Exhibit 99.3

ZIMMER BIOMET HOLDINGS, INC.

RECONCILIATION OF

2016 PROJECTED ADJUSTED DILUTED EPS

TO PROJECTED DILUTED EPS

(unaudited)

	High			Low
Projected Year Ended December 31, 2016:
Diluted EPS	$	2.67		$	2.52
Inventory step-up and other inventory and manufacturing related charges, intangible asset amortization and special items		7.18			7.18
Taxes on above items*		(1.85	)		(1.85	)
Adjusted Diluted EPS	$	8.00		$	7.85

* The tax effect is calculated based upon the statutory rates for the jurisdictions where the items were or are projected to be incurred.