Eurofins Scientific Se · EURONEXT:ERF
Eurofins Scientific — Investor Presentation (September 2025)
120 slides from Eurofins Scientific's investor presentation, September 2025
Slide 1: Eurofins Corporate Presentation
CONFIDENTIAL AND PROPRIETARY - © Eurofins Scientific (Ireland) Ltd, 2025. All rights reserved. This document contains information that is confidential and proprietary to Eurofins Scientific SE and / or its affiliates and is solely for the use of the personnel of Eurofins Scientific SE and all its af
Slide 2: Disclaimer
Disclaimer This presentation does not constitute or form part of, and should not be construed as, an offer or invitation to subscribe for or purchase securities in Eurofins Scientific S.E. and neither this document nor anything contained or referred to in it shall form the basis of, or be relied on
Slide 3: Executive Summary
Executive Summary CONFIDENTIAL AND PROPRIETARY - © Eurofins Scientific (Ireland) Ltd [2025]. All rights reserved. Any use of this material without the specific permission of an authorized representative of Eurofins Scientific (Ireland) Ltd is strictly prohibited. 3
Slide 4: Our Vision & Purpose: Testing for Life
Our Vision & Purpose: Testing for Life We aim to have a positive impact on LIFE, HEALTH and the ENVIRONMENT. CONFIDENTIAL AND PROPRIETARY - © Eurofins Scientific (Ireland) Ltd [2025]. All rights reserved. Any use of this material without the specific permission of an authorized representative of Eur
Slide 5: Eurofins: The World Leader in Testing for Life
Eurofins: The World Leader in Testing for Life Key Figures 35+ years of value creation • Long-term track record of turning investments into growth, productivity, margin expansion and Return on Capital Employed 950+ laboratories 450,000,000+ • Competitive advantages based on tests performed each year
Slide 6: Eurofins' Mission is to contribute to global Health, Safety & Environment
Eurofins’ Mission is to contribute to global Health, Safety & Environment with the best in bioanalysis Eurofins provides testing services in four main areas that have a strong impact on human health • Founded in 1987 Food • IPO on 24 October 1997 at €0.183 • In the 27 years since its IPO to 31st Dec
Slide 7: What we do
What we do ACTIVE WHEREVER TESTING CAN IN VITRO FOOD AND FEED TESTING DIAGNOSTICS AGRO TESTING PROTECT LIFE COSMETICS TESTING MATERIALS AND ENVIRONMENT ENGINEERING SCIENCES FORENSIC TESTING SERVICES AGROSCIENCE SERVICES BIOPHARMA SERVICES ASSURANCE GENOMIC SERVICES CONSUMER CLINICAL DIAGNOSTICS PROD
Slide 8: Fastest growing TIC company which became the leader of an industry
Fastest growing TIC company which became the leader of an industry with attractive and resilient organic growth • Market Structural growth: est. ~1.5-2.0x Gross Domestic Product growth • Globalisation, urbanisation and outsourcing increasing need and demand for a healthier life and safer environment
Slide 9: Drivers for long-term market growth above GDP
Drivers for long-term market growth above GDP Secular Underlying General Market Drivers Laboratory Market Drivers Fundamentals Demand for safe pharmaceuticals, Increasing wealth Consumer quality food and clean environment and quality of life expectations for protection Consolidation of the fragmente
Slide 10: Global trends in regulation support the business
Global trends in regulation support the business • Strongly regulated markets (EU, U.S.) are still amending and adding regulations • Eastern European countries catching up with EU regulations • Fast development of regulation in Asia • Regulation used for support of trading blocks (e.g. EU, NAFTA, AS
Slide 11: Outsourcing adds to market growth
Outsourcing adds to market growth Examples of laboratories outsourced to Eurofins Company Outsourced Activity Country Fujitsu Quality Lab Specialised Material Sciences Japan Labser Food and Feed testing Spain Axéréal & Terrena Galys agricultural laboratories France Signify Materials Analysis and Rel
Slide 12: Building leadership positions in an industry with significant network effects
Building leadership positions in an industry with significant network effects and competitive advantage for the market leader • High level of investment and innovation required to build and efficiently run a network of High barriers modern laboratories (buildings, equipment, IT infrastructure and so
Slide 13: Eurofins' strategy aims at building long-lasting competitive advantage
Eurofins’ strategy aims at building long-lasting competitive advantage in very attractive markets Leading technology Quality of customer service • Competence Centres & R&D activities • Extensive expertise in local regulations for all major markets, and one-stop contact for compliance in multiple cou
Slide 14: Eurofins is developing high Barriers to Entry around its businesses
Eurofins is developing high Barriers to Entry around its businesses Offering a premium quality service … ... and leveraging internal efficiencies • Portfolio: over 200,000 analytical methods – unique in the • Industrialising the laboratory process: rationalisation of world and ahead of competition s
Slide 15: Building the Platform – Eurofins 2012 - Eurofins 2024
Building the Platform – Eurofins 2012 - Eurofins 2024 2012 2015 2019 2024* 2012-2024 ∆ Revenues (€ m) 1,044 1,950 4,563 6,951 17% CAGR Employees 10,890 18,382 43,320 63,000 16% CAGR (total headcount) Number of laboratories 170 225 >800 >950 >+780 Number of countries 34 39 >50 60 +26 7 (Food and feed
Slide 16: One-of-a-kind 'hub and spoke' laboratory network
One-of-a-kind ‘hub and spoke’ laboratory network infrastructure is our platform for market leadership Spoke Eurofins’ network of laboratories Hub Local laboratories address immediate local Competence centres concentrate more specialised testing needs testing demands • Fast turnaround time for time-c
Slide 17: Infrastructure plan update: building a hub and spoke laboratories platform
Infrastructure plan update: building a one-of-a-kind hub and spoke laboratories platform for global leadership in our markets to capture scale advantages • Building large high-throughput laboratory campuses (hubs of the hub and spoke structure) As of the end of 2023, Eurofins occupied more than 1,90
Slide 18: Large majority of revenues from markets with global leadership positions
Overall, a large majority of Eurofins’ revenues come from markets where the Group has established global leadership positions Business Line Global leadership position* Food & Feed testing ✓ These global Environment testing ✓ leadership Clinical Diagnostics positions are the basis to BioPharma Produc
Slide 19: Eurofins is already present in countries generating over 88% of world GDP
Eurofins is already present in countries generating over 88% of the world’s GDP… but still has lots of room to grow International Monetary Fund Eurofins market presence (Estimates as of October 2024) (To the best of Eurofins’ knowledge, based on data available to the Group) Country GDP ($tn) % of wo
Slide 20: Eurofins is the leader in most of its markets
Eurofins is the leader in most of its markets and continues to build global & local leadership positions* in markets where scale matters New Markets 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 N°1 N°1 Global N°1 Eurofin
Slide 21: Good track record of successfully integrating acquired businesses
Eurofins has a good track record of successfully integrating acquired businesses Good pipeline of M&A opportunities 70 567 600 Number of acquisitions per year (average) 536 496 Cumulative number of acquisitions 60 500 437 50 399 373 400 347 40 295 300 235 30 59 31 60 52 200 20 40 127 38 26 26 100 10
Slide 22: Innovation driven growth
We continue to lead our field in terms of innovation Eurofins continued to invest, throughout 2024, to ensure our entrepreneurs have the strongest foundation to pursue innovation-driven growth In 2024, Eurofins’ scientists published numerous scientific papers in academic journals 1 Scientific Scient
Slide 23: Activities
Activities CONFIDENTIAL AND PROPRIETARY - © Eurofins Scientific (Ireland) Ltd [2025]. All rights reserved. Any use of this material without the specific permission of an authorized representative of Eurofins Scientific (Ireland) Ltd is strictly prohibited. 23
Slide 24: Continued strong secular growth outlook in all Eurofins activities
Continued strong secular growth outlook in all Eurofins activities Long-term objective: 6.5% p.a. average organic growth Revenue share Organic growth Activities in FY 2024 Growth drivers outlook • Rising awareness and demand for food safety & quality • Food and Feed Testing and contamination & pollu
Slide 25: Leading global and local market positions in attractive high-growth markets
Leading global and local market positions in attractive high-growth markets* Testing for Food & Feed Testing Environment Testing Clinical Diagnostics Pharma/Biotech/Agrosciences Eurofins N°1 to N°3 N°1 N°1 Start-Up position* worldwide worldwide worldwide Started 2014 Started 2000-2005 Started 1987 S
Slide 26: Global leadership positions in high potential niche markets
Eurofins has also established global leadership positions in high potential niche markets Agroscience CRO** Advanced Materials Genomic Services Discovery Pharmacology Cosmetics Testing Services Sciences N°3 N°1 N°1 N°1 to N°2 N°1 Worldwide Eurofins position* worldwide worldwide worldwide worldwide N
Slide 27: Eurofins is also present in several high growth Life Sciences markets
Eurofins is also present in several high growth Life Sciences markets Oligonucleotides Production and In Vitro Diagnostics (IVD) Solutions Next Generation Sequencing (NGS) #3* worldwide Eurofins Start-up #3* in Europe position Start 2016 Start 2000 Gold Standard Diagnostics, previously known as Euro
Slide 28: Food & Feed Testing
Food & Feed Testing CONFIDENTIAL AND PROPRIETARY - © Eurofins Scientific (Ireland) Ltd [2025]. All rights reserved. Any use of this material without the specific permission of an authorized representative of Eurofins Scientific (Ireland) Ltd is strictly prohibited. 28
Slide 29: Best-in-class Food & Feed Testing network in Europe
Eurofins operates the best-in-class Food & Feed Testing network in Europe Eurofins Food and Feed Testing European Network Market leader in significant markets • Nordics • Spain • Germany • Benelux • France • UK & Ireland >100 laboratories throughout Europe, including 5 hubs offering specialised test
Slide 30: Best-in-class hub and spoke network in North America
Eurofins Food & Feed has built and operates the best-in- class hub and spoke network in North America HUB LABS Des Moines, IA Madison, WI Madison, WI New Orleans, LA Toronto, ON Toronto, ON Los Angeles, CA Minneapolis, MN Madison, WI SPOKE LABS Atlanta, GA Gordon, NE Omaha, NE Battle Creek, MI Idaho
Slide 31: Addressable global food & feed testing market enjoys robust growth drivers
Eurofins’ ~€4bn1 addressable global food & feed testing market enjoys robust growth drivers Globalisation: raw Consumers’ Outsourcing of Food scares and materials sourced increasing awareness industry’s internal or crises, widely covered from countries with and demand for safe state- owned in the me
Slide 32: High profile food scares have expensive consequences for producers
High profile food scares have expensive consequences for producers… Brand / Year Contamination Impact Cost Source Country 2024 McDonald’s E. Coli in Quarter Pounder burgers 104 reported cases, 37 hospitalizations and 1 death across 14 states in the US ~ USD 12bn CNBC Market value lost 2023 Gills Oni
Slide 33: Leading Food & Feed Testing market position in Europe
Our leading Food & Feed Testing market position in Europe is underpinned by the trust of our customers Food & beverage Agriculture Retailers Restaurants & Caterers producers Customers1 & Contracts Global players International conglomerates Supermarket chains Major operators Caterers + regional & loc
Slide 34: Finishing the Food & Feed Testing European Hub & Spoke network
Finishing the Food & Feed Testing European Hub & Spoke network of specialty, chemical and microbiology laboratories Today’s footprint Target footprint • Standardised network composed of: o Local time-critical microbiology laboratories o National chemistry production centres o European specialty test
Slide 35: Environment Testing
Environment Testing CONFIDENTIAL AND PROPRIETARY - © Eurofins Scientific (Ireland) Ltd [2025]. All rights reserved. Any use of this material without the specific permission of an authorized representative of Eurofins Scientific (Ireland) Ltd is strictly prohibited. 35
Slide 36: Leading Environment Testing network in Europe
Eurofins operates the leading Environment Testing network in Europe France Sweden Denmark ▪ Specialties: asbestos, water, hospital ▪ Specialties: indoor air testing, solid ▪ Specialties: Covid Waste hygiene, polluted sites, air, radioactivity, oil fuels & radon Water, DNA, Geotechnical, Germany Finl
Slide 37: Eurofins Environment Testing USA
Eurofins Environment Testing USA 67 Laboratory Locations ~3,000 Staff (2023) 5.5M Samples (2023 actual) 550+ Accreditations & Certifications CONFIDENTIAL AND PROPRIETARY - © Eurofins Scientific (Ireland) Ltd [2025]. All rights reserved. Any use of this material without the specific permission of an
Slide 38: Addressable global environment testing market enjoys robust growth drivers
Eurofins’ ~€5bn1 addressable global environment testing market enjoys robust growth drivers Progress in epidemiology & Rise in contamination & Increasing demand by citizens medicine has identified more pollution issues for a clean environment compounds as toxic Increasingly long list of products ide
Slide 39: Leading Environment Testing market position in Europe
Our leading Environment Testing market position in Europe is underpinned by the trust of our customers Engineering, Consulting, Industry, Manufacturing & Soil & Hazardous Waste Governments, Universities Construction firms firms & Non-Profits Customers1 & Contracts Global players Global players Typic
Slide 40: Investing in Network Growth to Drive Productivity
Investing in Network Growth to Drive Productivity Seattle 20K sq ft Renovation Chicago 03/2024 35K sq ft New Build, Cleveland Relocation 50K sq ft 03/2025 New Build, Relocation Sacramento 03/2022 68K sq ft New Build 2027 Orlando Pomona 35K sq ft 48K sq ft New Build, New Build, Relocation Relocation
Slide 41: Eurofins Environment Testing U.S.
Eurofins Environment Testing U.S. Geographic Orientation with Specialty and Drinking Water Hub & Spoke Model Specialty Services* Sacramento (x2) Knoxville Lancaster St. Louis Burlington Denver Drinking Water Los Angeles South Bend Orlando Built Environment Distributed Model 26 locations Six local sh
Slide 42: Federal US Regulations
Federal US Regulations Safe Drinking Water Act CERCLA TSCA Effective June 25, 2024 Effective July 8, 2024 Effective Sept 18, 2023 • Adopted Maximum Contaminant Levels • Order investigation/cleanup of • Manufacturers/importers required to report (MCLs) for PFAS in Drinking Water PFOA/PFOS, including
Slide 43: The PFAS market in Europe, a sleeping giant
The PFAS market in Europe, a sleeping giant: regulations and public interest expanding in many countries to cover more matrices • EU Directive intends to implement PFAS monitoring in • European Commission sets maximum levels for certain drinking water in 2026 Link PFAS contaminants in foodstuffs Lin
Slide 44: Technology and thought leader in PFAS testing
Also leading through innovation: Eurofins is a technology and thought leader in PFAS testing Science behind PFAS testing increasing in scope and complexity Eurofins industry leadership OECD • >20 years of PFAS analytical experience revised definition Buck et al. defines OECD EPA4 estimates establish
Slide 45: Largest PFAS Laboratory Network in the US
Largest PFAS Laboratory Network in the US Specializing in Production, Innovation and Research 9 PFAS Laboratories 24 yrs of PFAS analytical experience >100 instruments dedicated to PFAS 100+ compounds in dozens of matrices 40,000 samples/month capacity >820,000 samples analyzed >10,000 PFAS Projects
Slide 46: PFAS – Positive Drivers and Full Sector Coverage
PFAS – Positive Drivers and Full Sector Coverage Market Drivers Eurofins comprehensive PFAS testing suite Human Serum $$$ Treatment Class Approach Whole Blood AFFF Product AFFF Impacted Media At-Home Test Kit Significant investment in Treat all PFAS as toxic treatment technologies and and regulate a
Slide 47: Regulations expanding to cover even more specialised contaminants
Regulations expanding to cover even more specialised contaminants EU Urban Waster Water Treatment Directive Consequences for wastewater treatment Potential market opportunity 1. Extended treatment obligations • 26,523 to cover micro-pollutants (quaternary WWTPs in treatment) Europe3 2. Increased sco
Slide 48: What Next in Environment Testing? Global Plastic Pollution
What Next in Environment Testing?...(One Example) Global Plastic Pollution, Legislations & Eurofins Solution Global Problem Eurofins Solution • Exponential Rise in Global Plastic • 5 State-of-the-Art Laboratories: US, Spain, Production Norway, Hungary, Australia • Microplastics found in the environm
Slide 49: Proprietary standardisation, automation and digitalisation initiatives
Parallel to stricter regulations, Eurofins’ proprietary standardisation, automation and digitalisation initiatives support strong profitable growth Sampling Reception Consumables Preparation Analysis Reporting Proprietary test kit and Samples collected in Proprietary micro grids Deployment of modula
Slide 50: Automation and AI improves productivity of Asbestos testing
Case study: Automation and AI1 improves productivity of Asbestos testing Asbestos testing market Traditional asbestos Improved asbestos testing flow in France testing flow Pre-analysis / Preparation Splitting Splitting Automation Acidification Acidification assisted 10 million Growth preparation sam
Slide 51: BioPharma Services
BioPharma Services CONFIDENTIAL AND PROPRIETARY - © Eurofins Scientific (Ireland) Ltd [2025]. All rights reserved. Any use of this material without the specific permission of an authorized representative of Eurofins Scientific (Ireland) Ltd is strictly prohibited. 51
Slide 52: BioPharma services span the complete product development cycle
Eurofins BioPharma services span the complete product development cycle CONFIDENTIAL AND PROPRIETARY - © Eurofins Scientific (Ireland) Ltd [2025]. All rights reserved. Any use of this material without the specific permission of an authorized representative of Eurofins Scientific (Ireland) Ltd is str
Slide 53: BioPharma Services – Comprehensive Global Offering
BioPharma Services – Comprehensive Global Offering Pre-clinical / Clinical BioPharma PSS1 Testing (Central Development& Agroscience Discovery Early Product Insourcing Genomics Services Development Laboratory/ Testing Solutions Manufacturing Bioanalytical) (CTDMO) 21 countries Germany US 50 sites US
Slide 54: Leading Global BioPharma Network
Leading Global BioPharma Network 86 laboratories ~190,000 ~135,000 m2 m2 Leader in significant markets 38 laboratories Europe • Global leader in BioPharma Product Testing • Global leader in Discovery Pharmacology Services • Global leader in Agroscience CRO Services North America 144 laboratories in
Slide 55: BioPharma Services Evolution
BioPharma Services Evolution Started Select milestones / acquisitions Market position today 2011: Global infrastructure established (US, Among top 5 global players 2001 Central Laboratory / Bioanalytical Acquisitions: Netherlands, Singapore, China, India) 2005 Genomic Services Acquisitions: Among to
Slide 56: Clients & Peers
Clients & Peers Major Biopharma companies Innovative biotech Example clients Clients1 + regional & local players Typical contractual ➢ Product Testing: annual master service agreements relationship: ➢ Research & Development Services: project-based agreements Peers + regional & local competitors CONF
Slide 57: State of BioPharma Industry Funding
State of BioPharma Industry Funding BioPharma Funding ($bn) BioPharma Firepower ($tn) (IPOs, Follow-ons, Private and Public/Other) • BioPharma funding reached its third highest level in 2024, although it 120 1.3 remains more heavily focused on later 1.2 117 phase assets 102 • VC funds remain selecti
Slide 58: Continued growth of R&D candidates in pipeline
Continued growth of R&D candidates in pipeline and proportion of biologics to grow Total R&D pipeline size Market drivers 25,000 22,825 R&D pipeline size continues to grow substantially, 21,292 driven by intensity & speed of innovation 20,109 20,000 18,582 • Increased focus on biologics vs. small 17
Slide 59: Large Market Opportunities
Large Market Opportunities Novel innovations1 Chemicals Biologics Cell and gene therapies Opportunities for Eurofins Description / Increasing complexity in Complexity2 testing and clinical trials Altering of genetic material Increased likelihood of outsourcing of testing Traditional, biomarkers, Tra
Slide 60: Established leading player in Cell and Gene Therapy
Established leading player in Cell and Gene Therapy with comprehensive client offering and >10 years of experience Successful and long track Supported the development of: record with Cell and Gene • 21 of 30 FDA-approved1 Cell and Gene Therapy Products Therapies (C>) • All 9 CAR-T therapies Eurofi
Slide 61: DiscoveryOne: Integrating Testing and Consulting Capabilities
DiscoveryOne Enabling Drug Discovery Through the Integration of Our Testing and Consulting Capabilities 10 Eurofins Companies Integrated service offering Strong Growth >6X revenues Acquired 2013 Biotherapeutics & Acquired 2004 Acquired 2012 Chemistry Cell/Gene Therapy Discovery & Development Solutio
Slide 62: Solutions for Obesity and Diabetes Drug Discovery
Eurofins Discovery Provides a Wide Portfolio of Solutions for Obesity and Diabetes Drug Discovery and Development Market Leading GLP1R Agonist Anti-Obesity Drugs • Novo Nordisk Semaglutide • Eli Lilly Tirzepatide and Retatrutide Eurofins Discovery obesityLITE Panel of Cell Based Assays • The obesity
Slide 63: Clinical Diagnostics
Clinical Diagnostics CONFIDENTIAL AND PROPRIETARY - © Eurofins Scientific (Ireland) Ltd [2025]. All rights reserved. Any use of this material without the specific permission of an authorized representative of Eurofins Scientific (Ireland) Ltd is strictly prohibited. 63
Slide 64: Clinical diagnostics market enjoys robust growth drivers
Eurofins’ clinical diagnostics market enjoys robust growth drivers Outsourcing of Efforts to optimise Aging & growing Medical and scientific hospital’s internal or healthcare system population innovations state- owned costs laboratories Need for earlier & more diagnosis Advances in genomics, genetic
Slide 65: Portfolio of specialised clinical diagnostics laboratories
Eurofins has built a valuable portfolio of specialised clinical diagnostics laboratories Genomics Infectious Diseases Organ transplants Oncology Women’s Health Robust portfolio of infectious Testing services supporting Advanced suite of molecular Custom DNA & RNA synthesis, Supporting women before,
Slide 66: ESG
ESG CONFIDENTIAL AND PROPRIETARY - © Eurofins Scientific (Ireland) Ltd [2025]. All rights reserved. Any use of this material without the specific permission of an authorized representative of Eurofins Scientific (Ireland) Ltd is strictly prohibited. 66
Slide 67: Further progress in all dimensions of ESG
Further progress in all dimensions of ESG Environmental Social Governance Carbon emissions Carbon intensity by (ktCO2e) revenue (market-based) (tCO2e/€m) (market-based) Female representation amongst National CyberVadis Net Promoter Business Line and BU1 leaders score2 Score (NPS)® -13% -32% 71 952 6
Slide 68: Contributing to 16 of 17 UN Sustainable Development Goals
Eurofins is positively contributing to 16 of 17 United Nations Sustainable Development Goals (UNSDGs) We are aligned with 16 out of 17 UNSDGs both at central level, through the Eurofins Foundation and through the activities of our business lines CONFIDENTIAL AND PROPRIETARY - © Eurofins Scientific (
Slide 69: Almost all activities contribute to UN SDGs
Almost all Eurofins activities contribute to United Nations Sustainable Development Goals (UN SDGs) Share of Eurofins revenues by Sustainability Level Sustainability Definition1 Examples of Eurofins 99% level activities TIC services not eligible under 76% EU Taxonomy and not Level 3 supporting Taxon
Slide 70: Our Businesses are ESG positive
Our Businesses are ESG positive • We help improve health outcomes, ensure food safety and protect the environment • E.g., our Environment, Food and Feed Laboratories: ✓ Assess safety of the whole water cycle and analyse waste toxicity ✓ Monitor air pollution and soil quality ✓ Contribute to developi
Slide 71: Eurofins is an ESG enabler
Eurofins is an ESG enabler Supporting a healthy environment Emphasising sustainable testing We value biodiversity Our testing services help improve health We have a strong commitment to the The Eurofins Foundation supports outcomes, ensure food safety and protect 3R strategy multiple biodiversity co
Slide 72: Innovations
Innovations CONFIDENTIAL AND PROPRIETARY - © Eurofins Scientific (Ireland) Ltd 2025. All rights reserved. Any use of this material without the specific permission of an authorized representative of Eurofins Scientific (Ireland) Ltd is strictly prohibited. 72
Slide 73: We continue to lead our field in terms of innovation
We continue to lead our field in terms of innovation Some 2023 examples obesityLITE Panel ExPeCT CAR-T PeekabooTM Click DiscoveryAI Eurofins Discovery Eurofins Viracor launched DNA Diagnostics Center (DDC) Eurofins Discovery launched LeadHunterTM Services ExPeCT CAR-T to monitor and launched Peekabo
Slide 74: Onconext - Next Generation Oncology Diagnostics
Some of Eurofins’ Innovations: Onconext - Next Generation Oncology Diagnostics • Onconext from Eurofins Genoma is an advanced molecular diagnostics solution for personalised cancer care that uses state of the art technology • The team comprises multidisciplinary professionals specialised in molecula
Slide 75: Expanding global offering in non-invasive prenatal testing
Eurofins is expanding its global offering in non-invasive prenatal testing (NIPT) In September 2017, Eurofins’ Genoma introduced GeneSafeTM, the first non-invasive prenatal test that screens for both de novo (non-inherited gene mutations) and inherited single-gene disorders. ▪ GeneSafeTM detects ove
Slide 76: Proprietary automation technologies deployed across the global network
Eurofins is developing proprietary automation technologies and starting to deploy them across its global network Bespoke modular automation platform Attractive financial profile Multi-year investments underway • Significant OpEx for development • Part of CapEx for growth and efficiency Example Conta
Slide 77: Improved efficiency driven by IT digitalisation in U.S. Environmental labs
Case study: improved efficiency driven by IT digitalisation and redesign in our U.S. Environmental Testing laboratories Auto Reporting TAT saved 34% On average 18,000 reports are sent a month 34% quicker due to auto reporting Reports auto-reported 35% Reports sent via auto-reporting in an average mo
Slide 78: FY 2024 results
FY 2024 results CONFIDENTIAL AND PROPRIETARY - © Eurofins Scientific (Ireland) Ltd [2025]. All rights reserved. Any use of this material without the specific permission of an authorized representative of Eurofins Scientific (Ireland) Ltd is strictly prohibited. 78
Slide 79: FY 2024 results significantly higher than FY 2023
FY 2024 results significantly higher than FY 2023 Full Year 2024 Full Year 2023 • Revenues increased y-o-y by 6.7% supported by organic growth in the Core +/- Δ +/- Δ Business of 4.7%1 and a strong pace of Adjusted SDIs Reported Adjusted SDIs Reported (€m) Adjusted Reported acquisitions, with modera
Slide 80: Reduced SDIs overall, with mature scope close to 24% adjusted EBITDA
Reduced SDIs1 overall, with mature scope already very close to 24% adjusted EBITDA margins Mature scope Non-mature scope Total (€m) FY 2024 FY 2023 Δ FY 2024 FY 2023 Δ FY 2024 FY 2023 Δ +366 +71 +436 Revenues 6,555 6,189 396 325 6,951 6,515 (+6%) (+22%) (+7%) Reported EBITDA 1,511 1,326 +185 -71 -92
Slide 81: Organic growth by activity
Organic growth by activity Revenues (€m) Commentary Core Business1 • Food and Feed Testing: Growth recovery in Europe supported by pricing attainment and volume organic growth increases, while North America experienced strong growth driven by steady demand and market Life share gains. +4.7% 6,951 •
Slide 82: FY 2024 cash flow overview
FY 2024 cash flow overview FY 2023 FY 2024 Δ Δ% €m €m €m Reported EBITDA 1,234 1,439 +205 • Strong improvement in NWC intensity to 3.8% of revenues vs 5.1% in FY 2023 Change in net working capital (NWC) -65 44 +109 Income taxes paid -140 -161 -21 • Disciplined capex spend: Other effects1 -12 -4 +8 N
Slide 83: Distributable cash flow and prudent capital allocation
Eurofins has proven its ability to generate sizable distributable cash flow and prudently allocate proceeds to create significant value Capital allocation track record 2019-2024 Capital allocation in 2024 ∑: total 2019-2024 Maintenance 2019-2023 2024 ∆: change year 2019 to year • Est. 2.5% of sales
Slide 84: Net working capital
Net working capital 2.2% 2.1% 2.0% NWC intensity Inventory €146m €139m €142m • Lower net working capital 2022 2023 2024 intensity at 3.8% of revenues vs 5.1% in 2023 20.0% 20.4% 19.4% 5.1% • Stable inventory at 2.0% of receivable1 Accounts 4.2% revenues vs 2.1% in 2023 €1,342m €1,381m €1,400m 3.8% €
Slide 85: Strong credit profile and long maturities
Strong credit profile and long maturities Leverage1 Debt maturity profile2 (€m) Key Highlights Eurofins’ balance sheet remains very solid Hybrid (1st at the end of 2024: call) • Financial leverage1 declined to 1.9x at 3.2x the end of 2024 vs 2.0x at the end of 2023 and well within its targeted range
Slide 86: Objectives for FY 2025 and to FY 2027
Objectives for FY 2025 and to FY 2027 • Confirm long-term average organic growth target of 6.5% p.a. and potential average revenues from acquisitions of €250m p.a. over the period consolidated at mid-year • Adj. EBITDA margin objective for FY 2027 remains 24%. Objective for SDI at the EBITDA level r
Slide 87: Our long-term track record
Our long-term track record CONFIDENTIAL AND PROPRIETARY - © Eurofins Scientific (Ireland) Ltd [2025]. All rights reserved. Any use of this material without the specific permission of an authorized representative of Eurofins Scientific (Ireland) Ltd is strictly prohibited. 87
Slide 88: 2024 performance demonstrated resumption of pre-COVID profit and cash flow growth
Eurofins' performance in 2024 demonstrated resumption of pre-COVID historic profit and cash flow growth trends Δ 20193 to CAGR 20193 2020 2021 2022 2023 2024 2024 20193-2024 Revenues (m€) 5,439 6,718 6,712 (COVID revenues) 4,563 (~€800m) (~€1,400m) (~€600m) 6,515 6,951 + 52% +9% Adj. EBITDA (m€) 931
Slide 89: Strong value creation via continuous increase of ROCE
Strong value creation via continuous increase of ROCE in a disciplined capital structure Δ 20193 to CAGR 20191 2023 2024 2024 20193-2024 Adjusted EBITAS (m€) 574 842 1,017 + 77% +12% Robust profit growth and Capital Employed (m€) 6,304 8,085 8,338 + 32% +6% Returns disciplined deployment of ROCE (%)
Slide 90: Eurofins' M&A and share repurchases are prudent and value-accretive
Compared to multiples paid recently to acquire significant TIC companies, Eurofins’ M&A and share repurchases are a prudent and value-accretive use of its capital Eurofins Enterprise Value (EV) to LTM EBITDA multiples paid to acquire significant TIC companies 1 multiples 20.0x Eurofins M&A and own d
Slide 91: 5-year investment programme almost halfway to completion
5-year programme is almost halfway to completion with strong benefit of hub & spoke, start-ups and digitalisation expected by 2027 Breakdown of capital expenditures 2022-2024 Current status and outlook of strategic investment initiatives (€m) 2022 2023 2024 Investments in laboratory network Leasehol
Slide 92: Start-ups continue to contribute materially to growth
Start-ups continue to contribute materially to growth while losses are on the decline Long track record Strategic rationale Contributions by start-ups in FY 2024 Number of start-ups initiated Complements M&A strategy: • When acquisitions are too expensive or Organic growth contribution Programme Tot
Slide 93: Start-ups complement our M&A strategy
Start-ups continue to contribute growth and complement our M&A strategy 800 Start-ups revenues (€m) Key Highlights Program 1 (2000-09) 706 Program 2 (2010-13) 700 Program 3 (2014-18) 629 Program 4 (2019-21) 600 Program 5 (2022- ) • 18 new start-ups and 32 BCPs 520 established in 2024 500 • Contribut
Slide 94: Investments in start-ups are integral to long-term growth
Investments in start-ups are integral to long-term growth and value creation Revenue development Profitability development Cash flow development Revenues EBITDA Operating cash flow and capex Establish Ramp Establish Ramp Establish Ramp Group ~ average margin Year 1 2 3 4 5 0 Operating cash flow Year
Slide 95: Continued increase in site ownership
Continued increase in site ownership, creating significant long-term value Discretionary decision to increase proportion of owned sites Site ownership has high value: Surface area (m2) by site ownership Site ownership is key to expanding high-throughput laboratory campuses: • Unlocking economies of
Slide 96: Expanding proportion of owned sites
Expanding proportion of owned sites in our global laboratory network Examples of owned sites completed in 2024 Planned additions to owned sites in 2025-2026 Genomic Services Forensic Services Louisville, U.S. Tamworth, U.K. Leiden, Netherlands 6,500 m² 5,000 m2 Amersfoort, Netherlands Lenexa, Kansas
Slide 97: Site ownership has attractive financial fundamentals
Site ownership has attractive financial fundamentals Benefits Examples • Estimated rent savings of €92m1 in FY 2024 from owned sites • Estimated yield on rent savings from owned sites of 11% (based on the estimated net book value at end of 2024 of 1 Savings €850m) • Lower operating costs resulting f
Slide 98: Food Testing campus in U.S. demonstrates value of site ownership
Food Testing campus in U.S. demonstrates value of strategic ownership of key strategic sites 2019 2022 Advantage: significant space savings Madison, Wisconsin Laboratory surface area (m2) Sites 2019 ➢ Footprint optimisation – consolidated -41% consolidating smaller into large 2022 sites into large c
Slide 99: Proprietary IT solution offers more for clients and costs less
Eurofins’ proprietary IT solution offers more for clients and costs less than externally available software (example BioPharma Product Testing solutions suite) Eurofins’ proprietary BPT solution Benefits of Eurofins bespoke proprietary IT solutions Advantage: Differentiation and standardisation acro
Slide 100: Well positioned for big data analysis
Our technological capabilities and scientific expertise make Eurofins well positioned for “big data” analysis Reference Examples: clinical testing for samples rare diseases and oncology Sa mp le Big data Generate full set of Match repository Generate full set of Sa data from the tested against refer
Slide 101: Divestment of non-core Digital Testing asset
Divestment of non-core Digital Testing asset is another example of Eurofins value creation ability Built unique Digital Testing platform Creating value1 Recognised as a global leader in its space in terms Platform increased substantially in size of technology, innovation & service quality: during Eu
Slide 102: Among the best in the world in Total Shareholder Return
Eurofins has been among the best in the world in terms of Total Shareholder Return1 between 1997 and 2022 Superior performance Best among peers Among the best in the world 140 €126.44 @ 21/09/21 120 100 80 60 €64.78 40 20 €0.1829 0 24/10/1997 24/10/1998 24/10/1999 24/10/2000 24/10/2001 24/10/2002 24
Slide 103: McKinsey report on listed family-owned businesses
McKinsey report demonstrates that listed family-owned businesses achieve greater economic spreads1 than those that are not family-owned Critical mindsets of outperforming FOBs: Average economic spread1 for family-owned businesses (FOBs) and non-FOBs,2 % Focus on purpose beyond profits FOBs have a cl
Slide 104: IMD and Credit Suisse reports on family-owned businesses
IMD and Credit Suisse reports show that family-owned businesses grow faster and outperform their peers * Credit Suisse* Supported by superior growth and profitability Revenue and EBITDA growth is stronger, EBITDA margins are higher and cash flow returns are better. Family-owned companies also appear
Slide 105: 2024 marks 12 years of sector outperformance
2024 marks 12 years of sector outperformance Reported Reported Reported Reported Revenues (€m) Revenues (€m) Revenues (€m) Revenues (€m) +3% CAGR 7,000 7,000 7,000 (2012-2024) +17% CAGR +4% CAGR 7,000 (2012-2024) (2012-2024) 6,000 6,000 6,000 6,000 5,000 5,000 +5% CAGR 5,000 5,000 (2012-2024) 4,000
Slide 106: Conclusion: our sustainable competitive advantage
Conclusion: our sustainable competitive advantage Best in class technology and quality give best brand High-growth, non-cyclical markets driven by secular mega- protection trends N° 1 or 2 worldwide in most business lines Advancing globalisation but with very few global testing Operating in 60 count
Slide 107: Appendix
Appendix CONFIDENTIAL AND PROPRIETARY - © Eurofins Scientific (Ireland) Ltd [2025]. All rights reserved. Any use of this material without the specific permission of an authorized representative of Eurofins Scientific (Ireland) Ltd is strictly prohibited. 107
Slide 108: Response to Muddy Waters' allegations
All of Muddy Waters’ baseless allegations and disparaging claims have been disproved Subjects1 Eurofins’ response and refutations1 • Clearly demonstrated MW’s complete lack of understanding of Eurofins, its activities and representative peers Eurofins’ business 1 • Eurofins’ decentralised structure
Slide 109: Actions taken on subjects of importance to key stakeholders
Actions taken on subjects of greatest importance to Eurofins’ key stakeholders Subjects Actions taken • Following a shareholder vote at the 2025 Annual General Meeting, Eurofins increased the proportion of independent, non- executive directors on its Board of Directors to 67% by appointing Gavin Hil
Slide 110: Eurofins framework organised for focus and efficiency
Eurofins framework organised for focus and efficiency Eurofins network organisation • >1,000 companies (= legal entities, or LEs) in the Eurofins network • As a comparison, Bureau Veritas1 has 507 LEs and Intertek2 has approximately 600 LEs • Each laboratory is a LE led by a local leader (= managing
Slide 111: Cash audit
Cash audit The forensic tests performed by Ernst & Young Paris provide direct refutations to the baseless allegations in short seller reports published by Muddy Waters, LLC in June and July 2024: • No indication of irregularly altered documents was identified when performing dedicated forensic tests
Slide 112: M&A Value Creation: Covance Food Solutions 1/2
M&A Value Creation Case study: Covance Food Solutions (CFS) 1/2 Integration in US Food & Feed Testing Laboratory Network • Acquisition of CFS brought 9 facilities to US network • 7 new laboratories renovated or newly constructed to optimise hub & spoke network • 6 of the CFS facilities in the US wer
Slide 113: M&A Value Creation: Covance Food Solutions 2/2
M&A Value Creation Case study: Covance Food Solutions (CFS) 2/2 Key highlights Key drivers of value creation • CFS acquired in August 2018 from LabCorp • 12 facilities (9 US, 2 UK, 1 Singapore) • Acquisition price: €572m • Acquisition rationale: • Significantly strengthened scale and scientific dept
Slide 114: M&A Value Creation: TestAmerica 1/2
M&A Value Creation Case study: TestAmerica (TA) 1/2 Integration in US Environment Testing Laboratory Network • Acquisition of TA brought 24 laboratories to US network • 7 new laboratories renovated or newly constructed to optimise hub & spoke network • 10 of TA laboratories and 6 of Eurofins laborat
Slide 115: M&A Value Creation: TestAmerica 2/2
M&A Value Creation Case study: TestAmerica (TA) 2/2 Key highlights Key drivers of value creation • TestAmerica acquired in October 2018 from JSTI Group Environment testing and sampling affected by COVID in 2020 and 2021 • 24 full service testing laboratories and 40 service centres throughout the US
Slide 116: M&A Value Creation: EAG Materials & Engineering Sciences
M&A Value Creation Case study: EAG Materials & Engineering Sciences (MS/ES) Key highlights Key drivers of value creation • EAG acquired in September 2017 from • Acquisition rationale: Odyssey Investment Partners • Capabilities in Agroscience testing turned Eurofins into the global leader in Agroscie
Slide 117: M&A Value Creation: DiscoverX
M&A Value Creation Case study: DiscoverX Key highlights Key drivers of value creation • DiscoverX acquired in 2017 • 4 facilities (3 US, 1 UK) • Acquisition price: €114m • Acquisition rationale: Financial performance • DiscoverX is a leader in drug discovery products and services across all stages o
Slide 118: M&A has consistently created value
M&A has consistently created value Covance Food Solutions TestAmerica • Acquired in August 2018 • Acquired in October 2018 • Enabled Eurofins to become leader in US Food & Feed Testing • Enabled Eurofins to become leader in US Environment Testing market (previously 2nd-3rd largest player) market (pr
Slide 119: We have built a hard-to-replicate world-class infrastructure
We have built a hard-to-replicate world-class infrastructure Eurofins has been consistently investing more than its peers 12% 200% 180% 10% 160% Net Capex to Sales 140% 8% 120% 6% 100% 80% 4% 60% 40% 2% 20% 0% 0% 00-'04 05-'09 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 202
Slide 120: Definitions / Alternative Performance Measures (APMs)
Definitions / Alternative Performance Measures (APMs) APMs used in this presentation Adjusted results – reflect the ongoing performance of the mature and recurring activities excluding “separately disclosed items”. Separately disclosed items (SDI) – include: • one-off costs from network expansion, i
Eurofins Scientific — Investor Presentation (September 2025) on 6ix