West Pharmaceutical Services : William Blair 44th Annual Growth Stock Conference Presentation

West Pharmaceutical Services, Inc.

Eric M. Green

President, CEO and Chair of the Board

2024 - William Blair 44th Annual Growth Stock Conference

Safe Harbor Statement

Cautionary Statement Under the Private Securities Litigation Reform Act of 1995

This presentation and any accompanying management commentary contain "forward- looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about product development and operational performance. Each of these statements is based on preliminary information, and actual results could differ from any preliminary estimates.

We caution investors that the risk factors listed under "Cautionary Statement" in our press releases, as well as those set forth under the caption "Risk Factors" in our most recent Annual Report on Form 10-K as filed with the Securities and Exchange Commission and as revised or supplemented by our quarterly reports on Form 10-Q, could cause our actual results to differ materially from those estimated or predicted in the forward-looking statements. You should evaluate any statement in light of these important factors. Except as required by law or regulation, we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise.

Non-U.S. GAAP Financial Measures

Certain financial measures included in these presentation materials, or which may be referred to in management's discussion of the Company's results and outlook, have not been calculated in accordance with U.S. generally accepted accounting principles ("U.S. GAAP"), and therefore are referred to as non-U.S. GAAP financial measures. Non-U.S. GAAP financial measures should not be considered in isolation or as an alternative to such measures determined in accordance with U.S. GAAP. Please refer to "Reconciliation of Non-U.S. GAAP Financial Measures" at the end of these materials for more information.

Trademarks

Registered trademarks used in this report are the property of West Pharmaceutical Services, Inc. or its subsidiaries, in the United States and other jurisdictions, unless noted otherwise. Daikyo Crystal Zenith® and Daikyo® are registered trademarks of Daikyo Seiko, Ltd.

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OUR PURPOSE

We serve to improve patient lives.

OUR MISSION	OUR VISION	- ENTERPRISE STRATEGIC PLAN -	MAKING AN IMPACT
We contain and deliver	To be the world leader	EXECUTE | INNOVATE | GROW	TO OUR
	STAKEHOLDERS
injectable therapies that	in the integrated
improve patient lives.	containment and delivery
	of injectable medicines.

OUR CORE VALUES

Passion for Customers

Leadership in Quality

One West Team

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By Your Side for a Healthier World

100

year history of

Growth & Innovation

More than

$4.3 Million

in corporate, foundation and

employee giving

Team Members volunteered

4700

hours of community service

in 2023

31

consecutive years of annual increase in the company's dividend

10,000+

team members committed

to our purpose

200+

charitable organizations

partnered with across the globe

25

manufacturing sites

Expansions at our

manufacturing sites

will result in

450,000

additional square feet of space

Advanced our ESG

goals

with purpose driven mindset

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A Growing Business

Well-Positioned for Success

Net Sales* by	Net Sales* by
GEOGRAPHY	PRODUCT CATEGORY

9%

19%

45%10%

50%

46%

21%

Americas	PROPRIETARY PRODUCTS	High-Value Product Components
Europe, Middle East, Africa	Standard Packaging
Asia Pacific		High-Value Product Delivery Devices
		Contract-Manufactured
		Products

* FY2023

Net Sales* by

MARKET GROUP

19%

37%

24%

20%

PROPRIETARY PRODUCTS	Biologics
Generics
	Pharma

Contract-Manufactured Products

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Q1 2024 Financial Results and 2024 Full-Year Financial

Guidance (as provided on April 25, 2024)

• First quarter 2024 net sales of $695.4 million declined 3.0%; organic net sales also declined by 3.0%
• First quarter 2024 reported-diluted EPS of $1.55 declined 16.2%; adjusted-diluted EPS of $1.56 declined by 21.2%
• 2024 Full-Year Consolidate Net Sales Guidance: $3.000 billion to $3.025 billion
• 2024 Full-Year Adjusted Diluted EPS Guidance: $7.63 to $7.88

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Our Market-Led Journey is Generating Success and Positions Us Well for the Future

COMMERCIAL & PRODUCT MANAGEMENT

Customer-facing market units in Proprietary Products segment and Contract Manufacturing that focus on providing products to healthcare companies from concept to patient

R&D AND TECHNICAL EXPERTISE

Expanding High-Value Product offerings aligned to ever- changing market needs with new technology, services, solutions and capabilities

GLOBAL OPERATIONS

Globalized network that has increased capacity, quality and throughput while optimizing our 25 manufacturing sites to support our growing base demand

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Market-Led: Meeting the Changing

Needs in the Market

Taking a customer-centric approach to addressing customer segment needs

Biologics	Generics	Pharma	Contract Manufacturing
Packaging solutions for sensitive	Manufacturing efficiency and	Total cost of ownership	Quality manufacturing and
molecules and	differentiation	and life cycle management	design for manufacturing
self-injection technologies	beyond the molecule

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Delivering Customer Needs with

High-Value Proprietary Products & Services

SELF-INJECTION

CONTAINMENT

QUALITY BY DESIGN

CAMERA INSPECTED

COATED

Integrated

Systems of

Elastomer and

Glass

STERILIZED

WASHED

COMPLEXITY OF PROBLEM SOLVED

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West/Daikyo HVP components are the market standard for primary packaging of biologic drugs

West and our partner Daikyo have had a high participation rate on biologic/biosimilar/gene therapy

approvals over the past 5 years, which has continued 2024 YTD.

HIGH GROWTH	TOP 50 BIOLOGIC	HIGH PARTICIPATION
SECTOR	INJECTABLES	RATE ON NEW DRUGS
Biologics (large molecules) are	Rely on HVP components from	Vast majority of recently
among the top in injectable	West or Daikyo	approved NMEs incorporate
therapies		West or Daikyo

In 2016, Biologics represented 22% of WST's total net sales.

In 2023, Biologics represented 37% of WST's total net sales.

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