8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of Earliest Event Reported) February 22, 2018

TELEFLEX INCORPORATED

(Exact name of Registrant as Specified in Its Charter)

Delaware	1-5353	23-1147939
(State or Other Jurisdiction of Incorporation or Organization)	(Commission File Number)	(IRS Employer Identification No.)

550 East Swedesford Road, Suite 400, Wayne, Pennsylvania		19087
(Address of Principal Executive Offices)		(Zip Code)
Registrant’s Telephone Number, Including Area Code	(610) 225-6800

Not applicable

(Former Name or Former Address, If Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 2.02. Results of Operations and Financial Condition.

On February 22, 2018, Teleflex Incorporated (the “Company”) issued a press release (the “Press Release”) announcing its financial results for the quarter and year ended December 31, 2017. A copy of the Press Release is furnished as Exhibit 99.1 to this Current Report.

In addition to the financial information included in the Press Release that has been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”), the Press Release includes certain non-GAAP financial measures. These measures include adjusted diluted earnings per share and constant currency revenue growth. Adjusted diluted earnings per share is based upon diluted earnings per share available to common stockholders, the most directly comparable GAAP measure, adjusted to exclude, depending on the period presented, the impact (net of tax) of (i) restructuring, restructuring related and impairment items; (ii) acquisition, integration and divestiture related items; (iii) other items identified in note (C) to the reconciliation tables set forth in the Press Release; (iv) amortization of debt discount on convertible notes; (v) intangible amortization expense; (vi) loss on extinguishment of debt and (vii) tax adjustments. Management does not believe that any of the excluded items are indicative of our underlying core performance or business trends. In addition, the calculation of the weighted average number of diluted shares within adjusted earnings per share gives effect to the anti-dilutive impact of shares due to the Company under its previously outstanding convertible note hedge agreements. The convertible note hedge agreements reduced the potential economic dilution that otherwise would have occurred upon conversion of the Company’s senior subordinated convertible notes (under GAAP, the anti-dilutive impact of the convertible note hedge agreements was not reflected in the weighted average number of diluted shares). We believe that an adjustment to show the anti-dilutive effect of the convertible note hedge agreements provides supplemental information that can be useful to investors in assessing the computation of diluted earnings per share. Constant currency revenue growth is based upon net revenues, adjusted to eliminate the impact of translating the results of international subsidiaries at different currency exchange rates from period to period. The impact of changes in foreign currency may vary significantly from period to period, and generally are outside of the control of our management. We believe that this measure facilitates a comparison of our operating performance exclusive of fluctuations that do not reflect our underlying performance or business trends.

Management uses these non-GAAP financial measures to assess the Company's financial performance, make operating decisions, allocate financial resources, provide guidance on possible future results, and assist in its evaluation of period-to-period and peer comparisons. The non-GAAP measures may be useful to investors because they provide insight into management’s assessment of our business, and provide supplemental information pertinent to a comparison of period-to-period results of our ongoing operations. The non-GAAP financial measures are presented in addition to results presented in accordance with GAAP and should not be relied upon as a substitute for GAAP financial measures. Moreover, our non-GAAP financial measures may not be comparable to similarly titled measures used by other companies.

The information furnished pursuant to Item 2.02 of this Current Report, including Exhibit 99.1 hereto, shall not be considered “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of such section, nor shall it be incorporated by reference into future filings by the Company under the Securities Act of 1933, as amended, or under the Securities Exchange Act of 1934, as amended, unless the Company expressly sets forth in such future filing that such information is to be considered "filed" or incorporated by reference therein.

Item 7.01. Regulation FD Disclosure.

In connection with the conference call to be held by the Company on February 22, 2018 to discuss its financial results for the quarter and year ended December 31, 2017, the Company plans to reference a slide presentation, which will be made available in advance of the call through the Company’s website. A copy of the slide presentation is furnished as Exhibit 99.2 to this Current Report.

The information furnished pursuant to Item 7.01 of this Current Report, including Exhibit 99.2, shall not be considered “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise

subject to the liability of such section, nor shall it be incorporated by reference into future filings by the Company under the Securities Act of 1933, as amended or under the Securities Exchange Act of 1934, as amended, unless the Company expressly sets forth in such future filing that such information is to be considered “filed” or incorporated by reference therein.

Item 8.01 Other Events.

On February 22, 2018, the Company made certain historical segment financial information available through its website. Specifically, in order to facilitate comparability of current to prior period revenues, the Company made available supplemental information (the “Supplemental Financial Information”) regarding net revenues from external customers by reportable segment for the quarters ended March 27, 2016, June 26, 2016, September 25, 2016, December, 31, 2016, April 2, 2017 and July 2, 2017, October 1, 2017 and December 31, 2017; and for the years ended December 31, 2015, 2016 and 2017 on a basis that was recast to reflect the Company’s current reportable segments, which were realigned in the fourth quarter of 2017 in connection with the reorganization of certain of the Company's businesses. A copy of the Supplemental Financial Information is furnished as Exhibit 99.3 to this Current Report.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

99.1Earnings Press Release, dated February 22, 2018

99.2Earnings Conference Call Slide Presentation

99.3Schedule of Segment Net Revenues

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: February 22, 2018 TELEFLEX INCORPORATED By: /s/ Thomas E. Powell Name: Thomas E. Powell Title: Executive Vice President and             Chief Financial Officer

EXHIBIT INDEX

Exhibit No.	Description
99.1	Earnings Press Release, dated February 22, 2018
99.2	Earnings Conference Call Slide Presentation
99.3	Schedule of Segment Net Revenues

EX-99.1

Exhibit 99.1

Jake Elguicze                       Treasurer and Vice President of Investor Relations       610-948-2836

FOR IMMEDIATE RELEASE February 22, 2018

TELEFLEX REPORTS FOURTH QUARTER AND FULL YEAR 2017 RESULTS; PROVIDES 2018 GUIDANCE

Fourth Quarter 2017 Revenues of $595.1 million, up 15.8% Versus Prior Year Period; up 12.6% on Constant Currency Basis

Fourth Quarter 2017 GAAP Diluted EPS of ($0.92), down 171.3% Versus Prior Year Period

Fourth Quarter 2017 Adjusted Diluted EPS of $2.44, up 14.6% Versus Prior Year Period

Full Year 2017 Revenues of $2,146.3 million, up 14.9% Versus Prior Year; up 14.1% on Constant Currency Basis

Full Year 2017 GAAP Diluted EPS of $3.33, down 33.1% Versus Prior Year

Full Year 2017 Adjusted Diluted EPS of $8.40, up 14.4% Versus Prior Year

2018 Guidance Range for GAAP Revenue Growth of 14% to 15%

2018 Guidance Range for Constant Currency Revenue Growth of 12% to 13%

2018 Guidance Range for GAAP Diluted EPS of $7.10 to $7.20

2018 Guidance Range for Adjusted Diluted EPS of $9.55 to $9.75

Wayne, PA -- Teleflex Incorporated (NYSE: TFX) (the “Company”) today announced financial results for the fourth quarter and full year ended December 31, 2017.

Fourth quarter 2017 net revenues were $595.1 million, an increase of 15.8% compared to the prior year period. Excluding the impact of foreign currency exchange rate fluctuations, fourth quarter 2017 net revenues increased 12.6% over the year ago period.

Fourth quarter 2017 GAAP diluted earnings per share from continuing operations decreased 171.3% to ($0.92), as compared to $1.29 in the prior year period. The decrease in GAAP diluted earnings per share from continuing operations is due to $107.9 million of tax expense reflecting the impact of the Tax Cuts and Jobs Act ("TCJA"),

which was enacted on December 22, 2017. Fourth quarter 2017 adjusted diluted earnings per share from continuing operations increased 14.6% to $2.44, compared to $2.13 in the prior year period.

Full year 2017 net revenues were $2,146.3 million, an increase of 14.9% compared to the prior year period. Excluding the impact of foreign currency exchange rate fluctuations, full year 2017 net revenues increased 14.1% over the year ago period.

Full year 2017 GAAP diluted earnings per share from continuing operations decreased 33.1% to $3.33, as compared to $4.98 in the prior year period. The decrease in GAAP diluted earnings per share from continuing operations is due to $107.9 million of tax expense reflecting the impact of the TCJA, which was enacted on December 22, 2017. Full year 2017 adjusted diluted earnings per share from continuing operations increased 14.4% to $8.40, compared to $7.34 in the prior year period.

Liam Kelly, President and Chief Executive Officer, said, “Despite modestly softer than expected sales in the fourth quarter, due in part to Vascular Solutions distributor go-directs within EMEA, we reported solid gross and operating margin performance in the period and delivered full year adjusted earnings per share results at the high-end of our guidance range. Following our acquisition of NeoTract, the business continues to perform at a high level, with UroLift experiencing deeper penetration of the BPH market. UroLift delivered $39 million in revenues for the fourth quarter, which represented growth of 121% year-over-year, and we remain excited about the long-term contributions the business will make to our revenue growth and margin profile.”

Added Mr. Kelly, “As we look into 2018, our new product launches, our acquisitions of Vascular Solutions and NeoTract, and gross and operating margin expansion programs give us confidence we can deliver double digit constant currency revenue growth and significant adjusted earnings per share expansion.”

FOURTH QUARTER AND FULL YEAR NET REVENUE BY SEGMENT

Following the Company's acquisition of Vascular Solutions, the Company commenced an integration program under which it is combining the Vascular Solutions business with some of its legacy businesses. Specifically, the Company is combining the Vascular Solutions North American business with the Company's interventional access business, which formerly was part of the Vascular North America operating segment, and the Company's cardiac business, which formerly was a separate operating segment included in the "all other" category for purposes of segment reporting. These businesses are now in the Company's Interventional North America operating segment. Additionally, the Company is combining the Vascular Solutions businesses in Europe, Asia and Latin America with the Company's legacy businesses in the respective locations, and these Vascular Solutions businesses are now part of the EMEA (Europe, Middle East and Africa), Asia and Latin America operating segments, respectively. The changes in the Company’s operating segments, which became effective in the fourth quarter 2017, also reflect the manner in which the Company’s new chief operating decision maker assesses business performance and allocation of resources.

As a result of the operating segment changes described above, the Company has the following seven reportable segments: Vascular North America, Interventional North America, Anesthesia North America, Surgical North

America, Europe, Middle East and Africa ("EMEA"), Asia and Original Equipment and Development Services ("OEM"). In connection with the presentation of segment information, we will continue to present certain operating segments, which now include Interventional Urology North America and Respiratory North America as well as Latin America, in the “all other” category because they are not material. All prior comparative periods presented in this release have been restated to reflect these changes.

The following tables provide information regarding net revenues in each of the Company's reportable operating segments and all of its other operating segments for the three and twelve months ended December 31, 2017 and December 31, 2016 on both a GAAP and constant currency basis. The discussion below the table of the principal factors behind changes in net revenues for the three months ended December 31, 2017 as compared to the prior year period applies to both GAAP revenue and constant currency revenue, although GAAP revenue also was affected by foreign currency exchange rate fluctuations, as indicated in the "Foreign Currency" column of the table.

	Three Months Ended				% Increase/ (Decrease)
	December 31, 2017		December 31, 2016		Constant Currency			Foreign Currency		Total Change
		(Dollars in millions)
Vascular North America	$	80.7	$	80.3	0.3		%	0.2	%	0.5		%
Interventional North America		61.7		22.2	177.2		%	0.4	%	177.6		%
Anesthesia North America		49.9		54.9	(9.4	)	%	0.2	%	(9.2	)	%
Surgical North America		43.7		48.3	(9.8	)	%	0.4	%	(9.4	)	%
EMEA		143.6		135.7	(2.0	)	%	7.8	%	5.8		%
Asia		78.8		73.0	4.5		%	3.5	%	8.0		%
OEM		46.0		45.3	(0.1	)	%	1.4	%	1.3		%
All Other		90.7		54.2	67.0		%	0.6	%	67.6		%
Total	$	595.1	$	513.9	12.6		%	3.2	%	15.8		%

	Twelve Months Ended				% Increase/ (Decrease)
	December 31, 2017		December 31, 2016		Constant Currency			Foreign Currency		Total Change
		(Dollars in millions)
Vascular North America	$	313.6	$	295.2	6.1		%	0.1	%	6.2		%
Interventional North America		220.6		82.4	167.5		%	0.1	%	167.6		%
Anesthesia North America		198.0		198.8	(0.5	)	%	0.1	%	(0.4	)	%
Surgical North America		175.2		172.2	1.6		%	0.1	%	1.7		%
EMEA		552.7		510.9	6.3		%	1.9	%	8.2		%
Asia		269.2		249.4	7.0		%	0.9	%	7.9		%
OEM		183.0		161.0	13.2		%	0.5	%	13.7		%
All Other		234.0		198.1	18.0		%	0.1	%	18.1		%
Total	$	2,146.3	$	1,868.0	14.1		%	0.8	%	14.9		%

Vascular North America fourth quarter 2017 net revenues were $80.7 million, an increase of 0.5% compared to the prior year period. Excluding the impact of foreign currency exchange rate fluctuations, fourth quarter 2017 net revenues increased 0.3% compared to the prior year period. The increase in constant currency revenue is primarily

attributable to higher sales volumes of existing products, despite the unfavorable impact of five fewer shipping days in the fourth quarter of 2017, and an increase in new product sales and price increases.

Interventional North America fourth quarter 2017 net revenues were $61.7 million, an increase of 177.6% compared to the prior year period. Excluding the impact of foreign currency exchange rate fluctuations, fourth quarter 2017 net revenues increased 177.2% compared to the prior year period. The increase in constant currency revenue is primarily attributable to net revenues generated by sales of Vascular Solutions' products. We acquired Vascular Solutions in February 2017.

Anesthesia North America fourth quarter 2017 net revenues were $49.9 million, a decrease of 9.2% compared to the prior year period. Excluding the impact of foreign currency exchange rate fluctuations, fourth quarter 2017 net revenues decreased 9.4% compared to the prior year period. The decrease in constant currency revenue is primarily attributable to a decline in sales volumes of existing products, due in part to five fewer shipping days in the fourth quarter of 2017, partially offset by an increase in net revenues generated by an acquired business and an increase in new product sales.

Surgical North America fourth quarter 2017 net revenues were $43.7 million, a decrease of 9.4% compared to the prior year period. Excluding the impact of foreign currency exchange rate fluctuations, fourth quarter 2017 net revenues decreased 9.8% compared to the prior year period. The decrease in constant currency revenue is primarily attributable to a decline in sales volumes of existing products, due in part to five fewer shipping days in the fourth quarter of 2017, partially offset by an increase in new product sales and price increases.

EMEA fourth quarter 2017 net revenues were $143.6 million, an increase of 5.8% compared to the prior year period. Excluding the impact of foreign currency exchange rate fluctuations, fourth quarter 2017 net revenues decreased 2.0% compared to the prior year period. The decrease in constant currency revenue is primarily attributable to a decline in sales volumes of existing products, due in part to five fewer shipping days in the fourth quarter of 2017, partially offset by net revenues generated by acquired businesses and an increase in new product sales.

Asia fourth quarter 2017 net revenues were $78.8 million, an increase of 8.0% compared to the prior year period. Excluding the impact of foreign currency exchange rate fluctuations, fourth quarter 2017 net revenues increased 4.5%. The increase in constant currency revenue is primarily attributable to net revenues generated by acquired businesses and price increases.

OEM fourth quarter 2017 net revenues were $46.0 million, an increase of 1.3% compared to the prior year period. Excluding the impact of foreign currency exchange rate fluctuations, fourth quarter 2017 net revenues decreased 0.1% compared to the prior year period. The decrease in constant currency revenue is primarily attributable to a decline in sales volumes of existing products, due in part to five fewer shipping days in the fourth quarter of 2017, partially offset by an increase in new product sales.

All Other fourth quarter 2017 net revenues were $90.7 million, an increase of 67.6% compared to the prior year period. Excluding the impact of foreign currency exchange rate fluctuations, fourth quarter 2017 net revenues increased 67.0% compared to the prior year period. The increase in constant currency revenue is primarily attributable to net revenues generated by NeoTract.

OTHER FINANCIAL HIGHLIGHTS AND KEY PERFORMANCE METRICS

Depreciation expense, amortization of intangible assets and deferred financing charges for 2017 totaled $160.3 million compared to $128.3 million for the prior year period.

Cash and cash equivalents at December 31, 2017 were $333.6 million compared to $543.8 million at December 31, 2016.

Net accounts receivable at December 31, 2017 were $345.9 million compared to $272.0million at December 31, 2016.

Net inventories at December 31, 2017 were $395.7 million compared to $316.2million at December 31, 2016.

2018 OUTLOOK

On a GAAP basis, revenues in 2018 are expected to increase 14% to 15% over the prior year, reflecting the anticipated 2.0% favorable impact of foreign currency exchange rate fluctuations. On a constant currency basis, the Company estimates that revenues for full year 2018 will increase 12% to 13%.

The Company expects full year 2018 GAAP diluted earnings per share from continuing operations to be between $7.10 and $7.20. The Company expects adjusted diluted earnings per share from continuing operations to be between $9.55 and $9.75 for full year 2018, representing an increase of 13.7% to 16.1% over 2017, reflecting our expectation of an approximately 3% positive impact from foreign currency exchange rate fluctuations.

Forecasted 2018 Constant Currency Revenue Growth Reconciliation

	Low			High
2018 GAAP revenue growth	14		%	15		%
Estimated impact of foreign currency exchange rate fluctuations	(2	)	%	(2	)	%
2018 constant currency revenue growth	12		%	13		%

Forecasted 2018 Adjusted Earnings Per Share Reconciliation

	Low	High
Diluted earnings per share attributable to common shareholders	$7.10	$7.20
Restructuring, restructuring related and impairment items, net of tax	$0.17	$0.20
Acquisition, integration and divestiture related items, net of tax	$0.27	$0.30
Other items, net of tax	$0.01	$0.02
Intangible amortization expense, net of tax	$2.00	$2.03
Adjusted diluted earnings per share	$9.55	$9.75

CONFERENCE CALL WEBCAST AND ADDITIONAL INFORMATION

As previously announced, Teleflex will comment on its financial results on a conference call to be held today at 8:00 a.m. (ET). The call will be available live and archived on the company’s website at www.teleflex.comand the accompanying presentation will be posted prior to the call. An audio replay will be available until February 27, 2018 at 11:59pm (ET), by calling 855-859-2056 (U.S./Canada) or 404-537-3406 (International), Passcode: 6373419.

ADDITIONAL NOTES

References in this release to the impact of foreign currency exchange rate fluctuations on adjusted diluted earnings per share include both the impact of translating foreign currencies into U.S. dollars and the impact of foreign currency exchange rate fluctuations on foreign currency denominated transactions.

In the discussion of segment results, "new products" refers to products we have sold commercially within the past 36 months and "existing products" refers to products we have sold commercially for more than 36 months.

Certain financial information is presented on a rounded basis, which may cause minor differences.

Segment results and commentary exclude the impact of discontinued operations.

NOTES ON NON-GAAP FINANCIAL MEASURES

We report our financial results in accordance with accounting principles generally accepted in the United States, commonly referred to as “GAAP.” In this press release, we provide supplemental information, consisting of the following non-GAAP financial measures: adjusted diluted earnings per share and constant currency revenue growth. These non-GAAP measures are described in more detail below. Management uses these financial measures to assess Teleflex’s financial performance, make operating decisions, allocate financial resources, provide guidance on possible future results, and assist in its evaluation of period-to-period and peer comparisons. The non-GAAP measures may be useful to investors because they provide insight into management’s assessment of our business, and provide supplemental information pertinent to a comparison of period-to-period results of our ongoing operations. The non-GAAP financial measures are presented in addition to results presented in accordance with GAAP and should not be relied upon as a substitute for GAAP financial measures. Moreover, our non-GAAP financial measures may not be comparable to similarly titled measures used by other companies.

Tables reconciling historical adjusted diluted earnings per share to historical GAAP diluted earnings per share are set forth below. Tables reconciling changes in historical constant currency net revenues to historical GAAP net revenues are set forth above under “Fourth Quarter and Full Year Net Revenue by Segment”. Tables reconciling forecasted 2018 constant currency revenue growth and forecasted 2018 adjusted earnings per share to their respective most directly comparable forecasted GAAP measures, forecasted 2018 revenue growth and forecasted 2018 diluted earnings per share available to common stockholders, are set forth above under “2018 Outlook.”

Adjusted diluted earnings per share: This non-GAAP measure is based upon diluted earnings per share available to common stockholders, the most directly comparable GAAP measure, adjusted to exclude, depending on the period presented, the impact (net of tax) of (i) restructuring, restructuring related and impairment items; (ii) acquisition, integration and divestiture related items; (iii) other items identified in note (C) to the reconciliation tables set forth below; (iv) amortization of debt discount on convertible notes; (v) intangible amortization expense; (vi) loss on extinguishment of debt and (vii) tax adjustments. Management does not believe that any of the excluded items are indicative of our underlying core performance or business trends.

In addition, the calculation of the weighted average number of diluted shares within adjusted earnings per share gives effect to the anti-dilutive impact of shares due to the Company under its previously outstanding convertible note hedge agreements. The convertible note hedge agreements reduced the potential economic dilution that otherwise would have occurred upon conversion of the Company’s senior subordinated convertible notes (under GAAP, the anti-dilutive impact of the convertible note hedge agreements was not reflected in the weighted average number of diluted shares). We believe that an adjustment to show the anti-dilutive effect of the convertible note hedge agreements provides supplemental information that can be useful to investors in assessing the computation of diluted earnings per share.

Constant currency revenue growth: This non-GAAP measure is based upon net revenues, adjusted to eliminate the impact of translating the results of international subsidiaries at different currency exchange rates from period to period. The impact of changes in foreign currency may vary significantly from period to period, and generally are outside of the control of our management. We believe that this measure facilitates a comparison of our operating performance exclusive of fluctuations that do not reflect our underlying performance or business trends.

RECONCILIATION OF CONSOLIDATED STATEMENT OF INCOME ITEMS

Dollars in millions, except per share amounts

Quarter Ended - December 31, 2017
	Cost of goods sold		Selling, general and administrative expenses		Research and development expenses		Restructuring and impairment charges	(Gain) loss on sale of business and assets	Interest expense, net		Income taxes			Net income (loss) attributable to common shareholders from continuing operations			Diluted earnings per share available to common shareholders			Shares used in calculation of GAAP and adjusted earnings per share
GAAP Basis	$	264.4	$	213.3	$	25.5	$1.1	—	$	23.5	$	110.2		$	42.8	)	$	0.92	)	46,636
Adjustments
Restructuring, restructuring related and impairment items (A)	3.9		0.3		0.3		1.1	—	—		1.8			3.7			$	0.08		—
Acquisition, integration and divestiture related items (B)	0.4		16.2		0.2		—	—	—		(2.8		)	19.5			$	0.42		—
Other items (C)	1.3		1.9		—		—	—	—		0.6			2.7			$	0.06		—
Amortization of debt discount on convertible notes (D)	—		—		—		—	—	—		—			—			—			—
Intangible amortization expense (E)	—		34.7		0.1		—	—	—		10.0			24.8			$	0.53		—
Loss on extinguishment of debt (F)	—		—		—		—	—	—		—			—			—			—
Tax adjustments (G)	—		—		—		—	—	—		(106.0		)	106.0			$	2.27		—
Shares due to Teleflex under note hedge (H)	—		—		—		—	—	—		—			—			—			—
Adjusted basis	$	258.8	$	160.2	$	24.9	—	—	$	23.5	$	13.9		$	113.7		$	2.44		46,636

Quarter Ended - December 31, 2016
	Cost of goods sold		Selling, general and administrative expenses			Research and development expenses		Restructuring and impairment charges	(Gain) loss on sale of business and assets			Interest expense, net		Income taxes			Net income (loss) attributable to common shareholders from continuing operations			Diluted earnings per share available to common shareholders			Shares used in calculation of GAAP and adjusted earnings per share
GAAP Basis	$	240.9	$	144.2		$	15.7	$46.4	$	0.2	)	$	16.2	$	10.1	)	$	60.9		$	1.29		47,112
Adjustments
Restructuring, restructuring related and impairment items (A)	3.7		0.5			0.0		46.4	—			—		18.0			32.5			$	0.69		—
Acquisition, integration and divestiture related items (B)	—		(5.1		)	—		—	(0.2		)	3.4		1.9			(3.7		)	$	0.08	)	—
Other items (C)	—		0.2			—		—	—			—		0.1			0.1			$0.00			—
Amortization of debt discount on convertible notes (D)	—		—			—		—	—			1.1		0.4			0.7			$	0.02		—
Intangible amortization expense (E)	—		15.9			0.1		—	—			—		4.0			12.0			$	0.26		—
Loss on extinguishment of debt (F)	—		—			—		—	—			—		0.0			0.0			$0.00			—
Tax adjustments (G)	—		—			—		—	—			—		4.9			(4.9		)	$	0.10	)	—
Shares due to Teleflex under note hedge (H)	—		—			—		—	—			—		—			—			$	0.06		(1,343	)
Adjusted basis	$	237.2	$	132.7		$	15.6	—	—			$	11.7	$	19.3		$	97.5		$	2.13		45,769

(A) Restructuring, restructuring related and impairment items - Restructuring programs involve discrete initiatives designed to, among other things, consolidate or relocate manufacturing, administrative and other facilities, improve operating efficiencies and integrate acquired businesses. Our restructuring charges consist of termination benefits, contract termination costs, facility closure costs and other exit costs associated with a specific restructuring program. Restructuring related charges are directly related to our restructuring programsand consist of facility consolidation costs, including accelerated depreciation expense related to facility closures, costs to transfer manufacturing operations between locations, and retention bonuses offered to certain employees as an incentive for them to remain with our company after completion of the restructuring program. For the three months ended December 31, 2017 and December 31, 2016, pre-tax restructuring related charges were $4.4 million and $4.2 million, respectively. There were no impairment items during the three months ended December 31, 2017. In the three months ended December 31, 2016, impairment items included (i) a pre-tax, non-cash $41.0 million impairment charge and a $14.9 million reduction in related deferred tax liabilities in connection with discontinuation of an in-process research and development project; (ii) $2.4 million in pre-tax, non-cash impairment charges related to two properties, one of which was classified as an asset held for sale; and (iii) a $0.7 million reduction in related deferred tax liabilities.

(B) Acquisition, integration and divestiture related items - Acquisition and integration expenses are incremental charges, other than restructuring or restructuring related expenses, that are directly related to specific business or asset acquisition transactions. These charges may include, among other things, professional, consulting and other fees; systems integration costs; legal entity restructuring expense; inventory step-up amortization (amortization, through cost of goods sold, of the increase in fair value of inventory resulting from a fair value calculation as of the acquisition date); fair value adjustments to contingent consideration; and bridge loan facility and backstop financing fees in connection with facilities that ultimately were not utilized. For the three months ended December 31, 2017, the majority of these charges were related to our acquisitions of Vascular Solutions and NeoTract. For the three months ended December 31, 2016, amounts attributable to these activities reflect reversals related to contingent consideration liabilities, including $8.3 million related to the discontinuation of an in-process research and development project, somewhat offset by acquisition costs. Divestiture related activities involve specific business or asset sales. Depending primarily on the terms of the divestiture transaction, the carrying value of the divested business or assets on our financial statements and other costs we incur as a direct result of the divestiture transaction, we may recognize a gain or loss in connection with the divestiture related activities.

(C) Other items - These are discrete items that occur sporadically and can affect period-to-period comparisons. For the three months ended December 31, 2017, these items included both gains and losses associated with litigation settlements, the reversal of previously recognized income due to distributor acquisitions related to Vascular Solutions, the reversal of previously recognized income due to our distributor conversion in China, and relabeling costs. For the three months ended December 31, 2016, these items included relabeling costs.

(D) Amortization of debt discount on convertible notes - When we sold $400 million principal amount of our 3.875% convertible notes (the “convertible notes”) in 2010, we allocated the proceeds between the liability and equity components of the debt, in accordance with GAAP. As a result, the $83.7 million difference between the proceeds of the sale of the convertible notes and the liability component of the debt constituted a debt discount that was to be amortized to interest expense over the approximately seven-year term of the convertible notes, which significantly increased the amount we recorded as interest expense attributable to the convertible notes. The amount of the amortization of the debt discount was reduced as a result of our repurchases of convertible notes in 2016 and 2017 and redemptions of the convertible notes by holders of the notes, although we continued to amortize the remaining portion of the debt discount to interest expense until August 2017, when all remaining convertible notes were either converted or matured.

(E) Intangible amortization expense - Certain intangible assets, including customer relationships, intellectual property, distribution rights, trade names and non-competition agreements, initially are recorded at historical cost and then amortized over their respective estimated useful lives. The amount of such amortization can vary from period to period as a result of, among other things, business or asset acquisitions or dispositions.

(F) Loss on extinguishment of debt - In connection with debt refinancings, debt repayments, repurchases of convertible notes and redemptions of convertible notes, outstanding indebtedness is extinguished. These events, which have occurred from time to time on an irregular basis, have resulted in losses reflecting, among other things, unamortized debt issuance costs, as well as debt prepayment fees and premiums (including conversion premiums resulting from conversion of convertible securities).

(G) Tax adjustments - These adjustments represent the impact of the expiration of applicable statutes of limitations for prior year returns, the resolution of audits, the filing of amended returns with respect to prior tax years and/or tax law changes affecting our deferred tax liability. In addition, for the three months ended December 31, 2017, these items include tax expense associated with the TCJA, which was enacted on December 22, 2017.

(H) Adjusted diluted shares are calculated by giving effect to the anti-dilutive impact of the Company’s convertible note hedge agreements, which reduced the potential economic dilution that otherwise would have occurred upon conversion of the Company's convertible notes. Under GAAP, the anti-dilutive impact of the convertible note hedge agreements is not reflected in the weighted average number of diluted shares.

RECONCILIATION OF CONSOLIDATED STATEMENT OF INCOME ITEMS

Dollars in millions, except per share amounts

Year Ended - December 31, 2017
	Cost of goods sold		Selling, general and administrative expenses			Research and development expenses		Restructuring and impairment charges		(Gain) loss on sale of business and assets	Interest expense, net		Loss on extinguishment of debt, net	Income taxes			Net income (loss) attributable to common shareholders from continuing operations		Diluted earnings per share available to common shareholders		Shares used in calculation of GAAP and adjusted earnings per share
GAAP Basis	$	974.5	$	700.0		$	84.8	$	14.8	—	$	81.8	$5.6	$	129.6		$	155.3	$	3.33	46,664
Adjustments
Restructuring, restructuring related and impairment items (A)	12.7		0.8			1.0		14.8		—	—		—	9.1			20.3		$	0.44	—
Acquisition, integration and divestiture related items (B)	10.8		27.8			0.2		—		—	2.1		—	4.1			36.8		$	0.79	—
Other items (C)	1.3		(1.9		)	—		—		—	—		—	(1.1		)	0.6		$	0.01	—
Amortization of debt discount on convertible notes (D)	—		—			—		—		—	0.9		—	0.3			0.6		$	0.01	—
Intangible amortization expense (E)	—		98.3			0.4		—		—	—		—	27.7			71.1		$	1.52	—
Loss on extinguishment of debt (F)	—		—			—		—		—	—		5.6	2.0			3.5		$0.08		—
Tax Adjustments (G)	—		—			—		—		—	—		—	(101.4		)	101.4		$	2.17	—
Shares due to Teleflex under note hedge (H)	—		—			—		—		—	—		—	—			—		$	0.05	(280	)
Adjusted basis	$	949.6	$	574.9		$	83.1	—		—	$	78.8	—	$	70.3		$	389.5	$	8.40	46,384

Year Ended - December 31, 2016
	Cost of goods sold		Selling, general and administrative expenses			Research and development expenses		Restructuring and impairment charges		(Gain) loss on sale of business and assets			Interest expense, net		Loss on extinguishment of debt, net	Income taxes		Net income (loss) attributable to common shareholders from continuing operations			Diluted earnings per share available to common shareholders			Shares used in calculation of GAAP and adjusted earnings per share
GAAP Basis	$	871.8	$	563.3		$	58.6	$	59.2	$	4.4	)	$	54.5	$19.3	$	8.1	$	237.2		$	4.98		47,646
Adjustments
Restructuring, restructuring related and impairment items (A)	14.6		0.7			0.0		59.2		—			—		—	25.5		49.1			$	1.03		—
Acquisition, integration and divestiture related items (B)	—		(3.0		)	—		—		(4.4		)	3.4		—	1.2		(5.2		)	$	0.11	)	—
Other items (C)	—		0.5			0.0		—		—			—		—	0.2		0.4			$	0.01		—
Amortization of debt discount on convertible notes (D)	—		—			—		—		—			7.2		—	2.6		4.5			$	0.10		—
Intangible amortization expense (E)	—		63.1			0.4		—		—			—		—	16.1		47.4			$	0.99		—
Loss on extinguishment of debt (F)	—		—			—		—		—			—		19.3	7.0		12.2			$0.26			—
Tax adjustments (G)	—		—			—		—		—			—		—	10.7		(10.7		)	$	0.23	)	—
Shares due to Teleflex under note hedge (H)	—		—			—		—		—			—		—	—		—			$0.31			(2,025	)
Adjusted basis	$	857.3	$	502.0		$	58.1	—		—			$	43.9	—	$	71.5	$	334.8		$	7.34		45,621

(A) Restructuring, restructuring related and impairment items - Restructuring programs involve discrete initiatives designed to, among other things, consolidate or relocate manufacturing, administrative and other facilities, improve operating efficiencies and integrate acquired businesses. Our restructuring charges consist of termination benefits, contract termination costs, facility closure costs and other exit costs associated with a specific restructuring program. Restructuring related charges are directly related to our restructuring programsand consist of facility consolidation costs, including accelerated depreciation expense related to facility closures, costs to transfer manufacturing operations between locations, and retention bonuses offered to certain employees as an incentive for them to remain with our company after completion of the restructuring program. For the twelve months ended December 31, 2017 and December 31, 2016, pre-tax restructuring related charges were $14.6 million and$15.3 million. There were no impairment items during the twelve months ended December 31, 2017. In the twelve months ended December 31, 2016, impairment items included (i) a pre-tax, non-cash $41.0 million impairment charge and a $14.9 million reduction in related deferred tax liabilities in connection with discontinuation of an in-process research and development project; (ii) $2.4 million in pre-tax, non-cash impairment charges related to two properties, one of which was classified as an asset held for sale and (iii) a $0.7 million reduction in related deferred tax liabilities.

(B) Acquisition, integration and divestiture related items - Acquisition and integration expenses are incremental charges, other than restructuring or restructuring related expenses, that are directly related to specific business or asset acquisition transactions. These charges may include, among other things, professional, consulting and other fees; systems integration costs; legal entity restructuring expense; inventory step-up amortization (amortization, through cost of goods sold, of the increase in fair value of inventory resulting from a fair value calculation as of the acquisition date); fair value adjustments to contingent consideration; and bridge loan facility and backstop financing fees in connection with facilities that ultimately were not utilized. For the twelve months ended December 31, 2017, the majority of these charges were related to our acquisitions of Vascular Solutions and NeoTract. For the twelve months ended December 31, 2016, amounts attributable to these activities reflect reversals related to contingent consideration liabilities, including $8.3 million related to the discontinuation of an in-process research and development project, and the gain on a sale of assets, somewhat offset by acquisition costs. Divestiture related activities involve specific business or asset sales. Depending primarily on the terms of the divestiture transaction, the carrying value of the divested business or assets on our financial statements and other costs we incur as a direct result of the divestiture transaction, we may recognize a gain or loss in connection with the divestiture related activities.

(C) Other items - These are discrete items that occur sporadically and can affect period-to-period comparisons. For the twelve months ended December 31, 2017, these items included both gains and losses associated with litigation settlements, the reversal of previously recognized income due to distributor acquisitions related to Vascular Solutions, the reversal of previously recognized income due to our distributor conversion in China, and relabeling costs. For the twelve months ended December 31, 2016, these items included relabeling costs and costs associated with a facility that was exited.

(D) Amortization of debt discount on convertible notes - When we sold $400 million principal amount of our 3.875% convertible notes (the “convertible notes”) in 2010, we allocated the proceeds between the liability and equity components of the debt, in accordance with GAAP. As a result, the $83.7 million difference between the proceeds of the sale of the convertible notes and the liability component of the debt constituted a debt discount that was to be amortized to interest expense over the approximately seven-year term of the convertible notes, which significantly increased the amount we recorded as interest expense attributable to the convertible notes. The amount of the amortization of the debt discount was reduced as a result of our repurchases of convertible notes in 2016 and 2017 and redemptions of the convertible notes by holders of the notes, although we continued to amortize the remaining portion of the debt discount to interest expense until August 2017, when all remaining convertible notes were either converted or matured.

(E) Intangible amortization expense - Certain intangible assets, including customer relationships, intellectual property, distribution rights, trade names and non-competition agreements, initially are recorded at historical cost and then amortized over their respective estimated useful lives. The amount of such amortization can vary from period to period as a result of, among other things, business or asset acquisitions or dispositions.

(F) Loss on extinguishment of debt - In connection with debt refinancings, debt repayments, repurchases of convertible notes and redemptions of convertible notes, outstanding indebtedness is extinguished. These events, which have occurred from time to time on an irregular basis, have resulted in losses reflecting, among other things, unamortized debt issuance costs, as well as debt prepayment fees and premiums (including conversion premiums resulting from conversion of convertible securities).

(G) Tax adjustments - These adjustments represent the impact of the expiration of applicable statutes of limitations for prior year returns, the resolution of audits, the filing of amended returns with respect to prior tax years and/or tax law changes affecting our deferred tax liability. In addition, for the twelve months ended December 31, 2017, these items include tax expense associated with the TCJA, which was enacted on December 22, 2017.

(H) Adjusted diluted shares are calculated by giving effect to the anti-dilutive impact of the Company’s convertible note hedge agreements, which reduced the potential economic dilution that otherwise would have occurred upon conversion of the Company's convertible notes. Under GAAP, the anti-dilutive impact of the convertible note hedge agreements is not reflected in the weighted average number of diluted shares.

ABOUT TELEFLEX INCORPORATED

Teleflex is a global provider of medical technologies designed to improve the health and quality of people’s lives. We apply purpose driven innovation - a relentless pursuit of identifying unmet clinical needs - to benefit patients and healthcare providers. Our portfolio is diverse, with solutions in the fields of vascular and interventional access, surgical, anesthesia, cardiac care, urology, emergency medicine and respiratory care. Teleflex employees worldwide are united in the understanding that what we do every day makes a difference. For more information, please visit teleflex.com.

Teleflex is the home of Arrow^®, Deknatel^®, Hudson RCI^®, LMA^®, Pilling^®, Rusch^® and Weck^® - trusted brands united by a common sense of purpose.

CAUTION CONCERNING FORWARD-LOOKING INFORMATION

This press release contains forward-looking statements, including, but not limited to, the long-term contributions the NeoTract business is expected to make to the Company's revenue growth and margin profile, forecasted 2018 GAAP and constant currency revenue growth and GAAP and adjusted diluted earnings per share. Actual results could differ materially from those in the forward-looking statements due to, among other things, changes in business relationships with and purchases by or from major customers or suppliers; delays or cancellations in shipments; demand for and market acceptance of new and existing products; our inability to integrate acquired businesses into our operations, realize planned synergies and operate such businesses profitably in accordance

with our expectations; the inability of acquired businesses to generate revenues in accordance with our expectations; our inability to effectively execute our restructuring programs; our inability to realize anticipated savings from restructuring plans and programs; the impact of healthcare reform legislation and proposals to amend the legislation; changes in Medicare, Medicaid and third party coverage and reimbursements; competitive market conditions and resulting effects on revenues and pricing; increases in raw material costs that cannot be recovered in product pricing; global economic factors, including currency exchange rates, interest rates, sovereign debt issues and the impact of the United Kingdom's vote to leave the European Union; difficulties in entering new markets; general economic conditions; and other factors described or incorporated in our filings with the Securities and Exchange Commission, including our most recently filed Annual Report on Form 10-K.

TELEFLEX INCORPORATED

CONSOLIDATED STATEMENTS OF INCOME

	Three Months Ended December 31,						Twelve Months Ended December 31,
	2017			2016			2017			2016
	(Dollars and shares in thousands, except per share)
Net revenues	$	595,106		$	513,933		$	2,146,303		$	1,868,027
Cost of goods sold	264,375			240,881			974,501			871,827
Gross profit	330,731			273,052			1,171,802			996,200
Selling, general and administrative expenses	213,289			144,180			699,963			563,308
Research and development expenses	25,471			15,687			84,770			58,579
Restructuring and impairment charges	1,067			46,351			14,790			59,227
Gain on sale of assets	—			(194		)	—			(4,367		)
Income from continuing operations before interest, loss on extinguishment of debt and taxes	90,904			67,028			372,279			319,453
Interest expense	23,662			16,362			82,546			54,941
Interest income	(155		)	(150		)	(771		)	(474		)
Loss on extinguishment of debt	—			—			5,593			19,261
Income from continuing operations before taxes	67,397			50,816			284,911			245,725
Taxes on income from continuing operations	110,244			(10,060		)	129,648			8,074
Income from continuing operations	(42,847		)	60,876			155,263			237,651
Operating loss from discontinued operations	63			(806		)	(4,534		)	(922		)
Tax benefit on loss from discontinued operations	(126		)	(993		)	(1,801		)	(1,112		)
(Loss) income on discontinued operations	189			187			(2,733		)	190
Net income	(42,658		)	61,063			152,530			237,841
Less: Income from continuing operations attributable to noncontrolling interest	—			—			—			464
Net income attributable to common shareholders	$	(42,658	)	$	61,063		$	152,530		$	237,377
Earnings per share available to common shareholders:
Basic:
Income from continuing operations	$	(0.95	)	$	1.38		$	3.45		$	5.47
(Loss) income on discontinued operations	—			0.01			(0.06		)	0.01
Net income	$	(0.95	)	$	1.39		$	3.39		$	5.48
Diluted:
Income from continuing operations	$	(0.92	)	$	1.29		$	3.33		$	4.98
(Loss) income on discontinued operations	0.01			0.01			(0.06		)	—
Net income	$	(0.91	)	$	1.30		$	3.27		$	4.98
Dividends per share	$	0.34		$	0.34		$	1.36		$	1.36
Weighted average common shares outstanding:
Basic	45,093			44,058			45,004			43,325
Diluted	46,636			47,112			46,664			47,646
Amounts attributable to common shareholders:
Income from continuing operations, net of tax	$	(42,847	)	$	60,876		$	155,263		$	237,187
(Loss) income from discontinued operations, net of tax	189			187			(2,733		)	190
Net income	$	(42,658	)	$	61,063		$	152,530		$	237,377

TELEFLEX INCORPORATED

CONSOLIDATED BALANCE SHEETS

	December 31,
	2017			2,016
	(Dollars and shares in thousands, except per share)
ASSETS
Current assets
Cash and cash equivalents	$	333,558		$	543,789
Accounts receivable, net	345,875			271,993
Inventories, net	395,744			316,171
Prepaid expenses and other current assets	47,882			40,382
Prepaid taxes	5,748			8,179
Assets held for sale	—			2,879
Total current assets	1,128,807			1,183,393
Property, plant and equipment, net	382,999			302,899
Goodwill	2,235,592			1,276,720
Intangibles assets, net	2,383,748			1,091,663
Deferred tax assets	3,810			1,712
Other assets	46,536			34,826
Total assets	$	6,181,492		$	3,891,213
LIABILITIES AND EQUITY
Current liabilities
Current borrowings	$	86,625		$	183,071
Accounts payable	92,027			69,400
Accrued expenses	96,853			65,149
Current portion of contingent consideration	74,224			587
Payroll and benefit-related liabilities	107,415			82,679
Accrued interest	6,165			10,450
Income taxes payable	11,514			7,908
Other current liabilities	9,053			8,402
Total current liabilities	483,876			427,646
Long-term borrowings	2,162,927			850,252
Deferred tax liabilities	603,676			271,377
Pension and postretirement benefit liabilities	121,410			133,062
Noncurrent liability for uncertain tax positions	12,296			17,520
Noncurrent contingent consideration	197,912			6,516
Other liabilities	168,864			45,499
Total liabilities	3,750,961			1,751,872
Commitments and contingencies
Convertible notes - redeemable equity component	—			1,824
Mezzanine equity	—			1,824
Shareholders’ equity
Common shares, $1 par value Issued: 2017 - 46,871 shares; 2016 - 45,814 shares	46,871			45,814
Additional paid-in capital	591,721			506,800
Retained earnings	2,285,886			2,194,593
Accumulated other comprehensive loss	(265,091		)	(438,717		)
	2,659,387			2,308,490
Less: Treasury stock, at cost	228,856			170,973
Total shareholders' equity	2,430,531			2,137,517
Total liabilities and shareholders' equity	$	6,181,492		$	3,891,213

TELEFLEX INCORPORATED

CONSOLIDATED STATEMENTS OF CASH FLOWS

	Year Ended December 31,
	2017			2016
	(Dollars in thousands)
Cash flows from operating activities of continuing operations:
Net income	$	152,530		$	237,841
Adjustments to reconcile net income to net cash provided by operating activities:
Loss (income) from discontinued operations	2,733			(190		)
Depreciation expense	56,497			54,415
Amortization expense of intangible assets	98,766			63,491
Amortization expense of deferred financing costs and debt discount	5,075			10,440
Loss on extinguishment of debt	5,593			19,261
Fair value step up of acquired inventory sold	10,442			—
Changes in contingent consideration	3,575			(6,445		)
Impairment of long-lived assets	—			2,356
In-process research and development impairment charge	—			41,000
Stock-based compensation	19,407			16,871
Net gain on sales of businesses and assets	—			(4,367		)
Deferred income taxes, net	(41,822		)	(29,346		)
Other	(18,469		)	(13,311		)
Changes in operating assets and liabilities, net of effects of acquisitions and disposals:
Accounts receivable	(11,039		)	(11,029		)
Inventories	(22,363		)	6,408
Prepaid expenses and other current assets	547			(3,613		)
Accounts payable and accrued expenses	39,001			15,422
Income taxes receivable and payable, net	125,828			11,386
Net cash provided by operating activities from continuing operations	426,301			410,590
Cash flows from investing activities of continuing operations:
Expenditures for property, plant and equipment	(70,903		)	(53,135		)
Payments for businesses and intangibles acquired, net of cash acquired	(1,768,284		)	(14,040		)
Proceeds from sales of businesses and assets	6,332			10,201
Net cash used in investing activities from continuing operations	(1,832,855		)	(56,974		)
Cash flows from financing activities of continuing operations:
Proceeds from new borrowings	2,463,500			671,700
Reduction in borrowings	(1,239,576		)	(714,565		)
Debt extinguishment, issuance and amendment fees	(26,664		)	(8,958		)
Proceeds from share based compensation plans and the related tax impacts	5,571			9,068
Payments to noncontrolling interest shareholders	—			(464		)
Payments for acquisition of noncontrolling interest	—			(9,231		)
Payments for contingent consideration	(335		)	(7,282		)
Dividends	(61,237		)	(58,960		)
Net cash provided by (used in) financing activities from continuing operations	1,141,259			(118,692		)
Cash flows from discontinued operations:
Net cash used in operating activities	(6,416		)	(2,110		)
Net cash used in discontinued operations	(6,416		)	(2,110		)
Effect of exchange rate changes on cash and cash equivalents	61,480			(27,391		)
Net increase (decrease) in cash and cash equivalents	(210,231		)	205,423
Cash and cash equivalents at the beginning of the year	543,789			338,366
Cash and cash equivalents at the end of the year	$	333,558		$	543,789
Supplemental cash flow information:
Cash interest paid	$	74,256		$	44,203
Income taxes paid, net of refunds	$	49,144		$	23,955
Non cash investing and financing activities of continuing operations:
Purchases of businesses and related costs	$	261,733		$	—
Settlement and exchange of convertible notes with common or treasury stock	$	53,207		$	35,286
Acquisition of treasury stock from settlement and exchange of convertible note hedge and warrants	$	141,405		$	86,046

EX-99.2

1 Teleflex Incorporated Fourth Quarter 2017 Earnings Conference Call

2 Conference Call Logistics The release, accompanying slides, and replay webcast are available online at www.teleflex.com (click on “Investors”) Telephone replay available by dialing 855-859-2056 or for international calls, 404- 537-3406, pass code number 6373419 An accompanying supplemental schedule reconciling revenue segment changes is also available on the Teleflex investor relations website

3 Introductions Liam Kelly President and CEO Thomas Powell Executive Vice President and CFO Jake Elguicze Treasurer and Vice President of Investor Relations

4 Note on Forward-Looking Statements This presentation and our discussion contain forward-looking information and statements including, but not limited to, the expected impact of the expanded indications for the UroLift System; our expectations with regard to the impact of the Vascular Solutions distributor conversions completed in the fourth quarter of 2017; forecasted revenue and adjusted earnings per share for the NeoTract business; our 2018 commercial strategy for UroLift; forecasted 2018 GAAP and constant currency revenue growth, GAAP and adjusted gross and operating margins and adjusted earnings per share and the items that are expected to impact each of those forecasted results; our assumptions with respect to the euro to U.S. dollar exchange rate for 2018 and our adjusted weighted average shares for 2018; estimated pre-tax charges we expect to incur and annualized pre-tax savings we expect to realize in connection with our restructuring programs; our expectations with respect to when we will begin to realize savings from our restructuring programs and when those programs will be substantially completed; and other matters which inherently involve risks and uncertainties which could cause actual results to differ from those projected or implied in the forward–looking statements. These risks and uncertainties are addressed in our SEC filings, including our most recent Form 10-K. Note on Non-GAAP Financial Measures This presentation refers to certain non-GAAP financial measures, including, but not limited to, constant currency revenue growth, organic constant currency revenue growth, adjusted diluted earnings per share, adjusted gross and operating margins and adjusted tax rate. These non-GAAP financial measures should not be considered replacements for, and should be read together with, the most comparable GAAP financial measures. Tables reconciling these non-GAAP financial measures to the most comparable GAAP financial measures are contained within this presentation and the appendices to this presentation. Additional Notes Unless otherwise noted, the following slides reflect continuing operations.

5 4Q17 Highlights Note: See appendices for reconciliations of non-GAAP information NeoTract business continues strong momentum, delivering $39 million in 4Q’17 revenues, up 121% year-over-year Recently received FDA clearance for expanded indications for UroLift® System further positions product offering for future growth Vascular solutions adds 8% to Teleflex’s constant currency revenue growth in 4Q’17 Vascular Solutions growth in 4Q’17 temporarily impacted by distributor conversions Completion of Vascular Solutions distributor conversions in 4Q’17 position product lines for revenue tailwind in 2018 Two Scale Acquisitions Continue to Transform Our Portfolio Constant currency revenue growth from new products continues to accelerate as we exit the year Excluding impact of fewer shipping days, constant currency revenue growth strong in Vascular North America and Interventional North America Temporary softness in EMEA, and delayed distributor orders impact certain North America-based strategic business units Strength in New Products Offset by Order Timing and EMEA Delivered 270 bps of adjusted gross margin expansion year over year Delivered 40 bps of adjusted operating margin expansion year over year Long term margin expansion objectives remain intact Solid Margin Expansion and Adjusted EPS Performance

6 4Q and FY17 Financial Summary Fourth quarter 2017 revenue of $595.1 million • Up 15.8% vs. prior year period on an as-reported basis • Up 12.6% vs. prior year period on a constant currency basis Fourth quarter 2017 Earnings Per Share • GAAP EPS of ($0.92), down 171.3% vs. prior year period • Adjusted EPS of $2.44, up 14.6% vs. prior year period Full year 2017 revenue of $2.146 billion • Up 14.9% vs. prior year on an as-reported basis • Up 14.1% vs. prior year on a constant currency basis Full year 2017 Earnings Per Share • GAAP EPS of $3.33, down 33.1% vs. prior year • Adjusted EPS of $8.40, up 14.4% vs. prior year Note: See appendices for reconciliations of non-GAAP information

7 4Q Constant Currency Revenue Growth Note: See appendices for reconciliations of non-GAAP information Q4 2017 Constant Currency Revenue Growth New Product introductions 2.0% Price 0.7% Volume (excluding shipping day impact) (0.9%) Shipping Day Impact (5.0%) Vascular Solutions 8.0% NeoTract 7.4% Other M&A 0.4% Constant Currency Revenue Growth 12.6%

8 Segment Revenue Review Q4’17 Q4’16 Constant Currency Revenue Commentary Vascular N.A.: $80.7 million, up 0.3% Surgical N.A.: $43.7 million, down 9.8% Anesthesia N.A.: $49.9 million, down 9.4% Interventional N.A.: $61.7 million, up 177.2% Note: Increases and decreases in revenue referred to above are as compared to results for the fourth quarter of 2016. See appendices for reconciliations of non-GAAP information and for a reconciliation of segment reporting changes. 14% 7% 9% 10% 24% 13% 8% 15% Vascular North America Surgical North America Anesthesia North America Interventional North America EMEA Asia OEM All Other EMEA: $143.6 million, down 2.0% Asia: $78.8 million, up 4.5% OEM: $46.0 million, down 0.1% All Other: $90.7 million, up 67.0% 16% 9% 11% 4% 26% 14% 9% 11% Vascular North America Surgical North America Anesthesia North America Interventional North America EMEA Asia OEM All Other

9 Acquisition Update Integration on Schedule − Management team intact − No regrettable sales force turnover − Continue to nurture high performing culture − Maintain employee engagement − Investing to ensure that hyper-growth revenue trajectory continues 2017 Financial Results and Forward Looking Financial Expectations − 2017 revenue of $125.5 million, up 149% year-over-year − 2017 revenue of $125.5 million exceeded previously provided expectations, which called for revenue of between $115 million and $120 million − 2018 revenue expected to grow at least 40% over 2017 levels − Slightly dilutive to adjusted earnings per share1 in 2017 − Expect breakeven to adjusted earnings per share1 in 2018, with significant accretion thereafter including $0.35 to $0.40 of adjusted earnings per share1 accretion in 2019 1 - Adjusted earnings per share excludes specified items such as amortization of acquired intangibles, inventory step-up, restructuring costs and other costs incurred to execute the transaction. Adjusted earnings per share is a non-GAAP financial measure and should not be considered a replacement for GAAP results.

10 Acquisition Update 2018 UroLift Commercial Strategy Drive utilization in current accounts Begin early majority market penetration Leverage expanded reimbursement coverage

11 Product Introductions and Regulatory Approvals UroLift® Obstructive Median Lobe US only 510(k) Recently received FDA 510(k) clearance for changes to the IFU for both UroLift and UroLift 2 devices:  Removal of obstructive median lobe contraindication  Addition of a median lobe indication  Lowered minimum age to men 45 and older (previous IFU 50 and older) Expands addressable US market by ~1.9M patients; UroLift now addresses ~90%-95% of the US market1,2,3,4 Strengthens market leadership position Methodical sales training process throughout 2018 Median Lobe Lateral Lobe Bladder Prostate KEY TAKEAWAYS 1. NeoTract estimates based on IMS Health Data from Market Model 2017-19 for Investors 2-28-17 FINAL 2. Doo, Urology 2009; 73: 232-236. Ultrasound study of 157 men presenting with LUTS. Obstructive Middle Lobe was defined as high intravesical prostatic protrusion (IPP: grade 3, >10mm into bladder) and calculated as all patients with prostate contour Type 2 (2.5%) + 73.3% of patients with contour Type 3 (19.1%) = 16.5%. 3. Eckhardt, Neurourol and Urodynamics 2001; 20: 579-590; This paper discusses prostate volume distribution among 565 men with LUTS/BPH and suggests ~5% are > 80cc. 4. Mochtar, Eur Urol 2003; 44: 695-700; This paper discusses prostate volume distribution among 1859men with LUTS/BPH and suggests ~5-10% are > 80cc.

12 Product Introductions and Regulatory Approvals RePlas® Freeze-Dried Plasma Regulatory Update and Timeline FDA and DoD launch joint program to expedite medical products intended to save lives of US Military; including freeze-dried plasma Dec 2017 Jan 2018 FDA confirms accelerated BLA approval pathway; confirmatory efficacy study required post-approval RePlas FDP Unit (equivalent to one FFP unit) Sterile Water for Injection (SWFI) 250ml Fluid Transfer Set Blood Set for Transfusion Internal corrugated tube protects against 1,000 lbs. of force

13 Fourth Quarter Financial Review Revenue of $595.1 million • Up 15.8% vs. prior year period on an as-reported basis • Up 12.6% vs. prior year period on a constant currency basis Gross Margin • GAAP gross margin of 55.6%, up 250 bps vs. prior year period • Adjusted gross margin of 56.5%, up 270 bps vs. prior year period Operating Margin • GAAP operating margin of 15.3%, up 230 bps vs. prior year period • Adjusted operating margin of 25.4%, up 40 bps vs. prior year period Tax Rate • GAAP tax rate of 163.6%, compared to (19.8%) in prior year period • Adjusted tax rate of 10.9%, down 560 bps vs. prior year period Earnings Per Share • GAAP EPS of ($0.92), down 171.3% vs. prior year period • Adjusted EPS of $2.44, up 14.6% vs. prior year period Note: See appendices for reconciliations of non-GAAP information

14 2018 Financial Outlook Assumptions 2018 revenue guidance assumes a modest improvement in base business revenue growth rates from 2017 levels, and an acceleration in total organic constant currency revenue growth due to acquisitions of NeoTract and Vascular Solutions 1 = includes approximately 1.5% of contribution from Vascular Solutions and NeoTract volume and new products. 2018 Guidance 2017 Low High Actual GAAP Revenue Growth 14.0% 15.0% 14.9% Impact of Foreign Currency Exchange Rate Fluctuations 2.0% 2.0% 0.8% Constant Currency Revenue Growth 12.0% 13.0% 14.1% M&A 7.0% 7.5% 10.9% Organic Constant Currency Revenue Growth1 5.0% 5.5% 3.2%

15 2018 Financial Outlook Assumptions 2018 Adjusted Gross Margin Drivers Gross margin expansion in 2018 as compared to 2017 expected to be driven by: • NeoTract and Vascular Solutions acquisitions • Cost improvement programs • Benefits from previously announced restructuring plans Note: figures represent adjusted gross margin. See Appendices for reconciliation of actual and forecasted GAAP results to actual and forecasted adjusted results. 54.1% 55.8% 57.5% to 58.0% 45% 50% 55% 60% 2016 2017 2018E +170 bps to +220 bps +170 bps

16 2018 Financial Outlook Assumptions 2018 Adjusted Operating Margin Drivers Improved financial leverage generated during 2016 and 2017 expected to continue in 2018 Adjusted gross margin improvement expected to contribute between 170 and 220 basis points Addition of NeoTract, coupled with recently completed Vascular Solutions distributor to direct sales force conversions, cause year-over- year increase in operating expenses as a percentage of revenue Note: figures represent adjusted operating margin. See Appendices for reconciliation of actual and forecasted GAAP results to actual and forecasted adjusted results. 24.1% 25.1% 26.1% to 26.5% 15% 17% 19% 21% 23% 25% 27% 2016 2017 2018E +100 bps to +140 bps +100 bps

17 2018 Financial Outlook Assumptions Vascular Solutions and NeoTract, coupled with continued contribution from our base business, expected to lead to 2018 adjusted EPS growth of 13.7% to 16.1% Note: see Appendices for tables reconciling actual and forecasted adjusted earnings per share results to actual and forecasted GAAP earnings per share results. Base Business, VSI, and NeoTract $1.61 $1.71 Foreign currency exchange rates $0.26 $0.26 Taxes ($0.07) $0.03 Weighted average shares ($0.10) ($0.10) Interest Expense ($0.55) ($0.55) 2017 Adjusted Earnings per Share 2018 Adjusted Earnings per Share Low High 2018 Guidance $9.55 $9.75 $8.40 $8.40

18 Any Questions?

19 Thank You

20 Appendices

21 Non-GAAP Financial Measures The presentation to which these appendices are attached and the following appendices include, among other things, tables reconciling the following non-GAAP financial measures to the most comparable GAAP financial measure: • Constant currency revenue growth. This measure excludes the impact of translating the results of international subsidiaries at different currency exchange rates from period to period. • Organic constant currency revenue growth. This measure excludes (i) the impact of translating the results of international subsidiaries at different currency exchange rates from period to period; and (ii) the results of acquired businesses (other than acquired distributors) for the first 12 months following the acquisition date. • Adjusted diluted earnings per share. This measure excludes, depending on the period presented the impact of (i) restructuring, restructuring related and impairment items; (ii) acquisition, integration and divestiture related items; (iii) other items identified in note (C) to the reconciliation tables appearing in Appendices H, I, J and K; (iv) amortization of the debt discount on the Company’s previously outstanding convertible notes; (v) intangible amortization expense; (vi) loss on extinguishment of debt; and (vii) tax adjustments identified in note (G) to the reconciliation tables appearing in Appendices H, I, J and K. In addition, the calculation of diluted shares within adjusted earnings per share gives effect to the anti-dilutive impact of the Company’s previously outstanding convertible note hedge agreements, which reduced the potential economic dilution that otherwise would have occurred upon conversion of the Company’s senior subordinated convertible notes (under GAAP, the anti-dilutive impact of the convertible note hedge agreements is not reflected in diluted shares). • Adjusted gross profit and margin. These measures exclude, depending on the period presented, the impact of (i) restructuring, restructuring related and impairment items, (ii) acquisition, integration and divestiture related items and (iii) other items identified in note (c) to the reconciliation table appearing in Appendices D and E. • Adjusted operating profit and margin. These measures exclude, depending on the period presented, (i) the impact of restructuring, restructuring related and impairment items; (ii) acquisitions, integration and divestiture related items; (iii) other items identified in note (C) to the reconciliation table appearing in Appendices F and G; and (iv) intangible amortization expense. • Adjusted tax rate. This measure is the percentage of the Company’s adjusted taxes on income from continuing operations to its adjusted income from continuing operations before taxes. Adjusted taxes on income from continuing operations excludes, depending on the period presented, the impact of tax benefits or costs associated with (i) restructuring, restructuring related and impairment items; (ii) acquisition, integration and divestiture related items; (iii) other items identified in note (A) to the reconciliation table appearing in Appendices L and M; (iv) amortization of the debt discount on the Company’s previously outstanding convertible notes; (v) intangible amortization expense; and (v) tax adjustments identified in note (B) to the reconciliation tables appearing in Appendices L and M.

22 APPENDIX A – RECONCILIATION OF CONSTANT CURRENCY REVENUE GROWTH DOLLARS IN MILLIONS December 31, 2017 December 31, 2016 Constant Currency Currency Total Vascular North America 80.7$ 80.3$ 0.3% 0.2% 0.5% Interventional North America 61.7 22.2 177.2% 0.4% 177.6% Anesthesia North America 49.9 54.9 (9.4%) 0.2% (9.2%) Surgical North America 43.7 48.3 (9.8%) 0.4% (9.4%) EMEA 143.6 135.7 (2.0%) 7.8% 5.8% Asia 78.8 73.0 4.5% 3.5% 8.0% OEM 46.0 45.3 (0.1%) 1.4% 1.3% All Other 90.7 54.2 67.0% 0.6% 67.6% Net Revenues 595.1$ 513.9$ 12.6% 3.2% 15.8% Three Months Ended % Increase / (Decrease)

23 APPENDIX B – RECONCILIATION OF CONSTANT CURRENCY REVENUE GROWTH DOLLARS IN MILLIONS December 31, 2017 December 31, 2016 Constant Currency Currency Total Vascular North America 313.6$ 295.2$ 6.1% 0.1% 6.2% Interventional North America 220.6 82.4 167.5% 0.1% 167.6% Anesthesia North America 198.0 198.8 (0.5%) 0.1% (0.4%) Surgical North America 175.2 172.2 1.6% 0.1% 1.7% EMEA 552.7 510.9 6.3% 1.9% 8.2% Asia 269.2 249.4 7.0% 0.9% 7.9% OEM 183.0 161.0 13.2% 0.5% 13.7% All Other 234.0 198.1 18.0% 0.1% 18.1% Net Revenues 2,146.3$ 1,868.0$ 14.1% 0.8% 14.9% Twelve Months Ended % Increase / (Decrease)

24 APPENDIX C – RECONCILIATION OF REVENUE GROWTH DOLLARS IN MILLIONS % Basis Points Three Months Ended December 31, 2016 Revenue As-Reported 513.9$ Foreign Currency 14.7$ 3.2% 320 Volume (exclding the impact of shipping days) (4.9)$ -0.9% -90 Shipping Day Impact (26.7)$ -5.0% -500 New Product Sales 10.7$ 2.0% 200 Pricing 3.8$ 0.7% 70 Acquisitions1 83.6$ 15.8% 1,580 Three Months Ended December 31, 2017 Revenue As-Reported 595.1$ 15.8% 1 = Includes: Vascular Solutions 42.4$ 8.0% NeoTract 39.0$ 7.4% Other Acquisitions 2.2$ 0.4% Year-Over-Year Growth

25 APPENDIX D – RECONCILIATION OF ADJUSTED GROSS PROFIT AND MARGIN DOLLARS IN THOUSANDS (A) Restructuring programs involve discrete initiatives designed to, among other things, consolidate or relocate manufacturing, administrative and other facilities, improve operating efficiencies and integrate acquired businesses. Our restructuring charges consist of termination benefits, contract termination costs, facility closure costs and other exit costs associated with a specific restructuring program. Restructuring related charges are directly related to our restructuring programs and consist of facility consolidation costs, including accelerated depreciation expense related to facility closures, costs to transfer manufacturing operations between locations, and retention bonuses offered to certain employees as an incentive for them to remain with our company after completion of the restructuring program. (B) Acquisition and integration expenses are incremental charges, other than restructuring or restructuring related expenses, that are directly related to specific business or asset acquisition transactions. These charges may include, among other things, professional, consulting and other fees; systems integration costs; legal entity restructuring expense; inventory step-up amortization (amortization, through cost of goods sold, of the increase in fair value of inventory resulting from a fair value calculation as of the acquisition date); fair value adjustments to contingent consideration; and bridge loan facility and backstop financing fees in connection with facilities that ultimately were not utilized. Divestiture related activities involve specific business or asset sales. Depending primarily on the terms of the divestiture transaction, the carrying value of the divested business or assets on our financial statements and other costs we incur as a direct result of the divestiture transaction, we may recognize a gain or loss in connection with the divestiture related activities. (C) These are discrete items that occur sporadically and can affect period-to-period comparisons. For the three months ended December 31, 2017, these items included the reversal of previously recognized income due to distributor acquisitions related to Vascular Solutions. December 31, 2017 December 31, 2016 Teleflex gross profit as-reported 330,731$ 273,052$ Teleflex gross margin as-reported 55.6% 53.1% Restructuring, restructuring related and impairment items (A) 3,850 3,686 Acquisition, integration and divestiture related items (B) 353 - Other items (C) 1,347 - Adjusted Teleflex gross profit 336,281$ 276,738$ Adjusted Teleflex gross margin 56.5% 53.8% Teleflex revenue as-reported 595,106$ 513,933$ Three Months Ended

26 APPENDIX E – RECONCILIATION OF ADJUSTED GROSS PROFIT AND MARGIN DOLLARS IN THOUSANDS (A) Restructuring programs involve discrete initiatives designed to, among other things, consolidate or relocate manufacturing, administrative and other facilities, improve operating efficiencies and integrate acquired businesses. Our restructuring charges consist of termination benefits, contract termination costs, facility closure costs and other exit costs associated with a specific restructuring program. Restructuring related charges are directly related to our restructuring programs and consist of facility consolidation costs, including accelerated depreciation expense related to facility closures, costs to transfer manufacturing operations between locations, and retention bonuses offered to certain employees as an incentive for them to remain with our company after completion of the restructuring program. (B) Acquisition and integration expenses are incremental charges, other than restructuring or restructuring related expenses, that are directly related to specific business or asset acquisition transactions. These charges may include, among other things, professional, consulting and other fees; systems integration costs; legal entity restructuring expense; inventory step-up amortization (amortization, through cost of goods sold, of the increase in fair value of inventory resulting from a fair value calculation as of the acquisition date); fair value adjustments to contingent consideration; and bridge loan facility and backstop financing fees in connection with facilities that ultimately were not utilized. Divestiture related activities involve specific business or asset sales. Depending primarily on the terms of the divestiture transaction, the carrying value of the divested business or assets on our financial statements and other costs we incur as a direct result of the divestiture transaction, we may recognize a gain or loss in connection with the divestiture related activities. (C) These are discrete items that occur sporadically and can affect period-to-period comparisons. For the twelve months ended December 31, 2017, these items included the reversal of previously recognized income due to distributor acquisitions related to Vascular Solutions. December 31, 2017 December 31, 2016 Teleflex gross profit as-reported 1,171,802$ 996,200$ Teleflex gross margin as-reported 54.6% 53.3% Restructuring, restructuring related and impairment items (A) 12,730 14,559 Acquisition, integration and divestiture related items (B) 10,795 - Other items (C) 1,347 - Adjusted Teleflex gross profit 1,196,674$ 1,010,759$ Adjusted Teleflex gross margin 55.8% 54.1% Teleflex revenue as-reported 2,146,303$ 1,868,027$ Year Ended

27 APPENDIX F – RECONCILIATION OF ADJUSTED OPERATING PROFIT AND MARGIN DOLLARS IN THOUSANDS (A) Restructuring programs involve discrete initiatives designed to, among other things, consolidate or relocate manufacturing, administrative and other facilities, improve operating efficiencies and integrate acquired businesses. Our restructuring charges consist of termination benefits, contract termination costs, facility closure costs and other exit costs associated with a specific restructuring program. Restructuring related charges are directly related to our restructuring programs and consist of facility consolidation costs, including accelerated depreciation expense related to facility closures, costs to transfer manufacturing operations between locations, and retention bonuses offered to certain employees as an incentive for them to remain with our company after completion of the restructuring program. (B) Acquisition and integration expenses are incremental charges, other than restructuring or restructuring related expenses, that are directly related to specific business or asset acquisition transactions. These charges may include, among other things, professional, consulting and other fees; systems integration costs; legal entity restructuring expense; inventory step-up amortization (amortization, through cost of goods sold, of the increase in fair value of inventory resulting from a fair value calculation as of the acquisition date); fair value adjustments to contingent consideration; and bridge loan facility and backstop financing fees in connection with facilities that ultimately were not utilized. For the three months ended December 31, 2017, the majority of these charges were related to our acquisitions of Vascular Solutions and NeoTract. Divestiture related activities involve specific business or asset sales. Depending primarily on the terms of the divestiture transaction, the carrying value of the divested business or assets on our financial statements and other costs we incur as a direct result of the divestiture transaction, we may recognize a gain or loss in connection with the divestiture related activities. (C) These are discrete items that occur sporadically and can affect period-to-period comparisons. For the three months ended December 31, 2017, these items included both gains and losses associated with litigation settlements, the reversal of previously recognized income due to distributor acquisitions related to Vascular Solutions, the reversal of previously recognized income due to our distributor conversion in China, and relabeling costs. (D) Certain intangible assets, including customer relationships, intellectual property, distribution rights, trade names and non-competition agreements, initially are recorded at historical cost and then amortized over their respective estimated useful lives. The amount of such amortization can vary from period to period as a result of, among other things, business or asset acquisitions or dispositions. December 31, 2017 December 31, 2016 Teleflex income from continuing operations before interest, loss on extinguishment of debt and taxes 90,904$ 67,028$ Teleflex income from continuing operations before interest, loss on extinguishment of debt and taxes margin 15.3% 13.0% Restructuring, restructuring related and impairment items (A) 5,501 50,554 Acquisition, integration and divestiture related items (B) 16,746 (5,273) Other items (C) 3,235 152 Intangible amortization expense (D) 34,790 16,005 Adjusted Teleflex income from continuing operations before interest, loss on extinguishment of debt and taxes 151,176$ 128,465$ Adjusted Teleflex income from continuing operations before interest, loss on extinguishment of debt and taxes margin 25.4% 25.0% Teleflex revenue as-reported 595,106$ 513,933$ Three Months Ended

28 APPENDIX G – RECONCILIATION OF ADJUSTED OPERATING PROFIT AND MARGIN DOLLARS IN THOUSANDS (A) Restructuring programs involve discrete initiatives designed to, among other things, consolidate or relocate manufacturing, administrative and other facilities, improve operating efficiencies and integrate acquired businesses. Our restructuring charges consist of termination benefits, contract termination costs, facility closure costs and other exit costs associated with a specific restructuring program. Restructuring related charges are directly related to our restructuring programs and consist of facility consolidation costs, including accelerated depreciation expense related to facility closures, costs to transfer manufacturing operations between locations, and retention bonuses offered to certain employees as an incentive for them to remain with our company after completion of the restructuring program. (B) Acquisition and integration expenses are incremental charges, other than restructuring or restructuring related expenses, that are directly related to specific business or asset acquisition transactions. These charges may include, among other things, professional, consulting and other fees; systems integration costs; legal entity restructuring expense; inventory step-up amortization (amortization, through cost of goods sold, of the increase in fair value of inventory resulting from a fair value calculation as of the acquisition date); fair value adjustments to contingent consideration; and bridge loan facility and backstop financing fees in connection with facilities that ultimately were not utilized. For the twelve months ended December 31, 2017, the majority of these charges were related to our acquisitions of Vascular Solutions and NeoTract. Divestiture related activities involve specific business or asset sales. Depending primarily on the terms of the divestiture transaction, the carrying value of the divested business or assets on our financial statements and other costs we incur as a direct result of the divestiture transaction, we may recognize a gain or loss in connection with the divestiture related activities. (C) These are discrete items that occur sporadically and can affect period-to-period comparisons. For the twelve months ended December 31, 2017, these items included both gains and losses associated with litigation settlements, the reversal of previously recognized income due to distributor acquisitions related to Vascular Solutions, the reversal of previously recognized income due to our distributor conversion in China, and relabeling costs. (D) Certain intangible assets, including customer relationships, intellectual property, distribution rights, trade names and non-competition agreements, initially are recorded at historical cost and then amortized over their respective estimated useful lives. The amount of such amortization can vary from period to period as a result of, among other things, business or asset acquisitions or dispositions. December 31, 2017 December 31, 2016 Teleflex income from continuing operations before interest, loss on extinguishment of debt and taxes 372,279$ 319,453$ Teleflex income from continuing operations before interest, loss on extinguishment of debt and taxes margin 17.3% 17.1% Restructuring, restructuring related and impairment items (A) 29,371 74,559 Acquisition, integration and divestiture related items (B) 38,802 (7,399) Other items (C) (551) 572 Intangible amortization expense (D) 98,766 63,491 Adjusted Teleflex income from continuing operations before interest, loss on extinguishment of debt and taxes 538,667$ 450,676$ Adjusted Teleflex income from continuing operations before interest, loss on extinguishment of debt and taxes margin 25.1% 24.1% Teleflex revenue as-reported 2,146,303$ 1,868,027$ Year Ended

29 APPENDIX H – RECONCILIATION OF ADJUSTED EPS FROM CONTINUING OPERATIONS QUARTER ENDED – DECEMBER 31, 2017 DOLLARS IN MILLIONS, EXCEPT PER SHARE DATA Cost of goods sold Selling, general and administrative expenses Research and development expenses Restructuring and impairment charges (Gain) loss on sale of business and assets Interest expense, net Income taxes Net income (loss) attributable to common shareholders from continuing operations Diluted earnings per share available to common shareholders Shares used in calculation of GAAP and adjusted earnings per share GAAP Basis $264.4 $213.3 $25.5 $1.1 — $23.5 $110.2 ($42.8) ($0.92) 46,636 Adjustments Restructuring, restructuring related and impairment items (A) 3.9 0.3 0.3 1.1 — — 1.8 3.7 $0.08 — Acquisition, integration and divestiture related items (B) 0.4 16.2 0.2 — — — (2.8) 19.5 $0.42 — Other items (C) 1.3 1.9 — — — — 0.6 2.7 $0.06 — Amortization of debt discount on convertible notes (D) — — — — — — — — — — Intangible amortization expense (E) — 34.7 0.1 — — — 10.0 24.8 $0.53 — Loss on extinguishment of debt (F) — — — — — — — — — — Tax adjustments (G) — — — — — — (106.0) 106.0 $2.27 — Shares due to Teleflex under note hedge (H) — — — — — — — — — — Adjusted basis $258.8 $160.2 $24.9 — — $23.5 $13.9 $113.7 $2.44 46,636

30 APPENDIX I – RECONCILIATION OF ADJUSTED EPS FROM CONTINUING OPERATIONS QUARTER ENDED – DECEMBER 31, 2016 DOLLARS IN MILLIONS, EXCEPT PER SHARE DATA Cost of goods sold Selling, general and administrative expenses Research and development expenses Restructuring and impairment charges (Gain) loss on sale of business and assets Interest expense, net Income taxes Net income (loss) attributable to common shareholders from continuing operations Diluted earnings per share available to common shareholders Shares used in calculation of GAAP and adjusted earnings per share GAAP Basis $240.9 $144.2 $15.7 $46.4 ($0.2) $16.2 ($10.1) $60.9 $1.29 47,112 Adjustments Restructuring, restructuring related and impairment items (A) 3.7 0.5 0.0 46.4 — — 18.0 32.5 $0.69 — Acquisition, integration and divestiture related items (B) — (5.1) — — (0.2) 3.4 1.9 (3.7) ($0.08) — Other items (C) — 0.2 — — — — 0.1 0.1 $0.00 — Amortization of debt discount on convertible notes (D) — — — — — 1.1 0.4 0.7 $0.02 — Intangible amortization expense (E) — 15.9 0.1 — — — 4.0 12.0 $0.26 — Loss on extinguishment of debt (F) — — — — — — 0.0 0.0 $0.00 — Tax adjustments (G) — — — — — — 4.9 (4.9) ($0.10) — Shares due to Teleflex under note hedge (H) — — — — — — — — $0.06 (1,343) Adjusted basis $237.2 $132.7 $15.6 — — $11.7 $19.3 $97.5 $2.13 45,769

31 APPENDICES H AND I – TICKMARKS (A) Restructuring, restructuring related and impairment items - Restructuring programs involve discrete initiatives designed to, among other things, consolidate or relocate manufacturing, administrative and other facilities, improve operating efficiencies and integrate acquired businesses. Our restructuring charges consist of termination benefits, contract termination costs, facility closure costs and other exit costs associated with a specific restructuring program. Restructuring related charges are directly related to our restructuring programs and consist of facility consolidation costs, including accelerated depreciation expense related to facility closures, costs to transfer manufacturing operations between locations, and retention bonuses offered to certain employees as an incentive for them to remain with our company after completion of the restructuring program. For the three months ended December 31, 2017 and December 31, 2016, pre-tax restructuring related charges were $4.4 million and $4.2 million, respectively. There were no impairment items during the three months ended December 31, 2017. In the three months ended December 31, 2016, impairment items included (i) a pre-tax, non-cash $41.0 million impairment charge and a $14.9 million reduction in related deferred tax liabilities in connection with discontinuation of an in-process research and development project; (ii) $2.4 million in pre-tax, non-cash impairment charges related to two properties, one of which was classified as an asset held for sale; and (iii) a $0.7 million reduction in related deferred tax liabilities. (B) Acquisition, integration and divestiture related items - Acquisition and integration expenses are incremental charges, other than restructuring or restructuring related expenses, that are directly related to specific business or asset acquisition transactions. These charges may include, among other things, professional, consulting and other fees; systems integration costs; legal entity restructuring expense; inventory step-up amortization (amortization, through cost of goods sold, of the increase in fair value of inventory resulting from a fair value calculation as of the acquisition date); fair value adjustments to contingent consideration; and bridge loan facility and backstop financing fees in connection with facilities that ultimately were not utilized. For the three months ended December 31, 2017, the majority of these charges were related to our acquisitions of Vascular Solutions and NeoTract. For the three months ended December 31, 2016, amounts attributable to these activities reflect reversals related to contingent consideration liabilities, including $8.3 million related to the discontinuation of an in-process research and development project, somewhat offset by acquisition costs. Divestiture related activities involve specific business or asset sales. Depending primarily on the terms of the divestiture transaction, the carrying value of the divested business or assets on our financial statements and other costs we incur as a direct result of the divestiture transaction, we may recognize a gain or loss in connection with the divestiture related activities. (C) Other items - These are discrete items that occur sporadically and can affect period-to-period comparisons. For the three months ended December 31, 2017, these items included both gains and losses associated with litigation settlements, the reversal of previously recognized income due to distributor acquisitions related to Vascular Solutions, the reversal of previously recognized income due to our distributor conversion in China, and relabeling costs. For the three months ended December 31, 2016, these items included relabeling costs. (D) Amortization of debt discount on convertible notes - When we sold $400 million principal amount of our 3.875% convertible notes (the “convertible notes”) in 2010, we allocated the proceeds between the liability and equity components of the debt, in accordance with GAAP. As a result, the $83.7 million difference between the proceeds of the sale of the convertible notes and the liability component of the debt constituted a debt discount that was to be amortized to interest expense over the approximately seven year term of the convertible notes, which significantly increased the amount we recorded as interest expense attributable to the convertible notes. The amount of the amortization of the debt discount was reduced as a result of our repurchases of convertible notes in 2016 and 2017 and redemptions of the convertible notes by holders of the notes, although we continued to amortize the remaining portion of the debt discount to interest expense until August 2017, when all remaining convertible notes were either converted or matured. (E) Intangible amortization expense - Certain intangible assets, including customer relationships, intellectual property, distribution rights, trade names and non-competition agreements, initially are recorded at historical cost and then amortized over their respective estimated useful lives. The amount of such amortization can vary from period to period as a result of, among other things, business or asset acquisitions or dispositions. (F) Loss on extinguishment of debt - In connection with debt refinancings, debt repayments, repurchases of convertible notes and redemptions of convertible notes, outstanding indebtedness is extinguished. These events, which have occurred from time to time on an irregular basis, have resulted in losses reflecting, among other things, unamortized debt issuance costs, as well as debt prepayment fees and premiums (including conversion premiums resulting from conversion of convertible securities). (G) Tax adjustments - Tax adjustments - These adjustments represent the impact of the expiration of applicable statutes of limitations for prior year returns, the resolution of audits, the filing of amended returns with respect to prior tax years and/or tax law changes affecting our deferred tax liability. In addition, for the three months ended December 31, 2017, these items include tax expense associated with the Tax Cuts and Jobs Act (“TCJA”), which was enacted on December 22, 2017. (H) Adjusted diluted shares are calculated by giving effect to the anti-dilutive impact of the Company’s previously outstanding convertible note hedge agreements, which reduced the potential economic dilution that otherwise would have occurred upon conversion of the Company's convertible notes. Under GAAP, the anti-dilutive impact of the convertible note hedge agreements is not reflected in the weighted average number of diluted shares.

32 APPENDIX J – RECONCILIATION OF ADJUSTED EPS FROM CONTINUING OPERATIONS YEAR ENDED – DECEMBER 31, 2017 DOLLARS IN MILLIONS, EXCEPT PER SHARE DATA Cost of goods sold Selling, general and administrative expenses Research and development expenses Restructuring and impairment charges (Gain) loss on sale of business and assets Interest expense, net Loss on extinguishment of debt, net Income taxes Net income (loss) attributable to common shareholders from continuing operations Diluted earnings per share available to common shareholders Shares used in calculation of GAAP and adjusted earnings per share GAAP Basis $974.5 $700.0 $84.8 $14.8 — $81.8 $5.6 $129.6 $155.3 $3.33 46,664 Adjustments Restructuring, restructuring related and impairment items (A) 12.7 0.8 1.0 14.8 — — — 9.1 20.3 $0.44 — Acquisition, integration and divestiture related items (B) 10.8 27.8 0.2 — — 2.1 — 4.1 36.8 $0.79 — Other items (C) 1.3 (1.9) — — — — — (1.1) 0.6 $0.01 — Amortization of debt discount on convertible notes (D) — — — — — 0.9 — 0.3 0.6 $0.01 — Intangible amortization expense (E) — 98.3 0.4 — — — — 27.7 71.1 $1.52 — Loss on extinguishment of debt (F) — — — — — — 5.6 2.0 3.5 $0.08 — Tax adjustments (G) — — — — — — — (101.4) 101.4 $2.17 — Shares due to Teleflex under note hedge (H) — — — — — — — — — $0.05 (280) Adjusted basis $949.6 $574.9 $83.1 — — $78.8 — $70.3 $389.5 $8.40 46,384

33 APPENDIX K – RECONCILIATION OF ADJUSTED EPS FROM CONTINUING OPERATIONS YEAR ENDED – DECEMBER 31, 2016 DOLLARS IN MILLIONS, EXCEPT PER SHARE DATA Cost of goods sold Selling, general and administrative expenses Research and development expenses Restructuring and impairment charges (Gain) loss on sale of business and assets Interest expense, net Loss on extinguishment of debt, net Income taxes Net income (loss) attributable to common shareholders from continuing operations Diluted earnings per share available to common shareholders Shares used in calculation of GAAP and adjusted earnings per share GAAP Basis $871.8 $563.3 $58.6 $59.2 ($4.4) $54.5 $19.3 $8.1 $237.2 $4.98 47,646 Adjustments Restructuring, restructuring related and impairment items (A) 14.6 0.7 0.0 59.2 — — — 25.5 49.1 $1.03 — Acquisition, integration and divestiture related items (B) — (3.0) — — (4.4) 3.4 — 1.2 (5.2) ($0.11) — Other items (C) — 0.5 0.0 — — — — 0.2 0.4 $0.01 — Amortization of debt discount on convertible notes (D) — — — — — 7.2 — 2.6 4.5 $0.10 — Intangible amortization expense (E) — 63.1 0.4 — — — — 16.1 47.4 $0.99 — Loss on extinguishment of debt (F) — — — — — — 19.3 7.0 12.2 $0.26 — Tax adjustments (G) — — — — — — — 10.7 (10.7) ($0.23) — Shares due to Teleflex under note hedge (H) — — — — — — — — — $0.31 (2,025) Adjusted basis $857.3 $502.0 $58.1 — — $43.9 — $71.5 $334.8 $7.34 45,621

34 APPENDICES J AND K – TICKMARKS (A) Restructuring, restructuring related and impairment items - Restructuring programs involve discrete initiatives designed to, among other things, consolidate or relocate manufacturing, administrative and other facilities, improve operating efficiencies and integrate acquired businesses. Our restructuring charges consist of termination benefits, contract termination costs, facility closure costs and other exit costs associated with a specific restructuring program. Restructuring related charges are directly related to our restructuring programs and consist of facility consolidation costs, including accelerated depreciation expense related to facility closures, costs to transfer manufacturing operations between locations, and retention bonuses offered to certain employees as an incentive for them to remain with our company after completion of the restructuring program. For the twelve months ended December 31, 2017 and December 31, 2016, pre-tax restructuring related charges were $14.6 million and $15.3 million. There were no impairment items during the twelve months ended December 31, 2017. In the twelve months ended December 31, 2016, impairment items included (i) a pre-tax, non-cash $41.0 million impairment charge and a $14.9 million reduction in related deferred tax liabilities in connection with discontinuation of an in-process research and development project; (ii) $2.4 million in pre-tax, non-cash impairment charges related to two properties, one of which was classified as an asset held for sale and (iii) a $0.7 million reduction in related deferred tax liabilities. (B) Acquisition, integration and divestiture related items - Acquisition and integration expenses are incremental charges, other than restructuring or restructuring related expenses, that are directly related to specific business or asset acquisition transactions. These charges may include, among other things, professional, consulting and other fees; systems integration costs; legal entity restructuring expense; inventory step-up amortization (amortization, through cost of goods sold, of the increase in fair value of inventory resulting from a fair value calculation as of the acquisition date); fair value adjustments to contingent consideration; and bridge loan facility and backstop financing fees in connection with facilities that ultimately were not utilized. For the twelve months ended December 31, 2017, the majority of these charges were related to our acquisitions of Vascular Solutions and NeoTract. For the twelve months ended December 31, 2016, amounts attributable to these activities reflect reversals related to contingent consideration liabilities, including $8.3 million related to the discontinuation of an in-process research and development project, and the gain on a sale of assets, somewhat offset by acquisition costs. Divestiture related activities involve specific business or asset sales. Depending primarily on the terms of the divestiture transaction, the carrying value of the divested business or assets on our financial statements and other costs we incur as a direct result of the divestiture transaction, we may recognize a gain or loss in connection with the divestiture related activities. (C) Other items - These are discrete items that occur sporadically and can affect period-to-period comparisons. For the twelve months ended December 31, 2017, these items included both gains and losses associated with litigation settlements, the reversal of previously recognized income due to distributor acquisitions related to Vascular Solutions, the reversal of previously recognized income due to our distributor conversion in China, and relabeling costs. For the twelve months ended December 31, 2016, these items included relabeling costs and costs associated with a facility that was exited. (D) Amortization of debt discount on convertible notes - When we sold $400 million principal amount of our 3.875% convertible notes (the “convertible notes”) in 2010, we allocated the proceeds between the liability and equity components of the debt, in accordance with GAAP. As a result, the $83.7 million difference between the proceeds of the sale of the convertible notes and the liability component of the debt constituted a debt discount that was to be amortized to interest expense over the approximately seven year term of the convertible notes, which significantly increased the amount we recorded as interest expense attributable to the convertible notes. The amount of the amortization of the debt discount was reduced as a result of our repurchases of convertible notes in 2016 and 2017 and redemptions of the convertible notes by holders of the notes, although we continued to amortize the remaining portion of the debt discount to interest expense until August 2017, when all remaining convertible notes were either converted or matured. (E) Intangible amortization expense - Certain intangible assets, including customer relationships, intellectual property, distribution rights, trade names and non-competition agreements, initially are recorded at historical cost and then amortized over their respective estimated useful lives. The amount of such amortization can vary from period to period as a result of, among other things, business or asset acquisitions or dispositions. (F) Loss on extinguishment of debt - In connection with debt refinancings, debt repayments, repurchases of convertible notes and redemptions of convertible notes, outstanding indebtedness is extinguished. These events, which have occurred from time to time on an irregular basis, have resulted in losses reflecting, among other things, unamortized debt issuance costs, as well as debt prepayment fees and premiums (including conversion premiums resulting from conversion of convertible securities). (G) Tax adjustments - These adjustments represent the impact of the expiration of applicable statutes of limitations for prior year returns, the resolution of audits, the filing of amended returns with respect to prior tax years and/or tax law changes affecting our deferred tax liability. In addition, for the twelve months ended December 31, 2017, these items include tax expense associated with the TCJA, which was enacted on December 22, 2017. (H) Adjusted diluted shares are calculated by giving effect to the anti-dilutive impact of the Company’s previously outstanding convertible note hedge agreements, which reduced the potential economic dilution that otherwise would have occurred upon conversion of the Company's convertible notes. Under GAAP, the anti-dilutive impact of the convertible note hedge agreements is not reflected in the weighted average number of diluted shares.

35 APPENDIX L – RECONCILIATION OF ADJUSTED TAX RATE DOLLARS IN THOUSANDS (A) Other items - These are discrete items that occur sporadically and can affect period-to-period comparisons. For the three months ended December 31, 2017, these items included both gains and losses associated with litigation settlements, the reversal of previously recognized income due to distributor acquisitions related to Vascular Solutions, the reversal of previously recognized income due to our distributor conversion in China, and relabeling costs. For the three months ended December 31, 2016, these items included relabeling costs. (B) Tax adjustments - These adjustments represent the impact of the expiration of applicable statutes of limitations for prior year returns, the resolution of audits, the filing of amended returns with respect to prior tax years and/or tax law changes affecting our deferred tax liability. In addition, for the three months ended December 31, 2017, these items include tax expense associated with the TCJA, which was enacted on December 22, 2017. Three Months Ended December 31, 2017 Income from continuing operations before taxes Taxes on income from continuing operations Tax rate GAAP basis $67,397 $110,244 163.6% Restructuring, restructuring related and impairment items 5,501 1,838 Acquisition, integration and divestiture related items 16,746 (2,767) Other items (A) 3,235 573 Amortization of debt discount on convertible notes 0 0 Intangible amortization expense 34,790 10,022 Tax adjustment (B) 0 (105,973) Adjusted basis $127,669 $13,937 10.9% Three Months Ended December 31, 2016 GAAP basis $50,816 ($10,060) -19.8% Restructuring, restructuring related and impairment items 50,554 18,045 Acquisition, integration and divestiture related items (1,894) 1,850 Other items (A) 152 80 Amortization of debt discount on convertible notes 1,125 417 Intangible amortization expense 16,005 3,984 Tax adjustment (B) 0 4,942 Adjusted basis $116,757 $19,258 16.5%

36 APPENDIX M – RECONCILIATION OF ADJUSTED TAX RATE DOLLARS IN THOUSANDS (A) Other items - These are discrete items that occur sporadically and can affect period-to-period comparisons. For the twelve months ended December 31, 2017, these items included both gains and losses associated with litigation settlements, the reversal of previously recognized income due to distributor acquisitions related to Vascular Solutions, the reversal of previously recognized income due to our distributor conversion in China, and relabeling costs. For the twelve months ended December 31, 2016, these items included relabeling costs and costs associated with a facility that was exited. (B) Tax adjustments - These adjustments represent the impact of the expiration of applicable statutes of limitations for prior year returns, the resolution of audits, the filing of amended returns with respect to prior tax years and/or tax law changes affecting our deferred tax liability. In addition, for the twelve months ended December 31, 2017, these items include tax expense associated with the TCJA, which was enacted on December 22, 2017. Year Ended December 31, 2017 Income from continuing operations before taxes Taxes on income from continuing operations Tax rate GAAP basis $284,911 $129,648 45.5% Restructuring, restructuring related and impairment items 29,371 9,055 Acquisition, integration and divestiture related items 40,873 4,059 Other items (A) (551) (1,145) Amortization of debt discount on convertible notes 881 322 Intangible amortization expense 98,766 27,690 Loss on extinguishment of debt 5,593 2,046 Tax adjustment (B) 0 (101,352) Adjusted basis $459,844 $70,323 15.3% Year Ended December 31, 2016 GAAP basis $245,725 $8,074 3.3% Restructuring, restructuring related and impairment items 74,559 25,463 Acquisition, integration and divestiture related items (4,020) 1,224 Other items (A) 572 215 Amortization of debt discount on convertible notes 7,154 2,616 Intangible amortization expense 63,491 16,102 Loss on extinguishment of debt 19,261 7,046 Tax adjustment (B) 0 10,742 Adjusted basis $406,741 $71,482 17.6%

37 APPENDIX N – RECONCILIATION OF 2018 CONSTANT CURRENCY REVENUE GROWTH GUIDANCE Low High Forecasted GAAP Revenue Growth 14.0% 15.0% Estimated Impact of Foreign Currency Exchange Rate Fluctuations -2.0% -2.0% Forecasted Constant Currency Revenue Growth 12.0% 13.0%

38 APPENDIX O – RECONCILIATION OF 2018 ADJUSTED GROSS MARGIN GUIDANCE Low High Forecasted GAAP Gross Margin 57.1% 57.7% Restructuring, restructuring related and impairment items (A) 0.35% 0.30% Acquisition, integration and divestiture related items (B) 0.05% 0.00% Forecasted Adjusted Gross Margin 57.5% 58.0% (A) Restructuring programs involve discrete initiatives designed to, among other things, consolidate or relocate manufacturing, administrative and other facilities, improve operating efficiencies and integrate acquired businesses. Our restructuring charges consist of termination benefits, contract termination costs, facility closure costs and other exit costs associated with a specific restructuring program. Restructuring related charges are directly related to our restructuring programs and consist of facility consolidation costs, including accelerated depreciation expense related to facility closures, costs to transfer manufacturing operations between locations, and retention bonuses offered to certain employees as an incentive for them to remain with our company after completion of the restructuring program. (B) Acquisition and integration expenses are incremental charges, other than restructuring or restructuring related expenses, that are directly related to specific business or asset acquisition transactions. These charges may include, among other things, professional, consulting and other fees; systems integration costs; legal entity restructuring expense; inventory step-up amortization (amortization, through cost of goods sold, of the increase in fair value of inventory resulting from a fair value calculation as of the acquisition date); fair value adjustments to contingent consideration; and bridge loan facility and backstop financing fees in connection with facilities that ultimately were not utilized. Divestiture related activities involve specific business or asset sales. Depending primarily on the terms of the divestiture transaction, the carrying value of the divested business or assets on our financial statements and other costs we incur as a direct result of the divestiture transaction, we may recognize a gain or loss in connection with the divestiture related activities.

39 APPENDIX P – RECONCILIATION OF 2018 ADJUSTED OPERATING MARGIN GUIDANCE (A) Restructuring programs involve discrete initiatives designed to, among other things, consolidate or relocate manufacturing, administrative and other facilities, improve operating efficiencies and integrate acquired businesses. Our restructuring charges consist of termination benefits, contract termination costs, facility closure costs and other exit costs associated with a specific restructuring program. Restructuring related charges are directly related to our restructuring programs and consist of facility consolidation costs, including accelerated depreciation expense related to facility closures, costs to transfer manufacturing operations between locations, and retention bonuses offered to certain employees as an incentive for them to remain with our company after completion of the restructuring program. (B) Acquisition and integration expenses are incremental charges, other than restructuring or restructuring related expenses, that are directly related to specific business or asset acquisition transactions. These charges may include, among other things, professional, consulting and other fees; systems integration costs; legal entity restructuring expense; inventory step-up amortization (amortization, through cost of goods sold, of the increase in fair value of inventory resulting from a fair value calculation as of the acquisition date); fair value adjustments to contingent consideration; and bridge loan facility and backstop financing fees in connection with facilities that ultimately were not utilized. Divestiture related activities involve specific business or asset sales. Depending primarily on the terms of the divestiture transaction, the carrying value of the divested business or assets on our financial statements and other costs we incur as a direct result of the divestiture transaction, we may recognize a gain or loss in connection with the divestiture related activities. (C) These are discrete items that occur sporadically and can affect period-to-period comparisons. (D) Certain intangible assets, including customer lists, intellectual property, distribution rights, trade names and non-competition agreements, initially are recorded at historical cost and then amortized over their respective estimated useful lives. The amount of such amortization can vary from period to period as a result of, among other things, business or asset acquisitions or dispositions. Low High Forecasted GAAP Operating Margin 19.40% 20.00% Estimated restructuring, restructuring related and impairment items (A) 0.50% 0.45% Estimated acquisition, integration and divestiture related items (B) 0.70% 0.65% Estimated other items (C) 0.05% 0.00% Estimated intangible amortization expense (D) 5.45% 5.40% Forecasted Adjusted Operating Margin 26.10% 26.50%

40 APPENDIX Q – RECONCILIATION OF 2018 ADJUSTED EARNINGS PER SHARE GUIDANCE Low High Forecasted diluted earnings per share attributable to common shareholders $7.10 $7.20 Restructuring, restructuring related and impairment items, net of tax (A) $0.17 $0.20 Acquisition, integration and divestiture items, net of tax (B) $0.27 $0.30 Other items, net of tax ( C) $0.01 $0.02 Intangible amortization expense, net of tax (D) $2.00 $2.03 Forecasted adjusted diluted earnings per share $9.55 $9.75 (A) Restructuring programs involve discrete initiatives designed to, among other things, consolidate or relocate manufacturing, administrative and other facilities, improve operating efficiencies and integrate acquired businesses. Our restructuring charges consist of termination benefits, contract termination costs, facility closure costs and other exit costs associated with a specific restructuring program. Restructuring related charges are directly related to our restructuring programs and consist of facility consolidation costs, including accelerated depreciation expense related to facility closures, costs to transfer manufacturing operations between locations, and retention bonuses offered to certain employees as an incentive for them to remain with our company after completion of the restructuring program. (B) Acquisition and integration expenses are incremental costs, other than restructuring or restructuring related expenses, that are directly related to specific business or asset acquisition transactions. These costs may include, among other things, professional, consulting and other fees; systems integration costs; legal entity restructuring expense; inventory step-up amortization (amortization, through cost of goods sold, of the increase in fair value of inventory resulting from a fair value calculation as of the acquisition date); fair value adjustments to contingent consideration; and bridge loan facility and backstop financing fees in connection with facilities that ultimately were not utilized. Divestiture related activities involve specific business or asset sales. Depending primarily on the terms of the divestiture transaction, the carrying value of the divested business or assets on our financial statements and other costs we incur as a direct result of the divestiture transaction, we may recognize a gain or loss in connection with the divestiture related activities. (C) These are discrete items that occur sporadically and can affect period-to-period comparisons. (D) Certain intangible assets, including customer lists, intellectual property, distribution rights, trade names and non-competition agreements, initially are recorded at historical cost and then amortized over their respective estimated useful lives. The amount of such amortization can vary from period to period as a result of, among other things, business or asset acquisitions or dispositions.

41 Euro to U.S. Dollar exchange rate assumed to be approximately 1.18 for full year 2018 Adjusted weighted average shares expected to be approximately 46.9 million for full year 2018 2018 Calendar of shipping days: • Q1’18 vs. Q1’17: 1 less day • Q2’18 vs. Q2’17: 1 additional day • Q3’18 vs. Q3’17: no difference • Q4’18 vs. Q4’17: 1 additional day • FY’18 vs. FY’17: 1 additional day APPENDIX R – 2018 FINANCIAL OUTLOOK ASSUMPTIONS

42 APPENDIX S – TELEFLEX RESTRUCTURING PLAN SUMMARY With respect to our restructuring plans and programs that were ongoing at December 31, 2017, the table below summarizes (1) the estimated total charges that will be incurred and the estimated annual pre-tax savings once the plans and programs are completed; (2) the charges incurred and estimated pre-tax savings realized through December 31, 2017; and (3) the estimated charges to be incurred and the estimated incremental pre-tax savings to be realized for these plans and programs from January 1, 2018 through their respective anticipated completion dates. Estimated charges and pre-tax savings are subject to change based on, among other things, the nature and timing of restructuring activities, changes in the scope of restructuring plans and programs, unanticipated expenditures and other developments, the effect of additional acquisitions or dispositions and other factors that were not reflected in the assumptions made by management in previously estimating restructuring and restructuring related charges and estimated pre-tax savings. Moreover, estimated pre-tax savings relating to programs involving the integration of acquired businesses are particularly difficult to forecast because the estimate of pre-tax savings, to a considerable extent, involves assumptions regarding operation of businesses during periods when those businesses were not administered by our management. It is likely that estimates of charges and pre-tax savings will change from time to time, and the table below reflects changes from amounts previously estimated. In addition, the table below has been updated to remove estimated charges and pre-tax savings related to completed programs. Estimated charges and pre-tax savings are described in more detail below, within the discussions of the specific restructuring plans and programs. Dollars in Millions Estimated Total Through December 31, 2017 Estimated remaining from January 1, 2018 through December 31, 2022 Restructuring charges $44 to $51 $42 $2 to $9 Restructuring related charges 1 $56 to $68 $44 $12 to $24 Total charges $100 to $119 $86 $14 to $33 Pre-tax savings2,3 $76 to $90 $45 $31 to $45 1. Restructuring related charges principally constitute accelerated depreciation and other costs primarily related to the transfer of manufacturing operations to new locations and are expected to be recognized primarily in cost of goods sold. 2. Approximately 55% of the pre-tax savings are expected to result in reductions to cost of goods sold. As previously disclosed, during 2016, in connection with our execution of the 2014 Manufacturing Footprint Realignment Plan, we implemented changes to medication delivery devices included in certain of our kits, which are expected to result in increased product costs (and therefore reduced the annual savings we anticipated at the inception of the program). However, we also expect to achieve improved pricing on these kits to offset the cost, which is expected to result in estimated annual increased revenues of $5 million to $6 million, which is not reflected in the table above. We realized a $1.0 million benefit resulting from this incremental pricing in 2017. More recently, during the fourth quarter of 2017, we entered into an agreement with an alternate provider for the development and supply of a component to be included in certain kits sold by our Vascular and Anesthesia North America operating segments. The agreement will result in increased development costs, but is expected to reduce the cost of the component supply, once the supply becomes commercially available, as compared to the costs incurred with respect to our current suppliers. Therefore, we anticipate a net savings from the agreement, which is reflected in the table above. 3. While pre-tax savings address anticipated cost savings to be realized with respect to our historical expense items, they also reflect anticipated efficiencies to be realized with respect to increased costs that otherwise would have resulted from our acquisition of Vascular Solutions and Pyng Medical Corp. ("Pyng"), which we acquired in 2017. In this regard, the pre-tax savings are expected to result from the elimination of redundancies between our operations and Vascular Solutions’ and Pyng's operations, principally through the elimination of personnel redundancies.

43 APPENDIX T – GROUP PURCHASING ORGANIZATION AND IDN REVIEW Group Purchasing Organization Update • 21 renewed agreements • 2 new agreements • 3 existing agreements not renewed IDN Update • 37 renewed agreements • 25 new agreements • 7 existing agreements not renewed

44 APPENDIX U - REPORTING SEGMENT CHANGES OEM (no change) Surgical N.A. (no change) Anesthesia N.A. (no change) Vascular N.A. Interventional Access N.A. Interventional N.A. Interventional Access N.A. Cardiac N.A. Vascular Solutions N.A. All Other Interventional Urology N.A. Latin America Urology N.A. / Respiratory N.A Cardiac N.A. Vascular Solutions N.A. Vascular Solutions EMEA Vascular Solutions Asia EMEA Vascular Solutions EMEA Interventional Urology EMEA Asia Vascular Solutions Asia Interventional Urology Asia

45 APPENDIX V - FULL YEAR 2017 VS. 2016 CONSTANT CURRENCY REVENUE GROWTH FY 2017 Constant Currency Revenue Growth New Product introductions 1.9% Price 0.6% Volume (excluding shipping day impact) 1.0% Shipping Day Impact (0.3%) Vascular Solutions 8.1% NeoTract 2.1% Other M&A 0.7% Constant Currency Revenue Growth 14.1% Note: See appendices for reconciliations of non-GAAP information

EX-99.3

Exhibit 99.3

Teleflex Incorporated
Revenue by Segment
Dollars in Millions
		Three Months Ended			% Increase / (Decrease)
		April 2, 2017		March 27, 2016	Constant Currency	Currency	Total
Vascular North America	$	79.0	$	69.0	14.3%	0.2%	14.5%
Interventional North America		39.9		18.7	112.9%	0.2%	113.1%
Anesthesia North America		48.2		46.0	4.7%	0.2%	4.9%
Surgical North America		46.0		38.9	17.7%	0.3%	18.0%
EMEA		133.6		122.1	13.3%	(3.9%)	9.4%
Asia		50.2		49.2	2.0%	0.1%	2.1%
OEM		43.3		34.0	28.4%	(0.8%)	27.6%
All Other		47.7		47.0	1.8%	(0.4%)	1.4%
Net Revenues	$	487.9	$	424.9	16.0%	(1.2%)	14.8%
		Three Months Ended			% Increase / (Decrease)
		July 2, 2017		June 26, 2016	Constant Currency	Currency	Total
Vascular North America	$	78.8	$	74.4	6.1%	(0.2%)	5.9%
Interventional North America		58.3		21.3	174.2%	(0.3%)	173.9%
Anesthesia North America		49.1		49.2	(0.1%)	(0.1%)	(0.2%)
Surgical North America		44.7		43.1	4.0%	(0.3%)	3.7%
EMEA		138.5		131.7	8.3%	(3.2%)	5.1%
Asia		66.0		63.2	6.3%	(1.9%)	4.4%
OEM		45.1		40.3	12.5%	(0.5%)	12.0%
All Other		48.1		50.4	(4.4%)	0.0%	(4.4%)
Net Revenues	$	528.6	$	473.6	12.9%	(1.3%)	11.6%

Teleflex Incorporated
Revenue by Segment
Dollars in Millions
		Three Months Ended			% Increase / (Decrease)
		October 1, 2017		September 25, 2016	Constant Currency	Currency	Total
Vascular North America	$	75.1	$	71.5	4.8%	0.2%	5.0%
Interventional North America		60.7		20.2	200.3%	0.4%	200.7%
Anesthesia North America		50.8		48.7	4.3%	0.1%	4.4%
Surgical North America		40.8		41.9	(2.7%)	0.3%	(2.4%)
EMEA		137.0		121.4	7.6%	5.3%	12.9%
Asia		74.2		64.0	14.5%	1.3%	15.8%
OEM		48.6		41.4	16.1%	1.2%	17.3%
All Other		47.5		46.5	1.3%	0.6%	1.9%
Net Revenues	$	534.7	$	455.6	15.4%	2.0%	17.4%
		Three Months Ended			% Increase / (Decrease)
		December 31, 2017		December 31, 2016	Constant Currency	Currency	Total
Vascular North America	$	80.7	$	80.3	0.3%	0.2%	0.5%
Interventional North America		61.7		22.2	177.2%	0.4%	177.6%
Anesthesia North America		49.9		54.9	(9.4%)	0.2%	(9.2%)
Surgical North America		43.7		48.3	(9.8%)	0.4%	(9.4%)
EMEA		143.6		135.7	(2.0%)	7.8%	5.8%
Asia		78.8		73.0	4.5%	3.5%	8.0%
OEM		46.0		45.3	(0.1%)	1.4%	1.3%
All Other		90.7		54.2	67.0%	0.6%	67.6%
Net Revenues	$	595.1	$	513.9	12.6%	3.2%	15.8%

Teleflex Incorporated
Revenue by Segment
Dollars in Millions
		Twelve Months Ended			% Increase / (Decrease)
		December 31, 2017		December 31, 2016	Constant Currency	Currency	Total
Vascular North America	$	313.6	$	295.2	6.1%	0.1%	6.2%
Interventional North America		220.6		82.4	167.5%	0.1%	167.6%
Anesthesia North America		198.0		198.8	(0.5%)	0.1%	(0.4%)
Surgical North America		175.2		172.2	1.6%	0.1%	1.7%
EMEA		552.7		510.9	6.3%	1.9%	8.2%
Asia		269.2		249.4	7.0%	0.9%	7.9%
OEM		183.0		161.0	13.2%	0.5%	13.7%
All Other		234.0		198.1	18.0%	0.1%	18.1%
Net Revenues	$	2,146.3	$	1,868.0	14.1%	0.8%	14.9%
		Twelve Months Ended			% Increase / (Decrease)
		December 31, 2016		December 31, 2015	Constant Currency	Currency	Total
Vascular North America	$	295.2	$	284.1	4.1%	(0.2%)	3.9%
Interventional North America		82.4		75.2	9.8%	(0.2%)	9.6%
Anesthesia North America		198.8		189.2	5.2%	(0.2%)	5.0%
Surgical North America		172.2		161.3	7.1%	(0.3%)	6.8%
EMEA		510.9		514.5	1.1%	(1.8%)	(0.7%)
Asia		249.4		241.7	4.3%	(1.1%)	3.2%
OEM		161.0		149.4	7.8%	0.0%	7.8%
All Other		198.1		194.3	3.2%	(1.3%)	1.9%
Net Revenues	$	1,868.0	$	1,809.7	4.1%	(0.9%)	3.2%