Amplitude Surgical

Earnings Release • Nov 21, 2019

Amplitude Surgical – First quarter 2019-20: Sales growth of 6.0% at constant exchange rates

• Consolidated sales of €20.8 million, +6.0% at constant exchange rates
• 3.9% growth on the French market and almost 10% growth for international business
• Very strong growth in activity in the United States, +86.5% at constant exchange rates
• Strong growth in Novastep's activity: +39.7% at constant exchange rates

Valence, November 21, 2019 at 6:00 pm CET - Amplitude Surgical (ISIN: FR0012789667, Ticker: AMPLI, eligible for PEA-PME plans) ("Amplitude" or the "Group"), a leading French player on the global surgical technology market for lower-limb orthopedics, announces its sales for the first quarter of its 2019-20 financial year.

Olivier Jallabert, Chairman and CEO of Amplitude Surgical, said: "In the first quarter of our 2019-20 financial year, Amplitude Surgical posted growth of 6.0% at constant exchange rates, driven by an excellent international performance, in particular by subsidiaries. Sales generated in the United States were up 86% compared to the same quarter last year. Novastep, meanwhile, is continuing to ramp-up and now accounts for approximately 10% of total Group revenue, with over 40% growth over the period."

Q1 2019-20 sales	30/09/2019	30/09/2018	Change	Change
In thousands of euros - IFRS			at current exchange rates	at constant exchange rates
France	12,091	11,642	+3.9%	+3.9%
International	8,745	7,895	+10.8%	+9.2%
o/w subsidiaries	6,815	5,877	+15.9%	+13.9%
o/w distributors	1,930	2,017	-4.3%	-4.3%
Total	20,837	19,537	6.7%	6.0%

In the first quarter of its 2019-20 financial year (July-September), Amplitude Surgical reported sales of €20.8 million, up 6.7% and 6.0% at constant exchange rates.

• On the French market, Amplitude Surgical recorded a 3.9% increase in activity over the quarter to €12.1 million, i.e. 58% of total sales;
• The Group's international activity generated sales of €8.7 million, up 10.8% and 9.2% at constant exchange rates, driven by the performance of its subsidiaries (+13.9% at constant exchange rates), notably in South Africa and Brazil, offsetting a temporary downturn in distributors' activity;
• Amplitude Surgical's direct business (French market and international subsidiaries), which accounted for almost 91% of total Group sales, recorded growth of 7.2% at constant exchange rates;

• Novastep, which markets innovative solutions for foot and ankle surgery, recorded buoyant growth of 39.7% at constant exchange rates, with quarterly sales of €2.0 million, primarily driven by the United States (+83.9% at constant exchange rates). The proportion of sales generated abroad has increased to over 65%, and Novastep now accounts for 9.4% of the Group's total sales.

Key first-quarter event

Registration of the Integral Revision prosthesis in Brazil

ANVISA (Agencia Nacional de Vigilancia Sanitaria), the Brazilian regulatory authority for the registration of medical devices, approved on September 9, 2019 the marketing authorization for the Integral Revision hip prosthesis; this new registration allows Amplitude Latam to expand the product offering in Brazil, in association with the Saturn II double mobility acetabulum¹ , registered last May.

Next financial press release

H1 2019-20 sales: February 20, 2020, 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, 2019, Amplitude Surgical had a workforce of 436 employees and recorded sales of c.103 million euros.

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

NewCap Investor Relations Théodora Xu amplitude@newcap.eu +33 (0)1 44 71 20 42

NewCap Media Relations Nicolas Merigeau amplitude@newcap.eu +33 (0)1 44 71 98 55

¹ Cotyloid cavity.