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Exhibit 21.1

LIST OF SUBSIDIARIES

OF PARAGON 28, INC.

as of December 31, 2024

Company

Jurisdiction of Formation

Paragon 28 Medical Devices Trading Limited1

Ireland

Paragon 28 Australia PTY LTD2

Australia

Paragon 28 DE Gmbh1

Germany

Paragon 28 Italia SRL1

Italy

Disior Oy1

Finland

Paragon Advanced Technologies, Inc.1

Delaware

Paragon 28 UK, LTD1

United Kingdom


1100% owned by Paragon 28, Inc.

2 100% owned by Paragon 28 Medical Devices Trading Limited