COMPANY PRESENTATION

November 2015

DISCLOSURE

This presentation contains no confidential material and may include publicly available market information which

has not been independently verified by Reig Jofre.

This information is given in summary form and does not purport to be complete. Information in this presentation

should not be considered as advice or a recommendation to investors or potential investors in relation to holding,

purchasing or selling Reig Jofre shares and does not take into account your particular investment objectives,

financial situation or needs.

This presentation may contain forward looking statements including statements regarding Reig Jofre’s intent,

belief or current expectations with respect to the businesses and operations, market conditions, results of

operation and financial condition, capital adequacy, specific provisions and risk management practices. Readers

are cautioned not to place undue reliance on these forward looking statements. Reig Jofre does not undertake any

obligation to publicly release the result of any revisions to these forward looking statements to reflect the

occurrence of unanticipated events. While due care has been used in the preparation of forecast information,

actual results may vary in a materially positive or negative manner. Forecasts and hypothetical examples are

subject to uncertainty and contingencies outside Reig Jofre’s control.

Past performance is not a reliable indication of future performance.

01. SOME BACKGROUND

A long story short

Main steps in Reig Jofre’s history

Industry concentration

Two synergistic fields

Complementarity between Reig Jofre and Natraceutical

02. THE NEW REIG JOFRE IN A SNAPSHOT

Business structure

Top-15 RJF Pharma products

R+D

Specialised-development and production sites

Specialised contract manufacturing

03. SOME FIGURES ON BUSINESS PERFORMANCE

Track record

Q3 2015 results

Q3 sales by business areas

CONTENTS

04. STRATEGIC PILLARS FOR THE FUTURE

Reig Jofre in 2019: Oriented to profitable growth

Business areas 2014-2019

4 strategic pillars

Investments in key pillars

05. SHAREHOLDERS AND THE SHARE

Shareholders and Board of Directors

The share

06. LINKS TO COMPLEMENTARY INFO

01. SOME BACKGROUND

A LONG STORY SHORT

• Reig Jofre (RJF) is a Spanish pharmaceutical company founded in 1929 and focused on the research, development, manufacture and marketing of pharmaceutical products and nutritional supplements, as well as on specialised contract development and manufacturing.

• RJF has 815 employees, 5 development centers and 4 manufacturing sites in Europe, direct sales in 6 countries in Europe and over 100 commercial partners in 50 countries worldwide. The company reached sales of € 152M in 2014 and is #5 Spanish pharmaceutical company by turnover listed on the Spanish stock market.

• RJF’s three product categories within RJF Pharma (78% of 2014 sales) are: i) specialised-technology products (i.e. beta-lactam antibiotics, injectable and freeze-dried products); ii) therapeutic-specialty products in the areas of dermatology, respiratory and gynaecology; and iii) nutritional supplements and consumer healthcare products.

• High technology standards and a sound track record in the above specialised-technology products have turned RJF as the chosen partner of many companies worldwide for their developments and manufacturing needs in these fields, which RJF assists through its division RJF CDMO (22% of 2014 sales).

• RJF focuses its R+D strategy on new indications of existing molecules and new routes of administration and dosage of already-known active ingredients, as well as on the development of injectable, freeze-dried and beta-lactam antibiotic generics. It also has a special interest in the identification of collaborative projects with start-ups and biotech research centres.

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MAIN STEPS IN REIG JOFRE’S HISTORY (i)

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3 GENERATIONS AT THE HEAD OF THE FAMILY BUSINESS 1929 Foundation by Ramon Reig Jofre 1970 Juan M. Biosca, son-in-law of the founder 2006 Ignasi Biosca, grandson of the founder and current CEO

BULDING-UP OF A COMPREHENSIVE PORTFOLIO OF DERMA AND RESPIRATORY PRESCRIPTION PRODUCTS AND OTC 1964-1999 Through the combination of own developments and several acquisitions in Spain

SPECIALISATION IN ANTIBIOTICS 1989-2004 Through the combination of own developments and several acquisitions of production capacity in Spain 2000 Acquisition of GlaxoSmithKline’s factory of penicilin antibiotics in Toledo (Sp) 2003 New plant of injectable cephalosporanic antibiotics in Toledo (Sp) 2004 Acquisition antibiotic MAs Anaclosil, Pulmictan, Ardine and ArdineClav

SPECIALISATION IN FREEZE-DRIED INJECTABLE GENERICS 1978-2009 Through the combination of own developments and several acquisitions of production capacity in Spain 1978 Acquisition of first lyophilizer 1998 Acquisition of Boehringer Ingelheim’s factory in Barcelona (Sp) and setting up of central headquarters 2009 New manufacturing plant of sterile freeze-dried vials in Barcelona (Sp)

Spearhead of internationalisation through out-licensing agreements

and contract development and manufacturing for other companies

MAIN STEPS IN REIG JOFRE’S HISTORY (ii)

7

MOVING FROM EXPORTS TO DIRECT INTERNATIONAL PRESENCE 2009-… 2009 Acquisition of Bioglan (Sw) specializing in topical pharmaceutical formulations 2014 Incorporation of RJ UK Ltd to centralize the commercial activity of Reig Jofre in UK 2014 Incorporation of RJ Europe Pte Ltd, joint-venture in Singapore to market pharma products in ASEAN countries

REIG JOFRE BECOMES #5 SPANISH PHARMA CO. BY TURNOVER ON THE SPANISH STOCK EXCHANGE Desember 2014 Reig Jofre merges with public company Natraceutical, a reference in Europe in the field of food supplements sold in pharmacies through the brand Forté Pharma

REINVESTING CASHFLOWS IN R+D AND OPEN INNOVATION AGREEMENTS 2013-… 2013 Launch of GynEC DX®, diagnostic tests for woman's endometrial cancer 2013 Launch of Blox Allergy®, topical lipid microemulsion to prevent allergic rhinitis 2014 Launch of Nife-Par®, in the area of pre-term labor management 2015 Agreement with biotech Manremyc for the marketing development in Europe of Nyaditum resae®, an innovative nutritional supplement against tuberculosis.

Food supplements companies approach the pharmaceutical industry in search of a more scientific offer …

... while pharmaceutical companies seek alliances in the food supplements sector or develop their own offer to diversify their business structure

* Over-the-counter: Pharma product without medical prescription

** Rx: Pharma product with medical prescription

INDUSTRY CONCENTRATION

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The pharmaceutical company Uriach developed the food

supplements brand Aquilea

The multinational Merck is promoting its food supplements

area under the brand "Bion", mainly in the vitamins range.

Esteve developed the food supplements brand Nutridiver.

Novartis also has a presence in the field of food supplements.

The Japanese pharma company Otsuka has its line of

slimming products biManán through its subsidiary Nutrition

Santé.

The multinational pharma company

Reckitt Benckiser acquired in

November 2012 the food supplements

company Schiff.

The Italian pharmacompany Recordati

acquired the Polish Farma-Projekt in

August 2012.

The Italian company Zambon acquired

in September 2011 the slimming

supplement Lipograsil.

The French group Sanofi-Aventis

acquired in November 2009 the food

supplements company Oenobiol.

Cinfa also has its line of food supplements.

TWO SYNERGISTIC FIELDS

Other processes of integration or organic development

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COMPLEMENTARITY BETWEEN REIG JOFRE AND NATRACEUTICAL

Through the merger with former Reig Jofre, Natraceutical benefits from:

Larger size to improve positioning in the pharma and stock exchange markets

Diversification of product portfolio with higher medicinal- and scientific-based approach, complementary to a

consumer approach.

Increased capabilities in pharma R&D and regulatory for new and more complex product launches in an

increasingly competitive landscape in the food supplements sector.

Larger opportunities to grow internationally through:

Reinforced capacity to reach practitioners and pharmacies through multi-channel sales teams in Spain

Direct sales in Sweden and Scandinavia.

An international network of historical partners to Reig Jofre in over 50 countries worldwide.

In-house manufacturing and own logistic center, thus increasing quality controls and flexibility.

Through Natraceutical, former Reig Jofre benefits from:

Diversification of product portfolio with a less medicinal product range and a strongly positioned brand

(Laboratoire Forté Pharma, Monaco).

Balancing of the product portfolio with less regulated and higher-margin products

Holistic approach to health: prevention and cure.

Access to Belgium, France and Portugal through former Natraceutical’s sales force.

Additional usage of internal manufacturing capacity.

Increased visibility as a public company and access to a new potential source of financing for future projects.

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02. THE NEW REIG JOFRE

IN A SNAPSHOT

BUSINESS STRUCTURE

RJF PHARMA – Consumer Div.

(Own development’s manufacture and sale)

SPECIALISED-TECHNOLOGY

PRODUCTS

Antibiotics

Injectable

Freeze-dried

THERAPEUTIC-

SPECIALTY PRODUCTS

Dermatology

Respiratory

Giyneacology

FOOD SUPPLEMENTS AND

CONSUMER HEALTHCARE

54% 14% 32%

78% RJF CDMO – B2B Division

(Specialised contract development and manufacturing)

22%

P&L figures referring to proforma 2014 Net debt on 30 June 2015 Market cap on 30 September 2015

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Top-10 products represented 54% of RJF Pharma in 2014

Top-10 customers represented 51% of RJF CDMO in 2014

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R+D

The company directs its R&D to develop: New indications of existing molecules and new routes of administration and dosage of known active

principles

Development of beta-lactam antibiotic generics in all dosage forms, but with a special focus on freeze-dried injections.

New innovative molecules in partnership with start-ups and research centres

Topical dermatological products, OTCs and nutritional supplements

PIPELINE

PRESCRIPTION

Area Patent Launch

Ginecology Y 2015

Pediatrics Y 2015

Dermatology Y 2018

Dermatology N 2018

OTC

Area Patent Launch

Dermatology N 2015

Dermatology N 2016

Dermatology N 2016

Dermatology N 2016

Podology N 2017

Dermatology N 2017

Dermatology N 2017

Ginecology Y 2020

Preclinical I II III Registry IV

Preclinical I II III IVRegistry

MARKETS

DIRECT SALES

Spain France Nordic countries Benelux Portugal UK Singapore

OVER 100 COMMERCIAL PARTNERS IN 50 MARKETS

International distributors International licencees

155 reps

RJF’s top-10 markets outside

Spain are: France, United Kingdom,

Sweden, Germany, Belgium, Italy,

Holland, Greece, Portugal and

Saudi Arabia, which together

account for 50.3% of the total

turnover of the company.

Spain

40.3%

Rest of Europe

49.7%

Asia

3.8%

America

2.7%

Africa

2.7%

Oceania

0.8%

SALES SPLIT BY GEOGRAPHICAL AREAS

2014

SPECIALISED DEVELOPMENT AND PRODUCTION SITES

16

SPECIALISED CONTRACT MANUFACTURING

Some of our clients, distributors and licensees

17

03. SOME FIGURES ON

BUSINESS PERFORMANCE

TRACK RECORD

NATRACEUTICAL BEFORE THE MERGER REIG JOFRE BEFORE THE MERGER

2014 PROFORMA FIGURES AFTER THE MERGER

Figures in million euros Reig Jofre’s data prior to 2012 is not available in IFRS accounting rules. Reig Jofre’s figures correspond to September-October tax years

19

113.3 116.2

0

10

20

30

40

50

60

70

80

90

100

110

120

130

Q3 2014

proforma

Q3 2015

consolidated

4.7

8.7

0

5

10

9M 2014

proforma

9M 2015

consolidated

19

Q3 2015 RESULTS

TURNOVER. In million euro

+2.5%

12.2

13.6

0

5

10

15

Q3 2014

proforma

Q3 2015

consolidated

EBITDA. In million euro

+10.8%

10.8%

11.7%

EBITDA margin

+84.6% NET RESULT. In million euro

Q3 SALES BY BUSINESS AREAS

RJF PHARMA – Consumer Div.

(Own development’s manufacture and sale)

SPECIALISED-TECHNOLOGY

PRODUCTS

Antibiotics

Injectable

Freeze-dried

THERAPEUTIC-

SPECIALTY PRODUCTS

Dermatology

Respiratory

Gyneacology

FOOD SUPPLEMENTS AND

CONSUMER HEALTHCARE

RJF CDMO – B2B Division

(Specialised contract development and manufacturing)

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81% 94.5 M€

19% 21.6 M€

+6.3%

-11.4%

3.2% sales decrease due to an

extraordinary production stop in

one of the company’s sites in the

month of August for the

replacement of some machinery,

although pressure on the prices of

antibiotics in Spain also played a

role.

47% 44.4 M€

19% 18.0 M€

34% 32.0 M€

-3.2% +18.6% +15.2%

Strategic focus in this

category in the coming

years and main

concentration of R+D

investment

RJF is reinforcing

marketing support to Forté

Pharma to strengthen the

brand positioning and re-

achive 50 M€ sales by

2019.

Q3 2015 turnover:

116.2 M€ +2.5%

04. STRATEGIC PILLARS

FOR THE FUTURE

REIG JOFRE IN 2019: ORIENTED TO PROFITABLE GROWTH

STRENGHTS

Growing business - CAGR 2012-2014: +6.2%

turnover; +14.2% EBITDA; +54.3% net profit.

Strong profitability – ROCE 2014: +7.4%

Low financial ratios: Less than 1x 2014 EBITDA

Net free cash flow generation to finance non-organic

growth: above 7 M€

Multiple financing sources for growth: cash flow

generation, public funds to finance R+D, financial

institutions and stock market

3 growing product categories, accounting for 78% of

2014 turnover: specialized-technology products;

therapeutic-specialty products; food supplements & OTC

Specialised development and production strength in

beta lactam antibiotics, injectable and freeze-dried

products. Worldwide recognition as independent partner,

with ongoing relations with leading international

companies.

Multinational business model: ca. 60% turnover

outside Spain and a network of over 150 commercial

partners in 50 markets.

New business opportunities: extensive pipeline of

products under registration to boost international

expansion.

BUSINESS PLAN

Ready for organic and non-organic growth

Actions clearly defined in the 4 categories, through

investments in:

Specialised production capacity, for the specialized-

technology products and CDMO

R+D, primarily addressed to the therapeutic-

specialty products range

Food supplements and own brands, headed by Forte

Pharma

Additional investments in UK and Scandinavia as

focus existing markets in Europe and Asia and US

as focus new markets.

Estimated EBITDA evolution in 2015 year end: +15%

versus 2014

5-year business plan estimates business areas sales split

to evolve as follows: RJF Pharma from 2014 78% to 82%

and RJF CDMO from 22% to 18%. Within RJF Pharma:

specialized-technology products from 54% to 43% sales;

specialty products from 14% to 19% and food supplements

& OTC from 32% to 38%.

Operational leverage after the merger with Natraceutical

and higher-margin projects related with R&D and

internationalisation to set RJF at aprox. 200 M€ turnover

and 25 M€ EBITDA in 5 years (2019) from organic

growth. This would represent +31% sales and +67%

EBITDA compared to 2014 pro forma figures. EBITDA

margin is estimated to progress from 9.8% in 2014 to

12.5% in 2019.

BUSINESS AREAS 2014-2019

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2014

Sales 152.5 M€

EBITDA 15 M€

2019e

Sales 200 M€ CAGR: +5.6%

EBITDA 25 M€ CAGR: +10.8%

SPECIALISED - TECHNOLOGY

PRODUCTS

Antibiotics

Injectable

Freeze - dried

THERAPEUTIC- SPECIALTY PRODUCTS

Dermatology

Respiratory

Gyneacology

FOOD SUPPLEMENTS AND

CONSUMER HEALTHCARE

RJF PHARMA

(Own development’s manufacture

and sale)

82% CAGR: +6.7%

RJF CDMO

(Specialised contract development and

manufacturing)

43% +1.9%

SPECIALISED- TECHNOLOGY

PRODUCTS

Antibiotics

Injectable

Freeze - dried

THERAPEUTIC- SPECIALTY PRODUCTS

Dermatology

Respiratory

Gyneacology

FOOD SUPPLEMENTS AND

CONSUMER HEALTHCARE

RJF PHARMA

(Own development’s manufacture

and sale)

54 % 14 % 32 %

78 % RJF CDMO

(Specialised contract development and

manufacturing)

22 %

18% CAGR: +1.4%

19% +13.0%

38% +10.6%

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4 STRATEGIC PILLARS

OWN BRANDS / FORTÉ PHARMA

SPECIALISED- PRODUCTION

TECHNOLOGIES

INTERNATIONALISATION

R+D

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INVESTMENTS IN KEY PILLARS (i)

R+D

ESTIMATES

Annual investment: 5% sales

Additional 9 M€ investment through capex in

2015-2019

Peak sales of projects in PhII or forward: 38.5 M€

Focus in the development of:

New indications and/or dosage forms of known

active principles, which reduces financial risk and

time-to-market

Injectable generic products and beta lactam

antibiotics to leverage RJF’s specialised production

strength in Spain

Topical dermatological products and OTCs, mainly

developed and manufactured in RJF’s site in Sweden

Extension of Forte Pharma’s range of food

supplements

Identification of collaboration projects with start-

ups and biotech research centres, as already for

GynecDx (endometrial cancer) and Nyaditum resae

(tuberculosis)

SPECIALISED-TECHNOLOGY PRODUCTS

• To reinforce RJF’s international presence through

existing subsidiaries: Sweden + UK + Singapore

• Special focus in Asia and US as new markets outside

Europe through agreements with licensees.

ESTIMATES

8 M€ in expansión capex in 2015-2019, including

new sterile injectable antibiotics line to attend

increasing demand.

TOTAL CAPEX ESTIMATES

Capex to total 26 M€ in 2015-2019

17 M€ in expansion capex , of which ca. 9 M€ in

R+D and 8 M€ in production sites

9 M€ in maintainance capex

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INVESTMENTS IN KEY PILLARS (ii)

INTERNATIONALISATION

• Reinforcement of RJF’s specialized production capacity

for new projects underway regarding CDMO and

specialized-technology developments

• Special focus on penicillin antibiotics in all dosage

forms, cephalosporin antibiotics in vials and freeze-

dried vials for new growth opportunities in Asia and

US.

ESTIMATES

Markets outside Europe to represent from 10%

2014 sales to 15% in 2019

Spain to represent from 40% in 2014 to 31% in

2019

US as new market, with 2% sales in 2019

OWN BRANDS / FORTÉ PHARMA

Strengthening of own brands, with a special focus on

Forte Pharma’s food supplements line following its

integration into Reig Jofre.

Potential strategic acquisitions of international brands.

ESTIMATES

Forte Pharma’s sales objective: to re-achive 50

M€ levels, from current 30 M€

Addtional marketing support of 2.5 M€ in 2016 to

strenghten brand positioning

Higher weight of this category will back higher

margins

05. SHAREHOLDERS AND

THE SHARE

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SHAREHOLDERS BOARD OF DIRECTORS

Reig Jofre Investments SL was the sole shareholder

of family-owned Reig Jofre prior to the merger with

Natraceutical

Natra SA was the controlling shareholder of

Natraceutical prior to the merger with Reig Jofre.

Since August 2015, Natra does not sit the BoD of RJF.

Free float is currently composed of aprox. 11,000

shareholders, predominantly retailers. The two main

shareholders agreed to increase the company’s free

float up to 25% before December 2016s.

Go through all the directors’ profiles on: http://www.reigjofre.com/en/investors/corporate-governance

SHAREHOLDERS AND BOARD OF DIRECTORS

To guarantee a balanced BoD and increase the stock liquidity

Chairman: Reig Jofre Investments SL

Represented by Mrs. Isabel Reig

CEO: Mr. Ignasi Biosca Reig

Upon proposal of Reig Jofre Investments SL

Director: Mr. Alejandro Garcia Reig

Upon proposal of Reig Jofre Investments SL

Indep. dir.: Mr. Anton Costas

Professional track record in economy and

finance

Indep. dir.: Mrs. M. Luisa Francoli

Professional track record in

internationalisation and marketing

Indep. dir.: Mr. Ramon Gomis

Professional track record in medical research

and nutrition

Indep. dir.: Mr. Ramiro Martinez-Pardo

Professional track record in financial markets

and corporate governance

Indep. dir.: Mr. Emilio Moraleda

Professional track record in management

positions in the international pharma industry

THE SHARE: WORKING TO ADAPT IT TO REIG JOFRE’S NEW REALITY

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Q1 2015

RJF: +62.5%

Ibex35: +12.1%

Q2 2015

RJF: -14.0%

Ibex35: -6.5%

1/1/15-12/11/15

RJF: +5.95%

Ibex35: -1.32%

Market cap: 250 M€

REVERSE SPLIT

Reverse split of 20x1 executed in September 2015

Par value from 0.10 € to 2.0 €

Outstanding shares from 1,264,284,408 to 63,214,220

+2.6%

Q3 2015

RJF: -28.9%

Ibex35: -11.2%

3.68 3.89

6.32

Liquidity

Average volume:

68,124 shares

Daily liquidity:

0.1%

06. LINKS TO

COMPLEMENTARY INFO

LINKS TO COMPLEMENTARY INFORMATION

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Latest news: www.reigjofre.com/en/news

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