Jubilant Life Sciences Limited

1 Investor PresentationNovember 2020 Jubilant life Sciences LimitedDisclaimerImportantDisclaimerThis presentation(the Presentation ,orthe document )hasbeenpreparedbyJubilantLifeSciencesLi mited(the Company ) ,inwholeorinpart, ,reproduced,distributed,orotherwisediscl osedorpassedontoothers,inwholeorinpart,b yanymeans, ,neithertheCompany,noritsassociatesandaf filiates,noranyoftheirrespectiveofficers ,directors,advisors,undertakeanyobligati ontoprovidetotherecipient(a)accesstoanya dditionalinformationortoupdatethisdocume nt,or(b) forward-looking ,includingstatementsrelatingtofuturestat us,events,prospectsorcircumstances,inclu dingbutnotlimitedtostatementsaboutplansa ndobjectives,outlook,theprogressandresul tsofresearchanddevelopment,potentialprod uctcharacteristicsanduses, ,includingfuturechangesordevelopmentsint heCompany sbusiness,itscompetitiveenvironment,itsa bilitytoimplementitsstrategiesandinitiat ives,respondtoindustrychangesandthepolit ical,economic, ,fromtimetotime,makeadditionalwrittenand oralforwardlookingstatements,includingst atementscontainedinthecompany , ,offeringcircularorofferingmemorandumora nofferinvitationorasolicitationofanyoffe rtopurchaseorsell,anysecuritiesoftheComp any,andshouldnotbeconsideredorconstruedi nanymannerwhatsoeverasarecommendationtha tanypersonshouldsubscribefororpurchasean yofCompany' ,expectations.

2 EstimatesorprospectsinthisPresentationsh ouldbeconstruedasaforecastimplyinganyind icativeassuranceorguaranteeoffutureperfo rmance,northattheassumptionsonwhichsuchf utureprojections,expectations,estimates, (includingbyopinion,anecdoteandspeculati on) ,noritsassociatesandaffiliates,noranyoft heirrespectiveofficers,directors,advisor s,makesanyrepresentationorwarranty(expre sslyorimpliedly)astotheaccuracy, , ,isnotarecommendationtoinvest,isnotaninv estmentadvice,and, ,theCompanyhavenottakenintoaccountthepar ticularinvestmentobjectives, ,aninvestorshouldindependentlyconsiderwh etheraninvestmentintheCompanyisappropria teinlightofitsparticularinvestmentneeds, , , ,andcomplywith, ,uponrequest, ,therecipientagreesthatthisPresentationi sstrictlyconfidentialandshallnotbecopied ,published,distributedortransmittedtoany person,inwholeorinpart,byanymeans,inanyf ormunderanycircumstanceswhatsoeverandtha ttherecipienthasfurtheragreed,uponreques t, ,andthatitwillnotreproduce,publish,discl ose, , , ,areasperIndianAccountingStandards(Ind-A S)

3 USD billion integrated global pharmaceuticals and life Sciences company Strong position in Specialty Pharmaceuticals Radiopharma and Allergy Therapy Products, CMO of sterile injectables 6 USFDA approved manufacturing facilitiesincluding 4 in North America and 2 in India; 5 state-of-the-art LSI mfg. facilities in India Expertise in chemistryand manufacturing spanning over four decades of experience; Offering 100+ Products; Global leadership position in Pyridine-Beta and 11 Pyridine derivatives; Globally Top 2 in Vitamin B3 and Acetic Anhydride (Merchant Sales) Employs over 8,000 people globally, including over 2,300 in North America and around 500 people dedicated to R&DSpecialty Pharmaceuticals33%CDMO17%Generics13%Spec ialty Intermediates12%Nutritional Products6% life Sciences Chemicals17%DDDS3% Jubilant life Sciences OverviewFY20 Revenue Mix by SegmentIndia22%USA & Canada56%Europe & Japan13%China and ROW9%FY20 Revenue Contribution by RegionFY20 EBITDA Mix by SegmentPharmaceuticalsSpecialty Pharmaceuticals Radiopharma Allergy Therapy ProductsDrug Discovery & Development Solutions ( Jubilant Biosys)Generics2 Solid Dosage Formulations India Branded Pharmaceuticals (IBP)CDMO CMO of Sterile Injectablesand Non Sterile Products Active Pharmaceutical IngredientsProprietary Novel Drugs ( Jubilant Therapeutics)

4 Discovery & Development Solutions business, earlier presented under segment Others has from Q2 FY20 onwards been reclassified under Pharmaceuticals segment within Generics subsegmentPharmaceuticals76% life Science Ingredients21%DDDS4%100% = Rs9,154 Cr100% = Rs9,154 Cr100% = Rs2,060 CrLife Science IngredientsSpecialty Intermediates Advanced Intermediates Specialty IngredientsNutritional Products Vitamins Animal Nutrition / Human NutritionLife Sciences Chemicals Acetyls Ethanol4 USFDA approved manufacturing facilities in North America and 2 USFDA approved manufacturing facilities in India. 5 state-of-the-art life Science Ingredients manufacturing facilities in IndiaPharmaceuticals Manufacturing FacilitiesLife Science Manufacturing FacilitiesSalisbury, Maryland, USA Solid Dosage Formulations (Tablets & Capsules)Spokane, Washington, USA Contract manufacturing of Sterile injectable and Allergy therapyRoorkee, Uttarakhand Generics manufacturingGajraula, Uttar Pradesh Largest integrated facility of Specialty Intermediates and life Science ChemicalsNira, Maharashtra life Sciences ChemicalsAmbarnath, Maharashtra Specialty IntermediatesBharuch, Gujarat SEZ for Vitamins ,Specialty Intermediates and LifeSciences ChemicalsSamlaya, Gujarat Animal Nutrition ProductsMontreal, canada Radiopharmaceuticals Contract Manufacturing of Sterile Injectablesand non-Sterile ProductsNanjangud, Karnataka API manufacturingNoida Corporate Office5 High-Quality, World-Class, Low Cost Manufacturing FootprintFacilityLast InspectionMontreal, CMOMay, 2018 Montreal, RadiopharmaSep, 2017 SalisburyFeb, 2020 SpokaneJuly, 2019 RoorkeeNov, 2019 NanjangudDec.

5 2018 ShyamS BhartiaChairman 39 industry years in pharma, specialty chemicals, foods, oil and gas, aerospace and ITHari S BhartiaCo-Chairman & Managing Director33 industry years in pharma, specialty chemicals, foods, oil and gas, aerospace and ITPramod Yadav, CEO - Jubilant Pharma29 years of Industry ExperienceRajesh Srivastava, CEO life Sciences Ingredients29 years of Industry ExperiencePharmaceuticalsLife Sciences IngredientsDrug Discovery ServicesAjay KhannaChief -Strategic & Public Affairs37 years StructureMarcel J Velterop, President -Drug Discovery Solutions28 years of Industry Institutional Institutions / MFs / and Indian of 30thSeptember2020 To acquire and maintain global leadership positionin chosen areas of businesses Tocontinuously create new opportunities for growth in our strategic businesses Tobe among the top 10 most admired companies to work for Tocontinuously achieve a return on capital of at least 10 points higher than the cost of capitalJubilant Vision6 Experienced Management team with high standards of corporate governanceArunSharmaExcutiveVice President & CFO26 years KazmiPresident & CEO Jubilant Therapeutics26 years of Industry ExperienceProprietary Drug DiscoveryPharmaceuticals SegmentEvolution of Jubilant PharmaRadiopharmaAllergy Therapy ProductsCMOA ctive Pharmaceutical ProductsSolid Dosage Formulations_____(1)

6 Revenue from operationsFY03FY04FY05FY06FY07FY08FY09FY 10FY11FY12FY13FY14FY15FY16FY17FY18 JLL acquired API business Nanjangud, Karnataka, IndiaAcquired Pharmaceutical Services Incorporated and PSI Supply (Belgium)Created R&D centrefor solid dosage formulationsAcquired a majority stake in CadistaHoldings Inc. (generics pharmaceutical company in the US) with a USFDA approved manufacturing facility for solid dosage formulationsAcquired HollisterStierLaboratories LLC in US (a CMO service provider)Acquired DraxisPharma Inc. in canada (manufacturer of sterile products, non-sterile products and radiopharmaceuticals)Fund raising from IFC through a mix of debt and convertible instrumentsConsolidation of the pharmaceutical business under JPLA cquired balance of minority stake in CadistaHoldings high yield bond offering USD 300 millionCompleted acquisition of Triad s radiopharmaciesin the USFY05FY08 SGX-listed high yield bond offering USD 200 $761mUS$803mSpecialty Pharmaceuticals Pharmaceuticals ContributionCDMO 27%CDMO entered into a strategic partnership with SOFIE BiosciencesFY21 Industry Overview (1)

7 Radiopharmaceuticals Industry in North America is US$ in 2019 Expected to more than double by 2029 led by PET imaging and theragnosticapplications Oncology and cardiology diagnosis accounted for of the industry in 2017 Increase in incidence of cardiovascular, cancerous and neurological diseases are likely to drive growth in imaging proceduresBusiness Overview Specializes in cardiology, pulmonology, oncology and endocrinology as well as bone, brain and renal imaging Supplies diagnostic and therapeutic radiopharmaceutical products to 18 countries #3 radiopharmaceutical manufacturerin nuclear medicine industry in the US based on revenue(1) Customers include 3rdparty commercial radiopharmacynetworks, our radiopharmacies, hospitals, standalone imaging centers and cardiologists Long-term contracts in place in the US USFDA approved manufacturing facilities at Kirkland, MontrealProducts Dominant supplier of DRAXIMAGE MAAfor lung perfusion imaging and DraxImage DTPAfor lung ventilation and renal imaging HICON Sodium Iodine-131 solution for thyroid disease and thyroid cancer management (HICON Sodium Iodine-131 solution for thyroid disease and thyroid cancer management (We are one of three USFDA approved manufacturers globally) DraxImage Exametazime(505 (b)(2)product) for intra-abdominal infection and inflammatory bowel disease RUBY-FILL Rubidium Rb82 Generator and Elution SystemTM(505(b)(2)products))

8 For myocardial perfusion imaging with PET Plan to file NDA for I-131 mIBG(undergoing Phase II and Phase III clinical trials in US) and 505(b)(2) for 7 other products Entered into a MoUfor Tilmanocept(entering into Phase 3 clinical trials for Rheumatoid Arthritis) with NavideaBiopharmaceuticals Inc Signed an agreement for the exclusive distribution of Eckert & Ziegler s proprietary generator GalliaPharm (neuroendocrine cancers) in canada Strategic partner and largest shareholder in SOFIE Biosciences. SOFIE is involved in manufacturing and distributing radiotherapeuticsfor Pharma partners and has an exciting pipeline of their Fibroblast Activation Protein Inhibitors (FAPI) that will greatly enhance the detection and treatment of a wide variety of oncology diseasesStrategyAchieve market leadership in the nuclear medicine industry Increase market share of RUBY-FILL Generator and RUBY Elution System -cardiac PET imaging.

9 Planning to launch Ruby-Fill in Europe in FY21 Leverage leadership position in existing products Expand product portfolio through launch of niche and differentiated products_____(1)According to Frost & Sullivan -Independent Market Research on the Radiopharmaceutical Industry, US RadiopharmacyChain, US Contract Manufacturing Organisation Industry, US Allergy ImmunoTherapy Industry and the Global and US Generic Pharmaceutical (US$bn)Market Size of Industry in North AmericaRadiopharmaceuticals Business Radiopharmaceuticals Business Key ProductsKit for the Preparation of Technetium Tc 99m Albumin Aggregated Injection (MAA)RUBY-FILL (Rubidium Rb-82 Generator) and Elution SystemHICON Sodium Iodide I-131 Solution USP The RUBY-FILL Rubidium Rb82 Generator contains accelerator produced Strontium-82, which decays to Rubidium-82. The generator is used to produces a sterile solution of Rb-82 Chloride that is used for Cardiac Positron Emission Tomography (PET), a non-invasive imaging procedure of the myocardium, to evaluate regional myocardial perfusion in adult patients with suspected or existing coronary artery disease.

10 Used as an adjunct in the evaluation of pulmonary perfusion (blood flow in lungs) in adults and pediatric patients. Comparing regional blood flow and regional ventilation enables physicians to obtain an accurate functional assessment of pulmonary pathophysiology for the non-invasive evaluation of pulmonary embolism (PE), differential lung function, or other specifically directed clinical questions on lung pathology. HICON is a radioactive therapeutic agent indicated for the treatment of hyperthyroidism and selected cases of carcinoma of the thyroid. The thyroid gland needs iodine to produce its essential hormones that help regulate the body s metabolism. Radioactive iodine, such as iodine-131, is captured by the thyroid. When it accumulates in thyroid cells, it releases radiation that will destroy these cells. Hence, its a preferred treatment option for differentiated thyroid cancer (DTC) the most common form of thyroid cancer, and radiopharmaciesspread across22 states~750 mn+ doses delivered ,700 customers across National GPOs, Regional Networks, local hospitals and physician groupsStrong relationships with major national GPOs # 2 commercial radiopharmacynetwork(1)in the US, operated under the Jubilant Radiopharmacybrand Facilities include three cyclotrons Multi-year agreements with GPOs in placeJubilant Radiopharmacies_____(1)According to Frost & Sullivan -Independent Market Research on the Radiopharmaceutical Industry, US RadiopharmacyChain, US Contract Manufacturing Organisation Industr