Avantor Investor Conference Presentation Deck

Disciplined capital allocation NEAR-TERM $ 1000 CAPITAL ALLOCATION PRIORITIES Debt Paydown LONG-TERM 10² Debt paydown M&A $ % Dividend Share repurchase Currently allocating all free cash flow to debt paydown Targeting <3.0X adjusted net leverage Future capital allocation flexibility across multiple levers avantor™ 19

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