Slide 1: Investor Presentation
Investor Presentation June 2026
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation has been prepared by Biocon Limited (the “Company”). It is not the intention to provide, and you may not rely on this presentation as providing, a complete or comprehensive analysis of the Company’s business, financial condition, results of operations, trading
Slide 3: Leading, Global Biopharma Company
Leading, Global Biopharma Company
Slide 4: Biocon Group – A Leading Global Biopharmaceutical Company
Biocon Group – A Leading Global Biopharmaceutical Company Improving patients' lives by delivering affordable healthcare products and differentiated services 47+ Global reach in Market cap of $ 1,924M 215+ 16 of Top 20 1,500+ 11 year legacy 120+ In Revenues1 cGMP Pharma companies Patents1 Manufacturi
Slide 5: Our Aspiration
Our Aspiration Leveraging science and innovation to make life-saving medicines affordable and accessible to patients 2004 2017 2025 2021 Launched India’s first Commercialized first Received approval and Commercialized the first recombinant human insulin, biosimilar Trastuzumab in commercialized the
Slide 6: Our Transformative Journey over the Years
Our Transformative Journey over the Years Early pioneers of Biotech, democratizing access to chronic and life-saving therapies globally Enzymes Transforming into Biosimilars Global Strategic Company Biopharma Scale-Up Reach Integration 1978 1998 2009 2019 2022 2026 Acquired Viatris’ Integration of B
Slide 7: Integration of Biocon Limited and Biocon Biologics
Integration of Biocon Limited and Biocon Biologics Combining our Generics and Biosimilar businesses to unlock value for patients, prescribers, customers and shareholders Earlier Structure Strategic Differentiators of Combined Business Generics (API, GLPs, OSDs, Injectables) Research & Manufacturing
Slide 8: Experienced Leadership Team
Experienced Leadership Team MATTHEW ERICK KEDAR UPADHYE Chief Commercial Officer Chief Financial Officer – Advanced Markets KIRAN MAZUMDAR-SHAW Chairperson SUSHEEL UMESH Chief Commercial Officer RHONDA DUFFY – Emerging Markets , Chief Operations Officer Global API & BD ANUJ GOEL NAVEEN NARAYANAN Chi
Slide 9: Improving Financial Metrics and Unlocking Value
Improving Financial Metrics and Unlocking Value
Slide 10: Our Financial Journey to Improve Financial Metrics and Unlock Value
Our Financial Journey to Improve Financial Metrics and Unlock Value (I) (II) (III) (IV) Acquisition of Viatris’ Biosimilars Acquisition Loan Refinancing QIP for Redemption of Business Business Structured Instruments Consolidation • $3B+ acquisition – one of the largest • Refinancing through offshore
Slide 11: Acquisition Refinancing - Improved Debt Maturity Profile
Acquisition Refinancing - Improved Debt Maturity Profile BBL Original Debt profile (Sep’24) Original Term Debt Amortization Schedule1 Acquisition Debt 392 401 253 6 312 75 74 $1,389mn Bilateral Debt 186 395 317 238 31 950 Working Capital FY25 FY26 FY27 FY28 FY29 FY30 Acquisition Debt Bilateral Debt
Slide 12: Deleveraged and Strengthened Balance Sheet through Re-financing, QIP and EBITDA Growth
Deleveraged and Strengthened Balance Sheet through Acquisition Re-financing, QIP and EBITDA Growth Reduction in Leverage : FY23 – FY261 Highlights $ Mn • Structured debt fully redeemed in FY26 Gross Debt 2,012 1,586 • FY26: Net Debt/EBITDA at 2.7x : Structured 304 debt - • Deleveraging initiatives 1
Slide 13: Major Investments in Capacities and Infrastructure Largely Completed
Major Investments in Capacities and Infrastructure Largely Completed across Biocon Group CapEx Cash Outflow Highlights USDmn CapEx Plant & Avg. Quarterly Adj. ROCE1 274 Machinery Cash Balance 232 210 90 204 ~$1Bn+ ~$370M+ ~10% 61 Research 63 39 93 Key Projects 101 88 Biosimilars 83 mAbs (India) Insu
Slide 14: Business Consolidation – Next step in our journey
Business Consolidation – Next step in our journey to improve financial metrics and unlock value (I) (II) (III) (IV) Acquisition of Viatris’ Biosimilars Acquisition Loan Refinancing QIP for Redemption of Business Business Structured Instruments Consolidation • $3B+ acquisition – one of the largest •
Slide 15: Key Business Highlights: Products
Key Business Highlights: Products
Slide 16: Consolidated business well positioned among global leaders in biosimilars and complex generics
Consolidated business is well positioned and among the global leaders in biosimilars and complex generics Integration marks a beginning of a new phase of accelerated growth, scale, and scientific impact. Research & Development Manufacturing Commercialization ✓ Robust in-house R&D engine with experti
Slide 17: Evolving Global Disease Burden
Evolving Global Disease Burden Shift in global disease burden from communicable diseases to non-communicable diseases (NCD’s) Oncology Total Disease Burden by Total Disease Burden by Cause (Billion DALYs*) Cause (Billion DALYs*) Incidence expected to increase to 35M new patients annually by 2050. 77
Slide 18: Expansive Portfolio with Complementarity across High Growth Therapy Areas
Expansive Portfolio with Complementarity across High Growth Therapy Areas Combined portfolio includes Biosimilars, Insulins, GLPs and Complex Generics Biosimilars Generics Examples Approved Pipeline Pertuzumab Trastuzumab SC Pegfilgrastim Denosumab Dasatinib Oncology Pembrolizumab Palbociclib Trastu
Slide 19: Existing Portfolio holds Significant Market Share
Existing Portfolio holds Significant Market Share Direct presence across major countries and a network of established partners and distributors Biosimilars – Advanced Markets Generic Formulations – Advanced Markets Market share Q3 CY2024 Q3 CY2025 Q3 CY2024 Q3 CY2025 23% 25% 22% 23% 49% 57% 50% 50%
Slide 20: Strong Launch Momentum going into FY 2027
Strong Launch Momentum going into FY 2027 Multiple global launches lined-up across Oncology, Immunology and GLP-1s in 2026 Successfully launched Oncology and Immunology Launches Insulin Launch GLP Launches Semaglutide@ Addressable Market* >> $6 B $5 B $7 B $8 B ~ $3 B $1 B $34 B U.S. U.S. U.S. U.S.
Slide 21: State-of-the-art Manufacturing Facilities
State-of-the-art Manufacturing Facilities 300+ KL Biosimilar drug Substance manufacturing capacity | 100M + units Injectable manufacturing capacity | 2Bn + Oral Solid Capacity Drug Substance Drug Product mAbs Fermentation Synthetic Injectables OSD 215+ cGMP approvals Bengaluru, India from 25+ ▪ Biol
Slide 22: Strong Commercial Capabilities with Global Footprint ensuring patient access
Strong Commercial Capabilities with Global Footprint ensuring patient access Expanding our commercial footprint globally through diverse GTM models Combined Entity Presence Commercial Models Focused GTM models to reach underserved patient needs Mix of both self-led markets and Advanced Markets partn
Slide 23: Key Business Highlights: Services
Key Business Highlights: Services
Slide 24: Leading CRDMO Player With Differentiated Capabilities
Leading CRDMO Player With Differentiated Capabilities Differentiated Characteristics And… … Best-in-Class Capabilities… … Establishes Growth Path Expertise across pharmaceuticals, biotech, nutrition and animal health Team of 5,700+ scientists including 7% PhDs Leveraging integrated services from dru
Slide 25: Well Positioned in the Highly Attractive CRDMO Market
Well Positioned in the Highly Attractive CRDMO Market Market Trends Supportive of Long-term Industry Growth CRDMO Market Size1 Key Market Trends Supportive of Long-term Growth USDbn 231 Drug pipeline growing at a healthy 8% CAGR 8% 41 9% 155 Outsourcing Acceleration: Big pharma increasingly outsourc
Slide 26: Financials
Financials
Slide 27: Biocon Group - Robust Financials
Biocon Group - Robust Financials Key Financials1 Highlights USDmn Revenue5 1,924 1,806 1,630 • Revenue reflects steady growth across all three verticals 22% 23% 1,322 23% Research 28% • R&D spends at 7% of revenues driven by stage of development of assets 58% 60% 58% Biosimilars 48% • EBITDA margin
Slide 28: Financial Highlights – FY26
Financial Highlights – FY26 In ₹ Cr FY22 FY23 FY24 FY25 FY26 Revenue from Operations 8,184 11,174 14,7561 15,262 16,927 Generics 2,341 2,765 2,799 3,0174 3,168 Biosimilars 3,464 5,584 8,8241 9,017 10,431 CRDMO 2,604 3,193 3,489 3,642 3,739 Others 51 19 - - - Total Revenue 8,397 11,550 15,6211,2 16,4
Slide 29: Financial Highlights – FY26
Financial Highlights – FY26 In ₹ Cr FY22 FY23 FY24 FY25 FY26 Biosimilars Revenue 3,464 5,584 8,8241 9,017 10,431 EBITDA 1,013 1,338 2,1901,2 3,0283 2,751 % Margin 29% 24% 29%1,2 34%3 26% R&D (% sales) 9% 17% 10% 7% 6% Generics Revenue 2,341 2,764 2,799 3,0174 3,168 EBITDA 396 423 394 3774 166 % Marg
Slide 30: Key Balance Sheet Items
Key Balance Sheet Items In ₹ Cr FY22* FY23 FY24 FY25 FY26 Share Capital and Other Equity 8,433 17,867 19,784 21,644 34,032 Non-controlling Interests 1,038 4,622 5,491 6,069 2,590 Borrowings (Current & Non-Current) 4,904 17,771 15,730 17,756 14,825 Financial Liabilities 2,135 5,560 6,621 4,436 2,447
Slide 31: Thank You
Thank You ACCELERATING REACH Propelli ing Growth,