Cipla Ltd. — Regulatory Filings 2021

Aug 5, 2021

5[th] August, 2021

(1) BSE Limited (2) National Stock Exchange of India Limited Listing Department, Listing Department Phiroze Jeejeebhoy Towers, Exchange Plaza, 5[th] floor, Dalal Street, Plot no. C/1, G Block, Mumbai 400 001 Bandra Kurla Complex, Bandra (East), Mumbai - 400 051

Scrip Code: 500087

Scrip Code: CIPLA EQ

(3) SOCIETE DE LA BOURSE DE LUXEMBOURG Societe Anonyme 35A Boulevard Joseph II, L-1840 Luxembourg

Sub: Investor Presentation

Dear Sir/ Madam,

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing the investor presentation dated 5[th] August, 2021.

Kindly take the above information on record.

Thanking you,

Yours faithfully, For Cipla Limited

RAJENDR Digitally signed by RAJENDRA A KUMAR KUMAR CHOPRA Date: 2021.08.05 CHOPRA 19:03:23 +05'30'

Rajendra Chopra Company Secretary

Encl: as above Prepared by: Nishtha Agrawal

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Investor Presentation Q1FY22 August 5, 2021

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CLICK TO EDIT MASTER TITLE STYLE DISCLAIMER

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Except for the historical information contained herein, statements in this presentation and the subsequent discussions may constitute "forward-looking statements". These forward-looking statements involve a number of risks, uncertainties including impact of Covid-19 and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to our ability to successfully implement our strategy, our growth and expansion plans, our ability to obtain regulatory approvals, technological changes, fluctuation in earnings, foreign exchange rates, our ability to manage international operations and exports, our exposure to market risks as well as other risks.

The investor presentation is not intended to endorse, advertise, promote or recommend the use of any products listed in it which are for representation purpose only, some of which are reference listed drugs of which the Company has approved, under approval or under development generic equivalents. The prefixes “g” and “generic” used interchangeably indicate the generic versions of the named brand drugs.

Information relating to any medical products or medical devices contained herein is provided by Cipla for general information purposes only. Information on any of the medical products or medical devices may vary from country-to-country. A reference to a medical product or a medical device does not imply that such medical product or medical device is available in your country. The commercial availability of the medical products or medical devices listed herein in your country is dependent on the validity and status of existing patents and/or marketing authorizations related to each. An independent enquiry regarding the availability of each medical products or medical device should be made for each individual country.

The product information contained herein is not intended to provide complete medical information, and is not intended to be used as an alternative to consulting with qualified doctors or health care professionals.

Nothing contained herein should be construed as giving of advice or the making of a recommendation and it should not be relied on as the basis for any decision or action. It is important to only rely on the advice of a health care professional.

Continued progress across our key strategic priorities CLICK TO EDIT MASTER TITLE STYLE

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South Africa & International Global lung leadership & US
One India
Markets Generics
❖ Strong traction across branded
❖ Growth 1.5 times of SA private ❖ Strong scale-up in US Direct to
prescription, trade generics and
market [1] market and institutional space
consumer wellness
❖ Multi-quarter market beating growth ❖ High growth of 8.5% in SA OTC ❖ Respiratory unlocking and ramp-up
private market [1] in Albuterol for the US markets
in branded prescription
❖ Consistent launch momentum with
❖ Consumer brands delivering strong ❖ Arformoterol Tartrate Inhalation
Growth growth post transition three chronic and two OTC brands Solution launched in Q1FY22
launches in Q1FY22
❖ Comprehensive Covid-19 portfolio
❖ Among the top 10 generic
❖ 3 [rd] largest [1] pharmaceutical companies in the US by
❖ 3 [rd] rank & 7.1% market share in SA
company prescriptions; growing faster than the
private market [1 ]
❖ 3 [rd] largest [1 ] in branded prescription market growth rate in FY21
❖ 3 [rd] rank & 6.6% market share in SA
❖ 11 brands [1] amongst top 100 in IPM OTC private market [1] ❖ 3 [rd] largest [4] in overall albuterol
market in the US
Market ❖ Largest hospital business [2] ❖ Largest Indian exporter [3] to the
❖ Second largest [2] inhaler company
position emerging markets in FY21
❖ Largest [2] in trade generics with ~141 MDI & DPI sold globally in
FY21
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1. Market share data as per IQVIA MAT June 2021 | 2. Internal estimates |3. As per IntelliMax Finished Formulation Export Data|4. TRx market share data as per IQVIA week ending 9[th] July, 2021

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Strong demand-led momentum in core therapies across branded markets and continued respiratory unlocking in the US drive CLICK TO EDIT MASTER TITLE STYLE Q1FY22 performance

One India Overall Revenue Trade Consumer Prescription Generics Health Overall Continued market Solid traction in core 68% Strong demand revenue beating growth over and transferred across regions (Q1 YoY Growth) multiple quarters products Sustained SAGA 27% momentum in branded (Q1 YoY Growth) 13% 7% 40% markets Overall SA SSA SAGA (Q1 YoY growth private (Q1 YoY growth (Q1 YoY growth in $ Terms) in ZAR Terms) in $ Terms) Overall EBITDA North America $141Mn 5% Continued market share expansion in overall albuterol market Q1FY22 Revenues (Q1 YoY Growth) 28% International Markets & API API (Q1 YoY Growth) Forex challenges One-time profit in certain markets; share on API International EBITDA 32 14% recovery 69% supplies 24.5% Markets expected Margin (bps YoY) (Q1 YoY growth in $ Terms) (Q1 YoY growth in $ Terms)

Strong capital structure and robust free cash flow generation continues in FY22 CLICK TO EDIT MASTER TITLE STYLE

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Net Cash [1 ] Net Cash / Equity Cash Balances [2 ]
(INR Cr) (INR Cr)
0.15
2,964
4,895
0.10
3,676
1,921
Mar'21 Jun'21
Mar'21 Jun'21 Mar'21 Jun'21
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• Continued governance on cash and liquidity management

• Growth in operating profitability and prudent working capital management drives robust free cash flow generation

• Net cash positive position continues at June-21 end reflects strong balance sheet health

• Net Cash = Total Cash balances - Total debt | 2. Includes cash and cash equivalents and current investments excluding unclaimed dividend balances

Financial Performance – Q1FY22 CLICK TO EDIT MASTER TITLE STYLE

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Revenues INR 5,504 Cr 27% YoY

EBITDA 24.5% 28% YoY INR 1,346 Cr │

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Q1 FY22 (Consolidated)
Actuals
vs Q1 FY 21
(Rs Cr)
Total Revenue from
5,504 27%
Operations
EBITDA 1,346 28%
EBITDA % of revenue 24.5% 32 bps
PAT [2] 715 24%
PAT % of revenue 13.0% -31 bps
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R&D INR 264 Cr Focused R&D investments

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Revenue [1] Break-up
Others, 1%
API, 5%
International
Markets,
11%
SAGA,
India, 49%
15%
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North America, 19%
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1. As per IQVIA 2. Sri Lanka, Myanmar, Nepal and Morocco Emerging Markets and Europe I 2 includes impact of impairment | Figures have been rounded-off

+ One India (Rx Gx+ CHL[1] ): Consistent execution driving growth across businesses in India CLICK TO EDIT MASTER TITLE STYLE

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Key Business Highlights

Branded prescription business

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• ❖ Strong volume traction in core therapy portfolio

• ❖ Acute and respiratory nebulization recovered well

• ❖ Covid portfolio support from second wave in India

	Therapy2	Market Rank	Market share		Cipla Growth	Market growth
	Overall Chronic	2	• 8.2%	7	16%	12%
	Respiratory	1	24.0%		14%	4%
	Urology	1	14.8%		7%	10%
	Anti-infective	3	7.5%		10%	9%
	Cardiac	5	5.3%		10%	15%

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Trade generics business

• ❖ Healthy order flow across regions benefiting from strong demand tailwinds across core portfolio and covid ancillary products

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• Consumer health business ❖ Continued traction in anchor brands as well as brands transferred from trade generics business

One India

Rs. Cr

Q1 Y-o-Y

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2,710
68%
1,608
Q1FY21 Q1FY22
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1. CHL – Cipla Health Limited │2. Market data as per IQVIA IMS MAT June 2021

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Global consumer health franchise gaining traction CLICK TO EDIT MASTER TITLE STYLE

6.9% contribution to overall revenues in Q1FY22; Improving consumer health outcomes

Anchor consumer brands in India[1]

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3% #1
31% #1 (Q1FY22 NRT
Pain Relief Category YoY growth) Category
(Q1FY22
(May 2021) (March 2021)
YoY growth)
111% #2
(Q1FY22 Cough & Cold
65 % YoY growth) Category
(May 2021)
(Q1FY22 YoY growth)
Emerging consumer brands in India [1]
128% 69%
(Q1FY22 YoY growth) (Q1FY22 YoY growth)
150% 195%
(Q1FY22 YoY growth) (Q1FY22 YoY growth)
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Anchor consumer brands in South Africa
41%
22%
(Q1FY22 YoY
(Q1FY22 YoY
growth in ZAR
growth in ZAR
Terms)
Terms)
45% 8% 6%
(Q1FY22 YoY growth (Q1FY22 YoY growth (Q1FY22 YoY growth
in ZAR Terms) in ZAR Terms) in ZAR Terms)
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1. Market data as per Nielsen; *nicotine replacement therapy

SAGA[1] : South Africa, Sub-Saharan Africa and Cipla Global CLICK TO EDIT MASTER TITLE STYLE Access

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Key Business Highlights

SAGA: 13% Y-o-Y

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South Africa

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$ Mn
SA Private
market Q1 Y-o-Y
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• ❖ Continued market beating growth in South Africa (SA) private business

• ❖ Double digit growth and market share gain in Antiretroviral and oncology private market[2]

7% (Q1 YoY growth in ZAR Terms)

27 28 22 25 64 47 Q1FY21 Q1FY22 South Africa Private Others (SSA & CGA) South Africa Tender

• ❖ Moved up three places to 3[rd] in systemic anti-infectives private market[2]

	Market Segment2	Market Rank	Market share	Cipla Growth	Market Growth
	South Africa private	3	7.1%	7.6%	5.1%
	South Africa OTC	3	6.6%	8.5%	12.2%

Sub-Saharan Africa (SSA) & Cipla Global Access (CGA)

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• ❖ SSA: Strong demand seen in markets impacted by Covid-19 as compared to last year

• ❖ CGA: Performance in-line with order flow; sales traction witnessed in TLD

• Financial numbers are rounded off │2. Market data as per IQVIA MAT June 2021

North America: Continued traction in core formulation portfolio CLICK TO EDIT MASTER TITLE STYLE

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Key Business Highlights

North America

US Generics ramp-up continues

• ❖ Continued market share expansion in overall Albuterol market

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❖ Continued market share expansion in overall Albuterol market $ Mn
❖ New approval: Arformoterol Tartrate Inhalation Solution 15 mcg / 2 mL
Q1 Y-o-Y
❖ Entered into the top 10 generic companies in the US by prescriptions in
FY21 driven by unlocking of respiratory franchise as well as strong limited
competition launches over the last 2-3 years 141
5%
❖ Focus continues on limited competition complex launches
135
• 1
0
Albuterol HFA market [1] segment TRx Market Rank TRx Market share
gProventil 1 89.3%
Generic market (AG + Gx) 3 17.6%
Total market (Brand + AG + Gx) 3 14.1%
Pipeline update
Q1FY21 Q1FY22
❖ Closely working with USFDA on gAdvair
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1. Market data as per IQVIA week ending 9[th] July 2021

ANDA & NDA[1] Portfolio & Pipeline (As on 30[th] June 2021) CLICK TO EDIT MASTER TITLE STYLE

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Total ANDAs
171 18 74 263
& NDAs
22
58
9
4
21
8
82
3
41
1
9
5
Approved Tentatively Under Approval
ANDAs/NDAs Approved ANDAs ANDAs/NDAs
2
Cipla Ltd PEFPAR Invagen Partnered ANDAs
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1 Does not include Vet product ANDAs

2 PEPFAR approved ANDAs can be commercialised in US

International Markets and API

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International Markets

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$ Mn
Q1 Y-o-Y
92
-14%
79
Q1FY21 Q1FY22
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Key Business Highlights

• ❖ Emerging markets business impacted by timing deferral pertaining to in-country currency allocation for our middle eastern supplies; recovery expected in Q2FY22

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• ❖ Strong in-market performance continues across key DTMs

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API
$ Mn
Q1 Y-o-Y
41
69%
24
Q1FY21 Q1FY22
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Key Business Highlights

• ❖ Sales momentum supported by strong customer relationships

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• ❖ Revenue include one-time profit share on the commercial supply of an API to a partner

• ❖ Continued traction with global seedings & lock-ins

Our FY22 priorities include CLICK TO EDIT MASTER TITLE STYLE

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Ensuring Covid portfolio availability and maximize patients reach

Maintain market beating growth in large branded and unbranded generic franchises of India, South Africa and augment consumer wellness franchise

Expanding lung leadership globally and maximising value opportunity in US complex generics by prioritizing key launches with focused execution and collaborating with regulatory authorities Scaling up businesses across branded and generic DTMs of Europe and Emerging markets through execution on organic and partnered launches including biosimilars

Accelerating digital transformation to capitalize opportunities and growth opportunities across markets Focus on regulatory compliance across manufacturing locations and embrace best-in class globally benchmarked ESG[1] practices

Sustained expansion in RoIC over the long term

1. Environmental, Social and Governance

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Thank You

Registered Office :

Cipla Limited, Cipla House, Peninsula Business Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai 400 013

For any queries, please contact

Naveen Bansal Investor.Relations@cipla.com

For more information please visit www.cipla.com