Bank of America Merrill Lynch High Yield Conference

December 3, 2013

Biomet, Inc.

Daniel P. Florin

Senior Vice President & CFO

Forward-Looking Statements and Non-GAAP Financial Measures 2

Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. Those statements are often indicated by the use of words such as “will,” “intend,” “anticipate,” “estimate,” “expect,” “plan” and similar expressions. Forward-looking statements involve certain risks and uncertainties. Actual results may differ materially from those contemplated by the forward looking statements due to, among others, the following factors: the success of the Company’s principal product lines; the results of the ongoing investigation by the United States Department of Justice; the ability to successfully implement new technologies; the Company’s ability to sustain sales and earnings growth; the Company’s success in achieving timely approval or clearance of its products with domestic and foreign regulatory entities; the impact to the business as a result of compliance with federal, state and foreign governmental regulations and with the Deferred Prosecution Agreement; the impact to the business as a result of the economic downturn in both foreign and domestic markets; the impact of federal health care reform; the impact of anticipated changes in the musculoskeletal industry and the ability of the Company to react to and capitalize on those changes; the ability of the Company to successfully implement its desired organizational changes and cost-saving initiatives; the ability of the Company to successfully integrate the Trauma and Lanx acquisitions; the impact to the business as a result of the Company’s significant international operations, including, among others, with respect to foreign currency fluctuations and the success of the Company’s transition of certain manufacturing operations to China; the impact of the Company’s managerial changes; the ability of the Company’s customers to receive adequate levels of reimbursement from third-party payors; the Company’s ability to maintain its existing intellectual property rights and obtain future intellectual property rights; the impact to the business as a result of cost containment efforts of group purchasing organizations; the Company’s ability to retain existing independent sales agents for its products; the impact of product liability litigation losses; and other factors set forth in the Company’s filings with the SEC, including the Company’s most recent annual report on Form 10-K and quarterly reports on Form 10-Q. Although the Company believes that the assumptions on which the forward-looking statements contained herein are based are reasonable, any of those assumptions could prove to be inaccurate given the inherent uncertainties as to the occurrence or non-occurrence of future events. There can be no assurance as to the accuracy of forward-looking statements contained in this presentation. The inclusion of a forward-looking statement herein should not be regarded as a representation by the Company that the Company’s objectives will be achieved. The Company undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements which speak only as of the date on which they were made.

Non-GAAP Financial Measures This presentation uses non-GAAP financial measures, such as net sales excluding the impact of foreign currency (constant currency), excluding the impact of the Trauma acquisition and Bracing divestiture, free cash flow, unlevered free cash flow, Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) as adjusted, adjusted net income, net debt, senior secured leverage ratio, total leverage ratio, inventory turnover as adjusted, and cash and cash equivalents (as defined by the Company’s credit agreement) as important financial measures to review and assess financial and operating performance of its principal lines of business. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures are included on the Biomet website at www.biomet.com The term “adjusted” or “as adjusted,” a non-GAAP financial measure, refers to financial performance measures that exclude certain income statement line items, such as interest, taxes, depreciation or amortization, other income (expense), and/or exclude certain expenses as defined by our credit agreement, such as restructuring charges, non-cash impairment charges, integration and facilities opening costs or other business optimization expenses, new systems design and implementation costs, certain start-up costs and costs related to consolidation of facilities, certain non-cash charges, advisory fees paid to the private equity owners, certain severance charges, purchase accounting costs, stock-based compensation and payments, payments to distributors that are not in the ordinary course of business, litigation costs, loss on extinguishment of debt, and other related charges. These non-GAAP measures are not in accordance with, or an alternative for, generally accepted accounting principles in the United States. Biomet management believes that these non-GAAP measures provide useful information to investors; however, this additional non-GAAP financial information is not meant to be considered in isolation or as a substitute for financial information prepared in accordance with GAAP.

Biomet: A Legacy of Innovation and Growth*

Legacy of product innovation

Fastest growing orthopedic joint company over the past 7 years

Consistent above market growth

Poised to continue with strong pipeline (XPA, G7™)

Fast growing S.E.T. segment

Lanx acquisition adds scale & MIS technology to spine

Continued growth in both developed & emerging international markets

Consistent EBITDA growth and excellent cash net income growth

Strong cash flow drives ability to continue de-leveraging

Note: International primarily includes Canada, South America, Mexico and Asia Pacific region

Q1 Fiscal ‘14 Revenues by Geography

Q1 Fiscal ‘14 Revenues ($731mm) by Product Category Biomet Highlights

3

Cement, Biologics, & Other Products

$51

Hips $150

Spine, Bone Healing & Microfixation

$102

Sports, Extremities & Trauma (S.E.T.)

$149

Dental $54

7%

20%

14%

7%

21%

International $109

9% cc growth

United States $470

4% y/y growth

Europe $152

2% cc growth

15% 21%

64%

*See Non‐GAAP Financial Measures Disclosure on slide 2

4.3% y/y cc growth

31%

Knees $225

$2,107

$2,383 $2,504

$2,698 $2,732 $2,838

$3,053

$1,600

$2,000

$2,400

$2,800

$3,200

FY 2007

FY 2008

FY 2009

FY 2010

FY 2011

FY 2012

FY 2013

$719

$829

$926 $1,000 $1,010 $1,031

$1,077

$500

$700

$900

$1,100

$1,300

FY 2007

FY 2008

FY 2009

FY 2010

FY 2011

FY 2012

FY 2013

$58 $59 $135

$206 $198 $265

$0 $80

$160 $240 $320

FY 2008

FY 2009

FY 2010

FY 2011

FY 2012

FY 2013

Leverage Free Cash Flow(1)

Net Sales Adjusted EBITDA

(1) Free Cash Flow is calculated as Cash Flow from Operations less Capital Expenditures

4

Adjusted Net Income Inventory Turnover, Adjusted

1.14 1.30 1.34 1.50 1.45 1.50 1.55

0.00.61.21.8

FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013

8.5x 7.4x 6.5x 5.7x 5.6x 5.2x 5.2x

LBO Close

FY 2008

FY 2009

FY 2010

FY 2011

FY 2012

FY 2013

5.0x 2.7x

3.1x 3.1x 3.6x 4.3x

2.7x

5%

8% cc

4%

3% cc

13%

9% cc

1%

1% cc

8%

7% cc

4%

2% cc

8%

9% cc

2% cc organic

$107 $158

$242 $205 $252

$368

$0

$200

$400

$600

FY 2008

FY 2009

FY 2010

FY 2011

FY 2012

FY 2013

Strong Record of Consistent Growth and De-Leveraging*

5.0% 3.8% 3.9%

2.6%

Percent of Sponsor Equity

34.1%

34.8%

37.0% 37.1% 37.0% 36.3%

35.3%

*See Non‐GAAP Financial Measures Disclosure on slide 2

Secured Leverage:

Note: organic excludes impact of trauma acquisition & bracing divestiture

We’ve always been a Leader in Innovation …enhancing patient care on both the implant side and the procedure side Rich clinical history

Pioneered use of titanium alloy as material of choice for hip stems Developed porous plasma spray technology for biological fixation Leader in polyethylene advances, including E1® vitamin E infused

highly cross-linked polyethylene

Market leading brands Oxford® Partial Knee Comprehensive® Shoulder System JuggerKnot™ Soft Anchor Technology DVR® Crosslock Plating System

Still many opportunities to solve unmet clinical needs …to further improve short and long term outcomes and patient satisfaction

Leader in Innovation 5

Our Mission: One Surgeon, One Patient®

®

6

Over 1 million times per year…

…we help one surgeon provide personalized care to one patient

Offering surgeons the best tools possible to deliver personalized patient care

Providing extraordinary service and advocating for physicians and their patients Defending surgeons’ freedom to choose the best implants for their patients

Promoting rational reimbursement that preserves patient access

Treating every implant as if it were meant for a family member

Biomet Strategies

7

Biomet Strategic Goals

1. Drive above market growth through innovation & excellence at every intersection

2. Creative solutions that deliver value efficiently in a changing world

3. Maintain our energetic team culture and work environment, while always putting our customers and their patients first

Resulting in Excellent Financial Performance

8

Above Market Growth through Innovation & Excellence at Every Intersection

SET as current growth driver

Reshape BSBH: high growth spine, stim

stability

Restore dental growth: back to basics

Increased investment in high-value

biologics programs

Strong base in above market recon growth

Invest in both emerging markets and attractive low-share developed markets

9

Biomet’s WW Hip/Knee Market Share Growth

Strong Base in Above Market Recon Growth

10

*Rates at constant currency; see Non-GAAP Financial Measures Disclosure on slide 2; Market rates reflect our internal estimates and are based on calendar quarters; Note: Biomet’s data reflects rates based on fiscal quarter press releases (ending one month prior to each calendar quarter end), which have not been restated for product line reclassifications

Biomet has Consistently Grown Faster than the Overall Joint Recon Market

We believe Share Gain is Sustainable: Strong Portfolio/Pipeline

Strength & Stability of Distribution

Creative Solutions That Deliver Value Efficiently in a Changing World

-4%

0%

4%

8%

12%

16%

CY'07 CY'08 CY'09 CY'10 CY'11 CY'12 YTD'13

WW Hip/Knee YOY Market Growth Rates* Biomet Market

Joint Recon Market is Improving

Biomet has been the Market Leader in Gaining Share

-2%

0%

2%

4%

6%

8%

CY'07 CY'08 CY'09 CY'10 CY'11 CY'12 YTD'13

Biomet WW Hip/Knee Growth vs. Market* (Delta to Market Growth)

210 160 70

-10

-370 -600

-300

0

300

600

Biomet SNN SYK JNJ ZMH

WW Hip/Knee Market Share Gain/Loss (basis points)

Q1 CY’07- Q3 CY’13

11 Strong Base in Above Market Recon Growth: Knees

Key Knee Growth Drivers Vanguard® Complete Knee System

Vanguard® 360 Revision System

Oxford® Partial Knee

Signature™ System for Oxford® Partial Knee*

New Knee Product (FY’15 planned commercial launch)

– Vanguard® XP

*The Signature™ System was developed through a partnership with Materialise NV.

Partial Primary Revision

Oxford® Partial Knee

Vanguard® Complete Knee System

Vanguard® 360 Revision System

XPA Platform: Combining the best of the Oxford® Partial and Vanguard® Total 12

Combining into XPA: Cruciate Preserving Arthroplasty

Oxford® Partial Knee Superior patient satisfaction with ADL in one study compared to

total knee replacement Vanguard® XP

bi-cruciate preserving arthroplasty (natural knee kinematics & feel) introduction at AAOS in March; launch planned for Fiscal 2015

Vanguard® : The Standard To Which

Others Are Aspiring

Oxford® knee patients were approximately 2.7x more likely to be satisfied with

their ability to perform activities of daily living compared to total knee replacement patients

Oxford® : The Only Free Floating Meniscal Bearing Partial Knee

Approved in the U.S.

Vanguard® Complete Knee System Ten femoral sizes

Nine tibial sizes

Seven levels of constraint

Complete interchangeability between femoral and tibial components

Goal: Partial knee patient satisfaction in a total knee

G7™

Acetabular System

Strong Base in Above Market Recon Growth: Hips Combination of Clinically Proven & New Products

13

Current Hip Growth Drivers – Arcos® Modular Femoral Revision Hip System

– Taperloc® Complete Hip Stem

– Taperloc® Complete Microplasty® Stem

– Bone-conserving design

– Competes in fast-growing minimally invasive procedures segment (ASI, et. al.)

New Hip Products during FY’13/’14: – G7™ Acetabular System

– Color coding provides elegant simplicity in instruments and implants

– Multi-bearing system

– Began launch Q2 FY’14

– Signature™ Acetabular System*

– Designed for optimal cup placement

*The Signature™ System was developed through a partnership with Materialise NV.

Arcos® Modular Femoral Revision

Hip System

Taperloc® Complete & Taperloc® Complete Microplasty® Stems

Favorable market dynamics in each segment Opportunities within and across segments

Market leading brands Biomet well-positioned for growth

Segment Market

Size Market Growth

Biomet S.E.T. Growth

Sports $3.0B 5% Q1 FY’14:

19% cc

Extremities $1.2B 8%

Trauma $5.5B 5%

Key New Products

JuggerKnotless™

Soft Anchor

DVR® Crosslock ePAK™

Single Use Delivery System

14 S.E.T. (20% of Fiscal Q1 Sales) Strong Growth in Attractive Markets

Key New Products FY’13/’14: – Comprehensive® Segmental Revision System

– DVR® Crosslock ePAK™

– Signature™ Glenoid System*

– JuggerKnotless™ Soft Anchor

Signature™

Glenoid System

Comprehensive®

Segmental Revision System

Overall New leadership and new HQ reinvigorating organization Spine Unmet needs still drive growth opportunity Historically strong products, but lack of strength in distribution Lanx adds MIS & strength in distribution Bone Healing Stim market challenged by reimbursement pressures Recent Signs of Stabilization & Biomet share gains Microfix Highly successful business Unique solutions within core CMF space, plus seized the opportunity in sternal closure

Cellentra™ Lineum® SternaLock®

HTR PEKK

15 Reshape BSBH: High Growth Spine, Stim Stability

Continued Growth in Microfixation/Sternal Closure

Segment Market Growth

FY’13 Biomet Product

Category Growth*

Spine (2%) Q1 FY’14

3% cc

Bone Healing (2%)

Microfix (CMF) 4%

Products Launched/Key Growth Drivers – Lineum® OCT Spine System (translation screw)

– Cellentra™ VCBM (Viable Cell Bone Matrix)

– Lanx portfolio

*Organic: excludes Royalties & Bracing;

Lanx Investment Thesis

$147M all-cash deal closed on October 31st, 2013

Headquartered in Broomfield, CO

Market Leading Technologies in Minimally Invasive Surgery (MIS)

& Lateral Approach Fusions

Transformative for Biomet Spine:

Best in class products address Biomet’s portfolio gaps – New Timberline® lateral system is best in class in a $350M market – Interspinous fusion systems, Aspen® and Alpine™

Combined sales forces creates strong “top 20+” distributors

Significant sales synergies from combination of product lines & “best athlete”

sales force

Provides scale to compete more effectively

16

0%

20%

40%

60%

80%

100%

$0 $1 $1 $2 $2 $3 $3 $4 $4 $5 $5

CY10 CY11 CY12 CY13 CY14 CY15 CY16 CY17

Global Industry Market Size by Segment*

Value / Discount

Premium

Premium Share (right-axes)

17

Market recovery slow and somewhat volatile NA stronger recovery than Europe and Japan

Southern Europe, emerging markets susceptible to value players

High proportion private pay → economic sensitivity

Back to basics to drive growth in the premium market: Introduce differentiated new products

T3 implants, Encode abutments, comprehensive regenerative line, streamlined instrumentarium

Support clinicians with practice building, training and education offerings

Add feet on the street in key markets

Evaluating “make v buy” entry into value market segment to enhance long-term growth potential

Restore Dental Growth: Back to Basics

T3® Implant

-10%

-5%

0%

5%

10%

15%

20%

FY07 FY08 FY09 FY10 FY11 FY12 FY13

3i Growth (WW) Premium Market (WW) Growth Trends

NStride™ APS

• Early Stage Osteoarthritis Autologous Therapy

• First in Human Safety Studies in Progress

Rejuvesol®

• Red Blood Cell Rejuvenation of Aged, Donated Blood

• Restores Oxygen Transport Capabilities

• Recent FDA approval for Blood Bank application • Ongoing work to expand market opportunity to point of

care application

MarrowStim® PAD

• Critical Limb Ischemia (CLI) – Revascularization Autologous Stem Cell Therapy for late stage patients

• Expanded Clinical Studies in Development

18 Increased Investment in High-Value Biologics Programs

Potential platform for expansion in adjacent segments

Invest in Both Emerging Markets & Attractive Low-Share Developed Markets 19

Biomet International has delivered rapid growth by focusing on

both developed and emerging markets

Developed Markets

Led by strong share gains in Japan

Opportunities in Australia

Emerging Markets

Strong base in China

Seasoned Management Team delivering above Market Growth

~1,000 Team Members between 2 manufacturing plants & a direct selling organization

Continue to Expand Distribution

Potential for growth in other emerging markets

Biomet International

Fiscal 2007

Fiscal 2013

CAGR ’07 - ’13

Int’l Net Sales $ 205.1 M $ 480.5 M 15.2%

% of Consolidated Net Sales 9.7% 15.7%

20

Innovation in Product Delivery & Working Capital Management Today Limited data on surgeon preference and patient Hospitals hold excess Biomet inventory & multiple instrument sets Future Digital templating for vast majority of surgeries Patient-specific procedure kits delivered Just In Time Benefits Biomet

Working capital efficiency, easier launches Surgeon

More efficient OR, personalized service Hospital

More efficient OR, less storage/handling Patient

Personalized patient education, improved implant positioning

Improved Patient Experience &

Center-of-Excellence Designation

Improved quality & satisfaction

Maximized operating room efficiency

Targeted length of stay

Service optimization for Joint Replacement Centers of Excellence & Spine, Fracture /

Trauma, & Sports Medicine Practices

Sterilisation Biomet – Bridgend

Facility

Named Patient TKR Procedure

Pack

Just in Time Delivery

Theatre Care Rapide

*The Signature™ System was developed through a partnership with Materialise NV.

Creative Solutions that Deliver Value Efficiently in a Changing World Partnerships to Address Changing Customers

Value Creation Initiatives

Value Creation Program initiated post LBO in mid-2007 has delivered significant cash savings (+$100M) & EBITDA contribution (+$65M), while maintaining the highest levels of quality and customer service

Plant Network Optimization: Reduced Plant Facilities from 17 to 11 (including 2 new China plants) to Lower Cost of Production and Optimize Capacity Utilization

Lean Manufacturing

Strategic Sourcing

SIOP and Inventory Management

Program Now Embedded in Day to Day Operations

Pursuing additional COGS reduction opportunities to offset price pressures and device tax Relentless focus on lean manufacturing

Continue to Evaluate Plant Network in Light of Evolving Health Care Environment

Lower Global Distribution/Warehousing Costs and E&O Inventory

One Patient Solutions Initiative

Improving both efficiency and effectiveness in SG&A and R&D Global Orthopaedics Product Engine Structure

G&A Shared Service and Out-Sourcing Models

Lean and effective Corp HQ Infrastructure

Ensure Sales Force Structure and Service Levels Provide Acceptable ROI

21

($ in millions)

Q1 FY 2014

Q1 FY 2013 Growth

Net Sales $ 730.7 $ 707.4

3.3%

4.3% cc

Adjusted EBITDA(1) $ 246.3 $ 237.8 3.6%

Adjusted Net Income(1) $ 80.8 $ 60.4 33.8%

Total (Net Debt) Leverage Ratio(1) 5.2x 5.4x -

Q1 FY 2014 Financial Summary* 22

(1) As defined by our credit agreement *See Non-GAAP Financial Measures Disclosure on Slide 2

Summary

• From a $17,000 start-up company to a more than $3 billion worldwide enterprise in 35 years

• An unmatched culture of responsiveness to our customers

• A leading innovator in orthopedics

• A strong record of above market growth and excellent financial results

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