#1Galenica Group Investor Presentation August 2022 Galenica - Health and wellbeing are at the heart of what we do. GALENICA#2About Galenica Table of contents Market environment Business performance Governance Sustainability Outlook 3 About Galenica 28 Market environment 40 Business performance 61 Governance 71 Sustainability 80 Outlook 2 GALENICA 08/08/22#3About Galenica GALENICA Galenica - Health and wellbeing are at the heart of what we do. 3#4About Galenica Market environment Business performance Governance Sustainability Outlook Galenica in figures 1) Net sales in million CHF EBIT adjusted²) in million CHF Leading healthcare provider in Switzerland Galenica Group 3,834.7 368 own pharmacies Employees (Headcount) > 7,200 Galenica Group Debt coverage adjusted Equity ratio 213.1 ■ Products & Care ■Logistics & IT Products & Care ■Logistics & IT 1 Figures as at 31 Dec 2021 2 Excluding effects of IAS 19 and IFRS 16, see chapter "Alternative performance measures" of the Annual report 2021 08/08/22 1.0x 48.1% Operating Cash flow adjusted²) (in million CHF) 283 million Dividend yield 3.1% GALENICA#5About Galenica Market environment Business performance Governance Building the leading Swiss healthcare platform over 90 years Foundation of Galenica as a wholesaler Joint Venture coop vitality Strategy to engage in the entire Swiss healthcare value chain Acquisition ANT ANI AMAVITA+ Creation of Amavita uniform brand in Switzerland PERSKINDOL PERSKINDOL Adiv Organic and acquisition-led expansion of pharmacies network GaleniCare IPO Acquisition medifilmⓇ Sustainability Outlook Galenica Santé Acquisition Acquisition Osa Zahnger demnit Acquisition Lifestage Joint Venture BAHNHOF APOTHEKE Acquisition Acquisition Acquisition Acquisition MEDI SERVICE PHARMACIE SUN STORE Merfen Vita-Merfen D bichsel Opening of highly automated distribution centre in Niederbipp Galexis Acquisition PHARMAPOOL Praxiserprobt. Carmol Acquisition SPAGYROS Acquisition emeda Die Heimärzte Acquisition Q Relaunch Vita-Merfen A Vitamin D 1927 1995 2000 2002/2004 2005 2007 2008 2009 2013 2017 2018 2019 2020 2021 Corporate Segment Products & Care Segment Logistics & IT 08/08/22 5 Vitamine D3 Wild Huile Strategic partnership Well 2022 GALENICA#6About Galenica Market environment Business performance Governance Switzerland's leading fully integrated healthcare provider Largest network of pharmacies in Switzerland with over 500 pharmacies, online and offline Well-known brands and products and exclusive licensed products from business partners 08/08/22 ■GALENICA Co 6 Sustainability Outlook Wide range of services for patients and professional service providers Leading provider of logistics and IT in the healthcare sector GALENICA#7About Galenica Market environment Business performance Governance Sustainability Outlook Customer promise We support people at every stage of life on their journey towards health and well-being. With personal and expert advice and a unique range of products and services. Anytime and anywhere in Switzerland. 08/08/22 GALENICA 7#8About Galenica Market environment Business performance Governance Sustainability Outlook What we do Vision Health and wellbeing are at the heart of what we do. They are the reason we give our best every day. Values ☑ We build trust We show respect Together, we are stronger We act as entrepreneurs We participate with passion Employees Sustainability guidelines Our services 08/08/22 Enterprise value Long-term increase in the value of the Commitment of employees to act company through sustainable practices responsibly and to ensure a safe, flexible and supportive working environment Resource efficiency The respectful and efficient use of resources and reduction of negative environmental impacts Patients & Customers At the pharmacy or at home 8 Algifor Liquid caps 400 Ibuprofène 400 mg Analgésique avec effet ant-inflammato et febrifuge 10 caps de giline mole Products VERFORA Business clients Services Logistics Digital Services GALENICA#9About Galenica Business model Market environment Business performance Governance Sustainability Outlook Vision Health and wellbeing are at the heart of what we do. They are the reason we give our best every day. 08/08/22 For Professionals (B2B) | | | Pharmacies Drugstores Doctors Hospitals Homes Other service providers Products + Services 9 + Customer promise We support people at every stage of life on their journey towards health and wellbeing. With personal and expert advice and a unique range of products and services. Anytime and anywhere in Switzerland. Our Retail (B2C) - Local Pharmacies Mail Order Home Care Logistics Digital Services GALENICA#10About Galenica Market environment Business performance Governance Sustainability Outlook Strategic programmes Market orientation Omni-Channel Care Professionals aplic Internal organisation Efficiency F Transformation - First-choice partner for healthcare professionals Leader in e-health Patient safety and security of supply - Simple and efficient, for customers, partners and employees Process and cost optimisation Sustainable use of resources Making employees fit for the future Promoting equal opportunities and diversity Decision-making by competent, agile teams - Best customer experience anytime and anywhere - First point of contact for - Further development and networking of all online and offline channels Expansion of product range - healthcare advice First-class healthcare services - Preferred cooperation - partner 08/08/22 10 GALENICA#11About Galenica Market environment Business performance Governance Sustainability Outlook Our Business Units: Strong on the market Products & Care Retail (B2C) Professionals (B2B) Local Pharmacies Pharmacies at Home Products & Brands Services for Professionals VERFORA bichsel AMAVITA + AMAVITA + + SUN STORE + SUN STORE SPAGYROS coop vitality apodoc bichsel coop vitality 08/08/22 care product MEDI SERVICE 11 medifilmⓇ Logistics & IT Wholesale Galexis PHARMAPOOL Praxiserprobt. Logistics & IT Services Alloga HCI Solutions aquantC CLEARLY AHEAD Winconcept Lifestage SOLUTIONS ufd emeda Die Heimärzte m ա medinform GALENICA#12About Galenica Market environment Business performance Governance Sustainability Outlook Our Business Areas¹) GALENICA Net sales in million CHF EBIT2) in million CHF 213 Products & Care Net sales in million CHF 3,835 1,908 Retail (B2C) Local Pharmacies EBIT2) in million CHF 154 Pharmacies at Home Products & Brands Algifor Liquid caps 400 Ibuprofene 400 mg Analgésique 10 capsules de paine no ✓VERFORA Professionals (B2B) Services for Professionals Net sales Net sales Net sales Net sales in million CHF in million CHF in million CHF in million CHF 1,262 459 132 62 1 Figures as at 31 Dec 2021 2 Adjusted EBIT, excludes IAS 19 and IFRS 16 effects, see Annual Report 2021 chapter „alternative performance measures" 08/08/22 12 Logistics & IT Net sales in million CHF 2,831 EBIT²) in million CHF 61 Wholesale Logistics & IT Services Net sales in million CHF 2,728 Net sales in million CHF 112 GALENICA#13About Galenica Market environment Business performance Governance Sustainability Outlook Local pharmacies: Three largest pharmacy chains in Switzerland Key takeaways - Largest pharmacy network offers broad product - - - range, including well-known own brands, as well as health services and tests Built organically and through targeted acquisitions since 2000 Including attractive, high customer traffic locations across Switzerland. Multi-brand strategy: pharmacies formats include different store concepts and product ranges to respond to different customer needs. Market share of ~25% in terms of sales Own customer loyalty programme Starcard (Amavita), SunCard (Sunstore) and Coop Supercard (Coop Vitality) ERMA APOTHEKE SUN STORE PM 210BE 1 Amavita figures include 6 majority holdings in other pharmacies, figures as at 30 June 2022 08/08/22 13 Largest branded pharmacy network by number of pharmacies in Switzerland 1 188 AMAVITA + The first Swiss pharmacy chain 94 SUN STORE Joint venture (49:51) with Coop, the 2nd largest retail group in Switzerland 89 coop vitality GALENICA#14About Galenica Market environment Business performance Governance Sustainability Outlook Local pharmacies: Broad range of product and service offerings Amavita and Sun Store product offering in % of sales¹ Service offerings in local pharmacies (selection) Primary Care Health Checks 20% 10% ■ Prescription medicines of which originals 37% ■of which generics Vaccinations of which service fees H OTC medicines ■Nutrition, Personal and 16% Patient Care OnlineDoctor 13% 4% 54% ■ Beauty 1) Share of net sales H1 2022 by product category generated by local pharmacies 08/08/22 14 OnlineDoctor HautCheck COVID-19 Tests and Vaccinations GALENICA#15About Galenica Market environment Business performance Local pharmacies: Always available where our customers are Widely spread pharmacy network covers every Region in Switzerland 18 14 13 13 24 10 Number of pharmacies in metropolitan areas Based on number of pharmacies. Source: pharmaSuisse 2021, IQVIA Market Prognosis 2021-2025, Switzerland, published March 2021 and company websites 1 2 Own includes 89 pharmacies through joint venture with Coop 08/08/22 15 Governance Sustainability Outlook Demonstrated M&A track record with an average of 9 pharmacies acquired and 8 net pharmacies added per year over the last 5 years 2018 2019 2020 2021 H1 2022 Pharmacies acquired 10 11 12 5 3 New pharmacies opened 3 8 5 3 2 Pharmacies closed -5 -8 -7 -6 -1 Total own Pharmacies 345 356 366 368 372 Network of chains Number of pharmacies as of 30 June 2022 (Total 1,819 pharmacies in Switzerland¹) ~4.1x more pharmacies than next competitor 3722 20% 90 90 70 GALENICA no 2 no 3 GALENICA#16About Galenica Market environment Business performance Governance Sustainability Outlook MEDI SERVICE AMAVITA 27% PHARMACIE SUN STORE bichsel Pharmacies at home: Mail order pharmacies and home care services Key takeaways - - Business area covers both home care (Bichsel & Mediservice) and Mail-order pharmacies (Mediservice & webshops) with a share of 27% of Total Retail sales (B2C) Both Homecare and Mail-order pharmacies (including webshops) represent key growth areas of Galenica Strong online presence with own web shops and a broad product range with over 60'000 products, including well-known own brands Same infrastructure used for mail-order pharmacies of all pharmacy brands to realise economies of scale MEDICATION SCENTS FACE & BODY HEALTH SERVICES LOCATIONS AMAVITA ORDERS PERSCRIPTIONS MEDICATION- SERVICES. POINTS AMAVITA+ welcome back rearo LargoSo PERSONAL INFORMATION 蘭 Health Center CUSTOMER SUPPORT Next appointment 18.02.2021 Dr. Marius MORE INFO MORE INFO▸ You have 2345 points to use in your purchases MORE INFO LATEST PURCHASE MILUPA APTAMIL AR thickener 135g B Next medication Bioflorin 12.02.2021 until 1pm MEDIPLAN REORDER > Product Bimbodin suggestion BIMBOSANHA starter milk 400g Continuous development of online offerings to further improve customer experience through innovative solutions such as our upcoming customer dashboard. Total Retail Net Sales (2021) 73% in million CHF 1,720 AMAVITA + + SUN STORE 08/08/22 16 ■ Pharmacies at home Local pharmacies GALENICA#17About Galenica Market environment Business performance Governance Sustainability Pharmacies at home: Bichsel home care services for over 9,000 active patients across Switzerland - Improve quality of life, e.g. enhanced mobility, continuation in familiar setting Efficient provision of services compared with in-patient alternatives Patients from toddlers to the elderly, both acute and chronic Treatment areas include: - Clinical nutrition: bichsel 08/08/22 - - Sip feed enteral parental Metabolic Disease & Tracheostomy OPAT (outpatient antibiotic therapy) Pain therapies 17 HomeCabichse Outlook GALENICA#18About Galenica Market environment Business performance Governance Sustainability Outlook Pharmacies at home: Mediservice as market leading Mail-order pharmacy in Switzerland1 Market leading mail-order pharmacy in Switzerland1 MEDI SERVICE Market Share Mail-order pharmacies¹ 70% Specialty pharmacy focused on patients with chronic illnesses as well as need for home care services: 60% Constantly expanding services, moving from a highly specialised mail-order pharmacy to a Distance Healthcare Provider 50% Strong focus on Specialty Rx and care for Chronic Patients 40% - Active in over 50 specialty indications, especially in 2015 2016 2017 2018 2019 2020 2021 neurology, immunology, rare diseases and oncology ■Mediservice Other mail-order pharmacies - Very high customer satisfaction score 9.3/10 1 IQVIA, Pharmaceutical Market Switzerland, YTD December 2021, Rx market Switzerland by channels, market leading mail-order pharmacy in terms of net sales 08/08/22 18 GALENICA#19About Galenica Market environment Business performance Products & Brands: Governance Strong brands for the Swiss Consumer Healthcare Market Key takeaways Leading position 1) in the Swiss consumer healthcare market (CHC) - Preferred Consumer Health partner for Swiss Selected own brands 50 Ugoutte Sustainability VERFORA Vitamine Itinerol B6 Meeladin HC 50 mg, Pyae HC 50 mg. D3 Wild Vitamin Huile Cholecalcolm VERFORAL ✔VERFORA Triofan ✔VERFORA Triomer 3plus - - Pharmacies & Drugstores Broad Sales & Training force Expanding portfolio of own and exclusive partner brands Leveraging of Galenica's Retail platform to distribute Verfora & Partner brands → Distribution partner of choice Continued growth strategy for big OTC brands, complementary medicine, beauty and Rx Build-up of physician field service from 2022 onwards Selected partner brands 1 Based on IQVIA Sell-out Street Price Pharmacies & Drugstores December 2021 YTD 19 08/08/22 NATURE ANTI Nasivi VERACTIV MAGNESIUM ANTI BREMM DIRECT+ Nasivin Bucco Janfum Mere Merfen VERFORA Triofan Triomer PERSKINDOL OVERFOR BUCCO Tantum Benzydamin Clearblue Minute VICKS Kytta Pommade VICKS VapoRub Sale Onguent VICKS VapoRub wässerige Lösung 100 PERSKANDOL Metiva OMNI BIOTIC AAD Outlook Algifor Liquid caps 400 Ibuprofen 400 mg Schmerzmittel mit entzündungshemmender and tebersenkender Wirkung 10 Weingelatinkapseln Osa Zahngel ThermaCare® 900002 N7 Magnesium ph WÄRMEUMSCHLÄGE RÜCKEN wirksame Schmerzlinderung 8h Wame S 2 STÜCK VERFORA Mustela HYCA GALENICA#20About Galenica Market environment Business performance Governance Products & Brands: Strong brands for the Swiss Consumer Healthcare Market Verfora market share in Swiss CHC market1 Sustainability Outlook Market share of main OTC product categories of Verfora 8.6% CHF 219.5 million OTC products 11.4% market share CHF 181.9 million Personal care 5.6% market share CHF 30.6 million Patient Care 1.9% market share CHF 6.4 million Nutrition 0.7% market share CHF 0.6 million Pain relief 27.9% (CHF 71.0 million) Cough & cold 17.2% (CHF 46.7 million) Vitamins, minerals & nutritional supplements 7.2% (CHF 21.4 million) Skin treatment 7.9% (CHF 15.1 million) 1) IQVIA Sell-out Street Price Pharmacies & Drugstores December 2021 YTD 08/08/22 20 20 GALENICA#21About Galenica Market environment Business performance Products & Brands: Governance Sustainability Proven M&A track record as key driver for market share growth Verfora growth strategy - Big OTC brands - - - Emerging platforms complementary medicine, beauty & Rx New distribution agreements Acquisitions of brands/ companies International expansion via distributors OTC Beauty Complementary Medicine 08/08/22 Acquisition of MerfenⓇ and Vita-MerfenⓇ Distribution Vicks and Metamucil VICKS Distribution AllergosanⓇ OMNI BIOTICO Distribution Merfen Excilor Vita-Merfen exCILOR WARZEN STOPP 21 2017 Distribution Lierac and Phyto Launch DERMAFORA + LIERAC PHYTO Distribution Oenobiol 2018 2019 21 24 Distribution Bucco-TantumⓇ OENOBIOL TEINT DE BRONZE WERFORA Bucco Tantum Carmol Kytta Nasivin Osa Zahngel Acquisition Hedoga Group 100 LE/Tropfen Vi-De 3 Acquisition Dr. Wild ThermaCare WIDHEUMSCHLAGE RÜCKENSCHMERZEN Distribution ThermaCare® Vitamin D3 Wild Vitamin D3 Wild Öl Cholecarolum WiD Acquisition SpagyrosⓇ Spagyrom Halsschmerzen Maux de gorge SPAGYROS Gemme Ribes nigrum URIAGE $50+ Baréderm Mustela Outlook 10.0% 8.0% 6.0% " SPAGYROS Distribution BoironⓇ Distribution UriageⓇ Distribution MustelaⓇ 2020 -market share 2021 BOIRON 2022 H 4.0% 2023 GALENICA#22About Galenica Market environment Business performance Governance Sustainability Outlook Services for Professionals: We support healthcare professionals with high quality services Lifestage SOLUTIONS Lifestage Solutions develops and operates a fully integrated digital trading platform for home care organisations and nursing homes Strong customer focus: the platform simplifies daily workflows for its customers using digitalisation and state-of-the-art technology + emeda Emeda provides medical and pharmaceutical services to retirement and nursing homes in Switzerland Die Heimärzte Joint Venture with Medicall medifilm Nursing homes/ Homecare organisations bichsel 08/08/22 = Pharmacies Prepared drugs in blisters ensuring safe medication - Key customers include nursing homes - Training and education for pharmacists m medinform Specialisations of pharmacies Ш Winconcept - - Joint Venture with Ch. Ruob Service provider for independent pharmacies under Feelgood's brand Provided services include Marketing and Sourcing activities 161 partnerships Manufacturing of both specialities of medicines and registered products & medical devices specialised on customized medications for patients and health care professionals Hospitals 22 GALENICA#23About Galenica Market environment Business performance Governance Sustainability Outlook Galexis Wholesale market share¹ % pharmacy channel Wholesale: Leader in wholesale distribution Key takeaways - Wide product range with around 100,000 products in pharma, non-pharma, practice & laboratory equipment and medical devices, whereof around 50% in stock Integrated services, high quality standards PHARMAPOOL Praxiserprobt. ufd - Ensuring the basic drug supply in - 25.2 Galenica (to own pharmacies) Galenica (to third pharmacies) 52.0 22.8 Others Switzerland Main site at Niederbipp operates at up to 65% automation 100,000 products (c.11,000 Rx²) GDP³-compliant services >1,100 suppliers Wholesale market share¹ % Physician channel Galenica: based on market share. Source: IQVIA Pharmacy and Physician Market December 2021 1 2 3 Good Distribution Practice Prescription products 08/08/22 23 30.4 31.3 38.4 Galenica Other wholesalers Direct GALENICA#24About Galenica Market environment Business performance Governance Sustainability Outlook Wholesale: Leader¹) in wholesale distribution Wholesale distribution with four distribution centers: Galexis Lausanne-Ecublens Galexis Niederbipp Basel Luzern Neuenburg Bern Genf Sitten PHARMAPOOL Praxiserprobt. Widnau Zürich 1 Based on IQVIA Pharmacy and Physician Market December 2021 08/08/22 24 Chur Customers by channel Pharmacies 1,250 Drugstore 2 250 ufd Lugano-Barbengo Medical practices > 5,600 Hospitals/Nursing homes > 500 GALENICA#25Market environment Business performance Governance Sustainability Outlook About Galenica Logistics & IT Services: Leader in pre-wholesale distribution Key takeaways - - Third-party logistics provider Alloga for the pharmaceutical industry (pre-wholesaling) including additional services (labeling, repacking, clinical trial service) Service quality as key differentiator GDP (Good Distribution Practice) GMP (Good Manufacturing Practice) Temperature zones: 15-25ºC, 2-8°C, -20°C, -80°C Pre-wholesale market share¹) 1.3x larger than next competitor 40% 32% 7% Alloga No. 2 No. 3 08/08/22 1 Company estimate 25 15 Warehouse capacity 35,200 m² Pharma Customers 100 Shipping packages 2,130 per day 225 Stock items (SKU) >10,000 GALENICA#26About Galenica Market environment Business performance Governance Sustainability Outlook Logistics & IT Services: Strong IT competencies to drive digital transformation Key takeaways ― Agile Software Development and Projects for Galenica pharmacies und Logistic platforms. - Digital product master data and scientific databases (Index) - IT platforms related to electronic - medication process (Documedis) Systemically relevant digital information and databases (Compendium and pharmaVista) - Internal IT Services and Operations for Galenica subsidiaries Internal IT Services GALENICA Projects & Consulting Software Development Infrastructure & Operations Enterprise Architecture & Data Analytics SAP Competence Center Security & Quality Customer & Service Mgt. Market offering HCI Solutions INDEX D DocumedisⓇ compendium.chⓇ pharmaVISTA aquantC CLEARLY AHEAD 08/08/22 26 GALENICA#27About Galenica Market environment Business performance Governance Sustainability Outlook Logistics & IT Services: Our approach towards more patient safety, convenience and efficiency 08/08/22 Medication Master Data + HCI Solutions + Anamnesis D Documedis e-Mediplan 27 Diagnosis Patients on-/offline D DocumedisⓇ Clinical Decision Support (CDS) Prescription Therapy D Documedis e-Prescription GALENICA#28Market environment Galenica - Health and wellbeing are at the heart of what we do. GALENICA#29About Galenica Market environment Business performance Governance Sustainability Outlook Swiss healthcare market Proven track record of resilient and stable growth Development of Swiss healthcare retail sector¹ in billion CHF (based on ex-manufacturer price) 2011-21 CAGR 2.6%² 2022-25 CAGR 2.0%³ 5 4.9 5.0 5.1 4 4.2 4.4 4.4 4.5 4.6 4.1 3.8 3.9 3.9 3.9 3 2 1 IIII 5.2 5.3 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022E 2023E 2024E 2025E - Underlying healthcare sector growth drivers, including demographics, lifestyle and innovation One of the highest life expectancy rates in the world Non-discretionary nature of products and services Source: IQVIA, Pharmaceutical Market Switzerland, YTD December 2021, Medicines Swissmedic lists A, B, D, sold from suppliers and wholesalers to physicians and drugstores Total market without hospitals 1 2 3 IQVIA, Pharmaceutical Market Switzerland, YTD December 2021 Company estimate 08/08/22 Mandatory price cuts 29 GALENICA#30About Galenica Market environment Business performance Governance Sustainability Outlook Swiss pharmaceutical market: Development by channel 2022 (YTD June) Value (ex-factory): CHF 3,432.6 CHF +227.1 million / +7.1% Volume (packs): 97.5 million +10.5 million / +12.1% 0.9% 25.3% Pharmacies 8.5% CHF 1,642.4 million, +8.5% 3.4% Pharmacies: stationary 1,472.0 Mio., +8.5% 42.9% Pharmacies: mail-order 22.4% 170.3 Mio., +8.2% ■Physicians CHF 889.1 million, +6.0% 25.9% Drugstores 1.0% 5.0% CHF 32.1 million, +12.6% Hospitals CHF 869.1 million, +5.4% Source: APO/SD/DRO/SPI Index, Swissmedic A, B, D Medicines Swissmedic lists A, B, D, sold from suppliers and wholesalers to hospitals, physicians and drugstores © IQVIA Switzerland - Swiss pharmaceutical market 2022 YTD June 08/08/22 30 64.7% Pharmacies 64.1 million, +14.4% ■ Pharmacies: stationary 63.1 Mio., +14.7% Pharmacies: mail-order 1.0 Mio., -1.7% ■Physicians 21.9 million, +7.2% ■Drugstores 3.3 million, +17.2% ■Hospitals 8.3 million, +7.0% GALENICA#31Sustainability Outlook About Galenica Market environment Business performance Governance Swiss pharmaceutical market: monthly development 2019 - 2022 Strong sales development in past two month of 2022 in million CHF 690 670 650 630 610 590 570 550 530 510 490 470 450 430 Jan Feb Mrz Apr Mai Jun Jul Aug Sep Okt Nov Dez 2019 -2020 -.-2021 -2022 Source: APO/SD/DRO/SPI Index, Swissmedic A, B, C, D Medicines Swissmedic lists A, B, D, sold from suppliers and wholesalers to hospitals, physicians and drugstores © IQVIA Switzerland - Swiss pharmaceutical market 2022 June YTD 20 January 2022 31 GALENICA#32About Galenica Market environment Business performance Governance Sustainability Outlook Swiss pharmaceutical market: Galenica as key driver of generic substitution in the Swiss pharmacy channel Drugs reimbursable by health insurance in Swiss pharmacy channel 2021 (by packs, total 78.8 million) 08/08/22 18.9% 21.4% 6.1% 27.6% 26.0% ■ Patent protected products 4.8 million, +4.9% Products with expired patent protection without generics 20.5 million, +1.1% Generics 21.8 million, +5.1% Originals1 14.9 million, -1.0% Others² 16.9 million, +5.3% Market with generics potential 57.2 million, +2.0% Substitution rate market³ 59.4% Substitution rate Pharmacies Galenica Group4 73.5% Galenica Group: increase of generic substitution rate in 20214 +1.5pp Market with generics 36.7 million, +2.5% Source: IQVIA Switzerland -Swiss pharmaceutical market 2021, Market Segmentation, reimbursable products (FOPH) in the pharmacy channel. Monthly calculation basis, delineated market division, data as of December 2021 1) Products with expired patent protection and at least one generic 2) 1. Natural substance (e.g. vitamins, minerals, herbal ingredients) 2. Vaccines 3. Biosimilars 4. Reference products 3) Generics 21.8 million / market with generics 36.7 million = 59.4% 32 4) Source: Galenica Group GALENICA#33About Galenica Market environment Business performance Governance Consumer healthcare market: Normalisation of sales of OTC medications in H1 2022 Consumer healthcare market H1 2022 (w/o COVID-19 self-tests) 12.2% 3.2% in million CHF 21.1% 1,323.1 +6.4% 63.5% Source: IQVIA Sell-out Street Price Pharmacies & Drugstores June 2022 YTD 08/08/22 Sustainability Outlook ■ OTC +10.1% OTC overall market +10.1% ■ Personal care +1.5% Cough remedies +99.1% ■ Patient care -0.3% ■ Nutrition -3.2% Cold & flu remedies +41.3% Sore throat +78.0% remedies 33 Market development of Verfora products +17.2% ✔VERFORA Triofan Algifor Liquid caps 400 Ibuprofen 400 mg Schnermittel mit entzündungshemmender und teberserkender Mirkung 10 Weichgelalindkapeln VERFORA VICKS VICKS VapoRub VICKS VapoRub Salve Onguen GALENICA#34About Galenica Market environment Business performance Governance Sustainability Outlook Swiss Healthcare Market: Regulatory environment Topic / Initiative Reduction in drug prices Generics prices ,,Reference price system" 08/08/22 Generics Direct import Distribution margin / SBR V OTC products1: online trade 1 Swissmedic category D Current status Standard process, FOPH verifies drug prices in a three-year cycle - Price reduction round for 2021 completed Initiative is definitely rejected (Dec 2021) - Initiative is definitely rejected (Feb 2022) - - Proposal of SBR V contract and distribution margin model still under discussion New proposal for distribution margin by FOPH, consultation started in 2022 New consultation of A. Berset regarding distribution margin, generic promotion and price reductions launched on 3 June 2022 Implementation of a new model at earliest by mid 2023 Federal Council will present a proposal, consultation starting in 2023 Implementation of a new law at earliest in 2024 34 GALENICA#35About Galenica Market environment Business performance Governance Sustainability Outlook Swiss healthcare market: regulatory environment Constant pressure on drug prices Annual savings per channel at public and ex-factory price in million CHF Price reduction rounds 250.0 ■Pharmacies ■Physicians ■Hospitals 225.5 44.6 200.0 184.7 64.8 41.0 150.0 122.3 52.4 118.0 13.4 101.3 100.3 19.3 94.4 100.0 116.1 87.0 30.9 12.1 91.3 33.2 17.1 34.3 24.6 31.5 ? 78.0 25.9 ? 50.0 64.6 65.5 27.8 23.6 51.4 54.2 46.1 38.2 31.9 Public price Ex-factory price 2017 Public price Ex-factory price Public price Ex-factory price Public price Ex-factory price Public price Ex-factory price 2018 2019 2020 2021 prov. Drug prices reviewed in three-year cycles Analysis FOPH price reductions October 2021 - Source: IQVIA APO/SD/SPI SL products, based on input FOPH 08/08/22 35 GALENICA#36About Galenica Market environment Business performance Governance Sustainability Outlook Swiss healthcare market: regulatory environment Current composition of drug prices (SBR IV) Fixed margin elements help to offset price reductions Composition of the price of a prescription/ reimbursable drug: c.3/4 of the retail margin secured by fixed elements. ~8% Per prescription / line Reimbursed → -29% - 24% Retail and ~2/3 Fixed ~ 5% Wholesale ~1/3 Variable Ex-factory→ ~71% FOPH defines price and margin - Margin covers wholesale and retail Ex factory price (in CHF) + surcharge LOA Retail service fees Galenica total margin ■Supplier margin Source: Note: 1 08/08/22 Swissmedic and company information FOPH stands for Federal Office of Public Health; sets prices based on basket of nine countries and quality aspects Based on Company internal figures. 36 + price-related surcharge per pack 0.05-4.99 12.0% 4.00 5.00-10.99 12.0% 8.00 11.00-14.99 12.0% 12.00 15.00-879.99 12.0% 16.00 880.00-2.569.99 7.0% 60.00 From 2.570.00 240.00 LOA: Service based compensation GALENICA#37About Galenica Market environment Business performance Governance Swiss healthcare market: regulatory environment Proposal of SBR V contract and distribution margin model 08/08/22 SBR IV service fees SBR V service fees Distribution margin Distribution margin Ex-Factory price Ex-Factory price 37 Sustainability Outlook Price-related surcharge Surcharge per pack Product margin cap = 3% = II CHF 9.45 = CHF 300.- SBR V tariff model - Under the proposal submitted by Curafutura and Pharmasuisse, the distribution margin and service- based remuneration would be approved as a package. For example, the salary cost of the pharmacy team to provide pharmaceutical services would be removed from the distribution margin and instead now be billed via SBR V. Implementation of a new model at earliest in second half of 2023. GALENICA#38About Galenica Market environment Business performance Governance Sustainability Outlook Swiss healthcare market: regulatory environment New proposal for distribution margin The new proposal by the FOPH includes an adjustment of the distribution margin model with uniform margin for medications with the same active ingredient composition (lowest margin). It is open whether this proposal is linked to a new SBR V contract that compensates for the loss of margin. 10 70 60 60 50 50 Current model New proposal Public price 30 30 40 40 20 20 10 10 Ex factory price 5 10 15 20 25 30 35 40 40 In% of sold packs 1) 20.6% 27% 7.6% 1) Source: pharmaSuisse 08/08/22 41.6% (CHF 15 - 199.99) 38 FOPH defines price and margin – Margin covers wholesale and retail - Ex factory price (in CHF) + price-related surcharge + surcharge per pack 0.05 13.99 9.0% 7.00 14.00 23.99 9.0% 12.00 24.00 999.99 9.0% 16.00 - 1'000 3'130.99 9.0% 19.00 From 3'131 300.00 GALENICA#39About Galenica Market environment Business performance Governance Sustainability Outlook Megatrends and their impact on Galenica Changing customer needs Digitalisation 16:564 Tan Tole H Opre Nondone SUN STORE CHF 19.90 CHF8.50 We further improve the customer experience in both our offline and online channels Interconnectedness Adobe Stock Adgby OGA5200 GH C eeee Ageing society We want to play a leading role in the digitalisation of the healthcare sector Home care Our strategic focus includes services for home care organisations and nursing homes Cost pressure Our digital solutions create added value and enable strong partnerships We further develop our home care services for enhanced life quality Our service offerings such as Primary Care can help to reduce treatment costs 08/08/22 39 GALENICA#40Our success story Business performance Galenica - Health and wellbeing are at the heart of what we do. GALENICA#41About Galenica Market environment Business performance Governance Sustainability Outlook Key business events 2022 emeda Die Heimärzte March 2022: Galenica and Medicall created the Joint Venture Emeda Emeda provides medical and pharmaceutical services to retirement and nursing homes in Switzerland. Well June 2022: Galenica joined the digital health platform WELL Well supports patients and customers in every aspect of their health. The Well app is a quick way to check symptoms, book doctor's appointments, order medication, and much more. BOIRON® June 2022: Verfora will take over the distribution of Boiron products in Switzerland from 1 October 2022 Boiron is one of the world's leading manufacturers and distributors of homeopathic medicines. January – July 2022 m Ш medinform July 2022: Galenica acquired 50% of the shares in medinform AG medinform is a leading provider of training courses and specialisations for pharmacies in Switzerland. aquantC CLEARLY AHEAD July 2022: Galenica acquired 100% of the shares in Acquantic AG Aquantic has created an online platform (Smartworld), which significantly simplifies the reimbursement of the costs of specific medicines. 08/08/22 Segment Products & Care Segment Logistics & IT 41 GALENICA#42About Galenica Market environment Business performance Governance Sustainability Outlook Performance overview Galenica Group History of resilient growth and margin improvement Logistics, HealthCare Information & Retail1 2012-2021 CAGRS Retail market sales² 2.7% Galenica net sales 4.1% Galenica EBIT3 9.7% 1 Source: 1 2 3 08/08/22 Galenica EBIT margin 3'480 3'835 3'301 6.0% 3'141 3'165 3'009 2'915 2'766 2'826 2'661 3.0% 0.0% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Net sales (CHFm) EBIT margin % Company information, Galenica Annual Reports, IQVIA (former IMS Health) Business segments were newly defined in 2014, the financial information until 2013 does not include Products&Brands Retail market sales include direct and indirect pharmaceutical sales through pharmacies, self-dispensing doctors and drugstores (IQVIA Market Prognosis 2021-2025, Switzerland, published March 2021) 2014-16 reported EBIT, 2017-2021 adjusted EBIT (excluding IAS 19 impact and effects of IFRS 16 leasing (since 2019)) 42 GALENICA#43About Galenica Market environment Business performance Governance Sustainability Outlook Performance overview Galenica Group Strong performance development in both segments EBIT adjusted² (CHFm) Net sales (CHFm) Products & Care Retail Products & Care¹ 3.4% 5.2% I | I 1'166 1'236 1'246 1'335 1'393 1'437 1'479 1'525 1'621 1'683 | I I I 1'908 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 11.3% 53 60 63 I 80 60 89 Logistics & IT Logistics and HCI 0.7% Logistics & IT1 3.9% 2'129 2'149 2'158 2'171 2'245 2'329 2'362 2'372 2'441 2'625 2'831 I I I I 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 9.9% 1554 10% 10% 93 100 110 124 124 I 18.1% 8.1% 7.8% 5% 614 51 5% 35 35 36 36 40 443 45 45 25 2.2% 0% 0% 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Source: Company information, Galenica Annual Reports 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Note: Business segments were newly defined in 2014, the financial information until 2013 for Products&Care does not include Products&Brands 1 2 Segment reporting was revised as at 1 Jan 2021: segments were renamed (former segment "Health&Beauty" renamed to "Products&Care", former "Services" segment renamed to "Logistics&IT"), previous periods were not restated 2014-16 reported EBIT, 2017-2021 adjusted EBIT (excluding IAS 19 impact and effects of IFRS 16 leasing (since 2019)) EBIT margin (%) CAGRS 3 2017 including one-off effects (CHFm7.0), comparable EBIT CHFm 43.6 and ROS 1.8% 4 Products & Care: Including positive Impact from COVID-19 of CHF 19 million / Logistics&IT: Including positive Impact from COVID-19 of CHF 6 million and profit from property sale of CHF 9.4 million 08/08/22 43 GALENICA#44About Galenica Market environment Business performance Governance Sustainability Outlook Performance overview Galenica Group Strong sales and EBIT growth Net sales (in million CHF) +5.5% 1'960 1'857 H1 2021 H1 2022 -1.4% Adjusted²) EBIT (in million CHF) ROS (in %) +4.2% 101.4 100.0 -0.5% 1'378 1'435 H1 2021 5.5% 5.1% +7.3% 76.2 75.8 987 H1 2022 8.3% 7.7% 919 -3.7% Galenica Group Products & Care Logistics & IT Galenica Group Products & Care 26.3 25.4 1.9% 1.8% Logistics & IT Growth without COVID-19 +8.7% +11.8% +7.1% +19.8% +20.9% +15.6% initiatives 1) Net EBIT impact COVID-19 initiatives 1) 1 2 Impact of COVID-19 initiatives includes net sales of PCR tests, Rapid Antigen tests, self-tests as well as vaccinations, EBIT impact estimated Excluding effects of IAS 19 and IFRS 16, see chapter "Alternative performance measures" of the Half-year Report 2022 08/08/22 44 -17 million CHF -13 million CHF -4 million CHF GALENICA#45About Galenica Market environment Business performance Governance Sustainability Outlook Performance overview Galenica Group Adjusted consolidated statement of income¹ 1 Key developments in million CHF H1 2022 H1 2021 in % Net sales 1'960 1'857 +5.5% Cost of goods -1'468 -1'390 +5.6% Strong net sales growth of 5.5% Personnel costs -265 -253 +4.9% Growth of Cost of goods in line with net sales growth Other OPEX -105 -94 +12.0% Share of profit from JV 2 4 -50.6% EBITDA 124 125 -0.8% Development of personnel costs related to newly acquired businesses as well as business growth D&A -24 -23 +1.5% EBIT 100 101 -1.4% ROS 5.1% 5.5% Financial result -1 -1 -16.8% - Taxes -17 -18 -1.9% - Increase of other OPEX also related to business expansion and growth as well as: Investments in Omni-channel infrastructure Measures against lack of qualified personnel Inflation impact Tax rate 17.6% 17.7% Net profit 81 83 -1.5% Detail of the adjustments in the Annual Report 2021 chapter „alternative performance measures" 08/08/22 45 Effective tax rate stable at ~18% GALENICA#46About Galenica Market environment Business performance Performance overview Galenica Group Solid balance sheet with strong equity ratio in million CHF Shareholders' equity adjusted 1) ■Net debt adjusted 1) 08/08/22 Governance Sustainability Outlook Key developments 1'206 1'181 1'105 LLL 258 395 402 H1 2022 Shareholders' equity only slightly lower than Dec 2021 despite dividend pay-out in May 2022 Increase of net debt related to normalisation of net working capital as at 30 June 2022 2021 H1 2021 Debt coverage adjusted 2) 1.0x 1.6x 1.6x 1 Detail of the adjustments in the Annual Report 2021, chapter „alternative performance measures" 2 Net debt adjusted EBITDA adjusted (excluding effects of IAS 19 and IFRS 16), see Annual Report 2021, chapter „,alternative performance measures" 46 GALENICA#47About Galenica Market environment Business performance Governance Sustainability Outlook Performance overview Galenica Group Condensed balance sheet Key developments in million CHF Cash and cash equivalents Trade and other receivables H1 2022 2021 Change 21 165 -144 533 461 +72 Inventories 296 295 +1 Other assets 324 379 -56 Increase of trade receivables due to seasonality effect Decrease of other assets related to pension accounting (IAS 19, asset ceiling) with an impact of CHF 66 million Property, plant and equipment 245 245 +1 Intangible assets 1'035 1'021 +14 Total assets 2'454 2'566 -111 Bond of CHF 200 million repayable in 2023 reclassified to current financial liabilities Current financial liabilities 243 43 +200 Other current liabilities 592 622 -30 Non-current financial liabilities 206 407 -200 Other non-current liabilities 250 261 -11 Shareholder's equity 1'163 1'234 -71 Decrease of other current liabilities relates to normalisation of net working capital as at 30 June 2022 Decrease of equity related to dividend payout of CHF 104 million in May 2022 Total liabilities & shareholder's equity 2'454 2'566 -111 08/08/22 42 47 GALENICA#48About Galenica Market environment Business performance Governance Sustainability Outlook Performance overview Galenica Group Investments in million CHF 60.4 18.2 Investment focus Intangible assets: SAP implementation at Alloga/Galexis digital Omni-channel infrastructure ■Investments in 42.2 intangible assets 30.8 - 24.7 12.2 ■Investments in tangible assets 5.8 18.9 18.7 2021 H1 2021 in % of net sales 1.6% 1.3% H1 2022 1.6% 08/08/22 48 Tangible assets: - renovation and modernisation of distribution center in Lausanne-Ecublens renovations of pharmacies GALENICA#49About Galenica Market environment Business performance Governance Sustainability Outlook Performance overview Galenica Group Solid operating cash flow in million CHF H1 2022 H1 2021 Change Cash flow from operating activities before 134.8 138.7 -3.9 working capital changes Payment of lease liabilities. -26.2 -24.9 Cash flow from operating activities before 108.6 113.8 -5.3 working capital changes adjusted ¹) Working capital changes -95.5 -0.1 Cash flow from operating activities 13.0 113.8 -100.8 adjusted¹) Investments in tangible and intangible assets -29.4 -23.8 Investments in financial and other assets -9.8 4.3 Free cash flow before M&A -26.2 94.3 -120.4 Cash flow from M&A Free cash flow -8.5 -38.4 -34.7 55.9 -90.5 08/08/22 19 49 Key developments Strong increase of net working capital due to seasonality and exceptionally low balance at the end of 2021 Higher investments in digital Omni-channel infrastructure Investment in financial assets includes investments in WELL platform and Emeda GALENICA#50About Galenica Market environment Business performance Governance Sustainability Outlook Performance overview Galenica Group Sales growth in all business areas Net sales (in million CHF) H1 2022 H1 2021 change Local Pharmacies 628 617 +1.8% Pharmacies at Home 253 218 +16.1% Strong sales growth of OTC medications ANTI NATURE Retail (B2C) 880 834 +5.5% Continued sales growth in the area of rare diseases Products & Brands 75 60 +26.0% Services for Professionals 34 29 +18.3% Professionals (B2B) 109 89 +23.5% M&A Products & Care 987 919 +7.4% Wholesale 1'379 1'329 +3.8% Logistics & IT Services 64 51 +26.2% Logistics & IT 1'435 _ 1'378 +4.1% 08/08/22 50 Market share gains in wholesale ANT Algifor Liquid caps 400 Ibuprofen 400 mg VERFORA FTE VICKS VapoRub VICKS VapoRub MEDI SERVICE Apotheke Farmacia Pharmacie Lifestage SOLUTIONS SPAGYROS Vitamin D3 Wild Of SARS-CoV-2 Rapid Antigen Test + COVID-19 Initiatives SARS-CoV-2 Rapid Antigen Test SARS-Coll Raid Astigen" GALENICA 25#51About Galenica Market environment Business performance Governance Local Pharmacies: growth in line with market development Net sales (in million CHF) 1'262 +1.8% 617 628 2021 H1 2021 H1 2022 Expansion effect +2.9% +1.0% 08.08.2022 1 Impact of COVID-19 initiatives includes net sales of PCR tests, Rapid Antigen tests, self-tests as well as vaccinations 51 Sustainability Outlook Key developments High demand for cough and cold medications Increasing footfall at high-frequency locations Negative growth impact of COVID-19 Initiatives¹) -5.7% Triofan VERFORA Triofan Spin Algifor Liquid caps 400 Ibuprofen 400 mg Schmerzmittel mit entzündungstemmender and teberserkerder Wirkung 10 Weichgelainkan VERFORA VICKS VICKS VapoRub VICKS VapoRub Sale Onguent AMAVITA+BAHNHOF APOTHEKE SARS-CoV-2 Rapid Antigen Test SARS-CoV-2 Rapid Antigen Test 25 SARS-CoV-2 Rapid Antigen Test SARS-Col-2 Rapid Antigen Test MORGENC GALENICA#52About Galenica Market environment Business performance Governance Sustainability Outlook Local Pharmacies: high frequency locations almost back to normal Net sales development of high frequency locations compared to pre-pandemic level 1) (indexed, Jan 2019 = 100%) January 2022: 120.0 26% below pre- pandemic level 110.0 (+9% vs. PY) 100.0 90.0 80.0 70.0 -2019 60.0 -2020 50.0 -2021 2022 40.0 Januar Februar March April May June July 08.08.2022 1 Net sales 2021 without the impact of COVID-19 initiatives 62 52 August September October November December June 2022: 12% below pre- pandemic level (+12% vs. PY) AMAVITA BAHNHOF APOTHEKE GALENICA#53About Galenica Market environment Business performance Pharmacies at home: continued strong growth Net sales (in million CHF) +16.1% 459 218 253 2021 H1 2021 H1 2022 Growth adjusted 2) +11.3% 08.08.2022 12 Including Amavita and SunStore mail-order pharmacies and webshops (without COVID-19 self-tests) Growth rate adjusted for one-off effect of a minor change in segment reporting 53 Governance Sustainability Outlook Key developments Growth related to sales in the area of rare diseases +16.2% MEDI SERVICE Apotheke Farmacia Pharmacie Continued growth of Bichsel HomeCare Services +5.0% bichsel Online sales¹) -12.5% AMAVITA+ +SUN STORE GALENICA#54About Galenica Market environment Business performance Governance Sustainability Outlook Products & Brands: exceptionally strong sales growth Net sales (in million CHF) 132 +26.0% 27 ■International 75 60 Swiss 13 market 104 13 62 46 2021 H1 2021 H1 2022 Expansion effect +32.0% +13.0% 08.08.2022 54 Key growth drivers VERFORA Triofan High demand for cough and cold medications & travel-related products Triofan C Expansion of product portfolio NATURE AND ANTI BR Algifor Liquid caps 400 buprofen 400 mg Schmerzmittel mit entrinding hemender und bebersenkender Wikurg 10 Weichgativekpoin VERFORA VICKS VICKS VapoRub VICKS VapoRub Sale Onguent " SPAGYROS Ribes nigrum 500 1E/Tropfen Vitamin D3 Wild 이 Cholecalorum Vitamin D3 Wild Cha WID GALENICA#55About Galenica Market environment Business performance Governance Sustainability Outlook Services for professionals: strong sales growth due to expansion Net sales (in million CHF) Expansion effect 08.08.2022 +18.3% 62 29 34 2021 H1 2021 H1 2022 +19.9% 55 Key developments Acquisition of Lifestage Solutions AG in H2 2021 Lifestage SOLUTIONS Strong growth of ~10% at Medifilm and Winconcept medifilm Winconcept Temporary production challenges at the Bichsel laboratories bichsel GALENICA#56About Galenica Market environment Business performance Governance Sustainability Outlook Wholesale: pleasing sales growth Net sales (in million CHF) 2'728 761 ■ Physicians +3.8% 1'329 1'379 ■ Pharmacies Others 1'793 372 393 +5.7% 873 900 +3.0% 175 2021 84 87 +3.7% H1 2021 H1 2022 1 Growth rate adjusted for one-off effect of a minor change in segment reporting 2 Impact of COVID-19 initiatives includes net sales of COVID-19 self-tests 08.08.2022 56 Key developments Adjusted growth¹) in physician segment +8.4% Growth in pharmacies segment (without COVID- 19 Initiatives²)) +7.8% Negative growth impact of COVID-19 Initiatives²) -3.1% SARS-CoV-2 Rapid Antigon Test 253 SARS-CoV-2 Rapid Antigen Test 25 SARS-CoV-2 Rapid Antigen Test - SARS-C-2 Rapid Antigen Test GALENICA#57About Galenica Market environment Business performance Governance Sustainability Outlook Logistics & IT services Net sales (in million CHF) 08.08.2022 112 +26.2% 64 51 2021 H1 2021 H1 2022 57 Key growth drivers Change in the billing of group-internal IT services in H2 2021 due to the new organisation structure Internal IT Services Projects & Consulting Software Development Infrastructure & Operations Enterprise Architecture & Data Analytics SAP Competence Center Security & Quality Customer & Service Mat. Sales growth with the expansion of digital services for the healthcare sector HCI Solutions GALENICA#58About Galenica Market environment Business performance Governance Sustainability Outlook Share information History of share price since IPO Share price performance in percent 80.00% 70.00% 60.00% IPO offer price CHF 39.00 Initial trade price 7 April 2017 CHF 43.00 50.00% 40.00% 30.00% 20.00% 10.00% 0.00% 07.04.17 31.12.17 08/08/22 Galenica 31.12.18 31.12.19 Swiss Performance Index (SPI) 58 31.12.20 31.12.21 Share price 30 June 2022 CHF 73.30 GALENICA#59About Galenica Market environment Business performance Governance Sustainability Outlook Share information Historical dividend per share and dividend yield¹ 08/08/22 3.3% 3.9% 3.1% 3.1% 3.0% 2.10 1.75 1.80 1.80 1.65 2017 2018 2019 Dividend per share Dividend yield 2020 2021 59 Dividend guidance: 50% of dividend payout from reserves from capital contributions (exempt from WHT) Dividend outlook 2022: at least same level as 2021 1 Gross dividend per share in relation to the share price at reporting date GALENICA#60Market environment Business performance Governance Sustainability Outlook About Galenica Share information Key figures in CHF Share price at reporting date Jun 2022 Dec 2021 73.30 68.55 Highest share price for the period 74.85 73.15 Lowest share price for the period 62.35 57.20 Market capitalisation at reporting date in million CHF 3,645.6 3,402.7 Earnings per share (1 Jan - 30 Jun) 1 1.67 1.60 Earnings per share adjusted (1 Jan - 30 Jun) 1,2 1.63 1.66 Shareholders' equity per share at reporting date 1 23.33 24.76 1 Attributable to shareholders of Galenica Ltd. 2 For details to the adjusted key figures refer to chapter Alternative performance measures in this Half year report 2022 08/08/22 60 GALENICA#61Governance Galenica - Health and wellbeing are at the heart of what we do. GALENICA#62About Galenica Market environment Business performance Governance Sustainability Outlook Shareholder structure Major shareholders (31 Dec 2021) Shareholders over 3%: Shareholders Number of shares Shares in % Proportion of shareholders by country (Dec 2021) in % 31% UBS Fund Management (Switzerland) AG, Switzerland 2,671,158 5.3 Alecta Pensionsförsäkring, Sweden 2,000,000 4.0 Credit Suisse Funds AG, 4% 1,626,752 3.3 Switzerland 2% 9% Swisscanto Fondsleitung AG, Switzerland 1,533,324 3.1 08/08/22 62 1% 53% ■ Switzerland UK ■ USA ROW ■SIS Dispos ■ Own shares GALENICA#63About Galenica Market environment Business performance Governance Sustainability Outlook Overview of our governance structure and instruments External advisory and inspection bodies / auditors Annual General Meeting Board of Directors Audit and Risk Committee (ARC) Corporate Executive Committee / Extended EC* CEO CFO Pharmacies Healthcare Remuneration Committee (RC) Governance, Nomination and Sustainability Committee (GNSC) Products & Marketing Wholesale & Logistics IT & Digital Services HR* Corp Comms* Legal & Board Services* Trans- formation* Sustainability Committee Consists of selected EC Members + Corporate Experts and Business Unit Managers Important Policies und management instruments Code of Conduct - Supplier Code of Conduct - Anti-Corruption Policy (since 2021) - - Quality Management System (QMS) - Whistleblower Reporting Office (since 2021) - Data Protection Policy IT Security Policy Security monitoring system 08/08/22 63 GALENICA#64About Galenica Market environment Business performance Governance Sustainability Outlook Board of Directors 08/08/22 Daniela Bosshardt Chairwoman Bertrand Jungo Vice Chairman - Elected since 2017 Pharmacist, Federal Diploma in Pharmacy, Federal Institute of Technology, Zurich (ETHZ) Member of the Board of Directors of Reprisk Ltd., (an Environmental, Social & Governance data science company) and EGS Beteiligungen Ltd. Elected since 2018 Business administrator lic.rer.pol., University of Fribourg Member of the Advisory Board of Neoperl Ltd. and Zoo Basel, delegate of the BoD of the Kulm- Group St. Moritz Pascale Bruderer Elected since 2020 Masters in political science, University of Zurich Member of the Board of Directors of Bernexpo Group, Tamedia and TX Group Ltd. Co-owner and member of the Executive Board of Crossiety Ltd. Prof. Hon. Dr. Michel Burnier Dr. Markus R. Neuhaus Dr. Andreas Walde Elected since 2017 Swiss-registered Doctor of Internal Medicine and Nephrology Honorary professor, University of Lausanne, Faculty of Biology and Medicine Member of the Board of Directors of Vifor Pharma Ltd. Elected since 2019 Master of law and doctorate in law from the University of Zurich Vice-Chairman of the BoD of Barry Callebaut AG and Orior AG and a member of the BoD of Baloise AG and Jacobs Holding AG. He also serves as Vice- Chair of the Board of Trustees of Avenir Suisse. Elected since 2017 Attorney-at-law and doctorate in law, University of Basel General Secretary of Vifor Pharma Ltd. Judith Meier Elected since 2022 Executive Master of Health Service Administration (Eastern Switzerland University of Applied Sciences), qualified physiotherapist. Vice Chairwoman of the Board of Directors of Zurzach Care AG 64 == GALENICA#65Market environment Business performance Governance Sustainability Outlook About Galenica Board of Directors Committees and competencies ARC (Audit and Risk Committee) RC (Remuneration Committee) Members: Markus Neuhaus (Chairman), Bertrand Jungo, Andreas Walde, Judith Meier Members: Andreas Walde (Chairman), Markus Neuhaus, Michel Burnier Budget/medium-term planning Risk management Compliance / internal audits Acquisitions/investments Salary policy, remuneration system GNSC (Governance, Nomination & Sustainability Committee) Members: Daniela Bosshardt (Chairwoman), Bertrand Jungo, Pascale Bruderer, Markus Neuhaus 08/08/22 65 STI / LTI Nominations, succession planning, HR topics Public affairs, health policy, general conditions ESG / sustainability GALENICA#66Market environment Business performance Governance Sustainability Outlook About Galenica Board of Directors Competencies and diversity Competencies Industry Experience Digitalisation Regulations/ Politics Leadership/ Big Corp. Finance/ Age of BoD members (Jun 2022) Bosshardt Bruderer Daniela Pascale Burnier Michel Jungo Bertrand Meier Judith Neuhaus Markus Walde Andreas 14% Pharmacy Healthcare Healthcare Retail Healthcare M&A Legal/ Compliance HR/ X Remuneration Sustainability 08/08/22 (x) Х (x) Х Х 66 X Х Х X 14% 15% 43% ■ 40-45 ■ 45 - 50 14% ■ 50 - 55 ■ 55 - 60 ■ 60-65 -65-70 Gender of BoD members (Jun 2022) X X 43% ✓ X 57% ■ male female GALENICA#67About Galenica Market environment Business performance Governance Sustainability Outlook Management structure Galenica Group PHARMAPOOL AMAVITASUN STORE coop care vitality product MEDI SERVICE bichsel medifilm. Lifestage SOLUTIONS SPAGYROS VERFORA Winconcept Galexis ufd Alloga HCI Solutions Praxiserprobt. Pharmacies* Virginie Pache Jeschka Healthcare* Daniela Madonna Products & Marketing* Thomas Szuran Wholecare & Logistics* Andreas Koch IT & Digital Services* Lukas Ackermann Finance* Felix Burkhard Human Resources** Marianne Ellenberger Corporate Communications** Christina Hertig Legal & Board Services** Barbara Wälchli CEO Galenica* Marc Werner * Executive Committee ** Extended Executive Comittee 1) Joint Venture with Coop 08/08/22 = GALENICA Transformation** Jürg Pauli 67 GALENICA#68About Galenica Market environment Business performance Governance Sustainability Outlook Executive Committee 08/08/22 Marc Werner CEO CEO since 2020 25 years industry experience Joined Galenica in 2020 Previously, Head Marketing & Sales division and Member of the Group Executive Board at Swisscom Thomas Szuran Products & Marketing Chief Products & Marketing Officer since 2021 25 years industry experience of which 3 years at Galenica Felix Burkhard CFO CFO since 2017 31 years industry experience of which 27 years at Galenica Previously, Head of Strategic Projects of Galenica Group and Head of Retail Business Sector Andreas Koch Wholesale & Logistics - Head of Wholesale & Logistics since 2021 22 years industry experience of which 13 years at Galenica Virginie Pache Jeschka Pharmacies Chief Pharmacies Officer since 2021 17 years Marketing and Sales Manager experience of which 3 years at Galenica Previously CEO of Coop Vitality AG Lukas Ackermann IT & Digital Services - - Head of IT & Digital Services since 2021 23 years health care experience of which 3 years at Galenica Daniele Madonna Healthcare Chief Healthcare Officer since 2021 19 years industry experience of which 18 years at Galenica Previously Head of Retail Business Sector 68 GALENICA#69About Galenica Market environment Business performance Governance Sustainability Outlook Remuneration Responsibility for the remuneration process 1 Level of authority Remuneration policy Performance objectives for short-term bonus and long-term remuneration CEO Remuneration Committee Board of Directors Annual General Meeting proposes proposes approves approves Individual performance objectives for short-term bonus proposes (except for his own objectives) proposes (CEO) approves (Executive Committee) approves (CEO) Remuneration of members of the Board of Directors Remuneration of the CEO Remuneration of members of the Corporate Executive Committee 08/08/22 = CBD Chair of the Board of Directors proposes proposes proposes (in consultation with the CBD1) approves (in consultation with the CBD1) 69 approves approves is informed consultative vote on the Remuneration report approves maximum possible remuneration for Board of Directors for the following year approves maximum possible remuneration for the Corporate Executive Committee including the CEO for the following year GALENICA#70About Galenica Market environment Business performance Governance Sustainability Outlook Remuneration Remuneration components - The remuneration components of the Corporate Executive Committee (EC) consists of a fixed compensation, benefits and a variable compensation. The variable remuneration consists of a short-term incentive (STI) and a long-term incentive (LTI). At least one of the individual objectives in the STI refers to ESG topics identified in the sustainability strategy of Galenica. The full LTI and a portion of the STI (32%) is awarded in Galenica shares. STI Per year 25% individual objectives LTI incl. ESG 50% average GEP 50% GEP 50% TSR 08/08/22 NOPAT Cost of capital Goal: continuously increasing GEP II GEP GEP GEP 25% annual net sales growth Duration 3 years Performance measurement: GEP and TSR - - Galenica Economic Profit (GEP) is calculated as the Net operating profit after tax (NOPAT) less the average cost of capital (WACC) over the average invested capital. Relative Total Shareholder Return (TSR) is measured as a percentile ranking against a peer group of relevant companies. The objective is to outperform half of the peer companies (100% payout). 70 GALENICA#71Sustainability Galenica - Health and wellbeing are at the heart of what we do. GALENICA#72Market environment Business performance Governance Sustainability Outlook About Galenica Sustainability at Galenical Overview Sustainability guidelines Enterprise value Long-term increase in the value of the company through sustainable practices Employees Commitment of employees to act responsibly and to ensure a safe, flexible and supportive working environment Resource efficiency The respectful and efficient use of resources and reduction of negative environmental impacts Reporting - - First Report in accordance with GRI Standards in 2021: www.galenica.com... CDP Report: www.cdp.net... Annual Report 2021: www.galenica.com... Sustainable Development Goals (SDGs) The Galenica Group is committed to the SDGs and makes an important contribution to the following objectives in particular: 3 GOOD HEALTH AND WELL-BEING 5 GENDER EQUALITY 8 12 W RESPONSIBLE CONSUMPTION AND PRODUCTION DECENT WORK AND ECONOMIC GROWTH 10 REDUCED INEQUALITIES 13 CLIMATE ACTION 15 LIFE ON LAND 16 PEACE, JUSTICE AND STRONG INSTITUTIONS 08/08/22 GO 72 GALENICA#7308/08/22 About Galenica Sustainability at Galenica Matrix of the main topics Market environment Business performance Governance Sustainability Outlook Relevance and impact Relevance (internal and external) moderate medium high Occupational health and safety Patient safety Retention of qualified employees and health Compliance Data protection IT security, cybercrime Employee motivation and development Emissions/ climate change Waste, recycling Diversity and equal opportunities Corporate Governance moderate medium Economic responsibility Social responsibility Environmental responsibility 73 high Reliable procurement and supply chain Impacts on the economy, environment and society GALENICA#74About Galenica Market environment Business performance Governance Sustainability Outlook Sustainability at Galenical Our focus areas for sustainable business practice Corporate governance Ethical and legal business activities - Protect patient data and IT systems Employees - Promote employee motivation and development Ensure occupational health and safety - Retain qualified employees - Promote diversity and equal opportunity 08/08/22 74 Patients - Increase patient safety and health Ensure the availability of medicinal products Environment - Reduce and safely dispose of waste Minimise greenhouse gas emissions GALENICA#75About Galenica Market environment Business performance Governance Sustainability Outlook Sustainability at Galenica Our sustainability goals Corporate governance Ethical and legal business activities We train all employees in compliance at least once a year. Protect patient data and IT systems - We make our employees aware of IT security and cybercrime. - Twice a year, we carry out measures to raise employee awareness in the area of data protection. A Performance 2021 IT security trainings in 2021 for Galenica employees 2 Corruption cases in 2021 Participation rate of eLearnings in the area of IT security and cyber crime 88% 0 Material fines or sanctions in 2021 0 08/08/22 75 GALENICA#76About Galenica Market environment Business performance Governance Sustainability Outlook Sustainability at Galenica Our sustainability goals Patients Increase patient safety and health - We will expand the use of the e-Mediplan in Galenical pharmacies by 10% a year until 2023. - We will make patient information on all Algifor products available online in five other languages that are relevant for Switzerland by 2022. Ensure the availability of medicinal products We will review the compliance of our top ten suppliers with the Supplier Code of Conduct every three years from 2025. Performance 2021 Average availability of medicine 1) 99.6% Compliance with deadline for forwarding reports of side effects to the authorities or contractual partners (Verfora) 100% Amount of Primary Care offers in Galenica pharmacies 28 Monthly Clinical Decision Support (CDS) checks based on e-mediplan performed by HCI Solutions in Dec 2021 9 million 08/08/22 1 Galenica's logistics companies manage to make and keep more than 99% of medicines available throughout Switzerland within 24 hours. 76 GALENICA#77Market environment Business performance Governance Sustainability Outlook About Galenica Sustainability at Galenica Our sustainability goals Environment Reduce and safely dispose of waste We will reduce our municipal waste by 50% by 2025. Performance 2021 CO₂ emissions based on scopes 2017-2021 tCO₂e 15,000 12,500 Minimise greenhouse gas emissions 10,000 From 2025, we will be sourcing 100% of our electricity from renewable sources at all our locations. 7,500 - We will reduce the greenhouse gas emissions produced by all our operations, processes and supply chains by 25% by 2025 and by 50% by 2030. - We will replace 40% of the fossil fuels in our vehicle fleet with renewable alternatives by 2028. 5,000 2,500 08/08/22 0 2017 2018 2019 2020 2021 Other indirect (Scope 3) GHG emissions: downstream transport and distribution Indirect (Scope 2) GHG emissions: purchased electricity Direct (Scope 1) GHG emissions: fuels and combustibles Share of energy from renewable sources in 2021 44% CO2 emissions compared to PY like-for-like¹) -1% Share of recycled waste 41% 77 1) Development of CO2 emissions of Galenica Group adjusted for data expansion effects GALENICA#78About Galenica Market environment Business performance Governance Sustainability Outlook Sustainability at Galenical Our sustainability goals. Employees Promote employee motivation and development We will increase the motivation rate of our employee survey to 75 out of 100 points and the participation rate to 75% by 2024. Ensure occupational health and safety We will reduce the absence rate for occupational and non- occupational accidents by 10% by 2024. We will reduce the absence rate due to mental illnesses by 5% by 2024. Retain qualified employees We will reduce the time to hire for IT and pharmacy positions by 10% by 2024.* Promote diversity and equal opportunity - We will improve diversity, in particular gender equality, ― in all Service Units by 2024. We will maintain the proportion of women in management at 50%. * Already 15% below the benchmark (90 days) 08/08/22 78 Performance 2021 Employee motivation rate 71/100 points Change in work-related accidents vs. 2020 -10% Time-to-hire of IT-specialists and pharmacists compared to benchmark (90 days) -15% Percentage of women in management 52% GALENICA#79About Galenica Market environment Business performance Governance Sustainability Outlook ESG Ratings Rating-Agentur SUSTAINALYTICS a Morningstar company (September 2021) Rating 2021/2022 ESG Risk NEGL LOW MED HIGH SEVERE Percentile Top 2% (Global Universe) 0% 100% Absolute Rating Top 30% (Industry) D- D D+ C- C C+ B- B+ A- A A+ ISS ESG‣ (April 2022) Transparency Level 0-20% 20-40% 40-60% 60-80% 80-100% 0% 100% MSCI ESG RATINGS (June 2021) CDP (September 2021) 08/08/22 CCC B BB BBB A AA AAA A A- B B- C C- D D- Upper 47% (Industry) 0% Lower 44% (Industry) 0% 79 Comment - Ranking number 5 among 605 Healthcare companies Very good scores in Business ethics, Data privacy and security, and Carbon emissions in own operations Improved score since last rating (from 30.8 to 35.5) due to higher transparency in Annual Report, but overall Rating unchanged at C- Above average in Product safety - Room for improvement in Supply chain management 100% 100% - - Very strong absolute scoring in the environmental pillar Very strong relative scoring in the governance pillar as compared to the industry average Room for improvement in product safety & quality Average performance industry: C Average performance Europe/Global: B/B- Room for improvement: Scope 3 emissions GALENICA#80Outlook Galenica - Health and wellbeing are at the heart of what we do. GALENICA#81About Galenica Market environment Business performance Governance Sustainability Outlook Outlook Products & Care Continuous optimisation and expansion of the pharmacy network (offline and online) Qualitative improvement of online shops Investment in physical shopping experiences "Primary Care" module from DocumedisⓇ - Additional algorithms for treating common ailments Target: Inclusion in insurance models of health insurance companies Expansion of the new Sun Store store concept to additional pharmacies and introduction of a new Sun Store customer loyalty programme in 2022 Intensify collaboration between Bichsel, Mediservice, Medifilm and Lifestage Solutions AG to further improve offerings for homecare organisations and nursing homes Winconcept will launch a new partnership model for independent pharmacies and drugstores in 2022 and is celebrating its 20th anniversary 08/08/22 Priorities 2022 81 GALENICA#82About Galenica Outlook Logistics & IT Market environment Business performance Governance Sustainability Outlook "E-prescription" pilot project by HCI Solutions and AD Swiss Net to be tested further with further partnerships and brought to market maturity Alloga: Launch of the new ERP system to be completed Galexis: Roll-out of the new ERP system to be driven forward step by step in order to minimise risk Opening of the modernised Lausanne- Ecublens distribution centre in the second half of 2022 Implementation of measures to achieve the sustainability goals is a top priority Further pilot projects with alternative drive systems for delivery vehicles Set-up of charging infrastructure for electric company vehicles at relevant locations 08/08/22 Priorities 2022 82 GALENICA#83About Galenica Guidance 2022 08/08/22 Market environment Business performance Governance Sustainability Outlook Updated guidance 2022: → Galenica Group net sales +2% to +4% (previously: at least on prior year level) → EBIT adjusted ¹) +8% to +12% (previously: +5% to + 10%) excluding the extraordinary results from the COVID-19 initiatives (CHF 25 million) and the property sale (CHF 9.4 million) → Dividend 2022 at least same level as 2021 (unchanged) 83 GALENICA#84About Galenica Market environment Business performance Governance Sustainability Outlook Mid-term guidance - ― - Thanks to - consistent implementation of the strategic programmes and - further expansion and optimisation of the pharmacy network and the Verfora product portfolio, Galenica plans to grow faster than the market (expected market growth in the next few years +1% to +2%) and Galenica expects to increase its return on sales (ROS) in the medium term, i.e. in two to four years (2024 2026), - - to over 8% in the Products & Care segment - and to up to 2% in the Logistics & IT segment. Galenica continues to pursue a policy of at least stable dividends that grow in line with results and continues to aim for net debt in the order of +/- 2 X EBITDA (adjusted for leasing in accordance with IFRS 16) in the medium term. 08/08/22 84 GALENICA#85About Galenica Market environment Business performance Governance Sustainability Outlook Reasons to invest in Galenica Unique combination of defensive resilience and significant growth ... Defensive resilience 1. Stable and attractive Swiss healthcare market with favourable long-term fundamentals 2. #1 health and well-being provider with systemic relevance History of growth 3. Significant operational advantages from integrated, synergistic and efficient operations 4. Long-term track record of sustainable growth and attractive cash generation Strategic focus 5. Proven strategy to leverage market leadership positions to deliver longer- term upside 6. Strong commitment to strategic programmes to shape Galenica for the future 08/08/22 Highly experienced management team with proven track record provides investors with potential for upside and attractive cash generation 85 GALENICA#86About Galenica Market environment Business performance Governance Sustainability Outlook Galenica Group - Contact information Investor Relations Felix Burkhard CFO Tel.: +41 58 852 85 29 Julian Fiessinger Head of Investor Relations and Corporate Finance Tel.: +41 58 852 85 37 Mail: [email protected] 08/08/22 86 GALENICA#87About Galenica Market environment Business performance Governance Sustainability Outlook Disclaimer Disclaimer Galenica Certain statements, beliefs and opinions in this presentation are forward-looking, which reflect the Company's or, as appropriate, the Company's directors' current expectations and projections about future events. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. A multitude of factors including, but not limited to, changes in demand, competition and technology, can cause actual events, performance or results to differ significantly from any anticipated development. Forward-looking statements contained in this presentation regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. As a result, the Company expressly disclaims any obligation or undertaking to release any update or revisions to any forward-looking statements in this presentation as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward-looking statements are based. Neither the Company nor its advisers or representatives nor any of its of their parent or subsidiary undertakings or any such person's officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this presentation or the actual occurrence of the forecasted developments. You should not place undue reliance on forward-looking statements, which speak only as of the date of this presentation. Disclaimer IQVIA The analyses, their interpretation, and related information contained herein are made and provided subject to the assumptions, methodologies, caveats, and variables described in this report and are based on third party sources and data reasonably believed to be reliable. No warranty is made as to the completeness or accuracy of such third-party sources or data. In all cases where historical results are presented or past performance is described, we note that past performance is not a reliable indicator of future results and performance. Copyright ©2022 IQVIA. All rights reserved. IQVIA® is a registered trademark of IQVIA Inc. in the United States and various other countries. 08/08/22 87 GALENICA