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July 28, 2026 Repligen Supplemental Presentation Q2-26 Results
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2 Safe Harbor This presentation contains forward-looking statements within the meaning of the federal securities laws. Statements in this presentation which are not strictly historical statements including, without limitation, express or implied statements or guidance regarding Repligen’s financial results for full year 2026, future financial performance and other statements identified by words like “estimated,” “anticipated,” "guidance," or “goal,” and similar expressions are forward-looking statements. These statements are subject to risks and uncertainties which may cause our plans to change or actual results to differ materially from those anticipated. In particular, unforeseen events outside of our control may adversely impact future results. Additional information concerning these factors is discussed in our reports filed with the Securities and Exchange Commission including recent Form 8-Ks, our most recent Annual Report on Form 10-K and our most recent Quarterly Reports on Form 10-Q, all of which are available on our website. The forward- looking statements in this presentation reflect management’s current views and may become obsolete as a result of new information, future events or otherwise. We may not update such forward looking statements to reflect a change of events or circumstances that occur after the date hereof, except as required by law. The industry and market data contained in this presentation are based on management’s own estimates, independent publications, government publications, reports by market research firms or other published independent sources, and, in each case, are believed by management to be reasonable estimates. Although we believe these sources are reliable, we have not independently verified the information.
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3 Franchise Growth Q2-26 revenue growth led by strength in Proteins and Analytics End-Markets CDMOs and emerging biotech grew high-teens … APAC led all geographies along with strong demand in North America Margins1 Expanded adjusted gross margin by 280 bps YoY driven by volume, price, and mix … adj. operating margins increased by 460 bps with disciplined cost management Strategy Announced definitive agreement to acquire BioLife Solutions on July 22nd Raising organic revenue growth guidance to 10.5%-13.5% ... Increasing adjusted EPS to $2.03 - $2.09 given strong 1H performance2026 Guidance1 Q2-26 Highlights (1) Organic revenue growth, adjusted gross margin, adjusted operating margin, and adjusted EPS are non -GAAP measures. See the Appendix to this presentation for a reconciliation to the nearest GAAP measure
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4 Q2-26 Revenue Highlights • Filtration: Slight growth • Chromatography: Low double-digits • Proteins: ~50% growth • Process Analytics: >30% growth • Consumable revenue grew high-teens • As expected, Q2 capital equipment revenue muted (1H: +HSDs); sequential orders increased significantly • APAC/ROW: Increased ~40%, North America: increased high-teens, Europe: declined MSDs Note: all figures are reported year-over-year growth % Q2-26 Revenue • Reported growth: +12%, Organic1: +13% • ~1 point headwind from Polymem divestiture, slight Fx headwind (1) Organic revenue growth is a non-GAAP measure. See the Appendix to this presentation for a reconciliation to the nearest GAAP measure $182M $204M Q2-25 Q2-26
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5 Q2-26 Financial Highlights Q2 – 26 Adjusted Operating Income1 • Adj. operating margins of 16.7%, +460 bps YoY • Increase driven by OpEx discipline and 280 bps of adj. gross margin expansion due to volume leverage, pricing and favorable mix Q2 – 26 Adjusted EPS1 • Adjusted EPS grew 46% YoY driven by solid operating margin expansion • $5.2M of adjusted other income • 21.5% adjusted effective tax rate (1) Adjusted operating income, adjusted gross margin, adjusted operating margin, adjusted EPS, adjusted other income and the adjusted effective tax rate are non-GAAP measures. See the Appendix to this presentation for a reconciliation to the nearest GAAP measure $22M $34M Q2-25 Q2-26 $0.37 $0.54 Q2-25 Q2-26
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6 2026 Financial Guidance Highlights Updated FY26 Guidance assumes: • Strong 1H results allow us to increase both organic growth and adj. EPS guidance • Guidance assumes ~1 pt headwind from M&A (Polymem divestiture) and <50 bps tailwind from foreign currency • Adjusted operating income and margin guidance increased due to strong 1H performance Q3-26 Considerations: • Expect Q3 dollar revenues to increase slightly sequentially … ~1.5 pt headwind to reported growth from Polymem divestiture and Fx • As highlighted last quarter, expect Q3-26 to be FY26 low point for gross margins • Expect sequential OpEx increase driven by normalized spending and 2H investments to support 2027 growth See the Appendix to this presentation for additional information. Our financial guidance for the full year 2026 is based on expectations for our existing business. Our adjusted (non -GAAP) guidance excludes the impact of any potential or pending business acquisitions in 2026, and future fluctuations in foreign currency ex change rates. FY26 Adjusted Financial Guidance (non-GAAP) Current Prior July 28, 2026 May 5, 2026 Revenue $813M to $835M $803M to $833M Reported Growth 10% - 13% 9% - 13% Organic Growth 10.5% - 13.5% 9% - 13% Gross Margin 53.7% to 54.2% 53.7% to 54.2% Operating Income $128M to $134M $124M to $132M Operating Margin 15.7% to 16.0% 15.4% to 15.8% Other Income (Expense) ~$19M ~$19M Adj. EBITDA Margin 20.6% to 21.0% 20.3% to 20.8% Tax Rate on Pre-Tax Inc. ~22% 22% to 23% Net Income $115.5M to $118.5M $111.5M to $116.5M EPS (Fully-Diluted) $2.03 to $2.09 $1.97 to $2.05
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7 Appendix Non-GAAP Measures of Financial Performance To supplement our financial statements, which are presented on the basis of U.S. generally accepted accounting principles (“GAAP”), the following Adjusted (“non- GAAP”) measures of financial performance are included in this release: organic revenue and organic revenue growth; adjusted gross profit and adjusted gross margin; adjusted income from operations and adjusted operating margin; organic adjusted operating margin year-over-year change; adjusted net income and adjusted net income margin; adjusted earnings per share (diluted); adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), and adjusted EBITDA margin. The Company provides the impact of foreign currency translation, to enable determination of revenue and margin growth rates at constant currency. To calculate the impact of foreign currency translation, the Company converts the reported amounts from local currency to U.S. dollars using constant foreign currency exchange rates in the current and prior year periods. The Company’s non-GAAP financial results and/or non-GAAP guidance exclude the impact of: acquisition, integration and divestiture costs; restructuring charges including the costs of severance and accelerated depreciation among other non-cash charges; inventory step-up costs and adjustments; transformation costs including incremental, non-recurring expenses for discrete strategic projects that are designed to deliver long-term benefits, including improvements to enhance productivity and enable company growth that do not meet the definition of restructuring; contingent consideration related to the Company’s acquisitions; intangible amortization costs; non-cash interest expense related to the accretion of the debt discount; amortization of debt issuance costs related to Company’s convertible debt; foreign currency impact of certain intercompany loans; loss on sale of business; and, the related impact on tax of non-GAAP charges. These costs are excluded because management believes that such expenses do not have a direct correlation to future business operations, nor do the resulting charges recorded accurately reflect the performance of our ongoing operations for the period in which such charges are recorded. Additionally, for a project to be considered transformational, the project expenses are expected to bring long-term growth, profitability improvements and defined process and technology improvements. Our transformation initiative is multi-year but each project has a discrete, defined timeline. Further, organic adjusted operating margin year-over- year change excludes the effect of adjustments above, as well as the impact of mergers, acquisitions and divestitures and foreign exchange. This measure is used by the Company in periods of acquisition because the timing, size and number of such transactions and their related impact on the financial statements may vary and make comparison of long-term results difficult. All reconciliations of above GAAP figures to adjusted (non-GAAP) figures are detailed in the tables included later in this press release. Certain prior year amounts have been reclassified to conform with the current year presentation. When analyzing the Company’s operating performance and guidance, investors should not consider non-GAAP measures as a substitute for the comparable financial measures prepared in accordance with GAAP. The Company does not provide GAAP financial measures on a forward-looking basis as the Company is unable to provide a quantitative reconciliation of forward- looking non-GAAP measures to the most directly comparable forward-looking GAAP measure, without unreasonable effort. The Company cannot reasonably predict items including, but not limited to, the timing and amount of future restructuring and cost-savings actions or transformation, acquisition and integration related costs. These items are generally uncertain and are not indicative of ongoing operations of the business, and the impact could be material to our results in accordance with GAAP.
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8 Non-GAAP Measures of Financial Performance Note: totals may not add due to rounding (1) Restructuring activities and other charges includes the costs of severance and accelerated depreciation among other non-cash charges. Charges for the three and six months ended June 30, 2026, consists of activities to simplify the global manufacturing footprint of the organization and align its workforce to support long-term company growth. (2) For the three and six months ended June 30, 2026, transformation costs include $3.8 million and $4.8 million, respectively, of expenses for discrete strategic projects that are designed to deliver long-term growth under our Transformation Office, partially offset by $0.8 million and $1.7 million, respectively, for the benefit received from the sale of inventory that had previously been reserved for as part of past restructuring plans. (3) During the three and six months ended June 30, 2026 we recorded foreign currency losses on certain intercompany loans of $0.6 million and $1.5 million, respectively. This is recorded in other (expense), net within the condensed consolidated statements of operations. (4) Includes other expenses that are non-indicative of our ongoing performance Reconciliation of Net Income (GAAP) to adjusted and Diluted EPS (GAAP) to adjusted – Detailed view $ amounts in thousands, except per share amounts
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9 Non-GAAP Measures of Financial Performance Note: totals may not add due to rounding Reconciliation of total revenue (GAAP) growth to organic revenue growth (non-GAAP)