Evotec SE — Investor Presentation 2024

Jun 1, 2024

General company presentation

Evotec SE, Company presentation, June 2024

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
• Shared R&D 2
• Just Evotec Biologics 3
• Financials 4

"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

Accelerating medicines that matter

About us

4,000++ scientists empowering our partners

Across all disciplines and disease areas from target to commercial manufacturing

Co-creating pipelines

Leveraging our assets, targets or proprietary platforms for licensing, co-development or potential NewCo creation, frequently combining with Partners' programs, and ideas

R&D Biotech that offers accelerated, high-value pipeline co-creation, and R&D solutions

Performance – "Beyond FTEs"

Collaborating with "end in mind", result-driven partnership models

Track record – highest quality, most capital-efficient execution

State-of-the-art services as core offering for partners

Scientific AND operational excellence are both essential for our success

Benefits of increased emphasis on Operational excellence

Shared R&D – From target to patient

Discovery of next generation drugs with higher efficacy and probability of success. PanOmics approach for molecular disease understanding and iPSC disease modeling platform. In-vitro & in-silico prediction of human exposure, clinical efficacy and toxicological outcome. Design and execution of best strategies for rapid entry into first in human studies.

Just – Evotec Biologics – Global access to biotherapeutics

Design and application of innovative technologies from discovery to commercial supply to dramatically expand global access to biotherapeutics. Selecting best therapeutic candidate via A.I./M.L./ Automation. Implementation of "Lights-out" fully-continuous manufacturing. Reduction of environmental impact.

A shared economy model in R&D as basis for success

A stable foundation

Sustainable growth enabled by commitment, culture, values & people

Sustainability at Evotec

1) These slides contain 2023 data.

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		Jingxin																			SK Bio
	PhIII
	PhII					Carrick	Carrick	Carrick	Carrick		Sernova				Topas
Clinical		Centrexion									Bayer					Topas
PhI		BMS				Kazia		Exscientia	Immunitas						Conba	Exscientia					NIH
		ND	ND			ND	ND	EVT	EVT		ND	EVT	EVT
		ND	ND			ND	ND	EVT	EVT		ND	EVT	EVT
		ND	ND			ND	ND	EVT	EVT		ND	EVT	EVT			EVT
		ND	ND			ND	ND	ND	EVT		ND	EVT	EVT			EVT				EVT	EVT
		ND	ND			ND	ND	ND	EVT		ND	EVT	EVT			EVT				EVT	EVT
Pre-clinical &		ND	ND			ND	ND	ND	EVT	EVT	ND	EVT	EVT			EVT				EVT	EVT
Discovery		ND	ND			ND	ND	ND	EVT	EVT	ND	EVT	EVT			EVT			ND	EVT	EVT
		ND	ND	ND	EVT	ND	ND	ND	EVT	EVT	ND	ND	EVT			EVT	ND	ND	ND	EVT	EVT
		ND	ND	ND	EVT	ND	ND	ND	EVT	EVT	ND	ND	EVT	EVT	ND	EVT	ND	ND	ND	EVT	EVT
		ND	ND	ND	EVT	ND	ND	ND	EVT	EVT	ND	ND	EVT	EVT	ND	EVT	ND	ND	ND	EVT	EVT
												>50
	>120
	Partnered Pipeline Unpartnered Pipeline Equity Pipeline Bridges Pipeline
PAGE 9	1 Also includes Women's Health, Respiratory projects

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 31 December 2023

Shared R&D – Discovery of next generation drugs with higher efficacy and probability of success

Comprehensive integrated research and development

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

From Target…					…to Patient
• PanOmics • Disease area expertise • Exploratory biology • Target validation • Assay Development	• E.MPD • Structural biology • Screening, virtual screening • Molecular design, chemistry	• E.IPSC • Molecular optimisation • PK/PD, ADME, PK • Safety, biomarkers • Development readiness	• Predictive safety • Formulation science • Process development and manufacture	• EVOgnostics • 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

Broadest set of value adding capabilities

Unique integrated offering

					A.I.-driven Biotech							iPSC DD service			CROs
Evotec-relevant capabilities	Company A	Company B	Company C	Company D	Company E	Company F	Company G	Company H	Company I	Company A	Company B	Company C	Company D	Company A	Company B	Company C	Evotec
Molecular Patient Databases
Multi-Omics DD
iPSC drug discovery
Target ID/validation
Hit ID
Lead optimization
Wet lab capabilities
TA expertise
Preclinical development
Clinical development

Unique starting points with Molecular Patient Databases

Level of offering High Medium Low No offering

PAGE 12

AI: Artificial Intelligence; ML: Machine Learning; TAs: Therapeutic Areas; MPD: Molecular Patient Database; DD: Drug Discovery; Hit ID: Hit identification | Source: Company Websites NOTE: Heatmap built based on capability strength based on publicly disclosed data

It all starts with precise patient data – From human to human

Portfolio of Evotec Molecular Patient Databases (E.MPD)

A.I.-powered insights change the way we work

Overview of PanOmics-driven drug discovery

Changing the healthcare paradigm with PanOmics

From symptomatic treatments to data-driven healthcare

Just – Evotec Biologics Design and application of innovative technologies from discovery to commercial supply to dramatically expand global access to biotherapeutics

Paradigm shift in biologics

JUST is addressing global access by alleviating major pain points

Key advantages of biologics manufacturing with Just – Evotec Biologics

Time to set up facility, years

Proximity to key markets

J.POD® technology can be quickly established in other countries/regions

Just – Evotec Biologics carves the path for a paradigm shift in biologics manufacturing through its continuous manufacturing approach

New options to cure Rare Diseases

Underserved indications

Our continuous platform will even further excel with complex biologics

Trends in global biologics pipelines

Just – Evotec Biologics is building markets faster than expected

Key achievements 2021-2024

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

J.POD® Redmond, Washington, US

• 500L & 1,000L SUB
• Current: Phase I Commercial Ready
• First cGMP run Oct 2021
• Capacity: 2,5 t/yr

Cloning of J.POD® facilities (option)

Just-Evotec Biologics "enables" from facility design to technology

J.POD® Toulouse, France, EU

• 500L & 1,000L SUB
• Phase I Commercial
• Groundbreaking 2022, Expected CQV 2025
• Capacity: 2,5 t/yr

Financials

More than 10 years with more than 20% annual growth

Financial overview (2010-today)

Segment reporting reflecting a leaner organisational structure

New reporting structure as of Q1 2024 – accountability, efficiency, visibility and simplicity

• Shared R&D: ONE end-to-end R&D platform with > 500 partners
• Minimal intersegment reporting reducing complexities and redundancies
• Just Evotec Biologics: Increased visibility for paradigm shifting technology

Continued growth despite multiple challenges

Condensed income statement 2023 – Evotec SE and subsidiaries

in € m1	2023	2022	Change	Comment
Revenues of which Just – Evotec Biologics (JEB)	781.4 108.4	751.4 51.3	4% >110%	• Cyber-related impact (especially Development and Cyprotex) • Challenging markets (esp. biotech) • Sandoz tech partnership
Gross margin Gross margin excl. JEB	22.6% 27.0%	23.2% 31.1%	(60) base pts. (410) base pts.	Cyber, market, less MS, Ramp-up of capacity at JEB
Unpartnered R&D expense	64.8	70.2	(8)%	Investing into the future
Adjusted Group EBITDA2	66.4	101.7	(34)%	Impacted by internal cyber-related costs
Adjusted Group EBITDA excl. JEB2	72.4	138.3	(47)%	Majority of cyber-related costs accounted for within EVT Execute
Scope 1 & 2 emissions (tons CO e) 2	27,480	38,549	(29)%	Growing greener

1 Differences may occur due to rounding

2 Adjusted EBITDA excludes changes of contingent considerations, income from bargain purchase and impairments on goodwill, other intangible and tangible assets as well as the total non-operating result

Paradigm-shifting platforms to remain key growth drivers

Revenue distribution 2015 versus 9M 2023

Growing faster than market growth, more profitable

Guidance 2024

	Guidance 2024	YE 2023	Comment
Group revenues	Low double digit percentage growth	€ 781.4 m	Navigating in a challenging market with differentiated offering
R&D1	Mid-single to low double digit percentage reduction	€ 64.8 m	Long-term expansion of pipeline / Focus on first-in class platforms and project
Adjusted EBITDA2	Mid double digit percentage growth	€ 66.4 m	At least doubling rate of revenue growth / upside from efficiency measures and improving demand

€ 150-200 m continued investment programme for enabling and supporting growth

Refined guidance to be assessed together with new CEO – Update planned for H1 results

Reset will be reflected in 2025 & beyond

Our journey

"Evotec inside" – further progressing

Selected pipeline events within next 12-24 months

Phase II data with BMS in CNS (EVT8683)

Phase II initiation with Bayer in Kidney Disease

Phase I data with Kazia in Oncology (EVT801)

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

Phase I data in Chikungunya virus (EVT894)

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

Upcoming important dates

Financial calendar 2024

In a nutshell …

Key takeaways

Resetting for profitable growth in 2024

Strong demand for core offerings double digit top-line growth

Creating a right-sized & efficient organisation

Putting an even stronger team in place

Appendix

Experienced management team with long-term mission

The management team

Experience

• 2017 2022 CEO of Mediq
• 2005 2017 Various leadership positions at Linde Group, since 2007 member of the Group Executive Committee & Head of Global Business Unit Healthcare
• 2000 2005 McKinsey &

Christian Wojczewski CEO (as of 1 July 2024)

Company Laetitia Rouxel CFO (since 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

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

Craig Johnstone COO (since 2019)

Experience

• 2012-2019: Various leadership roles at 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

Aurélie Dalbiez CPO (as of 15 June 2024)

Experience

• 2021 2024 Chief Human Resources Officer at Corbion
• Prior to Corbion, various leadership positions at Lonza AG and Novartis AG
• More than 25 years of experience in international HR leadership

Cord Dohrmann CSO (since 2010)

Global view and deep experience for best governance

Independent and diverse 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

Supervisory Board

of Weatherden Ltd.

Development at UCB

Iris Löw-Friedrich CMO – UCB S.A.

Roland Sackers CFO & Managing Director QIAGEN N.V.

Wesley Wheeler

Operating Advisor to KKR, Madison Dearborn Partners and Edgewater Capital

Duncan McHale Director of Weatherden Ltd.

• 2008-2011 AstraZeneca, most recent as Vice President Personalized Healthcare and Biomarkers

• 1999-2007 Pfizer, most recent position Executive Director

• 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 2024 Member of Evotec's Supervisory Board

• 2019-2023 President of UPS Healthcare
• 2011-2019 CEO & Director of Marken
• 2007-2010 CEO & Director of Patheon
• 2003-2007 President of Valeant Pharmaceuticals International
• 2002-2003 CEO of DSM Pharmaceuticals
• 1989-2002 SVP Manufacturing & Supply GlaxoSmithKline

Constanze Ulmer-Eilfort Partner at Peters, Schönberger & Partner

• 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

Strong Sustainability Governance in place

Supervisory Board assumes responsibility for sustainability

Sustainability at Evotec

Selected ESG-KPIs

EVOequity portfolio making progress

Operational VC model – diversified portfolio with multiple shots on goal

• Breakpoint Therapeutics Nomination of first preclinical development candidate, BTX-011
• Tubulis Closing of upsized € 128 m Series B2 financing round
• Carrick Therapeutics – First patient dosed in Phase 1b/2 clinical trial of Samuraciclib in combination with Vepdegestrant
• Topas Therapeutics – Initiation of Phase 2a clinical trial for TPM502 in Celiac Disease
• Tubulis Strategic license agreement with Bristol Myers Squibb to develop next generation ADCs

Shareholders supporting sustainable growth

Shareholder structure¹

Volker Braun EVP Global Head of Investor Relations & ESG

+49 (0) 40 228 999 338 (direct) +49 (0) 151 1940 5058 (mobile) volker.braun@evotec.com