Page 1

16 November , 2021 Azelis reports strong momentum in the first nine months of 2021 Highlights Group performance remained strong in the third quarter ( Q3 2021 ) , with quarterly revenue growing 31.5 % year - on - year to EUR 728.2m . This brings total revenue for the first nine months ( 9M 2021 ) to EUR 2,037.7m , representing growth of 20.7 % , of which 13.6 % was organic . • Adjusted EBITA grew 39.2 % in Q3 2021 , bringing 9M 2021 adjusted EBITA to EUR 200.5m , implying margin expansion of 98 bps to 9.8 % during the period . • In 9M 2021 , Azelis completed 10 acquisitions representing total full year revenue of ca. EUR 425m . • Free cash flow increased 43.7 % to EUR 151.6m , implying FCF conversion ratio of 74.9 % in 9M 2021 ( 96.6 % over the last twelve months ) . • Following a successful IPO , net debt at the end of September stood at EUR 829.6m , compared to EUR 1.5bn at the end of June 2021 with leverage ratio reduced from 5.4x to 2.7x during the period . ● • The Group was awarded an EcoVadis Platinum rating in July , underscoring its achievements and ongoing commitments to Sustainability Azelis Group Highlights ( EUR m unless indicated ) Life Sciences Industrial Chemicals Revenue Gross Profit Gross Profit Margin Adjusted EBITA¹ Adjusted EBITA Margin Conversion Margin² Free Cash Flow FCF conversion ratio³ Net Working Capital / Sales Net debt 9M 2021 1,260.3 777.4 2,037.7 467.0 22.9 % 200.5 1,048.9 639.7 1,688.6 371.3 22.0 % 149.6 8.9 % 40.3 % 105.5 69.8 % 12.7 % 1,167.1 Leverage ratio 5.7x ( 1 ) Adjusted EBITA represents operating profit or loss before amortization and impairment of intangible assets and excluding adjustments ( 2 ) Conversion margin defined as Adjusted EBITA / Gross profit ( 3 ) FCF conversion ratio represents Free Cash Flow divided by Adjusted EBITDA less lease payments azelis 9M 2020 9.8 % 42.9 % 151.6 74.9 % 14.8 % 829.6 2.7x Reported Change 20.2 % 21.5 % 20.7 % 25.8 % 93 bps 34.0 % 98 bps 265 bps 43.7 % 510 bps 210 bps -28.9 % -3.0x Constant Currency 22.5 % 24.3 % 22.9 % 29.9 % 36.8 % Comment from Dr. Hans Joachim Müller , CEO : I am pleased to report continued positive momentum across our businesses , as reflected in the strong organic revenue growth of 13.6 % . In addition , we completed 10 acquisitions during the period in - line with our growth strategy . We accelerated our growth in Asia Pacific with the acquisition of 7 companies across the region , and established a strong foothold in the specialty Flavors and Fragrances market with the acquisition of Vigon in the US and Quimdis in France . Despite our continued growth investments , we delivered 34.0 % adjusted EBITA growth and generated 43.7 % higher free cash flow . At the same time , we delivered on our Sustainability agenda , achieving a Platinum rating from EcoVadis in July . Our achievements in 9M 2021 reinforce my confidence that we will continue to deliver strong performance for the remainder of the year . Innovation through formulation