Smith & Nephew PLC Capital Markets Day-New York Transcript

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

Question: Veronika Dubajova - Citibank Infrastructure Investments LLC - Analyst : Hi. Veronika Dubajova from Citi, and thank you so much for your presentation and your passion. Just curious sort of when you give these talks to your peers across the ortho space, how receptive they are to the idea of using PICO and just the feedback that you get from them? Thank you. LSEG STREETEVENTS | www.lseg.com | Contact Us consent of LSEG. 'LSEG' and the LSEG logo are registered trademarks of LSEG and its affiliated companies.

Question: Veronika Dubajova - Citibank Infrastructure Investments LLC - Analyst : Hi. Thank you. Veronika from Citi, and thank you, Dr. Ranawat. The presentation was amazing. A couple questions for me. First, on TESSA, can you talk about how much time it adds to the surgery and just kind of how you think about the cost benefit? Obviously, it's been a big debate with robotics. So maybe help us understand that. And then I have a couple other things, but maybe start there.

Question: Veronika Dubajova - Citibank Infrastructure Investments LLC - Analyst : And I guess, I mean, when I look at the failure rate, it seems like a no-brainer not to use it. When you have discussions with your peers, what are the reasons that you think they might say TESSA is just not worth it?

Question: Veronika Dubajova - Citibank Infrastructure Investments LLC - Analyst : Okay. That's really helpful. And then I wanted to ask you about REGENETEN. Are you using it in all of your repairs?

Question: Veronika Dubajova - Citibank Infrastructure Investments LLC - Analyst : Dr. Haas Veronika from Citi. Can I ask you three things about CORI? I think we speak to a lot of surgeons and they have different opinions on the technology versus Mako, I think, predominantly. But I'm just curious how you feel about, obviously, the lack of haptic feedback. Is that a concern for you?

Question: Veronika Dubajova - Citibank Infrastructure Investments LLC - Analyst : That's very helpful. And then burr versus saw, I think there are different schools of thought. You're clearly in the birth school of thought, but how do you think about it?

Question: Veronika Dubajova - Citibank Infrastructure Investments LLC - Analyst : That's super helpful. And then I was going to ask you, in your practice, what proportion of your knees are robotic? And then how much time does going robotic add to your standard procedure time?

Question: Veronika Dubajova - Citibank Infrastructure Investments LLC - Analyst : I feel like I've asked all the questions. I feel bad going downtown south. But maybe just on wounds. Obviously, you articulated this ambition to grow high single digits on Monday. If I look at the business over the last couple of years, I think the growth rate has been trending around 5% to 6%. So I know you talk about five areas of focus that you have, but maybe just help us understand what you think is the biggest needle mover that moves you from that 5% to 6% growth rate that we've been at into the high single digits. Thank you.

Question: Veronika Dubajova - Citibank Infrastructure Investments LLC - Analyst : Just a quick follow-up on the Biologics space. Obviously, I think you outlined your assumptions on Monday and one of the assumptions that you've made is that the LCD is going ahead. I guess, if the LCD does not go ahead, does that change the magnitude of the headwind that you'd anticipate next year? And how are you thinking about that? Because I mean, my perception is there's still some uncertainty about whether we end up with the LCD or not. And I just would like to understand your degree of confidence around that. LSEG STREETEVENTS | www.lseg.com | Contact Us consent of LSEG. 'LSEG' and the LSEG logo are registered trademarks of LSEG and its affiliated companies.

Question: Veronika Dubajova - Citibank Infrastructure Investments LLC - Analyst : Just maybe one, in terms of LEGION MS versus LANDMARK, kind of how do you think about the impact of that, one versus the other? I guess, how much of a step-up in growth in US knees should we already expect now versus once we get to third quarter and LANDMARK's out there?