Announcement no. 2/2025

5 February 2025

Today Embla Medical publishes its 2024 Annual Report.

The full report including Remuneration and Governance Reports can be downloaded from our website https://www.emblamedical.com/annual-report

LETTER FROM THE CEO

As we look back on a successful 2024, what stands out most is delivering on our relentless commitment to improving people`s mobility. Our innovative product solutions and patient care have a positive impact on millions of lives around the world.

The year was marked by several milestones, most notably the establishment of Embla Medical, beginning to unite our patient care business under the ForMotion brand, and the acquisition of Fior & Gentz, to name a few.

Additionally, positive market trends such as the expanded US Medicare coverage for advanced bionic prosthetics for less mobile K2 amputees, brings potential for improved quality of life for a large patient population.

We continue to execute well on our Growth'27 strategy delivering solid sales in line with our long-term financial ambition. For 2024, we delivered 6% organic growth driven by a strong performance in Prosthetics & Neuro Orthotics and Patient Care, while growth in local currency was 9% supported by positive impact from the acquisition of Fior & Gentz. Our EBITDA margin also came in strong for the year at 20% reflecting operational efficiency and effective cost control.

In the beginning of 2024, we acquired Fior & Gentz, a leading maker of transformative and innovative lower limb neuro orthotic devices for people living with neurological conditions. The acquisition is an important milestone in our growth journey, marking our expansion into the field of Neuro Orthotics. An exciting field which broadens our ability to support individuals with chronic mobility challenges. We are very pleased to see the integration progressing according to plan as we transfer product distribution to our commercial distribution network and existing O&P clinics in mature, reimbursed markets.

I am also thrilled with our progress within R&D, as we launched several exciting innovations during the year. These include two new bionic knees - Icon^®, a new user-friendly and versatile knee solution, and Navii^®, our next generation Rheo Knee^®, which comes in a fully waterproof version featuring a powerful actuator. Beyond these new knee solutions, we also launched the Pro-Flex^® Terra foot, which offers increased flexibility, balance and adaptability for low-active patients. I am very proud of our ability to innovate, while addressing real patient needs.

2024 was also the year we introduced a new unified brand identity, ForMotion, for our patient care facilities. The goal of ForMotion is to bring our network of O&P clinics under a single cohesive brand. This transition will be implemented in phases, eventually encompassing our entire global network of O&P patient care facilities, which currently operate under different brand names. This unified network will deliver comprehensive, modern, and innovative care while honoring the expertise and heritage unique to each location.

Another highlight was the 2024 Paralympic Games, where a global team of elite para-athletes using Össur's renowned prosthetics won 22 medals and set five new Paralympic records. The Paris Paralympics established new benchmarks for excellence, inclusivity, and audience engagement. Every competitor rose to the occasion, and I was fortunate to personally meet many of our inspiring athletes, who truly embody Life Without Limitations^®.

Lastly, we are incredibly proud to have been named one of TIME Magazine's World's Best Companies in Sustainable Growth 2025, an accolade that reflects our commitment to advancing a robust sustainability agenda.

I am excited to see what the future will bring and sincerely thank our employees, customers, end-users, and shareholders for their trust and continued collaboration to improve people`s mobility.

Sveinn Sölvason

President and CEO

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Further information

Klaus Sindahl
Head of Investor Relations 
M: +45 5363 0134
E: ksindahl@emblamedical.com

Edda Heidrun Geirsdottir
VP of Corporate Communication 
M: +354 664 1055
E: egeirsdottir@emblamedical.com

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About Embla Medical

Embla Medical (Nasdaq Copenhagen: EMBLA) was founded in Reykjavik in 1971 with the mission to improve people's mobility. Embla Medical is home to several brands renowned for positively impacting people's health and well-being. They include Össur, a leading global provider of prosthetics and bracing and supports solutions; FIOR & GENTZ, an innovative developer of neuro orthotics; and College Park Industries, creators of custom-built prosthetic solutions. Embla Medical also provides patients with world-class care through a global network of Orthotic and Prosthetic (O&P) facilities. Embla Medical is committed to sustainable business practices and is signatory to the UN Global Compact, UN Women's Empowerment Principles, and contributes to the UN Sustainable Development Goals. The company's climate targets have been verified by the Science Based Targets initiative. Embla Medical operates globally and has more than 4,000 employees. www.emblamedical.com

Embla Medical was formerly listed as Össur (OSSR) on Nasdaq Copenhagen until 8 April 2024.