Q May 10, Tom Rönnlund, CEO

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1 Q May 10, 2017 Tom Rönnlund, CEO

2 AGENDA Agenda Q1 highlights and financials Pharma & Healthcare commercial update Medtech commercial update Outlook Navamedic 2

3 Q1 HIGHLIGHTS Q1 Highlights and Financials Navamedic reported revenues of NOK 78.2 million in Q1 2017, up from NOK 60.8 million in Q1 2016, representing a 28.6% growth EBITDA of NOK 3.3 million in the quarter (NOK 2.1 million in Q1 2016) Secured European patent for Sippcoat for use of silicone oil in urine handling systems Distribution of Imdur expanded to the UK, Ireland, Malta, Cyprus, bringing the distribution to a total of thirteen markets across Europe (NOK million) Q Q Revenue Gross profit EBITDA EBIT Result before tax Agreement with Orexigen Therapeutics to launch and commercialise the prescription obesity treatment, Mysimba, in the Nordic region, announced post quarter Navamedic 3

About Navamedic A growth-oriented, risk-balanced Norwegian medtech and pharmaceutical company, marketing and distributing healthcare and pharma products, as well as innovative medtech technologies

benefit patients and healthcare professionals Well-established market position and track record, main focus on Nordic region Strategic partnership and distribution agreements providing cash flow and

4 About Navamedic A growth-oriented, risk-balanced Norwegian medtech and pharmaceutical company, marketing and distributing healthcare and pharma products, as well as innovative medtech technologies PHARMA & HEALTHCARE Marketing and distribution of pharmaceuticals, non-prescription drugs and healthcare products MEDTECH Navamedic Medtech s vision is to develop innovative technology products that benefit patients and healthcare professionals Well-established market position and track record, main focus on Nordic region Strategic partnership and distribution agreements providing cash flow and margins Currently selling, marketing and distributing more than 80 pharma- and healthcare brands. Products are sold to hospitals, through pharmacies and directly to medical professionals Global potential for next generation digital urine measurement, the Sippi product family Innovative, patented technology addressing a global market need Ongoing commercialisation with multiple future revenue streams and significant annual long-term revenue opportunity Navamedic 4

5 Profit and Loss Statement (NOK million) Q Q FY 2016 Revenue Gross profit Gross margin 22.1% 28.0% 25.5% Operating costs EBITDA EBITDA margin 4.2% 3.4% 2.9% EBIT Net profit Navamedic 5

6 Balance Sheet (NOK million) Q Q FY 2016 Non-current assets Current assets of which is cash and cash equivalents Equity Long-term liabilities Short-term liabilities Total balance Equity ratio (%) 35.6% 38.6% 36.8% Navamedic 6

7 Cash flow statement (NOK million) Q Q Profit (loss) before tax Net cash from operations Net cash from investments Net cash from financing Net currency effects Net change in cash during period Cash at end of period Navamedic 7

8 Pharma & Healthcare Commercial Update Segment revenues of NOK 78.1 million in the quarter, up from NOK 60.5 million in Q1 2016, representing 29.1% growth Sales growth largely driven by Imdur, added to the portfolio in fall Imdur launched in four additional countries - UK, Ireland, Malta and Cyprus. Now distributed in thirteen markets across Europe by Navamedic Quarterly gross margin of 22.3%, compared to 28.1% in Q1 2016, due to changes in the product mix (NOK million) Q Q Revenue Gross profit EBITDA EBITDA margin 7.1% 7.0% Continued activities for portfolio of new products added in 2016, including Imdur, Nitrolingual, Woulgan. All introductions progressing well and according to plan Focus on developing new and additional strategic partnerships and exploring new products and markets Navamedic 8

9 Pharma & Healthcare Product Portfolio Imdur recorded sales of NOK 17.3 million in Q1 2017, making it Navamedic s largest single brand. The Medical Nutrition portfolio continued strong revenue growth in the first quarter, 30% higher revenues, compared to Q Active growth strategy: driving organic growth in existing portfolio coupled with strategic inflow of new products and partnerships NYDA, head-lice treatment sold in pharmacies, had 24.5% revenue growth in the quarter, compared to Q Uracyst, treatment for painful bladder syndrome, 17.4% revenue growth, compared to Q Nitrolingual grew by 53% compared to Q Favourable compare due to Denmark sales initiated in H Woulgan - sales at low levels. Focus on ensuring inclusion in regional tenders Navamedic 9

10 Medtech: Sippi Developments Continued development and commercialisation activities in the quarter. Navamedic gained commitment from four hospitals initiating patient tests with Sippi -BLE (low-energy Bluetooth) and Centricity patient data monitoring system (PDMS) from GE Healthcare. Also completed successful connectivity tests to Metavision PDMS at Uppsala University Hospital in Sweden First clinical implementations expected during Q Expansion of Sippi geographical footprint according to plan. Tested in Austria and Italy during the quarter, resulting in new customers and distribution agreement with leading distributor, SIM Italia. (NOK million) Q Q Revenue EBITDA Granted patent for Sippcoat, securing the use of silicone oil in urine handling systems in the EU Navamedic 10

11 The Sippi Portfolio The Sippi portfolio - family of innovative products with global market potential. Multiple products, multiple potential revenue streams: Sippi : digital urine measurement First available solution for fully digitalized fluid balance measurement Sippcoat : biofilm prevention Patented technology preventing the build-up of biofilm in the Sippi system Sippbag : allowing use of Sippi in various care situations Follows the patient in all clinical settings with no need for disconnection Sipplink : innovative communication tool Wireless connectivity and data transfer to the most common PDMS systems on the market under development currently in tests with two PDMS suppliers Navamedic 11

12 Setting the stage for accelerated Sippi growth Based on the promising Q1 developments and the multimarket growth platform for Sippi, Navamedic expects to enter onto an accelerated growth path towards the long-term annual revenue potential of over NOK 250 million: 1. Leading technology Q1 development: Sippi -BLE (low-energy Bluetooth) ready for clinical tests. Successfully tested connectivity to various Patient Data Monitoring Systems 2. Strong partnerships Q1 development: Secured commitment from four hospitals to initiate patient tests with Sippi -BLE. Signed distribution agreement with leading distributor, SIM Italia, in Italy 3. Patent secured Q1 development: Granted patent for Sippcoat, securing the use of silicone oil in urine handling systems in the EU 4. Significant market interest Q1 development: Secured new customers in Austria and Italy. Commercial expansion and marketing continuing according to plan Navamedic 12

13 Post quarter event: Agreement with Orexigen Therapeutics A biopharmaceutical company focused on the treatment of obesity Founded in 2002 and located in San Diego, California Public company traded on NASDAQ under symbol: OREX Orexigen developed the prescription pharmaceutical Contrave (naltrexone HCl and bupropion HCl extended release) in the U.S. In Europe the treatment has been approved under the brand name Mysimba The treatment is approved in combination with a reduced-calorie diet and increased physical activity for patients who are overweight or struggling with obesity in the presence of one or more weight-related co-morbidities (e.g. type 2 diabetes, dyslipidaemia, or controlled hypertension) Navamedic 13

Post quarter event: Obesity in the Nordics WHO: 10-30% of adults overweight in the EU

Continuum of Treatment Modalities for Obesity Obesity in the Nordics * : Country Men Women

12,5% 11,3% Finland (25-64 years) 20,4% 19% Prevalence between 15-20% across the Nordic

Diet and lifestyle counseling Patient journey No of patients Surgery *Source: World Obesity

14 Post quarter event: Obesity in the Nordics WHO: 10-30% of adults overweight in the EU Definition: Overweight: BMI of kg/m² Obese: BMI of greater than 30 kg/m². Continuum of Treatment Modalities for Obesity Obesity in the Nordics * : Country Men Women Sweden (16-84 years) 15,5% 14,4% Norway (30+ years) 20,4% 20,2% Denmark ** (30-60 years) 12,5% 11,3% Finland (25-64 years) 20,4% 19% Prevalence between 15-20% across the Nordic countries Data indicates less than 1% of patients treated with Rx pharmaceuticals today Diet and lifestyle counseling Patient journey No of patients Surgery *Source: World Obesity Federation (www. Worldobesity.org) ** Danish data from 1992 prevalence likely higher today Navamedic 14

15 Outlook Transformational and value-creating journey expected to continue in 2017: Driving post-aspen revenue growth through new partnerships, products Continued commercialisation of Sippi Partnership with TopRidge Pharma Limited proceeding according to plan. The company expects to initiate Imdur distribution in additional select European markets during 2017 Discontinuation of Aspen partnership by end of Q2 2017: Expected to result in negative impact on revenue and short-term EBITDA pressure. Aspen-related revenues accounted for 40-45% of total sales revenues in Q Company focused on ongoing commercialisation and continued development of the Sippi product family, creating opportunities for multiple revenue streams New patent granted for Sippcoat, extending commercial potential in product family - future opportunity tapping into global market of pure urine-collection bags, estimated at approximately 500 million units per year globally Sippi commercialisation on good track, expecting growing sales in 2017 and 2018 entering onto accelerated growth path towards Sippi long-term revenue potential of over NOK 250 million Strong pipeline of new original pharmaceutical products with launches scheduled for next 6-24 months, aiming to offset effects of Aspen-discontinuation and bringing company back on growth track in the medium term perspective Navamedic 15

16 Thank you Welcome back to our Second Quarter 2017 Presentation 28 July 2017

Second Quarter July 28 th, Tom Rönnlund, CEO

Second Quarter July 28 th, Tom Rönnlund, CEO Second Quarter 2017 July 28 th, 2017 Tom Rönnlund, CEO AGENDA Agenda Q2 highlights and key figures Pharma & Healthcare commercial update Medtech commercial update Financials Outlook Navamedic 2 Q1 HIGHLIGHTS