Azenta : Q3 2022 Azenta Inc. Earnings Conference Call

Conference Call

Third Quarter FY22 Financial Results & Acquisition of B Medical Systems

August 9, 2022

Safe Harbor Statement

"Safe Harbor" Statement under the U.S. Private Securities Litigation Reform Act of 1995; certain matters in this presentation, including forecasts of future demand and future Company performance, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to materially differ, either better or worse, from those projected. Further discussions of risk factors are available in the Company's most recent SEC filings including form 10-K for the fiscal year ended September 30, 2021. The Company assumes no obligation to update the information in this presentation.

Regulation G

This presentation	contains certain non-GAAP measures which are provided
to assist in an	understanding of the Azenta business and its operational

performance. These measures should always be considered in conjunction with the appropriate GAAP measure. Reconciliations of all non-GAAP amounts to the relevant GAAP amount are provided in either an attachment to our third quarter financial results press release issued on August 9, 2022 or as an attachment to call slides used to accompany prepared comments made during our financial results conference call of the same date. Both documents are available on our website at www.azenta.com.

2

Azenta Life Sciences | Proprietary and confidential.

Azenta Q3 2022 Overview

Continuing Operations - Quarter Ended June 30, 2022

• Q3 organic growth of 6% YtY
• 6% organic growth excludes 3pt headwind from FX; Up 3% YtYas-reported basis
• Organic growth of 8% YtY in Services and 2% YtY in Products
• COVID lockdowns in China and lowerCOVID-related revenue demand providing a significant net impact of 11pts to overall YtY growth
• Non-GAAPEPS $0.12, flat QtQ and up $0.01 YtY; Adj. EBITDA of 10.4%
• GAAP EPS $(0.09) on continuing operations
• Q3 $2.5B of cash on hand with no debt; M&A subsequent toquarter-end
• Acquired Barkey Holding GmbH, July 1st - automated controlled rate thawing
• Signed definitive agreement to acquire B Medical Systems - global provider of intelligent configurable cold chain storage and transport solutions

3

Azenta Life Sciences | Proprietary and confidential.

Azenta Life Sciences Operating Performance

Continuing Operations - Quarter Ended June 30, 2022

	GAAP				non-GAAP
$ millions, except EPS	Q3'22	Q t Q		Q3'22	Q t Q	Y t Y
Revenue	133	(9%)	133	(9%)	3%

Gross profit	60
%	44.9%
R&D	7
SG&A	58
Operating Income	(5)
%	(3.8%)
Interest Income (Expense)	5
Loss on Debt Extinguishment	-
Other Income (Expense)	1
Tax Benefit (Provision)	(7)
Net Income - continuing ops	(7)
%	(5.3%)

(16%)

(3.8) pts.

(6%)

(15%)

nm(0.6) pts.

$3 $1 ($2)

($10)

nm

(4.0) pts.

61

46.3%

7

50

4

3.4%

5

n/a

1

(1)

8.8

6.6%

(15%)	(5%)
(3.3) pts.		(3.7) pts.
(6%)	19%
(9%)	5%
(54%)	(60%)
(3.3) pts.		(5.3) pts.
$3	$5
n/a		n/a
($2)	$2
$0	$1
0%	15%
0.6 pts.		0.7 pts.

Continuing Ops - Diluted EPS	$	(0.09)
Total Azenta - Diluted EPS	$	(0.13)

Adjusted EBITDA

%

$ (0.07)

$ (28.41)

0.12

14

10.4%

$ 0.00 $ 0.01

(29%)	(26%)
(2.9) pts.	(4.1) pts.

• 6% YtY organic growth with 3 point headwind from FX

4

Azenta Life Sciences | Proprietary and confidential.

See Appendix to this presentation for a reconciliation of GAAP to non-GAAP

Life Sciences Products Performance

Continuing Operations - Quarter Ended June 30, 2022

$ millions	Q2'22		Q3'22		Q t Q		Yt Y
Revenue	54	47	(12%)	(3%)
Gross profit	27	21	(20%)	(8%)
%	49.5%	44.9%		(4.6) pts.		(2.6) pts.
Operating expenses	21	19	(10%)	6%
Operating income	5	2	(58%)	(56%)
%	9.9%	4.7%		(5.2) pts.		(5.7) pts.

Adjusted EBITDA	8.3	4.4	(0.5)	(41%)
%	15.5%	9.3%	(6.2) pts.	(5.9) pts.	YtY growth at constant currency:
					•(14%) C&I
					•26% Stores & Services

• 2% YtY organic growth, net of $2M negative currency impact
• • 27% YtY organic growth in automated store systems and 25% in related services
  • Consumables and instruments lower primarily on decline from high 2021 COVID demand for tubes
• Gross margin reflects lower Consumables revenue mix and leverage; YtY improvement in systems and related services

5

Azenta Life Sciences | Proprietary and confidential.

See Appendix to this presentation for a reconciliation of GAAP to non-GAAP