ZIMMER BIOMET HOLDINGS, INC. ANNUAL REPORT

1 ZIMMER BIOMET holdings , INC. ANNUAL REPORTZIMMER BIOMET holdings , INC., 345 EAST MAIN STREET, BOX 708, WARSAW, IN 46580, ,6092,468821201,2051,632207,0257,668167, 803177,933187,98219162,426799172,2103418 2,1891,13819161,582171,747181, ( )( ) ( ) ,6092,468821201,2051,632207,0257,668167, 803177,933187,98219162,426799172,2103418 2,1891,13819161,582171,747181, ( )( ) ( ) ,6092,468821201,2051,632207,0257,668167, 803177,933187,98219162,426799172,2103418 2,1891,13819161,582171,747181, ( )( ) ( ) ,6092,468821201,2051,632207,0257,668167, 803177,933187,98219162,426799172,2103418 2,1891,13819161,582171,747181, ( )( ) ( ) (Loss)

2 Earnings per Share Diluted (loss) earnings per share was negatively impacted by COVID-19. Operating (Loss) ProfitOur 2020 operating profit was adversely affected by the COVID-19 pandemic, including goodwill impairment charges resulting from decreased expected future cash flows due to the Cash Flow The decline in cash flow from operating activities in 2020 from 2019 was primarily the result of lower net sales due to SalesZimmer BIOMET recorded net sales of $ billion in 2020, our net sales decreased by compared to 2019 due to the deferral of elective surgical procedures from the COVID-19 pandemic.

3 (1) Constant Currency refers to changes in sales resulting from translating current and prior-period sales at the same predetermined foreign currency exchange rate. The translated results are then used to determine year-over-year percentage increases or decreases that exclude the effect of changes in foreign currency exchange rates. See the reconciliation of this non-GAAP financial measure to the most directly comparable GAAP measure on page 91.(2) Adjusted refers to performance measures that exclude the effects of inventory step-up; certain inventory and manufacturing-related charges, including charges to discontinue certain product lines; intangible asset amortization; goodwill and intangible asset impairment, as applicable; quality remediation expenses; restructuring and other cost reduction initiatives; acquisition, integration and related expenses; certain litigation gains and charges; expenses to establish initial compliance with the European Union Medical Device Regulation.

4 Other charges; any related effects on our income tax provision associated with these items; the effect of Switzerland tax reform; the effect of tax reform; other certain tax adjustments; and, with respect to earnings per share information, provide for the effect of dilutive shares assuming net earnings in periods of a reported net loss. See the reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures on pages 88-90. % Change 2019-2020 ConstantSales b y Geography 2016 2017 2018 2019 2020 Reported Currency(1)

5 Americas $4,787 $4,845 $4,837 $4,876 $4,336 (11%) (11%) EMEA 1,730 1,745 1,802 1,747 $1,391 (20%) (21%) Asia Pacific 1,151 1,213 1,294 1,359 $1,298 (5%) (6%) Consolidated $7,668 $7,803 $7,933 $7,982 $7,025 (12%) (12%) % Change 2019-2020 Constant Sales b y Product Category 2016 2017 2018 2019 2020 Reported Currency(1)

6 Knees $2,751 $2,734 $2,774 $2,810 $2,390 (15%) (15%) Hips 1,862 1,872 1,919 1,932 1,751 (9%) (10%) 1,344 1,370 1,401 1,444 1,322 (8%) (9%) Dental, Spine 1,089 1,177 1,175 1,161 1,044 (10%) (11%) & CMF Other 622 650 664 635 518 (18%) (19%)

7 Consolidated $7,668 $7,803 $7,933 $7,982 $7,025 (12%) (12%)Financial Highlights (Dollars in millions except per share amounts) 20%18%62%25%34%15%7%19%20%18%62%25%34%15 %7%19%20%18%62%25%34%15%7%19%20%18%62%25 %34%15%7%19% 20%18%62%25%34%15%7%19%GRAPH KEYA djusted(2)ReportedFinancial Highlights (Dollars in millions except per share amounts) To Our Shareholders,I want to open this letter by acknowledging and thanking ZIMMER BIOMET s more than 20,000 global team members, our dedicated and engaged Board of Directors, and you, our shareholders, for your support as we have executed on our plans.

8 I said early on in the COVID-19 pandemic that there isn t a playbook of historical actions that an executive team could reference to know how to navigate 2020. The year genuinely has no direct precedent. And so we, at ZIMMER BIOMET , looked within and focused on our Mission and Guiding Principles to move forward. In a year when health and safety was top of mind for all of us, we worked hard to keep our people safe, supported our communities, provided the products and solutions to help our patients live better lives, and continued to reshape our company for the future.

9 Despite the challenges posed by the global pandemic, ZIMMER BIOMET made steady progress during 2020 toward the continued transformation of our business. Over the last year, we have taken steps to accelerate innovation, execute on our strategy for sustained growth and deliver value to all of our stakeholders. Key Achievements in 2020 ZIMMER BIOMET s headline numbers for 2020 may indicate a year of challenge. However, by many other measures, 2020 was a remarkable year. We delivered above market growth in our core large joint reconstruction businesses, launched new innovative products, executed against our restructuring plan and completed several strategic acquisitions that we project will be accretive to our top line of our accomplishments in 2020 include: Innovative, Enabling Technologies and Solutions: We added to our portfolio of innovative products and suite of integrated digital and robotic technologies that leverage data, data analytics and artificial intelligence.

10 We had 21 product launches in 2020, including the Signature ONETM Surgical Planner, the Persona Revision Knee and the Avenir Complete Hip System. In order to further build our product ecosystem, we are investing in additional technology and innovations that support informatics and operating room efficiency. In 2021, we expect to add partial knee and hip indications to the ROSA Robotics platform as well as launch a first-to- market smart implant. Active Portfolio Management: As part of the ongoing transformation of our business, we completed several strategic tuck-in acquisitions, including Incisive LLC and Relign Corp.