Diasorin — Investor Presentation 2021

Dec 17, 2021

DiaSorin

INVESTOR DAY

Milan - December 17, 2021

DISCLAIMER

In General. This disclaimer applies to this presentation and any oral comments of any person presenting it. This document, taken together with any such oral comments, is referred to herein as the "Presentation". This Presentation has been prepared by DiaSorin S.p.A. ("DiaSorin" or the "Company" and, together with its subsidiary the "Group"). The Presentation is being furnished to you for information purposes only and for use in presentations of the industrial plan of the Group.

No distribution of this Presentation. This Presentation is being furnished to you solely for your information and may not be reproduced, in whole or in part, or redistributed to any other individual or legal entity.

Verbal explanation. This Presentation has to be accompanied by a verbal explanation. A simple reading of this Presentation without the appropriate verbal explanation could give rise to a partial or incorrect understanding.

No offer to purchase or sell securities. The information, statements and opinions contained in this Presentation are for information purposes only and do not constitute a public offer under any applicable legislation or an offer to sell or solicitation of an offer to purchase or subscribe for securities or financial instruments or any advice or recommendation with respect to such securities or other financial instruments.

Rounding. Due to rounding, numbers presented throughout this Presentation may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.

Miscellanea. This Presentation has been prepared on a voluntary basis. DiaSorin is therefore not bound to prepare similar presentations in the future, unless where provided by law. Neither the Company nor any member of the Group nor any of its or their respective representatives, directors, employees or agents accept any liability whatsoever in connection with this Presentation or any of its contents or in relation to any loss arising from its use or from any reliance placed upon it.

Piergiorgio Pedron, the manager responsible for the preparation of the company accounting documents for DiaSorin S.p.A., declares that, pursuant to Article 154-bis, paragraph 2, of the Legislative Decree February 24, 1998, no. 58, to the best of his knowledge, the accounting information included in this Presentation correspond to document results, books and accounting records.

FORWARD-LOOKING STATEMENTS

This document contains forward-looking statements that are based on current expectations, estimates, forecasts and projections about the industries in which DiaSorin operates and the beliefs and assumptions of the management of DiaSorin. In addition, the management of DiaSorin may make forward-looking statements orally to analysts, investors, representatives of the media and others. In particular, among other statements, certain statements regarding future financial performance, the achievement of certain targeted metrics at any future date or for any future period, trends in results of operations, margins, costs, return on capital, risk management and competition are forward-looking in nature. These statements may include terms such as "may", "will", "expect", "could", "should", "intend", "estimate", "anticipate", "believe", "remain", "on track", "design", "target", "objective", "goal", "forecast", "projection", "outlook", "prospects", "plan", or similar terms. Forward-looking statements are not guarantees of future performance and are, by their nature, subject to inherent risks, uncertainties and assumptions that are difficult to predict because they relate to events and depend on circumstances that may or may not occur or exist in the future and, as such, undue reliance should not be placed on them.

Forward-looking statements do not take into account any additional effects that may arise from impacts on the global market in which DiaSorin operates and, more generally, on the macroeconomic scenario, also following any eventual governmental measures related to the spread of COVID-19 and any potential delay in the vaccination campaign.

Actual results may differ materially from those expressed in forward-looking statements as a result of a variety of factors, including: the impact of the COVID-19 pandemic, the ability of the Group to create and launch new products successfully; changes in the global financial markets, general economic environment and changes in demand for diagnostic/ healthcare/life sciences products, which is subject to cyclicality; changes in local economic and political conditions, changes in trade policy and the imposition of global and regional tariffs or tariffs targeted to the diagnostic/healthcare/life sciences industry, the enactment of tax reforms or other changes in tax laws and regulations; the Group's ability to offer innovative, attractive products; various types of claims, lawsuits, governmental investigations and other contingencies, including product liability and warranty claims, investigations and lawsuits; material operating expenditures in relation to compliance with health and safety regulations; the intense level of competition in the diagnostic/healthcare/life sciences industry, which may increase due to consolidation; the Group's ability to fund its defined benefit pension plans; the ability to access funding to execute the its business plans and improve its own businesses, financial condition and results of operations; the Group's ability to realize anticipated benefits from joint venture arrangements; disruptions arising from political, social and economic instability; commercial risk due the fact that the Group operates in a market characterized by the presence of large competitors; risk associated to the maintenance of relationship with customers and strategic partners; risks associated with relationships with employees and suppliers; increases in costs, disruptions of supply or shortages of raw materials; developments in labor and industrial relations and developments in applicable labor laws; exchange rate fluctuations, interest rate changes, credit risk and other market risks; political and civil unrest; earthquakes or other disasters.

FORWARD-LOOKING STATEMENTS

Any forward-looking statements contained in this document speak only as of the date of this document and DiaSorin disclaim any obligation to update or revise publicly forwardlooking statements. Further information concerning the Group and its business, including factors that could materially affect the Group's financial results, are included in DiaSorin's reports and filings with CONSOB and Borsa Italiana.

No update. The information and opinions in this document is provided to you as of the dates indicated and DiaSorin does not undertake to update the information contained in this document and/or any opinions expressed relating thereto after its presentation, even in the event that the information becomes materially inaccurate, except as otherwise required by applicable laws.

Non-IFRS and Other Performance Measures. This document contains certain items as part of the financial disclosure, which are not defined under IFRS. Accordingly, these items do not have standardized meanings and may not be directly comparable to similarly-titled items adopted by other entities. DiaSorin management has identified a number of "Alternative Performance Indicators" ("APIs"). These APIs (i) are derived from historical results of DiaSorin and are not intended to be indicative of future performance, (ii) are non-IFRS financial measures and, although derived from the financial statements, are unaudited and (iii) are not an alternative to financial measures prepared in accordance with IFRS. The APIs presented herein include EBIT1, EBITDA2, adjusted EBITDA3, Net Financial Position⁴ and Free Cash Flow5. These measures are not indicative of historical operating results, nor are they meant to be predictive of future results. These measures are used by the management to monitor the underlying performance of the business and operations. Similarly entitled non-IFRS financial measures reported by other companies may not be calculated in an identical manner, consequently the measures reported in this document may not be consistent with similar measures used by other companies. Therefore, investors should not place undue reliance on this data.

1 EBIT is defined as the "Operating Result" net of interests and taxes - 2 EBITDA is defined as the "Operating Result", gross of amortization and depreciation of intangible and tangible assets. EBITDA is a measure used by measure in IFRS and therefore shall not be considered an alternative measure for assessing the Group's operating result performance. - 3 Adjusted EBITDA is defined as Adjusted EBITDA, excluding extraordinary costs and expe defined as the algebraic sum (positive balance sheet assets and negative balance sheet liabilities) of cash and cash equivalents and other current financial assets, minus current financial liabilities and non-current finan deriving from operating activities net of interest received or paid, and net of investments and divestments of fixed assets.

SECTION 1

GROUP OVERVIEW

"WE WALK THE TALK"

SECTION₂

IMMUNODIAGNOSTICS

SECTION 3

FINANCIAL OUTLOOK

MOLECULAR DIAGNOSTICS

STRATEGIC SETTING

WHO WE ARE

DIASORIN IS A GROUP COMMITTED TO DEVELOPING PRODUCTS THAT REQUIRE COMPLEX TECHNOLOGIES AND HIGH-RISK RESEARCH. WITH THE ACQUISITION OF LUMINEX, WE ARE NOW A LEADER IN A WIDER SPECTRUM OF INNOVATIVE TECHNOLOGIES:

IN OTHER WORDS, WE NOW ARE

SPECIALIST³

THE NEW DIASORIN AFTER LUMINEX ACQUISITION

BROADER PRESENCE IN NORTH AMERICA, WITH A STRONGER MOLECULAR DIAGNOSTIC BUSINESS

GROUP OVERVIEW

PRO-FORMA REVENUES AND ESTIMATED EMPLOYEES NUMBER AT DECEMBER 31, 2021 *COVID-19 related tests' revenues are allocated by technology

MAIN BUSINESS ACHIEVEMENTS (1/2)

MAIN BUSINESS ACHIEVEMENTS (2/2)

DECENTRALIZATION VS. CONSOLIDATION TRENDS: A QUICK REMINDER

Need for better performance of routine laboratory services

OPPOSITE FORCES ARE (STILL) RESHAPING THE LABORATORY SPACE AND THE IVD INDUSTRY

DECENT

Need for higher efficiency in patient management

THE DECENTRALIZATION TREND ACCELERATED

Roadblocks to performing diagnostic tests for COVID-19 outside of healthcare facilities have been removed.

TESTS CAN BE PERFORMED EVERYWHERE, EVEN IN THE STREET, OR AT HOME.

The importance of Healthcare decentralization leads to additional funding for decentralized hospital locations.

2 examples:

"RECOVERY AND RESILIENCE FACILITY FOR ITALY"

• Funding proximity healthcare services (Mission 6)

€18.5 BN 2021-2026

• Reimbursement for rural healthcare providers

\$8.5 BN 2021

WHAT DID THE PANDEMIC MEAN FOR IVD COMPANIES: KEY TRENDS

INCREASED PURIIC AWARENESS

• Central role of diagnostic testing had an impact on patients' and governments' perceptions

DECENTRALIZATION OF SPECIALTIES

• . Need for COVID diagnostic tools has brought specialty testing to smaller-size labs
• Higher polarization:
• Importance of high-throughput platforms to manage high volumes of tests (Hub & Spoke model)
• PoC technologies that made near patient testing practical and affordable

TECHNOLOGIES/ PLATFORMS

• . Widespread use of PCR technology, including in smaller hospital labs
• Lateral flow technology showed its limitation

IMPACT OF THE PANDEMIC IN OUR KEY REGIONS

• Emergency Funding with 2 major goals:
• 1. to increase testing capacity in order to meet demand
• 1. to develop new technologies (e.g. RADx® initiative)

• FDA empowered to bring new assays to the market more efficiently (e.g. MeMed)

• A common strategy was found for vaccination but not for diagnostic testing

• Higher adoption of PCR testing technology

• Acknowledgement of the importance of using Multiplexing technology for differential diagnosis (e.g. Respiratory infections)

• · Accelerated path to independence also in the Healthcare Sector

• Strengthening of local players (importance of being "China-for-China" players) and increased price pressure (e.g. Reimbursement Cuts and Centralized Procurement)
• No COVID-19 diagnostic test developed by non-Chinese companies has been approved by CFDA

IMPACT ON THE HEALTHCARE SYSTEMS: THE COST OF COVID TESTING

THE COST OF COVID-19 TREATMENT INCLUDING TESTING

COVID-19 COSTS IN THE U.S. HEALTHCARE SYSTEM AND IMPACT ON PRIVATE HOSPITALS

1. SOURCE: S&P MARKET INTELLIGENCE PAPER "DEFAULT RISK FOR US HOSPITALS FALLS FROM 2020 PEAK DESPITE LINGERING CHALLENGES" BY MICHAEL O'CONNOR, MORGAN FREY AND CHRIS HUDGINS

HOW SHOULD DIAGNOSTIC COMPANIES ADDRESS THESE NEW CHALLENGES

DIAGNOSTIC PLAYERS WILL BE REQUIRED TO SHIFT AND ADAPT THEIR APPROACH IN ORDER TO ADDRESS THE CHALLENGES AND CHANGES THAT ARE EMERGING WITHIN THE HEALTHCARE SPACE

SECTION 2

KEY TECHNOLOGIES OVERVIEW

SPECIALIST³

IMMUNODIAGNOSTICS

DiaSorin

Luminex

MOLECULAR DIAGNOSTICS

Luminex

MOLECULAR DIAGNOSTICS

KEEP FOCUSING ON SPECIALTIES

LIAISON® MeMed BV

IMMUNODIAGNOSTICS

MOLECULAR DIAGNOSTICS

DiaSorin Investor Meeting (Dec 17th 2021) Dr Eran Eden, Co-founder & CEO, MeMed

MeMed, Proprietary and Confidential Information. This document and its content may not be reproduced, disclosed or passed on to third parties except with the explicit prior consent of MeMed | Confidential Headquarters: Haifa, Israel | Boston, USA Funding & grants >\$200M From leading investors, insurers, US DoD and EU Commission

Landmark FDA clearance

The leader in the emerging field of Advanced Host-Response Technologies

The body s immune system is built to communicate what s going on.

Our mission is to listen.

MeMed, Proprietary and Confidential Information. This document and its content may not be reproduced, disclosed or passed on to third parties except with the explicit prior consent of MeMed | Confidential

We started by tackling fever.

which leads to some of the biggest healthcare challenges of our time

Dilemma #1: Bacterial or viral infection?

30-50% antibiotic overuse rates1 ⁴ 20% antibiotic underuse rates5-7 1. Davey, P. et al. Emerg Infect Dis (2006); 2. Linder, J.et al. JAMA (2001); 3. Cadieux, G et al. CMAJ (2007); 4. Pulcini, C. et al. Eur J Clin Microbiol Infect Dis (2007); 5. Battleman D. S. et al. Arch Intern Med (2002); 6. Houck, P. et al. Arch Intern Med (2004); 7. Craig et al. BMJ (2010) 8. Adeyi, O. O, Final Report Drug-Resistant Infections: A Threat to Our Economic Future, The World Bank, 2017

\$1 Trillion GDP Loss by 2030 due to resistant bacteria8

MeMed, Proprietary and Confidential Information. This document and its content may not be reproduced, disclosed or passed on to third parties except with the explicit prior consent of MeMed | Confidential

Conventional tests are important but insufficient to effectively aid patient management

The vision

Decoding fever and more

The paradigm: decoding the body s immune response

MeMed BV® uses machine learning to computationally integrate three host proteins (TRAIL, IP-10, CRP) in minutes

BV® high performance independently confirmed in unprecedented blinded validation and real-world evidence of >20,000 patients

10 al. Opportunity: Lancet Infect. Dis. (2016). 4. The Rosetta study (in preparation) Data on

Landmark FDA Clearance of 1st Technology to Aid in Distinguishing between Bacterial and Viral Infections Using the Body s Immune Response

Indications

Differential diagnosis Bacterial VS Viral infection

(>3 months) & adults

Children Suspected acute infections (LRTI, FWS, URTI, systemic infections etc.)

EDs, Urgent Cares, and samples collected at hospital admission

Can complement direct viral detection tests by identifying bacterial-viral co-infection

MeMed, Proprietary and Confidential Information. This document and its content may not be reproduced, disclosed or passed on to third parties except with the explicit prior consent of MeMed | Confidential Limitations include immunocompromised patients

MeMed BV® on Liaison® receives CE-Mark (Nov 2021)

Targeting >\$11B market opportunity

Data Forecast; Becker s Hospital Review; UCA 2018 Benchmark Survey; internal analysis

Impacting patient outcome and health economics

1 Source: Schneider et al. Cost Impact Analysis of Novel Host-Response Diagnostic for Patients with Community-Acquired Pneumonia in the Emergency Department, 2021. JME

The immune system is built to communicate what s going on.

Our mission is to listen.

DiaSorin

IMMUNODIAGNOSTICS

MOLECULAR DIAGNOSTICS

LIAISON® QUANTIFERON® FRANCHISE

LATENT TUBERCULOSIS UPDATE

PROGRAM IN PROGRESS

□ □
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□ ٦	٦ г т
□ □

150 existing customers over an estimated Total Addressable Market of 500+ accounts

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Hospitals strategy through LIAISON® XS

IMMUNODIAGNOSTICS

PROGRAM ALMOST COMPLETED

480 existing customers

LICENSED TECHNOLOGIES

SUCCESS OF THE PROGRAM

LIAISON® LYMEDETECT®

QIAGEN QUANTIFERON TECHNOLOGY AND DIASORIN SEROLOGY TESTING COMBINED TO PROVIDE INCREASED SENSITIVITY IN ACUTE INFECTION DRIVING ANTIBIOTIC THERAPY DECISION

LIAISON® LYMEDETECT® PROGRAM STATUS

LIAISON® IQ

IMMUNODIAGNOSTICS

MOLECULAR DIAGNOSTICS

PHARMACY MARKETS IN USA AND ITALY ARE SIGNIFICANTLY DIFFERENT...

	Pharmacy chains dominate the market (5 biggest chains cover one third of the total stores 1 )	Mostly independent pharmacies (pharmacy chains are developing)
FI E I E	Regulatory framework is established CLIA-waived pharmacies can run IVD (both Molecular and Immuno)	Regulatory framework in evolution. COVID pandemic accelerated the process Capillary blood tests (fingerprick) are allowed starting from 20212 Swab tests (beyond COVID-19) not allowed yet
	Reimbursement for tests allowed in pharmacies operating under a valid CPA 3	No reimbursement (out of pocket)
	Under a CPA, pharmacists can deliver care functions such as initiating, modifying, or discontinuing drug therapy and ordering and interpreting laboratory tests	Pharmacists can't interpret laboratory tests and can't dispense therapies to patients

MOLECULAR DIAGNOSTICS

LICENSED TECHNOLOGIES

1. CVS, WALGREENS, WALMART PHARMACY, RITE AID, KROGER PHARMACY - U.S. NATIONAL PHARMACY MARKET SUMMARY DONE BY IQVIA IN 2019

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1. LEGGE 30 DICEMBRE 2020, N. 178 - RIPUBBLICAZIONE TESTO 18 GENNAIO 2021 - BILANCIO DI PREVISIONE DELLO STATO PER L' ANNO FINANZIARIO 2021 E BILANCIO PLURIENNALE PER IL TRIENNIO 2021 - 2023. DECRETI DA EMANARE AGGIORNATO 3. CPA - COLLABORATION PRACTICE AGREEMENT

IMMUNODIAGNOSTICS

SO IS THE ROLE OF PHARMACISTS IN DIAGNOSTICS DELIVERY

MARKET

$\sim$ 20,000 pharmacies 1/3 in rural setting, where pharmacists

have a key role in the community

Growing number of pharmacies (contrary to the rest of Europe)

OPPORTUNITY

Pharmacists can leverage diagnostics to:

• Effectively prescribe OTC supplements to support the monitoring of some chronic conditions.
• Provide first screening on potential diseases to be further investigated by a Medical Doctor

MENU EXPANSION STRATEGY unfolds along two lines:

Support OTC supplements / monitoring of chronic conditions Ferritin, Vitamin D, Folate, Vitamin b12, C-reactive protein, ...

Provide first screening layer to address patient doubts on potential pathologies to be further investigated by the MD

Celiac disease, Allergy, D-dimer, ...

IMMUNODIAGNOSTICS

MOLECULAR DIAGNOSTICS

LIAISON® XS PROGRAM RELOADED

LIAISON® XS PROGRAM RELOADED: HOSPITALS STRATEGY IN THE U.S.

LIAISON® XXL

LIAISON® XXL

APPROACH TO CONSOLIDATION AND DECENTRALIZATION TREND

LIAISON®	LIAISON X	LIAISON® LIAISON® LAS	LIAISON®XXX
			WHEN
POINT OF CARE	LOW-MEDIUM THROUGHPUT	MEDIUM-HIGH THROUGHPUT	VERY HIGH THROUGHPUT
Expansion in Point-Of-Care	Migration from LIAISON® & Hospital Strategy	Strengthening of existing installed base + acquisition of new customers	Large Labs requiring more efficient footprint and higher throughput platforms
DECENTRALIZED SETTING	SMALL-TO-MID VOLUMES	MID-TO-LARGE VOLUMES	MEGA VOLUMES
	IMMUNODIAGNOSTICS	MOLECULAR DIAGNOSTICS LICENSED TECHNOLOGIES

MOLECULAR DIAGNOSTICS

TESTING NEEDS SERVED BY DIFFERENT MOLECULAR DIAGNOSTIC TECHNOLOGIES

NEED	SOLUTION	NEED	SOLUTION
Identify pathogen confirming existing clinical suspicion	Single target determination through single/low plex technology	Identify pathogen in absence of clear clinical suspicion	Multiple-target determination through multiplex technology
Example: one run to differentiate SEED 1999 Sugs Example: one run to screen for respiratory pathogens between COVID-19 and Flu A & B
	Up to 4 different pathogens		Up to 40 different pathogens

IMMUNODIAGNOSTICS

MOLECULAR DIAGNOSTICS

MARKET TRENDS

Mature market (low-single digits growth ex-COVID) with a wide spectrum of platforms (from single to high-throughput) . . . . . . . . . . . . . . . . . . . . Clear distinction between high-throughput application (e.g. HIV, HCV, etc.) and specialty testing SINGLE/LOW PLEX Pandemic pushing decentralized testing needs . . . . . . . . . . . . . . . . . . . . Pandemic increasing adoption among smaller hospitals, mostly in Europe

MOLECULAR DIAGNOSTICS OFFER

* 2021 pro-forma revenues include 12 months of Luminex business contribution

LIAISON® MDX PLUS

IMMUNODIAGNOSTICS

MOLECULAR DIAGNOSTICS

LAUNCH OF LIAISON® MDX PLUS

IMMUNODIAGNOSTICS

MOLECULAR DIAGNOSTICS

LIAISON® NES

IMMUNODIAGNOSTICS

MOLECULAR DIAGNOSTICS

LIAISON® NES

POINT OF CARE BENEFITS

IMMUNODIAGNOSTICS

MOLECULAR DIAGNOSTICS

IMMUNODIAGNOSTICS

MOLECULAR DIAGNOSTICS

MOLECULAR DIAGNOSTICS OFFER

* 2021 pro-forma revenues include 12 months of Luminex business contribution

LIAISON® PLEX

LAUNCH OF LIAISON® PLEX

IMMUNODIAGNOSTICS

MOLECULAR DIAGNOSTICS

FLEX THE PLEX

IMMUNODIAGNOSTICS MOLECULAR DIAGNOSTICS

APPROACH TO CONSOLIDATION AND DECENTRALIZATION TREND

LICENSED TECHNOLOGIES OVERVIEW

LICENSED TECHNOLOGIES: DEEP DIVE ON XMAP® TECHNOLOGY MARKET

25+ YEARS OF EXPERIENCE IN MULTIPLEXING WITH THE LUMINEX XMAP® VERSATILE MICROSPHERES

IMMUNODIAGNOSTICS

MOLECULAR DIAGNOSTICS

XMAP® TECHNOLOGY: PARTNERSHIP OPPORTUNITIES

EXISTING LONG-TERM PARTNERSHIPS...

.80+ Partners investing in the technology

.Long-term contractual partnerships

. Opportunities in large markets

... AND ADDITIONAL OPPORTUNITIES

. New Business Development

XMAP® TECHNOLOGY: INNOVATION AT THE EDGE FOR PARTNERS THROUGH THOUSANDS OF KITS AND CUSTOM ASSAYS

IMMUNODIAGNOSTICS

MOLECULAR DIAGNOSTICS

LICENSED TECHNOLOGIES: THE XMAP INTELLIFLEX^® PLATFORM

RELIABLE, SENSITIVE RESULTS

CUSTOMIZATION AND FLEXIBILITY

MAXIMUM DATA/ANSWERS 500 ANALYTES PER WELL: UP TO 2 PARAMETERS PER ANALYTE

NO OTHER MULTIPLEX PLATFORM COMBINES LOW- AND HIGH-PLEX CAPABILITIES, QUICK TIME TO RELIABLE RESULTS, AND THE ABILITY TO ACQUIRE DATA FOR TWO PARAMETERS PER ANALYTE SIMULTANEOUSLY

IMMUNODIAGNOSTICS

MOLECULAR DIAGNOSTICS

LICENSED TECHNOLOGIES: DEEP DIVE ON FLOW CYTOMETRY

>10,000 INSTRUMENT PLACEMENTS. THOUSANDS OF PUBLICATIONS ON THE TECHNOLOGY

Unique IMAGE-BASED FLOW CYTOMETRY on the market platform BROADEST SPECTRUM OF FLOW CYTOMETRY SOLUTIONS $\checkmark$ Intuitive $\sqrt{\phantom{a}}$ Innovative ImageStreamx® Mk II Amnis FlowSight® Amnis^® CellStream^® $\sqrt{}$ Flexible MICROCAPILLARY FLOW CYTOMETRY Guava® Muse® Guava® easyCyteTM/ easyCyteTM HT IMMUNODIAGNOSTICS MOLECULAR DIAGNOSTICS LICENSED TECHNOLOGIES

KEY NEXT OPPORTUNITIES

IMAGING FLOW CYTOMETRY

• . Launch of the new "ImageStream Next"
• . "Truth sets" of normal cell images to facilitate detection of abnormalities via existing AI & Machine Learning technology
• New acquisition or partnership opportunities to foster recurring revenue stream
• Licensing of technology or instrumentation to third parties outside current fields and customer base

MICROCAPILLARY FLOW CYTOMETRY

• Licensing or Partnership with third parties outside current fields and customer base
• · Launch of bacterial cell count & viability products to open new markets and foster instrument placement opportunities

SECTION 3

2022 OUTLOOK & 2025 GUIDANCE @CER*: TOTAL SALES

FINANCIAL OUTLOOK

*IN ORDER TO ALLOW COMPARABILITY ACROSS YEARS, ALL FINANCIAL DATA HAS BEEN RESTATED AT CONSTANT EXCHANGE RATE (WITH REGARDS TO THE US DOLLAR 1.16 USD PER EUR)

1 COVID BUSINESS DOES NOT INCLUDE REVENUES FROM MULTIPLEXING RESPIRATORY PANELS THAT ALSO DETECT SARS-COV-2

2022 OUTLOOK & 2025 GUIDANCE @CER*: SALES BY TECHNOLOGY

FINANCIAL OUTLOOK

*In order to allow comparability across years, all financial data has been restated at constant exchange rate (with regards to the US Dollar 1.16 USD per EUR) 1 COVID business does not include revenues from multiplexing respiratory panels that also detect SARS-CoV-2

2022 OUTLOOK & 2025 GUIDANCE @CER*: SALES BY GEOGRAPHY

FINANCIAL OUTLOOK

*In order to allow comparability across years, all financial data has been restated at constant exchange rate (with regards to the US Dollar 1.16 USD per EUR) 1. COVID business does not include revenues from multiplexing respiratory panels that also detect SARS-CoV-2.

REVENUES COMPARISON: 2019 ACTUAL - 2025 GUIDANCE @CER*

*In order to allow comparability across years, all financial data has been restated at constant exchange rate (with regards to the US Dollar 1.16 USD per EUR) 1 COVID business does not include revenues from multiplexing respiratory panels that also detect SARS-CoV-2

GROUP SYNERGIES AFTER LUMINEX ACQUISITION @CER*

2022 OUTLOOK & 2025 GUIDANCE @CER* ADJUSTED EBITDA** MARGIN

FINANCIAL OUTLOOK

2022

*In order to allow comparability across years, all financial data has been restated at constant exchange rate (with regards to the US Dollar 1.16 USD per EUR) ** Without non-recurring Luminex acquisition and integration costs

2021

Indicative graphic only, not to scale

2025

NET DEBT/ADJUSTED EBITDA* @CER**

FINANCIAL OUTLOOK

* Without non-recurring Luminex acquisition and integration costs

** In order to allow comparability across years, all financial data has been restated at constant exchange rate (with regards to the US Dollar 1.16 USD per EUR)

2022 OUTLOOK & 2025 GUIDANCE @CER*

	2021e	2022e	2025e	Notes
Revenues	$~\sim$ € 1,230 mln	$\sim \epsilon$ 1,210 mln	$~\sim$ € 1,500 mln	22-25 CAGR $\sim$ +7% with Covid $\sim$ +10% ex Covid
Adjusted EBITDA** margin	$~143\%$	$~125\%$	$~238\%$	22-25 Adj. EBITDA** CAGR $- +10\%$
Free Cash Flow	$\sim \epsilon$ 300 mln	Cumulative 22-25: ~€ 1,100 mln		Cumulative 22-25 Capex: $\sim \in 450$ mln
Net Debt / Adjusted EBITDA**	~1.9x	$\sim$ 2.1 $\times$	$\sim 0.5x$

FINANCIAL OUTLOOK

*In order to allow comparability across years, all financial data has been restated at constant exchange rate (with regards to the US Dollar 1.16 USD per EUR) ** Without non-recurring Luminex acquisition and integration costs