Azenta, Inc. · NASDAQ:AZTA

Azenta — Investor Day (March 2024)

66 slides from Azenta's investor day presentation, Mar 14, 2024

Slide 1: Transforming our Platform for Sustained Profitable Growth Investor Day
© 2024 Azenta, Inc. All rights reserved Transforming our Platform for Sustained Profitable Growth Investor Day March 14, 2024
Slide 2: Welcome
Azenta Life Sciences | Proprietary and confidential. Welcome Sara Silverman Head of Investor Relations 2
Slide 3: Safe Harbor Statement
© 2024 Azenta, Inc. All rights reserved Safe Harbor Statement 3 “Safe Harbor” Statement under the U.S. Private Securities Litigation Reform Act of 1995; certain matters in this presentation, including forecasts of future demand and future Company performance, are forward-looking statements that are
Slide 4: Investor Day Agenda
© 2024 Azenta, Inc. All rights reserved Transforming our Platform for Sustained Profitable Growth 4 I N V E S T O R D A Y A G E N D A Topic Speaker Introduction Sara Silverman, Head of IR Strategic Overview & Vision Steve Schwartz, President & CEO Q&A Break Financial Review Herman Cueto, EVP & CFO Q
Slide 6: Transforming our Platform for Sustained Profitable Growth
Azenta Life Sciences | Proprietary and confidential. Transforming our Platform for Sustained Profitable Growth Steve Schwartz President and Chief Executive Officer 6
Slide 8: Our Path to Sustainable, Profitable Growth
© 2024 Azenta, Inc. All rights reserved Our Path to Sustainable, Profitable Growth 8 K E Y M E S S A G E S F O R T H E D A Y Long-term opportunity enabled by near-term transformation 1 2 3 Investing in transformation for scale and profitability Strong positions in large, attractive markets Positione
Slide 9: Agenda: High value, differentiated platform
© 2024 Azenta, Inc. All rights reserved Transforming our Platform for Sustained Profitable Growth 9 A G E N D A High value, differentiated platform Uniquely positioned to outperform end market growth Investing in multiple growth drivers
Slide 10: A Well-Established Global Life Sciences Leader
© 2024 Azenta, Inc. All rights reserved $665M B Medical 17% S a mple Management 46% Multiomics 3 7 % A Well-Established Global Life Sciences Leader Data as of FY’23 (12 months ended 9/30/23) 10 Revenue by Region Key Metrics 54% NA 10% Africa 8% China 20% Europe 8% APAC Other A T A G L A N C E 1 Bill
Slide 11: Highly Differentiated Sample Management Portfolio
© 2024 Azenta, Inc. All rights reserved Highly Differentiated Sample Management Portfolio Provides Comprehensive End-to-End Solutions 11 Sample Sourcing Storage, Automation and Logistics Consumables & Instruments Genomics and Analytical Services Data and Informatics Sample / Patient Drug Development
Slide 12: Our Customers are at the Forefront of Scientific Breakthroughs
© 2024 Azenta, Inc. All rights reserved Our Customers are at the Forefront of Scientific Breakthroughs from Discovery to Delivery 33 Nobel laureate labs use Azenta 27,500 Citations in scientific journals 33 of 50 Top customers purchase across multiple business lines 13,000+ Total customers served by
Slide 13: Agenda: Uniquely positioned to outperform
© 2024 Azenta, Inc. All rights reserved Transforming our Platform for Sustained Profitable Growth 13 A G E N D A High value, differentiated platform Uniquely positioned to outperform end market growth Investing in multiple growth drivers
Slide 14: Leveraging Competitive Advantages to Capture Market Share
© 2024 Azenta, Inc. All rights reserved Leveraging Competitive Advantages to Capture Market Share 14 1 2 3 4 5 Unique portfolio with differentiated offerings Cutting edge technologies wherever we operate Best-in-class team with > 400 advanced degree scientists Company size enables us to be nimble Th
Slide 15: Portfolio Positioned to Capitalize on Market Trends
© 2024 Azenta, Inc. All rights reserved Portfolio Positioned to Capitalize on Market Trends 15 Novel Modalities Driving Demand for Sample Products & Services >20% Growth expected in patients treated by cell therapies Cell & Gene Therapy, the Next Frontier ~2K Cell & Gene Therapy active trials today
Slide 16: ~$11B TAM Provides Significant Opportunity
© 2024 Azenta, Inc. All rights reserved ~$11B TAM Provides Significant Opportunity 16 ~$11B Market Note: B Medical TAM includes sample sourcing opportunity plus vaccine cold chain Source: Market Reports, Independent, third party commissioned analysis, internal estimates • Large, diverse market <10%
Slide 17: Agenda: Investing in multiple growth drivers
© 2024 Azenta, Inc. All rights reserved High value, differentiated platform Uniquely positioned to outperform end market growth Investing in multiple growth drivers Transforming our Platform for Sustained Profitable Growth 17 A G E N D A
Slide 18: Multiple Growth Drivers for Near and Longer-Term Growth
© 2024 Azenta, Inc. All rights reserved Multiomics Multiple Growth Drivers for Near and Longer-Term Growth 18 Segment % of FY’23 Revenue Key Growth Drivers B Medical Sample Management Solutions 46% 37% 17% • Capitalizing on wave of samples • Conversion to automation • New scientific service offering
Slide 19: Multiple Growth Drivers for Near and Longer-Term Growth
© 2024 Azenta, Inc. All rights reserved Multiomics Multiple Growth Drivers for Near and Longer-Term Growth 19 Segment % of FY’23 Revenue Key Growth Drivers B Medical Sample Management Solutions 46% 37% 17% • Capitalizing on wave of samples • Conversion to automation • New scientific service offering
Slide 20: Meaningful Discoveries Start with High Quality Samples
© 2024 Azenta, Inc. All rights reserved Cryo (-190°C) -80°C -20°C 2.6B Samples Meaningful Discoveries in Life Sciences Start with High Quality Samples. Billions of them… 20 S A M P L E S A R E A T T H E C E N T E R O F E V E R Y T H I N G W E D O Note: Metrics include research and clinical trial sam
Slide 21: Automated Store Systems Applications Continue to Expand
© 2024 Azenta, Inc. All rights reserved FY'20 FY'21 FY'22 FY'23 Automated Store Systems Applications Continue to Expand into New Areas 21 • Strong competitive moat built over the past decade of innovation investments • Cryo for Cell and Gene Therapy is a unique enabler • New vectors expand addressab
Slide 22: Customers Increasingly Look to Azenta for Outsourced Repository Services
© 2024 Azenta, Inc. All rights reserved Customers Increasingly Look to Azenta for Outsourced Sample Repository Services • Sample collection size and complexity are driving sustained growth • Much more than a storage repository as we now handle ~1 million sample transactions per month • Going forward
Slide 23: BioArc Ultra is the Transformative Solution
© 2024 Azenta, Inc. All rights reserved BioArc Ultra is the Transformative Solution to Address the Demand Wave 23 S A M P L E M A N A G E M E N T S O L U T I O N S
Slide 24: Automation Meaningfully Simplifies Operations
© 2024 Azenta, Inc. All rights reserved Automation Meaningfully Simplifies Operations 24 • Significant footprint reduction • >75% reduction in energy consumption, C02 emissions • Dramatic reduction in cycle time • Significant cost efficiency 3 BioArc Ultras ~ 4,800 Sq. Ft 80 ft 60 ft 450 ft 235 ft B
Slide 25: Multiple Growth Drivers for Near and Longer-Term Growth
© 2024 Azenta, Inc. All rights reserved Multiomics Multiple Growth Drivers for Near and Longer-Term Growth 25 Segment % of FY’23 Revenue Key Growth Drivers B Medical Sample Management Solutions 46% 37% 17% • Capitalizing on wave of samples • Conversion to automation • New scientific service offering
Slide 26: New Areas Beginning to Contribute to Growth
© 2024 Azenta, Inc. All rights reserved FY'21 FY'23 $248 $225 New Areas Beginning to Contribute to Growth on Top of a Healthy Base Business 26 ~5% CAGR >20% CAGR from New Growth New Growth Areas: Areas • Proteomics • Single cell • Clinical services M U L T I O M I C S ~3% CAGR from Base Business San
Slide 27: We are Investing to Stay in Front of Our Opportunities
© 2024 Azenta, Inc. All rights reserved We are Investing to Stay in Front of Our Opportunities 27 Investing to Remain at the Forefront of NGS Technology Transformation M U L T I O M I C S → Investments for sustained leadership in new scientific areas ‒ Proteomics ‒ Single cell ‒ Clinical services →
Slide 28: Multiple Growth Drivers for Near and Longer-Term Growth
© 2024 Azenta, Inc. All rights reserved Multiple Growth Drivers for Near and Longer-Term Growth 28 Multiomics Segment % of FY’23 Revenue Key Growth Drivers B Medical Sample Management Solutions 46% 37% 17% • Capitalizing on wave of samples • Conversion to automation • New scientific service offering
Slide 29: Near Term Repositioning, Enhancing Profitability
© 2024 Azenta, Inc. All rights reserved Near Term Repositioning, Enhancing Profitability 29 B M E D I C A L VCC Africa 67% VCC Asia 6% VCC LatAm 13% Non VCC 14% (Exiting) Quarterly Revenue Scenarios $10M $25M >$40M Adj. EBITDA Margin ~Breakeven Mid-teens % >20% B Medical -- Today • >80% of revenue a
Slide 30: Sample Acquisition Opportunities Enabled by B Medical Platform
© 2024 Azenta, Inc. All rights reserved Significant Upside Opportunities from Sample Acquisition Enabled by B Medical Platform 30 B M E D I C A L The Opportunity B Medical Platform Reach in Africa • Human biological samples from Africa have tremendous value for discovery because of genetic diversity
Slide 31: Case Study with 20+ Year Global Big Pharma
© 2024 Azenta, Inc. All rights reserved Case Study with 20+ Year Global Big Pharma Demonstrates Growth in Services Used 31 • Reached >5M samples stored at Azenta • Added Sample Repository Solutions • Added 3 large automated stores • Installed 100M+ sample capacity at HQ • Early adopter of automated
Slide 32: 3-Year Target Revenue Model Summary & Growth Drivers
© 2024 Azenta, Inc. All rights reserved 3-Year Target Revenue Model Summary & Growth Drivers 32 Pro Forma Revenue2 CAGR FY’23-26 5-8% Multiomics Organic growth % MSD • Continued growth in synthesis and new vectors • Technology disruption driving some uncertainty in NGS Sample Management Solutions (“
Slide 33: 3-Year Target Model Summary
© 2024 Azenta, Inc. All rights reserved 3-Year Target Model Summary Pro Forma Revenue Growth1 Adj. EBITDA Margin Free Cash Flow EPS Growth 15-17% in FY’26 $100M+ Cumulative FY’24-26 >45% CAGR FY’23-262 FY26: $0.75 - $1.20 33 5-8% CAGR FY’23-26 1: Pro forma revenue excludes $16M of revenue from produ
Slide 34: FY'24-26 is a Critical Period on Our Journey
© 2024 Azenta, Inc. All rights reserved FY’24-26 is a Critical Period on Our Journey to Longer Term Growth and Profitability 34 2021 to 2023 2024 to 2026 2027+ • Created a unique, standalone life sciences company Launch Azenta Execution Focused Continued Profitable Growth • Investing in defensible g
Slide 35: Q&A
Azenta Life Sciences | Proprietary and confidential. Q&A 35
Slide 36: Break
Azenta Life Sciences | Proprietary and confidential. 10 Minute Break 36
Slide 37: Driving Performance: Our Roadmap for Success
Azenta Life Sciences | Proprietary and confidential. Driving Performance: Our Roadmap for Success Herman Cueto Chief Financial Officer 37
Slide 38: Agenda: Planning for sustained profitable growth
© 2024 Azenta, Inc. All rights reserved Driving Performance: Our Roadmap for Success 38 A G E N D A Planning for sustained profitable growth Transformation for scale and growth – Ascend 2026 Disciplined capital allocation strategy How we will measure success – roadmap to 2026
Slide 39: A Look Back on Recent Results
© 2024 Azenta, Inc. All rights reserved A Look Back on Recent Results. Initiatives Underway to Drive Improved Performance Note: FY’24E based on the midpoint of guidance as previously disclosed on 11/13/23 and 2/7/24. *Non-GAAP financial measures – see reconciliation tables. 39 Revenue ($M) Adjusted
Slide 40: Early Evidence Our Initiatives Are Working
© 2024 Azenta, Inc. All rights reserved >300 bps of adj. EBITDA margin expansion 1H to 2H’23 Completed cost actions announced in FY’23 for $28M in annual savings Strong Q1’24 margin and cash flow performance On track for ~300 bps of adj. EBITDA margin expansion FY’23 to FY’24E Early Evidence Our Ini
Slide 41: Driving Operational Excellence: Building the Foundation For Scale
© 2024 Azenta, Inc. All rights reserved Driving Operational Excellence: Building the Foundation For Scale and Growth 41 • Reduce complexity • Rebuild system infrastructure • Optimize, create standard processes Our Playbook Deliver Measurable Results • Establishing transformation management office wi
Slide 42: Agenda: Transformation for scale and growth
© 2024 Azenta, Inc. All rights reserved Driving Performance: Our Roadmap for Success 42 A G E N D A Planning for sustained profitable growth Transformation for scale and growth – Ascend 2026 Disciplined capital allocation strategy How we will measure success – roadmap to 2026
Slide 43: Launched Transformational Program, Ascend 2026
© 2024 Azenta, Inc. All rights reserved The Opportunity The Solution The Goal Launched Transformational Program, Ascend 2026: Targeting $30-40M in Cost Actions by FY’26 43 • Rapid growth last 10 years – 15+ acquisitions • Accumulated layers of complexity – SG&A is >40% of sales • Infrastructure that
Slide 44: Ascend 2026 Business Transformation Strategy – Situation Today
© 2024 Azenta, Inc. All rights reserved Ascend 2026 Business Transformation Strategy – Situation Today 44 Today Future IT Systems 13 Physical Sites 45 Legal Entities 39 Countries 13 SG&A % of Sales1 41% Adj. EBITDA Margin1,2 4.6% “Ascend’26” Transformation Strategy 1: As of FY 2023 2: Non-GAAP finan
Slide 45: Project Ascend 2026: Key Identified Programs
© 2024 Azenta, Inc. All rights reserved Project Ascend 2026: Key Identified Programs Program Goals Est. savings Total $30-40M 45 Site Rationalization • Reduce from 45 sites in 13 countries to ~25 sites by FY26 • Simplify legal entity structure 1. $10M to $15M IT System Optimization • Reduce key syst
Slide 46: Case Study: Finance Department Simplification
© 2024 Azenta, Inc. All rights reserved FY'23 FY'26 Goal Case Study: Finance Department Simplification 46 Current State:  Cost of Finance department is ~5% of sales vs benchmark <2% Root Cause:  Complexity from 15+ acquisitions over the past decade Situation Results Cost of Finance 1-2pts of impro
Slide 47: Ascend'26 – What Success Will Look Like
© 2024 Azenta, Inc. All rights reserved Ascend’26 Business Transformation Strategy – What Success Will Look Like Sept. 30, 2026 47 Today Today Sept. 30, 2026 IT Systems 13 6 Physical Sites 45 <25 Legal Entities 39 <25 SG&A % of Sales1 41% ~Mid-30%s Adj. EBITDA Margin1,2 4.6% 1: As of FY 2023 2: Non-
Slide 48: What to Expect: Timing of Cost Savings
© 2024 Azenta, Inc. All rights reserved What to Expect: Timing of Cost Savings 48 Profit Improvement Annual Savings by Year Timing ~1,100bps EBITDA Margin Expansion FY’23-261 FY’24 • Phase I and II initiatives announced in FY23 • Nominal Ascend benefits $18M FY’24 FY’25-26 • Phase II initiatives ann
Slide 49: Agenda: Disciplined capital allocation strategy
© 2024 Azenta, Inc. All rights reserved Driving Performance: Our Roadmap for Success 49 A G E N D A Planning for sustained profitable growth Transformation for scale and growth – Ascend 2026 Disciplined capital allocation strategy How we will measure success – roadmap to 2026
Slide 50: $1.5B Capital Deployed Since Becoming Azenta
© 2024 Azenta, Inc. All rights reserved Organic Investment Acquisitions Return Cash to Shareholders $1.5B Capital Deployed Since Becoming Azenta in 2022 50 12% 34% 54% Over 2 years, $1.5B of capital deployed • R&D ~5% of revenue • CAPEX investments for growth • B Medical • $1B share repurchases • Ba
Slide 51: Going Forward: Consistent Capital Deployment
© 2024 Azenta, Inc. All rights reserved Going Forward: Consistent Capital Deployment Toward Value Creating Initiatives 51 • R&D ~5% of revenue • Capital expenditures 6-8% of revenue • Strategic, tuck-in M&A Invest in the Core • $500M planned for FY’24 Share Repurchases Free Cash Flow Cumulative $100
Slide 52: Agenda: How we will measure success
© 2024 Azenta, Inc. All rights reserved Driving Performance: Our Roadmap for Success 52 A G E N D A Planning for sustained profitable growth Transformation for scale and growth – Ascend 2026 Disciplined capital allocation strategy How we will measure success – roadmap to 2026
Slide 53: 3-Year Target Revenue Model Summary & Growth Drivers
© 2024 Azenta, Inc. All rights reserved 3-Year Target Revenue Model Summary & Growth Drivers 53 Pro Forma Revenue2 CAGR FY’23-26 5-8% Multiomics Organic growth % MSD • Continued growth in synthesis and new vectors • Technology disruption driving some uncertainty in NGS Sample Management Solutions (“
Slide 54: 3-Year Target Model Summary
© 2024 Azenta, Inc. All rights reserved 3-Year Target Model Summary Pro Forma Revenue Growth1 Adj. EBITDA Margin Free Cash Flow EPS Growth 15-17% in FY’26 $100M+ Cumulative FY’24-26 >45% CAGR FY’23-262 FY26: $0.75 - $1.20 54 5-8% CAGR FY’23-26 1: Pro forma revenue excludes $16M of revenue from produ
Slide 55: Programs Identified to Deliver 300-400 bps Margin Improvement Per Year
© 2024 Azenta, Inc. All rights reserved Programs Identified to Deliver 300-400 bps Adj. EBITDA Margin Improvement Per Year FY’24-26 & Long-Term Margins >20% 55 4.6% 15-17% 20%+ ~1,100 bps margin expansion Note: FY2023 adj. EBITDA is a non-GAAP financial measure – see reconciliation tables in appendi
Slide 56: Underlying Modeling Assumptions
© 2024 Azenta, Inc. All rights reserved Underlying Modeling Assumptions 56 FY’24 FY’25 & 26 Interest Income $27M to $29M ~$12-16 million per year Tax Rate 33% to 37% 27% to 29% Average Share Count ~52 million ~ 47.5 million Debt No Debt No Debt Note: FY’24 guidance as previously disclosed on 11/13/2
Slide 57: Executing Clear Strategy for Growth
© 2024 Azenta, Inc. All rights reserved Executing Clear Strategy for Growth 57 I N S U M M A R Y 1. Strong, differentiated portfolio in attractive end markets 2. Transforming Azenta for scalable, profitable growth 3. Initiatives underway to improve margins 4. Continued disciplined capital allocation
Slide 58: Q&A
Azenta Life Sciences | Proprietary and confidential. Q&A 58
Slide 59: Our Path to Sustainable, Profitable Growth
© 2024 Azenta, Inc. All rights reserved Our Path to Sustainable, Profitable Growth 59 I N S U M M A R Y Long-Term Opportunity Enabled By Near-Term Transformation 1 2 3 Investing in transformation for scale and profitability Strong positions in large, attractive markets Positioned to outperform in an
Slide 60: Feedback on Today's Event
© 2024 Azenta, Inc. All rights reserved Feedback on Today’s Event Thank you for joining us for our 2024 Investor Day. We hope you found it informative. Your feedback is important to us, so we would appreciate it if you could fill out a quick survey - it should take only 2-3 minutes. The answers are
Slide 62: New Three Segment Structure Starting FY'24
© 2024 Azenta, Inc. All rights reserved Next Generation Sequencing 15% Sanger Sequencing 9% Gene Synthesis & Other 13% Sample Repository Solutions 17% Consumables & Instruments 12% Ultracold Systems & Services 17% B Medical Systems 17% New Three Segment Structure Starting FY’24 ▪ Temperature-control
Slide 63: Broad Exposure to End Markets
© 2024 Azenta, Inc. All rights reserved Broad Exposure to End Markets 63 Revenue Breakdown by End Market (FY’23) 45% Pharma/ Biotech 15% Medical/ Government / Non-Profit 15% Emerging Markets 9% Other 16% Academic
Slide 64: 10+ Years Building a Leading-Edge Life Sciences Company
© 2024 Azenta, Inc. All rights reserved 64 •RTS •Nexus 2011-2012 2013-2014 •Matrical •BioCision 1 2015-2016 •FluidX •BioStorage Technologies 2017-2018 •BioCision 2 •PBMMI •FreezerPro •4titude Ltd. •BioSpeciMan 2019-2020 2021 Azenta Life Sciences Launch 2022-2023 10+ Years Building a Leading-Edge Lif
Slide 65: Portfolio Offering Examples
© 2024 Azenta, Inc. All rights reserved Portfolio Offering Examples 65 BioStoreTM BioStoreTM III Cryo Automated Stores Sample Repository Solutions Genomic Services Next Generation Sequencing Sanger Sequencing Gene Synthesis Consumables & Instruments SampleStoreTM B Medical Systems
Slide 66: Net Income to Adjusted EBITDA Reconciliation
© 2024 Azenta, Inc. All rights reserved Net Income to Adjusted EBITDA Reconciliation Continuing Operations 66 $ millions FY22 FY23 Net income 2,132.9 (14.3) (Income) Loss from discontinued operations, net of tax (2,144.1) 1.4 Net income (Loss) from continuing operations (11.3) (12.9) Adjustments: In

Azenta — Investor Day (March 2024) on 6ix

Azenta — Investor Day (March 2024)

Slide 1: Transforming our Platform for Sustained Profitable Growth Investor Day

Slide 2: Welcome

Slide 3: Safe Harbor Statement

Slide 4: Investor Day Agenda

Slide 5: Azenta – A Leading, Differentiated Life Sciences Company

Slide 6: Transforming our Platform for Sustained Profitable Growth

Slide 7: Our Purpose: Enabling Breakthroughs Faster

Slide 8: Our Path to Sustainable, Profitable Growth

Slide 9: Agenda: High value, differentiated platform

Slide 10: A Well-Established Global Life Sciences Leader

Slide 11: Highly Differentiated Sample Management Portfolio

Slide 12: Our Customers are at the Forefront of Scientific Breakthroughs

Slide 13: Agenda: Uniquely positioned to outperform

Slide 14: Leveraging Competitive Advantages to Capture Market Share

Slide 15: Portfolio Positioned to Capitalize on Market Trends

Slide 16: ~$11B TAM Provides Significant Opportunity

Slide 17: Agenda: Investing in multiple growth drivers

Slide 18: Multiple Growth Drivers for Near and Longer-Term Growth

Slide 19: Multiple Growth Drivers for Near and Longer-Term Growth

Slide 20: Meaningful Discoveries Start with High Quality Samples

Slide 21: Automated Store Systems Applications Continue to Expand

Slide 22: Customers Increasingly Look to Azenta for Outsourced Repository Services

Slide 23: BioArc Ultra is the Transformative Solution

Slide 24: Automation Meaningfully Simplifies Operations

Slide 25: Multiple Growth Drivers for Near and Longer-Term Growth

Slide 26: New Areas Beginning to Contribute to Growth

Slide 27: We are Investing to Stay in Front of Our Opportunities

Slide 28: Multiple Growth Drivers for Near and Longer-Term Growth

Slide 29: Near Term Repositioning, Enhancing Profitability

Slide 30: Sample Acquisition Opportunities Enabled by B Medical Platform

Slide 31: Case Study with 20+ Year Global Big Pharma

Slide 32: 3-Year Target Revenue Model Summary & Growth Drivers

Slide 33: 3-Year Target Model Summary

Slide 34: FY'24-26 is a Critical Period on Our Journey

Slide 35: Q&A

Slide 36: Break

Slide 37: Driving Performance: Our Roadmap for Success

Slide 38: Agenda: Planning for sustained profitable growth

Slide 39: A Look Back on Recent Results

Slide 40: Early Evidence Our Initiatives Are Working

Slide 41: Driving Operational Excellence: Building the Foundation For Scale

Slide 42: Agenda: Transformation for scale and growth

Slide 43: Launched Transformational Program, Ascend 2026

Slide 44: Ascend 2026 Business Transformation Strategy – Situation Today

Slide 45: Project Ascend 2026: Key Identified Programs

Slide 46: Case Study: Finance Department Simplification

Slide 47: Ascend'26 – What Success Will Look Like

Slide 48: What to Expect: Timing of Cost Savings

Slide 49: Agenda: Disciplined capital allocation strategy

Slide 50: $1.5B Capital Deployed Since Becoming Azenta

Slide 51: Going Forward: Consistent Capital Deployment

Slide 52: Agenda: How we will measure success

Slide 53: 3-Year Target Revenue Model Summary & Growth Drivers

Slide 54: 3-Year Target Model Summary

Slide 55: Programs Identified to Deliver 300-400 bps Margin Improvement Per Year

Slide 56: Underlying Modeling Assumptions

Slide 57: Executing Clear Strategy for Growth

Slide 58: Q&A

Slide 59: Our Path to Sustainable, Profitable Growth

Slide 60: Feedback on Today's Event

Slide 61: Appendix

Slide 62: New Three Segment Structure Starting FY'24

Slide 63: Broad Exposure to End Markets

Slide 64: 10+ Years Building a Leading-Edge Life Sciences Company

Slide 65: Portfolio Offering Examples

Slide 66: Net Income to Adjusted EBITDA Reconciliation