Lupin : Vinita Gupta at the JP Morgan Healthcare Conference Jan 12 2022

J.P Morgan Healthcare

Conference

January 12th, 2022

Lupin Limited

Vinita Gupta, CEO

Safe Harbor Statement

Materials and information provided during this presentation may contain 'forward-looking statements'. These statements are based on current expectations, forecasts and assumptions that are subject to risks and uncertainties which could cause actual outcomes and results to differ materially from these statements.

Risks and uncertainties include general industry and market conditions, and general domestic and international economic conditions such as interest rate and currency exchange fluctuations. Risks and uncertainties particularly apply with respect to product-relatedforward-looking statements. Product risks and uncertainties include, but are not limited to, technological advances and patents obtained by competitors. Challenges inherent in new product development, including completion of clinical trials; claims and concerns about product safety and efficacy; obtaining regulatory approvals; domestic and foreign healthcare reforms; trends toward managed care and healthcare cost containment; and governmental laws and regulations affecting domestic and foreign operations.

Also, for products that are approved, there are manufacturing and marketing risks and uncertainties, which include, but are not limited to, inability to build production capacity to meet demand, unavailability of raw materials, and failure to gain market acceptance.

You are cautioned not to place undue reliance on these forward-looking statements, which reflect our opinions only as of the date of this presentation.

The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as
a result of new information, future events, or otherwise.	2

Lupin Today

Financial Metrics

Globally

Major Markets

10th

6th

3rd

6th

4th

5th

4th

Market Cap (5)

US$ 5.7 bn

Largest Generic

Largest Indian

Largest in

India Pharma

South Africa

Largest

Largest

Revenue (FY21)(6)

US$ 2.0 bn

company

Pharma

the US

2

Generic Rank

Branded Gx

Australia Gx

4

Market Rank

(by sales1)

(by global sales1)

(by prescriptions2)

(by prescriptions3)

Philippines4

EBITDA (FY21)(6)

US$ 364 mn

Netherlands

FY21 Revenues split

1

US

1

API

2

India

9%

Mexico

1

12

1

2

India	North
America
35%
37%

ROW	EMEA	Growth Markets
2%	8%
9%

Brazil 1

1

 20,500+ Global employees

 Products sold in 100 countries

 30 bn+ extended unit capacity

Manufacturing

Research

15	7		API, Generics, Biologics,
R&D		Specialty, NCE
Mfg sites		OSD, Injectables, Inhalation,
sites
			Ophthalmic, Derm, LARCs

1. LTM sales as of 31st Mar 2021

3. IQVIA MAT Aug-21

5. As of January 7, 2022

3

2. IQVIA MAT Sep-21

4. IQVIA MAT Jun-21

6. Exchange rate used US$ 1 = INR 74.24 (Average for FY21)

CY21 Highlights and Recent Performance

Increasing Sales Momentum: Achieved sustained quarterly revenue growth despite headwinds

Complex Gx Platform Successes: Inhalation and Biosimilars platforms continued scaling

• Albuterol reached 20%+ US generic market share. Authorized generic launch of Brovana in the US reached 50% share. Luforbec, gFostair launched in the UK.

H1 FY20221

(% of Global Net Sales)

India,	North America,
39%	34%

• bEtanercept sales continued to grow in Europe and Japan. US BLA filed on Pegfilgrastim.

Novel Pipeline Progress: Received USD 50 million development milestones from BI on MEK Inhibitor. Lupin Oncology Inc created to advance pipeline of differentiated Oncology programs.

R&D Spend

8.5%

Gx Pipeline Progress: 19 filings with the US FDA in CY21 incl. 4 eFTF, bringing our total FTFs to 51

NCE

EMEA, 7%

Rebuilding Quality Reputation: 17 positive outcomes on Major agency audits during CY20 & CY21 (USFDA, MHRA, PMDA, ANVISA, Cofepris)

income, 5% API, 6% Growth Markets, 8%

EBITDA Trend2

•	Received EIR from US FDA with Voluntary Action Indicated classification for Goa plant	8000		18.6%	18.8%		2
•	Track record of success on desktop audits from WHO and TGA	6000	14.7%	16.8%	14.3%	14.9%	1
EBITDA Focus: Focus on pipeline monetization and cost optimization to enhance EBITDA	4000					1
Navigating the COVID Era: Delivered our mission of ensuring the health and well-being of our	2000					5.
0					0.
people while maintaining our supply of life-saving medicines	Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22
1. H1 FY22 is Apr-21 to Sept-21. Total Revenue and EBITDA Growth rate at USD, as previously reported			EBITDA	EBITDA %	4
2. Reported numbers excluding impact of FX, Other income and one time costs	Source: IQVIA MAT, Weekly NPA

Strategic Vision: Evolving and Growing Global Pharma Company

Highly scaled and Evolving Core Generics Businesses

Innovative Platforms

Strong

Generics

Foundation

Amongst the Top 10 generic companies in the World

US Generics

Growth driven by a diversified portfolio

Execution on high- value opportunities

India Region Formulations

Achieving Top 3 by share and building in select adjacencies

Other Growth Markets

Grow Scale and Operating Leverage

Novel products: Specialty & NCE's

Canadian Specialty Platform

Focused Commercialization in GI (Zaxine) and Women's Health

EU Neurology

Evolving through Complex Generics

Investing heavily in the development of high barrier therapeutics

Global		Global		Global Long
Inhalation		Biosimilars		Acting and US
Platform		Business		Gx Injectables
Execution and scaling		Launch execution,		Clinical execution
in our markets and		Portfolio expansion		and Scale
beyond		and Development

Integrated Global Quality Culture

NaMuscla

Geographic expansion and partnership

US Women's Health

Targeted operations with accretive portfolio expansion

Novel Oncology Research Platform

Pipeline acceleration

5