10th May, 2024

(1) BSE Ltd.

(2) National Stock Exchange of India Ltd.

Listing Department

Listing Department

Phiroze Jeejeebhoy Towers

Exchange Plaza, 5th floor

Dalal Street

Plot no. C/1, G Block

Mumbai 400 001

Bandra Kurla Complex

Scrip Code: 500087

Bandra (East), Mumbai - 400 051

Scrip Code: CIPLA

(3) SOCIETE DE LA BOURSE DE

LUXEMBERG

Societe Anonyme

35A Boulevard Joseph II

L-1840 Luxembourg

Sub: Investor Presentation

Dear Sir/Madam,

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith the Investor Presentation dated 10th May, 2024.

Kindly take the above information on record.

Thanking you,

Yours faithfully,

For Cipla Limited

RAJENDR Digitally signed by RAJENDRA

A KUMAR KUMAR CHOPRA Date: 2024.05.10 CHOPRA 14:32:40 +05'30'

Rajendra Chopra

Company Secretary

Encl: As above

Prepared by: Pavankumar Yadav

Cipla Ltd.

Regd. Office - Cipla House, Peninsula Business Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai-400 013, India

P +91 22 41916000 F +91 22 41916120 W www.cipla.com E-mail contactus@cipla.comCorporate Identity Number L24239MH1935PLC002380

Investor Presentation

Q4FY24

10-05-2024

1

DISCLAIMER

Except for the historical information contained herein, statements in this presentation and the subsequent discussions may constitute "forward-looking statements". These forward-looking statements involve a number of risks, uncertainties, pandemic and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to our ability to successfully implement our strategy, our growth and expansion plans, our ability to obtain regulatory approvals, technological changes, fluctuation in earnings, foreign exchange rates, our ability to manage international operations and exports, our exposure to market risks as well as other risks.

The investor presentation is not intended to endorse, advertise, promote or recommend the use of any products listed in it which are for representation purpose only, some of which are reference listed drugs of which the Company has approved, under approval or under development generic equivalents. The prefixes "g" and "generic" used interchangeably indicate the generic versions of the named brand drugs.

Information relating to any medical products or medical devices contained herein is provided by Cipla for general information purposes only. Information on any of the medical products or medical devices may vary from country-to-country. A reference to a medical product or a medical device does not imply that such medical product or medical device is available in your country. The commercial availability of the medical products or medical devices listed herein in your country is dependent on the validity and status of existing patents and/or marketing authorizations related to each. An independent enquiry regarding the availability of each medical products or medical device should be made for each individual country.

The product information contained herein is not intended to provide complete medical information, and is not intended to be used as an alternative to consulting with qualified doctors or health care professionals.

Nothing contained herein should be construed as giving of advice or the making of a recommendation and it should not be relied on as the basis for any decision or action. It is important to only rely on the advice of a health care professional.

2

Strong Rigor across Geographies; Financial Metrics Continue to Improve1

Q4FY24

Revenue

INR 6,163 Cr

10%

(YoY)

EBITDA

INR 1,316 Cr

13%

54 bps

(YoY)

PAT

INR 939 Cr

79%

587 bps

(YoY)

FY24

INR 25,455 Cr

14%

(YoY)

INR 6,233 Cr

26%

232 bps

(YoY)

INR 4,106 Cr

47%

365 bps

(YoY)

Business Performance Snapshot

One India

Q4FY24

INR 2,417 Cr

7%

(YoY)

INR 10,865 Cr

10%

FY24

(YoY)

Delivered highest ever

revenue at INR 10,000 Cr+

1. Ex-QCIL; Divested in Q3FY24 2. Market data IQVIA MAT Mar'24;

North America

$ 226 Mn

11%

(YoY)

$ 906 Mn

24%

(YoY)

Breached $ 900 Mn mark;

3-year CAGR at 18%

South Africa Private

ZAR 1,276 Mn

26%

(YoY)

ZAR 4,518 Mn 17%

(YoY)

Ranked #1 in the

prescription market2

Emerging Markets &

Europe

$ 100 Mn 5%

(YoY)

$ 373 Mn

Expansion in profitability

3

Financial Performance2 : FY24

Revenues INR 25,455 Cr

Revenue1 Break-up

API, 2% Others, 1%

Emerging Markets

& Europe, 12%

SAGA, 12%

One India,

43%

North America, 30%

EBITDA

INR 6,233 Cr

FY24 (Consolidated)

FY 24

vs FY23

(INR Cr)

Total Revenue from

25,455

14.0%

Operations

EBITDA

6,233

25.9%

EBITDA %

24.5%

232 bps

PAT

4,106

47.3%

PAT %

16.1%

365 bps

R&D3 INR 1,571 Cr | 6.2% of revenue 17%

(YoY)

1. India includes Rx + Gx + CHL; SAGA includes South Africa, Sub-Saharan Africa and Cipla Global Access; | 2. Ex-QCIL; Figures have been rounded-off | 3. Opex including depreciation

4

Financial Performance2 : Q4FY24

Revenues INR 6,163 Cr

Revenue1 Break-up

API, 3%

Others, 2%

Emerging

markets and Europe, 14%

One India,

39%

SAGA, 12%

North America, 30%

EBITDA

INR 1,316 Cr

Q4FY24 (Consolidated)

Actuals

vs Q4FY23

(INR Cr)

Total Revenue from

6,163

10.0%

Operations

EBITDA

1,316

12.9%

EBITDA %

21.4%

54 bps

PAT

939

79.1%

PAT %

15.2%

587 bps

R&D3 INR 444 Cr | 7.2% of revenue

19%

(YoY)

1. India includes Rx + Gx + CHL; SAGA includes South Africa, Sub-Saharan Africa and Cipla Global Access; | 2. Ex-QCIL; Figures have been rounded-off | 3. Opex including depreciation

5

FY24 Growth Pillars

Market leading growth

Big brands bigger

Investing in future

Regulatory resolutions

  • India : Chronic market1

share growth - 10%+ (4-year

CAGR)

  • North America : Fastest growing2 USGx company among its peers with >$500Mn in sales in last 4 years
  • South Africa : Ranked #1 in prescription market1; fastest growing OTC in top 5
  • India: 21 brands in IPM1 top 300; 22 brands with revenue >INR 100 Cr
  • North America :
  • Lanreotide market share3 ~21%
  • Albuterol market share3 ~13%; efforts on to improve by ~200 bps (Already at ~15.5% as per IQVIA
    Apr'24)
  • South Africa : 5 brands over revenue of ZAR 80 Mn+

Organic

  • North America : Total R&D expenses4 INR 1,571 Cr YoY growth 17%

Inorganic

  • South Africa
    • Actor pharma
  • India
    • Ivia Beaute - Brand acquisition including Astaberry®
    • Sanofi - CNS brands in- licensing

USFDA

  • VAI received for Invagen Central Islip
  • '0' 483 received for
    Hauppauge, Fall River and China
  • Remediation
    • Goa - Remediation implemented
    • Indore - Remediation in progress
  • Classification awaited
    • Kurkumbh
    • Patalganga

1. Market data as per IQVIA MAT Mar'24; 2. Financial data of peers ; 3. Market data as per IQVIA Feb'24; 4. Significant share towards US pipeline

6

Growth-Oriented Portfolio Recalibration

Investments

• Enhanced OTC Portfolio in South Africa

•

Distribution and promotion of CNS

• Focused therapies - Women's health,

product range in India

Anti-infectives and Pediatric range

•

Deal includes six CNS brands

• Investment : ZAR 900 Mn

including Frisium®

  • OTC brands acquisition of Ivia Beaute including Astaberry®. Foray into cosmetics and personal care.
  • Investment : INR 130 Cr (Milestone linked payment of INR 110 Cr in the future).
  • FY23 Sales : INR 55 Cr

Divestments

• Operating model changes for business

• Divestment to focus on capital

allocation on growth projects

in Yemen

• Market directly serviced from India

• Continued supplies of life saving

medicines in Africa through Cipla

• Amount divested : $ 6 Mn

Global Access

• Amount divested : $ 25 Mn

7

Consistent Growth Focus1

Revenue

30,000

21,763

22,334

25,455

25,000

20,000

17,132

19,160

15,000

10,000

5,000

-

FY20

FY21

FY22

FY23

FY24

PAT

4,500

16.1%

20.0%

4,000

3,500

12.6%

12.5%

15.0%

3,000

11.6%

4,106

2,500

9.0%

2,788

10.0%

2,000

2,405

2,517

1,500

1,000

1,547

5.0%

500

-

0.0%

FY20

FY21

FY22

FY23

FY24

1. FY24 and FY23 are Ex-QCIL

INR Cr

EBITDA

7,000

24.5%

30.0%

6,000

22.5%

21.0%

22.2%

25.0%

5,000

18.9%

4,952

6,233

20.0%

4,578

4,000

4,303

15.0%

3,000

3,230

10.0%

2,000

1,000

5.0%

-

0.0%

FY20

FY21

FY22

FY23

FY24

ROIC

31.0%

35.0%

30.0%

23.8%

21.6%

25.0%

20.2%

20.0%

15.0%12.5%

10.0%

5.0%

0.0%

FY20

FY21

FY22

FY23

FY24

8

Strong Net-Cash : Building a War-chest for Growth Investments

INR Cr

Total Debt

Total Cash1

3,089

8,267

2,014

6,273

4,965

2,816

3,756

1,756

1,056

803

2,009

559

824

520

247

273

259

232

283

312

FY20

FY21

FY22

FY23

FY24

FY20

FY21

FY22

FY23

FY24

Lease Liabilties

Other debt

1. Includes cash and cash equivalents including fixed deposits, current investments, margin deposits and excluding unclaimed dividend balances

9

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Disclaimer

Cipla Ltd. published this content on 10 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 May 2024 10:08:26 UTC.