West Pharmaceutical Services, Inc. (NYSE:WST) Q4 2021 Earnings Conference Call February 17, 2022 9:00 AM ET Company Participants Quintin Lai - VP-IR Eric Green - President and CEO Bernard Birkett - CFO Conference Call Participants Derik DeBruin - Bank of America Larry Solow - CJS Securities John Kreger - William Blair Jacob Johnson - Stephens Paul Knight - KeyBanc Capital Markets Dave Windley - Jefferies Operator Ladies and gentlemen thank you for standing by. And welcome to the Q4 2021 West Pharmaceutical ...

| --- | --- | --- | |-------------------------------------|-------|-------| | | | | | | | | | | | | | | | | | West Pharmaceutical Services, Inc. | | | | Eric M. Green | | | | President & CEO | | | JP Morgan Conference | January 10, 2022 Safe Harbor Statement Cautionary Statement Under the Private Securities Litigation Reform Act of 1995 This presentation and any accompanying management commentary contain "forwardlooking statements" as that term is defined in the Private Securities Litigation Reform Act of 1 ...

Third-Quarter 2021 WST Q3 2021 Earnings 1 | --- | --- | --- | |----------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------|----------| | Third Quarter Overall Net Sales $706.5M \| 28.9% | OVERALL ORGANIC SALES GROWTH Proprietary Products Q3 2021 organic sales growth of 35.7%, led by sales of high-value | Q3 27.9% | | Diluted Earnings Per Share: $2.31 \| ...

Financial Performance - Consolidated net sales for the three months ended September 30, 2021, increased by $158.5 million, or 28.9%, compared to the same period in 2020, reaching $706.5 million[93] - Proprietary Products segment net sales rose to $577.0 million, a 36.9% increase from $421.5 million in the same quarter of 2020[93] - Contract-Manufactured Products segment net sales increased by 2.4% to $129.7 million, compared to $126.6 million in the prior year[93] - Organic net sales growth for the consolidated results was 27.9%, excluding foreign currency translation effects[94] - Consolidated net sales increased by $534.1 million, or 34.1%, for the nine months ended September 30, 2021, including a favorable foreign currency translation impact of $67.2 million[96] - Consolidated gross profit increased by $318.5 million, or 57.2%, for the nine months ended September 30, 2021, with a gross profit margin increase of 6.2 percentage points[99] - Proprietary Products gross profit increased by $318.7 million, or 64.7%, for the nine months ended September 30, 2021, with a gross profit margin increase of 6.2 percentage points[101] - Consolidated gross profit margin increased to 41.7% for the nine months ended September 30, 2021, compared to 35.5% for the same period in 2020[99] - Consolidated operating profit increased by $82.2 million, or 82.9%, for the three months ended September 30, 2021, compared to the same period in 2020, with an adjusted consolidated operating profit margin of 25.9%[116] - Proprietary Products operating profit rose by $88.0 million, or 81.9%, for the three months ended September 30, 2021, driven by increased sales in high-value product offerings, including COVID-19 related activity[118] Costs and Expenses - Consolidated R&D costs increased by $0.6 million, or 4.8%, for the three months ended September 30, 2021, and by $5.1 million, or 15.0%, for the nine months ended September 30, 2021[104] - Consolidated SG&A costs increased by $15.7 million, or 20.6%, for the three months ended September 30, 2021, primarily due to increased compensation costs[106] - Proprietary Products SG&A costs increased by $35.3 million, or 24.4%, for the nine months ended September 30, 2021, driven by increased compensation costs and professional services[109] - Other consolidated expenses decreased by $4.9 million for the three months ended September 30, 2021, compared to the same period in 2020, due to reduced restructuring charges[113] - Corporate costs increased by $7.1 million, or 31.7%, for the three months ended September 30, 2021, compared to the same period in 2020[121] Cash Flow and Liquidity - Net cash provided by operating activities increased by $99.4 million for the nine months ended September 30, 2021, totaling $423.2 million, primarily due to improved operating results[133] - Cash and cash equivalents at September 30, 2021, amounted to $688.0 million, an increase from $615.5 million at December 31, 2020[136] - Working capital increased by $169.4 million, or 19.5%, as of September 30, 2021, compared to December 31, 2020, reflecting increased sales activity and inventory levels[138] - Total debt decreased by $1.1 million to $254.1 million at September 30, 2021, due to debt repayments under the Term Loan[139] - Net cash used in investing activities increased by $53.8 million for the nine months ended September 30, 2021, totaling $175.7 million, due to higher capital expenditures[134] Tax and Income - The provision for income taxes was $12.0 million for the three months ended September 30, 2021, with an effective tax rate of 6.6%, down from 21.6% in the same period of 2020[129] - Equity in net income of affiliated companies increased by $0.8 million for the three months ended September 30, 2021, due to favorable operating results at Daikyo and Mexico affiliates[131] Strategic Focus and Risks - The company operates in two reportable segments: Proprietary Products and Contract-Manufactured Products, focusing on high-quality integrated containment and delivery systems[84] - The company has ongoing collaborations to share technologies and market products with affiliates in Japan and Mexico[84] - Future performance may be impacted by uncertainties related to the COVID-19 pandemic, including employee health and supply chain stability[85] - The company emphasizes that forward-looking statements are based on management's current expectations and assumptions regarding future events and operating performance[147] - Key factors that could cause actual results to differ from expectations include sales demand, competition, and supply chain interruptions[149] - The company highlights the importance of maintaining production efficiencies and managing costs, particularly in relation to rising raw material prices[152] - There is a focus on the timely availability of filling capacity for new products, which is essential for conducting stability trials and commercialization[152] - The company acknowledges the potential impact of global healthcare legislation on customer demand and profitability[152] - The strength of the USD against other currencies, such as the Euro and Yen, is noted as a significant factor affecting financial performance[152] - The company is committed to the successful and timely implementation of price increases to offset rising production costs[152] - There is an emphasis on the need for skilled employees to meet increased production and research demands[152] - The company is aware of the risks associated with dependence on third-party suppliers for critical materials[152] - The management cautions investors against placing undue reliance on forward-looking statements due to inherent uncertainties[148]

West Pharmaceutical Services, Inc. (NYSE:WST) Q3 2021 Earnings Conference Call October 28, 2021 9:00 AM ET Company Participants Quintin Lai – Vice President-Investor Relations Eric Green – President and Chief Executive Officer Bernard Birkett – Chief Financial Officer Conference Call Participants Larry Solow – CJS Securities John Kreger – William Blair Derik DeBruin – Bank of America Paul Knight – KeyBanc Dave Windley – Jefferies Operator Good day and thank you for standing by. Welcome to the Q3 2021 West P ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-8036 WEST PHARMACEUTICAL SERVICES, INC. (Exact name of registrant as specified in its charter) Pennsylvania 23-1210010 (State or ot ...

West Pharmaceutical Services, Inc. (NYSE:WST) Q2 2021 Earnings Conference Call July 29, 2021 9:00 AM ET Company Participants Quintin Lai - VP-IR Eric Green - CEO Bernard Birkett - CFO Conference Call Participants Paul Knight - KeyBanc Juan Avendano - Bank of America Larry Solow - CJS Securities Jacob Johnson - Stephens John Kreger - William Blair Dave Windley - Jefferies Operator Good day, and thank you for standing by. Welcome to the West Pharmaceutical Services Second Quarter 2021 Earnings Conference Call ...

West Pharmaceutical Services, Inc. (NYSE:WST) Q1 2021 Earnings Conference Call April 29, 2021 9:00 AM ET Company Participants Quintin Lai - Vice President-Investor Relations Eric Green - Chief Executive Officer Bernard Birkett - Chief Financial Officer Conference Call Participants Juan Avendano - Bank of America Paul Knight - KeyBanc Jacob Johnson - Stephens Dave Windley - Jefferies Operator Good day and thank you for standing by. Welcome to the Q1 2021 West Pharmaceutical Services Earnings Conference Call. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 or 530 Herman O. West Drive, Exton, PA 19341-0645 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: 610-594-2900 Securities registered pur ...

First-Quarter 2021 1 First Quarter Overall Net Sales $670.7M Diluted Earnings Per Share: $1.99 | 101% Adjusted Diluted Earnings Per Share: $2.05| 103% OVERALL ORGANIC SALES GROWTH Proprietary Products Q1 2021 organic sales growth of 39.6%, led by sales of high-value products, which grew double digits BIOLOGICS PHARMA CONTRACT MANUFACTURING GENERICS Abbreviations: LSD – low-single digit; MSD – mid-single digit; HSD – high-single digit; DD – double digit Q1 31.1% DD DD DD MSD | 36.5% "We delivered another sol ...