Stock code: 300759.SZ Stock code: 3759.HK 2024 Annual Results M a r c h 2 0 2 5Disclaimer The documents opinions and materials presented in this presentation (the “Document”) have been prepared by Pharmaron Beijing Co. Ltd. (康龍化成(北京)新藥技術股份有限公司) (the “Company”) for use in presentations by the Company and does not constitute a recommendation regarding the securities of the Company. You fully understand that the Document is being made available on a confidential basis and subject to the following provisions. The contents of this Document have not been reviewed by any regulatory authority in any jurisdiction. The distribution of this Document in certain jurisdictions may be restricted by law and the recipients into whose possession this Document comes should inform themselves about and observe such restrictions. 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These forward-looking statements reflects the current view of the Company with respect to future events are based on a number of assumptions about the Company’s operations and factors beyond the Company’s control and are subject to significant risks and uncertainties and accordingly actual results may differ materially from these forward-looking statements. In particular but without limitation no representation or warranty is given as to the achievement or reasonableness of and no reliance should be placed on any assumptions projections targets estimates forecasts or any forward-looking statements contained in this Document. Each of the Company and its affiliates controlling persons directors officers partners employees agents representatives or advisers of any of the foregoing assumes no obligation to update or otherwise revise these forward-looking statements for new information events or circumstances that occur subsequent to such dates. None of the Company and any of its affiliates controlling persons directors officers partners employees agents representatives or advisers of any of the foregoing shall have any liability (in negligence or otherwise) in respect of the use of or reliance upon the information contained herein by you or any person to whom the information herein is disclosed.In furnishing this Document the Company and its affiliates undertake no obligation to provide any additional information or to update this Document or any additional information or to correct any inaccuracies which may become apparent. 2C o n t e n t s Performance Segment Financial Future Overview Highlights Highlights Outlook 31234 CONTENT Performance Segment Financial Future Overview Highlights Highlights Outlook 42024 Highlights Solid Revenue Growth Global Platform & Customers Rich Pipeline to Fuel Future Growth RMB12276 mm in revenue YoY growth of 900+ new customers 3000+ active Discovery projects: 781 drug discovery 6.4%. With 2H24 revenue at RMB6671 projects customers including all of the TOP 20 mm YoY growth of 13.1% global pharmas CMC projects: 19 in validation & RMB1793 mm in net profit YoY growth of commercial 23 in PhIII 242 in PhI/II 782 12.0% 21 R&D & manufacturing facilities across in preclinical RMB1607 mm in non-IFRSs adjusted net China UK & US providing fully- Clinical projects: 1062 CRO projects profit YoY decline of 15.6% integrated services for SM LM & CGT including 94 in PhIII. 1600+ SMO projects New POs increased by 20%+ YoY CRC team covers 670+ hospitals & 21370 employees including 1700+ clinical trial centers in 150+ cities Financial performances improved QoQ overseas employees. 19192 scientists & and YoY revenue growth rate accelerated CGT projects: 24 release testing projects each quarter as a result of the initial technicians representing ~90% of total including 2 commercial projects. 14 gene recovery of the global biotech funding employees therapy CDMO projects including 1 in environment. The Company continued to PhIII 6 in PhI/II 7 in preclinical gain market share globally Data are rounded to the nearest million 52024 Performances Improved QoQ & YoY Revenue Growth Rate Accelerated Each Quarter Continuous Improvement of Net Margin in 3Q&4Q RMB mm 1Q2024 2Q2024 3Q2024 4Q2024 Revenue Non-IFRSs Net Profit Non-IFRSs Net Margin Revenue 2671 2934 3213 3458 RMB mm 3458 3500.0015% 3213 2934 14.4% QoQ 9.8% 9.5% 7.6% 3000.00 267114% 2500.00 YoY -2.0% 0.6% 10.0% 16.1% 13.0%13% 2000.00 12.7% 1500.00 12.0% 12% Non-IFRSs Net Profit 339 351 417 499 1000.00 49911% 500 .00 339 351 417 QoQ 3.7% 18.7% 19.7% -10% 1Q2024 2Q2024 3Q2024 4Q2024 YoY -22.7% -28.8% -13.2% 1.7% Data are rounded to the nearest million 62024 Revenue Compositions Segments Revenue Composition Global Customers Revenue Composition Biologics & CGT ROW 2% Services 3% NA Revenue Grew 6.1% Clinical Development China Services 15% EU Revenue Grew 23.2% 15% Laboratory CN Revenue Declined 6.5% North Services 57% Europe America 19%64% Small Molecule CDMO Services 24% China/Overseas Entities Revenue Composition Diversified Customer Base Revenue Composition New Customers 5% China Entities Overseas TOP 20 Pharmas TOP 20 Subsidiaries Revenue Grew 7.8% Revenue Grew 26.9% Pharmas 13%18% Overseas Subsidiaries Other Customers Revenue Declined 2.7% Revenue Grew 2.8% China Entities Other Repeat 87% Customers 77% 7ESG Updates ESG Ratings SBTi Sustainable Development * Included in S&P Global Sustainability Yearbook 2025 2024 MSCI ESG Rating * Pharmaron’s SBT have been validated by SBTi in June 2024 * Included in S&P China AA * Total GHG emissions declining by Sustainability Yearbook 2025 20%+ in 2024 SUSTAINALYTICS 2025 2024 CDP 2024 EcoVadis * Regional TOP Rated ESG Company Climate Change Bronze Prize * Industry TOP Rated ESG Company Questionnaire: B 81234 CONTENT Performance Segment Financial Future Overview Highlights Highlights Outlook 9Laboratory Services RMB mm 1Q2024 2Q2024 3Q2024 4Q2024 2024 Revenue 1605 1767 1847 1828 7047 QoQ 10.1% 4.6% -1.0% YoY -2.9% 2.3% 9.4% 14.9% 5.8% GPM 43.6% 44.3% 44.9% 44.7% 44.4% QoQ 0.7pct 0.6pct -0.2% YoY -0.7pct -1.0pct 2.1pct 1.2pct 0.4pct ? Robust YoY revenue growth of bioscience services which accounted for 54%+ of the segment’s total revenue; Laboratory chemistry services achieved the highest quarterly revenue record of the year in 4Q2024 ? New POs increased by 15%+ YoY ? Participated in 781 drug discovery projects ? Leveraging comprehensive & multi-dimensional data to assist our customers: (1) Maintained focus on cutting-edge technologies and emerging therapeutic targets; (2) Expanded and upgraded HTS and automation platforms; (3) Strengthened capabilities in 3D cell culture organoids animal models and omics analysis; (4) Strengthened capabilities for new modalities; (5) Explored the application of AI and machine learning in laboratory services Data are rounded to the nearest million 10CMC (Small Molecule CDMO) Services RMB mm 1Q2024 2Q2024 3Q2024 4Q2024 2024 Revenue 582 594 801 1012 2989 QoQ 2.0% 34.9% 26.4% YoY -2.7% -9.1% 20.9% 26.9% 10.2% GPM 27.3% 28.3% 34.1% 38.4% 33.1% QoQ 1.0pct 5.8pct 4.3pct YoY -5.4pct -3.4pct 2.0pct 2.2pct -0.3pct ? ~81% of CMC services revenue came from the existing customers of laboratory services ? New POs increased by 35%+ YoY. More large-scale production projects ? Commercial manufacturing: DP commercial manufacturing of 2 newly approved innovative drugs in China; Ningbo API facility received FDA PAI and is awaiting the final EIR ? Invested in new technologies to improve productivity: end-to-end continuous flow synthesis continuous hydrogenation reactions continuous flow ozonolysis biocatalysis electrochemistry photochemistry HTE and high potency API manufacturing ? Increased costs due to certain modules in Shaoxing facility transferred from CIP into fixed assets in 4Q2023 and increased labor costs. Improved GMP in 2H2024 as a result of increased revenue Data are rounded to the nearest million 11Innovative Drug CMC Projects Continued to Advance to Late Stage Total +181 +123 782 Preclinical +72 242 Phase I/II -4 23 Phase III Innovative Drugs +4 19 PPQ&Commercial 12Clinical Development Services RMB mm 1Q2024 2Q2024 3Q2024 4Q2024 2024 Revenue 392 452 463 520 1826 QoQ 15.4% 2.4% 12.4% YoY 4.6% 4.8% 1.3% 9.5% 5.1% GPM 9.3% 15.4% 14.4% 11.9% 12.8% QoQ 6.1pct -1.0pct -2.5pct YoY -4.7pct -4.2pct -6.1pct -2.0pct -4.3pct ? As a result of synergies of the Company’s integrated platform and increasing customer recognitions of Pharmaron Clinical the Company has continued to increase its number of projects and gain market share ? 1062 clinical CRO projects including 94 PhIII clinical trials 407 PhI/II clinical trials and 561 other clinical trials. 1600+ SMO projects. CRC team covers 670+ hospitals & clinical trial centers in 150+ cities ? Tested evaluated and implemented multiple AI applications across various business units.Acquired controlling stake in Aistarfish to accelerate the digital and AI transformation of clinical development services ? GPM declined due to revenue mix of different projects and competitions in China market Data are rounded to the nearest million 13Biologics & CGT Services RMB mm 1Q2024 2Q2024 3Q2024 4Q2024 2024 Revenue 91 120 100 97 408 QoQ 31.0% -16.7% -3.2% YoY -4.1% 14.3% -9.6% -15.5% -4.1% GPM -38.6% -25.9% -67.2% -73.5% -50.1% QoQ 12.7pct -41.3pct -6.3pct YoY -26.8pct -20.6pct -61.8pct -62.4pct -41.8pct ? Biologics CDMO: successfully completed the 1st integrated project from DNA to DS/DP for an innovative bispecific antibody ? CGT testing: 24 CGT analytical release testing projects including 2 commercial projects and 9 clinical projects. 22 GLP & non-GLP toxicology studies for CGT products either had been completed or are in progress ? GT CDMO: 14 gene therapy CDMO projects including 1 in PhIII 6 in PhI/II & 7 in preclinical ? The emerging segment is still in the investment stage. Increased operating costs and depreciation of the biologics CDMO capacity in Ningbo Data are rounded to the nearest million 141 2 3 4 CONTENT Performance Segment Financial Future Overview Highlights Highlights Outlook 152024 Expenses for the Period Selling and Distribution Expenses as % of Total Revenue Administrative Expenses as % of Total Revenue (1) 13.4%12.7%12.8% 2.1%2.2%2.2%2.1%11.3% 20212022202320242021202220232024 R&D Costs as % of Total Revenue Net Finance Costs as % of Total Revenue (2) 3.9%3.8% 0.9% 2.9% 0.1%0.1% 2.0% 2021202220232024 (1.2)% 2021202220232024 1. Excluding share-based compensation expenses recognized in administrative expenses 16 2. Net finance costs including interest expenses on bank borrowings and lease liabilities interest income and bank wealth management products related gains or lossesFree Cash Flow of RMB536 Million in 2024 RMB mm 29502865 2754 2577 2058209321432041 2021202220232024 Net Operating Cash Flow CAPEX Data are rounded to the nearest million 172024 Non-IFRSs Adjusted Net Profit RMB mm 2024 2023 Net Profit 1793 1601 Add: Share-based Compensation Expenses 83 185 Convertible Bonds Related (Gains) / Losses (6) 123 Foreign Exchange Related Losses / (Gains) 34 (6) Realized and Unrealized (Gains) / Losses From Equity (407)0 Investments Non-Financial Assets Impairment 65 - One-off Loss Made by Pharmaron Shanghai Co. Ltd. 44- due to the Business Close Non-IFRSs Net Profit 1607 1903 Data are rounded to the nearest million 181 2 3 4 CONTENT Performance Segment Financial Future Overview Highlights Highlights Outlook 192025 Outlook The industry fundamentals remain intact. Customer demand & POs showing recovery signs 2024 performances improved QoQ and YoY revenue growth rate accelerated each quarter Continue to develop our end-to-end fully integrated and multiple modalities-capable services platform with global footprints to further support our customers in improving the efficiency and flexibility of their pharmaceutical R&D and manufacturing needs Expect to deliver 10~15% revenue growth in 2025 Disclaimer: These forward-looking statements reflects the current view of the Company with respect to future events are based on a number of assumptions about the Company’s operations and factors beyond the Company’s control and are subject to significant risks and uncertainties and accordingly actual results may differ 20 materially from these forward-looking statementsTHANK YOU