Qiagen N : Earnings Document

Q2 2022 results

Solid results with 10% CER sales growth in non-COVID portfolios

Forward looking and intended use statements

Safe Harbor Statement: This presentation contains both historical and forward-looking statements. All statements other than statements of historical fact are, or may be, deemed to be forward looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. To the extent that any of the statements contained herein relating to QIAGEN's products, launches, regulatory submissions, collaborations, markets, strategy, taxes or operating results, including without limitation its expected net sales, net sales of particular products (including anticipated sales of the portfolio of products used in the response to the COVID-19 pandemic, its QFT-Plus test for latent TB, its portfolio of next generation sequencing solutions as well as Sample technologies, NeuMoDx, QIAcuity digital PCR, and QIAstat-Dx and QuantiFERON), net sales in particular geographies, adjusted net sales, adjusted diluted earnings per share results, product launches (including anticipated launches of next generation sequencing solutions, the QIAstat-Dx syndromic testing platform, a gastrointestinal panel in the U.S., and a CE-IVD marked panel for meningitis for the QIAstat-Dx syndromic testing platform, along with the QuantiFERON-based tests for tuberculosis and Lyme disease), placements of QIAsymphony modular PCR instruments, improvements in operating and financial leverage, currency movements against the U.S. dollar, plans for investment in our portfolio and share repurchase commitments, our ability to grow adjusted earnings per share at a greater rate than sales, our ability to improve operating efficiencies and maintain disciplined capital allocation, are forward-looking, such statements are based on current expectations and assumptions that involve a number of uncertainties and risks. Such uncertainties and risks include, but are not limited to, risks associated with management of growth and international operations (including the effects of currency fluctuations, regulatory processes and dependence on logistics); variability of operating results and allocations between customer classes; the commercial development of markets for our products to customers in academia, pharma, applied testing and molecular diagnostics; changing relationships with customers, suppliers and strategic partners; competition; rapid or unexpected changes in technologies; fluctuations in demand for QIAGEN's products (including fluctuations due to general economic conditions, the level and timing of customers' funding, budgets and other factors); our ability to obtain regulatory approval of our products; difficulties in successfully adapting QIAGEN's products to integrated solutions and producing such products; the ability of QIAGEN to identify and develop new products and to differentiate and protect our products from competitors' products; market acceptance of QIAGEN's new products and the integration of acquired technologies and businesses; actions of governments, global or regional economic developments, weather or transportation delays, natural disasters, political or public health crises, including the breadth and duration of the COVID-19 pandemic and its impact on the demand for our products and other aspects of our business, or other force majeure events; and the other factors discussed under the heading "Risk Factors" contained in Item 3 of our most recent Annual Report on Form 20-F. For further information, please refer to the discussions in reports that QIAGEN has filed with, or furnished to, the U.S. Securities and Exchange Commission (SEC).

Regulation G: QIAGEN reports adjusted results, as well as results on a constant exchange rate (CER) basis, and other non-U.S. GAAP figures (generally accepted accounting principles), to provide additional insight on performance. In this presentation, adjusted results include adjusted net sales, adjusted gross income, adjusted net income, adjusted gross profit, adjusted operating expenses, adjusted operating income, adjusted operating margin, adjusted net income before taxes, adjusted income tax, adjusted tax rate, adjusted EBITDA, adjusted EPS, adjusted diluted EPS and free cash flow. Adjusted results are non-GAAP financial measures QIAGEN believes should be considered in addition to reported results prepared in accordance with GAAP but should not be considered as a substitute. QIAGEN believes certain items should be excluded from adjusted results when they are outside of its ongoing core operations, vary significantly from period to period, or affect the comparability of results with its competitors and its own prior periods. Please see the Appendix provided in this presentation "Reconciliation of Non-GAAP to GAAP Measures" for reconciliations of historical non-GAAP measures to comparable GAAP measures and the definitions of terms used in the presentation. QIAGEN does not reconcile forward-lookingnon-GAAP financial measures to the corresponding GAAP measures due to the high variability and difficulty in making accurate forecasts and projections that are impacted by future decisions and actions. Accordingly, reconciliations of these forward-lookingnon-GAAP financial measures to the corresponding GAAP measures are not available without unreasonable effort. However, the actual amounts of these excluded items will have a significant impact on QIAGEN's GAAP results.

July 27, 2022

Q2 2022 results

2

Q2 2022: Non-COVID product groups outperformed expectations

Net sales (CER)

Q2 2022: $544 million(1) vs. ≥ $510 million outlook

• 10% - 39%

non-COVID products

COVID-19 products

Adjusted EPS (CER)

Q2 2022: $0.53 vs. ≥ $0.46 outlook

		CER - Constant Exchange Rates.
1)	$516 million, -9% at actual rates	Refer to appendix for reconciliation of reported to adjusted figures.
July 27, 2022	Q2 2022 results	3

Q2 2022: Strong performance from non-COVID portfolio

High-performing non- COVID business

+10% CER growth in non-COVID product groups, solid gains from Five Pillars of Growth

Expanding portfolio value

>1,000 cumulative placements for QIAcuity dPCR

Launched new instruments: QIAstat-Dx Rise and QIAxcel

Executing on menu expansion for NeuMoDx with new HSV ½ Quant Assay

Strong operating cash	Increasing 2022 full-
flow	year outlook
H1 2022 operating cash flow	Sales:>$2.2 billion CER
+33% to $379 million	Double-digit CER growth in
Free cash flow +63% to
non-COVID products
$318 million	Adj. EPS: >$2.30 CER

July 27, 2022

Q2 2022 results

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Q2 2022: Solid non-COVID sales growth in key product groups

Non-COVID / COVID split

By product group

(In $ millions at actual rates)

- 4% CER

$567

408

160

$516

Non-COVID product groups

423 + 10% CER(1)

COVID-19 product

92 groups

- 39% CER

(In $ millions at actual rates)

- 4% CER

$567

203

154

109

80

$516

					Sample	- 7% CER
178					technologies
157					Diagnostic	+ 7% CER
				solutions	+ 0% CER
105					PCR / Nucleic
				acid amplification
57					Genomics / NGS	- 23% CER

Other

Q2 2021

Q2 2022

1. +15% CER excluding $20 million genomics license agreement in Q2 2021
2. +8% CER in non-COVID Sample technologies products

July 27, 2022

Q2 2021

Q2 2022

Growth rates vs. Q2 2021 at CER. | Refer to appendix for growth at actual rates. | Tables may contain rounding differences.

Q2 2022 results

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