Slide 1: Investor Presentation May 2025
Investor Presentation January 14, 2025 May 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? 4 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 Entering 2025
Strong End Markets with Positive Trends Entering 2025 Market Trends mAb-based • Biopharma market growing HSD with aging Therapeutics 8-10% Projected CAGR Most mature, ~$250B 194 US FDA approvals population Market 2024e largest, steady ~$15B ~2K Ph 1-3 clinical pipeline • Development and manufacturin
Slide 6: Broad Portfolio Across the Bioproduction Workflow; Addressing Pain Points
Broad Portfolio Across the Bioproduction Workflow; Addressing Pain Points 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: Executing our Algorithm for Consistent Growth Above Market
Executing our Algorithm for Consistent Growth Above Market Ways we grow above market Delivered through product launches & differentiated M&A 1. Create solutions for unmet Process intensification; single use XCell® ATF needs that expand the OPUS® Pre-Packed Columns (Scalable from PD to LS) overal
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 Tantti 908 Devices’ • St
Slide 12: Technology Leadership
(— » Technology Leadership t) REPLIGEN
Slide 13: Flagship Products: Gold Standard Technology, Integrated Systems
Flagship Products: Gold Standard Technology, Integrated Systems XCell® XCell® ATF ATF Systems Systems KRM Chromatography Systems with OPUS® pre-packed columns State-of-the-art integrated chroma system • Effortless scale up where “every drop counts” • 100% single-use and simple • No dead-legs, minima
Slide 14: The Next 5-10 Years
The Next 5-10 Years Positioning for continued success 14
Slide 15: 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 16: 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 17: Repligen Acquires 908 Devices' Bioprocessing Product Portfolio (March 2025)
Repligen Acquires 908 Devices’ Bioprocessing Product Portfolio (March 2025) Important strategic acquisition in our journey to enable digitization in bioprocessing Acquiring differentiated products for key PAT technologies (Raman spectroscopy, Mass Spectrometry, Biosensing, Electrophoresis) … Com
Slide 18: PAT Portfolio Overview: Driving Process Efficiency & Productivity
PAT Portfolio Overview: Driving Process Efficiency & Productivity 2019 LAUNCH 2023 2H LAUNCH 2023 1H LAUNCH 2016 LAUNCH Microfluidics Raman powered, Diffusion Probe Microfluidics CZE + MS purpose-built “de novo” model & Biosensing CZE • At-line cell culture media • Bioprocess analysis and control •
Slide 19: 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 20: Wrap Up: Financial Highlights & 2025 Priorities
Wrap Up Financial Highlights & 2025 Priorities 20
Slide 21: 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 22: Q1 2025 Business Highlights
Q1 2025 Business Highlights Q1-25 Financial Highlights: • Revenue: +10% reported • +11% organic $169M • +14% organic, non-COVID $153M • Orders • Increased sequentially and nearly 20% year-over-year • All four franchises grew double-digits year-over-year • New modalities >20% year-over-year • >50% op
Slide 23: 2025 Financial Guidance
2025 Financial Guidance Financial Guidance Adjusted (non-GAAP) Current Prior April 29, 2025 February 20, 2025 Revenue $695M to $720M $685M - $710M Reported Growth 9.5% - 13.5% 8% - 12% Organic Growth 9.5% - 13.5% 9.5% - 13.5% Organic, Non-COVID Growth 11.5% - 15.5% 11.5% - 15.5% Non-COVID Growth 11.
Slide 24: 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 25: 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 26: Thank You!
»)) Thank You! t) REPLIGEN
Slide 27: Appendix
\)) Appendix t) REPLIGEN
Slide 28: Repligen Tariff and Foreign Exchange Exposure
Repligen Tariff and Foreign Exchange Exposure Tariff Exposure Type Exposure Mitigation Manufactured OUS Sold in US • ~90% manufactured in the US or exempt • Surcharges from tariffs Manufactured in US, Sold OUS • ~25% of consolidated revenue. Believe • Surcharges (ex-China) majority exempt from tarif
Slide 29: 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 12% 34% 35% 25% 80% 65% 75% 65% 54% 58% 49% Biopharma Developers Consumables (Ex-Proteins)
Slide 30: Bioprocessing workflow product portfolio
speog ATF Filtration - al XxCell® ATF a” J | Formulation Clarification honed Vv for Gene Therapy* AVIPure® Resins: . ProConnen® MiKOne ‘ercre Carer ‘0PUs*coturnns Chromatography KrosFlo® TFOF Virus Inactivation Seed Train Production Harvest Purification Concentration Fill & Finish Upstream Systems H
Slide 31: Reconciliation Tables
(— ») Reconciliation Tables tf REPLIGEN
Slide 32: 2024 Reconciliation – Earnings Per Share
2024 Reconciliation – Earnings Per Share 32
Slide 33: Footnotes to EPS table on previous page
Footnotes to EPS table on previous page 33
Slide 34: Footnotes to EPS table (continued)
Footnotes to EPS table (continued) 34
Slide 35: 2025 Guidance Reconciliation – Earnings Per Share
2025 Guidance Reconciliation – Earnings Per Share 35
Slide 36: 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 37: 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 38: Questions?
Questions? Contact investors@repligen.com 38