Avantor Results Presentation Deck

Q2 adjusted P&L USD in millions Reported Revenue Core organic growth Adj. Gross Profit Adj. Gross Profit % Adj. EBITDA Adj. EBITDA % Adj. Earnings Per Share Free Cash Flow Adj. Net Leverage avantor™ Q2'23 $1,743.9 -6.5% $590.0 33.8% $343.0 19.7% $0.28 $138.1 3.9X² Q2'22 $1,910.5 6.4% $661.5 34.6% $404.1 21.2% $0.37 $191.2 3.9X² COMMENTS Softening customer demand and ongoing destocking in biopharma Declines in Advanced Tech/Applied Materials driven by semiconductor end market Negative volume and mix Headwinds partially offset by productivity and lower distribution costs Reflects lower gross profit Headwinds partially offset by productivity and cost controls Flow through of adj. EBITDA performance Interest in line with expectations, tax expense modestly higher FCF conversion of ~85% in 1H 2023¹ Positive impact from working capital initiatives Paid down >$400M of debt in 1H 2023 Increase in leverage from Q1 driven by reduction in TTM adjusted EBITDA Note: Core organic growth is organic growth net of COVID-19 impact. 1. Conversion: Free Cash Flow / Adj. Net Income. 2. Represents Adj. Net Leverage as of June 30, 2023 and June 30, 2022, respectively. 5 сл

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