Bank of America Merrill Lynch

Healthcare Conference

Curt R. Hartman
President & Chief Executive Officer

Todd Garner
Executive Vice President &
Chief Financial Officer

May 15, 2018

Forward-Looking Information
This presentation contains forward-looking statements based on certain assumptions and
contingencies that involve risks and uncertainties. The forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995
and relate to the Company's performance on a going-forward basis. The forward-looking
statements in this presentation involve risks and uncertainties which could cause actual results,
performance or trends, to differ materially from those expressed in the forward-looking
statements herein or in previous disclosures. In addition to general industry and economic
conditions, factors that could cause actual results to differ materially from those discussed in
the forward-looking statements in this presentation include, but are not limited to the risks
relating to forward-looking statements discussed in the Company's Annual Report on Form 10-K
for the fiscal year ended December 31, 2017.

Management has disclosed adjusted financial measurements in this presentation that present
financial information that is not in accordance with generally accepted accounting principles
(GAAP). These adjusted financial measures are helpful to management in comparing the
recurring aspects of the business performance without the effect of unusual, non-recurring or
special revenues or costs. These measurements are not a substitute for GAAP measurements.
Investors should consider adjusted measures in addition to, and not as a substitute for, or
superior to, financial performance measures prepared in accordance with GAAP.

2
CONMED Today – By the Numbers
$796M Orthopedics
FY2017 Revenue n Surgical devices including capital,
disposables, and implants used in the
repair of soft tissue and joint injuries
3,100
General Surgery Employees
Orthopedics General Surgery n Low Impact™ Laparoscopy, enabled globally
54% 46% by the AirSeal® System
n GI therapeutic and diagnostic products
n ECG, MFE, and other patient care Founded
devices

1970
All Other
17% ~2/3 80% Headquarters:
Utica, NY
Americas of Revenue Recurring,
Ex-US 48%
11% Int’l Rev.
US
52%
MIS-related single-use
revenue
Europe
20%

3
Orthopedics Overview
Category Description Market Size and Competitors
$4.4 to $4.6 Billion

$429M Sports
Medicine
Devices for repair of soft tissue
injuries in joints, particularly the
knee and shoulder
§ Arthrex
§ DePuy Mitek (J&J)
§ Smith & Nephew
§ Stryker
FY2017 Revenue § Zimmer Biomet

Exclusive commercial rights to MTF $375 to $425 Million

Allograft § Allosource
allograft tissue for use in sports § LifeNet
Tissue medicine surgery § RTI

$1.4 to $1.6 Billion

US § Stryker
Surgical drills and saws with
39% Powered § DePuy Synthes (J&J)
International related single-use cutting § Medtronic (Midas Rex / Xomed)
61% Instruments accessories § Zimmer Biomet
§ MicroAire

$1.8 to $2.0 Billion

High-definition surgical § Stryker
Surgical visualization systems to enable § Arthrex
§ Karl Storz
Visualization minimally invasive arthroscopic § Olympus
surgery § Richard Wolf

74%
§ Smith & Nephew

Recurring, single- Selling Model

use revenue § US - Hybrid Sales Model
§ Intl - Direct in 16 Countries 4
General Surgery Overview
Category Description Market Size and Competitors
$1.4 to $1.6 Billion
A platform of devices and

$367M
§ Ethicon (J&J) § Medtronic
accessories to create and enter
Access the surgical working space in
§ Applied Medical § Olympus
§ Stryker
minimally invasive procedures
FY2017 Revenue § Karl Storz
RF energy to affect tissue by $2.6 to $2.8 Billion
cutting, sealing, or causing § Medtronic § Olympus
Energy hemostasis in open or § Ethicon (J&J)
minimally invasive procedures § ERBE
International $1.5 to $1.7 Billion
Instruments and accessories § CR Bard
34% § Karl Storz
for minimally invasive § Cooper Surgical
US
Instruments laparoscopic, open, and robotic
§ Aesculap
66% § Stryker
approaches
§ Ethicon (J&J)
$3.0 to $3.2 Billion
Therapeutic and diagnostic
Endoscopic § Boston Scientific § Olympus
endoscopic products used by § Merit Endotek
Technologies § Cook Medical § STERIS
Gastroenterologists
§ Cantel
Single-use devices for $0.8 to $1.0 Billion
Critical Care monitoring cardiac activity and § 3M Company
other patient care devices § Cardinal

87% Selling Model

Recurring, single- § US - Direct Sales Model
use revenue
§ Intl - Direct in 7 Countries 5
Q1 2018 Results & FY2018 Guidance
Q1 2018 Results
§ International growth across both
§ Reported Revenue: $202.1M reporting categories for eight
consecutive quarters
§ 8.3% reported growth, 6.8% growth in adjusted1 constant
currency § Domestic General Surgery growth
for nine consecutive quarters
§ Adjusted EPS2: $0.53, representing 39.5% growth over Q1 2017
§ Domestic Orthopedics growth for
two consecutive quarters

FY2018 Guidance (as of April 25, 2018)

§ Reported revenue growth of 5.5% to 7.0%, constant currency revenue growth of 4.5% to 5.5%
§ Adjusted EPS1 in the range of $2.15 and $2.20 (14% to 16% growth)

1Adjusted net sales growth is measured in constant currency and is adjusted for administrative fees that the Company began
recording as a reduction of revenue under ASU 2014-09, Revenue from Contracts with Customers, effective January 1, 2018.
2Excludes the costs of special items including acquisitions, restructuring costs, legal matters, gains on the sale of assets, debt
refinancing, amortization of intangible assets, net of tax, as well as the impact of the 2017 Tax Cut and Jobs Act.
6
International Update
Market Growth Rate: 2 - 4% Sales Growth (constant currency)
üStrong Leadership Team 8.0%

üDriving ‘One CONMED’ approach 6.0%

4.0%
üContinued focus in key direct
markets to increase existing product 2.0%

registration investments
0.0%

üBusiness consistency supported by -2.0%

enhanced New Product launch

-4.0%
cadence Q116* Q216* Q316* Q416* Q117 Q217 Q317 Q417 Q118

*Pro forma growth inclusive of 2015 AirSeal® revenue

üSubstantial opportunity remains as
channels, categories and country
approach is further advanced

International Sales represent 48% of 2017 consolidated sales. International business split: Direct 70%, Export 30%

7
Domestic General Surgery Update
Market Growth Rate: 2 - 4% Sales Growth*
13.0%
üThree unique business categories with
strong leadership teams
11.0%

üBroad-based offense around New

9.0%
Products and expanded sales forces
7.0%
üEndoscopic Technologies and
Advanced Surgical both exceeding
market growth rates 5.0%

üAirSeal® remains a truly differentiated 3.0%

platform technology
1.0%
Q116* Q216* Q316* Q416* Q117 Q217 Q317 Q417 Q118

*Pro forma growth inclusive of 2015 AirSeal ® revenue

Domestic General Surgery represents 31% of 2017 consolidated sales

* Domestic Sales Growth is adjusted for the adoption of the new revenue recognition accounting standard, ASU 2014-09, effective January 1, 2018
8
Domestic Orthopedics Update
Market Growth Rate: 4 - 6% Sales Growth*
üOur “biggest” turnaround effort –
lack of innovation greatly slowed
external results 5.0%

üContinuity in new leadership and

strategy starting to pay dividends -2.0%

üNew Products driven by revamped

Marketing and R&D teams critical to
-9.0%
success. Accelerating cadence
encouraging enthusiasm in outlook.

ü2017 a solid year of foundational -16.0%

Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417 Q118
progress, with positive momentum
into 2018

Domestic Orthopedics represents 21% of 2017 consolidated sales

* Domestic Sales Growth is adjusted for the adoption of the new revenue recognition accounting standard, ASU 2014-09, effective January 1, 2018
9
The CONMED Journey…People
Focus Outcomes

2014 √ Eight of ten Directors appointed post-2013

√ Leadership team reconstituted with new
commercial leaders in every business
√ Every commercial function enhanced with
2015
Sales, Marketing and R&D leadership
restructured across all businesses; teams
Phase 1: People substantially rebuilt
√ Restored Business Development function
to drive acquisition strategy
√ International Direct and Export
2016
management structure revised; leadership
transitions across key geographies

Phase 2: Products
2017

2018
Phase 3: Profitability
10
Leadership Team
COMMERCIAL FUNCTIONAL
Years at Years in Years at Years in
Executive Title CONMED Industry Executive Title CONMED Industry
Curt President & 3 27 Todd EVP & CFO New 15
Hartman CEO Garner

Pat President, 3 27 Heather EVP, Human 16 16

Beyer International Cohen Resources

Bill VP/GM, 3 15 Dan EVP & 19 19

Peters Advanced Jonas General
Surgical Counsel
Jed VP/GM, 5 32 Wilfredo EVP, RA/QA 2 25
Kennedy Endoscopic Ruiz-Caban and
Technologies Operations
Nate VP/GM, 2 17
Folkert Orthopedics

Peter EVP, Corporate 3 22

Shagory Development
and Strategy
11
The CONMED Journey…Products
Focus Outcomes

Phase 1: People
2014

√ Marketing and R&D teams own product

roadmap strategies for each business and
2015 global alignment
√ Continue to aggressively pursue business
development opportunities to secure
innovative technologies and fill product
2016
Phase 2: Products portfolio gaps
√ Aligned manufacturing, advanced
engineering, RA, and QA to support new
product launch agenda and global
registrations
2017
√ Cadence is telling: 42 launches 2015-2017

2018 Phase 3: Profitability

12
Improving R&D Contribution
New Product Revenue as % of Total
25.0%

20.0%
§ Innovation becoming a
Company strength
15.0%

§ New product revenue

10.0% measured and evolving as
a meaningful contributor
5.0%
Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417 Q118
§ Market opportunity,
Product Introduction Cadence margin profile, and
25
innovation all meaningful
20 input to pipeline decisions
15
§ Exceptional connection to
10 global market Key Opinion
Leaders
5

0
2015 2016 2017

Organic Inorganic
13
The CONMED Journey…Profitability
Focus Outcomes
2014

2015
Phase 1: People
2016

2017 Phase 2: Products

√ Focus initiated in early 2017

√ Emphasis on:
§ Manufacturing cost reduction
2018
Phase 3: Profitability § Design for innovation and profitability
§ Rationalization of existing portfolio

√ Revenue growth on infrastructure remains

our biggest lever

14
Financial Progress – 2014 to 2017
Constant Currency Sales Growth
6.0%
5.0%
4.0% § Constant currency sales
3.0% growth trend is favorable
2.0%
1.0%
§ EBITDA Margin expansion
0.0%
-1.0%
has been consistent exclusive
-2.0% of currency impact
-3.0%
2014 2015 2016 2017 2018
Guidance

18.0%
EBITDA Margin (Constant Currency, adjusted)
17.0%

16.0%
§ 2016 Sales Growth includes 2015 AirSeal on a pro
15.0%
forma basis
14.0% § EBITDA Margin for all periods calculated at 2017 FX
rates
13.0% § Constant Currency Sales Growth and EBITDA (Constant
Currency, adjusted) are non-GAAP financial measures.
12.0%
Please see the disclosures on slide 2 regarding non-
11.0% GAAP measures
10.0% 15
2014 2015 2016 2017
Margin Expansion
EBITDA Margin Strategy
Volume
ü Manufacturing structure is leverageable
ü Variable selling and marketing costs are less
Costs than 50% of total SG&A
ü Administrative structure is in place

New Products
EBITDA
ü New product pipeline is accelerating
Margin ü New product gross margins exceed the
Sales
Company average

Production Efficiencies
ü Continuing the Company’s history of
continuous manufacturing cost reductions
ü Multiple levers to pull for future annual cost
reductions

Improving Profitability Driven by Consistent Execution 16

Closing Thoughts
Sales Growth New Product Contribution* EBITDA Margin
Constant Currency Constant Currency

25.0% 18.0%
17.0%
20.0% 16.0%
15.0%
15.0% 14.0%
13.0%
10.0% 12.0%
11.0%
5.0% 10.0%
Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417 Q118 2014 2015 2016 2017
*Products introduced since 2016

P People are in place and delivering meaningful contributions

P New Products are contributing and cadence is accelerating.
Innovation is a critical part of our growth plan
P Improving Profitability is the outcome of consistent execution
driven by People and Products
17
Thank You

18