Investor Presentaiton

3 Acquisition Highlights (2/3) Key Data Acquired . • • The acquired businesses have combined sales of €330m and an Adjusted EBITDA margin above 20% for the twelve months to the end of March 2020, with a high single-digit organic sales growth rate over the past 5 years Biomin: 85% of sales (mycotoxin risk management, gut health/eubiotics, premix). Romer 15% of sales (feed & food testing) Sales well split between Europe, Asia, and the Americas. Low customer concentration (top-20: ~30% of sales) businesses ⚫ 12 manufacturing sites/ 15 R&D sites globally; ~1,200 employees Mycotoxin risk management - MTX • (Biomin) Eubiotics for Gut Health (Biomin) • • Strong innovation roots; Biomin Research Center in Tulln with strong connect to University and other leading academics + regional centers Mycotoxins are secondary metabolites produced by fungi developing on grains and other crops, that can contaminate feed and cause a toxic response when ingested in farm animals Biomin provides biotransformation and biodegradation solutions (through complex mixes of enzymes, microbials and binders) to detoxify feed Biomin has a strong position in terms of regulatory approvals and IP Mycotoxin detoxifiers are a €700m market, growing at 5%; Biomin growing high-single digit in MTX due to its leadership position in the premium segments Eubiotics improve health and performance in farm animals by maintaining an optimal balance of microflora in the gastrointestinal tract. Eubiotics types include probiotics, prebiotics, organic acids and essential oils/ phytogenics The eubiotics market is estimated to be ~€2bn, expected to grow at an 8-10% CAGR over the next 5-10 years, driven mainly by the shift to 'antibiotics-free' and preventive health solutions Biomin has a strong IP and sales position in the fastest growing Eubiotics segment of Probiotics; Biomin growth in eubiotics has been double digit over the last five years DSM

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