Genmab (GMAB) investor relations material

Strategic growth and pipeline highlights

• Nine marketed medicines and two co-owned products drive diversified revenue streams.

• Three late-stage assets with five FDA Breakthrough Therapy Designations are positioned for multiple potential launches in 2027.

• Multiple phase 3 readouts expected in late 2026 and early 2027 for key assets including EPKINLY, Rina-S, and Petosemtamab.

• Wholly owned and partnered assets address large patient populations in oncology and immunology.

• Integration of Merus and development of Petosemtamab expected to accelerate revenue growth and EBITDA accretion by 2029.

Financial performance and guidance

• 2026 revenue guidance raised to $4,325–4,525 million, a 19% increase year-over-year and 5% above previous guidance.

• Gross profit and operating profit guidance also increased, with strong profitability maintained while investing in late-stage pipeline and launch readiness.

• Disciplined investment strategy targets less than 3x gross leverage by 2027.

• Productivity programs and prioritization of high-value programs support operating discipline.

Royalty and own-product portfolio outlook

• Royalty portfolio includes high-growth assets such as DARZALEX, Kesimpta, TEPEZZA, TECVAYLI, TALVEY, and RYBREVANT, with projected strong sales growth through 2030.

• Own-product portfolio expected to grow to approximately four medicines by 2030, further diversifying revenue.

• Peak annual sales potential for late-stage assets: EPKINLY (> $3B), Rina-S (> $2B), and Petosemtamab (multi-$Bn).