Slide 1: Evotec SE, Analyst Call, 2024-04-24
Evotec SE, Analyst Call, 2024-04-24
Slide 2: Disclaimer
Disclaimer This presentation (including any information which has been or may be supplied in writing or orally in connection herewith. or in connection with any further inquiries) is being delivered on behalf of Evotec SE (the “Company”, “we,” “our” or “us”). This presentation is made pursuant to Se
Slide 3: Welcome! The Team
e, Welcome! The Team Ve Q Iris Léw-Friedrich Laetitia Rouxel Chair of Supervisory Board CFO q ‘ < ad 4 Craig Johnstone Cord Dohrmann coo cso 3 Matthias Evers CBO @ aD Mario Polywka Interim CEO
Slide 4: Welcome, Christian!
e, Welcome, Christian! “T am delighted to join Evotec SE as its new CEO, and I look forward to leading the Company into the next phase of its evolution. Together with the great people at Evotec and our partners we will continue to drive full speed for Medicines that Matter.“ Christian Wojczewski Chi
Slide 5: Welcome, Aurélie!
e, Welcome, Aurélie! “I discovered Evotec as a company with incredibly smart and committed people who are passionate about the noble work they do every day. I am eager to become part of the Evotec family and devote my passion to nurturing, developing, and growing the Evotec talent.“ Aurélie Dalbiez
Slide 6: Agenda
Agenda 1. 2023 Performance review 2. Priority reset, Guidance & Outlook 3. Questions & Answers
Slide 7: Agenda
» np 3 Agenda . 2023 Performance review . Priority reset, Guidance & Outlook . Questions & Answers
Slide 8: Resilience in a challenging year
ry Resilience in a challenging year 2023 at a glance Qi Excellent start to the year + Strongest Q1 in Evotec’s history + Two contracts extended/ expanded with BMS in neurodegeneration and targeted protein degradation + New collaboration with Janssen in oncology * Revenue growth of 30% Q2 External sh
Slide 9: Revised guidance 2023 fully met
e, Revised guidance 2023 fully met Guidance 2023 Guidance 20233 Results 2023 Group revenues €750- 790m Gianna) (€.765 — 805 m) C78eaw Unpartnered R&D? €60-70m €64.8m Adjusted EBITDA €60-80m (at constant fx-rates') (€70 - 90 m) sein Approx. € 200 m continued investments for €213m enabling and support
Slide 10: Continued growth despite multiple challenges
e, Continued growth despite multiple challenges Condensed income statement 2023 — Evotec SE and subsidiaries in€m 2023 2022 Change Comment + Cyber-related impact (especially Revenues 781.4 751-4 4% Development and Cyprotex) of which Just — Evotec Biologics (JEB) 108.4 513 >110% + Challenging markets
Slide 11: Significant partnerships behind business momentum 2023
e, Significant partnerships behind business momentum 2023 Key transactions 2023 (ll Bristol Myers Squibb” SANDOZ Technology-Partnership for biosimilars development and manufacturing + Portfolio of next-generation biosimilars Broadened and deepened strategic alliance in neurodegeneration + Extension
Slide 12: Differentiated offerings driving the business
e, Differentiated offerings driving the business Segment information 2023 — Evotec SE and subsic Inter- EVT EVE segment —_Evotec + EVT Execute in€ mt Execute Innovate elimination Group ~ Total revenue stable — Revenues excluding Just — Revenues 738.7 266.9 (224.2) 781.4 Evotee Biologics (JEB) -8% 5
Slide 13: Gross margin with room for improvement
ry Gross margin with room for improvement Revenues and gross margin overview — Evotec SE and subsidiaries Revenues with partners in€m 6 7514 204.7 513 495-4 EVT Exceute (excl, JEB) ast — Evotee Biologics (EB) 781.4 266.9 +30% 1084 +111% 406.1 -18% 2023 EVT innovate Gross margin in % git 27.0 23.2 22
Slide 14: Q4 2023 providing strong call for action
e, Q4 2023 providing strong call for action Condensed income statement Q4 2023 — Evotec SE and subsidiaries in€m Q4 2023 Q4 2022 Change Revenues 201.3 240.7 (16 )% Gross margin 18.7% 34.3% (a550)bp R&D expenses (20.2) (21.3) (5)% SG&A expenses (42.1) (46.3) (7% Impairment of intangible assets & good
Slide 15: Market dynamics and Q4 2023 performance triggered business review
e, Market dynamics and Q4 2023 performance triggered business review Performance review summary (SWOT analysis) + Expertise, agility, and scientific track record + Internal complexity and operational inefficiencies + Integrated, differentiating capabilities (e.g., PanOmics) + (Temporary) mismatch of
Slide 16: Agenda
e, Agenda 1. 2023 Performance review 2. Priority reset, Guidance & Outlook 3. Questions & Answers 3
Slide 17: For 2024, we expect to continue operating in a challenging market
ry For 2024, we expect to continue operating in a challenging market Summary of current “buyer’s market” dynamics Demand — * Cost containment initiatives persist across pharma R&D and biotech + Funding “appetite” mostly towards (early) clinical assets Options for buyers Funds/ Money = + Scrutiny aro
Slide 18: We commit to three priorities towards profitable growth
e, We commit to three priorities towards profitable growth Priority reset Focus on strengths and drive smart partnering Adjust organisation and Puta strong fooipriat 3) geamnfinees 1 2
Slide 19: Focus on strengths and drive smart partnering
e, 1 Focus on strengths and drive smart partnering Aligning market opportunitites with core expertise Top therapy areas — Total deal values 2023 ($ bn) Top modalities — Total deal values 2023 ($ bn) Biologics, Antibody, Cancer 86.4 DNA,RNA, Protein, ete. | 803 ‘Small molecule t 38.6 Homey aad Gene t
Slide 20: Adjust organisation and footprint to new reality
e, 2 Adjust organisation and footprint to new reality Targets and levers of the restructuring program Targets Organisational structure and operating model Footprint & capacity optimisation Enabling function efficiency HC focus Non-HC focus Key levers (examples) Procurement excellence Footprint right
Slide 21: New segment reporting reflecting a leaner organisational structure
e, 2 New segment reporting reflecting a leaner organisational structure New reporting structure as of Qi 2024 — accountability, efficiency, visibility and simplicity From... EVT Innovate | MEDICINES THAT EVT Execute MATTER | + Shared R&D: ONE end-to-end R&D platform with > 500 partners + Minimal int
Slide 22: Resetting — faster than market growth, more profitable
Resetting — faster than market growth, more profitable Guidance 2024 Guidance 2024 YE 2023 Comment Low double Navigating in a challenging Group revenues digit percentage €781.4m market with differentiated growth offering Mid-single to low R&D! double digit €64.8m percentage reduction Mid double digi
Slide 23: Beyond 2024, we forecast changes in our revenues mix
Beyond 2024, we forecast changes in our revenues mix Four layers of revenue generation Shared R&D > 500 Partners 93% Retention > 100 partner's with revenues > €1m > 80% of revenues, today Just — Evotec Biologics > € 800 m Closed Sales > 20 partners > 50 assets on the platform ~15% of revenues, today
Slide 24: Reset will be reflected
Reset will be reflected Our journey 2025 & beyond Focus on profitable growth Aspire global leadership Build innovation seeds 2015 2020 - 2030 + Revenues: €128 m + Revenues: € 501m * Continued rev + Adj. EBITDA: €9 m + Adj. EBITDA: € 107m + R&D: €18m + R&D" € 69m + Co-owned projects®: 49 + Co-owned p
Slide 25: Putting a strong team in place
e, 3 Putting a strong team in place CEO & CPO coming on board f yi Christian Wojezewski Appointed as Member of the Management Board in the role of Chief Executive Officer as of 1 July * 2017 — 2022 CEO of Mediq BV * 2005 — 2017 Various leadership positions at Linde Group, since 2007 member of the Gr
Slide 26: Upcoming important dates
e, Upcoming important dates Financial calendar 2023 Quarterly Statement Q1 2024 22 May 2024 Ooo ad Annual General Meeting 2024 10 June 2024 SS sHAPtNe “year i Medicines Half-year 2024 Interim Report 06 August 2024 that Matter Capital Markets Day 10 October 2024 Quarterly Statement 9M 2024 08 Novembe
Slide 27: In a nutshell ...
e, In a nutshell ... Key takeaways Resetting for profitable growth Strong demand for core offerings - double digit top-line growth Creating a right-sized & efficient organisation Putting an even stronger team in place
Slide 28: pRescancHneveRsTors
pRescancHneveRsTors
Slide 29: Appendix
Appendix
Slide 30: Global view and deep experience for best governance
Global view and deep experience for best governance Independent and diverse Supervisory Board Iris Low-Friedrich CMO-UCBS.A. a2 ‘Mario Polywka Interim CEO of Evotec SE* + Since 2014 Member of, Evotec’s Supervisory Board. (2021 Chairperson) + Since 2008, CMO of UCBS.A., Brussels (Belgium) + 2001-2009
Slide 31: Sustainable growth enabled by strong culture, values & people
Sustainable growth enabled by strong culture, values & people Innovation — Entrepreneurship — Collaboration 46% oO Men 33% 93 Share of PhDs Nationalities 54% Women 498 4952 5,160 32% Women in Senior Management 38 Average age > 5,000 talents
Slide 32: Keeping the promise
e, Keeping the promise ESG & Sustainability — Measures taken in 2023 + Environment — Scope 1 & 2 and supplier related Scope 3 SBTi near-term targets validated and approved — Reduction of Scope 1 & 2 emissions by 29% far above the 4.5% SBTi targets trajectory — Increased the consumption of renewable
Slide 33: Putting the money where the mouth is
e, Putting the money where the mouth is ESG metrics design 2024 to determine STI and ESG Modifier in revised LTI plan 3 Drive improvement in SOX compliance & digitalization for more 9 efficient work for all employees & Implement 3 initiatives addressing key points of first engagement S) survey, and
Slide 34: EVOequity portfolio making progress
e, EVOequity portfolio making progress Operational VC model - diversified portfolio with multiple shots on goal At Equity Holding (220%) or significant influence curexsy sp bd @ Gove QUANTI Topas @ Terapeutes eter AUZOBAHN LABS Minority Shareholdings (<20%) ARGOBIO BLACKSMITH Cajal Neuroscience oe A
Slide 35: Investor Relations contact
#RE scancuneveRsTors Volker Braun EVP Head of Global Investor Relations & ESG +49 (0) 40 228 999 338 (@) +49 (0) 151 1940 5058 (m) volker.braun@evotec.com