Amplitude Surgical in Talks for Majority Stake Acquisition

Update, September 18, 2020: Apax Partners; Olivier Jallabert, Amplitude founder, Chairman and CEO; and certain other senior executives signed the contract relative to the acquisition by Auroralux – a company controlled by PAI Partners – of all the shares
they hold in the company at a price of €2.15 per share. Following this acquisition, Auroralux will hold a total of 25,010,557 Amplitude Surgical shares, or 52.3%2
of the share capital.

Amplitude Surgical and Apax Partners entered into exclusive negotiations with PAI Partners, a European private equity firm, for acquisition of a majority stake in Amplitude, followed by a mandatory public tender offer.

The proposed transaction, subject to regulatory approvals, could complete in 2H20.

Amplitude markets hip, knee and sports medicine devices, as well as foot/ankle trauma products through its Novastep subsidiary. For FY2020, the company posted revenue of €88.2 million (~USD $104 million).

PAI would acquire, for a price of €2.15 per share, all shares directly or indirectly held by Apax Partners and certain managers of the company.

Olivier Jallabert, founder, Chairman and CEO, and certain other senior executives would remain involved in an Amplitude Surgical development project.

The company lost significant momentum in its fiscal fourth quarter. Provided the evolution of the COVID-19 pandemic can be contained without any further measures
restricting economic activity, and assuming there is a catch-up effect on top of a return of activities to normal, leadership expects a recovery of the activity due to the crisis and a return to the average annual growth trajectory of 5%, resulting in FY2020-21 sales of around 10% above sales recorded in FY2018-19, of approximately €115 million.