Evotec SE — Investor Presentation 2022

Oct 1, 2022

The Data-Driven R&D Autobahn to Cures

Global leadership in data, science & access

Disclaimer

This presentation (including any information which has been or may be supplied in writing or orally in connection herewith or in connection with any further inquiries) is being delivered on behalf of Evotec SE (the "Company", "we," "our" or "us"). This presentation is made pursuant to Section 5(d) and/or Rule 163B of the Securities Act of 1933, as amended, and is intended solely for investors that are qualified institutional buyers or certain institutional accredited investors solely for the purposes of familiarizing such investors with the Company. This presentation shall not constitute an offer to sell or the solicitation of an offer to buy Evotec securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. No representations or warranties, express or implied, are made as to the accuracy or completeness of the statements, estimates, projections or assumptions contained in the presentation, and neither the Company nor any of its directors, officers, employees, affiliates, agents, advisors or representatives shall have any liability relating thereto.

Cautionary Note Regarding Forward-Looking Statements

This presentation contains forward-looking statements concerning our business, operations and financial performance and condition, as well as our plans, objectives and expectations for our business operations and financial performance and condition. Many of the forward-looking statements contained in this presentation can be identified by the use of forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "should," "target," "would" and other similar expressions that are predictions of or indicate future events and future trends, although not all forward-looking statements contain these identifying words. Forward-looking statements are based on our management's beliefs and assumptions and on information currently available to our management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to a variety of factors. The forward-looking statements contained in this presentation speak only as of the date of this presentation, and unless otherwise required by law, we do not undertake any obligation to update them in light of new information or future developments or to release publicly any revisions to these statements in order to reflect later events or circumstances or to reflect the occurrence of unanticipated events.

Non-IFRS Measures

This presentation contains references to certain non-IFRS measures including EBITDA and Adjusted EBITDA, each of which are not recognized under International Financial Reporting Standards ("IFRS"). The Company believes that non-IFRS financial information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance and assists in comparisons with other companies, some of which use similar non-IFRS financial information to supplement their IFRS results. The non-IFRS financial information is presented for supplemental informational purposes only, and should not be considered a substitute for financial information presented in accordance with IFRS, and may be different from similarly titled non-IFRS measures used by other companies. EBITDA and Adjusted EBITDA each have limitations as an analytical tool, respectively, and you should not consider any of these measures either in isolation or as a substitute for other methods of analyzing the results as reported under IFRS. Our management team uses these non-IFRS financial measures to evaluate our profitability and efficiency, to compare operating results to prior periods, and to measure and allocate financial resources internally. However, management does not consider such non-IFRS measures in isolation or as an alternative to measures determined in accordance with IFRS. See appendix to this presentation for a reconciliation of Adjusted EBITDA to the nearest GAAP measure.

Agenda

Unique business strategy and capabilities to improve efficiency

Precision medicine platforms to improve probability of success

Building a strong growth business and a large royalty pool

Agenda

Unique strategy and capabilities to improve Efficiency & Probabilities of Success

Bringing the industry closer together

Our contribution to the industry

"The goal of Evolution is not one single human, it is mankind."

Manfred Eigen a large royalty pool 1927–2019, Co-founder of Evotec, Nobel Prize 1967

We design medicines for difficult to treat diseases in efficient collaborations

We focus on data driven precision medicine and early disease relevance to improve Probabilities of Success

We built the "shared economy" in R&D, designed to result in

Panomics and tech convergence bring up Probability of Success

Current challenges in R&D

Key challenges

			Development costs per asset increase
R&D model is inefficient	Challenging returns due to "too late and "expensive failure"			1,188	Cost per asset doubled since 2010, in US\$ m ~2,500 +100%
"One drug fits all" is outdated	90% of drugs are efficacious only in 50% of patients			2010	2020
New modalities did not solve all problems	9% of Phase I biologics receive approval2)		IRR since 201011,4)	~10	Commercial returns decrease
Emerging technologies are still very fragmented	Precision medicine toolkit, OMICS platforms, and AI/ML			2010	-80% ~23) 2020

1) IRR = Internal Rate of Return

2) https://pharmaintelligence.informa.com/~/media/informa-shop-window/pharma/2021/files/reports/2021-clinical-development-success-rates-2011-2020-v17.pdf ³ excl. Covid-19 vaccines

4) Sources: Deloitte – Centre for Health Solutions: Ten years on measuring the return of pharmaceutical innovation 2020; Evaluate Pharma – World Preview 2018 / World Preview 2020

Significant improvements of Probability of Success are possible

How we can improve Probability of Success (PoS) in early R&D (Examples/simplified)

Todays use of AI/ML

Target identification

System biology to better understand diseases e.g. associating existing targets with new diseases

Lead optimisation

In silico classification of targets via computational chemistry e.g. better prioritised drugs accelerated

Trial design

Understanding sub populations via biomarkers e.g. better patient stratification

Still a highly fragmented industry

Selected AI/ML companies (Industry landscape – Illustrative & highly simplified)

Agenda

Convergence of precision medicine platforms to improve probability of success

Developing precise medicines with panomics & tech convergence

Overview

	R&D efficiency platforms	Precision medi cine platforms	Right modality drug design	Just – Evotec Biologics
		Data-driven R&D Autobahn to Cures –		combining all relevant parts for an integrated, end-to-end approach

Continued strong partnerships with precision medicine platforms

Most significant alliances signed in H1 2022

platforms	R&D efficiency Precision medi Right modality Just – Evotec cine platforms drug design Biologics
	Data-driven Autobahn to Cure Data-driven R&D Autobahn to Cures
	Ophtalmology; iPSC- and EVOpanOmics; Undisclosed upfront and milestone payments, layered royalties
	Neurodegeneration; iPSC and expansion on target protein degradation
	Target protein degradation / molecular glues; EVOpanOmics & EVOpanHunter; € 200 m upfront, € 5 bn deal value, tiered royalties
	Kidney diseases & diabetes; E.MPD; EVOpanOmics; Undisclosed upfront payment; Five programmes with milestone payments of up to US\$180 preprogramme, tiered royalties
	Protein homeostasis; TargetAlloMod; €210 m milestone payment per project, tiered royalties

Integrated approach for deeper understanding of diseases

Multi-omics analyses on patient samples combined with iPSC based disease modelling

Protein degradation partnership with BMS becomes strategic

Using EVOpanOmics & EVOpanHunter – Quantum Leap in 2022

&

E.MPD core component of alliances in CKD

CKD strategic drug discovery deals

	*
2016/17	2018/19	2020	2021	2022
 Upfront  Research funding  Milestones > € 300 m per product  Tiered royalties	 Vifor funded: € 25 m  50% on all projects  JV: NepThera	 Upfront  Research funding  Milestones > € 150 m per product  Tiered royalties	 Upfront  Research funding  Milestones  Tiered royalties	 Upfront  Research funding  Milestones US\$ 180 m per product  Tiered royalties

From Target identification & validation, via biomarker identification, to patient stratification

iPSC already highly productive, …"but just the beginning"

Continuous expansion of disease models and programs to result in new collaborations

Proof of concept in iPSC drug discovery from target ID to clinical development shown for Neurodegenerative Diseases

Delivering health by expanding & improving cell therapy research

Overview H1 2022

platforms	R&D efficiency Precision medi Right modality Just – Evotec cine platforms drug design Biologics
	Data-driven Autobahn to Cure Data-driven R&D Autobahn to Cures
	 QRBeta 1.0 – First generation cell therapy for Insulin-dependent diabetes  iPSC-based beta cells combined with Cell Pouch™
Evotec (Modena)	 Acquisition of Rigenerand Srl, Medolla, Italy, now operating as Evotec (Modena) Srl  Evotec Cell Accelerator: cGMP manufacturing as basis for off-the-shelf cell therapies

Transformative iPSC-based disease modelling & cell therapy

Industry leading iPSC platform

2) https://www.grandviewresearch.com/industry-analysis/cell-therapy-market, Evotec estimates

https://www.researchandmarkets.com/reports/4805485/induced-pluripotent-stem-cell-ipsc-global

Building a iPSC-based cell therapy pipeline

Internal off-the-shelf cell therapy programmes

Field	Program / Project	Disease area	Exploratory	Pre-clinical research	Pre-clinical development	IND / Phase 1		iPSC-based cell types
Anti-tumour cell therapy	iNK	IO1)					iNK	Natural killer cells
	iM	IO					iT	and Ȗδ T cells αȕ
	Ȗδ iT	IO					iM	Macrophages
	iT αȕ	IO					iBeta	Pancreatic islets
Regenerative therapy	Sernova Cell PouchTM	Diabetes					iCM	Cardiomyocytes
	iCM	Heart failure					iMSC	Mesenchymal
Immune-modulation	iMSCs, iMSC exosomes	Various						stromal cells
	iNK, iTreg	Anti-fibrotic, auto-immune

Shaping the value proposition to meet future demand

Just – Evotec Biologics development update

¹⁾ This project benefits from French government funding as part of the Investments for the future Programme (programme d'investissements d'avenir in French) and is also supported economically by the Occitanie Region and Toulouse Métropole.

Continuous process outperforming fed batch 20x

Large scale production readiness is imminent

Fully end-to-end continuous process for late-stage products (> 25-day production)

Programmes of partners with increasing breadth and depth

Just – Evotec Biologics client programmes

Disease area	No. of programmes	Discovery	J.MD Optimization	Pre-clinical development	Clinical manufacturing	Commercial Manufacturing	Broad basis for sustained growth
	1						 > 15 partners / 18 programmes
Oncology	4						 Well balanced partner structure  Large / Mid-sized Pharma
Autoimmune	1						 Large / Small Biotech
Cardiovascular	2			Fi			 Foundations
CNS	1						 Continued emphasis on optimal value mix of
	1						 Fee for service
Infectious diseases	3						 EVOroyalty  EVOequity
	2						 Better access to affordable medicine
Other / undisclosed	ND1)						for all >50% of programmes addressing
	ND						targets set to reach UN SDG 32)

2 ) United Nations Sustainable Development Goal 3: Ensure healthy lives and promote well-being for all at all ages

Strong growth of biologics business

New programme wins and sales orderbook value

• Number of newly signed programmes in 1H2022 already exceeds number during FY 2021
• New contracts carry significantly higher value than in FY2021
• Progress of projects through development process (discovery, clinical, commercial) and new signings will result in acceleration of business pipeline growth

Building a strong growth business and a large royalty pool

Significant expansion of alliances is basis for long-term success

Attraction, Extension, Retention

Customer base more diversified; revenues have grown significantly

• Integrated drug discover & development offering yields increasing "share of wallet"
• Faster and better results versus in-house infrastructures

• Solid customer retention rates
• Strong basis for double-digit growth

The growing iceberg of product opportunities

220 projects including EVOequity and BRIDGEs: ~180 in partnerships, >40 internal R&D

Neuroscience & Pain			Oncology			Metabolic Diseases		Inflammation &			Virology	Anti-bacterial		Global
																Immunology1)						Health
	Ph3	Insomnia																				ND
	Ph2	DNP					Breast Cancer			Carrick
Clinical		Pain					A2A			Carrick					Endo
	Ph1	ND	ND	ND	Exscientia		EVT801			Carrick					P2X7	Endo	Topas					CHIK-V
					Aeovian					Exscientia			EVT		ND	Fibrocor	Topas	HBV
Preclinical			Exscientia					Exscientia	ND	ND	Encaps iß		Topas	Topas	Exscientia	COVID-19		Noso-502	Forge
			ND		Facio		IO	ND	ND	Autobahn				Eternygen		Exscientia	LAB150
	LO	ND	ND		Argobio		ND	ND	EVT	Immunitas			EVT	ND		Topas	LAB282			ND		Malaria
		Bayer NDND	EVT	EVT	LAB282		ND	LDD	EVT	Exscientia	Breakpoint	ND	EVT	LAB282		Celmatix	ND			ND	Forge	ND
							EVT	EVT		Autobahn	DarkBlue	EVT	EVT		ND	ND	ND
	H2L	ND					EVT	EVT		Breakpoint	LAB282	ND	EVT	ND	ND		Blacksmith					ND
		ND	ND	EVT	LAB282		EVT	EVT	Carrick	Blacksmith	Danube	EVT	EVT	EVT	ND	ND	Fibrocor		LAB282		Forge	ND
Dis								EVT	EVT		Labs	ND						ND
covery					Autobahn		ND		EVT				ND
		ND					ND	EVT		Immunitas		ND	ND			Celmatix		ND
	AD/	ND	ND		Cajal Neuro		ND	EVT	EVT	Quantro	BELAB1407	ND	ND	EVT		CureXsys		ND				ND
	Scr.	ND	ND	EVT	Facio		ND	EVT	EVT	Ananke	BELAB2122	ND	EVT	EVT	ND	Exscientia		ND		ND		ND
		ND	ND	EVT	Exscientia		ND	EVT	EVT	Autobahn	LAB282	ND	EVT	LAB282	ND	Fibrocor		ND		ND		ND
		ND	ND	EVT	CureXsys	LAB282	ND	ND	EVT	Exscientia	LAB150	ND	EVT	LAB150	ND	LAB150		ND	Exscientia	ND	Forge	ND
		ND	ND	EVT	EVT	LAB150	ND	ND	EVT	OxVax	Argobio	ND	EVT	ND	EVT	LAB282		ND	LAB282	ND	Exscientia	ND
Integrated Drug Partnered Pipeline Unpartnered Pipeline Equity Pipeline BRIDGEs Pipeline Discovery

1) Also includes Women's Health, Respiratory projects

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

"Evotec Inside"

Steady stream of high-value catalysts

Discovery

Selected pipeline events within next 12 – 24 months

• Phase III & registration (CHN) JingXin in insomnia (EVT201)
• Phase II data with Bayer in DNP (BAY2395840)
• Phase II initiation with Bayer in Gynaecology (BAY2395840)
• Phase I data in Chikungunya virus (EVT894)
• Phase I data with BMS in CNS (EVT8683)
• Phase I data with Kazia in Oncology (EVT801)
• Phase Ib/II initiation of Exscientia in Oncology (EXS21546)
• Phase I initiation in Covid-19 / HBV (EVT075)
• Phase I Initiation with Bayer in Kidney diseases
• Phase I Initiation with Kidney diseases with other partners
• Phase I initiation with BMS in CNS
• Phase I Initiation with BMS in Oncology
• Multiple co-owned equity companies (not outlined here) will progress in clinic (e.g. Topas, Forge, Carrick, Fibrocor, …)

	Molecule	Therapeutic Area/Indication	Partner	Discovery	Pre-clinical	Phase I	Phase II	Phase III
	EVT201	Insomnia (GABA-A)
	Not Disclosed	Infectious Disease (Antibody)
	BAY2395840	Diabetic Neuropathic Pain (B1)
	CT7001	Oncology (CDK7)
	XP-105	Oncology (mTORC1/2)
	EVT401	Immunology & Inflammation (P2X7)
	BAY2328065	Gynaecology
	EXS21546	Oncology (various programmes)
Clinical	CNTX 6016	Pain (CB2)
	EVT894	Chikungunya (Antibody)
	Not Disclosed	Neuroscience & Pain	n.a.
	Not Disclosed	Neuroscience & Pain	n.a.
	EVT801	Oncology (VEGFR3)
	EVT8683	Neurodegeneration (eIF2b activator)
	TPM203	Pemphigus Vulgaris (ND)
	CT7001	Oncology (CDK7)
	CT7001	Oncology (CDK7)
	APN411	Oncology Immunotherapy –
	GLPGxxxx	Fibrosis (not disclosed)
	BAYxxxx	Nephrology (not disclosed)
	QRB001	Metabolic – Diabetes (not disclosed)
Pre-clinical	EVT075	Covid-19 / HBV	n.a.
	Not disclosed	Various programmes
	EVTxxxx	CNS, Metabolic, Pain, …	>10 further programmes

Multiple programmes across nephrology, oncology, immunology among other therapeutic areas

EVOequity accelerates co-owning strategy

Operational VC model - diversified portfolio with multiple shots on goal

On track towards reaching AP 2025 goal

Guidance 2022

	Guidance 2022	YE 2021	Implied growth at midpoint
Group revenues (H1 2022) constant fx-rates1)) (at	735 m € 715 – (€ 690 – 710 m)	€ 618 m	>15%
R&D2) Unpartnered	80 m € 70 –	€ 58 m	~30%
Adjusted EBITDA3) (at constant fx-rates; H1 2022)	120 m € 105 – (€ 85 – 100 m)	€ 107 m	At least stable

Approx. € 300 m investment programme for enabling and supporting growth (e.g. capacity expansion, …)

1) EUR/US\$ 1.18; EUR/GBP 0.86

2) No material FX effects as most R&D efforts are carried out in € area

3) Excluding M&A related costs and before contingent considerations, income from bargain purchase & excl. impairments on goodwill, other intangible & tangible assets as well as the total non-operating result

Clear strategy in place

Growth and investment strategy overview – Action Plan 2025

Setting the pace to accelerate growth along Action Plan 2025

Selected major newsflow 2022

R&D efficiency platforms	• Undisrupted growth of base business, in-line with AP 2025 (EVOiR&D) New integrated drug discovery & development alliances • Significant capacity and value chain expansion for all modalities •
Precision medicine platforms	• New strategic partnerships and expansions of co-owned alliances • New clinical trial initiations Significant progress of later stage co-owned pipeline (EVOroyalty) • Spin-Offs and investments along Building Blocks of AP 2025 (EVOequity) •
Just – Evotec Biologics	Start of production J.POD® Redmond, WA (US) • Start of construction J.POD® Toulouse, France (EU)1) • Evaluation of global network of J.PODs® • (EVOaccess)
Group & ESG	• Undisrupted growth trend versus 2021 in line with AP 2025 Growth of unpartnered R&D investments faster than top-line • Validated science-based targets aligned with 1.5°C goal • Highly impactful contribution to UN SDG 32) •

1)UN Sustainable Development Goal 3: Improve health and well-being with main targets for us on women's health, fight against infectious diseases and pandemic preparedness

1) This project benefits from French government funding as part of the Investments for the future Programme (programme d'investissements d'avenir in French) and is also supported economically by the Occitanie Region and Toulouse Métropole.

2) UN Sustainable Development Goal 3: Improve health and well-being with main targets for us on women's health, fight against infectious diseases and pandemic preparedness

Looking forward to seeing you in person

Financial calendar 2022

Quarterly Statement Q1 2022		11 May 2022
Virtual Annual General Meeting 2022		22 June 2022
Half-year 2022 Interim Report		11 August 2022
Capital Markets Day in Seattle / Redmond	02 November 2022
Quarterly Statement 9M 2022	09 November 2022

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Appendix

Action Plans deliver significant value

Action Plans in numbers - "… we are just at the beginning"

Platforms and panomics technologies for more precision and efficiency

Evotec today – 16 Sites and more than 4,500 employees

1) This project benefits from French government funding as part of the Investments for the future Programme (programme d'investissements d'avenir in French) and is also supported economically by the Occitanie Region and Toulouse Métropole.

Great talent pool

Overview Employees – more than 4,500

Interdisciplinary  Biochemists  Medicinal chemists  Molecular biologists  Cell biologists	 Toxicologists  Data scientists  Process/Analytical chemists  Clinicians  mAb process engineers	International1) 22% Others 19% Italian 20% German 18% British 21% French
Highly qualified 76% with at least one academic qualification	24% other degrees	Diverse and experienced   84 nationalities 54% women   >30% PhDs > 36% with more than five years at Evotec  Average age: 38.5 years

Our purpose is to go VERY long as ONE – #researchneverstops

Sustainable thinking is holistic and ensures long-term success

Strong team and shareholders supporting sustainable growth

Management & shareholder structure1)

Number of shares: 177.0 m

Listings: Frankfurt Stock Exchange (MDAX, TecDAX), Ticker: EVT NASDAQ Global Select Market (ADS), Ticker: EVO 52 week high/low: € 45.47/€ 17.19

Management Board

• Werner Lanthaler (CEO) Long-time experience in Pharma & biotech
• Cord Dohrmann (CSO) Long-time experience in drug discovery
• Matthias Evers (CBO) Long-time experience in business development, technology and strategy
• Craig Johnstone (COO) Strong drug discovery and commercial track record
• Enno Spillner (CFO) Long-time experience in finance & biotech

Supervisory Board

• Iris Löw-Friedrich UCB
• Camilla Macapili Languille Mubadala Investment Co.
• Mario Polywka Ex-Evotec
• Roland Sackers QIAGEN
• Elaine Sullivan Ex-Lilly
• Constanze Ulmer-Eilfort PSP Munich

Your contact:

Volker Braun Global Head of Investor Relations & ESG

+49.(0).40.560 81-775 +49.(0).151 1940 5058 (m) volker.braun@evotec.com