Redcare Pharmacy N.V.

Investor Presentation • Mar 29, 2023

Joint Venture. GALENICA & SHOP APOTHEKE EUROPE. Media & Analysts' Conference.

Zurich, 30 March 2023.

Disclaimer: Joint venture is subject to anti-trust clearance.

Agenda. Who is here today.

Introduction.

Stefan Feltens, CEO SHOP APOTHEKE EUROPE.

Presentation of GALENICA.

Marc Werner, CEO GALENICA.

Presentation of SHOP APOTHEKE EUROPE.

Stefan Feltens, CEO SHOP APOTHEKE EUROPE.

Presentation of Mediservice.

André Lüscher, CEO Mediservice.

Financial Details.

Felix Burkhard, CFO GALENICA, Jasper Eenhorst, CFO SHOP APOTHEKE EUROPE.

Q&A.

Introduction. Stefan Feltens, CEO SHOP APOTHEKE EUROPE.

The Strategic Partnership.

Presentation of the Joint Venture between GALENICA and SHOP APOTHEKE EUROPE to create the leading online pharmacy in Switzerland

with sales approaching half a billion Swiss francs / euros:

A real B2C powerhouse.

• Combining the business activities of Mediservice and shop-apotheke.ch in one company.
• Mediservice as the leading specialty pharmacy in Switzerland focusing on the mail-order of prescription drugs as well as on complex diseases.
• SHOP APOTHEKE EUROPE as the leading online pharmacy in Europe operating a rapidly growing health platform in Switzerland with shop-apotheke.ch.

The Benefits.

Mediservice and shop-apotheke.ch complement each other very well resulting in a more comprehensive range of products and services that guarantee an even better customer experience.

• Merging of Mediservice's specialty pharmacy expertise with SHOP APOTHEKE's e-commerce proficiency.
• Reciprocal access to both parties' product assortments and customer propositions.
• Availability of Mediservice's specialty pharmacy services to SHOP APOTHEKE EUROPE's broad base of Swiss customers.

The Assignment.

• Mediservice to take over the business activities of shop-apotheke.ch.
• SHOP APOTHEKE EUROPE to hold 51% and GALENICA 49% of the joint venture.
• GALENICA will receive an 8% stake in SHOP APOTHEKE EUROPE as part of a capital increase to finance the transaction.

Presentation of GALENICA.

Marc Werner, CEO GALENICA.

Improving the Customer Experience at All Levels.

• We have reached a milestone in our Omni-Channel strategy!
• We are further improving the customer experience and will meet the different needs of customers and patients even better in the future!
• We create added value - in the Swiss healthcare market and for our companies, for our customers and partners, for our employees and shareholders. Sustainable!

. The Galenica Network: The Strongest and Leading Partners in the Swiss Healthcare Market.

Galenica in Figures.

• Leading healthcare provider in Switzerland.
• Net sales of CHF 4 billion and over CHF 200 million adjusted EBIT.
• Employees > 7,600.
• Share price development since IPO (2017): +76%.

Switzerland's Leading Fully-Integrated Healthcare Provider.

Strongest network of pharmacies in Switzerland with over 500 pharmacies.

Well-known own brands and products as well as exclusive licensed products from business partners.

Wide range of services for patients in the pharmacy or at home and professional service providers.

Leading provider of logistics and IT Services in the healthcare sector.

The Galenica Story.

Health and wellbeing are at the heart of what we do. They are the reason we give our best every day.

We build trust We show respect Together, we are stronger We act as entrepreneurs We participate with passion

We support people at every stage of life on their journey towards health and well-being. With personal and expert advice and a unique range of products and services. Anytime and anywhere in Switzerland.

• Milestone in the Omni-Channel strategy.
• Strong partners who complement each other ideally.
• The leading pure online pharmacy in Switzerland.
• Our customers benefit.
• Our companies, employees and shareholder benefit.
• Rapid, strong and profitable growth.

• Milestone in Omni-Channel strategy.
• Improved customer experience.
• Added value. Sustainable!

Presentation of SHOP APOTHEKE EUROPE. Stefan Feltens, CEO SHOP APOTHEKE EUROPE.

SHOP APOTHEKE EUROPE TODAY.

Leading Positions in Europe.

• Undisputed market leader In Belgium.
• Undisputed market leader In Austria.
• Largest and most visited pharmacy webshop In Germany.

JOINT VENTURE WITH GALENICA TO BECOME THE LEADING ONLINE PHARMACY IN SWITZERLAND.

.

SHOP APOTHEKE EUROPE: Europe's One-Stop Pharmacy of the Future.

Active Customers (millions). More Customers, Higher Market Shares.

Our Mission. We enable everyone to live the healthiest life possible.

FROM A PURE ONLINE RETAILER …

… TO EUROPE'S LEADING CUSTOMER-CENTRIC E-PHARMACY PLATFORM.

Commitment to Net-Zero by 2040.

• Reduction of scope 1 and 2 carbon emissions of 80% achieved three years ahead of plan.
• MSCI ESG rating AAA.

Presentation of Mediservice.

André Lüscher, CEO Mediservice.

The Leading Specialty Pharmacy in Switzerland.

Pharma Care direct to patient delivery of prescription drugs.

Home Care Patient support programmes at home.

Distance Care Telepharmacy Services.

Mediservice: The Leading Mail-Order Pharmacy in Switzerland.

• +12.9% YoY sales growth in 2022 in the area of rare diseases.
• 700-1000 shippings a day.
• Over 60 specialty indications.

Mediservice: We Care and Accompany Our Patients.

• Constantly expanding services, moving from a highly specialised mail-order pharmacy to a Distance Healthcare Provider for chronic diseases.
• Very high customer satisfaction score: 9.3/10 and high customer loyalty generating recurring sales.
• We care and accompany our patients, so they can stay healthy@home!

Financial Details. Felix Burkhard, CFO GALENICA.

Transaction Structure.

51% Mediservice

104% Commitment for our Customers.

Galenica: Updated Guidance.

• P&L 2022 of Galenica will be restated, Mediservice will be deconsolidated and shown as discontinued operations.
• Future EBIT will include share of profit from the JV.
• Based on restated P&L 2022, Galenica expects revenue to grow between +3% to +6% and EBIT1 to grow between +4% to +7%.

Financial Details. Jasper Eenhorst, CFO SHOP APOTHEKE EUROPE.

Number of Shares at SHOP APOTHEKE EUROPE Pre- and Post-Transaction.

• SHOP APOTHEKE EUROPE new shareholder:

8% of shares outstanding, post-transaction.

Financial Reporting at SHOP APOTHEKE EUROPE Post-Transaction.

• In accordance with IFRS10, full consolidation of Mediservice AG figures as of deal closing date.
• Current Mediservice business expected numbers for full year 2023: sales around CHF 450 million and EBITDA margin 2 to 3%. All sales are prescripton medication (Rx) sales.
• E.g. if closing of transaction in May, in 2023 SHOP APOTHEKE EUROPE's sales will increase by EUR 270 –300 million and EBITDA by EUR 5 –10 million.
• One-off cash-in of EUR 29 million, for 0.4 million shares.

Financial Guidance 2023 of SHOP APOTHEKE EUROPE Reconfirmed.

In Addition, Sales and EBITDA will Increase from the Transaction.

Repeat of the outstanding guidance:

• 10% to 20% growth in non-Rx sales (mid-point 15%).
• Adj. EBITDA margin in the range of 0.5% to 2.5% (mid-point 1.5%).
• Free cash flow in the range of EUR -20 million to EUR 20 million (mid-point 0).
• Above guidance excludes a potential e-Rx surge during 2023 in Germany.
• Adj. EBITDA margin in mid- to longer term in excess of 8%.

Following the closing of the transaction, e.g. in case of closing in May:

• Net sales will increase by EUR 270 –300 million, all prescription (Rx) sales.
• Adj. EBITDA expected to increase by EUR 5 –10 million.
• We will reconfirm or provide additional guidance for this impact after the closing.

Conclusion. Stefan Feltens, CEO SHOP APOTHEKE EUROPE.

Introducing the Leading Online Pharmacy in Switzerland.

• Based on a strategic partnership that creates a real B2C powerhouse in the swiss online pharmacy market.
• Combining two strong companies with unsurpassed specialty pharmacy expertise and top-notch e-commerce proficiency.
• Offering a broader product choice and outstanding services for customers and patients in Switzerland.
• Appealing value propositon of Mediservice for current shop-apotheke.ch customers.