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Evotec SE Investor Presentation 2010

May 11, 2010

151_ip_2010-05-11_38c6f5f4-2e1e-4db0-83dc-32cb353e2182.pdf

Investor Presentation

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Q1 – Ready for Growth

Creating integrated drug discovery innovation alliances

Evotec AG, Q1 Update Presentation, 12 May 2010

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 2010 financial outlook and our expected financial results in future quarters, our ability to deliver on our liquidity guidance, our belief that we are on course to profitability in 2012, our expectations and assumptions concerning regulatory, clinical and business strategies, the progress of our clinical development programmes and timing of the commencement and 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 product candidates may fail in the clinic or may not be successfully marketed or manufactured; the risk that we will not achieve the anticipated benefits of our collaborations, partnerships and p p p that could impact our businesse acquisition s in the timeframes expected, or at all; risks relatin g 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 AnnualReport 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 s and financial performance. We p p expressly disclaim any obligation or undertakin g 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

  • •Q1 Highlights
  • •Strategic Background
  • •Financials & Outlook

Discovery alliances growing significantly

Q1 highlights

Significant improvement of all key performance indicators

Q1 highlights

PAGE 4

Increased quality of revenues/ improved portfolio of long-term alliances

Q1 highlights

New drug discovery alliances Development alliances

  • • Extended alliance with CHDI to fight Huntington's disease
  • N lti t t i lli ith•New multi-year strategic alliance withGenentech 1)

  • • New or extended collaborations with Vifor, Cubist Pharmaceutical, Active Biotech,…

  • • Good progress with EVT 100 compound family with Roche

  • Phase II study with EVT 101 to start in Q2 2010
  • • Increased external funding; own R&D i ifi tl d dsignificantly re duce
  • • New BMBF grant for H3 receptor antagonist programme

Agenda

  • •Q1 Highlights
  • •Strategic Background
  • •Financials & Outlook

Capturing the opportunities of the drug discovery industry

Key reasons for growth

1) Major players: Wuxi Pharma (recently acquired by Charles River), Biofocus, AMRI, PPD, Evotec, … ca. 100 fragmented smaller players

Partner of choice for high-quality integrated alliances

Integration of drug discovery technologies & disease know-how

New prime quality alliance

Example 1: Integrated strategic alliance with Genentech

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Example 2: Strategic product development alliance with Roche

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1) EVT 101 /103 are high affinity, selective antagonists of N-methyl-D-aspartate (NMDA) receptor subtypes containing the NR2B subunit; they bind preferentially to the activated form of the receptor (activity-dependent); they modulate channel activity by inhibiting channel opening probability

Fight against Huntington's disease

Example 3: Strategic alliance with CHDI

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Optimal business solution for high potential targets

Example 4: Public research funding by BMBF for H3 receptor antagonists

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  • • Target of high interest to improve cognition, alertness and attention, e.g. excessive fatigue associated with multiple sclerosis
  • U i E t ' CNS•sing Evotec's expertise & its worldleading discovery platform
  • H3 receptor antagonists • identified and optimised by Evotec through to preclinical development

Conditions

• Support of Neu² consortium within BioPharma initiative

  • • Research funding to advance the programme through Phase I clinical studies
  • •Up to € 1.5m funding

Additional funding will decrease Evotec's R&D expenses and risk profile

Strong portfolio significantly reduces risk profile and generates upside potential

Portfolio of alliances

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Agenda

  • •Q1 Highlights
  • •Strategic Background
  • •Financials & Outlook

Accelerated path to profitability and growth

Guidance 2010 ff

in €m

  • 2) Excluding potential US\$ 65m milestone income from Roche buy-back of the EVT 100 compound family

  • 3) Including Renovis acquisition

  • 5) Including impairment and restructuring expenses of € 27.7m 6) Including impairment and restructuring expenses of € 22.7m

  • 7) Net income before extraordinary effects

Even without milestones –sustainability of business shows visibility

Key financials Q1 2010: Condensed Consolidated Income Statement (IFRS)

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  • • Almost exclusively from transactions involving investments in money market funds
  • R l di hd•Resulted in a net cas hdecrease and respective increase in investments of € 5.1m

Strong liquidity position

Key financials Q1 2010: Condensed Consolidated Balance Sheets (IFRS)

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Strong news flow to come

Overview of expected key events

Key milestones

Leader in a growth industry

Investment rational for Evotec

  • •Sustainable > 15% growth business with strong gross margin
  • • Unique customer position and expansion of revenues (e.g. Boehringer Ingelheim, Novartis, Biogen Idec, Genentech, Ono Pharmaceutical...)
  • • EVT 100 Roche alliance – near-term blockbuster product and \$ 65m milestone opportunity (2011)
  • • Wealth of preclinical/clinical assets (4 – 6) available for partnering or own development represent upside options
  • •Solid liquidity provides strategic flexibility
  • •Strong news flow 2010 ff

Your contact:

Dr Werner LanthalerChief Executive Officer

+49.(0).40.560 81-242 +49.(0).40.560 81-333 Fax werner lanthaler@evotec [email protected]

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