1. Orthofix International Stock Purchase Program HR International December 2015

2. Orthofix Stock Purchase Plan  Rules  Process  Enrollment  Documents  Examples & Simulation

3. Stock Purchase Plan (SPP) – Rules The current rules of the Orthofix International Stock Purchase Plan are:  SPP is an annual stock purchase plan for Orthofix employees  It runs from January to December  In January you can elect which amount or percentage you would like to contribute each month (from 1 to max. 25% of your salary or fixed amount) and you can’t change your contribution during the year  You can leave the plan at any time during the year, but entering is only possible in January  If you decide to leave the Plan, you can’t re-enter again in the same year  At the end of the year you can elect if you would like to buy Orthofix shares with your savings

4. Stock Purchase Plan (SPP) – Rules  If you decide not to buy shares, you get your money back (maybe with a little interest, but usually we put it in very safe accounts with no interest)  If you want to buy shares, you will get them at a discounted price – 85% of either the year starting or closing price (whichever is lower)  The amount of the discount is usually subject to income tax  You will receive an online stock trading account with “E-Trade” and you can sell the shares anytime you want

5. Stock Purchase Plan (SPP) – Process 1.HR sends a memo with the plan documents and the deadlines of the process to you in December 2.The enrollment will be done in the new HR system “Workday” between January 4 th and January 15 th. 3.Every month your elected amount/percentage will be deducted from your net pay 4.In December HR sends you a withdrawal form – if you do not withdraw, you have to buy the shares in January 5.In January HR sends you the “End of Plan Memo”, indicating the purchase prize, your total amount of shares and your taxable gain 6.HR informs payroll of the taxable gain to be included

6. Stock Purchase Plan (SPP) – Enrollment Please see seperate, detailed instruction manual for the enrollment process in Workday

7. Stock Purchase Plan (SPP) – Withdraw Form

8. Stock Purchase Plan (SPP) – End of Plan Memo

9. Stock Purchase Plan (SPP) - Examples  For 2014 we could buy the shares at this rate:  Recently the stock price was over $40  This is more than double the value! Recommendation: Use only money you have available after covering all of your expenses Make use of this company benefit. It is almost impossible to lose money due to the discount.

10. Stock Purchase Plan (SPP) - Simulation Monthly Gross Salary8.000,00 € Monthly Net Salary4.000,00 € Monthly Net Deduction/SPP Contribution 800,00 €your choice, from 1% to max 15% of gross salary or fixed amount Annual Contribution in €9.600,00 € Annual Contribution in USD $ 11.520,00 Exchange Rate EUR-USD $ 1,20example exchange rate Market Share Price January 1st $ 30,00 Market Share Price December 31st $ 25,00 Employee Purchase Price $ 21,2585% of which ever is lower (January or December) You can buy:542,117647number of shares = Contribtution $ / Purchase Price $ rounded:542shares (The excess of the money is reimbursed to you) Value of Discount/Taxable Gain in USD $ 2.710,00 Taxable Gain = Number of shares bought x amount of discount per share "Present" from the company = benefit Value of Discount/Taxable Gain in € 2.258,33 €

11. Stock Purchase Plan (SPP) - Simulation Income (Taxable Gain in EUR) Example Tax RateTax Amount Discount minus Tax Income tax *2.258,33 €30% 677,50 € 1.580,83 € *in Italy the income taxable gain is calculated considering the average of shares price in the previous month of the shares release

12. Thank you for your attention! For more details visit http://ir.orthofix.com/stockquote.cfm