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(formerly known as Novartis India Limited) I N V E S T O R P R E S E N T A T I O N November 3, 2026 B S E S C R I P C O D E : 5 0 0 6 7 2
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Evonile Pharma Limited · Investor Presentation I M P O R T A N T N O T I C E Disclaimer This presentation has been prepared by the management of Evonile Pharma Limited (formerly know as Novartis India Limited) (the “Company” or “Evonile”) solely for the information of the recipients. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the date of this presentation. Certain statements made in this presentation may not be based on historical information or facts and may be “forward-looking statements” based on the currently held beliefs and assumptions of the management of the Company, which are expressed in good faith and in their opinion reasonable, including those relating to the Company’s general business plans and strategy, its future financial condition and growth prospects, and future developments in its industry and its competitive and regulatory environment. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance or achievements of the Company or industry results to diāer materially from those expressed or implied by such statements, including future changes or developments in the Company’s business, its competitive environment and political, economic, legal and social conditions. Past performance is not necessarily indicative of future results. The Company disclaims any obligation to update these forward-looking statements to reflect future events or developments. This presentation is for general information purposes only, without regard to any specific objectives, financial situations or informational needs of any particular person, and does not constitute an oāer or invitation to purchase or subscribe for any securities. No part of it should form the basis of, or be relied upon in connection with, any investment decision or any contract or commitment to purchase or subscribe for any securities. 2
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Where potential peaks Evonile Pharma Limited · Investor Presentation
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Evonile Pharma Limited · Investor Presentation C O M P A N Y O V E R V I E W Company snapshot (1) As per IQVIA MAT Sep’26 4 House with a Long Legacy79+ Years since founding43 Years listed on the BSEScaled, Market-leading Brands100% India-focused business6 Brands with ₹30 cr+ Revenue1
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Evonile Pharma Limited · Investor Presentation C O M P A N Y O V E R V I E W Legendary Brands, Untapped Focus 5 DECADES OF HERITAGE •Decades-old portfolio; several brands set the reference standard in their category •Original-molecule pedigree anchors brand identity and quality perception •Deep-rooted familiarity across prescribers and chemists nationwide PRESCRIBER EQUITY INTACT •High unaided recall among HCPs •Prescription pull sustained with minimal recent promotion •Awareness spans metro, Tier 1 and Tier 2, beyond key accounts UNTAPPED POTENTIAL •Previously taken to market via partner-led, outsourced distribution •Brands have untapped headroom THE ACTIVATION GAP: •No dedicated field force behind these brands today; demand runs on legacy prescriber loyalty alone •Re-establishing in-house, focused promotion is the platform's single largest value unlock
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Evonile Pharma Limited · Investor Presentation B R A N D P O R T F O L I O Flagship brands hold leadership across priority therapies Pain Management RPM: 1,696 Cr+ V overan® Orals, Injectables, Topicals #1 CVM rank Gynaecology RPM: 155 Cr+ Methergin® Orals, Injectables #1 CVM rank Wellness (VMN) RPM: 2,840 Cr+ Calcium-Sandoz® Injectables #1 CVM rank Macalvit® Orals #1 CVM rank Neuro (CNS) RPM: 585 Cr+ T egrital® Orals #1 CVM rank Transplant RPM: 975 Cr+ Myfortic Orals #1 CVM rank Simulect Injectables #1 CVM rank (1) Source: IQVIA TSA MAT Sep’26; RPM: Internal Represented Market; CVM: Covered Market 6 Cardiology RPM: 11,398 Cr+ Minipress XL® Orals #1 CVM rank
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Evonile Pharma Limited · Investor Presentation C O M P A N Y O V E R V I E W Financial snapshot 379 335 356 354 103 85 101 93 FY23 FY24 FY25 FY26 Revenue From Operation and PAT (₹ crore) Revenue From OperationPAT Revenue CAGR FY23-26 PAT CAGR FY23-26 ₹Net cash as of Mar’26 7
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B U S I N E S S P E R F O R M A N C E A transition quarter: brands back in-house, Minipress XL added, field force being built
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Evonile Pharma Limited · Investor Presentation Q 2 A N D H 1 F Y 2 7 MD & CEO’s message Dr. Vikas Gupta Following the transition from Novartis AG, Evonile Pharma has made substantial progress in just a few months. We are transitioning from a single-customer-dependent business model to an independent pharmaceutical company with our own distribution, sales and marketing capabilities. This shift requires a new organizational foundation, and the key building blocks are being put in place. These capabilities will provide the foundation for establishing Evonile as one of India’s progressive and forward-looking domestic pharmaceutical companies. During the quarter, we completed two strategic transactions: the acquisition of Minipress XL and an ophthalmology in-licensing agreement. Both strengthen our portfolio and create new platforms for sustainable growth. In H2 FY27, our focus will be on completing the organizational build-out, establishing an appropriate cost structure and bringing together a strong leadership & operating team to drive Evonile’s next phase of growth. We are laying the foundations of an organization with the capabilities, ambition and strategic direction to unlock the full potential of Evonile Pharma.” Dr. Vikas Gupta Managing Director & CEO 9
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Evonile Pharma Limited · Investor Presentation B U S I N E S S M O D E L What has changed, and what it means 10 E A R L I E R M O D E L C U R R E N T M O D E L I M P L I C A T I O N Majority of sales concentrated with a single customer Direct sales to stockists across the Market Moved to a direct model to unlock potential of legacy brands. (Voveran, Methergin, Calcium Sandoz etc.) Limited distribution channel 20+ CFAs and 2000+ stockists onboarded Nationwide distribution network in place to support the new model and ensure last mile coverage Limited field presence Strengthened field force to accelerate the new model Building our in-house sales and marketing team to drive revenue growth Part of global systems and process Standalone domestic pharma operation Independent and faster execution. One-time cost of independent systems (Accounting, HRMS, field reporting) Limited promotion on brand Growth through legacy and acquired brands Focus to drive growth through portfolio expansion and a stronger pipeline
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Evonile Pharma Limited · Investor Presentation Q 2 A N D H 1 F Y 2 7 Results overview: Q2 and H1 FY27 90 56 178 160 Q2 FY26 Q2 FY27 H1 FY26 H1 FY27Revenue from operations (₹ crore) YoY: Q2 -38% | H1 -10% 90 56 +7 -41 0 20 40 60 80 100 Q2 FY26 Sales Sales to erstwhile partner in Q2 FY26 Incremental Sales from in-house Division Q2 FY27 Sales Q2 FY27 Vs Q2 FY26 Sales Bridge Revenue from operations: •₹56 cr in Q2 FY27 vs ₹90 cr in Q2 FY26 (-38% YoY); •₹160 cr in H1 FY27 vs ₹178 cr in H1 FY26 (-10% YoY) Q2 FY27 sales is not comparable with Q2 FY26 due to change in business model leading to one time correction. 11
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Evonile Pharma Limited · Investor Presentation Q 2 A N D H 1 F Y 2 7 Financial overview: Q2 and H1 FY27 24 -16 51 19 Q2 FY26 Q2 FY27 H1 FY26 H1 FY27Adjusted Operating EBITDA (₹ crore) Operating EBITDA and PAT for FY27 is not comparable with Q2 and H1 FY26, primarily due to: •Change in business model has led to transition cost, one-time expenses and higher operational expenses. PAT for Q2 and H1 FY27 includes following items: •~₹15 cr impact due to One-oā Expenses related to transition activities and acquisition of Minipress, reported in Other Expenses. •Exceptional items amounting to ₹68 cr comprise: •₹61 cr arising from termination of exclusive promotion rights of one customer and related inventory purchase arrangements; • ₹7 Cr relating to the unamortized import licences. •Depreciation & amortization: ~₹4 cr higher vs LY, primarily due to amortization of acquired brands in H1 FY27 •Finance cost: ~₹5 cr in Q2 FY27, on interest on borrowings for the brand acquisition in Sep 26. •Tax: A reversal of ~₹24 cr in Q2 FY27 due to reversal of current tax and recognized deferred tax asset 12 24 -78 52 -45 Q2 FY26 Q2 FY27 H1 FY26 H1 FY27Profit/(Loss) After Tax (₹ crore) Q4 FY27 / Q1 FY28 will reflect the actual cost structure
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Evonile Pharma Limited · Investor Presentation Q 2 A N D H 1 F Y 2 7 Q2 and H1 FY27 Financial Performance 13 YoY H1 FY26 H1 FY27 YoY Q2 FY26 Q2 FY27 Particulars (₹ crore) -10% 177.9 159.9 -38% 90.3 56.1 Revenue from operations 6% 97.3 102.8 -7% 50.5 47 .1 Cost of goods sold 80% 10.6 19.1 171% 5.3 14.4 Employee benefit expenses 3% 18.9 19.5 4% 10.6 11.0 Other expenses 51.1 18.5 - 23.9 -16.4 Adjusted Operating EBITDA - 15.4 - - 15.4 One-time expenses NA 51.1 3.1 NA 23.9 -31.8 Operating EBITDA 29% 2% 26% -57% Operating EBITDA margin 0 68.3 0 68.3 Exceptional items 51.1 -65.2 23.9 -100.1 EBITDA Post exceptional Items 1.1 4.3 0.5 3.9 Depreciation & amortisation 0.2 4.9 0.1 4.8 Finance costs 20.1 16.5 9.4 7.7 Other income 69.9 -57.9 32.7 -101.1 Profit/(Loss) before tax 18.1 -12.6 8.5 -23.6 Tax expenses 51.8 -45.3 24.2 -77.5 Profit/(Loss) after tax
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Evonile Pharma Limited · Investor Presentation W A Y F O R W A R D 14 01 Stabilize and scale the businessSeamless execution across operations, supply and the commercial mode Complete market availability re-established through own CFAs and stockists network Prescriber mindshare rebuilt through focused engagement 02 Complete infrastructure build-out Distribution and corporate infrastructure now firmly established Employee and S& M expenses to be stepped up in phase, with the full build-out by Q4 FY27 Key Imperatives for FY27 Reduce debt significantly Significant debt reduction, by capital infusion 03 Return to growth across the portfolio Minipress: Return to growth; Re-ignite growth across all the brand portfolio Convert the stronger field force and distribution reach into sale 04
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Evonile Pharma Limited · Investor Presentation W A Y F O R W A R D Long T erm Vision 15 Revenue T rajectory T O D A Y Stable, legacy book ▼ T O M O R R O W Focus on above-market growth via deep geo-penetration and specialty Portfolio Breadth T O D A Y Concentrated in flagship brands ▼ T O M O R R O W Broader basket across core therapies / Regular in-licensed & new launches Growth Avenues T O D A Y Single standalone asset ▼ T O M O R R O W Disciplined M&A strategy to build scale and profitability Operating Margin T O D A Y Healthy, parent-era cost base ▼ T O M O R R O W Margin uplift via new launches / profitable growth / procurement & cost optimization Focus on Returns T O D A Y Cash on Balance sheet / low returns ▼ T O M O R R O W Growth, ROCE and FCF as core priorities
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Evonile Pharma Limited · Investor Presentation A B O U T U S About Evonile Pharma Limited (formerly known as Novartis India Limited) Evonile Pharma Limited (BSE: 500672) is a 100% India-focused branded pharmaceuticals company with a legacy of over 79 years and 43 years of listing on the BSE. Its flagship brands – V overan, Methergin, Calcium-Sandoz, T egrital and Myfortic – hold #1 positions in their covered markets across pain management, gynaecology, wellness, neuroscience and transplant. Through the acquisition of Minipress XL and the in-licensing of a retina portfolio, the company has added cardiology and ophthalmology. It runs an asset-light model and takes its portfolio to market through its own therapy-aligned field force and distribution network. ChrysCapital Group holds 70.68% of the company. For more details, please visit www.evonilepharma.com For further information, please contact: Bhagwat Singh Deora Chief Financial Oāicer Jason D’Souza President – M&A, BD & IR Investor Relations investor.relations@evonilepharma.com 16
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T H A N K Y O U Evonile Pharma Limited (formerly known as Novartis India Limited) · A ChrysCapital portfolio company For queries on this presentation, please contact the Oāice of the CFO / Investor Relations: investor.relations@evonilepharma.com