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Stock Code: 2268.HK WuXi XDC 2026 Interim Results 25 August, 2026 | Hong Kong 1
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Disclaimer Forward-Looking Statements This presentation may contain certain “forward -looking statements” which are not historical facts, but instead are predictions a bout future events based on our beliefs as well as assumptions made by and information currently available to our management. Although we believe that our p redictions are reasonable, future events are inherently uncertain and our forward -looking statements may turn out to be incorrect. Our forward -looking statements are subject to risks relating to, among other things, the ability of our service offerings to compete effectively, our ability to meet timelines f or the expansion of our service offerings, and our ability to protect our clients’ intellectual property. Our forward -looking statements in this presentation speak only as of the date on which they are made, and we assume no obligation to update any forward -looking statements except as required by applicable law or listing rules. Acco rdingly, you are strongly cautioned that reliance on any forward -looking statements involves known and unknown risks and uncertainties. All forward -looking statements contained herein are qualified by reference to the cautionary statements set forth in this section. Use of Adjusted Financial Measures and CER (Non-IFRS Measures) The Group defines “adjusted net profit attributable to owners of the Company” as net profit attributable to owners of the Com pany after elimination of share- based compensation expense as non-cash expenditure, net foreign exchange loss or gain as non -operating item, non-recurring/one-off transaction costs as non-operating item, and net of interest income and finance costs as non -operating item. We believe that the adjusted financial measures used in this presentation are useful for understanding and assessing underlying business performance and operating trends, and we believe that management and investors may benefit from referring to these adjusted financial measures in assessing our financial performance by eliminati ng the impact of certain unusual and non-recurring items that we do not consider indicative of the performance of our business. However, the presentation of thes e non-IFRS financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in acco rdance with IFRS. You should not view adjusted results on a stand-alone basis or as a substitute for results under IFRS, or as being comparable to results report ed or forecasted by other companies. The Company’s functional currency is Renminbi (“RMB”). Given that a majority of the Group’s service contracts are denominated in U.S. dollars (“USD”), the Group presents certain operating results on both an actual exchange rate (“AER”) basis and a constant exchange rate (“CER”) basis. 2
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WuXi XDC: Pure-play and the Best CDMO Winner for Bioconjugates Contents 2026 Interim Results Highlights1 2 Financial Results3 4 Business and Operation Three-Year Consecutive Winner of the “Best CDMO” At World ADC Awards in 2023, 2024, 2025 and Winner of the “Best CRO” At World ADC Awards in 2025 Outlook and Summary 3
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2026 Interim Results Highlights 01
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Robust Business Growth and Outstanding Financial Results Projects(1) Key Financial Results and Backlog Note: 1. The minimum contract value for projects to be classified as iCMC projects was increased to over US$1.5 million. 2. The Group defines “adjusted net profit attributable to owners of the Company” as net profit attributable to owners of the Company after elimination of share-based compensation expense as non-cash expenditure, net foreign exchange loss or gain as non-operating item, non-recurring/one-off transaction costs as non-operating item, and net of interest income and finance costs as non-operating item. Net profit attributable to owners of the company for first half of 2026 is RMB 819.3 million. 3. The Company’s functional currency is Renminbi (“RMB”). Given that a majority of the Group’s service contracts are denominated in U.S. dollars (“USD”), the Group presents certain operating results on both an actual exchange rate (“AER”) basis and a constant exchange rate (“CER”) basis. Ongoing iCMC projects328 Commercial projects2 Newly signed iCMC projects51 PPQ projects21 New PPQ projects signed2 IFRS (RMB mm) Change in % AER(3) CER(3) Revenue 3,701.4 +37.0% +41.5% Gross Profit 1,371.3 +40.6% Gross Profit Margin 37.0% +0.9ppts Adjusted Net Profit Attributable to Owners of the Company(2) 1,027.3 +37.4% Margin of Adjusted Net Profit Attributable to Owners of the Company (2) 27.8% +0.1ppts Service backlog ~$2.0 bn +50.4% Total backlog incl. upcoming millstone fee ~$2.2 bn +62.2% 5
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Key Achievements and Milestones Innovation & Execution - “Best CDMO” awards for three consecutive years in 2023/2024/2025 World ADC Awards - “Best CRO” award at 2025 World ADC Awards - ESG A ratings (MSCI, Wind), Industry ESG Leader by Morningstar SustainalyticsRecognitions - Singapore site achieved GMP release for mAb/BCM3 on August 17; scheduled GMP release for DP4 by the end of August - Global talent base had exceeded 3,600 employees, including 950+ newly added worldwide. WuXi XDC standalone headcount surpassed 3,100, with 50%+ holding master's degrees or above Global Footprint - Serving 810+ customers worldwide, 160+ global IND submissions by 2026 1H cumulatively - “R” validation in WuXiTecan-2TM out-licensing: Note: 1. As of 30 June 2026 2. The client signed 2 iCMC projects with us and the total deal value including upfront fees, clinical and commercial milestones, and tiered sales royalties. Earendil Labs Licensing deal value $885m(2) one more out-licensing deal signed with a European biotech companyand 6
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Business and Operation 02
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Notes: 1. Cumulative number since our inception and as of June 30, 2026; 2. As of June 30, 2026, the number of ongoing integrated CMC projects, excluding projects with no revenue contribution in the past 30 months; 3. The small-sized figures account for the number of projects as of December 31, 2025, save for the number of projects at discovery stage, which is cumulative from the Group’s inception up until December 31, 2025 4. The minimum contract value for projects to be classified as iCMC projects was increased to over US$1.5 million. Our Business Model Continues to Win Customers and Projects Globally Number of Projects Through “Enable – Follow – Win” Strategy "Research”: Enable discovery to PCC "Development": Faster route to IND "Manufacturing": PPQ & Commercial 21 PPQ projects with more potential BLA submissions 77 25 iCMC project won in 2026 1H Seamless transition between early & late-stage PD 2 Commercial projects 162 ongoing post-IND bioconjugate projects “R” “M” 1325 166 105 25 “D” 328 iCMC Projects (2)(4) Preclinical Discovery(1) Phase I Phase II / 1039 (3) / 124 (3) / 86 (3) / 18 (3) Commercial 2 Phase III / 23 (3) 30 27 IND submissions in 20261H, 160+ accumulatively 51 new integrated projects signed in 2026 1H projects advanced from discovery to iCMC stage (1) （ 大类 dpADC - -Linker - 备注 -10-31 -the-Molecule -the-Molecule -MDPC -01-15 -the-Molecule -the-Molecule (杭州)有限公司 -payloadBsADC -12-30 -the-Molecule -the-Molecule -oncology (IO) -01-07 -the-Molecule -the-Molecule -7002,ADC -700 -03-05 -the-Molecule -the-Molecule -Oligonucleotideconjugate -02-24 -the-Molecule -905 -01-05 -the-Molecule -oncology (IO) -01-07 -the-Molecule -the-Molecule -02-12 -the-Molecule -the-Molecule -03-31 -the-Molecule -the-Molecule -Oligonucleotideconjugate -03-24 -the-Molecule -101 -03-23 -the-Molecule -the-Molecule -03-19 -the-Molecule -the-Molecule -03-08 -the-Molecule -the-Molecule -1426 -oncology (IO) -04-01 -the-Molecule -the-Molecule -10-06 -the-Molecule -Oligonucleotideconjugate -03-31 -the-Molecule -the-Molecule -03-20 -the-Molecule -03-16 -the-Molecule -the-Molecule -05-05 -the-Molecule -the-Molecule -oncology (IO) -05-14 -the-Molecule -the-Molecule -04-01 -the-Molecule -the-Molecule (杭州)有限公司 -02-12 -the-Molecule -02-11 -the-Molecule -the-Molecule -02-26 -the-Molecule SAS -075 -03-06 -the-Molecule -1666343 -06-05 -the-Molecule -the-Molecule -ADC-000420 -05-08 -the-Molecule -the-Molecule -oncology (IO) -06-01 -the-Molecule -2003 -05-26 -the-Molecule -05-15 -the-Molecule -the-Molecule -P79 -oncology (IO) -05-20 -the-Molecule -the-Molecule -05-26 -the-Molecule -the-Molecule -the-Molecule -the-Molecule -06-30 -the-Molecule -the-Molecule -06-18 -the-Molecule -BBB -Oligonucleotideconjugate -06-25 -the-Molecule -the-Molecule -oncology (IO) -07-31 -the-Molecule -the-Molecule -058 -06-21 -the-Molecule -payloadBsADC -oncology (IO) -01-05 -the-Molecule -the-Molecule -116 ADC -05-22 -the-Molecule -the-Molecule -20260331 -07-01 -the-Molecule -the-Molecule -060 -the-Molecule -Oligonucleotideconjugate -05-15 -the-Molecule -the-Molecule -A -the-Molecule -the-Molecule -oncology (IO) -07-03 -the-Molecule -the-Molecule -07-01 -the-Molecule -the-Molecule -03-01 -the-Molecule -the-Molecule -06-04 -the-Molecule -the-Molecule 8
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WuXi XDC Standalone Projects Funnel Number of Projects Through “Enable – Follow – Win” Strategy "Research”: Enable discovery to PCC "Development": Faster route to IND "Manufacturing": PPQ & Commercial 19 PPQ projects with more potential BLA submissions 75 projects advanced from discovery to iCMC stage(1) Seamless transition between early & late-stage PD 1 Commercial project 147 ongoing post-IND bioconjugate projects “R” “M” 1246 145 97 21 “D” 292 iCMC Projects (2)(4) Preclinical Discovery(1) Phase I Phase II / 1039(3) / 124 (3) / 86 (3) / 18 (3) Commercial 1 Phase III / 23 (3) 28 23 IND submissions in 2026H1, 146 accumulatively 49 New integrated projects signed in 2026H1 Notes: 1. Cumulative number since our inception and as of June 30, 2026; 2. As of June 30, 2026, the number of ongoing integrated CMC projects, excluding projects with no revenue contribution in the past 30 months; 3. The small-sized figures account for the number of projects as of December 31, 2025, save for the number of projects at discovery stage, which is cumulative from the Group’s inception up until December 31, 2025 4. The minimum contract value for projects to be classified as iCMC projects was increased to over US$1.5 million. 9
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51 Newly Signed Projects: Powering Innovation-Driven Growth in CRDMO Innovative Signed Project Highlights Sustained momentum in iCMC(1) projects signing ~16% Bi-specific ADCs ➢ The 51 newly signed iCMC projects span across all geographies, with the U.S. and China as the primary growth drivers. ➢ Emerging modalities (i.e: bi-specific ADCs, dual-payload ADCs, AOC, APC, TCE-ADC etc.) and indications (i.e metabolic disease, infectious disease, CNS diseases etc.) diversity fuels sustained growth. 2024 2025 2025 1H 2026 1H 53 70 37 ~8% Dual-payload ADCs ~22% XDCs Abbreviations: AOC=Antibody Oligonucleotide Conjugate, APC=Antibody Peptide Conjugate, FDC= Fragment-drug Conjugates, TCE-ADC=T Cell Engager Antibody-Drug Conjugate 51 ~30% ADCs w. novel targets/payload- linkers(2) Notes: 1. The minimum contract value for projects to be classified as iCMC projects was increased to over US$1.5 million. 2. Novel targets are targets that have not yet been validated by marketed ADCs; Novel payloads are payloads currently protected by valid patent(s). 3. To the best knowledge of the company 75%+(3) emerging novel targets/payload- linkers and modalities 10
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Commercial and PPQ Pipeline: A Solid Foundation for Commercial Success ➢ The 21 PPQ projects include both commercially validated MoAs and the next generation of ADCs ➢ 2 PPQ projects newly signed in 2026 1H ➢ Completed 27(1) iCMC PPQ components cumulatively ➢ 1/3 of PPQ projects target 1L treatment ➢ Strategically positioning us to capture opportunities across a wide range of targets, mechanisms, and therapeutic areas ~50% Overseas Projects 9 MNC/ Biopharma Customers 14 Differentiated Targets/MoAs PPQ Projects ProfileCommercial Projects Profile 2 Commercial Projects ➢ Commercial supply in China initiated, marking successful transition from clinical supply into commercial manufacturing. ➢ Anticipate more BLA filings from PPQ programs, reinforcing commercial visibility. Notes: 1. Cumulative number since our inception and as of June 30, 2026 11
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345 499 643 814 2023 2024 2025 2026 1H +144 +154 +171 Cumulative Global pharma customers from “Top 20 Pharmaceutical Companies” (1) (2) (3) 15 Revenue contributed by “Top 20 Pharmaceutical Companies” (1) (2) (3) ~34% Increasing Customer Base Growing Multinational Pharma Presence Expanding Customer Base and Deepening Global Pharma Partnerships Drive Strong Growth Momentum out of 20 Notes: 1. Top 20 pharmaceutical companies are ranked by revenue in 2025; 2. Partnership with WuXi XDC through itself or its acquired company; 3. WuXi XDC analysis; 4. For all deals with publicly disclosed deal values between January and July 2026 WuXi XDC Sustained Strong Traction in Industry Deals (Jan to Jul 2026) – Empowering Global Partner Collaborations Total number of global IND approvals in 2024 Total number of global IND approvals in 2024 Total number of global IND approvals in 2024 M&A Deals 100% Financing Deals 60%+ Licensing Deals 90%+ Aggregate deal value(4) 12 Aggregate deal value(4) Aggregate deal value(4)
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Standard Colors Secondary Palettes 15 105 54 0 169 102 162 217 241 0 172 222 83 194 230 165 216 219 67 180 116 152 206 160 165 203 11 184 214 110 220 233 173 225 227 0 255 241 0 114 113 113 159 160 160 201 202 202 0 169 235 0 167 45 175 209 0 65 61 60 ✓ WuXiTecan-2TM : Successfully out-licensed the technology to 2 companies (3 iCMC projects) ✓ WuXiLinkerTM : Proprietary hydrophilic linker applied to other payloads, creating favorable PLs • WuXiMMAETM • WuXiATRiTM • WuXiEribulinTM ✓ Novel Payloads • DDRi: WuXiTecan-2 synergizer • Immune agonist: WuXiTecan-2 synergizer ✓ X-LinCTM: Novel stable connector Commitment to Cutting-Edge Technologies, Empowering Next-gen ADCs and Novel Bioconjugates We continue to expand and advance our proprietary technologies ✓ WuXiDAR4TM: Applied to 10+ iCMC projects, 8 in clinical development ✓ WuXiDAR2TM: Highly homogeneous ADC and APC achieved; First client ADC (DAR2) project advanced to iCMC-ready stage ✓ WuXiDAR1TM: Highly homogeneous AOC(DAR1) achieved ✓ WuXiDARxTM dpADC: • Successfully applied to 10+ dpADCs • First project advanced to iCMC-ready stage WuXiDARxTM WuXi Payload-LinkerTM No antibody engineering , and no enzyme needed Offering variety of PLs with favorable hydrophilicity for next-gen ADCs 13
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22,000+ Bioconjugate molecules 4,400+ Protein carriers 5,100+ Payload-linkers (1) ADC Projects 967 discovery projects (2) 286 integrated projects XDC Projects Note: 1. Payload, linker and/or payload-linker, which combines both the payload and the linker 2. Cumulative number since our inception and as of June 30, 2026 22,000+ Bioconjugate Molecules Created — Driven by Our Technology and Expertise Diversified Projects ..Experience(2) .. Bioconjugation PD For Diversified Modalities 358 discovery projects (2) 42 integrated projects Antibody Peptide Conjugates (APC) Antibody Oligos Conjugation (AOC) Fatty Acid Conjugate (AFC) Antibody Chelator Conjugate (ACC) Antiviral Conjugate (AVC) PEGylation The Group successfully advanced discovery-stage programs into iCMC projects, converting 13 projects in 2026 1H, of which approximately 50% fall within the novel ADC/XDC category. 14
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2,300+ 600+ Abbreviations: DAC=Degrader-antibody Conjugate, AOC=Antibody Oligonucleotide Conjugate, APC=Antibody Peptide Conjugate Research Engine: 3,100+ ADC/XDC Molecules Explored in 2026 1H Regular ADC ~1,350 Bispecific ADC Dual-payload ADC ~200 ~120 DAC Others AOC ~300 (30%) ~250 (24%) ~200 (~20%) ~1,600 ADC Molecules ~1,000 XDC Molecules Novel ADCs Bispecific ADC Dual-payload ADC Novel XDC Modalities DAC AOC APC … … Empower ADC/XDC Innovation through Differentiated and Abundant Bioconjugate Molecules ~500 Intermediate Molecules ~260 (~26%) 52% 32% 16% APC 15
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Wuxi Shanghai Global R&D Center Singapore 3,600+ (1) Employees globally China Singapore+ Global Dual Sourcing “All-in-one manufacturing” for the entire bioconjugates supply chain is in full operation and expanding Our Global R&D and Manufacturing Network • mAb intermediate • Payload-linker • Drug substance • Drug product Note: 1. As of June 30, 2026 Hefei Peptide&Oligo Synthesis R&D Site Jiangyin (under construction) Payload-linker Manufacturing • mAb intermediate • Drug substance • Drug product More global expansion with RMB 8 billion capex budget from 2026 to 2030 Suzhou(BioDlink) mAb, DS, DP manufacturing 16
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• High utilization on current 7 production lines (XPLM1 L1, BCM1, BCM2 L1, BCM2 L2, DP1, DP2 and DP3) • New XPLM1 L2 is under construction, target to GMP release by late 2026/early 2027 • New additional DP lines DP5 and DP6 are planned and target to GMP release by 2027 1H and 2028 1H, respectively XPLM1 L2 DP5 Line DP6 Line Up to 2,000L mAb intermediate Payload- linkers Kilogram-scale 50 kg/ yr DS Manufacturing Up to 2,000L DP Manufacturing 12m vials/yr All-in-one manufacturing for the entire bioconjugates supply chain is in full operation and expanding Wuxi Site Overview Wuxi Site: All-in-One Manufacturing for Clinical and Commercial Projects Under construction 8m vials/yr 15m vials/yr 500 batches/yr 17
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Singapore Site: Cornerstone for Commercial Manufacturing Antibody and Protein Intermediates Drug Product Manufacturing Drug Substance Manufacturing Up to 2,000 L Up to 2,000 L 8 m vials More vials Better Service through Innovation Singapore’s Tuas Biomedical Park, Site Area 25,000 m2 • World-class manufacturing capabilities • Advanced modular technologies • Integrated mAb intermediate, DS, and DP production GMP release in August 2026 A Modular Fabrication MFG Site Service Scopes • GMP release of mAb/BCM3 (mAb, DS) and DP4 (DP) in August 2026 • GMP release of BCM4 by late 2026 GMP release schedule 18
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Jiangyin Site: New Capacity for Large Scale Payload-linker Manufacturing Large-scale Payload-linker Commercial Manufacturing ➢ High potent (OEB 5) and non-HP areas ➢ R&D for novel payload modalities ➢ XPLM2 with larger batch size, with total capacity up to 3-5 tons/yr ➢ 5x the volume of payload-linker production compared to current levels at Wuxi site ➢ QC, warehouses, and offices Conceptual rendering ✓ Accelerated Growth of Payload-linker: targeting the payload-linker business to outpace the Group's overall growth, establishing it as a strategic growth driver. Advanced R&D capabilities for diversified novel payloads and XDC molecules Scalable infrastructure supporting seamless commercial product launches PPQ batch supply to accelerate commercial progress 19
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Payload-Linker Business Emerging as a New Growth Engine, Strengthening One-Stop Differentiation ➢ Our in-house payload-linker manufacturing network further strengthens our differentiated “one-stop” strategy, providing seamless support across the entire value chain. ➢ New modalities expanded beyond traditional ADCs, spanning glucocorticoids, linker-oligonucleotide conjugates, lipid nanoparticles (LNPs), PROTACs, GalNAc-targeted therapeutics, and other emerging bioconjugate formats. ➢ 10+ payload-linker projects have advanced into PPQ stage, demonstrating the emergence of the standalone and rapidly growing payload-linker business. ~50% YoY Growth of Projects Executed 5+(2) MNC/ Biopharma Customers 7(3) Cumulative PPQ components Payload-linker Capabilities 10+ Dual/Tri-payloads projects Wuxi Site XPLM1 L2 Expansion Hefei Site Oligo & Peptide Expansion Jiangyin Site Construction Supported by multiple capacity expansion plans 20
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BioDlink Integration Synergy Values Strategic Alliances & Partnerships — Forming synergistic collaborations to strengthen competitive positioning and unlock mutual value. Service Upgrade & Differentiation — Elevating service capabilities and quality standards to deepen client engagement and capture premium market segments. Sustainable Revenue & Profit Growth — Executed a three-year CDMO Master Services Agreement to leverage BioDlink’s bioconjugate manufacturing capabilities and expand the Group’s integrated ADC/XDC service offering. Continuous Process Optimization & Capacity Utilization Improvement— Driving operational excellence through ongoing process optimization and utilization improvement. Following the acquisition, WuXi XDC holds a majority controlling stake of over 60% in BioDlink, enabling full consolidation and the integrated expansion of the service offering. 21
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Financial Results 03
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Consolidated Group Key Financial Performance 2,701 3,701 2025 1H 2026 1H Revenue Adjusted Net Profit Attributable to Owners of the Company (2) CER(1)YoY: 41.5% (RMB mm) Gross Profit 975 1,371 2025 1H 2026 1H YoY: 40.6% 748 1,027 2025 1H 2026 1H YoY: 37.4% 36.1% 37.0% 27.7% 27.8% (RMB mm) (RMB mm) Note: 1. The Company’s functional currency is Renminbi (“RMB”). Given that a majority of the Group’s service contracts are denominated in U.S. dollars (“USD”), the Group presents certain operating results on both an actual exchange rate (“AER”) basis and a constant exchange rate (“CER”) basis. 2. The Group defines “adjusted net profit attributable to owners of the Company” as net profit attributable to owners of the Com pany after elimination of share-based compensation expense as non-cash expenditure, net foreign exchange loss or gain as non-operating item, non-recurring/one-off transaction costs as non-operating item, and net of interest income and finance costs as non-operating item. Net profit attributable to owners of the company for first half of 2026 is RMB 819.3 million. • Revenue reached RMB 3,701.4 million, representing 37.0% AER YoY(41.5% CER YoY). • Gross profit grew 40.6% YoY to RMB 1,371.3 million, with gross margin increased from 36.1% to 37.0%. • Adjusted net profit attributable to owners of the Company (2) increased 37.4% YoY to RMB 1,027.3 million, while margin of adjusted net profit attributable to owners of the Company remained stable at 27.8%. AER(1) YoY: 37.0% 23
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WuXi XDC Standalone Key Financial Performance 2,701 3,556 2025 1H 2026 1H Revenue Adjusted Net Profit Attributable to Owners of the Company (2) CER(1) YoY: 36.2% (RMB mm) Gross Profit 975 1,337 2025 1H 2026 1H YoY: 37.1% 748 1,028 2025 1H 2026 1H YoY: 37.5% 36.1% 37.6% 27.7% 28.9% (RMB mm) (RMB mm) Note: 1. The Company’s functional currency is Renminbi (“RMB”). Given that a majority of the Group’s service contracts are denominated in U.S. dollars (“USD”), the Group presents certain operating results on both an actual exchange rate (“AER”) basis and a constant exchange rate (“CER”) basis. 2. The Group defines “adjusted net profit attributable to owners of the Company” as net profit attributable to owners of the Com pany after elimination of share-based compensation expense as non-cash expenditure, net foreign exchange loss or gain as non-operating item, non-recurring/one-off transaction costs as non-operating item, and net of interest income and finance costs as non-operating item. Net profit attributable to owners of the company for first half of 2026 is RMB 819.3 million. • WuXi XDC standalone revenue reached RMB 3,556.0 million, representing 31.7% AER YoY (36.2% CER YoY). • WuXi XDC standalone gross profit grew 37.1% YoY to RMB 1,336.8 million, with gross profit margin further improved to 37.6%. • WuXi XDC standalone adjusted net profit attributable to owners of the Company (2) increased 37.5% YoY to RMB 1,027.6 million, with margin of adjusted net profit attributable to owners of the Company further expanded to 28.9%. AER(1) YoY: 31.7% 24
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Strong Revenue Growth Underpinned by Diversified Project Status and Region 59% 41% 58% 42% Total Revenue (RMB mm) Pre-IND Post-IND 4,052.3 2024 5,944.2 2025 Revenue Breakdown by Project Status Revenue Breakdown by Region(1) Notes: 1. Revenue by geographic coverage is presented based on the location of the ultimate customer 2. Includes primarily countries and regions in Asia (excluding China) and Australia 50%26% 16% 8% North America China Europe Others(2) 2024 2025 51% 15% 25% 9% • Pre-IND Revenue: Rapid growth highlights our strong “R” and “D” capabilities and momentum • Post-IND Revenue: Accounts for over 50% of total revenue, with increased MFG batch executed Both pre-IND and post-IND Revenue Increased Significantly Diversified Revenue Streams From Customers Spanning Multiple Regions 58% 42% 3,701.4 2026 1H 2026 1H 46% 21% 25% 8% • Continued financing, licensing and M&A in ADCs and differentiated modalities supported industry expansion. North America remained the largest contributor, while Europe and China presented meaningful growth potential. • North America revenue: impacted by USD depreciation. • China revenue: lifted by BioDlink integration (China-centric operations). 25
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26.2% 27.7% 27.8% 2025 2025 1H 2026 1H WuXi XDC Standalone Margins Continued to Improve, with BioDlink Integration Temporarily Affecting Group Margins 36.0% 36.1% 37.0% 2025 2025 1H 2026 1H Gross Profit Margin - Group ➢ Maintained high utilization rate of existing facilities Notes: 1. The Group defines “adjusted net profit attributable to owners of the Company” as net profit attributable to owners of the Com pany after elimination of share -based compensation expense as non -cash expenditure, net foreign exchange loss or gain as non -operating item, non -recurring/one-off transaction costs as non -operating item, and net of interest income and finance costs as non -operating item. +0.1% +1.6% +0.9% +1.0% 26.2% 27.7% 28.9% 2025 2025 1H 2026 1H 36.0% 36.1% 37.6% 2025 2025 1H 2026 1H Gross Profit Margin – WuXi XDC Standalone +1.2% +2.7% +1.5% +1.6% Gross profit margin improved mainly attributed to ➢ Continuous process optimization and ongoing operational excellence Margin of Adjusted Net Profit Attributable to Owners of the Company(1) - WuXi XDC Standalone Margin of Adjusted Net Profit Attributable to Owners of the Company(1) - Group ➢ Successful ramp-up of production lines ➢ Increased contribution from higher value-added services 26
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Solid Growth of Backlog in 2026 1H Solid Backlog Growth • Service backlog reached ~US$2.0 bn, up 50.4% YoY , with commercial backlog emerging as more ADC programs advance into BLA stage. • Total backlog including upcoming milestone fee reached ~US$2.2 bn, up by 62.2% YoY • WuXi XDC standalone total backlog reached ~US$ 2.1 billion, representing 57.9% YoY growth 991 1,489 1,329 1,998 2024 2025 2025 1H 2026 1H USD mm 50.3% YoY Number of Projects Through “Enable – Follow – Win” Strategy 50.4% YoY (service backlog) Notes: 1. Cumulative number since our inception and as of June 30, 2026; 2. As of June 30, 2026, the number of ongoing integra ted CMC projects, excluding projects with no revenue contribution in the past 30 months; 3. The small-sized figures account for the number of projects as of December 31, 2025, save for the number of projects at discovery stage, which is cumulative from the Group’s inception up until December 31, 2025 4. The minimum contract value for projects to be classified as iCMC projects was increased to over US$1.5 million. 162 ongoing post-IND bioconjugate projects “R” “M” 1325 166 105 25 “D” 328 iCMC Projects (2)(4) Preclinical Discovery(1) Phase I Phase II / 1039 (3) / 124 (3) / 86 (3) / 18 (3) Commercial 2 Phase III / 23 (3) 30 27 62.2% YoY (total backlog) 2,156
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List of Facilities and Capex Plan NO Facility 2024 2025 2026 2027 1H 2H 1H 2H 1H 2H 1H 2H 1 BCM1(DS) 2 BCM2 L1 (mAb/DS) 3 PLM1 L1(PL) 4 DP1(DP) 5 DP2(DP) 6 BCM2 L2 (mAb/DS) 7 DP3(DP) 8 BCM3 (mAb/DS) 9 DP4(DP) 10 BCM4(DS) 11 PLM1 L2(PL) 12 DP5(DP) 13 DP6(DP) 14 PLM2(PL) Existing New Domestic Overseas WuXi XDC Standalone Facilities GMP release by 2027 1H GMP release by 2028 1H Under construction Note: 1. In the first quarter of 2026, the Group completed the BioDlink Acquisition, through a voluntary conditional cash tender offer. 2. Under renovation. GPM release in 2019 GPM release in 2023 GPM release in 2023 GPM release in 2019 GPM release in 2023 NO Facility 2024 2025 2026 2027 1H 2H 1H 2H 1H 2H 1H 2H 1 DS01(mAb)(2) 2 DS02(mAb) 3 DS03(DS) (2) 4 DS04(DS) 5 DS05(DS) 6 DP03(mAb) 7 DP04(mAb) 8 DP05(DP) 9 DP06(DP) 10 DS06(mAb non GMP) 11 New DP line 12 New AOC line BioDlink(1) Operational Facilities GPM release in 2018 GPM release in 2023 GPM release in 2020 GPM release in 2023 GPM release in 2019 GPM release in 2019 GPM release in 2023 We expect to commit RMB 8 bn capex investment by 2030, including • The construction of linker payload facilities - Jiangyin site • Opportunities for overseas expansion GPM release in 2025 GPM release in 2025 GMP release by 2028 GMP release by late 2028 GPM release in 2024 GPM release in 2025 GPM release in 2026 GPM release in 2026 Operational in January 2026 GMP release by late 2026 GMP release by late 2026/early 2027 28
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Outlook and Summary 04
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A Unified Vision and Strategic Blueprint for Commercial Success 2026 2027 2028 2030…… ADC ADC + ADC/BsADC, AOC, APC, DpADC Wuxi, Singapore, Suzhou(BioDlink) Wuxi, Singapore, Jiangyin, Suzhou(BioDlink) Domestic and overseas expansion 30+ PPQ components 4-6 BLA Submissions 45+ PPQ components 7-10 BLA Submissions 60+ PPQ components 12-15 BLA Submissions Modalities MFG Capacity 20% of revenue from XDC modalities & 20% of revenue from “M” projects Growth Target by 2030 Commercialization Strategy - a systematic growth engine built around diversified MFG capabilities, rich funnel, and globalization Abbreviation: BsADC=Bi-specific ADC; AOC=Antibody Oligonucleotide Conjugate; APC=Antibody Peptide Conjugate; DpADC=Dual-payload ADC Accumulative “M” Projects 30
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Frontier Molecule Growth Strategy for 2025-2030: R, D, M Firing in All Cylinders Commercial MFG Acceleration to FIH • Right first time in BLA/PLI & capturing next wave of BLA opportunities • Capacity expansion: ADC DS, DP, payload-linkers • Follow the molecule to BLA and beyond • Overseas expansion • Seamless integration of expertise across XDC components and project progresses • Evolving & improved integrated technology platforms and single-source solution • Sustained commitment to core technologies (conjugation, linker and payload), empowering XDC modalities • Non-ADC project pioneer: AOC, APC, AVC, ACC, DAC… • Dual-payload, BsADCs, Novel payload ADCs • Great innovation monetization opps R D M Abbreviations: AOC= Antibody-oligonucleotide conjugates ；APC=Antibody peptide conjugates; AVC=Antiviral conjugates; ACC=Antibody chelator conjugates; DAC=Degrader antibody conjugates. 2025 2030 “All-in-One” Further Enhanced Elevating Our Vision for Industry Leadership Co. CAGR 30-35%(1) Notes: 1. Assume the current exchange rate. Based on current estimate and industry conditions. 2. ADC and broader bioconjugates CDMO industry CAGR can be referred to Frost&Sullivan report. Industry average ~25.6%(2) 31
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Key Summary New modality opportunities: such as BsADC, DpADC, AOC, APC and other XDCs Accelerated payload-linker growth and potential technology platform value creation Backlog expansion at Singapore facility CMO business ramp-up with growing order backlog Industry growth momentum remained strong BioDlink post-acquisition integration synergies and value capture through operational optimization and capacity scaling 32