Piper Jaffray Conference Presentation December 5, 2019 - PowerPoint PPT Presentation

Piper Jaffray Conference Presentation December 5, 2019

Presentation of Financial Information & Forward-Looking Statements Historical financial and operating data in this presentation reflect the consolidated results of Integer for the periods indicated. This presentation includes financial information prepared in accordance with accounting principles generally accepted in the United States, or GAAP, as well as other financial measures referred to as non-GAAP. The non-GAAP financial measures in this presentation, which include Adjusted Net Income, Adjusted Diluted EPS, Earnings Before Interest Taxes Depreciation and Amortization (EBITDA), Adjusted EBITDA, and organic growth rates should be considered in addition to, but not as substitutes for, the information prepared in accordance with GAAP. For reconciliations of these non-GAAP financial measures to the most comparable GAAP measures, please refer to the appendix to this presentation and the earnings release associated with this quarterly period which can be found in the investor relations section of our corporate website (investor.integer.net). Statements made in this presentation whether written or oral may be “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of Securities Exchange Act of 1934, as amended, and involve a number of risks and uncertainties. These statements can be identified by terminology such as “may,” “will,” “should,” “could,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or “variations” or the negative of these terms or other comparable terminology. These statements are based on the company’s current expectations and speak only as of December 5, 2019 . The Company’s actual results could differ materially from those stated or implied by such forward-looking statements. The Company assumes no obligation to update forward-looking information, including information in this presentation, to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial conditions or prospects. 2 ITGR: Investor Presentation / November 2019

Revenue by Markets Served - $1.26 billion (1) Markets Markets Tachycardia Bradycardia Cardiovascular / Urology Structural Heart SCS / Neurostimulation Oncology Cardiac Rhythm Peripheral Vascular Products Management & Neuromodulation 37% Electrophysiology Neurovascular Leads & Lead Components, Feedthroughs Adaptors & Finished Device Cardio & Assemblies Vascular Access Vascular 48% Products Enclosures Batteries Capacitors AS&O & Portable Medical Steerable Catheters & Guidewires, Stylets 11% Sheaths Sheaths & Accessories Markets Electrochem 5% Portable Adv Surgery Introducers Stents / Valves Combined Devices Medical Orthopedics Markets Products Military Energy Environmental Products Orthopedic Electrosurgical Li-Ion Battery Core Battery Implants Accessories Pack Assemblies Packs Battery Cells Battery Packs 3 ITGR: Investor Presentation / November 2019 - (1) midpoint of 2019 guidance range

Focused Strategy to Drive Long-term Growth Operational Strategy: Portfolio Strategy Strategic Imperatives How we win in the markets we serve How we achieve excellence in everything we do Invest to Grow Cardio & Vascular Neuromodulation Electrochem Portable Medical Protect & Preserve Cardiac Rhythm Management 4 ITGR: Investor Presentation / November 2019

Executive Alignment to Drive Our Strategy Portfolio Strategy Operational Strategy Product Category Leaders Strategic Imperative Leaders Market Focused Sales Force Innovation Excellence Payman Khales President, Manufacturing Cardio & Vascular Excellence Payman Khales Joel Becker President, C&V President , CRM&N Joel Becker Customers President, Cardiac Rhythm Management Jen Bolt & Neuromodulation SVP, Global Ops Costs Culture Performance Excellence Leadership Capability Carter Houghton President, Business Process Excellence Electrochem & Portable Medical Kirk Thor CHRO Joe Flanagan EVP, Quality

Product Line Strategy and Growth Teams Integer’s Sustainable Process to Drive Growth Product Integer’s Product Line Strategy Process is how we develop winning strategies for Line Product Lines in our portfolio. Product Line Strategies include standard processes, Strategies tools and governance that drive our critical strategic decisions. Inputs Planning Execution Capability Prioritization for Patient Needs / Clinical Trends Program Management for Target Markets Development & Operations Macro Technology Trends Product Roadmap Clear Functional Accountability Regulatory Trends Technology & Capability Sales Execution Roadmap Emerging Markets Trends KPIs and Relevant Metrics Sales Targeting & Account Consolidation Trends Management Standard Processes & Business System Improvements Manufacturing Trends Manufacturing Plan Continually Evolve Strategy in Order to Achieve Sustainable Revenue & Profit Growth Growth Teams Cross-functional teams in place - accountable for developing product line growth strategies in targeted markets 6 ITGR: Investor Presentation / November 2019

Manufacturing Excellence: Business Optimization and Margin Expansion Status • Defined & scoped 16 elements that Integer • Framework and detailed system comprise the IPS Production elements of our Integer • IPS element tools, templates and Systems manufacturing processes resources in process • All 15 facilities have completed • Comprehensive diagnosis and their initial lean diagnosis current-state mapping Lean • Improvement actions underway Diagnosis • Prioritized and aligned site • Learnings advancing to addition transformation plans value streams within sites • Performance metrics with clear • All site-level key process KPI and definition and reporting indicators defined Dashboard • Safety, Quality, Delivery, Cost, • Leadership dashboard Standardization People developed and implemented • Clear training and expectations • Site leadership lean training Continuous of leaders and all associates complete for all sites Improvement • Organizational design aligned • Organizational structure Culture to optimized operations. optimization in process 7 ITGR: Investor Presentation / September 2019

2019 Full-Year Outlook Adjusted Sales Adjusted EBITDA Adjusted EPS Growth % 9% - 10% 3% - 4.5% 20% - 22% $282 - $286 $1,253 - $1,268 $4.55 - $4.65 $259 $1,213 $3.80 Original Guidance $1,260 - $1,280 $275 - $283 $4.05 - $4.25 8 ITGR: Investor Presentation / November 2019 ($ in millions except per share amounts)

2019 Cash Flow Outlook ($ in millions) Free Cash Flow (1) Cash Flow From Ops Debt Payments Leverage (2) $700 No change, despite $548 $15 million $160 - $170 acquisition $110 - $120 Target $105 - $115 2.5x - 3.5x ~2.9x $67 - $77 Divestiture Proceeds Accelerated Repayment Required Repayment Original $160 - $170 $110 - $120 $105 - $115 2.5x - 3.5x Guidance (1) Free Cash Flow defined as Cash Flow from Operations less Capital Expenditures, net of proceeds from sale of property, plant, and equipment (2) Leverage calculated as total principal amount of debt outstanding less Cash and Cash Equivalents divided by Trailing 4 Quarter Adjusted EBITDA

Balanced & Disciplined Capital Allocation Leverage framework ü Continued EBITDA growth Significant deleveraging Increased free cash flow ü 6.1x ü Capacity for “bolt-on” acquisitions 5.6x Debt x Recently amended credit facility ü EBITDA reducing interest expense Leverage 3.5x ~2.5 - 3.5x 2.9x 2016 2017 2018 Y/E19 Guidance Disciplined capital deployment 10 ITGR: Investor Presentation / November 2019

Integer’s Journey – Executing Long-term Growth Strategy Revenue Growth versus Prior Year: 2015 2016 2017 2018 Strategic Objectives 2019 Guidance 2015 2016 2017 2018 2021 7% Market + 2% 3% - 4.5% 5% (2)% (4)% • Market growth, ex Nuvectra • 200bps above market • Market growth Declined • 2x revenue growth • At least 2x revenue growth • ~1x revenue growth Declined • Debt leverage 2.5x – 3.5x • Debt 2.5x – 3.5x • 6x à 3.5x >6x Sustained Disruption Stabilizing & Building Executing Strategy Outperformance • Product line strategy • Integrated $1.7B Lake • New leadership team Region acquisition • Operational Strategic “Excellence in • Operational stabilization Imperatives • Spun off Nuvectra everything we do” • Clear strategy • Executing bolt-on M&A • Challenging customer - Portfolio change relationships • Disciplined capital - Multi-year plans deployment 11 ITGR: Investor Presentation / November 2019

Contact Information Tony Borowicz SVP, Strategy, Corporate Development & Investor Relations Integer Tony.Borowicz@Integer.net (O) 716.759.5809 www.integer.net 12 ITGR: Investor Presentation / November 2019