversion rates through a disciplined financial framework

Continue to build customer intimacy and expand portfolio adoption through our global direct sales force & specialty partners

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Significant, unmet need for tooth replacement

8	An estimated 8 million US
Million	patients seek treatment
for tooth loss annually

25%	Only 25% receive tooth
	replacement

Leading player in the following attractive dental segments

2021 Market Opportunity	2021-2026E(1) CAGR
$5B	Mid Single
	Digit

Dental implants

$2B	High Single
	Digit

Digital solutions

$1B	Mid Single
	Digit

Biomaterials

(1) Estimates are not precise and based on company estimates.

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Diversified dental portfolio addresses end-to-end patient needs

Implant Growth:	Biomaterials	Digital Dentistry	Geographic
Innovation & Execution	Pull-Through	Pull-Through	Expansion
Increase Penetration of	Leverage Leadership	Drive Digital Workflow	Scale ZimVie Presence
Implants through Continued
Position to Drive Implant	Adoption and Implant	Across Geographies with
Innovation and Commercial
Conversion	Penetration	Low Share
Execution

Large unmet need in tooth replacement creates significant opportunity

for long-term market penetration, expansion and growth

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Delivering fully integrated and end-to-endimplant-based tooth replacement solutions

Driving Premium Implant

Growth Through Innovation

Bone-level /	Surface Treatment
Tissue-level
Crestal Options
Material	Grooves and
(Titanium, Zirconia)
Texturing
Abutment	Tapered or
Connection	Straight

Various Width and Heights

Leveraging Biomaterials

Leadership Position

Types of Biomaterials:

Allografts - bone substitute derived from human donors

Xenografts / Synthetics - bone substitute derived from animals or biocompatible materials

Membranes - membrane for guided bone regeneration procedures

Digital Dentistry Driving

Implant Adoption

Intra-	Virtual treatment
scanners	planning
	Guided surgery	CAD/CAM
	workflow

Comprehensive line of premium implant systems, meeting the varying needs of oral surgeons / dental clinicians with a wide range of indications

Leading biomaterial solutions increase the size of our patient pool that can qualify for tooth replacement

A fully integrated and efficient

workflow with predictable outcomes

increases adoption

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Financial outlook

	2023 Guidance		Year 1 Post-Close
	(Before impact due to Spine
	Business Divestiture Agreement)(1)
Net Sales	$860M to $870M		$450M+
Adjusted	13.5% to 14.0%	15%+
EBITDA Margin(2)
	Q3 2023		Year 1 Post-Close
Net Debt	~$440M(3)		<$200M (4)
			Excludes proceeds from expected
			future repayment of seller note

Drivers of financial progress

Sales growth above market

Operational simplification and efficiency

Best-in-class portfolio

Commercial excellence

Transition year in 2024 to build a strong foundation for long-term performance

1. This guidance does not take into account or reflect the impact that the execution of the spine business divestiture agreements will have on ZimVie's 2023 financial statements, such as requirements related to classification of assets held for sale and discontinued operations.
2. This is a non-GAAP financial measure for which a reconciliation to the most directly comparable GAAP financial measure is not available without unreasonable efforts. Refer to "Forward-looking statements and Non-GAAP measures" slide of this presentation, which identifies the information that is unavailable without unreasonable efforts and provides additional information.
3. Represents net debt at September 30, 2023. Net debt is a non-GAAP financial measure, and is reconciled to total debt, the most directly comparable GAAP measure, as follows, as of September 30, 2023: Total debt of $515.5 million, less cash and cash equivalents of $75.5 million, equaling $440 million.
4. Represents projected net debt one year following the closing of the sale of the spine business and excludes proceeds from expected future repayment of seller note to ZimVie. This is a forward-looking non- GAAP measure for which a reconciliation to the most directly comparable GAAP financial measure is not available without unreasonable efforts. Refer to "Forward-looking statements and Non-GAAP measures" slide of this presentation, which identifies the information that is unavailable without unreasonable efforts and provides additional information.

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