Slides
Page 1
© 2025 Bio-Techne®. All rights reserved. | 1 Purposeful Innovation Leads to Better Answers Kim Kelderman President & CEO © 2025 Bio-Techne®. All rights reserved. | 1 June 3, 2025
Page 2
© 2025 Bio-Techne®. All rights reserved. | 2 Safe Harbor This presentation contains “forward-looking statements” within the meaning of the federal securities laws. Except for historical information contained herein, the statements in this presentation are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements made herein relate to, among other things, future sales, earnings, return on equity, cost savings, process improvements, free cash flow, share repurchases, capital expenditures, acquisitions, benefits of investments and partnerships, business strategies, financial results and other matters. Such statements can be identified by words such as: “expected,” “expects,” “expect,” “forecast,” “would,” “estimate,” “will,” or similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Actual results could differ materially from those stated or implied in the forward-looking statements. For a list of factors, risks and uncertainties which could make our actual results differ from expected results, please see our latest Annual Report on Form 10-K. We undertake no obligation to update any forward- looking statement, whether written or oral, as a result of new information, future developments or otherwise. This presentation also contains non-GAAP financial information. Management uses this information in its internal analysis of results and believes this information may be informative to investors in gauging the quality of our financial performance, identifying trends in our results and providing meaningful period-to-period comparisons. For definitions of applicable non-GAAP financial measures and reconciliations of non-GAAP financial information to GAAP financial information, see the Reconciliations of GAAP to Non- GAAP Financial Measures included in the Company’s financial reports on Forms 10-Q and 10-K and related press releases. C A U T I O N A R Y S T A T E M E N T S
Page 3
© 2025 Bio-Techne®. All rights reserved. | 3
Page 4
© 2025 Bio-Techne®. All rights reserved. | 4 48 - Y E A R L E A D E R I N P R O T E O M I C S Headquarters Minneapolis, MN Number of Employees ~3,100 Worldwide Locations 34 FY2024 Revenues ~$1.2B NASDAQ TECH Market Cap ~$8B President & CEO Kim Kelderman Instruments 9% Services 9% Consumables 80% Royalties 2% $1.2B Proteins Antibodies Immunoassays Precision Diagnostic Tools Spatial Biology Proteomic Analytical Instruments Our Segments and Product Portfolio Protein Sciences: Diagnostics & Spatial Biology: Cell Therapy Diagnostic Reagents & Controls FY2024 Revenues Differentiated Portfolio Serving High-Growth Markets Instrument specific consumables 11%
Page 5
© 2025 Bio-Techne®. All rights reserved. | 5 Pharma/ Biotech 50% Distributors 12% Diagnostics 17% Academia 21% EMEA 25% China 9% APAC 6% Americas 60% Segments & Product End Markets Markets FY24 Revenue Breakdown ($1.2B) Diagnostics & Spatial Biology Segment Protein Sciences Segment Precision Diagnostic Tools Core Diagnostic Controls*Core RUO Reagents & Assays* Proteomic Analytical Instruments Cell Therapy (GMP) 72% Spatial Biology 28% Geographies 42% 24%6% 10% 6% 12% *Core portfolio includes RUO Reagents, Assays & Diagnostic Controls (42% + 12% = 54%)
Page 6
© 2025 Bio-Techne®. All rights reserved. | 6 Foundation For Our Success Durable and differentiated product portfolio Balanced exposure to established and emerging applications across high-growth end-markets Portfolio leverage from leading protein & antibody content and capabilities Strong reputation and loyal customer base valuing quality and reliability Innovation to unlock high-growth opportunities Lean, nimble and diverse global organization Culture of ownership and accountability
Page 7
Healthy Aging AI-enabled Innovation Novel Therapeutic Approaches Multiomic Insight Generation M E G A T R E N D S Proteomic Interrogation at Scale Precision Medicine Discovery of Novel Biological Insights Development and Manufacturing of Advanced Therapeutics Enablement of Precision Diagnostics Strategic Growth Vectors: 1 2 3 © 2025 Bio-Techne®. All rights reserved. | 7 Our Growth Vectors Capitalize on Megatrends
Page 8
© 2025 Bio-Techne®. All rights reserved. | 8 Diagnostic Reagents & Controls Proteins Antibodies Immunoassays Precision Diagnostic Tools Spatial Biology Proteomic Analytical Instruments Product Portfolio Protein Sciences Diagnostics & Spatial Biology Cell Therapy In Critical Applications Across the Strategic Growth Vectors Diagnostic Reagents & Controls Proteins & Small Molecules Antibodies Immunoassays Molecular Dx kits Spatial Biology Proteomic Analytical Instruments Discovery of Novel Biological Insights Enablement of Precision Diagnostics Development and Manufacturing of Advanced Therapeutics Our Strategic Growth Vectors GMP Reagents & Media Wilson-Wolf G-Rex® Proteomic Analytical Instruments Spatial Biology & COMET™ Spatial Biology Proteins Antibodies Enabling Proteomic Dx Apps. 1 2 3 Differentiated Product Portfolio Creates Leverage
Page 9
© 2025 Bio-Techne®. All rights reserved. | 9Collectively these Innovations Strengthen each Strategic Growth Vector Discovery of Novel Biological Insights Leo™ Next-generation, high-throughput, fully automated Western Blot system Pipeline of hyperactive, patentable, proteins and antibodies Multiomic (RNA and protein) visualization capabilities on COMET™ Leo™ Instrument AI Designed Reagents Multiomic Spatial Biology Platform COMET™ RNAscope™ Antibodies Development & Manufacturing of Advanced Therapeutics GMP proteins optimized for closed manufacturing of cell therapies in the Wilson Wolf G-Rex® bioreactor ProPak™ GMP Reagents Wilson Wolf G-Rex® Exosome-based kit for detection of ESR1 mutations in breast cancer ESR1 Kit ESR1 Kit + Carrier Screening Kit Enablement of Precision Diagnostics 1 2 3 Innovation Milestones in Our Growth Vectors ProPak™ Reagents
Page 10
© 2025 Bio-Techne®. All rights reserved. | 10 714 1,137 1,159 853 903 244 410 370 268 282 Revenue ($M) Adj. Operating Income ($M) 12% CAGR 14% CAGR +5% Driving Growth Despite Market Volatility +6% OG +1% OG -10% FY19 FY23 FY24 Q1-Q3 FY24 Q1-Q3 FY25 FY19 FY23 FY24 Q1-Q3 FY24 Q1-Q3 FY25
Page 11
© 2025 Bio-Techne®. All rights reserved. | 11 Development & Manufacturing of Advanced Therapeutics Discovery of Novel Biological Insights Enablement of Precision Diagnostics • Analytical platforms • Product tuck-ins, applications expansions • Targeted innovation capabilities • Opportunistic expansion M&A PrioritiesGrowth Vectors Opportunistic Expansion Into Attractive New Markets • Cell therapy workflow components and solutions • Bioanalytical solutions • Opportunistic expansion • Select innovation platforms • Opportunistic tuck-ins 1 2 3 Strong Programmatic M&A Runway + 3 2 1
Page 12
© 2025 Bio-Techne®. All rights reserved. | 12 Cell Therapy Portfolio Serves Critical Applications Within $28B Market Proteomic Analytics Spatial Biology Precision Dx Tools Core Products D I A G N O S T I C S & S P A T I A L B I O L O G Y S E G M E N T Research Reagents, Assays & Dx Controls P R O T E I N S C I E N C E S S E G M E N T Market Growth Rate Market Size Historic 5-yr Bio-Techne CAGR Market Growth Rate Market Size Historic 5-yr Bio-Techne CAGR Market Growth Rate Market Size Historic 5-yr Bio-Techne CAGR Market Growth Rate Market Size Historic 5-yr Bio-Techne CAGR Market Growth Rate Market Size Historic 5-yr Bio-Techne CAGR Positioned for Sustainable Above Market Growth
Page 13
© 2025 Bio-Techne®. All rights reserved. | 13 43% female supervisor & above globally Diverse and Inclusive workplace Our People Advancing Science 11 active Employee Resource Groups (ERGs) The Environment Sustainable packaging: plastic to paperboard 100+ employees participated in Earth Month Clean-up events globally 2023: 9.53 kg C02e per sq. ft Scope 1 and 2 emissions intensity: 9.85 kg C02e per sq. ft2022: P U B L I S H E D O U R F O U R T H C O R P O R A T E S U S T A I N A B I L I T Y R E P O R T Governance & Operational Integrity Board of Directors Top Level Oversight Sustainability Oversight Council General Counsel, CEO, Executive Team Sustainability Working Group Senior Leaders within Operations, Quality, Finance, Accounting, Human Resources, Investor Relations, & Legal EcoVadis Bronze Medal Signatory to the UN Global Compact Commitment to the Science Based Targets Initiative ~800 new products in 2024 ~8% of revenue invested in R&D We are Committed to a Sustainable Future
Page 14
© 2025 Bio-Techne®. All rights reserved. | 14 Together, we unlock the possibilities of science Key Takeaways The shown Megatrends create a flywheel for our three Strategic Growth Vectors Our differentiated proteomic core portfolio provides leverage across these Strategic Growth Vectors We have a strong innovation and M&A pipeline to expand portfolio and market positions And we enjoy a durable position in critical applications across a $28B market opportunity, enabling sustainable and above market financial performance: • Organic revenue growth +500-1,000 bps. above market • Adjusted operating margin of 35%-40% • High-teens CAGR for adjusted EPS © 2025 Bio-Techne®. All rights reserved. | 14
Page 15
© 2025 Bio-Techne®. All rights reserved. | 15