Biocon Limited

rs,

5, 2022 To, The Secretary BSE Limited Department of Corporate Services Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001 Scrip Code - 532523 Dear Sir/Madam, To, The Secretary National

68%

vals On closing of the Viatris and Serum transactions, Biocon’s stake in Biocon Biologics will be 68% B I O C O N L I M I T E D B I O C O N L I M I T E D B I O C O N L I M I T E D 10 10 Preparing fo

23%

C O N L I M I T E D 12 12 12 Financial Highlights: Q2 FY23 Q 2 F Y 2 3 Q 2 F Y 2 2 Revenue +23% ₹2,384 Cr ₹1,945 Cr Biosimilars +34% | Research +26% | Generics +18% Core EBITDA* +34% ₹816 C

₹2,384

N L I M I T E D 12 12 12 Financial Highlights: Q2 FY23 Q 2 F Y 2 3 Q 2 F Y 2 2 Revenue +23% ₹2,384 Cr ₹1,945 Cr Biosimilars +34% | Research +26% | Generics +18% Core EBITDA* +34% ₹816 Cr ₹609 C

₹1,945

E D 12 12 12 Financial Highlights: Q2 FY23 Q 2 F Y 2 3 Q 2 F Y 2 2 Revenue +23% ₹2,384 Cr ₹1,945 Cr Biosimilars +34% | Research +26% | Generics +18% Core EBITDA* +34% ₹816 Cr ₹609 Cr Adjusted

34%

al Highlights: Q2 FY23 Q 2 F Y 2 3 Q 2 F Y 2 2 Revenue +23% ₹2,384 Cr ₹1,945 Cr Biosimilars +34% | Research +26% | Generics +18% Core EBITDA* +34% ₹816 Cr ₹609 Cr Adjusted for: Dilution gain

26%

2 FY23 Q 2 F Y 2 3 Q 2 F Y 2 2 Revenue +23% ₹2,384 Cr ₹1,945 Cr Biosimilars +34% | Research +26% | Generics +18% Core EBITDA* +34% ₹816 Cr ₹609 Cr Adjusted for: Dilution gain Bicara of ₹33 C

18%

2 3 Q 2 F Y 2 2 Revenue +23% ₹2,384 Cr ₹1,945 Cr Biosimilars +34% | Research +26% | Generics +18% Core EBITDA* +34% ₹816 Cr ₹609 Cr Adjusted for: Dilution gain Bicara of ₹33 Cr in Q2 FY23 Ada

₹816

+23% ₹2,384 Cr ₹1,945 Cr Biosimilars +34% | Research +26% | Generics +18% Core EBITDA* +34% ₹816 Cr ₹609 Cr Adjusted for: Dilution gain Bicara of ₹33 Cr in Q2 FY23 Adagio MTM gain ₹55 Cr gain in

₹609

2,384 Cr ₹1,945 Cr Biosimilars +34% | Research +26% | Generics +18% Core EBITDA* +34% ₹816 Cr ₹609 Cr Adjusted for: Dilution gain Bicara of ₹33 Cr in Q2 FY23 Adagio MTM gain ₹55 Cr gain in Q2 FY22

₹33

+26% | Generics +18% Core EBITDA* +34% ₹816 Cr ₹609 Cr Adjusted for: Dilution gain Bicara of ₹33 Cr in Q2 FY23 Adagio MTM gain ₹55 Cr gain in Q2 FY22 % margin EBITDA % margin 35% 33% -3% ₹53

₹55

* +34% ₹816 Cr ₹609 Cr Adjusted for: Dilution gain Bicara of ₹33 Cr in Q2 FY23 Adagio MTM gain ₹55 Cr gain in Q2 FY22 % margin EBITDA % margin 35% 33% -3% ₹535 Cr ₹551 Cr 22% 28% Gross R&D

Adjusted for

1

Adjusted for

Dilution gain Bicara of ₹33 Cr in Q2 FY23 Adagio MTM gain ₹55 Cr gain in Q2 FY22 % margin EBITDA % margin 35% 33% -3% ₹535 Cr ₹551 Cr 22% 28% Gross R&D spend at ₹252 Cr, up ₹86 Cr R&D spend in P&L ₹242 Cr, up ₹96 Cr Forex Loss of ₹82 Cr vs gain of ₹20 Cr in Q2 FY22 Profit Before Tax (before exceptional charge) % margin Net Profit (before exceptional charge) % margin -11% ₹246 Cr ₹276 Cr 10% 14% -10% ₹168 Cr ₹188 Cr 7% 10% * Core EBITDA defined as EBITDA before forex, dilution gain in Bicara, R&D, licensing income and mark to market gain on investments B I O C O N L I M I T E D B I O C O N L I M I T E D B I O C O N L I M I T E D 13 13 Exceptional Items: Q2 FY23 Q 2 F Y 2 3 Q 2 F Y 2 2 Net Profit (before exceptional charge) ₹168 Cr ₹188 Cr Exceptional Items ₹122 Cr ₹50 Cr Exceptional items during Q2 FY23: • MAT credit balance charge of ₹107 Crores on adoption of new tax regime of 25%. This move helps Biocon reduce tax outflow and P&L charge on a go-forward basis. • Professional fees, net