Interim report
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INTERIM STATEMENT 9M 2026 For further information, please contact: Dr. Sarah Fakih, EVP Head of Global Communications and Investor Relations, sarah.fakih@evotec.com, M. +49.(0)151 70 688 784, www.evotec.com
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HIGHLIGHTS } D&PD LEADING COMMERCIAL INDICATORS SHOW CONTINUED IMPROVEMENT } JUST – EVOTEC BIOLOGICS (“JEB”) Q3 PERFORMANCE AFFECTED BY PARTIAL MILESTONE ACHIEVEMENT; FULL-YEAR OUTLOOK IMPACTED BY MILESTONE TIMING, PROJECT SHIFTS AND DEFERRALS } HORIZON TRANSFORMATION WELL ON TRACK } EVOTEC EXPANDS ITS STRATEGIC RESEARCH COLLABORATION NETWORK IN IMMUNOLOGY AND ONCOLOGY; JEB ADVANCES ORTHOPOXVIRUS ANTIBODIES INTO PHASE 1 CLINICAL STUDIES } NINE-MONTH 2026 RESULTS ABOVE MARKET EXPECTATIONS; FULL-YEAR 2026 GUIDANCE REAFFIRMED EVOTEC REMAINS ON TRACK TO DELIVER FULL-YEAR 2026 GUIDANCE } Group revenue decreased by 13.1% to € 465.0 m (9M 2025: € 535.1 m) while remaining well above expectations implied by Q3 consensus estimates and consistent with FY 2026 guidance range } Total D&PD revenue decreased by 11.2% to € 348.2 m (9M 2025: € 392.1 m), mainly attributable to lower sales conversion across all business areas, reflecting ongoing timing-related impacts from commercial initiatives } JEB revenue decreased by 18.3% to € 117.1 m (9M 2025: € 143.4 m), primarily driven by the USD 25 m Sandoz license sale recognized in Q1 2025, the timing of program-related activities and customer project progression } Horizon is progressing slightly ahead of schedule, supporting the delivery of the previously communicated plan to realize 20–30% of the € 75 m run-rate savings from 2027 into 2026. } Adjusted Group EBITDA totalled € (44.3) m (9M 2025: € (16.9) m) primarily impacted by lower revenue, partly offset by lower R&D expenditure and other operating cost effects, and remained significantly above expectations implied by Q3 consensus estimates and fully in line with the FY 2026 guidance range. INTERIM STATEMENT 9M 2026 11
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EVOTEC ADVANCES ITS STRATEGIC PRIORITIES THROUGH NEW AI-ENABLED AND ONCOLOGY COLLABORATIONS } August 6: Evotec and Odyssey Therapeutics enter an R&D collaboration in complex autoimmune and inflammatory diseases enabled by Evotec’s deep disease biology expertise and proprietary AI-enabled technologies } September 2: Evotec and Plectonic enter a research collaboration to explore new generation of T-cell- engaging approaches for solid tumors } September 9: Just – Evotec Biologics advances U.S. Department of War antibodies against orthopoxvirus into Phase 1 clinical studies CORPORATE } July 13: Evotec announces preliminary second quarter and first half 2026 results and updates full-year 2026 outlook } September 29: Evotec reports that Chief Scientific Officer (CSO) Dr. Cord Dohrmann will step down effective September 30, 2026 DEVELOPMENTS AFTER PERIOD-END } October 13: Evotec announces preliminary nine-month 2026 results above market expectations, reaffirms full-year 2026 guidance } October 15: Evotec appoints Dr. Joanna Holbrook as Chief Scientific Officer and member of the Management Board effective November 1, 2026 GUIDANCE FOR FULL-YEAR 2026 REAFFIRMED } Group revenues expected in the range of € 570 – 610 m (€ 595 – 635 m CER; 2025: € 788.4 m) } Adjusted Group EBITDA is expected to reach € (70) – (105) m (€ (60) – (90) m CER; 2025: € 41.1 m) INTERIM STATEMENT 9M 2026 22
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FINANCIAL HIGHLIGHTS Consolidated income statement & segment information Evotec Group 9M 2026 9M 2025 in k€ D&PD JEB Intersegment eliminations Evotec Group D&PD JEB Intersegment eliminations Evotec Group Revenue1 347,955 117,094 — 465,049 391,861 143,239 — 535,100 Intersegment revenue 287 — (287) — 195 126 (321) — Cost of revenue2 (320,426) (128,262) 287 (448,402) (338,876) (139,432) 321 (477,987) Gross profit (loss) 27,815 (11,168) — 16,647 53,180 3,933 — 57,114 Gross margin in % 8.0 (9.5) — 3.6 13.6 2.7 — 10.7 Research and development costs2 (29,682) — — (29,682) (42,185) (71) — (42,256) Selling, general and administrative expenses2 (97,155) (24,707) — (121,862) (115,815) (22,585) — (138,400) Other operating income 29,553 1,603 — 31,156 38,516 2,856 — 41,371 Other operating expenses (53,987) (5,132) — (59,119) (7,224) (3,631) — (10,855) Reorganization costs (91,922) — — (91,922) 741 — — 741 Operating income (loss) (215,377) (39,405) — (254,781) (72,786) (19,499) — (92,284) Adjusted EBITDA (25,470) (18,846) — (44,316) (18,826) 1,940 — (16,886) 1 Group revenue for the nine months ended September 30, 2026 would have amounted to € 477,400 k at constant exchange rates. 2 Certain prior-period amounts have been adjusted to reflect the current period presentation, following the completion of a Group reorganization that revised the functional allocation of cost centers primarily related to the In Silico & Bioinformatics and Alliance Management departments. To ensure comparability, the corresponding prior-year figures were adjusted accordingly. For the nine months ended September 30, 2025, costs of € 21,355 k previously presented as Cost of revenue have been reclassified to Research and development costs and Selling, general and administrative expenses in the amount of € 14,574 k and € 6,781 k, respectively. These reclassifications solely impact the D&PD segment. INTERIM STATEMENT 9M 2026 33
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REPORT ON THE FINANCIAL SITUATION AND RESULTS 1. Results of operations During the nine months ended September 30, 2026, Group revenue decreased by 13.1% to € 465.0 m compared with € 535.1 m in the corresponding period of the prior year. At constant exchange rates, Group revenue declined by 10.8% to € 477.4 m compared with € 535.1 m in the prior-year period. Base revenue 1 decreased by 12.4% from € 503.7 m in 9M 2025 to € 441.1 m in 9M 2026. Revenue in the Discovery & Preclinical Development (D&PD) segment (including intersegment revenue) declined by 11.2% to € 348.2 m for the nine months ended September 30, 2026, compared with € 392.1 m in the prior-year period. The decrease was primarily driven by lower sales-to-revenue conversion across all D&PD business areas , reflecting ongoing timing effects in commercial activities despite early signs of improvement in the market . Revenue from Just – Evotec Biologics (JEB) decreased b y 18.3% to € 117.1 m for the nine months ended September 30, 2026, down from € 143.4 m i n the prior-year period. The decline was primarily driven by the USD 25 m Sandoz license sale recognized in Q1 2025 and delayed program activities. Cost of revenue for the nine months ended September 30, 2026 amounted to € 448.4 m compared with € 478.0 m in the corresponding period of 2025, resulting in a gross margin of 3.6% (9M 2025: 10.7%). Within D&PD, cost of revenue totalled € 320.4 m for the nine months ended September 30, 2026, compared with € 338.9 m in the prior-year period. Gross margin decreased to 8.0% from 13.6% in 9M 2025, primarily driven by lower top-line performance and continued underutilization, which is being addressed through Project Horizon. Within JEB, cost of revenue decreased to € 128.3 m in the first nine months of 2026, compared with € 139.4 m in the corresponding period of 2025. Gross margin declined to (9.5)% compared with 2.7% in the first nine months of 2025, reflecting delayed program activities, temporarily higher material and project costs due to production phasing , as well as the Sandoz license income in Q1 2025. R&D expenses decreased by 29.8% to € 29.7 m, compared with € 42.3 m in the nine months ended September 30, 2025, driven by more focused capital allocation to selected R&D projects. Research and development expenses were incurred predominantly within the D&PD segment. SG&A expenses for the nine months ended September 30, 2026 amounted to € 121.9 m and were thus € 16.5 m or 11.9% lower compared to last year (9M 2025: € 138.4 m). This change was primarily attributable to lower SG&A expenses within the D&PD segment, which declined to € 97.2 m from € 115.8 m in the first nine months of 2025 , mainly due to lower personnel costs following the implementation of the Horizon program and reduced consultancy expenses. For the nine months ended September 30, 2026, other operating income amounted to € 31.2 m, compared with € 41.4 m in the prior year period. The decrease was primarily attributable to the D&PD segment and mainly driven by lower R&D tax credits from slower activity and the non-recurrence of a € 7.5 m one-off insurance reimbursement related to the cyber-attack that was received in 2025, partially offset by other operating income from transition service agreements. Other operating expenses increased from € 10.9 m in the first nine months of 2025 to € 59.1 m in the first nine months of 2026. The increase was primarily attributable to an impairment loss of € 42.3 m in the D&PD segment relating to a laboratory building in Hamburg, recognized during 2026 , as well as € 3.2 m of expenses related to transition service agreements. For the nine months ended September 30, 2026 Reorganization costs amounted to € 91.9 m (9M 2025: income of € 0.7 m), reflecting expenses for provisions and asset impairments related to the previously announced Project Horizon. INTERIM STATEMENT 9M 2026 44 1 Base revenue does not include revenue from licenses, milestone fees and royalties.
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Adjusted Group EBITDA for the nine months ended September 30, 2026 represented a loss of € 44.3 m (9M 2025: los s of € 16.9 m) driven by the decrease in top-line performance and partially offset by lower personnel costs following the implementation of the Horizon program. The adjusted EBITDA of the D&PD segment was a loss of € 25.5 m (9M 2025: loss of € 18.8 m), due to reduced revenue, which could only partially be offset by a lower cost base within Cost of revenue, R&D and SG&A. The adjusted EBITDA within JEB has declined to a loss of € 18.8 m (9M 2025: income of € 1.9 m), driven by the revenue shortfall, which was not offset by cost efficiencies. The net loss for the nine months ended September 30, 2026 amounted to € 195.3 m (9M 2025: € 118.1 m), the variance predominantly driven by higher reorganization expense, asset impairment, and lower revenue, partially offset by the gain from the sale of Tubulis GmbH as well as an overall lower cost base. 2. Cash flows and financial position Net cash provided by (used in) operating activities in the nine months ended September 30, 2026 amounted to € (155.0) m ( 9M 2025: € (72.8) m), primarily reflecting the Group’s operating performance and related working capital movements. Net cash provided by (used in) investing activities for the nine months ended September 30, 2026 amounted to € 14.8 m ( 9M 2025 : € (50.8) m). Proceeds of € 87.8 m (net of hedging) from the disposal of Tubulis GmbH were partially offset by net cash outflows of € (44.0) m ( 9M 2025: € 26.5 m) related to current investments, mainly reflecting net purchases of short-term deposits. Capital expenditure decreased to € (19.2) m ( 9M 2025 : € (57.8) m), primarily reflecting lower investment levels after the sale of JUST EU at the end of 2025 as well as a more controlled approach to investment decisions. Net cash provided by (used in) financing activities was € 23.0 m in the nine months ended September 30, 2026 (9M 2025: € 8.6 m), mainly driven by proceeds from convertible bonds and other loans of € 112.9 m ( 9M 2025 : € 42.6 m ), partially offset by repayments of loans and lease liabilities of € (86.9) m (9M 2025: € (29.6) m). Total Liquidity (Cash and cash equivalents and Current investments) decreased to € 400.9 m (December 31, 2025: € 476.4 m). 3. Assets, liabilities, and stockholders’ equity Assets Between December 31, 2025 and September 30, 2026, total assets decreased by € 209.0 m to € 1,505.0 m (December 31, 2025: € 1,713.9 m). Short-term investments rose by € 44.1 m to € 101.9 m (December 31, 2025: € 57.9 m). The increase was mainly due to the purchase of money market funds and short-term deposits. Trade and other receivables decreased by € 27.4 m to € 108.6 m (December 31, 2025: € 136.0 m). The decrease mainly resulted from cash receipts related to the License Agreement signed in December 2025 as part of the Sandoz transaction. Prepaid expenses and other current assets increased by € 5.3 m to € 35.8 m (December 31, 2025: € 30.5 m), primarily due to an increase in prepayments for insurances, IT and software licenses, as well as subscription fees. Non-current investments and other non-current financial assets decreased by € 11.9 m to € 36.1 m (December 31, 2025: € 48.0 m). The decrease mainly relates to the sale of Tubulis GmbH to Gilead Sciences, completed on May 21, 2026. Property, plant and equipment dropped by € 110.1 m to € 444.5 m (December 31, 2025: € 554.6 m). This decrease was mainly driven by depreciation of € 64.6 m and impairments of € 82.7 m, related to Horizon INTERIM STATEMENT 9M 2026 55
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and to a laboratory building at the Company’s Hamburg headquarters. This was partially offset by capital expenditures of € 19.6 m, additions to asset retirement obligations of € 8.8 m and a positive foreign exchange effect totaling € 7.0 m. Non-current tax assets increased by € 12.9 m to € 49.2 m (December 31, 2025: € 36.3 m). The increase was mainly attributable to R&D tax credits, particularly in Evotec France. Liabilities Between December 31, 2025 and September 30, 2026, total liabilities decreased by € 36.9 m to € 863.3 m (December 31, 2025: € 900.2 m). Current and Non-current financial liabilities increased by € 33.1 m to € 481.8 m (December 31, 2025: € 448.7 m ). The increase was primarily driven by the issuance of convertible bonds of € 104.5 m, partially offset by repayments of loans and lease liabilities amounting to € 86.9 m. Trade and other payables decreased by € 16.2 m to € 48.6 m (December 31, 2025: € 64.8 m). The decrease occurred in the normal course of business. Current and Non-current contract liabilities decreased by € 75.1 m to € 175.1 m (December 31, 2025: € 250.2 m ), reflecting the recognition of revenue in excess of upfront payments received during the period. Current and Non-current provisions increased by € 25.1 m to € 101.6 m (December 31, 2025: € 76.6 m). The increase is mainly due to Horizon, including € 34.8 m attributable to personnel measures (including severance payments) and € 10.7 m attributable to the recognition of restoration obligations related to affected lease contracts. The provision increase due to Horizon was partially offset by € 19.5 m in reductions in short- term incentive accruals. Stockholders’ equity Total stockholders’ equity decreased by € 172.0 m to € 641.7 m (December 31, 2025: € 813.7 m) predominantly as a result of the net loss of the nine months ended September 30, 2026 (€ 195.3 m). This was partially offset by a positive change in other comprehensive income of € 9.9 m driven by foreign currency translation adjustments and an increase in additional paid-in capital of € 12.2 m primarily driven by the recognition of € 8.4 m related to the issuance of convertible bonds. Evotec’s equity ratio as of September 30, 2026 decreased to 42.6% (December 31, 2025: 47.5%). 4. Project Horizon On March 10, 2026, Evotec announced ‘Horizon’, the next phase in its multi-stage transformation initiative. Horizon establishes a new operating model built across the three pillars of operations, science, and commercial execution. For the nine months ended Septem ber 30, 2026, Evotec recorded reorganization costs totaling € 91.9 m, which were fully allocated to the D&PD segment. These costs are directly attributable to measures linked to the restructuring and are not related to operating activities. These reorganization costs include € 43.3 m attributable to personnel measures (including severance payments) as well as € 43.1 m of impairment losses on property, plant and equipment at affected sites. The measurement of restructuring provisions is based on estimates and assumptions regarding the amount of severance payments, the timeline for the implementation of the measures and the progress of discussions in accordance with local labor laws and regulations. The measurement assumptions are regularly reviewed as the restructuring program progresses. INTERIM STATEMENT 9M 2026 66
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5. Human Resources Employees Headquartered in Hamburg, Germany, the Evotec Group employed an average of 4,379 people globally for the nine months ended September 30, 2026, which corresponds to a decrease of 378 (7.9%) compared to the 2025 twelve months average of 4,757. The decrease primarily reflects the divestiture of Just – Evotec Biologics EU, completed in December 2025, as well as workforce reductions associated with Project Horizon through Q3 2026. Other workforce movements partially offset the overall decrease in employee headcount. INTERIM STATEMENT 9M 2026 77
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UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS Income statement of the Evotec Group for the period from January 1 to September 30 in k€ except share and per share data 9M 2026 9M 2025 Revenue 465,049 535,100 Cost of revenue¹ (448,402) (477,987) Gross profit (loss) 16,647 57,114 Operating income (expenses) Research and development costs¹ (29,682) (42,256) Selling, general and administrative expenses¹ (121,862) (138,400) Other operating income 31,156 41,371 Other operating expenses (59,119) (10,855) Reorganization costs (91,922) 741 Total operating income (expenses) (271,429) (149,398) Operating income (loss) (254,781) (92,284) Non-operating income (expenses) Realized gain (loss) on investments and financial instruments revaluation 68,459 1,739 Share of profit (loss) and revaluation of at-equity investments (1,525) (736) Other financial income 4,683 3,264 Other financial expenses (9,462) (10,685) Other non-operating income (expenses) 303 (17,527) Net income (loss) before taxes (192,324) (116,230) Income taxes (3,005) (1,911) Net income (loss) (195,329) (118,141) Weighted average shares outstanding 177,653,851 177,598,303 Net result per share (basic) (1.10) (0.67) Net result per share (diluted) (1.10) (0.67) 1 Certain prior-period amounts have been adjusted to reflect the current period presentation, following the completion of a Group reorganization that revised the functional allocation of cost centers primarily related to the In Silico & Bioinformatics and Alliance Management departments. To ensure comparability, the corresponding prior-year figures were adjusted accordingly. For the nine months ended September 30, 2025, costs of € 21,355 k previously presented as Cost of revenue have been reclassified to Research and development costs and Selling, general and administrative expenses in the amount of € 14,574 k and € 6,781 k, respectively. INTERIM STATEMENT 9M 2026 88
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Statement of Cash Flows of the Evotec Group for the period from January 1 to September 30 in k€ 9M 2026 9M 2025 Cash flows from operating activities: Net income (loss) (195,329) (118,141) Adjustments to reconcile net income to net cash used in operating activities¹ 107,215 112,410 Change in assets and liabilities (66,902) (67,077) Net cash provided by (used in) operating activities (155,016) (72,809) Cash flows from investing activities: Interest received 5,964 3,269 Purchase of property, plant and equipment (19,162) (57,846) Proceeds from sale of property, plant and equipment 36 25 Purchase of intangible assets and additions to capitalized development expenditures (10,649) (9,256) Investments to acquire associated companies, other non-current investments and convertibles (2,390) (10,360) Proceeds from the disposal of associated companies, other non-current investments and convertibles, net of transaction costs 89,287 (3,764) Purchase of current investments (70,054) (2,988) Proceeds from sale of current investments 26,056 29,472 Dividends received — 1,053 Proceeds from (payments due to) the disposal of subsidiaries (4,282) (396) Net cash provided by (used in) investing activities 14,807 (50,791) Cash flows from financing activities: Interest paid (3,120) (4,638) Proceeds from convertible bonds and other loans² 112,931 42,596 Proceeds from exercise of share options 131 218 Repayment of loans (66,674) (13,039) Repayment of lease liabilities (20,240) (16,538) Net cash provided by (used in) financing activities 23,028 8,599 Net increase (decrease) in Cash and cash equivalents (117,181) (115,001) Effects of revaluation and of movements in exchange rates on cash held (2,323) (12,113) Cash and cash equivalents at beginning of the year 418,517 306,387 Cash and cash equivalents at end of the period³ 299,012 179,272 1 Adjustments include the following material non recurring items: Impairments in the amount of € 82,810 k partially offset by the gain from the sale of Tubulis GmbH in the amount of € (71,929) k. ² Including transaction costs, which were presented as a separate line item in the amount of € (1,365) k in the published 9M 2025 Interim Statement. ³ On September 30, 2025 € 5.2 m of Cash and cash equivalents were classified as Assets classified as held for sale and related to JUST - Evotec Biologics EU SAS. INTERIM STATEMENT 9M 2026 99
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Statement of financial position of the Evotec Group as of September 30, 2026 and as of December 31, 2025 in k€ 09/30/2026 12/31/2025 ASSETS Current assets: Cash and cash equivalents 299,012 418,517 Investments 101,925 57,873 Trade and other receivables 108,556 135,963 Contract assets 28,683 28,295 Inventories 37,710 29,317 Current tax assets 34,033 38,453 Other current financial assets including derivatives 17,541 20,217 Prepaid expenses and other current assets 35,803 30,480 Assets classified as held for sale — 3,830 Total current assets 663,263 762,945 Non-current assets: Non-current investments and other non-current financial assets 36,107 48,004 Investments in associates and joint ventures 3,107 4,629 Property, plant and equipment 444,536 554,626 Intangible assets and goodwill 307,234 303,936 Deferred tax assets 113 2,949 Non-current tax assets 49,247 36,349 Other non-current assets 1,364 507 Total non-current assets 841,707 951,000 Total assets 1,504,970 1,713,945 INTERIM STATEMENT 9M 2026 1010
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in k€ 09/30/2026 12/31/2025 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Current financial liabilities 64,607 104,720 Trade and other payables 48,578 64,763 Contract liabilities 60,369 104,849 Deferred income 3,714 3,220 Provisions 74,255 58,543 Current income tax liabilities 8,710 10,578 Other current liabilities 25,408 21,401 Total current liabilities 285,641 368,074 Non-current liabilities: Non-current financial liabilities 417,207 344,008 Deferred tax liabilities 11,992 14,735 Provisions 27,378 18,035 Contract liabilities 114,746 145,324 Deferred income 6,346 8,350 Other non-current liabilities — 1,715 Total non-current liabilities 577,668 532,167 Stockholders’ equity: Share capital 177,910 177,779 Treasury shares, at cost (531) (1,548) Additional paid-in capital 1,470,677 1,458,466 Retained earnings (971,215) (775,887) Accumulated other comprehensive income (35,179) (45,106) Total stockholders' equity 641,661 813,704 Total liabilities and stockholders’ equity 1,504,970 1,713,945 INTERIM STATEMENT 9M 2026 1111
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Adjusted EBITDA Reconciliation in k€ 9M 2026 9M 2025 Operating income (loss) (254,781) (92,284) Depreciation of tangible assets 64,614 69,860 Amortization of intangible assets 5,523 5,811 Impairment of tangible assets¹ 42,330 — External cyber-related costs, net of reimbursements — (6,203) Reorganization costs 91,922 (741) One-off arbitration costs — 3,785 (Income) / Expenses related to the disposal of Just - Evotec Biologics EU SAS 3,202 2,885 (Income) / Expenses related to the disposal of associate companies (254) — Other non-recurring costs 3,128 — Adjusted EBITDA (44,316) (16,886) ¹ Impairment of tangible assets not included in reorganization costs INTERIM STATEMENT 9M 2026 1212
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Subsequent Events On October 15, 2026, the Company announced that the Supervisory Board of Evotec SE appointed Dr. Joanna Holbrook as Chief Scientific Officer and member of the Management Board with effect from November 1, 2026. She replaces Dr. Cord Dohrmann, who stepped down from this position on September 30, 2026. Notes Each financial statement line item is rounded individually. Totals and subtotals may therefore deviate slightly from the sum of the individual items. FORWARD-LOOKING STATEMENTS This Q3 interim statement contains forward-looking statements concerning future events. Words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “should,” “target,” “would” and variations of such words and similar expressions are intended to identify forward-looking statements. Such statements include comments regarding Evotec’s expectations for revenue and Adjusted Group EBITDA. These forward-looking statements are based on the information available to, and the expectations and assumptions deemed reasonable by Evotec at the time these statements were made. No assurance can be given that such expectations will prove to be correct. These statements involve known and unknown risks and are based upon certain assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of Evotec. Evotec expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Evotec’s expectations with respect thereto or any change in events, conditions, or circumstances on which any statement is based. INTERIM STATEMENT 9M 2026 1313