Slides
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hik Galenica maintains its track record of consistent growth Half Year Results 2026 August 6 , 2026 Galexis Galenica
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Highlights and Strategic Update 1
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Continuous growth, strong strategy execution CHF 2.14 billion Strong sales growth CHF 117.7 million EBIT on track
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Our focus in the first half of 2026 Market share gains in pharmacy business thanks to omni-channel Consultation plus established in all Galenica pharmacies Streamlined home care business keeps growing Integration of Labor Team on track
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Consultation plus established in all Galenica pharmacies Health consultations 193,000 vaccinations 25,000 policy holders eligible for cost coverage 1,000,000 Arzt
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Omni-channel strategy as basis for future growth in pharmacy business Prescription manager user Arzt OTC liberalisation as a chance Click-and-Collect growth Customer retention Efficiency gains for pharmacies
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Our focus in the first half of 2026 Market share gains in pharmacy business thanks to omni-channel Consultation plus established in all Galenica pharmacies Streamlined home care business keeps growing Integration of Labor Team on track
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Our focus in the first half of 2026 Streamlined home care business keeps growing Integration of Labor Team on track Streamlined home care business keeps growing
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Streamlined home care business keeps growing Automation of blister packaging business at Medifilm Integration of Bichsel Home Care and Lifestage Solutions Portfolio optimization of Bichsel and focus on home care business
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Our focus in the first half of 2026 Streamlined home care business keeps growing Integration of Labor Team on track Streamlined home care business keeps growing I ntegration of Labor Team on track
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Our focus in the first half of 2026 Integration of Labor Team on track I ntegration of Labor Team on track
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Integration of Labor Team on track All large-scale tests fully automated Focus on synergies and combined product offering for physicians Haematology Clinical chemistry Immunology Anatomical pathology Microbiology Core Lab New
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Transformation continues in the second half of 2026 Expected efficiency gains from wholesale modernisation Integrating our network for more synergies and improved product offering
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Financial Results Half Year 2026 2
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Drugstores CHF 29.0 million (-2.9%) 2.7 million packs (-4.3%) Swiss pharmaceutical market June 2026 43.6% 5.2% 26.8% 0.7% 23.6% Physicians CHF 1,092.4 million (+3.1%) 22.8 million packs (-0.1%) Hospitals CHF 962.4 million (+0.2%) 7.7 million packs (+1.2%) Local Pharmacies CHF 1,777.6 million (+5.4%) 65.0 million packs (-0.7%) Total market growth CHF 4,074.7 million (+3.7%) 99.1 million packs (-0.6%) Source: IQVIA APO/SD/DRO/SPI Index, Swissmedic A, B, D Medicines Swissmedic lists A, B, D, sold from suppliers and wholesalers to hospitals, physicians, pharmacies and drugstores © IQVIA – Swiss pharmaceutical market June 2026 Mail-order Pharmacies CHF 213.3 million (+11.2%) 0.8 million packs (-8.3%)
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+6.9% Prescription medicine List A & B Non-prescription medicine List D Other List E / free assortment -0.3% +0.5% Source: IQVIA PharmaTrend for pharmacies and drugstores in Switzerland, streetprices © IQVIA – Consumer Health market June 2026 Total market growth CHF 3’342 million (+4.2%) Local pharmacy market June 2026
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1,995 867 1,618 2,136 967 1,685 Galenica Group Products & Care Logistics & IT H1 2025 H1 2026 Galenica Group Strong sales growth supported by acquisition of Labor Team +7.1%Net sales (in million CHF) +11.5% +4.2% Growth w/o Labor Team +4.0% +4.3% +4.2%
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1,473 713 757 2025 H1 2025 H1 2026 Pharmacies Omni-Channel Growth driven by prescription medicines and acquisitions Net sales (in million CHF) +6.2% Expansion impact1 of +1.9% due to acquisition of majority stake in puravita, portfolio of local pharmacies expanded by 3 locations Generics substitution rate remains with 79.6% at high level (78.1% at Dec 2025). 1) The effect of net expansion is calculated only including point of sales and business activities without a full year period comparison (acquisitions, openings and closure of pharmacies)
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158 80 76 36 21 15 194 101 91 2025 H1 2025 H1 2026 Products & Brands Seasonal effects burden sales development Net sales (in million CHF) -9.8% Swiss market International -5.1% -27.8% Swiss market: − Growth of CH market sales1 -2.6% − Market share1 of 10.5% 1) Product sales to end customers of Verfora, Spagyros and Padma products (like-for-like, streetprices), IQVIA PharmaTrend for pharmacies and drugstores in Switzerland, Consumer Health market YTD June 2026
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120 58 63 2025 H1 2025 H1 2026 Services & Production Strong sales growth in homecare business Net sales (in million CHF) +9.4% Consistent, strong growth with services for homecare organizations and nursing homes
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185 92 90 2,136 1’027 1’092 934 461 465 3,255 1,580 1,647 2025 H1 2025 H1 2026 Wholesale Further market share gains in pharmacies segments Net sales (in million CHF) -2.0% +4.3% Pharmacies Physicians Others +1.0% +6.3%
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81.0 81.0 93.3 30.2 -5.4 24.8 25.3 109.9 104.5 117.7 H1 2025 one-off items H1 2025 w/o one-off H1 2026 Strong EBIT growth excluding prior-year one-off effects EBIT adjusted1) (in million CHF) ROS (in %) 1 without effects of IAS 19, IFRS 16, IFRS3 and one-off effects, see chapter “Alternative performance measures” of the Half year report 2026 2 One-off effects of CHF 5.4 million relate to a new legal assessment of the ComCo sanction involving HCI and Markant. 3 Restated: reallocation of internal IT services from the Logistics & IT segment to Group Services 2 1.9% 9.3% 9.3% 9.6% 1.5% 1.5% Logistics & IT Products & Care +15.2% +2.0% +12.6% 3
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in million CHF H1 2025 H1 2026 Change Cash flow from operating activities before working capital changes adjusted1 125.8 126.7 +0.8 Working capital changes -43.5 -93.8 Cash flow from operating activities adjusted1 82.4 32.9 -49.5 Investments in tangible and intangible assets -29.4 -34.4 Cash flow from financial assets -2.5 -3.7 Free cash flow before M&A 50.5 -5.2 -55.7 Cash flow from M&A2 -34.4 -18.9 Free cash flow 16.1 -24.1 -40.2 Cash Flow Statement Cashflow lowered due to seasonal effects 1 Reduced by payment of lease liabilities IFRS16, see chapter “Alternative performance measures” of the Half year report 2026 2 Net cash flow from business combinations and net cash flow from sale of subsidiaries
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1,509 1,465 1,443 675 533 837 2025 H1 2025 H1 2026 Balance sheet Debt coverage shift driven by seasonal WC build Debt coverage adjusted2 in million CHF Net debt adjusted1 Equity adjusted1 2.3x 1 Detail of the adjustments in the Half year report 2026, see chapter “Alternative performance measures” 2 See chapter “Alternative performance measures” of the Half year report 2026 1.9x 2.7x
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Regulatory environment Lab price cuts and OTC liberalisation one year earlier Topic/Initiative Changes since FY 2025 presentation OTC products:1 online trade − Implementation earliest in 2029 instead of 2030 TransAL2 and TarDoc in lab business As part of the FOPH's 2026 cost-containment package, effective H2 2026: − handling fee reduced by CHF 5 − 10% price reduction on the ten highest-revenue lab tests − Mostly offset by Tardoc, where electronic order is already remunerated Revision MiGeL remuneration in Services & Production business − Ongoing incremental revisions regarding artificial nutrition reimbursement. Expected to be effective by 1 January 2027. 1 Swissmedic category D
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Guidance 2026 confirmed Galenica Group net sales +5% to +7% EBIT adjusted1,2 +6% to +8% Dividend for 2026 at least at prior-year level 1 without effects of IAS 19, IFRS 16, IFRS3 and one -off effects, see chapter “Alternative performance measures” of the Half year r eport 2026 2 corresponds +9% to +11% without PY one-off items. The costs associated with the intended closure of Bichsel’s production division will mainly be incurred in the first half of 2026 and are not reflected in the adjusted EBIT 1.
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Well positioned for the second half of 2026
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Q&A
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Disclaimer Disclaimer Galenica Certain statements, beliefs and opinions in this presentation are forward-looking, which reflect the Company’s or, as appropriate, the Company’s directors’ current expectations and projections about future events. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. A multitude of factors including, but not limited to, changes in demand, competition and technology, can cause actual events, performance or results to differ significantly from any anticipated development. Forward-looking statements contained in this presentation regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. As a result, the Company expressly disclaims any obligation or undertaking to release any update or revisions to any forward-looking statements in this presentation as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward-looking statements are based. Neither the Company nor its advisers or representatives nor any of its of their parent or subsidiary undertakings or any such person’s officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this presentation or the actual occurrence of the forecasted developments. You should not place undue reliance on forward-looking statements, which speak only as of the date of this presentation. Disclaimer IQVIA The analyses, their interpretation, and related information contained herein are made and provided subject to the assumptions, methodologies, caveats, and variables described in this report and are based on third party sources and data reasonably believed to be reliable. No warranty is made as to the completeness or accuracy of such third-party sources or data. In all cases where historical results are presented or past performance is described, we note that past performance is not a reliable indicator of future results and performance. Copyright ©2026 IQVIA. All rights reserved. IQVIA® is a registered trademark of IQVIA Inc. in the United States and various other countries.