Slide 1: Investor Presentation November 2025
Investor Presentation January 14, 2025 November 2025 1
Slide 2: Safe Harbor / Non-GAAP financial measures
Safe Harbor / Non-GAAP financial measures This presentation contains forward-looking statements within the meaning of the federal securities laws. Statements in this presentation which are not strictly historical statements including, without limitation, express or implied statements or guidance reg
Slide 3: Who is Repligen?
») Who is Repligen? | REPLIGEN
Slide 4: Repligen Snapshot: The Innovation Leader in Bioprocessing
Repligen Snapshot: The Innovation Leader in Bioprocessing • Supporting Biopharma and CDMOs with a broad and Performing Above Market differentiated portfolio of hardware & consumables used • Since 2014, 14 disruptive product in biological drug production launches, 15 acquisitions • 19% 5-year revenue
Slide 5: Strong End Markets with Positive Trends
Strong End Markets with Positive Trends Market Trends mAb-based • Biopharma market growing HSD with aging Therapeutics 8-10% Projected CAGR Most mature, ~$250B >200 US FDA approvals population Market 2024e largest, steady ~$15B ~2K Ph 1-3 clinical pipeline • Development and manufacturing costs under
Slide 6: Broad Portfolio Across the Bioproduction Workflow; Addressing Pain Points
Broad Portfolio Across the Bioproduction Workflow; Addressing Pain Points Shaded parts of the workflow identifies steps Repligen does not currently address (bioreactors, cell culture media and virus inactivation) 6
Slide 7: How Are We Different?
How Are We Different? Our approach to winning through differentiation 7
Slide 8: Repligen's Value Creation Equation
Repligen’s Value Creation Equation Strategy Capabilities Results: 2014 to 2024 ✓ 100% Bioprocessing including ✓ Innovation enabling customer ✓ 10-fold increase in revenue Analytics efficiency ✓ Adj. EPS $0.24 to $1.58 ✓ Disruptive technology launches ✓ Our culture … nimble, to generate productivity
Slide 9: Our Algorithm for Outpacing Market Growth
Our Algorithm for Outpacing Market Growth Ways we grow above market Differentiated Technology and Commercial Strategy 1. Create solutions for unmet ✓ Innovative solutions that address customer pain points needs that expand the ✓ Examples: ATF, PAT-enabled systems, dsRNA resin overall market 2. Incre
Slide 10: Expanding our Total Addressable Market: $12B of ~$20B Total
Expanding our Total Addressable Market: $12B of ~$20B Total 14000 ~$12B We increased our TAM by 3x over four years through: 12000 Analytics ✓ Strategic M&A, R&D, entry into new markets 10000 3x increase Chrom in TAM ✓ Creation of new markets 8000 Filtration ✓ Expanded portfolio, workflow coverage an
Slide 11: Differentiated M&A: High Potential Technology, Strategic Relevance
Differentiated M&A: High Potential Technology, Strategic Relevance Filtration Chrom Proteins Analytics Filtration Disciplined M&A What we look for: • Technology first − Differentiated, flexible, scalable Avitide C Technologies − Complementary or synergistic Refine Atoll GmbH TangenX Tantti 908 Devic
Slide 12: Where Have We Been and Where We Want To Go
Where Have We Been and Where We Want To Go Positioning for continued success 12
Slide 13: Evolution of Our Bioprocessing Business
Evolution of Our Bioprocessing Business 2015 2024 • Diversified customer base; largest customer represented ~6% of FY-24 revenues Customer All other customers % of revenues 19% 81% 66% 34% Top 10 customers • Continued launch of differentiated products % of revenues and M&A enables a broadening portf
Slide 14: Well-Positioned for The Digitization Journey
Well-Positioned for The Digitization Journey The Digitization Model continues to mature Maturity Process Modeling and • Process Modeling & Automation broadly utilized Automation to speed R&D and improve manufacturing productivity Growing/Mature • PAT technologies have been introduced “at-line” PAT a
Slide 15: Fit for Growth … the People, Culture and Processes to Grow
Fit for Growth … the People, Culture and Processes to Grow People & • Retain & attract great talent … developing leaders for the future Culture • Collaborate across functions … fast decision making • Optimized global footprint … concentrate investments on state-of-the-art Ops ‘anchor’ sites, while m
Slide 16: Wrap Up
Wrap Up Financial Highlights & 2025 Priorities 16
Slide 17: Financial Highlights
Financial Highlights Revenue Growth Adj. EPS - Diluted Top Financial Value Creation Levers $634M $1.58 1. Compelling above-market revenue growth trajectory ~19% $270M CAGR $1.07 2. Commitment to margin expansion and continued cost discipline … productivity execution and leverage 2019 2024 2019 2024
Slide 18: Q3-2025 Business Highlights
Q3-2025 Business Highlights Q3-25 Financial Highlights: • Revenue: +22% reported $189M • +18% organic • Orders $155M • Increased sequentially and 20%+ year-over-year • 6th quarter in a row of sequential order growth • Margins • Adj. GM: 53.3% • Adj. OM: 14.2% • Cash balance: $749M at 9/30/25 Busines
Slide 19: 2025 Financial Guidance
2025 Financial Guidance FY25 Financial Guidance Adjusted (non-GAAP) Current Prior October 28, 2025 July 29, 2025 Revenue $729M to $737M $715M to $735M Reported Growth 15% - 16% 13% - 16% Organic Growth 12% - 13.5% 10.5% - 13.5% Organic, Non-COVID Growth 14% - 15.5% 12.5% - 15.5% Non-COVID Growth 17%
Slide 20: Our 2025 Priorities
Our 2025 Priorities Top 5 Priorities Framework 1. Accelerate growth with a transformed Low-double digit growth ex-COVID; customer experience increased investment in APAC 2. Expand margins 100 – 200 bps EBIT expansion (ex-M&A) 3. Continue to innovate (R&D) Disruptive new product launches 4. Pursue an
Slide 21: Wrap up … Why Repligen?
Wrap up … Why Repligen? ✓ Breakthrough innovation is in our DNA … positively influencing the future of bioprocessing ✓ Top industry expertise and proven track record; capability to scale ✓ Earned reputation for customer centricity, flexibility and quick execution ✓ Well defined algorithm to continue
Slide 22: Thank You!
»)) Thank You! ft) REPLIGEN
Slide 23: Appendix
\)) Appendix ft) REPLIGEN
Slide 24: Revenue Splits 2024
Revenue Splits 2024 Total Total Total Total Total Revenue Mix Revenue Mix Revenue Mix Revenue Mix Revenue Mix 2% 5% China 15% 18% 17% ~3% 24% 35% Consumables/ Equipment Pharma/CDMO 30% Revenue Mix Revenue Mix 34% 12% 35% 25% 80% 65% 75% 65% 54% 58% 49% Biopharma Developers Consumables (Ex-Proteins)
Slide 25: Bioprocessing workflow and product portfolio
Media Prepara' Buffer Preparation ATF Filtration Py = L XCell* ATE ~ Clarification wi? | for Gene Therapy* AVIPure* Resins 7 ‘0PUS* columns Chromatography , 4 KrosFlo® TOF Virus Inactivation Harvest Purification Concentration Fill & Finish A A A A Upstream Systems Harvest Systems Downstream Systems
Slide 26: Reconciliation Tables
(7G ») Reconciliation Tables tf REPLIGEN
Slide 27: 2024 Reconciliation – Earnings Per Share
2024 Reconciliation – Earnings Per Share 27
Slide 28: Footnotes to EPS table on previous page
Footnotes to EPS table on previous page 28
Slide 29: Footnotes to EPS table (continued)
Footnotes to EPS table (continued) 29
Slide 30: 2025 Guidance Reconciliation – Earnings Per Share
2025 Guidance Reconciliation – Earnings Per Share 30
Slide 31: 2014 Reconciliation – Earnings Per Share
2014 Reconciliation – Earnings Per Share Reconciliation of Earnings Per Share (GAAP) to Adjusted Earnings Per Share (Non-GAAP) Twelve months ended December 31, 2014 EARNINGS PER SHARE (GAAP) - DILUTED $ 0.25 ADJUSTMENTS TO EARNINGS PER SHARE (GAAP) - DILUTED Royalty and other revenue $ (0.09) Acquis
Slide 32: 2019 Reconciliation – Earnings Per Share
2019 Reconciliation – Earnings Per Share Reconciliation of Earnings Per Share (GAAP) to Adjusted Earnings Per Share (Non-GAAP) Twelve months ended December 31, 2019 EARNINGS PER SHARE (GAAP) - DILUTED $ 0.44 ADJUSTMENTS TO EARNINGS PER SHARE (GAAP) - DILUTED Acquisition and integration $ 0.26 Invent
Slide 33: Questions?
Questions? Contact investors@repligen.com 33