#1L LUPIN EMPOWERING HEALTH Investor Presentation Q1 FY24 August 4, 2023#2Q1 FY24 Performance LUPIN#3Q1 FY24: Key Growth Metrics Continued focus on meaningful and profitable growth Key Metrics Business Performance OXEA 47,421 mn Revenue India 16,384 mn 10% YoY 11% QoQ 32% YoY 10% QoQ 8,791 mn EBITDA¹ 18.5% Margin Growth Markets 4,066 mn 4% YoY 7% QoQ 269% YoY 43% QoQ 4,523 mn Mil Net Income 9.5% margin 5% QoQ API 3,371 mn EU INR mn North America 15,905 mn 57% YoY 3% QoQ EMEA 3,987 mn 20% YoY 12% QoQ ROW 1,656 mn 91% QoQ 32% YoY 5% QoQ 85% YoY Note: 1. EBITDA margin is 14.4% Excluding NCE, Forex and Other Income; Arrows indicate Growth / degrowth LUPIN 3#4Q1 FY24: Key Developments Significant positive momentum on all fronts Financials Sales and Adj. EBITDA* Margin Trajectory 40,912 42,446 43,303 36,040 Pipeline gTiotropium approved 47,421 Compliance 13.9% 14.4% 12.2% 10.6% US FDA 4.5% TGA Q1 FY23 FY23 Q2 Q3 Q4 Q1 FY23 FY23 FY24 Australia Sales EBITDA margin * excludes NCE, Fx and Other Income Other Agencies US FDA, TGA and Canada gDarunavir launched LUPIN With 180 day exclusivity Successful Nagpur OSD inspection Received EIR for Pithampur Unit-2 with Resolution of Warning letter Completed Nagpur Unit-2 and Mandideep Unit-1 inspections with no critical observations Successful inspections from Germany and other authorities 4#5Q1 FY24 Financial Snapshot Sales Mix (ex NCE income) Revenue (INR mn and %) Key Financials INR in mn India, 16,384, 35% North Q1 FY24 Q4 FY23 Q1 FY23 America, 15,905, 34% Sales 47,421 43,303 36,040 NCE Income, 2,053,4% 47,421 mn Growth Markets, EBITDA 8,791 6,150 2,379 4,066,9% API, 3,371, 7% EMEA, ROW, 1,656,3% 3,987,8% PBT 5,588 2,585 23 LUPIN 5#6India: Bouncing Back India Prescription business has grown >13% ex Cidmus and NLEM impact in Q1 FY24 India Sales (INR mn) 15,841 14,920 15,213 16,384 14,786 Q1 FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 • Cardiac and Respiratory are back on growth trajectory Al, Respiratory and Gynaecology reported double-digit growth in Q1 FY24 . • LUPIN Leveraging therapy leadership by adding 6 new divisions #2 rank Respiratory #3 rank #3 rank Diabetes Care Cardiac ~7,000 Total MEs¹ and ~9,100 total sales force Launched "Uday" division to cater to extra Urban Continued launch momentum with 4 new introductions in the quarter New Introductions Three therapies - Cardiac, Anti Diabetes and Respiratory are above INR 10 bn in sales 1 in Diabetes Care 1 in Cardiac J2 in respiratory Lupin grew at par with the market at 8.5% in Q1, ex- inlicensed portfolio Poised to launch >21 products in FY24 6#7North America: Gaining Momentum Growing Respiratory portfolio Leadership: Delivering 5.2% TRX Gx volume of the U.S.1 New product sales driving US growth ($ mn) DE 177 159 175 181 R #3 #1 21.8% in the US1 in 41 products² Albuterol market share Maintaining leadership Top 3 in 109 products² Q2FY23 Q3FY23 49% YoY Q4FY23 Q1FY24 3% QoQ In generics • Q1 FY24 Key Highlights Continued focus on profitable growth Continued strength in Q1FY24 with FTF gDarunavir launch and gSpiriva approval USFDA Inspections: Successful Nagpur OSD inspection and EIR for Pithampur Unit 2 Note: 1. IQVIA Qtr Gx Jun-23 by prescriptions 2. IQVIA Qtr Mar-23 NSP data LUPIN 41.0% Arfomoterol market share Brand + generic • Evolving Complex Product Portfolio through investments in Injectables and Inhalation Current pipeline includes 54 FTFs incl. 21 exclusive FTFs Substantial investments in Inhalation, Injectables and Biosimilars pipeline and capabilities (Development and Manufacturing) 30+ strong pipeline of Injectables and 22+ strong inhalation pipeline 7#8Other Markets: Key Highlights Other Key Markets driving growth Emerging Markets: Steady growth EU EU • Luforbec, Namuscla and levetiracetam growing Brazil Completed Medisol acquisition in France 8th largest generics player¹ South Africa 5% YoY growth to reach ZAR 295 mn sales in Q1 FY24 Mexico 4th largest generics player² Australia SCP acquisition performing well API + Global Institutional · • Note: 1. IQVIA May 23 by sales 2. IQVIA Midas Sales Audit Mar-23 BRL 75 mn sales in Q1 FY24 (growth of 30% YoY) driven by ibuprofen & acquired portfolio In reference market, ranks 2nd3 Recorded 59% YoY decline with MXN 86.2 Mn, due to impact of stock-outs Philippines YoY growth in 7% driven by renal, women's health API revenues grew 32% YoY in Q1 FY24 due to core API business growth Continued leadership in anti-TB Institutional business and increasing ARV registrations 3. IQVIA MAT May-23 LUPIN 8#9Key Financial Metrics: Quarterly Trend R&D (INR mn) Capex (INR mn) Net debt/Equity 3,679 1,540 1,555 3,376 1,502 3,050 0.27 2,896 1,171 0.25 8.3% 7.8% 6.8% 7.0% 3.8% 3.7% 3.5% 2.6% 0.20 0.10 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 FY23 FY23 FY23 FY24 IR&D (INR Mn) -R&D (% of Sales) FY23 FY23 FY23 ICapex (INR Mn) FY24 Q2 FY23 Q3 FY23 Q4 Q1 FY23 FY24 -Capex % of Sales LUPIN 9#10P&L Highlights Q1 FY24 Amount in INR mn Q1FY24 % of Sales Q4FY23 % of Sales QoQ Growth Q1FY23 % of Sales YOY Growth Sales 47,421 100.0% 43,303 100.0% 9.5% 36,040 100.0% 31.6% Other operating income 719 1.5% 998 2.3% -27.9% 1,399 3.9% -48.6% Total revenue 48,141 101.5% 44,301 102.3% 8.7% 37,438 103.9% 28.6% Gross Profit (excl. other operating 31,013 65.4% 25,803 59.6% 20.2% 19,941 55.3% 55.5% income) EBITDA PBT 8,791 18.5% 6,150 14.2% 42.9% 2,379 6.6% 269.6% 5,588 11.8% 2,585 6.0% 116.2% 23 0.1% NM Profit after Tax 4,533 9.6% 2,424 5.6% 87.0% (868) -2.4% NM Profit/(Loss) for the period 4,523 9.5% 2,360 5.4% 91.7% (891) -2.5% NM NM: Not Meaningful LUPIN 10#11Lenovo LLINMONT427 Lupin at a Glance J LUPIN#12Lupin Today Operating from a position of strength Global Presence 13th Local Leadership LUPIN Largest Generic Company 3rd Largest in the US India Pharma 6th Market 37% INDIA (by prescriptions³) Geographically Diverse (FY23 Sales) 8% Developed Markets (by sales³) 8th Brazil and Mexico (by sales¹) $2 bn Annual sales in FY23 $233mn EBITDA in FY23 21,300+ Lupinytts Reaching lives in 100+ countries Largest 4th Australia Gx (by sales) With Global Infrastructure And Growing Sustainably² ~13% reduction in Scope 1 and 2 emissions Adding 22MW Renewable energy capacity in FY24 15 Manufacturing 7 Sites R&D Sites Renewable energy share of ~5% across India, the US, Netherlands, Largest South 32% US 14% Africa Gx (by sales³) Emerging 7% Developing Adjacencies Markets ΑΡΙ 1 Global ranking based on LTM Mar23 sales | 2 Reduction from base of FY230 13 IQVIA Qtr Jun-23 14 IQVIA MAT Mar-23 15 IQVIA MAT may-23 12#13Vision A pharmaceutical company focused on delivering high quality medicines to patients around the world LUPIN United States Evolving portfolio and pipeline in Complex platforms (Inhalation, Biosimilars and Injectables) Scaled product platforms in legacy oral, ophthalmic and dermatology Global Developed Markets India Region Global operational efficiency and presence driving leverage on CAPEX and R&D across the platforms through markets with similar regulatory regimes (UK, Europe, Canada and Australia) Delivering innovative brands at above market Growth through organic and in- organic means, as well as establishing strategic market adjacencies Other Emerging Markets Global reach and scale positions us as a partner of choice in South Africa, Brazil, Mexico, Philippines Enhancing Access to Medicines in anti-TB in low and middle income nations Continuous Improvement Culture Best in Class Global Quality ΑΡΙ Meaningful scale achieving competitive costs to serve internal as well as external customers and contribute meaningfully to Global Public Health 13#14Lupin's ESG goals In the context of double materiality, our goals are aligned to material topics impacting both enterprise value & environment/society Product Accessibility and Affordability Access to Medicines Targeting 80+ registrations of anti-TB and ARV medicines in 2024 Implementation of Patient Assistance Programs Two programs by 2025, each benefitting 100,000 patients Education for Patients and Doctors Touching 1 million Patients by 2028 and 20,000 doctors by 2030 Local Manufacturing Partnership Developing partnerships in African firm by 2027 to improve accessibility Innovation Management Complex Generics: Launches in Regulated Markets by 2028 . 20 complex product launches in the areas of inhalation, injectables, among others Biosimilar and Novel Complex Products • • Complete 3 biosimilar filings in regulated Regulatory Compliance, Quality, and Patient Safety Regulatory Compliance Zero sites with Warning Letter status (WL) by FY25 Recalls . Maintain zero class I recalls Data Integrity . No data integrity-related observations in any markets by 2028 Launch 10 novel complex pipeline products in India by 2028 Process/Open Innovations Target 15-20 process innovations annually, regulatory audits Quality Audits Lupin's India sites undergo annual audits, while supplier • Patient Centricity Diagnosis . By 2030, assist in the diagnosis of lung disease using fractional exhaled nitric oxide (FENO) and Spirometry tests for more than 1 million patients Target the diagnosis of breast cancer in 1,400 women in FY24 Rehabilitation "Lungs on Care" campaign: Provide in-clinic services for Interstitial Lung Diseases (ILD) rehabilitation in 300 clinics by 2030 Atharv Ability, our neuro rehabilitation center is targeting an outreach to 10,000 patients in sites are audited every three years and during vendor qualification • CGMP Training resulting in $2-3 million in savings . Ensure 100% completion of mandatory training to Full care • Pursue open innovation applicable employees FY24 Environmental Stewardship Greenhouse Gas Emissions • LUPIN By 2030, reduce Scope 1 and Scope 2 GHG emissions by 15% from 2019-20 levels Water Conservation · By 2025, we aim to recycle 50% of our total water withdrawal Hazardous Waste Management • By 2025, re-direct 60% of incinerable hazardous waste from Indian operations to co-processing such as cement plants Regularly review and revise goals In alignment with our decarbonization strategy and Scope 3 reduction objectives Material Issues Accessibility and Affordability Community Development and CSR partnerships in API, formulations, digital solutions, and diagnostics Material Issues Innovation Management and Research Digitization Material Issues Regulatory Compliance, Consumer and Patient Safety & Pharmacovigilance Data Integrity, Data Privacy and Cyber Security Lyfe provides post ACS (acute coronary syndrome) patient care, aiming to reach 25,000 patients in FY24 Regulatory Compliance, Consumer and Patient Safety & Pharmacovigilance • Material Issues Environmental Impact Management Climate Change and Impact on Business Opportunities in Renewable Energy Opportunities in Green Building Material Issues Community Engagement and Development Antimicrobial Resistance Note: For further details, refer Integrated Report FY23: 14#15ESG: Progress against goals in FY22 For our other material topics where we had taken targets in FY22 Supply Chain Environmental Performance Targets Undertaking detailed ESG audits of 100% of only raw material and packaging materials Tier 11 suppliers by 2025. Incorporation of ESG aspects in the evaluation criteria for onboarding all new vendors by 2025. Reduce our Scope 1 and Scope 2 GHG emissions by 15% from 2019-20 levels, by 2030. Recycling 50% of our total water withdrawal in our Indian operations by 2025. 60% of the hazardous waste generated in its Indian operations will be sent to cement plants for co-processing by 2025. Progress in FY23 Kick-started Supplier Assessment. We assessed ~50% of Tier-1 Direct Material Suppliers for ESG Risks (basis third party secondary research). Finalized Sustainable Procurement Strategy. We are also developing a Sustainable Procurement Policy to supplement our strategy. We have added to our renewable energy capacity, thus resulting in an 8% reduction in Scope 1 and 2 emissions. Recycled 42% water withdrawal in our operations. 61% of hazardous waste has been sent to cement plants for co-processing. Social Value Creation and Preservation Biodiversity Targets 15% women employees across all business units by 2027. 10% year-on-year reduction in the Lost Time Injury Frequency Rate (LTIFR), Severity Rate, Accident Frequency Rate, and Incident Frequency Rate, taking FY19 as the base year. Plant 1,600,000 trees by 2025. LUPIN Progress in FY23 8.79% of permanent employees are women. 66% reduction in reduction in LITFR as compared to previous year for employees and contractors. Overall Reduction from 0.34 in FY20 to 0.07 in FY23. Through our employee volunteering program, we have planted 10,000 trees in India (FY23 estimate). Furthermore, ~137,000 trees planted by LHWRF Initiatives. We have also planted more than ~5,000 trees on World Asthma Day. 15#16Lupin - Awards and Accolades LUPIN · • • Organizational Awards ATD (Association of Talent Development) BEST Award 'Factories of the Future' at the Economic Times Promising Plant Awards 2022 Excellence in Patient Centric Initiative at Zee Health Awards 2022 'Digital Pharma Marketing Excellence Award' for 'in Pharma Digital Marketing & Awards 2022 Businessworld's Diversity and Inclusion Award 2022 for "Outstanding Diversity Network" Cyber Security Excellence Awards 2022 for the Best Zero Security in Healthcare Bioprocessing Excellence in South Asia Award at Asia Pacific Bioprocessing Excellence Awards 2022 by IMAPAC . . Leadership and Other Awards Vinita Gupta, named among India's 20 Most Influential Women in Healthcare by 2022 BW Healthcare World Goa and Nagpur awarded Gold Medal at the National Awards for Manufacturing Competitiveness 2022-23 Pithampur team wins two awards - at the CII National Technology Competition and won four awards at 43rd CII National Kaizen Competition Dabhasa Recognized in the silver category at the India Green Manufacturing Challenge 2021-22 organized by International Research Institute for Manufacturing Pithampur team won Platinum and Gold Awards at the 16th CII National 3M Competition Team Quality and Operational Excellence on winning the platinum category award from CII Institute of Quality LHWRF won the Water Sustainability Awards 2022-23 for Excellence in Participatory Water Management • Lupin Diagnostics won Best Pathology Lab (National Category) at The Economic Times ET Healthcare Awards 2022 BW Healthcare WORLD.com FORTUNE ZEEBUSINESS NATIONAL SUSTAINABLE HEALTHCARE LEADERSHIP CONGRESS & AWARDS INDIA 2022 BE ST Award Winner Healthworld.com INDIA PHARMA WORLD AWARDS THE ECONOMIC TIMES PROMISING PLANTS 2022 ASIA-PACIFIC BIOPROCESSING EXCELLENCE AWARDS S2022 16#17Thank You Registered Address 3rd Floor, Kalpataru Inspire, Off Western Express Highway, Santacruz (East), Mumbai - 400055, India Phone: +91 22664 02323 | Fax: +91 22664 02051 | www.lupin.com youtube.com/c/LupinGlobal twitter.com/LupinGlobal in linkedin.com/company/lupin facebook.com/Lupin World/