DENTSPLY SIRONA Inc at Leerink Partners Global Healthcare Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Michael Cherny - Leerink Partners LLC - Analyst : By the way, just on Wellspect, don't sell it short. Growth is growth, cash flow is cash flow. Obviously important. But, maybe, just to come back to SureSmile, at the start, you've had a differentiated go-to-market approach versus some of your other non-aligned peers, in terms of focusing on the GP market. As you think about transitioning into the orthodontic market with that product, what have been the lessons you've learned with GPs? Where do you think the best opportunities for success are, with a new product, whether it is a competitive market but not one that is so competitive, it's not a position for another strong product?

Question: Michael Cherny - Leerink Partners LLC - Analyst : And, along those lines, you had some tough but I think important decisions to make on the Byte platform -- obviously, a deal that was done before your tenure and the market clearly changed, pretty drastically, on you, recently, with some of the state regulations and other FDA dynamics. As you think about the transition of some of the value of Byte into the broader SureSmile platform, I know it's early days but what are you seeing as the most interesting pieces, areas of Byte that you think have the most applicability, the most usage? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MARCH 11, 2025 / 7:00PM, XRAY.OQ - DENTSPLY SIRONA Inc at Leerink Partners Global Healthcare Conference I don't want to use the term salvage, so to speak, but there's certainly pieces of Byte that were really successful. Where do you think those pieces can be most, best applied to your future aligner platform?

Question: Michael Cherny - Leerink Partners LLC - Analyst : If there's a corollary intuitive, I'll be happy to see it -- certainly not a bad way to target and emulate. Maybe flipping over a bit to implants. I think it's been well diagnosed: market challenges, company-specific challenges. I always love a company that is transparent; that doesn't hide from the truth and what's been going on. Particularly in the US, you've talked, numerous times, about your plan to reboot growth. As you think about where you stand, now, what do you think are the biggest near-term opportunities you have to execute on that potential success? How much of its product versus marketing? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MARCH 11, 2025 / 7:00PM, XRAY.OQ - DENTSPLY SIRONA Inc at Leerink Partners Global Healthcare Conference

Question: Michael Cherny - Leerink Partners LLC - Analyst : I'm going to come back with more implant question but you mentioned the third-party consultant that you're working with. How are you measuring yourself? What are the check marks? What should we expect to hear, as an investment community, about how that relationship going? When you'll see tangible results that they want you to focus on? Like, how should we think about the story of that piece, from here? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MARCH 11, 2025 / 7:00PM, XRAY.OQ - DENTSPLY SIRONA Inc at Leerink Partners Global Healthcare Conference

Question: Michael Cherny - Leerink Partners LLC - Analyst : Along those lines, on the inside sales force, because you spent a lot of time in -- I think it's a very prudent investment. Is your hope that you're going from, you mentioned $5,000 client is the number, that $5,000 client becomes a $6,000 client or the $5,000 client becomes a $30,000 client because a Primescan 2 opportunity unveils? Clearly, more revenue is always better but are you happy if it's just some incremental sell-through from someone who you just didn't pay enough attention to, for a while?

Question: Michael Cherny - Leerink Partners LLC - Analyst : Turning the page a bit, let's go to Primescan 2 -- your latest notable large introduction of a product. I know, obviously, you're constantly introducing products but that was last year and that was a big part of DS World presentation. I remember all the lights and the circles. It's certainly eye-catching, from that perspective. But there's a lot of innovation on Primescan, too, in terms of both usability of the wand but also workflow software, like the whole package behind it, the tie-in to DS Core. Basically, six months past DS World, now, maybe, just, could we do a check in on how the Primescan 2 evolution has gone? Where broad availability is, globally, right now? How to think about that, in terms of what's embedded in the guidance, for this year?

Question: Michael Cherny - Leerink Partners LLC - Analyst : How should we think about the further expansion of DS Core, in terms of, call it, a chicken-and-the-egg argument. Are you going out to sell a product and then, pitching the wares of DS Core? Or is it an opportunity to go out and sell the ecosystem? And, then, use that as the hub-and-spoke approach, where you can, then, branch out to other connected devices? Strategically, how is your team thinking about that?

Question: Michael Cherny - Leerink Partners LLC - Analyst : Maybe, if I can ask the dumb question because it comes up all the time but I don't think we ever address it. Why are penetration rates so low? We just went through a cycle, where the price point on intraoral scanners came down, meaningfully, across the board, not because people were discounting, just introduced products at a completely different price point, across the market. So what's the hindrance that you think, whether it's the US, whether it's Germany? Emerging markets, obviously, are a different animal but for two very developed dental markets with plenty of product available, what's the hold-up?

Question: Michael Cherny - Leerink Partners LLC - Analyst : A couple more quick ones before we run out of time.

Question: Michael Cherny - Leerink Partners LLC - Analyst : Yeah. Of course, it's a great point. It's not discounting, it's just different approaches (multiple speakers) to build the products. Obviously, IDS, in 2 weeks. You mentioned Orthophos, which was into Germany. Is there a desire and expectation to build that beyond Germany? Or is that just that the German market demand is so unique and that product has been so successful there, historically, that it made sense to have a product for what's obviously a big market?

Question: Michael Cherny - Leerink Partners LLC - Analyst : And, then, last question. On the last earnings call, you completely understandably walked away from your multi-year targets, the $3 of earnings. You've been extremely transparent the whole time, up about here is our target but here is what gets us there -- that bridge slide has been in every deck that you've done. Obviously, the market has nowhere close to cooperate, amongst other items. What are you looking for, within your organization, to feel comfortable, though, of putting out whatever a new long-term guidance may be? What needs to happen, operationally? How are you thinking about the positioning of the business to give you the comfort and that level of visibility that you had pre-received with the targets?

Question: Michael Cherny - Leerink Partners LLC - Analyst : Perfect. Well, Simon and Herman, thank you so much for being here. I appreciate that.