Slide 1: FY 2025 results presentation
PolyPeptide Group AG FY 2025 results presentation 12.03.2026 Baar, Switzerland
Slide 2: Disclaimer
2 Disclaimer This presentation (the "Presentation") has been prepared by operates. While the Group believes that such research and Alternative Financial Performance Measures (APM) PolyPeptide Group AG (“PolyPeptide” or the “Group”). The estimates are reasonable and reliable, they, and their underlyi
Slide 3: Q&A
Q&A The presentation will be followed by a Q&A session. Anyone who wishes to ask a question, or make a comment can do it in the following ways: • Through the telephone by pressing * and 1 (please register on the website to receive the personal dial-in details). In case of assistance please press * a
Slide 4: Agenda
Agenda 1 Business update Juan Jose Gonzalez, CEO 2 2025 financial results Marc Augustin, CFO 3 Guidance Juan Jose Gonzalez, CEO 4 Q&A All 4
Slide 5: 2025 with strong growth and marked improvement in profitability
2025 with strong growth and marked improvement in profitability Growth in revenue and profitability • +16.0% revenue increase versus 2024 at constant currency rates, mainly driven by metabolic therapeutics • EBITDA margin improving +4.5 percentage points to 12.0% in 2025; EBITDA of EUR 46.8 million
Slide 6: Peptides - one of the most attractive markets for CDMOs
Peptides - one of the most attractive markets for CDMOs Global therapeutic peptide market potential1 Peptide drugs in clinical development2 (USD bn) (Phase 1-3, Pre-registration) Total 572, split by therapeutic area in % ~175 Metabolic CAGR ~15% Oncology Neurology 22% CAGR Cardiovascular 33% ~15% In
Slide 7: Metabolic opportunity continues to expand rapidly
Metabolic opportunity continues to expand rapidly Obesity co-morbidities Strong top players of today New entrants are also advancing significantly expand market1 next generation molecules Major depressive disorder Alzheimer’s disease Some cancers Ongoing success of blockbuster drugs Obstructive slee
Slide 8: PolyPeptide well-positioned with deep peptide expertise and multi-site network
PolyPeptide well-positioned with deep peptide expertise and multi-site network Multi-site network Torrance, US Malmö, SE Clinical and commercial Clinical and commercial manufacturing manufacturing Malmö (SE) Braine-l’Alleud (BE) San Diego, US Torrance (US) Strasbourg (FR) Braine-l’Alleud, BE Clinica
Slide 9: Sharpened growth strategy to maximize potential
Sharpened growth strategy to maximize potential Vision Most innovative peptide CDMO Competitive Innovation Development Modularity Advantages Multi-site network Operational/quality Talent, culture, Foundation Industrial-scale capabilities excellence and sustainability 9
Slide 10: PolyPeptide's innovation agenda tailored to customer needs
PolyPeptide’s innovation agenda tailored to customer needs In-house proprietary technology implementation Sustainable manufacturing and Flexible design and rapid Process speed and throughput regulatory compliance deployment Flexible Process technology design platform Optimized standards volumetric A
Slide 11: Strategic relationships for end-to-end offering
Strategic relationships for end-to-end offering Starting materials Peptide API Drug Product • Broaden sourcing options to • API manufacturing • Expertise in formulation, meet industrial scale demand • API process and analytical fill/finish, and packaging • Secure raw material savings development • S
Slide 12: Strong development pipeline, converting to commercial
Strong development pipeline, converting to commercial Number of projects • PolyPeptide is engaged in over one third of phase III projects in the global peptide market1 264 • Proven track record & reliability – Quality 247 166 excellence, regulatory expertise, and delivery Other performance clinical
Slide 13: Modular concept: The smart way of expanding peptides capacity
Modular concept: The smart way of expanding peptides capacity 1 Speed Benefits of Modularity: 1• Speed Accelerated construction timeline, time-to-market Supply chain Execution resilience risk 5 2 2• Low execution risk Existing manufacturing remains uninterrupted while expanding 3• Quality assurance
Slide 14: Malmö modular expansion on track to double SPPS capacity
Malmö modular expansion on track to double SPPS capacity Project highlights: • Metabolic program targeted investment • Investment of EUR ~100 million largely funded by a large pharmaceutical player • Modular concept — accelerated timeline compared to previous expansions − 2024: start of construction
Slide 15: PolyPeptide's metabolic revenues have more than tripled since 2021
PolyPeptide’s metabolic revenues have more than tripled since 2021 Revenue by therapeutic area PolyPeptide’s broad exposure to metabolics2: (EUR m) CAGR1 389 15.5% • Metabolic increased from 22% of total revenue in 2021 to 57% of total revenue in 2025 282 169 1.9% • 37 metabolic development projects
Slide 16: PolyPeptide transformation towards commercial and large pharma underway
PolyPeptide transformation towards commercial and large pharma underway Revenue by business area Revenue by customer type (EUR m) CAGR1 (EUR m) CAGR1 389 15.5% 389 15.5% 58 15.4% 282 153 10.3% 282 87 7.0% Covid 63 Covid 63 Other 33 Development 104 Biotech 67 236 19.6% 244 19.5% Large Commercial 115
Slide 17: Capacity expansion plans on track and expanding further in the US and India
Capacity expansion plans on track and expanding further in the US and India Today 2021 2024 2028 Capacity Expansion Modularity Large-scale SPPS production in Braine-l’Alleud Operational, ramping up: SPPS capacity in Strasbourg Ongoing work to double SPPS capacity in Malmö India expansion Downstream
Slide 18: Strong support from customers for capacity expansion projects
Strong support from customers for capacity expansion projects Capital Expenditures Financing of growth investments (EUR m) Capex in % of revenue • Net inflow of EUR 156.2m from customer prepayments 28.2% received between 2023-2025 110 • Main areas of customer support: 26.1% • Capacity reservation fe
Slide 19: Continued focus on strengthening our organization and capabilities
Continued focus on strengthening our organization and capabilities • Marc Augustin, CFO, resigning for personal reasons. Tim Brandl appointed Interim CFO • Strengthening of global capabilities - Supply Chain, Procurement and Finance • Talent Upgrades in Torrance across development, manufacturing, an
Slide 20: Agenda
Agenda 1 Business update Juan Jose Gonzalez, CEO 2 2025 financial results Marc Augustin, CFO 3 Guidance Juan Jose Gonzalez, CEO 4 Q&A All 20
Slide 21: Revenue growth driven by ramp-up and strong demand
Revenue growth driven by ramp-up and strong demand EUR m +15.6% +16.0% 389.3 390.6 1.3 17.3 • YoY revenue growth of 15.6%; 16.0% at CCR1 • Development revenue +29.9%, based on 35.3 continued demand, specifically from metabolics 336.8 • Commercial revenue up 7.9%, reflecting ramp-up of new large-scal
Slide 22: Continued EBITDA improvement – PolyPeptide on track
Continued EBITDA improvement – PolyPeptide on track EUR m 7.5% 13.1% 12.0% 1.4 • Operational progress and ramp-up of large- 16.4 scale SPPS facility in Braine drove marked 50.9 improvement in EBITDA margin 4.1 46.8 • Ahead of further expected growth in 2026, 40.6 increased FTE cost (incl. general in
Slide 23: Result for the period impacted by currency movements
Result for the period impacted by currency movements Summary P&L EUR m 2024 2025 Delta Financial result Revenue 336.8 389.3 52.5 • Interest expenses were comparable EBITDA 25.4 46.8 21.4 with the prior year period margin % 7.5 12.0 4.5 • Revaluation (unrealized) of inter- Depreciation, amortization
Slide 24: Strong operating cash flow, supporting accelerated investment
Strong operating cash flow, supporting accelerated investment EUR m Operating cash flow • Strong operating cash flow based on 38.9 improved profitability, disciplined working capital management and further prepayments received from customers 38.6 111.7 • Net cash flow from investing activities of 0.
Slide 25: Multi-layered financing strategy
Multi-layered financing strategy Key pillars strengthened in FY 2025, increasing flexibility 1 +4.5pp in EBITDA Improve profitability and cash flow margin vs FY 2024 2 EUR 27.4 m net inflow Customer funding support from customer prepayments 3 + EUR 40.0 m secured in 2025 Utilization of credit facili
Slide 26: Agenda
Agenda 1 Business update Juan Jose Gonzalez, CEO 2 2025 financial results Marc Augustin, CFO 3 Guidance Juan Jose Gonzalez, CEO 4 Q&A All 26
Slide 27: Continued growth and further profitability improvement expected
Continued growth and further profitability improvement expected Priorities for 2026: Revenue • Meet increasing demand, especially in growth vs 2025 at CCR1 20-25% metabolic • Execute capacity expansion in Malmö and Torrance, ramp-up in Strasbourg and India • Advance negotiations for large commercial
Slide 28: 2026 guidance reflects strong momentum
2026 guidance reflects strong momentum FY 2023 FY 2024 FY 2025 Sales: EUR 320.4m Sales: EUR 336.8m Sales: EUR 389.3m EBITDA Margin: -1.9% EBITDA Margin: 7.5% EBITDA Margin: 12.0% 19.0% 11.1% 222 7.1% 202 2.7% 189 2.1% 167 -14.7% 132 135 Sales EBITDA Margin % H1 2023 H2 2023 H1 2024 H2 2024 H1 2025 H
Slide 29: Confirming PolyPeptide's mid-term outlook
Confirming PolyPeptide’s mid-term outlook • Strategy to be the most innovative peptide CDMO, anchored on three Double 2023 revenue by 2028 competitive advantages: − Innovation focused on green chemistry and process intensification − Superior pipeline development EBITDA margin approaching 25% by 2028
Slide 30: Agenda
Agenda 1 Business update Juan Jose Gonzalez, CEO 2 2025 financial results Marc Augustin, CFO 3 Guidance Juan Jose Gonzalez, CEO 4 Q&A All 30
Slide 31: Q&A
Q&A The presentation will be followed by a Q&A session. Anyone who wishes to ask a question, or make a comment can do it in the following ways: • Through the telephone by pressing * and 1 (please register on the website to receive the personal dial-in details) In case of assistance please press * an
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Slide 33: Appendix
Appendix PolyPeptide Group AG polypeptide.com 33
Slide 34: Consolidated income statement
Consolidated income statement 1 January – 31 December 34
Slide 35: Consolidated statement of financial position
Consolidated statement of financial position As at 31 December 35
Slide 36: Consolidated statement cash flow
Consolidated statement cash flow 1 January – 31 December 36
Slide 37: Contact and calendar
Contact and calendar Contact Events 2026 Tim Brandl 13 March 2026 Roadshow Zurich with ZKB Director FP&A and Investor Relations 16 March 2026 Roadshow London with RBC T: +41 435 020 580 E: tim.brandl@polypeptide.com 24 March 2026 Jefferies Pan-European Mid-cap Conference (London, UK) 31 March 2026 H
Slide 38: Thank you
Thank you PolyPeptide Group AG polypeptide.com
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