Doing now what patients need next

This presentation contains certain forward-looking statements. These forward-looking statements may be identified by words such
as ‘believes’, ‘expects’, ‘anticipates’, ‘projects’, ‘intends’, ‘should’, ‘seeks’, ‘estimates’, ‘future’ or similar expressions or by discussion
of, among other things, strategy, goals, plans or intentions. Various factors may cause actual results to differ materially in the
future from those reflected in forward-looking statements contained in this presentation, among others:

1 pricing and product initiatives of competitors;

2 legislative and regulatory developments and economic conditions;
3 delay or inability in obtaining regulatory approvals or bringing products to market;
4 fluctuations in currency exchange rates and general financial market conditions;
5 uncertainties in the discovery, development or marketing of new products or new uses of existing products, including without limitation negative
results of clinical trials or research projects, unexpected side-effects of pipeline or marketed products;
6 increased government pricing pressures;
7 interruptions in production;
8 loss of or inability to obtain adequate protection for intellectual property rights;
9 litigation;
10 loss of key executives or other employees; and
11 adverse publicity and news coverage.

Any statements regarding earnings per share growth is not a profit forecast and should not be interpreted to mean that Roche’s earnings or earnings
per share for this year or any subsequent period will necessarily match or exceed the historical published earnings or earnings per share of Roche.
For marketed products discussed in this presentation, please see full prescribing information on our website www.roche.com
All mentioned trademarks are legally protected.
Unlocking the next era of innovation

Teresa Graham
CEO Roche Pharmaceuticals
Delivering on the Pharma Ambition

Accelerating R&D Excellence

Looking ahead

4
Sales momentum expected to continue into 2025
Strong growth by both divisions: Pharma and Diagnostics

Group sales growth Group base business sales growth1

%CER %CER

+15% +15%

+10% +9% +9% +9% +10% +9% +9%

+8%
+7%

+5% +5% +3% +3%

+2%
+1% +2%
+1%
0% 0%

COVID-19 Pandemic -3% COVID-19 Pandemic

-5% -5%
2020 2021 2022 2023 Q1 ’24 Q2 ’24 Q3 ’24 2020 2021 2022 2023 Q1 ’24 Q2 ’24 Q3 ’24

Total COVID-19 sales of CHF ~19bn2 No significant COVID-19 impact going forward

All growth rates at Constant Exchange Rates (avg full year of the respective years); 1Base business=Pharma excluding Ronapreve and Diagnostics excluding COVID-19-related products; 2COVID-19 sales
referring to COVID-19 diagnostic tests, Ronapreve and Actemra sales 5
Young portfolio to drive growth in the near- to mid-term
2024 NME update: Achieved approval for Itovebi (inavolisib) in HR+ breast cancer and PiaSky in PNH
CHFm % of Pharma Sales2

20.0 56%

18.0 50%
16.0
42%
14.0
12.0 34%

10.0
8.0
1 6.0
4.0
2.0
0.0
YTD Sep 2021 YTD Sep 2022 YTD Sep 2023 YTD Sep 2024
2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Cotellic Alecensa Tecentriq Ocrevus Hemlibra
Luxturna Xofluza Polivy Rozlytrek Enspryng
Phesgo Evrysdi Ronapreve Susvimo Vabysmo
Lunsumio Columvi Elevidys Piasky

Young portfolio defined as all launches since end of 2015; 1Elevidys: Accelerated US approval by partner company Sarepta; 2Venclexta sales booked by AbbVie and therefore not included;
NME=new molecular entity; PNH=paroxysmal nocturnal hemoglobinuria; HR=hormone receptor 6
Our new Pharma Strategy focusing on five TAs
Ambition to deliver 20 transformative medicines in areas of highest societal burden

Where we play: Priority Therapeutic Areas Global Burden of Disease (‘23 & ’35, mn DALYs)

+9%
Neurology Oncology/ 2,408 Growth (p.p %)
Hematology 2,208 33
25 225 33%
184 286
231 22%
268 328
24%
531 617
22%
Ophthalmology Immunology
16%
970 920
-5%

CVRM 2023 2035

Ophthalmology Neurology CVRM
Immunology1 Oncology/ Hematology Others2

Source: IHME, Clarivate (DRG); 1 Immune-mediated diseases incl. selection of diseases across TAs, i.e., COPD, IBD, CSU, CF, RA, urticaria, idiopathic interstitial pneumonia (incl. ILD), chronic cough, glomerulonephritis, LN/SLE, asthma,
IgAN; 2 Others incl. Infectious Diseases, Reproductive Health incl. neonatal and maternal health, non-immunological gastrointestinal diseases, vitamin deficiencies, among others; CVRM=cardiovascular, renal and metabolism 7
One asset team approach allows us to maximize MoAs across TAs
For example, incretins have the potential to become a foundational target within several TAs

Drug target

Oncology/Heme Neurology Immunology Ophthalmology CVRM

CD20

VEGF

IL6

CD19

C5

GLP-1/GIP

NLRP3

Latent myostatin

VEGF=vascular endothelial growth factor; IL6=interleukin 6; GLP-1=glucagon-like peptide-1; GIP=gastric inhibitory polypeptide; NLRP3=NOD-, LRR- and pyrin domain-containing protein 3 8
Oncology/Hematology

Breast Cancer: Sustained growth in HER2+ and expanding into HR+

One of our most advanced E2E DAs, with robust pipeline aiming to address remaining unmet need
Breast cancer portfolio Giredestrant aims to replace standard of care ET across eBC & mBC
Low risk (~55%)1 Medium risk (~25%)1 High risk (~20%)1

Neoadj
Ph I Ph II Ph III
INAVO120 (1L PIK3CA-mut HR+HER2-
Itovebi SURGERY
mBC (endocrine resistant))
INAVO121 (post-CDK4/6 PIK3CA-mut 3
Itovebi 3
HR+/HER2- BC) gire
gire gire

Adj
ET + CDKi
Itovebi
INAVO122 (1L PIK3CA-mut HER2+ BC)
+ Phesgo
Non-visceral disease Visceral crisis
INAVO123 (1L PIK3CA-mut HR+/HER2-
Itovebi De novo/AI-sensitive (60%) AI-resistant (40%)
mBC (endocrine sensitive))
giredestrant persevERA (1L ER+/HER2- mBC 1 2
1 2025 gire + gire+

1L
+ palbociclib (endocrine sensitive)) CDKi CDKi
giredestrant Chemo ADC
+ everolimus
evERA (post CDKi ER+/HER2- mBC) 4 2025 +/- bev

giredestrant pionERA (1L ER+/HER2- mBC

+ any CDK4/6i (endocrine resistant))
2 4
ET + ET + gire +
2L+
ET ET+ CDKi AKTi PI3ki mTOR
giredestrant lidERA (adjuvant ER+/HER2- mBC) 3

giredestrant
+ Phesgo
heredERA (1L maintenance ER+/HER2+
mBC)
• Leading SERD with head-to-head adjuvant trial vs. endocrine therapy
HER2 TKI HER2+ BC • Evaluating combination with abemaciclib in eBC with single arm sub study as part of Ph III lidERA
RGT-419B
HR+ BC
• Plan to initiate combination with RGT-419B (CDK4/2i)
(CDK4/2i)
runimotamab
HER2+ BC
• Readouts for Ph III (persevERA) in 1L ER+/HER2- mBC and Ph III (evERA) in postCDKi ER+/HER2-
(HER2xCD3) Approved
mBC expected in 2025
1Risk definitions vary
according to guidelines and tools used: stage at diagnosis based on internal estimates using SEER data; ET=endocrine therapy; PIK3CA-mut=phosphatidylinositol 3-kinase, catalytic, alpha polypeptide
mutated; HR+=hormone-receptor positive; ER+=estrogen receptor positive; HER2=human epidermal growth factor receptor 2; e/mBC = early/metastatic breast cancer; CDKi=cyclin dependent kinase inhibitor; TKI=tyrosine kinase 9
inhibitor; neoadj=neoadjuvant; adj=adjuvant; ADC=antibody drug conjugate; bev=bevacizumab; BIC=best-in-class; SoC=standard of care; AKT=serine/threonine kinase 1; mTOR=mammalian target of rapamycin
Oncology/Hematology

Hematology: Portfolio further strengthened by allogeneic CAR-Ts

Potential to move into autoimmune diseases including MS and SLE
Roche/Poseida allogeneic CAR-Ts key features Allogeneic CAR-T pipeline

Robust healthy donor screening system

Development
Molecule TA Indication
status

Non-viral gene insertion and gene “On-demand” delivery from P-BCMA-ALLO1 Oncology MM Phase I

editing customized for TSCM cells inventory

B-cell
Oncology Phase I
malignancies
P-CD19CD20-
Proprietary Booster Molecule Selectable marker for purification
ALLO1 Neurology MS IND-enabling
improves manufacturing yield so nearly all cells are CAR-carrying
Immunology SLE IND-enabling

Safety “switch” to eliminate Unit operations optimization across P-MUC1C-

Oncology Solid tumors Phase I
CAR-T cells if needed process development and quality ALLO1

• Technology features set Poseida ALLO-CAR-Ts apart as potentially best-in-class in • Early clinical data for P-BCMA-ALLO1 in MM indicates
Oncology, Immunology and Neurology strong activity, comparable to auto. BCMA CAR-Ts
• FDA awarded P-BCMA-ALLO1 orphan drug designation (ODD) for treatment of MM, • Most recent data for P-BCMA-ALLO1 and P-
and Regenerative Medicine Advanced Therapy Designation (RMAT) for R/R MM CD19CD20-ALLO1 presented at ASH
• FDA INDs filed for P-CD19CD20-ALLO1 in MS and SLE

CAR-T=chimeric antigen receptor T-cell; MM=multiple myeloma; ODD=orphan drug designation; RMAT=regenerative medicine advanced therapy designation, RR=relapsed refractory; BCMA=B-cell 10
maturation antigen; MS=multiple sclerosis; SLE=systemic lupus erythematosus; IND=investigational new drug
Oncology/Hematology

Hemophilia A: Continuing to elevate the SoC

NXT007, a next-gen Factor VIIIa mimetic bispecific mAb, is 30 times more potent than Hemlibra
Hemophilia A portfolio NXT007
Structure and function1 NXT007, Hemlibra and FVIII thrombin generation2

Further optimized Optimized Lch for

Hemlibra Hch each arm

Ph I Ph II Ph III Ph IV

Ph IV: BEYOND ABR (moderate/severe

Hemlibra IA 2025
Hemophilia A)
ACT-Fc to
NXT007
(FIXa x Fx)
Hemophilia A 2025 improve half-life
FAST-lg to promote
Next Gen Ph IIb to initiate
SPK GT
Hemophilia A
in H2 2025 correct Hch/Lch pairing

• BEYOND ABR evaluating overall health, • Potential to achieve zero treated bleeds for Hem A pts, without need for additional FVIII
physical activity, and joint outcomes treatment
• NXT007 Ph II data expected in 2025 • Engineered based on Hemlibra, to enhance binding affinities, extend half-life, and allow for low
volume, infrequent subcutaneous injections
• Ph IIb of Next Gen SPK gene therapy with
enhanced function FVIII variant in HemA to • NXT007 is ~30-fold more potent than Hemlibra and in vitro assay indicates that thrombin
initiate in H2 2025 generation is within the range of people without Hem A2

*Based RWD from McCary I, et al. Haemophilia 2020, Wall C, et al. ISTH 2020, Poon M-C, et al. ASH 2022 and Khairnar R, et al. ASH 2021; 1Koga et al. MABS 2023, 15 (1), 2222441; 2Teranishi-Ikawa et 11
al. Journal of Thrombosis and Haemostasis 2024.22 (2):430-440; SOC=standard of care; Q2W/Q4W=once every 2/4 weeks; SC=subcutaneous; MMS=mild-moderate-severe; IA=interim analysis
Neurology

Alzheimer’s disease: Trontinemab expected to enter Ph III in 2025

Best-in-class potential: Fast and deep plaque removal with an improved safety profile
Trontinemab clears amyloid more rapidly than conventional mAbs

Standard IgG1 BrainshuttleTM IgG1

• Trontinemab crosses the BBB using Roche’s proprietary BrainshuttleTM technology, and removes Aβ rapidly and robustly
• Amyloid clearance is accompanied by decreases in key biomarkers
• Sustained low incidence of ARIA vs other mAbs and favourable overall safety and tolerability
• Further data from Ph II (available H1 2025) will ungate Ph III clinical program
1Whole-brain imaging highlights the distribution of classical IgG vs. BrainshuttleTM IgG targeting a neuronal target in mouse brains; Lecanemab CLARITY AD: van Dyck et al. N Engl J Med 2023; 388:9-21; Donanemab TRAILBLAZER-
ALZ-2: Sims et al .JAMA. 2023;330(6):512-527; Trontinemab: Kulic et al, CTAD 2024; AD=Alzheimer’s disease; PET=Positron Emission Tomography; mAb=Monoclonal antibody; Aβ=Amyloid Beta; IgG1=immunoglobulin G1; BBB=blood
brain barrier; *For illustrative purposes - not based on head-to-head data, values from different trials 12
Neurology

MS: Continued pursue of innovation in a key E2E Disease Area

Fenebrutinib with best-in-class potential, highly differentiated vs. covalent BTKis
Development program Fenebrutinib PK profile vs other BTKis 1
Molecule Ind. Vs. Ph I Ph II Ph III
Fenebrutinib Tolebrutinib Evobrutinib Remibrutinib
RMS Placebo FENopta Non-covalent Covalent Covalent Covalent
Reversible Irreversible Irreversible Irreversible
Fenebrutinib

RMS teriflunomide FENhance 1 WB B cell IC50:

10 nM 84 nM 18 nM
8 nM
RMS teriflunomide FENhance 2 WB Myeloid cell IC50: 31 nM 166 nM 1660 nM 67 nM

Selectivity
PPMS Ocrevus FENtrepid Low Low High
High
Ocrevus RMS/ RMS, RMS, SPMS,
Ocrevus MUSETTE/GAVOTTE RMS RMS
HD PPMS PPMS (vs Ocrevus) PPMS (vs placebo)

• All Ph III fenebrutinib studies in RMS and • Fenebrutinib binds reversibly to BTK with kinetics that may positively influence efficacy and safety
PPMS to read out in 2025 • Fenebrutinib is the most potent BTKi in the inhibition of FcR and BCR signalling2
• Ph III (FENtrepid) in PPMS is the only • In an in vitro kinase activity assay, fenebrutinib only inhibited three off-target kinases3
H2H study vs Ocrevus
• Ocrevus HD Ph III (MUSETTE/GAVOTTE)
in RMS/PPMS results expected in 2025

Fenebrutinib could disrupt the oral market segment, currently comprising >40% of the global MS market
1Kramer, et al. (2023) Nat Rev Neurol. 2023;19(5):289-304 ;Crawford et al.(2018) J Med Chem 61, 2227-2245; Francesco et al., ACTRIMS-ECTRIMS (2017) 200644. Haselmayer et al. (2019) J Immunol 202, 2888-2906; Angst et al.
(2020) J Med Chem 63, 5102-5118; 2Weber MS, et al. AAN 2021 (Oral presentation P15.091); 3Johnson et al. Presented at MSVirtual 2020 (Presentation number P0338) H2H=head-to-head; MS=Multiple sclerosis; RMS=relapsing
multiple sclerosis; PPMS=primary progressive multiple sclerosis; SPMS=Secondary progressive multiple sclerosis; BTK=Bruton’s tyrosine kinase; nM=nanomolar; WB=whole blood; *As of Sept 2024: including non-MS Ph I/II studies
Immunology

Expanding TL1A development program beyond IBD

RG6631 with best-in-disease potential in IBD; Additional trials in atopic dermatitis and MASH to initiate in Q1 2025
TL1A implicated in inflammatory and fibrotic processes1,2 RG6631 (anti-TL1A) development program
DR3 Receptor DR3 DR3
Receptor Receptor

Indication Development stage Status

Gastroenterology
Ulcerative colitis FPI achieved in Q3’24

IL-23, IL-1β IL-17, IL-22 TNF-α, IFN-γ Rheumatology

DR3
DR3
Crohn‘s disease FPI expected Q1’25
Inflammation Receptor
Receptor
Pulmonary fibrosis
TL1A Atopic dermatitis Initiation in Q1’25
Dermatology
Proliferation of
IL-13
inactive TREG
Hepatobiliary MASH Initiation in Q1’25
DR3
Receptor

Fibrosis Ph I Ph II Ph III
TGF-β, IL-6 Fibrosis

• TL1A binds and activates the DR3 receptor, stimulating downstream inflammation • Ph III in UC ongoing; Ph III in CD with FPI expected Q1
and fibrosis processes • Initiating Ph IIb trial in atopic dermatitis and Ph Ib trial
• TL1A is dysregulated in patients with immune-mediated diseases, with clinical and in MASH in Q1’25
translational links to IBD, rheumatoid arthritis amongst others • Continuing to explore additional indications
• Non-clinical and translational studies demonstrated its involvement in • Added anti-p40/TL1A bi-specific antibody to
pathogenesis of fibrotic conditions pipeline*; Ph II in IBD to initiate in 2025
*Global collaboration with Pfizer; 1 Xu WD, Li R, Huang AF. Role of TL1A in Inflammatory Autoimmune Diseases: A Comprehensive Review. Front Immunol. 2022 Jul 14;13:891328. doi: 10.3389/fimmu.2022.891328. PMID: 35911746; 2 Herro R, et al.
TL1A Promotes Lung Tissue Fibrosis and Airway Remodeling. J Immunol. 2020 Nov 1;205(9):2414-2422. doi: 10.4049/jimmunol.2000665. Epub 2020 Sep 21. PMID: 32958689; PMCID: PMC7577982.; PMCID: PMC9329929; TL1A=tumor necrosis
factor-like cytokine 1A; DR3=dopamine 3; IBD=inflammatory bowel disease; UC=ulcerative colitis; CD=Crohn’s disease; MASH=metabolic dysfunction-associated steatohepatitis 14
Immunology

Astegolimab is a potential FIC anti-ST2 addressing all COPD patients

Phase IIb and Phase III pivotal results expected in 2025
COPD patient population1 PIIb (ALIENTO) / Ph III (ARNASA) trial design

Eosinophil (EOS)* Smoking status

Astegolimab SC Q2W
Screening

Follow-up
(n=1290)
20% 30% Patients with R Astegolimab SC Q4W
High Current moderate to
70% severe COPD
1:1:1
Placebo
80% Low Former

Week 0 Week 52 Week 62

• Near-term biologics in COPD are focused on EOS high or former smokers only
• Astegolimab pivotal trials enrolled broad patient population including former and current smokers, and EOS low to high
• Astegolimab has the potential to address neutrophilic inflammation as well as eosinophilic inflammation that could be key to reducing
exacerbations across a broader population of patients
• Early results show benefit in key endpoints throughout broad patient populations2
• Ph IIb (ALIENTO) and Ph III (ARNASA) pivotal results expected 2025

1 Global strategy for prevention, diagnosis and management of COPD: 2023 report; 2 Yousuf et al. Lancet Respir. Med. 2022;10 (5):469-77; *EOS high defined as ≥300 eosinophil cells per microliter of blood and EOS low defined as
<300 eosinophil cells per microliter of blood; FIC=first in class; COPD=chronic obstructive pulmonary disease; SoC=standard of care; SC=subcutaneous; Q2/4W=every 2/4 weeks; EOS=eosinophils 15
Ophthalmology

UME/DME: Vamikibart, first IL-6 in ophthalmology with data in 2025

Addressing the inflammatory component (IL-6) in macular edema
Retinal vascular disorders portfolio Vamikibart Ph I (DOVETAIL) in UME: Improved vision and retinal thickness
in all dosing cohorts1
Change from baseline in BCVA Patients with absence of retinal fluid

Mean (SE) change from baseline in

Ph I Ph II Ph III

BCVA (letters)
Vabysmo POYANG (CNV)

Susvimo PAGODA/PAVILION (DME/DR)

vamikibart SANDCAT/MEERKAT (UME) 2025

BARDENAS/ALLUVIUM
vamikibart Weeks
(DME)

satralizumab SatraGO-1/2 (TED) • Vamikibart inhibits all known forms of IL-6 signaling; specifically designed for intraocular use
and optimized for a rapid systemic clearance
OpRegen GA

BURGUNDY
• 25-36% of patients gained 15 letters or more at week 12
zifibancimig
VEGF-Ang2 DutaFab (nAMD)
• All doses of vamikibart were well tolerated across all patients, with no treatment-related
Filed
serious AEs, sustained IOP increase, or new cataracts
• Vabysmo PFS: EU approval achieved • Ph III (SANDCAT/MEERKAT) trials in UME ongoing, data expected 2025
• Susvimo in DME/DR: US filing accepted • Ph II (BARDENAS/ALLUVIUM) trials in DME ongoing
1. Sharma et al. ARVO 2023; UME/DME=uveitic /diabetic macular edema; PFS=pre-filled syringe; TED=thyroid eye disease; GA=geographic atrophy; CNV=choroidal neovascularization; IOP=intraocular
pressure; IL-6=interleukin-6; AE=adverse event; BCVA=best-corrected visual acuity; SE=standard error; IRF=intraretinal fluid; SFR=subretinal fluid 16
Cardiovascular, Renal & Metabolism

Obesity: Potential to differentiate through unique combinations

Accelerating our broad portfolio of assets to address significant unmet need
Obesity portfolio Roche’s obesity pipeline
Unmet need Differentiation strategy

Ph I Ph II
Efficacy / safety by NME
CT-388 103/104 (Obesity +/- T2D)
Ph I cohort 13 Impact on Improved
data Q4 ‘24
comorbidities convenience
004 (T1D w. OW/OB as adjunct Ph II data
CT-868
treatment) H2 2025
Combinations & comorbidities
201 (Obesity Ph I T2D
CT-996 (FPI 2025)
+/- T2D) data 2025 Improved tolerability Improved durability
CT-173 Obesity
(PYY analogue) (FPI 2025) Holistic patient solutions
Combo study
GYM 329 Obesity
(FPI 2025)
Muscle preservation Advanced diagnostics
Market segmentation

• Pipeline of potentially differentiated assets • CT-388 and CT-996 with BIC potential, as well as CT-868 with BIC/FIC potential in OW/OB
• Positive Ph I data for CT-388 & CT-996 patients with T1D, based on Ph I results
shared at EASD • Obesity market expected to segment by e.g. comorbidities, weight loss goal, oral vs SC
• CT-868 Ph II data expected in H2 2025 • Combination potential with Roche assets in several TAs; expansion into adjacent indications
• CT-173 Ph I in obesity to initiate in 2025 • SC devices in development; synergies with Roche Diagnostics Diabetes & Digital Health solutions

T2D=type-2 diabetes; T1D=type-1 diabetes; OW=overweight; OB=obese; FPI=first patient in; BIC/FIC=best-/first-in-class; SC=subcutaneous 17
Cardiovascular, Renal & Metabolism

Hypertension: Zilebesiran has best-in-disease potential

Ph III CVOT to be initiated in 2025, gated on results of KARDIA-3
Ph II (KARDIA-3): Combination Study in High CV Risk1 Development program

Zilebesiran 600 mg SC Q6M

Cohort A Ph I Ph II Ph III
(N~270, Primary Endpoint:
Screening Zilebesiran 300 mg SC Q6M
n=90/arm) • Change at Month 3 in seated office SBP
(45 days):
Placebo
Maintain stable Secondary Endpoints Include:
Zilebesiran 600 mg SC Q6M KARDIA-1
R

background
anti- • Change at Month 3 and Month 6 in 24-hour
hypertensive Cohort B Zilebesiran 300 mg SC Q6M mean SBP and DBP, assessed by ABPM
regimen (N~60-120,
KARDIA-2
• Change at Month 3 in seated office DBP
n=15-30/arm) Zilebesiran 150 mg SC Q6M
• Change at Month 6 in seated office SBP and
Placebo KARDIA-3 FPI Q2 2024
DBP
6-month double-blind treatment period: • Change in serum AGT
Continue background antihypertensive regimen CVOT based on KARDIA-3 Exp. FPI H2 2025
aHTN intensification allowed only after M3

• Ph II (KARDIA-1): Monotherapy in mild/mod hypertension; primary endpoint of reduction of 24-h mean systolic blood pressure at 3 months met
• Ph II (KARDIA-2): Add-on to 1 SoC in uncontrolled hypertension; primary endpoint of systolic blood pressure reductions in all arms at month 3 met
• Ph II (KARDIA-3): FPI 2024; Cohort A fully enrolled (results will inform pivotal Ph III trial design); Cohort B currently enrolling
• Ph III (CVOT): Composite MACE endpoint in uncontrolled hypertension at high CV risk, to deliver robust label and access with CV outcomes
benefits at launch; Potential for expansion to other CV indications
1 NCT06272487; aHTN=antihypertensive; ABPM=ambulatory blood pressure monitoring; D/SBP=diastolic/systolic blood pressure; SoC=standard of care; CV=cardiovascular; CVOT=CV outcomes
trial; MACE=major adverse cardiovascular events; R=randomization; M=month; SC=subcutaneous; Q6M=every 6 months; QD=daily; zilebesiran in partnership with Alnylam Pharmaceuticals 18
Delivering on the Pharma Ambition

Accelerating R&D Excellence

Looking ahead

19
Accelerating R&D Excellence
We are implementing six solutions to achieve top quartile performance

Adopt a unified portfolio Transform our portfolio Access the best external
framework management & governance innovation

Introduce the ‘Bar’ to recognize assets Reconfigure end-to-end governance to Identify and bring in exciting external
with transformative potential meet the ‘Bar’ assets which clear the ‘Bar’

Embrace ambitious R&D Evolve our R&D engine and Align our incentives with the
objectives invest in its excellence new R&D strategy

Set bold R&D objectives linked to Invest in technologies and platforms Link our R&D productivity objectives to
Pharma ambition that enable top-tier R&D productivity individual and team performance
Focus for today 20
The Bar is applied to each asset entering and progressing in the portfolio
Applying rigor to our R&D resource allocation

Follow the science Intentional focus

in end-to-end disease areas where we develop depth of
with emphasis on breakthrough innovation and
patient value + experience and operational scale to deliver transformative
medicines

The Bar

Answers a clear & Engages a Possesses worthy Achieves meaningful Unlocks a path to
addressable unmet ‘foundational pharmacologic therapeutic value
need target’ characteristics differentiation

21
‘Fast-track’ of selected programs with exceptional potential
Material progress achieved across all three programs since Pharma Day

Asset Acceleration Progress since Pharma Day (Sep. 2024)

anti-TL1A • Accelerated Ph III recruitment
Inflammatory Bowel Disease1 Ph III • Go decisions for additional indications
Atopic Dermatitis Ph II • Preparing to initialize Ph II in atopic dermatitis and Ph I in MASH in
MASH Ph I Q1 2025

Trontinemab • Frontloading activities to start Ph III in H2 2025, pending Ph I/II

Alzheimer’s Disease Ph III (BrainshuttleTM AD) readout

CT-388 • Ph II recruitment completed within four months

Obesity Ph II & Ph III • Frontloading activities to start Ph III, with Ph II interim data in 2025
informing final trial design

1 Includes both Ulcerative Colitis and Crohn’s Disease; TL1-A=tumor necrosis factor-like cytokine 1A 22
We have materially reshaped our pipeline through Partnering and M&A
Key deals completed to complement our pipeline across the Pharma focus therapeutic areas

Dual GLP-
Molecular Allogeneic
1/GIP RA & siRNA Anti-TL1A in
Wnt agonist glue ADCs in CDKi CAR-Ts in
PYY targeting inflammatory
in degraders in solid tumors, portfolio in oncology,
analogue in AGT in bowel
retinopathies oncology and incl. SCLC breast cancer immunology &
obesity hypertension disease
neurology neurology
±diabetes

Ophthalmology Oncology Oncology CVRM CVRM Immunology

Pre-clinical Pre-clinical Ph I Ph I Ph I Ph II Ph II Ph III

CVRM=cardiovascular, renal & metabolism; siRNA=small interfering RNA; AGT=angiotensinogen; TL1A=Tumor necrosis factor-like cytokine 1A; GLP-1=glucagon-like peptide-1; GIP=glucose-dependent
insulinotropic polypeptide; RA=receptor agonist; CDKi=cyclin dependent kinase inhibitor; ADC=antibody-drug conjugate; WNT=wingless-related integration site; CAR-T=chimeric antigen receptor T- cell 23
Delivering on the Pharma Ambition

Accelerating R&D Excellence

Looking ahead

24
2024: Key newsflow*
Ph II prasinezumab missed primary endpoint, but suggests possible benefit in early-stage Parkinson’s disease
Compound Indication Milestone
Alecensa Adjuvant ALK+ NSCLC US/EU approval
inavolisib + palbociclib + fulvestrant 1L PIK3CA-mut HR+ BC US/EU filing
Tecentriq Subcutaneous administration US/EU approval
PiaSky (crovalimab) PNH US/EU approval
Elevidys DMD EU filing
Ocrevus 6m SC RMS/PPMS US/EU approval
Regulatory
Susvimo DME/DR US filing
Vabysmo RVO EU approval
Xolair Food allergy US approval
tiragolumab + Tecentriq 1L PDL1+ NSCLC Ph III SKYSCRAPER-01
Venclexta + azacitidine 1L high risk MDS Ph III VERONA 2025
Columvi + GemOx 2L+ DLBCL Ph III STARGLO
Lunsumio + Polivy 2L+ DLBCL Ph III SUNMO 2025
Gazyva Lupus nephritis Ph III REGENCY
Enspryng generalized Myasthenia gravis Ph III LUMINESCE ( ) Not to be filed
Evrysdi + GYM 329 SMA Ph II MANATEE 2025
prasinezumab Parkinson’s disease Ph IIb PADOVA Next steps TBD
(CTAD)
Clinical results trontinemab Alzheimer’s disease Ph I/II BrainshuttleTM AD
vamikibart DME Ph II BARDENAS/ALLUVIUM 2025
ASO factor B Geographic atrophy Ph II GOLDEN STUDY
zilebesiran Hypertension Ph II KARDIA-2
CT-388 Obesity w/wo T2D (QW SC) Ph I
CT-868 T1D w. Obesity (QD SC) Ph II 2025
CT-996 Obesity w/wo T2D (QD oral) Ph I

● Itovebi (Inavolisib) US approval in1L PIK3CA-mut HR+ BC ● Columvi in 2L+ DLBCL filed with global regulators
Additional 2024 newsflow: ● Tecentriq EU approval in 1L NSCLC ineligible for platinum-based Tx ● Xofluza positive Ph III (Centerstone) in influenza transmission
*Outcome studies are event-driven: timelines may change ● Tecentriq + lurbinectedin positive Ph III (IMforte) in ES-SCLC maintenance 25
2025: Significant key newsflow ahead*
Compound Indication Milestone
inavolisib + palbociclib + fulvestrant 1L PIK3CA-mut HR+ BC EU approval
Columvi + GemOx 2L+ DLBCL US/EU approval
Lunsumio SC 3L+ FL US/EU approval
Elevidys DMD EU approval

Regulatory Gazyva Lupus nephritis US/EU filing; US approval

Susvimo DME/DR US approval
Susvimo nAMD EU filing
giredestrant + palbociclib 1L ER+/HER2- mBC Ph III persevERA
giredestrant + everolimus post CDKi ER+/HER2- mBC Ph III evERA
Lunsumio + Polivy 2L+ DLBCL Ph III SUNMO
Lunsumio + lenalidomide 2L+ FL Ph III CELESTIMO
Venclexta + azacitidine 1L MDS Ph III VERONA
PiaSky aHUS Ph III COMMUTE-a
Ocrevus HD RMS/PPMS Ph III MUSETTE/GAVOTTE
fenebrutinib RMS Ph III FENhance 1/2
fenebrutinib PPMS Ph III FENtrepid
astegolimab COPD Ph II/III ARNASA/ALIENTO

Clinical results Gazyva SLE Ph III ALLEGORY

vamikibart UME Ph III SANDCAT/MEERKAT
NXT007 Hemophilia A Ph II
trontinemab AD Ph I/II BrainshuttleTM AD
Evrysdi + GYM 329 SMA Ph II MANATEE
GYM 329 FSHD Ph II MANOEUVRE
zilebesiran Hypertension with high CV risk Ph II KARDIA-3
CT-868 (QD SC) T1D with Obesity Ph II
CT-996 (QD oral) Obesity with T2D Ph I (Arm 3)

*Outcome studies are event-driven: timelines may change 26

A solid base to deliver future growth
Pipeline and business development to add significant upside potential

illustrative
Business development
• BD to accelerate pipeline portfolio
• In-house pipeline with upside
Pharma pipeline potential

• On-market Pharma portfolio to

deliver growth until 2027
Sales

• No patent cliff ahead

Pharma1 • COP margins at least stable

• Diagnostics growth driven by on-

market portfolio and key launches
Diagnostics Diagnostics • Mid- to high-single digit sales growth
• COP growth ahead of sales growth
2024E 2025E 2026E 2027E 2028E 2029E 2030E

Note: Graph is purely conceptual to outline portfolio trends; 1 Pharma: On-market portfolio including young portfolio (products launched since end of 2015); COP=core operating profit 27
Unlocking the next era of innovation

● Young portfolio continues to drive growth in the near- to mid-

Delivering on our Pharma
1 Ambition ●
term
Strengthening our pipeline of transformative medicines
● Allocating significant resources to our focus therapeutic areas

● Applying “The Bar” to each asset entering and progressing in

2 Accelerating R&D Excellence

●
the portfolio
Fast-tracking selected programs of exceptional value
● Accessing the best external innovation

● Significant newsflow and pipeline turnover expected in 2025

3 Looking ahead
●
and beyond
12 pivotal Ph III readouts
● Multiple Ph III starts for novel NMEs

28
Doing now what patients need next