Wockhardt Ltd — Investor Presentation 2022

Mar 8, 2022

8[th] March, 2022

Ref. No.: WOCK/SEC/SE/2021-22/136

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BSE Limited Corporate Relations Department P J Towers Dalal Street Mumbai - 400 001

Scrip Code: 532300

National Stock Exchange of India Limited Exchange Plaza Bandra Kurla Complex Bandra (E) Mumbai - 400 051 NSE Symbol: WOCKPHARMA

Dear Sir/Madam,

Sub: Investor Presentation.

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose herewith for your information a copy of the latest investor presentation of the Company.

You are requested to kindly take the same on record.

Thanking you,

for Wockhardt Limited

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Debashis Dey

Company Secretary

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Project Liberty

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Opportunity to invest in US pharma business

Investors Presentation 2022

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Safe harbor

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The Wockhardt Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, a rights issue of its equity shares and has filed a Letter of Offer. The Letter of Offer is available on the website of the SEBI at https://www.sebi.gov.in, the website of BSE at https://www.bseindia.com, the website of NSE at https://www.nseindia.com, the website of the Lead Manager at www.ambit.co and the website of the registrar to the Issue at www.linkintime.co.in. Investors should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the Letter of Offer, including the section titled “Risk Factors”.”

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Snapshot of Wockhardt

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Net Sales Revenues (9M FY22) INR 2,575 Cr Profit after tax (9M FY22) INR 32 Cr Net Debt-Equity Ratio 0.34x1 International business >80%2 EBITDA (9M FY22) INR 331 Cr	12 manufacturing facilities across world Over 520 scientists with over 80 PhD’s; Drug Discovery team > 150 associates ~ 5,400 employees3 globally with over 20% employees4 based outside India 3 R&D centres one each in India, UK, USA 3,214 patents filed; 793 patents granted

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Pharmaceuticals & API	Vaccines	Diabetes Biosimilars

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Novel Antibiotics

• 1 - 9M FY 21-22. Excluding promoter debt & preference capital & net of Cash & cash equivalents and other Bank balances

• 2 - For the year FY 2020-21

• 3- Includes approximately 1,500 contract employees

• 4- For the 3,900 employees on payroll of Company

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Financial highlights

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Net Sales Revenues in INR Cr. EBITDA in INR Cr.
24% YOY
growth
331
2,844 2,708 2,575 245
-47
FY 19-20 FY 20-21 9M FY 21-22
FY 19-20 FY 20-21 9M FY 21-22
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PAT (Continued operations) after exceptional items in INR Cr.
32
-138
-296
FY 19-20 FY 20-21 9M FY 21-22
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Reduction in long term debts in INR Cr.
2,045
1,259
1,084
Mar-20 Mar-21 Dec-21
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*Excluding promoter debt & preference capital

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Net Debt : Equity @ 0.34*

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Total Equity increased by >INR 700 Cr. ; Total Borrowings Reduction by > INR 1,000 Cr.

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Total Equity INR Cr.
3,760 3,774
3,057
FY 19-20 FY 20-21 9M FY 21-22
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Cash & cash equivalents and other Bank balances INR Cr.
292
285
268
FY 19-20 FY 20-21 9M FY 21-22
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Total Borrowings INR Cr.
2,632
1,853 1,569
FY 19-20 FY 20-21 9M FY 21-22
Net Debt-Equity Ratio
0.77
0.42 0.34
FY 19-20 FY 20-21 9M FY 21-22
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*9M FY 21-22. Excluding promoter debt & preference capital & net of Cash & cash equivalents and other Bank balances

Future Growth drivers

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5 years growth drivers

1 Novel drug discovery

2 years growth drivers

2 Diabetes Biosimilars in US & Europe

1 Vaccines - Focus on COVID-19 Vaccines

2 Diabetes Biosimilars for Emerging markets

3

Re-organized business structure & leadership

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1 Vaccines - Focus on COVID-19 Vaccines

Growth drivers for next 2 years

Global CMO Flexibility of supplies from existing India & UK sites

Supply to UK Govt. >100 Mn Doses supplied Fill-finish supply of Astra Zeneca / University of Oxford COVID-19 Vaccine to UK Govt.

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Growth drivers for next 2 years

2 Diabetes Biosimilars for Emerging markets

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Focus on Recombinant Human Insulin and Insulin Glargine in emerging markets

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Manufacturing infrastructure ready

Registered in emerging markets Integrated end to end capabilities

API + Formulation > 25 markets Development to marketing

Low cost manufacturing

Under registration in 12 countries

Own patented device

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Growth drivers for next 2 years:

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3 Re-organized business structure & leadership
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A Renew leadership
B Focus markets
Emerging
UK India USA
markets
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C
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Wockhardt selected by Indian Government’s Production Linked Incentive (PLI) Scheme

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Growth drivers for next 5 years

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1 Novel drug discovery – focus on Antibiotics against resistant infections
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6
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QIDP* grant from US FDA for Wockhardt’s 6 novel antibiotics

WCK 5222 (Cephalosporin + β-lactam enhancer) - Destination therapy for XDR Gram Negative Acinetobacter & Pseudomonas

Pre-clinical Phase I Phase II[1] Global Phase III Followed by C o m p l e t e d Initiated Regulatory filing Planned completion by end of CY2023[2]

*- Qualified Infectious Disease Product (QIDP) status granted by US FDA eligible for fast track development process and priority review. QIDP status also grants five year extension to the market exclusivity in the United States

1.Phase II: Waiver

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2.Based on management estimates

WCK 5222 differentiation

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Activity against resistant infection		Pipeline Drugs	Pipeline Drugs	Pipeline Drugs							Approved Drugs	Approved Drugs	Approved Drugs	Approved Drugs
Organism/ Resistance Mech.		WCK 52221	Product 1	Product 2			Product 3			Product 4	Product 5	Product 6		Product 7		Product 8	Product 9
K. pneumoniae (ESβL)
K. pneumoniae (KPC)
K. pneumoniae (MβL)
E. coli(PBP3 insert+ESBL/Class C)							MIC		In vivo
E. coli(MβL± PBP3 Insert)							MIC		In vivo
Enterobacter (AmpC)
Proteus (ESβL, Class C)
P. aeruginosa(AmpC + oprD +Efflux)
P. aeruginosa (Oxa, oprD + Efflux)
P. aeruginosa (MβL)
A. baumannii(CHDL, OXA)
											Most
_S. maltophilia_MDR/XDR							MIC		In vivo		Isolates
											Resistant
		Most Isolates	Susceptible	Variable	Susceptibility					Most	Isolates Resistant		Sub-optimal Perfomance for Strains with MIC ≤ Breakpoint

1.WCK 5222: Cifepime + Zidebactam`

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Novel drug discovery pipeline – focus on Antibiotics against resistant infections

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Robust product pipeline Development Stage Target market 1 Emrok IV / Emrok O Launched in India Emerging Markets Partnered with 2 WCK 4873 Phase III Emerging Markets Jemincare for Greater China 3 WCK 4282 Phase III Global 4 WCK 6777 Phase I US

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4
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Growth drivers for next 5 years

2 Diabetes Biosimilars for US & Europe

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Biosimilars Portfolio of Insulin & GLP-1 analogs

1

Product

Insulin Glargine

Type Development Stage Long acting analogue GMP batches for Clinical

GMP batches for Clinical

2

Insulin Aspart

Rapid acting analogue

3 Insulin Lispro Rapid acting analogue

Product developed / Under testing Product developed / Under testing

4 Liraglutide

GLP-1 analogue

Under development

Limited competition

Manufacturing capacity ready

Integrated end to end capabilities from development to marketing

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Leadership Team

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Dr. Habil Khorakhiwala
Founder and Executive
Chairman
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Dr. Murtaza Khorakhiwala
Managing Director
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Ravi Limaye
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Ajay Sahni
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Dr. Mahesh Patel Chief Scientific Officer

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Managing Director- Wockhardt UK
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Managing Director -Wockhardt Bio AG / France / Pinewood

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Prakash Gupta Lalit Aggarwal
President-Global Supply Chain President - Manufacturing
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Dr. Vijayesh Gupta
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Pradnya Deshmukh

President – Quality & Compliance President – Global Strategy, Growth Initiatives

Renewed Leadership (Joined in last 1 year)

Robert Spina

Robert Spina Vivek Bachhawat President - North America President - Emerging Markets

Amrut Medhekar Avijit Deb Head-India Branded Business Chief Digital Officer

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Board of Directors

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Dr. Habil Khorakiwala Founder and Executive Chairman

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Mr. Aman Mehta

Independent Director

• Past Head of HSBC operations in India

• ► Over 35 years of experience

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Mr. D. S. Brar

Independent Director

• Ex-CEO & MD, Ranbaxy Laboratories

• Founder of GVK Biosciences Pvt. Ltd

• Ex-Director, RBI

• Member on Board, NIPER;

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Dr. Sanjaya Baru

Independent Director

  - Ex-Official spokesman PMO

  - ► Ex-Secretary General, FICCI

  - Ex-Director, IISS London

  - Ex-Chief Editor, The Financial Express

• Ex-Chairman,Indian MNC Council of CII

• Ex-President, FICCI

• Ex-President, IPA

• Ex-Chancellor, JHU, New Delhi

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Dr. Murtaza Khorakiwala Managing Director

• Immediate past President, International Chamber of Commerce (ICC), India

• ► Ex-President, BMA

• Member, Executive Committee, IPA

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Mrs. Tasneem Mehta

Independent Director

• Dr. Bhau Daji Lad Museum, Managing Trustee and Honorary Director

• Former Vice Chairman & Mumbai Convenor, INTACH

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Mrs. Rima Marphatia

Nominee Director

• Chief General Manager, Exim bank

• Ex-Member of RBI committee on financial Institutions

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Mr. Akhilesh Gupta Independent Director

Mr. Vinesh Kumar Jairath

Independent Director

• Ex-IAS, GoM and GoI

• Ex-Chairman, Blackstone India

• Ex- Managing Director, SICOM

• Ex-CEO, Corporate Development, Reliance Industries Limited

• Ex Principal Secretary of Industries GoM

• Advisory Council of Graduate School of Business , Stanford University

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Dr. Huzaifa Khorakiwala

Ms. Zahabiya Khorakiwala

Executive Director

Non-Executive Director

• Trustee & CEO, Wockhardt Foundation

• Trustee & CEO, Wockhardt Foundation ► Managing Director, Wockhardt

• ► Founder, The World Peacekeepers Hospitals

• 13 Honorary Doctorates & a Knighthood ► BOD, RPG Life Sciences Ltd

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Abbreviations

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• API: Active Pharmaceutical Ingredient

• CMO: Contract Manufacturing Organization

• EBITDA: Earnings before Interest, Tax, Depreciation and Amortization

• GLP-1: Glucagon like Peptide-1

• GMP: Good Manufacturing Practice

• KOL: Key Opinion Leader

• MDR: Multi Drug Resistant

• MIC: Minimum Inhibitory Concentration

• PAT: Profit After Tax

• QIDP: Qualified Infectious Disease Product

• US FDA: United States Food & Drug Administration

• XDR: Extremely Drug Resistant

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Life wins !

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Impacting Life Saving Life
Affordability Stakeholders
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