Slides
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Lonza Capital Markets Day 2026 Vacaville, CA
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Agenda Today’s Presenters 2 Wolfgang Wienand, PhDChief Executive OfficerGordon BatesHead of Integrated Biologics Philippe DeeckeChief Financial Officer CMD 2026 | 14 October 2026 CEO Session CFO Session Q&A CEO & CFO Session INB Session Q&A INB Session 09:00 – 10:00 10:00 – 10:20 10:20 – 10:50 10:50 – 11:30 11:30 – 11:50
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3 DisclaimerLonza Group Ltd has its headquarters in Basel, Switzerland, and is listed on the SIX Swiss Exchange. It has a secondary listing on the Singapore Exchange Securities Trading Limited (“SGX-ST”). Lonza Group Ltd is not subject to the SGX-ST’s continuing listing requirements but remains subject to Rules 217 and 751 of the SGX-ST Listing Manual.Forward-looking statements contained herein are qualified in their entirety as there are certain factors that could cause results to differ materially from those anticipated. Any statements contained herein that are not statements of historical fact (including statements containing the words “outlook,” "guidance," “believes,” “plans,” “anticipates,” “expects,” “estimates” and similar expressions) should be considered to be forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainty.There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including the timing and strength of new product offerings; pricing strategies of competitors; the company’s ability to continue to receive adequate products from its vendors on acceptable terms, or at all, and to continue to obtain sufficient financing to meet its liquidity needs;difficulty to maintain relationships with employees, customers and other business partners; and changes in the political, social and regulatory framework in which the company operates, or in economic or technological trends or conditions, including currency fluctuations, inflation and consumer confidence, on a global, regional or national basis.In particular, the assumptions underlying the section “Organic Growth Model" herein may not prove to be correct. The statements in the section“Organic Growth Model"constitute forward-looking statements and are not guarantees of future financial performance.Lonza’s actual results of operations could deviate materially from those set forth in the section“Organic Growth Model"as a result of the factors described above or other factors. Investors should not place undue reliance on the statements in the section “Organic Growth Model". Except as otherwise required by law, Lonza disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after this presentation was published.CMD 2026 | 14 October 2026
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Agenda Lonza is the innovation-to-launch integrator3 3 Lonza is a structural growth compounder4 4 The Lonza Engine® delivers1 1 The highly attractive Mammalian CDMO market1 The CDMO model is structurally attractive2 2 Lonza INB – innovation-to-launch integrator2 Wolfgang Wienand – CEOPhilippe Deecke – CFOGordon Bates – Head of INB CMD 2026 | 14 October 2026 4 Increased focus on FCF and ROIC Q3 2026 qualitative update Structural growth compounder Clear path to sales and margin improvements
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5 The One Lonza StrategyWe focus on our pure-play CDMO business We win across high-value innovative modalities We differentiate through the Lonza Engine® We build a resilient and competitive global infrastructure We allocate capital with discipline at high returns We compound value through resilient and repeatable profitable above-market growth
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Business Use Only 1The Lonza Engine® delivers CMD 2026 | 14 October 2026
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7 The Lonza Engine® in action since 2024 | We are gaining significant momentum Unparalleled customer partnershipsEnd-to-end execution excellenceLeading scientific, technological, digital ecosystem 2 Plug-and-play investment & integration capabilities5High-performance teams1 >100 commercial molecules3 using Lonza’s GS® system mAbs Industry-leading NPS x2Big Pharmax1.5Small Pharma / Biotechs Improvement1 70% of new molecules signed into integrated offerings4 Integration and scaling of innovative technologies Organic ramp-up, PMI and CDMO transformation >80% Top 200 leaders’ engagement index score2 3 3pptsReduction in employee turnover1 ADC toolbox Leadinglinker technologies and integrated offerings +35%Phase II / III integrated biologics programs 1. Since 2024. 2. As of 2025. 3. Since 2012. 4. YTD 2026, from 45% in 2025. 4 VacavilleVisp CMD 2026 | 14 October 2026
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Creation of a pure-play CDMO | With a new operating model and four divestments we have completed our transformation at high pace 8CMD 2026 | 14 October 20261. Including Licensing. 2. Including Tampa Site. Pure-Play CDMO Combining leading hybrid solutions from chemistry and biologyPioneering and scaling cutting-edge technologiesAdvancing best-in-class integrated offerings Proprietary technologies and premium offeringsMammalian1 Drug ProductsSmall MoleculesBioconjugatesCell & GenemRNAMicrobialBioscience CapsulesHealth Ingredients Micronization site in Monteggio (CH) from Small MoleculesCocoon® Personalized Medicine from Cell & Gene MODA® software platform from Bioscience60% divestment to Lone Star Funds2 by year-end 2026 Integrated BiologicsAdvanced SynthesisSpecialized ModalitiesCapsules & Health Ingredients
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Powered by the Lonza Engine® | Our three Business Platforms are putting our One Lonza Strategy into action CMD 2026 | 14 October 2026 Combining leading hybrid solutions from chemistry and biologyPioneering and scaling cutting-edge technologiesAdvancing best-in-class integrated offerings-60% of One Lonza sales1 -11 growth projects-#1 capacity in US-#1 in commercial mammalian launches-Globally leading Lonza GS® Gene Expression System Integrated BiologicsAdvanced SynthesisSpecialized Modalities -25% of One Lonza sales1 -10 growth projects-First CDMO ever (1970s)-Leading in HPAPI ADC and #1 in commercial ADC launches-End-to-end ADC toolbox (mAb, linker, payload, F&F) -15% of One Lonza sales1 -4 growth projects-Leading in CGT and microbial-#1 in commercial CGT launches-At the edge of science, curing disease, e.g. Casgevy®, Zimislecel High absolute growthHigh rel. & increasing absolute growthHigh relative & future growth= = = 1. FY 2025.
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10 New executive assignments and new rules of engagement | Stronger global functions support stronger execution across One Lonza StrategySharpen Lonza’s strategy, build opportunity pipeline and accelerate through bolt-on M&A CustomersCreate a harmonised integrated go-to-market, ensure superior customer experience and kick-start commercial excellence OperationsElevate operational standards and execution discipline through operational excellence and deliver CapEx excellence QualityElevate quality standards, harmonize quality management system and deliver quality excellence Intelligence & AnalyticsLeverage unique data pool through analytics and AI capabilities – newly established Lonza AI Factory LAIF® CommunicationsBring the One Lonza Strategy to life internally and externally and steward cultural transformation to competitive toughness Daniel NieperChief Strategy Officer20 Jan 2025 Matthew MoorcroftChief Intelligence & Analytics Officer1 Apr 2026 Hans TreesGlobal Head ofCommunications1 Sep 2026 Samanta CimitanChief Commercial Officer1 Jan 2027 Jason BerndtHead of Group Operations1 Oct 2025 Maria Soler NunezChief Quality Officer1 Oct 2025 CMD 2026 | 14 October 2026
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11 SalesIn CHF bn 5.56.5 FY24FY25FY26E 7.0–7.2 C CORE EBITDAIn CHF bn 1.7 2.1 FY24FY25FY26E 2.3–2.530% 33–34%32% 2024 2025 2026 H1 2024: Vacavillelarge-scalemammaliansiteacquisition(closedin Q4) H1 2025: Visp HPAPI asset start-up H1 2026: Visp large-scale mammalian asset start-up H2 2025: Visp mid-scale microbial asset start-up H2 2026: Visp large-scale bioconjugation asset start-upH2 2024: Portsmouth small-scale mammalian asset start-up MetUpgrade beatenMeetingMetUpgrade beatenRaising Note: Delivery assessed against financial outlook as issued (initial outlook, H1 update, full-year results). Figures at AER for CDMO business only, excluding Capsules & Health Ingredients. Wekeepthe promiseswemake| Since2024, Lonza ismeeting, beatingand raisingitsfinancialoutlooksand successfullybringinggrowthprojectsonlineCER Sales growth CORE EBITDA margin 22%11-12% CMD 2026 | 14 October 2026
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-Acquisition in 2024 from Roche for CHF 1.1 billion-Capacity of 332,000 liters-Peak sales of up to CHF 2 billion1 in early 2030s-Peak ROIC at >30% World-scale Biologics SiteVacaville, US ~CHF 500 million CapEx ongoing for CDMO readiness “A truly seamless tech transfer into Vacaville – execution at a level I have rarely experienced in my career.”Head of External Manufacturing & Supply, third-party customer Strong team continuity with ~95% retention Exiting Roche business already fully compensated by product portfolio of new customers 12 First successful tech transfer and US FDA inspection Acquisition of world-scale US biologics capacity | We seamlessly transitioned from successful integration to winning new business to drive future growth Strong customer interest in support of 2030s business 1. At constant exchange rates with USD/CHF exchange rate of 2026.
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Business Use Only CMD 2026 | 14 October 2026 The CDMO modelisstructurallyattractive 2
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6-7% pharma market growth 14CMD 2026 | 14 October 2026Note: HPAPI = Highly Potent Active Pharmaceutical Ingredient; ADC = Antibody–Drug Conjugate.1. Based on Evaluate Pharma (2026), rounded to 5% brackets. 199019952000200520102015202020252030E +6-7% CAGR Global annual Pharma sales1 in USDSmall Molecules (HPAPI)Small Molecules (non-HPAPI)AntibodiesProtein & Biologic Peptides ADCsVaccinesOtherEmerging high-growth modalities +1-2% fromactivemarketselection ~10%~20%~25% Lonza coverageSales CAGR2025-20301 ~5 % ~10% <5% ModalitiesEmerging high-growth modalitiesADCsAntibodiesSmall Molecules (HPAPI)Protein & Biologic Peptides Vaccines Covered by LonzaPartially covered by Lonza Small Molecules (non-HPAPI)~5% Successive innovation waves and expanding access have sustained pharma growthLonza’s active market selection enables growth above-market average Strong underlying growth of the pharma market | Lonza focuses on the most attractive commercial segments to enable above-market profitable growth
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Coverage of >90% of the innovative pipeline | Lonza has a strong presence in today’s and tomorrow’s growth modalities to unlock long-term growth 20152025 ~3,800 ~8,000 15 Covered by LonzaPartially covered by Lonza Small Molecules (HPAPI & non-HPAPI) Antibodies >50%AllogeneicCell Therapies~30%Viral Vectors ~20%Autologous Cell Therapies Others3 mRNA~10% Note: ADC = Antibody–Drug Conjugate.1. Based on Citeline (2026), Phase I–III. 2. Based on Evaluate Pharma (2026). 3. E.g., radiopharmaceuticals, oligonucleotides. Emerging modalities CMD 2026 | 14 October 2026 Other (e.g., chem. Peptide)ADCsProteins & biologic Peptides Vaccines Today’s key growth modalities >90% accessible by Lonza’s technology platforms +8% CAGR Early-phase development accelerated by AI and by rise of Chinese innovation Global innovative clinical pipeline by modality # of candidates1 Sales CAGR 2025-20302 of emerging high-growth modalitiesLonza coverage
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The CDMO business model | Outsourcing gives customers expertise and flexibility, CDMOs create value by pooling demand, diversifying risks and increased utilization 16CMD 2026 | 14 October 2026 Lifecycle integration across assets and programs deepens long-term customer relationships Risk pooling across customers and programs reduces exposure to individual asset failures and demand volatility Attractive returns from specialized capabilities where special assets and know-how deliver differentiated value Economy of scale at high utilization through demand pooling across customers Scale and expertise underpin attractive and resilient CDMO economics +1-2% CDMO market growth from outsourcing Outsourcing growth reflects sustainable CDMO value for Pharma and BiotechScale and modality breadth enable risk diversification over large portfolios and create attractive CDMO economicsRisk reduction through lower upfront manufacturing CapEx at high clinical risk Specialized expertise through best-in-class manufacturing and regulatory capabilities Fund reallocation from manufacturing assets to innovation, clinical development and commercialization Rapid and secure scale to faster commercialization through existing multi-purpose capacity
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17 Share of mammalian capacity In %1 2025 2035E2030E Mammalian utilization scenarios in %1 20252035EPharmaCDMO2030E CMD 2026 | 14 October 2026 4.8% 2015 4.6% 2020 5.1% 2025 5.0% 2030E CapEx at ~3% CAGR 2015–25, no increase expected through 2030 – shift to US likely~USD 600bn US Pharma investments announced but mostly expected outside of manufacturing –~5% broken ground to date (major share for GLP-1)3 Large Pharma CapEx / Sales ratio In %2 1. Lonza internal analysis, based on publicly announced capacity expansions (2026). 2. 18 of Top 20 PharmaCos based on 2024 Rx sales; Eli Lilly / Novo Nordisk excluded (GLP-1). Forecasts based on Bloomberg consensus estimates. 3. Company press releases (2025–2026). Our proprietary bottom-up market models highlight… Lonza’s proprietary supply-demand market models | Demand isexpectedto outgrownewcapacityadditions, prolongingmarketundersupply … continued undersupply of capacity…Pharma investment intensity is expected to remain largely unchanged
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Attractive underlying pharma market and sustainable tailwinds for the CDMO business model | The Lonza Engine® unlocks additional growth, yielding 10-13% Pharma market growth+ Non-cyclical pharmaceutical market growth6–7%Active market selection+ 1–2%Focus on most attractive market segments Increase in outsourcing+ 1–2%Continued Pharma and Biotech outsourcing Lonza's addressable CDMO market growth8–10%=Lonza Engine®+ 2–3% Outperformance due to unique set of strengths Lonza Organic Growth Model= 10–13%Organic CER sales growth on average over time CMD 2026 | 14 October 2026 18
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Business Use OnlyCMD 2026 | 14 October 2026 3 Ready for Design Lonza is the innovation-to-launch integrator
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20CMD 2026 | 14 October 2026 Our‘Science, Technology & Intelligence’ acrossmodalitiesmakescomplextherapiesmanufacturableLeadingtechnologiesbackedby deepscientificexpertiseand extensive dataintelligencefromdecadesof experienceOur‘Lonza O/S’ codifiesand translatesknow-howintoconsistentexecutionComprehensiveend-to-end executionsystemunderonequalitysystem, withconsistentstandardsacrossthe networkOur ‘Infrastructure’ providesglobal scaleand securityof supplyThe leadingCDMO manufacturinginfrastructure, combiningbroadmodalitycoveragewithprovenexecutioncapabilitiesacrossthe world From innovation to launch | Lonza has built a unique value creation system around highlydifferentiatedand comprehensiveCDMO services Lonza’sintegratedmulti-modalitymodelmaximizesaccessto customerinnovationsand valuecapture
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Infrastructure | Lonza’s unique, highly resilient global network enables regional supply chains to serve a more fragmented world across key modalities 211. Lonza capacity based on Mammalian and Small Molecules. 2. Mammalian and Microbial. 3. Bioconjugation of e.g., Antibody-Drug Conjugates. 4. Regional workforce as of H1 2026, excluding CHI. 5. Manufacturing sites supporting Phase II/III or commercial supply, excl. smaller sites like Cell & Gene laboratories. 6. Based on Lonza analysis. Lonza as only CDMO operating on 3 continents at scale on 13 large sites5 Global network capacity distribution aligned with innovative pharma demand – regional demand / supply Most resilient network6 with highest redundancy for security of supply Lonza’s global network ensures proximity to customers and focuses on regions with undersupply or balanced supply1 RoW ~10,000 FTE4 ~5,000 FTE4 ~2,000 FTE4 Existing footprint Potential future investments Small MoleculesBiocon-jugation3 mRNADrug ProductBiologics2 Cell & Gene In balance Undersupply Oversupply Regional supply & demandLonza capacity distribution in %1 CMD 2026 | 14 October 2026
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CHF 8bn cumulative investment90% in commercial / mixed assets8 modalities / technologies30-40% ROIC at peak6 Infrastructure | Lonza continuously invests for short- and mid-term growth across modalities across the globe 221. CapEx > CHF 50m under construction or operational since 2025, incl. Vacaville acquisition (considered accelerated growth CapEx). 2. Excl. Bioscience and Early Development Services. 3. PSD = Particle Spray Drying. 4. Directional ranges: Large CapEx > CHF 500m, medium-size CapEx = CHF 100-500m, small CapEx = CHF 50-100m. 5. ADC = Antibody–Drug Conjugate. 6. CapEx-weighted average, based on Lonza expectations.CMD 2026 | 14 October 2026 Ongoing growth project(s)1,2 2 growth projects 19 growth projects 1 growth project1st US commercial spray-drying CDMO capacity(Bend) -Two PSD3-4 units-Peak sales in mid 2030s-Medium-size CapEx project4 -Multi-purpose payload-linker suites-Peak sales in early to mid 2030s-Medium-size CapEx project4 Commercial HPAPI(Visp) -Highly flexible ADC5 lyophilization filling line-Peak sales in mid 2030s-Medium-size CapEx project4 2nd commercial ADC aseptic fill & finish line(Stein) 3 growth projects Portfolio of 25 ongoing major growth projects1 Recently added growth projects
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Comprehensive set of 9 geopolitical scenarios Optimal network configuration across scenarios 231. Positioning capacity close to customers, innovation and end market demand, considering different extents of geopolitical fragmentation. 2. Securing competitive supply from cost position and economies of scale. Relative resilience score1 Cost competitiveness2 Resilience1 High High Player 1 Player 2 Player 3 Relative ROIC optimization Today2040 CMD 2026 | 14 October 2026 Bottom-up geopolitical scenario planning until 2040Network optimization along 2 dimensions for continued competitive edgeLonza's network today already best-in-class on resilience Infrastructure | To ensure long-term value creation, Lonza strategically optimizes for both resilience and cost efficiency
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Operating System | The Lonza O/S operationalizes our science, technology and infrastructure and turns breakthrough innovations into viable therapies 24Note: O/S = Operating System. BreakthroughinnovationsMammalianDrug ProductSmall MoleculesBioconjugatesCell & GenemRNAMicrobialBioscience USAEuropeRoW Viable therapies for patients The Lonza O/S Lifecycle stage ServicesAnalytical developmentProcess developmentRegulatoryManufacturing ScaleLabPilotMid-scaleLarge-scaleSmall-scale Reliable outcomes Faster time to market Less complexity from less handoffsQuality Management System Pre-clinicalClinical Ph I-IIILaunchCommercial Any phase. Any scale. Across modalities. Across the globe. CMD 2026 | 14 October 2026 Independent of modality, region or scale, Lonza O/S provides the full end-to-end offering from innovation to patientCustomer benefits from the Lonza O/S
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Operating System | The Lonza O/S drives superior customer benefits and runs industry-leading active molecule pipeline 251. As of July 2026. 2. Lonza O/S enabling 1 in 5 US FDA-approved medicines every year, incl. Lonza cell line licensing. 3. 90% of contracts in FY 2025 in Pre-clinical, Phase I / II; 10% in Phase III and Commercial. 4. Top 20 customers by 2025 sales. 5. Incl. ~600 CDMO customers and ~200 Early Development Services customers. contracts signed prior to Phase III3 14 of top 20 customers work across at least 2 of 3 Business Platforms4 Enabling 1 in 5FDA-approved medicines every year2 99% Batch success rate1 90% 95/100 Large Pharma as user base, total ~800 customers5 1,000+ molecules CMD 2026 | 14 October 2026 Standardized processes deliver predictable resultsPredictability builds trust and deep embeddednessTrust at scale in the Lonza O/S creates industry-leading molecule pipeline
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26Note: ADC = Antibody–Drug Conjugate.1. Based on 2025 sales. 2. Investigational New Drug – status granted by FDA to use drug in clinical trials. 3. Subject to customary closing conditions. USD 100bn+end-market sales contain Lonza IP1 460+active licensing agreements100+approved drugs contain Lonza IP Launched GS Ori-Go®, cutting DNA-IND2 to 6 months for mAbs and complex proteinsAcquired Nona Biosciences' blood-brain barrier tech to enable next-gen Alzheimer's therapies3XS Technologies® expression system leads microbial protein / vaccine prod. GSquad® Pro vector system, boosting yields for bispecifics and fusion proteins GS® expression system leads mammalian protein production Partnered with Asimov on in-vivo Lentiviral Vector manufacturing using stable cell-line technologyGlycoConnect®, HydraSpace®, toxSYN® enable next-gen ADCs Licensed Qurient’s dual-payload technology for next-gen ADCs Science, Technology & Intelligence | Lonza holds #1 IP portfolio, the broadest and most licensed in the industry – and continuously expanding CMD 2026 | 14 October 2026 LonzadevelopedTechnology acquisitionLicensing/ partnershipBusiness acquisition Lonza has the broadest and deepest IP, including: Continuously expanding IP to support high growth areas, including:Lonza IP is the most used in the industry
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Science, Technology & Intelligence | We have embarked on a journey to harness the power of 40+ years of process data and build a “cognitive CDMO” 27 Lonza intelligence layerAI connects scientific knowledge with operational data to learn, predict and recommend Lonza applies its data responsibly and with integrity AI target-state vision – we are progressively building towards these capabilitiesAl-accelerateddevelopment &tech transfer Al-guidedmanufacturing Al-enabledqualityDetect quality signals earlier and strengthen proactive quality management 1. All figures cumulative over the last 10 years. 2. Manufacturing. ~1,500tech transfers~3,300clinical molecules~140drug launches in mfg.2 ~32,000batch records ~200regulatory inspections Data sources from the last decade1 CMD 2026 | 14 October 2026 Reuse knowledge across molecules to select experiments and anticipate risk Predict performance and recommend targeted interventions to reduce variability & increase yield Lonza holds the richest library of context data building on 40+ years of experienceFoundation for Lonza’s cognitive CDMO vision
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Science, Technology & Intelligence | AI-guided process optimization successfully turned complex batch histories into targeted actions to drive higher output 28 Contextualize100+ historical batches across reactor conditions, raw materials, feeding profiles and production outcomes RecommendAI converts insights into targeted actions, validated by MSAT1 expert as “human in the loop” Customer valueMore robust and consistent processes with higher performance Al identifies the few process-signal combinations that drive titer and yield to maximize output per batchCustomer example LearnAl discovers the drivers that matter, identifying the key relationships behind titer, yield and process performance Key outcome ~15%output uplift per batch CMD 2026 | 14 October 20261. Manufacturing Science & Technology.
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Business Use OnlyCMD 2026 | 14 October 2026 Lonza is astructural growth compounder 4
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30 Resilient growth through every macro shock over the years | Lonza is accelerating its performance since 2024 Five years from 2019 to 2024Low-teens %Sales CAGR1 +CHF 2.5bnSales2FlatCORE EBITDA margin upliftLow-teens %CORE EBITDA CAGR Acceleration from 2024 to 2026E+16-17%3Sales CAGR1 +3-4ppts3CORE EBITDA margin uplift+2-3ppts4ROIC uplift2xFCF conversion5 uplift Resilient high growth through macro shocks Five acceleration levers at work CMD 2026 | 14 October 20261. Lonza CDMO sales growth at constant exchange rates (CER), excluding Capsules & Health Ingredients and COVID-related business. 2. Excluding Capsules & Health Ingredients. 3. Based on upgraded Outlook 2026 of 11-12% CER sales growth and CORE EBITDA margin of 33-34%, rounded. 4. Calculated as H1 2026 vs FY 2024. 5. FCF as % of EBITDA, for new FCF definition see appendix. Culture of high performance and competitive toughness 2020-2022: COVID-192022: Ukraine war2022-2024: Biotech downturn2026: Iran war2025: US tariffs CapEx ExcellenceCommercial ExcellenceOperational ExcellenceGrowth project maturation Operating Leverage
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Shareholder returns 31 The Lonza Organic Growth Model1 | Weturn disciplinedinvestmentsintoresilient and repeatableprofitable above-marketgrowthat increasingreturns Investment in GrowthSales Growth Margin ExpansionCash GenerationIncreasing FCF conversion5on average over time CORE EBITDA growth ahead of sales growth to reach High thirties marginin the mid-term Low teens3 organic CER sales growthon average over time Organic CapEx of mid-to-high teens % of sales at high returns to reachROIC of 2-3x WACC2in the mid-term Progressive dividends4 Lonza isa StructuralGrowth Compounder: Cash fundsgrowth. Growth createsmorecash. Repeat.CMD 2026 | 14 October 20261. Lonza CDMO business, excludingCapsules& Health Ingredients. 2. WeightedAverage Costof Capital as of 2026. 3. Low teens= 10-13%. 4. Maintainingorincreasingdividendper shareeachyear, mayincludeselectivesharebuybacksfromtime to time. 5. FCF as % of EBITDA.
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Acceleration of the Organic Growth Model | We are ready to double down on bolt-on acquisitions in line with the One Lonza strategy Extend tech offering & create larger product portfoliosSecure long-term growth through new CDMO offeringsExpand in capacity-constrained market & drive innovation Specialized ModalitiesBeyond TodayIntegrated BiologicsAdvanced SynthesisDiversify footprint & double down on attractive niches 32 Fragmented CDMO industryOptional:New modalities Under-utilized pharma assets Innovative platform & technology developersOptional: New modalities Business Capacity Technology 1. Acquisitions. 2. Exclusive access to specific technologies. CMD 2026 | 14 October 2026 Vacaville 2 12 12 Assessment against CDMO Model andLonza Engine Check marks as relative priorities (may evolve as opportunities arise) Broad set of opportunitiesClear line of sight for value creation
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Weupgrade ourOrganicGrowth Model and resultingmid-term financialambitions Wearea StructuralGrowth Compounderthatdeliverslong-term valuethroughdisciplinedreinvestmentsof increasingcash at high returns Wearethe Innovation-to-Launch Integrator thatoffershighlydifferentiatedand uniquelycomprehensiveCDMO services Weoperatein a structurallyattractivemarketthatsupportsourlong-term opportunity Wehavedeliveredon all ourcommitmentsmadein December2024 One Lonza will deliver outstanding long-term value 33
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Agenda CMD 2026 | 14 October 2026 34 Lonza is the innovation-to-launch integrator3 3 Lonza is a structural growth compounder4 4 The Lonza Engine® delivers1 1 The highly attractive Mammalian CDMO market1 The CDMO model is structurally attractive2 2 Lonza INB – innovation-to-launch integrator2 Wolfgang Wienand – CEOPhilippe Deecke – CFOGordon Bates – Head of INB Increased focus on FCF and ROIC Q3 2026 qualitative update Structural growth compounder Clear path to sales and margin improvements
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Shareholder returns 35 The Lonza Organic Growth Model1 | Weturn disciplinedinvestmentsintoresilient and repeatableprofitable above-marketgrowthat increasingreturns 1. Lonza CDMO business, excludingCapsules& Health Ingredients. 2. WeightedAverage Costof Capital as of 2026. 3. Low teens= 10-13%. 4. Maintainingorincreasingdividendper shareeachyear, mayincludeselectivesharebuybacksfromtime to time. 5. FCF as % of EBITDA. Investment in GrowthSales Growth Margin ExpansionCash GenerationIncreasing FCF conversion5on average over time CORE EBITDA growth ahead of sales growth to reach High thirties marginin the mid-term Low teens3 organic CER sales growthon average over time Organic CapEx of mid-to-high teens % of sales at high returns to reachROIC of 2-3x WACC2in the mid-term Progressive dividends4 CMD 2026 | 14 October 2026
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Sales growth | Portfolio of high-return organic growth projects generates continuous sales growth and increases ROIC over time CMD 2026 | 14 October 2026 ROIC, illustrative In % ROIC growth project ROIC base Sales base CER Sales growth projects + base Each growth project earns above base ROIC at peak salesGrowth projects lift Group ROIC as their share growsSales and ROIC build over time,with fluctuations along the way ConstructionRamp-upPeak sales Sales, illustrativeIn CHF TimeTime ROIC base ROIC growth projects + base Time ROIC, illustrativeIn % Timing and size of growth projects ramp-up lead to fluctuation in Sales / ROIC build over time ≥30% ROIC at peak 2-3x WACC2 ambition1Low-teens1 2025Mid-term ~2xRevenue share of growth projects In % 1. Lonza CDMO business, excluding Capsules & Health Ingredients. 2. Weighted Average Cost of Capital as of 2026.36 Investment in GrowthSales Growth Margin ExpansionCash Generation Shareholder returns
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Pharma market growth6–7% Increase in outsourcing1–2% Active market selection1–2%Lonza's addressable CDMOmarket growth8–10% Lonza Engine® 2–3% 10–13% 37CMD 2026 | 14 October 2026 +2-3% +8-10% Growth from Maintenance CapEx3 (in near term) Sales growth | Investments into new projects and base assets improvements to capture attractive market opportunities +++=+ Organic Growth Model Sales Low-teens(10-13% on average over time)1 Growth from Growth Projects CapEx3(in mid-to-long term) 1. For Lonza CDMO business, excluding Capsules & Health Ingredients. 2. Includes contribution from commercial excellence and portfolio management. 3. Part of Organic Growth Model total CapEx investments: Low-teens (in % of sales) for growth projects and mid-to-high single-digit (in % of sales) for maintenance, infrastructure and systems Investment in GrowthSales Growth Margin ExpansionCash Generation Shareholder returns The Lonza Engine enables Lonza to outgrow the attractive underlying market… … with two key sources of growth(average contribution to Lonza’s YoY growth2)
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381. Organic CER sales growth on average over time for Lonza CDMO business, excluding Capsules & Health Ingredients. 2. Includes for example Commercial Drug Product, HPAPI, Microbial, Vertex Type-1 Diabetes projects. 3. Drug Product. 4. INB = Integrated Biologics, ADS = Advanced Synthesis, SPM = Specialized Modalities.CMD 2026 | 14 October 2026 All growth projects to drive growth until 2030 are in ramp-up or finalizing constructionDe-risked base assets with tangible contribution to sales growthCurrently starting new assets for continued Low-teens1 CER sales growth post 2030 2024 2030 2030+ Vacaville Visp 20kPortsmouth 2k/6kBioconjugationOther growth projects2 Base business growth INB4 ADS4 SPM4 Incl. recent announcements: -Spray drying, Bend (US)-HPAPI, Visp (CH)-ADC DP3, Stein (CH)+ More projects to be announced Low-teens Growth1 Sales growth | Rich portfolio of existing CapEx projects brings high visibility for 10-13%1 CER sales growth on average over time Low-teensGrowth1 Mid-term sales development (in CHF)Not drawn to scale Investment in GrowthSales Growth Margin ExpansionCash Generation Shareholder returns
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391. For Lonza CDMO business, excluding Capsules & Health Ingredients. 2. Sales, administrative and R&D expenses.CMD 2026 | 14 October 2026 Operating leverageFY 2024 Mid-termCommercial /operationalexcellenceHigh margingrowthprojects 2026 Outlook30.2% Mid-termambition:High 30s Maturing growth projects drive margins (e.g., improved utilization, higher fixed cost absorption) -Visp 20k (peak ~2030)-Portsmouth 2k/6k (peak ~2030)-Vacaville (peak early 2030s)-Commercial Bioconjugation (peak early 2030s) 20242025Mid-term Lonza SAR2 evolutionIn % of sales 15.2%14.3%13.5-14% 2026Disciplined cost management, use of technology (incl. AI) and offshoring SAR expenses to grow significantly less than sales 34%33% Example:Transferring selective administrative positionsto new Lonza Capability Center in India opened in 2025 Margin expansion | Clear actions to drive CORE EBITDA margin to high 30s in the mid-termInvestment in GrowthSales Growth Margin ExpansionCash Generation Shareholder returns + CORE EBITDA margin development1 Not drawn to scale
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401. Lonza base business currently close to target utilization: target utilization for clinical assets < mixed assets < commercial assets; target utilization for commercial assets = full utilizationCMD 2026 | 14 October 2026 Example Small Molecules: >10ppts CORE EBITDA margin improvement over past 10 years Operational improvements-Downtime optimization-Debottlenecking measures-Cycle time improvements Cost efficiency -Manufacturing process optimization-Overhead optimization-Lowest-cost qualified suppliers-Increase use of AI/technology Gross profit margin Volume outputTargetutilizationtoday1 Target utilizationmid-term1 Today Mid-term Asset capacity optimizationIllustrative, not drawn to scale Portfolio mix optimizationIllustrative, not drawn to scale Sales Gross profitmargin Capacity New product at higher profitability + Product mix optimization-Active portfolio management-Value-based pricing-Molecule-site management Re-pricing/process optimizationOption 1: Discontinuemanufacturingover timeOption 2:Transferto lower costsite within Lonza Margin expansion | Focus on operational efficiency and portfolio optimization to increase gross profit marginInvestment in GrowthSales Growth Margin ExpansionCash Generation Shareholder returns
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411. Free Cash Flow; for new definition see appendix. 2. Excluding Capsules & Health Ingredients business.CMD 2026 | 14 October 2026 Example Nexus (new S/4HANA platform):-Material number standardization, visibility across sites to reduce inventory-Enhanced AR/AP monitoring to enhance payment compliance and timing FCF1 conversion evolution2In % of EBITDA 202520262024 Improving EBITDA margin Higher CapExefficiency Lower Trade Working Capital growth-Upgraded processes & systems-Enhanced demand planning-Reduced release time -Standardized raw materials-Focus on cash conversion 2030 10%11% CapEx developmentIn % of sales, illustrative 20222026Mid-term Mid- to-high-teensHigh-teensMid-teens OrganicGrowth Model Cash generation | Organization mobilized to significantly increase cash conversionInvestment in GrowthSales Growth Margin ExpansionCash Generation Shareholder returns
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6 projects 10 projects 3 projects 6 projects3 421. Project start. 2. CapEx-weighted average, partially based on Lonza expectations. 3. Including Vacaville. 4. Illustrative, not drawn to scale, for Lonza CDMO business, excluding Capsules & Health Ingredients business.CMD 2026 | 14 October 2026 2018 – 201First phase of growth investments Large growth project sales4 202120222023202420252026202720282029 Large growth project CapEx4 201820192020202120222023202420252026202720282029 Vacaville 203020312032 20302031 In operationUnder constructionIn ramp-up 361 33 In planning 2018–2012021–2312024–2512026+1 42 2026+1Further commercial assets in geopolitical context 2024 – 251Focus on commercial assets 2021 – 231Broadening offering across technologies + Lonza ROIC ROIC ≥30%2 Moreprojects to beannounced Investment in growth | Continuous investments to turn market opportunities into sustainable sales growth at attractive returnsInvestment in GrowthSales Growth Margin ExpansionCash Generation Shareholder returns
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431. Lonza CDMO business, excluding Capsules & Health Ingredients. 2. Weighted Average Cost of Capital as of 2026. 3. Trade Working Capital. 4. Capital being invested today to generate future sales and earnings. 5. Figures based on FY 2025 financials; Vacaville based on expected peak financials. 6. Mammalian.CMD 2026 | 14 October 2026 Lonza ROIC development1Not drawn to scale ReportedROIC Mid-termReportedROIC2025 Infra-structureGood-will 12% CapitalStock4Higher CapExefficiencyHigherprofitmarginLowerTWC3intensity UnderlyingROICMid-term Mid-term2-3x WACC2 SingaporeMM6 20k(2008)PortsmouthMM6 6k(2017)Visp 1k/2kMM6(2018)VispBioconjugation(2021)VispHPAPI(2018)VacavilleMM6(2024) Advanced Synthesis(Start of construction)Integrated Biologics(Start of construction)Integrated Biologics(Acquisition year) Actual 2025 ROIC of key growth projects5Not drawn to scale 30% ROIC Investment in growth | Delivering strong returns relative tocost of capital 12% Investment in GrowthSales Growth Margin ExpansionCash Generation Shareholder returns
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Lonza intends to invest > CHF 7bn4 until 2030 – and is ready for bolt-on acquisitionswhile maintaining a BBB+ credit rating Capital Allocation Framework | Disciplined approach to organic and inorganic investmentsCapital Allocation FrameworkCash from operating activities pre-CapExMaintenance | infrastructure | systems CapEx-Progressive1 dividends-CHI exit proceeds of CHF 1.7bn+Discretionary cash= Growth CapEx | AcquisitionsSurplus capital to be returned to shareholders2: CHF 500m announced Net debt evolution3As multiple of CORE EBITDA 2030202620242028 Opportunity for shareholder returns and value accretive acquisitions 1. Maintaining or increasing dividend per share each year. 2. Share buy-back to be initiated with closing of CHI divestment in Q4 2026. 3. 2026 and beyond including CHI upfront proceeds and subsequent share buyback of CHF 500 million, assumed to be completed by the end of 2026. 4. In line with Lonza’s CDMO Organic Growth Model, excluding M&A. More than 10 years of progressive dividend history Investment in GrowthSales Growth Margin ExpansionCash Generation Shareholder returns 44
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Organic Growth Model1 | Attractive structural growth compounder 451. Lonza CDMO business, excl. Capsules & Health Ingredients . 2. Constant Exchange Rates. 3. 10-13%. Sales Growth& Investments Mid-to-high teens CapEx as % of sales:-Low teens % in organic growth-Mid-to-high single-digit % in maintenance, infrastructure, systems InvestmentsLonza Engine® The Lonza Engine® enables growth 2-3% ahead of theaddressable market EBITDA Growth & Margin Expansion Organic CER2 sales growth of low-teens3 on average over timeCORE EBITDA growth > sales growth CORE EBITDA margin to reach high 30s % in the mid-term CMD 2026 | 14 October 2026
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46 Q3 qualitative business update | Continued good performance in line with expectations supports 2026 Outlook, upgraded in H1 2026-Continued healthy underlying momentum across the platform in Mammalian and DP1-Vacaville upgrades progressing according to plan with strong customer demand-Large-scale mammalian facility in Visp continues its commercial ramp-upIntegrated Biologics -Small Molecules and Bioconjugates markets remain attractive-Sustained performance of recently ramped-up growth projects-H2 2026 sales as expected approximately flat YoY, reflecting very strong performance in both H2 2025 and a favorably phased H1 2026. Absolute sales above H1 2026 levelsAdvanced Synthesis -Cell & Gene benefiting from H1 catch-up and improved operational performance-Robust growth in Microbial and demand normalization in Bioscience-Positive momentum across both development and commercial activitiesSpecialized Modalities -Outlook upgraded with H1 2026 reiterated-11-12% CER sales growth-33-34% CORE EBITDA margin-Expected 2026 FX3 sales growth impact of -2 to -3%Outlook 20262 1. Drug Product. 2. Lonza CDMO business, excluding Capsules & Health Ingredients. 3. Foreign exchange.CMD 2026 | 14 October 2026
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Business Use Only Questions? CMD 2026 | 14 October 2026
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Agenda CMD 2026 | 14 October 2026 48 Lonza is the innovation-to-launch integrator3 3 Lonza is a structural growth compounder4 4 The Lonza Engine® delivers1 1 The highly attractive Mammalian CDMO market1 The CDMO model is structurally attractive2 2 Lonza INB – innovation-to-launch integrator2 Wolfgang Wienand – CEOPhilippe Deecke – CFOGordon Bates – Head of INB Increased focus on FCF and ROIC Q3 2026 qualitative update Structural growth compounder Clear path to sales and margin improvements
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Business Use Only The highly attractive Mammalian CDMO market 1 CMD 2026 | 14 October 2026
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Mammalian Pharma sales expected to grow ~8% p.a. until 2030, supported by a growing pipeline that reaches the market faster ~390~530 2026E2030E +8% p.a. Mammalian Pharma sales1In USD bn 1. Evaluate Pharma (2026). 2. Citeline & Lonza Internal Analysis (2026). 3. Breakthrough, fast track, accelerated approval, PRIME designations.50CMD 2026 | 14 October 2026 Increasing expedited approvals3In % of total Mammalian approvals 70% 30%2015 30% 70% 2025 Standard approvalsExpedited approvals Market growth is backed by an expanding and faster-converting pipeline Mammalian pipeline2In # of molecules 2026E2030E ~4,400~5,600+25%Pre-clinicalPhase IPhase IIPhase III Mammalian market with robust mid-term growth Expanding pre-clinical and clinical pipeline drives growth well beyond 2030Significantly higher share of accelerated drug development times
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70% 30%2011-2015 55% 45% 2016-2020 45% 55% 2021-2025 Increasing molecule complexity and Biotech market share both drive increasing reliance on external manufacturing expertise 1. Citeline & Lonza internal analysis (2026). 2. Complex modalities incl. ADCs, Bispecifics, Multispecifics, Ab Fragments, Fusion Proteins. 3. Large Pharma >2,500, Biotechs <2,500 employees. 40% 60% 2015 25% 75% 2025 20% 80% 2030E CMD 2026 | 14 October 2026 Large PharmaBiotech Mammalian pipeline1In # of moleculesClinical pipeline by customer size3In % of total # of moleculesApprovals by company size3In % of total NME & BLA approvals Large PharmaBiotech 45% 55% Marketed 55% 45% Clinical 65% 35% Pre-clinical Complex modalities2mAbs 51 Pipeline increasingly shifting to complex modalitiesBiotechs hold a growing share of pipeline, reaching ~80% by 2030Biotechs increasingly launch products themselves
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52 Market growth translates into manufacturing volume growth with more blockbusters and a larger Phase III pipeline compounding to demand 1. Citeline & Lonza internal analysis (2026). 2. Customer size: Large Pharma >2,500, Biotechs <2,500 employees. 3. Total Biologics demand, IQVIA. CMD 2026 | 14 October 2026 ~30% 2026E ~30-40% 2030E ~80~110+30Manufactured by Lonza ~60% 2026E ~70% 2030E ~340 ~470+40%Large PharmaBiotech 2026E2030E +40% InnovatorBiosimilars Market growth drivers translate into volume growth and manufacturing capacity needs Mammalian blockbuster drugs1In # of moleculesMammalian Phase III pipeline1,2In # of moleculesGlobal Mammalian commercial drug substance demand3 in kg +30 new blockbusters add high-volume demand +40% Ph III growth expected to increase commercial demandMarket growth drivers translate into +40% manufacturing volume
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Volume demand spans all ranges, with ~80% of volume requiring large-scale manufacturing capacity 44% 34% 22%# of Mammalian products '25in % of products Source: Market Intelligence; IQVIA Midas data: Mammalian NME, including Biosimilars; volumes taken from 2025. Drugs with <10kg per year output were not considered. Volume demand segment in kg/year A smaller share of large volume products drive most of the required volume A full complement of manufacturing scale and capacity is needed to match the range of patient volumes and expected titer increase Volume demand varies significantly, ranging from 10kg to well over 1,000kg 53CMD 2026 | 14 October 2026 Large volume>250kgMid volume50 - <250kgSmall volume10 - <50kg 3% 16% 81%Kg manufacturing volume '25in % of total Manufacturing scale mixtypical reactor sizes Large-scale >12kL(Stainless steel) Mid-scale >2–12kL(Single-use and stainless steel)Small-scale 1-2kL(Single-use)
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Headline titer improvements take years to move the industry average, with a limited impact on manufacturing scale mix in the near-to-mid term 2.53.1 201520252030E ~3.4-3.7+15% Global Mammalian commercial drug substance demand2In kgHistoric and future titer improvements1 In g/L 54CMD 2026 | 14 October 20261. mAb titers based on BioPlan 2025 survey (2015-2025). 2. Total biologics demand, IQVIA. 81% 16% 20252030E Mid-scale gains in relative importance Large-scale with most volume Newly launched products typically benefit from increases in cell line productivity developed 5-10 years agoThe rate at which newly launched products increase industry avg. titers will take years and may even be slowed by increasingly complex moleculesAs titers increase, mid-scale gains in relative importance to cover the range of volumes neededHowever, in absolute terms, large-scale capacity will remain dominant Commercial titers expected to improve by ~15% until 2030 Manufacturer needs to offer all scales; large-scale dominant Large-scaleMid-scaleSmall-scale
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Lonza INB sustains its leadership position by responding to key market trends 55CMD 2026 | 14 October 2026 A highly attractive and growing Mammalian market, with high single digit growth complemented by expanding commercial volumes and growing clinical pipelines Speed as a competitive advantage, with accelerated designations and expedited approval pathways on the increase Mammalian market growth translates into increased volumes, driving the need for access to more and highly reliable manufacturing capacity Clinical pipeline molecules become more complex with innovation focused Biotechs increasingly commercializing products – needing support from experienced manufacturing partners Variable demand volumes per year, require a breadth of manufacturing asset scales to cover total demand
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Business Use Only Lonza INB – innovation-to-launch integrator 2 CMD 2026 | 14 October 2026
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INB customer segmentation1In % of total costumer 57 Lonza INB attracts a broad, Biotech-led customer base, engaging customers at any stage of the lifecycle and across regions 1. Large Pharma >2,500 employees, Biotechs <2,500 employees. 2. Revenues H1 2026. 75% 25% BiotechsLarge Pharma 30% 70% BiotechsLarge Pharma INB revenue split1,2In % of total revenueINB customer entry pointIn % of INB costumer relationships 55%45% Secured in CommercialSecured in Clinical 30% 45%25% INB customers per regionIn % of total customers (based on HQ) INB serves all customers; Biotechs make up ~75%Large Pharmaaccountsfor ~70% of revenueCustomers enter at any stageof the life cycleINB serves customers across regions, ~45% with HQ in US USEuropeRoW CMD 2026 | 14 October 2026
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58 Lonza INB's sustained success is driven by winning molecules from pre-clinical through commercial – with Ph III/ commercial accounting for ~80% of revenues ClinicalLaunch/ commercialPhase IIPre-clinical Phase IIIPhase I DNA3 design and vector engineering to derisk manufacturability New molecules Acceleration of early-phase development and support of the clinical journey ~5%of total INB revenue~15%of total INB revenue~80%of total INB revenue 1. IND = Investigational New Drug. 2. BLA = Biologics License Application. 3. In CHO cell lines.CMD 2026 | 14 October 2026 High reliability commercialization, expansion and geographic supply Molecule acquisitionMolecule acquisition BLA2IND1
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59 Lonza INB's leadership is built on three compounding capabilities 1. Mammalian host cell line, Chinese hamster ovary. Any phase. Any scale. Across technologies. Across the globe. World leading DNA design and Vector engineering for CHO1 cell biomanufacturing processes Decades of experience and data leveraged to accelerate development timelines & deliver high reliability manufacturing A globally integrated network accommodating demand across all scales, all volumes, in every major region CMD 2026 | 14 October 2026
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1. Early development services. 2. Drug Product. Infrastructure | Global network to serve the full customer breadth across scales, regions, and the whole lifecycle – the value creation engine APAC90 kL Total Mammalian Capacity Singapore, SG Small-scale Large-scale EDS1 Confirmed INB investments online between 2025–2028 484 kLTotal Mammalian Capacity US VacavillePortsmouth Cambridge Small-scale Mid-scale Large-scale EDS1 CMD 2026 | 14 October 2026 Europe Visp, CHPorriño, ESCambridge, UK Slough, UK EDS1Small-scale Mid-scale Large-scale 3 linesTotal DP2 capacity Stein/Visp, CH ClinicalCommercial Continued investment in INB's manufacturing capacity and scale mix reflects future demand APAC 219 kLTotal Mammalian Capacity 60
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61 Infrastructure | Customers can flexibly and continuously scale through INB's network; no competitor with same breadth in scale and resilience US EuropeAPAC Player 1 Player 2 Player 3 EDS Large-scaleMid-scale Small-scale APAC AvailableMediumStrongRelative strength & capacity:No Lonza is the only Mammalian CDMO with every scale in every major region, and industry-leading capacity in the US……enabling real customer benefits Accelerated scale-up within one network, driven by rigorous tech transfer standards and Lonza O/S Regional supply mitigates risk with sites across three continents under one quality system Access to local US supply at every scale, in a market where demand is ~1.2x local supply CMD 2026 | 14 October 2026
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USAEuropeRoW 62 Operating system | Standardization of processes and quality systems lead to highly effective tech transfers and increased success 100+tech transfers per year>98%first run success rate1 100%technical success rate on BLA submissions2 CMD 2026 | 14 October 20261. First run batch released according to specifications; across DS & DP for 2025 and 2026 YTD. 2. No complete response letter for a BLA due to a GMP gap. Breakthrough innovations Viable therapies for patients The Lonza INB O/SMolecules managed seamlessly across every stage of the product lifecycle Program managementCustomer interface QualityFeedback loops PlanDesignDevelopControlValidateImprove Critical Molecule Attributes Knowledge Engine Lonza INB O/S applies the principles of System Thinking, High Reliability Organization and Lean ManufacturingHighly effective processes management delivers best-in-class outcomes
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Operating system | Operational Excellence, Cost Efficiency and Commercial Excellence will further enhance margins Operational Excellence-Increased batch output from shorter cycles times and faster changeovers-R&D new technology deployment to smash bottlenecks Cost Efficiency -Labor productivity raised through automation and AI-Non-Value Added Activity and Waste elimination Commercial Excellence-Supply and demand modelling-Intentional Portfolio Management-Value pricing ~15% labor productivity 63CMD 2026 | 14 October 2026 Three levers to improve margins from existing network in the mid-term ~2.5x number of products ~20% batch throughput INB Margin Enhancement
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1084 LonzaPlayer 1Player 2Player 3 11 12128 LonzaPlayer 1Player 2Player 3 7+ Science, Technology & Intelligence | Lonza INB wins on every metric customers require, demonstrated by track record of GS® expression system 1. Timelines represent DNA-to-IND, using clonal material. 2. Timelines reported from vector construction (VC) may be approximately 2-4 weeks longer than an equivalent DNA-to-IND timeline. 3. Timelines reported to GMP DS are not directly comparable and would typically require additional activities prior to IND submission, extending the overall timeline by around 2 months. 4. Complex incl. Bispecific and Multispecific. CMD 2026 | 14 October 2026 CHO-based commercial molecules vs. molecules based on Lonza's GS®In # of molecules mAbsTiter performance in g/L 43567891021 Player1Player3Player2 111213 43567891021 Player1Player2Player32 111213 Player43 Complex4Titer performance in g/L 465 total CHO-based commercial molecules 110 (24%) molecules using GS® system Unmatched market share of GS® expression technologyIndustry-leading speed to INDBest-in-class titer performance 64 mAbsSpeed to IND1 in months Complex4Speed to IND1 in months
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<4 weeks Science, Technology & Intelligence | Decades of proprietary data make AI-value unlock for customers real, e.g., ~90% faster screening time Predicted choice validated EXPLOREBroad experimentalScreeningPast LEARNData-guidedselectionPresent PREDICTTargetedconfirmation2027 Many options testedAccumulated data narrows the search 12 weeks~1 week 000’s of large moleculedata points in Lonza’s knowledge engine, with new data continuously generated This data fuels the AI algorithms that continuously improve predictability The Knowledge Engine structures data from every molecule (incl. failures) Predictive models replace broad experimental screening and accelerates process development Lower development costs, with fewer wet-lab experiments needed Reduced customer program risk through greater predictability90% faster screening time CMD 2026 | 14 October 2026 INB's Knowledge Engine turns data into an advantageAI use case: Resin selection for Bispecific AntibodiesAI enables, predicts & confirms process development AI 65
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The power of INB | Two examples illustrate the model, with customer relationships seamlessly scaling from cell line / Ph I to global commercial launch CMD 2026 | 14 October 2026 Customer 1: Biotech Cell Line andProcess Development Slough Singapore 2kLManufacturing in single-use, incl. commercial launch Singapore 2kL Portsmouth/Visp 20 kLManufacturing in single-use, for launch quantitiesManufacturing instainless-steel Customer 2:US Large PharmaPortsmouth/VispSlough Manufacturing in1kL single-useManufacturing in2kL single-use Basel Fill & finish 1kL 2kL PortsmouthVacaville Manufacturing instainless-steelManufacturing instainless-steel 12 kL 6kL 1. IND = Investigational New Drug. 2. BLA = Biologics License Application. Top 5 customerFirst business: 2011Launched: 2022Mammalian Top 5 customerFirst business: 2010Launched: 2025Mammalian + DP ClinicalLaunch/ commercialPhase IIPre-clinical Phase IIIPhase I BLA2IND1 66
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Vaccines ~50Small Molecules ~50Others ~610 Biologics~400 GLP-1~75 Drug Product | Adjacent addressable market with attractive high-value segments, where Lonza's smaller starting point today leaves ample room to grow sFF end market value1 In USD bn, 2025 CMD 2026 | 14 October 20261. Evaluate Pharma (2026). Note: DP = Drug Product, SM = Small Molecules. Lonza DP ambition FutureAmbition2030Expected2025Actuals Attractive market with high-value pockets, e.g., biologics at USD 400bn end-market value (~65%) and complex high-value SMs Stable growth of ~5-7% CAGR (with high growth segments like ADCs 19% and mAbs 10%) High entry barriers with limited number of players able to cater high-value segments Significant growth opportunity for Lonza – ongoing capacity expansion to increase from 3 to 8 lines Illustrative Sterile fill & finish (sFF) is an adjacent market opportunity with high relative growth potentialSterile fill & finish is standalone a very attractive value pool for Lonza 67
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Drug Product | Integration across Drug Substance and Drug Product is a key differentiator that customers actively demand Offering mix in 2026In % of total new molecules signed Integrated supply accelerates timelines, eliminating challenges of multiple supply points Biotechs drive the shift to integration, preferring one single CDMO partnership Rising molecular complexity drives co-development of DS and DP Integrated DS and DP offer in cell line development in % of customer requests CMD 2026 | 14 October 2026 70% 25% Integratedoffering DrugSubstance5%Drug Product 100% Note: DP = Drug Product, DS = Drug Substance. Demand for integrated DS + DP offer in early-phase work is 100%Integrated offering accounts for 70% of all newly acquired molecules 68
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Summary | Lonza INB combines Science and O/S with the global Infrastructure to turn innovation into commercial launches 1. Lonza late-phase clinical portfolio across Drug Substance & Drug Product, clinical attrition not excluded. CMD 2026 | 14 October 2026 20262028E +50-70% Commercialization of INB’s late-phase portfolio will increase commercial products1 by 50-70% Any phase. Any scale. Across technologies. Across the globe. Scientific expertise and the Lonza O/S is repeatedly proven to enable accelerated clinical development & successful approvals INB’s global network supports every scale across regions, with integrated capacity and volumes aligned with market trends INB’s focused priorities support enhanced clinical & commercial portfolio strength with sustained sales and margin growth 69
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Business Use Only Questions? CMD 2026 | 14 October 2026
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Business Use Only Appendix
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Revised definition IFRS net cash from operating activities−CapEx property, plant & equip.−CapEx intangible assets+Asset disposal proceeds−Lease payments+Contract liabilitiesFree Cash Flow before acquisitions / divestitures Old-to-new FCF bridge for FY 2025 (CHF m) 545 Previous FCF (114) Taxes paid (162) Interest paid (48) Other1 221 Revised FCF Takeaway•Closer alignment with market practice, with cash from operating activities as starting point•Contract liabilities (“Other non-current liabilities”) remain included, as an integral part of Lonza’s business model Previous definition EBITDA−Trade working capital−CapEx property, plant & equip.−CapEx intangible assets+Asset disposal proceeds +/−Other adjustmentsOperational FCF before acquisitions / divestitures Transition to an operating cash flow-based FCF definition 1. Includes derivatives, collateral cash and other financial fees, pension payments, and certain other items +Contract liabilities 72