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) July 31, 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 ¨

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. ¨

Item 2.02. Results of Operations and Financial Condition.

On August 2, 2018, Teleflex Incorporated (the “Company”) issued a press release (the “Press Release”) announcing its financial results for the quarter ended July 1, 2018. 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 each of the reconciliation tables set forth in the Press Release for the quarters ended July 1, 2018 and July 2, 2017, and for the six months ended July 1, 2018 and July 2, 2017, respectively; (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 for the 2017 period 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 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On July 31, 2018, W. Kim Foster notified the Company's Board of Directors (the “Board”) that he would be retiring from the Board, effective August 1, 2018, for personal health reasons. In connection with Mr. Foster’s retirement, the Board appointed Candace H. Duncan to serve as Chair of the Audit Committee of the Board (the “Audit Committee”) and appointed Richard A. Packer to serve as a member of the Audit Committee, in each case, effective August 1, 2018. The Board has commenced a process to identify a successor to fill the vacancy created as a result of Mr. Foster’s retirement.

Item 7.01. Regulation FD Disclosure.

In connection with the conference call to be held by the Company on August 2, 2018 to discuss its financial results for the quarter ended July 1, 2018, 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 9.01. Financial Statements and Exhibits.

(d) Exhibits.

99.1Earnings Press Release, dated August 2, 2018

99.2Earnings Conference Call Slide Presentation

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: August 2, 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 August 2, 2018
99.2	Earnings Conference Call Slide Presentation

EX-99.1

Exhibit 99.1

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

FOR IMMEDIATE RELEASE August 2, 2018

TELEFLEX REPORTS SECOND QUARTER 2018 RESULTS

Second Quarter Revenues of $609.9 million, up 15.4% Versus Prior Year Period; up 12.4% on Constant Currency Basis

Second Quarter GAAP EPS of ($0.06), down 103.6% Over the Prior Year Period

Second Quarter Adjusted EPS of $2.47, up 21.1% Versus Prior Year Period

Lowered 2018 Guidance Range for GAAP Revenue Growth from a range of between 15% and 16% to a range of between 14% and 15%

Reaffirmed 2018 Guidance Range for Constant Currency Revenue Growth of between 12% and 13%

Lowered 2018 Guidance for GAAP EPS from a range of between $5.45 and $5.55 to a range of between $4.60 and $4.70

Reaffirmed 2018 Guidance Range for Adjusted EPS of between $9.70 and $9.90

Wayne, PA -- Teleflex Incorporated (NYSE: TFX) (the “Company”) today announced financial results for the second quarter ended July 1, 2018.

Second quarter 2018 net revenues were $609.9 million, an increase of 15.4% compared to the prior year period. Excluding the impact of foreign currency exchange rate fluctuations, second quarter 2018 net revenues increased 12.4% over the year ago period.

Second quarter 2018 GAAP loss per share from continuing operations was ($0.06), as compared to diluted earnings per share of $1.67 in the prior year period. The decrease in GAAP earnings per share from continuing operations is due to $57.8 million of restructuring, restructuring related and impairment charges, which primarily related to the Company's 2018 footprint realignment plan, and $25.7 million of contingent consideration expense. Second quarter 2018 adjusted diluted earnings per share from continuing operations increased 21.1% to $2.47, compared to $2.04 in the prior year period.

Liam Kelly, President and Chief Executive Officer, said, “While Teleflex's constant currency revenue growth during the second quarter fell short of our expectations, this was primarily due to the timing of orders received from distributors, as well as certain product constraints associated with key suppliers. However, we were still able to achieve adjusted earnings per share of $2.47, which is an increase of 21.1%. In addition, I am pleased to report

that in the recent weeks, orders and revenue rebounded, and therefore, we continue to estimate that full year constant currency revenue growth will be between 12% and 13%.”

Added Mr. Kelly, “We continued to see strong performance from NeoTract, which generated approximately $48 million in revenue during the second quarter, representing growth of approximately 58%. Urolift continues to generate strong physician adoption, and its second quarter revenues, inclusion in the AUA Guidelines and continued expansion of published clinical evidence give us increased confidence in its short and long-term growth trajectory, and as such, we are raising our revenue expectations for NeoTract as we now believe it will grow approximately 50% over 2017 levels."

In closing, Mr. Kelly stated, “Notwithstanding recent volatility in foreign currency exchange rates, I am pleased to report that we are maintaining our previously provided full year adjusted diluted earnings per share guidance range of between $9.70 and $9.90.”

SECOND QUARTER AND SIX MONTH NET REVENUE BY SEGMENT

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 six months ended July 1, 2018 and July 2, 2017 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 July 1, 2018 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 "Currency Impact" column of the table.

	Three Months Ended				% Increase / (Decrease)
	July 1, 2018		July 2, 2017		Total Sales Growth		Currency Impact		Constant Currency Revenue Growth
Vascular North America	$	80.1	$	78.8	1.6	%	0.2	%	1.4	%
Interventional North America		65.0		58.3	11.3	%	0.0%		11.3	%
Anesthesia North America		50.5		49.1	2.9	%	0.2	%	2.7	%
Surgical North America		40.7		44.7	(9.0	)%	0.2	%	(9.2	)%
EMEA		153.4		138.5	10.8	%	8.0	%	2.8	%
Asia		72.4		66.0	9.7	%	3.8	%	5.9	%
OEM		52.6		45.1	16.5	%	1.6	%	14.9	%
All Other		95.2		48.1	98.0	%	(0.6	)%	98.6	%
Total	$	609.9	$	528.6	15.4	%	3.0	%	12.4	%

	Six Months Ended				% Increase / (Decrease)
	July 1, 2018		July 2, 2017		Total Sales Growth		Currency Impact		Constant Currency Revenue Growth
Vascular North America	$	163.1	$	157.8	3.4	%	0.3	%	3.1	%
Interventional North America		125.2		98.2	27.3	%	0.0%		27.3	%
Anesthesia North America		101.1		97.3	3.9	%	0.2	%	3.7	%
Surgical North America		81.4		90.7	(10.2	)%	0.3	%	(10.5	)%
EMEA		313.3		272.0	15.2	%	11.5	%	3.7	%
Asia		130.6		116.2	12.5%		5.2	%	7.3	%
OEM		98.4		88.5	11.3	%	2.3	%	9.0	%
All Other		184.0		95.8	92.1	%	0.3	%	91.8	%
Total	$	1,197.1	$	1,016.5	17.8	%	4.3	%	13.5	%

Vascular North America second quarter 2018 net revenues were $80.1 million, an increase of 1.6% compared to the prior year period. Excluding the impact of foreign currency exchange rate fluctuations, second quarter 2018 net revenues increased 1.4% compared to the prior year period. The increase in constant currency revenue is primarily attributable to an increase in new product sales partially offset by a decrease in sales volumes of existing products, despite the favorable impact of one additional shipping day in the second quarter of 2018.

Interventional North America second quarter 2018 net revenues were $65.0 million, an increase of 11.3% compared to the prior year period. Excluding the impact of foreign currency exchange rate fluctuations, second quarter 2018 net revenues increased 11.3% compared to the prior year period. The increase in constant currency revenue is primarily attributable to higher sales volumes of existing products and an increase in new product sales, reflecting, in part, the favorable impact of one additional shipping day in the second quarter of 2018.

Anesthesia North America second quarter 2018 net revenues were $50.5 million, an increase of 2.9% compared to the prior year period. Excluding the impact of foreign currency exchange rate fluctuations, second quarter 2018 net revenues increased 2.7% compared to the prior year period. The increase in constant currency revenue is primarily attributable to an increase in new product sales and an increase in sales volumes of existing products, reflecting, in part, the favorable impact of one additional shipping day in the second quarter of 2018. The increase in constant currency revenue was partially offset by price decreases.

Surgical North America second quarter 2018 net revenues were $40.7 million, a decrease of 9.0% compared to the prior year period. Excluding the impact of foreign currency exchange rate fluctuations, second quarter 2018 net revenues decreased 9.2% compared to the prior year period. The decrease in constant currency revenue is primarily attributable to a decline in sales volumes of existing products, despite the favorable impact of one additional shipping day in the second quarter of 2018.

EMEA second quarter 2018 net revenues were $153.4 million, an increase of 10.8% compared to the prior year period. Excluding the impact of foreign currency exchange rate fluctuations, second quarter 2018 net revenues increased 2.8% compared to the prior year period. The increase in constant currency revenue is primarily attributable to net revenues generated by price increases. The increase in constant currency revenue was partially offset by a decline in sales volumes of existing products, despite the favorable impact of one additional shipping day in the second quarter of 2018.

Asia second quarter 2018 net revenues were $72.4 million, an increase of 9.7% compared to the prior year period. Excluding the impact of foreign currency exchange rate fluctuations, second quarter 2018 net revenues increased 5.9%. The increase in constant currency revenue is primarily attributable to higher sales volumes of existing products and an increase in new product sales.

OEM second quarter 2018 net revenues were $52.6 million, an increase of 16.5% compared to the prior year period. Excluding the impact of foreign currency exchange rate fluctuations, second quarter 2018 net revenues increased 14.9% compared to the prior year period. The increase in constant currency revenue is primarily attributable to higher sales volumes of existing products, reflecting, in part, the favorable impact of one additional shipping day in the second quarter of 2018.

All Other second quarter 2018 net revenues were $95.2 million, an increase of 98.0% compared to the prior year period. Excluding the impact of foreign currency exchange rate fluctuations, second quarter 2018 net revenues increased 98.6% 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 the first six months of 2018 totaled $106.9 million compared to $72.3 million for the prior year period.

Cash and cash equivalents at July 1, 2018 were $346.3 million compared to $333.6 million at December 31, 2017.

Net accounts receivable at July 1, 2018 were $359.1 million compared to $345.9million at December 31, 2017.

Net inventories at July 1, 2018 were $405.4 million compared to $395.7million at December 31, 2017.

2018 OUTLOOK

The Company lowered its full year 2018 GAAP revenue growth guidance range from a range of between 15% and 16% to a range of between 14% and 15%. The Company's previous 2018 GAAP revenue growth guidance range reflected an anticipated 3% favorable impact of foreign currency exchange rate fluctuations, while the Company's revised 2018 GAAP revenue growth guidance range reflects an anticipated 2% favorable impact of foreign currency

exchange rate fluctuations. On a constant currency basis, the Company reaffirmed its full year 2018 guidance range of between 12% and 13% over the prior year.

The Company lowered its full year 2018 GAAP diluted earnings per share from continuing operations guidance from a range of between $5.45 and $5.55 to a range of between $4.60 and $4.70, reflecting the impact of additional restructuring and contingent consideration expenses. The Company reaffirmed its full year 2018 adjusted diluted earnings per share from continuing operations guidance range of between $9.70 and $9.90, reflecting our expectation of an approximately 5% 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
GAAP diluted earnings per share attributable to common shareholders		$4.60		$4.70
Restructuring, restructuring related and impairment items, net of tax		$1.57		$1.60
Acquisition, integration and divestiture related items, net of tax		$0.96		$0.98
Other items, net of tax		$0.05		$0.07
Intangible amortization expense, net of tax		$2.52		$2.55
Adjusted diluted earnings per share		$9.70		$9.90

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 August 7, 2018 at 11:00pm (ET), by calling 855-859-2056 (U.S./Canada) or 404-537-3406 (International), Passcode: 4890067.

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 “Second Quarter 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 each of the reconciliation tables for quarters ended July 1, 2018 and July 2, 2017, and for the six months ended July 1, 2018 and July 2, 2017, respectively, 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 for the 2017 period 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 currency exchange rate 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 - July 1, 2018
	Cost of goods sold			Selling, general and administrative expenses		Research and development expenses		Restructuring and impairment charges	Loss on extinguishment of debt, net	Interest expense, net		Income taxes			Income (loss) from continuing operations			Earnings per share			Shares used in calculation of GAAP and adjusted earnings per share
GAAP Basis	$	265.1		$	229.9	$	26.0	$55.4	—	$	26.5	$	9.6		$	2.6	)	$	0.06	)	45,581
Adjustments
Restructuring, restructuring related and impairment items (A)	3.6			—		0.1		55.4	—	—		1.1			57.8			$	1.24		—
Acquisition, integration and divestiture related items (B)	0.4			26.9		0.2		—	—	—		(0.2)			27.6			$	0.59		—
Other items (C)	(0.4		)	2.1		—		—	—	—		(0.0)			1.7			$	0.04		—
Amortization of debt discount on convertible notes (D)	—			—		—		—	—	—		—			—			—			—
Intangible amortization expense (E)	—			37.1		0.1		—	—	—		6.7			30.5			$	0.65		—
Loss on extinguishment of debt (F)	—			—		—		—	—	—		—			—			—			—
Tax adjustments (G)	—			—		—		—	—	—		(0.4		)	0.4			$	0.01		—
Shares due to Teleflex under note hedge (H)	—			—		—		—	—	—		—			—			—			—
Anti-dilutive effect on EPS (I)	—			—		—		—	—	—		—			—			$0.00			1,219
Adjusted basis	$	261.5		$	163.9	$	25.7	—	—	$	26.5	$	16.8		$	115.5		$	2.47		46,800

RECONCILIATION OF CONSOLIDATED STATEMENT OF INCOME ITEMS

Dollars in millions, except per share amounts

Quarter Ended - July 2, 2017
	Cost of goods sold		Selling, general and administrative expenses		Research and development expenses		Restructuring and impairment charges	Loss on extinguishment of debt, net	Interest expense, net		Income taxes		Income (loss) from continuing operations			Diluted earnings per share			Shares used in calculation of GAAP and adjusted earnings per share
GAAP Basis	$	238.3	$	158.9	$	20.3	$0.9	$0.0	$	19.7	$	12.1	$	78.4		$	1.67		46,818
Adjustments
Restructuring, restructuring related and impairment items (A)	2.4		0.3		0.3		0.9	—	—		1.7		2.3			$	0.05		—
Acquisition, integration and divestiture related items (B)	2.6		(0.2)		—		—	—	—		0.8		1.5			$	0.03		—
Other items (C)	—		(6.3)		—		—	—	—		(2.4)		(3.9		)	$	0.08	)	—
Amortization of debt discount on convertible notes (D)	—		—		—		—	—	0.4		0.1		0.2			$	0.01		—
Intangible amortization expense (E)	—		22.5		0.1		—	—	—		6.5		16.1			$	0.34		—
Loss on extinguishment of debt (F)	—		—		—		—	0.0	—		0.0		0.0			$0.00			—
Tax adjustments (G)	—		—		—		—	—	—		—		—			—			—
Shares due to Teleflex under note hedge (H)	—		—		—		—	—	—		—		—			$	0.02		(501	)
Adjusted basis	$	233.3	$	142.7	$	19.8	—	—	$	19.4	$	18.8	$	94.6		$	2.04		46,317

(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, outsource distribution operations, improve operating efficiencies and integrate acquired businesses. Depending on the specific restructuring program involved, our restructuring charges may include employee termination, contract termination, facility closure, employee relocation, equipment relocation, outplacement 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 July 1, 2018 and July 2, 2017, pre-tax restructuring related charges were $3.6 million and $3.0 million, respectively. For the three months ended July 1, 2018 and July 2, 2017, pre-tax impairment charges were $1.9 million and $0 million, respectively.

(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 liabilities; and bridge loan facility and backstop financing fees in connection with facilities that ultimately

were not utilized. For the three months ended July 1, 2018, the majority of these charges were related to contingent consideration liabilities and our acquisition of NeoTract. For the three months ended July 2, 2017, the majority of these charges were related to our acquisition of Vascular Solutions. 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. There were no divestiture related activities for the periods presented.

(C) Other items - These are discrete items that occur sporadically and can affect period-to-period comparisons. For the three months ended July 1, 2018, these items included the reversal of previously recognized income due to distributor acquisitions related to Vascular Solutions and relabeling costs. In addition, these items included a charge we incurred as a result of our continuing evaluation of the impact of the Tax Cuts and Jobs Act ("TCJA") on our consolidated operations. During the second quarter of 2018, we identified provisions of the TCJA that could have adverse consequences due to our organization structure. We implemented certain changes in the organizational structure (with, pursuant to tax law, retroactive impact back to 2017), and as a result of which we incurred a $1.9 million net worth tax in a foreign jurisdiction with respect to the 2017 tax year. Because the decision to make the change resulting in the net worth tax occurred in the second quarter of 2018, and as permitted under GAAP, we recorded the net worth tax charge in 2018, and the adjustment eliminating the charge is included in the table above among "Other Items" for the 2018 period. We will continue to evaluate the TCJA over the next several months, which may result in further adjustments. For the three months ended July 2, 2017, other items included income associated with a litigation settlement.

(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.

(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.

(I) We recorded a GAAP net loss in the second quarter 2018. Because any increase in the weighted average number of shares would decrease the loss per share and would therefore be antidilutive, the same weighted average number of shares was utilized to calculate both GAAP loss per share and GAAP diluted loss per share. However, on an adjusted basis, we realized net income. Therefore, in calculating adjusted earnings per share, we increased the weighted average number of shares outstanding to include dilutive securities.

RECONCILIATION OF CONSOLIDATED STATEMENT OF INCOME ITEMS

Dollars in millions, except per share amounts

Six Months Ended - July 1, 2018
	Cost of goods sold		Selling, general and administrative expenses		Research and development expenses		Restructuring and impairment charges	Loss on extinguishment of debt, net	Interest expense, net		Income taxes			Income (loss) from continuing operations		Earnings per share		Shares used in calculation of GAAP and adjusted earnings per share
GAAP Basis	$	521.0	$	445.3	$	52.0	$58.4	—	$	52.1	$	15.8		$	52.4	$	1.12	46,771
Adjustments
Restructuring, restructuring related and impairment items (A)	5.5		0.1		0.1		58.4	—	—		1.8			62.3		$	1.33	—
Acquisition, integration and divestiture related items (B)	0.7		38.4		0.4		—	—	—		0.4			39.1		$	0.84	—
Other items (C)	(1.3)		2.2		—		—	—	—		(0.1)			1.0		$	0.02	—
Amortization of debt discount on convertible notes (D)	—		—		—		—	—	—		—			—		—		—
Intangible amortization expense (E)	—		74.8		0.2		—	—	—		14.2			60.8		$	1.30	—
Loss on extinguishment of debt (F)	—		—		—		—	—	—		—			—		—		—
Tax adjustments (G)	—		—		—		—	—	—		(0.6		)	0.6		$0.01		—
Shares due to Teleflex under note hedge (H)	—		—		—		—	—	—		—			—		—		—
Adjusted basis	$	516.2	$	329.8	$	51.3	—	—	$	52.1	$	31.5		$	216.1	$	4.62	46,771

RECONCILIATION OF CONSOLIDATED STATEMENT OF INCOME ITEMS

Dollars in millions, except per share amounts

Six Months Ended - July 2, 2017
	Cost of goods sold		Selling, general and administrative expenses		Research and development expenses		Restructuring and impairment charges	Loss on extinguishment of debt, net		Interest expense, net		Income taxes		Income (loss) from continuing operations			Diluted earnings per share			Shares used in calculation of GAAP and adjusted earnings per share
GAAP Basis	$	470.7	$	322.9	$	38.1	$13.8	$	5.6	$	37.3	$	9.4	$	118.7		$	2.54		46,716
Adjustments
Restructuring, restructuring related and impairment items (A)	6.1		0.4		0.6		13.8	—		—		6.1		14.8			$	0.32		—
Acquisition, integration and divestiture related items (B)	10.4		9.1		—		—	—		2.1		7.1		14.5			$	0.31		—
Other items (C)	—		(6.1)		—		—	—		—		(2.3)		(3.8		)	$	0.08	)	—
Amortization of debt discount on convertible notes (D)	—		—		—		—	—		0.8		0.3		0.5			$	0.01		—
Intangible amortization expense (E)	—		41.2		0.2		—	—		—		11.6		29.8			$	0.64		—
Loss on extinguishment of debt (F)	—		—		—		—	5.6		—		2.0		3.5			$0.08			—
Tax adjustments (G)	—		—		—		—	—		—		0.5		(0.5)			$	0.01	)	—
Shares due to Teleflex under note hedge (H)	—		—		—		—	—		—		—		—			$	0.04		(489	)
Adjusted basis	$	454.1	$	278.4	$	37.3	—	—		$	34.5	$	34.7	$	177.5		$	3.84		46,227

(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, outsource distribution operations, improve operating efficiencies and integrate acquired businesses. Depending on the specific restructuring program involved, our restructuring charges may include employee termination, contract termination, facility closure, employee relocation, equipment relocation, outplacement 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 six months ended July 1, 2018 and July 2, 2017, pre-tax restructuring related charges were $5.7 million and $7.1 million, respectively. For the six months ended July 1, 2018 and July 2, 2017, pre-tax impairment charges were $1.9 million and $0 million, respectively.

(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 liabilities; and bridge loan facility and backstop financing fees in connection with facilities that ultimately were not utilized. For the six months ended July 1, 2018, the majority of these charges were related to contingent consideration liabilities and our acquisitions of Vascular Solutions and NeoTract. For the six months ended July 2, 2017, the majority of these

charges were related to our acquisition of Vascular Solutions. 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. There were no divestiture related activities for the periods presented.

(C) Other items - These are discrete items that occur sporadically and can affect period-to-period comparisons. For the six months ended July 1, 2018, these items included the reversal of previously recognized income due to distributor acquisitions related to Vascular Solutions and relabeling costs. In addition, these items included a charge we incurred as a result of our continuing evaluation of the impact of the Tax Cuts and Jobs Act ("TCJA") on our consolidated operations. During the second quarter of 2018, we identified provisions of the TCJA that could have adverse consequences due to our organization structure. We implemented certain changes in the organizational structure (with, pursuant to tax law, retroactive impact back to 2017), and as a result of which we incurred a $1.9 million net worth tax in a foreign jurisdiction with respect to the 2017 tax year. Because the decision to make the change resulting in the net worth tax occurred in the second quarter of 2018, and as permitted under GAAP, we recorded the net worth tax charge in 2018, and the adjustment eliminating the charge is included in the table above among "Other Items" for the 2018 period. We will continue to evaluate the TCJA over the next several months, which may result in further adjustments. For the six months ended July 2, 2017, other items included income associated with a litigation settlement.

(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.

(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, 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. We expressly disclaim any obligation to update forward-looking statements, except as otherwise specifically stated by us or as required by law or regulation.

TELEFLEX INCORPORATED

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

	Three Months Ended						Six Months Ended
	July 1, 2018			July 2, 2017			July 1, 2018			July 2, 2017
	(Dollars and shares in thousands, except per share)
Net revenues	$	609,866		$	528,613		$	1,197,096		$	1,016,494
Cost of goods sold	265,088			238,329			521,048			470,650
Gross profit	344,778			290,284			676,048			545,844
Selling, general and administrative expenses	229,917			158,934			445,254			322,903
Research and development expenses	26,018			20,278			52,045			38,105
Restructuring and impairment charges	55,353			870			58,416			13,815
Income from continuing operations before interest, loss on extinguishment of debt and taxes	33,490			110,202			120,333			171,021
Interest expense	26,649			19,894			52,592			37,620
Interest income	(183		)	(161		)	(456		)	(330		)
Loss on extinguishment of debt	—			11			—			5,593
Income from continuing operations before taxes	7,024			90,458			68,197			128,138
Taxes on income from continuing operations	9,576			12,095			15,818			9,426
Income (loss) from continuing operations	(2,552		)	78,363			52,379			118,712
Operating income (loss) from discontinued operations	94			(566		)	1,329			(848		)
Tax (benefit) on income (loss) from discontinued operations	38			(206		)	20			(309		)
Income (loss) from discontinued operations	56			(360		)	1,309			(539		)
Net (loss) income	$	(2,496	)	$	78,003		$	53,688		$	118,173
Earnings per share:
Basic:
Income (loss) from continuing operations	$	(0.06	)	$	1.74		$	1.15		$	2.64
Income (loss) from discontinued operations	0.01			(0.01		)	0.03			(0.01		)
Net income (loss)	$	(0.05	)	$	1.73		$	1.18		$	2.63
Diluted:
Income (loss) from continuing operations	$	(0.06	)	$	1.67		$	1.12		$	2.54
Income (loss) from discontinued operations	0.01			—			0.03			(0.01		)
Net income (loss)	$	(0.05	)	$	1.67		$	1.15		$	2.53
Dividends per share	$	0.34		$	0.34		$	0.68		$	0.68
Weighted average common shares outstanding
Basic	45,581			44,996			45,455			44,945
Diluted	45,581			46,818			46,771			46,716

TELEFLEX INCORPORATED

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

	July 1, 2018		December 31, 2017
	(Dollars in thousands)
ASSETS
Current assets
Cash and cash equivalents	$	346,304	$	333,558
Accounts receivable, net	359,119		345,875
Inventories, net	405,428		395,744
Prepaid expenses and other current assets	52,105		47,882
Prepaid taxes	19,084		5,748
Assets held for sale	3,239		—
Total current assets	1,185,279		1,128,807
Property, plant and equipment, net	410,979		382,999
Goodwill	2,220,888		2,235,592
Intangible assets, net	2,306,204		2,383,748
Deferred tax assets	2,386		3,810
Other assets	49,585		46,536
Total assets	$	6,175,321	$	6,181,492
LIABILITIES AND EQUITY
Current liabilities
Current borrowings	$	86,875	$	86,625
Accounts payable	94,834		92,027
Accrued expenses	104,340		96,853
Current portion of contingent consideration	110,454		74,224
Payroll and benefit-related liabilities	89,669		107,415
Accrued interest	6,771		6,165
Income taxes payable	5,597		11,514
Other current liabilities	37,905		9,053
Total current liabilities	536,445		483,876
Long-term borrowings	2,145,468		2,162,927
Deferred tax liabilities	596,434		603,676
Pension and postretirement benefit liabilities	113,083		121,410
Noncurrent liability for uncertain tax positions	12,765		12,296
Noncurrent contingent consideration	132,205		197,912
Other liabilities	204,940		168,864
Total liabilities	3,741,340		3,750,961
Commitments and contingencies
Total shareholders' equity	2,433,981		2,430,531
Total liabilities and shareholders' equity	$	6,175,321	$	6,181,492

TELEFLEX INCORPORATED

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

	Six Months Ended
	July 1, 2018			July 2, 2017
	(Dollars in thousands)
Cash flows from operating activities of continuing operations:
Net income	$	53,688		$	118,173
Adjustments to reconcile net income to net cash provided by operating activities:
(Income) loss from discontinued operations	(1,309		)	539
Depreciation expense	29,527			28,084
Amortization expense of intangible assets	75,008			41,375
Amortization expense of deferred financing costs and debt discount	2,368			2,825
Loss on extinguishment of debt	—			5,593
Fair value step up of acquired inventory sold	—			10,442
Changes in contingent consideration	34,618			(237		)
Impairment of long-lived assets	1,865			—
Stock-based compensation	10,737			9,534
Deferred income taxes, net	4,821			(8,779		)
Other	(3,669		)	(3,300		)
Changes in operating assets and liabilities, net of effects of acquisitions and disposals:
Accounts receivable	(15,886		)	5,071
Inventories	(15,017		)	(12,187		)
Prepaid expenses and other current assets	(3,611		)	4
Accounts payable, accrued expenses and other liabilities	38,112			6,541
Income taxes receivable and payable, net	(29,668		)	(5,988		)
Net cash provided by operating activities from continuing operations	181,584			197,690
Cash flows from investing activities of continuing operations:
Expenditures for property, plant and equipment	(38,004		)	(36,833		)
Proceeds from sale of assets	—			6,332
Payments for businesses and intangibles acquired, net of cash acquired	(22,450		)	(993,459		)
Net cash used in investing activities from continuing operations	(60,454		)	(1,023,960		)
Cash flows from financing activities of continuing operations:
Proceeds from new borrowings	—			1,194,500
Reduction in borrowings	(18,500		)	(228,273		)
Debt extinguishment, issuance and amendment fees	(188		)	(19,114		)
Net proceeds from share based compensation plans and the related tax impacts	9,800			1,305
Payments for contingent consideration	(62,574		)	(153		)
Dividends paid	(30,938		)	(30,590		)
Net cash provided by (used in) financing activities from continuing operations	(102,400		)	917,675
Cash flows from discontinued operations:
Net cash used in operating activities	(464		)	(961		)
Net cash used in discontinued operations	(464		)	(961		)
Effect of exchange rate changes on cash and cash equivalents	(5,520		)	41,981
Net increase in cash and cash equivalents	12,746			132,425
Cash and cash equivalents at the beginning of the period	333,558			543,789
Cash and cash equivalents at the end of the period	$	346,304		$	676,214
Non cash investing activities of continuing operations:
Property, plant and equipment additions due to build-to-suit lease transaction	$	28,147		$	—
Non cash financing activities of continuing operations:
Settlement and exchange of convertible notes with common or treasury stock	$	—		$	983
Acquisition of treasury stock associated with settlement and exchange of convertible note hedge and warrant agreements	$	36,877		$	19,361

EX-99.2

Teleflex Incorporated Second Quarter 2018 Earnings Conference Call 1

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 4890067 2

Today’s Speakers Liam Kelly President and CEO Thomas Powell Executive Vice President and CFO Jake Elguicze Treasurer and Vice President, Investor Relations 3

Note on Forward-Looking Statements This presentation and our discussion contain forward-looking information and statements including, but not limited to, forecasted organic constant currency revenue growth for the second half of 2018 and the items that are expected to contribute to that growth; forecasted 2018 GAAP and constant currency revenue growth, GAAP and adjusted gross and operating margins and GAAP 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 in connection with our ongoing restructuring programs; estimated annualized pre-tax savings we expect to realize in connection with our ongoing restructuring programs and a similar initiative within our OEM segment (the “OEM initiative”); our expectations with respect to when we will begin to realize savings from our ongoing restructuring programs and the OEM initiative 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. 4

2Q18 Highlights Revenue Highlights • As-reported revenue increased 15.4% versus 2Q17 • Constant currency revenue increased 12.4% versus 2Q17 • Excluding the benefit of one additional shipping day, 2Q18 organic constant currency revenue growth lower than previously expected primarily due to the timing of distributor orders and supplier constraints • Reaffirming previously provided full year 2018 constant currency revenue growth guidance Two Scale Acquisitions Continue to Transform Our Portfolio • NeoTract continues strong momentum, delivering $47.7 million in 2Q18 revenue, up ~58% versus 2Q17 • Prostatic Urethral Lift included in AUA Guidelines as part of the standard of care for the treatment of BPH • Independent analysis in U.K confirms UroLift cost effectiveness versus surgery • Vascular Solutions 2Q18 global revenue reaches $52.6 million, up ~17% versus 2Q17 Continued Margin Expansion and Adjusted EPS Growth • Delivered 120 bps of adjusted gross margin expansion versus 2Q17 • Delivered 90 bps of adjusted operating margin expansion versus 2Q17 • Adjusted EPS of $2.47, up 21.1% versus 2Q17 • Reaffirming previously provided full year 2018 adjusted EPS guidance 5 Note: See appendices for reconciliations of non-GAAP information

2Q Constant Currency Revenue Growth Q2 2018 Constant Currency Revenue Growth New Product Introductions 1.7% Shipping Day Impact 1.0% Volume (excluding surgical product line exit and shipping day impact) 0.8% Price 0.7% Surgical Product Line Exit (0.6%) M&A NeoTract 8.8% Constant Currency Revenue Growth 12.4% 6 Note: See appendices for reconciliations of non-GAAP information

Segment Revenue Review Total Constant Dollars Q2’18 Q2’17 Currency Sales Currency in Millions Revenue Revenue Impact Growth Growth Vascular NA $80.1 $78.8 1.6% 0.2% 1.4% Interventional NA $65.0 $58.3 11.3% 0.0% 11.3% Anesthesia NA $50.5 $49.1 2.9% 0.2% 2.7% Surgical NA $40.7 $44.7 (9.0%) 0.2% (9.2%) EMEA $153.4 $138.5 10.8% 8.0% 2.8% Asia $72.4 $66.0 9.7% 3.8% 5.9% OEM $52.6 $45.1 16.5% 1.6% 14.9% All Other $95.2 $48.1 98.0% (0.6%) 98.6% 7

Product and Clinical Updates Prostatic Urethral Lift Included in American Urological Association (AUA) Guidelines KEY TAKEAWAYS • AUA recommended use of Prostatic Urethral Lift (PUL) as a standard of care treatment for lower urinary tract symptoms due to benign prostatic hyperplasia (BPH) • AUA recommends PUL should be considered for the management of men’s lower urinary tract symptoms attributed to BPH UroLift® Permanent Implant UroLift® Delivery Device • UroLift is the only minimally invasive treatment option that has been shown to provide rapid and durable symptomatic and urinary flow rate improvement without inducing sustained sexual dysfunction 8

Product and Clinical Updates UroLift® Clinical and Economic Publications KEY TAKEAWAYS • Independent analysis in U.K. highlights cost effectiveness of UroLift System over Transurethral Resection of the Prostate (TURP); estimated savings of ~£27 million per year over 5 years for each annual cohort of patients1 • One-year data from MedLift Study (n=45) evaluating patients with obstructive median lobes demonstrated safety and efficacy consistent with LIFT study, including no instances (0%) of de novo, sustained sexual ® ® dysfunction2 UroLift Permanent Implant UroLift Delivery Device • Predictors of Response post hoc analysis of LIFT study demonstrates patients who had earlier interventions with UroLift, preserving bladder function, had more favorable outcomes than those who had UroLift later 1 Orlowski A, Kayes O. Value in Health 2018; 21: S268. 3 in the progression of their BPH 2 Rukstalis D et al. J Urol 2018; 199(4S): e989. 3 Kaplan S, Roehrborn C. J Urol 2018; 199(4S): e834. 9

1H18 vs. 2H18 Organic Constant Currency Revenue Growth Drivers 1H 2018 Organic Constant Currency Revenue Growth 2.7% NeoTract ~ 1.5% Vascular Solutions ~ 1.0% Shipping Day Impact ~ 1.0% Surgical Product Line Exit ~ 0.4% All Other ~ 1.2% 2H 2018 Organic Constant Currency Revenue Growth 1 7.8% 1: Reflects the mid-point necessary to achieve the organic, constant currency revenue growth guidance range of 5% to 5.5% for full year 2018. Note: See appendices for reconciliations of non-GAAP information 10

Second Quarter Financial Review Revenue of $609.9 million • Up 15.4% vs. prior year period on an as-reported basis • Up 12.4% vs. prior year period on a constant currency basis Gross Margin • GAAP gross margin of 56.5%, up 160 bps vs. prior year period • Adjusted gross margin of 57.1%, up 120 bps vs. prior year period Operating Margin • GAAP operating margin of 5.5%, down 1,530 bps vs. prior year period • Adjusted operating margin of 26.0%, up 90 bps vs. prior year period Tax Rate • GAAP tax rate of 136.3%, up 12,290 bps vs. prior year period • Adjusted tax rate of 12.7%, down 390 bps vs. prior year period Earnings per Share • GAAP EPS of ($0.06), down 103.6% vs. prior year period • Adjusted EPS of $2.47, up 21.1% vs. prior year period 11 Note: See appendices for reconciliations of non-GAAP information

2018 Financial Outlook 2018 Revenue Guidance • Lowered as-reported revenue growth guidance from a range of between 15% and 16% to a range of between 14% and 15% • Reaffirmed constant currency revenue growth guidance range of between 12% and 13% • Reaffirmed organic constant currency revenue growth guidance range of between 5% and 5.5% 2018 Gross Margin Guidance • Reaffirmed GAAP gross margin guidance range of between 56.85% and 57.50% • Reaffirmed the adjusted gross margin guidance range of between 57.5% and 58.0% 2018 Operating Margin Guidance • Lowered GAAP operating margin guidance range of between 16.4% and 17.0% to a range of between 14.85% and 15.45% • Reaffirmed the adjusted operating margin guidance range of between 26.1% and 26.5% 2018 Earnings per Share Guidance • Lowered GAAP earnings per share guidance from a range of between $5.45 and $5.55 to a range of between $4.60 and $4.70 • Reaffirmed the adjusted earnings per share guidance range of between $9.70 and $9.90 12 Note: See appendices for reconciliations of non-GAAP information

Question and Answer Section 13

THANK YOU 14

Appendices 15

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 each of the reconciliation tables appearing in Appendices I, J, K and L; (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 I, J, K and L. In addition, the calculation of diluted shares within adjusted earnings per share for the 2017 periods 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 tables appearing in Appendices E and F. • 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 tables appearing in Appendices G and H; 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 tables appearing in Appendices M and N; (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 M and N. 16

Appendix A – Reconciliation of Constant Currency Revenue Growth Dollars in Millions Three Months Ended % Increase / (Decrease) Total Currency Constant Currency July 1, 2018 July 2, 2017 Revenue Growth Impact Revenue Growth Vascular North America $ 80.1 $ 78.8 1.6% 0.2% 1.4% Interventional North America 65.0 58.3 11.3% 0.0% 11.3% Anesthesia North America 50.5 49.1 2.9% 0.2% 2.7% Surgical North America 40.7 44.7 (9.0%) 0.2% (9.2%) EMEA 153.4 138.5 10.8% 8.0% 2.8% Asia 72.4 66.0 9.7% 3.8% 5.9% OEM 52.6 45.1 16.5% 1.6% 14.9% All Other 95.2 48.1 98.0% (0.6%) 98.6% Net Revenues $ 609.9 $ 528.6 15.4% 3.0% 12.4% 17

Appendix B – Reconciliation of Constant Currency Revenue Growth Dollars in Millions Six Months Ended % Increase / (Decrease) Total Currency Constant Currency July 1, 2018 July 2, 2017 Revenue Growth Impact Revenue Growth Vascular North America $ 163.1 $ 157.8 3.4% 0.3% 3.1% Interventional North America 125.2 98.2 27.3% 0.0% 27.3% Anesthesia North America 101.1 97.3 3.9% 0.2% 3.7% Surgical North America 81.4 90.7 (10.2%) 0.3% (10.5%) EMEA 313.3 272.0 15.2% 11.5% 3.7% Asia 130.6 116.2 12.5% 5.2% 7.3% OEM 98.4 88.5 11.3% 2.3% 9.0% All Other 184.0 95.8 92.1% 0.3% 91.8% Net Revenues $ 1,197.1 $ 1,016.5 17.8% 4.3% 13.5% 18

Appendix C – Revenue Growth Dollars in Millions Year-Over-Year Growth % Basis Points Three Months Ended July 2, 2017 Revenue As-Reported $ 528.6 Foreign currency $ 14.0 3.0% 300 Volume (excluding Surgical product line exit and the impact of shipping days) $ 4.2 0.8% 80 Shipping day impact $ 5.4 1.0% 100 Surgical product line exit $ (3.0) -0.6% -60 New product sales $ 9.0 1.7% 170 Pricing $ 3.9 0.7% 70 Acquisitions1 $ 47.8 8.8% 880 Three Months Ended July 1, 2018 Revenue As-Reported $ 609.9 15.4% 1 = Includes: NeoTract $ 47.7 8.8% Other Acquisitions $ 0.1 0.0% 19

Appendix D – Revenue Growth Dollars in Millions Year-Over-Year Growth % Basis Points Six Months Ended July 2, 2017 Revenue As-Reported $ 1,016.5 Foreign currency $ 38.5 4.3% 430 Volume (excluding Surgical product line exit and the impact of shipping days) $ 12.6 1.2% 120 Shipping day impact $ (1.3) -0.1% -10 Surgical product line exit $ (6.4) -0.6% -60 New product sales $ 16.7 1.6% 160 Pricing $ 7.1 0.6% 60 Acquisitions1 $ 113.4 10.7% 1,070 Six Months Ended July 1, 2018 Revenue As-Reported $ 1,197.1 17.8% 1 = Includes: NeoTract $ 90.0 8.5% Vascular Solutions $ 21.8 2.1% Other Acquisitions $ 1.6 0.1% 20

Appendix E – Reconciliation of Adjusted Gross Profit and Margin Dollars in Thousands Three Months Ended July 1,2018 July 2, 2017 Teleflex gross profit as-reported $ 344,778 $ 290,284 Teleflex gross margin as-reported 56.5% 54.9% Restructuring, restructuring related and impairment items (A) 3,556 2,449 Acquisition, integration and divestiture related items (B) 354 2,564 Other items (C) (364) - Adjusted Teleflex gross profit $ 348,324 $ 295,297 Adjusted Teleflex gross margin 57.1% 55.9% Teleflex revenue as-reported $ 609,866 $ 528,613 (A) Restructuring programs involve discrete initiatives designed to, among other things, consolidate or relocate manufacturing, administrative and other facilities, outsource distribution operations, improve operating efficiencies and integrate acquired businesses. Depending on the specific restructuring program involved, our restructuring charges may include employee termination, contract termination, facility closure, employee relocation, equipment relocation, outplacement 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; and 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). For the three months ended July 1, 2018, the majority of these charges were related to our acquisition of NeoTract. For the three months ended July 2, 2017, the majority of these charges were related to our acquisition of Vascular Solutions. 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. There were no divestiture related activities for the periods presented. (C) Other Items are discrete items that occur sporadically and can affect period-to-period comparisons. For the three months ended July 1, 2018, these items included the reversal of previously recognized income due to distributor acquisitions related to Vascular Solutions. 21

Appendix F – Reconciliation of Adjusted Gross Profit and Margin Dollars in Thousands Six Months Ended July 1, 2018 July 2, 2017 Teleflex gross profit as-reported $ 676,048 $ 545,844 Teleflex gross margin as-reported 56.5% 53.7% Restructuring, restructuring related and impairment items (A) 5,515 6,112 Acquisition, integration and divestiture related items (B) 706 10,442 Other items (C) (1,347) - Adjusted Teleflex gross profit $ 680,922 $ 562,398 Adjusted Teleflex gross margin 56.9% 55.3% Teleflex revenue as-reported $ 1,197,096 $ 1,016,494 (A) Restructuring programs involve discrete initiatives designed to, among other things, consolidate or relocate manufacturing, administrative and other facilities, outsource distribution operations, improve operating efficiencies and integrate acquired businesses. Depending on the specific restructuring program involved, our restructuring charges may include employee termination, contract termination, facility closure, employee relocation, equipment relocation, outplacement 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; and 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). For the six months ended July 1, 2018, the majority of these charges were related to contingent consideration liabilities and our acquisitions of Vascular Solutions and NeoTract. For the six months ended July 2, 2017, the majority of these charges were related to our acquisition of Vascular Solutions. 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. There were no divestiture related activities for the periods presented. (C) Other Items are discrete items that occur sporadically and can affect period-to-period comparisons. For the six months ended July 1, 2018, these items included the reversal of previously recognized income due to distributor acquisitions related to Vascular Solutions. 22

Appendix G – Reconciliation of Adjusted Operating Profit and Margin Dollars in Thousands Three Months Ended July 1, 2018 July 2, 2017 Teleflex income from continuing operations before interest, loss on extinguishment of debt and taxes $ 33,490 $ 110,202 Teleflex income from continuing operations before interest, loss on extinguishment of debt and taxes margin 5.5% 20.8% Restructuring, restructuring related and impairment items (A) 58,988 3,910 Acquisition, integration and divestiture related items (B) 27,398 2,319 Other items (C) 1,717 (6,283) Intangible amortization expense (D) 37,192 22,590 Adjusted Teleflex income from continuing operations before interest, loss on extinguishment of debt and taxes $ 158,785 $ 132,738 Adjusted Teleflex income from continuing operations before interest, loss on extinguishment of debt and taxes margin 26.0% 25.1% Teleflex revenue as-reported $ 609,866 $ 528,613 (A) Restructuring programs involve discrete initiatives designed to, among other things, consolidate or relocate manufacturing, administrative and other facilities, outsource distribution operations, improve operating efficiencies and integrate acquired businesses. Depending on the specific restructuring program involved, our restructuring charges may include employee termination, contract termination, facility closure, employee relocation, equipment relocation, outplacement 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 July 1, 2018 and July 2, 2017, pre-tax impairment charges were $1.9 million and $0 million, respectively. (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); and fair value adjustments to contingent consideration liabilities. For the three months ended July 1, 2018, the majority of these charges were related to contingent consideration liabilities and our acquisition of NeoTract. For the three months ended July 2, 2017, the majority of these charges were related to our acquisition of Vascular Solutions. 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. There were no divestiture related activities for the periods presented. (C) Other items are discrete items that occur sporadically and can affect period-to-period comparisons. For the three months ended July 1, 2018, these items included the reversal of previously recognized income due to distributor acquisitions related to Vascular Solutions and relabeling costs. In addition, these items included a charge we incurred as a result of our continuing evaluation of the impact of the Tax Cuts and Jobs Act ("TCJA") on our consolidated operations. During the second quarter of 2018, we identified provisions of the TCJA that could have adverse consequences due to our organization structure. We implemented certain changes in the organizational structure (with, pursuant to tax law, retroactive impact back to 2017), and as a result of which we incurred a $1.9 million net worth tax in a foreign jurisdiction with respect to the 2017 tax year. Because the decision to make the change resulting in the net worth tax occurred in the second quarter of 2018, and as permitted under GAAP, we recorded the net worth tax charge in 2018, and the adjustment eliminating the charge is included in the table above among "Other Items" for the 2018 period. We will continue to evaluate the TCJA over the next several months, which may result in further adjustments. For the three months ended July 2, 2017, other items included income associated with a litigation settlement. (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. 23

Appendix H – Reconciliation of Adjusted Operating Profit and Margin Dollars in Thousands Six Months Ended July 1, 2018 July 2, 2017 Teleflex income from continuing operations before interest, loss on extinguishment of debt and taxes $ 120,333 $ 171,021 Teleflex income from continuing operations before interest, loss on extinguishment of debt and taxes margin 10.1% 16.8% Restructuring, restructuring related and impairment items (A) 64,130 20,873 Acquisition, integration and divestiture related items (B) 39,431 19,495 Other items (C) 879 (6,100) Intangible amortization expense (D) 75,008 41,375 Adjusted Teleflex income from continuing operations before interest, loss on extinguishment of debt and taxes $ 299,781 $ 246,664 Adjusted Teleflex income from continuing operations before interest, loss on extinguishment of debt and taxes margin 25.0% 24.3% Teleflex revenue as-reported $ 1,197,096 $ 1,016,494 (A) Restructuring programs involve discrete initiatives designed to, among other things, consolidate or relocate manufacturing, administrative and other facilities, outsource distribution operations, improve operating efficiencies and integrate acquired businesses. Depending on the specific restructuring program involved, our restructuring charges may include employee termination, contract termination, facility closure, employee relocation, equipment relocation, outplacement 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 six months ended July 1, 2018 and July 2, 2017, pre-tax impairment charges were $1.9 million and $0 million, respectively. (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); and fair value adjustments to contingent consideration liabilities. For the six months ended July 1, 2018, the majority of these charges were related to contingent consideration liabilities and our acquisitions of Vascular Solutions and NeoTract. For the six months ended July 2, 2017, the majority of these charges were related to our acquisition of Vascular Solutions. 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. There were no divestiture related activities for the periods presented. (C) Other items are discrete items that occur sporadically and can affect period-to-period comparisons. For the six months ended July 1, 2018, these items included the reversal of previously recognized income due to distributor acquisitions related to Vascular Solutions and relabeling costs. In addition, these items included a charge we incurred as a result of our continuing evaluation of the impact of the Tax Cuts and Jobs Act ("TCJA") on our consolidated operations. During the second quarter of 2018, we identified provisions of the TCJA that could have adverse consequences due to our organization structure. We implemented certain changes in the organizational structure (with, pursuant to tax law, retroactive impact back to 2017), and as a result of which we incurred a $1.9 million net worth tax in a foreign jurisdiction with respect to the 2017 tax year. Because the decision to make the change resulting in the net worth tax occurred in the second quarter of 2018, and as permitted under GAAP, we recorded the net worth tax charge in 2018, and the adjustment eliminating the charge is included in the table above among "Other Items" for the 2018 period. We will continue to evaluate the TCJA over the next several months, which may result in further adjustments. For the six months ended July 2, 2017, other items included income associated with a litigation settlement. (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. 24

Appendix I – Reconciliation of Adjusted EPS from Continuing Operations Three Months Ended– July 1, 2018 Dollars in Millions, except per share data Selling, general Restructuring Shares used in Cost of Research and Loss on Income (loss) and and Interest Income Earnings per calculation of GAAP goods development extinguishment from continuing administrative impairment expense, net taxes share and adjusted sold expenses of debt, net operations expenses charges earnings per share GAAP Basis $265.1 $229.9 $26.0 $55.4 $26.5 — $9.6 ($2.6) ($0.06) 45,581 Adjustments Restructuring, restructuring related and 3.6 — 0.1 55.4 — — 1.1 57.8 $1.24 — impairment items (A) Acquisition, integration and divestiture related 0.4 26.9 0.2 — — — (0.2) 27.6 $0.59 — items (B) Other items (C) (0.4) 2.1 — — — — (0.0) 1.7 $0.04 — Amortization of debt discount on convertible — — — — — — — — — — notes (D) Intangible amortization — 37.1 0.1 — — — 6.7 30.5 $0.65 — expense (E) Loss on extinguishment — — — — — — — — — — of debt (F) Tax adjustments (G) — — — — — — (0.4) 0.4 $0.01 — Shares due to Teleflex — — — — — — — — — — under note hedge (H) Anti-dilutive effect — — — — — — — — $0.00 1,219 on EPS (I) Adjusted basis $261.5 $163.9 $25.7 — $26.5 — $16.8 $115.5 $2.47 46,800 25

Appendix J – Reconciliation of Adjusted EPS from Continuing Operations Three Months Ended – July 2, 2017 Dollars in Millions, except per share data Selling, general Restructuring Shares used in Cost of Research and Loss on Income (loss) and and Interest Income Diluted earnings calculation of GAAP goods development extinguishment from continuing administrative impairment expense, net taxes per share and adjusted sold expenses of debt, net operations expenses charges earnings per share GAAP Basis $238.3 $158.9 $20.3 $0.9 $19.7 $0.0 $12.1 $78.4 $1.67 46,818 Adjustments Restructuring, restructuring related and 2.4 0.3 0.3 0.9 — — 1.7 2.3 $0.05 — impairment items (A) Acquisition, integration and divestiture related 2.6 (0.2) — — — — 0.8 1.5 $0.03 — items (B) Other items (C) — (6.3) — — — — (2.4) (3.9) ($0.08) — Amortization of debt discount on convertible — — — — 0.4 — 0.1 0.2 $0.01 — notes (D) Intangible amortization — 22.5 0.1 — — — 6.5 16.1 $0.34 — expense (E) Loss on extinguishment — — — — — 0.0 0.0 0.0 $0.00 — of debt (F) Tax adjustments (G) — — — — — — — — — — Shares due to Teleflex — — — — — — — — $0.02 (501) under note hedge (H) Adjusted basis $233.3 $142.7 $19.8 — $19.4 — $18.8 $94.6 $2.04 46,317 26

Appendices I and J – 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, outsource distribution operations, improve operating efficiencies and integrate acquired businesses. Depending on the specific restructuring program involved, our restructuring charges may include employee termination, contract termination, facility closure, employee relocation, equipment relocation, outplacement 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 July 1, 2018 and July 2, 2017, pre-tax restructuring related charges were $3.6 million and $3.0 million, respectively. For the three months ended July 1, 2018 and July 2, 2017, pre-tax impairment charges were $1.9 million and $0 million, respectively. (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 liabilities; and bridge loan facility and backstop financing fees in connection with facilities that ultimately were not utilized. For the three months ended July 1, 2018, the majority of these charges were related to contingent consideration liabilities and our acquisition of NeoTract. For the three months ended July 2, 2017, the majority of these charges were related to our acquisition of Vascular Solutions. 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. There were no divestiture related activities for the periods presented. (C) Other items - These are discrete items that occur sporadically and can affect period-to-period comparisons. For the three months ended July 1, 2018, these items included the reversal of previously recognized income due to distributor acquisitions related to Vascular Solutions and relabeling costs. In addition, these items included a charge we incurred as a result of our continuing evaluation of the impact of the Tax Cuts and Jobs Act ("TCJA") on our consolidated operations. During the second quarter of 2018, we identified provisions of the TCJA that could have adverse consequences due to our organization structure. We implemented certain changes in the organizational structure (with, pursuant to tax law, retroactive impact back to 2017), and as a result of which we incurred a $1.9 million net worth tax in a foreign jurisdiction with respect to the 2017 tax year. Because the decision to make the change resulting in the net worth tax occurred in the second quarter of 2018, and as permitted under GAAP, we recorded the net worth tax charge in 2018, and the adjustment eliminating the charge is included in the table above among "Other Items" for the 2018 period. We will continue to evaluate the TCJA over the next several months, which may result in further adjustments. For the three months ended July 2, 2017, other items included income associated with a litigation settlement. (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. (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. (I) We recorded a GAAP net loss in the second quarter 2018. Because any increase in the weighted average number of shares would decrease the loss per share and would therefore be antidilutive, the same weighted average number of shares was utilized to calculate both GAAP loss per share and GAAP diluted loss per share. However, on an adjusted basis, we realized net income. Therefore, in calculating adjusted earnings per share, we increased the weighted average number of shares outstanding to include dilutive securities. 27

Appendix K – Reconciliation of Adjusted EPS from Continuing Operations Six Months Ended – July 1, 2018 Dollars in Millions, except per share data Selling, general Restructuring Shares used in Cost of Research and Loss on Income (loss) and and Interest Income Earnings per calculation of GAAP goods development extinguishment from continuing administrative impairment expense, net taxes share and adjusted sold expenses of debt, net operations expenses charges earnings per share GAAP Basis $521.0 $445.3 $52.0 $58.4 $52.1 — $15.8 $52.4 $1.12 46,771 Adjustments Restructuring, restructuring related and 5.5 0.1 0.1 58.4 — — 1.8 62.3 $1.33 — impairment items (A) Acquisition, integration and divestiture related 0.7 38.4 0.4 — — — 0.4 39.1 $0.84 — items (B) Other items (C) (1.3) 2.2 — — — — (0.1) 1.0 $0.02 — Amortization of debt discount on convertible — — — — — — — — — — notes (D) Intangible amortization — 74.8 0.2 — — — 14.2 60.8 $1.30 — expense (E) Loss on extinguishment — — — — — — — — — — of debt (F) Tax adjustments (G) — — — — — — (0.6) 0.6 $0.01 — Shares due to Teleflex — — — — — — — — — — under note hedge (H) Adjusted basis $516.2 $329.8 $51.3 — $52.1 — $31.5 $216.1 $4.62 46,771 28

Appendix L – Reconciliation of Adjusted EPS from Continuing Operations Six Months Ended – July 2, 2017 Dollars in Millions, except per share data Selling, general Restructuring Shares used in Cost of Research and Loss on Income (loss) and and Interest Income Diluted earnings calculation of GAAP goods development extinguishment from continuing administrative impairment expense, net taxes per share and adjusted sold expenses of debt, net operations expenses charges earnings per share GAAP Basis $470.7 $322.9 $38.1 $13.8 $37.3 $5.6 $9.4 $118.7 $2.54 46,716 Adjustments Restructuring, restructuring related and 6.1 0.4 0.6 13.8 — — 6.1 14.8 $0.32 — impairment items (A) Acquisition, integration and divestiture related 10.4 9.1 — — 2.1 — 7.1 14.5 $0.31 — items (B) Other items (C) — (6.1) — — — — (2.3) (3.8) ($0.08) — Amortization of debt discount on convertible — — — — 0.8 — 0.3 0.5 $0.01 — notes (D) Intangible amortization — 41.2 0.2 — — — 11.6 29.8 $0.64 — expense (E) Loss on extinguishment — — — — — 5.6 2.0 3.5 $0.08 — of debt (F) Tax adjustments (G) — — — — — — 0.5 (0.5) ($0.01) — Shares due to Teleflex — — — — — — — — $0.04 (489) under note hedge (H) Adjusted basis $454.1 $278.4 $37.3 — $34.5 — $34.7 $177.5 $3.84 46,227 29

Appendices K and L – 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, outsource distribution operations, improve operating efficiencies and integrate acquired businesses. Depending on the specific restructuring program involved, our restructuring charges may include employee termination, contract termination, facility closure, employee relocation, equipment relocation, outplacement 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 six months ended July 1, 2018 and July 2, 2017, pre-tax restructuring related charges were $5.7 million and $7.1 million, respectively. For the six months ended July 1, 2018 and July 2, 2017, pre-tax impairment charges were $1.9 million and $0 million, respectively. (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 liabilities; and bridge loan facility and backstop financing fees in connection with facilities that ultimately were not utilized. For the six months ended July 1, 2018, the majority of these charges were related to contingent consideration liabilities and our acquisitions of Vascular Solutions and NeoTract. For the six months ended July 2, 2017, the majority of these charges were related to our acquisition of Vascular Solutions. 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. There were no divestiture related activities for the periods presented. (C) Other items - These are discrete items that occur sporadically and can affect period-to-period comparisons. For the six months ended July 1, 2018, these items included the reversal of previously recognized income due to distributor acquisitions related to Vascular Solutions and relabeling costs. In addition, these items included a charge we incurred as a result of our continuing evaluation of the impact of the Tax Cuts and Jobs Act ("TCJA") on our consolidated operations. During the second quarter of 2018, we identified provisions of the TCJA that could have adverse consequences due to our organization structure. We implemented certain changes in the organizational structure (with, pursuant to tax law, retroactive impact back to 2017), and as a result of which we incurred a $1.9 million net worth tax in a foreign jurisdiction with respect to the 2017 tax year. Because the decision to make the change resulting in the net worth tax occurred in the second quarter of 2018, and as permitted under GAAP, we recorded the net worth tax charge in 2018, and the adjustment eliminating the charge is included in the table above among "Other Items" for the 2018 period. We will continue to evaluate the TCJA over the next several months, which may result in further adjustments. For the six months ended July 2, 2017, other items included income associated with a litigation settlement. (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. (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. 30

Appendix M – Reconciliation of Adjusted Tax Rate Dollars in Thousands Three Months Ended July 1, 2018 Income from Taxes on continuing income from operations continuing before taxes operations Tax rate (A) Other items - These are discrete items that occur sporadically and can affect period-to-period comparisons. For the three months GAAP basis $7,024 $9,576 136.3% ended July 1, 2018, these items included the reversal of previously recognized income due to distributor acquisitions related to Vascular Solutions and relabeling costs. In addition, Restructuring, restructuring related and impairment charges 58,988 1,149 these items included a charge we incurred as a result of our continuing evaluation of the impact of the Tax Cuts and Jobs Act Acquisition, integration and divestiture related items 27,398 (161) ("TCJA") on our consolidated operations. During the second Other items (A) 1,717 (1) quarter of 2018, we identified provisions of the TCJA that could have adverse consequences due to our organization structure. Amortization of debt discount on convertible notes 0 0 We implemented certain changes in the organizational structure (with pursuant to tax law, retroactive impact back to 2017), and as Intangible amortization expense 37,192 6,651 a result of which we incurred a $1.9 million net worth tax in a foreign jurisdiction with respect to the 2017 tax year. Because Loss on extinguishment of debt 0 0 the decision to make the change resulting in the net worth tax Tax adjustment (B) 0 (408) occurred in the second quarter of 2018, and as permitted under GAAP, we recorded the net worth tax charge in 2018, and the adjustment eliminating the charge is included in the table above Adjusted basis $132,319 $16,806 12.7% among "Other Items" for the 2018 period. We will continue to evaluate the TCJA over the next several months, which may result in further adjustments. For the three months ended July 2, Three Months Ended July 2, 2017 2017, other items included income associated with a litigation settlement. GAAP basis $90,458 $12,095 13.4% (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 Restructuring, restructuring related and impairment charges 3,910 1,652 respect to prior tax years and/or tax law changes affecting our deferred tax liability. Acquisition, integration and divestiture related items 2,319 838 Other items (A) (6,283) (2,401) Amortization of debt discount on convertible notes 378 138 Intangible amortization expense 22,590 6,496 Loss on extinguishment of Debt 11 5 Tax adjustment (B) 0 0 Adjusted basis $113,383 $18,823 16.6% 31

Appendix N – Reconciliation of Adjusted Tax Rate Dollars in Thousands Six Months Ended July 1, 2018 Income from Taxes on continuing income from operations continuing before taxes operations Tax rate (A) Other items - These are discrete items that occur sporadically and can affect period-to-period comparisons. For the six months GAAP basis $68,197 $15,818 23.2% ended July 1, 2018, these items included the reversal of previously recognized income due to distributor acquisitions related to Vascular Solutions and relabeling costs. In addition, Restructuring, restructuring related and impairment charges 64,130 1,839 these items included a charge we incurred as a result of our continuing evaluation of the impact of the Tax Cuts and Jobs Act Acquisition, integration and divestiture related items 39,431 361 ("TCJA") on our consolidated operations. During the second quarter of 2018, we identified provisions of the TCJA that could Other items (A) 879 (116) have adverse consequences due to our organization structure. Amortization of debt discount on convertible notes 0 0 We implemented certain changes in the organizational structure (with pursuant to tax law, retroactive impact back to 2017), and as Intangible amortization expense 75,008 14,210 a result of which we incurred a $1.9 million net worth tax in a foreign jurisdiction with respect to the 2017 tax year. Because Loss on extinguishment of debt 0 0 the decision to make the change resulting in the net worth tax occurred in the second quarter of 2018, and as permitted under Tax adjustment (B) 0 (566) GAAP, we recorded the net worth tax charge in 2018, and the adjustment eliminating the charge is included in the table above Adjusted basis $247,645 $31,546 12.7% among "Other Items" for the 2018 period. We will continue to evaluate the TCJA over the next several months, which may result in further adjustments. For the six months ended July 2, Six Months Ended July 2, 2017 2017, other items included income associated with a litigation settlement. GAAP basis $128,138 $9,426 7.4% (B) Tax adjustments - These adjustments represent the impact of the expiration of applicable statutes of limitations for prior year Restructuring, restructuring related and impairment charges 20,873 6,071 returns, the resolution of audits, the filing of amended returns with respect to prior tax years and/or tax law changes affecting our Acquisition, integration and divestiture related items 21,566 7,095 deferred tax liability. Other items (A) (6,100) (2,331) Amortization of debt discount on convertible notes 756 276 Intangible amortization expense 41,375 11,619 Loss on extinguishment of debt 5,593 2,046 Tax adjustment (B) 0 494 Adjusted basis $212,201 $34,696 16.4% 32

Appendix O – Reconciliation of 2018 Constant Currency and Organic Constant Currency Revenue Growth Guidance 2018 Guidance Low High Forecasted GAAP Revenue Growth 14.0% 15.0% Forecasted impact of foreign currency exchange rate fluctuations 2.0% 2.0% Forecasted Constant Currency Revenue Growth 12.0% 13.0% Forecasted M&A 7.0% 7.5% Forecasted Organic Constant Currency Revenue Growth1 5.0% 5.5% 33 1 = includes approximately 1.75% of contribution from Vascular Solutions and NeoTract volume and new products.

Appendix P – Reconciliation of 2018 Adjusted Gross Margin Guidance 2018 Guidance Low High Forecasted GAAP Gross Margin 56.85% 57.50% Estimated restructuring, restructuring related and impairment items (A) 0.60% 0.55% Estimated acquisition, integration and divestiture related items (B) 0.05% 0.00% Estimated other items (C) 0.00% (0.05%) Forecasted Adjusted Gross Margin 57.50% 58.00% (A) Restructuring programs involve discrete initiatives designed to, among other things, consolidate or relocate manufacturing, administrative and other facilities, outsource distribution operations, improve operating efficiencies and integrate acquired businesses. Depending on the specific restructuring program involved, our restructuring charges may include employee termination, contract termination, facility closure, employee relocation, equipment relocation, outplacement 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; and 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. 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. There were no divestiture related activities for the periods presented. (C) Other Items are discrete items that occur sporadically and can affect period-to-period comparisons. 34

Appendix Q – Reconciliation of 2018 Adjusted Operating Margin Guidance 2018 Guidance Low High Forecasted GAAP Operating Margin 14.85% 15.45% Estimated restructuring, restructuring related and impairment items (A) 3.20% 3.15% Estimated acquisition, integration and divestiture related items (B) 1.95% 1.90% Estimated other items (C) 0.10% 0.05% Estimated intangible amortization expense (D) 6.00% 5.95% Forecasted Adjusted Operating Margin 26.10% 26.50% (A) Restructuring programs involve discrete initiatives designed to, among other things, consolidate or relocate manufacturing, administrative and other facilities, outsource distribution operations, improve operating efficiencies and integrate acquired businesses. Depending on the specific restructuring program involved, our restructuring charges may include employee termination, contract termination, facility closure, employee relocation, equipment relocation, outplacement 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, 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); and fair value adjustments to contingent consideration liabilities. 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. There were no divestiture related activities for the periods presented. (C) Other items are discrete items that occur sporadically and can affect period-to-period comparisons. (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. 35

Appendix R – Reconciliation of 2018 Adjusted Earnings Per Share Guidance 2018 Guidance Low High Forecasted GAAP Diluted Earnings Per Share $4.60 $4.70 Estimated Restructuring, restructuring related and impairment items (A) $1.57 $1.60 Estimated Acquisition, integration and divestiture related items (B) $0.96 $0.98 Estimated Other items (C) $0.05 $0.07 Estimated intangible amortization expense (D) $2.52 $2.55 Forecasted Adjusted Diluted Earnings Per Share $9.70 $9.90 (A) Restructuring programs involve discrete initiatives designed to, among other things, consolidate or relocate manufacturing, administrative and other facilities, outsource distribution operations, improve operating efficiencies and integrate acquired businesses. Depending on the specific restructuring program involved, our restructuring charges may include employee termination, contract termination, facility closure, employee relocation, equipment relocation, outplacement and other exit costs. 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 liabilities; 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. There were no divestiture related activities for the periods presented. (C) These are discrete items that occur sporadically and can affect period-to-period comparisons. (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. 36

Appendix S – 2018 Financial Outlook Assumptions Euro to U.S. Dollar exchange rate assumed to be approximately 1.20 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 37

Appendix T – Teleflex Restructuring Plan Summary In addition to the 2018 Footprint realignment plan, we have ongoing restructuring programs related to (i) the integration of Vascular Solutions into Teleflex; (ii) the centralization of certain administrative functions in our EMEA segment; (iii) the consolidation of our manufacturing operations (referred to as our 2016 and 2014 Footprint realignment plans); and (iv) other restructuring programs designed to improve operating efficiencies and reduce costs. See Note 5 to the condensed consolidated financial statements included in this report. We also have similar ongoing activities to relocate certain manufacturing operations within our OEM segment ("the OEM initiative") that do not meet the criteria for a restructuring program under applicable accounting guidance, but the activities will result in cost savings (we expect only minimal costs to be incurred). With respect to our restructuring programs and the OEM initiative, the table below summarizes (1) the estimated total restructuring and restructuring related charges and estimated annual pre-tax savings (including pre-tax savings related to the OEM initiative) once the programs are completed; (2) the restructuring and restructuring related charges incurred and estimated pre-tax savings realized through December 31, 2017; and (3) the restructuring and restructuring related charges expected to be incurred and estimated incremental pre-tax savings (including pre-tax savings related to the OEM initiative) estimated to be realized for these programs from January 1, 2018 through the anticipated completion dates. Estimated charges and pre-tax savings are subject to change based on, among other things, the nature and timing of restructuring and similar activities, changes in the scope of restructuring plans and programs and the OEM initiative, 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 does not include estimated charges and pre-tax savings related to completed programs. Estimated charges expected to be incurred in connection with the restructuring programs are described in more detail in Note 5 to the condensed consolidated financial statements included in this report. Through Estimated remaining from January 1, 2018 Dollars in Millions Estimated Total December 31, 2017 through December 31, 2024 Restructuring charges $109 to $126 $42 $67 to $84 Restructuring related charges 1 $102 to $125 $44 $58 to $81 Total charges $211 to $251 $86 $125 to $165 OEM initiative pre-tax savings $6 to $7 ̶ $6 to $7 Pre-tax savings 2,3 $105 to $121 $45 $60 to $76 Total pre-tax savings $111 to $128 $45 $66 to $83 1. Includes estimated financial information related to the 2018 Footprint realignment plan, which was initiated during the second quarter 2018 and is described in more detail above. 2. Restructuring related charges principally constitute pre-tax charges related to accelerated depreciation and other costs directly related to the plan, primarily consisting of costs to transfer manufacturing operations to the new location and project management costs, as well as a charge associated with our exit from facilities that is expected to be imposed by the taxing authority in the affected jurisdiction. Most of these charges (other than the tax charge) are expected to be recognized in costs of goods sold. 3. Approximately 65% 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 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 reduce the annual savings we anticipated at the inception of the plan). However, we also expect to achieve improved pricing on these kits that will offset the increased product costs. The improved pricing 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. Moreover, 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 North America 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 cost incurred with respect to our current suppliers. Therefore, we anticipate a net savings from the agreement, which is reflected in the table above. 4. 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. 38

Appendix U – GPO and IDN Review Group Purchasing Organization Update • 5 renewed agreements • 3 new agreements • 0 existing agreements lost IDN Update • 4 renewed agreements • 4 new agreements • 0 existing agreements lost 39