Quidel Investor Presentation

June 21, 2021

Forward-Looking Statements

This presentation contains forward-looking statements within the meaning of the federal securities laws that involve material risks, assumptions and uncertainties. Many possible events or factors could affect our future results and performance, such that our actual results and performance may differ materially from those that may be described or implied in the forward-looking statements. As such, no forward-looking statement can be guaranteed. Differences in actual results and performance may arise as a result of a number of factors including, without limitation: the impact and duration of the COVID-19 global pandemic; competition from other providers of diagnostic products; our ability to accurately forecast demand for our products and products in development, including in new market segments; our ability to develop new technologies, products and markets and to commercialize new products; our reliance on sales of our COVID-19 and influenza diagnostic tests; our reliance on a limited number of key distributors; quantity of our product in our distributors' inventory or distribution channels; changes in the buying patterns of our distributors; the financial soundness of our customers and suppliers; lower than anticipated market penetration of our products; third-party reimbursement policies and potential cost constraints; our ability to meet demand for our products; interruptions, delays or shortages in the supply of raw materials, components and other products and services; failures in our information technology and storage systems; our exposure to data corruption, cyber-based attacks, security breaches and privacy violations; international risks, including but not limited to, economic, political and regulatory risks; continuing worldwide political and social uncertainty; our development, acquisition and protection of proprietary technology rights; intellectual property risks, including but not limited to, infringement litigation; the loss of Emergency Use Authorizations for our COVID-19 products and failures or delays in receipt of reviews or regulatory approvals, clearances or authorizations for new products or related to currently-marketed products by the U.S. Food and Drug Administration (the "FDA") or other regulatory authorities or loss of any previously received regulatory approvals, clearances or authorizations or other adverse actions by regulatory authorities; our contracts with government entities involve future funding, compliance and possible sanctions risks; product defects; changes in government policies and regulations and compliance risks related thereto; our ability to manage our growth strategy and successfully identify, acquire and integrate potential acquisition targets or technologies and our ability to obtain financing; our acquisition of Alere's Triage® business presents certain risks to our business and operations; the level of our deferred payment obligations; our exposure to claims and litigation that could result in significant expenses and could ultimately result in an unfavorable outcome for us, including the ongoing litigation between us and Beckman Coulter, Inc.; we may need to raise additional funds to finance our future capital or operating needs; our debt, deferred and contingent payment obligations; competition for and loss of management and key personnel; business risks not covered by insurance; changes in tax rates and exposure to additional tax liabilities or assessments; and provisions in our charter documents and Delaware law that might delay or impede stockholder actions with respect to business combinations or similar transactions. Forward-looking statements typically are identified by the use of terms such as "may," "will," "should," "might," "expect," "anticipate," "estimate," "plan," "intend," "goal," "project," "strategy," "future," and similar words, although some forward- looking statements are expressed differently.

Forward-looking statements in this presentation include, among others, statements concerning our outlook for the business, including, among others, projections about our revenue, indebtedness, product demand, new and expansion product developments and market opportunities, including pricing, growth of our non-COVID portfolio, OTC opportunities, manufacturing, regulatory and commercial activities; our strategic initiatives, goals, focus and objectives, including company transformation; our merger and acquisition ("M&A") strategy. The risks described in reports and registration statements that we file with the Securities and

Exchange Commission from time to time, should be carefully considered, including those discussed in Item 1A, "Risk Factors" and elsewhere in our Annual Report on Form 10 K for the year ended December 31, 2020

and in our subsequent Quarterly Reports on Form 10 Q. You are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date of this presentation. Except as required by law, we undertake no obligation to publicly release any revision or update of these forward-looking statements, whether as a result of new information, future events or otherwise.

  • Projections: The revenue, market and other projections and estimates in this presentation are based on numerous variables and assumptions, which are inherently uncertain, including factors related to the impact of the COVID-19 pandemic, general economic and competitive conditions and the ability to successfully develop and launch new products to meet anticipated market demands. Accordingly, actual results could differ materially from those set forth in the projected or estimated numbers. Inclusion of such projected and estimated numbers in this presentation should not be regarded as a representation that such results will be achieved. See "Forward-LookingStatements" above.

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Copyright © 2021 Quidel Corporation. All rights reserved.

Quidel is a diagnostics company with multiple revenue opportunities.

Favorable healthcare trends are expected to drive sustained growth at attractive margins.

Quidel develops, manufactures, and sells diagnostic solutions across

a broad continuum.

We grow by introducing products

to the market that address the following attributes:

Our primary markets have been the physician office labs (POLs), hospitals, labs and urgent care centers.

New markets allow democratization of testing: pharmacies,

Improved Accuracy

Faster Turn Around Time

Lower Cost

Easier to Use

  • More Efficient Workflow
  • Better Data Handling

retail, at-home and other alternate sites.*

  • This is expected to evolve dramatically over time to provide far greater access to testing for common or routine conditions

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Copyright © 2021 Quidel Corporation. All rights reserved.

Pre-COVID, Quidel was committed to delivering strong performance by investing in growth and innovation.

2009 - Present

Acquired Triage and BNP

Submitted over 30 510(k)

Over 25 FDA clearances

and expanded product

Businesses from Alere

packages to the FDA

claims, 4 CLIA waiver

designations

Launched Sofia 2 platform,

Launched Solana

Launched Sofia platform

3 FDA-cleared assays

instrumented MDx platform

and 4 FDA-cleared assays

Launched 2 first

Launched Virena

Acquired DHI ($45 million

generation MDx systems

wireless system

annual direct business)

(AmpliVue & Lyra)

Acquired BioHelix

Acquired

Acquired RPS

Acquired

Immutopics

ViroMed, CellPro

(proprietary HDA

POC direct Eye

direct bone health

direct Virology

technology)

Care businesses

business

businesses

1989 - 2009

Launched QuickVue Influenza A/B

First company to receive CLIA waiver

rapid diagnostic assay

for Flu, Strep and H. pylori tests

1979 - 1989

Company founded

Primarily a provider of Strep A and

Pregnancy rapid diagnostics

REVENUES

$1,800

($, in millions)

$1,600

$1,400

$1,200

$1,000

$1,164.4

$800

$600

$400

$266.5

$266.5

$242.9

$200

$47.0

$255.8

$268.4

$254.4

$177.3

$184.2

$196.1

$191.6

$230.7

$0

2 0 1 3

2 0 1 4

2 0 1 5

2 0 1 6

2 0 1 7

2 0 1 8

2 0 1 9

2 0 2 0

Legacy Quidel Business Triage & BNP Acquisition

Covid-19 Business

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*Quidel full year revenues (2010-2020), legacy revenue excludes acquired Cardiac (Triage & Beckman BNP).

Copyright © 2021 Quidel Corporation. All rights reserved.

During the pandemic, Quidel fully leveraged competencies across the organization to quickly develop and scale several key COVID-19 testing solutions.

Responded quickly to the pandemic: received 8 EUAs for COVID-19 diagnostics across multiple technologies:

PCR, rapid antigen, and isothermal SARS assays for professional use

QuickVue OTC, Sofia SARS received serial testing and asymptomatic EUA

Total Revenues in 2020 grew by approximately $1.1B to $1.6B; +210% growth versus last year:

Sofia SARS revenues were $1.0B

Lyra SARS-2-CoV-2 revenues were $0.2B

Minimal QuickVue and Solana SARS revenues in 2020

Core Revenues down ~7%

Operating Margin in 2020 at 64%, compared to 17% in 2019

Sofia installed base grew to 70,000 total instrument placements through Q1 2021; Solana at 1,500 placements Focused Production Capacity Ramp: increasing capacity 10X

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Copyright © 2021 Quidel Corporation. All rights reserved.

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Quidel Corporation published this content on 21 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 June 2021 00:02:03 UTC.