Evotec SE — Investor Presentation 2023

Nov 1, 2023

General company presentation

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 forwardlooking 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 forwardlooking 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.

• Together for Medicines that Matter 1
• PanOmics 2
• iPSCs 3
• Just Evotec Biologics 4
• End-to-End Shared R&D 5
• Business / Financials / ESG 6

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

Eigen's theories about self-organisation of complex molecules and his development of the evolution machine founded a new branch of science – evolutionary biotechnology.

Manfred Eigen (1927–2019) Co-founder of Evotec, Nobel Prize 1967

Together for Medicines that Matter

PAGE 5

We aspire to impact patients' lives by

• PanOmics-driven drug discovery for deep disease understanding and effective therapies
• IPSCs "off-the-shelf" cell therapy based on induced-pluripotent stem cells

• Just – Evotec Biologics

Artificial Intelligence and continuous manufacturing for better access to biologics

• End-to-End Shared R&D

Integrated business-to-business platform for increased probability of success from target to the clinic

Together for medicines that matter

Game changers within business to business / partnered R&D

More precise medicine PanOmics databases, multi-modality End-to-End Shared R&D

A.I./M.L. & technology convergence Latest technologies coming together with drug discovery, development, safety prediction and molecular diagnostics

Right business model & best talents

Collaboration – from fixed to variable costs, with efficient access to best know-how

Industry at a pivotal moment

A shared economy platform in R&D

Need for more precision Most drugs still provide benefit in only 50% of patients

Need for better disease understanding

Lifetime risk for cancer e.g., 44% in men & 38% in women

Need for wider access Less than 20% of world's population have

access to life changing biotherapeutics

Need for better safety earlier 60% of all drugs still do not pass Phase I

Our focus areas

Sources: Schuhmacher A, et al. R&D efficiency of leading pharmaceutical companies - A 20-year analysis. Drug Discov Today. 2021 Aug;26(8):1784-1789. doi: 10.1016/j.drudis.2021.05.005. BIO, QLS Advisors, Informa UK Ltd: Clinical Development Success Rates and Contributing Factors 2011–2020, February 2021. Hingorani, A.D., Kuan, V., Finan, C. et al. Improving the odds of drug development success through human genomics: modelling study. Sci Rep 9, 18911 (2019). https://doi.org/10.1038/s41598-019-54849-w: Ageing and Health, WHO, October 2021; Evotec estimates 1 Includes PanOmics-enabled drug discovery, iPSC drug discovery platforms as well as molecular patient databases and clinical stratification

Fully integrated in discovery, development & manufacturing

Illustrative functional capabilities along the value chain

Scientific leadership translating in commercial success

Massive milestone & royalty pool "…just at the beginning"

Broadened and deepened strategic alliance in neurodegeneration

• Extension and expansion for eight more years
• \$ 50 m upfront payment, undisclosed license and performance milestone payments
• Tiered royalties of up to low double-digit percentage
• Total transaction value > US\$ 4 bn

Development of pipeline based on novel mechanism of protein degradation

• Extension by 8 years and significant expansion
• US\$ 200 m upfront payment
• Tiered royalties of up to low double-digit percentage

Collaboration with Janssen for development of innovative immune-based therapies in oncology

• milestone payments of up to US\$ 350 m per project; tiered royalties

Technology-Partnership for biosimilars development and manufacturing

• Portfolio of next-generation biosimilars
• Non-disclosed double-digit-million upfront; up to US\$ 640 m Development revenues
• Non-disclosed payments for progress into commercial manufacturing and royalties

• Total transaction value of up to US\$ 5 bn Exclusive strategic partnership for development of iPSC-based beta-cell replacement therapy in diabetes

• Combination of iPSC-based beta-cells with Sernova's Cell Pouch™
• € 20 m equity investment in Sernova
• Phase I planned for 2024

Growing milestone cascade towards a massive royalty pool Selected KPIs

The growing "iceberg" of first & best-in-class treatment options

140 co-owned projects

		Neuroscience & pain				Oncology			Metabolic diseases			Inflammation & Immunology1		Virology, Anti-bacterial & Global health
Approved																					SK Bio
PhIII		Jingxin
PhII									Carrick					Topas
Clinical		Centrexion	ND								Bayer
PhI		BMS	ND			Kazia	Carrick*		Immunitas		Sernova			Conba	Exscientia	Topas					NIH
		ND	ND			ND	ND	EVT			ND	EVT
		ND	ND			ND	ND	EVT	EVT		ND	EVT		ND
		ND	ND			ND	ND	EVT	EVT		ND	EVT		ND
		ND	ND			ND	ND	EVT	EVT		ND	EVT		ND
		ND	ND			ND	ND	EVT	EVT		ND	EVT		ND			ND	ND		EVT
Pre-clinical &		ND	ND			ND	ND	EVT	EVT		ND	EVT		ND			ND	ND	ND	EVT	EVT
Discovery		ND	ND	ND		ND	ND	ND	EVT		ND	EVT	EVT	ND			ND	ND	ND	EVT	EVT
		ND	ND	ND	EVT	ND	ND	ND	EVT		ND	EVT	EVT	ND			ND	ND	ND	EVT	EVT
		ND	ND	ND	EVT	ND	ND	ND	EVT	EVT	ND	EVT	EVT	ND	EVT		ND	ND	ND	EVT	EVT
		ND	ND	ND	EVT	ND	ND	ND	EVT	EVT	ND	ND	EVT	ND	EVT		ND	ND	ND	EVT	EVT
												>50
>120
		Partnered Pipeline			Unpartnered Pipeline		Equity Pipeline			Bridges Pipeline
PAGE 11					1 Also includes Women's Health, Respiratory projects

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

Status as of 30 June 2023

*FDA clearance of IND (https://www.carricktherapeutics.com/news-media/press-releases/detail/20/carrick-therapeutics-announces-u-s-fda-clearance-of-ind)

>140 co-owned projects leading to massive milestone cascade¹

20-yr milestones pipeline

PanOmics-driven drug discovery for deep disease understanding and effective therapies

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PanOmics

Pan(Greek pan means all)

Omics(various disciplines in biology end in the suffix-omics)

any of several areas of biological study defined by the investigation of the entire complement of a specific type of biomolecule or the totality of a molecular process within an organism.

Examples of well-established fields include genomics, transcriptomics, proteomics, and metabolomics.

Paving the way to a better disease understanding

PanOmics: Unique platform for data generation, aggregation, integration and analysis

From	To	Others
Defining diseases based on similar symptoms	PanOmics mapping to define causes and drivers of diseases
One drug fits all	Right drug, right dose, right patient
Clinical attrition due to missing efficacy endpoints	PanOmics-based clinical stratification
Late & inaccurate diagnosis	Early and precise diagnosis
Intervention in symptomatic patients	Preventing disease by monitoring risk factors

Precision medicine is the only path to better outcomes

Leading A.I./M.L. driven drug discovery & development platforms

• User friendly A.I./M.L. driven multi-omics analysis platform • Exceeding industry standards in e.g. predicting drug safety (e.g.: liver injury 86% vs. 70%)

• One of the largest and most sophisticated iPSC platforms for drug discovery in the industry
• First IND in clinical development; large pipeline evolving

Molecular disease understanding for higher Probability of Success (PoS)

Overview of PanOmics-driven drug discovery

Changing the healthcare paradigm with PanOmics

From symptomatic treatments to data-driven healthcare

IPSCs "off-the-shelf" cell therapy based on inducedpluripotent stem cells

iPSCs

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Cell therapy is a treatment in which viable cells (autologous, allogeneic, iPSC-derived), are injected, grafted or implanted into a patient in order to improve or cure a disease.

Induced pluripotent stem cells (iPSCs) are a type of stem cell that can be generated directly from a somatic cell. iPSC technology was pioneered by Shinya Yamanaka's lab. He was awarded the 2012 nobel prize for the discovery that mature cells can be reprogrammed to become pluripotent.

iPSC-based cell therapies will reach more patients than ever before

Next generation off-the-shelf cell therapy

From	To			Autologous
Availability Patient-by-patient		Availability for large patient populations	iPSC approach	approaches
Manufacturing dose-by-dose		Manufacturing large scale
Tens of doses per month		Thousands of doses
Expensive	Affordable
Autologous products		Simplified manufacturing Off-the-shelf product

From humans for humans

iPSC-based drug discovery and off-the-shelf cell therapy

Off-the-shelf approach will revolutionise cell therapy applications

Benefit of manufacturing process for iPSC-based therapeutics

iPSC-based off-the-shelf therapeutics

• Reduced manufacturing complexity: Patient is not part of manufacturing process
• Unlimited starting material
• Versatile & high-fidelity gene editing
• Consistent quality of final product
• On demand product available to patients
• Broad applicability: Suitable for multiple cell types & disease areas

A comprehensive portfolio of early iPSC-based cell therapy assets

Off-the-shelf cell therapy programmes

Field	Programme/ Project	Disease area	Protocol	Pre-clinical research		IND / Phase I	iPSC-derived cell types
Anti tumour therapy	iNK	Oncology		1			iNK	Natural
	iM	Oncology						killer cells
	Pharma γδ iT partner	Oncology	Undisclosed				iT	αβ and γδ T cells
	αβ iT	Oncology					iM	Macrophages
							iBeta	Pancreatic islets
Diabetes	E.iBeta (Device)	Diabetes					iCM	Cardiomyocytes
	E.iBeta (Engineered)	Diabetes					iRPE	Retinal pigment
Other	iCM	Heart failure						epithelium cells
	iRPE, iPR	Ophthalmology					iPR	Photoreceptors
	…
	Unpartnered, open for new business opportunities Partnered

Just – Evotec Biologics Artificial Intelligence and continuous manufacturing for better access to biologics

Paradigm shift in biologics

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Just – Evotec Biologics Paradigm shift in biologics

At Just – Evotec Biologics, we design and apply innovative technologies to dramatically expand global access to biotherapeutics by …

• … selecting the best therapeutic candidate via A.I./M.L./ Automation
• … implementing "Lights-out" fully-continuous manufacturing … improving quality of products manufactured … reducing the environmental impact with smaller

footprint facilities

The paradigm shift is already in full motion

Accelerating the paradigm shift in biologics

Our purpose is to contribute to better access

Access for all

Disrupting the industry with flexible and agile continuous manufacturing

J.POD® – The physical expression of agility

Highly intensified processing yields to lowest possible COGs

The key to start the paradigm shift

Just – Evotec Biologics – Sales order book approaching € 1 bn

Key achievements 2021-2023

Global access with global network

Cloning of J.POD facilities – Status and timing

J.PLANT Seattle, Washington, US

• 500L SUB
• Phase I Clinical
• Over 34 runs
• 100% success years

J.POD® Redmond, Washington, US

• 500L & 1,000L SUB
• Phase I Commercial
• First cGMP run Oct 2021

"S.POD" – Cloning of J.POD® facilities (option)

• 100% Sandoz-owned
• Just-Evotec Biologics "enabled" from design to technology

J.POD® Toulouse, France, EU

• 500L & 1,000L SUB
• Phase I Commercial
• Groundbreaking 2022
• Expected CQV 2024

SUB = Single Use Bioreactor

End-to-End Shared R&D – Integrated business-tobusiness platform for increased probability of success from target to the clinic

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• •Still today, a new medicine takes an average of 10-15 years and more than US\$ 2.5 billion, before reaching patients
• •Average peak sales per drug are in decline, internal rates of return (IRR) per R&D dollar spent are too low
• •We provide what the industry really needs: Convergent technologies and modality agnostic solutions result in a cost-effective and rapid progression with higher Probabilities of Success (PoS) of projects
• •By offering access to our End-to-End Shared R&D platform, Evotec operates as a B2B biotech platform for all players in the industry

Unique knowledge, technology, A.I./M.L. and process excellence

An industry leading platform

From			To		Others
falling IRRs	Higher R&D cost with		Improve efficiency with speed & quality
late-stage pipelines	High cost of failures from		Fully integrated platform incl. early precision & efficiency
Fixed cost focus			Variable cost
model	Traditional in-house		Sharing & open innovation model
	Incompletely unqualified screening of molecules		Disease understanding & multi-modality

Comprehensive integrated research and development

Illustrative functional capabilities of the End-to-End shared R&D continuum

Target ID / Validation	Hit identification	Lead optimisation	Pre-clinical / IND1	Phases I – III	Approval	Market
• Disease area expertise • Exploratory biology • Target validation • Assay Development	• Structural biology • Screening, virtual screening • Molecular design, chemistry	• Molecular optimisation • PK/PD, ADME, PK • Safety, biomarkers • Development readiness	• Regulatory Toxicology • Formulation science • Process development and manufacture	• Translational biology, biomarkers • Clinical development support • API manufacturing, product for clinical testing • Drug Product	• Commercial API and drug product manufacturing

• Comprehensive "under ONE" roof offering of technologies, experience and expertise
• Operational excellence and A.I./M.L.-driven predictive science

The power of trust, excellence & expertise in collaboration

Sharing as basis for success

Serving all key parts of the industry

Central infrastructure for partners with different missions

Partners	Collaboration priorities	Examples
>40 Pharma	Flexible access to technologies and assets
>400 Biotech	Integrated drug discovery & development processes
>30 Academia	Funding & operations for industrial translation
>10 Foundations	Data pooling & advanced analytics of patient data

Collaborative model for efficiency in drug discovery

Platforms & technologies and network for more precision and efficiency

Seattle (US) Dedicated to biologics

J.POD® Redmond (US) Biologics development & cGMP commercial manufacturing

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Branford site (US) Dedicated Sample Management Facility

Princeton (US) Gertrude B. Elion Campus, dedicated to cell & protein production

Framingham (US) US site of the ADME-Tox capabilities Alderley Park (UK) Focused on antimicrobial and infectious disease; Cyprotex – global leader in DMPK/ADME-tox

Abingdon (UK)

Dorothy Crowfoot Hodgkin Campus, integrated drug discovery & development

Lyon (FR) Anti-infective drug discovery; BSL 3 laboratory set up

Toulouse (FR)

drug discovery; 2nd

J.POD®

Campus Curie – Oncology & immuno-oncology centre of excellence; integrated

Verona (IT) Campus Levi-Montalcini Integrated drug discovery & development

Vienna (AU) Dedicated to gene therapy

Manfred Eigen Campus – A major hub for integrated drug discovery including variety of HTS screening activities; home of neuroscience experts & the basis

Hamburg (GER – HQ)

for leading end-to-end iPSC platform

Modena (IT) Cell therapy manufacturing

Munich (GER) Dedicated to unrivalled proteomics and bioinformatics; unique mass spectrometrybased "omics" platform

Göttingen (GER) Manfred Eigen Campus – home of multi-omics data analysis PanHunter, E.MPD & iPSC-derived cells

Cologne (GER) Induced pluripotent stem cell (iPSC) technology

Halle (GER) Centre of excellence for rare disease drug substance manufacturing

Business / Financials / ESG

Partner satisfaction is basis for long-term success

Attraction, Extension, Retention

Extension No. of customers >€ 1 m revenues

Integrated drug discovery & development to offer yields increasing "share of wallet"

Structural Retention ≥90% Customer relation rate

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

More than 10 years with more than 20% annual growth

Financial overview (2010-today)

• Highly profitable and capital efficient
• Revenue CAGR >20%
• R&D CAGR >30%
• Adj. EBITDA CAGR >35%

Expertise and sharing lead to steep learning curves

Corporate overview

• Founded: 1993 in Hamburg, Germany
• 17 Sites in Europe & US
• Highest density of PhDs in the industry1
• Profitable growth and creation of large royalty pool

• 10 proprietary state-ofthe-art fully integrated technologies / platforms

Resilient with strong comeback in H2

Guidance 2023

	Guidance 20234	YE 2022	Comments
Group revenues (at constant fx-rates1 )	€ 750– 790 m (€ 765 – 805 m)	€ 751.2 m	At least stable despite approx. € 70 m one-off effect
Unpartnered R&D2	€ 60 – 70 m	€ 69.9 m	Stable
Adjusted EBITDA3 (at constant fx-rates1 )	€ 60 – 80 m (€ 70 – 90 m)	€ 101.0 m3	Mitigation of large parts of approx. € 90 m one-off effect

Approx. € 200 m continued investments for enabling and supporting growth (e.g., capacity expansion in biologics manufacturing, CO2e reduction, iPSC, E.MPD, …)

Our mid-term aspirations are unchanged

2020-2025 estimated key performance indicator goals1

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

Aligned with UN SDGs1, sustainable thinking is holistic and ensures long-term success

Executing to accelerate growth along Action Plan 2025

Selected major newsflow 2023

PanOmics	• New strategic partnerships and expansions of co-owned alliances • New clinical trial initiations, e.g. Bayer • Significant progress of later stage co-owned pipeline
iPSCs	• New strategic partnerships, e.g., Janssen • Progression of partnered cell therapy assets, e.g., Sernova • Expansion of internal portfolio of cell therapy assets
Just – Evotec Biologics	• Significant expansion of order book for J.POD Redmond, WA (US) Progression of construction J.POD Toulouse, France (EU)1 • • Evaluation of global network of J.PODs
End-to-End Shared R&D	• Conclude post-cyber business recovery - on track for AP 2025 • Integration of Evotec DS Germany
Group	• Science-based targets in place aligned with 1.5°C goal Highly impactful contribution to UN SDG 32 • • Spin-Offs and investments along Building Blocks of AP 2025

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.

"Evotec inside" – further progressing

Selected pipeline events within next 12-24 months

Phase III & registration (CHN) JingXin in insomnia (EVT201)

Phase I data with BMS in CNS (EVT8683)

Phase I data with Kazia in Oncology (EVT801)

Phase I data in Chikungunya virus (EVT894)

Phase I initiations with kidney diseases with other partners

Phase I initiation with BMS in CNS

Phase I initiation with BMS in Oncology

Phase I initiation with Sernova in Diabetes

Progress of multiple co-owned equity companies (not disclosed) (e.g., Topas, …)

Upcoming important dates

Financial calendar 2023

Quarterly Statement 9M 2023	08 November 2023
2nd Capital Markets Day 2023	15 November 2023
Jefferies Healthcare Conference, London	16 November 2023
German Equity Forum, Frankfurt/Main	27 November 2023
Berenberg European Conference	05/06 December 2023

Appendix

Experienced management team with long-term mission

The management team

Experience

• 2000-2009: CFO of Intercell AG
• 1998-2000: Director Federation of Austrian Industries
• 1995-1998: Senior Management Consultant at McKinsey

Werner Lanthaler

CEO (since 2009)

Laetitia Rouxel CFO (since April 2023)

Experience

• 2021-2023: Global CFO of Wavin
• 2018-2021: Divisional CFO, SVP M&A of Coty
• 1996-2018: Different finance functions & leadership roles at Pfizer, J&J and Danone

Matthias Evers

CBO (since 2022)

Experience

• 2002-2022: McKinsey & Company
• Significant exposure to the U.S., China, India, and Europe, where he supported R&D organisations to excel at innovation
• Areas of expertise: convergence of biology and technology
• Advisor and speaker at highprofile science events

Craig Johnstone COO (since 2019)

Experience

• 2015: Directeur General and Site Head, Evotec (France) SAS
• 2012-2017: SVP Drug Discovery and Innovation Efficiency; Global Head, Integrated Drug Discovery, Evotec
• 1994-2012: Project, function, & leadership roles at AstraZeneca, Prosidion and Rapier Research
• Fellow of the Royal Society of Chemistry and Chartered Chemist, BSc in Chemistry and a PhD in organic and organometallic synthesis and accredited LEAN Sigma Black Belt

Cord Dohrmann CSO (since 2010)

Experience

• 1999-2010: Leading DeveloGen from a start-up to an internationally recognised metabolic disease company
• 20 years in biomedical research at leading academic institutions and in the biotech industry
• Member of the German Science Council (Wissenschaftsrat) (since 2021)

Global view and deep experience for best governance

The Supervisory Board

• Since 2014 Member of Evotec's Supervisory Board (2021 Chairperson)
• Since 2008, CMO of UCB S.A., Brussels (Belgium)
• 2001-2009, Member of the Executive Board of Schwarz Pharma AG, responsible for global R&D

• Since 2019 Member of Evotec's

Management Board of Evotec

Oxford Asymmetry International

which was merged with Evotec

• 2007-2018, COO of Evotec • 1991 Founding chemist of

Supervisory Board • 2018, Retired from the

plc (OAI),

Iris Löw-Friedrich CMO – UCB S.A.

Roland Sackers CFO & Managing Director QIAGEN N.V.

Mario Polywka BioSystems in 2000 Former COO Evotec SE

Elaine Sullivan CEO Keltic Pharma Therarpeutics Ltd.

• Since 2019 Member of the Supervisory Board (2021 Vice Chair Person) and Chairman of the Audit Committee of Evotec
• Since 2004, CFO of QIAGEN N.V.
• 1999-2004, Auditor at Arthur Andersen

Camilla Macapili Languille Head of Life Sciences Mubadala Investment Company

• Since 2022 Member of Evotec's Supervisory Board
• Since 2013, Different positions at Mubadala Investment Company, (UAE)
• 2011-2013, Senior Manager Mergers & Acquisitions Daiwa Capital Advisory Partners (France)
• 2007-2010: Investment Manager at Virgin Management Ltd. (UK)

• 2005-2007, Analyst at JPMorgan Securities, Inc. (UK/USA)

• Since 2015 Member of Evotec's Supervisory Board

• 2015-2019, CEO of Carrick Therapeutics Ltd,
• 2011-2014, VP Global External R&D at Eli Lilly & Company, Inc
• 1995-2010, Various positions in the area of drug discovery and development at AstraZeneca

Constanze Ulmer-Eilfort Partner at Peters,

• Since 2021 Member of Evotec's Supervisory Board
• Since 2000, Equity Partner at Baker McKenzie
• Since 2017, Member of the Global Executive Committee of Baker McKenzie
• S4DX GmbH, Chair of the Advisory Committee

Schönberger & Partner

PAGE 52

Strong Sustainability Governance in place

Supervisory Board assumes responsibility for sustainability

Our promise ESG Goals 2023

Approve and implement the SBTi initiative action plan at all Evotec sites and invest one percent of 2022 revenues to achieve SBTi targets

Conduct engagement survey by mid 2023 Define and communicate a management plan for 2024 and beyond based on results of engagement survey

Engage sustainability champions at each site to create governance structures fostering environmental and social goals as well as site specific sustainability projects

Approx. 8% revenue one-off impact due to cyber-attack

Revenue guidance bridge

Manageable one-off effects and reflecting market sentiment

• Revenues (net), missed in Q2 2023, representing ~8% of initial revenue guidance
• Missed revenues largely related to development processes – awaiting remaining re-audits in August
• Visible partnering pipeline strong but seeing buyers' dynamics in more service-oriented business
• Earlier and better than anticipated effects from advanced payments mitigating parts of

Embracing the moment to learn, grow, and become even more efficient

Better, safer, more agile

Value Protection Programme (VPP) 1

Optimised capital allocation 2

Strategic review 3

Bouncing back better

• Securing liquidity and profitability
• Improving processes and systems
• Improving GMP compliance
• Preparing focused ERP build-out in UK and J.POD Toulouse (EU)
• Continued investments in Focus Areas for technology leadership

Identified savings potential of € 25 m in 2023

Offsetting one-off burdens

Adj. EBITDA guidance bridge

Better, safer & more efficient

• Net impact of one-off costs to re-build business and missed revenues of € 80 – 85 m
• Biggest impact from missing revenues of Development / API manufacturing business
• Value Protection Plan to build a leaner & safer organisation resulting in recurring savings as of 2024
• Adj. EBITDA guidance includes one-off items of € ~90 m

How to get there … Mid-term adj. EBITDA bridge

Well-balanced cascade

• Average annual growth of Base Business adj. EBITDA of 15% due to
  • − Robust top-line growth
  • − Operating leverage
  • − Efficiency (Value Protection Programme)
• Incremental income from Milestones, Upfronts, Licenses of € 45 m due to increasing breadth and depth of pipeline
• Accelerated growth of Just – Evotec Biologics

EVOequity complements co-owning strategy

Operational VC model – diversified portfolio with multiple shots on goal

At Equity Holding (≥20%) or significant influence

Minority Shareholdings (<20%)

BRIDGEs

Shareholders supporting sustainable growth

Shareholder structure1

Volker Braun SVP Head of Global Investor Relations & ESG

+49 (0) 40 560 81-775 +49 (0) 151 1940 5058 (m) volker.braun@evotec.com