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Business Use Only Lonza Signs Agreement to Acquire US CDMO Network from Merck KGaA, Darmstadt, Germany3 November 2026
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2Business Use Only2 Disclaimer 3 November 2026 Lonza 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 “Financial Impact and Value Creation" herein may not prove to be correct. The statements in the section“Financial Impact and Value Creation"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“Financial Impact and Value Creation"as a result of the factors described above or other factors. Investors should not place undue reliance on the statements in the section “Financial Impact and Value Creation". 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.
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1 3Business Use Only3 Agenda Transaction Overview and Strategic Rationale The Underlying Market Opportunities Financial Impact and Value Creation Q&A Today’s Presenters Wolfgang Wienand, PhDChief Executive Officer Philippe DeeckeChief Financial Officer 3 November 2026 2 4 3
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3 November 2026 Transaction summary | Lonza to acquire US CDMO network from Merck KGaA to strengthen US presence 4 Lonza has signed an agreement to acquire five US CDMO manufacturing sites and associated businesses from Merck KGaA1,2 The transaction is fully in line with the One Lonza Strategy – expansion of Lonza’s capabilities in the US for bioconjugation3 and in viral vectors Enterprise valuation in the low- to mid-triple-digit millions CHF – all cash In first full year 2028, around CHF 250m sales at a positive CORE EBITDA margin – peak sales at expected future Group margin by mid-2030s 1. Darmstadt, Germany. 2. Subject to customary closing conditions. 3. Drug substances, including high-potency payload-linkers.
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Business Use Only 1Transaction Overview and Strategic Rationale The Underlying Market Opportunities Financial Impact and Value Creation Q&A 2 3 4 5Business Use Only Agenda 53 November 2026
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3 November 2026 61. Based on USD/CHF exchange rate as of end of October 2026. 2. To Lonza Group margins. 3. Including high-potency payload-linkers. 4. Lipid nanoparticles (LNP), liposomes and PEGylated proteins. Key transaction terms | Lonza acquires five well-invested US CDMO manufacturing sites for high-growth pharmaceutical modalities Positive Transaction overview -Seller: Merck KGaA, Darmstadt, Germany-Enterprise valuation: Low- to mid-triple-digit millions CHF, in cash -Funding: Cash at hand and existing credit facilities, commitment to BBB+ rating-Expected closing of transaction: Mid-2027 Terms & Financing Sales FY 20281 Number of FTEs Facts & FiguresCORE EBITDA Margin FY 2028~ CHF 250m ~ 1,1005US Manufacturing Sites Sales split of acquired assets by modality [In %, based on 2026E] Bioconjugation3 Viral vectorNon-viral delivery4 60-70% 15-20% Well-invested CDMO sites with available capacity and option for further expansionsLonza’s Innovation-to-Launch Integrator model to drive utilization of acquired network, supporting significant sales growth Experienced local teams with expertise in clinical and commercial manufacturing 15-20%
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3 November 2026 7 Acquired US manufacturing network combines differentiated capabilities, highly skilled talent and platforms for future expansion -Technology: Bioconjugation-State-of-the-art facility with multiple expansions ongoing-Proven clinical and commercial manufacturing track record-Robust clinical and commercial pipeline-~ 17,000 m² | 300+ FTE St. Louis, MO -Technology: Payload-linkers1-State-of-the-art facility with multiple expansions and upgrades in recent years-Advanced containment for clinical and commercial mfg.-30+ years of high-potency expertise-~ 20,000 m² | 300+ FTE Madison & Verona, WI -Technology: Viral vectors-State-of the-art facility, operational since 2022-Established clinical and commercial capabilities-Integrated manufacturing and aseptic fill & finish-~ 19,000 m² | 150+ FTE Carlsbad, CA Advanced Synthesis Advanced Synthesis Specialized Modalities Specialized Modalities | Integrated Biologics1. High-potency. -Technology: Non-viral delivery solutions-Integrated manufacturing and aseptic fill & finish-Expertise in LNPs, liposomes and PEGylated proteins-Proven commercial manufacturing capabilities-~ 15,000 m² | 200+ FTE Indianapolis, IN
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Business Use Only8 Strategic rationale | Lonza to establish strategic bioconjugation and payload-linker US footprint and further expand viral vector capabilities in the US 3 November 2026 Complementary US network for bioconjugates and payload-linkersUnlocking growth opportunities across One Lonza Cell & Gene expansion with a dedicated viral vector site Create a US end-to-end drug substance network for ADCs and other bioconjugates Expand Lonza’s development pipeline for bioconjugates and payload-linkers Add small- and mid-scale capacities, complementing existing footprint in Visp (CH) Add aseptic fill & finish for cell & gene therapies Expand Lonza’s cell therapy offering for viral vectors Create critical scale through an established facility for commercial manufacturing Increase exposure to high-growth bioconjugation, payload-linker and viral vector CDMO opportunitiesAccelerate and de-risk US expansion plans with well-invested CDMO capacities, providing a platform for future investments Strengthen the resilience of Lonza’s global network by expanding US presence
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3 November 2026 9 Advanced Synthesis | Complementary US capabilities for Lonza’s global integrated bioconjugation and payload-linker manufacturing network Bioconjugation & Payload-Linker1 Network Newly acquired sitesExisting Lonza sites Early-stage molecule capture-Oss (NL) supports customers with differentiated linker and dual-payload technology & development offeringIntegrated clinical capabilities to drive pipeline progress-Clinical payload-linker offering across Madison & Verona (US) and Visp (CH)-Clinical bioconjugation capabilities in St. Louis (US) and Visp (CH)Global commercial manufacturing at scale-Commercial payload-linker capacity in Madison/Verona complements the established Visp offering-Nansha (CN) supports with upstream payload-linker chemistry-St. Louis adds US commercial bioconjugation capacity alongside Visp’s capabilities 1. High-potency. St. Louis (MO) Madison & Verona (WI) Nansha (CN) Oss (NL) Visp (CH)
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3 November 2026 101. Lentivirus, adeno-associated virus. Specialized Modalities | Complementary US viral vector site with diversified offering and aseptic fill & finish capabilities Lonza’s comprehensive cell therapy network-Across three continents in the US, the Netherlands and Singapore-Strong late-stage and commercial exposureComplementary US viral vector hub-Carlsbad (CA) is an established commercial viral vector facility-Diversified suspension viral vector platform (e.g. LV, AAV1 and other virus types)-Integrated aseptic cell & gene fill-finish capacitiesStrengthening Lonza’s exposure to high-growth opportunities-Viral vector for gene therapies-Viral vectors for in-vivo CAR-TNewly acquired sitesExisting Lonza sites Carlsbad (CA)Viral vector Portsmouth (NH)Cell therapy Singapore (SG)Cell therapy Geleen (NL)Cell therapy Cell & Gene Network Houston (TX)Cell therapy and viral vector
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3 November 2026 11 Closing gaps in Lonza’s Innovation-to-Launch infrastructure across the globe and across modalities | Bringing capacity close to customers where demand > supplyTargeted acquisitions expand strategic capabilities, increase customer proximity and strengthen Lonza’s presence in the undersupplied US market RoW ~10,000 FTE4 ~6,000 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 Today’s acquisition 1. 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 but including acquired US sites from Merck KGaA, Darmstadt, Germany. 5. Manufacturing sites supporting Phase II/III or commercial supply, Madison & Verona counted as one site, excl. smaller sites. Lonza as only CDMO with strong presence on three continents, now with 17 sites5 Further aligning network capacity with innovative pharma demand Increasing network resilience, further strengthening security of supply for customersTurning Lonza’s CMD commitments into action by delivering on our strategic priorities
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Business Use Only 1Transaction Overview and Strategic Rationale Financial Impact and Value Creation Q&A 3 4 12 Agenda 123 November 2026 The Underlying Market Opportunities2
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2 November 2026 13 Pharma revenue 2033by segment in USDbn Pharma revenue CAGR2026-2033 by segment Peptide TherapeuticsHPAPI(excl. ADCs) Absolute Growers Vaccine (viral) >15% 7-15% > USD 100bnUSD 25–100bn mRNA Non-HPAPIAntibody & protein therapeuticsPlasma Therapy Relative Growers Future Growers OligonucleotideRadiopharma Cell TherapyAllogeneic Cell Therapy Autologous Plasmid DNA7% < USD 25bnLonza presentLonza not presentLonza partially present Viral Vector ADCs Non-ADCBioconjugates Acquired sites Lonza continuously invests in next-wave technologies before they become relative and absolute growers 1. Lonza analysis,Evaluate Pharma. 2. Addressable Lonza scope, indicative with Drug Product not being a pharma segment itself. 7-15% Drug Product2 With the acquisition, Lonza expands its presence in three fast-growing segments
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3 November 2026 14 Around1,200 bioconjugatesin pipeline, ~70% of which use cytotoxic payloads Comprehensive bioconjugation pipeline with increasing late-stage volume demand | Underlying pharmaceutical market growths drives CDMO growth Rich phase 2 and phase 3 pipeline providing strong long-term volume demand growth potentialStrong growth in pharma sales of existing commercial bioconjugates – new approvals driving further growth 1. Lonza internal analysis, Evaluate Pharma. 2. Pre-clinical and phase 1. Global bioconjugation pipeline by technology1[# of molecules] ~1’200 ADCs and other cytotoxicsNon-cytotoxic bioconjugates ~70% ~30% Global bioconjugation pipeline1[# of molecules] Phase 2(2025)Phase 3(2025)Marketed(2025) ~130~80 >200 Marketed(2033)PC/P12(2025) ~850 ~100 20252033 30 ~110 Global bioconjugation pharma sales1[In USD bn] ~18% p.a. ADCs and other cytotoxicsNon-cytotoxic bioconjugates
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3 November 2026 15 Comprehensive development pipeline for in-vivo and ex-vivo viral vector therapies Rich development pipeline driving viral vector growth | Demand for CDMO services will benefit from expected commercial launches 1. Lonza internal analysis for in-vivo and ex-vivo viral vector, Evaluate Pharma. 2. Lonza addressable market. 3. Pre-clinical and phase 1. 4. Adeno-associated virus. 5. Used in in-vivo and ex-vivo cell & gene therapies. Global viral vector pipeline1,2[# of molecules] Phase 2(2025)Phase 3(2025)Marketed(2025) >200 ~5020~70 Marketed(2033) 20252033 ~9.5 40-50 Global viral vector pharma sales1,2,5[In USD bn] 2022 ~5.5 Around 50 phase 2 and phase 3 molecules expected to turn commercial until 2033Strong growth of viral vector pharma market, dominated by AAV4 and Lentivirus >20% p.a. PC/P13(2025) ~900 Global viral vector pipeline by technology1,2[# of molecules] ~1’200 In-vivo viral vectorEx-vivo viral vector ~50% ~50%
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Business Use Only 1Transaction Overview and Strategic Rationale The Underlying Market Opportunities Financial Impact and Value Creation Q&A 2 4 16 Agenda 163 November 2026 3
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3 November 2026 171. To Lonza Group CER sales growth on average over time. 2. To Lonza Group CORE EBITDA margin by mid-2030. Peak sales potential of acquired sites and associated businesses | Increasing capacity utilization and mix evolution will materially improve profitability over time -In first full year 2028, sales of around CHF 250 million -Over time, trajectory of significant sales growth, reaching peak sales in mid-2030s-In early years, negligible CORE EBITDA contribution and insignificant CORE EBITDA margin dilution to Group-CORE EBITDA growth ahead of sales growth, with CORE EBITDA margin becoming neutral to the expected future Group margin in mid-2030s –driven by:•Increasing capacity utilization•Favorable product mix with more commercial products•New business acquisition•Integration in Lonza’s global network-Acquisition to become accretive to group ROIC over time-No change to Lonza’s Outlook 2026-No change to the Lonza’s Organic Growth Model and associated mid-term financial ambitions 2028Mid-2030s ~250 Peak salesSlightly growthaccretive1 2028Mid-2030sPositive Lonza Group Group neutral2 Expected CORE EBITDA margin[in %, illustrative, not drawn to scale] Expected sales[in CHF million, illustrative, not drawn to scale]
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Lonza intends to invest > CHF 7bn4 until 2030 – and is ready for further bolt-on acquisitions while maintaining a BBB+ credit rating3 November 2026 18 Deploying balance sheet flexibility for growth | Lonza maintains financial flexibility for further bolt-on acquisitions and shareholder returnsCapital 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 value accretive acquisitions and / or shareholder returns 1. Maintaining or increasing dividend per share each year. 2. Share buy-back to be initiated with closing of CHI divestment by year-end 2026. 3. 2026 and beyond including CHI upfront proceeds, subsequent share buyback of CHF 500 million, assumed to be completed by the end of 2026 and the acquisition of 5 US sites from Merck KGaA, Darmstadt, Germany. 4. In line with Lonza’s Organic Growth Model, excluding M&A.
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3 November 2026 19 Acceleration of the Organic Growth Model | The currenttransactionreinforcesLonza’sbolt-on M&A approachunderthe OneLonza 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 Fragmented CDMO industryOptional:New modalities Under-utilized pharma assets Innovative platform & technology developersOptional: New modalities Business Capacity Technology 1. Darmstadt, Germany. 2. Acquisitions. 3. Exclusive access to specific technologies. Vacaville 3 23 23 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 Acquisition of 5 US CDMO sites from Merck KGaA1
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Organic Growth Model1 | Lonza is a Structural Growth Compounder, further reinforced by today’s acquisition 203 November 20261. Lonza CDMO business, excl. Capsules & Health Ingredients. 2. Constant Exchange Rates. 3. 10-13%. 4. After initial consolidation effect on sales / CORE EBITDA margin. 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 time CORE EBITDA growth > sales growth CORE EBITDA margin to reach high 30s % in the mid-term New assets supportive of Group CER sales growth4 Low CORE EBITDA margin at start, improving over time4, to reach expected future Group level by mid-2030s
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3 November 2026 Concluding remarks Lonza is the Innovation-to-Launch Integrator: At any phase. Any scale. Across technologies. Across the globe. 21 The acquisition will strengthen Lonza’s network resilience through the addition of a second ADC manufacturing hub1 and a viral vector platform in the US The acquisitionacceleratesLonza’sUS expansionwithwell-investedcapacityand providesa platformfor futuregrowthinvestments The acquired businesses are expected to deliver significant profitable growth over time – to reach expected future Group margin by mid-2030s The acquisitionofferscompellingvaluecreationpotential for customers, patientsand shareholders1. In addition to Visp (CH). 3 November 2026
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Business Use Only 1Transaction Overview and Strategic Rationale The Underlying Market Opportunities Financial Impact and Value Creation Q&A 2 4 22 Agenda 223 November 2026 3
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Business Use Only 3 November 2026 23 Victoria MorganHead of ExternalCommunications victoria.morgan@lonza.com Daniel Buchta Head of Investor Relations daniel.buchta@lonza.com Investor inquiries: Media inquiries: