Azenta, Inc. · NASDAQ:AZTA

Azenta — Brooks Automation — Investor Day (November 2021)

28 slides from Azenta's investor day presentation, Nov 18, 2021

  1. Slide 1: Financial Overview – Driving Growth

    FinancialOverview–Driving Growth Lindon Robertson, EVP and Chief Financial Officer ​ ​

  2. Slide 2: Agenda

    A G E N D A Financial Overview – Driving Growth Strong performance track record Disciplined capital allocation Outlook: Compelling growth ahead 2 © 2021 Brooks Automation, Inc. • Proprietary Information ​ ​

  3. Slide 3: The Growth Continues — Building a Powerhouse in Life Sciences

    The Growth Continues — Building a Powerhouse in Life Sciences FY2019 FY2021 4% 17% Non-GAAP financial measures – see reconciliation tables. Based on continuing operations © 2021 Brooks Automation, Inc. • Proprietary Information 3 Employees~2,300~2,900 Customers>7,000>8,700 Adjusted EBITDA*$14M$86M G

  4. Slide 4: Significant Shareholder Value Creation

    Significant Shareholder Value Creation Brooks Enterprise Value ($M) $94,000 B $8,000 $7,000 $3,000 $6,000 $5,000 $2,000 $4,000 services $3,000 Entered Life Sciences crosses Ultra-cold services $1,000 $2,000 2010 $1,000 EV $275M over breakeven $0 22001100 20121011 201220122013 20123014 20210415 20165

  5. Slide 5: Strong Track Record of Growth

    Strong Track Record of Growth Revenue ($M) Gross Margin* ($M) EPS* ($M) 24% CAGR +8 bps +$0.79 $0.48 $514 50% $389 46% $334 $0.02 42% $(0.31) FY'19 FY'20 FY'21 FY'19 FY'20 FY'21 FY'19 FY'20 FY'21 Non-GAAP financial measures – see reconciliation tables. Based on continuing operations © 2021 Brooks Au

  6. Slide 6: Azenta Now Generating Meaningful Cash Flow

    Azenta Now Generating Meaningful Cash Flow Cash flow positive Note: OCF represents Management’s view on a stand-alone basis © 2021 Brooks Automation, Inc. • Proprietary Information 6 Operating Cash Flow (OCF) $100M Ability to invest for the future •R&D •Sales organization •Capex •M&A $0 FY'19FY'20FY

  7. Slide 7: Track Record of Organic Growth Supplemented by M&A

    Track Record of Organic Growth Supplemented by M&A Revenue $600 $ millions Acquisitions $500 $400 $300 Organic $200 $100 $-FY15 FY16 FY17 FY18 FY19 FY20 FY21 7 © 2021 Brooks Automation, Inc. • Proprietary Information 40% CAGR ​ ​

  8. Slide 8: Diverse Revenue Profile Aligned for Higher Growth

    Diverse Revenue Profile Aligned for Higher Growth 17% Sample & Repository Solutions 17% Gene Synthesis & Other 25% Consumables & Instruments 11% Sanger Sequencing 14% Ultra-Cold Automated Stores (and Service) 16% Next Gen Sequencing Contributes recurring revenue Note: Azenta revenue composition as o

  9. Slide 9: Agenda

    A G E N D A Financial Overview – Driving Growth Strong performance track record Disciplined capital allocation Outlook: Compelling growth ahead 9 © 2021 Brooks Automation, Inc. • Proprietary Information ​ ​

  10. Slide 10: Strong Balance Sheet With Cash Generation and Proceeds from Semi Divestiture

    Strong Balance Sheet With Cash Generation and Proceeds from Semi Divestiture for Investment Operational CapEx Research and Development Investment Prioritizing cash for M&A opportunities and organic investment Note: Suzhou, China building project adds 3-4 points to CAPEX % of revenue in 2020 -22 © 20

  11. Slide 11: Proven Track Record in Successful M&A

    Proven Track Record in Successful M&A: Capital 10 Years, >10 Transactions, ~$1B with ROIC Focus 11 © 2021 Brooks Automation, Inc. • Proprietary Information Acquisition Focus •Strategic fit to add value •ROIC > WACC in 5-7 years −High growth −Profit leverage ​ ​

  12. Slide 12: From Brooks to Standalone Azenta: ROIC Transformation

    From Brooks to Standalone Azenta: ROIC Transformation Life Science company Portfolio continuously repositioned for faster growth and improvement © 2021 Brooks Automation, Inc. • Proprietary Information of ROIC 12 Transformative Portfolio Actions  2016 Restructuring for profitability and BioStorage

  13. Slide 13: Agenda

    A G E N D A Financial Overview – Driving Growth Strong performance track record Disciplined capital allocation Outlook: Compelling growth ahead 13 © 2021 Brooks Automation, Inc. • Proprietary Information ​ ​

  14. Slide 14: Strategy Going Forward

    Strategy Going Forward 1 2 3 4 Extend leadership in core markets Invest for organic growth and strategic M&A Drive margin expansion Utilize balanced and disciplined capital deployment with ROIC focus 14 © 2021 Brooks Automation, Inc. • Proprietary Information ​ ​

  15. Slide 15: Achieved FY2022 Goal 1-Year Ahead of Schedule

    Achieved FY2022 Goal 1-Year Ahead of Schedule Clear Goals Operating Performance ($M) Revenue $M $800 Gross Margin 55% • FY2022 goal set in September 2019 at our last Investor Day $700 50% Gross Margin Target Range $600 • We achieved the FY2022 goal inside of FY2021 45% $500 Revenue Target 40% • Stro

  16. Slide 16: Azenta 3-Year Target Model

    Azenta 3-Year Target Model Operating Business Segments, FY 2024 Goal ~12% 16 © 2021 Brooks Automation, Inc. • Proprietary Information ROIC of EBITDA Margin ~26% Revenue CAGR FY’21-24 ~18% Life Science Services • Revenue range$520-570M • Gross Margin target52-54% • Operating expense productivity % of

  17. Slide 17: Model: Operating Leverage — A Key Driver Going Forward

    2 0 2 4 M O D E L : Operating Leverage — A Key Driver Going Forward panding EBITDA Margins… 25-27% Opex % Rev 0 FY'21 FY'22 FY'23 FY'24 Pro Forma Standalone Pro forma adjusted for standalone costs estimated by management *Non-GAAP financial measures – see reconciliation tables. © 2021 Brooks Automat

  18. Slide 18: Azenta – Strong Growth and Margin Expansion to 2024

    Azenta – Strong Growth and Margin Expansion to 2024 Revenue ($M) Adjusted EBITDA* ($M) Earnings Per Share* ~37% CAGR $200-240 ~18% CAGR ~3.5X $1.50-1.90 $800-880 $514 $86 $0.48 FY'21 FY'24E FY'21 FY'24 FY'21 FY'24E Non-GAAP financial measures – see reconciliation tables. © 2021 Brooks Automation, In

  19. Slide 19: Why Now: Building Blocks In Place to Unlock Our Full Potential

    W H Y All N O W : the Building Blocks In Place to Unlock Our Full Potential Capital Deployment Size and Scale Profitability Cash Flow We have solidified the foundation for a strong, standalone, life sciences company 19 © 2021 Brooks Automation, Inc. • Proprietary Information Strong cash flow to supp

  20. Slide 20: Key Themes You Heard Today

    K E Y T H E M E S Y O U H E A R D T O D A Y Building on Core Strengths. Forging New Growth Paths. $500M+ revenue company with growth opportunities through 2024 and beyond By 2024 Revenue $800-880M Adj. EBITDA* $200-240M EPS* $1.50-1.90 1 High-teens AND profitable growth with cash generation 2 Strong

  21. Slide 21: Parent company name and ticker change to Azenta, Inc.

    1st As of December we will change our parent company name and ticker to: Azenta, Inc. (NASDAQ: AZTA) A Unique Life Sciences Company © 2021 Brooks Automation, Inc. • Proprietary Information 21 ​ ​

  22. Slide 22: Q&A

    Q&A © 2021 Brooks Automation, Inc. • Proprietary Information ​ ​

  23. Slide 23: Appendix

    LIFE SCIENCES & AZENTA < Appendix

  24. Slide 24: Azenta 3-Year FY2024 Goal Target Model – Continuing Operations

    Azenta 3-Year FY2024 Goal Target Model – Continuing Operations * Non-GAAP financial measures © 2021 Brooks Automation, Inc. • Proprietary Information 24 FY 2024 Goal $800-880M $520-570M $280-310M 50-52% ~32% $150-190M 19-22% $200-240M $1.50-1.90 $M except EPSFY 2019FY 2020FY 2021 Total Revenue $334M

  25. Slide 25: Azenta 3-Year FY2024 Goal Target Model – Standalone Basis

    Azenta 3-Year FY2024 Goal Target Model – Standalone Basis The standalone P&L’s reflect pro-forma adjustments to exclude certain corporate costs reported in Continuing operations that management anticipates will no longer be incurred upon completion of the divestiture. * Non-GAAP financial measures ©

  26. Slide 26: GAAP to Non-GAAP Reconciliation Continuing Operations

    GAAP to Non-GAAP Reconciliation Continuing Operations $ millions, except EPS FY 2019 FY 2020 FY 2021 FY 2019 FY 2020 FY 2021 Revenue GAAP gross profit Gross profit margin Amortization expense Tariffs Restructuring related charges Other special charges Non-GAAP gross profit Non-GAAP gross profit marg

  27. Slide 27: Net Income Reconciliation to Adjusted EBITDA

    Net Income Reconciliation Continuing Operations $ millions to Adjusted EBITDA FY'19 FY20 FY'21 Life Science Products FY19 FY20 FY21 Operating Profit (Loss) Adjustments: Depreciation Amortization of intangible assets EBITDA EBITDA margin Adjustments: Stock-based compensation Adjusted EBITDA Adjusted

  28. Slide 28: GAAP to Non-GAAP Reconciliation Total Brooks – Continuing Operations

    GAAP to Non-GAAP Reconciliation Total Brooks – Continuing Operations $ millions, except EPS - Standalone FY 2019 FY 2020 FY 2021 Revenue GAAP gross profit Gross profit margin Non-GAAP Adjustments Non-GAAP gross profit Non-GAAP gross profit margin Non-GAAP standalone gross profit Non-GAAP standalone

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