FTSE COMPANY REPORT Share price analysis relative to sector and index performance

Ergomed ERGO Pharmaceuticals and Biotechnology — GBP 12.55 at close 10 August 2021

Absolute Relative to FTSE UK All-Share Sector Relative to FTSE UK All-Share Index PERFORMANCE 10-Aug-2021 10-Aug-2021 10-Aug-2021

15 300 220 1D WTD MTD YTD 14 Absolute -1.2 -2.7 2.0 19.0 200 Rel.Sector -0.8 -2.9 2.2 7.5 13 250 Rel.Market -1.6 -3.2 0.0 6.3 180 12

11 160 200 VALUATION 10 140

9 Trailing Relative Price Relative Relative Price Relative 150 120 8 PE 61.9

Absolute Price (local (local currency) AbsolutePrice 7 100 EV/EBITDA 33.7 100 6 PB 11.3 80 5 PCF 33.5 4 50 60 Div Yield 0.0 Aug-2020 Nov-2020 Feb-2021 May-2021 Aug-2021 Aug-2020 Nov-2020 Feb-2021 May-2021 Aug-2021 Aug-2020 Nov-2020 Feb-2021 May-2021 Aug-2021 Price/Sales 6.9 Absolute Price 4-wk mov.avg. 13-wk mov.avg. Relative Price 4-wk mov.avg. 13-wk mov.avg. Relative Price 4-wk mov.avg. 13-wk mov.avg. Net Debt/Equity 0.1

100 100 90 Div Payout 0.0 90 90 80 ROE 21.6

80 80 70

70 Index) Share

Share Sector) Share - - 70 DESCRIPTION 60 60 50 60 50 The Company provides specialist services to the 40 50 RSI RSI (Absolute) pharmaceutical and biotechnology industries 30 40 40 spanning all phases of clinical development, post- 20 approval pharmacovigilance and medical information.

30

10 30 RSI (Relative to FTSE UKFTSE All to RSI (Relative RSI (Relative to FTSE UKFTSE All to RSI (Relative 0 20 20 Aug-2020 Nov-2020 Feb-2021 May-2021 Aug-2021 Aug-2020 Nov-2020 Feb-2021 May-2021 Aug-2021 Aug-2020 Nov-2020 Feb-2021 May-2021 Aug-2021

Past performance is no guarantee of future results. Please see the final page for important legal disclosures. 1 of 4 FTSE COMPANY REPORT: Ergomed 10 August 2021

Valuation Metrics

Price to Earnings (PE) EV to EBITDA Price to Book (PB)

30-Jul-2021 30-Jul-2021 30-Jul-2021 100 ‖ ‖ ‖ 100 ‖ ‖ 20

80 +1SD 80 15

60 60 Avg +1SD 10 +1SD 40 40 Avg -1SD 5 Avg 20 20 -1SD -1SD 0 ‖ ‖ 0 ‖ ‖ 0 Aug-2016 Aug-2017 Aug-2018 Aug-2019 Aug-2020 Aug-2016 Aug-2017 Aug-2018 Aug-2019 Aug-2020 Aug-2016 Aug-2017 Aug-2018 Aug-2019 Aug-2020

PureTech Health 120.0 Oxford Biomedica 100.0 20.2 Dechra Pharmaceuticals 120.0 Genus 39.6 Ergomed 11.3 Genus 88.9 Dechra Pharmaceuticals 38.7 AstraZeneca 11.2 Ergomed 61.9 Ergomed 33.7 Oxford Biomedica 9.7 AstraZeneca 51.7 AstraZeneca 25.8 Dechra Pharmaceuticals 8.4 Pharmaceuticals and Biotechnology 25.7 15.1 Pharmaceuticals and Biotechnology 7.5 18.3 Pharmaceuticals and Biotechnology 14.8 Genus 7.1 GlaxoSmithKline 12.4 Hikma Pharmaceuticals 12.8 GlaxoSmithKline 4.9 Vectura Group 7.4 Indivior 9.0 Hikma Pharmaceuticals 3.9 Indivior -10.6 GlaxoSmithKline 8.5 PureTech Health 1.9 Oxford Biomedica -120.0 PureTech Health 0.0 Vectura Group 1.7 -150 -100 -50 0 50 100 150 0 20 40 60 80 100 120 0 5 10 15 20 25

Price to Cash Flow (PCF) Dividend Yield % Price to Sales (PS)

30-Jul-2021 30-Jul-2021 30-Jul-2021 80 ‖ ‖ ‖ ‖ 1 9 70 0.9 8 0.8 60 +1SD 7 0.7 50 0.6 6 40 0.5 5 +1SD Avg 30 0.4 4 0.3 20 3 Avg 0.2 -1SD 10 0.1 2 0 ‖ ‖ 0 1 -1SD Aug-2016 Aug-2017 Aug-2018 Aug-2019 Aug-2020 Aug-2016 Aug-2017 Aug-2018 Aug-2019 Aug-2020 Aug-2016 Aug-2017 Aug-2018 Aug-2019 Aug-2020

Oxford Biomedica 80.0 GlaxoSmithKline 5.6 PureTech Health 15.0 Genus 52.7 Pharmaceuticals and Biotechnology 3.1 Oxford Biomedica 12.5 Dechra Pharmaceuticals 50.4 AstraZeneca 2.1 Dechra Pharmaceuticals 10.4 Vectura Group 36.3 Hikma Pharmaceuticals 1.4 Ergomed 6.9 AstraZeneca 34.1 Dechra Pharmaceuticals 0.7 Genus 6.5 Ergomed 33.5 Genus 0.5 AstraZeneca 6.2 Pharmaceuticals and Biotechnology 18.9 Vectura Group 0.0 Vectura Group 4.7 Hikma Pharmaceuticals 18.3 PureTech Health 0.0 Pharmaceuticals and Biotechnology 3.8 GlaxoSmithKline 9.3 Oxford Biomedica 0.0 Hikma Pharmaceuticals 3.4 Indivior -8.1 Indivior 0.0 Indivior 2.4 PureTech Health -9.0 Ergomed 0.0 GlaxoSmithKline 2.1 -20 -10 0 10 20 30 40 50 60 70 80 90 0 1 2 3 4 5 6 0 2 4 6 8 10 12 14 16 Note: bar chart reflects the top and bottom five current values for the valuation ratio in question for FTSE All Shares stocks in the same sector as the stock concerned. All valuation metrics are trailing.

2 of 4 FTSE COMPANY REPORT: Ergomed 10 August 2021

Valuation Metrics

Net Debt to Equity Dividend Payout (DP) Return on Equity (RoE)

30-Jul-2021 30-Jul-2021 30-Jul-2021 0.15 1 25 0.9 0.8 20 0.7 +1SD 0.1 +1SD 0.6 15 0.5 0.4 10 Avg 0.05 0.3 Avg 0.2 5 0.1 -1SD 0 0 0 ‖ ‖ Aug-2016 Aug-2017 Aug-2018 Aug-2019 Aug-2020 Aug-2016 Aug-2017 Aug-2018 Aug-2019 Aug-2020 Aug-2016 Aug-2017 Aug-2018 Aug-2019 Aug-2020

Indivior 3.5 AstraZeneca 100.0 GlaxoSmithKline 44.2 GlaxoSmithKline 1.9 Dechra Pharmaceuticals 100.0 Pharmaceuticals and Biotechnology 31.8 Pharmaceuticals and Biotechnology 1.5 Pharmaceuticals and Biotechnology 80.5 Vectura Group 25.4 AstraZeneca 1.3 GlaxoSmithKline 69.3 AstraZeneca 23.2 Dechra Pharmaceuticals 0.6 Genus 46.7 Ergomed 21.6 Hikma Pharmaceuticals 0.4 Hikma Pharmaceuticals 26.7 Hikma Pharmaceuticals 21.1 Genus 0.3 Vectura Group 0.0 Genus 8.0 Oxford Biomedica 0.1 PureTech Health 0.0 Dechra Pharmaceuticals 5.9 PureTech Health 0.1 Oxford Biomedica 0.0 PureTech Health 0.9 Ergomed 0.1 Indivior 0.0 Oxford Biomedica -6.6 Vectura Group 0.0 Ergomed 0.0 Indivior -50.0 0 0.5 1 1.5 2 2.5 3 3.5 4 0 20 40 60 80 100 120 -60 -40 -20 0 20 40 60

ROE vs. PB — sector Du Pont Analysis

25 2 25

1.5 20 20 INDV

1 15

15 PB

ERGOAZN 0.5 10 10 OXB DPH Pharmaceuticals GNS 0 5

5 GSK HIK -0.5 0 PRTC VEC ‖ ‖ 2017 2018 2019 2020 2021 0 0 5 10 15 20 25 30 35 40 45 50 Net Margin Asset Turnover Gearing ROE (rhs) ‖ ROE Note: bar chart reflects the top and bottom five current values for the valuation ratio in question for FTSE All Shares stocks in the same sector as the stock concerned. All valuation metrics are trailing.

3 of 4 FTSE COMPANY REPORT: Ergomed 10 August 2021

Brief description Brief description

Price to Earnings Price to Earnings (PE) is price over earnings per share. Earnings are based on the latest Gearing Gearing is Total Assets divided by Common Equity. Total Assets and Common Equity are (PE) available fiscal year earnings. each averaged over two years, that is, t and (t-1). Price to Sales (PS) Price to Sales (PS) is price divided by sales per share. It is based on sales from continuing Asset Turnover Asset turnover is Sales divided by Total Assets. Total Assets is averaged over two years, operations for the fiscal year. that is, t and (t-1). Price to Book (PB) Price to Book (PB) is price at the indicated date divided by common equity per share. Dupont Breakdown Return on Equity (RoE) = Net Margin * Gearing * Asset Turnover Common/ordinary equity is generally as reported at the most recent fiscal year-end but is Analysis adjusted to exclude minority interest, preferred stock and selected items as appropriate. RoE vs PB Plot of RoE versus PB at last month end for all FTSE UK All Share stocks in the sector Price to Cash Flow Price to Cash Flow (PCF) is price at the indicated date divided by cash flow per share. relative to the stock in question. Data may be limited to the stock in question if there are (PCF) currently no stocks in the corresponding FTSE UK All Share sector. Net Debt Equity Net Debt Equity is Net Debt as a percentage of common equity. Not calculated if Absolute Absolute graphs reflect performance for the stock in question for up to 366 days adjusted denominator (common equity) is negative for intervening corporate actions. EV to EBITDA EV to EBITDA is Enterprise Value divided by EBITDA (Earnings before Interest and Taxes, Relative Relative charts reflect the performance for the stock in question relative to the depreciation and amortisation). EV is full company Market Capitalisation at the data date corresponding sector of the FTSE All Share Index for up to 366 days, rebased to the start plus last annual net debt and Preferred Stock. Net Debt is total financial debt less cash date. Note that the stock itself may not be a FTSE All share constituent. Relative Chart and short-term investments. EBITDA is operating income plus depreciation and may be null if there are no stocks in the corresponding FTSE UK All Share sector. amortisation. RSI Relative Strength Index. Calculated as 100 minus (100 divided by (1+ratio of positive Dividend Yield % Dividend Yield reflects the dividend declared per share and/or paid for the security in versus negative time weighted returns)). Reflects 14 day average gains/losses question for the most recent fiscal year, divided by the share price. Valuation History Outlier valuation data is not shown to scale as these would distort the chart. Instead, ∥ Return on Equity Return on Equity is net income over average common equity. Not calculated if Charts denotes valuation data which falls outside display truncation limits. (RoE) denominator (average common equity) is negative Top/Bottom Reflect data for up to five top and five bottom performers for the valuation metric in Dividend Payout Total dividends divided by Net Income expressed as a percentage. Valuation Bar question. Note data may be limited to the stock in question if there are currently no Charts stocks in the corresponding FTSE UK All Share sector. Net Margin Net Margin is Net Income divided by sales.

Ergomed 10 August 2021 For further information visit www.ftse.com, email [email protected] or call your local FTSE office:

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