Disclaimers

Forward Looking Statements

This presentation contains certain forward-looking statements, within the meaning of the U.S. Private Securities

Litigation Reform Act of 1995, that involve risks and uncertainties. Actual results and events may differ significantly

from results and events discussed in forward-looking statements. Factors that might cause or contribute to such

differences include, but are not limited to, those discussed in “Risk Factors” in our Annual Report on Form 10-K and

subsequent Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission. Undue reliance should

not be placed on forward-looking statements, which speak only as of the date they are made. We undertake no

obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after

the date they were made.

Non-GAAP Financial Measures

This presentation contains non-GAAP financial measures. Non-GAAP financial measures are not prepared in accordance

with generally accepted accounting principles and may not be comparable to similar non-GAAP financial measures used

by other companies. The most directly comparable financial measures calculated in accordance with GAAP and a

reconciliation of GAAP to non-GAAP financial measures are provided at the end of this presentation.

Other

Unless otherwise specified, all information contained herein is provided as of March 31, 2019, except that all

management guidance is as of May 1, 2019. This presentation is not a reaffirmation of management guidance, which is

referenced herein for convenience only.

2

LMAT INVESTMENT HIGHLIGHTS:• $113.5mm - $114.7mm sales in 2019*

• +8% reported, +6% organic†

• $20.9mm - $21.7mm operating income in 2019*• -25%†, +4% adjusted▪

• 19% operating margin†

• $0.82- $0.86 earnings per diluted share in 2019*• -26%†, +2% adjusted▪

• 109 sales reps

• Acquisition and R&D strategy

• $47.5mm cash & short term investments, no debt

• Dividend payer

• $10mm share repurchase program authorized

*Management Guidance, May 1, 2019

†All % figures are midpoint of guidance range

▪Adjusted operating income and EPS growth exclude 1X gains and losses from acquisitions, divestitures, and restructuring, net of tax 3

Top & Bottom Line Growth

*Bar chart and 5-year CAGR calculated from midpoint of guidance range, May 1, 2019

**2018 1X gains represent gains from acquisitions and divestitures

$0

$10

$20

$30

$40

$50

$60

$70

$80

$90

$100

$110

$120

$130

2014 2015 2016 2017 2018 2019*

Mill

ion

s

Sales

$1

13

.5-

$1

14

.7*

$0

$2

$4

$6

$8

$10

$12

$14

$16

$18

$20

$22

$24

$26

$28

$30

2014 2015 2016 2017 2018 2019*

Mill

ion

s

Operating Income

$2

0.9

-$

21

.7*

4

1x

Ga

ins*

*

COMPANY SNAPSHOT

LEMAITRE’S STRATEGY

Focused Call Point:

Vascular Surgeon

Niche Markets Growth Platform

� Sales force expansion

� R&D introductions

� Acquisitions

5

Focused Call Point: Vascular Surgeon

78%

Vascular Surgeon

22% Other

Source: Management Surveys of LMAT Field Sales Personnel

• Cardiac Surgeon

• Neurosurgeon

• General Surgeon

• Interventional Radiologist

Other Includes:

6

LeMaitre Hospital Customers:

• 4,500 Worldwide

• Average purchases/hospital: ~$22,000

Vascular Surgeons*:

• 15,000 Worldwide

• >50% use LeMaitre products

*Source: Management Estimate

Niche Strategy: 15 Product Lines, $900mm TAM

• ~20% of $5b Peripheral

Vascular Market*

• #1 or #2 Market Share in 12

of 15 Vascular Product Lines

• 98% of LMAT Sales from

Markets <$160mm*

#1 or #2 Market Share

ePTFE

Vascular

Grafts

Polyester

Vascular Grafts

Vascular

Patches

Biologic

Vascular

Grafts

Carotid

Shunts

Valvulotomes

Anastomotic Clips

RE Devices

Radiopaque Tape

Embolectomy

Catheters

Powered

Phlebectomy

AngioscopesContrast

Injectors

Surgical

GlueOcclusion

Catheters

7*As of 3/31/2019

XenoSureBiologic Vascular Patch

Pruitt F3 Carotid Shunt

Omniflow II

Biosynthetic Vascular Graft

HYDRO LeMaitre Valvulotome

RestoreFlow Vascular Allograft

Dacron & ePTFEVascular Grafts

1

2

3

4

5

6

7

8

These 8 products represented >85% of our sales in Q1 2019

Niche Markets: A Diversified Sales Bag

EmbolectomyCatheter

Disposables Implantables

AnastoClip GC Closure System

8

0%

20%

40%

60%

80%

100%

2015 2016 2017 2018 2019*

Sales Mix by Product Category

Biologic

Implants

Disposables

Non-Biologic

Implants

% o

f S

ale

s

9*Through 3/31/2019

33%

11%

56%

Worldwide Sales Reach: 109 Sales Reps & 11 Offices

March 31, 2019

Rep Count: 109

Direct Sales in 22 Countries

11 Sales Offices

North America: 54

Asia / Pacific Rim: 13

Europe: 42

109 Sales Reps

10

We Add ~5 Sales Reps per Year

0

10

20

30

40

50

60

70

80

90

100

110

42 Reps

54 Reps

13 Reps

Asia/Pacific Rim

Europe

Americas

11

APPROVED SUBMITTED

Regulatory Approvals – Direct Sales Channel

**Based on Q1 2019 worldwide net sales by product line

Product Lines and Services

The Americas EMEA Asia/Pacific Rim

US Canada Europe NZ Australia Japan China

LeMaitre Valvulotome

VascuTape Radiopaque Tape

Catheters: SL Embo/OTW Embo/NovaSil

Catheters from Applied: Syntel/Python/Latis

Catheters: Aortic/PIOC/Small Occlusion/DPC

Carotid Shunts: Pruitt F3/F3-S/Flexcel

AnastoClip: AC/GC

Elongated AnastoClip: AC/GC

EndoRE Devices: Moll/MultiTASC

AlboGraft/AlboSure Polyester Graft

Surgical Glue

XenoSure Biologic Patch Clinical Trial

LifeSpan ePTFE Graft

LeverEdge Contrast Injector

TRIVEX System

Omniflow II Biosynthetic Graft

Angioscope

ProCol Biologic Graft

RestoreFlow Allografts

% of Products Approved in Market** 94% 95% 90% 90% 84% 55% 23%

12

APPROVED SUBMITTED

Product Lines and Services

Americas EMEA Asia/Pacific Rim

Brazil S. Africa Turkey Saudi Russia Vietnam Thailand Korea Taiwan

LeMaitre Valvulotome

VascuTape Radiopaque Tape

Catheters: SL Embo/OTW Embo/NovaSil

Catheters from Applied: Syntel/Python/Latis

Catheters: Aortic/PIOC/Small Occlusion/DPC

Carotid Shunts: Pruitt F3/F3-S/Flexcel

AnastoClip: AC/GC

Elongated AnastoClip: AC/GC

EndoRE Devices: Moll/MultiTASC

AlboGraft/AlboSure Polyester Graft

Surgical Glue

XenoSure Biologic Patch

LifeSpan ePTFE Graft

LeverEdge Contrast Injector

TRIVEX System

Omniflow II Biosynthetic Graft

Angioscope

ProCol Biologic Graft

RestoreFlow Allografts

% of Products Approved in Market** 75% 82% 85% 77% 44% 77% 78% 39% 31%

**Based on Q1 2019 worldwide net sales by product line

Regulatory Approvals – Distributor Sales Channel

13

New

R&D Launch Record (12-6-1)

12 WINS

Year Product

2001 1.8mm Valvulotome

2002Novasil Latex Free Embo

Catheter

2003Reddick Scoop Tip

Cholangiogram Catheter*

2004 Flexcel Carotid Shunt

2004 Distal Perfusion Catheter

2004 5F Plus O-T-W Embo Catheter

2007 Pruitt F3 Carotid Shunt

2010 AnastoClip GC

2013 1.5mm Valvulotome

2014 HYDRO Valvulotome

2016 15cm AnastoClip AC

2018 15cm AnastoClip GC

6 LOSSES

Year Product

2004 InvisiGrip Vein Stripper*

2007 TT Delivery System*

2008 TAA Top Stent*

2011 O-T-W Valvulotome

2011 The UnBalloon*

2013 MultiTASC

SKU Expansion

1 TBD

Year Product

2013 AlboSure Polyester Patch

THREE TYPES OF PROJECTS

Next Generation

*Discontinued/Divested

*Management determination of wins vs. losses vs. TBD incorporates factors including

but not limited to: sales, growth, profitability, and return on investment 14

21 Acquisitions in 22 years

$0

$10

$20

$30

$40

$50

$60

$70

$80

$90

$100

$110

$120

Mil

lio

ns

# of Acquisitions

Acquired Sales

Growth of Acquired Sales

Non-Acquired Sales1 1

1

11

1

4

1 1

2

1

2

2

2

15

*Management Guidance, May 1, 2019

Acquisitions Record (13-5-3)

13 WINS

Year ProductMultiple

Paid

1998 VascuTape 0.3x

1999Embolectomy

Catheters0.9x

2001Carotid Shunt,

Embo Catheters1.1x

2004 AnastoClip 0.6x

2007 LeverEdge 1.8x

2010 LifeSpan 2.3x

2012 XenoSure 1.0x

2013Carotid Shunt,

Embo Catheters1.9x

2013 TRIVEX 1.1x

2014 Omniflow II 2.5x

2014 Angioscope 1.2x

2015 Valvulotome 5.0x

2016Restore Flow

Allografts3.8x

Wtd Avg Sales Multiple Paid 1.7x

5 LOSSES

Year ProductMultiple

Paid

2003 Dialysis Grafts 9.5x

2005 Stent Grafts 2.3x

2007 UnBalloon N/A

2007 AlboGraft 2.8x

2007 EndoRE 1.7x

Wtd Avg Sales Multiple Paid 2.7x

3 TBD

Year ProductMultiple

Paid

2016 ProCol 2.1x

2018Embolectomy

Catheters4.2x

2018

Polyester Grafts,

Valvulotomes,

Surgical Glue

0.7x

Wtd Avg Sales Multiple Paid 2.4x

Weighted Average Sales Multiple of all 21 acquisitions: 2.1x

*Management determination of wins vs. losses vs. TBD incorporates factors including but not

limited to: sales, growth, profitability, and return on investment

16

Financials: High Quality Sales

**Approximate, in LMAT Direct Territories

XenoSure

20%

No Product

>25%†

Distributor 7%

Direct to Hospital†

Geographically

Diverse†

Americas

57%ROW

43%

† Q1-19 Data

Direct

93%

50%

55%

60%

65%

70%

75%

2014 2015 2016 2017 2018 2019*

Gross Margin ~70%

0%

5%

10%

2014 2015 2016 2017 2018 2019

Worldwide Price Increase**

*Management Guidance, May 1, 2019

17

Operating Margin: ~20%

$2

7.9

-$

30

.0*

*2018 adjusted operating income excludes 1X gains from acquisitions and divestitures

*Operating margin calculated from midpoint of guidance range, May 1, 2019

0%

5%

10%

15%

20%

25%

2014 2015 2016 2017 2018 adj.* 2019**

18

EBITDA Funds Dividends & Acquisitions

*Calc: Tax-affected Operating Inc./(Equity less Cash and S/T Investments)

^Includes 1x gains from acquisitions and divestitures

$0

$10

$20

$30

$40

2015 2016 2017 2018^ 2019

EB

ITD

A (

mil

lio

ns)

Dividends Share Repurchases Acquisitions Excess EBITDA

Through 3/31/2019

$0

$10

$20

$30

$40

$50

$60

2015 2016 2017 2018 2019

$47.5mm Cash, No Debt

0%

5%

10%

15%

20%

25%

30%

2015 2016 2017 2018^ 2019

Return on Invested Capital*

19

Liquidity Driving Institutional Shareholders

*Institutional ownership is based on 13Fs for the period ended

March 31, 2018.

**Beneficial ownership excluding options as of March 31, 2019

based on 19,671,232 shares outstanding as of March 31, 2019.

$0.0

$0.5

$1.0

$1.5

$2.0

$2.5

$3.0

$3.5

$4.0

$4.5

$5.0

$5.5

$6.0

2015 2016 2017 2018 2019*

Mil

lio

ns

Added to

Russell

2000

Q2 2015

Added to

S&P SmallCap 600

Q2 2017

LMAT Average Daily Trading Dollar Volume LMAT Stock Ownership Transition

Insider

Owners**

Institutional

Owners*

20

*Through 3/31/2019

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

2015 2016 2017 2018 2019

Investors, Analysts, ConferencesInside Shareholders holding >1%*

George W. LeMaitre 15.8%

Top 25 Institutional Shareholders **

BlackRock Fund San Francisco 12.3%

Conestoga Philadelphia 8.6%

Vanguard Philadelphia 6.7%

Dimensional Austin 5.2%

Janus Denver 3.4%

Ranger Dallas 3.2%

State Street Global Boston 3.1%

Thomson Horstmann & Bryant Norwalk 1.9%

AWM (Special Situations) New York 1.7%

Columbia Threadneedle Boston 1.5%

Wells Capital San Francisco 1.3%

Bahl & Gaynor Cincinnati 1.2%

Summit Creek Minneapolis 1.2%

Northern Trust Chicago 1.1%

Epoch New York 1.1%

Geode Boston 1.1%

Wasatch Salt Lake City 1.1%

Marshall Wace London 1.0%

Millennium New York 0.9%

Mellon Boston 0.9%

Kennedy St. Louis 0.8%

Copeland Philadelphia 0.8%

Invesco Chicago 0.7%

Principal Global Des Moines 0.7%

Nuveen New York 0.6%

*Beneficial ownership excluding options as March 31, 2019 based on 19,671,232

shares outstanding at March 31, 2019.

**Institutional ownership based on 13Fs for the period ended March 31, 2019.

Analyst Coverage

Barrington Research Michael Petusky

Canaccord Genuity Jason Mills

First Analysis Joseph Munda

Lake Street Capital Brooks O’Neil

Roth Scott Henry

Sidoti James Sidoti

Stifel Rick Wise

Upcoming Investor Conferences

Jefferies NYC Jun 6

Canaccord Boston Aug 7 – 8

Wells Fargo Boston Sep 4 – 5

RW Baird NYC Sep 4 – 5

Morgan Stanley NYC Sep 9 – 11

Common Shares (Weighted Average)

Outstanding 19.6mm

Fully Diluted 20.2mm

Quarterly Midpoint of Guidance Achievement Record

Sales Guidance 25 of 37 Quarters (68%)

Operating Income Guidance 26 of 37 Quarters (70%)

Earnings Per Share Guidance 6 of 8 Quarters (75%)

21

GAAP to Non-GAAP Financial Measures

Reconciliation

Amounts are in thousands and are unaudited

**Management Guidance, May 1, 2019 22

Reconciliation between GAAP and Non-GAAP projected sales growth:

For the year ended December 31, 2019

Net sales per guidance 114,100$

Impact of currency exchange rate fluctuations 2,088

Net impact of acquisitions excluding currency (5,417)

Adjusted net sales 110,771$

For the year ended December 31, 2018

Net sales as reported 105,568$

Net impact of divestitures excluding currency (787)

Adjusted net sales 104,781$

Adjusted projected net sales increase for the year ended December 31, 2019 5,990$ 6%

Reconciliation between GAAP and Non-GAAP projected operating income:

For the year ended December 31, 2019

Operating income per guidance 21,267$

Add back restructuring charge 300

Adjusted projected operating income 21,567$

For the year ended December 31, 2018

Operating income as reported 28,209$

Impact of gains on acquisitions and divestitures (7,474)

Adjusted operating income 20,735$

Adjusted projected operating income increase for the year ended

December 31, 2019 832$ 4%

GAAP to Non-GAAP Financial Measures

Reconciliation

Amounts are in thousands and are unaudited

**Management Guidance, May 1, 2019 23

Reconciliation between GAAP and Non-GAAP projected earnings per share:

For the year ended December 31, 2019

Earnings per share per guidance 0.84$

Add back earnings per share from restructuring charge, net of tax 0.01

Adjusted earnings per share 0.85$

For the year ended December 31, 2018

Earnings per share as reported 1.13$

Less earnings per share from gains on acquisitions and

divestitures, net of tax (0.30)

Adjusted earnings per share 0.84$

Adjusted projected earnings per share increase for the year ended

December 31, 2019 0.01$ 2%

Reconciliation between GAAP and Non-GAAP EBITDA: 2015 2016 2017 2018 Q1-2019

Net Income as reported 7,758$ 10,590$ 17,177$ 22,943$ 3,513$

Interest (income) expense, net (13)$ (67)$ (158)$ (629)$ (157)$

Taxes 3,666$ 5,652$ 3,929$ 5,501$ 1,284$

Amortization and depreciation expense 3,394$ 3,591$ 4,055$ 4,324$ 1,000$

EBITDA 14,805$ 19,766$ 25,003$ 32,139$ 5,640$

Thank You