Slide 1: Doubling down on tech leadership – H1 2025 results
Doubling down on tech leadership H1 2025 results Scientific Operational Excellence Excellence Evotec SE, H1 2025 results call, 13 August 2025
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 Sec
Slide 3: Agenda
Agenda 1. H1 2025 review 2. Doubling down on tech leadership 3. On track to reach 2028 outlook 4. Questions & Answers PAGE 3
Slide 4: Agenda
Agenda 1. H1 2025 review 2. Doubling down on tech leadership 3. On track to reach 2028 outlook 4. Questions & Answers PAGE 4
Slide 5: Re-tooling on track
Re-tooling on track Entering the next stage toward profitable growth Phase III: Restart Phase II: Review Phase I: Reset Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 2026 Priority Reset Strategic Review Execution • New Operating Model and Organization Upgrade (Q3/Q4) • Annualized g
Slide 6: Sharpened investment focus – reduced complexity
Sharpened investment focus – reduced complexity New segment nomenclature in alignment with strategic setup Enabling partners through technology and science leadership Discovery & Preclinical Development (D&PD) Just – Evotec Biologics (JEB) • Target Identification to IND • World leader in developing
Slide 7: H1 2025 at a glance
H1 2025 at a glance Summary Discovery & Preclinical Development (D&PD) Just – Evotec Biologics (JEB) • Expansion of pipeline of high value molecular glue • Continuation of strong growth with new and existing degraders in strategic partnership with BMS partners • Strategic partnership with BMS advanc
Slide 8: Funding is normalizing – Spending behaviour remaining cautious
Funding stabilizing – Early-stage R&D to catch up Key trends in VC market VC funding back to pre-pandemic levels Discovery & Pre-Clinical vs. Clinical not in sync US$ m 25.000 75% 20.000 15.000 50% 10.000 5.000 0 25% Q4 2020 Q4 2024 Q3 2021 Q4 2021 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1
Slide 9: D&PD behind expectations – JEB ahead of plan
D&PD behind expectations – JEB ahead of plan Condensed income statement H1 2025 in € m1 H1 2025 H1 2024 Change Comments External Revenues 371.2 390.8 (5)% Behind initial group expectations D&PD 269.0 302.4 (11)% No recovery of relevant market, yet JEB2 102.2 88.5 16% Broadening customer base Gross m
Slide 10: Cost out initiatives ahead of plan
Cost out initiatives ahead of plan Cost reduction measures Impact ~ 600 FTE reduction in D&PD Measure Progress (Mar 24 – Jun 25); +200 FTE vs. Priority Reset Target • Remaining Priority Reset initiatives implemented • Disciplined spending & restricted hiring activities FY 2025 total cost-out target
Slide 11: Improved Operating and Investing cash flow vs. H1 2024
Improved Operating and Investing cash flow vs. H1 2024 Quarterly Cash Flows Q1 ‘24 Q2 ‘24 Q3 ‘24 Q4 ‘24 Q1 ‘25 Q2 ‘25 • Improved Operating Cash flow (OCF) Quarterly 91.1 Favorable changes in Cash flows, working capital in € m 16.7 74,2 • Reduced cash outflow 4.6 from investing activities 42,6 16,9
Slide 12: Liquidity developing as expected
Liquidity developing as expected Quarterly liquidity development Net debt, in € m 173 164 43 107 114 • Stable financing, materialized cost 397 savings and proactive liquidity Liquidity at management 371 quarter end, 348 in € m • Total liabilities and lease 299 303 obligations decreased to € 462 m fr
Slide 13: Agenda
Agenda 1. H1 2025 review 2. Doubling down on tech leadership 3. On track to reach 2028 outlook 4. Questions & Answers PAGE 13
Slide 14: Doubling down on technology and science leadership
Doubling down on technology and science leadership Expanding E.MPD as basis for future license deals – Addition of NURTuRE-AKI cohort Tuberculosis Therapeutic Area # of E.MPD patients Partners in CKD Rheumatoid Arthritis Chronic Kidney Psoriasis > 12,000 Obesity, Disease (CKD) MASH Healthy NASH AKI
Slide 15: Industry leading Kidney Franchise
Industry leading Kidney Franchise Demonstrating ROI based on investments into E.MPD, Portfolio and Team 2013- 14 2015-16 2017 -18 2018 -19 2020-21 2022-23 2024 2025 2026 ff Strong track record in licensing assets based on multi-omics-derived disease understanding PAGE 15
Slide 16: Getting one step closer to our vision for tomorrow
Getting one step closer to our vision for tomorrow Better monetization of technology & assets Just – Evotec Biologics today Our vision for tomorrow Intellectual Expand leadership on core technology Validated technology leadership property competencies Revenues derived from process and product • Enha
Slide 17: Poised for long term growth
Poised for long term growth Next-generation CDMO model – Leveraging innovation, retaining platform control Leverage existing CDMO offerings Shaping new markets through innovation • IP licensing model for proprietary continuous manufacturing platform Full CDMO services Early and late-stage • Licensin
Slide 18: Shaping new markets
Shaping new markets Operating in highly attractive markets Biologics CDMO market Segment share $ 15 bn Cont. manufacturing • Robust underlying market <5% growth >10% Fed batch • Technology advantage shaping 2023 Continuous manufacturing a new segment >10% Cell Line Development1,2 Serum-free Media Ma
Slide 19: Fast track toward asset-lighter model of Just – Evotec Biologics
Fast track toward asset-lighter model of Just – Evotec Biologics Further validation of Just – Evotec Biologics’ manufacturing technology Toulouse, France Evotec and Sandoz have agreed on a term sheet for the sale of Just – Evotec Biologics EU1, including the biologics manufacturing site (J.POD) loca
Slide 20: Compelling deal in-line with strategic rationale
Compelling deal in-line with strategic rationale • Leveraging E2E GMP mfg center of excellence in Redmond Shift to asset lighter business • Enabling customers with continuous manufacturing technology in manufacturing sites with or beyond JEB’s own infrastructure • Increasing revenue share from techn
Slide 21: Next steps
Next steps Closing of transaction expected in Q4’25, subject to customary approvals July 2025 Q3 2025 Q3 / Q4 2025 Q4 2025 Signing of non- Consultation with Signing of definitive Planned binding term sheet works councils documentations closing Completion of transaction remains subject to consultatio
Slide 22: Guidance 2025
Guidance 20251 FY 2024 Guidance 2025 Comment Stable development driven by strong JEB segment; D&PD in soft market Group revenues € 797 m € 760 - 800 m environment pivoting towards higher- value offerings Further prioritisation of scalable R&D expenditure2 € 51 m € 40 - 50 m tech-platforms and techno
Slide 23: Agenda
Agenda 1. H1 2025 review 2. Doubling down on tech leadership 3. On track to reach 2028 outlook 4. Questions & Answers PAGE 23
Slide 24: Levers of mid-term value creation
Levers of mid-term value creation Above market growth rates at better-quality earnings Later tipping Technological leadership and innovation; steering portfolio towards high value segments point Commitment to Operational Excellence Ahead of plan Accelerating cost-out plans & further productivity imp
Slide 25: Mid-term Outlook – 2028 aspiration
Mid-term Outlook 2028 aspiration Revenue Adj. EBITDA CAGR1 margin 2024-2028 2028 8-12% >20% (FY 2024: € 797 m) (FY 2024: ~3%) Drivers Market recovery, Operating leverage, Differentiation, Mix/Value add-ons, Value add-ons Productivity, Cost optimisation PAGE 25 1 CAGR = Compound annual growth rate
Slide 26: The team is ready to take your questions
The team is ready to take your questions Christian Wojczewski Paul Hitchin Aurélie Dalbiez Cord Dohrmann CEO CFO CPO CSO PAGE 26
Slide 27: #PioneeringDrugDiscovery
&A #PioneeringDrugDiscovery
Slide 28: Investor Relations contact
Volker Braun EVP Head of Global Investor Relations & ESG +49 (0) 40 228 999 338 (d) +49 (0) 151 1940 5058 (m) volker.braun@evotec.com