Theravance Biopharma (TBPH) Corporate presentation summary

Financial position and capital management

• Ended 2025 with $326.5M in cash and no debt; expects ~$400M in cash by Q1 2026, including $50M TRELEGY and $25M YUPELRI milestones received in Q1 2026.

• Anticipates $100M near-term TRELEGY sales-based milestone as global net sales are forecasted to exceed $4.3B in 2026.

• Expects to generate $60-70M annualized cash flow post-restructuring, driven by YUPELRI.

• Strategic Review Committee is evaluating alternatives to maximize shareholder value.

• Irish tax residency with ~$2.6B in tax attributes.

YUPELRI® commercial performance and opportunity

• YUPELRI is the only once-daily nebulized LAMA for COPD, launched in 2019, with a 35% U.S. profit share.

• U.S. net sales reached $266.6M in 2025, up 12% from 2024; Q4 2025 net sales were $70.6M, up 6% year-over-year.

• Hospital doses grew 29% vs. Q3 2024, with a new hospital market share high of 21%.

• Over 80% of hospital-initiated patients continue YUPELRI post-discharge.

• Sizable addressable patient population remains, with ~1.9M U.S. COPD patients suitable for YUPELRI.

Intellectual property and legal status

• Patent protection for YUPELRI extends into 2039 for method of use; composition of matter patent expires in 2028.

• Litigation settled with 7 of 8 generic filers, all with licensed entry dates of April 2039; one ongoing case with Mankind Pharma, not marketing before August 2031.