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Better health. Within reach. Every day. R&D Spotlight Series – Supporting Materials Group Strategy & Respiratory, Nasal, Semi-Solids & Liquids October 2026
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2 Disclaimer Save to the extent required by law, neither Hikma Pharmaceuticals PLC nor any of its affiliates(Hikma), nor any other party, is under any duty to update or inform you of any changes to such information. In particular, it should be noted that the financial information relating to Hikmacontained in this document may not have been audited and in some cases is based on management information and estimates. No reliance may be placed for any purposes whatsoever on the information contained in this document or on its completeness. No representation or warranty, express or implied, is given by or on behalf of Hikma or its directors, officers or employees, advisors or any other person as to the accuracy or completeness of the information or opinions contained in this document and no liability whatsoever is accepted for any such information or opinions or any use which may be made of them. Certain statements in this presentation, are forward-looking statements, including under the US federal securities laws, including the Private Securities Litigation Reform Act of 1995. 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. Any forward-looking statements made by or on behalf of Hikma speak only as of the date they are made and are based upon the knowledge and information available to thedirectors on the date of this presentation. 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. Hikma does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should not place undue reliance on forward-looking statements, which speak as only of the date of this presentation. By participating in, listening to or accessing this document or by accepting any copy of this document, you agree to be bound by the foregoing limitations. All names, logos, and trademarks are properties of their respective owners and are used for identification purposes only.
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3 The Team Hafrun Fridriksdottir President, US and Chief R&D Officer Chris Edlin Vice President; Respiratory, Nasal, Semi-Solids & Liquids R&D Role: Hafrun joined Hikma in April 2024 as President of Hikma Rx. In 2025, Hafrun took on additional responsibilities leading Hikma’s new global R&D organisation and in February 2026, Hafrun was appointed as President, US, leading the Hikma Rx and commercial Injectables businesses in the US, in addition to her responsibilities as Global Head of R&D. Prior to joining Hikma, Hafrun held senior executive roles at leading global pharmaceutical companies including Alvotech, Teva Pharmaceuticals, Allergan and Actavis, and most recently has served in advisory and board roles for several biotech and mid-sized pharma companies. Qualifications: MS Degree in Pharmacy and a PhD in Physical Pharmacy from the University of Iceland. Role: Chris joined Hikma in October 2024 as Vice President of R&D Hikma Rx. Following globalisation of Hikma’s R&D group Chris now focuses on Respiratory, Nasal, Semi-Solids and Liquids R&D globally. Prior to joining Hikma Chris held positions with Teva Pharmaceuticals, GSK, Roche and Sanofi plus was the Chief Scientific Officer of a start-up drug discovery organisation, iThemba Pharmaceuticals, in South Africa. Qualifications: BSc and PhD Degrees in Chemistry from the University of Durham, MBA from the University of Limerick and Fellow of the Royal Society of Chemistry
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Group R&D Strategy Hafrun Fridriksdottir President, US and Chief R&D Officer
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Building an industry leading R&D organisation by strengthening capabilities and accelerating execution Our four strategic pillars to drive growth Leverage unique manufacturing capabilities to unlock technically challenging products, accelerating development and improving scalability Maintain an optimal mix of simple and complex formulations to ensure steady revenue while driving long- term value and margin expansion Invest in differentiated dosage forms, including RTU, respiratory and nasal, that address unmet needs and support sustainable competitive advantage. Build and strengthen in-house capabilities. Shorten development timelines and improve first-cycle approval rates to enhance speed-to-market, capital efficiency, and return on R&D investment. Manufacturing-driven differentiation Portfolio balance and value creation Targeted investment in complex and differentiated platforms Accelerated development and regulatory execution 21 3 4 5
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6 R&D Technical platforms R&D Operations & Regulatory Affairs The R&D organisation’s enablers ▪ Works across the R&D platforms ▪ Improves prioritisation and execution through unified governance and aligned processes. ▪ Enables more efficient resource allocation, maximising return on R&D investment. ▪ Structure is built around three technology-driven platforms ▪ Establishes clear centres of excellence to deepen expertise and technical leadership ▪ Enhances cross- functional synergies and accelerates knowledge sharing across platforms Respiratory, Nasal, Semi Solids & Liquids Solid Orals Injectables R&D Operations Regulatory Affairs Key sites Columbus Jordan Key site Jordan Key sites Zagreb Jordan Key sites Columbus Zagreb Jordan Bedford R&D Hafrun Fridriksdottir One R&D engine, three platforms, shared enablers
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Development phase Launch timing profile Strategic focus areas to drive long-term growth products in our pipeline>330 Late-phase assets complemented by new project starts to continually replenish pipeline Mix of near-term and long-term opportunities to support sustained growth • Ready-to-use formulations: global growth platform • Inhalation products: US and EU focused • Nasal products: scalable global opportunity • Oral solids: ability to leverage internal capability to develop all oral solid formulations • Complex API: building on internal and external expertise in peptides and oligonucleotides • Drug Device Combinations: across all businesses • Pipeline growth: > 30 new products were added to the pipeline in 1H 2026 Addressable market size1 >$100 billion 1 Company analysis of addressable market size based on IQVIA 2025 sales for the US and EU, Evaluate Pharma and IPD, inclusive o f the marketed branded product 7 A strong pipeline across our three businesses
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8 SUBMITTED 60 APPROVED 56 LAUNCHED 59 *2 RNSSL Launches in MENA were BD/UL products (Tobramycin and Prevalin). Pipeline performance, year to date through September 2026
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9 Selection now runs inside one global governance process Quarterly cycle, harmonised diligence, and approval at segment and global level Quarterly review and new product selection, a continuous cycle 1 Identify Products 2 Selection Process 3 Pipeline Addition 4 Monitor 5 Stage gate process One product selection process Who approves what Identify products based on patent expiry / loss of exclusivity across different markets Selection process has been harmonised One team now covers both Rx and Injectables. Focus on selecting global products Commercial input from US, Canada, EU and MENA is built into the standard process. One path for BD and organic We partner or in-license where it gives us capabilities we don’t have, or where it gets us to market in time for loss of exclusivity Product selection committee (PSC) One per business unit. Approves products for R&D and BD, and prioritises the approved list. Makes technical recommendation based on value (NPV, IRR, ROI). Global committee (GPSC) Approves high-investment opportunities above defined thresholds; reviews the global pipeline for awareness. Executive Committee Sets strategy per business unit each Q3; its members also sit on the GPSC. Handover to R&D Approved products pass to R&D and project management for development and execution.
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10 Hikma’s R&D capabilities Building on established platforms to move into high-value, less competitive platforms Established platforms Conventional generics and lyophilised Oral solids and liquids Complex & differentiated platforms Complex injectables and ready-to-use Devices, autoinjectors and pens Peptides Inhalation and nasal Oligonucleotides Leveraging internal capability, transferable skills and investment to pursue more complex, higher value opportunities Long-acting injectables and depots Oligonucleotides
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Respiratory, Nasal, Semi-Solids & Liquids R&D Chris Edlin Vice President; Respiratory, Nasal, Semi-Solids & Liquids R&D
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One platform, four categories 12 Respiratory Value creation • Orally inhaled: DPI, pMDI, soft mist and nebulised • Largest addressable markets, highest barriers to entry • Pipeline covers c.66% of the US respiratory market • Sprays across both ANDA and 505(b)(2) routes • Fastest route from capability to approval, and where our own brands can live • Epinephrine nasal spray – filed in multiple markets • Creams, ointments and gels • Characterisation-led programmes on existing plant, adding portfolio breadth • Oral solutions and suspensions, including controlled substances • Reliable, capital-light, and a large part of our supply reputation Nasal Value creation Semi-solids Base business Liquids Base business How the team is organised: four functions, one pillar Formulation Development Analytical & Development Lifecycle Clinical Device & Human Factors Fully integrated team with projects managed cross functionally
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Leveraging 505(b)(2) pathway: Epinephrine nasal spray 13 505(b)(2) in action: epinephrine nasal spray: - Epinephrine has an established record in Type 1 allergic reactions, including anaphylaxis, traditionally administered - Hikma has developed a nasal spray with the potential to provide patients and caregivers with another option for the treatment of Type 1 allergic reactions, including anaphylaxis - No molecule risk and we have carried out our own PK, PD and device studies - Non-injectable single-use device, formulated, filled and packaged in Columbus plant on our existing line Nasal is a multi-product, multi-geography opportunity • Marketed today: Fluticasone propionate (generic Flonase), Rx and OTC; Kloxxado (naloxone 8mg) • Our capabilities: Multi-dose and unit-dose filling lines on site (leveraged for our own products & CMO); Full R&D capability for analytical, formulation, clinical, device engineering and regulatory affairs • In development: Further 505(b)(2) nasal programmes; complex nasal ANDAs • Ability to file in multiple markets – opening up broader regional opportunity Next steps: Review, approval and speciality launch H2 2026: US filing H1 2026: European filing2025: UK filing Epinephrine nasal spray timeline H2 2026: Canada filing H2 2026: Jordan & KSA filings Benefits of 505(b)(2) pathway: - Faster than a full new drug programme - Less expensive than running large scale efficacy studies - End result is an NDA and brand - Allows development of a differentiated product rather than a substitutable generic
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14 Respiratory – Three device platforms in development Strategic combination of in-house & partnerships provide coverage of all major respiratory dosage forms and markets Generic Ellipta® DPI1 Generic Respimat® SMI2 LGWP pMDIs3 Market Opportunity4 ~$11bn ~$2bn ~$9bn Status Validated device approach in- vivo. Establishing manufacturing capability in Columbus Advanced development. Highly complex device Finalising agreement with strategic partner Est. Filing 2029 2028 2028 1 Dry Powder Inhaler; 2 Soft Mist Inhaler; 3 Low global warming potential pressurized metered dose inhaler; 4 US IQVIA sales August 2026 MAT 1 2 3