Avantor Investor Day Presentation Deck

Looking ahead ANTICIPATED RECOVERY CYCLE End of destocking Restoration of favorable mix and operating leverage EXIT ADJ. EBITDA MARGIN RATE Note: MSD = 4-6%. Double digit = 10%+. FCF Conversion = Free Cash Flow / Adjusted Net Income. Normalization of end market demand Impact from cost transformation >20% ORGANIC REVENUE LONG-TERM FINANCIAL TARGETS GROWTH MSD ADJ. EPS GROWTH 3 Double digit OPERATING PRIORITIES ADJ. EBITDA MARGIN EXPANSION 50-100 bps per year FREE CASH FLOW 90%+ FCF conversion avantor™ 83

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