# EDGAR Filing Document

**Accession Number:** 0000096943
**File Stem:** 0000096943-23-000019
**Filing Date:** 2023-2
**Character Count:** 84198
**Document Hash:** e91210c1feb7492505ea8726f5c11e65
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000096943-23-000019.hdr.sgml**: 20230223

**ACCESSION NUMBER**: 0000096943-23-000019

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 43

**CONFORMED PERIOD OF REPORT**: 20230223

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230223

**DATE AS OF CHANGE**: 20230223

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TELEFLEX INC
- **CENTRAL INDEX KEY:** 0000096943
- **STANDARD INDUSTRIAL CLASSIFICATION:** SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
- **IRS NUMBER:** 231147939
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-05353
- **FILM NUMBER:** 23655864

**BUSINESS ADDRESS:**
- **STREET 1:** 550 E SWEDESFORD RD
- **STREET 2:** SUITE 400
- **CITY:** WAYNE
- **STATE:** PA
- **ZIP:** 19087
- **BUSINESS PHONE:** 610-225-6800

**MAIL ADDRESS:**
- **STREET 1:** 550 E SWEDESFORD RD
- **STREET 2:** SUITE 400
- **CITY:** WAYNE
- **STATE:** PA
- **ZIP:** 19087

?xml version="1.0" ? tfx-20230223

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, DC 20549**

**FORM 8-K** 

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

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| | |
|:---|:---|
| **Date of Report (Date of Earliest Event Reported)** | **February 23, 2023** |

---

**TELEFLEX INCORPORATED** 

(Exact name of Registrant as Specified in Its Charter)

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| | | |
|:---|:---|:---|
| **<u>Delaware</u>** | **<u>1-5353</u>** | **<u>23-1147939</u>** |
| (State or Other Jurisdiction<br>of Incorporation or Organization) | (Commission File Number) | (IRS Employer<br>Identification No.) |

---

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| | | | | |
|:---|:---|:---|:---|:---|
| **<u>550 E. Swedesford Rd., Suite 400</u>** | **<u>Wayne,</u>** | **<u>PA</u>** |  | **<u>19087</u>** |
| **(Address of Principal Executive Offices)** | **(Address of Principal Executive Offices)** | **(Address of Principal Executive Offices)** |  | (Zip Code) |
| Registrant's Telephone Number, Including Area Code |  | **(610)** | **225-6800** |  |

---

---

| |
|:---|
| **Not applicable** |
| **(Former Name or Former Address, If Changed Since Last Report)** |

---

---

| | | |
|:---|:---|:---|
| Securities registered pursuant to Section 12(b) of the Act: | Securities registered pursuant to Section 12(b) of the Act: | Securities registered pursuant to Section 12(b) of the Act: |
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock, par value $1 per share | TFX | New York Stock Exchange |

---

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 2.02. Results of Operations and Financial Condition.** 

On February 23, 2023, Teleflex Incorporated (the "Company") issued a press release (the "Press Release") announcing its financial results for the quarter and year ended December 31, 2022. A copy of the Press Release is furnished as Exhibit 99.1 to this Current Report.

In addition to the financial information included in the Press Release that has been prepared in accordance with generally accepted accounting principles in the United States ("GAAP"), the Press Release includes certain non-GAAP financial measures. These measures include constant currency revenue growth and adjusted diluted earnings per share. Constant currency revenue growth is based upon net revenues, adjusted to eliminate the impact of translating the results of international subsidiaries at different currency exchange rates from period to period. The impact of changes in foreign currency may vary significantly from period to period, and generally are outside of the control of our management. We believe that this measure facilitates a comparison of our operating performance exclusive of fluctuations that do not reflect our underlying performance or business trends. Adjusted diluted earnings per share is based upon diluted earnings per share available to common stockholders, the most directly comparable GAAP measure, adjusted to exclude, depending on the period presented, the impact (net of tax) of (i) restructuring, restructuring related and impairment items; (ii) acquisition, integration and divestiture related items; (iii) other items identified in note (C) to each of the reconciliation tables set forth in the Press Release; (iv) certain expenditures associated with the registration of medical devices under the European Union Medical Device Regulation; (v) intangible amortization expense; and (vi) tax adjustments. Management does not believe that any of the excluded items are indicative of our underlying core performance or business trends.

Management uses these non-GAAP financial measures to assess the Company's financial performance, make operating decisions, allocate financial resources, provide guidance on possible future results, and assist in its evaluation of period-to-period and peer comparisons. The non-GAAP measures may be useful to investors because they provide insight into management's assessment of our business, and provide supplemental information pertinent to a comparison of period-to-period results of our ongoing operations. The non-GAAP financial measures are presented in addition to results presented in accordance with GAAP and should not be relied upon as a substitute for GAAP financial measures. Moreover, our non-GAAP financial measures may not be comparable to similarly titled measures used by other companies.

The information furnished pursuant to Item 2.02 of this Current Report, including Exhibit 99.1 hereto, shall not be considered "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of such section, nor shall it be incorporated by reference into future filings by the Company under the Securities Act of 1933, as amended, or under the Securities Exchange Act of 1934, as amended, unless the Company expressly sets forth in such future filing that such information is to be considered "filed" or incorporated by reference therein.

**Item 7.01. Regulation FD Disclosure.**

In connection with the conference call to be held by the Company on February 23, 2023 to discuss its financial results for the quarter and year ended December 31, 2022, the Company plans to reference a slide presentation, which will be made available in advance of the call through the Company's website. A copy of the slide presentation is furnished as Exhibit 99.2 to this Current Report.

The information furnished pursuant to Item 7.01 of this Current Report, including Exhibit 99.2, shall not be considered "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of such section, nor shall it be incorporated by reference into future filings by the Company under the Securities Act of 1933, as amended or under the Securities Exchange Act of 1934, as amended, unless the Company expressly sets forth in such future filing that such information is to be considered "filed" or incorporated by reference therein.

------

**Item 9.01. Financial Statements and Exhibits.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.1&nbsp;&nbsp;&nbsp;&nbsp;<u>[Earnings Press Release, dated](ex991to2-23x20238xkreq4202.htm)[February](ex991to2-23x20238xkreq4202.htm)[2](ex991to2-23x20238xkreq4202.htm)[3](ex991to2-23x20238xkreq4202.htm)[, 202](ex991to2-23x20238xkreq4202.htm)[3](ex991to2-23x20238xkreq4202.htm)</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.2&nbsp;&nbsp;&nbsp;&nbsp;<u>[Earnings Conference Call Slide Presentation](exhibit992to2-23x20238xk.htm)</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104&nbsp;&nbsp;&nbsp;&nbsp;The Cover Page from this Current Report on Form 8-K, formatted in Inline XBRL

------

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Date: February 23, 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TELEFLEX INCORPORATED<br>By: <u>/s/ Thomas E. Powell</u> <br>Name: Thomas E. Powell<br>Title: Executive Vice President and <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief Financial Officer |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

## Exhibit 99.1

Exhibit 99.1

![image_0a.jpg](image_0a.jpg)

FOR IMMEDIATE RELEASE February 23, 2023

**Teleflex Reports Fourth Quarter and Full Year 2022 Financial Results** 

**Wayne, PA --** Teleflex Incorporated (NYSE: TFX) (the "Company") today announced financial results for the fourth quarter ended December 31, 2022.

***Fourth quarter financial summary***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *Revenues of $758.0 million, down 0.5% compared to the prior year period, up 3.7% on a constant currency basis*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *GAAP diluted EPS from continuing operations of $1.65, compared to $2.69 in the prior year period*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• Adjusted diluted EPS from continuing operations of $3.52, compared to $3.60 in the prior year period*

***Full year 2022 financial summary***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *Revenues of $2,791.0 million, down 0.7% year-over-year; up 2.9% on a constant currency basis* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *GAAP diluted EPS from continuing operations of $7.67, compared to $10.23 in the prior year* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• Adjusted diluted EPS from continuing operations of $13.06, compared to $13.33 in the prior year* 

***2023 guidance summary***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• GAAP revenue growth guidance of 4.25% to 5.75%*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• Constant currency revenue growth guidance of 4.75% to 6.25%*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• GAAP EPS from continuing operations guidance of $8.26 to $8.86*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• Adjusted diluted EPS from continuing operations guidance of $13.00 to $13.60* 

"Our business showed continued resilience in the fourth quarter with a sequential improvement in constant currency revenue growth and margin expansion" said Liam Kelly, Teleflex's Chairman, President and Chief Executive Officer. "In the quarter, we maintained healthy margins, and advanced our capital allocation strategy with the completion of the acquisition of Standard Bariatrics. As we look into 2023, we remain committed to our corporate strategy for durable growth."

------

**NET REVENUE BY SEGMENT**

The following table provides information regarding net revenues in each of the Company's reportable operating segments for the three and twelve months ended December 31, 2022 and December 31, 2021 on both a GAAP and constant currency basis.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **% Increase / (Decrease)** | **% Increase / (Decrease)** | **% Increase / (Decrease)** |
| | **December 31, 2022** | **December 31, 2021** | **Reported Revenue Growth** | **Currency Impact** | **Constant Currency Revenue Growth** |
| Americas | $458.0 | $451.7 | 1.4% | (0.3)% | 1.7% |
| EMEA | 147.8 | 164.5 | (10.2)% | (11.6)% | 1.4% |
| Asia | 78.5 | 78.5 | —% | (13.3)% | 13.3% |
| OEM | 73.7 | 67.2 | 9.7% | (2.3)% | 12.0% |
| Consolidated | $758.0 | $761.9 | (0.5)% | (4.2)% | 3.7% |

---

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended** | **Year Ended** | **% Increase / (Decrease)** | **% Increase / (Decrease)** | **% Increase / (Decrease)** |
| | **December 31, 2022** | **December 31, 2021** | **Reported Revenue Growth** | **Currency Impact** | **Constant Currency Revenue Growth** |
| Americas | $1653.7 | $1659.3 | (0.3)% | (0.2)% | (0.1)% |
| EMEA | 558.4 | 606.8 | (8.0)% | (10.8)% | 2.8% |
| Asia | 306.3 | 297.8 | 2.9% | (8.9)% | 11.8% |
| OEM | 272.6 | 245.7 | 11.0% | (2.4)% | 13.4% |
| Consolidated | $2791.0 | $2809.6 | (0.7)% | (3.6)% | 2.9% |

---

**NET REVENUE BY GLOBAL PRODUCT CATEGORY**

The following table provides information regarding net revenues in each of the Company's global product categories for the three and twelve months ended December 31, 2022 and December 31, 2021 on both a GAAP and constant currency basis.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **% Increase / (Decrease)** | **% Increase / (Decrease)** | **% Increase / (Decrease)** |
| | **December 31, 2022** | **December 31, 2021** | **Reported Revenue Growth** | **Currency Impact** | **Constant Currency Revenue Growth** |
| Vascular Access | $186.4 | $193.0 | (3.4)% | (3.9)% | 0.5% |
| Interventional | 125.1 | 114.9 | 8.8% | (4.6)% | 13.4% |
| Anesthesia | 99.6 | 102.8 | (3.1)% | (5.1)% | 2.0% |
| Surgical | 110.4 | 106.4 | 3.9% | (6.5)% | 10.4% |
| Interventional Urology | 89.2 | 92.9 | (4.1)% | (0.5)% | (3.6)% |
| OEM | 73.7 | 67.2 | 9.7% | (2.3)% | 12.0% |
| Other | 73.6 | 84.7 | (13.1)% | (6.0)% | (7.1)% |
| Consolidated | $758.0 | $761.9 | (0.5)% | (4.2)% | 3.7% |

---

&nbsp;&nbsp;&nbsp;&nbsp;

------

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Year Ended** | **Year Ended** | **% Increase / (Decrease)** | **% Increase / (Decrease)** | **% Increase / (Decrease)** |
| | **December 31, 2022** | **December 31, 2021** | **Reported Revenue Growth** | **Currency Impact** | **Constant Currency Revenue Growth** |
| Vascular Access | $683.6 | $700.2 | (2.4)% | (3.3)% | 0.9% |
| Interventional | 445.0 | 427.5 | 4.1% | (3.5)% | 7.6% |
| Anesthesia | 388.9 | 380.1 | 2.3% | (4.5)% | 6.8% |
| Surgical | 392.9 | 377.8 | 4.0% | (5.1)% | 9.1% |
| Interventional Urology | 322.8 | 341.7 | (5.5)% | (0.3)% | (5.2)% |
| OEM | 272.6 | 245.7 | 11.0% | (2.4)% | 13.4% |
| Other | 285.2 | 336.6 | (15.3)% | (5.4)% | (9.9)% |
| Consolidated | $2791.0 | $2809.6 | (0.7)% | (3.6)% | 2.9% |

---

**OTHER FINANCIAL HIGHLIGHTS** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Depreciation expense, amortization of intangible assets and deferred financing charges for the twelve months ended December 31, 2022 totaled $234.6 million compared to $241.9 million for the prior year period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Cash and cash equivalents at December 31, 2022 were $292.0 million compared to $445.1 million at December 31, 2021.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net accounts receivable at December 31, 2022 were 408.8 million compared to $383.6 million at December 31, 2021.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Inventories at December 31, 2022 were $578.5 million compared to $477.6 million at December 31, 2021.

**2023 OUTLOOK** 

On a GAAP basis, full year 2023 revenue growth outlook is expected to be 4.25% to 5.75%, reflecting our estimate of an approximately 0.50% negative impact of foreign exchange rate fluctuations. On a constant currency basis, the Company expects full year 2023 revenue growth of 4.75% to 6.25% year-over-year.

The Company expects full year 2023 GAAP diluted earnings per share from continuing operations of $8.26 to $8.86. The Company expects 2023 adjusted diluted earnings per share from continuing operations of $13.00 to $13.60, representing growth of (0.5)% to 4.1% year-over-year.

***Forecasted 2023 Constant Currency Revenue Growth Reconciliation***

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| | | |
|:---|:---|:---|
| | **Low** | **High** |
| Forecasted 2023 GAAP revenue growth | 4.25% | 5.75% |
| Estimated impact of foreign currency exchange rate fluctuations | (0.50)% | (0.50)% |
| Forecasted 2023 constant currency revenue growth | 4.75% | 6.25% |

---

------

***Forecasted 2023 Adjusted Diluted Earnings Per Share From Continuing Operations Reconciliation***

---

| | | |
|:---|:---|:---|
| | **Low** | **High** |
| Forecasted GAAP diluted earnings per share from continuing operations | $8.26 | $8.86 |
| Restructuring, restructuring related and impairment items, net of tax | $0.55 | $0.55 |
| Acquisition, integration and divestiture related items, net of tax | $0.18 | $0.18 |
| Other items, net of tax | $0.05 | $0.05 |
| MDR | $0.65 | $0.65 |
| Intangible amortization expense, net of tax | $3.31 | $3.31 |
| Forecasted adjusted diluted earnings per share from continuing operations | $13.00 | $13.60 |

---

------

**CONFERENCE CALL WEBCAST AND ADDITIONAL INFORMATION**

A webcast of Teleflex's fourth quarter 2022 investor conference call can be accessed live from a link on the Company's website at teleflex.com. The call will begin at 8:00 am ET on February 23, 2023.

An audio replay of the investor call will be available beginning at 11:00 am ET on February 23, 2023, either on the Teleflex website or by telephone. The call can be accessed by dialing 1 866 813 9403 (U.S.) or +44 204 525 0658 (all other locations). The confirmation code is 903856.

**ADDITIONAL NOTES**

References in this release to the impact of foreign currency exchange rate fluctuations on adjusted diluted earnings per share include both the impact of translating foreign currencies into U.S. dollars and the impact of foreign currency exchange rate fluctuations on foreign currency denominated transactions.

In the discussion of segment results, "new products" refers to products for which we initiated commercial sales within the past 36 months and "existing products" refers to products we have sold commercially for more than 36 months.

Certain financial information is presented on a rounded basis, which may cause minor differences. Segment results and commentary exclude the impact of discontinued operations.

**NOTES ON NON-GAAP FINANCIAL MEASURES**

We report our financial results in accordance with accounting principles generally accepted in the United States, commonly referred to as "GAAP." In this press release, we provide supplemental information, consisting of the following non-GAAP financial measures: constant currency revenue growth and adjusted diluted earnings per share. These non-GAAP measures are described in more detail below. Management uses these financial measures to assess Teleflex's financial performance, make operating decisions, allocate financial resources, provide guidance on possible future results, and assist in its evaluation of period-to-period and peer comparisons. The non-GAAP measures may be useful to investors because they provide insight into management's assessment of our business, and provide supplemental information pertinent to a comparison of period-to-period results of our ongoing operations. The non-GAAP financial measures are presented in addition to results presented in accordance with GAAP and should not be relied upon as a substitute for GAAP financial measures. Moreover, our non-GAAP financial measures may not be comparable to similarly titled measures used by other companies.

Tables reconciling changes in historical constant currency net revenues to historical GAAP net revenues are set forth above under "Net Revenue by Segment" and "Net Revenue by Global Product Category". Tables reconciling historical adjusted diluted earnings per share from continuing operations to historical GAAP diluted earnings per share from continuing operations are set forth below.

------

**Constant currency revenue growth:** This non-GAAP measure is based upon net revenues, adjusted to eliminate the impact of translating the results of international subsidiaries at different currency exchange rates from period to period. The impact of changes in foreign currency may vary significantly from period to period, and such changes generally are outside of the control of our management. We believe that this measure facilitates a comparison of our operating performance exclusive of currency exchange rate fluctuations that do not reflect our underlying performance or business trends.

**Adjusted diluted earnings per share:** This non-GAAP measure is based upon diluted earnings per share from continuing operations, the most directly comparable GAAP measure, adjusted to exclude, depending on the period presented, the items described below. Management does not believe that any of the excluded items are indicative of our underlying core performance or business trends.

*Restructuring, restructuring related and impairment items -* Restructuring programs involve discrete initiatives designed to, among other things, consolidate or relocate manufacturing, administrative and other facilities, outsource distribution operations, improve operating efficiencies and integrate acquired businesses. Depending on the specific restructuring program involved, our restructuring charges may include employee termination, contract termination, facility closure, employee relocation, equipment relocation, outplacement and other exit costs associated with the restructuring program. Restructuring related charges are directly related to our restructuring programs and consist of facility consolidation costs, including accelerated depreciation expense related to facility closures, costs to transfer manufacturing operations between locations, and retention bonuses offered to certain employees as an incentive for them to remain with our company after completion of the restructuring program. Impairment charges occur if, due to events or changes in circumstances, we determine that the carrying value of an asset exceeds its fair value. Impairment charges do not directly affect our liquidity, but could have a material adverse effect on our reported financial results.

*Acquisition, integration and divestiture related items -* Acquisition and integration expenses are incremental charges, other than restructuring or restructuring related expenses, that are directly related to specific business or asset acquisition transactions. These charges may include, among other things, professional, consulting and other fees; systems integration costs; legal entity restructuring expense; inventory step-up amortization (amortization, through cost of goods sold, of the increase in fair value of inventory resulting from a fair value calculation as of the acquisition date); fair value adjustments to contingent consideration liabilities; and bridge loan facility and backstop financing fees in connection with loan facilities that ultimately were not utilized. Divestiture related activities involve specific business or asset sales. Depending primarily on the terms of a divestiture transaction, the carrying value of the divested business or assets on our financial statements and other costs we incur as a direct result of the divestiture transaction, we may recognize a gain or loss in connection with the divestiture related activities.

Other - These are discrete items that occur sporadically and can affect period-to-period comparisons. See footnote C to the reconciliation tables set forth below for additional details.

------

*European medical device regulation -* The European Union ("EU") has adopted the EU Medical Device Regulation ("MDR"), which replaces the existing Medical Devices Directive ("MDD") and imposes more stringent requirements for the marketing and sale of medical devices in the EU, including requirements affecting clinical evaluations, quality systems and post-market surveillance. The MDR requirements became effective in May 2021, although certain devices that previously satisfied MDD requirements can continue to be marketed in the EU until May 2024, subject to certain limitations. Significantly, the MDR will require the re-registration of previously approved medical devices. As a result, Teleflex will incur expenditures in connection with the new registration of medical devices that previously had been registered under the MDD. Therefore, these expenditures are not considered to be ordinary course expenditures in connection with regulatory matters (in contrast, no adjustment has been made to exclude expenditures related to the registration of medical devices that were not registered previously under the MDD).

*Intangible amortization expense -* Certain intangible assets, including customer relationships, intellectual property, distribution rights, trade names and non-competition agreements, initially are recorded at historical cost and then amortized over their respective estimated useful lives. The amount of such amortization can vary from period to period as a result of, among other things, business or asset acquisitions or dispositions.

*Tax adjustments -* These adjustments represent the impact of the expiration of applicable statutes of limitations for prior year returns, the resolution of audits, the filing of amended returns with respect to prior tax years and/or tax law or certain other discrete changes affecting our deferred tax liability.

 **Reconciliation of Consolidated Statement of Income Items (Dollars in millions, except per share data)**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Three Months Ended December 31, 2022** | **Three Months Ended December 31, 2022** | **Three Months Ended December 31, 2022** | **Three Months Ended December 31, 2022** | **Three Months Ended December 31, 2022** | **Three Months Ended December 31, 2022** | **Three Months Ended December 31, 2022** | **Three Months Ended December 31, 2022** | **Three Months Ended December 31, 2022** |
| | **Gross margin** | **Selling, general and administrative expenses (1)** | **Research and development expenses (1)** | **Operating margin (2)** | **Income before income taxes** | **Income tax expense** | **Effective income tax rate** | **Diluted earnings per share from continuing operations** |
| GAAP Basis | 55.7% | 30.8% | 5.6% | 17.0% | $109.4 | $31.3 | 28.6% | $1.65 |
| **Adjustments** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Restructuring, restructuring related and impairment items (A) | 1.2 |  |  | 3.5 | 26.9 | (6.3) |  | 0.70 |
| &nbsp;&nbsp;Acquisition, integration and divestiture related items (B) |  | (0.4) |  | 0.4 | 2.7 | 0.1 |  | 0.06 |
| &nbsp;&nbsp;Other items (C) |  | (0.1) |  | 0.1 | 1.1 | 0.3 |  | 0.02 |
| &nbsp;&nbsp;MDR |  |  | (1.3) | 1.4 | 10.3 |  |  | 0.22 |
| &nbsp;&nbsp;Intangible amortization expense | 3.1 | (2.4) |  | 5.5 | 42.2 | 2.3 |  | 0.84 |
| &nbsp;&nbsp;Tax adjustments |  |  |  |  |  | (1.4) |  | 0.03 |
| &nbsp;&nbsp;Adjustments total | 4.3 | (2.9) | (1.3) | 10.9 | 83.2 | (5.0) |  | 1.87 |
| **Adjusted basis** | **60.0%** | **27.9%** | **4.3%** | **27.9%** | **$192.6** | **$26.3** | **13.6%** | **$3.52** |

---

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Three Months Ended December 31, 2021** | **Three Months Ended December 31, 2021** | **Three Months Ended December 31, 2021** | **Three Months Ended December 31, 2021** | **Three Months Ended December 31, 2021** | **Three Months Ended December 31, 2021** | **Three Months Ended December 31, 2021** | **Three Months Ended December 31, 2021** | **Three Months Ended December 31, 2021** |
| | **Gross margin** | **Selling, general and administrative expenses (1)** | **Research and development expenses (1)** | **Operating margin (2)** | **Income before income taxes** | **Income tax expense** | **Effective income tax rate** | **Diluted earnings per share from continuing operations** |
| GAAP Basis | 55.1% | 29.9% | 4.7% | 20.4% | $143.3 | $15.8 | 11.0% | $2.69 |
| **Adjustments** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Restructuring, restructuring related and impairment items (A) | 1.1 | (0.2) |  | 1.4 | 10.5 | (0.1) |  | 0.22 |
| &nbsp;&nbsp;Acquisition, integration and divestiture related items (B) |  | 0.3 |  | (0.4) | (2.7) |  |  | (0.06) |
| &nbsp;&nbsp;Other items (C) | (0.3) |  |  | (0.3) | (2.2) | (0.6) |  | (0.03) |
| &nbsp;&nbsp;MDR |  |  | (1.1) | 1.1 | 8.7 |  |  | 0.18 |
| &nbsp;&nbsp;Intangible amortization expense | 2.9 | (2.4) |  | 5.4 | 40.8 | 4.6 |  | 0.76 |
| &nbsp;&nbsp;Tax adjustments |  |  |  |  |  | 7.7 |  | (0.16) |
| &nbsp;&nbsp;Adjustments total | 3.7 | (2.3) | (1.1) | 7.2 | 55.1 | 11.6 |  | 0.91 |
| **Adjusted basis** | **58.8%** | **27.6%** | **3.6%** | **27.6%** | **$198.4** | **$27.4** | **13.8%** | **$3.60** |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Year Ended December 31, 2022** | **Year Ended December 31, 2022** | **Year Ended December 31, 2022** | **Year Ended December 31, 2022** | **Year Ended December 31, 2022** | **Year Ended December 31, 2022** | **Year Ended December 31, 2022** | **Year Ended December 31, 2022** | **Year Ended December 31, 2022** |
| | **Gross margin** | **Selling, general and administrative expenses (1)** | **Research and development expenses (1)** | **Operating margin (2)** | **Income before income taxes** | **Income tax expense** | **Effective income tax rate** | **Diluted earnings per share from continuing operations** |
| GAAP Basis | 54.9% | 30.9% | 5.5% | 17.9% | $445.9 | $83.0 | 18.6% | $7.67 |
| **Adjustments** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Restructuring, restructuring related and impairment items (A) | 1.1 |  |  | 1.9 | 52.2 | (4.0) |  | 1.19 |
| &nbsp;&nbsp;Acquisition, integration and divestiture related items (B) |  | (0.2) |  | (0.1) | (1.8) | (1.3) |  | (0.01) |
| &nbsp;&nbsp;Other items (C) |  |  |  |  | 1.1 | 0.3 |  | 0.02 |
| &nbsp;&nbsp;MDR |  |  | (1.4) | 1.4 | 39.7 |  |  | 0.84 |
| &nbsp;&nbsp;Intangible amortization expense | 3.2 | (2.6) |  | 5.9 | 164.1 | 6.8 |  | 3.32 |
| &nbsp;&nbsp;Tax adjustments |  |  |  |  |  | (1.4) |  | 0.03 |
| &nbsp;&nbsp;Adjustments total | 4.3 | (2.8) | (1.4) | 9.1 | 255.3 | 0.4 |  | 5.39 |
| **Adjusted basis** | **59.2%** | **28.1%** | **4.1%** | **27.0%** | **$701.2** | **$83.4** | **11.9%** | **$13.06** |

---

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Year Ended December 31, 2021** | **Year Ended December 31, 2021** | **Year Ended December 31, 2021** | **Year Ended December 31, 2021** | **Year Ended December 31, 2021** | **Year Ended December 31, 2021** | **Year Ended December 31, 2021** | **Year Ended December 31, 2021** | **Year Ended December 31, 2021** |
| | **Gross margin** | **Selling, general and administrative expenses (1)** | **Research and development expenses (1)** | **Operating margin (2)** | **Income before income taxes** | **Income tax expense** | **Effective income tax rate** | **Diluted earnings per share from continuing operations** |
| GAAP Basis | 55.2% | 30.6% | 4.7% | 22.4% | $559.5 | $74.3 | 13.3% | $10.23 |
| **Adjustments** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Restructuring, restructuring related and impairment items (A) | 1.0 | (0.1) |  | 1.9 | 52.9 | 4.3 |  | 1.03 |
| &nbsp;&nbsp;Acquisition, integration and divestiture related items (B) | 0.1 | (0.4) |  | (2.7) | (75.7) | (14.6) |  | (1.29) |
| &nbsp;&nbsp;Other items (C) | (0.1) | 0.2 |  | (0.3) | 4.5 | 2.2 |  | 0.04 |
| &nbsp;&nbsp;MDR |  |  | (0.9) | 0.8 | 22.9 |  |  | 0.48 |
| &nbsp;&nbsp;Intangible amortization expense | 3.2 | (2.7) |  | 5.9 | 165.6 | 25.5 |  | 2.96 |
| &nbsp;&nbsp;Tax adjustments |  |  |  |  |  | 5.8 |  | (0.12) |
| &nbsp;&nbsp;Adjustments total | 4.2 | (3.0) | (0.9) | 5.6 | 170.2 | 23.2 |  | 3.10 |
| **Adjusted basis** | **59.4%** | **27.6%** | **3.8%** | **28.0%** | **$729.7** | **$97.5** | **13.4%** | **$13.33** |

---

Notes: (1) Selling, general and administrative expenses and research and development expenses are shown as a percentage of net revenues.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Operating margin defined as Income from continuing operations before interest, loss on extinguishment of debt and taxes as a percentage of net revenues.

Totals may not sum due to rounding.

**Tickmarks to Reconciliation Tables**

**(A)Restructuring, restructuring related and impairment items –** For the three months ended December 31, 2022, pre-tax restructuring charges were $17.3 million and restructuring related charges were $9.5 million. For the three months ended December 31, 2021, pre-tax restructuring charges were $1.3 million; and pre-tax restructuring related charges were $9.2 million. For the year ended December 31, 2022, pre-tax restructuring charges were $18.8 million, restructuring related charges were $31.9 million, and impairment charges were $1.5 million. For the year ended December 31, 2021, pre-tax restructuring charges were $15 million; pre-tax restructuring related charges were $31.2 million; and pre-tax impairment charges were $6.7 million.

**(B)Acquisition, integration and divestiture related items –** For the three months ended December 31, 2022, these charges related to the acquisition of Standard Bariatrics, Inc. For the three months ended December 31, 2021, these charges primarily related to the reversal of contingent consideration liabilities, charges related to our divestiture of certain respiratory assets, and charges related to a legal entity restructuring. For the year ended December 31, 2022, these charges related to the acquisition of Standard Bariatrics, Inc. and the gain related to a sale of a building. For the year ended December 31, 2021, these items primarily related to a net gain on our divestiture of certain respiratory assets, charges related to contingent consideration liabilities, charges incurred in connection with the Z-Medica, LLC acquisition, and a related legal entity restructuring.

**(C)Other –** For the three and twelve months ended December 31, 2022, other items related to charges incurred in connection with a debt extinguishment. For the three months ended December 31, 2021, other items related to the reversal of a contingent liability related to a foreign tax matter. For the year ended December 31, 2021, other items were related to charges incurred in connection with a debt extinguishment; the reversal of contingent liabilities related to tariffs and another foreign tax matter; and a benefit from a prior year tax matter.

------

**ABOUT TELEFLEX INCORPORATED**

Teleflex is a global provider of medical technologies designed to improve the health and quality of people's lives. We apply purpose driven innovation - a relentless pursuit of identifying unmet clinical needs - to benefit patients and healthcare providers. Our portfolio is diverse, with solutions in the fields of vascular access, interventional cardiology and radiology, anesthesia, emergency medicine, surgical, urology and respiratory care. Teleflex employees worldwide are united in the understanding that what we do every day makes a difference. For more information, please visit teleflex.com.

Teleflex is the home of Arrow<sup>®</sup>, Deknatel<sup>®</sup>, LMA<sup>®</sup>, Pilling<sup>®</sup>, QuikClot<sup>®</sup>, Rusch<sup>®</sup>, UroLift<sup>®</sup>, and Weck<sup>®</sup> - trusted brands united

by a common sense of purpose.

**CAUTION CONCERNING FORWARD-LOOKING INFORMATION**

This press release contains forward-looking statements, including, but not limited to, statements regarding our expectation that our acquisition of Standard Bariatrics will be accretive to our revenues and margins over time; forecasted 2022 GAAP and constant currency revenue growth and GAAP and adjusted diluted earnings per share; our estimates regarding the projected impact of foreign currency exchange rate fluctuations on our 2022 financial results; and our estimates with regard to the projected impacts of the divestiture of a significant portion of our respiratory business on our financial results. Actual results could differ materially from those in the forward-looking statements due to, among other things, delays or cancellations in shipments; demand for and market acceptance of new and existing products; our inability to provide products to our customers, which may be due to, among other things, events that impact key distributors, suppliers and third-party vendors that sterilize our products; our inability to integrate acquired businesses into our operations, realize planned synergies and operate such businesses profitably in accordance with our expectations; the inability of acquired businesses to generate revenues in accordance with our expectations; our inability to effectively execute our restructuring plans and programs; our inability to realize anticipated savings from restructuring plans and programs; the impact of healthcare reform legislation and proposals to amend, replace or repeal the legislation; changes in Medicare, Medicaid and third party coverage and reimbursements; the impact of enacted tax legislation and related regulations; competitive market conditions and resulting effects on revenues and pricing; increases in raw material costs that cannot be recovered in product pricing; global economic factors, including currency exchange rates, interest rates, trade disputes, sovereign debt issues and international conflicts and hostilities, such as the ongoing geopolitical conflict between Russia and Ukraine; public health epidemics, including the novel coronavirus (referred to as COVID-19); difficulties in entering new markets; general economic conditions; and other factors described or incorporated in our filings with the Securities and Exchange Commission, including our most recently filed Annual Report on Form 10-K. We expressly disclaim any obligation to update forward-looking statements, except as otherwise specifically stated by us or as required by law or regulation.

------

**TELEFLEX INCORPORATED**

**CONSOLIDATED STATEMENTS OF INCOME**

**(Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Twelve Months Ended** | **Twelve Months Ended** |
| | **December 31, 2022** | **December 31, 2021** | **December 31, 2022** | **December 31, 2021** |
| | **(Dollars and shares in thousands, except per share)** | **(Dollars and shares in thousands, except per share)** | **(Dollars and shares in thousands, except per share)** | **(Dollars and shares in thousands, except per share)** |
| &nbsp;&nbsp;&nbsp;Net revenues | $757996 | $761914 | $2791041 | $2809563 |
| Cost of goods sold | 335930 | 342182 | 1259954 | 1259961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gross profit | 422066 | 419732 | 1531087 | 1549602 |
| &nbsp;&nbsp;&nbsp;Selling, general and administrative expenses | 233375 | 227584 | 863748 | 860085 |
| &nbsp;&nbsp;&nbsp;Research and development expenses | 42755 | 35795 | 153819 | 130841 |
| Restructuring and impairment charges | 17349 | 1287 | 20299 | 21738 |
| Gain on sale of assets and business |  |  | (6504) | (91157) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income from continuing operations before interest, loss on extinguishment of debt and taxes | 128587 | 155066 | 499725 | 628095 |
| &nbsp;&nbsp;&nbsp;Interest expense | 19052 | 12011 | 54264 | 56969 |
| &nbsp;&nbsp;&nbsp;Interest income | (335) | (222) | (912) | (1328) |
| Loss on extinguishment of debt | 454 |  | 454 | 12986 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income from continuing operations before taxes | 109416 | 143277 | 445919 | 559468 |
| Taxes on income from continuing operations | 31303 | 15814 | 83003 | 74349 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income from continuing operations | 78113 | 127463 | 362916 | 485119 |
| Operating income (loss) from discontinued operations | 589 | 801 | 260 | 331 |
| Taxes (benefit) on operating loss from discontinued operations | 113 | 185 | 37 | 76 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income (loss) from discontinued operations | 476 | 616 | 223 | 255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income | $78589 | $128079 | $363139 | $485374 |
| Earnings per share: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income from continuing operations | $1.67 | $2.72 | $7.74 | $10.37 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income (loss) from discontinued operations | 0.01 | 0.01 |  | 0.01 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income | $1.68 | $2.73 | $7.74 | $10.38 |
| Diluted: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income from continuing operations | $1.65 | $2.69 | $7.67 | $10.23 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income (loss) from discontinued operations | 0.01 | 0.01 | 0.01 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income | $1.66 | $2.70 | $7.68 | $10.23 |
| Weighted average shares outstanding: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic | 46908 | 46849 | 46898 | 46774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted | 47226 | 47417 | 47309 | 47427 |

---

------

**TELEFLEX INCORPORATED**

**CONSOLIDATED BALANCE SHEETS**

**(Unaudited)**

---

| | | |
|:---|:---|:---|
| | **December 31, 2022** | **December 31, 2021** |
| | **(Dollars in thousands)** | **(Dollars in thousands)** |
| **ASSETS** | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Current assets |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $292034 | $445084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | 408834 | 383569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories | 578507 | 477643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 125084 | 117277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid taxes | 6524 | 5545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 1410983 | 1429118 |
| &nbsp;&nbsp;&nbsp;&nbsp;Property, plant and equipment, net | 447205 | 443758 |
| Operating lease assets | 131211 | 129653 |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill | 2536730 | 2504202 |
| &nbsp;&nbsp;&nbsp;&nbsp;Intangibles assets, net | 2306165 | 2289067 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred tax assets | 6402 | 6820 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other assets | 89367 | 69104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $6928063 | $6871722 |
| **LIABILITIES AND EQUITY** |  |  |
| Current liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current borrowings | $87500 | $110000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | 126807 | 118236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses | 140644 | 163441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payroll and benefit-related liabilities | 133092 | 143657 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued interest | 5332 | 5209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income taxes payable | 24736 | 83943 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other current liabilities | 63381 | 55633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 581492 | 680119 |
| &nbsp;&nbsp;&nbsp;&nbsp;Long-term borrowings | 1624023 | 1740102 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred tax liabilities | 388886 | 370124 |
| &nbsp;&nbsp;&nbsp;&nbsp;Pension and postretirement benefit liabilities | 31394 | 45185 |
| &nbsp;&nbsp;&nbsp;&nbsp;Noncurrent liability for uncertain tax positions | 5805 | 8646 |
| Noncurrent operating lease liabilities | 120437 | 116033 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other liabilities | 154058 | 156765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 2906095 | 3116974 |
| Commitments and contingencies |  |  |
| Shareholders' equity |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common shares, $1 par value Issued: 2022 — 47,957 shares; 2021 — 47,929 shares | 47957 | 47929 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital | 715118 | 693090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Retained earnings | 3817304 | 3517954 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive loss | (403522) | (346959) |
|  | 4176857 | 3912014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less: Treasury stock, at cost | 154889 | 157266 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total shareholders' equity | 4021968 | 3754748 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and shareholders' equity | $6928063 | $6871722 |

---

------

**TELEFLEX INCORPORATED**

**CONSOLIDATED STATEMENTS OF CASH FLOWS**

**(Unaudited)**

---

| | | |
|:---|:---|:---|
| | **Year Ended** | **Year Ended** |
| | **December 31, 2022** | **December 31, 2021** |
| | **(Dollars in thousands)** | **(Dollars in thousands)** |
| Cash flows from operating activities of continuing operations: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income | $363139 | $485374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjustments to reconcile net income to net cash provided by operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Income) loss from discontinued operations | (223) | (255) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation expense | 66502 | 71758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intangible asset amortization expense | 164088 | 165604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred financing costs and debt discount amortization expense | 4053 | 4493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss on extinguishment of debt | 454 | 12986 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fair value step up of acquired inventory sold |  | 3993 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Changes in contingent consideration | 2350 | 8475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assets impairment charges | 1497 | 6739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 27224 | 22937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain on sale of assets and business | (6504) | (91157) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes, net | (13008) | (110239) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payments for contingent consideration | (3016) | (230) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest benefit on swaps designated as net investment hedges | (20880) | (19296) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | (2906) | (36388) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Changes in operating assets and liabilities, net of effects of acquisitions and disposals: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable | (38459) | (600) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories | (110686) | (11138) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 13420 | (28410) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable, accrued expenses and other liabilities | (24786) | 94020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income taxes | (79453) | 73473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by operating activities from continuing operations | 342806 | 652139 |
| Cash flows from investing activities of continuing operations: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expenditures for property, plant and equipment | (79190) | (71618) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payments for businesses and intangibles acquired, net of cash acquired | (198429) | (4590) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from sales of business and assets | 12434 | 224909 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest proceeds on swaps designated as net investment hedges | 20775 | 19154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from sales of investments | 7300 | 7300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchase of investments | (22300) | (18418) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash (used in) provided by investing activities from continuing operations | (259410) | 156737 |
| Cash flows from financing activities of continuing operations: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from new borrowings | 744250 | 400000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reduction in borrowings | (884500) | (1034500) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Debt extinguishment, issuance and amendment fees | (5200) | (9774) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net proceeds from share based compensation plans and the related tax impacts | (4308) | 12451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payments for contingent consideration | (3959) | (31448) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividends paid | (63789) | (63648) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from sale of treasury stock |  | 11097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash (used in) provided by financing activities from continuing operations | (217506) | (715822) |
| Cash flows from discontinued operations: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used in operating activities | (665) | (720) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by investing activities | 1469 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by (used in) discontinued operations | 804 | (720) |
| &nbsp;&nbsp;Effect of exchange rate changes on cash and cash equivalents | (19744) | (23130) |
| &nbsp;&nbsp;Net (decrease) increase in cash and cash equivalents | (153050) | 69204 |
| &nbsp;&nbsp;Cash and cash equivalents at the beginning of the year | 445084 | 375880 |
| &nbsp;&nbsp;Cash and cash equivalents at the end of the year | $292034 | $445084 |

---

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**Contacts:**

Teleflex Incorporated:

Lawrence Keusch

Vice President, Investor Relations and Strategy Development

John Hsu, CFA

Vice President, Investor Relations

investors.teleflex.com

610-948-2836

## Exhibit 99.2

![](exhibit992to2-23x20238xk001.jpg)

Fourth Quarter 2022 Earnings Conference Call Teleflex Incorporated Exhibit 99.2

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![](exhibit992to2-23x20238xk002.jpg)

2 The release, accompanying slides, and replay webcast are available online at www.teleflex.com (click on Investors) An audio replay of the call will be available beginning at 11:00 am Eastern Time on February 23, 2023 either on the Teleflex website or by telephone. The call can be accessed by dialing 1 866 813 9403 (U.S.) or +44 204 525 0658 (all other locations). The confirmation code is 903856. Conference Call Logistics

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![](exhibit992to2-23x20238xk003.jpg)

3 Today's Speakers Liam Kelly Chairman, President and CEO Lawrence Keusch VP, Investor Relations and Strategy Development Thomas Powell Executive VP and CFO

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![](exhibit992to2-23x20238xk004.jpg)

4 This presentation contains forward-looking statements, including, but not limited to our expectation that momentum with respect to our launch of the UroLift System in Japan will continue into 2023; our forecasted 2023 GAAP and constant currency revenue growth, GAAP and adjusted gross and operating margins and GAAP and adjusted earnings per share and, in each case, our estimates with respect to the items expected to impact those forecasted results; our expectation that procedure momentum will build into 2023; and other matters which inherently involve risks and uncertainties which could cause actual results to differ from those projected or implied in the forward–looking statements. These risks and uncertainties are addressed in our SEC filings, including our most recent Form 10-K. We expressly disclaim any obligation to update forward-looking statements, except as otherwise specifically stated by us or as required by law or regulation. Note on Forward-Looking Statements Note on Non-GAAP Financial Measures Additional Notes Unless otherwise noted, the following slides reflect continuing operations. This document contains certain highlights with respect to our fourth quarter 2022 and developments and does not purport to be a complete summary thereof. Accordingly, we encourage you to read our Earnings Release for the quarter ended December 31, 2022 located in the investor section of our website at www.teleflex.com and our Annual Report on Form 10-K for the year ended December 31, 2022 to be filed with the Securities and Exchange Commission.

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![](exhibit992to2-23x20238xk005.jpg)

5 Liam Kelly - Chairman, President and CEO Executive Overview

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![](exhibit992to2-23x20238xk006.jpg)

6 Q4'22 Highlights ◦ Q4'22 constant currency revenue grew 3.7% year-over-year, including impact of a 60bp decline in MSTA revenue associated with respiratory divestiture ◦ Q4'22 constant currency revenue included strong performances from Interventional, Surgical, and OEM ◦ Q4'22 adjusted EPS was $3.52, a ~2% decline year-over-year, including headwinds from incremental inflation and FX Q4 Performance Summary 2023 Financial Guidance Note: See tables appearing in this presentation and the appendices hereto for reconciliations of non-GAAP financial information. ◦ Establishing 2023 constant currency revenue growth guidance of 4.75% to 6.25% ◦ Setting 2023 adjusted earnings per share guidance of $13.00 to $13.60

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![](exhibit992to2-23x20238xk007.jpg)

7 Q4'22 Segment Revenue Review Three Months Ended % Increase/ Decrease Dollars in Millions December 31, 2022 December 31, 2021 Reported Revenue Growth Currency Impact Constant Currency Growth Americas $458.0 $451.7 1.4% (0.3)% 1.7%1 EMEA $147.8 $164.5 (10.2)% (11.6)% 1.4% Asia $78.5 $78.5 0.0% (13.3)% 13.3% OEM $73.7 $67.2 9.7% (2.3)% 12.0% Consolidated $758.0 $761.9 (0.5)% (4.2)% 3.7%2 (1) Includes the impact of a 1.0% decline in revenue from products sold to Medline pursuant to the manufacturing and supply transition agreement executed in June of 2021 compared to the prior year period. (2) Includes the impact of a 0.6% decline in revenue from products sold to Medline pursuant to the manufacturing and supply transition agreement executed in June of 2021 compared to the prior year period.

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![](exhibit992to2-23x20238xk008.jpg)

8 Q4'22 Global Product Category Revenue Review Three Months Ended % Increase/ Decrease Dollars in Millions December 31, 2022 December 31, 2021 Reported Revenue Growth Currency Impact Constant Currency Growth Vascular Access $186.4 $193.0 (3.4)% (3.9)% 0.5% Interventional $125.1 $114.9 8.8% (4.6)% 13.4% Anesthesia $99.6 $102.8 (3.1)% (5.1)% 2.0% Surgical $110.4 $106.4 3.9% (6.5)% 10.4% Interventional Urology $89.2 $92.9 (4.1)% (0.5)% (3.6)% OEM $73.7 $67.2 9.7% (2.3)% 12.0% Other(1) $73.6 $84.7 (13.1)% (6.0)% (7.1)% Consolidated $758.0 $761.9 (0.5)% (4.2)% 3.7% ◦ 1. Includes revenues generated from sales of the Company's respiratory and urology products (other than interventional urology products). (1) Includes revenues generated from the Company's respiratory and urology products (other than interventional urology products), and products sold to Medline pursuant to the manufacturing and supply transition agreement executed in June of 2021.

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![](exhibit992to2-23x20238xk009.jpg)

9 Clinical and Commercial Updates Encouraging Progress with Surgical Stapling • Integration activities on track with Standard Bariatrics • Teleflex awarded a group purchasing agreement with Premier for the Titan SGS® Stapler Japan Commercial Progress for UroLift® System • 2022 revenue exceeded our expectations • See momentum continuing into 2023 China Commercial Progress for UroLift® System • On track with early market development activities • Limited commercial launch, with first cases performed in Q4 across key cities alongside urological society engagement

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![](exhibit992to2-23x20238xk010.jpg)

10 Thomas Powell - Executive VP and CFO Financial Overview

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![](exhibit992to2-23x20238xk011.jpg)

11 Q4'22 Financial Review ◦ GAAP gross margin of 55.7% vs. 55.1% in the prior year period ◦ Adjusted gross margin of 60.0%, up 120 bps year-over-year ◦ GAAP operating margin of 17.0% vs. 20.4% in prior year period ◦ Adjusted operating margin of 27.9%, up 30 bps year-over-year Gross margin Operating margin Global revenue growth ◦ GAAP tax rate of 28.6% vs. 11.0% in prior year period ◦ Adjusted tax rate of 13.6% vs. 13.8% in prior year period Effective tax rate ◦ GAAP EPS of $1.65 vs. $2.69 in prior year period ◦ Adjusted EPS of $3.52, down 2.2% year-over-year Earnings per share ◦ Revenue decreased 0.5% year-over-year on a GAAP basis ◦ Revenue increased 3.7% year-over-year on a constant currency basis Note: See appendices for reconciliations of non-GAAP financial information.

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![](exhibit992to2-23x20238xk012.jpg)

12 2023 Financial Guidance Summary 2023 Guidance Low High GAAP Revenue Growth 4.25% 5.75% Impact of Foreign Exchange Rate Fluctuations (0.50)% (0.50)% Constant Currency Revenue Growth (1) 4.75% 6.25% Adjusted Gross Margin 59.00% 59.50% Adjusted Operating Margin 26.00% 26.75% Adjusted EPS $13.00 $13.60 Adjusted EPS % Growth (0.5)% 4.1% Note: See appendices for reconciliations of non-GAAP information (1) Constant currency growth includes a 0.30% headwind for the an expected decrease in MSTA revenue associated with the divestiture of the respiratory assets. Note: See appendices for reconciliations of non-GAAP financial information.

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![](exhibit992to2-23x20238xk013.jpg)

13 Key Takeaways Q4 results reflect the stability of our diversified product portfolio, and our revenue progression during the quarter builds confidence that procedure momentum will build into 2023 2023 financial guidance reflects an improving macro backdrop, durable revenue outlook, and continued investment in growth drivers Will continue to execute on our strategy to drive durable growth with investment in organic growth opportunities, margin expansion, and seek to deploy capital for M&A

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![](exhibit992to2-23x20238xk014.jpg)

14 14 14 Thank You Teleflex, the Teleflex logo, are trademarks or registered trademarks of Teleflex Incorporated or its affiliates, in the U.S. and/or other countries.© 2023 Teleflex Incorporated. All rights reserved. MCI-2021-0563.

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![](exhibit992to2-23x20238xk015.jpg)

15 Appendices

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![](exhibit992to2-23x20238xk016.jpg)

16 Non-GAAP Financial Measures The presentation to which these appendices are attached and the following appendices include, among other things, tables reconciling the following applicable non-GAAP financial measures to the most comparable GAAP financial measure: ◦ Constant currency revenue growth. This non-GAAP measure is based upon net revenues, adjusted to eliminate the impact of translating the results of international subsidiaries at different currency exchange rates from period to period. The impact of changes in foreign currency may vary significantly from period to period, and generally are outside of the control of our management. We believe that this measure facilitates a comparison of our operating performance exclusive of currency exchange rate fluctuations that do not reflect our underlying performance or business trends. ◦ Adjusted diluted earnings per share. This non-GAAP measure is based upon diluted earnings per share from continuing operations, the most directly comparable GAAP measure, adjusted to exclude, depending on the period presented, the impact of (i) restructuring, restructuring related and impairment items; (ii) acquisition, integration and divestiture related items; (iii) "other items" identified in note (C) to the reconciliation tables appearing in Appendices A1, A2, A3, and A4, as applicable; (iv) certain costs associated with the registration of medical devices under the European Union Medical Device Regulation; (v) intangible amortization expense; and (vi) tax adjustments. Management does not believe that any of the excluded items are indicative of our underlying core performance or business trends. ◦ Adjusted gross profit and margin. These measures exclude, depending on the period presented, the impacts of (i) restructuring, restructuring related and impairment items, (ii) acquisition, integration and divestiture related items and (iii) "other items" identified in note (C) to the reconciliation tables appearing in Appendices A1, A2, A3, and A4, as applicable. ◦ Adjusted operating profit and margin. These measures exclude, depending on the period presented, the impact of (i) restructuring, restructuring related and impairment items; (ii) acquisitions, integration and divestiture related items; (iii) "other items" identified in note (C) to the reconciliation tables appearing in Appendices A1, A2, A3, and A4, as applicable; (iv) intangible amortization expense; and (v) certain costs associated with the registration of medical devices under the European Union Medical Device Regulation. ◦ Adjusted tax rate. This measure is the percentage of the Company's adjusted taxes on income from continuing operations to its adjusted income from continuing operations before taxes. Adjusted taxes on income from continuing operations excludes, depending on the period presented, the impact of tax benefits or costs associated with (i) restructuring, restructuring related and impairment items; (ii) acquisition, integration and divestiture related items; (iii) "other items" identified in note (C) to the reconciliation tables appearing in Appendices A1, A2, A3, and A4, as applicable; (iv) certain costs associated with the registration of medical devices under the European Union Medical Device Regulation; (v) intangible amortization expense; and (vi) tax adjustments.

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![](exhibit992to2-23x20238xk017.jpg)

17 Non-GAAP Adjustments The following is an explanation of certain of the adjustments that are applied with respect to one or more of the non-GAAP financial measures that appear in the presentation to which these appendices are attached: Restructuring, restructuring related and impairment items - Restructuring programs involve discrete initiatives designed to, among other things, consolidate or relocate manufacturing, administrative and other facilities, outsource distribution operations, improve operating efficiencies and integrate acquired businesses. Depending on the specific restructuring program involved, our restructuring charges may include employee termination, contract termination, facility closure, employee relocation, equipment relocation, outplacement and other exit costs associated with the restructuring program. Restructuring related charges are directly related to our restructuring programs and consist of facility consolidation costs, including accelerated depreciation expense related to facility closures, costs to transfer manufacturing operations between locations, and retention bonuses offered to certain employees as an incentive for them to remain with our company after completion of the restructuring program. Impairment charges occur if, due to events or changes in circumstances, we determine that the carrying value of an asset exceeds its fair value. Impairment charges do not directly affect our liquidity, but could have a material adverse effect on our reported financial results. Acquisition, integration and divestiture related items - Acquisition and integration expenses are incremental charges, other than restructuring or restructuring related expenses, that are directly related to specific business or asset acquisition transactions. These charges may include, among other things, professional, consulting and other fees; systems integration costs; legal entity restructuring expense; inventory step-up amortization (amortization, through cost of goods sold, of the increase in fair value of inventory resulting from a fair value calculation as of the acquisition date); fair value adjustments to contingent consideration liabilities; and bridge loan facility and backstop financing fees in connection with loan facilities that ultimately were not utilized. Divestiture related activities involve specific business or asset sales. Depending primarily on the terms of a divestiture transaction, the carrying value of the divested business or assets on our financial statements and other costs we incur as a direct result of the divestiture transaction, we may recognize a gain or loss in connection with the divestiture related activities. Other items - These are discrete items that occur sporadically and can affect period-to-period comparisons. European medical device regulation - The European Union ("EU") has adopted the EU Medical Device Regulation ("MDR"), which replaces the existing Medical Devices Directive ("MDD") and imposes more stringent requirements for the marketing and sale of medical devices in the EU, including requirements affecting clinical evaluations, quality systems and post-market surveillance. Manufacturers of currently marketed medical devices had until May 2020 to meet the MDR requirements, although certain devices that previously satisfied MDD requirements can continue to be placed on the EU market until May 2024, subject to certain limitations. Significantly, the MDR will require the re-registration of previously approved medical devices. As a result, Teleflex will incur expenditures in connection with the new registration of medical devices that previously had been registered under the MDD. Therefore, these expenditures are not considered to be ordinary course expenditures in connection with regulatory matters (in contrast, no adjustment has been made to exclude expenditures related to the registration of medical devices that were not registered previously under the MDD).

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![](exhibit992to2-23x20238xk018.jpg)

18 Non-GAAP Adjustments Intangible amortization expense - Certain intangible assets, including customer relationships, intellectual property, distribution rights, trade names and non-competition agreements, initially are recorded at historical cost and then amortized over their respective estimated useful lives. The amount of such amortization can vary from period to period as a result of, among other things, business or asset acquisitions or dispositions. Tax adjustments - These adjustments represent the impact of the expiration of applicable statutes of limitations for prior year returns, the resolution of audits, the filing of amended returns with respect to prior tax years and/or tax law or certain other discrete changes affecting our deferred tax liability.

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![](exhibit992to2-23x20238xk019.jpg)

19 Notes: (1) Selling, general and administrative expenses and research and development expenses are shown as a percentage of net revenues. (2) Operating margin defined as Income from continuing operations before interest, loss on extinguishment of debt and taxes as a percentage of net revenues. See slide titled Non-GAAP Adjustments included at the beginning of the appendices to this presentation for Non-GAAP definitions. Totals may not sum due to rounding. Appendix A1 – Reconciliation of Consolidated Statement of Income Items (Dollars in millions, except per share data) Three Months Ended December 31, 2022 Gross margin Selling, general and administrative expenses (1) Research and development expenses (1) Operating margin (2) Income before income taxes Income tax expense Effective income tax rate Diluted earnings per share from continuing operations GAAP Basis 55.7% 30.8% 5.6% 17.0% $109.4 $31.3 28.6% $1.65 Adjustments Restructuring, restructuring related and impairment items (A) 1.2 — — 3.5 26.9 (6.3) 0.70 Acquisition, integration and divestiture related items (B) — (0.4) — 0.4 2.7 0.1 0.06 Other items (C) — (0.1) — 0.1 1.1 0.3 0.02 MDR — — (1.3) 1.4 10.3 — 0.22 Intangible amortization expense 3.1 (2.4) — 5.5 42.2 2.3 0.84 Tax adjustments — — — — — (1.4) 0.03 Adjustments total 4.3 (2.9) (1.3) 10.9 83.2 (5.0) 1.87 Adjusted basis 60.0% 27.9% 4.3% 27.9% $192.6 $26.3 13.6% $3.52

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![](exhibit992to2-23x20238xk020.jpg)

20 Appendix A2 – Reconciliation of Consolidated Statement of Income Items (Dollars in millions, except per share data) Three Months Ended December 31, 2021 Gross margin Selling, general and administrative expenses (1) Research and development expenses (1) Operating margin (2) Income before income taxes Income tax expense Effective income tax rate Diluted earnings per share from continuing operations GAAP Basis 55.1% 29.9% 4.7% 20.4% $143.3 $15.8 11.0% $2.69 Adjustments Restructuring, restructuring related and impairment items (A) 1.1 (0.2) — 1.4 10.5 (0.1) 0.22 Acquisition, integration and divestiture related items (B) — 0.3 — (0.4) (2.7) — (0.06) Other items (C) (0.3) — — (0.3) (2.2) (0.6) (0.03) MDR — — (1.1) 1.1 8.7 — 0.18 Intangible amortization expense 2.9 (2.4) — 5.4 40.8 4.6 0.76 Tax adjustments — — — — — 7.7 (0.16) Adjustments total 3.7 (2.3) (1.1) 7.2 55.1 11.6 0.91 Adjusted basis 58.8% 27.6% 3.6% 27.6% $198.4 $27.4 13.8% $3.60 Notes: (1) Selling, general and administrative expenses and research and development expenses are shown as a percentage of net revenues. (2) Operating margin defined as Income from continuing operations before interest, loss on extinguishment of debt and taxes as a percentage of net revenues. See slide titled Non-GAAP Adjustments included at the beginning of the appendices to this presentation for Non-GAAP definitions. Totals may not sum due to rounding.

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![](exhibit992to2-23x20238xk021.jpg)

21 Appendix A3 – Reconciliation of Consolidated Statement of Income Items (Dollars in millions, except per share data) Year Ended December 31, 2022 Gross margin Selling, general and administrative expenses (1) Research and development expenses (1) Operating margin (2) Income before income taxes Income tax expense Effective income tax rate Diluted earnings per share from continuing operations GAAP Basis 54.9% 30.9% 5.5% 17.9% $445.9 $83.0 18.6% $7.67 Adjustments Restructuring, restructuring related and impairment items (A) 1.1 — — 1.9 52.2 (4.0) 1.19 Acquisition, integration and divestiture related items (B) — (0.2) — (0.1) (1.8) (1.3) (0.01) Other items (C) — — — — 1.1 0.3 0.02 MDR — — (1.4) 1.4 39.7 — 0.84 Intangible amortization expense 3.2 (2.6) — 5.9 164.1 6.8 3.32 Tax adjustments — — — — — (1.4) 0.03 Adjustments total 4.3 (2.8) (1.4) 9.1 255.3 0.4 5.39 Adjusted basis 59.2% 28.1% 4.1% 27.0% $701.2 $83.4 11.9% $13.06 Notes: (1) Selling, general and administrative expenses and research and development expenses are shown as a percentage of net revenues. (2) Operating margin defined as Income from continuing operations before interest, loss on extinguishment of debt and taxes as a percentage of net revenues. See slide titled Non-GAAP Adjustments included at the beginning of the appendices to this presentation for Non-GAAP definitions. Totals may not sum due to rounding.

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![](exhibit992to2-23x20238xk022.jpg)

22 Appendix A4 – Reconciliation of Consolidated Statement of Income Items (Dollars in millions, except per share data) Year Ended December 31, 2021 Gross margin Selling, general and administrative expenses (1) Research and development expenses (1) Operating margin (2) Income before income taxes Income tax expense Effective income tax rate Diluted earnings per share from continuing operations GAAP Basis 55.2% 30.6% 4.7% 22.4% $559.5 $74.3 13.3% $10.23 Adjustments Restructuring, restructuring related and impairment items (A) 1.0 (0.1) — 1.9 52.9 4.3 1.03 Acquisition, integration and divestiture related items (B) 0.1 (0.4) — (2.7) (75.7) (14.6) (1.29) Other items (C) (0.1) 0.2 — (0.3) 4.5 2.2 0.04 MDR — — (0.9) 0.8 22.9 — 0.48 Intangible amortization expense 3.2 (2.7) 5.9 165.6 25.5 2.96 Tax adjustments — — — — — 5.8 (0.12) Adjustments total 4.2 (3.0) (0.9) 5.6 170.2 23.2 3.10 Adjusted basis 59.4% 27.6% 3.8% 28.0% $729.7 $97.5 13.4% $13.33 Notes: (1) Selling, general and administrative expenses and research and development expenses are shown as a percentage of net revenues. (2) Operating margin defined as Income from continuing operations before interest, loss on extinguishment of debt and taxes as a percentage of net revenues. See slide titled Non-GAAP Adjustments included at the beginning of the appendices to this presentation for Non-GAAP definitions. Totals may not sum due to rounding.

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![](exhibit992to2-23x20238xk023.jpg)

23 Appendix A tickmarks (A) Restructuring, restructuring related and impairment items – For the three months ended December 31, 2022, pre-tax restructuring charges were $17.3 million and restructuring related charges were $9.5 million. For the three months ended December 31, 2021, pre-tax restructuring charges were $1.3 million and pre-tax restructuring related charges were $9.2 million. For the year ended December 31, 2022, pre-tax restructuring charges were $18.8 million, restructuring related charges were $31.9 million, and impairment charges were $1.5 million. For the year ended December 31, 2021, pre-tax restructuring charges were $15 million, pre-tax restructuring related charges were $31.2 million, and pre-tax impairment charges were $6.7 million. (B) Acquisition, integration and divestiture related items – For the three months ended December 31, 2022, these charges related to the acquisition of Standard Bariatrics, Inc. For the three months ended December 31, 2021, these charges primarily related to the reversal of contingent consideration liabilities, charges related to our divestiture of certain respiratory assets, and charges related to a legal entity restructuring. For the year ended December 31, 2022, these charges related to the acquisition of Standard Bariatrics, Inc. and the gain related to a sale of a building. For the year ended December 31, 2021, these items primarily related to a net gain on our divestiture of certain respiratory assets, charges related to contingent consideration liabilities, charges incurred in connection with the Z-Medica, LLC acquisition, and a related legal entity restructuring. (C) Other – For the three and twelve months ended December 31, 2022, other items related to charges incurred in connection with a debt extinguishment. For the three months ended December 31, 2021, other items related to the reversal of a contingent liability related to a foreign tax matter. For the year ended December 31, 2021, other items related to charges incurred in connection with a debt extinguishment, the reversal of contingent liabilities related to tariffs and another foreign tax matter and a benefit from a prior year tax matter.

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![](exhibit992to2-23x20238xk024.jpg)

24 Appendix B - 2023 Adj. Gross and Operating Margin Guidance Reconciliation Low High Forecasted GAAP Gross Margin 55.10% 55.60% Estimated restructuring, restructuring related and impairment items 0.80% 0.80% Estimated acquisition, integration, and divestiture related items —% —% Estimated intangible amortization expense 3.10% 3.10% Forecasted Adjusted Gross Margin 59.00% 59.50% Low High Forecasted GAAP Operating Margin 17.90% 18.65% Estimated restructuring, restructuring related and impairment items 1.00% 1.00% Estimated acquisition, integration, and divestiture related items 0.40% 0.40% Estimated other items 0.10% 0.10% Estimated MDR 1.00% 1.00% Estimated intangible amortization expense 5.60% 5.60% Forecasted Adjusted Operating Margin 26.00% 26.75%

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![](exhibit992to2-23x20238xk025.jpg)

25 Appendix C – Reconciliation of 2023 Adjusted Earnings Per Share Guidance Low High Forecasted GAAP Diluted Earnings Per Share from continuing operations $8.26 $8.86 Estimated restructuring, restructuring related and impairment items, net of tax $0.55 $0.55 Estimated acquisition, integration, and divestiture related items, net of tax $0.18 $0.18 Estimated other items, net of tax $0.05 $0.05 Estimated MDR, net of tax $0.65 $0.65 Estimated intangible amortization expense, net of tax $3.31 $3.31 Forecasted Adjusted Diluted Earnings Per Share from continuing operations, net of tax $13.00 $13.60

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![](exhibit992to2-23x20238xk026.jpg)

26 2022 Segment Revenue Review Three Months Ended % Increase/ Decrease Dollars in Millions December 31, 2022 December 31, 2021 Reported Revenue Growth Currency Impact Constant Currency Growth Americas $1,653.7 $1,659.3 (0.3)% (0.2)% (0.1%)1 EMEA $558.4 $606.8 (8.0)% (10.8)% 2.8% Asia $306.3 $297.8 2.9% (8.9)% 11.8% OEM $272.6 $245.7 11.0% (2.4)% 13.4% Consolidated $2,791.0 $2,809.6 (0.7)% (3.6)% 2.9%2 (1) Includes the impact of a 0.8% decline in revenue from products sold to Medline pursuant to the manufacturing and supply transition agreement executed in June of 2021 compared to the prior year period. (2) Includes the impact of a 1.1% decline in revenue from products sold to Medline pursuant to the manufacturing and supply transition agreement executed in June of 2021 compared to the prior year period.

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![](exhibit992to2-23x20238xk027.jpg)

27 2022 Global Product Category Revenue Review Three Months Ended % Increase/ Decrease Dollars in Millions December 31, 2022 December 31, 2021 Reported Revenue Growth Currency Impact Constant Currency Growth Vascular Access $683.6 $700.2 (2.4)% (3.3)% 0.9% Interventional $445.0 $427.5 4.1% (3.5)% 7.6% Anesthesia $388.9 $380.1 2.3% (4.5)% 6.8% Surgical $392.9 $377.8 4.0% (5.1)% 9.1% Interventional Urology $322.8 $341.7 (5.5)% (0.3)% (5.2)% OEM $272.6 $245.7 11.0% (2.4)% 13.4% Other(1) $285.2 $336.6 (15.3)% (5.4)% (9.9)% Consolidated $2,791.0 $2,809.6 (0.7)% (3.6)% 2.9% ◦ 1. Includes revenues generated from sales of the Company's respiratory and urology products (other than interventional urology products). (1) Includes revenues generated from the Company's respiratory and urology products (other than interventional urology products), and products sold to Medline pursuant to the manufacturing and supply transition agreement executed in June of 2021.

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![](exhibit992to2-23x20238xk028.jpg)

28 2022 Financial Review ◦ GAAP gross margin of 54.9% vs. 55.2% in the prior year period ◦ Adjusted gross margin of 59.2%, down 20 bps year-over-year ◦ GAAP operating margin of 17.9% vs. 22.4% in prior year period ◦ Adjusted operating margin of 27.0%, down 100 bps year-over-year Gross margin Operating margin Global revenue growth ◦ GAAP tax rate of 18.6% vs. 13.3% in prior year period ◦ Adjusted tax rate of 11.9% vs. 13.4% in prior year period Effective tax rate ◦ GAAP EPS of $7.67 vs. $10.23 in prior year period ◦ Adjusted EPS of $13.06, down 2.0% year-over-year Earnings per share ◦ Revenue decreased (0.7)% year-over-year on a GAAP basis ◦ Revenue increased 2.9% year-over-year on a constant currency basis Note: See appendices for reconciliations of non-GAAP financial information.

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