Amplitude Surgical

Earnings Release • Feb 17, 2022

Amplitude Surgical – H1 2021-22: Sales of €48.1m, +3.9% at constant exchange rates

• Consolidated sales of €48.1 million, +3.9% at constant exchange rates
• Sales from knee and hip activity stable, -0.3% at constant exchange rates
• Further growth in Novastep's activity, +33.1% at constant exchange rates

Valence, France, February 17, 2022, 8 am CET - Amplitude Surgical (ISIN: FR0012789667, Ticker: AMPLI, eligible for PEA-PME plans), a leading French player on the surgical technology market for lower-limb orthopedics, announces its sales for the first half of its 2021-22 financial year.

Olivier Jallabert, Amplitude Surgical's CEO, commented: "During the first half of our 2021-22 financial year, Amplitude Surgical recorded a 3.9% increase in sales at constant exchange rates. Knee and hip activity wasstable compared with the previous year and continues to be negatively affected by the public health situation associated with the COVID-19 pandemic, with further health restrictions and cancelled operations as well as the reduced availability of operating rooms and medical staff. Novastep, meanwhile, has continued its development and now accounts for approximately 16.4% of the Group's total sales, with growth of almost 33% over the period".

H1 2021-22 sales In thousands of euros - IFRS	31/12/2021	31/12/2020	Change at current exchange rates	Change at constant exchange rates
Knee and hip activity	40,187	40,072	0.3%	-0.3%
Feet and ankles (Novastep)	7,912	5,838	35.5%	33.1%
Total	48,099	45,910	4.8%	3.9%
Q2 2021-22 sales In thousands of euros - IFRS	31/12/2021	31/12/2020	Change at current exchange rates	Change at constant exchange rates
Knee and hip activity	23,150	20,892	10.8%	10.3%
Feet and ankles (Novastep)	4,760	3,435	38.6%	34.7%

Sales by activity

In the first half of its 2021-22 financial year (from July to December 2021), Amplitude generated sales of €48.1 million, up 4.8% in actual terms and 3.9% at constant exchange rates.

• Knee and hip activity was stable, with sales up 0.3% in actual terms and down 0.3% at constant exchange rates. Following a first quarter that was down on the previous year, notably impacted by lower operating room availability in France, the second quarter saw an upturn with growth of 10.3%, with fewer restrictions associated with the public health situation than the previous year. Nevertheless, the health situation and reduced availability of operating rooms and medical personnel are continuing to have a considerable negative impact on activity;

• Novastep, innovative solutions for foot and ankle surgery, generated strong growth over the half with sales totaling €7.9 million (+33.1% at constant exchange rates), driven by the United States. Novastep's activity now accounts for 16.4% of total Group sales.

Sales by geographical region

H1 2021-22 sales	31/12/2021	31/12/2020	Change at current exchange rates	Change at constant exchange rates
In thousands of euros - IFRS
France	30,502	29,615	3.0%	3.0%
International	17,597	16,295	8.0%	5.6%
o/w subsidiaries	13,825	12,457	11.0%	7.9%
o/w distributors	3,771	3,839	-1.7%	-1.7%
Total	48,099	45,910	4.8%	3.9%

Q2 2021-22 sales	31/12/2021	31/12/2020	Change at current exchange rates	Change at constant
In thousands of euros - IFRS				exchange rates
France	18,241	15,468	17.9%	17.9%
International	9,669	8,859	9.1%	6.4%
o/w subsidiaries	7,550	6,938	8.8%	5.3%
o/w distributors	2,119	1,921	10.3%	10.3%
Total	27,910	24,327	14.7%	13.7%

By geographical region, sales evolved as follows:

• On the French market, all in all Amplitude Surgical's activities recorded sales growth of 3.0% over the last half to €30.5 million, representing 63.4% of total Group sales. Activity is continuing to be negatively affected by the public health situation associated with COVID-19, the posted growth being primarily due to the pandemic's different level of impact between the two years;
• The Group's international activity generated sales of €17.6 million, up 8.0% in actual terms and 5.6% at constant exchange rates thanks to international subsidiaries. The Group's subsidiaries recorded growth of 7.9% at constant exchange rates to €13.8 million thanks to the considerable increase in Novastep's foot and ankle activity in the United States. Activity with the Group's distributors fell by 1.7%, with sales totaling €3.8 million;
• Amplitude Surgical's direct business (French market and international subsidiaries), which accounted for almost 92% of the Group's total sales, generated growth of 4.5% at constant exchange rates.

Next financial press release

H1 2021-22 results, on Wednesday March 23, 2022, after market.

About Amplitude Surgical

Founded in 1997 in Valence, France, Amplitude Surgical is a leading French player on the global surgical technology market for lower-limb orthopedics. Amplitude Surgical develops and markets high-end products for orthopedic surgery covering the main disorders affecting the hip, knee and extremities, and notably foot and ankle surgery. Amplitude Surgical develops, in close collaboration with surgeons, numerous high value-added innovations in order to best meet the needs of patients, surgeons and healthcare facilities. A leading player in France, Amplitude Surgical is developing abroad through its subsidiaries and a network of exclusive distributors and agents distributing its products in more than 30 countries. Amplitude Surgical operates on the lower-limb market through the intermediary of its Novastep subsidiaries in France and the United States. At June 30, 2021, Amplitude Surgical had a workforce of 443 employees and recorded sales of nearly 95.5 million euros.

Contacts:

Amplitude Surgical Dimitri Borchtch CFO finances@amplitude-surgical.com +33 (0)4 75 41 87 41

NewCap Investor Relations Mathilde Bohin/Thomas Grojean amplitude@newcap.eu +33 (0)1 44 71 94 94

NewCap Media Relations Nicolas Merigeau amplitude@newcap.eu +33 (0)1 44 71 94 98