Slide 1: Repligen Investor Presentation
Repligen Investor Presentation William Blair Growth Stock Conference June 2026
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: Pure-Play Bioprocessing Company Focused on Innovation
Who is Repligen: Pure-Play Bioprocessing Company Focused on Innovation Ticker | RGEN (NASDAQ) HQ | Waltham, MA Industry | Bioprocessing pure-play Employees | ~2,000 Footprint | US/EU Dual Mfg. Revenue | $738M1 1FY25 Our To be the global innovation leader in bioprocessing with an extensive portfolio
Slide 4: Key Takeaways
Key Takeaways Innovative Technology We play in a large bioprocessing market. Our technology allows us to differentiate Gives Us Right to Win against larger competitors. Diversified Portfolio Diversified across customers, modalities, and our unique product portfolio. Multiple Levers to Growth strateg
Slide 5: Innovative Technology Gives Us Right to Win
Innovative Technology Gives Us Right to Win 5
Slide 6: Innovative Technologies and Broad Portfolio Gives Us a Right to Win
Innovative Technologies and Broad Portfolio Gives Us a Right to Win Franchises Spanning the Bioprocessing Workflow How We Win Fluid Hollow Fiber Management Filtration ATF Innovation Our products Downstream TangenX® Systems enable yield gains, cost OPUS® LS efficiencies & Broad Portfolio OPUS® PD spe
Slide 7: History of Above Market Growth; Long Runway in Large & Growing Market
History of Above Market Growth; Long Runway in Large & Growing Market A long history of above market growth… …and continued opportunity given sizable bioprocessing market ($20B+) Revenue by Year Repligen Addressable Market $738M $13B+ 18% CAGR 4X Increase $270M ~$3B 2019 2025 2019 2025 ✓ Our innovat
Slide 8: Our Broad & Diversified Offering
Our Broad & Diversified Offering 8
Slide 9: Over the Last Decade, We Have Diversified the Business
Over the Last Decade, We Have Diversified the Business Customers Franchise Modality New modalities 5% Other Proteins mAbs Customers 70% Top 3 95% 2015 Customers 33% 2015 Chroma 2015 11% 67% Filtration 19% New modalities 16% Top 10 Chroma mAbs Customers Other Filtration 21% 84% 2025 35% Customers 202
Slide 10: One of the Broadest Portfolios in Bioprocessing Industry
One of the Broadest Portfolios in Bioprocessing Industry 10
Slide 11: Multiple Levers to Outpace Industry Growth
Multiple Levers to Outpace Industry Growth 11
Slide 12: Multiple Levers to Continue Outpacing Market Growth Over the Medium-Term
Multiple Levers to Continue Outpacing Market Growth Over the Medium-Term Create solutions Increase our position Leverage mix for unmet needs that in existing markets through by growing commercial expand the overall market commercial execution revenues and exposure to new modalities ✓ Technology crea
Slide 13: Innovating Solutions that Create New Markets
Innovating Solutions that Create New Markets 2021 2022 2023 2024 2025 ~80% of portfolio is differentiated Trailing 3-year NPI Revenue Most of our products face limited competition (e.g. As a % of total revenue ATF, OPUS, PAT) ~12% By focusing on customer needs (yield gains, costs), we deliver breakt
Slide 14: Creating Solutions with Our Digitization Strategy: A Multi-Year Journey
Creating Solutions with Our Digitization Strategy: A Multi-Year Journey Step 1: Built Out Process Analytical Technologies (PAT) Offering C Technologies and the 908 bioprocessing assets acquisition bring us best-in-class PATsmart portfolio in both downstream and upstream. Step 2: Integrate PAT Into S
Slide 15: Increasing our Position in Existing Markets Through Commercial Excellence
Increasing our Position in Existing Markets Through Commercial Excellence Commercial execution and cross-selling entire Under-indexed to APAC, especially China … portfolio with a focus on key accounts investing further in the region Average # of product lines purchased by key Revenue Mix (2025) acco
Slide 16: Making Tangible Progress on Sizable Opportunity in China
Making Tangible Progress on Sizable Opportunity in China We believe China will be major player in biopharma for years to come Our APAC Strategy is already delivering results China Out-licensing Deals1 $B China revenue nearly doubled in Q1, our best quarter in two years $136 This is a testament to ou
Slide 17: Leveraging Mix by Growing Commercial Revenues & Exposure to New Modalities
Leveraging Mix by Growing Commercial Revenues & Exposure to New Modalities Increasing commercial mix as programs advance Product portfolio well-suited for ADCs, mRNA, and as we capture late-stage opportunity cell and gene therapy Revenue Mix by stage of development Revenue Mix (2025) by modality New
Slide 18: Diversified Portfolio Driving 2026 Growth … Meaningful Equipment Opportunity
Diversified Portfolio Driving 2026 Growth … Meaningful Equipment Opportunity Benefiting from broad portfolio in 2026, led by We expect the capital equipment tap to open … strength in Analytics and Chromatography matter of when FY26 Revenue Outlook Capital Equipment Opportunity Funnel by franchise Hi
Slide 19: Market Growth + Multiple Levers to Outpace Market = Doubling the Business
Market Growth + Multiple Levers to Outpace Market = Doubling the Business ~2x RGEN Target: +5% Above Market 8%-12% Bioprocessing + Innovative solutions Market Growth + Increase position $738M + Mix benefits + mAb’s high-single digit growth + Accretive new modalities growth 2025 2030 Expected mid-tee
Slide 20: Committed to Margin Expansion
Committed to Margin Expansion 20
Slide 21: Roadmap to ~30% Adj. EBITDA Margin
Roadmap to ~30% Adj. EBITDA Margin Multiple levers to drive margin expansion over the medium term ~30% ✓ Targeting 100+ bps of annual GM Transformation Office expansion … path to mid to high 50%’s Price/Mix OpEx Leverage From: (1) Volume leverage, Manufacturing (Rev. growth > 19% OpEx growth) (2) Pr
Slide 22: Transformation Office Accelerates Fit for Growth Investments and Margin Expansion
Transformation Office Accelerates Fit for Growth Investments and Margin Expansion Fit-for-Growth Initiatives IT and AI investments ✓ Acceleration of IT modernization and AI implementation across all functions Customer Service and ✓ Continuously improve customer service and capture value across our p
Slide 23: Delivering on Strategic Priorities
Delivering on Strategic Priorities 23
Slide 24: Delivered on Our Key Priorities in 2025
Delivered on Our Key Priorities in 2025 Priorities How We Delivered in 2025 Framework for 2026 1 Above market growth Grew 16% organic non-COVID, outpacing market growth Execute growth algorithm: cross- selling, key accounts, APAC Continued gross margin expansion & 2 Expand margins Expanded adj. oper
Slide 25: Delivered on Our Key Priorities in 2025 … Our Goals for 2026 Remain the Same
Delivered on Our Key Priorities in 2025 … Our Goals for 2026 Remain the Same Priorities How We Delivered in 2025 Framework for 2026 1 Above market growth • Grew 16% organic non-COVID, outpacing market growth Execute growth algorithm: cross- selling, key accounts, APAC Continued gross margin expansio
Slide 26: Thank you
Thank you www.repligen.com 26
Slide 27: Appendix
Appendix @) REPLIGEN 27
Slide 28: Creating Solutions with Technology & Company Acquisitions ... Key Capital Allocation Priority
Creating Solutions with Technology & Company Acquisitions ... Key Capital Allocation Priority M&A Criteria Select Acquisitions & Investments Technology Differentiated, flexible, scalable Filtration First Complementary or adjacency Fluid Adds to or leverages capabilities Management Strategic Expands
Slide 29: 2026 Guidance
2026 Guidance FY26 Financial Guidance Adjusted (non-GAAP) Current Prior May 5, 2026 February 24, 2026 Revenue $803M to $833M $810M to $840M Reported Growth 9% - 13% 10% - 14% Organic Growth 9% - 13% 9% - 13% Gross Margin 53.7% to 54.2% 53.6% to 54.1% Operating Income $124M to $132M $122M to $130M Op