Evotec SE — Investor Presentation 2009

May 12, 2009

Evotec Q1 Summary 2009

May 12, 2009

Forward-looking statements

Information set forth in this presentation contains forward-looking statements, which involve a number of risks and uncertainties. Such forward-looking statements include, but are not limited to, statements about our expectations and assumptions concerning regulatory, clinical and business strategies, the progress of our clinical development programs and timing of the results of our clinical trials, strategic collaborations and management's plans, objectives and strategies. These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. In particular, the risks and uncertainties include, among other things: risks that the Company may be unable to reduce its cash burn through recent restructuring and cost containment measures; risks that product candidates may fail in the clinic or may not be successfully marketed or manufactured; risks relating to our ability to advance the development of product candidates currently in the pipeline or in clinical trials; our inability to further identify, develop and achieve commercial success for new products and technologies; the risk that competing products may be more successful; our inability to interest potential partners in our technologies and products; our inability to achieve commercial success for our products and technologies; our inability to protect our intellectual property and the cost of enforcing or defending our intellectual property rights; our failure to comply with regulations relating to our products and product candidates, including FDA requirements; the risk that the FDA may interpret the results of our studies differently than we have; the risk that clinical trials may not result in marketable products; the risk that we may be unable to successfully secure regulatory approval of and market our drug candidates; and risks of new, changing and competitive technologies and regulations in the U.S. and internationally.

The list of risks above is not exhaustive. Our most recent Annual Report on Form 20-F, filed with the Securities and Exchange Commission, and other documents filed with, or furnished to the Securities and Exchange Commission, contain additional factors that could impact our businesses and financial performance. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based.

Agenda

• zHighlights, Lowlights & Operational Update
• zFinancial Summary
• zOutlook & Upcoming News Flow

Highlights & Lowlights

Overview of Events

• z Strong Operational Performance in Discovery Alliance Business (DAB)
• z Fast Implementation and Immediate Effects of Restructuring Action Plan "Evotec 2012 – Focus & Grow"
• z Re-Engineering of Discovery and Development (Closure of SSF Site)
• z New Alliance with Roche Representing a more than \$ 300m Opportunity
• z Acquisition of Zebrafish Technology

• zSolid Liquidity Position

• z Failure of EVT 302 in Smoking Cessation and Failure to Deliver on EVT 201 Partnership

• z Delay in Pfizer Alliance on VR1 Triggers Impairment

Despite series of bad news the Company has a strong fundamental business case for its DAB and its development programs

Goal

Evotec 2012 – Action Plan to Focus and Grow implemented

Building Blocks for "Restarting Evotec"

*

2010 ff

1	G r o w D i s c o v e r y A l l i a n c e s ( ) B i D A B s n e s s u	I f h l d i t t m p r o v e m e n p r o g r a m o r e c n o o g y a n s e r v c e z l l l d h i e v e e a e r s p A i i i f b f i h h l f i f h t t t t t t c q u s o n o z e r a s e c n o o g y r s s e p o u r e r z d l D A B d b i l d l d- l l d h i l e v e o p a n u o n w o r c a s s e a e r s p r o e	S h U S P f t t r e n g e n o f E t 's l t o e c p a o r m v A d d d s r e v e n u e s a n f i b i l i t t p r o a y
2	R f e o c u s i l i p p e n e o n t l b l m o s a a e v u t a s s e s	I f d t t t n v e s m e n o c u s e o n c o r e a s s e s z I i l l i i d t t t n v e s m e n n e a r y p r o g r a m s m e z f F d i l d l t t t t t o c s o n o n e p r o c o r p o e n a e e o p m e n p o u u v u z k t m a r e	F d d R & D o c u s a n r e u c e s t E U R 3 0 < e p e n s e s o m x ( 2 0 0 8 E U R 4 3 ) m :
3	B i l d i u n g i t t m o r e s r a e g c l l i a a n c e s	R h l l i ( E V T ) i d R & D f d i 1 0 0 o c e a a n c e p r o v e s u n n g, z d i k h f l i t t e- r s s e p o r o o S i i l i t t t t r a e g c p a r n e r n g p r o c e s s o n e a r e r a s s e s z	f P i d t r o v e s u p r o n s, R d l i i l d e c e s c n c a s p e n u , K d i d t e e p s p r o u c u p s e
4	S t i t t r c c o s i t t c o n a n m e n d d i t a n r a s c t t c o s c s u	R h d E i t t t e s e a r c c o n c e n r a e o n u r o p e a n o p e r a o n s z S U i d d t o p e r a o n s o n o n w u w z C h i d l l i i t t t a n g e s n o p m a n a g e m e n a n o e r a o r g a n a o n v z z	S G & A 2 0 % - R & D 4 0 % * -

Page 5

Build on unique strengths of Discovery Alliance Business

Grow Discovery Alliance Business 1

As of April already in order book/outlook for the year

Best-in-class services along the value chain

1Discovery Alliance Business Value Chain

S i H i c r e e n n g	L d e a l d t- t o e a - O t i i t i p m a o n z	C P l i i l l i i l r e c n c a n c a D l t D l t e e o p m e n e e o p m e n v v
A d l t s s a y e v e o p m e n z ( ) H T S u z H i h i t t g c o n e n s c r e e n n g z E l h i l t e c r o p s o o g y y z V i l i h l i t t r a s c r e e n n g e c n o o g e s u z F b d d t- r a g m e n a s e r u g z d i s c o e r v y L i b d i d h i t r a r y e s g n a n s y n e s s z	H i i t e x p a n s o n z F d l i b h i t o c u s e r a r y s y n e s s z E l A D M E T a r y z P i l i d l l h t t r o e n- g a n c r s a o g r a p y y z M d i i l h i t e c n a c e m s r y z B i l t o o g y s u p p o r z T i l d f t o x c o o g y a n s a e y z h l i p a r m a c o o g s c r e e n n g y	f T i l d t o x c o o g y a n s a e y z h l i p a r m a c o o g s c r e e n n g y M d i i l h i t e c n a c e m s r y z S b d d d i t t r u c u r e- a s e r u g e s g n z A D M E T / P K z C i l h i d t t t o m p a o n a c e m s r a n u y z i i i t t o p m z a o n S l b i l t t r c r a o o g u u y z / B i l d i t o o g s p p o r s e c o n a r s c r e e n n g y u y z

z Disease biology and target class expertise

Clinical failure leads to reduced, but high value early pipeline

Focus Pipeline Programs 2

P r o g r a m		I d i i t n c a o n	M k t a r e i t t o p p o r u n y	N t l e a e x v u i t p o n	P t t i l o e n a f i l i n g
1	S * E V T 1 0 0	C S T R D N ;	€ 3 b n >	P I I t 2 t s a r 0 0 9	2 0 1 3
2	P 2 X 7	R h i d t e u m a o h i i ** t t a r r s	€ 3 b n >	P I d t a a ( ) i d 2 0 0 9 m	2 0 1 4
3	H 3	N l a r c o e p s y	€ 1 b n >	P I t t s a r ( ) 2 0 1 0	2 0 1 5
4	P 2 X 3	P i a n	€ b 3 n >	P I t t s a r ( ) 2 0 1 0	2 0 1 5
5	/ E V T 2 0 1 E V T 3 0 2	/ I i n s o m n a S k i m o n g i * t c e s s a o n	€ 0 0 5 m >	N t o n e a r- e r m i t t p a r n e r n g o b d t e e x p e c e	l i k l n e u y

Less is more –Only core value programs will be fully supported by Evotec

*Partnered with Roche

**Potential other indications to be opened – depending on clinical data; potential target also for other inflammatory diseases

***No further investments, BD efforts ongoing

High value alliance with ROCHE against depression

Build Alliances3

TREATMENT-RESISTANT DEPRESSION

More than 120 million depressed patients; persistent sadness, pessimism; 1/3 of patients treated don't respond to first antidepressant.

USP's of Alliance

• z Joint Phase II development of EVT 101 in treatment-resistant depression
• z Next generation compound EVT 103 entering Phase I studies
• z Roche has buy-back option for entire EVT 100 family post Phase II
• z If Roche doesn't exercise the buyback, Evotec will get rights to all indications under revised terms

Key Commercials

• zPotential deal value exceeding \$300m
• z Roche has committed to fund clinical development of EVT 101 and EVT 103
• z \$10m received; \$65m due with option exercise + up to \$220m in development and sales milestones + scalable double-digit commercial payments

Leveraging European infrastructure for higher efficiency

Process Improvement 4

One process providing world class drug discovery and clinical development for partnerships and proprietary development

• z Continuing strength of Discovery Alliance Business allows to more efficiently leverage Evotec's infrastructure
• z Concentrate operations in Europe and wind down US operations
• z Integrate all assets in this one process structure to reduce fixed costs and improve efficiency for R&D and Services
• zMake more early assets available for partnering

Guidance can be comfortably confirmed for 2009

Drastic Cost Cuts4

87992 386Solid liquidity position secured beyond 2012 Headcount reduction were necessary Liquidity end 2009Liquidity Q1Roche upfront** ~84Liquidity today** 2009Above 65

R&D expenses focused on key programs

358Below 3502006 2007 End 2009 418*2008

*Renovis acquisition; **after Q1

Evotec 2012 – Key performance indicators

Controlling is Key *

			N e r	t e r a u	l W	o r s e
	K t e y p a r a m e e r s	2 +	1 +	0	1 -	2 -
D f d d e e n a n d d i e x p a n s c o v e r y l l i a a n c e s	O l l i t t v e r a c o s m p a c z S f d b k t t a s o o r e r o o u z E i f h l f f i t t x e n s o n o e c n o o g y o e r n g z f Q E i h d t t x e n s o n o c u s o m e r r e a c a n z
F h i h o c u s o n g l d l a e e e o p v u v t m e n p r o g r a m s	V l f d t a e o s p p o r e o n p r o g r a m s u u w z S f l i i l t t a u s o c n c a p r o g r e s s z V l f d t a e o p a r n e r e p r o g r a m s u z N b f I N D 's u m e r o z
B l i k f a a n c e r s o r t i b l s s a n a e u t h g r o w	C i d h t t o s s n u n p a r n e r e r e s e a r c z M i l i t e s o n e n c o m e z P i l l l i t t o e n a a a n c e s z O l l h h v e r a c a s r e a c z

*Evaluated versus implementation of "Evotec 2012"

Agenda

• zHighlights, Lowlights & Operational Update
• zFinancial Summary
• zOutlook & Upcoming News Flow

Strong operational performance -

increased operating loss only due to "non cash" impairment

Condensed Profit & Loss Statement (IFRS) in €m

	Q 1 2 0 0 8	Q 1 2 0 0 9	i % ∆ n
R e v e n u e s	7 3	8 2	1 3 % +
G i r o s s m a r g n	2 9. 4 %	3 6 2 %	-
R & D e x p e n s e s z	1 2 8	1 0 3	1 9 % -
S G & A e p e n s e s x z	3 3	4 8	4 3 % +
A i i & i i t t t m o r z a o n m p a r m e n z	0 3	6 7	-
R i t t e s r u c u r n g e x p e n s e s z	0 1	1. 4	-
O h i i ( ), t t t e r o p e r a n g n c o m e e x p e n s e s n e z	0 0 4	0 0 4	-
O ( ) i i l t p e r a n g n c o m e o s s	1 4 4 -	2 0 2 -	4 1 % -
N i ( l ) t e n c o m e o s s	1 3. 8 -	2 1. 8 -	5 8 % -

Strong liquidity position

Financial Overview

Agenda

• zHighlights, Lowlights & Operational Update
• zFinancial Summary
• zOutlook & Upcoming News Flow

Action Plan 2012 allows for sustainability

Cash Consumption after Restructuring

• z Solid growth of Discovery Alliance Business (EUR > 60m revenues in 2011)
• z No significant cash generation from clinical assets before 2012
• z R&D costs reduced by 40%p.a
• z Enough funding available for external strategic options

Why this might be the end of the valley?

Outlook & Next Steps

• z Solid liquidity of approx. € 80 million provides solid downside protection
• Restructuring measures implemented to increase cash reach comfortably beyond 2012
• z Planned expansion of Discovery Alliance Business to EUR > 60 million in 2011
• z EVT 100 deal – potential \$65 million milestone opportunity
• z Strength of remaining clinical assets
• z Wealth of preclinical assets available for partnering

		M i l t e s o n e	W h e n
1	D i s c o v e r y l l i a a n c e s	N l l i i h h i h l t e w a a n c e s w g v a u e z ( i l b d ) t t t c o n r a c s m o r e m e s o n e a s e G h i d i t t t r o w n r e v e n u e s a n s r a e g c z h l i t e c n o o g y e x p a n s o n	H 2 2 0 0 9 9 f f 2 0 0 9
2	S t t i r a e g c l l i a a n c e s	N i h i t t t e w s r a e g c p a r n e r s p s z ( ) N D l A l l i R h t e e e o p m e n a n c e s o c e w v z	H 2 2 0 0 9 9 H 1 2 0 0 9
3	C l i i l n c a i l m e t s o n e s	E V T P O C i k i i 3 0 2 t n s m o n g c e s s a o n z O C / E V T 1 0 1 P i d i R h n e p r e s s o n o c e z b b k u y a c - P h I d P 2 X 7 t a s e a a z P h I d P 2 X 3 t a s e a a z A l P h I 1 t t e a s n e w a s e p r o g r a m z	9 Q 2 2 0 0 9 / E d 2 0 1 0 2 0 1 1 n M i d 2 0 0 9 M i d 2 0 1 0 H 1 2 0 1 0

Evotec Q1 Summary 2009