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Leading antibody science for better futures Investor Presentation February 2026
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© Genmab 2026 Forward looking statement This presentation contains forward looking statements. The words “believe”, “expect”, “anticipate”, “intend” and “plan” and similar expressions identify forward looking statements. All statements other than statements of historical facts included in this presentation, including, without limitation, those regarding our financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to our products), are forward looking statements. Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Such forward looking statements are based on numerous assumptions regarding our present and future business strategies and the environment in which we will operate in the future. The important factors that could cause our actual results, performance or achievements to differ materially from those in the forward looking statements include, among others, risks associated with product discovery and development, uncertainties related to the outcome of clinical trials, slower than expected rates of patient recruitment, unforeseen safety issues resulting from the administration of our products in patients, uncertainties related to product manufacturing, the lack of market acceptance of our products, our inability to manage growth, the competitive environment in relation to our business area and markets, our inability to attract and retain suitably qualified personnel, the unenforceability or lack of protection of our patents and proprietary rights, our relationships with affiliated entities, changes and developments in technology which may render our products obsolete, and other factors. Further, certain forward looking statements are based upon assumptions of future events which may not prove to be accurate. The forward looking statements in this document speak only as at the date of this presentation. Genmab does not undertake any obligation to update or revise forward looking statements in this presentation nor to confirm such statements to reflect subsequent events or circumstances after the date made or in relation to actual results, unless required by law. For Investor audience only. Not for public information or use. Not for promotional use 2
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© Genmab 2026 Two co-owned medicines: EPKINLY® /TEPKINLY® (epcoritamab), TIVDAK ® (tisotumab vedotin) Delivering Genmab’s Next Decade of Sustainable Growth Nine medicines on the market driving revenue growth Three high impact late- stage assets with multiple read-outs in 2026; positioned for potential 2027 launches 3 TIVDAK® is being co-developed and co-promoted by Genmab and Pfizer. EPKINLY® is being co-developed and co-promoted by Genmab and AbbVie For Investor audience only. Not for public information or use. Not for promotional use • Growing revenue, diversified across own & royalty brands • Disciplined investment to advance late-stage pipeline • Significantly profitable; targeting <3x gross leverage by 2027E
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© Genmab 2026 Innovative Pipeline: Genmab Proprietary and Royalty Portfolio Products - Most Advanced Development Phase 4 *See local prescribing information for full indications / safety information Program Dev. by Clinical Phase Regulatory Approval*PHASE 1 PHASE 2 PHASE 3 Epcoritamab (EPKINLY®/TEPKINLY®) Genmab/AbbVie Tisotumab vedotin (Tivdak®) Genmab/Pfizer Rinatabart sesutecan (Rina-S®) Genmab Petosemtamab Genmab GEN1059 (BNT314) Genmab/BioNTech GEN1057 Genmab GEN3018 Genmab GEN1079 Genmab Program Dev. by Clinical Phase Regulatory Approval*PHASE 1 PHASE 2 PHASE 3 Daratumumab/daratumumab hyaluronidase-fihj (DARZALEX®/DARZALEX FASPRO®) J&J Ofatumumab (Kesimpta®) Novartis Amivantamab/amivantamab-vmjw (RYBREVANT®/RYBREVANT FASPRO®) J&J Teclistamab (TECVAYLI®) J&J Talquetamab (TALVEY®) J&J Teprotumumab (TEPEZZA®) Amgen Zenocutuzumab (BIZENGRI®) Partner Therapeutics Amlenetug Lundbeck Mim8 (denecimig) Novo Nordisk Genmab owned products ≥50% Royalty Portfolio For Investor audience only. Not for public information or use. Not for promotional use
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© Genmab 2026 Rina-S® (Gyn-Onc) Petosemtamab (HNSCC) Late-stage Pipeline of Attractive Growth Opportunities 5For Investor audience only. Not for public information or use. Not for promotional use Peak Annual Sales Potential Three late-stage assets with five combined BTDs; positioned for multiple potential 2027 launches >$3Bn >$2Bn Multi-$Bn Epkinly® (Lymphoma) FDA Breakthrough Therapy Designations • Launch in expanded indications expected in 2027 FDA Breakthrough Therapy Designation • Additional Ph 3 start in 2026 • First launch expected in 2027 FDA Breakthrough Therapy Designations • Additional Ph 3 start in 2026 • First launch expected in 2027 Wholly-owned assets addressing solid tumors
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© Genmab 2026 2026: Up to Six Registrational Readouts Enabling 2027 Launches For Investor audience only. Not for public information or use. Not for promotional use Rina-S® • Ph 2 PROC (RAINFOL -01) • H2 2026 EPKINLY® • Ph 3 1L DLBCL (EPCORE® DLBCL-2) • 2026 • Ph 3 2L+ DLBCL mono (EPCORE ® DLBCL-1) January 2026 Petosemtamab • Ph 3 1L r/m HNSCC (LiGeR-HN1) and/or Ph 3 2L/3L r/m HNSCC (LiGeR-HN2) • H2 2026 6 • Ph 3 2L+ DLBCL combo + len (EPCORE® DLBCL-4) • H1 2026 EPKINLY® is being co-developed and co-promoted by Genmab and AbbVie
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© Genmab 2026 RYBREVANT (J&J)TALVEY (J&J)TECVAYLI (J&J) (8% - 10% tiered royalty) • SC formulation approved in US (Mid-single digit royalty) • Strong launch performance in relapsed/refractory setting (Mid-single digit royalty) • Strong launch performance in relapsed/refractory setting Strong Growth Projected for Royalty Medicines Portfolio 7 Net sales (USD)1 2025 2030e $14.35B $20.3B2 $4.43B $6.9B $1.76B $2.7B $670M $2.5B $463M $2.1B $734M3 $3.8B4 Phase 3 program Denecimig (Mim8, Novo Nordisk) Amlenetug (Lundbeck) Phase 3 program, BLA submitted 2025 1. Source: For DARZALEX, TECVAYLI and TALVEY 2025 sales, J&J FY 2025 financial results; for Kesimpta 2025 sales, Novartis FY 2025 financial results; for TEPEZZA 2025 sales, Amgen FY 2025 results; all other sales numbers based solely on Bloomberg Consensus Estimates accessed December 2025 2. Genmab entitled to royalties until 2029 in US and 2031 in RoW: 3. J&J FY 2025 financial results for Rybrevant + Lazcluze 4. Bloomberg consensus for Rybrevant +Lazcluze TEPEZZA (Amgen)Kesimpta (Novartis)DARZALEX (J&J) (Mid-single digit royalty) • Approved in U.S., Europe and Japan (10% royalty) • > $6.0B peak sales potential according to Novartis (12% - 20% royalty excl. Halozyme contribution) • Share gains across all lines of therapy driven by 1L For Investor audience only. Not for public information or use. Not for promotional use Bizengri® (zenocutuzumab) (in US by Partner Therapeutics) Added to portfolio as part of Merus acquisition
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© Genmab 2026 Combination Accelerates Revenue Growth and Diversification Increased scale and diversification of revenue Growing to ~4 owned medicines* 2026e 2030e Illustrative Royalties Royalties Own Products Rina-S® Petosemtamab For Investor audience only. Not for public information or use. Not for promotional use *Subject to results/regulatory approvals Darzalex®, Tecvayli®, Rybrevant®, Talvey®, Development and/or discovery by J&J; Kesimpta®, Development by Novartis; Tepezza®, Development by Amgen; Bizengri® is commercialized in the U.S. by Partner Therapeutics; Epkinly®, Co-development with AbbVie; TIVDAK®, Co- development with Pfizer 8 Own Products
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© Genmab 2026 Growth: Rapid integration of Merus and development of petosemtamab Delivering Genmab’s Next Decade of Sustainable Growth Profitability: Operating discipline A Transformational Year: Genmab in 2026 • Maintain significant profitability • Productivity program driving scale benefits • Prioritization of highest value programs • Accelerates diversified revenue growth • Expected to be accretive to EBITDA by end of 2029 • Petosemtamab: multi-$Bn peak annual sales potential • 3 high impact assets with multiple read-outs in 2026 • Capabilities in place for multiple potential 2027 launches • Multiple wholly owned assets in early development Building Blocks in Place to Continue Strong Track Record Through 2030s For Investor audience only. Not for public information or use. Not for promotional use 9
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© Genmab 2025 Appendix 10
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© Genmab 2026 Strength of Late-Stage Pipeline: Multibillion-dollar Opportunities Phase 3 Trials 11For Investor audience only. Not for public information or use. Not for promotional use Program Indication Phase Status Addressable Patient Population Opportunity (Peak Sales) EPKINLY® 1L DLBCL (EPCORE®DLBCL-2) 3 Fully Recruited 70,000 >$3Bn 2L+ DLBCL (EPCORE®DLBCL-1) 3 Data January 2026 21,000 2L+ DLBCL (EPCORE®DLBCL-4) 3 Fully Recruited 1L FL (EPCORE®FL-2) 3 Ongoing 28,000 2L+ FL (EPCORE®FL-1) 3 Approved in US 9,000 Rina-S® PROC (RAINFOL -02) 3 Ongoing 40,000 >$2Bn 2L+ EC (RAINFOL -03) 3 Ongoing 14,000 2L PSOC maintenance (RAINFOL -04) 3 Ongoing 25,000 1L EC 3 Planned 23,000 Petosemtamab 1L HNSCC (LiGeR-HN1) 3 Ongoing 41,000 $Multibillion 2L+ HNSCC (LiGER-HN2) 3 Ongoing 25,000
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© Genmab 2026 12 For Investor audience only. Not for public information or use. Not for promotional use. Innovative Pipeline: Ongoing Clinical Trials (Genmab/Partner Sponsored) Product Developed By Technology Target Trial Name Patient Population Treatment Regimen Phase Primary Endpoint(s) ClinicalTrials.gov ID Trial Status ~# Patients Primary completion per ct.gov Epcoritamab (EPKINLY ®/ TEPKINLY®) Co-dev Genmab / AbbVie DuoBody ® CD3, CD20 EPCORE ® FL-1 2L FL Epcor + R2 vs R2 3 BOR, PFS NCT05409066 Active, not recruiting 549 Basis for approvals EPCORE ® DLBCL-2 1L DLBCL (High Risk) Epcor + R-CHOP vs R-CHOP 3 PFS NCT05578976 Active, not recruiting 900 Data 2026 EPCORE® DLBCL-1 3L+ / 2L DLBCL transplant ineligible/failed Epcor mono vs R-GemOx or BR 3 OS NCT04628494 Active, not recruiting 484 Data, Jan. 2026 EPCORE® DLBCL-4 2L DLBCL Transplant ineligible/failed Epcor + len (12C) vs R-GemOx 3 PFS NCT06508658 Recruiting 360 Data 2026 EPCORE® FL-2 1L FL Epcor + R2 vs CITs 3 CR30, PFS NCT06191744 Recruiting 1,095 2030 EPCORE® DLBCL-3 1L DLBCL (Anthracycline-ineligible) Epcor; Epcor +/- len 2 CR NCT05660967 Active, not recruiting 111 2026 EPCORE® NHL-6 2L DLBCL/FL Epcor mono (outpatient) 2 Safety NCT05451810 Active, not recruiting 184 2027 EPCORE® NHL-5 B-NHL Epcor combo (incl. polatuzumab vedotin) 2 DLT NCT05283720 Recruiting 496 2032 EPCORE® CLL-1 R/R CLL and Richter’s Syndrome Epcor mono (CLL) and various combo 1/2 Safety, ORR NCT04623541 Recruiting 424 2028 EPCORE® NHL-1 3L NHL Epcor mono 1/2 Safety, ORR NCT03625037 Active, not recruiting 666 Basis for initial approvals EPCORE® NHL-4 R/R NHL in China: Epcor; Epcor + SOC 1/2 BOR, DLT NCT05201248 Active, not recruiting 49 2025 EPCORE® NHL-3 R/R NHL in Japan Epcor; Epcor + SOC 1/2 Safety, ORR NCT04542824 Active, not recruiting 78 2027 EPCORE® NHL-2 B-NHL Epcor + SOC 1/2 Safety, ORR NCT04663347 Active, not recruiting 543 2027 EPCORE® PEDS-1 R/R NHL Pediatric Epcor mono 1 Safety, Cmax, AUC NCT05206357 Active, not recruiting 17 2028 ClinicalTrials.gov information as of Feb 6. 2026
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© Genmab 2026 Innovative Pipeline: Ongoing Clinical Trials (Genmab/Partner Sponsored), Con’t Product Developed By Technology Target Trial Name Patient Population Treatment Regimen Phase Primary Endpoint(s) ClinicalTrials.gov ID Trial Status ~# Patients Primary completion per ct.gov Tisotumab vedotin (TIVDAK®) Co-development Genmab / Pfizer ADC tissue factor innovaTV 301 R/M CC TV vs chemo 3 OS NCT04697628 Active, not recruiting 502 Basis for approvals innovaTV 207 Solid tumors TV + pembro or pembro + carbo or pembro + cis 2 ORR, BICR NCT03485209 Active, not recruiting 352 2026 innovaTV 205 Recurrent or Stage IVB CC TV; TV + combo 1/2 DLT, ORR NCT03786081 Active, not recruiting 214 2026 Rina-S® Genmab ADC FRα RAINFOL -02 PROC Rina-S vs investigator’s choice 3 PFS NCT06619236 Recruiting 530 2027 RAINFOL -03 Endometrial cancer Rina-S vs investigator’s choice 3 PFS, OS NCT07166094 Recruiting 544 2028 RAINFOL -04 PSOC Rina-S + SoC vs SoC 3 PFS NCT07225270 Recruiting 528 2028 RAINFOL -05 NSCLC Monotherapy 2 ORR NCT07288177 Recruiting 240 2027 RAINFOL -01 Advanced solid tumors Rina-S; Rina-S + combo 1/2 Safety, ORR NCT05579366 Recruiting 764 PROC data, 2026 Petosemtamab Genmab Biclonics® EGFR, LGR5 LiGeR-HN1 1L HNSCC petosemtamab + pembro vs pembro 3 OS, ORR NCT06525220 Recruiting 500 One or both, data 2026LiGeR-HN2 2L/3L HNSCC petosemtamab vs investigator’s choice 3 ORR, OS NCT06496178 Recruiting 500 MCLA-158-CL01 Solid tumors (incl. mCRC) Mono or combo 1/2 Safety, BOR, ORR NCT03526835 Recruiting 523 2025 MCLA-158-CL04 Metastatic NSCLC petosemtamab + pembro 2 ORR NCT07353957 Recruiting 180 2028 GEN1059 (BNT314) Co-development Genmab / BioNTech DuoBody® EpCAM, 4-1BB BNT314-01 Malignant solid tumors GEN1059 mono 1 Safety NCT06150183 Active, not recruiting 41 2026 BNT314-02 mCRC GEN1059 + BNT327/chemo 1 Safety, ORR, PFS NCT07079631 Recruiting 482 2030 GEN1057 Genmab DuoBody® FAPα, DR4 GCT1057-01 Malignant solid tumors GEN1057 mono 1 Safety NCT06573294 Recruiting 45 2026 GEN1079 Genmab DuoHexaBody® GCT1079-01 Advanced solid tumors GEN1079 mono 1 Safety, ORR NCT07387068 Not yet recruiting 121 2031 GEN3018 Genmab DuoBody® GCT3018-01 AML or HR-MDS GEN3018 1 Safety NCT07384715 Not yet recruiting 78 2029 ClinicalTrials.gov information as of Feb. 6, 2026 13For Investor audience only. Not for public information or use. Not for promotional use
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© Genmab 2026 2026 Guidance: Revenue Growth Funds Strategic Investment 14% total revenue growth • EPKINLY® and continued momentum in royalty portfolio supports growth and revenue quality Planned & Focused investments** • 90%+ of increase due to late-stage development for petosemtamab & Rina-S® and launch readiness activities *Adjusted 2025 actual operating expenses and operating profit excludes Merus Acquisition and Integration related charges of $185 million, and amortization of intangible assets acquired through acquisitions of $13 million. Refer to Appendix "Full Year 2025 Financial Highlights" for 2025 actual results. **2026 Guidance excludes $65M impact of acquisition and integrationrelated charges and $45M amortization of intangible assets acquired through acquisitions For Investor audience only. Not for public information or use. Not for promotional use USD Millions 2025 Actual* 2026 Guidance** 2026 Guidance Mid-point** Revenue 3,720 4,065 - 4,395 4,230 Gross Profit 3,482 3,810 - 4,110 3,960 Operating Expenses (2,219) (2,710) - (2,910) (2,810) Incl. Acquisition & Integration related Charges and amortization of intangibles acquired through acquisitions (2,417) (2,810) - (3,030) (2,920) Operating Profit 1,263 900 - 1,400 1,150 Incl. Acquisition & Integration related Charges and amortization of intangibles acquired through acquisitions 1,065 780 – 1,300 1,040 Maintain Strong Profitability while Investing for Future Growth 14
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