Avantor Investor Day Presentation Deck

Proprietary growth drives margin expansion $5.9B PROPRIETARY GROWTH 2018 ~45% PROPRIETARY REPORTED REVENUE 16.1% ~55% PROPRIETARY ADJ. EBITDA MARGIN ~$7.0B 2023E financials based on midpoint of FY 2023 guidance, as of Q3 2023 earnings call. Proprietary percentages for 2023 based on management estimates. 2023E 18.7% 1 STRONG FOUNDATION Self-manufactured proprietary products have ~1.5x - 2.0x gross margin versus third-party content Proprietary products concentrated in high growth markets and workflows (e.g., bioprocessing) avantor™ 73

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