Barclays Global Healthcare Conference 2014

March 12, 2014

NASDAQ: AMRI

Forward-Looking Statements

This presentation may contain projections, estimates and other forward-looking

statements that involve a number of risks and uncertainties, including those discussed

in the Company’s filings with the Securities and Exchange Commission. While this

presentation represents management’s current judgment on the future direction of the

Company’s business, such risks and uncertainties could cause actual results to differ

materially from any future performance suggested herein. The Company undertakes no

obligation to release publicly the results of any revisions to these forward-looking

statements to reflect events or circumstances arising after the date hereof.

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Introduction to Bill Marth

14 Year tenure at Teva Pharmaceuticals, most recently as President and CEO of Teva

Americas

Led the growth of a $400 million business in 1999 to $12 billion in 2012

• Presided over 10 acquisitions in 10 years

• Transformed Teva’s US Generic business from the 4th ranking US Company to the

largest generics business in the world

• Led branded respiratory, neuroscience, oncology and women’s healthcare

divisions, including Canadian and Latin American affiliates

• Implemented supply chain strategies which ultimately changed the landscape of

Teva’s business and had profound impact on the US Generic industry as a whole.

2012 – Joined AMRI Board of Directors, most recently as Non-Executive Chairman

3

Experienced Management Team with Extensive Backgrounds in

Global R&D Manufacturing Environment

• Mike Nolan, CFO

• Global finance, planning and analysis, commercial and M&A expertise

• Previously at Thermo Fisher Scientific, Rio Tinto / Alcan, DuPont

• Lori Henderson, General Counsel

• Global legal, corporate affairs, secretary and chief administrative officer roles

• Previously at Rand, Moldflow, CP Clare, Goodwin Procter

• Michael A. Luther, Ph.D., SVP Discovery and Development

• Head of Discovery and Development including the Buffalo Medical Innovation Hub

• Spearheading expanding biology and pharmacology capabilities

• Previously at Charles River Labs, Merck and GSK

• Steve Hagen, Ph.D., SVP Pharmaceutical Development and Manufacturing

• Responsible for analytical chemistry, QA, and regulatory affairs as well small and large scale

manufacturing operations

• Previously at Pfizer and Ribi ImmunoChem

• George Svokos, SVP Sales and General Manager - API

• 30 years experience in manufacturing, business development, R&D and sales and marketing

• Priorities: API commercial strategy and sales

• Previously at Teva, Biocraft Labs

4

AMRI Service Platform

• Hit to Lead to Candidate Services

• Medicinal Chemistry

• High Throughput Screening

• In Vitro Biology and Pharmacology

• Library Design & Custom Synthesis

• Biocatalysis and Biotransformation

• Natural Product Libraries

• Profiling & Structure ID

• Bioprocess Development

• Early ADME

• Metabolite ID

• Process and Analytical

Development

• Kilo Lab Scale-Up

• Phase I GMP

• Salt & Polymorph

Investigations

• Formulation Development • Sterile Fill & Finish Drug Product

• Formulation Manufacturing

Discovery & Early Development Services

Formulation Manufacturing

Fully integrated platform spans drug development spectrum from discovery

to manufacturing, providing comprehensive service offering to customers

Target

Discovery

Lead

Finding

Lead

Optimization

Candidate

Selection

Pre-

Clinical Phase I Phase II Phase III

Product

Approval

API Manufacturing

• Phase II/III API

• Commercial API

• High Value Intermediates

• High Potency

• DEA Regulated API

• Niche Generics

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Bio-Pharma Looking to Simplify, Reduce Cost Structures

R&D Restructuring

• Reduction in internal R&D resources, generic competition, healthcare reform driving increased strategic outsourcing

• Increasingly willing to partner on/outsource discovery development and R&D

• Resulting outsourced R&D is projected to grow 13% from 2013 - 2016

More Stringent Regulatory Environment

• Requires the use of service providers with strong intellectual capacity and high quality standards

Globalization of R&D Activities

• Customers are seeking lower cost alternatives with the same quality standards they receive in the US

Academic and VCs Increasing Roles

• Bio-pharma turning to VCs and academics as source of innovation. Academics need support to “Industrialize” concepts. VCs building virtual entities via outsourcing of R&D

AMRI is well positioned to capitalize on the increased use of outsourcing

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AMRI provides a seamless technology transfer from Discovery through

Contract Manufacturing, creating a “sticky” customer relationship

Market Opportunity and Trends in AMRI’s Key Market Segments

$13 billion(1)

Discovery & Development

$78 million

Estimated

Outsource

Market

AMRI

$127 million

Estimated

Outsource

Market

AMRI

API

$7 million

Estimated

Outsource

Market

AMRI

Drug Product

¹Source: Kalorama, McKinsey Analysis ; ²Source: Frost & Sullivan

• Pharma’s need for portfolio regeneration – forecasted NME output in the next ~4 - 5 years

• Greater variabilization of research cost & more strategic alliances

• Rise in Discovery Pharmacology outsourcing

• 2012 – 16 CAGR ~11% with 9% increased CRO Penetration(1); AMRI relevant markets growing 12 - 15%

• Highly regulated with significant unmet needs particularly in fill/finish

• Clear reputation for product quality, cost competitiveness and desire to reduce # of preferred suppliers

• Fragmented market with potential for significant consolidation

• 2012 – 16 CAGR 12%(2)

• Fixed cost pressure, complexity and need for flexibility pushes pharma to outsource

• Clear reputation for product quality, cost competitiveness and desire to reduce # of preferred suppliers

• Fragmented market with potential for significant consolidation

• 2012 – 16 CAGR 8%(2)

$14 billion(2) $15 billion(1)

7

The API Environment – Next 5 Years

Market Characteristics

▪ Global pharmaceutical market to grow from ~$825B to

~$1,000B by 2016 – Generics are driving growth

– US is growing by 5% with 87% of prescriptions being filled as generics

– Japan is expected to be at only 31% generics in 2015

– Europe is less that 40% generic …but, there are branded generics

▪ Trend of outsourcing of API manufacturing by

pharmaceutical companies continues – Branded companies are moving towards their core competencies (S&M)

– Generic companies are finding that API manufacturing is a different

business and some are divesting assets or minimizing efforts in these

areas

▪ Estimated API market is $14B and growing

▪ Recent record of 39 products were approved by the

FDA in 2012 – 28 small molecules

– 14 cancer (i.e. cytotoxic)

– 5 peptides

– Only 3 biologics (CBER); remainder by CDER

– 2013 was weaker at 27 product approvals

Rule of Thumb:

API costs are < 5 % of the

price a typical branded

product and 20% of a generic

product.

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¹Source: IMS Market Research

¹

8

$40

$60

$72

$145

$122

$137

$153 $163

$195

$157 $163

$170

$190

$210

$236

$0

$50

$100

$150

$200

$250

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 *2014E

AMRI Revenue Growth and Mix

21%

20%

29%

30%

Spec Pharma

Large Pharma/Biotech

Other

Biotech

Discovery Development Large Scale

$ m

illio

ns

AMRI Revenue Growth of 14% Outperforms Pharma Services Market

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*Represents mid point of guidance

AMRI Discovery & Development Performance

% Growth $ millions

$ millions % Margin

• Streamlined operations to improve margins

• Increased multi-year strategic agreements in

Discovery & Development

• Lilly, NIH, Merck, Ono

• Maximizing strong customer clinical supply

pipeline

• Driving SMARTSOURCING™ - across

functional approach that maximizes the

strengths of both insourcing and outsourcing

• 58 Phase I & II compounds

• 23 Phase III compounds

• Five FDA decisions in the next 9 months

Challenging CRO market met with mitigating operational and commercial actions to position

Discovery / Development business to capture attractive growth opportunities

10 10

¹Excludes corporate overhead

Contract Manufacturing Performance

• Invested in operations to improve capability

and productivity

• Long term supply agreements for commercial

business

• 36 commercial products being manufactured

• Extensions on two large API supply

agreements

• Actavis API and royalty revenue

• Growing Aseptic Fill/Finish business

• 13 customer audits all leading to approved

supplier designation

• Cardium commercial launch of Excellagen™

• Successful FDA inspection of Burlington

facility; removal of 2010 warning letter

Previous investments in Contract Manufacturing along with solid execution has

driven impressive growth and margin improvement over the last four years

% Growth $ millions

$ millions % Margin

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¹Excludes corporate overhead

AMRI Key Financial Metrics

2010A 2011A 2012A 2013A

Cash & Equivalents1 $41.5 $20.2 $28.5 $180.5

Debt2 15.9 12.6 16.5 157.2

Net Debt ($25.6) ($7.6) ($12.0) ($23.3)

Revenue $198.0 $207.6 $226.7 $246.6

% growth — 4.8% 9.2% 8.8%

Adjusted EBITDA $8.1 $6.5 $33.1 $49.1

% margin 4.1% 3.1% 14.6% 19.9%

Debt / Adjusted EBITDA 2.0x 1.9x 0.5x 3.2x

Adjusted EBITDA / Interest Expense 27.7x 9.1x 71.4x 75.9x

$millions

Source: Company filings 1 Cash and equivalents includes restricted cash consistent with term loan included in debt 2 Debt includes outstanding letters of credit, term loan and industrial development authority bonds

Solid financial footing even before very attractive bond offering at 2.25%

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November Convertible Issuance: Attractive Capital with Minimal Dilution

Securities description Cash Convertible Senior Notes due 2018 Bookrunners JP Morgan & Morgan Stanley

Offering size Target $100 million Actual $130 million

Over-allotment amount Target $ 15 million Actual $ 20 million

Marketed coupon range Target 2.00 – 2.50% Actual 2.25%

Marketed conversion premium range Target 27.5 – 32.5% Actual 32%

Bond Hedge Yield/Cost Actual 7.0%

Net Proceeds* Target $102 million Actual $135 million

Maturity 5-years Call features None Put features None

Stock price

(at maturity)

Convertible value

(owed to investors)

Bond hedge

payout

Warrants payout

(shares owed Net cost to AMRI

$11.00 $150 million $0 million 0.0mm shares $150 million

$12.00 $150 million $0 million 0.0mm shares $150 million

$13.00 $150 million $0 million 0.0mm shares $150 million

$14.00 $150 million $0 million 0.0mm shares $150 million

$15.00 $150 million $0 million 0.0mm shares $150 million

$16.00 $154 million $4 million 0.0mm shares $150 million

$17.00 $163 million $13 million 0.0mm shares $150 million

$18.00 $173 million $23 million 0.0mm shares $150 million

$19.00 $182 million $32 million 0.0mm shares $150 million + 0.0mm shares

$20.00 $192 million $42 million 0.5mm shares $150 million + 0.5mm shares

$21.00 $202 million $52 million 0.9mm shares $150 million + 0.9mm shares

$22.00 $211 million $61 million 1.3mm shares $150 million + 1.3mm shares

$23.00 $221 million $71 million 1.7mm shares $150 million + 1.7mm shares

$24.00 $230 million $80 million 2.0mm shares $150 million + 2.0mm shares

$25.00 $240 million $90 million 2.3mm shares $150 million + 2.3mm shares

Settlement at maturity (Total)

Attractive bond offering provides additional growth capital with limited dilution

Even at ~ 2.25x the

current share price

the dilution would

only be around 7%

13

AMRI: On a Path to Industry Leading Returns

• A disciplined approach to evaluating and managing assets

• Demonstrated track-record of optimizing operations to drive profitability and value

• Consolidation of Biology and Pharmacology from Bothell to Singapore

• Consolidation of Chemical Library work from Hungary to India

• Vertical integration of intermediate production for Rensselaer through India

• Cessation of non-core activities (internal proprietary drug development)

• G&A rationalization

• Realized $18 million of savings

• Double digit revenue growth

• Actions taken, together with strong financial results, have placed AMRI on a path to

industry leading margins

14

A Disciplined Deployment of Capital Will Further Fuel Growth

and Shareholder Value

• Evaluating Organic and Inorganic Growth Opportunities

• Investment Priorities:

• Continue to invest in core areas to fuel growth in discovery, development and manufacturing

• Expand API capabilities in Rensselaer and India

• Improve large scale manufacturing capabilities in Burlington

• Add capabilities that complement our existing core areas

• API – Leverage expertise in controlled substances, more global footprint

• Drug Product – Increase scale to take advantage of growing market needs

• Investment Criteria:

• Use ROIC to weigh the cost of investing against its contribution to growth, margins, accretion

and ultimately value for shareholders

• ROIC needs to beat our hurdle rate

• Prioritize opportunities that will profitably drive revenue growth in excess of our current

business

• Several organic and inorganic opportunities meet these stringent criteria

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Experienced management team in place to execute on these initiatives

AMRI is Strategically Positioned to Capitalize on Macro Trends

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• Operate in contract research market segments with attractive growth rates, driven by increased

R&D and increased penetration of outsourced drug discovery

• Operate in a contract manufacturing market segments with attractive revenue growth rates

projected across all relevant industry segments and formulation types

• Broad range of skills to meet the challenging needs in Pharma Services

• Discovery and Development

• API

• Drug Product

• Diversified mix of 300+ customers from large pharma, biotech, and specialty pharma

• Good visibility of contracts and pipeline

• Exposure to growing customer base

• Global footprint offering timely/cost effective solutions with high quality

• Demonstrated track record of operational performance

• Excellent liquidity and financial position to take advantage of attractive growth opportunities

AMRI is well positioned to capture increasing share of strategic outsourcing in coming years

Thank You

About AMRI

Albany Molecular Research, Inc. (AMRI) is a global contract research and manufacturing organization

offering customers fully integrated drug discovery, development and manufacturing services. For over 22

years, AMRI has demonstrated its adaptability as the pharmaceutical and biotechnology industries have

undergone tremendous change in response to multiple challenges. This experience, a track record of

success and locations in the United States, Europe and Asia now provides our customers with

SMARTSOURCING™, a full range of value-added opportunities providing customers with informed decision-

making, enhanced efficiency and more successful outcomes at all stages of the pipeline. AMRI has also

successfully partnered R&D programs and is actively seeking to out-license its remaining programs for further

development. For more information about AMRI, please visit our website at www.amriglobal.com or follow us

on Twitter (@amriglobal).

Contacts:

Investor Relations: Michael Nolan, Chief Financial Officer, 518-512-2261

Media: Gina Rothe, AMRI Communications, 518-512-2512

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