Slide 1: Presentation of financial results Q4'25 and FY 2025
Presentation of financial results Q4’25 and FY 2025 28 April 2025
Slide 2: Management Board of Mabion
Management Board of Mabion Gregor Kawaletz Areas of responsibility: Designing and executing the Company’s business strategy Chief Executive Officer Acquiring strategic business partners Overseeing regulatory compliance, quality management, finance, HR, legal, administration, IR, PR, and ESG Represen
Slide 3: Agenda
Agenda Executive Summary Executing the 2025–2030 Strategy Financial results for Q4’25 and FY 2025 3
Slide 4: Executive Summary
Presentation of financial results Q4’25 and FY 2025 Executive Summary Selected key events in 2025 and up to the publication date of the report Finance Revenues in Q4 2025 generated mainly under services provided to Novavax and other CDMO projects Revenue Cash High cost discipline at every level – in
Slide 5: Executing the 2025–2030 Strategy
Executing the 2025–2030 Strategy
Slide 6: The prerogatives for the Strategy 2025-2030
Presentation of financial results Q4’25 and FY 2025 The prerogatives for the Strategy 2025-2030 From short-term to long-term perspectives Tactical Strategic Vision The CDMO business Co-development is being Through innovation and re-positioning of CD20 monetizes the existing actively scaled: building
Slide 7: Why Mabion Now?
Presentation of financial results Q4’25 and FY 2025 Why Mabion Now? What has changed in the last 12 months Strategic Repositioning "Mabion is not a From a conventional CDMO to IP commodity CDMO. We are owning biologics development and a science-driven, GMP- manufacturing partner. certified biologics
Slide 8: Major wins in the last months validate our new direction
Presentation of financial results Q4’25 and FY 2025 Major wins in the last 12 months validate our new direction Execution proof points - contracts signed and in delivery 1. New BD structure operational, 4. UK Client: SOW → MSA Progression Lean management program launched Progressed from Statement of
Slide 9: From PLN -18,2M EBITDA for 4Q'26 to Break-Even by December 2026
Presentation of financial results Q4’25 and FY 2025 From PLN -18,2M EBITDA for 4Q’26 to Break-Even by December 2026 Two levers: revenue ramp + operational efficiency Starting Point + Operational + Cost Discipline Target + Revenue Ramp Efficiency Q4 2025 EBITDA UK MSA + Maintained –4% y/y Q4 2026 EBI
Slide 10: A Measurable Roadmap - Hold Us Accountable to These Catalysts
Presentation of financial results Q4’25 and FY 2025 A Measurable Roadmap - Hold Us Accountable to These Catalysts Key value drivers across Q1–Q4 2026 Achievement of OEE and lead time Entry in to segment with operational targets. strong growth potential in Revenue ramp-up from Poland and EU with unme
Slide 11: PLN 37m Bridge Financing Secured - Fully Funded to Execute Our Strategy
Presentation of financial results Q4’25 and FY 2025 PLN 37m Bridge Financing Secured - Fully Funded to Execute Our Strategy Transparent liquidity position and recent financing actions Current Recent Financing Capital Allocation Position Actions Priorities PLN 37m bridge financing Execution of signed
Slide 12: GMP-Certified Infrastructure, Proven Track Record, and Scientific Excellence
Presentation of financial results Q4’25 and FY 2025 GMP-Certified Infrastructure, Proven Track Record, and Scientific Excellence Mabion's tangible competitive advantages Infrastructure & Credentials Track Record & Recognition GMP-certified manufacturing plant: >PLN 350m in CDMO revenues delivered Ko
Slide 13: Strategic Expansion into Next-Generation Biologics and Advanced Therapies
Presentation of financial results Q4’25 and FY 2025 Strategic Expansion into Next-Generation Biologics and Advanced Therapies Execution across ADCs, process innovation and ATMP entry validates Mabion’s transition into a high-value biologics partner 1. Continuous collaboration on ADCs 3. Advanced The
Slide 14: Our focus areas to drive Mabion's growth
Presentation of financial results Q4’25 and FY 2025 Our focus areas to drive Mabion’s growth Focused portfolio across high-growth biologics segments, combining CDMO services, co-development and selective innovation Project Activity Characteristics Niche products CDMO Biosimilars USA, MENA and Asia r
Slide 15: Mabion is Executing. The Thesis is Validated. The Trajectory is Clear.
Presentation of financial results Q4’25 and FY 2025 Mabion is Executing. The Thesis is Validated. The Trajectory is Clear. Three reasons to follow Mabion in 2026 Execution Commercial Traction Financial Trajectory Strategy is in motion, validated USD 258m pipeline growing Fully funded through PLN 37m
Slide 16: Financial results for Q4'25 and FY 2025
Financial results for Q4’25 and FY 2025
Slide 17: P&L statement
Presentation of financial results Q4’25 and FY 2025 P&L statement Growing revenues in each quarter of this year, but not yet sufficient to cover current operating costs PLN m 1Q’23 2Q’23 3Q’23 4Q’23 1Q’24 2Q’24 3Q’24 4Q’24 1Q’25 2Q’25 3Q’25 4Q’25 In Q4’25, the Company generated a total of Total inco
Slide 18: Balance sheet
Presentation of financial results Q4’25 and FY 2025 Balance sheet Cash position of PLN 6.4 million, requires strengthening through the acquisition of financing The level of fixed assets is related to the modernization of the facility; the value was partially adjusted in 4Q’23 by an PLN m 1Q2023 2Q20
Slide 19: High Potential for Future Growth
Presentation of financial results Q4’25 and FY 2025 HIGH POTENTIAL FOR FUTURE GROWTH Concluding further orders and CDMO contracts ↗ The current value of all offers under consideration, as at the date of 24 April 2026 is USD 258,3 million, of which the value of active probability-weighted bids is USD
Slide 20: Project Pipeline and Revenue Estimation
Presentation of financial results Q4’25 and FY 2025 PROJECT PIPELINE AND REVENUE ESTIMATION Key strategy elements over the next years (2026-2030) 2026 2027 2028 86 Revenues Potential for Potential for >100 PLNm in annual 64% ~70-80 PLNm in annual ~20-25 PLNm in annual revenue revenue revenue 55 EBIT
Slide 21: Disclaimer
Disclaimer This document ("Document") has been drawn up by Mabion S.A.. The information contained in the Liability for investment decisions and possible losses incurred as a result of them shall be borne Document has been collected and prepared with due diligence, based on facts and information sole
Slide 22: Appendix
NABION Appendix
Slide 23: New contracts are beginning to contribute to the P&L
Presentation of financial results for Q3 2025 New contracts are beginning to contribute to the P&L In 4Q 2025, Mabion’s main contribution to revenues came from the execution of services for Novavax as well as other CDMO projects Revenue PLN m 6,3 0,2 Revenues in Q4 2025 amounted to PLN 5.7 million 0
Slide 24: Key profitability figures affected by reduced revenues from CDMO service delivery
Presentation of financial results for Q3 2025 Key profitability figures affected by reduced revenues from CDMO service delivery A reduced scope of CDMO services provided combined with maintained cost discipline EBITDA Net Income PLN m adjusted PLN m result 22,6 adjusted +12,2 result 10,9 26,4 19,8 1
Slide 25: Thank you
Thank you INVESTOR RELATIONS SCIENTIFIC AND INDUSTRIAL COMPLEX OF RESEARCH AND DEVELOPMENT CENTER MEDICAL BIOTECHNOLOGY FOR BIOTECHNOLOGICAL MEDICINAL PRODUCTS Piotr Owdziej, cc group ul. gen. Mariana Langiewicza 60 ul. Fabryczna 17 piotr.owdziej@ccgroup.pl 95-050 Konstantynów Łódzki, Polska 90-344