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Two products with blockbuster potential and a pipeline of first- or best-in-class drugs J. P. Morgan Healthcare Conference 2026 – January 2026
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The information in this presentation contains certain "forward-looking statements", relating to the company's business, which can be identified by the use of forward-looking terminology such as “intend”, "estimates", "believes", "expects", "may", "are expected to", "will", "will continue", "should", "would be", "seeks", "pending" or "anticipates" or similar expressions, or by discussions of strategy, plans or intentions. Such statements include descriptions of the company's investment and research and development programs, milestones, business development activities and anticipated expenditures in connection therewith, descriptions of new products expected to be introduced by the company and anticipated customer demand for such products and products in the company's existing portfolio. Such statements reflect the current views of the company with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements of the company to be materially different from any future results, performances or achievements that may be expressed or implied by such forward-looking statements. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected. Rounding differences in the numbers presented may occur. Idorsia has transferred its rights for aprocitentan, cenerimod and selatogrel to Idorsia Investments SARL to allow the repayment of notes issued in connection with the repurchase offer completed in August 2025. More details on the transfer can be found in the press release issued on May 21, 2025, and on the exchange offer in the press release issued on August 27, 2025. Forward-looking statements Idorsia at J. P. Morgan Healthcare Conference 2026 | January 20262
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Idorsia is a unique opportunity for value creation Two products with blockbuster potential Expanding footprint through strategic alliances A pipeline of first- or best-in-class drugs 3 Idorsia-discovered drugs approved 3 Additional Phase 3 assets 3 Proof-of-concept trials initiating Multiple assets designed for multi-billion $ peak sales potential Idorsia at J. P. Morgan Healthcare Conference 2026 | January 20263
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Value creation across near-term revenue and long-term innovation Two products entering value- acceleration phase Pipeline poised to deliver the next generation of breakthrough medicines Idorsia at J. P. Morgan Healthcare Conference 2026 | January 20264
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Insomnia significantly impacts productivity and 39-45 days of presenteeism annually 11-18 days of absenteeism annually 44-54 days of overall productivity loss annually 75–88% increase in the odds of an accident leading to permanent work disability $170.6 B EU12 $19.6 B Canada $207.5 B US $19.2 B Australia $417 B Global annual GDP loss ...and an escalating public health crisis of benzodiazepine addiction Hafner M., Romanelli R.J., Yerushalmi E. & Troxel W.M. The Societal and Economic Burden of Insomnia in Adults: An International Study. Santa Monica, CA: RAND Corporation, 2023. public health Idorsia at J. P. Morgan Healthcare Conference 2026 | January 20265
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Only QUVIVIQ offers restorative sleep and revitalized days Idorsia at J. P. Morgan Healthcare Conference 2026 | January 20266
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QUVIVIQ is the only therapy to demonstrate improvement in daytime functioning Daridorexant 50 mg (n=310) Placebo (n=310) Improvement IDSIQ© sleepiness domain 14 16 18 20 22 24 Baseline Month 1 Month 3 Mean of observed values (min) [± SEM] * † 10 12 14 16 18 20 22 Baseline Month 1 Month 3 Mean of observed values (min) [± SEM] IDSIQ© mood domain 015 20 25 30 35 Baseline Month 1 Month 3 Mean of observed values (min) [± SEM] IDSIQ© alert/cognition domain 0 Mean of observed values (min) [± SEM] Mean of observed values (min) [± SEM] Mean of observed values (min) [± SEM] *p<0.0001 vs placebo; †p=0.0002 vs placebo. IDSIQ©, Insomnia Daytime Symptoms and Impacts Questionnaire; SEM, standard error of the mean. Mignot E, et al. Lancet Neurol 2022; 21: 125–39 Idorsia makes daridorexant available in the US, Germany, Italy, Spain, Switzerland, the UK, Canada, Austria, France, Sweden, and Finland under the tradename QUVIVIQ. In addition, daridorexant is approved throughout the European Union. 0 Idorsia at J. P. Morgan Healthcare Conference 2026 | January 20267
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Licensed in Japan/APAC Licensed in China Licensing in progress in LATAM Licensed in Israel Partner selection ongoing in CEE Europe Allschwil, Switzerland Paris, France Munich, Germany Milan, Italy Madrid, Spain Stockholm, Sweden London, United Kingdom North America Radnor, Pennsylvania USA Montreal, Canada Partner selection ongoing in MENA We have built QUVIVIQ into a global brand... Idorsia makes daridorexant available in the US, Germany, Italy, Spain, Switzerland, the UK, Canada, Austria, France, Sweden, and Finland under the tradename QUVIVIQ. In addition, daridorexant is approved throughout the European Union. Idorsia at J. P. Morgan Healthcare Conference 2026 | January 20268
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…by advancing a new standard of care for insomnia Japan > 30% Share of insomnia market in Japan* 2023 Jan 2025 Oct 22% 34.5% China: Strong early uptake in a large insomnia market, led by Simcere, with ~100,000 patients treated within two months of launch Europe: Rapid market share growth, with Germany at 5.7% and France at 7.6%, highlighting substantial potential *IQVIA MIDAS - October 2025 US: A large, underserved market with high dissatisfaction with current therapies, creating a compelling opportunity for disruption Idorsia at J. P. Morgan Healthcare Conference 2026 | January 20269
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Clear path to global blockbuster scale Idorsia makes daridorexant available in the US, Germany, Italy, Spain, Switzerland, the UK, Canada, Austria, France, Sweden, and Finland under the tradename QUVIVIQ. In addition, daridorexant is approved throughout the European Union. Potential US descheduling of the DORA class to expand access in the world’s largest insomnia market Adoption of new sales and distribution models, including digital engagement and online prescription fulfillment Access to large, underserved insomnia markets (MENA, LATAM, Asia, CEE) through strategic partnerships * On-track to meet the 2025 sales guidance US exclusivity to at least 2036 Idorsia at J. P. Morgan Healthcare Conference 2026 | January 202610 CHF million 130* 60.6 30.9 202520242023 Idorsia-led product sales 91.4 9M
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Daridorexant: A potential first-in-class option for pediatric insomnia Phase 2 dose-finding studySignificant unmet need No medications approved for children in the US and Canada Pediatric Investigational Plan (PIP) with EMA and Initial Pediatric Study Plan (iPSP) with FDA Fully recruited – results expected in early Q2 2026 Includes patients with Autism Spectrum Disorder (ASD) and Attention- Deficit/Hyperactivity Disorder (ADHD) Children with neurodevelopmental disorders display more severe symptoms than the general population Estimated prevalence of 10% to 30% in the US alone * *Medalie L et al. Pediatric sleep medicine, Springer, 2021. 333 -339 Idorsia at J. P. Morgan Healthcare Conference 2026 | January 202611
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The first antihypertensive targeting the endothelin system Now approved in US, EU, UK, Switzerland, and Canada The rights for aprocitentan are transferred to Idorsia Investments SARL to allow the repayment of notes issued in connection with the repurchase offer completed in August 2025. More details on the transfer can be found in the press release issued on May 21, 2025, and on the exchange offer in the press release issued on August 27, 2025. Idorsia at J. P. Morgan Healthcare Conference 2026 | January 202612
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Uncontrolled hypertension: a multi-billion-dollar market opportunity • 1.4 billion globally living with hypertension1 • ~26 million US patients not adequately controlled despite treatment2 • When uncontrolled, hypertension leads to higher risk of stroke, kidney failure, heart failure, or heart attack3 • Many patients will never be controlled unless underlying pathology of endothelin-mediated hypertension is addressed 1) World Health Organization, 2025. 2) Komodo claims; 3 -Year Dx: Sep’20 - Aug’23; 1-Year Rx: Sep’22 - Aug’23. 3) McEvoy JW, et al. EurHeart J. 2024;45(38):3912-4018. Idorsia at J. P. Morgan Healthcare Conference 2026 | January 202613
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TRYVIO directly addresses this unmet need ... Uniquely placed in the treatment landscape PRECISION Study conducted in patients with truly resistant hypertension First and only dual ERA approved for systemic hypertension Indicated for patients not adequately controlled on other drugs Clinical differentiation Excellent efficacy & safety – consistent across all patient subgroups • Broad inclusion including CKD patients with eGFR as low as 15 mL/min • All patients on 3, 4, 5+ BP drugs at screening • 15.4 mmHg systolic BP reduction at 4 weeks on top of standardized therapy • No increased risk of hyperkalemia, decline in eGFR, or orthostatic hypotension • MOA allows for safe addition to therapies targeting RAAS pathway Idorsia at J. P. Morgan Healthcare Conference 2026 | January 202614
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…with a path to $5B peak sales ~26 Million eligible patients ~8-13 Million not well- controlled patients • Geographic expansion • Patent extension potential beyond US exclusivity of 2034 • Expanded indications Upside potential ~7 Million readily identifiable patients ~0.8-1.6 Million accessible patients ~$5 Billion Strong Access and payer support of WAC $775 Idorsia at J. P. Morgan Healthcare Conference 2026 | January 202615
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Excellent feedback from the market Utilized in 20 Top hypertension centers Key institutions we are engaged with include Columbia, Cedars Sinai, Stanford, and Duke Resistant hypertension has complexities... One patient had a clear need for additional medication, he normalized by adding TRYVIO! “ ” Primary Care Physician I’m seeing ~10 to 15 mmHg drop in BP. It’s well tolerated, and I plan to expand use within CKD population. “ ” Nephrologist ~10 to 15 mmHg drop in BP. Patients on multiple other medications are tolerating TRYVIO well. “ ” CardiologistNephrologist Now with TRYVIO we have for the first time the option to treat patients down to an eGFR of 15 and not worry about hyperkalemia. “ ” Idorsia at J. P. Morgan Healthcare Conference 2026 | January 202616 Prescriber feedback confirms PRECISION- like double-digit BP reductions and good tolerability across patient groups
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Value creation across near-term revenue and long-term innovation Two products entering value- acceleration phase Pipeline poised to deliver the next generation of breakthrough medicines Idorsia at J. P. Morgan Healthcare Conference 2026 | January 202617
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Late-stage pipeline partnership with Viatris enables long-term value creation Cenerimod for systemic lupus erythematosus and lupus nephritis • A highly selective S1P1 receptor modulator developed as a novel approach for the treatment of SLE • Two Phase 3 studies ongoing with first read-out by the end of 2026 Selatogrel for acute myocardial infarction • A potent, fast-acting, reversible, and highly selective P2Y12 inhibitor, being developed as a self- administered treatment of AMI • Phase 3 event-driven study currently enrolling a target of 14K patients Idorsia at J. P. Morgan Healthcare Conference 2026 | January 202618
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Lucerastat has the potential to redefine the treatment of Fabry disease Novel mechanism of action Idorsia at J. P. Morgan Healthcare Conference 2026 | January 202619 Market disruptor: Potential for end-organ protection All mutations: Treat all patients irrespective of the gene mutation Oral: Alternative to intravenous ERT $4 Billion market: Predicted to affect ~21’000 people in key markets by 2034 Phase 3 MODIFY-OLE study: some patients treated >6 years provides rationale for further investigation
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A pipeline of first- or best-in-class drugs Compound / Mechanism of action / Target indication Phase 1 Phase 2 Phase 3 Lucerastat Oral potential for organ protection in Fabry disease Regulatory pathway to registration is in discussion with the FDA IDOR-1117-2520 First-in-class selective CCR6 receptor antagonist psoriasis Proof-of-concept recruiting, readout expected in Q1 2027 ACT-1004-1239 First-in-class CXCR7 receptor antagonist progressive multiple sclerosis Proof-of-concept in preparation. Initiate in Q1 2026, readout expected in Q2 2028 ACT-777991 First-in-class CXCR3 receptor antagonist vitiligo Proof-of-concept in preparation. Initiate around mid-2026, readout expected in 2027 IDOR-1134-2831 Synthetic glycan vaccine Clostridium difficile infection Phase 1 data showing safety and immunogenicity – clinical validation for Idorsia’s revolutionary synthetic glycan vaccine technology More information on other Idorsia portfolio assets is available on www.idorsia.com Lucerastat, IDOR-1117-2520, ACT-1004-1239, ACT-777991, and IDOR-1134-2831 are investigational, in development and not approved or marketed in any country. Idorsia at J. P. Morgan Healthcare Conference 2026 | January 202620
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Financially positioned to drive growth *Liquidity includes: 1) cash and cash equivalents of $80 million as of Sep 30, 2025 , 2) net proceeds of $79 million from the offering of new shares successfully completed on October 10, 2025, and 3) remaining undrawn $100million available under the new money facility. As of year-end 2025, Idorsia Ltd had 250.7 M common shares outstanding. USD $258m Liquidity on hand* Cash runway into 2028 USD $262m 2026e revenue outlook for continued topline growth FY 2025 reporting on February 26, 2026 – on-track to deliver on guidance Originally reported and guided in CHF 1 CHF = 1.245 USD (Jan 9, 2026) Idorsia at J. P. Morgan Healthcare Conference 2026 | January 202621
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Clear areas of focus and multiple catalysts upcoming in 2026 Q1 Lucerastat Phase 3 OLE data and registration path to be shared at WorldSymposium 2026 Q1 CXCR7 antagonist PoC initiation in MS Mid-year C.diff vaccine Deliver results High-dose cohort Q2 Daridorexant Deliver results Phase 2 Pediatric insomnia Mid-year CXCR3 antagonist PoC initiation in vitiligo Year-end Cenerimod Deliver results (Viatris) registration study R&D milestonesActive areas of focus Continued global expansion of QUVIVIQ through partnerships Adoption of new sales and distribution models for QUVIVIQ QUVIVIQ descheduling in the US Maximize the value of TRYVIO/JERAYGO Expand BD efforts Advance lucerastat registration Initiate daridorexant US label- enabling IDSIQ study Idorsia at J. P. Morgan Healthcare Conference 2026 | January 202622 IDSIQ: Insomnia daytime symptoms and impacts questionnaire
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Idorsia is a unique opportunity for value creation Two products with blockbuster potential Expanding footprint through strategic alliances A pipeline of first- or best-in-class drugs 3 Idorsia-discovered drugs approved 3 Additional Phase 3 assets 3 Proof-of-concept trials initiating Multiple assets designed for multi-billion $ peak sales potential Idorsia at J. P. Morgan Healthcare Conference 2026 | January 202623