Trusted Global Partner Delivering to over 160 countries worldwide 2019 Preliminary Results Presentation 27 March 2020
Important Notice This presentation has been prepared solely in connection with the financial results of Uniphar plc (the "Company") for the year ended 31 December 2019 and should be read in conjunction with the announcement of the preliminary results of the Company for the year ended 31 December 2019, released 27 March 2020 (the “ 201 9 Preliminary Results Announcement”). For the purposes of this notice, the presentation that follows shall mean and include the slides that follow, the oral presentation of the slides by the Company, the question-and-answer session that follows that oral presentation, hard and electronic copies of this document and any materials distributed at, or in connection with, that presentation. This presentation is not intended to and does not constitute or form part of any offer, or invitation, or solicitation of any offer to issue, underwrite, subscribe for, or otherwise acquire or dispose of any shares or other securities of the Company in any jurisdiction or an inducement to enter into investment activity. No part of this presentation, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. No representation or warranty, express or implied, is given by or on behalf of the Company, its group companies, or any of their respective shareholders, directors, officers, employees, advisers, agents or any other persons as to the accuracy, completeness, fairness or sufficiency of the information, projections, forecasts or opinions contained in this presentation. Save in the case of fraud, no liability is accepted for any errors, omissions or inaccuracies in any of the information or opinions in this presentation and neither the Company and its group companies nor any of their respective employees, officers, directors, advisers, representatives, agents or affiliates, shall have any liability whatsoever (in negligence or otherwise, whether direct or indirect, in contract, tort or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation. Certain information contained in this presentation has been obtained from published and non-published sources prepared by other parties, which in certain cases have not been updated to the date hereof. While such information is believed to be reliable for the purpose used in this presentation, the Company does not assume any responsibility for the accuracy or completeness of such information and which has not been independently verified by the Company. Except where otherwise indicated herein, the information provided in this presentation is based on matters as they exist as of the date of preparation and not as of any future date, and will not be updated or otherwise revised to reflect information that subsequently becomes available, or circumstances existing or changes occurring after the date hereof. This presentation contains certain projections and other forward-looking statements with respect to the financial condition, results of operations, businesses and prospects of the Company and its group companies. These statements are based on current expectations and involve risk and uncertainty because they relate to events and depend upon circumstances that may or may not occur in the future. There are a number of factors which could cause actual results or developments to differ materially from those expressed or implied by these projections and forward-looking statements. Any of the assumptions underlying these projections and forward-looking statements could prove inaccurate or incorrect and therefore any results contemplated in the projections and forward-looking statements may not actually be achieved. Recipients are cautioned not to place undue reliance on any projections and forward-looking statements contained herein. Except as required by law or by any appropriate regulatory authority, the Company and its group companies undertake no obligation to update or revise (publicly or otherwise) any projection or forward- looking statement, whether as a result of new information, future events or other circumstances. Your attention is drawn to the ‘Principal Risks and Uncertainties’ set out in the Company’s 2019 Preliminary Results Announce ment and in Part 2: Risk Factors of the Company's Admission Document published on 12 July 2019. The risks described, however, are not exhaustive and there may be other risks which may have an adverse effect on the business, financial condition, results or future prospects of the Company. The 2019 financial information set out in this document is unaudited. The comparative 2018 financial information set out in this document has been extracted from the audited financial statements of Uniphar plc for the financial year ended 31 December 2018. For further information see www.uniphar.com uniphar.ie 2 2
Agenda Presenters 1. Overview & Highlights Ger Rabbette Chief Executive Officer 2. Divisional Review Tim Dolphin » Commercial & Clinical » Product Access Chief Financial Officer » Supply Chain & Retail Padraic Dempsey 3. Financial Review Chief Commercial Officer 4. Strategic Initiatives 5. Investment Case & Outlook 6. Q&A uniphar.ie 3
Divisional Gross Profit Overview 10% Supply Chain & Retail Commercial & Clinical Product Access 2019 Uniphar at a Glance 48% €180.6m 42% A diversified international healthcare service provider GP Supporting 200 multinational pharmaceutical and medical manufacturers across three divisions – 200 Commercial & Clinical , Product Access and Supply Chain & Retail 2,200+ Workforce of more than 2,200 Active in Ireland, the UK, Benelux, the Nordics 5 and the US 160+ Delivering to 160+ countries Supply MedTech Exclusive Supply Chain Commercial Product Chain Organic gross profit growth in all three & Clinical Access 7% Pharma On-Demand & Retail Retail divisions (Group organic growth 7%) Building a pan-European platform Building global capability 50 Years in Supply Chain In 2019, the Group generated revenue of €1.67b, gross profit of €180.6m and EBITDA of Providing sales, marketing and Sourcing and supply of unlicensed #1 market position in wholesale in €48.0m before the impact of IFRS 16. Including €1.7b distribution solutions to medicines to pharmacy customers Ireland the impact of IFRS 16 “Leases”, EBITDA increases manufacturers to €58.6m. Managing the release of specialty Supported by a network of owned Focused on speciality pharma and medicines for pharma and franchised pharmacies medical technologies manufacturers 4
Highlights Strategic Initiatives Financial Highlights 1 Gross Profit: €180.6m, 7% organic growth IPO in July provides capital structure to execute growth plans EBITDA 2 : €48.0m (pre impact of IFRS 16) Durbin, M3 & EPS acquisitions complete and integration progressing in line with plan Strong financial €58.6m (after impact IFRS 16) Growth divisions accounted for 52% of 2019 Gross Profit performance in 2019 Adjusted EPS: 14.3 cent 3 with strategic Gross Profit generated from outside of Ireland has doubled ROCE: 14.7% 4 within a year initiatives progressed Net Cash €26.6m (Gross Cash €116.2m) Proposing €2m dividend in respect of 2019 Outlook Well positioned to deliver our 2020 plan Excluding any potential temporary disruption caused by COVID-19 Commercial & Clinical delivering c15% EBITDA margin Product Access on track to deliver c10% EBITDA margin by end of 2020 1. The 2019 financial information set out in this document is unaudited 2. EBITDA: Earnings before interest, tax, depreciation, amortisation and exceptional items uniphar.ie 5 3. Adj. EPS for future comparative: 10.1 cent - assuming all IPO shares and Sisk warrant shares were issued on 1 Jan 2019 4. Before the impact of IFRS 16, see slide 34 for calculation (After impact of IFRS 16: 15.2% ROCE)
Divisional Review uniphar.ie 6
Sales, marketing and Building a pan-European service offering from the Commercial distribution solutions for present footprint in Ireland, the UK, Benelux and & Clinical manufacturers the Nordics Financials Revenue Gross Profit HCP interactions €204.0m €76.8m >340k 2018 >580k 2019 Organic GP Growth Achieved in 2019: 5% Gross Profit Revenue Split 2018 Reported Pharma MedTech 23% 77% 2018 Pro Forma 2019 Geographic Gross Profit Reported UK & Europe 2019 >45% Pro Forma €m €15m €30m €45m €60m €75m €90m uniphar.ie 7
Providing access to Product Platform in place to become a global unlicensed and speciality leader in the provision of On Demand and Access medicines globally Exclusive Access services Financials Gross Profit Revenue Gross Profit €132.2m €17.2m 2018 Reported Organic Gross Profit Growth 2019 Uniphar (ex Durbin) Achieved in 2019: 16% 2019 Reported (Durbin 5 months) 2019 Pro Forma Revenue Split (Durbin 12 months) On Demand Exclusive Access 52% 48% €m €5m €10m €15m €20m €25m Exclusive Access Programmes Exclusive Access 2018 Patients Registered Programmes >30,000 >40 2019 0 10 20 30 40 50 uniphar.ie 8
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