Avantor Investor Day Presentation Deck

2025 Target: Significant capital allocation flexibility FCF & ADJUSTED NET LEVERAGE Adj. net leverage Free Cash Flow Navantor™ 3.2X1 $850M $1.2-1.4B <1X1 2021E² >0.5X annual deleveraging 2025E3 2X-4X adjusted net leverage target range 1. 2021E based on FY guidance of $850M of cash flow generation, excluding pending M&A. 2025E adjusted net leverage assumes no pending or potential future M&A № 3 >$2B capacity today 3. >$8B capacity through 2025 2. 2021E reflects FY21 Q2 earnings call guidance, excluding pending M&A 2025E based on organic growth and excludes pending and potential future M&A CAPITAL ALLOCATION 79

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