Syngene International Ltd

Dear Shareholders,

I am pleased to report that our Company was able to achieve steady growth and material progress on our strategic agenda, despite the headwinds coming from a challenging financing environment within US biotech, as well as the volatility thrown up by geopolitical dynamics. Our broad spectrum of discovery, development and manufacturing capabilities, combined with the strategic investments that we have made in recent years, contributed to our resilience. Across the board, we remained focused on delivering projects reliably to clients while ensuring compliance with the demands of global regulators.

We celebrated the 30^th anniversary of the founding of the Company in November 2023. When Syngene was founded with a handful of scientists in Biocon campus, the vision was to build a research and development organization capable of delivering leading edge scientific innovation for global clients. Today, that vision is a reality. Our client list is the envy of the sector including some of the largest and most innovative biotechs and big pharma companies which, in their respective spheres, are leading innovation for people and patients everywhere. We also provide innovative solutions to clients in the animal health, nutrition, consumer goods, and specialty chemical sectors, earning us a reputation for delivering patentable ideas that improve e_cacy, efficiency, speed and cost.

Our company's financial performance was resilient for the fiscal year ending March 31, 2024. Revenue from operations was up 9% to Rs 3,489 Cr (USD 418 Mn) resulting in profit after tax, before exceptional items, up 12% to Rs_519_Cr (USD 62 Mn).

A highlight of the year was the acquisition of a biologics manufacturing facility from Stelis Biopharma Ltd giving the Company capacity to grow in an expanding market. The facility, which will be highly automated and benefit from a dedicated onsite quality control facility, will be operational in the second half of the current fiscal year.

I am equally pleased to report a significant milestone in our non-financial performance with our commitment within the ESG strategy to 10-year Science-Based Targets (SBTi) which will involve the reduction of greenhouse gas emissions across all operations and an expectation from our suppliers that they will play their part in reducing their greenhouse gas emissions as well.

We continued to invest in our communities through meaningful Corporate Social Responsibility (CSR) initiatives. This year, the Company contributed to the funding of the construction of the IISc Post Graduate medical school and hospital in Bangalore. We also contributed to the new Bangalore metro which will help alleviate the tra_c situation around our Bangalore campus as well as enable many more people to benefit from efficient mass transport. As part of our focus on science education, we significantly extended our

science quiz, Synquizitive to mark our 30^th anniversary. This year some 7,500 students took part from 150 schools in Bangalore, Mangalore and Hyderabad.

Our employees are at the heart of the work that we do and we continued to invest in their professional growth and overall well-being. Under the leadership of our CHRO, we started updating our employment policies to ensure that they align with the best in the industry and reflect the way our employees want to work today. In closing, I would like to express my gratitude to all Syngene employees for the contribution they make for our clients and for people, animals and patients everywhere. I would like to recognize the strength of the executive team for achieving important strategic milestones, while managing a complex external environment. As ever, I am indebted to our Board members for their sound counsel and unwavering support throughout the year. Lastly, I extend my gratitude to our clients, shareholders, and all other stakeholders for their trust in Syngene.

On behalf of the Board of Directors, I wish you a safe and prosperous year ahead.