Eurofins Corporate Presentation

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www.eurofins.com

Eurofins Corporate Presentation

Consistently delivering strong, sustainable, profitable growth

Doubled revenues every 4 years on average between 2005 and 2020

Sales & reported EBITDA multiplied by more than 23 times between 2005 and 2020

Basic reported EPS to owners multiplied by more than 29 times between 2005 and 2020

August 2021

The global leader in food, environment, pharmaceutical & cosmetic product testing

and in agroscience Contract Research Organisation services, and an emerging

leader in specialised clinical diagnostics

2

CONFIDENTIAL AND PROPRIETARY - © Eurofins Scientific (Ireland) Ltd [2020]. All rights reserved. Any use of this material without the specific permission of an authorized representative of Eurofins Scientific (Ireland) Ltd is strictly prohibited.

Disclaimer

This presentation does not constitute or form part of, and should not be construed as, an offer or invitation to subscribe for or purchase securities in Eurofins Scientific

S.E. and neither this document nor anything contained or referred to in it shall form the basis of, or be relied on in connection with, any offer or commitment

whatsoever.

The statements made during this presentation or as response to questions during the Question & Answers period that are not historical facts are forward looking

statements. Furthermore, estimates and judgements may be made based on market and competitive information available at a certain time. Forward looking

statements and estimates represent the judgement of Eurofins Scientific’s management and involve risks and uncertainties including, but not limited to, risks

associated with the inherent uncertainty of research, product/service development and commercialisation, the impact of competitive products and services, patents

and other risk uncertainties, including those detailed from time to time in period reports, including prospectus and annual reports filed by Eurofins Scientific with the

Luxembourg Stock Exchange and regulatory authorities, that can cause actual results to differ materially from those projected. Eurofins Scientific expressly disclaims

any obligation or intention to release publicly any updates or revisions to any forward looking statement or estimate.

Eurofins provides in the Income Statement certain alternative performance measures (non-IFRS information as “Adjusted Results and Separately Disclosed Items”)

that excludes certain items because of the nature of these items and the impact they have on the analysis of underlying business performance and trends. (Please

refer to description of these terms in the Company’s Annual Report). The management believes that providing this information enhances investors' understanding of

the company’s core operating results and future prospects, consistent with how management measures and forecasts the company’s performance, especially when

comparing such results to previous periods or objectives and to the performance of our competitors. This information should be considered in addition to, but not in

lieu of, information prepared in accordance with IFRS. These APMs are described in more detail in the Condensed Interim Consolidated Financial Statements for the

period ended 30 June 2021 in Note 1 and in the Consolidated Financial Statements 2020 in Notes 1.27 and 1.28.

3


Contents

▪ Executive Summary

▪ Market & Strategic Positioning

▪ Financial review

▪ ESG

▪ Outlook

▪ Summarised Financial Statements

▪ Appendix

4


Key operational highlights (1/2)

• Record H1 on revenues, profits and cash generation, continuing the positive trends seen in Q1 2021

• Strong performance of Core Business1 with rapidly accelerating, strong growth across business lines:

o H1 2021: 17% organic growth2

o Q2 2021: 25% organic growth3

o Now largely recovered EUR 250m revenues lost due to COVID impacts in FY 2020, earlier than forecast

• Further notable product launches and continued innovation across business lines, including:

o Highly innovative rapid testing methods4 including for the identification of sugars and the certification of organic products

o New proprietary advanced testing methods to expand Clinical Diagnostics’ services for transplant patients

o Differentiated services/ technologies in Environment Testing including a new automated and robotised PFAS testing method supporting the lowest detection limits globally

o TruGraf® approved with Humana for in-network coverage of Medicare kidney transplant patients

• Since H1 2020 was affected by Covid, it is an easy comparable. Looking at organic growth from the pre-pandemic period,H1 2019 is a better indication of long term trends and business recovery

• Core Business H1 2021 organic revenue growth has been 13% compared to H1 20195

1 Excluding COVID-19 related clinical testing and reagent revenues

2 +16% vs H1 2019, close to +13% corrected for EUR 62m estimated revenue impact of cyber-attack of 2 June 2019

3 +19% vs Q2 2019, close to +13% corrected for EUR 62m estimated revenue impact of cyber-attack of 2 June 2019

4 Approved by the International Organization for Standardization (ISO), the European Committee for Standardization (CEN) and the International Dairy Federation (IDF)

5 2019 corrected for EUR 62m estimated revenue impact of cyber-attack of 2 June 2019

5


Key operational highlights (2/2)

• Alongside the Core Business, the Group remains equally agile, committed and innovative to fight the pandemic

• Significant contribution from COVID-19 related activities and important milestones reached in H1 2021:

o Revenue contribution close to EUR 750m

o 25+ million COVID-19 PCR tests completed since the start of the pandemic

o 125,000+ SARS-CoV-2 samples sequenced from 23 countries since our press release on 28 December 2020

o Broad network of 1,000+ testing centres developed in Europe to facilitate travelling through SAFER@WORK™

• Continued progress made in H1 on the completion of Eurofins’ infrastructure and operational excellence programmes, to develop an unrivalled, fully digital network of state-of-the-art laboratories

• M&A activity:

o Very modest level of acquisitions in 2019, 2020 and H1 2021, confirming they are not short-term organic growth drivers

o 12 acquisitions closed in H1 2021 (EUR 37m full-year equivalent proforma revenues in 2020)

o EUR 225m committed to date in H2 on 7 acquisitions (EUR 95m full-year equivalent proforma revenues in 2020)

o DNA Diagnostics Center, a leader in consumer genetic testing in the U.S., acquired in July 2021, anticipates delivering revenues of USD 55m+ in 2021

o On track to achieve objective of adding EUR 150m proforma revenues from M&A in 2021

6


FY 2020 Key operational highlights

• Strong performance and resilience of our core business, despite the impact of multiple lockdowns around the world

• Great collaboration across borders and business lines:

o Exceptionally quick ramp-up in response to the COVID-19 pandemic crisis

o Significant contribution to public health authorities’ fight against the pandemic, helping ensure uninterrupted access to safe food, water, medicines, essential products and services to the public

• Innovative product launches:

o SAFER@WORKTM Programmes for employer, environmental surface, site wastewater and product testing

o COVID-19 RT-PCR tests with easy and reliable at-home self-sampling options

o GSD Novatype® RT-PCR for fast variant identification

o GSD NovaPrime® SARS-CoV-2, successfully validated for pharynx gargle and saliva samples

o CE-IVD marked rapid point-of-care finger-prick testing devices to identify past exposure to COVID-19

o Large Next Generation Sequencing (NGS) capacity and PCR/NGS Primer sets to detect Variants

• Completing our significant investment programme:

o Integration of prior acquisitions and finalisation of hub and spoke laboratory network

o Becoming fully digital

o Limited M&A activity

7

CONFIDENTIAL AND PROPRIETARY - © Eurofins Scientific (Ireland) Ltd 2021. All rights reserved. Any use of this material without the specific permission of an authorized representative of Eurofins Scientific (Ireland) Ltd is strictly prohibited.

H1 2021 Key financial highlights

Net debt/EBITDA4

Revenue, EUR m Adjusted1 EBITDA2 Margin

Free Cash Flow to Firm3, EUR m

Adjusted1 EBITDA2, EUR m

Adjusted1 EPS5

2,323

3,272

H1 2020 H1 2021

493

1,008

H1 2020 H1 2021

315489

H1 2020 H1 2021

2.5x

1.0x

H1 2020 H1 2021

1.03

3.05

H1 2020 H1 2021

21.2%30.8%

H1 2020 H1 2021

+41%

+104%+960bps

+196%-1.5x+55%

1 Adjusted results – reflects the ongoing performance of the mature and recurring activities excluding “separately disclosed items”

2 EBITDA – Earnings before interest, taxes, depreciation and amortisation, share-based payment charge, impairment of goodwill, amortisation of acquired intangible assets, negative goodwill, loss/gain on disposal and transaction costs related to

acquisitions as well as income from reversal of such costs and from unused amounts due for business acquisitions

3 Free Cash Flow to the Firm (FCF-F) – Net cash provided by operating activities, less net capex

4 Leverage – net debt / PF12M adjusted EBITDA (corrected for the estimated impact of the cyber-attack in 2019)

5 Adjusted EPS – Basic EPS attributable to equity holders of the Company and hybrid capital investors

8


FY 2020 Key financial highlights

Net debt/EBITDA5

Revenue, EUR m Adjusted2 EBITDA3 Margin

Free Cash Flow to Firm4, EUR m

Adjusted2 EBITDA3, EUR m

Adjusted1 EPS5

4,563

5,439

FY 2019 FY 2020

931

1,413

FY 2019 FY 2020

359

873

FY 2019 FY 2020

3.2x

1.6x

FY 2019 FY 2020

1.75

3.63

FY 2019 FY 2020

20.4%26.0%

FY 2019 FY 2020

+19%+52% +560bps

+107%-1.6x+144%

1 Year on year variation – 2020 vs 2019 on reported revenues and FCF-F, on adjusted EBITDA, EBITDA margin and EPS (as defined in footnote 6), comparable (corrected for impact of cyber-attack in 2019) for leverage

2 Adjusted results – reflects the ongoing performance of the mature and recurring activities excluding “separately disclosed items”

3 EBITDA – Earnings before interest, taxes, depreciation and amortisation, share-based payment charge, impairment of goodwill, amortisation of acquired intangible assets, negative goodwill, loss/gain on disposal and transaction costs related to acquisitions

as well as income from reversal of such costs and from unused amounts due for business acquisitions

4 Free Cash Flow to the Firm (FCF-F) – Net cash provided by operating activities, less Net capex

5 Leverage – net debt / PF12M adjusted EBITDA (corrected for the estimated impact of the cyber-attack in 2019)

6 Adjusted EPS – Basic EPS attributable to equity holders of the Company

7 Cash conversion ratio – FCFF/ Reported Net Profit

11 1

1

162% cash conversion7

11

9


Eurofins’ Mission is to contribute to globalHealth, Safety & Environment with the best in bioanalysis

• Founded in 1987

• IPO on 24 October 1997 at €0.183

• Eurofins’ share price has multiplied by 527 times since IPO

(30% CAGR since IPO as of 30 June 2021 at €96.40)

• 55,000 employees across network of 1,000 independent

companies in over 50 countries operating 900 laboratories

• Over 200,000 validated analytical methods

• Over 450 million tests performed each year

• COVID-19 testing:

o Eurofins created global capacity to help over 20 million

patients monthly

o Eurofins global PCR testing capabilities in excess of

150,000 PCR tests daily

o Eurofins carried out over 25 million PCR tests in its own

laboratories

Food

Environment Pharmaceuticals

Clinical

Eurofins provides testing services in

four main areas that have a strong

impact on human health

10


One-stop shopping (focus on few

global testing suppliers)

Outsourcing of internal laboratories

by industry

Demand for safe pharmaceuticals,

quality food and clean environment

Consolidation of the fragmented

laboratory market and scale effects

Risks linked to

global sourcing and

brand vulnerability

Increasing wealth

and quality of Life

Technological

progress

Advancing

globalisation

New analytical methods

and lower detection limits

New biotech products

Consumer

expectations for

protection

Secular Underlying

FundamentalsGeneral Market Drivers Laboratory Market Drivers

Drivers for high long-term above GDP market growth

11


Innovative testing technologies developed in 2020 (1/2)

• We believe we are uniquely positioned to derive new scientific meaning for years to come. We have:

✓Capabilities in Environment, Food, Pharma and Clinical, reinforcing each other

✓ A unique fully digitised hub and spoke laboratory infrastructure

✓One of the world’s largest and most varied proprietary databases (biomarkers, DNA, drugs etc.)

✓ A pool of incredibly talented, motivated employees sharing the same vision, Testing for Life

✓ A decentralised entrepreneurial structure that demonstrates exceptional agility and speed of innovation

• Laboratories of the Group continued to make advances and innovations in multiple core business areas:

o BioPharmaceutical Testing Services

✓ Patented process to eliminate donor variability in Antibody-Dependent Cell-Mediated Cytotoxicity assays

✓OncoPanel™ Cell-Based Profiling Service, with 300+ genomically-diverse human cancer cell lines

o Eurofins Technologies

✓World’s first AOAC Performance Tested MethodsSM status for a screening method to detect aflatoxin M1 in milk commodities

12


o Food and Feed Testing Services:

✓ World’s first official method for the identification of fructans certified by the AOAC and ISO bodies

✓ New accredited method for authenticating products containing agave syrup and inulin

✓ Novel full-service support programme for companies entering the “all-natural” infant formula market

o Environment Testing Services:

✓ World’s most sensitive heavy metal detection method in soil, water, food and pharmaceuticals

✓ Ground-breaking Sorbisense™ passive sampling system for ground/ surface water contamination detection

✓ Bespoke microplastic filtration processes and analysis, making testing commercially available

o Clinical Diagnostics Testing Services:

✓ Viracor TRAC™, a proprietary donor-derived cell-free DNA assay for detection of acute kidney rejection

✓ TruGraf Liver, a unique, non-invasive blood-based test to support liver transplant patients

✓ TRULO, a multi-centre observational registry study to evaluate post-transplant clinical outcomes in recipients of kidney transplants who are undergoing serial TruGraf testing

Innovative testing technologies developed in 2020 (2/2)

13


Some of Eurofins’ Innovations: Becoming Leader in Non-Invasive Prenatal Testing (NIPT) in Europe and Japan

• Eurofins is the No. 1 player in the fast growing European NIPT market with ca. 150,000 non-invasive prenatal tests performed per year in

2020 & 2019 vs. ca. 100,000 tests in 2018

• Eurofins offer a very comprehensive and innovative portfolio of tests in that market – from trisomy 21 to rare chromosome abnormalities

(RCAs)

• In August 2020, Eurofins acquired GeneTech Inc. and became the market leader in NIPT in Japan

14


Some of Eurofins’ Innovations: Onconext - Next Generation Oncology Diagnostics

• Onconext from Eurofins Genoma is an advanced molecular diagnostics solution for personalised

cancer care that uses state of the art technology

• The team comprises multidisciplinary professionals specialised in molecular biology and genetics

applied to the study of cancer

• Onconext includes an advanced suite of oncology panels:

o Onconext Risk: detects germline mutations involved in genetic predisposition to cancer

o Onconext Liquid: analysis of circulating tumor DNA (ctDNA) for cancer detection and

monitoring (liquid biopsy)

o Onconext Tissue: detects somatic mutations in tumor DNA (tDNA) from tissue samples coming

from traditional biopsies

• Those tests cover many of the most common cancer types including breast, ovarian/uterine,

melanoma, colon, gastric, pancreas, prostate, cerebral, renal, and

pheocromocytoma/paraganglioma

• Eurofins Genoma also develops tailor made solutions for its pharma customers and educate

oncologists in the clinical utility and use of Onconext in personalized medicine. The ultimate goal of

those projects is to make liquid biopsy a reality for patients. An example of this kind of project is the

NGBreast project run in Italy with 80 oncology teams (see www.NGBreast.it)

http://www.ngbreast.it/

15


Eurofins is present in several high growth Life Sciences markets critical to fight the COVID-19 pandemic

Eurofins’

position

Oligonucleotides Production and

Next Generation Sequencing (NGS)

#3 worldwide1

#1 in Europe1

Start 2000

In Vitro Diagnostic (IVD) products

Start-up

Start 2016

Bu

sin

ess l

ine

de

scri

pti

on

Eurofins Genomics' expertise in the synthesis of

oligonucleotides has made the company a European

market leader and a strong global player with several

fully automated production facilities around the world.

Eurofins Genomics is also an international leader in

Sanger and NGS sequencing services and a growing

gene synthesis provider. Eurofins Genomics produces

probes, primers and positive controls, key components

for RT-PCR testing of SARS-CoV-2, from 6 production

sites in U.S., Europe, India and Japan.

Whole genome NGS sequencing of the coronavirus

supports traceability of the source of outbreaks.

Eurofins Technologies’ subsidiaries Gold Standard

Diagnostics (GSD), NovaTec Immundiagnostica,

VIROTECH Diagnostics, Genescan Technologies,

Immunolab, Abraxis and Ingenasa offer an innovative

suite of IVD instruments, testing kits and testing

reagents for laboratories to carry out a large range of

clinical diagnostics for infectious diseases (Borrelia, Zika,

Chlamydia, CMV, Dengue, etc.).

GSD sells IVD instruments and testing reagents to other

Eurofins’ laboratories and to 3rd party laboratories.

Eurofins Technologies has developed a complete range

of 1,500 products for industrial and clinical applications

including COVID-19 full testing portfolio (RT-PCR,

serology/antibodies, antigen rapid tests, Lateral Flow

home test/Device (LFD)), from 10 production sites.

Listed or

larger

peers

ThermoFisher, GenScript, Swift Biosciences, Merck,

Danaher, etc.

Roche, Abbott, Becton Dickinson, Hologic, Beckman

Coulter, DiaSorin, Biomerieux, ThermoFisher, Tecan,

Idexx, etc.

1 To the best of Eurofins’ knowledge, based on data available to the Group

16


Life Sciences and In Vitro Diagnostic (IVD) products to fight the COVID-19 pandemic (1/2)

Eurofins Technologies

• Full range of 1,500+ products/assays produced in 10 sites across 6 countries including 4 in Germany (4), and 2 in the U.S. (2):

• GSD NovaType III SARS-CoV-2 RT-PCR assay for the rapid detection of SARS-CoV-2 Variants of Concern including B.1.617 (“India”),

B.1.427/B.1.429 (“California/USA”), B.1.351 (“South Africa”) and P.1 (“Brazil”).

• Upgrade of COVID wastewater testing capabilities with variant detection capabilities

• Novatype RT-PCR – testing for fast variant identification

o Detect & ID RT-PCR assay, clinically validated for detecting variants such as B.1.1.7 and B.1.351, with a short turn-around time.

• GeneScan VIRSeek RT-PCR - testing kits and reagents for detection of SARS-CoV-2 in swabs of environmental surfaces

o Helps employers evaluate the effectiveness of their sanitation/hygiene measures as they battle COVID-19

• CE-IVD marked ELISA serology-based antibody testing kits - antibody testing for IgG, IgM and IgA, results provided in 2 hours

o Assays are compatible with many open high-throughput ELISA automation platforms and can therefore provide important cost-efficient

testing capacity at scale

o Eurofins has 5 subsidiaries producing serology kits - Gold Standard Diagnostics, VIROTECH Diagnostics, NovaTec Immundiagnostica,

Immunolab and Ingenesa

• Rapid test: lateral flow device (CE marked) – rapid test to detect total IgG, IgM and IgA antibodies at point-of-care

• CE-IVD marked Multiplex Real-Time RT-PCR kit – testing kit for the direct, active and qualitative pathogen detection of SARS-CoV-2,

providing results in approximately 2 hours

o Kit demonstrates excellent performance with a 100% Negative and Positive Percent Agreement (NPA, PPA) for all tested samples and

no cross-reactivity with other common widely spread coronaviruses

Serology tests allow tracking the

part of the population infected

and may help efforts to develop

vaccines and therapies

We offer accurate and fast

PCR kits to help healthcare

authorities combat the COVID-

19 pandemic

17


Life Sciences and In Vitro Diagnostic (IVD) products to fight the COVID-19 pandemic (2/2)

Eurofins Genomics is helping

clinical diagnostic

manufacturers and laboratories

mitigate supply chain

disruptions

Eurofins Genomics

• Probes, primers and positive controls are key components required for COVID-19 PCR testing

• Eurofins Genomics is:

o Certified against ISO 9001, ISO 13485 standards and follows FDA cGMP regulations to produce oligonucleotides used in

IVD products

o One of the top 3 worldwide producers of probes, primers and positive controls, key components for RT-PCR testing of SARS-

CoV-2 with:

▪ 6 production sites in the U.S., Europe, India and Japan, able to ship plasmid controls within one day (12-18 hours

from order receipt)

▪ Successful ramp up of capacity of probes, primers and positive controls to meet growing demand

18


ELISA high-throughput automation platforms

Gold Standard Diagnostics (GSD) offers industry-leading ELISA analysers

• Elisa Assays for Hormones and tumour markers, Veterinary diagnosis and Infectious diseases

including qualitative detection of IgG and IgA antibodies to SARS-CoV-2 virus in human serum

• Low total cost of ownership for instrumentation, consumables, customer support

• Innovative, industry-leading open platform instruments: ThunderBolt® and the Bolt

The Bolt

• One-plate, fully automated

ELISA+CLIA processor

• Compact machine, 96 sample

capacity

• Customisable, lower throughput,

cost-effective design

The ThunderBolt®

• Two-plate, fully automated

ELISA+CLIA processor

• Compact machine, 196 sample

capacity

• Capable of running multiple assays

in one single batch

Open platform ELISA instruments

are essential as governments and

healthcare authorities look to

significantly increase COVID-19

testing

Open platform ELISA instruments

help mitigate supply chain

disruptions – allowing users to

process a range of testing kits

from different manufacturers

19


Strong Organic Growth in FY 2020 despite COVID-19 disruptions

• 19.3% organic growth in FY 2020

• Strong organic growth compared to peers & three large in vitro diagnostic device (IVD) suppliers

Peers FY 2020 Organic Growth1 Prominent IVD actors FY 2020 Organic Growth*

19.3%

40.6%

9.5%

14.0%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

Eurofins Abbott(diagnostics)

Danaher Roche(diagnostics)

1 Based on public information, using each of the respective companies’ Alternative Performance Measures (APM) definitions

2 Organic revenue growth including COVID-19 related clinical testing and reagent revenues and not corrected for the EUR 62m estimated missing revenues from the cyber-attack of 2 June 2019 as disclosed in Annual Report 2020

19.3%

-11.8%

-6.0% -6.8% -6.5%

-15%

-10%

-5%

0%

5%

10%

15%

20%

25%

Eurofins Applus BureauVeritas

Intertek SGS

2

2

20


1 Corrected for EUR 62m estimated missing revenues from the cyber-attack impact of June 2019

2 Based on public information, using each of the respective companies’ Alternative Performance Measures (APM) definitions, H1 2021 vs. H1 2019 calculated by simple multiplication of the organic growth % for the two periods

3 TICS ex ERF = average organic growth of historic TIC leaders (SGS, Intertek and Bureau Veritas)

Even excluding COVID-19 clinical testing and reagents,

Eurofins organic revenue growth continues to significantly

outperform TIC industry peers

-15%

-10%

-5%

0%

5%

10%

15%

20%

H1 2020 H1 2021 H1 2021 vs. H1 2019²

1

3

CAGR H1 2019 – 2021

1

3

33

Average TICS ex ERF 3

1

21


Fastest growing TIC company which became the leader of an industry with attractive and resilient organic growth

TICs Organic Revenue Growth2 (annual or H1)

-8%

-4%

0%

4%

8%

12%

16%

20%

24%

28%

32%

36%

40%

44%

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 H1 2021 H1 2019vs H12021ERF Total OG (FY 2020 & H1 2021) ERF (ex.Covid) TICs ex ERF

1 Source: Mayo Clinic

2 Source: Eurofins, Company websites TICS ex ERF = SGS, Intertek, Bureau Veritas. Organic revenue growth average if more than 1 year.

3 For 2019 and H1 2021, organic revenue growth corrected for estimated missing revenues of EUR 62m from cyber-attack of 2 June 2019

4 Organic revenue growth of Eurofins Group as a whole (excluding COVID-19 related clinical testing and reagent revenues)

5 Organic revenue growth of Core Business only (excluding COVID-19 related clinical testing and reagent revenues)

6 Eurofins relative organic revenue growth vs average organic revenue growth for TICS (ex ERF)

4

4

5

5

3

• Market Structural growth: est. ~1.5-2.0x Gross Domestic Product growth, globalisation, urbanisation, increasing need and demand for a healthier life and safer environment.Testing is the most efficient and cost effective way to prevent risks (e.g. Clinical Diagnostics tests = 4% of healthcare costs but used in 60% to 70% of medical decisions1),outsourcing trend

• Limited cyclicality: A large majority of Eurofins’ revenues are recurring, focused on resilient/defensive sectors (testing for life, i.e. testing food, pharmaceuticals, theenvironment and products that have an impact on our health as well as human clinical testing), diversified industry and geographical exposure

• In spite of its lower growth routine clinical testing component, Eurofins is outperforming its peers thanks to leadership positions achieved in its chosen less cyclical life sciencefocused markets

-4%

0%

4%

8%

12%

'00-'04 '05-'09 10-'14 15-'19

3

3

+n.s.%6

+680bps6

+60%6

+650bps6

+1,714%6

+1200bps6

+146%6

+380bps6+22%6

+120bps6

+19%6

+150bps6

TICs Organic Revenue Growth2 (5-year average)

Eurofins long term growth gap with TICs is increasing

22


Infrastructure plan update: building a one-of-a-kind hub and spoke laboratories platform for global leadership in our markets to capture scale advantages

• Building large high throughput laboratory campuses (hubs of the hub and spoke structure)As of the end of 2020, Eurofins occupied more than 1,400 sites throughout the world (laboratories, offices, phlebotomy sites, storage/warehouses, etc.). The total net floor area of these sites amounted to about 1.4

million m2, of which more than 1.2 million m² is laboratory space.

2017 +53,000m2 2018 +64,000m2 2019 +65,000m2 2020 +35,000m2 2021-2022 +83,500m2 planned

Nantes, FR ext.

Livingston, UK

Madrid, ES

Ho Chi Minh City, VN

Gurgaon, IN

Bangalore, IN

Lancaster, PA ext.

Hangzhou, CN

Dayton, NJ

Hasselt, BE

Suzhou, CN

Taipei, TW

Wolverhampton, UK ext.

Planegg, DE ext.

Dungarvan, IE ext.

Melbourne, AU

Fresno, CA

Wesseling, DE ext.

Bangalore, IN

Katowice, PL

Vienna, AT ext

Shanghai, CN

Guangzhou, CN

Hamburg, DE ext.

Heerenveen, NL

Bucharest, RO

Santa Clara, US

Lancaster, US ext.

Madison, US

Pasadena, US

Taichung City, TW

Gunpo, KR

Llanera, ES

Barcelona, ES

Murcia, ES

Welshpool, AU

Lodz, PL

Guangzhou, CN

Lenexa, US

Tustin, US

Shanghai, CN

Girraween, AU

Feltham, UK

Aix-en-Provence, FR

Leola, US

Castellon, ES

Cork, IE

Mississauga, CA

Heerenveen, NL

San Diego, US

Glostrup, DK

Saverne, FR

Tallinn, EE

Lidkoping, SE

Lentilly, FR

Brugge, BE

Bron, FR

Les Ulis, FR

• Start-up labs opened in high-growth markets where acquisition prices are too high and/or acquisition options are limited

• Investments in developing state of the art bespoke IT solutions Total spend on new generation standardized tool

2016 2017 2018 2019 2020 Beyond 2020

€35m + Opex €32m + Opex €33m + Opex €32m + Opex €36m + Opex Investing to be the most digital TIC company

Values at Full Year 2016 2017 2018 2019 2020 Beyond 2020

SDIs €18.5m €43.5m €68.4m €97.8m €61.8m Target <€30m p.a.

SDIs/adjusted EBITDA 3.9% 7.8% 9.5% 10.5% 4.4%

• Consolidating inefficient smaller sites into large high throughput campusesSeparately disclosed items (SDIs) related to one-off costs and temporary/non-recurring losses (ie. integration, reorganisation, network expansion, start-ups) should decrease gradually.

2016 2017 2018 2019 2020 Beyond 2020

22 30 15 15 18 More limited, focusing mainly on Asia Pacific

23


0

50

100

150

200

250

300

350

400

450

500

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019* 2020

Rev

en

ues (

€m

)Start-ups an increasingly attractive investment as weleverage our scale and experience

25 start-ups

178 laboratories start-ups between 2000 and 2020

1) Acceleration in laboratories start-up programmes

• 25 start-ups 2000-2009 (Programme 1)

• 18 start-ups 2010-2013 (Programme 2)

• 102 start-ups 2014-2018

• 15 start-ups opened in FY 2019

• 18 start-ups opened in FY 2020

• These 178 start-ups continued to contribute to the overall organic growth of the Group,

accounting for 3.2% out of the 19.3% organic growth achieved in FY 2020

Substantial acceleration offers tremendous growth potential

3) Start-up investments complement our acquisition strategy

• Alternative strategy in high-growth markets and emerging markets where acquisition

prices are too high and/or there are limited viable options for acquisitions

18 start-ups 135 start-ups

Where we are building start-up labs

Programme 1

(2000-2009)Programme 2

(2010-2013)

Programme 3

(2014-2020)

2) Commitment to invest for future growth

• Eurofins start-up programme represents a significant investment for the future and has a short-

term dilutive impact on the Group’s margins and cash flows.

• On average, start-up periods last for 2 to 3 years in mature markets and 2 to 5 years in emerging

markets in order to reach breakeven before they become profitable

• The EBITDA margin from our two most recent programmes (2010-2013 and 2014-2020)

improved significantly to reach levels in the mid-teens, but this is heavily influenced by the ability

of our start-up clinical laboratories to contribute to the fight against COVID-19 by facilitating

access to SARS-CoV2 tests.

Rest of World73

Europe72

North America33

*2019 revenues are corrected for the estimated cyber-attack impact

24


Eurofins is experienced in successfully integrating acquisitions and is returning to its historic M&A run rate

• M&A has always been an integral part of Eurofins long-term strategy to build a unique bioanalytical testing platform for global leadership in its attractive high growth and very scalable markets

• From its IPO (Oct. 1997 to H1 2021 Eurofins has completed 411 acquisitions to consolidate the bioanalytical testing market, build leadership positions in its markets, expand its portfolio of testing methods and customers, generate economies of scale and create barriers to entry. Since 1 July 2021, Eurofins has completed 7 acquisitions including the acquisition of DNA Diagnostics Center (“DDC”).

• 2017 and 2018 were two exceptional years of M&A activity as unique opportunities became available during that time, including EAG Laboratories, Covance Food Solutions and TestAmerica

• Since 2019, Eurofins reverted back to its normal M&A activity. In the coming years the Group will focus more on operational excellence than M&A since the most strategic acquisitions have already been completed and the laboratory network in the U.S. for Food and Environment Testing is now largely completed

Eurofins has a long track record of acquiring and successfully integrating acquired businesses

10per year

18per year

56per year

26 26

12

127

235

347373

399 411

0

50

100

150

200

250

300

350

400

450

0

10

20

30

40

50

60

IPO-2010 2011-2016 2017-2018 2019 2020 H1 2021

Cu

mu

lati

ve n

um

ber

of

acq

uis

itio

ns

Av

era

ge n

um

ber

of

acq

uis

itio

ns

Average number of acquisitions completed Cumulative number of acquisitions completed

25


Exceptional Business PerformanceStrong revenue growth

Illustration of Eurofins’ historical revenue growth

26


Eurofins at the forefront of innovation with new COVID-19

related developments

1 Agreement available at https://www.defense.gov/Newsroom/Releases/Release/Article/2633565/memorandum-of-understanding-for-acquisition-support-signed-between-the-departme/

• Two important milestones reached:

o 25m+ COVID-19 PCR tests completed since the start of the pandemic

o 125,000+ SARS-CoV-2 samples from 23 countries sequenced since its press release on 28th December 2020 announcing the launch of a new ARTIC Next Generation Sequencing (NGS) service

• Clinical Enterprise awarded U.S. Government agreement1 to provide national COVID-19 testing opportunities to 24m+ people in K-8 schools, underserved populations and congregate settings such as homeless shelters

• Eurofins Viracor launched new tests, including COVID-19 SARS-CoV-2 inSIGHT™ T Cell Immunity Testing to support healthcare providers with the supply of critical insights to aid in treatment decisions

• Eurofins Genomics launched SynPure Linear Polyacrylamide for COVID testing and other research and development applications

• Eurofins Technologies continued to develop diagnostic solutions for COVID-19, particularly in response to emerging mutations:

o GSD NovaType III SARS-CoV-2 RT-PCR assay for the rapid, one-step detection of SARS-CoV-2 Variants of Concern

o Upgrade of COVID wastewater testing capabilities with variant detection capabilities

• EmpowerDX direct-to-consumer, FDA-authorised COVID-19 Home Collection PCR kit were launched on Amazon U.S. and in all Rite Aid stores across 17 states in the U.S.

• EmpowerDX first to receive FDA-emergency use authorization for its at-home nasal PCR test for children three years and older

https://www.defense.gov/Newsroom/Releases/Release/Article/2633565/memorandum-of-understanding-for-acquisition-support-signed-between-the-departme/

27


SAFER@WORK™ update

1 Available at https://www.eurofins.com/covid19-travel-regulations-testing-stations/

• Through its SAFER@WORK™ programmes, Eurofins continues to help businesses maintain or re-start operations and to enable safe and secure travel and leisure

• Over 3,250 SAFER@WORK™ contracts signed or in final stages across 36 countries (as of June 2021)

• Eurofins developed a broad network of testing centres to facilitate summer travelling, including:

o Around 1,000 testing centres across Europe covering major travelling hubs and providing testing accessibility in a broad variety of locations

o Mobile testing centres in France, Belgium and Germany to process PCR tests

o Network supported by intuitive web-portal1 where travelers can book appointments and access their testing information

• Further partnerships signed, including with:

o Several cruise lines

o Hotel Groups, to provide their guests with access to convenient and affordable PCR testing

o Airports and private jet operators, to offer exceptional level of safety to passengers

• As previously outlined, revenues from these contracts are dependent on employees coming back to work and travel and leisure activities recommencing and are expected to be delivered in H2 2021

https://www.eurofins.com/covid19-travel-regulations-testing-stations/

28


COVID-19 Test Strategy to help the return to normality

Key Highlights

• Developed a comprehensive offering to fight COVID-19

• Developed solutions for the detection of SARS-CoV-2 on environmental surfaces

• Eurofins was the first commercial European laboratory to receive an EUA for an at-home nasal PCR test for young children

• EmpowerDX At-Home COVID-19 Nasal PCR and gargling self-collection kits are painless and provide online results within 24h

• Safer@WorkTM can support a multifaceted view on infection vectors and will likely play a critical role as companies start looking to enable their employees to get back to their workplace safely

U.S. based example:

29


Contents


▪ Market & Strategic Positioning: Overview of Markets Served & Structure


▪ ESG

▪ Outlook


▪ Appendix

30


Leading global and local market positions in attractive high-growth markets* (1/2)

*Only includes the outsourced part of the market. Estimate to the best of Eurofins’ knowledge, based on data available to the Group

**Global Market Insights, August 20, 2019 (2025 market size estimate of USD 350bn converted at 31/12/2019 USD/EUR exchange rate of 0.89)

Testing for

Pharma/Biotech/Agrosciences

Food & Feed Testing Environment Testing Clinical Diagnostics

Eurofins

position

N°1 to N°3*

worldwide

Start 2000-2005

N°1*

worldwide

Start 1987

N°1*

worldwide

Start 2000

Start-Up

Start 2014

Total market

size estimate* ~ € 6bn ~ € 4bn ~ € 5bn

➢ € 312bn** by 2025

➢ Eurofins’ focus Genomics/ Esoteric Testing: € 5-

10bn*

Segment

description

Full range of laboratory services for

biopharmaceutical product development, quality

testing, discovery and pharmacology services,

genomic sequencing and genotyping as well as

phase I – IV clinical research programs

Ensuring food quality and preventing contamination

and foodborne illnesses caused by pathogens and

other harmful substances.

Expertise includes a.o. testing for dioxins and

organic contaminants, pesticides, mycotoxins,

allergens, authenticity, pathogens and vitamin

Analysis of drinking water, groundwater, seawater,

soil, sediment, air, etc; using analytical methods to

assess their purity/absence of polution and impact on

health and the environment

Biological samples (blood, urine, etc.) analysis to

diagnose diseases and aid in medical decisions

Key clients More than 90% of top 20 largest global pharma

companies are customers

The largest global food and beverage producers are

clients

Industrial companies, water plants, local councils,

construction companies, etc.Doctors, hospitals, health insurers, patients

Listed peers or

large peersPharmaceutical Product Development (PPD), ICON,

Charles River, IQVIA, LabCorp/Covance, Wuxi,

Evotec etc.

SGS, Bureau Veritas, Intertek, etc. ALS, SGS, Bureau Veritas, Idexx, etc.

Guardant Health, CareDx, Natera, Exact Sciences,

Myriad Genetics, NeoGenomics, Invitae, Genomic

Health, Foundation Medicine, LabCorp, Quest, Sonic

Healthcare, Synlab, Unilabs, Cerba, etc.

31


Leading global and local market positions in attractive high-growth markets* (2/2)

*Only includes the outsourced part of the market. Estimate to the best of Eurofins’ knowledge, based on data available to the Group

**Global Market Insights, August 20, 2019 (2025 market size estimate of USD 350bn converted at 31/12/2019 USD/EUR exchange rate of 0.89)

Testing for

Pharma/Biotech/Agrosciences

Food & Feed Testing Environment Testing Clinical Diagnostics

Eurofins

position

N°1 to N°3*

worldwide

Start 2000-2005

N°1*

worldwide

Start 1987

N°1*

worldwide

Start 2000

Start-Up

Start 2014

Total

market

size

estimate*

~ € 6bn ~ € 4bn ~ € 5bn

➢ € 312bn** by 2025

➢ Eurofins’ focus Genomics/ Esoteric

Testing: € 5-10bn*

Eurofins

ranking

N° 1 Worldwide in Pharma Products Testing

N° 1 Worldwide in Discovery Pharmacology

Services

N° 1 Worldwide in Agroscience CRO

services

Among top 5 global providers of central

laboratory and genomic services

N° 1 or 2 in most segments/ countries in

Europe and the USA

N° 1* worldwide

N° 1 in the USA

N° 1 in Europe

N° 1 in Germany

N° 1 in France

N° 1 in Nordics/Scandinavia

N° 1 in Benelux

N° 1 in the UK & Ireland

N° 1 in Spain

N° 1 in Brazil

N° 1 in Agro Testing EU

N° 1* Worldwide

N° 1 in the USA

N° 1 in Europe

N° 1 in Germany

N° 1 in France

N° 1 in Nordics/Scandinavia

N° 1 in Ireland

N° 1 in Benelux

N° 1 in Taiwan

N° 2 in Spain

N° 2 in Japan

Establishing leadership in targeted higher-

growth innovative niche areas (e.g.

genomics, infectious diseases, etc.) of the

clinical testing market, mainly in the U.S.

and Europe, as well as market access

through local laboratories in many large

markets worldwide to distribute advanced

tests.

32


Genomics Discovery Pharmacology

Pre-clinical/ Early Development

Clinical (Central Laboratory/

Bioanalytical)Sequencing

Oligonucleotides

Pharmacogenomics

Transcriptomics

Genotyping

SNP-analysis

Pharmacology

Bioanalytical Analysis

Translational Medicine

Phase I Studies

Biomarkers

Bioanalysis

Immunogenicity

Proteomics

Microbiological and Anti-

infective analysis

Bioavailability

Bioequivalence

High-throughput-

screening

Molecular- Pharmacology

Cell-based Assays

In Vitro Screening

In Vitro Profiling

In Vivo Safety

In Vivo efficacy

BioPharma Products Testing

Pharmaceuticals,

Biologics, Medical

Device: Safety,

Characterization,

Quality Control,

Process Development

Hygiene Monitoring

Packaging

Development & Manufacturing

(CDMO)Complex API

Development

Multi-Step Synthesis

Cytotoxic and Highly

Potent

DS and DP

Manufacturing

Eurofins Pharma Services in more detail

Spanning the entire drug development cycle

Abcam, etc.Evotec, Abcam,

Albany Molecular Research, etc.

Evotec, Parexel, etc. Albany Molecular

Research, etc.

Albany Molecular Research,

Lonza,Cambrex etc.

SGS, Wu Xi App Tec, etc.

U.S

. li

ste

d

pe

ers IDT/Danaher,

Genewiz/BrooksCharles River

Catalent, Charles River, ICON, IQVIA,

LabCorp, SyneosHealth, PPD

Charles River, ICON, IQVIA, LabCorp,

Quest, Syneos Health, PPD

Catalent, Charles River

Charles River, PPD

Oth

er

pe

ers

33


Building leadership positions in an industry with significant network effects and competitive advantage for the market leader

High barriers to entry

Scale

matters

Generating synergies

Reinforcing leadership positions

• High level of investment and innovation required to build and efficiently run a network of

modern laboratories (buildings, equipment, IT infrastructure and solutions, talent)

• Clients seldom change laboratory supplier (high switching costs)

• Clients increasingly expect a complete range of tests at very short turnaround times

(TATs)

• Unique ability to offer our clients access to a portfolio of over 200,000

different tests across more than 50 countries thanks to state-of-the-art

global laboratory network

• Scale & volume required for short TATs on complex tests

• Unique ability to offer one-stop shops to our clients thanks to advanced

bespoke IT solutions

• Hub and spoke model to generate scale for complex tests

• Network effect/cross-selling synergies

• Site specialization drives cost synergies (efficiency – each method requires heavy investment

and thus needs to be amortized over large volumes, purchasing power)

• Innovation/R&D synergies

We have been building a hard to replicate laboratory platform

Some competitors who tried to diversify into our sector are starting to exit some of our markets

(LabCorp, Exova, TÜV Rheinland, Applus etc.). Smaller/mid-size players lose market share

34


Building a unique platform for global leadership in our attractive high growth markets with large network effects

High barriers to entry exist in Eurofins’ markets. Significant investments are required to build and efficiently run modern laboratories. Clients seldom

change laboratory supplier.

• Constant scientific breakthroughs lead to novel equipment and testing methods. Methods often take years to be developed and validated

• Clients increasingly expect a complete range of tests – Food testing is over 130,000 validated tests already.

• Stickiness of business. Switching costs are high. Clients often have decade-long stable relationships with their laboratory of choice.

Bioanalytical testing is a highly scalable activity

• Economies of scale in testing and logistics are huge and create a large cost advantage for the market leader vs. competitors.

In order to unlock economies of scope and scale, a global standardized network of laboratories is needed

• Developing a state-of-the-art global laboratory network takes decades and requires very large investments:

• Advanced bespoke IT solutions are required to offer a one-stop-shop for clients around the globe providing them access to the full range of services offered by all

laboratories in the network

• Automation, artificial intelligence (AI) and proprietary reagents and methods are very expensive and these investments require large scale to be justified.

Eurofins’ 2020 growth plan, aimed at building a leading one of a kind global laboratories platform in its chosen high growth markets, is well underway

• For over 15 years, Eurofins has been consistently investing more than its peers to develop a hard-to-replicate network of laboratories and a very broad portfolio of

advanced bio-analytical tests and more non time critical tests to its large hub labs.

• These large investments, aimed at long-term value creation, impact Eurofins’ short term cash flow generation and margins

• Between 2010 and 2020, Eurofins developed one-of-a-kind ‘hub and spoke’ laboratory infrastructure for its leading markets by consolidating less efficient and smaller sites

into large, high-throughput Centres of Excellence (or ‘hubs’), in order to unlock the potential of economies of scale and the large cost advantage available to the market

leader vs. competitors. Eurofins has invested much more than its peers in its unique network of laboratories and state-of-the-art IT solutions, putting its growth plan to

develop market leadership platform well into motion.

• Looking beyond 2020, when Eurofins’ five-year growth phase will have completed in 2021, the Group believes it will be well placed to leverage these market leadership

positions, in combination with its global network of laboratories, scale and scientific excellence, to significantly improve its cash flow generation and profitability to create

further significant value.

35


New Orleans, LA

Madison, WI

Indianapolis, INDes Moines, IA

Since 2015, Eurofins has built a one of a kind hub and spoke laboratories infrastructure platform in the U.S. Food testing market – Hub and spoke model allows for cost-effective and timely delivery of high quality testing results

Eurofins is structuring its unique network of laboratories using the hub and spoke model embraced by the largest global logistics

companies:

• Centralise complex chemistry and molecular testing at large hub laboratories

• Carry out time critical microbiology testing and sample collection/courier routes at/around smaller satellite local (spoke)

laboratories

= Chemistry hub/campus = Specialty laboratory (Milk or Nutraceuticals) = Microbiology laboratory

36


Building the Platform – Eurofins 2012 - Eurofins 2020

2012 2015 2019 20202012-2020 ∆

+8 years

Revenues (€ m) 1,044 1,950 4,563 5,439 23% CAGR

Employees

(average FTE)10,890 18,382 43,320 50,000 21% CAGR

Number of laboratories

(year-end)170 225 >800 >800 Over 4x

Number of countries 34 39 >50 >50 >16

Number of business

lines with global

leadership

4 (Food and feed,

Environment,

BioPharma product

testing, Drug

discovery services)

4 (Food and feed,

Environment,

BioPharma product

testing, Drug discovery

services)

7 (Food and feed, Environment,

BioPharma product testing,

Drug discovery services,

Agroscience CRO services,

Specialised Material Sciences

testing, Cosmetics Testing)

7 (Food and feed, Environment,

BioPharma product testing,

Drug discovery services,

Agroscience CRO services,

Specialised Material Sciences

testing, Cosmetics Testing)

+3

Number of future

oriented business lines

1 (Genomics) 2 (Genomics, Clinical

Genetics)

5 (Genomics (#2 globally),

Forensics (#1 in Europe),

Clinical Genetics, Pharma

CDMO, Eurofins Technologies)

5 (Genomics (#2 globally),

Forensics (#1 in Europe),

Clinical Genetics, Pharma

CDMO, Eurofins Technologies)

+4

37


2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Denmark: Food and Environment Testing

Sweden, Norway: Food and Environment Testing

Global: BioPharma Product Testing

France Environment Testing

Brazil: Food Testing

Europe: Agro Testing

Global: Discovery Pharmacology Laboratory Services

Australia, New Zealand: Food & Environment Testing

UK & Ireland: Food Testing

Austria: Environment Testing

France: Specialized Clinical Diagnostics

Europe: Forensics Testing

Global: Genomic Services

Global: Agroscience CRO Services

Finland: Environment Testing

USA: Specialized Material Sciences Testing

USA: Food Testing

France: BioPharma Product Testing

Germany: BioPharma Product Testing

USA: Environment Testing

Spain: Food Testing

Global: Cosmetics Testing

Netherlands: BioPharma Product Testing

Ireland: Environment Testing

Spain: Environment Testing

Japan: Genomics

Japan: Environment Testing

Japan: Non-Invasive Prenatal Testing

Taiwan: Environment Testing

New Markets

X

*To the best of Eurofins’ knowledge, based on data available to the Group

Eurofins is the leader in most of its markets and continues to build global & local leadership positions* in markets where scale matters

= Market Entry

Eurofins already has long-standing N°1 or N°2 positions in its historic markets, Europe and North America, across its major business lines:

Food, Environment, BioPharma, Agroscience, Genomics, Forensics

38


Overall, a large majority of Eurofins’ revenues come from markets where the Group has established global leadership positions

Business Line Global leadership position

Food & Feed testing ✓

Environment testing ✓

Clinical Diagnostics

BioPharma Product Testing (BPT) ✓

Consumer Product Testing

Early Development & Central Laboratory

Agroscience CRO Services ✓

Specialised Materials Science testing ✓

Discovery Pharmacology Laboratory Services ✓

Genomics & Forensics

Technology Services

Cosmetic Product Testing ✓

Total % of 2020 proforma revenues by business lines with global leadership positions* 70%

These global

leadership

positions are

the basis to

create high

barriers to

entry,

significant

network

effects and

competitive

advantage for

Eurofins

*Excluding COVID testing

39


International Monetary Fund(Estimates as of July 2021)

Eurofins market presence(To the best of Eurofins’ knowledge, based on data available to the Group)

Country GDP ($tn) % of world's GDP Eurofins presence Food testing Environment testing Biopharma services Clinical DiagnosticsEU ✓ #1 #1 #1 ✓

USA 22.7 24.2% ✓ #1 #1 #1* ✓

China 16.6 17.7% ✓ ✓ ✓

Japan 5.4 5.7% ✓ ✓ #1/2 ✓ ✓

Germany 4.3 4.6% ✓ #1 #1 #1 ✓

UK 3.1 3.3% ✓ #1 ✓ ✓ ✓

India 3.1 3.2% ✓ ✓ ✓ ✓ ✓

France 2.9 3.1% ✓ #1 #1 #1 #1**Italy 2.1 2.2% ✓ ✓ #1* ✓

Canada 1.9 2.0% ✓ ✓ ✓ ✓

South Korea 1.8 1.9% ✓ ✓ ✓

Russia 1.7 1.8%Australia 1.6 1.7% ✓ ✓ #2 #1*Brazil 1.5 1.6% ✓ #1 ✓ ✓

Spain 1.5 1.6% ✓ #1 #2 #1* ✓

Mexico 1.2 1.3%Indonesia 1.2 1.2%Netherlands 1.0 1.1% ✓ #1 #1 #1 ✓

Switzerland 0.8 0.9% ✓ ✓ ✓

Saudi Arabia 0.8 0.9%Turkey 0.8 0.8% ✓ ✓ ✓

Taiwan 0.8 0.8% ✓ ✓ #1 ✓

Iran 0.7 0.7%Poland 0.6 0.7% ✓ ✓ ✓

Sweden 0.6 0.7% ✓ #1 #1 #1Belgium 0.6 0.6% ✓ ✓ #1 ✓ ✓

Total top 25 79.3 84.5% 20 20 17 16 11Eurofins present in 20 countries of world's top 25:

73.7 78.6%

+ other countries 7.7 8.2%Eurofins present in more than 50 countries:

81.5 86.8%

Eurofins is already present in countries generating over 86% of the world’s GDP… but still has lots of room to grow

…and penetrates

the world’s Top

25 economies

with more and

more of its

services!

40


1987 – H1 2021: In only 33 years we built a unique global network

From 1 laboratory in Nantes (France) in 1987 to 900 laboratories around the world in 2021!

From 4 employees in 1987 to 55,000 in July 2021!

Now operating in over 50 countries!

Eurofins ‘ site map at 31 December 2020

41


Global trends in regulation support the business

• Strongly regulated markets (EU, U.S.) are still amending and adding regulations

• Eastern European countries catching up with EU regulations

• Fast development of regulation in Asia

• Regulation used for support of trading blocks (e.g. EU, NAFTA, ASEAN)

Major pieces of legislation Key areas of food regulation

• European Food Regulation (EC)178/2002

• U.S. increasing government evaluations of organ procurement

organizations aimed at increasing the number of organ transplants

• EU new regulations on testing medical devices

• European REACH directive

• U.S. Country of Origin Labelling (COOL) law

• PRC Food Safety Law in China

• Food Safety Modernization Act (FSMA) in the U.S.

• Comprehensive Review of Food Labelling Law and Policy in

Australia & New Zealand

• More stringent regulations around per- and

polyfluoroalkyl substances (PFAS)

• Food imports

• Labelling (e.g. allergen, origin label, reference

intakes)

• Foodstuffs (marketing standards for beverages,

meat, fish, dairy products)

• Pesticides

• GMO & GM products

• Additives (vitamin & mineral fortification,

flavourings, sweeteners, enzymes)

42


Outsourcing adds to market growth Examples of laboratories outsourced to Eurofins

MML Alrijne Clinical Diagnostics Netherlands

Labser Food and Feed testing Spain

Axéréal & Terrena Galys agricultural laboratories France

Signify Materials Analysis and Reliability The Netherlands

Astellas Astellas Analytical Science Labs Japan

Danish Hydrology Inst. Official water reference lab Scandinavia

Suez/Sita Envirolab The Netherlands

Danish farmers association Steins’ water/environment laboratory Denmark

Lyon University Hospital Phase I Activity France

Austrian Research Institute Food testing Austria

Clermont University Mineral water analysis France

Company Outsourced Activity Country

Raisio Group Food product testing Finland

Mondi Environmental, paper/pulp testing Slovakia

DLG Group Food and feed producer Denmark

Miljølaboratoriet Environmental testing network Denmark

BASF/QTA Environmental, chemicals U.S.

MWH Global Environmental, water-testing U.S.

TÜV SÜD Dioxin Analysis Germany

Cranswick plc Food testing UK

Danone Infant and clinical nutrition analysis Germany

= Food and feed = Environment = BioPharma = Specialised Material Sciences = Clinical Diagnostics

43


Meaningful industry consolidation is underway

Source: Mergermarket, Company announcements, Bloomberg Terminal, Estimates based on publicly available information

Selection of recent significant transactions in the testing industry

Date Company Acquirer Geography Sales (€m) EV (€m) EV/Sales (x) EV/EBITDA (x)

2020

November Synlab Analytics & Services SGS EU 202 550 2.7x 16.2x

AVERAGE 2.7x 16.2x

2019

November LGC Cinven and Astorg UK 525 3,519 6.7x 17.1x

July Genomic Health Exact Sciences US 507 2,816 5.6x 25.0x

July Quotient Sciences Permira UK 129 705 5.5x 17.0x

July Just Biotherapeutics Evotec US 18 80 4.5x N/A

April Paragon Catalent US 178 1,067 6.0x 21.4x

AVERAGE 5.7x 20.1x

2018

September Genewiz Brooks Automation US 102 383 3.8x N/A

July Halo Cambrex US 87 353 4.0x 15.7x

March BIO7 Cerba FR 110 500 4.5x N/A

March Integrated DNA Technologies Inc. Danaher Corp US 163 1,628 10.0x N/A

AVERAGE 5.6x 15.7x

2017

September Chiltern International Labcorp US 133 990 7.4x N/A

June EUROIMMUN PerkinElmer DE 166 1,139 6.9x 32.0x

May Patheon Thermo Fischer NL 1,712 6,424 3.8x 18.1x

April Exova Element Materials Tech UK 401 743 1.9x 9.4x

January Cerba PSP, Partners Group FR 630 1,800 2.9x 12.0x

AVERAGE 4.6x 17.9x

2016

December Unilabs Apax IX CH 675 1,500 2.2x 11.8x

November Cepheid Danaher US 485 3,770 7.8x N/A

January WIL Research Charles River US 194 527 2.7x 13.0x

AVERAGE 4.2x 12.4x

2015

December Element Materials Technology Bridgepoint UK 270 900 3.3x 12.2x

December LGC KKR UK 358 1,237 3.5x 14.2x

October Professional Service Industries (PSI) Intertek US 227 290 1.3x 7.6x

July Amedes Antin Infrastructure Partners DE 399 775 1.9x 9.7x

June Environmental Resources Mgmt Omers Private Equity UK 835 1,511 1.8x 14.4x

June Bio-Reference Laboratories Opko Health US 787 1,337 1.7x 12.6x

June Synlab (Majority stake) Cinven DE 756 1,750 2.3x 12.1x

May Labco Cinven FR 650 1,200 1.8x 9.1x

AVERAGE 2.2x 11.5x

2014

November Covance Labcorp US 2,465 5,320 2.2x 16.5x

June Zygo Corporation AMETEK US 142 257 1.8x 13.0x

February Maxxam Analytical International Corporation Bureau Veritas SA CA 179 433 2.4x 12.5x

January Diagnósticos Da América Sa Cromossomo Participações Ii Sa BR 1,009 1,420 1.6x 8.7x

AVERAGE 2.0x 12.7x

44


Eurofins’ strategy aims at building long lasting competitive advantage in very attractive markets

• Extensive expertise in local regulations for all major markets, and

one-stop contact for compliance in multiple countries

• Globally reliable standards of high quality and consistency

• International key accounts management

• Internet-based transactions and access to testing results

• Competence Centres & R&D activities

• Proprietary technologies (e.g. proof of origin, virus

syndromic panels, authenticity testing, etc.)

• Continuous development/acquisition of advanced

technologies

• Best in class state of the art laboratories

Leading technology Quality of customer service

One stop shop Pure-play laboratory operator

• International network operating across more than 50 countries

• Vast technological portfolio with more than 200,000 validated

methods

• Over 450 million tests performed per year

• But one contact person for each customer at their local laboratory

• Industrialised processes, bespoke IT solutions

• Unrivalled expertise accessible to all customers

• Continually expanding geographical coverage

• Proven operating model that can be rolled-out in various/multiple

markets

45


Credit Suisse report shows that family-owned businesses outperform their peers*

…supported by superior growth and Profitability

Revenue and EBITDA growth is stronger, EBITDA margins are

higher and cash flow returns are better.

Family-owned companies also appear to have a greater focus on

innovation as research and development (R&D) spending is

higher.

Family-owned companies have a

longer-term and conservative focus

Company interviews show: family-owned companies have above-

average-quality characteristics than non-family owned peers.

Family-owned companies on average tend to favor capital

preservation and long-term value creation rather than more

short-term gains.

Family-owned companies on average tend to have slightly better

results in terms of ESG scores than non-family-owned companies.

Family-owned companies outperform non-family-owned peers…

Family-owned companies outperformed in every region (excess returns in Asia ex Japan broadly in line with those in Europe, given an

annual average outperformance since 2006 of 500 basis points) and in every sector.

*Source: Credit Suisse Research Institute: The Family 1000: Post the pandemic ; September 2020

46


Contents



▪ Biopharma Testing Services

▪ Food Testing

▪ Environment Testing

▪ Clinical Diagnostics

▪ Other


▪ ESG

▪ Outlook


▪ Appendix

47


The Pharma testing market is both healthy and full of potential

• The increasing complexity of clinical trials leads to increasing amounts of diagnostic procedures

performed per patent

• Regulatory bodies (e.g. FDA) are demanding more study data to improve safety

• New wave of biologics require more testing

• Clinical trial processes are becoming increasingly rigorous to ensure drug efficacy

• The spend per drug trial is rapidly increasing

Need for big pharma

companies to expand

new drugs pipelines

Rapid technological change &

increasing complexity in testing

require ongoing investment in

technology & expertise

Greater trial complexity & size will increase likelihood of using CROs

48


Underlying trends are intact for continued growth

• The Drug Discovery market is growing rapidly thanks to increasing R&D budgets,

applicability of big data and artificial intelligence and cost optimisation

requirements. It is estimated to grow at a CAGR of 14% between 2020 and 2025

to reach USD 21.4bn by 2025*

• In 2020 the FDA approved 53 novel drugs and 27 in H1 2021**

• The FDA has approved 29 biosimilars*** since 2015

o Drug approvals fuel reinvestment across the R&D value chain

• Record cash on biotech balance sheets provides R&D funding through 2020

Source: EvaluatePharma, May, 2019

• Sponsors outsource drug development to:

- Reduce their fixed cost base

- Access competencies that they do not have in-house

- Access experience and regulatory expertise in new geographies

• R&D outsourcing rising rapidly:

- In 2018 drug sponsors spent ca.$86bn on outsourced R&D services surpassing spend on internal staff and infrastructure by ca.$20bn, suggesting over 56%

of R&D services are now outsourced by drug sponsors

- According to the Tufts Center for the Study of Drug Development, study initiation cycle time is 77 days faster for CROs identifying and managing new

investigative sites, compared to studies managed directly by drug sponsors

- R&D pipelines continue to grow and a growing number of smaller pharma/biotech companies are entering the market

Source: Tufts Center for the Study of Drug Development (Tufts CSDD), 5 Mar, 2019

* https://www.marketsandmarkets.com/Market-Reports/drug-discovery-services-market-138732129.html?gclid=EAIaIQobChMIq9j7kaOA8gIVpCs4Ch1jmQK8EAAYASAAEgJ9QfD_BwE Note: this study includes markets and sub segments not served by Eurofins

** https://www.fda.gov/drugs/new-drugs-fda-cders-new-molecular-entities-and-new-therapeutic-biological-products/novel-drug-approvals-2021 - *** https://www.fda.gov/drugs/biosimilars/biosimilar-product-information

Worldwide Drug R&D Spending ($ bn)

https://www.marketsandmarkets.com/Market-Reports/drug-discovery-services-market-138732129.html?gclid=EAIaIQobChMIq9j7kaOA8gIVpCs4Ch1jmQK8EAAYASAAEgJ9QfD_BwE

https://www.fda.gov/drugs/biosimilars/biosimilar-product-information

49


More than 90% of the top 20 largest global biopharma companies are clients of Eurofins

Top 10 global

biopharma companies**

Johnson & Johnson (US)

Roche (CH)

Pfizer (US)

Bayer (DEU)

Novartis (CH)

Merck (US)

GlaxoSmithKline (UK)

Sanofi (FR)

AbbVie (US)

Abbott (US)

Global CRO Market Outlook*

Eurofins biopharma locations

Eurofins’ site map as of December 2020

*Source: CRO Industry Primer, 20 June 2016, Credit Suisse **Source: https://www.pharmapproach.com/top-10-pharmaceutical-companies-in-the-world/

https://www.pharmapproach.com/top-10-pharmaceutical-companies-in-the-world/

50


Contents




▪ Food Testing



▪ Other


▪ ESG

▪ Outlook


▪ Appendix

51


Consumers’ increasing

awareness and demand

for safe and high quality

food

The Food testing market enjoys robust growth drivers

▪ Compels industry to strengthen its testing programs

▪ New products (GMOs, new packaging, etc.) create need for new tests

▪ Governments increase regulations on food control

▪ Brands have become more global and vulnerable to contaminations

▪ Transparency and traceability are becoming the priorities

▪ Increasing pressure on producers and manufacturers to invest in testing

Food scares and

crises, widely

covered in the media

Demand for a high quality, state-of-the-art, international network of laboratories

Globalisation: Raw

materials sourced

from countries with

different QC

practices

Outsourcing of

industry’s internal

or state- owned

laboratories

52


Retail & Distribution

Eurofins’ Food & Feed testing offering is the most comprehensive in the market

Agricultural

production, product

development

Production

Dioxins Veterinary drug

residues

Organic residues POPs

Heavy metals Irradiation

Quality ControlVitamins

GMOLabelling

PurityNutritional

Microbiology Sensorial

Authenticity Pesticides

Mycotoxins Allergens

53


High profile food scares have expensive consequences for producers…

YearBrand /

CountryContamination Impact Cost Source

2021 Tyson Foods Inc. Listeria contaminating ready-to-eat

chicken products

Recall of some 8,955,296 pounds of ready-to-eat chicken products due to a potential contamination with Listeria monocytogenes Unquantified The New York

Times

2019 Wilke Waldecker

Fleisch- und

Wurstwaren

Listeria outbreak contaminating

meat products

Over 1,000 items recalled across European retailers/supermarkets

5 deaths after contracting listeria infections

Unquantified Food Safety News

/ The Brussels

Times

2018 USA JBS

Tolleson

Listeria and salmonella in ready-to-

eat salads and premade food items

About 6.5 million pounds of beef was recalled by Arizona-based meat producer JBS Tolleson. Millions of pounds of ready-to-eat salads

and premade food items at several big name retailers such as Harris Teeter, Kroger, Whole Foods, 7-Eleven, Trader Joe's and Walmart

have been recalled due to the potential risk of listeria and salmonella contamination.

Unquantified USA Today

2017 Europe Fipronil in European eggs Farms shut down in the Netherlands, Belgium, Germany and France. Supermarkets have also withdrawn millions of eggs from sale Unquantified BBC news

2015 USA Chipotle E. coli outbreak at restaurants in

multiple states

53 people sick, 22 hospitalized in 9 states across the U.S. 15% decline in like-for-like sales during the period ~ USD 8bn

Market value

lost

CNN

2013 Europe Beef products contaminated with

horse meat

Sales of frozen burgers plunged 43% and frozen ready meals fell 13% in the UK between 21 Jan – 17 Feb, 2013, at the height of the

scandal

~ €360m

Market value

lost for Tesco

The Guardian

2011 Germany Dioxins in eggs, poultry and pork About 3,000 tons of feed contaminated with oil intended for use in bio-fuels, 4700 farms closed, revenues lost, tightening regulation Unquantified BBC News

2009 Nestlé E. coli in cookie dough 70 people sick, 25 people hospitalized, job losses, withdrawal of 86 million "cookies-worth”, court proceedings initiated Unquantified CNN Health

2008 Kellogg’s,

Unilever, General

Mills

Salmonella in peanut butter 9 dead, 683 people sick, global recall of peanut butter and related products (1,600 types of products involved) ~ USD 100m

Est. only for

Kellogg’s

Bloomberg

2008 Irish pork Dioxins Recall of Irish pork products, job losses, destruction of 100,000 pigs > €300m Irish Exporters

Association

2008 Sanlu/ Fronterra

+ global brands

Melamine in dairy products 50,000 infants ill, 6 deaths, global recall of dairy and related products, criminal charges in China Unquantified BBC News

54


Eurofins is meeting the demands of global players for high quality testing

The largest global food & beverage producers and retailers are clients of Eurofins

Food and Beverage Retailers

Nestlé Switzerland

PepsiCo USA

Unilever UK /Netherlands

Mars USA

Coca-Cola USA

Danone France

Kraft Heinz USA

McDonalds USA

Kelloggs USA

Pernod Ricard France

Wal-Mart Stores USA

CostCo USA

Kroger USA

Lidl Germany

Aldi Germany

Carrefour France

Tesco UK

ITM Enterprises France

Metro AG Germany

Casino Guichard France

Eurofins’ site map as of December 2020

55


Contents




▪ Food Testing



▪ Other


▪ ESG

▪ Outlook


▪ Appendix

56


▪ Increasing demand by citizens for a clean environment

▪ EU expanding regulation (e.g. REACH)

▪ Increasingly long list of products identified as toxic

▪ Requirement for more sophisticated analyses and more expensive equipment

▪ Increasing demand for per- and polyfluoroalkyl substances (PFAS) testing

The Environmental testing market continues to grow

Rise in

contamination &

pollution issues

Progress in epidemiology

& medicine has identified

more compounds as toxic

Compels industry to increase testing and outsource internal labs

57


• Outdoor pollutants

• Indoor and ambient pollutants

Eurofins serves all the main environmental testing markets

SOILAIRWATER

Eurofins is the No.1 environmental testing service provider in the world*

• Drinking water and groundwater analysis

• Full range of contaminants

• Analysis of soil for full range of

contaminants

Consulting and

sampling companies

are natural partners

Lancaster Environmental

Testing is the laboratory of

choice for Fortune 500

companies in the USA Eurofins’ site map as of December 2020

*Management estimate based on available information

58


Contents




▪ Food Testing



▪ Other


▪ ESG

▪ Outlook


▪ Appendix

59


• Nowadays, Clinical Genetics is a central element in healthcare and Clinical Diagnostics, contributing to every stage of

patient care

• Throughout all three of Eurofins’ start-up programs, several large investments in global clinical genetics laboratories have

been made, giving Eurofins a unique portfolio of services for cutting-edge applications.

• Eurofins, through acquisitions and start-up laboratories, is investing heavily in advanced technologies:

•

Eurofins is setting up a global network of clinical

genetics laboratories

Developments in genetics and genomics will have a

significant impact on tomorrow’s clinical diagnostics market

Since 2014, Eurofins has already developed a network

of laboratories focused on clinical genetics in several

countries around the globe, including: India, Japan,

France, Germany, Spain, Italy and the USA

• EGL

• NTD

• Boston Heart

• ViraCor

• Diatherix

• Biomnis

• Megalab

• Lifecodexx

• Genoma

• Clinical Genetics Bangalore start-up

• Clinical Genetics Tokyo start-up

US

A

• Predictive tests for

genetic diseases and

oncology

• Side effects/efficacy

of drugs

• Rare diseases testing

• Non Invasive Prenatal Testing

• Personalized medicine offering

patients individualized treatment

based on their genetic and metabolic

profiles

• Next Generation Sequencing -Whole

Genome Sequencing

Eu

rop

e

AP

AC

60


Eurofins is expanding its global offering in non-invasive prenatal testing (NIPT)

In September 2017, Eurofins’ Genoma introduced GeneSafeTM, the first non-invasive prenatal test that screens for both de novo (non-inherited gene mutations) and

inherited single-gene disorders.

▪ GeneSafeTM detects over 40 severe genetic disorders: that may occur in absence of any family history of the condition.

▪ GeneSafeTM is the first NIPT to detect disorders that are increasingly prevalent with advanced paternal age: later-stage parenthood is becoming increasingly

common.

▪ GeneSafeTM is more advanced than other NIPTs currently available: identifying fetal conditions that could be missed by traditional prenatal testing.

▪ Many disorders screened with GeneSafeTM:

▪ Are not typically associated with abnormal prenatal ultrasound findings.

▪ May not be evident until late second/third trimester or even after delivery.

In July 2017, Eurofins acquired a majority stake in LifeCodexx AG, Europe’s first NIPT provider and one of the most innovative NIPT players.

▪ LifeCodexx has been developing innovative and clinically validated tests since 2010.

▪ LifeCodexx’s PrenaTest® was Europe’s first NIPT: for the determination of the most common chromosomal disorders in unborn children. This was a

substantial development that changed prenatal diagnostics considerably.

▪ LifeCodexx, following a positive CE marking, began rolling-out their unique qPCR-based NIPT capabilities in December 2016: leading to increased cost-

efficiency and rapid turnaround time, another significant innovative step in the NIPT field.

Eurofins NIPTs are very reliable (>99% of conclusive results), fast (turnaround time under 2 weeks, qPCR assays only take 2-3 days) and simple (only a

small blood sample required). Eurofins is the first provider to offer the aforementioned novel NIPT tests, GeneSafeTM and qPCR-based NIPT, to the market.

61


• Largest clinical diagnostics

provider in North Rhine-

Westphalia

• Access to over 900 physicians,

120 hospitals and around 20

local health authorities

Genomics Services

Eurofins commences genomics footprint with

the acquisition of Medigenomix (2001), MWG

(2004), Operon (2007) and AROS AB (2013)

One of the world’s leaders in

Genomics Services

• Custom DNA Sequencing &

Synthesis

• Gene Synthesis/Molecular

Biology

• Genotyping & Gene Expression

• Next Generation Sequencing

Genomics is one of the key technologies

enabling personalised medicine

Application of Genomics

Technology in Bioanalytical testing

Eurofins deploys genomics technology to

further develop its analytical portfolio for food,

environment and pharmaceutical testing

• Reference lab for

transplantation & time-sensitive

tests

• High-complexity testing for

infectious diseases, allergy and

immune disorders

2000-2009 2010-2014 2015

Establishing platform to deploy genomics expertise for development of

innovative clinical diagnostic tests to serve global healthcare community

• Leading diagnostics lab for

cardiovascular disease

• Proprietary plus clinical and

genetic tests & cardio-

informatics capabilities

• Proprietary technology (TEMP-

PCR) for single-tube

identification of multiple

pathogens

• Ultra-fast and precise, highly

parallel detection of infectious

diseases and drug resistance

• One of the leading groups of

medical biology labs in

France

• Competency in immunology,

oncology and infectious

diseases

• One of the largest esoteric

diagnostic labs in Europe

• Strong reputation in infectious

diseases & clinical trials for the

pharma industry

• First academic lab to bring

Next Generation Sequencing

(NGS) to commercial market

• Renowned for testing rare

genetic disorders

• Carrier screening, cancer

testing and exome sequencing

2016-2020

• Reference lab for

reproductive genetic testing

• Pioneer in first trimester non-

invasive prenatal screening

test for Down Syndrome

• One of the top 5 clinical

diagnostic laboratory

groups in Spain

• Largest national coverage

• Reference lab focused on

donor eligibility and

microbiology testing for

transplantations.

• Broad menu of infectious

disease screening assays

Eurofins Specialized Clinical Diagnostic Network Evolution

• European specialist in non-

invasive prenatal testing (NIPT)

• Launched Prenatest® in 2012,

the first NIPT in Europe

• One of the leading specialty

diagnostics testing providers in

Italy

• Strong reputation in molecular

biology and cytogenetics

• leading player in clinical diagnostics in

greater area of Santos, Sao Paulo state

• A leading Belgian laboratory

performing human medical testing

covering all branches of clinical

biology

• Provides molecular diagnostics and

pathology lab services

• Serves over 2,000 General

Practitioners in the NL

• Provides laboratory services

specialized for transplantation

and biomedical applications.

• Start-up with innovative test (TruGraf®)

able to rule out silent subclinical

rejection in kidney transplant recipients

with stable renal function

• The pioneer in non-invasive prenatal

testing (NIPT) and a leading player in

genetic analysis in Japan

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRw&url=http://raindancetech.com/profile-story-madhuri-hegde-executive-director-of-the-emory-genetics-laboratory/&ei=oCWLVePMMM-dyATI2oGoCQ&psig=AFQjCNGO3iNJr08eN0EGuJWR2wSnrHR8dw&ust=1435268847855349

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRw&url=http://www.marketwired.com/press-release/viracor-ibt-laboratories-names-dr-mark-roberts-president-and-chief-executive-officer-1180801.htm&ei=wziMVYr2LtGXygSP2Jb4Dg&bvm=bv.96782255,d.cGU&psig=AFQjCNHvXLxrqyRnkMJW--gzm2-F690sQw&ust=1435339295651581

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRw&url=http://uniquemedicalcenters.com/boston-heart-diagnostics-tests/&ei=EjmMVa6xEMOWygT9v4O4BQ&psig=AFQjCNE1NPA4SsMJCh5q_TiS-lMUmVUw-A&ust=1435339396057136

62


Eurofins Specialised Clinical Diagnostic Footprint

Establishing leadership in targeted higher-growth niche areas of the clinical testing market

Humangenetik Dr. Finckh

Dortmund

Clinical Genetics Japan

Clinical Diagnostics Pte Ltd

Clinicas Pinto de Barros

MML Alrijne

63


Eurofins has built a valuable portfolio of Routine and

Specialized Clinical Diagnostics Laboratories in France

• Eurofins Clinical Diagnostics operations in France amount to ca. €400m of revenues.

• These €400m revenues were acquired over the last 4 years for ca. €600-700m, representing an

average EV / revenue acquisition multiple of 1.5x to 1.75x.

• Over the last three years, Clinical Diagnostics companies in France have, on average, been

acquired at over 3x target revenues.

Comparable M&A transactions in Clinical Diagnostics in France:

Date Target Acquirer EV in €m EV / target

revenues

March 2018 BIO7 Cerba 500 4.5x

January 2017 Cerba PSP, Partners Group 1,800 2.9x

64


Contents




▪ Food Testing



▪ Other


▪ ESG

▪ Outlook


▪ Appendix

65


Eurofins has also established global leadership positions in 5 high potential niche markets

Genomic ServicesAgroscience CRO**

ServicesDiscovery Pharmacology Cosmetics Testing

Advanced Materials

Sciences

Eurofins position

N°2*

Worldwide

N°1*

In Europe

Start 2004

N°1*

worldwide

Start 2006

N°1*

worldwide

Start 2010

N°1*

worldwide

Start 2014

N°1*

worldwide

Start 2017

Business line

description

Global network of state-of-the-

art laboratories offering the most

advanced technologies for

genetic analysis of all kinds of

samples and fast DNA-synthesis

service. Provides opportunities

to replace traditional analytical

methods by genomics methods

that offer process improvements

and economies of scale (e.g.

Pathogen testing in food and

environment)

Eurofins Agroscience CRO

Services has the broadest global

footprint of all CROs, offering a

unique portfolio of expertise

including analytical, regulatory

and field support to plant

breeders, agrochemical,

biopesticide, biocide and fine

chemical manufacturers.

Eurofins Pharma Discovery

Services is recognized as the

industry leader for providing drug

discovery researchers the

largest and most diverse

portfolio of standard and custom

in vitro safety & pharmacology

assays and panels for drug

screening and profiling. Eurofins

also offers a broad portfolio of

over 3,500 drug discovery

services and 1,800 products.

Network of laboratories offering

a full range of services to

retailers and cosmetic

manufacturers from raw

materials suppliers to finished

products producers. Services

include: consulting, physico-

chemical analysis, microbiology,

in-vitro studies, clinical studies

and consumer research.

Eurofins EAG laboratories is a

scientific leader helping clients

understand the physical

structure, chemical properties

and composition of their

materials. EAG offers the most

comprehensive portfolio of

analytical techniques including:

advanced microscopy, chemical

analysis, compositional analysis,

metallurgical analysis,

contaminant identification,

deformulation, trace elemental

analysis, etc.

Listed or larger

peers

IDT/Danaher,

Genewiz/Brooks, etc.SGS Evotec, Albany Molecular

Research, Charles River, etc.SGS

Exponent, Element Materials,

etc.

*To the best of Eurofins’ knowledge, based on data available to the Group **CRO: Contract Research Organization

66


Eurofins is developing high Barriers to Entry around its businesses

Offering a premium quality service …

• Portfolio: over 200,000 analytical methods – unique in the

world and ahead of competition

• Global laboratory network: fully set up for cross-selling

worldwide to customers

• Accreditations: multiple international accreditations

• One-stop shop: single point of contact for compliance to

regulations of many countries

• Standardised testing in more than 50 countries

• Sales and marketing: international teams plus dedicated

key account management

• Reputation: high standards of quality and consistency -

the Eurofins brand

• Internet: web-based transactions and online access to

testing results increase switching costs

... and leveraging internal efficiencies

• Industrialising the laboratory process: rationalisation of

sites and personnel

• Competence Centres: high volume laboratories providing

highest levels of expertise and service

• Technology: the latest available in the market providing the

most accurate results

• Economies of scale in Group purchasing and sales

functions

• IT systems: cross-Group information tools and standardised

production systems

67


Contents




▪ ESG

▪ Outlook


▪ Appendix

68


Record H1 results

Half Year 2021 Half Year 2020

+/- Δ

Adjusted

Results

+/- Δ

Reported

Results

Adjusted1

Results

SDIs2 Reported

Results

Adjusted1

Results

SDIs2 Reported

Results

Revenues, EURm 3,272 - 3,272 2,323 - 2,323 +41% +41%

EBITDA3, EURm 1,008 -19 989 493 -35 459 +104% +116%

EBITDA Margin, % 30.8 - 30.2 21.2 - 19.7 +960bps +1,050bps

EBITAS4, EURm 813 -29 785 311 -52 259 +162% +203%

Net Profit5, EURm 582 -167 415 187 -92 95 +211% +339%

Basic EPS6, EUR 3.05 -0.87 2.17 1.03 -0.51 0.52 +196% +317%

1 Adjusted results - reflect the ongoing performance of the mature and recurring activities excluding “Separately Disclosed Items”

2 Separately disclosed items – include one-off costs from integration, reorganisation, discontinued operations and other non-recurring income and costs, temporary losses and other costs related to network expansion, start-ups and new

acquisitions undergoing significant restructuring, share-based payment charge, impairment of goodwill, amortisation of acquired intangible assets, negative goodwill, loss/gain on disposal and transaction costs related to acquisitions as well

as income from reversal of such costs and from unused amounts due for business acquisitions, net finance costs related to borrowing and investing excess cash and one-off financial effects (net of finance income) and the related tax effects

3 EBITDA – Earnings before interest, taxes, depreciation and amortisation, share-based payment charge, impairment of goodwill, amortisation of acquired intangible assets, negative goodwill, loss/gain on disposal and transaction costs

related to acquisitions as well as income from reversal of such costs and from unused amounts due for business acquisitions

4 EBITAS – EBITDA (as defined above) less depreciation and amortisation

5 Net Profit – Net profit for equity holders after non-controlling interests but before payment to Hybrid capital holders

6 Basic EPS – Basic EPS attributable to equity holders of the Company and hybrid capital investors

Key Highlights

• Record first six months, with strong growth of revenues (EUR 3,272m, +41% vs H1 2020) thanks to strong growth of Core Business and sustained revenues from COVID testing & reagents (close to EUR 750m)

• Record adjusted EBITDA of EUR 1,008m (+104% year-on-year) and 30.8% margin (vs 21.2% in H1 2020)

• Reported Net Profit5 of EUR 415m (12.7% of revenues, +339% vs EUR 95m in H1 2020)

• Record EPS6 of EUR 2.17 (EUR 3.05 adjusted), up 317% vs H1 2020

69


Very strong results in terms of revenues and margin, ahead of the Group’s most recent objectives

Full Year 2020 Full Year 2019

+/- Δ

Adjusted

Results

+/- Δ

Reported

Results

Adjusted1

Results

SDIs2 Reported

Results

Adjusted1

Results

SDIs2 Reported

Results

Revenues, EURm 5,438.8 - 5,438.8 4,562.8 - 4,562.8 +19.2% +19.2%

EBITDA3, EURm 1,412.7 -61.8 1,350.8 930.7 -97.8 833.0 +51.8% +62.2%

EBITDA Margin

(%)

26.0% - 24.8% 20.4% - +18.3% 560bps +650bps

EBITAS4, EURm 1,023.6 -98.7 924.9 573.5 -136.5 437.0 +78.5% +111.6%

Net Profit to

Equity, EURm

706.5 -167.0 539.4 359.4 -164.1 195.2 +96.6% +176.3%

Basic EPS5, EUR 3.63 -0.91 2.71 1.75 -0.93 0.82 +107.4% +230.5%

1 Adjusted results - reflect the ongoing performance of the mature and recurring activities excluding “Separately Disclosed Items”.

2 Separately disclosed items – include one-off costs from integration, reorganisation, discontinued operations and other non-recurring income and costs, temporary losses and other costs related to network expansion, start-ups and new

acquisitions undergoing significant restructuring, share-based payment charge, impairment of goodwill, amortisation of acquired intangible assets, negative goodwill, loss/gain on disposal and transaction costs related to acquisitions as well

as income from reversal of such costs and from unused amounts due for business acquisitions, net finance costs related to borrowing and investing excess cash and one-off financial effects (net of finance income) and the related tax effects.

3 EBITDA – Earnings before interest, taxes, depreciation and amortisation, share-based payment charge, impairment of goodwill, amortisation of acquired intangible assets, negative goodwill, loss/gain on disposal and transaction costs

related to acquisitions as well as income from reversal of such costs and from unused amounts due for business acquisitions.

4 EBITAS – EBITDA (as defined above) less depreciation and amortization

5 Basic EPS attributable to equity holders of the Company

Key Highlights

• Very strong revenue growth in FY 2020 translated into improved margin, with adjusted EBITDA margin up by 560bps year-on-year

• Adjusted EBITDA of EUR 1,413m, significantly above the Group’s latest EUR 1,300m adjusted EBITDA objective for FY 2020 set in December 2020

• EPS5 increased by 107% to EUR 3.63 in FY 2020, largely driven by the increase in profitability and lower tax paid vs FY 2019 thanks to the usage of loss-carry forwards

70


Controlled Net Working Capital use

Net working capital as a % of revenues

282250

440

6.4%

5.3%

6.6%

H1 2019 H1 2020 H1 2021Net working capital (NWC) €m NWC/Revenues (Last Q*4)

Key Highlights

• Net working capital back to 2019 mid-year levels, at 6.6% of revenues, as temporary postponements of social charges and tax payments put in place by some governments in 2020 reversed in 2021

• DSOs1 and DPOs2 stable at 58 days and 52 days respectively

• Stable inventory at 2.5% of revenues, largely related to the ramp-up in response to COVID-19

1 DSOs: Days of Sales Outstanding: Trade account receivables excluding VAT, accrued sales, WIP, less Advanced payments and Deferred revenues by external sales of last three months multiplied by 90 days

2 DPOs: Days of Payables Outstanding: Trade account payables excluding VAT less prepaid expenses and deferred charges by purchases and Capex of last three months multiplied by 90 days

71


Net working capital intensity improved in FY 2020

NWC intensity

Invento

ryA

ccounts

re

ceiv

able

*A

ccounts

payable

262 250

308

5.3% 5.3%

FY 2019 H1 2020 FY 2020Net working capital (NWC) €m NWC/Revenues (Last Q*4)

79124

157

1.6%

2.6%2.3%

FY 2019 H1 2020 FY 2020

1,001 957

1,194

20.4% 20.2%

17.5%

FY 2019 H1 2020 FY 2020

Key Highlights

• Net working capital intensity decreased by 80bps in FY20 to 4.5% of revenues. The absolute change in NWC was largely driven by the impact of COVID-19 related activities

• Significant improvement in Days Sales outstanding (52 vs 60 days) balanced by slightly degraded Days Payables outstanding (53 vs 55 days)

• Inventories doubled during 2020 to EUR 157m to enable the Group to respond quickly to COVID-19 testing and reagents demands

4.5%

410389

542

8.3%

8.2%

8.0%

FY 2019 H1 2020 FY 2020

*Accounts receivable including contract assets

72


Consistent capital investments to develop a unique network of laboratories and state-of-the-art IT solutions

361

319

350

2018 2019 2020

Net Capex (EUR m) FY 2020 Key Highlights

• Net Capex/Revenues ratio fell to 6.4% of Group’s revenues in FY20 vs. 7.0% in FY 2019 as the Group entered the final stage of its significant 2015-2020 investment programme

• Net Capex spend of EUR 350m, with Buildings and Leasehold improvements representing ca. 40%, Laboratory equipment ca. 35%, and IT Capex ca. 20%

• Net Capex spend slightly above the Group’s most recent objective of EUR 300m, reflecting the requirements to ramp up the Group’s COVID-19 testing capacity

Infrastructure1 Capex (EUR m)

1 Infrastructure spend includes Land, Building and Leasehold Improvements, Assets in Progress and Machinery and Laboratory Equipment (net of proceeds from sales)

2 IT intangible assets (e.g. software) and hardware capex

270

240

274

2018 2019 2020

Machinery and Laboratory Equipment

Real Estate

64 64 64

2018 2019 2020

IT 2 Capex (EUR m)

73


Return on Capital Employed

Before IFRS 16

implementation

After IFRS 16

implementation2

(EURm) 2016 2017 2018 2019 2020

Average capital employed at the end of

each quarter2,399 2,803 4,521 6,304 6,423

Average capital employed excluding

Goodwill at the end of each quarter657 785 1,080 1,925 1,996

Adjusted EBITAS 358 400 521 574 1,024

ROCE¹ 9.1% 15.9%

ROCE¹ (return on capital employed

excluding Goodwill)54.4% 50.9% 48.2% 29.8% 51.3%

▪ Heavy investment phase during 2016-2020 for:

▪ Laboratory extensions of existing sites – many

new sites in 2019 and 2020 not yet highly utilised

▪ Start-up laboratories resulting in early operating

losses (part of SDI’s) included in capital employed

but not contributing profits

▪ IT infrastructure set up, development and

deployment of new generation IT solutions not yet

generating positive impact on efficiency and

margins

▪ Goodwill from M&A with over 110 acquisitions in

2017 and 2018 increasing capital base

▪ Restructuring of acquired laboratory network (part

of SDI’s) to fit with hub-and-spoke model

▪ Resulting in dilution of ROCE short-term

▪ Hurdle rate of 12% ROCE (pre-tax) by Year 3

▪ ROCE should start increasing again when investment

phase is completed and Eurofins is reaping the

benefits from past investments

¹ ROCE = adjusted EBITAS / average capital employed over previous 4 quarters2 IFRS 16 added c. EUR 490m right-of-use (ROU) assets in 2019 and c. EUR 514m in 2020

into the capital employed figures

74


Very solid liquidity position and significant reduction in leverage

Debt maturity profile (EUR m)Leverage1

1 Leverage: net debt / PF12M adjusted EBITDA (corrected for the estimated impact of the cyber-attack in 2019)

3.4x3.2x

2.5x

1.6x

1.0x

FY2018 FY2019 H1 2020 FY 2020 H1 2021

Key Highlights

• Reduction of close to EUR 500m in corporate senior gross debt following successful refinancing exercises

• Capital management, driving 10% reduction in net debt, from EUR 2,242m at December 2020 to EUR 2,015m at the end of June 2021

• Leverage ratio significantly decreased to 1.0x at the end of June 2021, from 1.6x at the end of December 2020 and 2.5x at the end of June 2020

• Refinancing exercises carried out in H1 2021 enabled the Group to secure a €750m Eurobond issued in May 2021 with a 10-year maturity at an annual interest of 0.875% and will bring the average cost of financing to below 1.8% from H2 2021 onwards

• Investment grade credit rating of BBB- with stable outlook assigned by Fitch Ratings in May 2021 in addition to Moody’s similar long-term issuer rating of Baa3 with stable outlook assigned in July 2020

• Overall, at June-end 2021, Eurofins enjoys a strong liquidity position and a longer debt maturity profile

447.75

302.25

750

45.5

233.5175.5

127.5

300

300

400

0

100

200

300

400

500

600

700

800

2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Hybrid (1st call) Schuldschein

75


Solid Balance Sheet

Hybrid – Ba2 rated

• €650m Eurobond issued in Jul 2017 with a nominal amount

outstanding of €447.7m, 7-yr maturity (Jul 2024) at an annual

interest of 2.125%

• €600m Eurobond issued in May 2020 with a nominal amount

outstanding of €302.2m, 6-yr maturity (Jul 2026) at an annual

interest of 3.75%

• €750m Eurobond issued in May 2021, 10-yr maturity (May 2031) at

an annual interest of 0.875%

Eurobond – Baa3/BBB- rated

• €300m hybrid issued in September 2019, callable at par by

Eurofins in August 2022. Bears a fixed coupon of 2.875% until

first call, Euribor 3m + 605.8 bp thereafter if not called

• €300m hybrid issued in April 2015, callable at par by Eurofins in

April 2023. Bears a fixed coupon of 4.875% until first call, Euribor

3m + 701 bp thereafter if not called

• €400m hybrid issued in November 2017, callable at par by

Eurofins in November 2025. Bears a fixed coupon of 3.25% until

first call, then 2.667% until Second Step-Up Date and 3.667%

thereafter if not called.

• On these hybrid instruments outstanding in 2021, a first

distribution on hybrid capital of EUR 14.6m was paid in April

(EUR 300m at 4.875%)

Schuldschein

• €550m Schuldschein loan issued in Jul 2018 with a nominal

amount outstanding of €232m offering a blended interest rate of

1.38%* with an average maturity of 5 years. Schuldschein was

structured with maturities of 4-yr (Jul 2022) and 7-yr (Jul 2025)

with both fixed and floating interest rates. Floating tranches

have been repaid in 2020 and in January 2021.

• €350 Schuldschein loan issued in Oct 2020 offering a blended

interest rate of 1.78% with an average maturity of 7.8 years. This

Schuldschein loan is structured in tranches of 5, 7 and 10 years,

with both fixed and floating interest rates, with more than 85% of

the transaction on the 7 and 10-year tenors.

*Calculated on the fixed tranches

76


Audit Coverage Continued Expansion

In 2019, the AGM appointed Deloitte Audit as auditor resulting in improved audit coverage by Tier 1 and

Tier 2 auditors.

For the year ended 31 December 2020, the coverage of Deloitte Audit and other auditors was as follows:

(1) Including review by Deloitte Audit of component auditors works

(2) Tier 1 (PwC, Deloitte, EY, KPMG)

Tier 2 (RSM, Grant Thornton, BDO, Mazars, Moore Stephens, Crowe, Baker Tilly)

2020 accounts 2019 accounts

Audit coverage for

Consolidated

Financial Statements

Tier 1 & Tier 2

auditors’ coverage

for statutory audits2

Audit coverage for

Consolidated Financial

Statements1

Tier 1 & Tier 2

auditors’ coverage

for statutory audits2

External Sales 71% 94% 70% 92%

EBITDA 80% 98% 84% 99%

Total assets 83% 97% 85% 97%

77


Contents




▪ ESG

▪ Outlook


▪ Appendix

78


Eurofins is positively contributing to 16 of 17 United Nations Sustainable Development Goals (UNSDGs)

We are aligned with 16 out of 17 UNSDGs both at central level, through the Eurofins Foundation and through the activities

of our business lines

79


Our Businesses are ESG positive

• We help improve health outcomes, ensure food safety and protect the environment

• E.g., our Environment, Food and Feed Laboratories:

o Assess safety of the whole water cycle and analyse waste toxicity

o Monitor air pollution and soil quality

o Contribute to developing more sustainable agricultural practices/ outputs

o Help minimise levels of pesticides, persistent organic/ chemical pollutants

o Provide audits to certify compliance with food safety and environmental standards

o Certify food packaging and contact materials, including their recyclability

• We have limited exposure to the carbon intensive industries such as oil and gas, fracking or transportation

80


We are an ESG enabler for our clients

• We help our clients improve their ESG measurement and monitoring

• Our world-leading, multidisciplinary expertise in laboratory testing and monitoring directly promotes human safety and environmental protection, including:

o Food Quality and Integrity

o Environmental Safety

o Seed Development and Crop Production including alternatives to meat

o Drug Development

o Patient Care, from Prevention to Prognosis & Treatment

o Hospitals, Industrial Sites and Offices Hygiene

81


Our ESG roadmap

1. Embed ESG targets into leadership performance and remuneration from 2021

2. Carbon neutrality by 2025:

a. Launch a carbon footprint reduction programme at regional level, managed

by our Business Leaders

b. Establish a CO2 inventory (scope 1, 2, 3) by 2022

c. Set 2022-2023 CO2-quantified emissions reduction targets & associated

implementable action plan at regional level

3. Set up a Group-wide Sustainability Programme with consolidated methods, models and

data

4. Improve diversity, including % of women in leadership roles through our global

Equality Driving Excellence (EDE) initiative

5. Continue to increase the Eurofins Foundation’s impact. In 2020, the Eurofins

Foundation trebled its donation budget and is now directly supporting:

a. Nearly 2x as many non-profit organisations worldwide compared to 2019

b. 75+ projects globally

6. Board development with the appointment of two new independent directors*, to bring the

total number to eight and achieve gender parity at Board level

*Including to replace one retiring member

82


Sustainability remains at the heart of Eurofins’ activities

1 Covering Scope 1, 2 and 3

In H1 2021 the Group continued to embed best practices and make further progress on all three dimensions of ESG:

• Established Sustainability and Corporate Governance Committee at Board level to demonstrate focus and commitment on these important topics

• Official roll-out of Eurofins’ Carbon Footprint Reduction programme at regional level, with management responsibilities extended to local CO2 Champions and Business Leaders

o Further progress made on Group-wide Carbon measurements, with aim to establish CO2 inventory1 by end of 2022

• Formal adoption of ESG targets focused on gender diversity, safety, environment and compliance for all Business Units and more Senior leaders

• Significant ESG-related engagement efforts made at Group level, including increased interaction with leading rating agencies as part of our Group-wide Sustainability Programme:

o Eurofins’ ESG rating by Sustainalytics improved from 'Medium Risk' to 'Low Risk’ in June 2021

Corporate Governance:

• Formal appointment of two highly experienced independent directors who officially joined the Board on 22 April 2021, bringing the total number of members to eight, of which four are women

• Appointment of Lead Independent Director (Pascal Rakovsky) on 22 April 2021

83


Global Equality Driving Excellence Initiative (EDE): 2020 Achievements and 2021 Goals

Increased

Female Leadership Global Equality Ambassador

Council (33 members)

Diversity Action Expanded to

Stance against Racism and

Support LGBTQ Rights

Equality Targets in Leadership

Performance encouraging YOY

improvements

Internal Job Postings

Visibility and Talent

Pools

Expanded Regional EDE

Council Meetings

2020 achievements 2021 goals

Mentoring Pilot

paralleling software

and internal process

Intranet, Newsletter

& Employee NPS Survey

1 Senior Leaders groups represented the top 29 people in 2020 vs the top 38 in 2021 and are composed of all Regional Business Leaders and above

Jan-20 Jan-21

Senior Leaders1 29 38

Male 26 31

Female 3 7

% Male 90% 82%

% Female 10% 18%

84


Contents




▪ ESG

▪ Outlook


▪ Appendix

85


2020 was another year of significant progress

1,044 1,226

1,410 1,950

2,537

2,971

3,781 4,563

5,439

3,902 3,933 4,172

4,635 4,549 4,689 4,796

5,100

4,601

2,321 2,468 2,365 2,448

2,901 3,129 3,165

3,375

3,084

5,188 5,422 5,471

5,312 5,566

5,905

6,237 6,138

5,235

-

1,000

2,000

3,000

4,000

5,000

6,000

7,000

2012 2013 2014 2015 2016 2017 2018 2019 2020

Source: Companies Annual Reports. Reported revenue figures for Intertek and SGS translated into EUR using annual average exchange rates

Reported Revenues, EUR m

86


Outlook: 2021 objectives upgraded. 2022 and 2023 objectives excluding Covid unchanged for now

1 Set on March 1, 2021

2 2022 & 2023 objectives set at average 2020 exchange rates and excluding any revenues from COVID-19 testing and reagents and any M&A beyond 31/12/2020 (i.e. organic Core Business ex. COVID-19 objectives), assuming full return to normal of

economies / markets to pre-pandemic levels

We upgrade 2021 objectives by 13% for revenues and by 36% for EBITDA (all at average H1 2021 exchange rates). FY 2022 and FY 2023 remain unchanged at this time as the duration and magnitude of the COVID-19 related contribution remain impossible to quantify due to uncertainty on new variants and public policy responses. However it is likely that significant levels of testing for COVID-19 may unfortunately continue at a meaningful level at least in 2022.

FY 2021 upgraded objectives EUR m FY 2021 previous objectives1 EUR m

o Revenues 6,150 Revenues 5,450 o Adjusted EBITDA 1,700 Adjusted EBITDA 1,250

FCF-Firm 700Net Capex 350SDI (at EBITDA le vel) 30M&A 150

FY 20222 (Core Business excl. Covid and M&A beyond 31/12/2020)

o Revenues 5,450o Adjusted EBITDA 1,300o FCF-Firm 750

FY 20232 (Core Business excl. Covid and M&A beyond 31/12/2020)

o Revenues 5,725o Adjusted EBITDA 1,375o FCF-Firm 800

For 2022 & 2023, in addition to these organic objectives,

potential proforma revenues from acquisitions of

EUR 150m in 2021 and EUR 200m in both 2022 and

2023 (consolidated at mid-year), which would bring

Group revenue objectives to:

• EUR 5,700m in 2022

• EUR 6,175m in 2023

87


Conclusion: our sustainable competitive advantage

High-growth, non-cyclical markets driven by secular mega-

trends

Advancing globalisation but with very few global testing

suppliers

Fragmented competition & opportunities for consolidation

Very recurring business; 5% - 12% typical historic organic

growth for the last 20 years

High barriers to entry

Best in class technology and quality give best brand

protection

N° 1 or 2 worldwide in most business lines

Operating in more than 50 countries

State-of-the-art laboratory infrastructure

High switching costs for clients

Good cash flow visibility

Experienced multi-national leadership

• Track record of profitable growth – Strong ROCE and cash flow generation potential

• ROCE* of 15.9% and ROE** of 26.7% in 2020 despite significant future-orientated investments and one-off restructuring costs. ROCE*

excluding goodwill of 51.3%

• 5-year CAGR (FY 2015 - FY 2020): Revenues 23%, Net Operating Cash Flow 33%

• Large potential to roll out business model in fast growing economies

• Following past intense investment cycles Eurofins’ network of laboratories is well positioned for the Group to achieve its objectives

whilst gaining and maintaining leadership in multiple markets and improving profitability

*ROCE = Adjusted EBITAS/Average Capital Employed over previous 4 quarters **ROE = Net Profit/Equity (excl. Hybrid) at the beginning of the year

88


Contents




▪ ESG

▪ Outlook


▪ Appendix

89


Summarised Income StatementFor the six months ended 30 June

2021 2020

In millions of EUR Adjusted resultsSeparately

disclosed itemsReported results Adjusted results

Separately

disclosed

items

Reported

results

Revenues 3,272.3 3,272.3 2,323.4 - 2,323.4

Operating costs, net -2,264.2 -19.0 -2,283.2 -1,830.0 -34.9 -1,864.8

EBITDA 1,008.1 -19.0 989.1 493.5 -34.9 458.6

Depreciation and amortisation -194.8 -9.6 -204.4 -182.7 -17.0 -199.7

EBITAS 813.3 -28.5 784.7 310.7 -51.9 258.9

Share-based payment charge and acquisition-related expenses, net - -60.1 -60.1 - -59.4 -59.4

EBIT 813.3 -88.7 724.6 310.7 -111.2 199.5

Finance income 0.6 - 0.6 1.0 0.6 1.7

Finance costs -51.9 -96.2 -148.0 -48.5 -2.5 -51.0

Share of profit of associates 1.7 - 1.7 0.5 - 0.5

Profit before income taxes 763.7 -184.8 578.8 263.7 -113.1 150.6

Income tax expense -180.8 17.9 -162.9 -76.6 20.5 -56.0

Net profit for the period 582.9 -166.9 415.9 187.2 -92.6 94.6

Attributable to:

Owners of the Company and hybrid capital investors 582.4 -166.9 415.5 187.1 -92.3 94.7

Non-controlling interests 0.4 - 0.4 0.1 -0.2 -0.1

Basic earnings per share (EUR)1

Total 3.05 -0.87 2.17 1.03 -0.51 0.52

Attributable to owners of the Company 2.97 -0.88 2.09 0.94 -0.52 0.43

Attributable to hybrid capital investors 0.08 0.01 0.09 0.09 0.01 0.09

Diluted earnings per share (EUR)1

Total 2.90 -0.83 2.07 0.98 -0.48 0.50

Attributable to owners of the Company 2.83 -0.84 1.99 0.90 -0.49 0.41

Attributable to hybrid capital investors 0.07 0.01 0.08 0.08 0.01 0.09

1 Following a ten-for-one stock split in November 2020, the figures for 2020 have been restated as if the stock split had been effective on 1 January, 2020.

90


Consolidated Income Statement For the year ended 31 December 2020

2020 2019

In millions of EUR Adjusted results Separately

disclosed itemsReported results Adjusted results

Separately

disclosed itemsReported results

Revenues 5,438.8 - 5,438.8 4,562.8 - 4,562.8

Operating costs, net -4,026.1 -61.8 -4,087.9 -3,632.1 -97.8 -3,729.8

EBITDA 1,412.7 -61.8 1,350.8 930.7 -97.8 833.0

Depreciation and amortisation -389.1 -36.9 -426.0 -357.2 -38.7 -395.9

EBITAS 1,023.6 -98.7 924.9 573.5 -136.5 437.0

Share-based payment charge and acquisition-related

expenses, net- -124.5 -124.5 - -70.5 -70.5

EBIT 1,023.6 -223.3 800.3 573.5 -206.9 366.6

Finance income 2.0 0.7 2.7 1.9 3.3 5.2

Finance costs -107.1 -3.3 -110.4 -98.8 -2.0 -100.9

Share of profit of associates 1.7 - 1.7 0.6 0.6

Profit before income taxes 920.2 -225.8 694.4 477.2 -205.6 271.5

Income tax expense -213.0 59.1 -153.9 -116.9 40.6 -76.3

Net profit for the year 707.2 -166.7 540.5 360.3 -165.0 195.3

Attributable to:

Owners of the Company and hybrid capital investors 706.5 -167.0 539.4 359.4 -164.1 195.2

Non-controlling interests 0.7 0.3 1.0 0.9 -0.9 -

Basic earnings per share (EUR)

- Total 3.79 -0.90 2.90 2.02 -0.92 1.10

- Attributable to owners of the Company 3.63 -0.91 2.71 1.75 -0.93 0.82

- Attributable to hybrid capital investors 0.17 0.02 0.18 0.27 0.01 0.28

Diluted Earnings per share (EUR)

- Total 3.61 -0.85 2.75 1.93 -0.88 1.05

- Attributable to owners of the Company 3.45 -0.87 2.58 1.67 -0.89 0.78

- Attributable to hybrid capital investors 0.16 0.02 0.17 0.26 0.01 0.27

Basic weighted average shares outstanding - in millions 186.2 186.2 178.0 178.0

Diluted average shares outstanding - in millions 195.9 195.9 186.5 186.5

91


Summarised Balance Sheet

In millions of EUR30 June

2021

31

December

2020

Property, plant and equipment 1,667.3 1,574.9

Goodwill 3,643.3 3,524.1

Other intangible assets 814.9 825.1

Investments in associates 6.9 5.6

Financial assets and other receivables 54.6 51.0

Deferred tax assets 61.1 76.6

Total non-current assets 6,248.1 6,057.3

Inventories 169.1 157.0

Trade receivables 978.3 948.5

Contract assets 337.7 245.0

Prepaid expenses and other current assets 198.4 189.0

Current income tax assets 89.3 66.2

Derivative financial instruments assets 0.2 0.1

Cash and cash equivalents 639.9 912.4

Total current assets 2,412.9 2,518.2

Total assets 8,661.0 8,575.5

In millions of EUR30 June

2021

31

December

2020Share capital 1.9 1.9

Treasury shares - -

Hybrid capital 1,000.0 1,000.0

Other reserves 1,555.2 1,542.6

Retained earnings 1,577.0 1,310.5

Currency translation reserve -54.9 -164.7

Total attributable to owners of the Company 4,079.2 3,690.3

Non-controlling interests 31.0 26.1

Total shareholders' equity 4,110.2 3,716.4

Borrowings 2,526.8 2,917.2

Deferred tax liabilities 116.2 115.3

Amounts due for business acquisitions 63.7 48.5

Employee benefit obligations 73.9 73.3

Provisions 12.0 8.4

Total non-current liabilities 2,792.7 3,162.7

Borrowings 128.2 237.6

Interest due on borrowings and earnings due on hybrid capital 44.4 51.3

Trade accounts payable 530.8 542.0

Contract liabilities 162.9 136.7

Current income tax liabilities 123.0 84.3


Provisions 26.3 36.3

Other current liabilities 679.1 552.3

Total current liabilities 1,758.1 1,696.4

Total liabilities and shareholders' equity 8,661.0 8,575.5

92


Consolidated Balance Sheet

In millions of EUR

31

December

2020

31

December

2019

Property, plant and equipment 1,574.9 1,593.5

Goodwill 3,524.1 3,608.8

Other intangible assets 825.1 918.2

Investments in associates 5.6 5.3

Financial assets and other receivables 51.0 49.2

Deferred tax assets 76.6 44.0

Total non-current assets 6,057.3 6,218.9

Inventories 157.0 79.3

Trade receivables 948.5 810.7

Contract assets 245.0 190.5

Prepaid expenses and other current assets 189.0 153.0

Current income tax assets 66.2 73.4

Derivative financial instruments assets 0.1 0.3

Cash and cash equivalents 912.4 297.0

Total current assets 2,518.2 1,604.1

Total assets 8,575.5 7,823.1

In millions of EUR

31

December

2020

31

December

2019

Share capital 1.9 1.8

Treasury Shares - -0.2

Hybrid capital 1,000.0 1,000.0

Other reserves 1,542.6 978.2

Retained earnings 1,310.5 718.9

Currency translation reserve -164.7 139.8

Total attributable to owners of the Company 3,690.3 2,838.6

Non-controlling interests 26.1 59.5

Total shareholders' equity 3,716.4 2,898.1

Borrowings 2,917.2 3,086.9

Deferred tax liabilities 115.3 124.5


Employee benefit obligations 73.3 75.3

Provisions 8.4 5.1

Total non-current liabilities 3,162.7 3,343.4

Borrowings 237.6 454.8

Interest due on borrowings and earnings due on hybrid

capital51.3 50.0

Trade accounts payable 542.0 409.8

Contract liabilities 136.7 116.4

Current income tax liabilities 84.3 20.7


Provisions 36.3 22.0

Other current liabilities 552.3 445.6

Total current liabilities 1,696.4 1,581.6

Total liabilities and shareholders' equity 8,575.5 7,823.1

93


Summarised Cash Flow StatementFor the six months ended 30 June

In millions of EUR 2021 2020

Cash flows from operating activities

Profit before income taxes 578.8 150.6

Depreciation and amortisation 204.4 199.7

Share-based payment charge and acquisition-related expenses, net 60.1 59.4

Financial income/(expense), net 144.3 46.4

Share of profit from associates -1.7 -0.5

Transactions costs and income related to acquisitions -3.8 -3.4

Changes in provisions and employee benefit obligations -6.5 -2.7

Other non-cash effects 0.4 -0.2

Change in net working capital -127.6 13.4

Cash generated from operations 848.5 462.7

Income taxes paid -139.9 -17.7

Net cash provided by operating activities 708.6 445.0

Cash flows from investing activities

Purchase of property, plant and equipment -200.1 -113.0

Purchase, capitalisation of intangible assets -22.9 -19.5

Proceeds from sale of property, plant and equipment 3.1 2.9

Net capex -219.8 -129.7

Free Cash Flow to the Firm 488.7 315.3

Acquisitions of subsidiaries net of cash acquired and proceeds from disposals

of subsidiaries -58.4 -76.4

Disposals/(acquisition) of investments, financial assets and derivative financial

instruments, net1.3 -0.5

Interest received 0.5 1.2

Net cash used in investing activities -276.5 -205.3


Cash flows from financing activities

Proceeds from issuance of share capital 12.6 544.6

Proceeds from borrowings 742.7 595.3

Repayments of borrowings -1,249.4 -924.3

Repayments of lease liabilities -73.8 -75.1

Dividends paid to shareholders and non-controlling interests -0.4 -

Earnings paid to hybrid capital investors -14.6 -14.6

Interest paid -135.8 -41.2

Net cash (used)/provided by financing activities -718.7 84.6

Net effect of currency translation on cash and cash equivalents and bank

overdrafts14.7 -5.3

Net (decrease)/increase in cash and cash equivalents and bank

overdrafts-271.9 319.0

Cash and cash equivalents and bank overdrafts at beginning of period 910.5 294.5

Cash and cash equivalents and bank overdrafts at end of period 638.6 613.6

94


Consolidated Cash Flow StatementFor the year ended 31 December 2020


Cash flows from operating activities

Profit before income taxes 694.4 271.5

Depreciation and amortisation 426.0 395.9

Share-based payment charge and acquisition-related expenses, net 124.5 70.5

Financial income and expense, net 101.8 96.1

Share of profit from associates -1.7 -0.6

Transactions costs and income related to acquisitions -6.2 -8.3

Changes in provisions and employee benefit obligations 18.7 7.3

Other non-cash effects 8.5 4.6

Change in net working capital -48.4 -64.2

Cash generated from operations 1,317.5 772.9

Income taxes paid -94.0 -95.0

Net cash provided by operating activities 1,223.5 677.9


Cash flows from financing activities

Proceeds from issuance of share capital 564.8 23.4

Proceeds from issuance of hybrid capital - 297.6

Proceeds from borrowings 946.2 192.2

Repayments of borrowings -1,304.5 -330.9

Repayment of lease liabilities -150.6 -142.4

Repayment of hybrid capital - -300.0

Dividends paid to shareholders and non-controlling interests -0.5 -51.4

Earnings paid to hybrid capital investors -36.3 -68.4

Interest paid -67.8 -62.7

Net cash provided by financing activities -48.6 -442.6

Net effect of currency translation on cash and cash equivalents and

bank overdrafts-33.9 4.1

Net increase (decrease) in cash equivalents and bank overdrafts 616.0 -200.5

Cash and cash equivalents and bank overdrafts at beginning of period 294.5 495.0

Cash and cash equivalents and bank overdrafts at end of period 910.5 294.5 Cash flows from investing activities

Purchase of property, plant and equipment -310.8 -278.2

Purchase, capitalisation of intangible assets -44.7 -44.3

Proceeds from sale of property, plant and equipment 5.2 3.2

Net capex -350.3 -319.3

Free Cash Flow to the Firm1 873.2 358.6

Acquisition of subsidiaries net of cash acquired and proceeds

from disposals of subsidiaries-177.2 -171.0

Acquisition and disposal in investments, financial assets and

derivative financial instrument, net -0.1 47.6

Interest received 2.6 2.9

Net cash used in investing activities -525.0 -439.8

1Free Cash Flow to the Firm – Net cash provided by operating activities, less net capex.

95


Contents




▪ ESG

▪ Outlook


▪ Appendix

96


0%

5000%

10000%

15000%

20000%

25000%

30000%

35000%

40000%

45000%

50000%

55000%

Eurofins has vastly outperformed the market since its IPO(based on share price of €96.40 as of 30 June 2021)

1997

IPO

€5m

1998

rights

issue

€6m

1999

rights

issue

€7m

2000

rights

issue

€38.5m

Eurofins: +52,595% (30% 24-year CAGR)CAC 40: +135% (4% 24-year CAGR)

SBF 120: +170% (4% 24-year CAGR)

S&P 500: +390% (7% 24-year CAGR)

Nasdaq: +846% (10% 24-year CAGR)

Total equity raised in 8 offerings: only €1,387m

€57m 1997-2000, €496m in 2016, €299m in 2017

and €535m in 2020Sept 2016

ABB**

€296mJune 2016

Private placement

CDPQ €200mBest share price performance of all companies

listed in Europe between IPO on October 1997

and October 10th 2017*

*Source Marten & Co. study 24th October 2017 **ABB: Accelerated Book Building

Oct 2017

ABB**

€299m

May 2020

ABB**

€535m

97


We have built a hard-to-replicate world-class infrastructure

Eurofins has been consistently investing more than its peers (average if more than 1 year)

Source: Eurofins, Company websites. TICS ex ERF = SGS, Intertek, Bureau Veritas

0%

20%

40%

60%

80%

100%

120%

140%

160%

180%

0%

2%

4%

6%

8%

10%

12%

00-'04 05-'09 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Net

Cap

ex t

o S

ale

s

ERF TICS ex ERF Excess investment

98


0

200

400

600

800

1,000

1,200

2015 2016 2017 2018 2019 2020

Start-ups (operating losses) and reorganization costs (EBITDA level)

Extra capex above requirements for normal growth level (above 6% of revenues excl. IFRS 16)

Reported FCF to the Firm

Eurofins has been allocating a significant part of its free cash flow to equity towards building its leading global platform

Cashflow expansion levers: cash investments impacting cashflows

*€92m estimated cyber-attack cost & cash flow impact, €29m for purchase of 2 buildings at year-end

**Reported Free Cash Flow to the Firm – Net cash provided by operating activities, less Net capex

FCF invested for the future (SDIs)

Reported FCF to the Firm**Fig

ure

s in €

m

€121m*

99


Start-ups expected to break-even on Year 3 and typically reach Group’s profitability objectives in the following years

Start-ups development:1) Large investments have short-term dilutive impact on

Group’s margins and FCF

2) Growth momentum allows start-ups to typically break-even

on Year 3 post-creation

3) From year 5 ROCE generally better than growth via

acquisitions

Illustration: Example of a typical Eurofins’ start-up

Start-up A

Dynamic

growth

Break-even

achieved

Pre-accreditation:

Establishing

infrastructure

Receiving

accreditationStart-up reaches

break-even

Developing towards

Group’s profitability levels

100


0%

200%

400%

600%

800%

1000%

1200%

1400%

12/11 12/12 12/13 12/14 12/15 12/16 12/17 12/18 12/19 12/20

ERF FP Equity SGSN SW Equity ITRK LN Equity BVI FP Equity

ALQ AU Equity DGX US Equity SHL AU Equity CRL US Equity

NEOG US Equity OPK US Equity LH US Equity IDXX US Equity

UKX Index DAX Index SPX Index CAC Index

Shareholder Returns: TICS & Clinical Diagnostics Companies

Share price evolution 2011-2020

Source: Bloomberg

EurofinsEurofins

Total Shareholder Returns 2011-2020 (Assumes all dividends re-invested)

Shareholder Returns (based on share prices as of close 31.12.2020 in %)

Based on share prices Total Shareholder Returns (Assumes all dividends re-invested)

Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20

100.0 217.5 348.8 376.4 571.4 719.0 901.1 578.7 877.3 1,218.4 100.0 219.5 354.4 384.6 586.6 741.4 933.0 602.2 919.5 1,276.9

100.0 130.3 132.0 131.5 122.9 133.2 163.4 142.1 170.5 171.7 100.0 135.3 140.4 144.3 139.7 156.6 198.5 178.1 220.4 229.7

100.0 152.3 154.7 114.7 136.5 171.1 255.0 235.9 287.6 277.5 100.0 154.3 158.8 119.8 145.3 185.1 280.2 263.3 327.3 322.0

100.0 150.4 150.9 130.1 130.7 130.8 162.7 126.4 165.3 154.6 100.0 153.1 156.9 138.3 142.2 146.1 185.7 148.9 199.7 186.8

100.0 110.2 91.2 55.6 41.3 66.2 76.6 74.3 100.6 105.3 100.0 115.6 100.7 64.3 49.5 80.9 99.6 99.5 139.4 149.4

100.0 100.4 92.2 115.5 122.5 158.3 169.6 143.4 183.9 205.3 100.0 101.5 95.2 121.9 132.0 174.1 190.1 163.8 214.8 245.0

100.0 118.2 147.0 164.0 158.4 189.7 202.7 196.0 254.9 285.0 100.0 123.9 160.7 186.4 186.5 231.6 267.1 267.7 360.6 415.7

100.0 137.1 194.1 232.9 294.1 278.8 400.5 414.1 558.9 914.2 100.0 137.1 194.1 232.9 294.1 278.8 400.5 414.1 558.9 914.2

100.0 147.9 223.7 242.8 276.7 323.1 402.5 372.1 426.0 517.6 100.0 147.9 223.7 242.8 276.7 323.1 402.5 372.1 426.0 517.6

100.0 98.2 172.2 203.9 205.1 189.8 100.0 61.4 30.0 80.6 100.0 98.2 172.2 203.9 205.1 189.8 100.0 61.4 30.0 80.6

100.0 100.8 106.3 125.5 143.8 149.3 185.5 147.0 196.8 236.8 100.0 100.8 106.3 125.5 143.8 149.3 185.5 147.0 196.8 236.8

100.0 120.6 138.2 192.7 189.5 304.8 406.4 483.4 678.6 1,299.0 100.0 120.6 138.2 192.7 189.5 304.8 406.4 483.4 678.6 1,299.0

100.0 105.8 121.1 117.8 112.0 128.2 138.0 120.7 135.4 115.9 100.0 110.0 130.5 131.5 129.7 154.5 173.0 157.8 185.0 163.8

100.0 129.1 161.9 166.2 182.1 194.6 219.0 179.0 224.6 232.6 100.0 129.1 161.9 166.2 182.1 194.6 219.0 179.0 224.6 232.6

100.0 113.4 147.0 163.7 162.5 178.0 212.6 199.3 256.9 298.7 100.0 116.0 153.5 174.5 176.9 198.1 241.3 230.7 303.4 359.1

100.0 115.2 136.0 135.2 146.8 153.9 169.0 149.7 189.2 175.7 100.0 120.4 147.1 150.8 168.9 183.7 206.8 190.0 247.8 235.5

0.0%

200.0%

400.0%

600.0%

800.0%

1000.0%

1200.0%

1400.0%

12/11 12/12 12/13 12/14 12/15 12/16 12/17 12/18 12/19 12/20

ERF FP Equity SGSN SW Equity ITRK LN Equity BVI FP Equity

ALQ AU Equity DGX US Equity SHL AU Equity CRL US Equity

NEOG US Equity OPK US Equity LH US Equity IDXX US Equity

UKX Index DAX Index SPX Index CAC Index

101


Shareholder Returns: TICS & Clinical Diagnostics Companies

Historical Share Price Development (Y vs Y-1) Compounded Annual Growth Rates

2 Y 3Y 4 Y 5Y

Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-205Y

Growth2018-2020

2017-2020

2016-2020

2015-2020

Eurofins 60.4% 7.9% 51.8% 25.8% 25.3% -35.8% 51.6% 38.9% 113.2% 45% 11% 14% 16%

SGS 1.3% -0.3% -6.6% 8.4% 22.6% -13.0% 20.0% 0.7% 39.7% 10% 2% 7% 7%

Intertek 1.6% -25.9% 19.0% 25.4% 49.1% -7.5% 21.9% -3.5% 103.4% 8% 3% 13% 15%

BV 0.4% -13.8% 0.4% 0.1% 24.4% -22.3% 30.7% -6.4% 18.3% 11% -2% 4% 3%

ALS -17.2% -39.0% -25.7% 60.2% 15.7% -3.0% 35.4% 4.7% 154.9% 19% 11% 12% 21%

Quest Diagnostics -8.1% 25.3% 6.1% 29.2% 7.2% -15.5% 28.2% 11.6% 67.5% 20% 7% 7% 11%

Sonic Healthcare 24.4% 11.6% -3.4% 19.8% 6.8% -3.3% 30.0% 11.8% 79.9% 21% 12% 11% 12%

Charles River 41.6% 20.0% 26.3% -5.2% 43.7% 3.4% 35.0% 63.6% 210.8% 49% 32% 35% 25%

Neogen 51.3% 8.5% 14.0% 16.8% 24.6% -7.6% 14.5% 21.5% 87.1% 18% 9% 13% 13%

Opko 75.5% 18.4% 0.6% -7.5% -47.3% -38.6% -51.2% 168.7% -60.7% 15% -7% -19% -17%

Labcorp 5.5% 18.1% 14.6% 3.8% 24.2% -20.8% 33.9% 20.3% 64.6% 27% 8% 12% 10%

Idexx 14.6% 39.4% -1.6% 60.8% 33.4% 19.0% 40.4% 91.4% 585.5% 64% 47% 44% 47%

FTSE100 14.4% -2.7% -4.9% 14.4% 7.6% -12.5% 12.1% -14.3% 3.5% -2% -6% -2% 1%

DAX 25.5% 2.7% 9.6% 6.9% 12.5% -18.3% 25.5% 3.5% 27.7% 14% 2% 5% 5%

S&P500 29.6% 11.4% -0.7% 9.5% 19.4% -6.2% 28.9% 16.3% 83.8% 22% 12% 14% 13%

CAC40 18.0% -0.5% 8.5% 4.9% 9.8% -11.4% 26.4% -7.1% 19.7% 8% 1% 3% 4%

Long term (since IPO) Eurofins performance track record (Compounded Annual Growth Rates)

23Y CAGR IPO 27/10/1997 -31/12/2020

Eurofins Outperformance Factor

Eurofins 29.4%

FTSE100 1.3% 23.3x

DAX 5.6% 5.2x

S&P500 6.5% 4.5x

CAC40 3.1% 9.6x

Source: Bloomberg Based on share prices at close of 31 December of each year

Source: Bloomberg

102


Definitions / Alternative Performance Measures (APMs)

Eurofins is providing in the consolidated financial statements certain alternative performance measures (non-IFRS information).

APMs used in the Consolidated Income Statement

Adjusted results – reflect the ongoing performance of the mature and recurring activities excluding “separately disclosed items”.

Separately disclosed items - include one-off costs from integration, reorganisation, discontinued operations and other non-recurring income and costs, temporary losses and other costs related to network expansion, start-ups and

new acquisitions undergoing significant restructuring, share-based payment charges, impairment of goodwill, amortisation of acquired intangible assets, negative goodwill, gains/losses on disposal of businesses and transaction costs

related to acquisitions as well as income from reversal of such costs and from unused amounts due for business acquisitions, net finance costs related to borrowing and investing excess cash and one-off financial effects (net of

finance income) and the related tax effects

EBITDA – Earnings before interest, taxes, depreciation and amortisation, share-based payment charge, impairment of goodwill, amortisation of acquired intangible assets, negative goodwill, loss/gain on disposal and transaction

costs related to acquisitions as well as income from reversal of such costs and from unused amounts due for business acquisitions.

EBITAS – EBITDA less depreciation and amortisation.

Share-based payment charge and acquisition-related expenses, net – Share-based payment charge, impairment of goodwill, amortisation of acquired intangible assets, negative goodwill, loss/gain on disposal and transaction costs

related to acquisitions as well as income from reversal of such costs and from unused amounts due for business acquisitions.

EBIT – EBITAS less Share-based payment charge and acquisition-related expenses.

APMs used in the Interim Condensed Consolidated Cash flow Statement

Net capex – Acquisition of intangible assets, property, plant and equipment, less proceeds from the disposal of such assets

Free Cash Flow to the Firm – Net cash provided by operating activities, less Net capex.

APMs used in the Notes

Net debt – Borrowings, less cash and cash equivalents.

Net working capital – Inventories, trade receivables and contract assets, prepaid expenses and other current assets less trade accounts payable, contract liabilities and other current liabilities excluding accrued interest receivable

and payable.

Documents

Eurofins Corporate Presentation