Proto Labs : Protolabs Investor Presentation – March 2024

• These slides may contain forward-looking statements. These statements relate to future events or to future financial performance and involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," or "continue" or the negative of these terms or other comparable terminology. You should not place undue reliance on forward- looking statements because they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond our control and that could materially affect actual results, levels of activity, performance, or achievements.

• Other factors that could materially affect actual results, levels of activity, performance or achievements can be found in Protolabs' SEC filings, including the annual Form 10-K filings and the quarterly Form 10-Q filings. If any of these risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may vary significantly from what we projected. Any forward-looking statement you see or hear during this presentation reflects our current views with respect to future events and is subject to these and other risks, uncertainties, and assumptions relating to our operations, results of operations, growth strategy, and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, whether as a result of new information, future events, or otherwise.

• Non-GAAPFinancial Measures: Protolabs management believes that presenting certain non- GAAP financial measures provides meaningful information to investors in understanding operating results and may enhance investors' ability to analyze financial and business trends. Non-GAAP measures are not a substitute for GAAP measures and should be considered together with the GAAP financial measures. As calculated, our non-GAAP measures may not be comparable to other similarly titled measures of other companies. In addition, Protolabs management believes that these non- GAAP financial measures allow investors to compare period to period more easily by excluding items that could have a disproportionately negative or positive impact on results in any particular period. GAAP to non-GAAP reconciliations are included in this presentation.

We are the digital manufacturing industry leader

• Pioneered digital manufacturing in 1999
• Unique hybrid model using in-house digital manufacturing factories and growing network of manufacturing partners (factory x network)
• Fastest and most reliable lead times in the industry (parts reliably delivered in as fast as 1 day)
• Biggest and most profitable; largest customer base

$100+ billion attractive and fast-growing market

• Digital is the next frontier, driven by several megatrends
• Shorter product lifecycles, SKU proliferation, sustainability standards, onshoring momentum
• Global desire for agile, local, sustainable supply chains

Catalysts driven by combination of innovation, R&D, and M&A

• Significant future upside expected from Hubs acquisition
• Enhanced e-commerce platform went live in 2021; long tail of benefit expected
• Continued innovation and R&D

Strong financial profile: $115M1 of cash and investments; no debt

▸~1M sq. ft. of in-house▸digital manufacturing

100s of digitally enabled global manufacturing partners

* See appendix for reconciliation

Massive Opportunity

in an Attractive,

Growing Market

▸Outsourced portion of the market is extremely fragmented

We have unmatched scale

Digitization of manufacturing and supply chain disruption causing companies to seek single-source manufacturing ▸providers

We are building a one-stop shop via a hybrid model combining in-house and outsourced manufacturing (any type of part, any quantity, any lead time)

We are uniquely positioned to capitalize on shifting industry trends in a fast-growing $100B+ market.

$2 trillion global

manufacturing market

$100B+

addressable market