Gedeon Richter (RICHTER) Investor Update summary

Strategic Direction and Recent Acquisitions

• Women's healthcare is a core focus, aiming to address unmet needs and drive global social impact.

• Acquisitions of Mithra and BCI Pharma secure full control over the E4 (estetrol) platform, Donesta, and add significant R&D capabilities.

• Mithra’s transaction secures Donesta’s development and maximizes its launch probability.

• BCI Pharma brings a proprietary library of over 2,000 molecules and kinase inhibitor research teams in France and Belgium.

• These moves complete vertical integration, establish in-house innovation, and provide a foundation for future gynecological research.

Portfolio Evolution, Product Innovation, and Market Position

• The business has evolved from a regional contraceptives producer to a pan-European and global player, targeting a full spectrum of women’s health conditions.

• Leading provider of oral contraceptives in Europe, with innovative products like DrovelisⓇ and EvraⓇ enhancing market position.

• Fertility and endometriosis franchises are expanding, with products like Bemfola, Cyclogest®, ExEm Foam, and Ryeqo® addressing high unmet needs.

• Menopause portfolio is growing rapidly, with E4-based products, Lenzetto®, Vagirux®, and Donesta® in late-stage development.

• Market share and revenues are rising, supporting the ambition to lead the European WHC market by 2030.

Financial Outlook and Targets

• Targeting €1 billion in women's healthcare sales before 2030, with EBIT margin ambition above 20% in steady state.

• Recent acquisitions are expected to have a small negative EBITDA impact in 2024, but positive equity and earnings accretion from 2025 onward.

• Performance is benchmarked quarterly against competitors, with projections supporting European leadership before 2030.