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Orion Interim Report January- September 2026 28 October 2026
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Disclaimer This presentation contains forward-looking statements which involve risks and uncertainty factors. These statements are not based on historical facts but relate to the Company’s future activities and performance. They include statements about future strategies and anticipated benefits of these strategies. These statements are subject to risks and uncertainties. Actual results may differ substantially from those stated in any forward-looking statement. This is due to a number of factors, including the possibility that Orion may decide not to implement these strategies and the possibility that the anticipated benefits of implemented strategies are not achieved. Orion assumes no obligation to update or revise any information included in this presentation. All the figures in this presentation have been rounded, which is why the total sums of individual figures may differ from the total sums shown. 28 October 2026
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• Strong net sales growth and improved profitability • Nubeqa® continued as the main growth driver • Broad-based growth across Branded Products • First large-molecule asset ODM-216 advanced into clinical development, marking an important R&D milestone • Interim results from DASL-HiCaP demonstrated a 58% reduction in the risk of metastasis or death with darolutamide plus ADT and RT compared with placebo plus ADT and RT (HR 0.42; 95% CI: 0.27–0.66; p=0.0001) • Changes in Orion Executive Team as of 1 January 2027 28 October 2026 Q3 2026 Highlights ADT= Androgen Deprivation Therapy, RT=Radiation therapy, HR=Hazard Ratio
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Net sales, EUR million Operating profit, EUR million 28 October 2026 Q3 2026 Financial highlights Earnings per share, EUR 423,2 542,2 Q3/2025 Q3/2026 +28.1% 121,0 209,9 Q3/2025 Q3/2026 +73.5% Operating profit margin 38.7% (28.6%) 0,68 1,19 Q3/2025 Q3/2026 +74.4%
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Net sales bridge (MEUR) 28 October 2026 112,5 Q3/2025 Innovative Medicines 7.4 Branded Products -4.6 Generics and Consumer Health -0.1 Animal Health 4.3 Fermion -0.5 Translation differences and other operations Q3/2026 423.2 542.2 The figures in the chart are rounded, which is why the total sums of individual figures may differ from the total sums.
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Operating profit bridge (MEUR) 28 October 2026 Q3/2025 4.9 Changes in sales volume 2.6 Changes in prices, COGS, product mix and FX Royalties -0.1 Milestones -0.1 Other operating income and expenses -22.3 Fixed costs Q3/2026 121.0 103.8 209.9 The figures in the chart are rounded, which is why the total sums of individual figures may differ from the total sums.
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Net sales, EUR million Operating profit, EUR million 28 October 2026 January-September 2026 Financial highlights Earnings per share, EUR 1–9/25 1–9/26 1,194.2 1,481.5 +24.1% 303,5 501,2 1–9/25 1–9/26 +65.2% Operating profit margin 33.8% (25.4%) 1,71 2,83 1–9/25 1–9/26 +65.9%
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397,2 661,7 18.4 1–9/25 13.9 1–9/26 415.6 675.6 +62.5% 165,6 279,9 5.5 Q3/2025 3.7 Q3/2026 171.1 283.6 +65.7% 28 October 2026 Innovative Medicines Nubeqa® sales (MEUR) 32 51 69 54 96 9518 21 26 36 38 44 48 48 50 64 58 2024 Q1 2024 Q2 2024 Q3 116 2024 Q4 2025 Q1 2025 Q2 118 2025 Q3 165 2025 Q4 2026 Q1 173 2026 Q2 50 72 95 152 92 140 166 213 145 237 2026 Q3 280 222 Royalties Product sales to BayerNubeqa® Other NET SALES MEUR NET SALES MEUR
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28 October 2026 Branded Products • Growth across therapy areas • Strong demand and good product availability supported Women’s Health growth • Good momentum continued across the Easyhaler® product portfolio • CNS growth came from products other than entacapone Q3/2025 Q3/2026 68.7 76.2 42.1 19.8 6.8 44.3 21.9 9.9 +10.8% Respiratory CNS Women’s Health 1–9/25 1–9/26 226.1 249.1 132.9 71.4 21.8 143.3 73.6 32.1 +10.1% NET SALES MEUR NET SALES MEUR
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28 October 2026 Generics and Consumer Health Q3/2025 Q3/2026 135.9 131.3 102.0 33.9 97.3 34.0 -3.4% Generic prescription drugs Consumer Health products 1–9/25 1–9/26 402.5 398.7 304.2 98.3 298.4 100.2 -1.0% • Slight decline in generic prescription drugs net sales while consumer health products net sales remained on previous year’s level • License agreement with Qilu to commercialize intravenous (IV) pembrolizumab biosimilar in Europe • Expected launch in early 2030s NET SALES MEUR NET SALES MEUR
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28 October 2026 Animal Health Q3/2025 Q3/2026 33.5 33.4 -0.3% NET SALES MEUR 1–9/25 1–9/26 105.5 103.6 -1.8% NET SALES MEUR • Net sales on previous year’s level
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28 October 2026 Fermion Q3/2025 Q3/2026 13.5 17.8 +31.6% NET SALES MEUR 1–9/25 1–9/26 44.9 54.6 +21.5% NET SALES MEUR • Net sales (external sales) of Fermion consist of contract active pharmaceutical ingredient (API) manufacturing, contract development of APIs, and contract manufacturing of pharmaceutical products • Growth due to increase in sales of contract development services and contract manufacturing of pharmaceutical products • Ramp-up in Hanko unit 3 ongoing as planned after the water damage in July
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TOP 10 products and net sales split in 1-9/2026 28 October 2026 46% 17% 27% 7% 4% Product or product portfolio EUR million vs 1-9/2025 1. Nubeqa® (prostate cancer) 661.7 66.6% 2. Easyhaler® product portfolio (asthma, COPD) 138.3 6.6% 3. Entacapone products (Parkinson’s disease) 62.8 -2.6% 4. Divina® series (menopausal symptoms) 32.1 46.9% 5. Dexdomitor®, Domitor®, Domosedan® and Antisedan® (animal sedatives) 22.2 -12.6% 6. Burana® (inflammatory pain) 16.7 -4.6% 7. Trexan® (rheumatoid arthritis, cancer) 12.7 3.5% 8. Quetiapine products (antipsychotic) 10.7 8.1% 9. Simdax® (acute decompensated heart failure) 9.1 -25.8% 10. Fareston® (breast cancer) 8.9 19.0% Innovative Medicines Branded Products Generics and Consumer Health Animal Health Innovative Medicines Branded Products Generics and Consumer Health Animal Health Fermion
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Orion Pharma’s key clinical development pipeline Invented by Developer(s) Trial/compound Indication Phase I Phase II Phase III ARASTEP (darolutamide) prostate cancer (BCR2) DASL-HiCaP (darolutamide) (Neo-)adjuvant prostate cancer OMAHA-003 (opevesostat) prostate cancer (later-line mCRPC3) OMAHA-004 (opevesostat) prostate cancer (front-line mCRPC3) LEVEL-2 (TNX-103/levosimendan) PH-HFpEF4 MK-5684-01A (opevesostat) prostate cancer (mCRPC3) OMAHA-015 (opevesostat) breast, endometrial and ovarian cancers CYPIDES (opevesostat)1 prostate cancer (later-line mCRPC3) TEADES (ODM-212) MPM5, EHE6 and other solid tumours TEADCO (ODM-212) mesothelioma, NSCLC7 and pancreatic cancer BICIDES (ODM-216) advanced solid tumours 1 Study started prior license agreement with MSD and thus Orion is conducting and will complete the trial. 2 Biochemical recurrence 3 Metastatic castration-resistant prostate cancer 4 Pulmonary hypertension in heart failure with preserved ejection fraction 5 Malignant Pleural Mesothelioma 6 Epithelioid Hemangioendothelioma 7 Non-small cell lung cancer with KRAS G12C mutation THERAPY AREAS oncology cardiovascular large molecule Changes vs. Q2’2026: Tenax LEVEL trial removed, BICIDES added Phase 1b/2 28 October 2026
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28 October 2026 External recognition of Orion’s sustainability management 15 Provider Result MSCI ESG Ratings AA EcoVadis Silver* CDP Climate: B Water security: B ISS Corporate Rating Prime Our sustainability agenda ESG assessments and ratings *) Link to EcoVadis Recognition Page
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Outlook for 2026 (provided on 20 October 2026) 28 October 2026 Net sales EUR 2,070 million–EUR 2,140 million Operating profit EUR 730 million–EUR 790 million
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Changes in Orion Executive Team
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LONG TERM Global SHORT TERM Europe, APAC, Japan MID-TERM + USA Strengthen European & APAC market position Build and invest into global commercial assets and capabilities Grow & maximize value of global assets Inspired by our Nordic heritage, we strive to empower people around the world to live their lives to the fullest – today and tomorrow. STRENGTHEN & EXPAND BUILD & INVEST ACCELERATE Growth Enablers We are entering the next phase of strategy execution 28 October 2026
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Julia Macharey EVP People & Culture and Communications Orion Executive Team as of 1 January 2027 Liisa Hurme President and CEO Juhani Kankaanpää EVP Global Operations, Generics and Consumer Health Mikko Kemppainen General Counsel Niclas Lindstedt EVP Animal Health Hao Pan EVP International Commercial Operations Chief Commercial Officer Outi Vaarala EVP Research & Development René Lindell Chief Financial Officer Henri Salokangas EVP Branded Products Berkeley Vincent EVP Innovative Medicines & US • New International Commercial Operations organisation • More consistent commercial execution and closer coordination across markets and channels • Global Operations and Generics and Consumer Health under same leadership • The change will support more integrated portfolio and supply decisions and enable continued optimisation of Generics and Consumer Health portfolio • Satu Ahomäki, EVP , Generics and Consumer Health will leave Orion after 34 years in serviceNew memberNew role Extended role 28 October 2026
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Upcoming events Financial Statement Release 2026 17/2/2027 AGM planned to be held 23/3/2027 Interim Report 1–3/2027 22/4/2027 Half-Year Financial Report 1–6/2027 20/7/2027 Interim Report 1–9/2027 27/10/2027 28 October 2026