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Evotec SE Investor Presentation 2014

May 14, 2014

151_ip_2014-05-14_972929a0-a6b5-47c4-884d-398cb40b26a1.pdf

Investor Presentation

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Q 04 1 2 1 – Execute on I nnovate

Forward-looking s statements

Information set forth in this pres number of risks and uncertaintiesjudgement of Evotec as of the d neither promises nor guarantees, which are beyond our control, and contemplated in these forward forward-l undertaking to release publicly a change in our expectations or an such statement is based.sentation contains forward-looking statements, which involve a . The forward-looking statements contained herein represent the date of this presentation. Such forward-looking statements are , but are subject to a variety of risks and uncertainties, many of d which could cause actual results to differ materially from those looking statements statements. We expressly disclaim any obligation or any updates or revisions to any such statements to reflect any ny change in events, conditions or circumstances on which any

Welcome from thee Evotec management team

Q1 2014

Agenda

Highlights Q1 2014 Q1

Operational progress

Financial performance and outlook

Solid start into 201guidance confirme 14, operations on track, ed

State of play

Financials

1

2

  • Revenues for Q1 2014 of € 17 6 m (2013: € 17 1 m) an increas 17.6 17.1m), se of 3% at constant 2013 FX rates up 5% 3%,
  • Adjusted1) Group EBITDA at € (1.3) m; positive adjusted EBITDA A of € 2.3 m for EVT Execute
  • Strong liquidity position at € 90.3 m
  • High and stable equity ratio at 71.0%
  • Guidance 2014 confirmed

Operations

  • Pain alliance with Convergence
  • Oncology alliance with Debiopharm™ (TargetCanMet)2) gy p ( g )
  • First milestone in Roche biomarker collaboration

Product pipeline

  • Recruitment of Phaselliance completed (EVT302)
  • IIb trial within Roche Alzheimer disease al 3 trial Janssen to continue developing the EVT100 series in the field of f CNS/depression
  • DiaPep277® now developed & commercialised by Hyperion Ther rapeutics after acquisition of Andromeda Biotech
  • Janssen to phase out beta cell regeneration programme; CureBe etabetween Harvard and Evotec continues2)

Acquisition update

Acquisition of Bionamics GmbH to accelerate EVT Innovate stra tegy3)

4

Agenda

Highlights Q1 2014

Operational progress

Financial performance and outlook

Segments to furth er improve efficiency and clarity

ONE company – TWO seg gments

EVT Execute

"Low risk Low risk, service business"

EVT Exe ecute

  • Strict feee for service, highest quality offering
  • Platformm selling with low risk
  • Selecti vely milestone and royalty derived projects

EVT Innoovate (Cure X/Target X)

  • First-in-class investments within core competences
  • Early p partnering strategy
  • P f Performand pro mance-b d lli ith f t il t based alliances with upfronts, milestones oduct royalties

EVT Innovate"High risk – high reward innovation business"

Despite Pharma re estructuring good start into 2014

EVT Execute – Comprehe nsive drug discovery platforms

Good growth in innovative outsourcing business

  • New integrated projects (e.g. Convergence,…)
  • (e.g. Eternygen, …)
  • Milestone achieved in Roche biomarker collaboration
  • C ardioxyl moved into clinical testing with CXL-1427

First Biomarker milestone for proteomics platform

Biomarker alliance with RRoche

Evotec's Proteome Profiling platform in extended P Phase I oncology trial

  • First minor milestone under the success based collabbetween Evotec and Roche, signed in 2011 boration
  • Evotec and Roche conduct biomarker discovery and discovery for patient stratification in various targeted cancer the validation programmes erapies

About the Proteome profiling platform

  • Evotec s' Proteome profiling platform employs high high-en thousands of cellular proteins on a global scale nd mass spectrometry to identify and quantify identify
  • Proteome profiling allows truly unbiased systems-wid de investigation of protein expression in vivo
  • Comparative analysis of cellular proteomes not only analysis cellular studies but also enables the discovery of predictive b supports target identification and mode mode-of-action biomarkers on the functional protein level

Constant upgrade along core competences

Consolidation for integrat ed drug discovery platform

Growth driven by technology upgrad long-term alliances and de strategy

EVT Execute strategy 2014 4

  • New long-term alliance es with big and mid-sized Pharma and biotech
  • New integrated alliance US East Coast start-up es with EU biotech and especially ps

Expansion of technolog gy/disease portfolio offering

Growing portfolio certain product op and sig pg nificant progress with pportunities

Partnership portfolio

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12 1) In April 2014, Hyperion Therapeutics acquired Androm meda and rights on DiaPep277® – expected closing H1 2014

2) Janssen to phase out one beta cell regeneration programm me; CureBeta between Harvard and Evotec continues

New owners for Di iaPep277®

Product development allia ance with 1)

DiaPep277® – A first-in-class immune intervention t therapy yp for Type 1 diabetes

  • Type 1 diabetes results from the body's failure to pro and presently requires life long insulin therapy by inje duce insulin ection
  • Today py there is no therapy able to slow the destruction secreting pancreatic beta cells n of insulin
  • DiaPep277® is targeted to treat newly diagnosed pa with residual insulin secreting cells atients

About DiaPep277®

  • DiaPep277® is a unique peptide of 24 amino acids de erived from human heat shock protein HSP 60
  • The peptide acts by modulating the immune system, that secrete insulin in response to elevated blood glu thus preventing the destruction of pancreatic cells ucose levels

13 1) In April 2014, Hyperion Therapeutics acquired Androme biopharmaceutical company committed to developing an eda and rights on DiaPep277® – expected closing H1 2014. Hyperion Therapeutics, Inc. is a commercial stage nd delivering life-changing treatments for orphan diseases. For more information: www.hyperiontx.com

Bionamics expand ds portfolio in CNS

Neurology pipeline overvi ew

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EVT302 – Recruitinng of Phase IIb completed

Product development allia ance with

Orally active MAO-B inhibitor to slow p g ro ression o disease (AD) – Phase IIb (n >500, 52 week trial) of Alzheimer's

  • AD is the most common form of dementia (44 m peo 2013 worldwide); around 5% of individuals over 65 ye ple diagnosed with dementia in ears of age affected with AD
  • There is no cure for the disease, which worsens as it to affect 1 in 80 people by 2050 t progresses AD is predicted
  • Treatment is targeted to slow down the symptoms cognitive tests such as ADAS-cog1) of AD, measured in

About RO4602522 (EVT302)

  • MAO-B is normally present in brain and is responsibl le for break-down of certain neurotransmitters
  • MAO-B activity is linked to production of reactive oxy neuronal damage ygen species, molecules that can cause
  • Blocking the activity of MAO-B should reduce oxidativ ve stress which is expected to slow progression of AD

Janssen continuesthe field of CNS/des development of EVT100 series in epression

Product development allia ance with

Selective antag p onists of NMDA receptor NR2B subt typ p es in CNS/Depression

  • Treatment resistant depression (TRD) – highest unm met medical need in CNS1)
  • More than 350 m people suffer from depression globally
  • 1/3 of pp p atients does not respond to first line antidepressant
  • Significant side effects of all existing interventions
  • Expected advantages over non-selective NMDA anta (g ) e. . ketamine and memantine) due to better side eff agonists fect profile

About NMDA receptor NR2B subtypes (EVT100 ser ies )

  • EVT100 series are high affinity selective antagonists affinity, containing the NR2B subunit s of N-methyl-D-aspartate (NMDA) receptor subtypes aspartate
  • They bind preferentially to the activated form of the re eceptor (activity-dependent)
  • They modulate channel activity by inhibiting channel by channel opening probability

16 1) Definition CPMP Guidelines: TRD "Consecutive treatmen acceptable effect" (Cave pseudo-resistance) nt with 2 products of different classes, used for a sufficient length of time at an adequate dose, fail to induce an

Strong portfolio an pain and inflamma nd p p artnerships for novel ation targets

Pain and inflammation pip peline overview

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First-in-class netwpartnerships work for even strong p erortfolio of

EVT Innovate strategy 201 14

  • • Expansion of network k of top-class academic alliances
  • • Accelerated investmeinitiativesents in existing and new Cure X/Target X
  • • Progress of clinical pi peline within partnerships

• Partnering of at least one Cure X/Target X initiative

Agenda

Highlights Q1 2014

Operational progress

Financial performance a nd outlook

Solid revenue base – up 5% at constant FX rate

Key financials Q1 2014: Co ondensed profit & loss statement (IFRS)

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  • Higher investment in Innovate R&D
  • Increase in SG&A di b d i driven by upgrade in business development to t th

High q y ualit reven investment strateg nues within EVT Execute, clear gy in EVT Innovate

Condensed income statemment based on segments for Q1 2014

In € m

EVT
Execute		 EVT
Innovate		 Inter-
segment
elimination		 Evotec
Group		 • Increased invest-
ment in Cure X/
Revenues 19.2 2.5 (4.0) 17.6 Target X initiatives
Gross margin 23.5% 27.2% 26.2% • Positive adjusted
• R&D expenses 0.3 3.2 (0.5) 3.0 EBITDA of
$\epsilon$ 2.3 m in
• SG&A expenses 3.3 1.1 4.4 EVT Execute due
• Amortisation of intangible assets 0.7 0.1 - 0.8 to solid gross
• Impairment result, net 0.0 0.0 0.0 margin, even
• Restructuring expenses, net 0.0 0.0 $\overline{\phantom{0}}$ 0.0 without milestones
• Other op. income (expenses), net 0.0 0.0 0.0
Operating income (loss) 0.2 (3.7) (3.5)
EBITDA, adjusted 1) 2.3 (3.6) (1.3)
  • ment in Cure X/ Target X initiatives
  • Positive adjusted EBITDA of€ 2.3 m in EVT Execute dueto solid gross margin, even without milestones

Even without sign revenues and gros ificant milestones improved ss margins

Revenues & gross margin Q1

Clear investment f focus for first-in-class innovation

Overview R&D and SG&A

In € m

Clear investment strategy in Cure X and Target X initiatives

SG&A increase to strengthen and support growth

Guidance confirmeprofitability, even ed: Strong g or anic g g rowth, higher more innovation

Guidance 2014

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26 1) EBITDA is defined as earnings before interest, taxes, dep well as the total non-operating result preciation, and amortisation of intangibles. EBITDA excludes impairments on intangible and tangible assets as

2) Before potential cash outflow for M&A transactions and r related payments

Growth driven by high-quality services and alliances

Expected key events 2014

Key milestones in 2014

EVT Execute

  • Exp gg y ansion of existing drug discovery alliances
  • New long-term deals with big and mid-sized Ph harma and biotech
  • At least 1 new integ gy rated technology/disease a alliance

EVT Innovate

  • Expansion of network of top top-class academic all class liances
  • Increased investments in Cure X/Target X initia atives
  • Strong progress of clinical pipeline within partn erships (at least 2 clinical starts in 2014)
  • Partnering of at least one Cure X/Target X initia ative

Reporting dates 2014

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Building innovative drug discovery alliances

Your contact:

Dr Werner LanthalerChief Executive Officer

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

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