#1Q3 2023 Earnings SUPPLEMENTAL DISCLOSURES & NON-GAAP RECONCILIATIONS October 27, 2023 Navantor™ AVTR LISTED NYSE#2Use of Non-GAAP Financial Measures To evaluate our performance, we monitor a number of key indicators. As appropriate, we supplement our results of operations determined in accordance with U.S. generally accepted accounting principles ("GAAP") with certain non-GAAP financial measurements that we believe are useful to investors, creditors and others in assessing our performance. These measures should not be considered in isolation or as a substitute for reported GAAP results because they may include or exclude certain items as compared to similar GAAP-based measures, and such measures may not be comparable to similarly titled measures reported by other companies. Rather, these measures should be considered as an additional way of viewing aspects of our operations that provide a more complete understanding of our business. We strongly encourage investors to review our consolidated financial statements included in reports filed with the SEC in their entirety and not rely solely on any one, single financial measurement or communication. The non-GAAP financial measures used in our earning presentation and in this supplemental disclosure package are sales growth (decline) on an organic basis, sales growth (decline) on a core organic basis, adjusted gross profit, adjusted SG&A expense, Adjusted EBITDA, adjusted net income, adjusted EPS, adjusted net leverage and free cash flow. • . ● • Sales growth (decline) on an organic basis eliminates from our reported net sales growth (decline) the impacts of earnings from any acquired or disposed businesses that have been owned for less than 1 year and changes in foreign currency exchange rates. Sales growth (decline) on a core organic basis eliminates from our organic growth (decline) the impacts of any COVID-19 related net sales. We believe that these measurements are useful a way to measure and evaluate our underlying commercial operating performance consistently across our segments and the periods presented. Adjusted Gross Profit eliminates from reported gross profit the impacts of certain non-cash purchase accounting adjustments to record inventory from recent acquisitions at fair value and one-time Masterflex integration expenses. We believe this measurement is useful as a way to analyze the underlying profitability of our business consistently across the periods presented. Adjusted SG&A expense eliminates from selling, general & administrative expense the impact of amortization, acquisition and integration related expenses, purchase accounting adjustments, other stock-based compensation expense, restructuring & severance charges, and impairment charges. We believe this measurement is a useful way to analyze our expenses consistently across periods. Adjusted EBITDA is to measure and evaluate our operating performance exclusive of interest expense, income tax expense, depreciation, amortization and certain other adjustments. We believe that this measurement is useful as a way to analyze the underlying trends in our business consistently across the periods presented. Adjusted net income is our net income or loss first adjusted for the following items: (i) amortization of acquired intangible assets, (ii) net foreign currency remeasurement gains or losses relating to financing activities, (iii) losses on extinguishment of debt, (iv) charges associated with the impairment of certain assets, (v) other costs or credits that are either isolated or cannot be expected to recur with any regularity or predictability. From this amount, we then add or subtract an assumed incremental income tax impact on the above noted pre-tax adjustments, using estimated tax rates, to arrive at Adjusted Net Income. We believe that this measurement is useful as a way to analyze the business consistently across the periods presented. 4. 5. 6. 7. 8. 9. Adjusted EPS is our adjusted net income divided by our diluted GAAP weighted average share count adjusted for anti-dilutive instruments. Prior to the first quarter of 2022, Adjusted EPS was our adjusted net income divided by the normalized shares outstanding. The normalized shares outstanding reflected for all periods (i) the total number of shares of common stock outstanding following our initial public offering, plus (ii) the dilutive effect of the assumed exercise or conversion of instruments (including our 6.250% Series A mandatory convertible preferred stock assuming the lowest rate of conversion into common stock). We believe that this measurement is an additional way to analyze the underlying trends in our business consistently across the periods presented. Adjusted net leverage is equal to our gross debt, reduced by our cash and cash equivalents, divided by our trailing 12-month Adjusted EBITDA (excluding stock-based compensation expense and including the expected run-rate effect of cost synergies and the incremental results of completed acquisitions as if those acquisitions had occurred on the first day of the trailing 12-month period). We believe that this measurement is a useful way to evaluate and measure the Company's capital allocation strategies and the underlying trends in the business. Free cash flow is equal to our cash flow from operating activities, excluding acquisition-related costs paid in the period, less capital expenditures. We believe that this measurement is useful as it provides a view on the Company's ability to generate cash for use in financing or investment activities. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are included in this supplemental disclosures package. Note the following footnotes are applicable on page 4 through page 12. Also note that subtotals throughout the package may not tie due to rounding. 1. Represents the amortization of the purchase accounting adjustment to record inventory acquired from Masterflex and Ritter at fair value for disclosures through 3Q22. For 4Q22, disclosure represents adjustments for one-time Masterflex integration expenses. 2. Represents legal, accounting, investment banking and consulting fees incurred related to the acquisition of acquired companies. 3. Represents non-recurring direct costs incurred with third parties and the accrual of a long-term retention incentive to integrate acquired companies. These expenses represent incremental costs and are unrelated to normal operations of our business. Integration expenses are incurred over a pre-defined integration period specific to each acquisition. Represents the non-cash reduction of contingent consideration related to the Ritter acquisition. Reflects the incremental expenses incurred in the period related to initiatives to increase profitability and productivity. Typical costs included in this caption are employee severance, site-related exit costs, and contract termination costs. Represents charges and legal costs in connection with certain litigation and other contingencies that are unrelated to our core operations and not reflective of on-going business and operating results. Related to impairment of Ritter asset group Related to the disgorgement of disallowed trading profits from Goldman Sachs, which was a related party until December 31, 2020. Represents the non-cash reduction of contingent consideration related to the Ritter acquisition and the amortization of the purchase accounting adjustment to record inventory acquired from Masterflex and Ritter at fair value. Navantor™ 2#31 Core Organic Growth & Adjusted EBITDA (Quarterly) Core Organic Growth & Adjusted EBITDA (Annual) Regional Core Organic Growth & Adjusted EBITDA (Quarterly) Regional Core Organic Growth & Adjusted EBITDA (Annual) Net Income, Adj. EBITDA, Adj. Net Leverage, FCF (Quarterly) Net Income, Adj. EBITDA, Adj. Net Leverage, FCF (Annual) Adjusted EPS (Quarterly) 8 Adjusted EPS (Annual) 2 3 4 LO 5 6 Supplemental disclosures & Non-GAAP reconciliations 7 9 10 Core organic growth trend (Quarterly) Debt update Navantor™ IN ******** 3#41 Core Organic Growth & Adjusted EBITDA (Quarterly) USD in millions Total Avantor, Global GAAP consolidated net sales Core organic growth (decline) COVID Impact Organic growth (decline) M&A Impact FX Impact Reported net sales growth (decline) GAAP gross profit Adjustments for Ritter & Masterflex¹ Adjusted gross profit (non-GAAP) GAAP SG&A expense Amortization Acquisition/Integration-related expenses? Purchase accounting adjustments Other stock-based compensation (expense) benefit Restructuring & severance charges Reserve for certain legal matters Impairment charges? Adjusted SG&A expense (non-GAAP) 2,3 Other reconciliation items Depreciation Loss on extinguishment of debt Net foreign currency loss (gain) from financing activities Total other adjustments Adjusted EBITDA (non-GAAP) Navantor™ 1Q22 $1,950 $ $130 (39) $91 117 (43) $165 1Q22 $ $690 $690 $383 (92) (4) 4 1 (2) $291 22 2 0 $24 % 7.3% -2.2% 5.1% 6.6% -2.5% 9.2% $423 % 35.4% 0.0% 35.4% 19.6% -4.7% -0.2% 0.2% 0.1% -0.1% 0.0% 0.0% 14.9% 1.1% 0.1% 0.0% 1.2% 21.7% $ $118 (75) $42 91 (81) $52 2Q22 $1,911 2Q22 $ $648 (14) $662 0 (1) % 6.4% -4.1% 2.3% 4.9% -4.4% 2.8% $281 $352 18.4% (68) -3.5% (3) -0.2% 0.0% 0.0% 0.0% 0.0% 0.0% 14.7% 22 6 1 $29 % 33.9% -0.7% 34.6% 1.1% 0.3% 0.0% 1.5% $404 21.2% 3Q22 $1,857 $ $141 (59) $82 47 (107) $22 3Q22 $ $651 % 7.8% -3.3% 4.5% 2.5% -5.8% 1.2% 35.0% 0.0% $651 35.0% 2 (1) % $375 20.2% (80) -4.3% (6) -0.3% 0.0% 0.1% 21 3 (1) $23 -0.1% 0.0% 0.0% $289 15.6% 1.1% 0.2% -0.1% 1.2% $384 20.7% 4Q22 $1,795 $ % $52 2.7% (92) -4.8% ($40) -2.1% 14 0.7% (87) -4.5% ($113) -5.9% 4Q22 $ $615 (1) $615 $363 (79) (5) 0 $279 22 2 7 $31 $360 % 34.2% 0.0% 34.3% 20.2% -4.4% -0.3% 0.0% 0.0% 0.0% 0.0% 0.0% 15.6% 1.2% 0.1% 0.4% 1.7% 20.0% 1Q23 $1,780 $ % ($35) -1.8% (93) -4.8% ($128) -6.6% 0.0% -2.1% -8.7% (42) ($170) 1Q23 $ $625 $625 $394 (78) (9) (0) (5) $302 23 2 (0) $25 % 35.1% 0.0% 35.1% 22.1% -4.4% -0.5% 0.0% 0.0% -0.3% 0.0% 0.0% 16.9% 1.3% 0.1% 0.0% 1.4% $346 19.4% 2Q23 $1,744 % $ ($124) -6.5% (50) -2.6% ($174) -9.1% 0.0% 0.4% -8.7% 8 ($167) 2Q23 $ $590 33.8% 0.0% $590 33.8% $518 (79) 1 0 (7) (1) (161) $271 24 2 (2) $24 % $343 29.7% -4.5% 0.0% 0.0% 0.0% -0.4% -0.1% -9.2% 15.5% 1.4% 0.1% -0.1% 1.4% 19.7% 3Q23 $1,720 $ % ($147) -7.9% (32) -1.7% ($178) -9.6% 0.0% 2.3% 42 ($136) -7.3% 3Q23 $ $579 33.6% 0.0% 33.6% $579 $368 (75) (0) (0) (6) (3) $284 23 2 (1) $24 $318 % 21.4% -4.4% 0.0% 0.0% 0.0% -0.4% -0.2% 0.0% 16.5% 1.3% 0.1% 0.0% 1.4% 18.5% 4#52 Core Organic Growth & Adjusted EBITDA (Annual) USD in millions Navantor™ Total Avantor, Global GAAP consolidated net sales Core organic growth (decline) COVID Impact Organic growth (decline) M&A Impact FX Impact Reported net sales growth (decline) GAAP gross profit Adjustments for Ritter & Masterflex¹ Adjusted gross profit (non-GAAP) GAAP SG&A expense Amortization Acquisition/Integration-related expenses 2,3 Purchase accounting adjustments* Other stock-based compensation (expense) benefit Restructuring & severance charges5 Reserve for certain legal matters Impairment charges' Adjusted SG&A expense (non-GAAP) Other reconciliation items Depreciation Loss on extinguishment of debt Net foreign currency loss (gain) from financing activities Receipt of disgorgement penalty Total other adjustments Adjusted EBITDA (non-GAAP) FY2020 $6,394 $ $71 266 $337 17 $353 FY2020 $ $2,080 $2,080 $1,036 88 347 $1,374 21.5% (307) (17) -4.8% -0.3% 0.0% 0.0% (1) (12) -0.2% 0.0% 0.0% 16.2% (1) % 1.2% 4.4% 5.6% 0.0% 0.2% 5.8% $434 $1,142 % 32.5% 0.0% 32.5% 1.4% 5.4% 0.0% 0.0% 6.8% 17.9% FY2021 $7,386 $ $582 138 $719 143 130 $993 FY2021 $ $2,503 33.9% (6) -0.1% $2,509 33.9% $1,531 (291) (94) % 9.1% 2.2% 11.3% 2.2% 2.0% 15.5% (3) (5) 88 12 1 (13) $89 % -1.3% 0.0% 0.0% -0.1% 0.0% 0.0% $1,138 15.4% $1,459 20.7% -3.9% 1.2% 0.2% 0.0% -0.2% 1.2% 19.7% FY2022 $7,512 $ $441 (266) $175 268 (317) $126 FY2022 $ % $2,603 34.6% (14) -0.2% $2,617 34.8% $1,473 (318) (19) 4 3 (4) $1,140 % 6.0% -3.6% 2.4% 3.6% -4.3% 1.7% 87 13 7 $107 19.6% -4.2% -0.2% 0.1% 0.0% 0.0% 0.0% 0.0% 15.2% 1.2% 0.2% 0.1% 0.0% 1.4% $1,571 20.9% FY2023 YTD $5,244 $ % ($306) -5.3% (175) ($481) -3.1% -8.4% 0.0% 0.1% -8.3% 8 ($473) FY2023 YTD % $ $1,793 $1,793 $1,280 (233) (8) (0) (18) (4) (161) $856 69 6 (2) $73 $1,007 34.2% 0.0% 34.2% 24.4% -4.4% -0.2% 0.0% 0.0% -0.3% -0.1% -3.1% 16.3% 1.3% 0.1% 0.0% 0.0% 1.4% 19.2% 5#63 Regional Core Organic Growth & Adjusted EBITDA (Quarterly) USD in millions Americas GAAP consolidated net sales Core organic growth (decline) COVID Impact Organic growth (decline) M&A Impact FX Impact Reported net sales growth (decline) Adjusted EBITDA (non-GAAP) Adjusted EBITDA margin Adjusted EBITDA margin growth (-bps) Europe GAAP consolidated net sales Core organic growth (decline) COVID Impact Organic growth (decline) M&A Impact FX Impact Reported net sales growth (decline) Adjusted EBITDA (non-GAAP) Adjusted EBITDA margin Adjusted EBITDA margin growth (~bps) AMEA GAAP consolidated net sales Core organic growth (decline) COVID Impact Organic growth (decline) M&A Impact FX Impact Reported net sales growth (decline) Adjusted EBITDA (non-GAAP) Adjusted EBITDA margin Adjusted EBITDA margin growth (-bps) Navantor™ $ $81 (19) $62 47 (1) $108 $ $41 (24) $17 52 (40) $30 $ $9 3 $12 18 (3) $27 1Q22 $1,143 $294 25.7% 140 bps % 7.8% -1.8% 6.0% 4.6% -0.1% 10.5% 1Q22 $680 % 6.3% -3.7% 2.6% 8.1% -6.1% 4.6% $143 21.1% 90 bps 1Q22 $127 % 8.6% 3.1% 11.7% 17.7% -2.8% 26.6% $29 23.1% 50 bps $ $87 (42) $45 45 (4) $87 $ $31 (33) ($2) 31 $ ($0) (1) ($2) 15 (6) 2Q22 $1,157 $290 25.1% 160 bps (71) ($42) $7 % 8.1% -3.8% 4.3% 4.2% -0.4% 8.1% 2Q22 $624 % 4.7% -4.9% -0.2% 4.6% -10.7% -6.3% $119 19.1% 50 bps 2Q22 $130 % -0.3% -1.0% -1.3% 11.8% -4.6% 5.9% $ $92 (40) $52 31 (4) $78 3Q22 $1,123 $ $17 7 $24 9 (9) $24 % 8.8% -3.9% 4.9% 2.9% -0.3% 7.5% $262 23.4% 80 bps $ $32 (26) $7 7 (93) ($80) 3Q22 $595 % 4.8% -3.8% 1.0% 1.1% -13.9% -11.8% $130 21.9% 180 bps 3Q22 $138 % 15.1% 5.7% 20.8% 7.8% -8.0% 20.6% $36 25.8% 10 bps $ $1 (45) ($44) 10 (5) ($39) 4Q22 $1,048 $ $8 $ $43 (42) $1 2 (72) ($69) (5) $3 2 (9) ($4) % 0.1% -4.1% -4.1% 0.9% -0.5% -3.6% $231 22.0% 10 bps 4Q22 $617 % 6.3% -6.1% 0.2% 0.3% -10.5% -10.1% $131 21.2% -40 bps 4Q22 $130 % 5.7% -3.5% 2.2% 1.5% -6.7% -3.1% $40 31.1% 620 bps % -3.7% -5.7% -9.4% 0.0% (4) -0.3% ($111) -9.7% 1Q23 $1,032 $ ($43) (65) ($108) $240 23.3% -240 bps $ $7 (24) ($17) (33) ($50) $ $1 (4) ($3) 1Q23 $630 (6) ($9) $122 19.3% -180 bps % 1.0% -3.6% -2.6% 0.0% -4.8% -7.4% 1Q23 $118 $36 27.7% 450 bps Note: the sum of Americas, Europe, and AMEA does not equal Total, Avantor. Does not include corporate-level expenses % 1.0% -3.3% -2.3% 0.0% -4.4% -6.7% $34 28.4% 530 bps 2Q23 $1,026 $ ($102) (28) ($130) (1) ($131) $247 24.1% -95 bps $ ($11) (17) ($28) 11 ($17) % -8.8% -2.4% -11.2% 0.0% -0.1% -11.3% $ ($11) (5) ($16) 2Q23 $607 (2) ($19) $111 18.3% -80 bps % -1.8% -2.7% -4.5% 0.0% 1.8% -2.7% 2Q23 $111 % -8.7% -3.9% -12.6% 0.0% -1.8% -14.4% $26 23.7% -405 bps % -7.9% -1.5% -9.4% 0.0% 0.1% 1 ($104) -9.3% $ ($88) (17) ($105) 3Q23 $1,019 $224 22.0% -140 bps $ ($51) (5) ($56) 41 ($15) $ ($8) (10) ($17) 0 ($17) 3Q23 $580 $103 17.7% -420 bps % -8.6% -0.9% -9.5% 0.0% 6.9% -2.6% 3Q23 $121 % -5.4% -6.9% -12.3% 0.0% 0.0% -12.3% $34 27.9% 210 bps 6#74 Regional Core Organic Growth & Adjusted EBITDA (Annual) USD in millions Navantor™ Americas GAAP consolidated net sales Core organic growth (decline) COVID Impact Organic growth (decline) M&A Impact FX Impact Reported net sales growth (decline) Adjusted EBITDA (non-GAAP) Adjusted EBITDA margin Adjusted EBITDA margin growth (-bps) Europe GAAP consolidated net sales Core organic growth (decline) COVID Impact Organic growth (decline) M&A Impact FX Impact Reported net sales growth (decline) Adjusted EBITDA (non-GAAP) Adjusted EBITDA margin Adjusted EBITDA margin growth (~bps) AMEA GAAP consolidated net sales Core organic growth (decline) COVID Impact Organic growth (decline) M&A Impact FX Impact Reported net sales growth (decline) Adjusted EBITDA (non-GAAP) Adjusted EBITDA margin Adjusted EBITDA margin growth (~bps) FY2020 $3,731 $ $45 119 $164 (17) $147 $ $1 24 $25 $802 21.5% 190 bps $ $25 123 $148 FY2020 $2,287 37 $185 % 1.3% 3.3% 4.6% 0.0% -0.5% 4.1% (3) $22 % 1.3% 5.8% 7.1% 0.0% 1.7% 8.8% $398 17.4% 50 bps FY2020 $375 % 0.2% 6.9% 7.1% 0.0% -0.9% 6.2% $ $330 121 $451 35 20 $506 FY2021 $4,237 $ $176 29 $978 23.1% 160 bps $206 85 % 8.8% 3.2% 12.1% 1.0% 0.5% 13.6% FY2021 $2,677 99 $391 $ $75 (13) $62 23 11 $96 % 7.7% 1.3% 9.1% 3.7% 4.2% 17.1% $539 20.1% 270 bps FY2021 $471 % 20.0% -3.4% 16.6% 6.2% 2.8% 25.6% FY2022 $4,471 $ $260 (145) $115 133 (14) $234 $1,077 24.1% 100 bps % 6.1% -3.4% 2.7% 3.1% -0.3% 5.5% FY2022 $2,517 $ $148 (124) $24 92 (276) ($161) $ $33 4 $37 43 (27) $53 % 5.5% -4.6% 0.9% 3.4% -10.3% -6.0% $524 20.8% 70 bps FY2022 $525 % 7.0% 0.8% 7.8% 9.1% -5.6% 11.3% FY2023 YTD $3,077 $ ($232) (110) ($343) (4) ($346) $711 23.1% -160 bps FY2023 YTD $1,817 $ ($56) (46) ($102) 19 ($82) % -6.8% -3.2% -10.0% 0.0% -0.1% -10.1% $336 18.5% -220 bps $ ($17) (19) ($36) % -2.9% -2.4% -5.3% 0.0% 1.0% -4.3% FY2023 YTD $351 (8) ($44) % -4.4% -4.8% -9.2% 0.0% -2.0% -11.2% $80 21.3% -170 bps $114 24.2% 290 bps $142 27.0% 280 bps Note: the sum of Americas, Europe, and AMEA does not equal Total, Avantor. Does not include corporate-level expenses $94 26.7% 110 bps 7#85 Net Income, Adj. EBITDA, Adj. Net Leverage, FCF (Quarterly) USD in millions Net income attributable to Avantor Inc. (GAAP) Amortization Loss on extinguishment of debt Net foreign currency loss (gain) from financing activities Other stock-based compensation (benefit) expense Acquisition-related expenses² Integration related expenses³ Purchase accounting adjustments Restructuring & severance charges5 Reserve for certain legal matters Impairment charges' Income tax benefit applicable to pretax adjustments Adjusted net income (non-GAAP) Interest expense Depreciation Income tax provision applicable to Adj. Net Income Adjusted EBITDA (non-GAAP) Adjusted EBITDA margin Adjusted EBITDA margin growth (-bps) Total Debt, Gross Less: cash and cash equivalents Total TTM Adjusted EBITDA TTM Stock Based Compensation TTM for Acquisitions prior to Ownership TTM Adjusted EBITDA with RR Synergies & Excl. SBC Adjusted net leverage (non-GAAP) Net cash provided by operating activities (GAAP) Capital expenditures Free Cash Flow (non-GAAP) FCF % of Adjusted net income avantor™ 1Q22 $ $190.4 92.2 1.8 0.1 (1.3) - 3.9 (4.4) 1.9 (25.8) $258.8 64.8 22.3 77.2 $423.1 21.7% 140 bps $6,943.9 (283.6) $6,660.3 $1,598.1 48.9 $1,647.0 4.0x $152.2 (24.5) $127.7 49% 2Q22 $ $187.4 67.8 6.1 0.9 (0.4) - 3.3 13.8 0.5 (27.9) $251.5 63.9 21.9 66.8 $404.1 21.2% 140 bps $6,611.5 (237.5) $6,374.0 $1,592.4 50.8 $1,643.2 3.9x $227.5 (36.3) $191.2 76% 3Q22 $ $167.0 79.8 2.9 (1.2) (1.6) - 6.4 1.3 (23.4) $231.2 67.3 20.8 64.7 $384.0 20.7% 100 bps $6,253.3 (265.6) $5,987.7 $1,580.9 52.6 9 $1,642.3 3.6x $258.3 (39.0) $219.3 95% 4Q22 $ $141.7 78.5 1.7 7.2 5.6 - (0.2) (20.5) $214.0 69.8 22.2 53.5 $359.5 20.0% 60 bps $6,349.1 (372.9) $5,976.2 $1,570.7 49.1 $1,619.8 3.7x $205.6 (33.6) $172.0 80% 1Q23 $ $121.5 78.4 2.3 (0.2) 0.1 - 8.7 4.7 (20.1) $195.4 73.7 22.7 54.4 $346.2 19.4% -230 bps $6,117.7 (294.6) $5,823.1 $1,493.8 49.7 $1,543.5 3.8x $219.5 (28.0) $191.5 98% 2Q23 $ ($7.3) 78.9 1.6 (1.6) (0.1) - (0.6) - 7.2 1.0 160.8 (53.5) $186.4 73.4 23.7 59.5 $343.0 19.7% -150 bps $5,936.2 (236.4) $5,699.8 $1,432.7 45.6 $1,478.3 3.9x $168.2 (30.1) $138.1 74% 3Q23 $ $108.4 75.4 2.0 (0.5) 0.1 - 0.2 6.1 3.0 (23.1) $171.6 72.4 22.6 51.2 $317.8 18.5% -220 bps $5,672.7 (236.9) $5,435.8 $1,366.5 41.6 $1,408.1 3.9x $230.7 (37.7) $193.0 112% 8#96 Net Income, Adj. EBITDA, Adj. Net Leverage, FCF (Annual) USD in millions Net income attributable to Avantor Inc. (GAAP) Amortization Loss on extinguishment of debt Net foreign currency loss (gain) from financing activities Other stock-based compensation (benefit) expense Acquisition-related expenses² Integration related expenses³ Purchase accounting adjustments Restructuring & severance charges5 Receipt of disgorgement penalty Reserve for certain legal matters Impairment charges? Income tax benefit applicable to pretax adjustments Adjusted net income (non-GAAP) Interest expense Depreciation Income tax provision applicable to Adj. Net Income Adjusted EBITDA (non-GAAP) Adjusted EBITDA margin Adjusted EBITDA margin growth (~bps) Total Debt, Gross Less: cash and cash equivalents Total 9 TTM Adjusted EBITDA TTM Stock Based Compensation TTM for Acquisitions prior to Ownership TTM Adjusted EBITDA with RR Synergies & Excl. SBC Adjusted net leverage (non-GAAP) Net cash provided by operating activities (GAAP) Capital expenditures Acquisition-related expenses paid Free Cash Flow (non-GAAP) FCF % of Adjusted net income avantor™ FY2020 $ $116.6 307.5 346.8 (0.7) 1.3 - 17.1 - 11.8 (225.2) $575.2 307.6 87.9 170.9 $1,141.6 17.9% 80 bps $4,972.2 (286.6) $4,685.6 $1,141.6 42.4 1.6 $1,185.6 4.0x $929.8 (61.6) $868.2 151% FY2021 $ $572.6 290.8 12.4 1.3 3.0 77.8 15.9 6.3 5.3 (13.0) (65.1) $907.3 217.4 88.4 245.5 $1,458.6 19.8% 190 bps $7,113.2 (301.7) $6,811.5 $1,458.6 47.7 128.7 $1,635.0 4.2x $953.6 (111.1) 77.8 $920.3 101% FY2022 $ $686.5 318.3 12.5 7.0 (3.3) - 19.2 9.4 3.5 (97.6) $955.5 265.8 87.2 262.2 $1,570.7 20.9% 110 bps $6,349.1 (372.9) $5,976.2 $1,570.7 49.1 $1,619.8 3.7x $843.6 (133.4) $710.2 75% FY2023 YTD $ $222.6 232.7 5.9 (2.3) 0.1 8.3 - 18.0 4.0 160.8 (96.7) $553.4 219.5 69.0 165.1 $1,007.0 19.2% -200 bps $5,672.7 (236.9) $5,435.8 $1,366.5 41.6 $1,408.1 3.9x $618.4 (95.8) $522.6 94% 9#107 Adjusted EPS (Quarterly) (Dollars and shares in millions except EPS) Diluted share count (GAAP) Incremental shares excluded for GAAP Diluted share count (non-GAAP) Diluted EPS (GAAP) Dilutive impact of convertible instruments Diluted EPS (non-GAAP) Amortization Loss on extinguishment of debt Net foreign currency loss (gain) from financing activities Other stock-based compensation (benefit) expense Acquisition-related expenses² Integration related expenses³ Purchase accounting adjustments Restructuring & severance charges5 Reserve for certain legal matters Impairment charges' Income tax benefit applicable to pretax adjustments Adjusted EPS (non-GAAP) Navantor™ $ $ $ 1Q22 681 shares 681 shares $ 0.28 0.28 0.14 0.01 (0.01) $ (0.04) 0.38 $ 2Q22 680 shares 680 shares $ 0.28 0.28 0.10 0.01 0.02 (0.04) 0.37 $ $ $ 3Q22 679 shares 679 shares $ 0.25 0.25 0.11 0.01 (0.03) 0.34 $ $ es $ 4Q22 677 shares 677 shares $ 0.21 0.21 0.12 0.01 0.01 (0.03) 0.32 $ $ $ 1Q23 678 shares 678 shares $ 0.18 0.18 0.12 0.01 0.01 ㅇ.'ㅇㅇ (0.03) 0.29 $ $ $ 2Q23 675 shares 2 shares 678 shares $ (0.01) (0.01) 0.12 0.01 0.24 (0.08) 0.28 $ $ $ 3Q23 679 shares 679 shares $ 0.16 0.16 0.11 0.01 OO (0.03) 0.25 10#118 Adjusted EPS (Annual) (Dollars and shares in millions except EPS) Diluted share count (GAAP) Incremental shares excluded for GAAP Normalization Diluted share count (non-GAAP) Diluted EPS (GAAP) Dilutive impact of convertible instruments Diluted EPS (non-GAAP) Amortization Loss on extinguishment of debt Net foreign currency loss (gain) from financing activities Other stock-based compensation (benefit) expense Acquisition-related expenses² Integration related expenses³ Purchase accounting adjustments⁹ Restructuring & severance charges5 Receipt of disgorgement penalty Reserve for certain legal matters Impairment charges Income tax benefit applicable to pretax adjustments Adjusted EPS (non-GAAP) Navantor™ $ $ $ FY2020 583 shares 63 (4) 643 shares $ 0.09 0.09 0.18 0.48 0.54 0.03 0.01 TOO (0.35) 0.89 $ $ $ FY2021 600 shares 63 (20) 643 shares $ 0.85 0.04 0.89 0.45 0.03 0.12 0.03 0.01 -OO (0.02) (0.10) 1.41 $ $ $ FY2022 679 shares 679 shares $ 1.01 1.01 0.47 0.01 0.01 0.03 0.01 0.01 (0.14) 1.41 $ $ FY2023 YTD 678 shares 678 shares $ 0.33 0.33 0.34 0.01 0.03 0.01 0.24 (0.14) 0.82 11#12Core organic growth trend (Quarterly) (Dollars in millions) Total Avantor, Global GAAP consolidated net sales Core organic growth (decline) End market Biopharma Healthcare Education & Government Advanced tech & applied materials Product Proprietary materials & consumables Third-party materials & consumables Services & specialty procurement Equipment & instrumentation Navantor™ 1Q22 $1,950 7.3% +HSD +MSD -LSD +HSD +DD +LSD +LSD +HSD 2Q22 $1,911 6.4% +HSD - LSD - LSD +DD +DD +MSD +LSD +MSD 3Q22 $1,857 7.8% +HSD +MSD -LSD +DD +DD +LSD +MSD +LSD 4Q22 $1,795 2.7% +LSD -MSD -LSD +HSD +HSD -MSD -LSD +LSD 1Q23 $1,780 (1.8%) -LSD -MSD +MSD -LSD +/- 0 -MSD +MSD -LSD Note: LSD 1-3% / MSD 4-6% / HSD 7-9% / LDD 10-12%. Organic growth (decline) is reported revenue growth (decline) excluding the impacts from changes in foreign currency exchange rates. Core organic growth (decline) is organic growth (decline) net of COVID-19 impact. 2Q23 $1,744 (6.5%) -HSD +MSD +MSD -HSD -DD -MSD +MSD -MSD 3Q23 $1,720 (7.9%) -HSD -HSD +LSD -LDD -LDD -HSD +MSD -HSD 12#1310 Debt update Working capital Secured debt Unsecured debt Instrument AR facility ($400M) Revolver ($975M)B Term loan Term Loan Term loan Senior secured (€650M) Senior unsecured Senior unsecured Senior unsecured (€400M) Capital leases & other Total debt Navantor™ Maturity 10/2025 06/2028 06/2026 06/2028 11/2027 11/2025 11/2029 07/2028 07/2028 Principal ($M) $297.7 $0.0 $336.0 $625.6 $872.7 $687.6 $800.0 $1,550.0 $423.1 $80.0 $5,672.7 A. Secured Overnight Financing Rate includes a credit spread adjustment B. In June 2023, we amended the revolving credit facility to increase its funding limit up to $975.0 million and extended the term to June 29, 2028 Interest rate S + 0.80%A S +1.75%A E + 2.00% E+2.50% S+2.25%A 2.625% fixed 3.875% fixed 4.625% fixed 3.875% fixed 13