BIOCON

Biocon Limited 20th KM, Hosur Road Electronic City Bangalore 560 100, India T 91 80 2808 2808 F 91 80 2852 3423 CIN : L24234KA1978PLC003417 www.biocon.com November 02, 2021 To To The Secretary The Secretary BSE Limited National Stock Exchange of India Limited Department of Corporate Services Corporate Communication Department Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra Kurla Complex Dalal Street, Mumbai – 400 001 Mumbai – 400 050 Scrip Code - 532523 Scrip Symbol- BIOCON Dear Sir/Madam, Sub: Investor Presentation – Q2 FY-22. Ref: Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015. With reference to the captioned subject, please find enclosed Investor Presentation under regulation 30 of the SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015. The above information will also be available on the website of the Company at www.biocon.com. Kindly take the above said information on record. Thanking You, Yours faithfully, For Biocon Limited _______________ Mayank Verma Company Secretary and Compliance Officer Encl: Investor Presentation Safe Harbor Statement Certain statements in this release concerning our future growth prospects are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those contemplated in such forward-looking statements. Important factors that could cause actual results to differ materially from our expectations include, amongst others general economic and business conditions in India, our ability to successfully implement our strategy, our research and development efforts, our growth and expansion plans and technological changes, changes in the value of the Rupee and other currencies, changes in the Indian and international interest rates, change in laws and regulations that apply to the Indian and global biotechnology and pharmaceuticals industries, increasing competition in and the conditions of the Indian biotechnology and pharmaceuticals industries, changes in political conditions in India and changes in the foreign exchange control regulations in India. Neither the company, nor its directors and any of the affiliates have any obligation to update or otherwise revise any statements reflecting circumstances arising after this date or to reflect the occurrence of underlying events, even if the underlying assumptions do not come to fruition. 2 Biocon is a global biopharmaceutical company that is leveraging its affordable innovation model to reduce disparities in access to safe, high-quality medicines, as well as, address the gaps in scientific research to find innovative solutions to impact a billion lives. 3 The Biocon Manifesto accessibility affordability • Use our science, scale and • Focus on the kind of expertise to enhance access to innovation that adds the As a committed essential drugs for patients on condition of affordability to the lowest rung of the accessibility stakeholder of the economic ladder • Bring competition for global health • Uncover new medical insights expensive innovator agenda under the aimed at expanding the scope medicines through our of therapy to address unmet generics and biosimilars UN Sustainable needs Development Goals (SDGs), Biocon has availability assurance drawn up a manifesto to deliver • Build strategic global and regional • Demonstrate the highest partnerships to make high-quality levels of ethics, compliance on its commitment biopharmaceuticals available to and governance the maximum number of people to universal • Assure continuous supply of healthcare. • Create a robust portfolio of high-quality products ‘blockbuster’ drugs with the conforming to international potential to benefit a billion regulatory standards patients 4 The Biocon Journey: A Continuous Evolution 1978- 2000- 2005- 2010- 2016- 2019 & 1999 2004 2009 2015 2018 Beyond An Enzymes Transforming into Building the Base Strategic Global Commercialized Poised for Company a Biopharma Business and Alliance with Mylan Biosimilars for Global Impact Company Expertise in for Biosimilars Diabetes & Cancer with Biologics Expanded (2013) in Japan, U.S., EU Biosimilars Successful IPO, Enzymes Business Generic Global Partnership Investments in Biocon listed in Divested (2007) Formulations with Sandoz for complex India (2004) Business Unit set up Next-Gen Generic Global Development (2013) Biosimilars (2018) Formulations of Biosimilars in Partnership with IPO of Syngene Mylan (2009) (2015) Unwavering focus through the years on innovation & difficult to make, niche products to create tangible differentiators for sustainable growth 5 Biocon Today: Strategically poised for a strong global play Rs 7,360 Cr 12,000+ Revenue* Total Employees* 1,200+ 25+ Patents cGMP approvals from International regulatory agencies 120+ Ranked 5 Countries where our Among Top 10 Global products are Biotech Employers by available Science magazine *FY21 6 Growth Verticals: Aligned With Shifting Paradigms From pipeline to production, from drug discovery to drug delivery, we bring differentiated, high-quality and affordable healthcare products & services globally. Ensuring access Pushing scientific Expanding access Partnering to through quality, boundaries to through innovative, deliver innovative affordability, deliver impactful inclusive healthcare scientific solutions reliability innovations solutions 8 Generics: Investing into capacities and capabilities for the future growth Differentiated API business Growing Formulations Footprint Investments for future growth • 5 state-of-the-art facilities across Bangalore, • Oral solids (potent & non-potent), parenteral & • Expanding our R&D capabilities for Hyderabad and Visakhapatnam, India device dependent products fermentation-derived, chemical synthesis-based molecules, peptides and potent APIs • Among the world’s largest manufacturers of • Focus therapeutic segments –Metabolics, immunosuppressant & statin APIs Oncology, Immunology & Auto-immune • Focus on developing niche, difficult-to-make, indications complex molecules with relatively higher entry • Expertise in fermentation technology, large scale barriers by also leveraging our deep expertise in chromatography and synthetic chemistry • 8 Generic Formulations commercialized in the US Fermentation based APIs • Consistent track record of quality compliance • Entered into partnerships to presence in China, • Investing ₹6 B in greenfield, fermentation-based and manufacturing of high quality products with Singapore, Thailand and Brazil manufacturing facility in Visakhapatnam, India reliability and efficiency • Focus on further strengthening quality and • 1,000+ customers in 100+ countries incl. the U.S, related functions and improving efficiency Europe and large emerging markets, with a track- through digitization and other strategic record of excellence for over 20 years initiatives 50% 800+ 1000+ 280+ Global MS in orlistat API Metric ton cumulative Customers Patents Obtained & world’s leaders in weight of APIs supplied immunosuppressants annually 9 Generics: Q2 FY22 KE Y HIGHLIGHTS Q2 FY 22 Q2 FY 21 - Pricing pressure in US Revenue - Slower ramp-up of demand for APIs ₹530Cr ₹604Cr Operational and supply chain challenges in the earlier part of the quarter 12% YoY decrease - Day 1 launch of Everolimus in the US - Statins held on to market share Profit Before Tax (PBT) A Remote Interactive inspection of our OSD facility, Bengaluru, by ₹50Cr ₹70Cr the US FDA 9% of revenue 12% of revenue On track to commission greenfield Immunosuppressant API facility in Visakhapatnam in FY22 10 Novel Molecules: Pushing scientific boundaries to deliver impactful innovations Disease Area Asset Current Progress • Phase I multiple ascending dose studies in Type 1 DM patients ongoing in Germany; in Insulin Tregopil-a first-in-class oral, prandial partnership with US-based Juvenile Diabetes Research Foundation (JDRF), a leading non- Insulin profit organization Diabetes • Phase I component of this trial expected to be completed in FY22 • US based partner, Equilliumto initiate a Phase III Pivotal Study in Q4 CY21 for use in First- Line treatment of Acute Graft Versus Host Disease (aGVHD), following regulatory feedback from U.S. FDA • European Commission granted an ‘Orphan Medical Product’ designation in the treatment Itolizumab-A novel humanized CD6 antibody of Graft Versus Host disease in Jul ‘21 • Repurposed for prevention & treatment of COVID-19 complications in India in 2020; granted ‘Restricted Emergency Use’ approval in Sep ‘20 for treatment of Cytokine Release Inflammation Syndrome in ‘Moderate to Severe’ Acute Respiratory Distress Syndrome patients • Entered a Phase I/II study at leading US and Canadian cancer centers in Jul ‘20 BCA101-(formerly FmAb2, a first-in-class EGFR / • Under evaluation, both as a single agent and in combination with the checkpoint TGFβ-trap bifunctional antibody) -part of Bicara inhibitor, Pembrolizumab, in patients with advanced EGFR-driven solid tumors, who no Therapeutics, a clinical-stage biotechnology longer respond to the standard of care Immuno-oncology company based in US* • Bicara anticipates transitioning to dose expansion studies by end of CY21 *In Q4FY21, Biocon ceded control over the Board of Directors and Operations of Bicara Therapeutics Inc. to enable it tooperate independentlyundera USbased leadership team and raise funds to advance itsdevelopment programs.Asaresultofthischange,BicarawasclassifiedasanAssociatefromaSubsidiaryunderIND-AS. 11 Novels: Q2 FY22 KE Y HIGHLIGHTS Equillium on track to initiate a Phase 3 pivotal study on Itolizumab in first-line acute GvHD* in Q4 CY21 Bicara# continues to make progress in dose finding part of the Phase 1 trial for its lead program, BCA101 *Graft-versus-host disease #In Q4FY21, Biocon ceded control over the Board of Directors and Operations of Bicara Therapeutics Inc. to enable it to operate independently under a US based leadership team and raise funds to advanceitsdevelopmentprograms.Asaresultofthischange,BicarawasclassifiedasanAssociatefromaSubsidiaryunderIND-AS. 12 Biosimilars: Fully integrated global player in an attractive market Product Status Therapeutic Areas Molecule US Dev. Markets: ex-US MoW5 Commercialized several biosimilars in Pegfilgrastim1 Europe, CANZ developed and emerging markets Trastuzumab1 Europe, CANZ Oncology Bevacizumab1 Europe, AU Robust pipeline across multiple Pertuzumab1 therapeutic areas Adalimumab1,2 Europe, CA, Japan Immunology Etanercept1,2 Europe Received the first ‘interchangeable’ Glargine 100U1,3 Europe, ANZ, Japan biosimilar approval from US FDA (bGlargine) Glargine 300U1 Europe Diabetes Aspart1 Europe, CA Expertise in difficult-to-manufacture, RHI4 large-scale, biologics across platforms Undisclosed 7 Assets Serve patients globally through commercial Early Dev./ Clinical Filed Approved Preclinical partners and direct sales force in India6 8 2 3 25+ Forged strong local and global partnerships Approved Research & Manufacturing sites cGMP approvals e.g., Viatris, Libbs and Sandoz Products7 Development sites (2 Bengaluru, 1 Malaysia) (incl. FDA & EMA) 1 In partnership with Viatris; 2 Partner Viatris has in-licensed product (Biocon benefits from economic interest); 3 Japan is outside of Viatris partnership; 4 RHI non-partnered asset completed Ph 1 and considering potential Ph 3 waiver to be confirmed with US FDA advice, shown as Planned submission; 5 MoW represents Most of the World markets. Chart represents the status of the country where the product is in most advanced stage. Every country has a different status; 6 Branded Formulations India (BFI) is the commercial platform in India; 7Includes Adalimumab and Etanercept which have been in-licensed by Viatris and Biocon Biologics has economic interest. 13 Entering adjacencies in communicable disease: infectious disease antibodies and vaccines Key Commercial Products Recent Collaborations 50,000+ lives impacted Continued portfolio expansion 14 Key terms of alliance with SILS 1 2 3 Committed revenue Access to 100m doses of Commercialization rights stream and related vaccines annually for 15 of the SILS portfolio for margins from years global markets H2 FY23 ~15% stake in BBL at a post-money valuation of ~$4.9bn Alliance will develop antibodies targeting infectious diseases like Dengue, HIV, etc. 15 Biosimilars: Q2 FY22 KE Y HIGHLIGHTS Q2 FY 22 Q2 FY 21 Revenue Strategic alliance with Serum Institute Life Sciences (SILS) to foray into vaccines with access to 100m doses/year for 15 years ₹743Cr ₹676Cr Partnered with Adagio Therapeutics to manufacture & commercialize 10% YoY increase a novel antibody, ADG20, for prevention & treatment of COVID-19 Core EBITDA* Semglee approved as 1st interchangeable biosimilar in US; included by ₹304Cr ₹265Cr Express Scripts on the National Preferred Formulary, w.e.f. Jan 1, 2022 42% margin 39% margin Responded to the US FDA with a CAPA following their pre-approval inspection of Malaysia facility for bAspart PBT (before exceptional charge)^ Continued strong performance in emerging markets; continued ₹119Cr ₹81Cr improvement of performance in Europe - launched bBevacizumab in several EU countries 16% of revenue 12% of revenue *Core EBITDA defined as EBITDA before R&D, forex, licensing and Adagio revaluation gains ^Does not include revaluation gains from Adagio 16 Research Services (Syngene) Offering integrated research, development and manufacturing services for both small and large molecules, antibody-drug conjugates & oligonucleotidesbacked by best-in-class bioinformatic services World-class R&D and manufacturing infrastructure spread over 2 million square feet Audited successfully by US FDA, EMA, AAALAC and major life sciences partners Talented scientific and techno-commercial teams, led by experienced management, moving beyond cost arbitrage to innovation; 4700+ talented team of scientists, including ~490 PhDs 400+ active marquee clients across multiple sectors Strong track record of top-line growth with best-in-class EBITDA margins and Net Profit margin Listed in India on BSE and NSE in 2015 17 Research Services: Q2 FY22 KE Y HIGHLIGHTS Q2 FY 22 Q2 FY 21 Strong performance across all divisions Revenue ₹610Cr ₹520Cr In Discovery Services, positive demand for newer services like Protein Degradation Technology (PROTACS) & peptide synthesis 17% YoY increase Uptick in Development Services as clients restarted activities PBT (before exceptional charge) Mangalore facility on track to achieve USFDA approval within two years ₹113 Cr ₹94Cr 19% of revenue 18% of revenue Continued manufacturing of Remdesivir On track to deliver on FY22 guidance of mid-teens revenue growth 18 Annual Financial Highlights FY 21 FY 20 Biosimilars +21% | Research Services Revenue +13% ₹7,360Cr ₹6,462Cr +9% | Generics +6% Core EBITDA1 +15% ₹2,430Cr ₹2,108Cr Forex loss of ₹9Cr in FY21 vs ₹65Cr of Forex gain in FY20 % margin 33% 33% Gross R&D spends at ₹627Cr in FY21 EBITDA +8% ₹1,907Cr ₹1,765Cr (13% of ex-Syngene revenues) R&D spends in P&L ₹533Cr for FY21 % margin 26% 27% Profit Before Tax2(11)% ₹1,077Cr ₹1,215Cr Excluding Bicara Fair Valuation gain of 160 Cr: % margin 15% 19% Core EBITDA 32%, dn 1% EBITDA ₹1,747Cr at 24% Net Profit # (4)% ₹754Cr ₹789Cr Net profit at ₹594Cr % margin 5% 9% 1 Core EBITDA defined as EBITDA before R&D, forex and licensing income; 2 from continued operations 20 Financial Highlights: Q2 FY22 Q2 FY 22 Q2 FY 21 Biosimilars +10% | Research Services Revenue +10% ₹1,945Cr ₹1,765Cr +17% | Generics (12)% Core EBITDA* +8% ₹609Cr ₹564Cr Forex Gain of ₹20Cr vs ₹18Cr of loss in Q2 FY21 % margin 33% 32% Gross R&D spend at ₹165Cr – Similar to EBITDA +35% ₹551Cr ₹407Cr Q2 FY21 % margin R&D spend in P&L ₹146Cr 28% 23% Profit Before Tax +27% ₹276Cr ₹218Cr Exceptional charge of ₹70Cr (before Exceptional charge) % margin 14% 12% Net Profit 11% ₹188Cr ₹169Cr Net Profit ₹138Cr (before Exceptional charge) after exceptional charge % margin 10% 10% *Core EBITDA defined as EBITDA before R&D, forex, Adagio revaluation gains and licensing income 21 Thank You INVESTOR RELATIONS CONTACT: Aishwarya Sitharam, Biocon Limited Tel: +91 93236 48143 Email: aishwarya.sitharam@biocon.com Nikunj Mall, Biocon Biologics Limited Tel : +91 998 777 4078 Email: nikunj.mall@biocon.com 22