Slide 1: Making Success More Certain
Making Success More Certain March 2025
Slide 2: Disclaimer
Disclaimer Except for historical information contained herein, the matters set forth in this presentation are forward looking statements that are subject to risks and uncertainties that could cause actual results to differ materially. These forward-looking statements are not based on historical fact
Slide 3: Bora 2024 Milestones and Highlights
Bora 2024 Milestones and Highlights +35.5% Group Revenues / +31.5% Group Net Income 2024 vs 2023 +30.3% CDMO Revenues 2024 vs 2023 +84.0% Commercial Revenues 2024 vs 2023 Secured Sizable CDMO US Capacity Expanded CDMO Offerings & Ready For New Modality Launched Vigafyde & Potassium Chloride ER In th
Slide 4: 2024FY Financial Highlights
2024FY Financial Highlights
Slide 5: Bora Continues to Deliver Rapid Growth in 2024
Bora Continues to Deliver Rapid Growth in 2024 Increased Profitability Despite Acquisition and Integration Costs Accelerating Sales and Net Income As We Grow Gross Profits & Gross Margin 41% payout ratio for 2024FY 4Q24 incurred one-off impacts from (1) post-merger quality (36% cash and 5% stock) Re
Slide 6: 2024 Marks A Year of Pursuit of Scope And Scale Despite Turbulent Market Landscape
2024 Marks A Year of Pursuit of Scope And Scale Despite Turbulent Market Landscape Flagship product of Commercial business DLS In 2024, Bora executed acquisitions aligned with 3 key strategic declined 40.7% year over year due to new entrant, rationales - entering new technology platforms for bro
Slide 7: Q4’24 & FY2024 Financial Highlights
Q4’24 & FY2024 Financial Highlights Reported in NT$mn, except for EPS 2024FY 2023FY YoY% 4Q2024 4Q2023 YoY% Revenue 19,246 14,200 35% 5,746 3,206 79% COGS -11,536 -7,209 60% -3,869 -1,509 156% Gross Profit 7,710 6,991 10% 1,877 1,697 11% GM% 40% 49% 33% 53% S&M -1,210 -447 171% -417 -132 216% G&A -2
Slide 8: Capital Efficiency Increase Drives Long-Term Growth
Capital Efficiency Increase Drives Long-Term Growth Strong Cash Position To Further Fuel Accretive We Continue to Enhance Financial Flexibility M&As and Value Creation Initiatives $5,829,197 and Capital Efficiency For The Future *4Q24 incurred one-off impacts from post-merger quality system harmoniz
Slide 9: We Continue to Execute Synergistic M&A
We Continue to Execute Synergistic M&A 2018 Feb 2020 Dec 2022 Sept 2024 April 2024 Aug Production site of Production site of Sterile Ophthalmic Manufacturing site Upsher-Smith CDMO arm of Impax GSK site of TWi and lab of TWi Emergent Rationale • acquire large-scale • increase scale in FDF • acquire
Slide 10: CDMO Highlights: Becoming a True End to End CDMO with Best in Class Quality
CDMO Highlights: Becoming a True End to End CDMO with Best in Class Quality and Reliability Yield / Extensive Dosage Forms Right batch OTIF First success Unique Competitive • OSD 94% Time rate Advantage • Nasal Spray 95% 99% • Ophthalmic • Large Pharma quality with • Semi-Solids Small Bio attention
Slide 11: 2024 CDMO Business Highlights
2024 CDMO Business Highlights Customer Facing Manufacturing Scorecards Scorecards 6 Days < 2 Weeks 16 Launches Quote Turnaround Customer Onboarding 2.8bn for a total of 96 Time Scheme Doses Produced Commercial Products Long Tail & 7 Commercial 40 New Strong Partnership MSAs Molecules Always Committe
Slide 12: Executing Bora’s North America Manufacturing Strategy
Executing Bora’s North America Manufacturing Strategy Plymouth + Maple Grove, Minnesota Oral Solid Oral Solids Tablets • hard-gelatin capsules (IR/MR) Capsules • tablets, coated/ uncoated (IR/DR/ER) + Packaging & Powders (oral and topical) Serialization Liquids (solutions) US Facility + Pa
Slide 13: Firing on all Cylinders, Accelerating into 2025
Firing on all Cylinders, Accelerating into 2025 Small Molecule Summary Large Molecule Summary Continued Capex 140 projects wins; 25 project wins; Riding on injectable / fill & finish Repeat business from ~30% of our clients Repeat business from ~25% of our clients demand tailwind, we are investing i
Slide 14: Maple Grove: One of the Largest OSD Sites in the US
Maple Grove: One of the Largest OSD Sites in the US Well Positioned for On-shoring Capacity Needs Ramping down Plymouth in 1H 2025 Maple Grove is 612,396 sqf in space, 6x of Plymouth; Built in 2003 and expanded once by Sawaii in 2022 Equipped with manufacturing, packaging, QA/QC, pilot tests a
Slide 15: Large Molecule Drug Substance CDMO Development to Commercial
Large Molecule Drug Substance CDMO Development to Commercial: The Foundation of Success ADC (Antibody Drug Conjugate) multi-specific monoclonal antibody MSA signed; Zhubei facility of Bora Biologics Several pre-IND stage clients for Bora Biologics; expanded in 2024; capable of handling cyctoxic Clie
Slide 16: Continuing to Show Our Value Proposition and Leadership in The Industry
Continuing to Show Our Value Proposition and Leadership in The Industry Awarded Best CDMO, small molecule and Biologics 《Outsourced Pharma 2025》
Slide 17: Consolidating US Commercial Brands Under “Upsher-Smith”
Consolidating US Commercial Brands Under “Upsher-Smith” Pharmaceuticals Since 1919 Market Penetration Brand and Community Aiming For Market Reach & Operational Efficiency Awareness 17
Slide 18: High Growth Rare Disease and Specialty Franchise
High Growth Rare Disease and Specialty Franchise To Drive Strong Top & Bottom-Line Growth Capitalizing Focus on high- To Exceed On USL growth TA for 20 by 2027 Specialty/Brand Specialty Channel other generics DLS DTC+DTS PAC KCL specialty Strength 13 INN New generics 7 INN launched in 2024 DLS 75 IN
Slide 19: Acquired in November 2024
Acquired in November 2024 Vigabatrin 505(b)(2) • Revolutionary product in the vigabatrin and IS market in 15 years • Enhanced safety and precision • Clinically superior to existing products • VIGAFYDE obtained Orphan Drug Designation (Awaiting ODE) • Also preparing to submit application for TSC 19
Slide 20: Human Factor Study comparing the dosing accuracy of Vigafyde RTD compared to Vigabatrin Powder
Human Factor Study comparing the dosing accuracy of Vigafyde RTD compared to Vigabatrin Power Vigabatrin powder dose errors ranged from 62% below target to 24% above target • With vigabatrin powder, actual doses delivered ranged Comparison of doses delivered by formulation and by from 425 mg (62% be
Slide 21: Leadership Established in Pediatric Rare Disease Market
Leadership Established in Pediatric Rare Disease Market Launching the In-House Specialty R&D Pipeline, Led by Stiripentol VIGADRONE + VIGAFYDE • VIGADRONE is one of the most well-known USL • Leader in IS rare disease treatment brands in Infantile Spasm VIGADRONE • Broadened offerings in vigabatrin 5
Slide 22: Outperforming Generics Portfolio with Continued Rationalization
Outperforming Generics Portfolio with Continued Rationalization and Focus on High Value Products and Pipeline Existing Portfolio Outperforming against Peers Significant Upside Potential from Diversified Pipeline TTL Addressable Market Potentials* of Generic Pipeline Dexlansoprazole Delayed-Release C
Slide 23: BORA VISION 2025
2025 Performance to Improve As Integration Synergies Emerge CDMO Business Scale Up Ramping down production at Upsher-Smith’s Plymouth facility, shifting U.S.-facing internal orders to more cost-effective Achieve More production sites within the group Maple Grove’s CDMO business shall begin in
Slide 24: Bora and Community
Bora and Community
Slide 25: Recognized by Global Investors & Capital Markets
Recognized by Global Investors & Capital Markets • 2019 – Listed as one of the “TPEx Top 200 Index” as soon as the index has been launched • 2022 – Listed as one of the “TPEx Top 50 Index” • 2022 – Listed as one of the “MSCI Global Small Cap Index” • 2023 – Listed as one of the “FTSE Global Equity I
Slide 26: Bora’s Commitment to Governance, People & Society
Bora’s Commitment to Governance, People & Society >50% International Employees 45% 79% Female Managers Master & Ph.D. in R&D 0 Culture Recalls or Cultural Hazardous Effect Integration Promise of Support ProgramTM 26
Slide 27: Operational Excellency and Sustainability Drive Mutual Success
Operational Excellency and Sustainability Drive Mutual Success Establish Board-level Sustainability Achieve Net-Zero by 2050 Commitment to Development Committee Sustainability Conduct Employee Human Rights Due Conduct Social Care Through a Diligence Survey Healthcare-Centered Approach Adopt predicti
Slide 28: Thank You !
bord Pharmaceuticals Thank You ! Bora oe