Mabion (MAB) Company presentation summary

Company overview and strategy

• Over 17 years of experience in developing and manufacturing biological drugs, with comprehensive CDMO services and robust quality management systems certified by multiple authorities.

• Strategic transformation into a fully integrated CDMO focused on biologics, targeting small and medium-sized projects from early discovery to commercial production.

• Strong alignment with long-term biotech trends, including rising demand for biologics, especially monoclonal antibodies, and increasing outsourcing needs.

• Business development targets small and medium pharma companies in highly regulated markets, offering end-to-end services from cell line development to fill & finish.

Operational and financial performance

• Significant revenue drop in 2024 due to the end of the guaranteed period with Novavax and delayed recognition of new UK CDMO contracts.

• Maintained high gross margins and strict cost control, with OPEX discipline despite inflationary pressures and increased business development spending.

• Strong operating cash flow in the first nine months of 2024, offsetting nearly 49 million PLN in investment and financing outflows; high cash position at period end.

• Transition period between contracts reflected in Q3 2024 results, with new UK client revenues to be recognized after project milestones.

Corporate structure and shareholder information

• Listed on the Warsaw Stock Exchange main market since 2013, included in several indices such as WIG140 and SWIG80.

• Share capital consists of over 16 million shares, with a mix of ordinary and privileged shares granting two votes each; no dividend paid in the last five years as profits are retained for growth.

• Major shareholders include Twiti Investments Limited, Maciej Wieczorek, and Polfarmex S.A.; founders remain long-term investors.