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Aurobindo Pharma Limited Earnings Presentation Q2FY27
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Disclaimer This presentation is provided for informational purposes only and does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for any interest in or securities of Aurobindo Pharma Limited, nor shall it, or any part hereof, form the basis of, or be relied on in connection with, any contract, therefore. This presentation contains statements that constitute “forward looking statements” including and without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to our future business developments and economic performance. While these forward-looking statements represent our judgment and future expectations concerning the development of our business, such statements reflect various assumptions concerning future developments and a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to, general market, macro-economic, governmental and regulatory trends, movements in currency exchange and interest rates, competitive pressures, technological developments, changes in the financial conditions of third parties dealing with us, regulatory and legislative developments, and other key factors that we have indicated could adversely affect our business and financial performance. Aurobindo Pharma Limited undertakes no obligation to publicly revise any forward-looking statements to reflect future events or circumstances. This document is strictly confidential and may not be disclosed, reproduced or redistributed, in whole or in part, to any other person. 2 2
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Table of Contents 3 04 11 14 Q2FY27 Business & Financial Highlights Financial Summary Update on Biosimilars and Biologics Contract Manufacturing 13 Filings Snapshot18
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Q2FY27 Business & Financial Highlights 4
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Key Financial Highlights of the Quarter 5 ₹ 10,263 Cr Revenue ₹ 2,156 Cr EBITDA ₹ 1,124 Cr Net Profit ₹ 8,286 Cr ₹ 1,678 Cr ₹ 848 Cr Y-o-Y growth % 23.9% 28.5% Q2FY27 Q2FY26 32.5% 5 ₹ 1,691 Cr PBT ₹ 1,274 Cr 32.7%
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Highest ever quarterly revenue of ₹10,263 Cr with 23.9% growth Y-o-Y, driven by strong performance across all business areas Business Highlights – Q2FY27 Net Capex of US$ 89 million* primarily towards capability enhancements, new business developments Launched 10 products in the US market (including gAdvair and ADQUEYTM our first NCE) Generated net cash flow of US$ 146mn during the quarter, with a strong net cash position (including investments) of ~US$ 189 million* as on 30-Sep-26 *converted at USD:INR rate as on Sep 30th, 2026 Sustained strong profitability with the highest-ever quarterly EBITDA of ₹2,156 Cr at a margin of 21.0% 6 Successfully completed the acquisition of Lannett further strengthening our US presence and expanding our capabilities in complex and controlled substances
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1,603 1,678 1,773 1,801 1,881 2,156 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 824 848 910 921 1,032 1,124 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Quarterly Performance – Q2FY27 7,868 8,286 8,646 8,853 9,150 10,263 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 EBITDA (₹ Cr.) Cash flows from business (US$ Mn) Revenue (₹ Cr.) PAT (₹ Cr.) 7 7 115 100 159 96 98 188 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27
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Consolidated Business Performance 8 ₹ Cr Q2FY27 Q2FY26 Y-o-Y (%) Q1FY27 Q-o-Q (%) USA 4,555 3,638 25.2% 3,770 20.8% Europe 3,161 2,480 27.5% 2,937 7.6% Growth Markets 1,026 882 16.3% 1,063 -3.5% ARV 359 325 10.2% 330 8.7% Total Formulations 9,102 7,325 24.2% 8,101 12.4% Beta-lactam 858 687 24.8% 800 7.3% Non Beta-lactam 304 273 11.3% 250 21.7% Total API 1,162 961 20.9% 1,049 10.7% Revenue from operations 10,263 8,286 23.9% 9,150 12.2% 8
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US Formulations Business Performance Highlights • US revenue in Q2FY27 accounted for 44% of consolidated revenue. Ex-gRevlimid the revenue grew by 20% Q-o-Q. The growth was driven by successful Lannett integration, strong volume gains and strong injectables ramp-up • Received final approval for 12 products during the quarter (including 1 tentative approval earlier now received final approval) CommentaryRevenue ex-gRevlimid (US$ Mn) 411 399 477 Q2FY26 Q1FY27 Q2FY27 9 9
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Europe (EUR Mn) Revenue Break-up by Business Growth Markets (US$ Mn) ARV (US$ Mn) API (₹ Cr.) 10 243 267 288 Q2FY26 Q1FY27 Q2FY27 101 112 107 Q2FY26 Q1FY27 Q2FY27 37 35 38 Q2FY26 Q1FY27 Q2FY27 961 1,049 1,162 Q2FY26 Q1FY27 Q2FY27 Europe business posted growth of 18% YoY with strong performance across all key markets continuing its momentum Growth Markets remained stable with continued momentum in key markets API business revenues grew by 11% Q-o-Q driven by strong performance in entire portfolio ARV business continued to remain stable with variation driven by tender opportunities
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Financial Summary 11
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Summary Consolidated Profit & Loss Statement 12 ₹ Cr. Q2FY27 Q2FY26 Y-o-Y Chg. (%) Q1FY27 Q-o-Q Chg. (%) Revenue from Operations 10,263 8,286 23.9% 9,150 12.2% Gross Profit 6,280 4,947 26.9% 5,523 13.7% Gross Margin 61.2% 59.7% 149 bps 60.4% 83 bps Overheads -4,124 -3,269 26.2% -3,642 13.2% EBITDA (before Forex and Other Income) 2,156 1,678 28.5% 1,881 14.6% EBITDA Margin 21.0% 20.3% 75 bps 20.6% 45 bps Fx Gain/(Loss) 3 5 -42.8% 53 -94.6% Finance Cost -102 -95 7.3% -102 0.5% Depreciation -531 -429 23.8% -487 9.0% Other Income 165 116 43.0% 212 -21.9% Exceptional items 0 0 n/a -40 n/a PBT before share of profit / (loss) of JV 1,691 1,274 32.7% 1,517 11.5% Tax -564 -428 31.8% -483 16.7% Share of Profit/(Loss) of JV -3 2 n/a -2 92.2% Profit after Tax 1,124 848 32.5% 1,032 8.9% Minority Interest 2 0 n/a 1 n/a Net Profit attributable to Owners of the Company 1,126 848 32.7% 1,033 9.1% Reported EPS 19.57 14.61 33.9% 17.86 9.6% Average Fx rate US$1 = INR 95.55 87.29 94.53 12
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699 726 688 725 800 757 185 117 99 84 87 102 Jun-25 Sep-25 Dec-25 Mar-26 Jun-26 Sep-26 Working Capital Loan Other Term Loan Net Debt Movement (US$ Mn) Gross Debt (US$ Mn) Debt as on (INR Cr) Mar-23 Mar-24 Mar-25 Mar-26 Sep-26 Closing Rate (INR/USD) 82.170 83.405 85.475 94.835 95.825 Fx Loan restated in INR 4,638 3,994 5,883 6,709 7,628 Rupee Loan 224 2,324 2,065 964 604 Gross Debt 4,862 6,318 7,948 7,673 8,232 Cash Balance & Investments 6,453 6,467 8,307 10,676 10,044 Net Debt/(Net Cash) (1,591) (149) (359) (3,002) (1,812) Net Debt/(Net Cash) (US$ Mn) (194) (18) (42) (317) (189) Finance Cost# 4.0% 5.1% 5.5% 5.0% 4.9% Income on Investments in INR (cumulative for the period) 148.5 288.3 356.4 331.3 163.4Particulars Q2FY27 Cash Flow from Business after Working Capital & Others 235 Less: Capex Normal/ANDA -47 Cash Flow from Business 188 Less: Capex for New business / product development -25 Less: Capex for Biosimilars / Biologics CMO -17 Net Cash Flow after Dividend and Strategic Capex 146 Value (US$ Mn) Q2FY27 Opening Cash / (Debt) 31 Net Cash Flow after Dividend and Strategic Capex 146 Closing Cash / (Debt) 177 Investments 13 Closing Net Cash / (Debt) including Investments 189 # Excluding interest on lease liabilities | Fx Debt and Fx Cash Balance are restated Debt Profile 13 786884 13 843 809 887 859
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Update on Biosimilars and Biologics Contract Manufacturing 14
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Subcutaneous formulations and device- combination products, such as auto-injectors and pens, position CuraTeQ for the shift from hospital IV treatment to convenient self- administered care at home. Capacity and pipeline to sustain growth into 2030 15 CAPACITY EXPANSION IN PROGRESS 10,000 L mammalian cell-culture bioreactors (4 × 2,500 L) with integrated purification suites, added to existing CuraTeQ capacity. AUROVACCINES MERGER – MORE CAPACITY ADDITION FOR BIOSIMILARS 2027 target completion, on track. The repurposed vaccines facility to add microbial and mammalian drug substance capacity and PFS and vial filling lines by end-2027. ANTI -HER2 EXPANSION 600 mg SC trastuzumab subcutaneous enters clinical studies in Dec 2026, extending the oncology franchise beyond IV. Biosimilar pertuzumab development complete and will progress to the clinic in Q12027. REGULATORY PROGRESS Omalizumab Omazijev filed with CHMP/EMA. On track for filing with US FDA this FY. Denosumab CHMP review of two biosimilars FILVIZY and FUGEVY is ongoing. Expected Health Canada and US FDA filing next Quarter. Bevqolva (bevacizumab) Marketing authorisation granted in India and will be launched next Quarter. The product is already approved in Health Canada and MHRA. CAVOLEY and NUGEFY CHMP approval for STADA's European brands of pegfilgrastim and filgrastim. First supplies to begin next Quarter contributing to increased EU coverage. NEW DEVICE MODALITIES
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Four launched, three filed, five advancing 16 Brand / code Molecule Segment Stage Status DYRUPEG Pegfilgrastim Oncology Launched Approved by EMA, MHRA and Health Canada; on the market ZEFYLTI Filgrastim Oncology Launched Approved by EMA and MHRA; on the market BEVQOLVA Bevacizumab Oncology Launched Approved by MHRA, Health Canada and CDSCO; on the market; Phase 3 ongoing for more markets DAZUBLYS Trastuzumab Oncology Launched Approved by EMA, MHRA and CDSCO; on the market FUGEVY# / FILVIZY* Denosumab Bone Health Filed Filed with EMA and CDSCO; CHMP review in progress OMAZIJEV Omalizumab Respiratory Filed Filed with EMA; further filings, including the FDA, planned this FY BP08 Tocilizumab Autoimmune Pivotal complete Pivotal study complete; filing planned for 2027 BP05 Ranibizumab Ophthalmology Phase 3 Phase 3 under way; recruiting the last few patients BP58 Trastuzumab S.C. Oncology Preclinical / Ph1 Phase 1 ready; first subject injection in Dec 2026 BP31 Secukinumab Immunology Process development Process development complete BP27 Pertuzumab Oncology Clinical development Preclinical development complete; Phase 1 study starts in Q4
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TheraNym: 120 KL of contract capacity, anchored by MSD 17 Oct 2026 Unit 2 construction begins Ground-breaking done for the greenfield drug substance facility, part of the third product schedule with MSD. Full-scale construction to begin, pending clearances. Mar 2027 Unit 1 qualified Unit 1's 15 KL mammalian cell-culture bioreactors have entered equipment IQ/OQ. Commissioning and qualification are expected to finish by March 2027. On track with the 2028 milestone for stockpiling leading to revenues generation from the CMO. 2030 Unit 2 ready for qualification Unit 2 adds 60 KL of capacity on an estimated capex of USD 180 Mn, completing the combined 120 KL footprint. 120 KL Combined bioreactor capacity: 60 KL in Unit 1 (2027) and 60 KL in Unit 2 (2030) 2030 Vision Large-scale capacity and the MSD partnership position TheraNym as a reliable node in the global supply chain for life-saving biologics.
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Filings Snapshot 18
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US ANDA Filings Snapshot as on 30th September 2026 19 ANDA Filings CNS ARV Gastroenterological SSP & Cephs Oncology & Hormones Anti-Diabetic Controlled Substances Respiratory (incl. Nasal) Ophthalmic Dermatology Penem Injectables Others Total 900 254.4 166 34.6 30 1.5 50 4.6 35 0.7 65 17.2 27 113.4 16 1.0 22 1.4 19 4.0 21 1.4 3 0.2 320 32.7 CVS 126 41.8 Therapy ANDAs Addressable Market Size (US$ Bn)^^ ** Does not include the addressable market of the products approved under PEPFAR; Awaiting final approval includes Tentative Approvals *Tentative Approvals (TAs) include 6 ANDAs approved under PEPFAR ^ Represents dual filing from Eugia 3 and Eugia 5 573 88 0 100 200 300 400 500 600 700 Approved Awaiting Final Approval 174 65 0 50 100 150 200 250 300 Approved Awaiting Final Approval Specialty & Injectables Aurobindo (Excl. Specialty & Injectables) 747 35 118 0 100 200 300 400 500 600 700 800 Final Approval Tentative Approval* Under Review Unit-wise ANDA Filings **Including acquired ANDAs from Mylan ^^Source: IQVIA MAT Aug’26 Site Details Final Approval Tentative Approval* Under Review Total Unit III Oral Formulations 124 6 5 135 Unit VIB Cephalosporin Orals 15 0 0 15 Unit VII (SEZ) Oral Formulations 165 5 5 175 Unit XII Penicillin Orals & Injectables 12 0 1 13 APL HC I Oral Formulations 31 3 10 44 APL HC III Orals & Topicals 19 0 8 27 APL HC IV Oral Formulations 103 11 18 132 Aurolife & Aurolife– II Orals & Topicals 33 0 10 43 Eugia I Oral & Injectable Formulations 43 7 11 61 Eugia II Penem Injectables 2 0 1 3 Eugia III Injectables & Ophthalmics 108 2 39 149 Eugia SEZ Injectables 11 0 0 11 Eugia Steriles Injectables 3^ 1 2 6 Aurovitas Oral Formulations 0 0 3 3 Others** 78 0 5 83 Total 747 35 118 900 19
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Thank You For more information, contact: Investor Relations | Corporate Communications +91 40 6672 1211 ir@aurobindo.com www.aurobindo.com 2020