Cohance Lifesciences Limited

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To The Manager Department of Corporate Services BSE Limited 25th Floor, P. J. Towers, Dalal Street, Mumbai - 400 001 To The Manager Listing Department National Stock Exchange of Ind

INR 8500

structured organization upgrade program focused on five capability pillars to support its 2030 $1B (INR 8500B) vision: • Technical & Capability Expansion: Enhancing expertise across high-potent synthesis, p

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: NJ Bio has seen project shipments pushed by 2-3 quarters due to extended CMC timelines from partners 5 Mid- to Long-Term Growth Drivers: Given the lumpy nature of the business, we are focused on Input Me

4%

de-bottlenecking capacity Business & Financial Performance (1HFY26)  CDMO: reported a decline of 4%YoY primarily driven by impact of de-stocking in two commercial molecules and delays in some Phase 2

84%

ormalise the order shipments  Specialty Chemicals (Agro + Performance Chem): reported a growth of 84% YoY o Ag Chem: • Continuing to see macro recovery with more to come • Sustained focused on bo

INR 85

more informed guidance by Q3/Q4 FY26  Longer Term: Maintained our mid-longer guidance of US$1bn (INR 85bn) with mid 30’s EBITDA margins given investments and building blocks of the business. We believe

17%

ts, now working with 20 of the top 20 global innovators  Niche technologies revenue share crossed 17% in 1HFY26 vs mid-teens in FY25; tracking to low-20s in FY26 Pharma CDMO Advancements  Continued

14%

ng post-merger under the unified Cohance Lifesciences platform.  The platform revenue growth was 14%YoY, adjusting for the large two commercial products de-stocking  Pharma CDMO reported a declin

8%

adjusting for the large two commercial products de-stocking  Pharma CDMO reported a decline by 8% YoY  Niche technologies a significant contributor to CDMO growth, revenue share was at over 17%

166%

ver 17%, expected to be in low 20s by end of FY26.  Specialty Chemicals (including AgChem) posted 166% YoY growth, aided by a rebound in the AgChem cycle on a low base Q2FY26 Financial Highlights -

INR 5.56

rebound in the AgChem cycle on a low base Q2FY26 Financial Highlights -8% Revenue growth (YoY) INR 5.56 bn Total Revenue 23.2% 14% Revenue growth (YoY) excluding de-stocking INR 1.29 bn* Adjusted EB

23.2%

on a low base Q2FY26 Financial Highlights -8% Revenue growth (YoY) INR 5.56 bn Total Revenue 23.2% 14% Revenue growth (YoY) excluding de-stocking INR 1.29 bn* Adjusted EBITDA INR 0.71 bn* Adju

“Q2 FY25 consolidated figures are restated pursuant to Merger and does not include NJ BIO EBITDA(Adjusted) is after One-time adjustment for ESOP, Merger and acquisition costs of Rs.”

“We anticipate 2 more products to receive approval over coming 8-12 months.”

“o Business expansion: targeting 10 DMFs filing in FY26 across US and Europe.”

“1) 2) 3) 4) 5) 6) FY24 Numbers are Pro-forma numbers for merged entity Q2 FY25 , 1HFY25 and FY25 consolidated figures are restated pursuant to Merger and FY25 includes consolidation of Sapala and NJ BIO.”

“54 mn in Q2 FY26 Vs Rs.80 mn in Q2 FY25 and Rs.225 Mn in H1 FY26 Vs Rs.161 Mn in 1HFY25 Exceptional item for 1HFY26 Rs.81 Mn represents one-time restructuring costs incurred due to merger of the Company with erstwhile Cohance Lifesciences Limited.”

“Exceptional item for FY25 represents compounding fees imposed by the Reserve Bank of India on the erstwhile Cohance Lifesciences Limited.”

“These will be revised once the consolidated ESG report is published and SBTi targets for the merged entity are approved.”

Note

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Ag Chem

1

Note

1. 2. 3. 4. 5. 1HFY25 consolidated figures are restated pursuant to Merger and does not include NJ BIO EBITDA(Adjusted) is after One-time adjustment for ESOP, Merger and acquisition costs of Rs.225 Mn in 1HFY26 Vs Rs.161 Mn in 1HFY25 Exceptional item for 1HFY26 Rs.81 Mn represents one-time restructuring costs incurred due to merger of the Company with erstwhile Cohance Lifesciences Limited PAT (Adjusted)is after One-time adjustment for ESOP, Merger and acquisition costs (Net of tax) PAT(Reported) is after considering Loss attributable to NCI Rs.102 Mn in 1HFY26 Vs Rs.2 Mn in 1HFY25 for Sapala& NJ Bio 12 INR mn Particulars Revenue from Operations Material costs / COGS Material Margin Material Margin % Manufacturing Expenses Employee Cost Other Expenses Total Expenses EBIDTA (Reported) EBIDTA (Reported) % FX MTM gain Onetime expenses EBIDTA (Adjusted) EBIDTA (Adjusted) % Depreciation & Amortization Finance costs Other income PBT (Adjusted before exceptional items) Exceptional Items Adjus

Note

1. 2. 3. 4. Q2 FY25 consolidated figures are restated pursuant to Merger and does not include NJ BIO EBITDA(Adjusted) is after One-time adjustment for ESOP, Merger and acquisition costs of Rs. 54 mn in Q2 FY26 Vs Rs.80 mn in Q2 FY25 PAT(Adjusted) is after One-time adjustment for ESOP, Merger and acquisition costs (Net of tax) PAT(Reported) is after consideringr Loss attributable to NCI Rs.77 Mn in Q2FY26 Vs Rs.2 Mn in Q2FY25 for Sapala & NJ Bio 13 Consolidated Financials Operational Revenue (INR mn) 10,918 11,049 20% adjusting for de-stocking 1HFY25 1HFY26 Pharma CDMO (INR mn) 4,515 4,345 Adjusted EBITDA (INR mn) Margin (%) Adjusted PAT (INR mn) Margin (%) 32.3% 3,529 1HFY25 23.8% 2,630 1HFY26 20.7% 2,258 1HFY25 11.8% 1,302 1HFY26 Agri & Spec Chem (INR mn) API+ (INR mn) 1,207 5,746 5,497 657 1HFY25 1HFY26 1HFY25 1HFY26 1HFY25 1HFY26 Due to the lumpy nature of the CDMO Industry, Quarterly comparisons are not reflective of consistent performance

Note

1. 2. 3. Segment revenue‘s are Restated Adjusted EBITDA is after One-time adjustment for ESOP, Merger and acquisition costs of Rs.225 Mn in H1 FY26 Vs Rs.161 Mn in H1 FY25 Adjusted PAT is after One-time adjustment for ESOP, Merger and acquisition costs (Net of tax) 14 Adjusted EBITDA (INR mn) Margin (%) Adjusted PAT (INR mn) Margin (%) Consolidated Financials Operational Revenue (INR mn) 6,038 5,556 14% adjusting for de-stocking Q2FY25 Q2FY26 35.8% 2,163 Q2FY25 23.2% 1,289 Q2FY26 Pharma CDMO (INR mn) Agri & Spec Chem (INR mn) 2,500 2,310 702 264 23.9% 1,444 Q2FY25 3,273 12.8% 710 Q2FY26 2,543 API+ (INR mn) Q2FY25 Q2FY26 Q2FY25 Q2FY26 Q2FY25 Q2FY26 Due to the lumpy nature of the CDMO Industry, Quarterly comparisons are not reflective of consistent performance

Note

1. 2. 3. Segment revenue‘s are Restated. Adjusted EBITDA is after One-time adjustment for ESOP, Merger and acquisition costs of Rs. 54 mn in Q2 FY26 Vs Rs.80 mn in Q2 FY25 Adjusted PAT is after One-time adjustment for ESOP, Merger and acquisition costs (Net of tax) 15 TALENT AND CAPABILITY EXPANSION 16 Expanded and strengthened Business Development, Quality & R&D functions R&D function bolstered with large number of PhD additions Onboarded Plant Heads & Regional Business Managers Executive Chairman CDMO API+ SpecChem Operations R&D Operations Operations R&D R&D Commercial Commercial Commercial Subsidiaries Sapala NJBio Operations Operations R&D R&D Commercial Commercial SHARED SERVICES BUSINESS PARTNERS QUALITY SCM ESG M&A Strategy HR FINANCE All CXO positions in place Most new hires from leading Indian pharma companies Established processes and systems to optimize decision making and opportunity identification 17 Celebrating Transformation and Building Connections at CPHI CDMO: 70+ me

Ag Chem

o Improving visibility in line with prior period commentary o Active engagement with existing Partner and new Partners in Japan and EU o Positive traction in moving up in the value chain to AIs RFPs o 4 new potential projects with AgChem Innovators from EU and Japan o Due to excess capacity in China & extended generics pressure; cost leadership would be key to win in this space Performance Chem – OLED & Photochromatic coatings application o Relationships with Originators in Electronic Chemicals & Photochromatic coatings o Successfully delivered innovator projects from gram to multi kilo scale o Amongst India’s leading manufacturers of high purity electronic chemicals o Highly backward integrated; Specialty Chemicals showing consistent engagement o Initiatives in progress to offer similar electronic chemical solution to other Innovators in this space 33 API+ 34 Expand product validations • 10 filings planned in FY26; 5 formulation launches this year – further strengthening backward inte

Note

1) 2) 3) 4) 5) 6) FY24 Numbers are Pro-forma numbers for merged entity Q2 FY25 , 1HFY25 and FY25 consolidated figures are restated pursuant to Merger and FY25 includes consolidation of Sapala and NJ BIO. Adjusted EBITDA is after One-time adjustment for ESOP, Merger and acquisition costs of Rs. 54 mn in Q2 FY26 Vs Rs.80 mn in Q2 FY25 and Rs.225 Mn in H1 FY26 Vs Rs.161 Mn in 1HFY25 Exceptional item for 1HFY26 Rs.81 Mn represents one-time restructuring costs incurred due to merger of the Company with erstwhile Cohance Lifesciences Limited. Exceptional item for FY25 represents compounding fees imposed by the Reserve Bank of India on the erstwhile Cohance Lifesciences Limited. Adjusted PAT is after One-time adjustment for ESOP, Merger and acquisition costs (Net of tax) Loss attributable to NCI in for Sapala& NJ Bio is of Rs.77 Mn in Q2FY26 Vs Rs.2 Mn in Q2FY25 and Rs.102 Mn in 1HFY26 Vs Rs.2 Mn in 1HFY25 . 38 INR mn Balance Sheet Snapshot1 Property, plant and equipment (PPE) 3 Right of use