Slide 1: Investor Deck – Second Half 2024
EUROAPI Reinventing Active Ingredients solutions to sustainably meet clients and patient’s needs around the world Investor Deck – Second Half 2024 Updated on 11 October 2024
Slide 2: Content
Content EUROAPI in a nutshell Reinventing Active Ingredient Solutions to sustainably meet customers’ and patients’ needs around Page 3 to 13 the world Focus-27 strategic plan Build on our strengths to refocus on high-value and growing market segments, improve Page 14 to 32 competitiveness, and unloc
Slide 3: EUROAPI in a nutshell
EUROAPI in a nutshell Reinventing Active Ingredient Solutions to sustainably meet customers’ and patients’ needs around the world
Slide 4: EUROAPI at a glance
~ 200 APIs’, €1 bn Net Sales, ~ 3,650 employees, €91 billion total addressable market in 2023 (~ €120 billion expected in 2028) Highly-differentiated API portfolio Innovative technologies to support a growing focused CDMO activity Broad customer base around the world Ambitious ESG commitments Divers
Slide 5: 91 Bn euros Total Addressable Market
91 Bn euros Total Addressable Market Active Pharmaceutical Ingredients (API) market Sustained growth Merchant API market revenues, €bn 2023 – in euros Small molecules – €80 Bn 117 113 106 100 91 95 Merchant market API market €91 Bn €210 Bn 80 11 2023 2024 est. 2025 est. 2026 est. 2027 est. 2028 est.
Slide 6: Main activities: API Solutions and CDMO
Main activities API Solutions CDMO Customized development and Manufacturing and distribution of manufacture of active ingredients for the differenciated APIs pharmaceutical and biotechnology industries Top N°1 In small molecules In global CDMO market 10 • Unique portfolio of technologies • Approxima
Slide 7: One of the broadest API and CDMO offer
One of the broadest API and CDMO offer 2023 Net Sales by types of molecules Highly Potent Non-narcotic opioids molecules and opiates Large molecules Market growth: +9.0% Market growth: +3.5% 8% HP APIs First worldwide First worldwide 6% manufacturer of manufacturer of non- prostaglandin narcotic opi
Slide 8: State-of-the-art innovative technologies to support a growing CDMO activity
State-of-the-art innovative technologies to support a growing CDMO activity Complex chemistry Large molecules Bio-fermentation Highly Potent molecules Solid state Complex Peptides Anti-infective Prostaglandins Particle Chemical Oligonucleotides Vitamin B12 Cytotoxic Payloads Engineering synthesis Li
Slide 9: A broad customer base other than Sanofi
A broad customer base other than Sanofi From large Pharma, and Biotech to Animal 2023 Net Sales by clients Health, Food and Cosmetics PHARMA CONSUMER GENERIC COMPANIES HEALTHCARE COMPANIES ~275 ~165 ~45 Sanofi 47% Other BIOTECH CDMO & ANIMAL Clients RETAILERS HEALTH 53% ~20 ~20 ~15 FOOD & COSMETICS
Slide 10: Ambitious ESG commitments
Ambitious ESG commitments Offer safe products and a Accelerate innovation for Create a safe & multicultural Uphold best in class corporate resilient & responsible supply environmental sustainability workplace governance chain P. 10
Slide 11: Diversified and committed Board of Directors
Diversified and committed Board of Directors Independent Director Lead Independent Director Member representing the employees Viviane Monges Chair of the Board Elizabeth Bastoni Emmanuel Blin Cécile Dussart Claire Giraut Mattias Perjos Rodolfo Savitzky Lead Director Olivier Klaric Géraldine Leveau J
Slide 12: Concentrated shareholder base
Concentrated shareholder base L'Oréal 5% Fonds French Tech Souveraineté* 12% France Other Institutional 15% Investors** 28% UK 16% US 56% MAK Capital*** Sanofi* 5% Continental 30% Europe 7% Kopernik**** 5% ROW 5% Individual & unidentified Shareholders 15% *: Lock-up until December 2025 **: April 202
Slide 13: Strategic objectives
Strategic objectives Defined in February 2024 Improve competitiveness and unlock sustainable & profitable growth Streamlined value-added Focused CDMO offer Rationalized industrial Organizational portfolio, focused on highly leveraging our recognized footprint prioritizing high- transformation and mo
Slide 14: FOCUS-27
FOCUS-27 Build on our strengths to refocus on high-value and growing market segments, improve competitiveness, and unlock EUROAPI's sustainable and profitable growth potential
Slide 15: Improve competitiveness and unlock sustainable & profitable growth
Improve competitiveness and unlock sustainable & profitable growth Streamlined Focused CDMO Rationalized Organizational value-added offer leveraging industrial transformation and portfolio, focused our recognized footprint more efficient on highly capabilities and prioritizing high- ways of working
Slide 16: Underlying market size and estimated growth
Streamlined value-added portfolio, focused on highly differentiated profitable products Underliying market size and estimated growth 2021-2027 estimated market growth 17.0% Oligonucleotides 740 +10.0% +9.0% Peptides 1200 CAGR CAGR 12.0% Cytotoxic agents 690 Tides (Peptides Highly Potent and Oligo- (
Slide 17: Optimization of our API portfolio
Streamlined value-added portfolio, focused on highly differentiated profitable products Optimization of our API portfolio Market Large markets Large markets Attractiveness Fast-growing product categories Fast-growing product categories (future growth, level of competition) Low margins Strong competi
Slide 18: 13 uncompetitive APIs discontinued
Streamlined value-added portfolio, focused on highly differentiated profitable products Discontinued APIs* 2023 Net Sales 2023 Gross Profit 13 uncompetitive APIs manufactured at large scale in Asia ~ 80 M€ ~ (15) M€ with an average market price lower than EUROAPI’s Cost of Good Sold By platform By m
Slide 19: Differentiated APIs by molecules
Streamlined value-added portfolio, focused on highly differentiated profitable products Differentiated APIs by molecules Catalog sales per differentiated level Complex chemistry Fermentation HP-APIs 100% Share of sales with differentiated APIs (2023 30% 43% sales) 70% 57% Steroids Alkaloids Sartans
Slide 20: The CDMO industry megatrends
Focused CDMO offer leveraging our recognized capabilities and technology platforms The CMDO industry megatrends From… …to Secured and Resilient Supply Chains External services providers Increased emphasis on Integrated services from pre- for manufacturing mostly dual sourcing clinical to commerciali
Slide 21: Strengthened customer base and increase in value-added projects
Focused CDMO offer leveraging our recognized capabilities and technology platforms Strengthened customer base and increase in value-added projects Evolve Commercial prospection towards larger targets (Biotech & Pharma) De-risked project portfolio Number of RFPs received Early 230 2022 Net Stage 211
Slide 22: Objective: more than 35% of Group net sales by 2027
Focused CDMO offer leveraging our recognized capabilities and technology platforms Leverage EUROAPI unique platform capabilities to accelerate the sales trajectory Customers Large established Targeted prospection towards late-stage drugs and high-value projects Biotech driven by innovative complex c
Slide 23: Divesting and rightsizing
Rationalized industrial footprint prioritizing high-return CAPEX Divesting and rightsizing Haverhill Frankfurt Highly dependent on Sanofi’s demand and mono- Mothballing of two Small Complex Chemistry product workshops Largest spray dryer in the world Invest to boost Prostaglandin capacities Haverhil
Slide 24: Focus on 4 core sites
Rationalized industrial footprint prioritizing high-return CAPEX Focus on 4 core sites Frankfurt Elbeuf Invest in Peptides and Oligonucleotides Leverage a unique European bio- capacities fermentation platform Synergies with BIANOGmp Technologies Key product families Technologies Key product families
Slide 25: Increase capacity utilization rates
Rationalized industrial footprint prioritizing high-return CAPEX Increase capacity utilization rates Lowest Average Highest ~ 90% > 80% ~ 80% ~ 60% cc. 60% < 30% 2023 2027 est. P. 25
Slide 26: €350 to 400 million CAPEX investment 2024-2027
Rationalized industrial footprint prioritizing high-return CAPEX €350 to 400 million CAPEX investment between 2024 and 2027 41% Others 2024-2027 Cumulated Growth, R&D, and Performance (capacity utilization, improved 59% yields,…) P. 26
Slide 27: 59% of Growth CAPEX – Main projects
Rationalized industrial footprint prioritizing high-return CAPEX 59% of Growth CAPEX – Main projects Manufacturing Technology API family Type Timeline Adressable market* Total estimated Site Platform Investment 2024-2027 €380M with +5% to +7% Budapest Prostaglandins Capacity increase End of 2027 €31
Slide 28: Organizational transformation and more efficient ways of working
Organizational transformation and more efficient ways of working A more efficient operating model Commercial R&D Redesign the Commercial teams to Focus on support to Commercial, in increase synergies, and efficiencies particular the CDMO business Strengthened technology platforms cc. 550* total head
Slide 29: Net Sales breakdown estimates
FOCUS-27 Net Sales breakdown estimates Increase of sales to Other Clients + new clients, cross-selling Gradual ramp-up of new capacities starting as from 2025 onward, benefiting both the CDMO and the API Solutions activities Discontinued APIs (2/3 sold to Sanofi, 1/3 to other clients) - Haverhil
Slide 30: Incremental EBITDA targeted by 2027
FOCUS-27 75 to 80 M€ run-rate incremental EBITDA targeted by 2027* Organizational Transformation 34% Streamlined value-added Focused CDMO offer portfolio, focused on highly leveraging our recognized differentiated profitable capabilities and technology 66% products platforms Product Portfolio CDMO F
Slide 31: EUROAPI in 2027
EUROAPI in 2027 A value-added API and CDMO offering A streamlined industrial footprint A more efficient organization P. 31
Slide 32: Short and long-term financing secured
Short and long-term financing secured 1 2 3 4 Working Capital Minimum available Improvement Revolving Credit capacity reservation Facility Hybrid Bond from Sanofi for five selected product Approximately 140 M€ 451 M€ Revolving manufactured by 200 M€ Perpetual expected between 2024 Credit Facility wi
Slide 33: The API merchant market
The Active Pharmaceutical Ingredients (API) merchant market A growing 91 billion euros Total Addressable Market
Slide 34: ~91 Bn euros total addressable market
~91 Bn euros total addressable market Cc. +6-8% CAGR (2024-2028) Growth drivers € millions Pharmaceutical market Outsourcing from Pharma Volumes Companies 117 113 106 Aging population, Increased Generic product penetration 100 95 Increased access to healthcare Drug development increasingly outsource
Slide 35: Molecules approved by the FDA between 2016 and 2023
414 Molecules approved by the FDA between 2016 and 2023 mAbs* Other 19% 3% Antibody-drug Conjugates (ADC) 2% Small interfering RNA 2% Enzyme and Proteins 2023 market size 5% 91 bn euros Small Molecules (chemical synthesis, Oligonucleotides biochemistry, HP-API 2% 61% Peptides 6% *: out of Euroapi’s
Slide 36: API segments: main molecules and therapies
API segments Main molecules and therapies Small Molecules Large Molecules Oligonucleotides, Peptides & Complex Chemistry HP-APIs Biochemistry MaBs and others Lipids Molecule Size Small & Medium Variable Medium Large or mix Molecule structure Increasingly complex and technologically sophisticated Com
Slide 37: A long cycle and regulated industry
A long cycle and regulated industry Illustrative API Supplier Registration Process Evaluation & Assessment Lab-scale of Finished (procurement, business data, Sampling of API batches & Dosage Formulation (FDF) quality audits) Shipment Batch Testing 1 to 4 months 1 to 3 months 1 to 3 months FDF Regist
Slide 38: Deep Dive - API Solutions
Deep Dive - API Solutions Streamlined value-added portfolio, focused on highly differentiated profitable products
Slide 39: A comprehensive range of APIs (1/2)
API Solutions A comprehensive range of APIs* (1/2) 35 <5 20 Non-narcotic opioids & opiates – Stéroïds – Vertolaye (FR) Sartans – Budapest (HUN) Francopia (FR) Prednisolone, Methylprednisolone, Codeine phosphate, Naloxone hydrochloride, Ibersartan, Olmesartan Noscapine, Naltrexone hydrochloride, Dexa
Slide 40: A comprehensive range of APIs (2/2)
API Solutions A comprehensive range of APIs* (2/2) Anti-infectives 15 10 Brindisi (IT)**, Elbeuf & Vertolaye Prostaglandins (FR) Budapest (HUN) Pristinamycin, Gamithromycin, Beraprost, Latanoprost, Rifaximin, Teicoplanin, Rifampicin Limaprost Bronchitis, toxoplasmosis in Systemic or local vasodilato
Slide 41: Strong competitive positions in complex and differentiated APIs
API Solutions Strong competitive positions in complex and differentiated APIs 80% % of portfolio with high level of differentiation1 50% 0% 0 150 300+ # of APIs in portfolio P. 41 Company’s estimates based on public information
Slide 42: Commercial Excellence as a driver of business growth
API Solutions Commercial Excellence as a driver of business growth Capacity building Cross-selling Pricing power Exc. Sanofi of sales from clients that c. 25% Under Under 69% buy more than 4 APIs Purchase Contract contract Prostaglandins c.75% (exc. Sanofi) Orders Hormones 85-90% of customers pu
Slide 43: Deep Dive – CDMO
Deep Dive – CDMO Focused CDMO offer leveraging our recognized capabilities and technology platforms
Slide 44: The most diversified range of technology platforms
Focused CDMO offer The most diversified range of technology platforms Pep/ Large Oligo Molecules Only Peptide Only Peptide Only Oligo Other1 Other1 High-potent APIs H PG1 Bio- chemistry Other chemistry Sources Public company filings/communication, Industry interviews, Press releases 1: e.g. Large mo
Slide 45: CDMO life cycle
CDMO life cycle From the pre-clinical to the commercial phase ~ 60 to 70% ~ 40 to 50% ~ 60% success rate success rate success rate Pre-clinical/Phase 1 Phase 2 Request For Proposal Phase 3 Commercial phase Up to 4 years Up to 3 years process Up to 3 years 8-10 years Mostly lab activities Fir
Slide 46: Increased traction with accelerated commercial momentum
Focused CDMO offer Increased traction with accelerated commercial momentum Others Requests For Proposals received 1% Fermentation 16% 230 Complex Chemistry 211 Large 56% Molecules 27% 37% from big 120 Pharma ROW 54% Biotech 7% 9% mid size companies Europe 58% 40 USA 35% Average 2019-2020 2021 2022 2
Slide 47: Portfolio gradually de-risked towards commercial phase projects
Focused CDMO offer Portfolio gradually de-risked towards commercial phase projects 6 to 12 months lag between project attribution and first revenue recognized Pre-clinical/Phase 1 Phase 2 Request For Proposal Up to 4 years Up to 3 years Phase 3 Commercial phase process Up to 3 years 8-10 years Mostl
Slide 48: Towards an end-to-end offer for peptides and oligos
Focused CDMO offer – Large Molecules Towards an end-to-end offer for peptides and oligos 1 2 3 4 5 Oligonucleotides Peptides Conjugation Linkers Building blocks Position EUROAPI at Participate in strong Leverage chemistry Offer innovative Complement end-to-end forefront of emerging underlying market
Slide 49: Financial Results
Financial Results FY 2023 and H1 2024 FY 2024 outlook
Slide 50: FY 2023 key operational figures
FY 2023 key operational figures Net Sales Core EBITDA CAPEX €1,013.2 €129.0 m €93.1m m +3.8% Sanofi Net Sales €472.5m Core EBITDA 12.7% +0.2% margin 9.2% Growth Capex Other Clients 52% €540.7m +7.1% P. 50
Slide 51: FY 2023 Net sales evolution
FY 2023 Net sales evolution API Solutions CDMO €1,013.2m €976.6m Other clients: +7.2% Other Other clients: +7.1% Other Sanofi Other Clients • Increased sales from commercial Clients +0.2% Clients • 46 new clients added in 2023 products +7.1% • Acceleration of the cross-selling • Completion of a COVI
Slide 52: FY 2023 Net sales breakdown
FY 2023 Net sales breakdown Large molecules 76.5 M€ -22.3%% CDMO Other Clients API Solutions Other Clients Highly Potent molecules 18% 8% 96.4 M€ +17.2% 9% 36% CDMO Sanofi 10% 18% 65% Biochemistry molecules derived from 36% fermentation 184.1 M€ +24.2% Complex chemical synthesis API Solutions Sanofi
Slide 53: FY 2023 Core EBITDA evolution
FY 2023 Core EBITDA evolution 12.3% Volume Price and mix Performance 9.2% +1.7 pt impact +0.6 pt -0.8 pt Other impacts Energy Raw Gross margin -4.6 pts OPEX materials +0.7 pt +0.9 pt -1.7 pt Core EBITDA Core EBITDA 2022 2023 Rounded figures P. 53
Slide 54: FY 2023 Net Debt evolution
FY 2023 Net Debt evolution € millions, rounded figures Of which €(129.0)m Capex +73.9 -68.8 -25.6 Of which • €(40,4)m inventories • €48,9m trade receivables -171.0 -137.2 • €(52,9)m payables -14.3 +1.0 Net Debt Position Operating Cash Flow Working Capital Cash Flow from Cash Flow From Exchange rates
Slide 55: H1 2024 key operational figures
H1 2024 key operational figures Net Sales Core EBITDA CAPEX €448.7m €47.6m €61.3m (9.6)% Sanofi As % of Net Sales €207.8m Core EBITDA 13.7% -14.9% margin 10.6% Growth Capex Other Clients 56% €240.9m -4.6% P. 55
Slide 56: H1 2024 Consolidated Net Sales
H1 2024 Consolidated Net Sales 496.6 M€ 448.7 M€ CDMO (9.6%) Other 82.7 -1.2 M€ -29.0 M€ -7.3 M€ Clients -10.4 M€ (15.0%) (0.7%) (14.2%) 72.3 CDMO (12.7%) 51.4 Sanofi 44.1 API Solutions 169.8 • Volume decrease driven • 9.1% of Net Sales from • Ramp-up of a Large • Downsizing of two large Other Clien
Slide 57: H1 2024 Net sales breakdown
H1 2024 Net sales breakdown Large molecules 58.8 M€ CDMO Other Clients +67.9% API Solutions Other Clients 16% 13% Highly Potent molecules 47.1 M€ +7.8% CDMO Sanofi 38% 10% 10% 10% 67% Biochemistry 36% molecules derived from fermentation 43.7 M€ -48.8% API Solutions Sanofi Complex chemical synthesis
Slide 58: H1 2024 CDMO projects portfolio
H1 2024 CDMO projects portfolio 69 14 10 73 19 Phase 1 17 Phase 2 9 • 7 projects in complex chemistry • 2 projects completed with 11 (4 early-stage, 3 late-stage) Sanofi Phase 3 12 • 6 in large molecules (5 early- • 2 project on hold 9 stage, 1 late-stage) • 1 in biochemistry (early-stage) Commercia
Slide 59: CDMO projects portfolio at the end of June 2024
CDMO projects portfolio at the end of June 2024 Portfolio gradually de-risked towards commercial phase projects Phase 1 and earlier Phase 2 Phase 3 Commercial 7 4 2 4 17 Large June 24 molecules Dec 23 7 3 2 3 15 26% 47% H1 24 June 24 11 2 by phase HP-APIs 15% Dec 23 2 2 2 6 12% June 24 2 6 8 Biochem
Slide 60: From Net Sales to Core EBITDA
From Net Sales to Core EBITDA In € millions H1-2024 H1-2023 Net sales 448.7 496.6 Gross profit 98.0 97.0 Gross profit margin 21.8% 19.5% 47.2 million in exceptional items linked to FOCUS-27 plan • €33.8 million of idle costs, including the ramp-down of two Core EBITDA 47.6 62.5 workshops in Frankfur
Slide 61: Change in Core EBITDA margin
H1 2024 Results Change in Core EBITDA margin Rounded figures + 1.2 pts + 2.4 pts + 2.1 pts + 3.0 pts 12.6% - 5.5 pts 0.0 pts - 1.9 pts 10.6% - 2.9 pts - 0.3 pts 9.2% H1 2023 Core Volume Impact Price & Mix Buserelin Stock Operating Energy & Raw Unfavorable Other GM OPEX Brindisi site, H1 2024 Core EB
Slide 62: From EBITDA to Net Income and EPS
From EBITDA to Net Income and EPS In € millions H1-2024 H1-2023 EBITDA (1.4) 52.1 Depreciation and Amortization 32.0 36.1 Operating Income (33.4) 16.0 Financial results negatively impacted by the increase Financial Result (8.1) (3.3) in interest rates, and the full drawdown of the RCF Income before
Slide 63: H1-2024 CAPEX
H1-2024 CAPEX FY 23 €129.0 m Maintenance Capex 59.7 44% H1 2024 CAPEX BREAKDOWN 69.3 Growth 61.3 Capex 56% 2023 2024 H1 H2 P. 63
Slide 64: Working capital
Working capital In € millions Inventory - Months on Hand1 June December June 2024 2023 2023 8.5 8.1 7.6 Working Capital 671.8 701.5 741.0 Of which H1 2023 FY 2023 H1 2024 inventories 638.7 644.8 667.8 Of which trade Receivables – DSO2 176.7 216.3 238.0 receivables 70 Of which trade 56 (143.6) (159.6
Slide 65: Net Debt evolution
Net Debt evolution € millions, rounded figures Of which • €4.1m inventories • €40.0m trade receivables • €(16.2)m payables -171.0 -170.2 +66.1 -61.3 +5.1 -0.9 -8.3 Net Debt Position Operating Cash Flow Working Capital Cash Flow From Cash Flow From Exchange rates Net Debt Position December 2023 Inves
Slide 66: 2024 outlook
2024 outlook Underlying assumptions • Downsizing of two large CMO contracts • Strong decrease in sales to Sanofi • Phasing impact in the CDMO business Between 8% and 11% decrease in Net Sales on a comparable basis. The second- • Impact of the suspension of APIs production in Brindisi half performanc
Slide 67: Sustainability
Sustainability An integrated ESG roadmap to support ambitious commitments
Slide 68: Our commitments
Our commitments Offer safe products and a Accelerate innovation for Create a safe & Uphold best in class resilient & responsible environmental multicultural workplace corporate governance supply chain sustainability We provide high quality products We propose innovative processes We ensure our emplo
Slide 69: Sustainability Roadmap's achievements 2023
2023 Sustainability Roadmap’s achievements Accelerate innovation for Create a safe and multicultural Uphold best-in-class corporate environmental sustainability workplace governance 100% sites 30% women in a 100% completion of code ISO14001/50001 leadership position by of conduct and 95% certifi
Slide 70: Commitment One: Offer safe products and a resilient supply chain
Commitment One Offer safe products and a resilient & responsible supply chain P. 70
Slide 71: Commitment two: Accelerate innovation for environmental sustainability
Commitment two Accelerate innovation for environmental sustainability P. 71
Slide 72: Commitment three: Create a safe & multicultural workplace
Commitment three Create a safe & multicultural workplace P. 72
Slide 73: Commitment four: Uphold best-in-class corporate governance
Commitment four Uphold best-in-class corporate governance P. 73
Slide 74: Climate Fight: -30% CO2 emissions by 2030
Climate Fight -30% CO2 emissions by 2030 (scopes 1 & 2 / vs 2020) GHG emissions by scope Scopes 1 & 2 -19.6% 28,614 63,086 4% 8% 114,046 100,953 91,378 91,700 74,043 73,582 61,317 63,086 40,003 705,065 88% 30,061 28,614 27,371 2020 2021 2022 2023 Scope 1 Scope 2 Scope 1 Scope 2 Scope 3 p.74 * MWh
Slide 75: Strongly committed to Health & Safety and Environment
Strongly committed to Health & Safety (H&S) and Environment B Score Seveso site regularly inspected by 100% success in audits from clients national authorities ~110 audits in 2022 and 2023 p.75 Sources Company Information
Slide 76: Double Materiality Matrix
Double Materiality Matrix Performed in 2023
Slide 77: Governance and Remuneration
Governance and Remuneration Aligned with Shareholders’ interest
Slide 78: Board of Directors: Diversified and committed
Board of Directors Diversified and committed Independent Director Lead Independent Director Member representing the employees Viviane Monges Chair of the Board Elizabeth Bastoni Emmanuel Blin Cécile Dussart Claire Giraut Mattias Perjos Rodolfo Savitzky Lead Director Olivier Klaric Géraldine Leveau J
Slide 79: Board of Directors: Balanced and competent
Board of Directors Balanced and competent Directors’ competences 50% of women 25% 25% 42% 58% In-depth Clients Innovation Finance EUROAPI and retail knowledge 60% of 50% 50% 92% 75% independents ESG Manufacturing Management International P. 79
Slide 80: The Board in 2023
The Board in 2023 9 93% 9 meetings of attendance rate executive sessions Main activities Self-assessment results Elaboration of the Focus-27 strategic roadmap, managing the governance crisis Anonymous questionnaire sent to all directors via a dedicated Evaluation of strategic options digital platfor
Slide 81: Main activities of the Board and its committees in 2023
Main activities of the Board and its committees in 2023 Meetings Attendance rate Audit committee – 75% of independents Review of the Group's financial position - Review of account closing procedures - Review of the finance organisation – Review of the risk management and of the risk mapping - Review
Slide 82: Remuneration policy of the Board of Directors in 2024
Remuneration policy of the Board of Directors in 2024 Independent members FIXED OTHER Depending on the attendance at the committees, on which committee and on the function within the committee €60,000 Individual Total compensation Audit committee or Nomination and compensation committee €1,100,000 C
Slide 83: Remuneration policy of the Chief Executive Officer in 2024
Remuneration policy of the Chief Executive Officer in 2024 Criteria for the variable annual remuneration Weighting Financial objectives (based on February 28, 2024, EUROAPI’s strategy and budget) €517,000 Free Cash-Flow (before financing) 25% Fixed Core EBITDA margin 25% Individual objectives Variab
Slide 84: Relationship with Sanofi
CULOAPI Relationship with Sanofi
Slide 85: A long-term partnership with Sanofi
A long-term partnership with Sanofi… Manufacturing and Supply by Euroapi of certain Active Pharmaceutical Ingredients for Sanofi ("Global Manufacturing Agreement") Partial protection clauses for both parties, particularly in the event of significant changes in the macro-economic environment (raw mat
Slide 86: … for the benefit of both companies
… for the benefit of both companies 3 agreements € • Manufacturing and Supply 46.6% ̴ 1/3 of EUROAPI consolidated of the APIs purchased • Distribution revenues in 2023 by Sanofi* • CDMO * Reference in 2020 (in value) P. 86
Slide 87: Reciprocal EUROAPI/Sanofi commercial relations
Reciprocal EUROAPI/Sanofi commercial relations on current and future business A partnership guided by different agreements Manufacturing Reverse MSA 1 and Supply 2 and Distribution 3 CDMO • Covers all API manufactured by • Reciprocal development service • Reverse MSA covers: EUROAPI and sold to Sano
Slide 88: Accelerated decline of 2024 and 2025 demand forecast vs business plan
Accelerated decline of 2024 and 2025 demand forecast compared to initial business plan 2024 & 2025 expected sales below the initial business plan Limited visibility Limited pricing power on the annual to compensate recent volume forecast input costs inflation as Acceleration of per current MSA dual-
Slide 89: Revised commercial terms signed with Sanofi in February 2024
Revised commercial terms signed with Sanofi in February 2024 Main changes to the initial agreements Cancellation of the mutual performance clause Manufacturing and MSA Supply Agreements Raw Material Pass Through revised with full compensation by Sanofi above 20% increase • Covers all API manufacture
Slide 90: Key mechanisms of the relationship with Sanofi
Key mechanisms designed to ensure mutually beneficial relationship for EUROAPI and Sanofi Manufacturing and Supply Distribution Exclusivity Price-Volume Raw Material Energy costs Fixed clause Corridor Pass Through sharing prices • 42 out of the 86 APIs are • Annual compensation • Reciprocal sharing
Slide 91: Contacts
Contacts Sophie Palliez-Capian Camille Ricotier Head of Investor Relations Investor Relations Associate + 33 6 87 89 33 51 + 33 6 43 29 93 79 sophie.palliez@euroapi.com camille.ricotier@euroapi.com ir@Euroapi.com ir@Euroapi.com P. 91 p.91
Slide 92: Forward looking statements
Forward looking statements Certain information contained in this documents is forward looking and not historical data. These forward-looking statements are based on opinions, projections and current assumptions including, but not limited to, assumptions concerning the Group’s current and future stra
Slide 93: Thank you!
Thank ycou! Merci - Danke - Grazie - Készéném - Obrigada - Cnacn60 - BUBESTE WEL CUfOAPI Active Solutions for Health