Maravai Lifesciences Holdings, Inc. · NASDAQ:MRVI
Maravai Lifesciences — Investor Presentation (September 2026)
27 slides from Maravai Lifesciences's investor presentation, September 2026
Slide 1: Investor Presentation
NASDAQ: MRVI Investor Presentation September 2026
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains, and our officers and representatives may, from time to time make, "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Investors are cautioned that statements
Slide 3: Use of Non-GAAP Financial Measures
Use of Non-GAAP Financial Measures This presentation presents certain "non-GAAP Measures" as defined by the rules of the Securities and Exchange Commission (the "SEC") as a supplement to results presented in accordance with accounting principles generally accepted in the United States of America ("G
Slide 4: Maravai LifeSciences Overview
Maravai LifeSciences Overview Enabling innovation in mRNA, gene editing, cell and gene therapy, vaccines and biologics drug manufacturing 4 ©2026 Maravai LifeSciences.
Slide 5: TriLink
TriLink Highly modified nucleic acids, enzymes and related products and services supporting vaccines, therapeutics, gene editing, and cell and gene therapies from discovery to commercialization. mRNA: Proprietary novel mRNA technologies CleanCap® and ModTail with robust R&D and clinical pipeline CDM
Slide 6: Cygnus
Cygnus Critical assays and analytical services for detecting impurities during biotherapeutic process development and commercial manufacturing. Host cell protein (HCP) assay portfolio including Mass Spectrometry based assays Broad adoption across novel monoclonal antibodies, biosimilars, Contract se
Slide 7: Two reporting segments, Cygnus and TriLink; different expected growth dynamics
Two reporting segments, Cygnus and TriLink; different expected growth dynamics ~65% of revenue* TriLink diversified genetic-medicine platform HSD ex commercial/LDD incl. commercial % of Revenue* 5-year Expected Growth Rate mRNA Discovery, GMP, and Commercial ~35% HSD/LDD CDMO End-to-end contract man
Slide 8: We participate at every stage of mRNA drug development
We participate at every stage of mRNA drug development Just as NVIDIA does not build the AI models but supplies the compute every model runs on, Maravai does not develop the drug, we supply the differentiated leading technologies and services that hundreds of mRNA and genetic-medicine programs are b
Slide 9: Every Clinical phase advancement increases our potential revenue per program
Every Clinical phase advancement increases our potential revenue per program GMP Consumables Revenue per program Estimated relative scale Preclinical Phase 1 Phase 1/2 Phase 2 Phase 3 On market Estimated chance of reaching the market 10% 12% 15% 58% Years to launch ~10+ ~8 - 10 ~6 - 8 ~5 - 6 ~4 Comm
Slide 10: Modality and dosing drive mRNA usage and value at commercial peak
Modality and dosing drive mRNA usage and value at commercial peak Relative rating, lowest ○○○○○ to highest ●●●●● Not indicative of absolute number of patients Modality Patients per year × Doses per year × mRNA per dose × Price per unit = Expected value per program Prophylactic vaccine Low outside a
Slide 11: Pipeline Value: Current clinical phase and modality
Pipeline Value: Current clinical phase and modality Estimated Current Clinical Program Mix % of GMP clinical programs, ex-COVID ~40% ~40% ~20% ~50 GMP Customers in 2026 Avg. 2–3 programs per GMP Phase 1 customer Phase 1/2 Majority of our clinical pipeline is for expected higher-value modalities Phas
Slide 12: New programs layer in ModTail and GMP Enzymes on top of CleanCap
New programs layer in ModTail and GMP Enzymes on top of CleanCap Programs in the clinic today are using CleanCap. Programs entering the clinic now can also use ModTail and GMP Enzymes — more Maravai content in every new program. In the clinic today Entering the clinic next: more content per program
Slide 13: 96% of top Biopharma R&D spenders are Maravai customers
96% of top Biopharma R&D spenders are Maravai customers Top 25 R&D spenders1 96% Source: Drug, Discovery & Development, April 30, 2025 13 ©2026 Maravai LifeSciences.
Slide 14: Proven leadership team with significant turn-around experience
Proven leadership team with significant turn-around experience ● = New to company or promoted to new role since August 2025 Corporate Realignment Bernd Brust Raj Asarpota Chanfeng Zhao, PhD Chief Executive Officer and Executive Vice President and Senior Vice President and Board Member Chief Financia
Slide 15: Stabilization post organizational changes achieved
Stabilization post organizational changes achieved >$65 M +$15 M • >$65M costs removed, cost reduction program exceeded >$50 M initial $50M target (previously) • Return to positive adjusted EBITDA1, 1H’26 saw $50.0 M improvement over 1H’25 • 1H base revenue2 +9% YoY; TriLink base up 13% 1. Reconcili
Slide 16: Executing on our three strategic priorities
Executing on our three strategic priorities Commercial Operational R&D Focus Execution Excellence • Deeper engagement with • Centralized operations, clearer • Prioritizing highest return biopharma customers ownership and accountability opportunities at TriLink and • Expanding e-commerce and • Implem
Slide 17: 1H'2026 financial highlights
1H’2026 financial highlights 1H Revenue Highlights 1H ADJUSTED 1H ADJUSTED 1H REVENUE GROSS MARGIN2 EBITDA2 $117.3 M 62.5% $29.0 M • TriLink base revenue1 growth +13% YoY driven by GMP +24% consumables and Discovery • Cygnus +2% YoY; five consecutive quarters of growth Base revenue growth of 9% YoY1
Slide 18: From COVID-Dependent to Streamlined Growth Platform
From COVID-Dependent to Streamlined Growth Platform Key milestones in Maravai's transformation — new management, decisive cost alignment, and return to positive Adjusted EBITDA $50M+ Cost Savings Plan Wind-Down Begins Strong Execution Announced COVID GMP falls to Q2 earnings call: Advanced innovatio
Slide 19: Positioning Maravai for Long-Term, Sustainable, Profitable Growth
Positioning z Maravai for Long-Term, z Leading supplier of critical solutions for life sciences from discovery to commercialization Sustainable, Profitable z Focus on commercial execution, operational excellence and innovation Growth Improving financial profile with strong growth and EBITDA margin z
Slide 20: Thank you
Thank you ir@maravai.com ©2026 Maravai LifeSciences.
Slide 21: Appendix for forward-looking statements and non-GAAP measures
Appendix for forward-looking statements and non-GAAP measures 21 ©2026 Maravai LifeSciences.
Slide 22: Forward-Looking Statements — Important Factors
Forward-Looking Statements — Important Factors Important factors that could cause actual results to differ materially from our forward-looking statements include, among others: • Customer spending on and demand for TriLink and Cygnus products and services, and dependency on a limited number of custo
Slide 23: Non-GAAP reconciliations
Non-GAAP reconciliations This presentation contains financial measures that have not been calculated in accordance with accounting principles generally accepted in the U.S. (GAAP). These non-GAAP measures include: Adjusted EBITDA, Adjusted Net Income (Loss), Adjusted fully diluted Earnings Per Share
Slide 24: Net Loss to Adjusted EBITDA (non-GAAP)
Net Loss to Adjusted EBITDA (non-GAAP) (in thousands, except per share amounts) 24 ©2026 Maravai LifeSciences.
Slide 25: Net Loss attributable to Adjusted Net Loss and Adjusted Fully Diluted Loss Per Share
Net Loss attributable to Adjusted Net Loss (non-GAAP) and Adjusted Fully Diluted Loss Per Share (non-GAAP) 25 ©2026 Maravai LifeSciences.
Slide 26: Explanatory Notes to Reconciliations
Explanatory Notes to Reconciliations (1) Refers to incremental costs incurred to execute and integrate completed acquisitions, including retention payments related to integration that were negotiated specifically at the time of the Company’s acquisition of Alphazyme, which was completed in January 2
Slide 27: Reconciliation of Gross Profit (GAAP) to Adjusted Gross Margin (non-GAAP)
Reconciliation of Gross Profit (GAAP) to Adjusted Gross Margin )non-GAAP) (in thousands) ©2026 Maravai LifeSciences.
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