TELA Bio, Inc.

You should carefully consider the risk factors described in our Annual Report, under the caption “Item 1A. Risk Factors.” Except as described below, there have been no material changes in our risk factors disclosed in our Annual Report.

Our business may be materially adversely affected by the imposition of tariffs and other trade barriers and retaliatory countermeasures implemented by the United States and other governments.

The U.S. has announced and/or implemented significant new tariffs on imports from a wide range of countries, which has prompted retaliatory tariffs by a number of countries and a cycle of retaliatory tariffs by both the U.S. and other countries. In early April 2025, actions were taken by the U.S. and certain other countries to delay the effective date of certain of these tariffs, but as of the date of this report a number of new tariffs remain in effect, including 10% tariff on imports from New Zealand. Collectively, these tariffs increase the cost to us of our OviTex and OviTex PRS products, which are manufactured by Aroa in Auckland, New Zealand, which in turn may require us to implement surcharges and/or increase the price of certain of our products. Any such surcharges or price increases to offset the impact of the tariffs may adversely impact demand for our products and our competitive positioning. In addition, whenever we are unable to fully recover higher costs, or whenever there is a time delay between the increase in costs and our ability to recover these costs, our margins and profitability can decline. The U.S. may implement additional tariffs and other measures, further retaliatory tariffs and other retaliatory actions may follow and the risks and adverse effects noted above may increase. The full impact of these tariffs and other actions on our company remains highly uncertain and subject to rapid change.