WuXi Biologics2017 Interim Results

August 2017

(Stock Code: 2269.HK)

Forward-Looking Statements

This presentation may contain certain “forward-looking statements” are not historical facts, butinstead are predictions about future events based on our beliefs as well as assumptions made by andinformation currently available to our management. Although we believe that our predictions arereasonable, future events are inherently uncertain and our forward-looking statements may turn outto be incorrect. Our forward-looking statements are subject to risks relating to, among other things,the ability of our service offerings to compete effectively, our ability to meet timelines for theexpansion of our service offerings, and our ability to protect our clients’ intellectual property. Ourforward-looking statements in this presentation speak only as of the date on which they are made,and we assume no obligation to update any forward-looking statements except as required byapplicable law or listing rules. Accordingly, you are strongly cautioned that reliance on any forward-looking statements involves known and unknown risks and uncertainties. All forward-lookingstatements contained herein are qualified by reference to the cautionary statements set forth in thissection.

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Use of Adjusted Financial Measures

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We have provided adjusted net profit, net profit margin, EBITDA, EBITDA margin and dilutedearnings per share for the first half of 2016 and 2017, which excludes share-based compensationexpenses, listing expenses and foreign exchange loss, and are not required by, or presented inaccordance with, IFRS. We believe that the adjusted financial measures used in this presentation areuseful for understanding and assessing underlying business performance and operating trends, andwe believe that management and investors may benefit from referring to these adjusted financialmeasures in assessing our financial performance by eliminating the impact of certain unusual andnon-recurring items that we do not consider indicative of the performance of our business. However,the presentation of these non-IFRS financial measures is not intended to be considered in isolationor as a substitute for the financial information prepared and presented in accordance with IFRS. Youshould not view adjusted results on a stand-alone basis or as a substitute for results under IFRS, oras being comparable to results reported or forecasted by other companies.

Agenda

I. Results Highlights

II. Business Operational Overview

III. Financial Overview

IV. Growth Strategies and Conclusion

V. Appendix

VI. Q&A session

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I. Results Highlights

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First Half 2017 Overview: Revenue

Revenue grew 59.5% YoY, from RMB410.1 million to RMB654.0 million

Revenue growth in the United States, China, Europe, and Rest of World

were 53%, 58%, 1,664%, and 58% YoY, respectively

Phenomenal backlog growth to US$452 million as of June 30, 2017, vs

US$68 million as of June 30, 2016 and US$383 million as of May 23, 2017

Increasingly solid track record in the global competition

Successful execution of business development in Europe

Doubling of our late phase (phase III) projects from 3 to 6 requiring

more large-scale manufacturing

We expect strong revenue growth to continue in 2H 2017

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First Half 2017 Overview: Profitability

Despite of the ramp-up of a new facility, our 1H 2017 gross margin of 40.4%

was still higher than that of full year of 2016, 39.3%.

Adjusted EBITDA grew 51.7% YoY, from RMB175.4 million to RMB266.1

million. Adjusted EBITDA margin of 1H 2017 was 40.7% vs 37.5% for 2016

Gross profit margin of 40.4%, adjusted EBITDA margin of 40.7% and

adjusted net profit margin of 23.4% all beat full year 2016 numbers

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First Half 2017 Overview: Cash

Net operating cashflows improved to RMB227.3 million from negative

RMB60.0 million in 1H 2016

We raised a net proceeds of equivalent approximately RMB3,367.9 million

from IPO

Cash and cash equivalents amounted to RMB3,619.8 million as of June 30,

2017

We repaid around RMB1 billion bank loan as of July 31, 2017 and expect to

repay bridge loan of US$38.6 million in early September 2017

Interest expense will be significantly reduced in 2H 2017

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First Half 2017 Operational Highlights

Record high number of integrated projects, increased from 75 as of June 30,

2016, 103 as of January 2017, to 134 as of June 30, 2017

Number of late phase (phase III) projects doubled to 6 as of June 30, 2017 from

3 at the time of our IPO, requiring more process development and large-scale

GMP manufacturing: significant contributions to backlog growth

Expansion plan of our two new facilities on schedule

30,000L commercial manufacturing capacity at Wuxi city: 2x1,000L

perfusion line operational, 1st batch completed Q2 2017; 14x2,000L fed-

batch line in validation, expect operational Q4 2017

7,000L clinical manufacturing capacity in shanghai: shell construction and

equipment order in progress, expect operational Q2 2018. Once completed,

will more than double the clinical manufacturing capacity

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Recent Operational Highlights

Rapid expansion of talent base from 1,624 employees as of December 31, 2016

to 1,998 employees as of June 30, 2017, which enables sustainable revenue

growth. Expect Headcount to reach 2,600-2,800 by December 2017

Out-licensing of the Fully Human PD-1 Antibody (GLS-010) to Arcus Biosciences

Our China gateway and global capabilities allow us to increase our

potential revenues significantly for each molecule

US$18.5 million upfront payment expected 2nd half of 2017

Total US$816 million milestone payments and up to 10% royalty

Exclusive manufacturer for GLS-010

Three-year exclusive partner for developing Arcus’ biologics portfolio

First PLI Audit in China– Validation of Our “Follow-the-Molecule” Strategy

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On August 3, 2017, the U.S. FDA completed the PLI for production of ibalizumab with no critical observations

The five-inspector, 13-day inspection covered both drug substance and drug product facilities in the city of Wuxi, China

We expect to complete all follow-up actions by October 2017

First commercial batch is expected to be delivered in 1Q 2018, if approved

First commercial manufacturing project for WuXi Biologics

This validated both our global quality standard and pioneer use of disposable bioreactors for commercial manufacturing

First Biologics

PLI in China

Inspected facilities will be the first cGMP biologics manufacturing facilities in China approved by the

U.S. FDA for a commercial biologics product

If ibalizumab is approved

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II. Business Operational Review

Our Mission and Business Model

To transform and accelerate pharmaceutical discovery, development and manufacturing in the fast growing field of biologics to benefit patients worldwide

Our Mission

Our Strong Proprietary Technology Platform

Our customers’ demand for our services increases as their biologics advance through development and ultimately to commercialization, which allows our revenue from each project to grow geometrically as the project advances through the biologics

development cycle

Our “Follow the Molecule” Integrated Solution Model

Biologics Characterization &

Testing Platform

Proprietary Cell Line Development

Platform

Biologics Discovery Platform

State-of-the-art Cell Culture Platform

Biologics & ADC Manufacturing

Platform

Biologics Formulation Platform

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Solid Business Progress

68

280

383

452

0

50

100

150

200

250

300

350

400

450

500

Jun 2016 Jan 2017 May 2017* Jun 2017

Backlog

USD mm

Analysis of Integrated Projects (1) By Phases

59

14

2

66

33

3 1

90

33

3 1

92

35

61

0

10

20

30

40

50

60

70

80

90

100

PreclinicalDevelopment

Early Phase Late Phase CommercialManufacturing

Jun 2016

Jan 2017

May 2017

Jun 2017

Drug Discovery Preclinical Development Early Phase (Phase I & II) Late Phase (Phase III) Commercial Manufacturing

PRE-IND POST-IND

US$1.5-2.5 mm US$4-6 mm US$4-6 mm US$20-50 mm US$50-100 mm(2)Typical Revenue

For Stage:

92 35 6 1

Total: 134On-Going Integrated

Project Numbers(1):

Notes: 1. Integrated projects are projects that require us to provide services across different stages of the biologics development process2. Estimated value when a biologic drug reaches peak sales. A biologic drug typically reaches peak sales after a ramp-up period

*May 2017 is the Latest Practicable Date for IPO prospectus

No. of Integrated Projects (1)

75

103

127134

0

20

40

60

80

100

120

140

160

Jun 2016 Jan 2017 May 2017* Jun 2017

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III. Financial Overview

Phenomenal Financial Performance

Adjusted Net Profit (2)

331.9

557.0

989.0

410.1

654.0

0

300

600

900

1,200

2014 2015 2016 1H2016 1H2017

Revenue

RMB mm

98.7145.3

370.8

175.4

266.1

0

150

300

450

600

2014 2015 2016 1H2016 1H2017

Adjusted EBITDA (1)

RMB mm 29.7% 26.1% 42.8% 40.7%37.5%

42.0 44.5

141.183.9 92.24.8 26.9

47.6

22.830.7

0.1

13.8

31.9

8.5

16.1

46.864.9

219.1

112.5152.8

0

70

140

210

280

2014 2015 2016 1H2016 1H2017

RMB mm

12.6%

14.1%

8.0%

11.7%

14.3%

22.2%

20.5%

27.4%

14.1%

23.4%

Notes: 1. Adjusted EBITDA represents net profit before (i) interest income and expense, income tax expenses and (ii) certain non-cash expenses, consisting of share-based compensation, amortization, depreciation and impairment of

goodwill and (iii) FX gains and losses2. Adjusted net profit excludes share-based compensation, foreign exchange gain or losses, and listing expense; For the year of 2015, 2016 and period of 1H 2016, the company recorded foreign exchange gains

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RMB mm

Listing ExpenseAdjusted Margin % SBC ImpactUnadjusted Margin % FX Impact

Gross Profit

123.3180.7

389.1

186.6

264.3

0

150

300

450

600

2014 2015 2016 1H2016 1H2017

37.1% 32.4% 39.3% 45.5% 40.4%

Robust Growth Across All Geographic Markets (1)

Rest of the world (3)

Notes: 1. Geographic breakdown by client headquarters2. Decline in revenue from PRC in 2015 due to a substantial number of on-going project-based service contracts and work orders with Chinese customers pending standard regulatory approvals in 20153. Rest of the world primarily includes Canada, Israel, Japan, India and South Korea

RMB mm

1H2016 Revenue

United States of America

52.3%

PRC39.1%

Europe 3.0%

Rest of the World5.6%

1H2017 Revenue

RMB654.0 mm

PRCRMB mm

United States of America

107.6

354.6

505.0

223.9

342.3

2014 2015 2016 1H2016 1H2017

RMB mm

Europe RMB mm

(2)

191.3 158.8

385.3

161.9

255.6

2014 2015 2016 1H2016 1H2017

2.6 5.1

21.1

1.1

19.4

2014 2015 2016 1H2016 1H2017

30.4 38.5

77.6

23.2

36.7

2014 2015 2016 1H2016 1H2017

United States of America

54.6%

PRC39.5%

Europe 0.3%

Rest of the World5.6%

RMB410.1 mm

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Revenue Breakdown by Development Process Stages

Revenue by Development Process Stages

RMB mm

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277.5334.7

681.3

298.2

448.3

54.4

222.3

307.7

111.9

205.7

331.9

557.0

989.0

410.1

654.0

0

250

500

750

1,000

2014 2015 2016 1H2016 1H2017

Pre-IND Services Post-IND Services

83.6%

16.4%

60.1%

39.9%

27.3%

72.7%

31.5%

68.5%

68.9%

31.1%

Capital Expenditure and Use of Proceeds

51.0

334.4428.9

~1,008

0

400

800

1,200

2014 2015 2016 2017E

RMB mm

Purchase of Plants and Equipment Use of Proceeds

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As of July 31, 2017, the Group has subsequently repaid the syndicated loanborrowed from SPDB & Pingan in full (approximately RMB 1 billion).

% of Total Net Proceeds

Use of Proceeds

36%To repay all the Group’s outstandingbank facilities

56%To construct new facilities, as well asimprove and maintain existing facilities

8%For the Group’s working capital andother general corporate purposes

1H 2017 Financial Summary

(RMB million) 1H 2017 1H 2016 Change

Revenue 654.0 410.1 59.5%

Cost of services (389.8) (223.5)

Gross Profit 264.3 186.6 41.6%

Other income 16.1 5.1

Other gains and losses (15.9) (0.8)

Selling and marketing expenses (13.3) (6.6)

Administrative expenses (51.1) (39.8)

Research and development expenses (36.4) (30.1)

Other expenses (16.1) (8.5)

Financial Cost (31.3) (8.1)

Profit before Tax 116.2 97.8 18.8%

Income Tax Expenses (24.0) (13.9)

Profit and total comprehensive income for the period 92.2 83.9 9.9%

Earnings per share – Basic (RMB) 0.09 0.09

Earnings per share – Diluted (RMB) 0.09 0.09

20*Result may not foot due to rounding

Reconciliation for Adjusted net profit and Adjusted EBITDA

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(RMB million) 1H 2017 1H 2016

Adjusted net profit Reconciliation

Net profit 92.2 83.9

Share-based Compensation 30.7 22.8

Listing Expenses 16.1 8.5

Foreign Exchange (Gain) or Loss 13.8 (2.7)

Adjusted net profit 152.8 112.5

Adjusted EBITDA Reconciliation

EBITDA 205.5 146.8

Share-based Compensation 30.7 22.8

Listing Expenses 16.1 8.5

Foreign Exchange (Gain) or Loss 13.8 (2.7)

Adjusted EBITDA 266.1 175.4

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IV. Growth Strategies and Conclusion

Growth Strategies

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• Expand Commercial and Research Manufacturing Capacities

• Invest in Cutting-edge Technologies through Both In-house Research and Development and Potential Acquisitions

• Building upon Strong Customer Relationships to Secure New Projects from Existing Customers

• Leveraging the Existing Market Position to Expand the Customer Base

• Continue to Attract, Train and Retain Quality Talent to Support Our Rapid Growth

• Capitalize on Our Strategic China Location to Provide Customers with a Unique Value Proposition

1 2

3 4

5 6

We delivered another strong performance for the first half of 2017, and weexpect this strong growth to continue in 2H 2017

FDA PLI completion is a key milestone for our commercial manufacturingcapabilities

Our capacity expansion is on schedule which enables us to continue to deliversustainable growth

Recent out-licensing of GLS-010 to Arcus Biosciences shows that our Chinagateway and global capabilities allow us to increase potential revenuessignificantly for each molecule. Expect significant milestone payments androyalties if the product is approved

Conclusion

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V. Appendix

Share Count Information

Date Description No. of Shares

27-Feb-2017 Share Issued 964,000,000

13-Jun-2017 Shares of Global Offering 170,118,057

14-Jun-2017 Exercise of Over-allotment 28,947,000

Sub-total Share Issued and Outstanding 1,163,065,057

First Half of 2017 Share Options Exercised -

30-Jun-2017 Weighted Average Number of Ordinary Shares-Basic 983,636,597

30-Jun-2017 Share Options and Equivalents 45,919,209

30-Jun-2017 Weighted Average Number of Ordinary Shares-Diluted 1,029,555,806

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Q&A Session

THANK YOU!