SIFI Group SIFI Group SIFI Group SIFI Group SIFI Group SIFI Group SIFI Group SIFI Group PresentationPresentationPresentationPresentationPresentationPresentationPresentationPresentation

SIFI aims SIFI aims SIFI aims SIFI aims SIFI aims SIFI aims SIFI aims SIFI aims at becoming an international at becoming an international at becoming an international at becoming an international at becoming an international at becoming an international at becoming an international at becoming an international EyeCareEyeCareEyeCareEyeCareEyeCareEyeCareEyeCareEyeCare company company company company company company company company

Mission

SIFI aims SIFI aims SIFI aims SIFI aims SIFI aims SIFI aims SIFI aims SIFI aims at becoming an international at becoming an international at becoming an international at becoming an international at becoming an international at becoming an international at becoming an international at becoming an international EyeCareEyeCareEyeCareEyeCareEyeCareEyeCareEyeCareEyeCare company company company company company company company company

enabling enabling enabling enabling enabling enabling enabling enabling practitioners to manage a wide range of practitioners to manage a wide range of practitioners to manage a wide range of practitioners to manage a wide range of practitioners to manage a wide range of practitioners to manage a wide range of practitioners to manage a wide range of practitioners to manage a wide range of

ophthalmic diseases ophthalmic diseases ophthalmic diseases ophthalmic diseases ophthalmic diseases ophthalmic diseases ophthalmic diseases ophthalmic diseases , from prevention through diagnosis, , from prevention through diagnosis, , from prevention through diagnosis, , from prevention through diagnosis, , from prevention through diagnosis, , from prevention through diagnosis, , from prevention through diagnosis, , from prevention through diagnosis,

pharmacological and /or surgical treatment, pharmacological and /or surgical treatment, pharmacological and /or surgical treatment, pharmacological and /or surgical treatment, pharmacological and /or surgical treatment, pharmacological and /or surgical treatment, pharmacological and /or surgical treatment, pharmacological and /or surgical treatment,

including rehabilitation.including rehabilitation.including rehabilitation.including rehabilitation.including rehabilitation.including rehabilitation.including rehabilitation.including rehabilitation.including rehabilitation.including rehabilitation.including rehabilitation.including rehabilitation.including rehabilitation.including rehabilitation.including rehabilitation.including rehabilitation.

SIFI GroupSIFI GroupSIFI GroupSIFI GroupSIFI GroupSIFI GroupSIFI GroupSIFI Group

Pharma BusinessPharma Business

SIFI SpASIFI SpASIFI SpASIFI SpA

Eyelab SrlEyelab SrlEyelab SrlEyelab SrlOftafarmaOftafarmaOftafarmaOftafarma

Romania SrlRomania SrlRomania SrlRomania Srl

LaboratoriosLaboratoriosLaboratoriosLaboratorios SIFI SIFI SIFI SIFI de Mexico S.A. de Mexico S.A. de Mexico S.A. de Mexico S.A.

de de de de C.V.C.V.C.V.C.V.

SIFI SIFI SIFI SIFI MedtechMedtechMedtechMedtech SrlSrlSrlSrl

SIFI SIFI SIFI SIFI RealRealRealReal Estate SrlEstate SrlEstate SrlEstate Srl

de de de de C.V.C.V.C.V.C.V.

OrganisationOrganisationOrganisationOrganisationOrganisationOrganisationOrganisationOrganisation

GeneralGeneralGeneralGeneral ManagerManagerManagerManager

QualityQualityQualityQuality AssuranceAssuranceAssuranceAssurancePlanning, Planning, Planning, Planning, ControlControlControlControl & & & &

OrganisationOrganisationOrganisationOrganisation

Finance & Finance & Finance & Finance & AdministrationAdministrationAdministrationAdministration PurchasingPurchasingPurchasingPurchasing OfficeOfficeOfficeOffice

Business & Portfolio Business & Portfolio Business & Portfolio Business & Portfolio DevelopmentDevelopmentDevelopmentDevelopment

Manufacturing Manufacturing Manufacturing Manufacturing OperationsOperationsOperationsOperations(QP)(QP)(QP)(QP)

Market AccessMarket AccessMarket AccessMarket Access

From a domestic From a domestic From a domestic From a domestic From a domestic From a domestic From a domestic From a domestic leader …leader …leader …leader …leader …leader …leader …leader …

BrandBrandBrandBrandBrandBrandBrandBrand positioningpositioningpositioningpositioningpositioningpositioningpositioningpositioning

Strong company brand Strong company brand Strong company brand Strong company brand Strong company brand Strong company brand Strong company brand Strong company brand image:image:image:image:image:image:image:image:

� Almost 80 years Almost 80 years Almost 80 years Almost 80 years of history and of history and of history and of history and

excellence excellence excellence excellence

� Broad product portfolio that meets Broad product portfolio that meets Broad product portfolio that meets Broad product portfolio that meets

most ophthalmologists needsmost ophthalmologists needsmost ophthalmologists needsmost ophthalmologists needs

� High level of serviceHigh level of serviceHigh level of serviceHigh level of service

� Top class educational programsTop class educational programsTop class educational programsTop class educational programs

Independent Independent Independent Independent Independent Independent Independent Independent mmmmmmmmarket research arket research arket research arket research arket research arket research arket research arket research

confirms confirms confirms confirms confirms confirms confirms confirms (*)(*)(*)(*)(*)(*)(*)(*)::::::::

� ‘most ‘most ‘most ‘most Trusted Brand in Trusted Brand in Trusted Brand in Trusted Brand in Italy’Italy’Italy’Italy’

� ‘ideal ‘ideal ‘ideal ‘ideal ophthalmic ophthalmic ophthalmic ophthalmic company’company’company’company’

� ‘... ‘... ‘... ‘... that best meets their that best meets their that best meets their that best meets their needs’needs’needs’needs’

� ‘best ‘best ‘best ‘best quality of product quality of product quality of product quality of product detailing’detailing’detailing’detailing’

� ‘best ‘best ‘best ‘best trained trained trained trained Reps’Reps’Reps’Reps’

“New vision” “New vision” “New vision” “New vision”

since since since since 2005200520052005

… to a global integrated … to a global integrated … to a global integrated … to a global integrated … to a global integrated … to a global integrated … to a global integrated … to a global integrated Eye Eye Eye Eye Eye Eye Eye Eye Care Care Care Care Care Care Care Care companycompanycompanycompanycompanycompanycompanycompany

� Top class educational programsTop class educational programsTop class educational programsTop class educational programs

(*) IMS Oftaclient survey 2007/2011/2012

Focus on OphthalmologyFocus on OphthalmologyFocus on OphthalmologyFocus on OphthalmologyFocus on OphthalmologyFocus on OphthalmologyFocus on OphthalmologyFocus on Ophthalmology

DistinctiveDistinctiveDistinctiveDistinctiveDistinctiveDistinctiveDistinctiveDistinctive featuresfeaturesfeaturesfeaturesfeaturesfeaturesfeaturesfeatures

Integrated Integrated Integrated Integrated Integrated Integrated Integrated Integrated business modelbusiness modelbusiness modelbusiness modelbusiness modelbusiness modelbusiness modelbusiness model

Product portfolio strategy based on Product portfolio strategy based on Product portfolio strategy based on Product portfolio strategy based on Product portfolio strategy based on Product portfolio strategy based on Product portfolio strategy based on Product portfolio strategy based on

““““““““Open InnovationOpen InnovationOpen InnovationOpen InnovationOpen InnovationOpen InnovationOpen InnovationOpen Innovation””””””””

Strong Pharma Strong Pharma Strong Pharma Strong Pharma Strong Pharma Strong Pharma Strong Pharma Strong Pharma businessbusinessbusinessbusinessbusinessbusinessbusinessbusinessStrong Pharma Strong Pharma Strong Pharma Strong Pharma Strong Pharma Strong Pharma Strong Pharma Strong Pharma businessbusinessbusinessbusinessbusinessbusinessbusinessbusiness

Medical Technologies business Medical Technologies business Medical Technologies business Medical Technologies business Medical Technologies business Medical Technologies business Medical Technologies business Medical Technologies business

set set set set set set set set for growthfor growthfor growthfor growthfor growthfor growthfor growthfor growth

SIFI SpASIFI SpASIFI SpASIFI SpASIFI SpASIFI SpASIFI SpASIFI SpA SIFI MEDTECH SrlSIFI MEDTECH SrlSIFI MEDTECH SrlSIFI MEDTECH SrlSIFI MEDTECH SrlSIFI MEDTECH SrlSIFI MEDTECH SrlSIFI MEDTECH Srl

Scope Scope Scope Scope Scope Scope Scope Scope ofofofofofofofof businessbusinessbusinessbusinessbusinessbusinessbusinessbusiness

Development,Development,Development,Development,

Manufacturing,Manufacturing,Manufacturing,Manufacturing,

M&SM&SM&SM&S of:of:of:of:

Development,Development,Development,Development,

M&SM&SM&SM&S ofofofof::::

Development,Development,Development,Development,

RegistrationRegistrationRegistrationRegistration,,,,

Manufacturing,Manufacturing,Manufacturing,Manufacturing,

M&SM&SM&SM&S ofofofof::::

Development,Development,Development,Development,

M&SM&SM&SM&S of:of:of:of:

RxRxRxRx, OTC,, OTC,, OTC,, OTC,

MedicalMedicalMedicalMedical

DevicesDevicesDevicesDevices

(CE Mark)(CE Mark)(CE Mark)(CE Mark)

NutraceuticalNutraceuticalNutraceuticalNutraceutical,,,,

CosmeceuticalsCosmeceuticalsCosmeceuticalsCosmeceuticals

IntraIntraIntraIntra----OcularOcularOcularOcular

LensesLensesLensesLenses ((((IOLsIOLsIOLsIOLs))))

& & & &

DiagnosticDiagnosticDiagnosticDiagnostic

EquipmentEquipmentEquipmentEquipment

DisposablesDisposablesDisposablesDisposables,,,,

MedicalMedicalMedicalMedical

DevicesDevicesDevicesDevices

� 50+ 50+ 50+ 50+ pharmaceuticalpharmaceuticalpharmaceuticalpharmaceutical formsformsformsforms

� ProprietaryProprietaryProprietaryProprietary and and and and inininin----licensedlicensedlicensedlicensed productsproductsproductsproducts

� BFS manufacturing BFS manufacturing BFS manufacturing BFS manufacturing capabilitycapabilitycapabilitycapability

� Focus on Focus on Focus on Focus on CataractCataractCataractCataract and and and and VisualVisualVisualVisual

AbilitiesAbilitiesAbilitiesAbilities measurementsmeasurementsmeasurementsmeasurements

� ProprietaryProprietaryProprietaryProprietary IOLsIOLsIOLsIOLs and and and and diagnosticdiagnosticdiagnosticdiagnostic

Product Product Product Product Product Product Product Product offeringofferingofferingofferingofferingofferingofferingoffering

SIFISIFISIFISIFISIFISIFISIFISIFIMedtechMedtechMedtechMedtechMedtechMedtechMedtechMedtech

SrlSrlSrlSrlSrlSrlSrlSrl

IOLsIOLsIOLsIOLs

OVDsOVDsOVDsOVDsVisionVisionVisionVision

testerstesterstesterstesters

Combinations Combinations Combinations Combinations

AntiAntiAntiAnti----InfectivesInfectivesInfectivesInfectives

+ Steroids+ Steroids+ Steroids+ SteroidsTear Tear Tear Tear

supplements & supplements & supplements & supplements &

wound wound wound wound healinghealinghealinghealing

AntiAntiAntiAnti----

NutraceuticalsNutraceuticalsNutraceuticalsNutraceuticals &&&&

NeuroprotectorsNeuroprotectorsNeuroprotectorsNeuroprotectors

SIFI SIFI SIFI SIFI SIFI SIFI SIFI SIFI SpASpASpASpASpASpASpASpA

� BFS manufacturing BFS manufacturing BFS manufacturing BFS manufacturing capabilitycapabilitycapabilitycapability

� TollTollTollToll Manufacturing Manufacturing Manufacturing Manufacturing

� ProprietaryProprietaryProprietaryProprietary IOLsIOLsIOLsIOLs and and and and diagnosticdiagnosticdiagnosticdiagnostic

equipmentequipmentequipmentequipment, , , , inininin----licensedlicensedlicensedlicensed disposablesdisposablesdisposablesdisposables

� StateStateStateState----ofofofof----thethethethe----ArtArtArtArt manufacturing manufacturing manufacturing manufacturing plantplantplantplant

Imaging Imaging Imaging Imaging

diagnosticsdiagnosticsdiagnosticsdiagnostics

SrlSrlSrlSrlSrlSrlSrlSrl

CataractCataractCataractCataract

disposablesdisposablesdisposablesdisposables

AntiallergicsAntiallergicsAntiallergicsAntiallergicsAntiAntiAntiAnti----

InfectivesInfectivesInfectivesInfectives

AntiAntiAntiAnti----

GlaucomaGlaucomaGlaucomaGlaucomaNSAIDsNSAIDsNSAIDsNSAIDs

SIFI SIFI SIFI SIFI SIFI SIFI SIFI SIFI SpASpASpASpASpASpASpASpA

CorticosteroidsCorticosteroidsCorticosteroidsCorticosteroids

�SIFI SIFI SIFI SIFI is a leader in Italy, the is a leader in Italy, the is a leader in Italy, the is a leader in Italy, the world’s 5world’s 5world’s 5world’s 5th th th th

largest largest largest largest ophthalmic marketophthalmic marketophthalmic marketophthalmic market

Global market Global market Global market Global market Global market Global market Global market Global market coveragecoveragecoveragecoveragecoveragecoveragecoveragecoverage

largest largest largest largest ophthalmic marketophthalmic marketophthalmic marketophthalmic market

�The Group of companies employs The Group of companies employs The Group of companies employs The Group of companies employs a a a a staff of staff of staff of staff of staff of staff of staff of staff of

about 350about 350about 350about 350about 350about 350about 350about 350 and generates and generates and generates and generates turnover from turnover from turnover from turnover from

domestic sales and international Pharma domestic sales and international Pharma domestic sales and international Pharma domestic sales and international Pharma

marketsmarketsmarketsmarkets

�The Group HQ is located 20 km from The Group HQ is located 20 km from The Group HQ is located 20 km from The Group HQ is located 20 km from

Catania, Italy, where Catania, Italy, where Catania, Italy, where Catania, Italy, where R&D and R&D and R&D and R&D and R&D and R&D and R&D and R&D and

HQ/Production siteHQ/Production siteHQ/Production siteHQ/Production site SubsidiarySubsidiarySubsidiarySubsidiary Distributors/PartnersDistributors/PartnersDistributors/PartnersDistributors/Partners

Catania, Italy, where Catania, Italy, where Catania, Italy, where Catania, Italy, where R&D and R&D and R&D and R&D and R&D and R&D and R&D and R&D and

manufacturing facilities for Pharmaceuticals manufacturing facilities for Pharmaceuticals manufacturing facilities for Pharmaceuticals manufacturing facilities for Pharmaceuticals manufacturing facilities for Pharmaceuticals manufacturing facilities for Pharmaceuticals manufacturing facilities for Pharmaceuticals manufacturing facilities for Pharmaceuticals

and Medical Technologies are locatedand Medical Technologies are locatedand Medical Technologies are locatedand Medical Technologies are locatedand Medical Technologies are locatedand Medical Technologies are locatedand Medical Technologies are locatedand Medical Technologies are located

Group Group Group Group HQHQHQHQ

� SIFISIFISIFISIFI holdsholdsholdsholds aaaa marketmarketmarketmarketmarketmarketmarketmarket shareshareshareshareshareshareshareshare ofofofofofofofof cacacacacacacaca........ 88888888%%%%%%%% ofofofof thethethethe ItalianItalianItalianItalianItalianItalianItalianItalian ophthalmicophthalmicophthalmicophthalmicophthalmicophthalmicophthalmicophthalmic marketmarketmarketmarketmarketmarketmarketmarket,,,, inininin 3333rdrdrdrd

positionpositionpositionposition afterafterafterafter AlconAlconAlconAlcon andandandand AllerganAllerganAllerganAllergan

Leader in Italy, Leader in Italy, Leader in Italy, Leader in Italy, Leader in Italy, Leader in Italy, Leader in Italy, Leader in Italy, expandingexpandingexpandingexpandingexpandingexpandingexpandingexpanding abroadabroadabroadabroadabroadabroadabroadabroad

� SIFISIFISIFISIFI PharmaPharmaPharmaPharma currentlycurrentlycurrentlycurrently distributesdistributesdistributesdistributes itsitsitsits pharmaceuticalspharmaceuticalspharmaceuticalspharmaceuticals inininin internationalinternationalinternationalinternational marketsmarketsmarketsmarkets andandandand

hashashashas aaaaaaaa directdirectdirectdirectdirectdirectdirectdirect salessalessalessalessalessalessalessales presencepresencepresencepresencepresencepresencepresencepresence inininininininin MexicoMexicoMexicoMexicoMexicoMexicoMexicoMexico andandandandandandandand RomaniaRomaniaRomaniaRomaniaRomaniaRomaniaRomaniaRomania::::::::

� RoughlyRoughlyRoughlyRoughly 85858585%%%% ofofofof SIFISIFISIFISIFI Pharma’sPharma’sPharma’sPharma’s revenuesrevenuesrevenuesrevenues areareareare concentratedconcentratedconcentratedconcentrated inininin thethethethe TopTopTopTopTopTopTopTop 55555555 EUEUEUEUEUEUEUEU regionregionregionregionregionregionregionregion,,,,ItalyItalyItalyItaly takingtakingtakingtaking thethethethe largestlargestlargestlargest shareshareshareshare;;;;

� TheTheTheThe remainderremainderremainderremainder originatesoriginatesoriginatesoriginates fromfromfromfrom emergingemergingemergingemergingemergingemergingemergingemerging marketsmarketsmarketsmarketsmarketsmarketsmarketsmarkets (Mexico,(Mexico,(Mexico,(Mexico,(Mexico,(Mexico,(Mexico,(Mexico, RussiaRussiaRussiaRussiaRussiaRussiaRussiaRussia andandandandandandandand Turkey)Turkey)Turkey)Turkey)Turkey)Turkey)Turkey)Turkey) andandandandEastEastEastEast EuropeEuropeEuropeEurope (Romania)(Romania)(Romania)(Romania);;;;

GoingGoingGoingGoing forward,forward,forward,forward, growthgrowthgrowthgrowth willwillwillwill bebebebe ledledledled bybybyby aaaa markedmarkedmarkedmarked internationalinternationalinternationalinternationalinternationalinternationalinternationalinternational expansionexpansionexpansionexpansionexpansionexpansionexpansionexpansion inininin� GoingGoingGoingGoing forward,forward,forward,forward, growthgrowthgrowthgrowth willwillwillwill bebebebe ledledledled bybybyby aaaa markedmarkedmarkedmarked internationalinternationalinternationalinternationalinternationalinternationalinternationalinternational expansionexpansionexpansionexpansionexpansionexpansionexpansionexpansion inininin

selectedselectedselectedselected marketsmarketsmarketsmarkets whilewhilewhilewhile consolidatingconsolidatingconsolidatingconsolidating thethethethe domesticdomesticdomesticdomesticdomesticdomesticdomesticdomestic leadershipleadershipleadershipleadershipleadershipleadershipleadershipleadership positionpositionpositionposition

MultiMultiMultiMulti----channel strategy for optimum product portfolio managementchannel strategy for optimum product portfolio managementchannel strategy for optimum product portfolio managementchannel strategy for optimum product portfolio management

� SIFI Sales Force details Cluster 1Cluster 1 products to Ophthalmologists

� Eyelab Reps detail Cluster 2 Cluster 2 products to Ophthalmologists (+ paediatricians and GPs)

DomesticDomesticDomesticDomesticDomesticDomesticDomesticDomestic salessalessalessalessalessalessalessales coveragecoveragecoveragecoveragecoveragecoveragecoveragecoverage

� Eyelab Reps detail Cluster 2 Cluster 2 products to Ophthalmologists (+ paediatricians and GPs)

Rx, OTC, Medical Devices, Rx, OTC, Medical Devices, Rx, OTC, Medical Devices, Rx, OTC, Medical Devices, Rx, OTC, Medical Devices, Rx, OTC, Medical Devices, Rx, OTC, Medical Devices, Rx, OTC, Medical Devices, NutraceuticalsNutraceuticalsNutraceuticalsNutraceuticalsNutraceuticalsNutraceuticalsNutraceuticalsNutraceuticals

Detailing to 7,500Detailing to 7,500Detailing to 7,500Detailing to 7,500OphtalmologistsOphtalmologistsOphtalmologistsOphtalmologists

SIFI SIFI SIFI SIFI SIFI SIFI SIFI SIFI EyelabEyelabEyelabEyelabEyelabEyelabEyelabEyelab

Direct sale toDirect sale toDirect sale toDirect sale toselected pharmaciesselected pharmaciesselected pharmaciesselected pharmacies

SIFI SIFI SIFI SIFI SIFI SIFI SIFI SIFI Sales forceSales forceSales forceSales force

36 reps + 6 AMs36 reps + 6 AMs36 reps + 6 AMs36 reps + 6 AMs

EyelabEyelabEyelabEyelabEyelabEyelabEyelabEyelabSales forceSales forceSales forceSales force

20 reps + 3 AMs20 reps + 3 AMs20 reps + 3 AMs20 reps + 3 AMs

through Pharmacy specialist through Pharmacy specialist through Pharmacy specialist through Pharmacy specialist through Pharmacy specialist through Pharmacy specialist through Pharmacy specialist through Pharmacy specialist

partner (by 2015)partner (by 2015)partner (by 2015)partner (by 2015)

Global Global Global Global Global Global Global Global growthgrowthgrowthgrowthgrowthgrowthgrowthgrowth strategystrategystrategystrategystrategystrategystrategystrategy

International International International International International International International International marketsmarketsmarketsmarketsmarketsmarketsmarketsmarkets

EmergingEmergingEmergingEmergingEmergingEmergingEmergingEmerging marketsmarketsmarketsmarketsmarketsmarketsmarketsmarkets

Romania, Mexico, Romania, Mexico, Romania, Mexico, Romania, Mexico, Russia, Russia, Russia, Russia, TurkeyTurkeyTurkeyTurkey, China , China , China , China

DirectDirect subsidiarysubsidiary onlyonly forforRomania and Mexico; Romania and Mexico; locallocalpartner/partner/distributordistributor forfor otherother

Mature Mature Mature Mature Mature Mature Mature Mature marketsmarketsmarketsmarketsmarketsmarketsmarketsmarkets

SpainSpainSpainSpain, UK , UK , UK , UK ((locallocal distributordistributor/partner)/partner)

OtherOtherOtherOther EU EU EU EU marketsmarketsmarketsmarkets((distributorsdistributors currentlycurrently in in

Global Global Global Global Global Global Global Global agreementsagreementsagreementsagreementsagreementsagreementsagreementsagreements

OutOutOutOut----licensing licensing licensing licensing

CollaborationCollaboration agreementsagreementswithwith global global partnerspartners on on addedadded valuevalue proprietaryproprietaryassetsassets (i.e. antinfective-

Romania and Mexico; Romania and Mexico; locallocalpartner/partner/distributordistributor forfor otherother

countriescountries

((distributorsdistributors currentlycurrently in in evaluationevaluation)) assetsassets (i.e. antinfective-

antinflammatorycombination)

InInInInInInInIn--------LicensingLicensingLicensingLicensingLicensingLicensingLicensingLicensing

Leveraging SIFI’s core strengths to attract opportunities:Leveraging SIFI’s core strengths to attract opportunities:Leveraging SIFI’s core strengths to attract opportunities:Leveraging SIFI’s core strengths to attract opportunities:

� a track record of collaborative relationshipsa track record of collaborative relationshipsa track record of collaborative relationshipsa track record of collaborative relationships

PartnershipsPartnershipsPartnershipsPartnershipsPartnershipsPartnershipsPartnershipsPartnerships

China China China China

Romania, Romania, Romania, Romania, MexicoMexicoMexicoMexico

� a track record of collaborative relationshipsa track record of collaborative relationshipsa track record of collaborative relationshipsa track record of collaborative relationships

� ppppositionedositionedositionedositioned as midas midas midas mid----sized, specialist partner with core R&D and sized, specialist partner with core R&D and sized, specialist partner with core R&D and sized, specialist partner with core R&D and

M&S competencesM&S competencesM&S competencesM&S competences

SpainSpainSpainSpain(Angelini)(Angelini)(Angelini)(Angelini)

UK (UK (UK (UK (MoorfieldsMoorfieldsMoorfieldsMoorfields))))

China China China China (COP) (COP) (COP) (COP)

TurkeyTurkeyTurkeyTurkey((((TekaTekaTekaTeka)))) China Otsuka Pharmaceutical Co., LtdChina Otsuka Pharmaceutical Co., Ltd

R&DR&DR&DR&DR&DR&DR&DR&D -------- activitiesactivitiesactivitiesactivitiesactivitiesactivitiesactivitiesactivities

•LineLineLineLine extensionsextensionsextensionsextensions

•New New New New drugdrugdrugdrug delivery delivery delivery delivery systemssystemssystemssystems

• OphthaOphthaOphthaOphtha ––––formulationsformulationsformulationsformulations

•ProprietaryProprietaryProprietaryProprietary dossiersdossiersdossiersdossiers’ ’ ’ ’ update/upgrade update/upgrade update/upgrade update/upgrade totototocontinuouslycontinuouslycontinuouslycontinuously meetmeetmeetmeet GMP GMP GMP GMP standardsstandardsstandardsstandards

•RetinalRetinalRetinalRetinal degenerationdegenerationdegenerationdegeneration & & & & GlaucomaGlaucomaGlaucomaGlaucoma

•InfectionInfectionInfectionInfection

• OphthaOphthaOphthaOphtha ––––formulationsformulationsformulationsformulationsdevelopmentdevelopmentdevelopmentdevelopment

standardsstandardsstandardsstandards

RegulatoryRegulatoryRegulatoryRegulatoryRegulatoryRegulatoryRegulatoryRegulatorycompliancecompliancecompliancecompliancecompliancecompliancecompliancecompliance

IncrementalIncrementalIncrementalIncrementalIncrementalIncrementalIncrementalIncrementalinnovationinnovationinnovationinnovationinnovationinnovationinnovationinnovation

Back Back Back Back Back Back Back Back ofofofofofofofofthe the the the the the the the EyeEyeEyeEyeEyeEyeEyeEye

AnteriorAnteriorAnteriorAnteriorAnteriorAnteriorAnteriorAnterior

SegmentofSegmentofSegmentofSegmentofSegmentofSegmentofSegmentofSegmentof

the the the the the the the the EyeEyeEyeEyeEyeEyeEyeEye GlaucomaGlaucomaGlaucomaGlaucoma

•Public Public Public Public fundedfundedfundedfunded projectsprojectsprojectsprojects(Italy/EU)(Italy/EU)(Italy/EU)(Italy/EU)

•R&DR&DR&DR&D partnershipspartnershipspartnershipspartnerships

•InflammationInflammationInflammationInflammation

•Dry Dry Dry Dry EyeEyeEyeEye////OcularOcularOcularOcular surfacesurfacesurfacesurface

•WoundWoundWoundWound healinghealinghealinghealing

the the the the the the the the EyeEyeEyeEyeEyeEyeEyeEye

R&DR&DR&DR&DR&DR&DR&DR&D -------- open open open open open open open open innovationinnovationinnovationinnovationinnovationinnovationinnovationinnovation

�� WideWideWideWideWideWideWideWide IPIPIPIPIPIPIPIP acrossacrossacrossacrossacrossacrossacrossacross allallallallallallallall businessbusinessbusinessbusinessbusinessbusinessbusinessbusiness segmentssegmentssegmentssegmentssegmentssegmentssegmentssegments

StrongStrongStrongStrong teamsteamsteamsteams ofofofof SIFISIFISIFISIFI researchersresearchersresearchersresearchers generatedgeneratedgeneratedgenerated inininin thethethethe lastlastlastlast 3333 yearsyearsyearsyears 6060606060606060 patentspatentspatentspatents andandandand patentpatentpatentpatent applicationsapplicationsapplicationsapplications::::

2020202020202020 inininin PharmaPharmaPharmaPharma eeee 4040404040404040 inininin MedtechMedtechMedtechMedtech2020202020202020 inininin PharmaPharmaPharmaPharma eeee 4040404040404040 inininin MedtechMedtechMedtechMedtech

�� OpenOpenOpenOpenOpenOpenOpenOpen InnovationInnovationInnovationInnovationInnovationInnovationInnovationInnovation

CurrentlyCurrentlyCurrentlyCurrently 2222 majormajormajormajor collaborativecollaborativecollaborativecollaborative R&DR&DR&DR&D projectsprojectsprojectsprojects::::

ODAKODAKODAKODAKODAKODAKODAKODAK:::: preclinicalpreclinicalpreclinicalpreclinical andandandand clinicalclinicalclinicalclinical researchresearchresearchresearch ofofofof thethethethe OrphanOrphanOrphanOrphan DrugDrugDrugDrug PolihexanidePolihexanidePolihexanidePolihexanide (PHMB)(PHMB)(PHMB)(PHMB) totototo treattreattreattreat

AcanthamoebaAcanthamoebaAcanthamoebaAcanthamoeba keratitiskeratitiskeratitiskeratitis (AK)(AK)(AK)(AK).... FundedFundedFundedFunded underunderunderunder aaaa EuropeanEuropeanEuropeanEuropean (FP(FP(FP(FP7777)))) Grant,Grant,Grant,Grant, itititit involvesinvolvesinvolvesinvolves anananan internationalinternationalinternationalinternational

consortiumconsortiumconsortiumconsortium ofofofof partners,partners,partners,partners, includingincludingincludingincluding thethethethe MoorfieldsMoorfieldsMoorfieldsMoorfields PharmaceuticalPharmaceuticalPharmaceuticalPharmaceutical (UK)(UK)(UK)(UK) andandandand thethethethe UniversityUniversityUniversityUniversity ofofofof

RouenRouenRouenRouen (FR),(FR),(FR),(FR), forforforfor aaaa totaltotaltotaltotal budgetbudgetbudgetbudget ofofofof €€€€ 5555....5555mmmm

HippocratesHippocratesHippocratesHippocratesHippocratesHippocratesHippocratesHippocrates:::: developmentdevelopmentdevelopmentdevelopment ofofofof biosensorsbiosensorsbiosensorsbiosensors,,,, drugdrugdrugdrug deliverydeliverydeliverydelivery carrierscarrierscarrierscarriers andandandand medicalmedicalmedicalmedical ICTICTICTICT solutionssolutionssolutionssolutions,,,, basedbasedbasedbased

onononon micromicromicromicro andandandand nanonanonanonano technologiestechnologiestechnologiestechnologies.... FundedFundedFundedFunded underunderunderunder aaaa nationalnationalnationalnational grantgrantgrantgrant (MIUR),(MIUR),(MIUR),(MIUR), itititit involvesinvolvesinvolvesinvolves aaaa SicilianSicilianSicilianSicilian

TechnologicalTechnologicalTechnologicalTechnological ClusterClusterClusterCluster (Distretto(Distretto(Distretto(Distretto TecnologicoTecnologicoTecnologicoTecnologico SiciliaSiciliaSiciliaSicilia MicroMicroMicroMicro eeee NanoNanoNanoNano Sistemi),Sistemi),Sistemi),Sistemi), includingincludingincludingincluding partnerspartnerspartnerspartners suchsuchsuchsuch

asasasas STMicroelectronicsSTMicroelectronicsSTMicroelectronicsSTMicroelectronics,,,, ItaltelItaltelItaltelItaltel andandandand ISMETT,ISMETT,ISMETT,ISMETT, forforforfor aaaa totaltotaltotaltotal budgetbudgetbudgetbudget ofofofof €€€€ 22222222mmmm

R&DR&DR&DR&DR&DR&DR&DR&D

The ODAK The ODAK The ODAK The ODAK europeaneuropeaneuropeaneuropean consortiumconsortiumconsortiumconsortium

For more info visit www.odak-project.eu

R&DR&DR&DR&DR&DR&DR&DR&D

For more info visitwww.hippocrates-project.org/EN/

PipelinePipelinePipelinePipelinePipelinePipelinePipelinePipeline

Project Project Project Project

CodeCodeCodeCode

TherapeuticTherapeuticTherapeuticTherapeutic indicationindicationindicationindication / / / / intendedintendedintendedintended useuseuseuse RegulatoryRegulatoryRegulatoryRegulatory Status Status Status Status Development stageDevelopment stageDevelopment stageDevelopment stage ExpectedExpectedExpectedExpected

launchlaunchlaunchlaunch

XNTXNTXNTXNTXNTXNTXNTXNT MildMildMildMild totototo moderate Dry moderate Dry moderate Dry moderate Dry EyeEyeEyeEye, , , , associatedassociatedassociatedassociated withwithwithwith ocularocularocularocular

surfacesurfacesurfacesurface oxidativeoxidativeoxidativeoxidative stressstressstressstress....

MedicalMedicalMedicalMedical DeviceDeviceDeviceDevice LaunchLaunchLaunchLaunch Q2Q2Q2Q2----2014201420142014

MDGMDGMDGMDGMDGMDGMDGMDG Sterile Sterile Sterile Sterile medicalmedicalmedicalmedical devicedevicedevicedevice gauzesgauzesgauzesgauzes withwithwithwith 3 3 3 3 differentdifferentdifferentdifferent

presentationspresentationspresentationspresentations aimedaimedaimedaimed at at at at cleansingcleansingcleansingcleansing, , , , moisturizingmoisturizingmoisturizingmoisturizing and and and and

sanitizingsanitizingsanitizingsanitizing the the the the periocularperiocularperiocularperiocular areaareaareaarea

MedicalMedicalMedicalMedical DeviceDeviceDeviceDevice IndustrialisationIndustrialisationIndustrialisationIndustrialisation Q4Q4Q4Q4----2014201420142014

AVSAVSAVSAVSAVSAVSAVSAVS NutraceuticalNutraceuticalNutraceuticalNutraceutical addressedaddressedaddressedaddressed totototo supportsupportsupportsupport patientspatientspatientspatients withwithwithwith retinalretinalretinalretinal

degenerationdegenerationdegenerationdegeneration pathologiespathologiespathologiespathologies....

NutraceuticalNutraceuticalNutraceuticalNutraceutical IndustrialisationIndustrialisationIndustrialisationIndustrialisation Q3Q3Q3Q3----2014201420142014

MyCMyCMyCMyCMyCMyCMyCMyC NutraceuticalNutraceuticalNutraceuticalNutraceutical addressedaddressedaddressedaddressed totototo supportsupportsupportsupport patientspatientspatientspatients withwithwithwith

MyopiaMyopiaMyopiaMyopia at at at at differentdifferentdifferentdifferent stage stage stage stage ofofofof progressionprogressionprogressionprogression....

NutraceuticalNutraceuticalNutraceuticalNutraceutical IndustrialisationIndustrialisationIndustrialisationIndustrialisation Q1Q1Q1Q1----2015201520152015

DRLsDRLsDRLsDRLsDRLsDRLsDRLsDRLs NutraceuticalNutraceuticalNutraceuticalNutraceutical addressedaddressedaddressedaddressed totototo supportsupportsupportsupport patientspatientspatientspatients withwithwithwith

DiabeticDiabeticDiabeticDiabetic RetinopathyRetinopathyRetinopathyRetinopathy at at at at specificspecificspecificspecific stage stage stage stage ofofofof progressionprogressionprogressionprogression....

NutraceuticalNutraceuticalNutraceuticalNutraceutical FormulationFormulationFormulationFormulation

developmentdevelopmentdevelopmentdevelopment

Q4Q4Q4Q4----2015201520152015

ATSATSATSATSATSATSATSATS ModerateModerateModerateModerate totototo severe Dry severe Dry severe Dry severe Dry EyeEyeEyeEye

ControlControlControlControl ofofofof inflammationinflammationinflammationinflammation atatatat ocularocularocularocular surfacesurfacesurfacesurface levellevellevellevel....

MedicalMedicalMedicalMedical DeviceDeviceDeviceDevice

(‘(‘(‘(‘subamedsubamedsubamedsubamed’)’)’)’)

IndustrialisationIndustrialisationIndustrialisationIndustrialisation----DossierDossierDossierDossier

preparationpreparationpreparationpreparation

Q1Q1Q1Q1----2016201620162016

ControlControlControlControl ofofofof inflammationinflammationinflammationinflammation atatatat ocularocularocularocular surfacesurfacesurfacesurface levellevellevellevel.... (‘(‘(‘(‘subamedsubamedsubamedsubamed’)’)’)’) preparationpreparationpreparationpreparation

LtPFLtPFLtPFLtPFLtPFLtPFLtPFLtPF IOPIOPIOPIOP loweringloweringloweringlowering agentagentagentagent

Innovative PF Innovative PF Innovative PF Innovative PF formulationformulationformulationformulation

AddedAddedAddedAdded valurevalurevalurevalure genericgenericgenericgeneric IndustrialisationIndustrialisationIndustrialisationIndustrialisation Q2Q2Q2Q2----2016201620162016

ODAKODAKODAKODAKODAKODAKODAKODAK TreatmentTreatmentTreatmentTreatment ofofofof rare rare rare rare cornealcornealcornealcorneal infectioninfectioninfectioninfection AcanthamoebaAcanthamoebaAcanthamoebaAcanthamoeba

keratitiskeratitiskeratitiskeratitis

Orphan DrugOrphan DrugOrphan DrugOrphan Drug PreclinicalPreclinicalPreclinicalPreclinical 2018201820182018

PipelinePipelinePipelinePipelinePipelinePipelinePipelinePipeline

XNTXNTXNTXNTXNTXNTXNTXNT

2014201420142014 2015201520152015 2016201620162016 2017201720172017 2018201820182018

H1 H2 H1 H2 H1 H2 H1 H2 H1 H2

XNTXNTXNTXNTXNTXNTXNTXNT

MDGMDGMDGMDGMDGMDGMDGMDG

AVSAVSAVSAVSAVSAVSAVSAVS

MyCMyCMyCMyCMyCMyCMyCMyC

DRLsDRLsDRLsDRLsDRLsDRLsDRLsDRLs

ATSATSATSATSATSATSATSATS

LtPFLtPFLtPFLtPFLtPFLtPFLtPFLtPF

ODAKODAKODAKODAKODAKODAKODAKODAK

Key financialsKey financialsKey financialsKey financialsKey financialsKey financialsKey financialsKey financials

50,0

60,0

70,0

Sales (m Sales (m Sales (m Sales (m Sales (m Sales (m Sales (m Sales (m €€€€€€€€))))))))

-

10,0

20,0

30,0

40,0

50,0

2010 2011 2012 2013

12,0

14,0

EBITDA (m EBITDA (m EBITDA (m EBITDA (m EBITDA (m EBITDA (m EBITDA (m EBITDA (m €€€€€€€€))))))))

21%

20%

25%

EBITDA (% on net revenues)EBITDA (% on net revenues)EBITDA (% on net revenues)EBITDA (% on net revenues)EBITDA (% on net revenues)EBITDA (% on net revenues)EBITDA (% on net revenues)EBITDA (% on net revenues)

-

2,0

4,0

6,0

8,0

10,0

12,0

2010 2011 2012 2013

8%

15%16%

0%

5%

10%

15%

20%

2010 2011 2012 2013

� AAAA 76767676----yearyearyearyear longlonglonglong devotiondevotiondevotiondevotion totototo OphthalmologyOphthalmologyOphthalmologyOphthalmology

Closing remarksClosing remarksClosing remarksClosing remarksClosing remarksClosing remarksClosing remarksClosing remarks

� SolidSolidSolidSolid reputationreputationreputationreputation withinwithinwithinwithin thethethethe pharmaceutical/ophthalmicpharmaceutical/ophthalmicpharmaceutical/ophthalmicpharmaceutical/ophthalmic communitycommunitycommunitycommunity

� ExperiencedExperiencedExperiencedExperienced managementmanagementmanagementmanagement teamteamteamteam

� AAAA marketmarketmarketmarket leaderleaderleaderleader inininin ItalyItalyItalyItaly

- high-quality and comprehensive product list- specialised, long-established, full-time sales forces

CommitmentCommitmentCommitmentCommitment totototo buildingbuildingbuildingbuilding longlonglonglong----lastinglastinglastinglasting commercialcommercialcommercialcommercial andandandand developmentdevelopmentdevelopmentdevelopment alliancesalliancesalliancesalliances� CommitmentCommitmentCommitmentCommitment totototo buildingbuildingbuildingbuilding longlonglonglong----lastinglastinglastinglasting commercialcommercialcommercialcommercial andandandand developmentdevelopmentdevelopmentdevelopment alliancesalliancesalliancesalliances

� AAAA growinggrowinggrowinggrowing internationalinternationalinternationalinternational networknetworknetworknetwork (Companies(Companies(Companies(Companies andandandand ResearchResearchResearchResearch Institutions)Institutions)Institutions)Institutions)

Thank you for your attention !Thank you for your attention !Thank you for your attention !Thank you for your attention !Thank you for your attention !Thank you for your attention !Thank you for your attention !Thank you for your attention !Thank you for your attention !Thank you for your attention !Thank you for your attention !Thank you for your attention !Thank you for your attention !Thank you for your attention !Thank you for your attention !Thank you for your attention !

ForForForFor furtherfurtherfurtherfurther information information information information pleasepleasepleaseplease contactcontactcontactcontact::::

Marcello PizzulloMarcello PizzulloMarcello PizzulloMarcello PizzulloMarcello PizzulloMarcello PizzulloMarcello PizzulloMarcello Pizzullo

Head of Business and Portfolio DevelopmentHead of Business and Portfolio Development

SIFI S.p.ASIFI S.p.ASIFI S.p.ASIFI S.p.A

marcello.pizzullo@sifigroup.com

Mobile: +39 335 60 70 014Mobile: +39 335 60 70 014

Office: +39 095 79 22 227

www.sifigroup.comwww.sifigroup.com