Investec Best Ideas Conference, 16 November 2020: CEO presentation

Executing on our inhaled specialist CDMO strategy

Will Downie, Chief Executive Officer

Investec Best Ideas Conference 2020

16th November 2020

Disclaimer

The information contained in this document and made verbally to you (together the "Presentation") is confidential and is being supplied, in the United Kingdom only to persons with professional experience in matters relating to investments and/or to high net worth companies as described in Article 19(5) and 49(2) respectively of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 (SI. 2001/No. 1335) (as amended) made pursuant to section 21(5) of the Financial Services and Markets Act 2000 and, if permitted by applicable law, is being supplied outside the United Kingdom to professionals or institutions whose ordinary business involves them in investment activities. The information contained in this document is not intended to be viewed by, or distributed or passed on (directly or indirectly) to, any other class of persons. Recipients of this Presentation should not base any behaviour in relation to the contents of this Presentation, which would amount to market abuse as defined in Section 118 of the Financial Services and Markets Act 2000) until the contents are made generally available to the public.

Accordingly, information contained in the Presentation is being supplied to you solely for your information and may not be copied, reproduced or further distributed to any person or published in whole or in part, for any purpose. In particular, the distribution of this document in jurisdictions other than the United Kingdom may be restricted by law and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. Any failure to comply with these restrictions may constitute a violation of laws of any such other jurisdiction. In particular, this document is not for distribution in the United States, Australia, Canada or Japan.

This Presentation includes certain statements, estimates and projections with respect to the anticipated future performance of Vectura Group plc, its products and the markets in which it operates. Such statements, estimates and projections reflect the various assumptions made by Vectura Group plc, which assumptions may or may not prove to be correct.

No representation or warranty, express or implied, is given as to the accuracy, completeness or fairness of the information or opinions contained in theJamesPresentationWardand -noLilleyliability is accepted for any such information or opinions by Vectura Group plc (the "Company" and, together with its subsidiary undertakings, the "Group") or any of its respective directors, members, officers, employees, agents or advisers. Notwithstanding this,

Chief Executive Officer

nothing in this paragraph shall exclude liability for any representation or warranty made fraudulently.

This document and the information contained in it does not constitute a prospectus and does not form any part of an offer of, or invitation to purchase or apply for or enter into any contract or make any other commitment whatsoever in relation to, securities. In particular, details included in this Presentation are subject to updating, revision, further verification and amendment. This Presentation does not constitute a recommendation regarding the securities of the Company.

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WHO WE ARE

Cash generative business with over 20 years' experience in inhaled product development

Established

1997

Spin-out from Bath

University

UK listed

FTSE250

constituent company

Employees

~450

working internationally across five sites

Widely used technology

11

Inhaled products on the market utilising Vectura's

IP

2019 Revenue

£178.3m

+11% versus 2018

2019 Adj. EBITDA1

£43.4m

+11% versus 2018

Cash balance H1 2020

£81.9m

31 Dec 2019: £74.1m

Development

£11.4m

Royalties2	2019 Revenues
£51.9m	£178.3m
	+11.1%

Product supply

£115.0m

1 Adjusted EBITDA is calculated as reported operating profit/(loss), adjusted by adding back depreciation, amortisation, impairment, share based compensation, and exceptional items	3
2 Royalties comprise royalties, sales-based milestones, and product approval and launch milestones

WHAT WE DO

Providing inhaled drug delivery solutions that help our customers bring their medicines to patients

Drug delivery solutions

Molecules							Inhaled medicines
		Formulation			Device platforms
		Proven formulation			Proprietary devices and
		capability			development capability: DPIs,
					MDIs & nebulisers
Complex drug	Device design &	Full pharmaceutical	Device scale-up &	Technology transfer &
device selection	development	development	industrialisation	manufacture

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