Orthofix cuts 2026 pro forma sales view to $825M–$830M

Management tied its lower outlook to U.S. Spine softness and execution actions, as well as international order timing and foreign-exchange headwinds.

Available on EDGAR 11/09/2026 - 08:01 AM EST Accepted by SEC EDGAR 11/09/2026 - 08:01 AM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Orthofix Medical Inc. (OFIX) reported third-quarter 2026 net sales of $207.9 million, up 1.1% year over year as reported and 2.3% on a pro forma constant-currency basis. GAAP net loss was $6.1 million, versus $22.8 million a year earlier; non-GAAP adjusted EBITDA was $26.0 million, compared with $24.6 million.

The company lowered full-year 2026 pro forma net sales guidance to $825 million to $830 million and adjusted EBITDA guidance to $86 million to $88 million, from prior ranges of $845 million to $855 million and $95 million to $98 million. It cited third-quarter performance and the anticipated fourth-quarter impact of actions to improve U.S. Spine execution, instrument set availability and asset productivity. The outlook also reflects international Limb Reconstruction order timing and foreign-exchange headwinds.

For the first nine months of 2026, operating cash flow was negative $23.5 million, versus positive $5.7 million a year earlier; free cash flow was negative $61.3 million, versus negative $18.1 million. Cash, cash equivalents and restricted cash totaled $86.9 million at September 30, 2026.

2 points · 0 major

NegativeiHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

1 major · 3 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointQ3 adjusted EBITDA was $26.0 million, compared with $24.6 million a year earlier.
• Moderate pointQ3 GAAP operating income was $1.5 million, versus an operating loss of $17.0 million a year earlier.

Negative

• Major point. Forward-looking: it has not happened yet and may not happen.2026 adjusted EBITDA guidance fell to $86 million to $88 million from $95 million to $98 million.
• Moderate pointNine-month operating cash flow was negative $23.5 million, versus positive $5.7 million.
• Minor point. Forward-looking: it has not happened yet and may not happen.2026 net sales guidance fell to $825 million to $830 million from $845 million to $855 million.

Filing Explained

At September 30, 2026, Orthofix reported a 40,749 share-count figure and $221,847 thousand in long-term debt.

Orthofix furnished its third-quarter results release and investor presentation in this Form 8-K; the company says the information is not treated as filed for Section 18 purposes.

The balance sheet lists issued-and-outstanding share-count figures of 40,749 at September 30, 2026 and 39,834 at December 31, 2025; for a holder whose share count is unchanged, a higher total share count means lower percentage ownership, absent offsetting changes.

Long-term debt was $221,847 thousand at September 30, 2026, compared with $157,391 thousand at December 31, 2025.

8-K Event Classification

3 items: 2.02, 7.01, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Reported net sales: $207.9 million Reported net sales growth: 1.1% GAAP net loss: $6.1 million +4 more

7 metrics

Reported net sales $207.9 million Third quarter ended September 30, 2026

Reported net sales growth 1.1% Year over year, third quarter 2026

GAAP net loss $6.1 million Third quarter 2026; compared with $22.8 million in Q3 2025

Non-GAAP adjusted EBITDA $26.0 million Third quarter 2026; compared with $24.6 million in Q3 2025

2026 net sales guidance $825 million to $830 million Full-year guidance, revised from $845 million to $855 million

2026 adjusted EBITDA guidance $86 million to $88 million Full-year guidance, revised from $95 million to $98 million

Operating cash flow Negative $23.5 million Nine months ended September 30, 2026; compared with positive $5.7 million a year earlier

Key Terms

Constant currency, Free cash flow, Adjusted EBITDA, Pro forma net sales

4 terms

Constant currency financial

"Constant currency is a non-GAAP measure"

Constant currency is a way of measuring financial results that removes the effects of changes in currency exchange rates. It allows for a clearer comparison of a company's performance over time by showing what the numbers would look like if exchange rates had stayed the same. This helps investors understand whether growth comes from actual business improvements or just currency fluctuations.

Free cash flow financial

"Free cash flow is a non-GAAP financial measure"

Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.

Adjusted EBITDA financial

"Adjusted EBITDA, which is the primary metric used by the Company's chief operating decision maker"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

Pro forma net sales financial

"pro forma net sales represent a non-GAAP measure"

Pro forma net sales are a company’s reported revenue recalculated to show what sales would look like after removing or adding specific items or events (like a sale of a business, a merger, or one-time charges) so that results are more comparable across periods. For investors, pro forma net sales help reveal the company’s underlying sales trend by filtering out unusual or timing-driven effects—think of it as viewing a household budget after ignoring one-time windfalls or emergency expenses to see regular spending.

Earnings Snapshot

Reported net sales: $207.9 million · Guidance included

Third quarter ended September 30, 2026

Reported net sales $207.9 million Up 1.1% reported and 2.3% on a pro forma constant-currency basis year over year

GAAP net loss $6.1 million Compared with $22.8 million in Q3 2025

Non-GAAP adjusted EBITDA $26.0 million Compared with $24.6 million in Q3 2025

2026 net sales guidance $825 million to $830 million Revised from $845 million to $855 million

2026 adjusted EBITDA guidance $86 million to $88 million Revised from $95 million to $98 million

Guidance

Both guidance ranges assume current foreign-currency exchange rates.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were OFIX's Q3 2026 sales and adjusted EBITDA?

Orthofix reported net sales of $207.9 million, up 1.1% reported and 2.3% on a pro forma constant-currency basis year over year. Non-GAAP adjusted EBITDA was $26.0 million, compared with $24.6 million in Q3 2025.

What is Orthofix's revised 2026 guidance?

The company now expects full-year net sales of $825 million to $830 million and adjusted EBITDA of $86 million to $88 million. Both ranges assume current foreign-currency exchange rates; the sales outlook also reflects continued Spine softness, planned U.S. Spine actions, international Limb Reconstruction order timing and foreign-exchange headwinds.

How did OFIX's operating cash flow compare in the first nine months of 2026?

Operating cash flow was negative $23.5 million, compared with positive $5.7 million in the same period a year earlier. Free cash flow was negative $61.3 million, versus negative $18.1 million.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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false000088462400008846242026-11-092026-11-09

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 09, 2026

ORTHOFIX MEDICAL INC.

(Exact name of Registrant as Specified in Its Charter)

Delaware			000-19961	98-1340767
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
3451 Plano Parkway
Lewisville, Texas				75056
(Address of Principal Executive Offices)				(Zip Code)

Registrant's Telephone Number, Including Area Code: (214) 937-2000

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common stock, $0.10 par value per share		OFIX		Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On November 9, 2026, Orthofix Medical Inc. (the "Company") issued a press release announcing, among other things, its financial results for the third quarter ended September 30, 2026. A copy of the press release is furnished herewith as Exhibit 99.1 and attached hereto.

The information furnished in this Item 2.02, including the exhibit furnished herewith as Exhibit 99.1, will not be treated as "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section. This information will not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended (the "Securities Act"), or into another filing under the Exchange Act, unless that filing expressly incorporates by reference this Item 2.02 of this report.

Discussion of Non-GAAP Financial Measures

In addition to using standard measures of performance and liquidity that are recognized in accordance with accounting principles generally accepted in the United States of America ("GAAP"), the Company uses additional financial measures excluding certain GAAP items ("non-GAAP measures"), such as:

Constant Currency

Constant currency is a non-GAAP measure, which the Company calculates by using foreign currency rates from the comparable, prior-year period, to present net sales at comparable rates. Constant currency can be presented for numerous GAAP measures, but is most commonly used by management to analyze net sales without the impact of changes in foreign currency rates.

Free Cash Flow

Free cash flow is a non-GAAP financial measure, which is calculated by subtracting capital expenditures from cash flow provided by or used in operating activities. Free cash flow is an important indicator of how much cash is generated or used by the Company's business operations, including capital expenditures. Management uses free cash flow to measure progress on its capital efficiency and cash flow initiatives.

Adjusted Gross Profit and Adjusted Gross Margin

Adjusted gross profit represents GAAP gross profit with adjustments to exclude the impact of the certain items recorded to cost of sales. Potential adjustments are listed within the section below under the header "Non-GAAP Adjustments." Adjusted gross margin represents adjusted gross profit as a percentage of GAAP net sales.

Adjusted Net Income

Adjusted net income represents GAAP net loss with adjustments to exclude the impact of certain items recorded in such GAAP net loss. Potential adjustments are listed within the section below under the header "Non-GAAP Adjustments."

Adjusted Operating Expenses

Adjusted operating expenses represent GAAP operating expenses, such as sales, general, and administrative expense, and research and development expense, with adjustments to exclude the impact of certain items recorded in such GAAP operating expenses. Potential adjustments are listed within the section below under the header "Non-GAAP Adjustments."

Adjusted Non-Operating Expenses

Adjusted non-operating expenses represent GAAP non-operating expenses, such as interest income (expense), net and other income (expense), net, with adjustments to exclude the impact of certain items recorded in such GAAP non-operating expenses. Potential adjustments are listed within the section below under the header "Non-GAAP Adjustments."

EBITDA

EBITDA is a non-GAAP financial measure, which the Company calculates by adding interest expense (income), net; income tax expense (benefit); and depreciation and amortization to net loss. EBITDA provides management with additional insight into the Company's results of operations. Adjusted EBITDA, which is the primary metric used by the Company's chief operating decision maker in managing the business, consists of EBITDA with adjustments to exclude certain items listed within the section below under the header "Non-GAAP Adjustments."

Non-GAAP Adjustments

The Company's non-GAAP financial measures provide management with additional insight into the Company's results of operations and reflect the exclusion of the following items:

•Share-based compensation and long-term incentive plan expense – Costs related to awards granted under the Company's share-based compensation plans, which include stock options, performance-based or market-based stock options, restricted stock units, performance-based or market-based restricted stock units, stock issued under the Company's stock purchase plan, and performance-based cash-settled awards; see the share-based compensation footnote in the Company's Form 10-Q for the quarter ended September 30, 2026, for an allocation of share-based compensation costs by consolidated

statement of operations line item. Management excludes this item when evaluating the Company's operating performance as it primarily represents a non-cash expense.

•Foreign exchange impact – Gains and losses related to foreign currency transactions, which are recorded as other income (expense), net. Management excludes this item when evaluating the Company's operating results as it is primarily a non-cash expense or benefit and is non-operating in nature.

•SeaSpine merger-related costs – Costs related to the Company's merger with SeaSpine Holdings Corporation ("SeaSpine"), which was consummated in January 2023, including costs relating to integration efforts, severance and retention costs, product rationalization charges, contract termination penalties, and professional fees related to the merger. Management excludes this item when evaluating the Company's operating results as these costs associated with this event are of a temporary nature, are not related to the Company's core operating performance, and are not expected to recur at a similar frequency and magnitude in the future.

•Operating (income) losses and impairments related to M6 product lines – Restructuring costs, including severance-related benefits, and impairment charges incurred as a result of the Company's decision to discontinue its M6 artificial disc product lines (the "M6 product lines"), as well as operating income or loss generated by the M6 product lines, including the associated net sales, cost of sales, and operating expenses directly attributable to those product lines. Management excludes these items when evaluating the Company's operating results because the costs associated with this event relate to an exited product line and such results are not reflective of the Company’s expected ongoing operations.

•Strategic investments – Costs related to the Company's strategic investments, such as due diligence and integration costs (unrelated to the merger with SeaSpine), which are primarily recorded as sales, general, and administrative expenses. These costs are not factored into the evaluation of the Company's performance by management because they are of a temporary nature, not related to the Company's core operating performance, and because the frequency and amount of such costs vary significantly based on the timing and magnitude of the Company's strategic investments.

•Acquisition-related fair value adjustments – Comprised of gains and losses related to remeasurement of contingent consideration to fair value, which are recorded as operating expenses. Management excludes these adjustments when evaluating the Company's operating results as the remeasurement of contingent consideration is primarily non-cash in nature.

•Amortization/depreciation of acquired long-lived assets – Amortization of intangible assets acquired in business combinations or asset acquisitions, including items such as developed technologies, customer relationships, trade names, manufacturing agreements, and other intangible assets, and any impairment of acquired goodwill, which are recorded in cost of sales or operating expenses. This item also includes depreciation recognized on adjustments to the fair value of certain long-lived assets acquired in the merger with SeaSpine. Management excludes this item when evaluating the Company's operating performance as it represents a non-cash expense.

•Litigation and investigation costs – Inclusive of (i) adverse or favorable legal judgments or negotiated legal settlements and certain related legal expenses and (ii) amounts incurred in relation to and as a result of the Board of Directors' investigation conducted by independent outside legal counsel that resulted in the departure of three former executive officers and certain charges stemming from these actions. These charges are primarily recorded within sales, general, and administrative expenses. Management excludes these items when evaluating the Company's operating results as these costs and/or benefits can vary significantly based on the timing, frequency, and magnitude of litigation matters or investigations.

•Interest and loss on investments – Interest income and net gains or losses recognized (realized or unrealized) within interest income (expense), net and other income (expense), net, respectively, relating to certain of the Company's investments. Management excludes these items when evaluating the Company's operating performance as it typically represents a non-cash gain or loss and is not related to the Company's core operating performance.

•Employee retention credit – Pertains to refunds received, interest earned, or professional fees incurred associated with the refundable payroll tax credit established by the Coronavirus Aid, Relief, and Economic Security Act. Management excludes this item when evaluating the Company's operating results as these amounts primarily relate to costs incurred in prior years, and are not related to the Company's ongoing operations.

•Employee transition costs – Severance-related benefits and other employee separation costs incurred in connection with discrete workforce optimization initiatives, organizational realignment activities, and leadership changes. These expenses are primarily recorded within sales, general and administrative expenses. Management excludes these costs when evaluating operating results because they are associated with specific actions undertaken to improve organizational efficiency and are not considered reflective of the Company's underlying operating performance.

•Long-term income tax rate adjustment – Reflects management's expectation of a long-term normalized effective tax rate of 28% for 2025 and 2026 results, which is based on current tax law and current expected adjusted income; actual reported tax expense will ultimately be based on GAAP earnings and may differ from the expected long-term normalized effective tax rate due to a variety of factors, including the resolution of issues arising from tax audits with various tax

authorities, the ability to realize deferred tax assets, and the tax impact of certain reconciling items that are excluded in determining adjusted net income (loss).

Usefulness and Limitations of Non-GAAP Financial Measures

Management uses non-GAAP measures to evaluate performance period-over-period, analyze the underlying trends in the Company's business, assess the Company's performance relative to its competitors, and establish operational goals and forecasts used in allocating resources. Management uses these non-GAAP measures as the basis for evaluating the ability of the Company's underlying operations to generate cash, prior to required investments in working capital, and to further its understanding of the performance of the Company's business units.

Material Limitations Associated with the Use of Non-GAAP Financial Measures

The non-GAAP financial measures described above may have limitations as analytical tools, and should not be considered in isolation or as a replacement for GAAP financial measures. Some of the limitations associated with the use of these non-GAAP financial measures are that they exclude items that reflect an economic cost and can have a material effect on cash flows. Similarly, certain non-cash expenses, such as share-based compensation, do not directly impact cash flows, but are part of total compensation costs accounted for under GAAP.

Compensation for Limitations Associated with Use of Non-GAAP Financial Measures

The Company compensates for the limitations of its non-GAAP financial measures by relying upon GAAP results to gain a complete picture of the Company's performance. GAAP results provide management with the ability to understand the Company's performance based on a defined set of criteria. The Company provides reconciliations of the non-GAAP financial measures to the most directly comparable GAAP measures and encourages investors to review these reconciliations.

Usefulness of Non-GAAP Financial Measures to Investors

The Company believes that providing non-GAAP financial measures, which exclude certain items, offers investors greater transparency into the information used by management in its financial and operational decision-making. Management believes it is important to provide investors with the same non-GAAP financial measures it uses to supplement information regarding the performance and underlying trends of the Company's business operations in order to facilitate comparisons to the Company's historical operating results and internally evaluate the effectiveness of the Company's operating strategies. The Company believes that these non-GAAP financial measures also facilitate comparisons of the Company's underlying operating performance with other companies in the industry that also supplement their GAAP results with non-GAAP financial measures.

Item 7.01. Regulation FD Disclosure.

The Company expects to use the corporate investor relations presentation furnished as Exhibit 99.2 to this report, in whole or in part, and possibly with modifications, in connection with presentations to investors, analysts, and others during the fiscal year ending December 31, 2026.

The information furnished in this Item 7.01, including the exhibit furnished herewith as Exhibit 99.2, will not be treated as "filed" for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section. This information will not be deemed incorporated by reference into any filing under the Securities Act, or into another filing under the Exchange Act, unless that filing expressly incorporates by reference this Item 7.01 of this report.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

99.1	Press release, dated November 9, 2026
99.2	Corporate Investor Relations Presentation, dated November 9, 2026
104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Orthofix Medical Inc.
By:		/s/ JULIE ANDREWS
		Julie Andrews Chief Financial Officer

Date: November 9, 2026

Exhibit 99.1

News Release

Orthofix Reports Third Quarter 2026 Results and Revises Full-Year 2026 Guidance

LEWISVILLE, Texas — November 9, 2026 — Orthofix Medical Inc. (NASDAQ:OFIX), a leading global medical technology company, today reported financial results for the third quarter ended September 30, 2026, and revised its full-year 2026 net sales and non-GAAP adjusted EBITDA guidance. Unless otherwise noted, pro forma results exclude the impact of the discontinued M6™ product lines.

Third Quarter 2026 Highlights

•Total reported net sales of $207.9 million, representing an increase of 1% on a reported basis and 2% on a pro forma constant currency basis compared with the prior year period.

•Reported net loss of $(6.1) million and non-GAAP adjusted EBITDA of $26.0 million.

•Revised full-year 2026 pro forma net sales guidance to $825 million to $830 million and non-GAAP adjusted EBITDA guidance to $86 million to $88 million, reflecting third-quarter performance and the anticipated fourth quarter impact of actions to improve U.S. Spine execution, instrument set availability and asset productivity.

•Global Spine Fixation1 net sales increased 1% on a reported and constant currency basis compared with the prior year period.

•Global Limb Reconstruction net sales increased 8% on a reported basis and 9% on a constant currency basis compared with the prior year period.

•Therapeutic Solutions net sales increased 4% compared with the prior year period.

“Continued growth in Limb Reconstruction and Therapeutic Solutions helped offset weaker Spine performance,” said Massimo Calafiore, President and Chief Executive Officer. “In U.S. Spine, we are accelerating actions to strengthen commercial execution, improve instrument set supply and allocation, and increase asset productivity by focusing resources on our highest-performing distributor partners, products and market opportunities. Our revised guidance reflects third-quarter performance and the near-term impact of these actions, which are intended to build a stronger foundation for sustainable growth, profitability and cash generation.”

1 Spine Fixation is comprised of the Company’s Spinal Implants product category, excluding motion preservation product offerings.

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Financial Results Overview

Third Quarter 2026 Net Sales and Financial Results

The following table presents net sales by product category and reporting segment on a pro forma basis, removing the effects of the Company’s discontinued M6 product lines:

		Three Months Ended September 30,
(Unaudited, U.S. Dollars, in millions)		2026				2025				Change				Constant Currency Change
Therapeutic Solutions		$	64.0			$	61.2				4.5	%			4.5	%
Spinal Implants, Biologics and Enabling Technologies*			107.4				108.6				(1.1	%)			(1.1	%)
Global Spine*			171.4				169.8				0.9	%			0.9	%
Global Limb Reconstruction			36.4				33.6				8.5	%			9.4	%
Pro forma net sales*			207.8				203.4				2.2	%			2.3	%
Impact from discontinuation of M6 product lines			0.1				2.2				(96.8	%)			(96.8	%)
Reported net sales		$	207.9			$	205.6				1.1	%			1.2	%

* Results above for each of Spinal Implants, Biologics, and Enabling Technologies; Global Spine; and pro forma net sales exclude the impact from discontinuation of the M6 product lines. Since pro forma net sales represent a non-GAAP measure, see the reconciliation above of the Company’s pro forma net sales to its reported figures under U.S. GAAP. The Company’s reported figures under U.S. GAAP represent each of the pro forma line items discussed above plus the impact from discontinuation of the M6 product lines.

For the third quarter of 2026, net sales were $207.9 million, representing an increase of 1.1% on a reported basis and 2.3% on a non-GAAP pro forma constant currency basis compared to third quarter 2025.

For the third quarter of 2026, GAAP gross margins were 70.5% and were 70.7% on a non-GAAP adjusted basis.

For the third quarter of 2026, reported net loss was $(6.1) million, or $(0.15) per share compared to reported net loss of $(22.8) million, or $(0.57) per share in the prior year period. Non-GAAP adjusted EBITDA was $26.0 million, or 12.5% of pro forma net sales, in the third quarter of 2026, compared to non-GAAP adjusted EBITDA of $24.6 million, or 12.1% of pro forma net sales, in the third quarter of 2025. The year-over-year increase primarily reflected continued cost discipline and resource alignment initiatives, partially offset by lower Spine revenue, unfavorable geographic mix and the related reduction in operating leverage.

Liquidity

Cash, cash equivalents, and restricted cash totaled $86.9 million at September 30, 2026, compared with $104.4 million at June 30, 2026. The sequential change primarily reflected working capital timing.

Business Outlook

Orthofix is revising its full-year 2026 net sales and adjusted EBITDA guidance. Both guidance ranges assume current foreign currency exchange rates.

•Net sales are now expected to range from $825 million to $830 million, compared with prior guidance of $845 million to $855 million.

•Non-GAAP adjusted EBITDA guidance is now expected to range from $86 million to $88 million, compared with prior guidance of $95 million to $98 million.

An investor presentation for the Company’s third quarter 2026 financial results is available in the “Events & Presentations” section of the Orthofix Investor Relations website at ir.orthofix.com.

Conference Call

Orthofix will host a conference call today at 8:30 AM Eastern Time to discuss the Company’s financial results for the third quarter ended September 30, 2026. Interested parties may access the conference call by dialing (833) 461-5787 in the U.S., and (585) 542-9983 in all other locations, and referencing the conference ID

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165515415. A webcast and replay of the conference call may be accessed in the “Events & Presentations” section of the Orthofix Investor Relations website at ir.orthofix.com.

Internet Posting of Information

Orthofix regularly shares important updates in the “Investors” section of its website at www.orthofix.com. The Company encourages investors and potential investors to consult the Orthofix website regularly for important information about Orthofix.

About Orthofix

Orthofix is a global medical technology company dedicated to advancing healing and restoring mobility for patients with complex musculoskeletal conditions. Headquartered in Lewisville, Texas, the Company offers a differentiated portfolio of spinal implants, therapeutic solutions, limb reconstruction systems, biologics and enabling technologies, including the 7D FLASH™ Navigation System. Orthofix’s technology-enabled solutions are designed to support surgeons across the continuum of care and improve outcomes for patients. Learn more at Orthofix.com and follow Orthofix on LinkedIn.

Forward-Looking Statements

This communication contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, relating to our business and financial outlook, which are based on our current beliefs, assumptions, intentions, plans, expectations, estimates, forecasts and projections. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “projects,” “intends,” “predicts,” “potential,” “positioned,” “deliver,” or “continue” or other comparable terminology. Forward-looking statements in this communication include, among other things, statements regarding the Company's business and financial outlook; expected net sales and adjusted EBITDA for the year ending December 31, 2026; ongoing and planned commercial and resource-allocation initiatives; and the anticipated effects of those initiatives on net sales, capital efficiency, growth, profitability and cash generation. Forward-looking statements are not guarantees of our future performance, are based on our current expectations and assumptions regarding our business, the economy and other future conditions, and are subject to risks, uncertainties and changes in circumstances that are difficult to predict, including the risks described in Part I, Item 1A under the heading Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2025, and in Part II, Item 1A under the heading Risk Factors in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2026. Factors that could cause future results to differ from those expressed by forward-looking statements include, but are not limited to, (i) our ability to maintain operations to support our customers and patients in the near-term and to capitalize on future growth opportunities, (ii) risks associated with acceptance of surgical products and procedures by surgeons and hospitals, (iii) development and acceptance of new products or product enhancements, (iv) clinical and statistical verification of the benefits achieved via the use of our products, (v) our ability to adequately manage inventory, (vi) our ability to successfully optimize our commercial channels, (vii) our success in defending legal proceedings brought against us, and (viii) the other risks and uncertainties more fully described in our periodic filings with the Securities and Exchange Commission (the “SEC”). As a result of these various risks, our actual outcomes and results may differ materially from those expressed in these forward-looking statements.

Further, any forward-looking statement speaks only as of the date hereof, unless it is specifically otherwise stated to be made as of a different date. The Company undertakes no obligation to update, and expressly disclaims any duty to update, its forward-looking statements, whether as a result of circumstances or events that arise after the date hereof, new information, or otherwise, except as required by law.

The Company is unable to provide expectations of GAAP net income (loss), the closest comparable GAAP measures to adjusted EBITDA (which is a non-GAAP measure), on a forward-looking basis because the

3

Company is unable to predict, without unreasonable efforts, the ultimate outcome of matters (including acquisition-related expenses, accounting fair value adjustments, and other such items) that will determine the quantitative amount of the items excluded in calculating adjusted EBITDA, which items are further described in the reconciliation tables and related descriptions below. These items are uncertain, depend on various factors, and could be material to the Company’s results computed in accordance with GAAP.

Company Contact

Investors and Media

Julie Dewey, IRC

Chief Investor Relations & Communications Officer

JulieDewey@Orthofix.com

+1 209.613.6945

4

ORTHOFIX MEDICAL INC.

Condensed Consolidated Statements of Operations

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
(Unaudited, U.S. Dollars, in thousands, except share and per share data)		2026				2025				2026				2025
Net sales		$	207,862			$	205,634			$	615,503			$	602,401
Cost of sales			61,316				57,111				179,704				192,726
Gross profit			146,546				148,523				435,799				409,675
Sales, general, and administrative			125,330				148,102				398,271				417,576
Research and development			15,277				14,774				46,541				50,474
Acquisition-related amortization, impairment, and remeasurement			4,394				2,693				12,012				23,547
Operating income (loss)			1,545				(17,046	)			(21,025	)			(81,922	)
Interest expense, net			(5,889	)			(4,681	)			(17,638	)			(13,137	)
Other income (expense), net			(904	)			(535	)			(2,416	)			6,441
Loss before income taxes			(5,248	)			(22,262	)			(41,079	)			(88,618	)
Income tax expense			(826	)			(533	)			(1,701	)			(1,352	)
Net loss		$	(6,074	)		$	(22,795	)		$	(42,780	)		$	(89,970	)
Net loss per common share:
Basic		$	(0.15	)		$	(0.57	)		$	(1.05	)		$	(2.28	)
Diluted			(0.15	)			(0.57	)			(1.05	)			(2.28	)
Weighted average number of common shares (in millions):
Basic			41.2				39.8				40.8				39.5
Diluted			41.2				39.8				40.8				39.5

5

ORTHOFIX MEDICAL INC.

Condensed Consolidated Balance Sheets

(U.S. Dollars, in thousands, except par value data)		September 30, 2026				December 31, 2025
		(Unaudited)
Assets
Current assets
Cash and cash equivalents		$	86,322			$	82,025
Restricted Cash			598				3,090
Accounts receivable, net of allowances of $11,583 and $8,308, respectively			131,719				135,746
Inventories			190,357				172,319
Prepaid expenses and other current assets			21,791				23,667
Total current assets			430,787				416,847
Property, plant, and equipment, net			133,388				129,399
Intangible assets, net			62,904				72,765
Goodwill			194,934				194,934
Other long-term assets			33,748				36,702
Total assets		$	855,761			$	850,647
Liabilities and shareholders’ equity
Current liabilities
Accounts payable		$	58,032			$	58,392
Current portion of finance lease liability			136				837
Other current liabilities			80,217				111,253
Total current liabilities			138,385				170,482
Long-term debt			221,847				157,391
Long-term portion of finance lease liability			12,868				17,060
Other long-term liabilities			53,094				55,677
Total liabilities			426,194				400,610
Contingencies
Shareholders’ equity
Common shares $0.10 par value; 100,000 shares authorized;     40,749 and 39,834 issued and outstanding as of September 30,     2026, and December 31, 2025, respectively			4,075				3,983
Additional paid-in capital			837,165				813,769
Accumulated deficit			(411,113	)			(368,333	)
Accumulated other comprehensive income (loss)			(560	)			618
Total shareholders’ equity			429,567				450,037
Total liabilities and shareholders’ equity		$	855,761			$	850,647

6

ORTHOFIX MEDICAL INC. Non-GAAP Financial Measures

The following tables present reconciliations of various financial measures calculated in accordance with U.S. generally accepted accounting principles (“GAAP”), to various non-GAAP financial measures that exclude (or in the case of free cash flow, include) items specified in the tables. The GAAP measures shown in the tables below represent the most comparable GAAP measure to the applicable non-GAAP measure(s) shown in the table. For further information regarding the nature of these exclusions, why the Company believes that these non-GAAP financial measures provide useful information to investors, the specific manner in which management uses these measures, and some of the limitations associated with the use of these measures, please refer to the Company’s current report on Form 8-K regarding this press release filed today with the SEC available on the SEC’s website at www.sec.gov and on the “Investors” page of the Company’s website at www.orthofix.com.

The Company’s non-GAAP financial measures for the three and nine months ended September 30, 2026, and 2025, have been adjusted to eliminate the financial effects of the Company’s decision to discontinue its M6 product lines.

Adjusted Gross Profit and Adjusted Gross Margin

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
(Unaudited, U.S. Dollars, in thousands)		2026				2025				2026				2025
Gross profit		$	146,546			$	148,523			$	435,799			$	409,675
Share-based compensation and long-term incentive plan expense			236				368				1,029				1,297
SeaSpine merger-related costs			116				(438	)			(187	)			4,503
Gross profit and impairments related to M6 product lines			(106	)			(1,989	)			(621	)			9,176
Strategic investments			—				1				—				57
Amortization/depreciation of acquired long-lived assets			109				276				394				940
Employee transition costs			13				—				606				—
Adjusted gross profit		$	146,914			$	146,741			$	437,020			$	425,648
Adjusted gross margin as a percentage of reported net sales			70.7	%			71.4	%			71.0	%			70.7	%
Adjusted gross margin as a percentage of pro forma net sales			70.7	%			72.1	%			71.0	%			71.7	%

7

Adjusted EBITDA

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
(Unaudited, U.S. Dollars, in thousands)		2026				2025				2026				2025
Net loss		$	(6,074	)		$	(22,795	)		$	(42,780	)		$	(89,970	)
Income tax expense			826				533				1,701				1,352
Interest expense, net			5,889				4,681				17,638				13,137
Depreciation and amortization			13,172				12,941				39,938				64,243
Share-based compensation and long-term incentive plan expense			6,969				7,181				21,552				21,474
Foreign exchange impact			744				571				2,390				(3,224	)
SeaSpine merger-related costs			412				126				915				6,142
Operating losses and impairments related to M6 product lines			464				6				1,802				15,485
Strategic investments			509				227				2,093				4,094
Acquisition-related fair value adjustments			1,396				(427	)			3,014				(1,800	)
Interest and loss on investments			—				(10	)			(16	)			(41	)
Litigation and investigation costs			301				21,548				5,402				28,619
Employee retention credit			—				—				(951	)			(2,854	)
Employee transition costs			1,428				—				3,170				—
Adjusted EBITDA		$	26,036			$	24,582			$	55,868			$	56,657
Adjusted EBITDA as a percentage of reported net sales			12.5	%			12.0	%			9.1	%			9.4	%
Adjusted EBITDA as a percentage of pro forma net sales			12.5	%			12.1	%			9.1	%			9.5	%

Adjusted Net Income

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
(Unaudited, U.S. Dollars, in thousands)		2026				2025				2026				2025
Net loss		$	(6,074	)		$	(22,795	)		$	(42,780	)		$	(89,970	)
Share-based compensation and long-term incentive plan expense			6,969				7,181				21,552				21,474
Foreign exchange impact			744				571				2,390				(3,224	)
SeaSpine merger-related costs			696				151				1,287				9,411
Operating (income) losses and impairments related to M6 product lines			466				(438	)			1,940				35,945
Strategic investments			511				235				2,101				4,142
Acquisition-related fair value adjustments			1,396				(427	)			3,014				(1,800	)
Amortization/depreciation of acquired long-lived assets			3,107				3,396				9,392				12,251
Litigation and investigation costs			301				21,548				5,402				28,619
Interest and loss on investments			—				(10	)			(16	)			(41	)
Employee retention credit			—				—				(1,135	)			(3,616	)
Employee transition costs			1,428				—				3,170				—
Long-term income tax rate adjustment			(2,078	)			(2,252	)			(544	)			(2,720	)
Adjusted net income		$	7,466			$	7,160			$	5,773			$	10,471

Cash Flow and Free Cash Flow

		Nine Months Ended September 30,
(Unaudited, U.S. Dollars, in thousands)		2026				2025
Net cash provided by (used in) operating activities		$	(23,471	)		$	5,650
Net cash used in investing activities			(37,664	)			(23,727	)
Net cash provided by (used in) financing activities			63,228				(3,163	)
Effect of exchange rate changes on cash			(288	)			1,448
Net change in cash, cash equivalents, and restricted cash		$	1,805			$	(19,792	)

8

		Nine Months Ended September 30,
(Unaudited, U.S. Dollars, in thousands)		2026				2025
Net cash provided by (used in) operating activities		$	(23,471	)		$	5,650
Capital expenditures			(37,810	)			(23,749	)
Free cash flow		$	(61,281	)		$	(18,099	)

Reconciliation of Non-GAAP Financial Measures to Reported Operating Expenses

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
(Unaudited, U.S. Dollars, in thousands)		2026				2025				2026				2025
Sales, general, and administrative		$	125,330			$	148,102			$	398,271			$	417,576
Reconciling items impacting sales, general, and administrative:
SeaSpine merger-related costs			(509	)			(538	)			(1,265	)			(4,680	)
Operating losses and impairments related to M6 product lines			(211	)			(954	)			(1,668	)			(8,314	)
Strategic investments			(510	)			(199	)			(2,091	)			(1,940	)
Amortization/depreciation of acquired long-lived assets			—				—				—				(60	)
Litigation and investigation costs			(301	)			(21,548	)			(5,402	)			(28,169	)
Employee transition costs			(1,235	)			—				(2,383	)			—
Sales, general, and administrative expense, as adjusted		$	122,564			$	124,863			$	385,462			$	374,413
As a percentage of reported net sales			59.0	%			60.7	%			62.6	%			62.2	%
As a percentage of pro forma net sales			59.0	%			61.4	%			62.7	%			63.1	%

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
(Unaudited, U.S. Dollars, in thousands)		2026				2025				2026				2025
Research and development expense, as reported		$	15,277			$	14,774			$	46,541			$	50,474
Reconciling items impacting research and development:
SeaSpine merger-related costs			(70	)			(50	)			(209	)			(228	)
Operating losses and impairments related to M6 product lines			(390	)			(582	)			(1,049	)			(4,305	)
Strategic investments			(2	)			(34	)			(10	)			(2,144	)
Litigation and investigation costs			—				—				—				(450	)
Employee transition costs			(182	)			—				(182	)			—
Research and development expense, as adjusted		$	14,633			$	14,108			$	45,091			$	43,347
As a percentage of reported net sales			7.0	%			6.9	%			7.3	%			7.2	%
As a percentage of pro forma net sales			7.0	%			6.9	%			7.3	%			7.3	%

9

Reconciliations of Non-GAAP Financial Measures to Reported Non-Operating (Income) Expense

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
(Unaudited, U.S. Dollars, in thousands)		2026				2025				2026				2025
Non-operating (income) expense		$	6,793			$	5,216			$	20,054			$	6,696
Reconciling items impacting non-operating expense:
Non-operating (income) losses and impairments related to M6 product lines			30				(16	)			156				(54	)
Foreign exchange impact			(744	)			(571	)			(2,390	)			3,224
Interest and loss on investments			—				10				16				41
Employee retention credit			—				—				1,135				3,616
Non-operating expense, as adjusted		$	6,079			$	4,639			$	18,971			$	13,523
As a percentage of reported net sales			2.9	%			2.3	%			3.1	%			2.2	%
As a percentage of pro forma net sales			2.9	%			2.3	%			3.1	%			2.3	%

Source

Orthofix Medical Inc.

###

10

Drive Profitable Growth Investor Presentation November 2026

2 Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, relating to our business and financial outlook, which are based on our current beliefs, assumptions, intentions, plans, expectations, estimates, forecasts and projections. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “projects,” “intends,” “predicts,” “potential,” “positioned,” “deliver,” or “continue” or other comparable terminology. Forward-looking statements in this presentation include, among other things, statements regarding the Company’s business and financial outlook; expected net sales and adjusted EBITDA for the year ending December 31, 2026; ongoing and planned commercial and resource-allocation initiatives; and the anticipated effects of those initiatives on net sales, capital efficiency, growth, profitability and cash generation. Forward-looking statements are not guarantees of our future performance, are based on our current expectations and assumptions regarding our business, the economy and other future conditions, and are subject to risks, uncertainties and changes in circumstances that are difficult to predict, including the risks described in Part I, Item 1A under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025 and in Part II, Item 1A under the heading Risk Factors in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2026. Factors that could cause future results to differ from those expressed by forward-looking statements include, but are not limited to, (i) our ability to maintain operations to support our customers and patients in the near-term and to capitalize on future growth opportunities, (ii) risks associated with acceptance of surgical products and procedures by surgeons and hospitals, (iii) development and acceptance of new products or product enhancements, (iv) clinical and statistical verification of the benefits achieved via the use of our products, (v) our ability to adequately manage inventory, (vi) our ability to successfully optimize our commercial channels, (vii) our success in defending legal proceedings brought against us, and (viii) the other risks and uncertainties more fully described in our periodic filings with the Securities and Exchange Commission (the “SEC”). As a result of these various risks, our actual outcomes and results may differ materially from those expressed in these forward-looking statements. Further, any forward-looking statement speaks only as of the date hereof, unless it is specifically otherwise stated to be made as of a different date. The Company undertakes no obligation to update, and expressly disclaims any duty to update, its forward-looking statements, whether as a result of circumstances or events that arise after the date hereof, new information, or otherwise, except as required by law. The Company is unable to provide expectations of GAAP net income (loss), the closest comparable GAAP measure to adjusted EBITDA (which is a non-GAAP measure), on a forward-looking basis because the Company is unable to predict, without unreasonable efforts, the ultimate outcome of matters (including acquisition-related expenses, accounting fair value adjustments, and other such items) that will determine the quantitative amount of the items excluded in calculating adjusted EBITDA, which items are further described in the reconciliation tables and related descriptions in this presentation. These items are uncertain, depend on various factors, and could be material to the Company’s results computed in accordance with GAAP.

3 Non-GAAP Financial Measures Management uses certain non-GAAP financial measures in this presentation, most specifically Adjusted EBITDA, Adjusted Gross Margin, Adjusted Net Income and Free Cash Flow, as a supplement to GAAP financial measures to further evaluate the Company’s operating performance period over period, analyze the underlying business trends, assess performance relative to competitors and establish operational objectives. ​ Management believes it is important to provide investors with the same non-GAAP metrics it uses to evaluate the performance and underlying trends of the Company’s business operations to facilitate comparisons to its historical operating results and evaluate the effectiveness of its operating strategies. Disclosure of these non-GAAP financial measures also facilitates comparisons of the Company’s underlying operating performance with other companies in the industry that also supplement their GAAP results with non-GAAP financial measures.​ Unless noted otherwise, full-year guidance is based on the current foreign currency exchange rates and does not take into account any additional potential exchange rate changes that may occur this year. These non-GAAP financial measures should not be considered in isolation from, or as replacements for, the most directly comparable GAAP financial measures, as these measures are not prepared in accordance with U.S. GAAP.​ Reconciliations between GAAP and non‐GAAP results are included at the end of this presentation and represent the most comparable GAAP measure(s) to the applicable non-GAAP measure(s) shown in the table. For further information regarding the nature of these exclusions, why the Company believes that these non-GAAP financial measures provide useful information to investors, the specific manner in which management uses these measures, and some of the limitations associated with the use of these measures, please refer to the Company’s current report on Form 8-K regarding its third quarter 2026 press release filed on November 9, 2026 with the SEC and available on the SEC's website at www.sec.gov and on the “Investors” page of the Company’s website at www.orthofix.com. The Company’s non-GAAP financial measures for the three and nine months ended September 30, 2026, and 2025, have been adjusted to eliminate the financial effects of the Company’s decision to discontinue its M6 product lines. Amounts may not add due to rounding.​

4 Executive Summary The Orthofix Investment Thesis 01 Differentiated musculoskeletal platform: ~$834M in TTM pro forma net sales across spine, bone stimulation, limb reconstruction, biologics, and enabling technologies, addressing a combined ~$16B addressable market 02 Focused commercial execution: Building on growth in Therapeutic Solutions and Limb Reconstruction while addressing U.S. Spine distribution, product availability, and asset productivity 03 Proprietary navigation moat: 7D FLASH™ offers radiation-free intraoperative navigation for open spine procedures, supporting procedural efficiency and implant pull-through 04 Disciplined execution to improve profitability: ~71% TTM pro forma adjusted gross margin; revised 2026 guidance of $825M–$830M net sales and $86M–$88M adjusted EBITDA 05 Focus on improving free cash flow: Prioritizing working capital efficiency, inventory management, and instrument productivity to support progress toward positive free cash flow ~$834M TTM Pro Forma Net Sales ~$16B Addressable Market 71.1% TTM Pro Forma Adj. Gross Margin Above-Market Net Sales Growth in Global Limb Recon and Therapeutic Solutions Q3 2026 TTM as of 9/30/2026. Excludes discontinued M6 lines. 2026 guidance as of 11/9/2026; presented on a pro forma, constant currency basis. Above-market global net sales growth in Q3 2026 is on a YoY constant currency basis.

Q3 2026 Results Advancing Growth in Limb Reconstruction and Therapeutic Solutions While Working to Strengthen Spine 5

Q3 2026 Results Summary Q3 2026 Total Reported Net Sales: $208M2% YoY pro forma, constant currency growth Q3 2026 Non-GAAP Adjusted EBITDA: $26.0M 12.5% of pro forma net sales vs $24.6M in Q3 2025; 12.1% of pro forma net sales Q3 2026 Non-GAAP Adjusted Gross Margin: 70.7% vs 72.1% of pro forma net sales in Q3 2025  Q3 2026 Non-GAAP SG&A Expense: $122.6M 59% of pro forma net sales vs $124.9M in Q3 2025; 61% of pro forma net sales Q3 2026 Non-GAAP R&D Expense: $14.6M 7% of pro forma net sales vs $14.1M in Q3 2025; 7% of pro forma net sales Q3 2026 Total Reported Net Sales $207.9M and Q3 2026 Pro Forma Net Sales of $207.8M or +2% YoY* Therapeutic Solutions $64.0M +4.5% Global Limb Reconstruction $36.4M +9.4%* Global Spinal Implants, Biologics, and Enabling Technologies $107.4M -1.1%* International Spinal Implants, Biologics & Enabling Technologies  $14.6M +24.9%* U.S. Spinal Implants, Biologics & Enabling Technologies  $92.8M -4.3%* 86% 14% * YoY growth for Total Net Sales and Global and International Spinal Implants, Biologics, and Enabling Technologies is on a pro forma, constant currency basis compared to Q3 2025; U.S. Spinal Implants, Biologics and Enabling Technologies is on a pro forma basis compared to Q3 2025. YoY growth for Global Limb Reconstruction is on a constant currency basis compared to Q3 2025. Pro forma excludes discontinued M6 lines. 6

What We Said vs. What We Delivered Q3 2026: Growth moderated by U.S. Spine headwinds What We Said What We Delivered (Q3 2026) Net Sales Growth Committed to above-market growth with differentiated technology across ~$16B addressable market Total Reported Net Sales $207.9M +2% YoY CC* Growth in Limb Reconstruction and Therapeutic Solutions, together with continued stabilization in Biologics, was offset by weaker performance in U.S. Spine Margin Expansion Drive operational discipline for margin expansion with focus on gross margin improvement Rigorous allocation of resources to high-return opportunities Adj. EBITDA $26.0M 12.5% margin Resource alignment and cost actions underway to support path toward improved profitability Adj. Gross Margin 70.7% Decreased from 72.1% in Q3 2025, reflecting unfavorable geographic mix Commercial Execution Optimize commercial channels for growth, cross-selling, operating leverage Distributor optimization efforts are improving consistency and focus across priority growth platforms Improving execution, gaining visibility, and driving consistency across priority growth platforms In U.S. Spine, market softness, unplanned supplier delays and inventory and instrument set constraints limited growth among our largest distributors, while smaller distributors continued to underperform Global Limb Reconstruction net sales grew 9% YoY CC, driven by strong international demand and continued adoption of FITBONE™ and TRUELOK™ Elevate Therapeutic Solutions delivered above-market growth of 4% YoY, attractive margins and strong cash generation, providing stability within the portfolio 7 CC = Constant Currency YoY = Year-Over-Year * Net sales growth is on pro forma, constant currency basis and compared to same prior-year quarter .

SPINAL SOLUTIONS Global Spine Fixation net sales +1%* Accelerating plan to improve commercial execution and asset productivity by concentrating resources behind highest-performing distributor partners, products and market opportunities U.S. full commercial launch of VIRATA™ Spinal Fixation System expected later in Q4’26 THERAPEUTIC SOLUTIONS Net sales +4% Above market growth, attractive margins and strong cash generation AccelStim™ Device continuing to drive fracture market growth Q3 2026 Business Segment Highlights 8 * Net sales growth for Global Spine Fixation and Global Limb Reconstruction is on a constant currency basis compared to same prior-year period. LIMB RECONSTRUCTION Global Limb Recon net sales +9%* Continued acceleration in the worldwide adoption of TRUELOK Elevate System and FITBONE Bone Transport System Submitted 510(k) application for an automated version of TRUELOK Elevate System

Revising 2026 Net Sales and Adjusted EBITDA Guidance1 $825M –$830M Net Sales $86M –$88M Adj. EBITDA Net sales outlook reflects: Q3’26 performance, continued softness in the Spine market, and the anticipated impact of accelerated actions to improve U.S. Spine commercial execution, inventory and instrument-set availability, and productivity; Also reflects the timing of international Limb Reconstruction orders and foreign-exchange headwinds. Adj. EBITDA outlook reflects: Continued cost discipline, reduced incentive compensation and ongoing resource-allocation actions, partially offset by lower revenue and unfavorable geographic mix. 1 As of 11/9/2026. Inclusion of this information in this presentation is not a confirmation or an update of, and should not be construed or otherwise assumed to reflect any confirmation or update of, that guidance by Orthofix leadership as of any date other than 11/9/2026. This guidance range is based on current foreign currency exchange rates and does not take into account any additional potential exchange rate changes that may occur this year. Prior guidance: Net Sales $845M–$855M Adj. EBITDA $95M–$98M

Transforming a ~$16B Market Opportunity into Profitable, Scalable Growth Orthofix At-A-Glance 10

Differentiated Musculoskeletal Platform Driving Toward Profitability NASDAQ: OFIX | Musculoskeletal Pure-Play | ~$16B TAM ~$834M TTM Pro Forma Net Sales ~$85M TTM Pro Forma Adj. EBITDA ~71.1% TTM Pro Forma Adj. Gross Margin $369M Market Capitalization Platform Advantage Three growth segments across musculoskeletal care: Spinal Implants, Biologics and Enabling Technologies Therapeutic Solutions Limb Reconstruction Portfolio breadth + only zero-radiation navigation system 7D FLASH Commercial Momentum Cross-sell leverage over 3 segments Focused commercial strategy via established distributors Segment-level traction Above-Market Growth in Global Limb Recon and Therapeutic Solutions Favorable industry tailwinds Aging population and evolving standards of care Financial Path 2026E: $825M–$830M net sales, $86M–$88M adj. EBITDA Prioritizing FCF improvement: Cash usage –$108M (2023) TTM as of 9/30/2026. Excludes discontinued M6 lines. Market cap as of 10/30/2026. 2026 guidance as of 11/9/2026; presented on a pro forma, constant currency basis. Focused on margins, execution, and working capital to improve free cash flow TTM Net Sales % Near breakeven FCF (2025) Focused on achieving positive FCF Post-merger: focused model, margin discipline (2024)

Clear Strategic Pathway with Multiple Drivers for Value Creation Key Focus Areas & Priorities Innovate to drive growth and strengthen leading positions Future upside from high-impact new product launches Leverage technologies and sales channels across complementary product segments Create new entry points, cross-selling opportunities and stickier surgeon relationships Rigorous allocation of resources to high-return opportunities Focus on process and gross margin improvements Improved financial strength with profitability and term loan flexibility Invest in DifferentiatedTechnologies WhereOrthofix Can Win and Lead Capitalize on Multiple Access Points to Grow at Above-Market Rates Operate with Discipline for Margin Expansion Build Financial Resilience and Unlock Strong, Consistent Cash Flow Strategy is Driving Long-Term Profitable Growth

Platform Advantage and Commercial Momentum Innovation and Market Leadership Across the Musculoskeletal Continuum 13

Two Growth Pillars – One Integrated Performance Engine Therapeutic Solutions (formerly Bone Growth Therapies) Combined portfolio with Biologics to target trauma surgeons Combine with select Limb Reconstruction products Expanding domestically through legacy SeaSpine distribution and U.S. Limb Reconstruction channels Biologics Expand cross-selling with U.S. Limb Reconstruction channels Spine Maximize procedural selling opportunity with Biologics, Limb Reconstruction, and Enabling Technologies Limb Reconstruction Maximize procedural selling opportunity with Biologics, Limb Reconstruction, and Enabling Technologies Enabling Technologies (ET) Focus on 7D equipment placements to drive recurring implant usage Leverage investment and drive synergistic approach across the portfolio

Comprehensive Portfolio of Transformative Solutions Improved Clinical Efficiencies and Economic Value with 7D Enabling Technology EstablishedDistribution Channels and Extensive Global Commercial Reach Large Addressable Markets with High-Growth Opportunities Across Continuum of Care World-Class, Visionary Leadership Team with Deep Sector Expertise Expanding and Deepening Customer Relationships 15 Capitalizing on Clear Competitive Advantages

Total Addressable Market 2026 – 2028 Expected Market Growth Rate Spinal Implants ~$10.1B ~3% – 4% Therapeutic Solutions (formerly Bone Growth Therapies) ~$0.6B ~2% – 3% Biologics ~$2.1B ~2% – 3% Limb Reconstruction (formerly Orthopedics) ~$2.6B ~5% – 6% Enabling Technologies ~$0.4B ~10% – 12% Addressable Markets ~$16B within Full Continuum of Care Well-Positioned for Favorable Macro Trends Aging Population Digital Healthcare AI and Machine Learning Enabling Technology Advancement Evolving Standards of Care

Capability Orthofix ~$834M TTM Medtronic ~$5.3B Cranial & Spine Globus / NuVasive ~$2.5B Spine Alphatec ~$764M FY2025 Stryker ~$10.9B Ortho Enovis ~$2.2B FY2025 Spinal Implants ~$10.1B TAM Growing Share Deformity/cervical focus; Top 30 U.S. distributors ~80% of spine implant sales #1 Global ~$3.2B spine rev; AiBLE ecosystem; Mazor X robotics #2 Global ~$2.5B combined; ExcelsiusGPS robotics; MIS leader Fastest Growing $764M FY25 +25%; lateral/deformity focus Divested Implants Sold spine implants to VB Spine; retained Mako Spine tech No Dedicated Spine Joint reconstruction focus; no spine implant business Therapeutic Solutions (Bone Growth Stimulation) ~$0.6B TAM #1 Market Position 1.4M+ devices prescribed; most indications; PEMF since 1986 No Presence Does not compete in this segment No Presence Does not compete in this segment No Presence Does not compete in this segment No Presence Does not compete in this segment P&R Segment Bone stim in Prevention & Recovery; mid-high single-digit growth Biologics ~$2.1B TAM #2 Cellular Allograft Trinity Elite; #3 DBM; new OsteoCove synthetic launch Market Leader Infuse BMP dominates growth factors; broad portfolio Selective Focus Integrated biologics with spine implant pull-through Attachment Only 38% biologics attachment rate; not standalone offering Limited Presence Select partnerships; not a core focus area No Presence Does not compete in this segment Limb Reconstruction ~$2.6B TAM Proven Leader TL-HEX, Fitbone, TrueLok Elevate; 4 pillars across deformity, limb lengthening, fracture, preservation No Presence Does not compete in this segment Selective Focus Market leadership in limb lengthening products No Presence Does not compete in this segment Selective Focus Strong in trauma and extremities, external fixation; ~$3.95B Trauma & Extremities Revenue Limited Presence Extremities double-digit growth; external fixation Enabling Technologies ~$0.4B TAM Only Zero-Radiation 7D FLASH machine-vision IGS; 97.8% radiation reduction¹; 94% faster1 AiBLE Ecosystem Mazor X Stealth robotics; O-arm imaging; StealthStation Nav ExcelsiusGPS Robotic-assisted nav; strong installed base growth EOS Insight Imaging/informatics platform; 7% global installed base growth Mako Robotics Mako robotic-assisted surgery for joints; not spine-focused ARVIS AR Navigation Augmented reality for joints; not spine-focused Cross-Sell / Portfolio Integration Unique Advantage 7D drives spine implant pull-through; biologics + BGS + limb recon cross-sell across 3 segments Broad But Diffuse Massive conglomerate; spine is one of many divisions; limited cross-sell focus Spine-Focused Deep spine-only integration; implants + robotics; limited adjacent categories Spine-Only Ecosystem Deep spine integration via EOS; narrow but focused Joint-Focused Mako robotics centered on joints; spine divested Joint-Focused Recon + P&R integration; no spine cross-sell leverage Only Musculoskeletal Pure-Play Spanning Spine + Bone Stimulation + Limb Reconstruction + Biologics + Zero-Radiation Navigation IGS = Image-Guided Surgery Nav = Navigation PEMF = Pulsed ElectroMagnetic Field DBM = Demineralized Bone Matrix MIS = Minimally-Invasive Surgery 1 97.8% reduction in intraoperative radiation during adult degenerative spinal fusions; 94% faster than intraoperative CT-based systems. Sources: Company filings; iData Research; SmartTrak; ORTHOWORLD Spine Market Report (Apr 2026); SPINEMarketGroup. Revenue figures reflect most recent available reporting periods. TAM = 2025 Total Addressable Market estimates. Solely for convenience, trademarks and trade names referenced in this presentation, whether owned by us or by third parties, may appear without the ™ or ® symbols. The absence of such symbols should not be construed as affecting the ownership, validity or enforceability of any such trademark or trade name or, with respect to our trademarks and trade names, as an indication that we will not assert our rights therein to the fullest extent permitted under applicable law. Competitive Positioning Across ~$16B Addressable Market Differentiated portfolio spanning spine, biologics, bone stimulation, limb reconstruction, and enabling technologies

Spinal Implants Driving Innovation and Taking Share Select Product Examples Market Overview Sales channel optimization for growth, cross-selling, and OPEX leverage Pull through from lateral, cervical, and 7D earnouts Best-in-class implants to improve patient outcomes Interbody Cervical Thoracolumbar Fixation NorthStar™ OCT Mariner™ Deformity WaveForm™ (3D Printed) Explorer™ (Expandable) Reef™ (IBDs) ~$10.1BTAM1 Thoracolumbar Fixation Significant share capture opportunity ~3% – 4% market growth rate (2026 – 2028) Interbody Significant share capture opportunity ~3% – 4% market growth rate (2026 – 2028) Cervical Significant share capture opportunity ~3% – 4% market growth rate (2026 – 2028) OFIX Growth Drivers Shoreline™ ACS Wayfinder™ Phoenix™ MIS Meridian™ 1 2025 U.S. Total Addressable Market. Sources: iData Research Inc.; U.S. Market Report for Spinal Implants and VCF; SmartTrak US Spine Market Report; Internal OFIX estimates Supporting Clinicians and Patients through Continuous Innovation of Procedure Solutions Comprehensive, best-in-class spinal implants designed to work in concert with 7D Navigation and biologics to support improved clinical outcomes Focus on deformity correction Proven expertise in cervical fixation and material science

AccelStim™ SpinalStim™ PhysioStim™ CervicalStim™ Complex Foot & Ankle Reconstruction and Fracture Management Therapeutic Solutions (formerly Bone Growth Therapies) Maximizing #1 Market Position Exceeding Market Growth Rate through Innovation and Expansion Safe, effective, non-surgical solution to promote bone healing in fracture management and high-risk spine fusions Most comprehensive portfolio of bone growth stimulation devices Most indications on the market to aid in bone healing solutions Select Product Examples #1 prescribed bone growth stimulator First to offer free recycling for patients to properly dispose of their devices PEMF technology approved since 1986 Prescribed devices 1,400,000+ Spine Fusion Therapy Market Overview Procedural selling focused on cross-selling with limb reconstruction and spine New market channels with established sales representatives AccelStim growth to penetrate Fracture market ~$0.6BTAM1 Spine #1 Position ~2% – 3% market growth rate (2026 – 2028) Fracture #2 Position ~2% – 3% market growth rate (2026 – 2028) OFIX Growth Drivers Note: PEMF = Pulsed Electromagnetic Field. 1 2025 U.S. Total Addressable Market.

Biologics Continued Focus on Advancing our Portfolio Strategically Introducing New Products to Capture Additional Market Share Full spectrum of biologic solutions to enhance fusion process and promote bone repair and growth Provide industry leading, best-in-class products in each of the major bone grafting categories Select Product Examples Demineralized Bone Matrix OsteoStrand™ Plus Synthetic Procedure-Specific OsteoCove™ OsteoBallast™ Market Overview Opportunities in current portfolio and spine Product innovation with clinical research Disc regeneration, channel expansion options ~$2.1BTAM1 Synthetic Significant share capture opportunity ~2% – 3% market growth rate (2026 – 2028) Cellular Allograft #2 Position ~2% – 3% market growth rate (2026 – 2028) OFIX Growth Drivers Trinity Elite™ Cellular Allograft Growth Factors, Other Do not participate 1 2025 Global Total Addressable Market, including Growth Factors. Demineralized Bone Matrix #3 Position ~2% – 3% market growth rate (2026 – 2028)

Limb Reconstruction (formerly Orthopedics) Leading the Growth Unique portfolio of limb reconstruction solutions, addressing the most challenging orthopedic conditions in patients of all ages Proven Leader with Room to Grow through Innovation of Hardware and Digital Solutions Enabling Technologies - OrthoNext™ 1 2025 Global Total Addressable Market. Sources: iData Research Inc. 2021; Berkyl Global Market Analysis 2020; SmartTrak 2024; Orthoworld Industry Annual Report, 2024; Acuity MD Data, 2025; Grandview Research, 2023; US Bone Transport Procedure Volume Analysis, 2015; CDC National Diabetes Statistics Report, 2022; Brownrigg, et al. Evidence-based Management of PAD & the Diabetic Foot, 2013. 45(6), 673-681; Behroozian et al. Art Thro Vasc Biology, 2020. 40(3). Select Product Examples Galaxy Gemini™ ComplexFracture Management Fitbone™ Limb Lengthening TL-HEX™ Extremity Deformity Correction TrueLok™ Elevate Market Overview Accelerating U.S. growth and expanding position Global sales channel optimization through execution and focused distribution New, unique product platforms with next-gen digital capabilities OFIX Growth Drivers ~$2.6BTAM1 Complex Fracture Management ~3% – 4% market growth rate (2026 – 2028) Limb Lengthening ~9% market growth rate (2026 – 2028) Limb Preservation ~5% market growth rate (2026-2028) Extremity Deformity Correction ~5% – 6% market growth rate (2026 – 2028) Limb Preservation *Significant share capture opportunity across all 4 pillars

Complex Fracture Management Limb Lengthening Limb Preservation Extremity Deformity Correction LIMB RECON Industry leader with a unique portfolio of limb reconstruction solutions, addressing the most challenging conditions in patients of all ages ENABLING TECHNOLOGIES ENABLING TECHNOLOGIES 22 Four Focus Areas – Limb Reconstruction

Tibial cortex transverse transport: Historical evolution, clinical applications, and future directions-Schroeder, et al. Foot & Ankle Surgery: Techniques, Reports & Cases, Vol 5, Issue 3, 100513 © 2025 The Author(s). Published by Elsevier Inc. on behalf of American College of Foot and Ankle Surgeons. Orthofix has not made any changes to the image above and use of this image is in no way an endorsement of the Journal or Authors Supporting surgeon-led correction of complex bony and soft-tissue defects Innovation Spotlight: TrueLok Elevate System The TrueLok Elevate device has not been approved by the FDA for treatment of ulcers and the safety and effectiveness of the TrueLok Elevate for treatment of ulcers has not been established. Minimally invasive, quick application, reproducible technique Versatile design Sterile, ready to use components 23

Patient Case Study – What Limb Reconstruction Means for Justin Background Justin, a 6'9" newlywed, suffered from severe genu valgum (knock‑knees) that caused chronic pain and limited mobility. As he prepared for fatherhood, he feared becoming disabled without corrective surgery. OFIX Unique Solution Under the care of Dr. William Terrell, the team elected to treat both legs simultaneously TL-HEX External Fixation System used on tibias for gradual, precise realignment Life is much better than it was before the surgery. I am almost back to 100% to what I should have been before. – Justin Click here for Justin’s story Before After Result / Outcomes Successful Orthofix-supported deformity correction procedure Restoration of patient mobility Strengthened customer loyalty

Enabling Technologies Empowering Excellence with Real-Time, Integrated Smart Technologies Seizing Significant Opportunity to Leverage Technology and Expand Share in Spine FLASH Navigation with 7D Technology, world’s leading zero-radiation1 spine image-guided surgery system Allows surgeons to perform fast, cost-effective, and radiation-free surgery Pacesetting leader for open spine procedures and deformity correction Open and Percutaneous Spine Modules2 Market Overview OFIX Growth Drivers 7D deployments through commercial financing structures and product pull through Product integration with spinal implant portfolio Digital ecosystem expansion (pre-op planning, intra-op navigation, and post-op care) ~$0.4BTAM3 Spinal Navigation Significant share capture opportunity ~10% – 12% market growth rate (2026 – 2028) FLASH Navigation with 7D Technology Product Example Significant Focus in Spine 1 Based on a pre-op CT or MRI, no intra-op radiation is required using Open Spine Module, eliminating exposure to surgeons, staff, and patients. Intra-op radiation is required for Percutaneous Module. 2 ~40% of U.S. installed base has cranial module. 3 Global Total Addressable Market.

Innovation Spotlight – FLASH Navigation with 7D Technology Technology Differentiates Portfolio While Enabling Service to Full Continuum of Surgical Care 97.8% reduction in intraoperative radiation during adult degenerative spinal fusions1* Revolutionizing Spinal Navigation Created Meaningful Advantages with FLASH Navigation with 7D Technology 61% reduction in intraoperative radiation during complex pediatric deformity spinal fusions2* 98.8% accurate with no pedicle breach1* 94% faster than intraoperative CT-based systems3* 63.6 minutes saved per case4* Flexible Selling Models to Meet Unique Needs of Facility First and only image-guided surgery (IGS) system featuring 7D’s machine-vision technology, allowing surgeons to perform fast, cost-effective, radiation-free IGS Capital Purchase Lease “Earnout” through purchase of spine hardware and/or biologics; creating recurring revenue stream and stronger customer relationships Voyager Earnout Program *Not an Orthofix sponsored clinical study. 1 Malham GM, Munday NR. Comparison of novel machine vision spinal image guidance system with existing 3D fluoroscopy-based navigation system: a randomized prospective study. Spine J. 2022 Apr;22(4):561-569. doi: 10.1016/j.spinee.2021.10.002. Epub 2021 Oct 16. PMID: 34666179. 2 Comstock, Christopher P. MD; Wait, Eric MD. Novel Machine Vision Image Guidance System Significantly Reduces Procedural Time and Radiation Exposure Compared With 2-dimensional Fluoroscopy-based Guidance in Pediatric Deformity Surgery. Journal of Pediatric Orthopaedics ():10.1097/BPO.0000000000002377, March 6, 2023. | DOI: 10.1097/ BPO.0000000000002377 3 Jakubovic R, Guha D, Gupta S, et al. High speed, high density intraoperative 3D optical topographical imaging with efficient registration to MRI and CT for craniospinal surgical navigation. Sci Rep. 2018;8:14894. doi:10.1038/s41598-018-32424-z. 4 Lim KBL, Yeo ISX, Ng SWL, Pan WJ, Lee NKL. The machine-vision image guided surgery system reduces fluoroscopy time, ionizing radiation and intraoperative blood loss in posterior spinal fusion for scoliosis. Eur Spine J. 2023 Jul 10. doi: 10.1007/s00586-023-07848-5. Epub ahead of print. PMID: 37428212.Stewart G. Visible Light Navigation in Spine Surgery: My Experience With My First 150 Cases. Int J Spine Surg. 2022 Oct;16(S2):S28-S36. doi: 10.14444/8274. Epub 2022 Aug 5. PMID: 36456113; PMCID: PMC9808787.

Financial Path Operational Excellence and Strategic Investment Converging on Strong Cash Generation 27

lp Looking Forward Accelerating Our Profitable Growth Engine Advancing Toward Our Goals for Consistent Above-Market Growth,Improved Profitability, and Positive Free Cash Flow Invest inDifferentiatedTechnologies in Areas Where We Can Win and Lead Innovation Capitalize on Multiple Access Points to Grow Business at Sustained, Above-Market Rates Operate with Discipline for Margin Expansion Strengthen Financial Resilienceand Prioritize Free Cash Flow Improvement 28

lp Investing in Differentiated Technologies Innovation Driving Growth and Strengthening Leading Market Positions Systematic Approach to Driving Innovation Rigorous allocation of resources to high-return opportunities Leverage technologies (7D, Biologics, Therapeutic Solutions) and sales channels (Spine, Limb Reconstruction) across complementary product segments Build enabling technology ecosystem using next-gen data, navigation and connected products for pre-, intra-, and post-op solutions Extensive expertise in intra-op surgical navigation creating accurate, efficient, and uninterrupted surgical workflow Continuum of musculoskeletal care integrated by Enabling Technologies Focal KPIs 1 Regular cadence of meaningful, high-impact new product launches 2 7% – 8% of salesinvested in R&D 3 Sustained sharecapture in U.S. Spine & U.S. Limb Reconstruction

Operating with Discipline for Margin Expansion Well-Developed Infrastructure in Place to Further Scale and Support Growth Our Approach to Operational Excellence Building culture of excellence and accountability through implementation of the High Performance Management System (HPMS) Focusing on “Vital Few” initiatives to enhance operational excellence and drive business performance Key levers to drive higher margins and profitability across Company include: Rigorous allocation of resources to high-return opportunities Gross margin improvement Process improvements

Capital Allocation Priorities Investing to drive future profitable growth 1 Organic Growth Reinvest in business; enhance commercial channel; target capital spend levels at ~5% of sales 2 Inorganic Growth Tuck-in M&A to enhance growth & margin profile, support category leadership 3 Capital Structure Debt paydown and fortify balance sheet 4 Return of Capital In the absence of value-creating opportunities 31

World-Class Leadership Team with Extensive Med Tech Expertise – Focused on Results Combining Deep Institutional Knowledge with Fresh Perspectives and Proven Approaches Massimo Calafiore President and Chief Executive Officer Patrick Fisher President, Global Biologics and Limb Reconstruction Julie Andrews Chief Financial Officer Year Joined: 2024 Years in Industry: 20+ Year Joined: 2024 Years in Industry: 25+ Year Joined: 2024 Years in Industry: 25+ Aviva McPherron President, Global Operations & Quality Lucas Vitale Chief People & Business Operations Officer Beau StandishPhD, PEng Chief EnablingTechnologies Officer Year Joined: 2023 Years in Industry: 15+ Year Joined: 2024 Years in Industry: 10+ Year Joined: 2024 Years in Industry: 20+ Andrés Cedrón Chief Legal Officer Jill Mason Chief Compliance & Risk Officer Julie Dewey Chief Investor Relations & Communications Officer Year Joined: 2024 Years in Industry: 15+ Year Joined: 2024 Years in Industry: 25+ Year Joined: 2015 Years in Industry: 15+ Jason Shallenberger President,Therapeutic Solutions Year Joined: 2005 Years in Industry: 20+

Investment Summary Catalysts and Upside Drivers 01 Near-term product catalysts: VIRATA Spinal Fixation System full commercial launch expected 4Q’26; future clearance for automated version of TRUELOK Elevate; continued traction for OsteoCove synthetic graft 02 Expanding technology ecosystem: 7D FLASH driving recurring implant pull-through via Voyager earnout program; digital platform spanning pre-op planning, intra-op navigation, and post-op care 03 Operational leverage ahead: accelerating actions to strengthen U.S. Spine execution and increase asset productivity; gross margin improvement and process efficiency initiatives underway 04 Favorable macro tailwinds: aging population, evolving standards of care, AI/machine learning adoption, and enabling technology advancement across ~$16B market growing ~5% annually 05 Disciplined capital allocation: organic reinvestment at ~5% of sales; tuck-in M&A for category leadership; and ongoing cost optimization initiatives to improve profitability and cash generation

For additional information, please contact: Julie Dewey, IRC Chief IR & Communications Officer juliedewey@orthofix.com 209-613-6945 www.Orthofix.com NASDAQ: OFIX

Financial and Non-GAAP Reconciliation Tables Appendix 35

Q3 2026 GAAP to Adj. EBITDA Bridge

Net Sales by Major Product Category by Reporting Segment * Results above for each of Spinal Implants, Biologics, and Enabling Technologies; Global Spine; and pro forma net sales exclude the impact from discontinuation of the M6 product lines. Since pro forma net sales represent a non-GAAP measure, see the reconciliation above of the Company’s pro forma net sales to its reported figures under U.S. GAAP. The Company’s reported figures under U.S. GAAP represent each of the pro forma line items discussed above plus the impact from discontinuation of the M6 product lines.     Three Months Ended September 30,   (Unaudited, U.S. Dollars, in millions)   2026     2025     Change     ConstantCurrencyChange   Therapeutic Solutions   $ 64.0     $ 61.2       4.5 %     4.5 % Spinal Implants, Biologics and Enabling Technologies*     107.4       108.6       (1.1 %)     (1.1 %) Global Spine*     171.4       169.8       0.9 %     0.9 % Global Limb Reconstruction     36.4       33.6       8.5 %     9.4 % Pro forma net sales*     207.8       203.4       2.2 %     2.3 % Impact from discontinuation of M6 product lines     0.1       2.2       (96.8 %)     (96.8 %) Reported net sales   $ 207.9     $ 205.6       1.1 %     1.2 %

Condensed Consolidated Balance Sheets

Condensed Consolidated Statements of Operations     Three Months Ended     Nine Months Ended       September 30,     September 30,   (Unaudited, U.S. Dollars, in thousands, except share and per share data)   2026     2025     2026     2025   Net sales   $ 207,862     $ 205,634     $ 615,503     $ 602,401   Cost of sales     61,316       57,111       179,704       192,726   Gross profit     146,546       148,523       435,799       409,675   Sales, general, and administrative     125,330       148,102       398,271       417,576   Research and development     15,277       14,774       46,541       50,474   Acquisition-related amortization, impairment, and remeasurement     4,394       2,693       12,012       23,547   Operating income (loss)     1,545       (17,046 )     (21,025 )     (81,922 ) Interest expense, net     (5,889 )     (4,681 )     (17,638 )     (13,137 ) Other income (expense), net     (904 )     (535 )     (2,416 )     6,441   Loss before income taxes     (5,248 )     (22,262 )     (41,079 )     (88,618 ) Income tax expense     (826 )     (533 )     (1,701 )     (1,352 ) Net loss   $ (6,074 )   $ (22,795 )   $ (42,780 )   $ (89,970 )                           Net loss per common share:                         Basic   $ (0.15 )   $ (0.57 )   $ (1.05 )   $ (2.28 ) Diluted     (0.15 )     (0.57 )     (1.05 )     (2.28 ) Weighted average number of common shares (in millions):                         Basic     41.2       39.8       40.8       39.5   Diluted     41.2       39.8       40.8       39.5  

Adjusted Gross Profit and Adjusted Gross Margin     Three Months Ended     Nine Months Ended       September 30,     September 30,   (Unaudited, U.S. Dollars, in thousands)   2026     2025     2026     2025   Gross profit   $ 146,546     $ 148,523     $ 435,799     $ 409,675   Share-based compensation and long-term incentive plan expense     236       368       1,029       1,297   SeaSpine merger-related costs     116       (438 )     (187 )     4,503   Gross profit and impairments related to M6 product lines     (106 )     (1,989 )     (621 )     9,176   Strategic investments     —       1       —       57   Amortization/depreciation of acquired long-lived assets     109       276       394       940   Employee transition costs     13       —       606       —   Adjusted gross profit   $ 146,914     $ 146,741     $ 437,020     $ 425,648   Adjusted gross margin as a percentage of reported net sales     70.7 %     71.4 %     71.0 %     70.7 % Adjusted gross margin as a percentage of pro forma net sales     70.7 %     72.1 %     71.0 %     71.7 %

Adjusted EBITDA     Three Months Ended     Nine Months Ended       September 30,     September 30,   (Unaudited, U.S. Dollars, in thousands)   2026     2025     2026     2025   Net loss   $ (6,074 )   $ (22,795 )   $ (42,780 )   $ (89,970 ) Income tax expense     826       533       1,701       1,352   Interest expense, net     5,889       4,681       17,638       13,137   Depreciation and amortization     13,172       12,941       39,938       64,243   Share-based compensation and long-term incentive plan expense     6,969       7,181       21,552       21,474   Foreign exchange impact     744       571       2,390       (3,224 ) SeaSpine merger-related costs     412       126       915       6,142   Operating losses and impairments related to M6 product lines     464       6       1,802       15,485   Strategic investments     509       227       2,093       4,094   Acquisition-related fair value adjustments     1,396       (427 )     3,014       (1,800 ) Interest and loss on investments     —       (10 )     (16 )     (41 ) Litigation and investigation costs     301       21,548       5,402       28,619   Employee retention credit     —       —       (951 )     (2,854 ) Employee transition costs     1,428       —       3,170       —   Adjusted EBITDA   $ 26,036     $ 24,582     $ 55,868     $ 56,657   Adjusted EBITDA as a percentage of reported net sales     12.5 %     12.0 %     9.1 %     9.4 % Adjusted EBITDA as a percentage of pro forma net sales     12.5 %     12.1 %     9.1 %     9.5 %

Adjusted Net Income     Three Months Ended     Nine Months Ended       September 30,     September 30,   (Unaudited, U.S. Dollars, in thousands)   2026     2025     2026     2025   Net loss   $ (6,074 )   $ (22,795 )   $ (42,780 )   $ (89,970 ) Share-based compensation and long-term incentive plan expense     6,969       7,181       21,552       21,474   Foreign exchange impact     744       571       2,390       (3,224 ) SeaSpine merger-related costs     696       151       1,287       9,411   Operating (income) losses and impairments related to M6 product lines     466       (438 )     1,940       35,945   Strategic investments     511       235       2,101       4,142   Acquisition-related fair value adjustments     1,396       (427 )     3,014       (1,800 ) Amortization/depreciation of acquired long-lived assets     3,107       3,396       9,392       12,251   Litigation and investigation costs     301       21,548       5,402       28,619   Interest and loss on investments     —       (10 )     (16 )     (41 ) Employee retention credit     —       —       (1,135 )     (3,616 ) Employee transition costs     1,428       —       3,170       —   Long-term income tax rate adjustment     (2,078 )     (2,252 )     (544 )     (2,720 ) Adjusted net income   $ 7,466     $ 7,160     $ 5,773     $ 10,471  

Cash Flow and Free Cash Flow     Nine Months Ended September 30,   (Unaudited, U.S. Dollars, in thousands)   2026     2025   Net cash provided by (used in) operating activities   $ (23,471 )   $ 5,650   Capital expenditures     (37,810 )     (23,749 ) Free cash flow   $ (61,281 )   $ (18,099 )     Nine Months Ended September 30,   (Unaudited, U.S. Dollars, in thousands)   2026     2025   Net cash provided by (used in) operating activities   $ (23,471 )   $ 5,650   Net cash used in investing activities     (37,664 )     (23,727 ) Net cash provided by (used in) financing activities     63,228       (3,163 ) Effect of exchange rate changes on cash     (288 )     1,448   Net change in cash, cash equivalents, and restricted cash   $ 1,805     $ (19,792 )

Adjusted Sales, General and Administrative Expense     Three Months Ended     Nine Months Ended       September 30,     September 30,   (Unaudited, U.S. Dollars, in thousands)   2026     2025     2026     2025   Sales, general, and administrative   $ 125,330     $ 148,102     $ 398,271     $ 417,576   Reconciling items impacting sales, general, and administrative:                         SeaSpine merger-related costs     (509 )     (538 )     (1,265 )     (4,680 ) Operating losses and impairments related to M6 product lines     (211 )     (954 )     (1,668 )     (8,314 ) Strategic investments     (510 )     (199 )     (2,091 )     (1,940 ) Amortization/depreciation of acquired long-lived assets     —       —       —       (60 ) Litigation and investigation costs     (301 )     (21,548 )     (5,402 )     (28,169 ) Employee transition costs     (1,235 )     —       (2,383 )     —   Sales, general, and administrative expense, as adjusted   $ 122,564     $ 124,863     $ 385,462     $ 374,413   As a percentage of reported net sales     59.0 %     60.7 %     62.6 %     62.2 % As a percentage of pro forma net sales     59.0 %     61.4 %     62.7 %     63.1 %

Adjusted Research and Development Expense     Three Months Ended     Nine Months Ended       September 30,     September 30,   (Unaudited, U.S. Dollars, in thousands)   2026     2025     2026     2025   Research and development expense, as reported   $ 15,277     $ 14,774     $ 46,541     $ 50,474   Reconciling items impacting research and development:                         SeaSpine merger-related costs     (70 )     (50 )     (209 )     (228 ) Operating losses and impairments related to M6 product lines     (390 )     (582 )     (1,049 )     (4,305 ) Strategic investments     (2 )     (34 )     (10 )     (2,144 ) Litigation and investigation costs     —       —       —       (450 ) Employee transition costs     (182 )     —       (182 )     —   Research and development expense, as adjusted   $ 14,633     $ 14,108     $ 45,091     $ 43,347   As a percentage of reported net sales     7.0 %     6.9 %     7.3 %     7.2 % As a percentage of pro forma net sales     7.0 %     6.9 %     7.3 %     7.3 %

Adjusted Non-Operating (Income) Expense     Three Months Ended     Nine Months Ended       September 30,     September 30,   (Unaudited, U.S. Dollars, in thousands)   2026     2025     2026     2025   Non-operating (income) expense   $ 6,793     $ 5,216     $ 20,054     $ 6,696   Reconciling items impacting non-operating expense:                         Non-operating (income) losses and impairments related to M6 product lines     30       (16 )     156       (54 ) Foreign exchange impact     (744 )     (571 )     (2,390 )     3,224   Interest and loss on investments     —       10       16       41   Employee retention credit     —       —       1,135       3,616   Non-operating expense, as adjusted   $ 6,079     $ 4,639     $ 18,971     $ 13,523   As a percentage of reported net sales     2.9 %     2.3 %     3.1 %     2.2 % As a percentage of pro forma net sales     2.9 %     2.3 %     3.1 %     2.3 %

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