March 2020

Forward Looking Statements and Regulatory Advisory

Forward Looking Statements: Certain statements in this presentation are forward-looking statements that are subject to risks and uncertainties

that could cause results to be materially different than expectations. In addition, there is uncertainty about the spread of the COVID-19 virus

and the impact it may have on the Company’s operations, the demand for the Company’s products, global supply chains and economic activity

in general. Important factors that could cause actual results to differ materially include: the advancement of Apollo products; development of

enhancements to Apollo’s existing products and technologies; market acceptance of Apollo’s products; the execution of our gross margin

improvement projects; the ability to collect future payments from ReShape; statements relating to the availability of cash for Apollo's future

operations; and Apollo’s ability to support the adoption of its products and broaden its product portfolio as well as other factors detailed in

Apollo’s periodic reports filed with the Securities and Exchange Commission, or SEC, including its Form 10-K for the year ended December

31, 2019. Copies of reports filed with the SEC are posted on Apollo’s website and are available from Apollo without charge. These forward-

looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, Apollo

disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.

Product Regulatory Advisory: This presentation is intended for the investment and financial community and not for the promotion of Apollo

products or related procedures. The Apollo Intragastric Balloon products are approved in the US as a weight loss aid for adults suffering from

obesity, with a body mass index (BMI) ≥30 and ≤40 kg/m2, who have tried other weight loss programs, such as following supervised diet,

exercise, and behavior modification programs, but who were unable to lose weight and keep it off. The Overstitch is cleared for the

endoscopic placement of sutures and the approximation of soft tissue in the GI tract The Overstitch clearance does not include procedure-

specific indications for use. Although Apollo has and continues to obtain clinical data on additional uses for its products, the safety and

effectiveness of these uses has not been cleared or approved for commercial purposes by the U.S. Food and Drug Administration.

2

$0

$2,000

$4,000

$6,000

$8,000

$10,000

$12,000

$14,000

1Q162Q163Q164Q161Q172Q173Q174Q171Q182Q183Q184Q181Q192Q193Q194Q19

CONTINUING PRODUCT REVENUE

ESS IGB

Transforming Therapeutic Endoscopy

Products • Endoscopic Suturing Systems

(ESS): OverStitch & OverStitch Sx

• Intragastric Balloon Systems (IGB):

Orbera, BIB, and Orbera365

User • Gastroenterologist

• Bariatric surgeons

Procedures • OverStitch: endolumenal surgeries

for GI tract, primary and revisional

bariatric therapies

• Orbera: interventional weight loss

Apollo Endosurgery Overview

3

CONTINUING PRODUCT

ANNUALIZED CAGR ~16%

ESS ANNUALIZED

CAGR ~38%

IGB product revenue excludes US ORBERA starter kit sales in 2016 and 2017

Operational Priorities

ESS: Accelerate momentum

in high value endoluminal

procedures

IGB: Leverage data with

consistently >10% TBW

reduction

Drive scale in the operating

model

OverStitch Sx launch

addresses

>90%OF MARKET WITH

SINGLE-CHANNEL

SCOPES

Last two years

>40%CAGR

Increased

diverse utilization

OF ORIGINAL

DUAL-CHANNEL

OVERSTITCH

HANDLE

Strong OUS market

position supports

VOLUME GROWTH

OPPORTUNITY

Increased US clinical

interest and documentation

MEDICAL WEIGHT

LOSS

Growing revenue in

CORE PRODUCT

LINES DRIVE SCALE

Margin improvement projects expected

$3.5M ANNUAL COST REDUCTION

WHEN COMPLETED

4

OverStitch™

5

OverStitch™ – How It Works

6

320+ PATENTS and PATENTS PENDING

Load needle with suture Pull tissue into device -

pass needle and

suture through tissue

Grab tissue with helix Repeat as needed.

Drop needle

Deploy cinch to

complete suturing

Pull suture to

approximate tissue

1 2 3 4 5 6

Key intellectual property beyond 2030.

Enables physicians to perform endolumenal procedures that previously could not be

Overstitch has broad current and future applications – upper and lower GI tract

OverStitch™ – Large Addressable Markets for Endolumenal Surgery

7 * See Product Regulatory Advisory, slide 2

Bariatrics

$4.8BUpper GI

$150MGLOBAL

ADDRESSABLE

MARKET

GLOBAL

ADDRESSABLE

MARKET

• Primary (ESG)

• Revisions • Stent Fixation

• ESD or EMR site closure

• POEM

• Fistula and other defect closure

IN MARKET

Reflux

• Primary

• Altered Anatomies

Lower GI

• Colorectal

IN DEVELOPMENT

ESS Market

$9,188

$16,481

$23,380

$28,309

$0

$5,000

$10,000

$15,000

$20,000

$25,000

$30,000

2016 2017 2018 2019

• Product innovation that removes capital equipment barriers

• Medical education reach to new users

• Procedure and clinical data development

• Expand OUS footprint and procedure mix

GROWTH DRIVERS

8* See Product Regulatory Advisory, slide 2

** Advanced GI includes: ESD, EMR, POEM, and other defect closure

Advanced GI**

Bariatric Revision

Stent Fixation

ESG

US ESS Revenue OUS ESS Revenue

REVENUE $ MILLIONS PROCEDURE MIX

9%

2%

22%

67%

19%

16%

42%

24%

US OUS

2%**1%

18%

0%

5%

10%

15%

20%

MULTICENTER STUDY(2) SINGLE CENTER STUDY(3)

SURGICAL BARIATRIC PROCEDURES

Outcomes for Patients – ESG for Primary Obesity1

9

* % TBWL was statistically consistent between the three centers (using three different

techniques and patient population)

** most associated with reducing the fundus, which is no longer part of the standard technique

ESG uses suturing to reduce the volume of the stomach, but without the invasiveness of surgery or removal of part of the stomach

Demonstrates significant weight loss, with low adverse events, and repeatable across various centers

% TOTAL BODY WEIGHT LOSS

AT 24 MONTHS

% SERIOUS ADVERSE EVENTS

AT 24 MONTHS

18.6%*

20.9%

0%

5%

10%

15%

20%

MULTICENTER STUDY(2) SINGLE CENTER STUDY(3)

(1) See Product Regulatory Advisory, Slide 2

(2) Gontrand Lopez-Nava, Reem Z. Sharaiha, Eric J. Vargas, Fateh Bazerbach, Galvao Neto Manoel & Inmaculada Bautista-Castaño, Andres Acosta, Mark D. Topazian, Manpreet S. Mundi, Nikhil Kumta, Michel Kahaleh, Andrea Marie

Herr, Alpana Shukla, Louis Aronne, Christopher J. Gostout , Barham K. Abu Dayyeh ; OBES SURG DOI 10.1007/s11695-017-2693-7, Volume 27, Number 5

(3) Reem Z. Sharaiha, Nikhil A. Kumta, Monica Saumoy, Amit P. Desai, Alex M. Sarkisian, Andrea Benevenuto, Amy Tyberg, Rekha Kumar, Leon Igel, Elizabeth C. Verna, Robert Schwartz, Christina Frissora, Alpana Shukla, Louis J.

Aronne, and Micheal Kahaleh, Clinical Gastroenterology and Hepatology 2017

OverStitch™ Sx – Expanded Market Reach

Commercial launch in February 2019

• Removes requirement for account to purchase specific endoscopic capital equipment

• Provides an additional working channel for better suction, insufflation, or additional instrumentation

• Improves maneuverability and visualization

ENDOLUMENAL LEAK PRESSURE*

COMPATIBLE SINGLE CHANNEL SCOPES

* Kohei Takizawa, MD, Mary A. Knipschield, Elizabeth Rajan MD; Closure of full thickness defects by endoluminal suturing: leak pressure study in an ex vivo porcine model10

Orbera®

11

How Orbera® Works – #1 Gastric Balloon in the World

12

1 2 3 4

INSERTED THROUGH MOUTH INFLATED WITH SALINE ENCOURAGES PORTION

CONTROL AND DELAYS

GASTRIC EMPTYING

DEFLATED AND REMOVED

IGB Addressable Markets

(1) ASMBS bariatric procedure data published June 2018

(2) American Society of Plastics Surgeons: 2018 National Plastic Surgery Statistics

* See Product Regulatory Advisory, Slide 213

Aesthetic Weight Loss

• 228,000 U.S. bariatric

procedures annually(1)

• 1.8 million U.S.

cosmetic surgical

procedures annually(2)

• Diverse sites for

aesthetic services:

• Plastic surgery centers

• Bariatric clinics

• Endo-bariatric (GI)

clinics

IN MARKET

Medical Weight Loss

• Non-cirrhotic NASH with

fibrosis

• Bridge to Orthopedics or

General Surgery

• Solid Organ

Transplantation

IN DEVELOPMENT

Orbera® (IGB) Revenue

ASGE Bariatric Endoscopy Task Force and ASGE Technology Committee. Journal of Gastrointestinal Endoscopy. 2015 Sep; Epub 2015 Jul 29. 14

• CE marked in 1997, FDA approved in August 2015

• Only balloon currently meeting ASGE’s threshold standards(1) for safety and efficacy

• More than 230 peer reviewed publications reporting weight loss results consistently >10% TBW

• Completed Orbera FDA Post Approval Study 4Q 2019

$-

$500

$1,000

$1,500

$2,000

$2,500

$3,000

$3,500

$4,000

1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19

US OUS

IGB product revenue excludes US ORBERA starter kit sales in 2016 and 2017

Medical Relevance of 10% weight loss on Liver Disease

(1) Manuel Romero-Gomez, Shira Zelber-Sagi, Michael Trenell - Treatment of NAFLD with diet, physical activity and exercise; graphic included as modified from Vilar-Gomez E, Martinez-Perez Y, Calzadilla-Bertot L, Torres-Gonzalez A,

GraOramas B, Gonzalez-Fabian L, et al. Weight loss through lifestyle modification significantly reduces features of nonalcoholic steatohepatitis. Gastroenterology 2015;149:367–378, [Quiz e314–e365].15

% WEIGHT LOSS (WL)

Results over a 52-Week Period

of Lifestyle Intervention (1)

<5%> <7%> <10%>

NASH – Resolution 10% 26% 64% 90%

Fibrosis Regression 45% 38% 50% 81%

Steatosis Improvement 35% 65% 76% 100%

% of Patients Achieving WL 70% 12% 9% 10%But patients experience a

low success rate in meeting

the meaningful weight loss

thresholds

Highest rates of

NASH resolution,

Fibrosis regression,

and reduction in

liver fat occur with

>10% TBWL

2020 Clinical Data Programs

16

• MERIT RCT Trial for ESG

• AGA Endoscopic Suturing Registry

• European Bariatric Registry

• European GI Registry

• Various Investigator Initiated Studies

• European Post Market Study for Orbera365

• Various Investigator Initiated Studies

Ongoing Gross Margin Programs

17

Helix

Transfer

complete Q3 2017

Orbera

Delivery system

complete Q3 2018

Suture

Anchor needle production

complete Q3 2017

Cinch

Transfer

complete Q3 2018

* Estimate based on 2018 production volumes; effects will phase in over time following project completion

Suture

Suture anchor assembly

complete Q3 2019

EXPECTED IMPACT OF COMPLETED PROJECTS

$3.25 million per year*

reduction in material and

purchased goods cost

8% improvement in Gross

Margin on Endo-bariatric

products*

FDA approved suture-anchor assembly September 2019 expected to reduce suture cost by ~50%

$2.5 million* additional ESS cost savings

CURRENT PROJECTS

COMPLETED PROJECTS

Operational Priorities

ESS: Accelerate momentum

in high value endoluminal

procedures

IGB: Leverage data with

consistently >10% TBW

reduction

Drive scale in the operating

model

OverStitch Sx launch

addresses

>90%OF MARKET WITH

SINGLE-CHANNEL

SCOPES

Last two years

>40%CAGR

Increased

diverse utilization

OF ORIGINAL

DUAL-CHANNEL

OVERSTITCH

HANDLE

Strong OUS market

position supports

VOLUME GROWTH

OPPORTUNITY

Increased US clinical

interest and documentation

MEDICAL WEIGHT

LOSS

Growing revenue in

CORE PRODUCT

LINES DRIVE SCALE

Margin improvement projects expected

$3.5M ANNUAL COST REDUCTION

WHEN COMPLETED

18

Leading Products in Minimally Invasive Therapies

Stefanie Cavanaugh

Chief Financial Officer

investor-relations@apolloendo.com

Matt Kreps

Darrow Associates Investor Relations

mkreps@darrowir.com