#1THE imp að MANIFESTO Touching a billion lives through affordable innovation Biocon INVESTOR PRESENTATION Q3FY21 | January 2021#2Safe Harbor Statement $ Biocon THE Certain statements in this release concerning our future growth prospects are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those contemplated in such forward-looking statements. Important factors that could cause actual results to differ materially from our expectations include, amongst others general economic and business conditions in India, our ability to successfully implement our strategy, our research and development efforts, our growth and expansion plans and technological changes, changes in the value of the Rupee and other currencies, changes in the Indian and international interest rates, change in laws and regulations that apply to the Indian and global biotechnology and pharmaceuticals industries, increasing competition in and the conditions of the Indian biotechnology and pharmaceuticals industries, changes in political conditions in India and changes in the foreign exchange control regulations in India. Neither the company, nor its directors and any of the affiliates have any obligation to update or otherwise revise any statements reflecting circumstances arising after this date or to reflect the occurrence of underlying events, even if the underlying assumptions do not come to fruition. Touching a billion lives through affordable innovation 2#3Biocon is a global biopharmaceutical company that is leveraging its affordable innovation model to reduce disparities in access to safe, high- quality medicines, as well as, address the gaps in scientific research to find innovative solutions to impact a billion lives. GENOMIC INSPIRATION yar trakke Biocon 3#4The Biocon Manifesto THE 맛 As a committed stakeholder of the global health agenda under the UN Sustainable Development Goals (SDGs), Biocon has drawn up a manifesto to deliver on its commitment to universal healthcare. B • accessibility Use our science, scale and expertise to enhance access to essential drugs for patients on the lowest rung of the economic ladder Uncover new medical insights aimed at expanding the scope of therapy to address unmet needs affordability • • Focus on the kind of innovation that adds the condition of affordability to accessibility Bring competition for expensive innovator medicines through our generics and biosimilars availability Build strategic global and regional partnerships to make high-quality biopharmaceuticals available to the maximum number of people Create a robust portfolio of 'blockbuster' drugs with the potential to benefit a billion patients assurance Demonstrate the highest levels of ethics, compliance and governance Assure continuous supply of high-quality products conforming to international regulatory standards Touching a billion lives through affordable innovation $ Biocon 4#5The Biocon Journey: A Continuous Evolution THE An 1978- 1999 Enzymes Company 2005- 2010- 2016- 2019 & 00-000 2000- 2004 Transforming into a Biopharma Company Successful IPO, Biocon listed in India (2004) 2009 Building the Base Business and Expertise in Biologics Enzymes Business Divested (2007) Global 2015 Strategic Global Alliance with Mylan for Biosimilars Expanded (2013) Generic Formulations Development of Biosimilars in Partnership with Mylan (2009) Business Unit set up (2013) IPO of Syngene (2015) 2018 Commercialized Biosimilars for Diabetes & Cancer in Japan, U.S., EU Global Partnership with Sandoz for Next- Gen Biosimilars (2018) Beyond Poised for Global Impact with Biosimilars Investments in complex Generic Formulations $ Biocon Touching a billion lives through affordable innovation Unwavering focus through the years on innovation & difficult to make, niche products to create tangible differentiators for sustainable growth 5#6Biocon Today: Strategically poised for a strong global play 30 Rs 65,286 Mn Revenue* 12,000+ Total Employees* 1,200+ Patents 03 25+ CGMP approvals from International regulatory agencies THE 120+ Countries where our products are available Ranked 5 Among Top 10 Global Biotech Employers by Science magazine *FY20 uching a billion es through affordable innovation 侈 $ Biocon 6#7THE Touching a billion lives through affordable innovation Business Segments الأحمر Biocon#8Growth Verticals: Aligned With Shifting Paradigms $ Biocon From pipeline to production, from drug discovery to drug delivery, we bring differentiated, high-quality and affordable healthcare products & services globally. Biocon GENERICS Biocon Biologics BIOSIMILARS Syngene RESEARCH SERVICES BICARA therapeutics NOVEL BIOLOGICS THE m Ensuring access through quality, affordability, reliability Expanding access through innovative, inclusive healthcare solutions Partnering to deliver innovative scientific solutions Pushing scientific boundaries to deliver impactful innovations Touching a billion lives through affordable innovation 8#9Generics Business- Investing into capacities and capabilities for the future growth $ . • THE Biocon Differentiated API business 5 state-of-the-art facilities across Bangalore, Hyderabad and Visakhapatnam in India to manufacture high quality products with reliability and efficiency. Expertise in fermentation technology, large scale chromatography and synthetic chemistry gives us a key competitive edge in APIs. Among the world's largest manufacturers of immunosuppressant and statin APIs 1,000+ customers in 100+ countries including the U.S, Europe and large emerging markets, with a track-record of excellence for over 20 years. • . • -TH ±88 Growing Formulations Footprint Solid oral & parenteral products in both potent & non-potent categories Focus therapeutic segments - Metabolics, Oncology, Immunology & Auto-immune indications Generic Tacrolimus, Rosuvastatin, Simvastatin & Atorvastatin launched in the United States Entered partnerships to expand Generic Formulations footprint in China, Singapore, Thailand Regulatory licenses received from MHRA for import and distribution of our formulations in UK 1000+ Customers Touching a billion lives through affordable innovation 280+ Patents Obtained 50% . . • • Global MS in orlistat API & world's leaders in immunosuppressants Investments for future growth Expanding our R&D capabilities for newer fermentation-derived and chemical synthesis- based molecules. Focus on developing niche, difficult-to- make, complex molecules with relatively higher entry barriers. Investing Rs. 6 billion in greenfield, fermentation-based manufacturing facility in Visakhapatnam, Andhra Pradesh Focus on adopting best-in-class quality practices and implement digital processes in our quality and related functions Retaining leadership in key APIs with structured cost improvement programs 800+ Metric ton cumulative weight of APIs supplied annually 9#10ΤΗΣ Biocon Biologics- Making Global Impact with Biosimilars MANIFE Biocon Biologics Portfolio Development Stage Therapeutic Areas 'Pure Play' Biosimilars Company Molecule Pegfilgrastim US Trastuzumab Oncology Bevacizumab Pertuzumab Fully integrated - lab to market Adalimumab* Etanercept* Immunology Undisclosed Undisclosed Global Footprint (120+ countries) Strong collaborations (Viatris & Sandoz) Diabetes Ophthalmology Bone Health Glargine** 100U Glargine 300U Aspart RHI^^ Undisclosed Undisclosed Undisclosed Europe Most of World^^ $ Originator WW 2019 Net Sales ($ Bn) Biocon -20 Early Dev./ Preclinical -37 Clinical Filed ~13 Approved / Commercialised -8 -5 Commercial infrastructure in India (BFI) 28- Portfolio Products 7 Commercial Products *Partner Viatris has in-licensed product (Biocon benefits from economic interest); **Japan is outside of Viatris partnership; ^RHI completed Ph1 and considering potential Ph-3 waiver to be confirmed with FDA advice, shown as Planned submission. Note: Viatris is responsible for commercialisation of all the disclosed products mentioned above except RHI in US and EU. "Chart represents the status of the country where the product is in most advanced stage. Every country has a different status 30 2 R&D sites (2 Bengaluru, 1 Malaysia) Manufacturing sites 25+1 CGMP approvals (incl. FDA & EMA) Touching a billion lives through affordable innovation 10#11Novel Molecules: Pushing scientific boundaries to deliver impactful innovations THE Disease Area Diabetes Inflammation Immuno- oncology Touching a billion lives through affordable innovation Asset Insulin Tregopil- a first-in-class oral, prandial Insulin Itolizumab- A novel humanized CD6 antibody $ Biocon Current Progress Phase I multiple ascending dose studies in Type 1 DM patients making good progress in Germany. This trial is in partnership with the US-based Juvenile Diabetes Research Foundation (JDRF), a leading non-profit organisation. • Phase 1 component of this trial expected to be completed in FY22 • US, Canada, Australia and New Zealand rights out-licensed to the US-based Equilluim Inc. Currently, Equillium is conducting clinical trials on the use of Itolizumab in the treatment of acute graft-versus-host disease (aGVHD), uncontrolled asthma and lupus nephritis. In 2020, Itolizumab was repurposed for the prevention and treatment of COVID-19 complications and we were granted Restricted Emergency Use approval in September 2020 for the treatment of Cytokine Release Syndrome (CRS) in moderate to Severe Acute Respiratory Distress Syndrome (ARDS) patients in India. Additional data is being collected as part of Phase 4 (post-marketing study) and Real-World Evidence (RWE) from COVID-19 patients. BCA101- (formerly FmAb2, a first-in-class EGFR / TGFß-trap bifunctional antibody). This asset is part of Bicara Therapeutics, a wholly owned subsidiary of Biocon and a clinical-stage biotechnology company based in US . Entered a Phase 1/2 study at leading US and Canadian cancer centers in July 2020. Under evaluation, both as a single agent and in combination with the checkpoint inhibitor Pembrolizumab, in patients with advanced EGFR-driven solid tumors, who no longer respond to the standard of care. Bicara anticipates transitioning to dose expansion studies in the second half of 2021. 11#12Research Services (Syngene): A global CRO delivering innovative solutions $ THE small Offering integrated research, development and manufacturing services for both and large molecules, antibody-drug conjugates and oligonucleotides backed by best-in-class bioinformatic services Combining world class research expertise, technology and infrastructure to reduce costs and time to market Talented scientific and techno-commercial teams, led by experienced management, moving beyond cost arbitrage to innovation. World class infrastructure audited successfully by US FDA, EMA, AAALAC and major life sciences partners 360+ active marquee clients across multiple sectors World-class R&D and manufacturing infrastructure spread over 1.9 million square feet 5000+ strong pool of employees, 4,200+ scientists Strong track record of top-line growth with best-in-class EBITDA margins (30+%) and Net Profit margin (high teens to low 20's) Listed in India on BSE and NSE in 2015 Touching a billion lives through affordable innovation Biocon 12#13THE Touching a billion lives through affordable innovation Financial Highlights الأحمر Biocon#14Q3FY21 and 9MFY21 Financial Highlights $ Biocon Particulars1 Q3 FY21 Q3 FY20 Growth 9M FY21 9MFY20 Growth Total Revenue 1,879 1,753 7% 5,323 4,841 10% EBITDA 427 480 (11%) 1,266 1,383 (8%) EBITDA Margin 23% 27% 24% 29% Core EBITDA Margin 31% 34% 32% 34% Net Profit² 169 206 (18%) 497 645 (23%) Net Profit 169 203 (17%) 487 625 (22%) Net Profit Margin Gross R&D Spends 9% 12% 183 155 18% 491 388 27% 171 131 30% 426 314 35% R&D Expenses in P&L 1. All Figures in Crore except % 2. Net Profit before exceptional item and discontinuing operation Touching a billion lives through affordable innovation 14#15Revenue by Segments Generics Biosimilars $ Biocon Income1 Q3 FY21 Q3 FY20 Growth 9M FY21 9MFY20 Growth 561 576 (3%) 1,758 1,645 7% 769 693 11% 2,137 1,882 14% Novel Biologics Research Services 585 519 13% 1,526 1,405 9% Revenue from Operations 1,851 1,717 8% 5,267 4,743 11% Other Income 28 36 (22%) 56 98 (43%) TOTAL REVENUE 1,879 1,753 7% 5,323 4,841 10% 11 9 32 23 THE *Licensing Income 1. All Figures in Crore except % Touching a billion lives through affordable innovation 15#16Key Segment wise highlights $ Biocon Segment revenue Q3 FY21 Q3 FY20 Q2 FY21 9M FY21 9M FY20 FY 20 a. Generics 561 576 599 1,758 1,645 2,207 b. Biosimilars 769 693 676 2,137 1,882 2,315 C. Novel Biologics d. Research services 584 519 520 1,526 1,405 2,012 Total 1,914 1,788 1,794 5,421 4,931 6,534 Less: Inter-segment revenue (63) (71) (50) (154) (188) (234) Income from continuing operations Segment results 1,851 1,717 1,745 5,267 4,743 6,301 a. Generics 54 91 75 228 267 338 b. Biosimilars 111 143 81 297 433 428 C. Novel Biologics (51) (34) (31) (102) (86) (104) d. Research services 116 107 94 277 293 446 Total 229 307 219 700 907 1,108 Less: Other un-allocable items, net (7) (11) (4) (11) (28) (40) Profit before tax 236 318 223 711 935 1,147 Capital Employed a. Generics 3,961 2,652 3,018 3,961 2,652 2,836 THEb. Biosimilars C. Novel Biologics d. 1,576 2,333 2,345 1,576 2,333 2,394 (165) (53) (115) (165) (53) (73) Research services 2,617 2,180 2.461 2,617 2,180 2,174 7,988 7,113 7,709 7,988 7,113 7,330 e. Un-allocable 116 171 115 116 171 53 Total capital employed 8,104 7,284 7,824 8,104 7,284 7,383 1. All Figures in Crore except % 16#17f in Thank You INVESTOR RELATIONS CONTACT: Ankit Gupta, Biocon Limited Tel: +91 813 092 3253 Email: [email protected] Nikunj Mall, Biocon Biologics Limited Tel: +91 998 777 4078 Email: [email protected] Biocon www.biocon.com 17