1Q23 Earnings Conference

Call

April 27, 2023

ITGR: 1Q23 Earnings Conference Call / April 27, 2023 / Page 1

 Integer Holdings Corporation
First Quarter 2023 Earnings Conference Call
9 a.m. Eastern Time, April 27, 2023

Speakers: • A webcast of today’s call can be accessed

in the “Investor Relations” section of the
Joe Dziedzic Company’s website:
President and Chief Executive investor.integer.net
Officer
• To participate on the call, please dial:
• (888) 330-3567 (U.S.)
Jason Garland • (646) 960-0842 (International)
Executive Vice President, Chief • The conference ID is 9252310
Financial Officer
• An online archive of the broadcast will be
available at the website three hours after
Andrew Senn the live call, and will be available through
Senior Vice President, Strategy, Thursday, May 4, 2023, by dialing
Business Development & • (800) 770-2030 (U.S.)
Investor Relations • (647) 362-9199 (International)
• The conference ID is 9252310

ITGR: 1Q23 Earnings Conference Call / April 27, 2023 / Page 2

 Presentation of Financial Information &
Forward-Looking Statements
Important Information

This presentation contains summarized information concerning Integer Holdings Corporation (the “Company”) and its business,
operations, financial performance and trends. The historical financial and operating data contained herein reflect the consolidated
results of the Company for the periods indicated. No representation is made that the information in this presentation is complete. For
additional financial and business-related information, as well as information regarding business and product line trends, see the
Company’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the U.S. Securities and
Exchange Commission (the “SEC”), as well other reports filed with the SEC from time-to-time. Such reports are or will be available in
the investor relations section of our corporate website (investor.integer.net) and the SEC’s website (www.sec.gov).

Non-GAAP Financial Measures. This presentation includes financial information prepared in accordance with accounting principles
generally accepted in the United States (“GAAP”) as well as other financial measures referred to as non-GAAP. These non-GAAP
financial measures are not calculated in accordance with GAAP and are not meant to be considered in isolation from or as a
substitute for the information prepared in accordance with GAAP. For reconciliations of these non-GAAP financial measures to the
most comparable GAAP measures, please refer to the appendix to this presentation, as well as the earnings press release
associated with this period and the trending schedules, both of which can be found in the investor relations section of our corporate
website (investor.integer.net).

Forward Looking Statements. Some of the statements contained in this presentation whether written or oral may be “forward-
looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended, including statements relating to recovery from COVID-19 global pandemic; future sales,
expenses, and profitability; future development and expected growth of our business and industry; our ability to execute our business
model and our business strategy, including completion and integration of current or future acquisition targets; having available
sufficient cash and borrowing capacity to meet working capital, debt service and capital expenditure requirements for the next twelve
months; projected capital spending; and other events, conditions or developments that will or may occur in the future. You can
identify forward-looking statements by terminology such as “may,” “will,” “should,” “could,” “expects,” “intends,” “plans,” “anticipates,”
“believes,” “estimates,” “predicts,” “potential,” “projects” or “continue” or variations or the negative of these terms or other comparable
terminology. These statements are based on the Company’s current expectations and speak only as of date of this presentation. The
Company’s actual results could differ materially from those stated or implied by such forward-looking statements. Except as required
by law, the Company assumes no obligation to update forward-looking information, including information in this presentation, to
reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial conditions or
prospects or otherwise.

ITGR: 1Q23 Earnings Conference Call / April 27, 2023 / Page 3

 Agenda

• Opening Remarks

• Financial Results

• 2023 Outlook

• Wrap-up

• Q&A

ITGR: 1Q23 Earnings Conference Call / April 27, 2023 / Page 4

 Opening Remarks

ITGR: 1Q23 Earnings Conference Call / April 27, 2023 / Page 5

 Summary

1Q23 sales increased Strong start to the year with 1Q23 financial results
22% versus 1Q22, • 1Q23 sales up 22% vs. 1Q22, up 21% organic
while adjusted • Double digit year-over-year growth across all product lines, driven by strong
operating income rate customer demand and continued supplier delivery recovery
expanded ~70 bps • Adjusted operating income up 28% vs. 1Q22
• Labor environment stabilizing but supply chain environment remains challenging

Reiterate full year

outlook, with Confirming 2023 outlook: above-market growth, expanding margins
sequential adjusted • Sales $1,470 to $1,500 million, up 7% to 9% reported and organic
operating income • Adjusted operating income $211 to $222 million, up 10% to 16%
improvement • Adjusted EPS $4.00 to $4.30, up 3% to 11%
throughout the year • Free cash flow $70 to $90 million, up 66% to 113%

Strategy enabling
sustained above- Executing strategy to accelerate top-line growth
market growth • Demonstrating sustained sales growth 200bps above the market
‒ Strong product development pipeline in high-growth markets
• Investing in critical capacity expansions to support above-market growth

ITGR: 1Q23 Earnings Conference Call / April 27, 2023 / Page 6

 Financial Results

ITGR: 1Q23 Earnings Conference Call / April 27, 2023 / Page 7

 (1)
1Q23 Financial Results
($ in millions, except per share amounts)

Sales Adj. EBITDA Adj. Operating Income Adj. Net Income

% Change 22% 22% 28% 11%

$379

$66
$311
$54 $50

$39

$29
$26

1Q22 1Q23 1Q22 1Q23 1Q22 1Q23 1Q22 1Q23

Adjusted EPS
Organic Sales Change: 21%
$0.78 $0.87

(1) Organic Sales Change, Adjusted EBITDA, Adjusted Operating Income, Adjusted Net Income, and Adjusted EPS are non-GAAP financial measures; refer to “Non-GAAP Financial Measures” in the Appendix

ITGR: 1Q23 Earnings Conference Call / April 27, 2023 / Page 8

 Product Line Quarterly Sales Performance Trends
($ in millions)

Cardio & Vascular CRM & Neuromodulation 1Q23 Highlights

✓ Double-digit year-over-year
growth across all product lines
in 1Q23 … Strong customer
demand and continued supplier
delivery recovery

✓ Strong organic growth from

Y-o-Y %
Change
Y-o-Y %
Change C&V new product ramps in
electrophysiology and demand
for guidewire products

Advanced Surgical, Orthopedics & ✓ Strong growth from emerging

Portable Medical Electrochem
CRM&N customers with PMA
products

✓ Portable Medical continues to

benefit from demand & price
associated with the multi-year
product exit

Y-o-Y %
Change
Y-o-Y %
Change
✓ Strong growth across all
Electrochem market segments

ITGR: 1Q23 Earnings Conference Call / April 27, 2023 / Page 9

 (1)
1Q23 Adjusted Net Income
($ in millions, except per share amounts)

$9
$(1)
$0 $29
$26 $(6)

1Q22 Operational FX Interest Tax Rate 1Q23

Drivers

Adj EPS $0.78 $0.27 $(0.02) $(0.16) $0.00 $0.87

(1) Adjusted Net Income and Adjusted EPS are non-GAAP financial measures; refer to “Non-GAAP Financial Measures” in the Appendix

ITGR: 1Q23 Earnings Conference Call / April 27, 2023 / Page 10

 Cash Flow & Leverage Ratio(1)
($ in millions)

Cash Flow From Ops Free Cash Flow Highlights

✓ 1Q23 cash flow from ops

consistent with typical
seasonality from annual bonus
and rebate payments

✓ 1Q23 cash flow from ops $12

million below 1Q22, driven by:
+ $12 more AEBITDA
− $5 CARES payment
− $9 Interest/Tax/Other WC
− $10 Collections timing
Net Total Debt Leverage ✓ AR headwind from collections
Change vs timing … e.g. collected $9
Prior Quarter:
$(7) $127 $(13) $(18) $71
million more in first week of
April than last week of March

$129 ✓ $25 million of 1Q23 capex in

Aran
$220
line with rate of full year spend
$809
Oscor of $100 to $120
$598
✓ Net Total Debt and Leverage
increase from convertible debt
related fees, as expected

(1) Free Cash Flow, Net Total Debt and Leverage are non-
GAAP financial measures; refer to “Non-GAAP Financial
Measures” in the Appendix.
ITGR: 1Q23 Earnings Conference Call / April 27, 2023 / Page 11
 2023 Outlook

ITGR: 1Q23 Earnings Conference Call / April 27, 2023 / Page 12

 (1)
2023 Full Year Outlook
($ in millions, except per share amounts)

Sales Adj. EBITDA Adj. Operating Income Adj. Net Income

% Change 7% - 9% 11% - 16% 10% - 16% 4% - 11%

$1,470 - $1,500
$285 - $296
$1,376 $256
$211 - $222
$192

$130 $134 - $144

2022
2022 2023
2023 2022
2022 2023
2023 2022
2022 2023
2023 2022
2022 2023
2023
utlook
Outlook utlook
Outlook utlook
Outlook utlook
Outlook
Adjusted EPS
Organic Sales Change: 7% - 9% $3.88 $4.00 - $4.30

(1) Organic Sales Change, Adjusted EBITDA, Adjusted Operating Income, Adjusted Net Income, and Adjusted EPS are non-GAAP financial measures; refer to “Non-GAAP Financial Measures” in the Appendix

ITGR: 1Q23 Earnings Conference Call / April 27, 2023 / Page 13

 2023 Financial Outlook
($ in millions)

+70 bps Full year

14.6%
Adj Operating 13.9% • 7% to 9% year-over-year reported and
Income organic growth
% of sales(1) +7% to 9% • +70bps AOI as a % of sales improvement at
mid-point of 2023 guidance

$1,470 - $1,500
Quarterly profile
$1,376 • 1Q23 sales of $379 million, is comprised of
an approximate $365 million run-rate plus
an approximate $15 million recovery of
2H22 supply chain delays
Sales • Expect 2Q23 sales similar to 1Q23 run rate
assuming a continued challenging supply
chain environment
• Expect adjusted operating income as a % of
sales to expand throughout 2023 as we
2022 2023 improve manufacturing efficiencies and
Outlook
achieve higher product development sales

Delivering strong above-market sales growth at 7% to 9% year-over-year

(1) Adjusted operating income % of sales is a non-GAAP financial measures; refer to “Non-GAAP Financial Measures” in the Appendix
ITGR: 1Q23 Earnings Conference Call / April 27, 2023 / Page 14
 (1)
2023 Cash Flow Outlook
($ in millions)

Cash Flow From Ops Free Cash Flow Net Total Debt Leverage

CAPEX
$100 - $120
$180 - $200 $74
$53

$157
$907 $885 - $905
$104
$818
3.5x
$116 $70 - $90 3.4x

2.5x - 3.5x

$42

2021
2021 2022
2022 2023
2023 2021 2022 2023 2021
YE21 2022
YE22 2023
YE23 E21
YE21 E22
YE22 E23
YE23
utlook
Outlook utlook
Outlook utlook
Outlook utlook
Outlook

(1) Free Cash Flow, Net Total Debt, and Leverage are non-GAAP financial measures; refer to “Non-GAAP Financial Measures” in the Appendix

ITGR: 1Q23 Earnings Conference Call / April 27, 2023 / Page 15

 Wrap-up

ITGR: 1Q23 Earnings Conference Call / April 27, 2023 / Page 16

 Wrap-up

✓ Strong start to the year with 1Q23 financial results

• 1Q23 sales up 22% vs. 1Q22, up 21% organic
• Adjusted operating income up 28% vs. 1Q22, expanded rate by ~70 bps
• Labor environment stabilizing but supply chain environment remains challenging

✓ Reiterate 2023 outlook: Above-market growth, expanding margins

• Sales $1,470 to $1,500 million, up 7% to 9% reported and organic
• Expect 2Q23 sales similar to $365 million 1Q23 run rate assuming a continued
challenging supply chain environment
• Adjusted operating income $211 to $222 million, up 10% to 16%, improving
sequentially throughout 2023
• Adjusted EPS $4.00 to $4.30, up 3% to 11%

✓ Executing strategy to accelerate top-line growth

• Demonstrating sustained above-market sales growth
• Investing in critical capacity expansions to support above-market growth

ITGR: 1Q23 Earnings Conference Call / April 27, 2023 / Page 17

 Integer Investment Thesis

Strategy Financial
Objectives

•1 Sales growth 200

basis points above
market

•2 Operating profit 2x
sales growth rate

•3 Debt leverage
2.5x – 3.5x

Resilient Compelling Performance Financial

Business Model Strategy for Growth Culture Strength

✓ Sustainable mid-single-digit ✓ ~70% sales under ✓ Leadership capability: ✓ Track record of delivering
growth industry multi-year agreements – Selection, development,
sustainable profitable growth
✓ Breadth of product portfolio evaluation, succession
✓ Favorable outsourcing trends ✓ Strong cash generation
✓ Performance excellence:
✓ Proprietary technology, long ✓ World-class research & ✓ Disciplined capital allocation
development cycle, high development capabilities – Engagement, assessment,
switching costs & regulatory organization effectiveness
✓ Diversity & Inclusion

ITGR: 1Q23 Earnings Conference Call / April 27, 2023 / Page 18

 Questions?

ITGR: 1Q23 Earnings Conference Call / April 27, 2023 / Page 19

 Appendix

ITGR: 1Q23 Earnings Conference Call / April 27, 2023 / Page 20

 (a)
2023 Outlook
($ in millions, except per share amounts)

ITGR: 1Q23 Earnings Conference Call / April 27, 2023 / Page 21

 2023 Supplemental Financial Information
($ in millions, except per share amounts)

ITGR: 1Q23 Earnings Conference Call / April 27, 2023 / Page 22

 (1)
Historical Financial Results
($ in millions, except per share amounts)

Sales Adjusted EPS

1
1
10 2
12 2
23
2
10 11
23 21 20
22
20
1
1 3
13
131
12 123
13 121
122

1.11
1.0 1.0 1.0
0. 0. 0.
0.
0.
1 1 1 1 1
1
1 2 1 1
1 1 1

1Q21 2Q21 3Q21 Q21 1Q22 2Q22 3Q22 Q22 1Q23 1Q21 2Q21 3Q21 Q21 1Q22 2Q22 3Q22 Q22 1Q23

(1) Adjusted EPS is a non-GAAP financial measure; refer to “Non-GAAP Financial Measures” in the Appendix. The quarterly and annual EPS numbers are calculated independently and may not sum to the total.

ITGR: 1Q23 Earnings Conference Call / April 27, 2023 / Page 23

 Capitalization(1)
($ in millions)

03/31/23 03/31/23
As Reported Rate

Cash & Cash Equivalents $ 41

$500M Revolver [Due 2028]

- US Dollar based borrowings $ 10 SOFR + 175
- Euro based borrowings $ 109 Euribor + 175
TLA [Due 2028] $ 400 SOFR + 175
Convertible Notes [Due 2028] $ 500 2.125% fixed
Total Principal Amount of Debt Outstanding $ 1,019

Deferred Fees and OID $ (17)

Total Debt (Principal Amount of Debt Outstanding Less Deferred Fees and Discounts) $ 1,002

Net Total Debt (Total Principal Amount of Debt Outstanding Less Cash) (1) $ 978

Continuing Operations Statistics

Trailing 4 Quarter Adjusted EBITDA (1) $ 268
Trailing 4 Quarter Cash Interest Expense $ 42
Trailing 4 Quarter Capital Expenditures $ 88

Credit Statistics
Leverage Ratio(1): Net Total Debt / Trailing 4 Quarter Adjusted EBITDA 3.6x

(1) Net Total Debt, Adjusted EBITDA and Leverage Ratio are non-GAAP financial measures; refer to “Non-GAAP Financial Measures” in the Appendix

ITGR: 1Q23 Earnings Conference Call / April 27, 2023 / Page 24

 Product Line Review

ITGR: 1Q23 Earnings Conference Call / April 27, 2023 / Page 25

 Year-over-Year Sales Trend, Trailing 4 Quarters
% of Sales Cardio & Vascular

Integer
51%

CRM & Neuromodulation

38%

Advanced Surgical, Orthopedics & Portable Medical

7%

Electrochem

4%

ITGR: 1Q23 Earnings Conference Call / April 27, 2023 / Page 26

 Cardio & Vascular

Offering a full-range of products and services for catheter-based interventional

vascular devices and a suite of supply chain solutions to support the
development and manufacturing of complex components, sub-assemblies and finished devices
Quarterly Sales
($ in millions)

Catheters & Steerable Guidewires, Introducers &

Delivery Systems Implants
Sheaths Stylets

• 1Q23 double-digit year-over-year sales increase driven by

Y-o-Y %
Change
strong demand across all markets and key products, such as
guidewires, new product ramps in electrophysiology, as well as
Trailing 4 Quarter Sales
($ in millions) strong performance from Oscor and Aran acquisitions

• Trailing 4 quarter sales increased 20% year-over-year in 1Q23

with double-digit growth across all C&V markets, driven by
strong customer demand and acquisition performance

• Expect 2023 C&V product line trailing 4 quarter sales to grow

high single-digit to low double-digit year-over-year
Y-o-Y %
Change

ITGR: 1Q23 Earnings Conference Call / April 27, 2023 / Page 27

 CRM & Neuromodulation

Providing technology solutions for the active implantable medical device industry
by partnering with customers to bring high-quality products to
established and emerging markets – from initial concept through high-volume manufacturing
Quarterly Sales
($ in millions)

Pulse Generator Leads & Lead Components, Pulse Generators & External
Components & Adaptors & Assemblies Solutions (Programmers, Chargers,
Assemblies Patient Devices)

• 1Q23 sales increased 18% year-over-year, with double-digit

Y-o-Y %
Change
growth in both CRM and Neuromodulation, driven by strong
demand, including double-digit growth from emerging
Trailing 4 Quarter Sales
($ in millions)
customers with PMA products

• Trailing 4 quarter sales increased 10% year-over-year driven

by high single-digit CRM growth from the Oscor acquisition
and double-digit growth from emerging customers

• Expect 2023 CRM&N product line trailing 4 quarter sales to

grow mid to high single-digit year-over-year
Y-o-Y %
Change

ITGR: 1Q23 Earnings Conference Call / April 27, 2023 / Page 28

 Advanced Surgical, Orthopedics & Portable Medical

Offering a broad portfolio of power solutions and technologies to Portable

Medical markets and supporting the divested AS&O product line
Quarterly Sales
($ in millions)

Orthopedic Implants & Electrosurgical Li-Ion Battery Core Battery

Instruments Accessories Packs Pack Assemblies

• 1Q23 sales growth of 42% year-over-year driven by

Y-o-Y %
Change
increased price and demand as a result of the execution of
the multi-year Portable Medical exit announced in 2022,
Trailing 4 Quarter Sales
($ in millions)
partially offset by a single-digit decline in Advanced Surgical
and Orthopedics

• Trailing 4 quarter sales increased 22% year-over-year driven

by high double-digit growth in Portable Medical related to
demand to support the multi-year Portable Medical exit

• Expect 2023 trailing 4 quarter sales to decline single-digit

Y-o-Y %
year-over-year as a result of the multi-year Portable Medical
Change
exit program
ITGR: 1Q23 Earnings Conference Call / April 27, 2023 / Page 29
 Electrochem

Enhancing lives worldwide by providing superior power solutions that enable the
success and advancement of our customers’ critical applications
Quarterly Sales
($ in millions)

Battery Cells Battery Packs Battery Chargers

• 1Q23 sales increased 63% vs. 1Q22 driven by strong

Y-o-Y %
Change
demand across all market segments and continued supplier
delivery recovery
Trailing 4 Quarter Sales
($ in millions)

• Trailing 4 quarter sales increased 31% year-over-year, driven

by low double-digit energy market growth and strong demand
in the military market

• Expect 2023 Electrochem product line trailing 4 quarter sales

to grow high single-digit to low double-digit year-over-year

Y-o-Y %
Change

ITGR: 1Q23 Earnings Conference Call / April 27, 2023 / Page 30

 Non-GAAP Financial Measures

ITGR: 1Q23 Earnings Conference Call / April 27, 2023 / Page 31

 Non-GAAP Financial Measures
This presentation may contain the non-GAAP financial measures defined in the table below. A reconciliation of these non-GAAP financial measures to the most directly
comparable GAAP financial measures can be found in the financial schedules accompanying the earnings release or the Trending Schedules posted on the Investor
Relations section of the Company’s website at investor.integer.net. Reconciliations by line item to the closest corresponding GAAP financial measure for forward-
looking non-GAAP financial measures are not available without unreasonable efforts due to the high variability, complexity and visibility of the charges excluded from
these non-GAAP financial measures.

Non-GAAP Financial Measure Definitions:

Adjusted Net Income Calculated by adding back amortization of intangible assets, certain legal expenses (gains), restructuring and restructuring-related charges,
acquisition and integration related costs, other general expenses, (gain) loss on equity investments, extinguishment of debt charges, European Union
medical device regulation incremental charges, customer bankruptcy expenses, inventory step-up amortization, the income tax provision (benefit)
related to these adjustments, and certain tax items that are outside the normal provision for the period, to net income.
Adjusted EPS Calculated by dividing adjusted net income by diluted weighted average shares outstanding. The per share impact of Non-GAAP adjustments to
arrive at Adjusted EPS is calculated by dividing the dollar amount of the respective Non-GAAP adjustment by diluted weighted average shares
outstanding.
Adjusted Operating Income and Calculated by adding back amortization of intangible assets, certain legal expenses (gains), restructuring and restructuring-related charges,
Adjusted Operating Income % of acquisition and integration related costs, other general expenses, European Union medical device regulation incremental charges, customer
Sales bankruptcy expenses, and inventory step-up amortization to operating income. Adjusted Operating Income % of Sales is calculated by dividing
Adjusted Operating Income by Sales.
Organic sales change Sales growth adjusted for the impact of foreign currency and the contribution of acquisitions. To calculate the impact of foreign currency on sales
growth rates, we convert any sale made in a foreign currency by converting current period sales into prior period sales using the exchange rate in
effect at that time and then compare the two, negating any effect foreign currency had on our transactional revenue, and exclude the amount of sales
acquired or divested during the period from the current/previous period amounts, respectively.
Earnings before interest, taxes, Calculated by adding back interest expense, provision (benefit) for income taxes, depreciation expense, and amortization expense from intangible
depreciation and amortization assets and financing leases, to net income, which is the most directly comparable GAAP measure.
(“EBITDA”)
Adjusted EBITDA EBITDA plus stock-based compensation, certain legal expenses (gains), restructuring and restructuring-related charges, acquisition and integration
related costs, other general expenses, (gain) loss on equity investments, European Union medical device regulation incremental charges, customer
bankruptcy expenses, and inventory step-up amortization.
Adjusted total interest expense Defined as GAAP total interest expense less accelerated write-offs of deferred issuance costs and unamortized discounts (loss on extinguishment of
debt).
Adjusted effective interest rate on Calculated by subtracting from the effective interest rate on borrowings the impact of losses on extinguishment of debt
borrowings
Net Total Debt Total principal amount of debt outstanding less cash and cash equivalents.
Leverage ratio (also Leverage or Net Total Debt divided by Adjusted EBITDA for the trailing 4 quarters. Leverage ratio differs from total net leverage ratio used in our bank
Debt Leverage) covenants. See the Trending Schedules located in the Investor Relations section of the Company’s website at investor.integer.net for Total net
Leverage ratio prepared in accordance with the Senior Secured Credit Facilities.
Free Cash Flow Net cash provided by operating activities (as stated in our Statement of Cash Flows) reduced by capital expenditures (acquisition of property, plant,
and equipment (PP&E), net of proceeds from sale of PP&E).
Adjusted Effective Tax Rate Calculated by adding or subtracting from the effective tax rate from continuing operations the impact of Non-GAAP adjustments, expressed as a
percentage, to arrive at Adjusted Net Income.
ITGR: 1Q23 Earnings Conference Call / April 27, 2023 / Page 32
 Non-GAAP Reconciliation
1Q23 Net Income and Diluted EPS Reconciliation – Detailed View
($ in thousands, except per share amounts)

2023 2022
GAAP Non-GAAP Non-GAAP
Restructuring
and Acquisition
restructuring- and Debt / Medical
Amortization related integration Other general Investment device Tax
As Reported of intangibles charges costs expenses Adjustments regulations Adjustments Adjusted Adjusted

Sales $ 378,785 $ - $ - $ - $ - $ - $ - $ - $ 378,785 $ 310,912

Cost of sales 282,112 (3,977) (177) - - - (212) - 277,746 224,905
Gross profit 96,673 3,977 177 - - - 212 - 101,039 86,007
Gross margin 25.5% 1.0% 0.0% 0.0% 0.0% 0.0% 0.1% 0.0% 26.7% 27.7%
Operating expenses:
Selling, general and administrative 41,886 (8,947) (241) - - - (49) - 32,649 31,252
Research, development and engineering 19,092 - (323) - - - (241) - 18,528 15,950
Restructuring and other charges 1,529 - (1,064) (382) (83) - - - - -
Total operating expenses 62,507 (8,947) (1,628) (382) (83) - (290) - 51,177 47,202
Operating income 34,166 12,924 1,805 382 83 - 502 - 49,862 38,805
Operating margin 9.0% 3.4% 0.5% 0.1% 0.0% 0.0% 0.1% 0.0% 13.2% 12.5%
Interest expense 17,254 - - - - (4,393) - - 12,861 5,968
Loss on equity investments 155 - - - - (155) - - - -
Other loss, net 760 - - - - - - - 760 177
Income before taxes 15,997 12,924 1,805 382 83 4,548 502 - 36,241 32,660
Provision for income taxes 2,932 2,708 409 112 24 955 107 (66) 7,181 6,581
Effective tax rate 18.3% 21.0% 22.7% 29.3% 28.9% 21.0% 21.3% n/a 19.8% 20.2%
Net income $ 13,065 $ 10,216 $ 1,396 $ 270 $ 59 $ 3,593 $ 395 $ 66 $ 29,060 $ 26,079

Diluted earnings per share $ 0.39 $ 0.30 $ 0.04 $ 0.01 $ - $ 0.11 $ 0.01 $ - $ 0.87 $ 0.78
Weighted average shares - Diluted 33,575 33,575 33,575 33,575 33,575 33,575 33,575 33,575 33,575 33,302

NM
Calculated amount not meaningful

ITGR: 1Q23 Earnings Conference Call / April 27, 2023 / Page 33

 Contact Information

Andrew Senn
Senior Vice President, Strategy, Business Development & Investor Relations
Andrew.Senn@Integer.net
(O) 763.951.8312

www.integer.net

ITGR: 1Q23 Earnings Conference Call / April 27, 2023 / Page 34