Investor presentation · 2021. 6. 2. · This presentation contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section

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MAY 2021

INVESTOR PRESENTATION

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FORWARD-LOOKING STATEMENTS

This presentation contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, relating to, among other things, the future performance of Sientra, Inc. (the “Company”) that are based on management's current assumptions and expectations of future events and trends and involve risks and uncertainties. All statements other than statements of historical fact are forward-looking statements. The words ''believe,'' ''may,'' ''might,'' ''could,'' ''will,'' ''aim,'' ''estimate,'' ''continue,'' ''anticipate,'' ''intend,'' ''expect,'' ''plan,'' or the negative of those terms, and similar expressions that convey uncertainty of future events or outcomes are intended to identify estimates, projections and other forward-looking statements. Forward-looking statements are made only as of the date of this release. The words ‘‘believe,’’ ‘‘may,’’ ‘‘might,’’ ‘‘could,’’ ‘‘will,’’ ‘‘aim,’’ ‘‘estimate,’’ ‘‘continue, ‘‘anticipate,’’ ‘‘intend,’’ ‘‘expect,’’ ‘‘plan,’’ ‘‘position,” or the negative of those terms, and similar expressions that convey uncertainty of future events or outcomes are intended to identify estimates, projections and other forward-looking statements. Forward-looking statements may include information concerning the Company’s priorities for 2021, the impact of the COVID-19 pandemic on the Company and its operations, the Company’s possible or assumed future results of operations, including descriptions of the Company’s revenues, profitability, outlook and overall business strategy. Such statements are subject to risks and uncertainties, including the closing and audit of the Company’s financial statements which audit is not yet complete and the preliminary estimates presented here could differ from the final audited financial statements presented by the Company, the scope and duration of the COVID-19 pandemic, the Company’s ability to recapture delayed procedures resulting from the COVID-19 pandemic, the positive reaction from plastic surgeons and their patients to the Company’s products, the ability to meet consumer demand, the growth of the sale of bioTips, and the Company’s ability to manage its operating expenses and cash balance. Additional factors that could cause actual results to differ materially from those contemplated in this presentation can be found in the Risk Factors section of the Company’s public filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, and such estimates, projections and other forward-looking statements speak only as of the date they were made, and, except to the extent required by law, the Company undertakes no obligation to update or review any estimate, projection or forward-looking statement. Actual results may differ from those set forth in this presentation due to the risks and uncertainties inherent in the Company’s business.

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To be the leader of transformative treatments and technologies focused on progressing the art of plastic surgery vision /

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REIMAGINING WHAT’S POSSIBLE IN PLASTIC SURGERY

Offer proprietary innovations and unparalleled partnerships that radically advance how plastic surgeons think, work and care for their patients

mission /

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GROWTH DRIVERSFUTURE GROWTH DRIVEN BY SINGULAR FOCUS ON PLASTIC SURGEONS

Drive market share in Japan by expanding choice of products and complete near-term expansion into Canadian market

Evaluate and enter incremental international markets

Identify additional opportunities for inorganic growth within the U.S. plastic surgery market

TAM

Expansion

Focus on becoming more competitive with treatments and technologies focused on progressing the art of plastic surgery

Continue to develop products that extend or evolve Sientra’s core offerings that maximize relevance in the future environment

Innovation

Focus on developing proprietary innovations and partnerships that advance how plastic surgeons care for their patients

Cultivate customer relationships and advance Sientra brand by building on commitment to surgeons and the patients they treat, and by

actively promoting clinical data & industry leading warranty program

Build upon highly efficient sales team to drive organic growth within and amongst practices & hospitals with goal to be a top 2 implants and

expander company in the US market

Customer

Centricity

Efficiency &

Productivity Establish a company-wide culture of focus and accountability

Make disciplined investments to drive productivity, operating leverage, and margin expansion

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INVESTMENT THESIS

STRONG PRODUCT PORTFOLIO• Comprehensive portfolio of 5th generation silicone gel breast implants

• Strong tissue expander portfolio with health and economic benefits

ROBUST SAFETY AND CLINICAL DATA

• Safety profile supported by robust 10-year data1

• Backed by leading Platinum20™ warranty program

FOCUSED COMMERCIAL MODEL• Uniquely focused on breast aesthetics and the plastic surgery channel

• Expanded sales and marketing efforts dedicated to driving patients to plastic surgery customers

• Focused on continuing to expand hospital account base through 2021

IMMEDIATE TAM GROWTH OPPORTUNITY2

• $600 million immediately addressable TAM (US Augmentation and Reconstruction + Japan)

• Large growth drivers through deeper and broader account penetration

MULTIPLE TAM EXPANSION OPPORTUNITIES

• Significant OUS market opportunity (Canada approval anticipated in 2021)

• Product innovation and development to drive new growth

CLEAR PATH TO PROFITABILITY• Exited 1Q’21 with strong momentum of 47% YoY growth for Breast Products segment

• Organizational structure optimized to increase operating leverage

• Divested miraDry business to 1315 Capital

1 Stevens WG, Calobrace MB, Alizadeh A, Zeidler KR, Harrington JL, d’Incelli RC. Ten -year core study data for Sientra’s Food and Drug Administration – approved round and shaped breast

implants with cohesive silicone gel. Plast Reconstr Surg. 2018;141(4S):7S-19S;

2 Market size based on company estimates and American Society of Plastic Surgeons annual statics report (2019)

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COMPREHENSIVE BREAST PRODUCT PORTFOLIO

Gel Implants

Tissue Expanders Scar Treatment

• First and only complete 5th generation cohesive gel breast

implants

• >250 round and >90 teardrop shaped implant options

• Robust 10-year clinical results3

• Leading 20-year warranty program

• Engineered with a strong but soft design to resist rupture

and gel fracture2

AlloX2®

Dermaspan™

Designed for comfort

and expansion

Only expander with

patented direct access

to the periprosthetic

space1

• FDA-cleared patented

crosslinked silicone

technology4

1 U.S. Patent No. 8,454,890. 2 Kinney BM, Jeffers LLC, Ratliff GE, Carlisle DA. Silicone gel breast implants: science and t esting. Plast Reconstr Surg. 2014;134(1S):47S-56S. 3 Calobrace MB,

Schwartz MR, Zeidler KR, Pittman TA, Cohen R, Stevens WG. Long-term safety of textured and smooth breast implants. Aesth Surg. 2017;1-11.(4S):7S-19S. 4 U.S. Patent Nos. 5,741,509;

8,021,683; #8,802,133; 9,336,546; 9,795,706

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EXCLUSIVE HIGH STRENGTH

COHESIVE GEL

FLAT BACK DESIGN

HIGHEST LEVEL OF GEL-

SHELL INTEGRATION1

GEL FILL LEVEL

Designed to Hold Their Shape

Balance of Strength and Softness1

IMPLANT DESIGN FEATURES & CHOICE

A Choice of Smooth and Microtextured Surface

Options

ROUND, SHAPEDPORES

GRADUAL PEAKS

AND VALLEYSSHALLOW

PATHWAYS

Sientra

Allergan BIOCELL®

Rough, sharp cubicstructures with deep

pathways

SMOOTH CONTOUR EDGES

Gel Implants

1 Kinney BM, Jeffers LLC, Ratliff GE, Carlisle DA. Silicone gel breast implants: science and testing. Plast Reconstr Surg. 20 14;134(1S):47S-56S;

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Low

Capsular

Contracture

Rate2,3

Gel Implants

Primary Augmentation Complication Rates1,2

1 Stevens WG, Calobrace MB, Alizadeh A, Zeidler KR, Harrington JL, d’Incelli RC. Ten -year core study data for Sientra’s Food and Drug Administration – approved round and shaped breast

implants with cohesive silicone gel. Plast Reconstr Surg. 2018;141(4S):7S-19S; 2 Calobrace MB, Schwartz MR, Zeidler KR, Pittman TA, Cohen R, Stevens WG. Long-term safety of textured and

smooth breast implants. Aesth Surg. 2017;1-11.(4S):7S-19S: 3 primary augmentation cohort

COMPELLING10-YEAR CLINICAL VALIDATION1

The largest breast implant study of its kind

Low

Rupture

Rate2,3

Low

Reoperation

Rate2,3

ComplicationSientra 10-Tr

(N=1,116)Mentor 10-Yr

(N=552)Allergan 10-Yr

(N=455)

Number of Implants 2,230 1,102 908

MRI Cohort Patients 398 220 158

Rupture (MRI cohort) 8.7% 24.2% 9.3%

Reoperation 24.2% 25.5% 36.1%

Capsular Contracture III/IV 12.9% 12.1% 18.9%

FOR INFORMATIONAL PURPOSES ONLY - differences exist between trial designs and subject populations. No head-to-head study has been conducted comparing Sientra's breast products to these products .

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COMMITMENT TO SAFETYLEADING 20-YEAR WARRANTY & SURGEON EXLUSIVITY

LIFETIME

Guarantee

20-Year

Guarantee

2-Year

Pledge

✓ FREE implant replacement for implant rupture

✓ Up to $5,000 for uncovered fees and costs due to implant rupture and $7,500 for uncovered fees and costs due to BIA-ALCL

✓ FREE implant replacement for complications of capsular contracture, (Baker Grade III/IV), late forming seroma1, double capsule and BIA-ALCL

✓ Up to $2,000 for uncovered fees and costs due to capsular contracture (Baker Grade III/IV), late forming seroma1 and double capsule

Gel Implants

Surgeon

Exclusivity

✓ The only silicone gel implant available exclusively to board-certified and board-eligible plastic surgeons

✓ We believe high-performing implants exclusively in the hands of the most skilled and qualified surgeons lead to safer and more natural outcomes

1 For qualifying patients with late forming seroma, Sientra will cover the cost of complete testing, based on current best pr actices, for Breast Implant Associated-Anaplastic Large Cell

Lymphoma (BIA-ALCL).

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INNOVATIVE BREAST TISSUE EXPANDERS

AlloX2®

ONE of a kind

Dermaspan™ONE for all

aspiration port

expansion port

Integral drain

✓Soft, pliable outer shell reduces friction upon insertion

✓Without ridges or rings for improved comfort

✓Port location designed to aid in predictable, consistent expansion

Dual-port design and integral drain:

✓Provide direct access to the periprosthetic space

✓Enable fluid aspiration and allow for less invasive, non-surgical draining of serious fluid

✓Mitigate risks associated with breast expansion and ultimately reduce reoperation rates

✓Allow for diagnostic fluid sampling

Soft, refined design allows for gentle and more comfortable expansion

Tissue Expanders

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ALLOX2 SUPPORTING HEALTH AND ECONOMIC OUTCOMES• A seroma increases the risk of major infection in breast reconstruction patients

• Clinically relevant infection in poor salvage rates occurred in 1/5 seroma patients (18.8%)1

• With current standard of care, 78% of infections require explantation1

• Re-operation costs can run upwards of +$20K2

Tissue Expanders

1 Jordan SW, Khavanin N, Kim JYS. Seroma in prosthetic breast reconstruction. Plast Reconstr Surg. 2016;137:1104 -1116; 2 Macario A. What does one minute of operating room time cost? Journal of Clinical

Anesthesia. 2010;22, 233-236; 3 Fairchild B, Ellsworth W, Selber JC, Bogue DP, Zavlin D, Nemir S, Checka CM, Clemens MW. Safe ty and Efficacy of Smooth Surface Tissue Expander Breast Reconstruction. Aesth

Surg. Volume 40, Issue 1, January 2020, Pages 53-62, https://doi.org/10.1093/asj/sjy199. 4 Zeidler K, Capizzi P, Pittman T. (2018). Sientra AlloX2 Short Term Case Study, Surgical Pearls & Roundtable

Discussion. Manuscript submitted for publication.

Allox2 clinically shown to improve expander salvage rates and clinical outcome3

100% Surgeon Satisfaction Using Allox24

In a clinical study with 40 primary reconstruction patients, the Allox2 was deemed successful in treating seromas and should be considered a tool for noninvasive treatment of common complications of tissue expander-based reconstruction

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Compelling safety and clinical validation

Varied sizes, textures and shapes allow surgeons to meet

patient preferences

The industry’s most comprehensive warranty

Proudly manufactured and sourced in the U.S.

Tailored to a practice’s success with marketing programs,

industry education and a concierge, always-on approach

Focused exclusively on board-certified and board-

eligible plastic surgeons

Safety

Selection

Security

Supply Chain

Service

Surgeons

WHY CUSTOMERS CHOOSE SIENTRA

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NEW SIENTRA CAMPAIGN PROMOTES THE EVOLUTION OF DECISION MAKING

• Survey suggests today’s consumer wants to be informed of their brand choices with safety and support are the top drivers1

Actual Sientra Patients

“See Yourself in Sientra” Campaign

1 Based on survey of consumers (n=215) and plastic surgeons (n=109), July 2020

• Patients: 80% surveyed likely to ask for Sientra by name once informed on competitive differentiation

• Surgeons: 71% would add a new brand if more patients ask and 55% would switch manufacturers if more patients ask

• Digital marketing efforts focused on unique product benefits & unrivaled safety profile backed by industry leading Platinum20™Warranty

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STRONG BREAST PRODUCTS GROWTH

CADENCE CONTINUED IN Q1

1. Includes Japan sales starting in Q3 2020. 2020 Japan sales totaled $1.7M

1Q21 Growth Drivers

• Continued share gains

within accounts

• Outperformance of

overall augmentation

market

• 200+ new account

openings – total active

accounts to 2,400

$11.2

$12.6 $12.8 $12.5

$9.3

$15.3

$17.9 $18.3

19%

47%

22%28%

-17%

21%

40%47%

-200%

-150%

-100%

-50%

0%

50%

$0

$5

$10

$15

$20

$25

Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21

$ M

illio

ns

Breast Products YoY Growth

Impact of

Covid-19

1

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FY 2020 SALES SUMMARY

Consolidated Net Sales Breast Products Segment Net Sales & Y/Y Growth

Momentum continued into 2021Shift in investment to Breast Products from miraDry in 2Q20 reflected

in miraDry net sales decline FY2020

$31.1 $37.3

$16.2

$37.0

$46.4

$55.0

2018 2019 2020

Net Sales ($ in millions)

MiraDry Breast Products

$68.1

$83.7

$71.2

$8.5 $9.8 $12.5

$9.4 $11.2 $9.3 $8.6

$12.6 $15.3

$10.4

$12.8

$17.9

2018 2019 2020

Net Sales / Growth($ in millions)

Q1 Q2 Q3 Q4

+22%

+47%

+19%

+14%

+40%

+21%

-17%

+28%

+28%

+13%

+15%

+14%

$37.0

$46.4

$55.0

Cash balance of $80.4M as of March 31, 2021 Including Net Proceeds of ~$39.2M from February 2021 Public Offering

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2021FINANCIAL GUIDANCE

Sales• Breast Products net sales of $72 - $76 million, representing 31 - 38% y/y growth

Operating Expenses

• FY 2021 OpEx expected to be in the range of $85 - $90 million(1)

1 Excluding impairment and restructuring charges

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