Slide 1: Make Success More Certain
Make Success More Certain August 2025
Slide 2: Disclaimer
Disclaimer Except for historical information contained herein, the matters set forth in this presentation are forward looking statements that are subject to risks and uncertainties that could cause actual results to differ materially. These forward-looking statements are not based on historical fact
Slide 3: Bora by the Numbers
2.9+ Billion USD Market Cap* 2100+ Employees Bora by the 100+ Export Countries Numbers 10 Manufacturing Sites 600+ Million USD FY2024 Revenue 95% Revenues outside of Taiwan *As of July 2025 #1 Pharma Manufacturer in Taiwan 3
Slide 4: Bora Q2’25 Milestones
Bora Q2’25 Milestones • One-time non-operational expenses all behind us • Encouraging Momentum seen at Maple Grove Site • Continued investment into DEE Specialty/Rare Disease pipeline with ~US$10bn market potential • Successfully grew Vigabatrin Franchise market share by double digit 4 4
Slide 5: Q2’25 Financial Highlights
Q2’25 Financial Highlights
Slide 6: Core Businesses Had A Historically 2nd Strongest EPS Quarter
Core Businesses Had A Historically 2nd Strongest EPS Quarter Reported in NT$mn, 2Q25 basic EPS NT$5.95, among which 2Q2025 1Q2025 QoQ% 1H2025 1H2024 YoY% except for EPS NT$1.81 came from discontinued Revenue 4,868 4,480 9% 9,347 7,275 28% operations COGS -2,848 -2,590 10% -5,438 -3,801 43% Manuf
Slide 7: A Clear Runway Set For 2H25 To Grow Organically
A Clear Runway Set For 2H25 To Grow Organically Accelerating Sales and Net Income As We Grow With Evolving Sales Mix • 2025 numbers are based on FS where revenues of • Breakdown includes internal CDMO orders discontinued operations are not consolidated 25,000 60% Unit: NT$mn except for % 49% 50% 20,
Slide 8: Q2’25 Marks Our Transition Out of The Integration Phase
Q2’25 Marks Our Transition Out of The Integration Phase Which Began in 4Q24, Evidenced By Healthier CF and BS cash and cash equivalents net debt/EBITDA 7,000 Unit: NT$mn except for % 2 Operating cash inflow increased by ~NT$3600mn 1.9 1.8 6,000 compared to same period last year. 1.6 1.6 1.6 5,000
Slide 9: Core EBITDA Reconciliation
Core EBITDA Reconciliation In 2024, Bora executed acquisitions aligned with 3 key rationales - entering new technology platforms for broader CDMO offerings, acquiring US capacities, and expanding specialty pharma footprints With significant expansion in operational scale, streamlining efforts ar
Slide 10: Q2’25 Business Operations: Bora CDMO
Q2’25 Business Operations Bora CDMO
Slide 11: Bora Vision 2025: Margin Profile to Improve
2025 Margin Profile to Improve As Synergies of High Value Assets Emerge Achieved historic high in project wins in 1H’25. Scale Maple Grove saw clinical-stage clients converting trial orders into long-term strategic partnerships, alongside a Integrate gradual increase in contract signings from ph
Slide 12: Investments In Aseptic Technologies For Maryland Site
Investments In Aseptic Technologies For Maryland Site Enhance customer retention and acquisition Liquid Products Batch Size Up to • ~20 near-term projects from new and existing clients waiting to onboard in 2H26. Only 25,000 Units • Expand capacity and capability for isolator- based aseptic filling,
Slide 13: High Performance Topical Products Filling Line Ready At Canada Site
High Performance Topical Products Filling Line Ready At Canada Site Enhance customer retention and acquisition Qualified for Capacity Up • The new Norden filler is the 3rd tube-filling line at the site more than 20 ~40% and is capable of producing ~7- 15mn units per year, markets increasing the site
Slide 14: Encouraging Momentum at Maple Grove
Encouraging Momentum at Maple Grove Strategic Partnerships Advancing Clinical-stage clients are transitioning to long-term strategic partnerships. A steady uptick in contract signings from pharmaceutical companies looking to secure US domestic manufacturing. Discussions remain active with pote
Slide 15: Strength in Capability and Quality Across Global Markets
Strength in Capability and Quality Across Global Markets Servicing 100+ Markets Without Disruption A Broad Range of Dosage Forms A Global Network of 10+ Sites A Unique Competitive Advantage • OSD • Large Pharma quality with • Nasal Spray Small Bio attention • Ophthalmic • Capability > capacity as a
Slide 16: Q2’25 CDMO Business Progress Highlights
Q2’25 CDMO Business Progress Highlights • Fueled by expanded capacity and new dosage forms, Bora’s CDMO business in 1H25, including internal orders, grew 69.5% compared to same period last year, reaching more than NT$5.01 billion • Yet posted a 26.6% sequential decline in Q2’25 due to slower momentu
Slide 17: Q2’25 Business Operations: Bora Pharma Sales
Q2’25 Business Operations Bora Pharma Sales
Slide 18: Revenue Shifts, Profitability Expands
Revenue Shifts, Profitability Expands Qualitative Upgrades Driving Quantitative Growth • Decline in other generics was from discontinuation US$mn of 15 products under tremendous pricing pressure; other generics DLS DTC+DTS PAC KCL specialty optimization shall continue 450 • DLS stabilized in April,
Slide 19: Ramping Up Specialty Infrastructure With Strong Channel Feedback
Ramping Up Specialty Infrastructure With Strong Channel Feedback “Excellent payor coverage and reimbursement with >80% coverage of top 50 accounts” 3 dosage form “Continued strong uptake for both new starts and combined, switches” Vigabatrin franchise “In-patient stocking at >10 hospitals” + ~40% Qo
Slide 20: More Focused Portfolio Capturing Critical Patient Shift
More Focused Portfolio Capturing Critical Patient Shift Differentiated by Ready-To-Use With Better Adherence Past Future Right Market & Favored Biz Model • Less than a handful of specialty pharma in this field with growing NCEs to be approved in the next Developmental Epileptic decade Drug Resistant
Slide 21: Generics Pipeline Status Update
Generics Pipeline Status Update: Selective High Value Assets Tracking In-Line Specialty Business Generics Business 505(b)(2) • Stiripentol • GLP-1 project Submitted under 2 indications. TAD in 4Q25. • Gx capsule: to submit in 4Q25 – 1Q26 • RTR/505(b)(2): ODE and FDA fast track • Cyclosporine OPHT (C
Slide 22: Bora 2H Blueprint
Bora 2H Blueprint • Continued minimization of potential Tariff and FX impact • CDMO Sterile business back on track and retooled for growth • Focus on High Value Generics progress and strong pipeline • Optimistic growth expected for Both businesses 22 22
Slide 23: Bora and Community
Bora and Community
Slide 24: Bora’s Commitment to Governance, People & Society
Bora’s Commitment to Governance, People & Society Our Achievements TWSE’s Corporate MSCI ESG Ratings Grade A Bora’s North American CDMO Governance Evaluation FTSE Russell Score 3.5/5 operations recognized as Ranking improved to top (qualified for FTSE4GOOD) “Committed” by Ecovadis 6%–20% among liste
Slide 25: Thank You !
bora Pharmaceuticals Thank You ! Bora ‘oe