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Press release

Redeye: Ortoma Q4’2024 - Continued strong progress at year-end

Ortoma

Redeye makes some revisions based on the Q4 report. The milestones did not arrive as expected in the quarter; however, the sales based on the DePuy agreement yielded better results. The milestones will come; we see this as a timing issue. We have pushed our milestone expectation to arrive in 2025e as the level was lower in the quarter. The progress continues, with a lot of positives to come during 2025e. With the rolling over to a new year and a slight WACC change, our fair value range and the Base case increases to SEK 23 (20) per share. Following this report, we also change the lead analyst.

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This is a press release from Redeye - Research Powered Investment Banking. www.redeye.se/

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Ortoma Q4’2024 - Continued strong progress at year-end