Vatech

3Q.2022 Performance Results

Investor Relations Team

November 8th, 2022 www.vatech.co.kr

Copyright © VATECH Networks | All Rights Reserved.

Disclaimer

This presentation has been prepared by Vatech (hereinafter “the Company), with an aim to promote investors’ understanding
of the Company. This presentation May not be distributed modified, reproduced in whole or in part.

The accuracy of the ‘forward-looking statements’ included in this presentation has not been independently verified.
The forward-looking statements include projections and outlook of the Company concerning its business status and financial
results, and include but not limited to words, such as ‘expectation’. ‘forecast’, ‘plan’, ‘anticipation’ or ‘(E)’. The forwar d-looking
statements are subject to changes in business environment and involve inherent risks and uncertainties.

Future expectations are based on current business environment and the Company’s management direction as of the date of
presentation. Future projections may differ or change due to changes in business environment or due to strategic changes
by the Company,. The contents in this presentation may change with out any prior notification.

None of the Company nor ant of its respective officers assume legal responsibility for any damages or losses that may have
occurred from the use of this presentation, including errors and other mistakes that may be included in this presentation

This presentation may not ne reproduced in whole or in part, nor may any of its contents be divulged to any third
party, unless prior consent by the Company has been granted.

Vatech Investor Relations 2022 2

Index

Ⅰ. Business Overview Ⅱ. Performance Result

1. Company Profile 1. Overview Performance

2. By Product
2. History
3. By Region
3. Products
4. Appendix
4. Digital Dental X-ray
- Consolidated Income Statement
Imaging Market
- Consolidated balance sheet,
5. China Dental Imaging Financial ratio
Market Growth
1. Company Profile I. Business Overview

▶ General information ▶ Ownership structure

Company name Vatech (KOSDAQ : 043150)

CEO Hyun Jung Hun, Kim Sun Bum Foreign 20.4%

institutional
Establishment April 4, 1992 investors
29.5%
17.6% 53.7% VATECH EwooHoldings
& Related party
Mainbusiness Digital Dental X-ray Imaging System 53.6%

Domestic 8.3%
# of Employees 276 institutional 1.7%
15.2%
investors
Capital 7,427 Million Won Others
* As of 2021.12.31
Listeddate September 29, 2006 ▶ Organization

VATECH EwooHoldings

46%

Vatech
Dental X-ray Imaging Systems
R&D, Manufacture

100% 29% 32%

Overseas
VatechMCIS Subsidiaries
Rayence
Domestic Sales 20 Companies Detector
Buildings view in Dong-tan area, Gyeonggi province R&D, Manufacture, Sales

Vatech Investor Relations 2022 4

2. History
Based on innovativetechnologyand marketingcapabilities, thecompany
enteredinto thedentalx-ray imaging marketquickly and has continuedto growth
2010 Group restructured into a holdings system
2009 Selected as World-Class Korean Product
and Manufacturer by the Ministry of Trade,
Industry, and Energy
2006 VATECH-ListedintheKOSDAQ
2005 Launched the world’s first 3 in 1
digital X-ray system.
M/S in domestic market over 50%.
2003 Launched Korea’s 1st digital panoramic
imaging system
2002 Changedthe company name toVatech
▶Transitionedintothe dental X-raybusiness
1992 Founded VATECH System Industrial X-raybusiness)
Vatech Investor Relations 2022
2017 Received ‘100milliondollarExportTower’
for theFirsttime inDental Industry
2016 Constructedthe newbuildingofVATECH Networks
Rayence-listedinthe KOSDAQ
2015 SelectedasWorld-Class300
2014 LaunchedaSmart CT PaX-i3D Smart
gaining2Dand3D imagesat atime
2013 Launched the low-dose CBCT
PaX-i3D Green
2013 FoundedVERI
(VatechEwooResearch&Innovation center)
2012 Launched PaX-i
I. Business Overview
2021 Launched Entry CT A9
2020 Launchedsmall medicalCT Smart M
2020 LaunchedportableX-Ray EzRayM
2020 IR52JangYoung-ShilWinner
2020 Launched Green XwhichhasEndomode
2019 Selection ofanexcellentpublicdisclosure corporation
2019 VatechMCIStookover Acucera
2019 Launched3D oral ScannerEzScan
2018 The largestnumberof patentapplications
inthe fieldofdental imagingfor 5years
2018 OpenedGlobal LogisticsCenter
5
3. Products #1 I. Business Overview

Full line-updental digital x-rayimagingsystems; Extra-oral (2D, 3D)&Intra-oral

EOX (Extra-Oral X-Ray)

2D / 2.5D 3D

•for detectingdental caries • for implant surgery & orthodontics

• for orthodontics • for plastic surgeryandotolaryngology
Low dose(Green) Value, Short ScanTime

Multi-layer 1 scan, 2 images FOV FOV LargeFOV Endo mode

2D Entrylevel
(2.5D) (2D, 3D) 16X9 18X10 21X19 (‘21.SepLaunchedin
U.S.)

Panorama Cephalo Endo

Vatech Investor Relations 2022 6

3. Products #2 I. Business Overview

Full line-updental digital x-rayimagingsystems; Extra-oral (2D, 3D)&Intra-oral

IO (Intra-Oral) X-Ray / Sensor / Scanner

IOX IOS IOSc

• for diagnosisof 2~3 teeth • Bends to fit patient’s mouth • Intra Oral Scanner
• utilized withextraoral equipment • Reducethe number of retakes
• Solely usedin emergingmarketshavingless purchasing power • Reduceradiation dose

World-first commercialization of Medical CNT Only one soft dental 3D Oral Scanner
* CNT : Carbon NanoTube sensor in the world

Vatech Investor Relations 2022 7

4. Digital Dental X-ray Imaging Market #1 I. Business Overview

▶ Global Dental Imaging Device Market Revenue ▶Digital Dental X-ray ImagingGlobal Competitors
Units: $ M

3610.8
▪ Only One Dental Imaging X-ray Specialty
Company in the world
904.1 25.0%
2774.4
▪ US PEF company (Listed in NYSE)
655.9
23.6%
2166.6
1104.9 30.6%
492.9 22.7% ▪ Spin-off from Siemens as a dental company
32.9%
911.6 ▪ Merged with Dentsply (Listed in NASDAQ)

740.9 520.1 14.4%

34.2%
392.9 14.2% ▪ Finnish Dental Total Solution Company
302.1 13.9%
1081.7 30.0%
814 29.3%
630.7
29.1%
▪ Formerly, Kodak Healthcare

2020 2024 2028

Intraoral X-ray System Intraoral Sensors
Extraoral X-ray System CBCT

Source: Global Dental Imaging Devices Market Research Report, PRUDOUP (2018)

Vatech Investor Relations 2022 8

 4. Digital Dental X-ray Imaging Market #2 I. Business Overview

▶ Global DentalImaging Devices RevenueComparison by Region ▶Percentage of sales by region

* Domestic - Mainly direct sales
* Overseas - Sales through distribution channels over 100 countries
- 15 overseas subsidiaries supporting A/S and marketing

* As of 2022. 3Q

Asia
23.9%
Europe
29.7%

Korea
9.0%
North America
24.9%

Middle East
4.6%
Oceania
1.0%

South America
6.9%

Vatech Investor Relations 2022 9

5. China Dental Imaging Market Growth I. Business Overview

Rapid expansion with Green Smartin the big segmentof China's rapidly growing 3D EOXmarket
2D(ea) 3D(ea) Korea’s Vatech poised to enter
3D dental X-ray market in China
△14.2% 5,500
CAGR 34.1%
1,200
4,400 〮 China's EOX Market recently
900 recoded rapid 3D growth
China 750 3,500
EOX 700
650 2,600 〮 2D Market growth stagnation
Market 1,700
Size
’16 ’17 ’18 ’19 ’20 ’16 ’17 ’18 ’19 ’20
(Source : Market Research by Vatech China, September 2018 Den Tech China in Shanghai) (Source : Maeil Business Newspaper, June 14, 2018)

<2D Market> Dental Imaging Market No1. Target in China

〮 Success in securing market share No.1 in China
No.1 M/S in 2D (Sales/Manufacturing Certification)
〮 Retention of manufacturing facilities in Shanghai
<3D Market>
Market 〮 Acquire 3D Manufacturing Certification
+
3D (Green Smart / Green 16 /
Position 〮 Expansion CAPA Green 18 Manufacturing Certification)
&
Strategy ➔ Expanding sales by strengthening
local responsiveness in China

Vatech Investor Relations 2022 10

Index

Ⅰ. Business Overview Ⅱ. Performance Result

1. Company Profile 1. Overview Performance
2. History
2. By Product
3. Products
3. By Region
4. Digital Dental X-ray
Imaging Market 4. Appendix
- Consolidated Income
5. China Dental Imaging
Statement
Market Growth
- Consolidated balance sheet,
Financial ratio
1. Overview Performance Ⅱ . Performance Result

(Units : Million Won)

Units : Million 160000 28.0%

Won 3Q.22 2Q.22 QoQ 3Q.21 YoY
140000 21.6%
21.4% 23.0%
Sales 99,101 106,653 - 7.1% 83,189 +19.1%
19.7%
120000
106,653
Operating
19,534 23,020 -15.1% 17,802 +9.7% 99,101 18.0%
Profit 100000
83,189
Profit Before
29,110 29,706 -2.0% 23,003 +26.6% 80000
Tax 13.0%

Net Profit 23,686 23,324 +1.6% 19,137 +23.8% 60000

8.0%
40000
Gross Profit
51.2% 49.3% +1.9%p 49.7% +1.5%p 23,020
Rate 17,802 19,534 3.0%
20000
Operating Profit
19.7% 21.6% -1.9%p 21.4% -1.7%p
Rate
0 -2.0%
Net Profit Rate 23.9% 21.9% +2.0%p 23.0% +0.9%p 3Q.21 2Q.22 3Q.22
EPS 1,571won 1,527won +44won 1,168won +403won Sales OP OPM

Sales, operating profit. Highest performance in Q3

➢ Sales increased 19.1% YoY along with an increase of 3D products in advanced markets such as the U.S and Europe and increasing
penetration into emerging markets.
➢ Operating profit rose 9.7% % YoY due to increased sales and elevated sales of premium products.

Vatech Investor Relations 2022 12

2. By Product Ⅱ . Performance Result

(Units : Million Won)

Sales Breakdown by Products

(Separated) 3Q.22 Result
➢ Sales of 3D products increased by 18.6% YoY due to increased sales of
12,283
premium products Green X and entry-level products A9.
(17.5%) 14,514 Units : Million
14,373
(21.6%) Won 3Q.22 2Q.22 QoQ 3Q.21 YoY
(21.9%) 15,364
12,520 10,806
11,739 (21.2%) (25.0%)
(15.4%) 3D 42,126 47,101 -10.6% 35,520 +18.6%
10,434
12,047 (21.2%) 12,192 (15.6%)
(23.4%)
2D 10,434 10,806 -3.5% 11,100 -6.0%
11,100 (18.6%) 10,658
10,757 (18.8%) (17.4%)
9,978 (19.5%) - 3D sales increased YoY by increasing sales of Green X and
(19.4%) expanding the A9 launch area.
-- 3D sales in 3Q decreased due to off-season effects in
47,101 advanced markets such as the U.S. and Europe.
42,126
39,114 (67.1%)
35,520 35,389 (62.8%)
32,782 (59.6%)
29,411 (60.1%) (57.6%)
Strategy
(59.3%)
(57.2%)

➢ Market demand is shifting from 2D to 3D products and we're

trying to expand premium products sales.
1Q.21 2Q.21 3Q.21 4Q.21 1Q.22 2Q.22 3Q.22
➢ Expanding market dominance by strengthening quality,
technology and customer service.
EOX 3D EOX 2D IOX, ETC

Vatech Investor Relations 2022 13

3. By Region Ⅱ . Performance Result

(Units : Million Won)

3Q.22 Result
Sales Breakdown by Region
➢ Sales increased YoY due to the expansion of premium product in
(Consolidated) advanced markets and the penetration of emerging markets.
Units : Million Won 22.3Q 22.2Q QoQ 21.3Q Yoy
North America 23,498 28,816 -18.5% 20,383 +15.3%

24,284 Europe 27,456 32,063 -14.4% 20,621 +33.1%

20,880 (22.8%) German 5,545 8,694 -36.2% 5,039 +10.0%
(21.8%) 25,889
(26.1%) Russia 9,606 8,021 +19.8% 5,870 +63.6%
21,073 19,404
25,374 France 4,288 4,551 -5.8% 3,163 +35.6%
(24.8%) (22.6%)
20,352 (30.5%) Asia(except Korea) 25,889 24,284 +6.6% 25,374 +2.0%
28,816
(27.1%) 29,236 (27.0%) China 6,262 7,482 -16.3% 12,367 -49.4%
(30.5%) 23,498
20,208 India 4,617 3,016 53.1% 561 +722.8%
21,426 (23.7%)
(23.5%)
17,129 (25.2%) 20,383 Vietnam 8,144 6,709 21.4% 5,352 +52.2%
(22.8%) (24.5%) South America 23,498 28,816 -18.5% 20,383 +15.3%

28,300 27,225
32,063
27,456
Strategy
21,389 24,329 (30.0%)
20,621 (29.5%) (31.7%) (27.7%) ➢ China Business
(28.5%) (28.6%)
(24.8%) - Green Smart, Green 16 completed the establishment of
a local manufacturing system in China.
1Q.21 2Q.21 3Q.21 4Q.21 1Q.22 2Q.22 3Q.22 - Strengthen market penetration by discovering local
dealerships.
Europe North America Asia(except Korea) ➢ Response to demand from advanced and emerging markets with a
variety of lineups and new products.
Vatech Investor Relations 2022 14
4. Appendix - Consolidated Income Statement Ⅱ . Performance Result

Units : Billion Won 19FY 20FY 21FY 1Q.21 2Q.21 3Q.21 4Q.21 1Q.22 2Q.22 3Q.22
Sales 272 244 339 75 85 83 96 86 107 99
Cost of Sales 144 131 173 40 42 42 50 43 54 48

Gross Profit 128 113 166 35 43 41 46 43 53 51

Selling and administrative expenses 85 82 100 22 23 24 31 28 30 31

Operating Profit 43 32 66 13 20 18 15 15 23 20

Other Profits 12 11 11 3 2 5 1 5 10 12

Other losses 10 65 9 1 3 2 3 3 7 7

Equity method gains 4 -1 4 2 - 1 1 1 2 1

Financial income 2 2 4 2 1 2 1 1 3 4

Financial losses 3 3 1 1 - - - 1 - 0.3

Profit Before Tax 48 -24 74 18 19 23 14 19 30 29

Tax Expense 13 -2 19 3 5 4 7 4 6 5

Net Profit 36 -22 55 15 14 19 8 15 23 24

Profit, attributable to owners of parent 34 -24 52 13 13 17 8 14 23 23

Profit, attributable to non-controlling
parent
2 2 4 2 1 2 -1 1 1 0.3

Vatech Investor Relations 2022 15

4. Appendix - Consolidated balance sheet, Financial ratio Ⅱ . Performance Result

Units : Billion Won 20FY 21FY 3Q.22

Total Asset 354 420 516
Cash and cash equivalents 78 86 85
Short-term deposits 13 19 21
Inventories 53 78 108
Tangible assets 63 72 78
Intangible assets 7 3 2
Total liabilities 125 135 160
Short-term trade Payables 42 42 50
Short-term borrowings 5 3 5
Other current liabilities 2 2 2
Long-term borrowings 21 13 9
Total Equity 229 285 356
Capital 7 7 7
Premium on common stock 24 24 24
Earned surplus 209 259 317

Current ratio 236% 253% 268%

Debt ratio 55% 48% 45%
Net borrowing ratio -28% -31% -26%

Vatech Investor Relations 2022 16

www.vatech.co.kr