Evotec SE — Investor Presentation 2021

May 11, 2021

Accelerating on the datadriven Autobahn to Cures

Cautionary statement regarding forward-looking statements

Information set forth in this presentation contains forward-looking statements, which involve a number of risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, which are often indicated by terms such as "anticipate", "believe", "could", "estimate", "expect", "goal", "intend", "look forward to", "may", "plan", "potential", "predict", "project", "should", "will", "would" and similar expressions. The forward-looking statements contained herein represent the judgement of Evotec as of the date of this presentation. Such forward-looking 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. 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. Given these risks, uncertainties, and other factors, you should not place undue reliance on these forward-looking statements.

Note:

The operating business of Evotec GT commenced on 1 April 2020. In addition, the acquisition of the assets (mainly land and buildings) and the takeover of employees of the Biopark by Sanofi SAS in Toulouse became legally effective on 1 July 2020. The two entities were fully consolidated in the consolidated financial statements from the dates specified above.

Welcome

The Management Team

Agenda

Highlights

Financial performance Q1 2021

Scientific and operational performance Q1 2021

Outlook and Guidance 2021

Successful start with multiple new and extended partnerships

Q1 2021 – Highlights

• Continued strong performance despite COVID-19 pandemic
• New INDiGO and CMC collaborations
• Extended targeted protein degradation partnership with Bristol Myers Squibb

• Just Evotec Biologics continuing on its success course: J.POD® 1 US in Redmond on schedule; construction of first European J.POD® 2 EU expected to start in H2 2021
• Projects entering clinical development: EVT894 (Chik-V); Immuno-oncology A2a antagonist (Exscientia)
• Implementation of strategic framework Action Plan 2025 "The data-driven R&D Autobahn to Cures"
• New BRIDGEs initiated ("beLAB2122" and "beLAB1407" (after period-end))

Record like-for-like growth in base business

Financials Q1 2021 & FY 2021 guidance

Improving momentum

• Group revenues up 11% (€ 133.1 m vs. Q1 2020: € 119.4 m)
  • Like-for-like growth of Group revenues (adj. for end of Sanofi payment and fx) up 26%
  • Like-for-like growth of base business (excl. milestones, upfront payments, licenses) up 28%
• Adjusted Group EBITDA3) of € 21.1 m (Q1 2020: 30.0 m); Like-for-like growth + 16%
• Increased investment into unpartnered R&D expenses of € 14.9 m (Q1 2020: € 11.4 m)

Guidance confirmed

• Very good top-line growth expected
  • Total Group revenues € 550-570 m (2020: € 500.9 m) (€ 565-585 m at constant exchange rates1))

Accelerated R&D investments for growth

Unpartnered Group R&D expenses of € 50-60 m2) (2020: € 46.4 m)

Strong adj. EBITDA – despite massive investments

Adjusted Group EBITDA3) € 105-120 m (2020: € 106.6 m) (€ 115-130 m at constant exchange rates1))

1) \$/€ 2020: 1.15; €/GBP 2020: 1.13

²⁾ Evotec focuses its guidance and upcoming reporting on the "unpartnered R&D" part. ID-related R&D expenses will be fully reimbursed by its partner Sanofi ("partnered R&D"). 3) Before contingent considerations, income from bargain purchase & excl. impairments on goodwill, other intangible & tangible assets as well as the total non-operating result

Action Plan 2025 – The data-driven R&D Autobahn to Cures

Our strategic frameworks

Action Plans deliver significant value – "… just at the beginning"

Action Plans in numbers

The power of data & science to deliver enhanced speed, lower cost & predictive efficacy

Eight building blocks to improve innovation & value

We offer what the industry truly needs

Key growth drivers for high-impact and high-value business

R&D efficiency platforms1)	From high quality stand-alone services to EVOiR&D	EVOequity & EVOroyalty
AI/ML & Precision medicine platforms	From molecular platforms via iPSCs to EVOpanOmics & EVOpanHunter
Just – Evotec Biologics1)	With EVOaccess from J.HALSM to J.POD®
Multi-modality drug design	From small molecules & biologics to EVOcells & EVOgenes

Clearly defined, highest quality work drives base business

Capabilities & expertise overview

Industry needs		Capabilities & expertise create multimodality & data-driven R&D Autobahn for growth
	R&D efficiency platforms1)	Target ID & validation	Hit identification	Sample DMPK & management ADME-Tox	Research Informatics	Bio Reagents	In vitro biology	In vivo Pharmacology	Biomarker discovery	Integrated CMC	Lead optimisation
	AI/ML & Pre cision medicine platforms	EVOpanOmics EVOpanHunter			iPSC Lighthouse		ScreenSeq™		ScreenPep™
	Just – Evotec Biologics1)
	Multi-modality drug design	EVOcells		EVOgenes	Antibodies & Bifunctionals	Small molecules	Antisense		Protein degradation	Exosomes		RNA

Agenda

Highlights

Financial performance Q1 2021

Scientific and operational performance Q1 2021

Outlook and Guidance 2021

Very strong like-for-like growth – On track for 2021 goals

Condensed income statement Q1 2021

in EUR m1)
	Q1 2021	Q1 2020	% vs. 2020
Revenues from contracts with customers	133.1	119.4	11%
Gross margin	23.1%	27.9%	–
 R&D expenses	(18.5)	(15.1)	23%
 SG&A expenses	(21.2)	(17.3)	23%
 Other op. income (expenses), net	15.8	15.1	5%
Operating income	6.8	16.1	(58)%
Adjusted Group EBITDA2)	21.1	30.0	(30)%
Net income	52.7	17.1	209%

	Total fx adj. Group revenue growth
	17% (26%, adjusted for portfolio & fx)

• R&D as well as SG&A expenses up within expected range
• Other operating income continues to be driven mainly by tax credits & ID Lyon reimbursement
• Adj. EBITDA like-for-like growth 16% despite higher R&D and SG&A expenses
• Net income benefitting from fair value adjustment of Exscientia (EVOequity) investment

PAGE 12

1) Differences may occur due to rounding

2) Before contingent considerations, income from bargain purchase and excl. impairments on goodwill, other intangible and tangible assets as well as the total non-operating result

Dynamic organic growth in base revenues

Revenues & Gross margin overview

• Growth across all business lines, despite
  • anticipated end of payments from Sanofi for the Toulouse site
  • overall lower upfront, milestones and license payments and the
  • negative fx effects
• Base business up 13%; Like-for-like growth up 28% (adj. for portfolio & fx)
• Milestones, upfront payments, licenses of € 4.7 m in-line with expectations (Q1 2020: € 5.4 m)
• Just Evotec Biologics organic growth > 60% to € 9.7 m (Q1 2020: € 5.9 m)
• Slightly lower total gross margin due to the same drivers mentioned above

Integrated offering drives strong growth in both segments

Segment information Q1 2021 – Evotec SE and subsidiaries

in EUR m1)

	EVT Execute	EVT Innovate	Inter segment elimination	Evotec Group
Revenues	136.9	28.2	(32.0)	133.1
Gross margin	21.4%	10.8%	–	23.1%
 R&D expenses	(2.0)	(18.1)	1.6	(18.5)
 SG&A expenses	(17.0)	(4.2)	–	(21.2)
 Other op. income (expenses), net	4.6	11.2	–	15.8
Operating income	14.8	(8.0)	–	6.8
Adjusted Group EBITDA2)	28.3	(7.2)	–	21.1

• EVT Execute: 16% revenue growth including inter-segment revenues implies accelerating demand for integrated offering; 14% growth of external revenues driven by strong base business
• EVT Innovate: Strong revenue growth of 21% driven by demand for precision medicine
• Adjusted Group EBITDA influenced by the end of Sanofi payments, unfavourable fx effects and increased commitment to unpartnered R&D – as anticipated and reflected in guidance

PAGE 14

1) Differences may occur due to rounding

2) Before contingent considerations, income from bargain purchase and excl. impairments on goodwill, other intangible and tangible assets as well as the total non-operating result

Base business at record growth

Revenue bridge Q1 2020 – Q1 2021

• Reported 11% growth of Group revenues
• Comparable base for the last time adjusted for end of Sanofi payment (Contract ended on 31 March 2020: € (8.6) m in Q1 2020

fx effect: € (6.0) m (-5%)

Organic growth: € 28.4 m (+26%), driven by base business (Like-for-like growth of +28%)

EBITDA with organic double-digit growth

EBITDA bridge Q1 2020 – Q1 2021

Strong balance sheet and cash position

Balance sheet – 31 Mar. 2021 versus 31 December 2020

Agenda

Highlights

Financial performance Q1 2021

Scientific and operational performance Q1 2021

Outlook and Guidance 2021

The iceberg of EVT Innovate product opportunities

In total > 200 projects with financial upside within "EVOroyalty"

		Neuroscience & Pain			Oncology					Metabolic Diseases					Inflammation & Immunology*	Virology	Anti-bacterial		Global Health
	Ph3	Insomnia
Clinical	Ph2	CC - P2X3	NP– P2X3	OAB–P2X3		Breast cancer			Carrick Breast Cancer					Endo – P2X3
		ND	Pain											Endo	Endo
	Ph1	ND	ND			A2A								Asthma	P2X7	Topas Pemphis vulgaris				CHIK-V
		ALS							Exscientia ND 1		ND 7	QRbeta Encapsß		ND 8	Fibrocor IPF	Topas Topas Celiac disease Uveitis/Cholangitis	HBV	Noso-502	Forge LpxC UTI
Preclinical		ND				EVT 801			Exscientia ND 2			EVT S460			Topas Anti-drug IR	Exscientia ND 6	Covid-19 3
		ND 12					EVT TargetFAP		Immunitas solid and hemat								ND
		ND 11					EVT FF-Ab 2		Immunitas IMT-073			QRbeta iBeta					HBV-HBx
		ND 10					EVT FF-Ab 1		Exscientia ND 5			EVT Fibr. IBD 2			Topas ND 2		HBV RNA
		ND 9					EVT MDSC-screen		Quantro ND		ND 6	EVT Fibr. IBD 1			Topas ND 1		HBV-HBc
		ND 8			Cajal Neurosciences		EVT/MF AlloMod 3		Breakpoint ND 2 Breakpoint		ND 5	EVT TargetTF CDK/fibrosis		ND 7	Blacksmith ND		EBV 2		Forge LpxC Lung
		ND 7		EVT Fragile X	Aeovian ND	IO	EVT/MF AlloMod 2	EVT iTab	ND 1 Blacksmith		ND 4	EVT TargetTF Fibrosis		ND 6	Celmatix OS		EBV 1	Tribe Carb-X	Forge LpxC STD	Malaria
Discovery		ND 6		EVT Canavan	Facio FSHD 1	LDD 5	EVT/TMF AlloMod 1	EVT iM	ND Exscientia		ND 3	EVT TargetTF Inflammation	Eternygen NASH/Diabetes	ND 5	Celmatix PCOS		Flu 2	Noso-2G	Forge DXR	AP series
		ND 5	ND 14	EVT Gaucher	Facio FSHD 2	LDD 4	EVT/Indiv Lung c 3	EVT iTgd	IO Exscientia IO		ND 2	EVT NephSyn	NephThera ND	ND 4	Fibrocor Fibrosis		Flu 1 Covid-19 2	Cystobactamid eAMR	Forge IspF	Triazol series Indazol series
		ND 4	LDD 3	EVT RPE-P	Exscientia Psychiatry	Onco 4	EVT/Indiv Lung c 2	EVT iNK	Exscientia ND 3	Immunitas ND	ND 1	EVT NephSyn	Topas T1D	ND 3	Fibrocor CA Nephropathy		Covid-19 1	Staph persist	Forge RNAP	TB HTS
		ND 3	LDD 2	EVT iPSC Myelin	LAB031	Onco 3	EVT/Indiv Lung c 1	EVT act	Exscientia ND 4	LAB150 N=2	Fibrosis	EVT Nurture	Topas PV	ND 2	Exscientia Respiratory		BKV	RNA Pol	Forge ThrS	Product Screen
		ND 2	LDD 1	EVT iPSC- ICT	LAB282 N=2	Onco 2	EVT/Indiv Colon c 2	EVT Ice	DarkBlue Therapeutics	LAB031 N=5	LDD 7	EVT QUOD	LAB150 N=1	ND 1	Exscientia ND 7	LAB150 N=2	Exscientia Covid-19	MAIT	Forge ND	TB patDB
		ND 1	ND 15	EVT iPSC Dir. Diff.	LAB150 N=3	Onco 1	EVT/Indiv Colon c 1	EVT ObliTaim	Autobahn Labs	LAB282 N=7	LDD 6	EVT Neplex	LAB282 N=3	EVT ILR-23	CureXsys ND	LAB282 N=5	LAB282 N=2	VMM	LAB282 N=2	Resorcinomyci n
Partnered Pipeline				Unpartnered Pipeline		Equity Pipeline			Bridges Pipeline

PAGE 19 *Also includes Women's Health, Respiratory projects

The Equity Pipeline does not contain programs from EVT/partners that are not publically disclosed

Molecular patient data bases are re-defining health and disease

The foundation of precision medicine

Molecular patient database grows in depth and breadth

Example Kidney/Liver: Value of data grows exponentially with access to further biobanks

Rapid development of efficient antibodies

Just – Evotec Biologics

Just – Evotec Biologics on track for commercial manufacturing

J.POD® facilities and highlights

• J.POD® 1 US construction work making considerable progress
• Alliance with Department of Defense for anti-SARS-Cov2 antibodies fully on track, multiple other new partnerships initiated
• J.POD® 2 EU in Toulouse at Campus Curie creates operational efficiency and design for multi-modality biological treatments such as cell therapy and adds further synergy with EVT strategic needs
• Up to € 50 m from the French government, the Occitanie region, Bpifrance, the Haute-Garonne prefecture as well as Toulouse Métropole

BRIDGEs bring multiple future investment options

Creating long-term optionality with efficient translation

Very good progress within Evotec's equity portfolio

Equity participations for co-owned pipeline

participation Inflammatory disease

participation

Initiated 2017

Fibrosis partnership

participation Targeting metalloenzymes

Initiated 2017

Initiated 2019

At equity investments (share ≥ 20% or significant influence) Joint Venture
Equity participation		Spin-off		Equity participation		Spin-off		Equity participation		Equity participation		Equity participation		Joint Venture
Metabolic disorders		Nanoparticle-based therapeutics		FSHD		DNA damage response		Women's health		Cross therapeutic areas		and partnership Oncology		with Vifor Pharma Nephrology
Initiated 2016		Initiated 2016		Initiated 2017		Initiated 2019		Initiated 2019		Initiated 2019		Initiated in 2020		Initiated 2019
Minority Shareholdings (share < 20%)
Equity	Equity		Equity	Equity	Equity		Equity	Equity	Spin-off		Equity	Equity	Equity		Equity

participation

(LAB282) Oncology

Initiated 2020

Initiated 2019

Oncology

participation Oncology / Biologics

Initiated 2019

participation Neuroscience participation

Initiated 2021

Immunooncology

participation Failsafe cloaking for cell therapies

participation Formulation nanotechnologies

Initiated 2020

Initiated 2020

Initiated 2020

participation Innovative pathways in oncology

participation AI for automated drug design

Initiated 2017

Initiated 2016

Agenda

Highlights

Financial performance Q1 2021

Scientific and operational performance Q1 2021

Outlook and Guidance 2021

Keeping the promise

ESG & Sustainability – Measures taken in Q1 2021

First steps to reduce emissions

Sourcing of 100% renewable energy since January 2021 at all German sites

Organisational alignments

• Group-wide inclusion of ESG topics in personal 2021 targets of all employees
• Implementation of cross-functional sustainability working groups
• Definition of responsibilities for delivering expanded set of sustainability KPIs

Intensified stakeholder dialogue

• Increasing awareness and appreciation of investors and rating agencies
• MSCI ESG rating up from BBB to A as of January 2021

Strong year ahead

Guidance 2021

Very good top-line growth expected

• Assumption based on current orders, prospective milestone payments
• Total Group revenues € 550-570 m (€ 565-585 m at constant exchange rates1))

• Regardless of COVID-19, increasing expenses of promising R&D projects, ramp-up of Just
  • Evotec Biologics business (expansion of J.POD® 1 capacities in US & J.POD® 2 in EU)
• Adjusted Group EBITDA2) € 105-120 m (€ 115-130 m at constant exchange rates1))

Accelerated R&D investments for growth

• Further expand long-term & sustainable pipeline of first-in-class projects & platforms
• Unpartnered Group R&D expenses of € 50-60 m3)

¹⁾ \$/€ 2020: 1.15; €/GBP 2020: 1.13

²⁾ Before contingent considerations, income from bargain purchase & excl. impairments on goodwill, other intangible & tangible assets as well as the total non-operating result

³⁾ Evotec focuses its guidance and upcoming reporting on the "unpartnered R&D" part. ID-related R&D expenses will be fully reimbursed by its partner Sanofi ("partnered R&D").

Our mid-term aspirations are "…just the beginning"

2020-2025e Key Performance Indicator goals

Strong short-term news flow to be continued

Overview

EVT Execute

New integrated service alliances in drug discovery & development

EVT Innovate

• New clinical initiations and progress of co-owned pipeline
• New co-owned partnerships

EVT Equity & BRIDGES

• Initiation of new BRIDGEs
• New operational ventures

Upcoming important dates

Financial calendar 2021

Quarterly Statement Q1 2021	11 May 2021
Virtual Annual General Meeting 2021	15 June 2021
Half-year 2021 Interim Report	11 August 2021
Virtual Capital Markets Day	Date tbc
Quarterly Statement 9M 2021	11 November 2021

Your contact:

Dr Werner Lanthaler Chief Executive Officer

+49.(0).40.560 81-242 +49.(0).40.560 81-333 Fax werner.lanthaler@evotec.com