Slides
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February 2026 Investor presentation
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2 Richter at a glance 41 commercial and marketing companies ~11,500 employees 8 manufacturing sites 200+ molecules manufactured 120+ Years history EUR ~5.7bn Mcap ~73% free float Listed on Budapest Stock Exchange Vraylar® 21st best-selling small molecule drug in 2024 in the US 2nd position in Women's Healthcare in Europe EUR 2.3bn sales revenue in 2025, in 4 business units 666 826 161 628 Neuropsychiatry | CNS Women’s healthcare |WHC Biotechnology | BIO General medicines | GM Million EUR
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Our Vision for 2035 We improve quality of life globally with a special focus on women and mental health patients We concentrate on the development, manufacturing and commercialization of pharmaceuticals Our innovative solutions elevate therapeutic standards while affordable medicines broaden patient access We aim to grow the non-royalty business to twice the current size and add royalties by the 2030’s Scalable solutions will help us remain cost-efficient and limit adverse effects on the planet We need to engage talent from all directions and commit to diverse and inclusive teams Global recognition Pharma only Innovative & Affordable DiversityScaleGrowth 3
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Innovative and Affordable approach driven by therapeutic area focus INNOVATIVE We aspire to become thought leaders globally and to build a portfolio of leading therapies Our aim is to provide reasonably priced products accessible to a wide range of people, ensuring equitable access and supporting universal health coverage AFFORDABLE BIOTECHCNSWHC GENMED Menopause PCOS* Endo- metriosis Contra- ception Urinary tracts Women’s Oncology Neuropsychiatry Fertility Musculoskeletal Immunology Cardiovascular Blood therapies Traditional CNS Diabetes and Obesity Address unmet medical needs by developing and delivering market- leading solutions in our established indications, while introducing novel therapies in new segments Establish ourselves as global thought leaders and introduce new blockbuster molecules in Neuropsychiatry following the Cariprazine patent cliff Provide accessible high-quality brands building on our healthy pipeline while enhancing our capabilities through CDMO business Enhance Generics Excellence operation and expand in Western Europe embracing Affordable business synergies USA, Europe, Japan USA, Europe, Japan EuropeUSA, Europe, Japan 4 *PCOS: Polycystic ovarian syndrome
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5 Multiple levers of Revenue growth and Margin improvement 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 Reaching biosimilar breakeven through 4 new biosimilar launches and growing CDMO business 3 new own biosimilar launches 1st wave of new products in existing segments and PCOS* Next original molecule launch Maximize Cariprazine sales BIOTECH CNS WHC GENMED Expanding GenMed business to Western Europe EFFICIENCY Cost efficiency programs (G&A, R&D, Commercial, Operations) Maximizing potential of current portfolio and indications (Contraception, Endometriosis, Fertility, Menopause) 2nd wave of new products in Oncology Autoimmune small molecule launch 1 Autoimmune small molecule launch 2 2nd wave of portfolio expansion (Cardiovascular, Diabetes) 3rd wave of portfolio expansion (Cardiovascular, Diabetes and Obesity) Expanding US business 1st wave of portfolio expansion (Multiplex Sclerosis + Blood therapies) *PCOS: Polycystic ovarian syndrome Infrastructure rightsizing and CAPEX management
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Women’s Healthcare WHC 66
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WHC to become the largest cEBIT contributor by 2035 THOUGHT LEADERS IN WOMEN'S HEALTHCARE COVERING THE ENTIRE VALUE CHAIN BROADENED GEOGRAPHIC FOCUS LEVERAGE STRATEGIC RESEARCH AND PARTNERSHIPS EXPAND THERAPEUTIC SEGMENTSDOUBLE REVENUE Double Revenue, double R&D investment, and improve EBIT margin by maximizing our current portfolio and launching cutting- edge products Address unmet medical needs in women’s healthcare by developing and delivering market-leading solutions Focus on growth of established TAs (Contraception, Fertility, Endometriosis, Menopause) while introducing novel therapies for Gynecological Infections, PCOS and Women’s Oncology Enter the US market with innovative medications and strengthen our presence in Western Europe Build on our proprietary research by in-licensing and/or acquiring early and late-stage projects Further strengthen our WHC-focused hubs in R&D, Production, Sales and Marketing to drive innovation and market success 7
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Women’s Healthcare – rich in history, full of ambitions Crystalineoestron 1901 1902 1908 1930 1966 1994 2010 2010 2013 2015 2016 2017 2018 2020 Foundation Publicly listed Acquisition of Preglem (Esmya) Expansion to Latin America Acquisition of Finox (CH) – Biosimilar Bemfola First combined Oral Contraception marketed in Hungary brand name Infecundin From 1908: Building International presence, 10 foreign affiliates by the end of 1930s Richter-Grünenthal, acquisition of Oral Contraceptive portfolio Lenzetto® innovative transdermal spray in menopausal hormone therapy License and supply agreement for Levosert® (IUS) License and supply agreement for a new generation contraceptive 2021 Launch of Ryeqo® (Myovant–Relugolix) TabletteOvarii First Gyno Product 2022 2023 License and supply agreement for a Menopause product Foundation Expansion 2024 ExEmFoam acquisition Acquisition of Evra transdermal contraceptive patch Expansion to WEU Acceleration Estetraand BCI acquisition 8 2025 Collaboration with Granata Bio in Fertility 2026 Collaboration with Fimmcyte
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WEU 38% c WHC at a glance at Richter 285 293 310 321 405 445 454 482 64 69 77 82 88 101 92 83 13 11 19 62 81 6 10 22 40 68 111 26 28 48 70 27 2018 30 2019 27 2020 29 2021 33 42 2022 42 2023 2024 2025 Label 412 433 432 461 582 669 724 826 34 Contraception Fertility Menopause Endometriosis Others Global WHC Revenue (EUR mn) Europe WHC market share Global WHC Coverage R&D spending & capability • Internationally acknowledged expertise in steroid chemistry • One of the few pharma companies in the world, who manufacture finished products from own steroid APIs • FDA/EMA compliant manufacturing • Dorog: one of the top steroid manufacturing sites in Europe • 30 Affiliates and 14 representative offices • Covering over 75% of European Gynecologists • Over 1,000 FTE sales representatives Market share compared to the market lead competitor (%) 45 50 55 60 65 70 75 2021 2022 2023 2024 50% 65% 69% 73% GEDEON RICHTER APAC 10% USA / Canada 6% Other 2% EEU 20% CEE 15% Latin America 9% Global WHC revenue: EUR 724 mn ExpertiseManufacturing Global WHC force 9 • 8.1% of revenue in 2024 • Original Research Hub in Liege and Montpellier • Late-stage R&D capability in Liege and Budapest
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co Seven strategic Therapeutic segments defined in WHC Women’s oncologyEndometriosis PCOSContraception Menopause Fertility Urinary tracts Largest WHC revenues Nr.1 position in Europe in 2024 Growth driven by Drovelis (about to exceed EUR 50mn sales in 2025 and to reach EUR 100mn sales in Europe by 2030) Leading unsolved health issue for women in the world affecting 8-13% of reproductive- aged women globally2 New strategic Therapeutic segment for Richter Most attractive Therapeutic segment with the highest unmet need New strategic Therapeutic segment for Richter High growth- potential market with significant unmet need Almost 2x fewer children born in the EU in 2022 than 6 decades ago. During the same period fertility rate in the US halved.2 Our traditional Therapeutic segments New strategic Therapeutic segments Key strategic Therapeutic segment with one of the highest growth potential Portfolio provides complex symptoms management options Recent disruptive changes in market growth dynamics are evidence of a high unmet need globally Complete portfolio to cover the need Major diseases are stress incontinence and urinary infections Recurrency remains as the critical unmet need 10
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Oral contraceptives Drovelis: Licensed-in from Mithra in 2018, launched in 2021 (EU); Global asset rights acquired in June 2024 Emergency contraceptives Mid-term contraceptive Evra: Asset purchased in 2021 from Janssen Pharmaceutica NV Drovelis® Contraception — the leading provider in Europe Among the 1.9bn women of reproductive age (15–49 years) worldwide in 2021, 1.1 billion have a need for family planning3 The contraceptives market size to grow to USD 40.89bn by 2029 at a CAGR of 8.0%4 Richter is already Nr.1 in Europe, where the market of ~70 million5 women is expected to grow to reach USD 9bn in value by 20306 Contraception is the highest revenue generator therapeutic segment in WHC and comprises a wide range of innovative and traditional products Market potential and position Our product portfolio 0 2 4 6 8 10 12 2021 2022 2023 2024 2025 Cumulative Drovelis sales volume (mn cycles) 0 5 10 15 20 25 2016 2017 2018 2019 2020 2021 2022 2023 2024 GEDEON RICHTER Competitor 1 Competitor 2 Competitor 3 Competitor 4 European market share (%) in regular contraception (in cycles) Postinor® Evra® 11
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Market potential and position Our product portfolio *r-hFSH: Recombinant human follicle stimulating hormone Global sales of infertility treatment are estimated to be USD 1.9bn in 2024 and are anticipated to reach USD 3.84bn by 20347 Sales are projected to rise at a CAGR of 7.3% between 2024 and 20347 Fertility rates: USA: According to the latest data from the World Bank, the number of live births per woman was 1.665 in 20229 EU: The total fertility rate stood at 1.46 live births per woman in the EU in 202210 The unmet need is significant r-hFSH* Progesterone Ganirelix Diagnostic (ultrasound) medical device The growth of the Gonadotrophins market (EUR mn) 0 100 200 300 400 500 600 700 2021 Q1 Q2 Q3 Q4 2022 Q1 Q2 Q3 Q4 2023 Q1 Q2 Q3 Q4 2024 Q1 Q2 Q3 Q4 US Europe Age-related decline in infertility in women and men8 0.0 0.2 0.4 0.6 0.8 1.0 Age, years 20 25 30 35 40 45 50 women men Relative fertility rate Bemfola® Cyclogest® Ganirelix Gedeon Richter® ExEm® 12 Fertility — a broad portfolio for infertility specialists
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Market potential and position Our product portfolio Menopause is an area of high unmet need globally. Based on the age distribution of the population and share of symptomatic cases, it is estimated that more than 450mn women worldwide have menopause and perimenopause symptoms11 Based on the prevalence of the impact of menopause on women's life, the estimated potential for medication is USD 120-230bn globally12 Market in Europe doubled since Covid driven by the tripling UK market’s uptake Richter’s menopause portfolio’s sales increased more than 5x in the same period9 13 11 19 34 42 62 81 2018 2019 2020 2021 2022 2023 2024 2025 The growth of Richter Menopause portfolio (EUR mn) 60 80 100 120 140 160 180 Q1 2021 Q2Q3Q4Q1 2022 Q2Q3Q4Q1 2023 Q2Q3Q4Q1 2024 Q2Q3Q4Q1 2025 Q2Q3 The growth of menopause market in Europe (EUR mn) Transdermal delivery Vaginal tablet Lenzetto® Vagirux® 13 Menopause — protected brands on a high-growth market
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Market potential and position Our product portfolio Endometriosis — leading original therapy Globally, 190mn women are suffering from endometriosis. Currently no cure exists, and treatments focus on symptom management13 The global endometriosis treatment market size was estimated at USD 1.76bn in 2024 and is expected to grow at a CAGR of 12.2% in 2025-30.14 Innovation in this space, including faster diagnosis rates and earlier access to treatment, could further increase the market potential Ryeqo peak sales may reach EUR 150–200mn by 2030, implying a CAGR of 22-27% 6 10 22 40 68 111 2020 2021 2022 2023 2024 2025 The growth of Richter Endometriosis portfolio (EUR mn) Number of patients treated with Ryeqo® 0 20 000 40 000 60 000 80 000 100 000 2022 2023 2024 2025 Endometriosis indication Current number of patients: ~97 000 Original GnRH antagonist combination Generics progesterone-based drug Ryeqo® Zafrilla® 14
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• Basic research, 30+ years of knowledge in small molecule discovery • Wide range of synergies on early and later phase clinical development Richter R&D Innovation center – Budapest • Assets and licenses acquired from Mithra Group • Development lead platform is based on Estetrol (E4), a unique, native estrogen Estetra SRL – Liege • Acquisition announced in June 2024 • BCI identifies novel kinase inhibitors from its proprietary small chemical molecules library derived from High- Throughput Screening BCI - Montpellier and Liege The biology laboratory in Liège (Belgium) develops innovative cell-based assays The medicinal chemistry laboratory in Montpellier (France) takes care of the design and synthesis of novel innovative chemical entities 15 Pipeline delivery built on the Innovative research hubs
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Neuropsychiatry CNS 1616
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CNS at a glance at Richter 17 * AbbVie’s guidance for Vraylar net sales in 2025 updated at the 31 July 2025 conference call R&D Capability Global recognition of our early research, two CNS ecosystems, 220 publications in last 10 years Thought leadership The largest Neuropsychiatry R&D research hub in Central and Eastern Europe (~400 FTE) Proven quality of science AbbVie partnership: two decades of successful collaboration 2021 2022 2023 2024 2025 1 681 1 978 2 670 3 267 2026F 3 621 ~4 000+19% AbbVie – Vraylar net sales (USD mn) Recordati – WEU & Tunisia AbbVie USA, Canada, LatAm, Japan, Taiwan Adcock South Africa Gedeon Richter CEE & RU/CIS, Vietnam Hikma MENA Seqirus Australia & New Zealand MPTC Dexcel Israel (SE Asia) Proven track record of Cariprazine ~1.7 million patients treated worldwide through our network Strong license partners Available in 67 countries through 5 continents
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18 Our focus is on disease symptom domains with high prevalence Loss of motivation, social withdrawal Changes in emotional responsiveness Hallucinations, delusions, disorganized thoughts Problems with executive functioning, focusing, working memory Negative symptoms Affective symptoms Positive symptoms Cognitive symptoms GR’s focus diseases GR’s target symptoms Schizophrenia 0.5% Major Depression 7% Bipolar Disorder (Mania & Depression) 2.8% Generalized Anxiety Disorder 2.9% 12-month prevalence of diseases among adults6,7,8 Primary targets Secondary targets
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• Oral, once daily atypical antipsychotic discovered by Richter and co-developed with Forest Laboratories (acquired by AbbVie) • Approved indications: USA (Vraylar®): schizophrenia, bipolar mania, bipolar depression, adjunctive therapy to antidepressant for major depressive disorder EU (Reagila®): schizophrenia • Outstanding efficacy profile with improvements on a broad set of domains; clinically proven superiority in efficacy versus standard of care within predominant negative symptoms • Multi-billion USD blockbuster on the U.S. market; AbbVie expects around USD 4.0bn net sales in 2026 • Loss of Exclusivity in U.S.: 17 March 2030* * Note: FDA granted 6-month additional exclusivity for Cariprazine in the U.S.19 The success of cariprazine 13,9 24.20.9 2018 2.7 2019 3.8 2020 101.6 4.6 2021 138.2 7.7 2022 194.6 11.1 20232017 13.8 2024 25.1 50.3 82.7 106.2 145.9 205.7 242.7 2025 249.9 14.8 264.7 47.6 78.9 229.0 Vraylar royalty Reagila Cariprazine revenues of Richter (HUF bn)Vraylar sales of AbbVie (USD mn) 288 487 858 1 359 1 681 1 978 2 670 3 267 3 621 2017 2018 2019 2020 2021 2022 2023 2024 2025 22% 11%
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20 Key Vraylar® competitors in the US Genericized API (Brand, Originator) Schizophrenia Bipolar Mania Bipolar Depression Major Depression (adjunctive therapy) Other indications & information Cariprazine (Vraylar; AbbVie/Richter) Brexpiprazole (Rexulti; Otsuka/Lundbeck) Treatment of agitation associated with dementia due to Alzheimer’s disease; PTSD sNDA not approved by FDA Lumateperone (Caplyta; J&J) Approved for depressive episode in bipolar I and II disorder and for MDD (adjunctive); bipolar mania Phase III studies ongoing Olanzapine + samidorphan (Lybalvi; Alkermes) Dextromethorphan + bupropion (Auvelity; Axsome) MDD monotherapy; Alzheimer’s disease agitation (Phase III); and Smoking sessation (Phase II) Xanomeline + trospium chloride (Cobenfy; BMS) Ongoing phase III studies for Alzheimer's disease agitation, Alzheimer's disease psychosis, Alzheimer's disease cognition, and bipolar mania Lurasidone (Latuda; SumitomoDainippon) Genericized in Q1 2023 Risperidone (Risperdal; J&J) Genericized; Autism-associated irritability (in children aged 5 and older) Aripiprazole (Abilify; BMS/Otsuka) Genericized; Irritability associated with autism; Tourette syndrome; injection for agitation associated with schizophrenia or bipolar mania
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Healthy pipeline includes partnered and stand-alone projects *LoE: loss of exclusivity Time Expected revenue 2015 204020352030 20452020 2025 Preclinical Phase I Phase II Phase III MAA RGH-691 4 preclinical projects RGH-202 Gedeon Richter projects RGH-932/ABBV-932 (BD) Partnered with AbbVie • Healthy pipeline that gives us confidence we can manage Cariprazine LoE* effects • Our pipeline includes partnered as well as stand-alone projects • Own capabilities for all development phases that, with the help of our partners, enable us to bring new innovative CNS products to the market AbbVie 2022 collaboration AbbVie 2024 collaborationCariprazine Key highlights Revenue aspirations from current projects (snapshot, subject to change) 21 RGH-932/ABBV-932 (GAD)
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General Medicines GM 2222
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23 IMPROVE FRESHNESS OF OUR PORTFOLIO SYNERGETIC AFFORDABLE APPROACHBROADEN GEOGRAPHIC FOCUS OPERATIONAL EXCELLENCEDOUBLE REVENUE Double revenue by 2035, reach over 20% profitability, and remain a key cEBIT contributor Continuously bring new products to market and improve the freshness of our portfolio Run focused cost excellence programs to fight price erosion and growing unit costs Achieve wider geographic reach by expanding towards WEU and strengthening position in CEU and EEU Exploit synergies between small and large molecule practice, and deliver integrated therapeutic solutions for our HCPs* and patients GenMed’s ambition is to establish generics excellence *Healthcare Professionals; **Non-neuropsychiatric CNS CLEARLY DEFINED THERAPEUTIC AREA FOCUS Therapeutical solutions will focus on Cardiovascular, Traditional CNS**, Blood therapies and Diabetes/Obesity
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GenMed at a glance 24 GenMed Revenue EUR mn GenMed cEBIT EUR mn GenMed geographic coverage 4.9% R&D spending to sales (%, in 2025) R&D Capability Production and R&D sites 25 Nr of own Affiliates 1,200 Nr of Sales Reps API* : 2 FDF**: 4 R&D : 3 We pursue a mixed model of own R&D and in-licensing strategy 529 574 594 634 628 2021 2022 2023 2024 2025 4.4% 103 128 113 90 93 2021 2022 2023 2024 2025 49% 46% 6% 44% 23% 12% 21% HU PL RO Other CE*** 67% 10% 5% 8% 13% RU UKR UZB KAZ Other EEU**** *API: Active Pharmaceutical Ingredient **FDF: Finished Dosage Form ***Central Europe ****Eastern Europe Eastern Europe Central Europe Other Region
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Traditional Generic therapeutic areas Cardiovascular We have a wide portfolio coverage in traditional generic indications like Cardiovascular and traditional CNS* Loss of exclusivity-driven strategic therapeutic areas Traditional CNS Blood therapies There is a high potential in Blood therapies, Diabetes and Obesity due to the loss of exclusivity of originator medicaments Diabetes and Obesity 25 Clear focus set regarding therapeutic areas *Non-neuropsychiatric CNS GENMED BIOTECH Musculoskeletal Immunology AFFORDABLE PILLAR Affordable synergies with Biotech
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Harnessing speed and scale and rolling it out to Western Europe III I Our aim is to strengthen Generics Excellence at HQ level • Pursue Portfolio management excellence; BD+L* • Enhance Development and Regulatory excellence • Elevate Sales and operation excellence • Advance Marketing Excellence Strengthen our country-level excellence I/II Broaden our geographic reach to Western Europe • Expand our operational excellence embracing Affordable business synergies in Western Europe 90%+ Clinical success rate in the last 3 years 90%+ D&R milestone compliance LoE Day 1 Launches met in the last 2 years Efficient Lifecycle and pruning system in place 244 SKU** Cut-off in 2024 -5% Conversion cost reduction -30% Quality testing time for finished goods • Focus on top 6 GenMed Countries • Advance Market access excellence • Boost Sales-force excellence • Enhance Channel Management Excellence 26 Telexer®: 1st and 2nd position in CEE countries amongst dabigatrans Centralized procurement, New Head of procurement 8-10 % Machine hour, 10% Manday efficiency increase *BD+L: Business Development and License **SKU: Stock Keeping Unit Overtime reduced by 70%
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Strategic ambitions for 2030 and 2035 27 Doubling Revenue cEBIT margin R&D Spend to Revenue Freshness index* Top5 in key countries in the core region *Freshness index: Revenue share of products launched in the last 5 years 2024 2035 634 mn EUR 1,300+ mn EUR 2024 2030 8.4% 15%+ 2024 2030 16% 20%+ 2024 2035 1 4 2024 2030 5% 7%
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Biotechnology BIO 2828
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Fastest growing segment to reach scale and become profitable STRONG BIOTECH PORTFOLIO AND PIPELINE CDMO BUSINESS AS A CAPABILITY ENHANCERBROADENED GEOGRAPHIC FOCUS THERAPEUTIC AREA FOCUS ENHANCED PARTNERINGSTRONG DOUBLE-DIGIT REVENUE GROWTH Aspiring double-digit growth and reaching break-even by 2027 Launch 8 own developments establishing ourselves as a reputable biosimilars player Further build on existing commercial partnerships and build new ones in the regions without GR sales presence Portfolio development to focus on Europe, USA and Japan as key biosimilar markets Therapeutic area focus remains in immunology and musculoskeletal Provide CDMO services across the full spectrum of biologics development & manufacturing capabilities 29
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Biotech at a glance at Richter 30 52 64 65 80 53 57 72 77 2022 2023 2024 4 2025 105 121 137 161 Global Biotech Revenue EUR mn Other product revenues Teriparatide CDMO • Cell line development • DS* Process development • Formulation & medical device development • Analytics • Clinical R&D Capability • Microbial DS* manufacturing facilities – 2 sites in Germany (Richter Biologics) • Mammalian DS manufacturing facility – 1 site in Debrecen, Hungary • F&F DP** manufacturing facility – 1 site in Debrecen, Hungary Production sites Close to 30 commercial affiliates in 3 continents Number of own Affiliates Global Teriparatide partner network *DS: Drug substance; **F&F DP: Fill and finish drug product
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Cardiovascular Traditional CNS Blood therapies Diabetes and Obesity 31 Biotech therapeutic areas are focusing on niche market segments GENMED BIOTECH AFFORDABLE PILLAR Musculoskeletal Osteo- porosis Psoriatic arthritis Rheuma- toid arthritis Axial spondylo- arthritis Immunology Skin affected Morbus Crohn Coltis ulcerosa Atopic dermatitis Gut affected Psoriatic
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32 Molecule/ Product Therapeutic area Indication Originator Early CMC dev. Late CMC dev. Clinical dev. Submission Commercial Expected Launch date TERROSA ® Teriparatide Musculoskeletal Osteoporosis marketed JUNOD®/ YAXWER®, ENOBYTM/ XTRENBOTM Denosumab Musculoskeletal Osteoporosis, Oncology marketed RGB19 Tocilizumab Musculoskeletal Autoimmune 2026 RGB20 Immunology Autoimmune 2030 RGB24 Immunology Autoimmune 2031 RGB25 Immunology Osteoporosis 2032 USYMRO® Ustekinumab Immunology Autoimmune 2026 RGS1 Musculoskeletal Autoimmune 2028 RGS2 Musculoskeletal Autoimmune 2032 BIO internal dev In-licensing Gx internal dev • Two existing biosimilars on the market with a global commercial footprint (Bemfola part of WHC) • Healthy development pipeline with 4 brands to be launched in the next 2 years • Multiple products to be marketed through 2035, focusing on some of the lucrative LoEs, to establish Richter as a solid, reliable player in Biotech • The development pipeline to be filled with a new product every other year Key Highlights Building a strong Biotech portfolio
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33 Richter BioLogics Germany (RB) – Increased production capacity for microbially expressed Biopharmaceuticals Strain Development / Optimization Process Development / Analytical Development Process Transfer / Scale-up Clinical Trial Supply Phase I –III Commercial production Complete Drug Substance Development & Manufacturing from one Source GMP production plant, Hannover • GMP compliant multipurpose facility • Manufacturing in up to 300 L scale • 1000 m² production area • Manufacturing license for proteins, DNA, vaccines and chemical conjug. GMP production plant, Bovenau • Manufacturing in up to 1500 L scale • 4500 m² production area • Manufacturing license for proteins, DNA and vaccines • New production building with two additional production lines (completed in 2024)… • …increased capacity from 40 to up-to-120 batches per year Development center, Hamburg • Strain development • Process development • Analytical method development incl. bioassay development • GMP compliant QC labs Several audits performed and accreditations obtained since 2004
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Mammalian cell expressed Drug Substance (DS) and Drug Product (DP) manufacturing facilities – Debrecen Opened in 2012 Greenfield investment Expansion finished 2019 Mammalian cell fermentation & downstream processing Fill and Finish capabilities DS DP • 2 x 5000 L stainless steel fermentation capacity • 4 x 2000 L single use & 2 x 50 L pilot scale bioreactors added in 2019 • Analytical services support • Scale down development capabilities available • Syringe, cartridge, vial filling (RABS) • Automated freeze drying • Variable batch sizes • Stainless steel / single use available • Label / blister technology • QC & QA services 34 The facility is located in Debrecen, Hungary, it was commissioned in 2012 and has EMA and FDA approval. The site has successfully been inspected by the Japanese, Russian, South Korean and Gulf Health Council regulatory authorities.
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Research and Development R&D 3535
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* Ready-to-Sell Licensed pipeline36 R&D pipeline – changes during Q4 2025 Neuropsychiatry Women’s Healthcare General Medicines Biotechnology new discontinued License Own Clinical phasePreclinical phase Regulatory & Launch Phase 1 Technology Development Phase 2 Phase 3 Clinical phase RSL* Market Own
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Sustainability 3737
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The role and place of ESG in Richter Board of Directors CEO EHS HR Legal IR and ESG ESG Committee Focus areas in ESG ESG Governance and main supporting functions Supervisory Board Board of Directors Women on Board 33% 33% Ratio of women in total workforce: 44% 38
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39 Sustainable and scalable growth with purpose People Environment Access to health ENVIRONMENT Absolute level emission reduction in focus Committed to set new targets in 2025 Tightly monitored and controlled steroid emission ACCESS TO HEALTH Focusing on unmet needs New original research for women’s healthcare Growing availability of Cariprazine globally Awareness raising programs Diverse and expanding portfolio of affordable medicines PEOPLE Business thrives on a healthy mix of generations, gender, educational background and culture Comprehensive mental wellbeing program Wide range of employee benefits Sustainability focus areas supported by • ESG Committee with three independent Board members • ESG coordinated within IR, reporting directly to the CEO GOVERNANCE First-ever integrated annual report with audited sustainability statement, in line with CSRD REPORTING TRANSPARENCY
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GHG emissions: declining trend and progress towards targets 40 Richter Group carbon footprint (Scope 1-2, kt CO2eq/year) Richter Group carbon footprint (Scope 1-2-3, kt CO2eq/year) 341 321 337 324 293 2021 2022 2023 2024 2025 -5.9% +4.8% -3.7% -9.6% Key Environmental messages 165 154 156 137 118 2021 2022 2023 2024 2025 2030 -6.7% +1.3% -12.2% -40.0% -13.9% Group-level GHG emissions decreased materially in 2025 Nearly 10% reduction in total greenhouse gas emissions (Scope 1-2-3) YoY at Group level Driven by technology modernization at our manufacturing sites and energy efficiency measures Total energy consumption decreased by 6%, while fossil energy consumption decreased by 13% YoY Scope 1 and Scope 2 emissions reduction target set for 2030 Richter wants to reduce Scope 1-2 greenhouse gas emissions by 40% by 2030 compared to the 2021 baseline The target is defined using a methodology aligned with Science Based Targets initiative (SBTi) principles Scope 3 emissions assessment is ongoing to identify key emission sources and reduction opportunities
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ESG focused initiatives 41 Preservation of natural resources: optimization of water consumption Efficient water consumption • Continuous reduction in water consumption by: Process optimization for efficient water use in our technologies Modern technologies (both in industrial plants and in office buildings) • Water use monitoring has been rolled out to all key subsidiaries to arrive at a Group level consumption model, which enables Group level target setting and working out action plans 41 1990 1995 2000 2005 2010 2015 2020 2025 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 1000m3 Drinking water use Industrial water use Total Water consumption in Richter, Hungary 1992-2024
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* PEC = Predictive Environmental Concentration PNEC = Predictive non-effective Concentration 42 Steroids and other pharmaceuticals in wastewater – well below the safety threshold • Following the working out and acceptance of a risk assessment system and methodology, we rolled out a voluntary steroid active substance monitoring and measurement system at our major steroid production sites in the last three years • We are monitoring wastewater steroid content based on an annual measurement plan • In 2024, we rolled out the monitoring system to non-steroid APIs and intermediates as well • For all APIs tested, the amount released into the environment was at least one order of magnitude smaller than the value with a potentially harmful effect on the environment API / intermediates Site Roll-out PEC/PNEC* (acceptable value <1) estetrol Dorog 2022 0.000042 estradiol-17ß-acetate Dorog 2023 0.000000357577 estradiol methylether acetate Budapest 2023 0.064196071 17β-estradiol Dorog 2023 0.002145461 desogestrel Budapest 2023 0.11 drospirenone Dorog 2022 0.00015 norelgestromin Dorog 2021 0.0011 norethisterone Dorog 2023 0.0016 norgestimate Dorog 2024 0.00000000465 fluconazole Dorog 2024 0.0001 atorvastatin-L-Lysine Dorog 2024 0.00000002 cariprazine-hydrochloride Dorog 2024 0.00000065 11-alpha-hydroxi- levodione Budapest 2024 0.0001 methyl-secoolone Budapest 2024 0.1757 trienol-acetate Budapest 2024 0.1291 Pharmaceuticals in the environment
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* Diversity Equity and Inclusion43 Diversity vision Mapping the „as is” • Analysis of existing DEI HR data and creation of regular reporting • Focus groups on special issues and/or underrepresented groups/stakeholders • DEI organizational maturity survey The presence of diverse experience, knowledge, professional background, skills, opinions and thoughts enables us to elevate the standard of care in key therapeutic areas and address unmet needs in order to improve the quality of life of patients Key initiatives: Generational Gender Education International culture Location Key target areas of our DEI* strategy: Initiatives in progress • Managing generations training • Unconscious bias training • Succession data analysis • Leadership development programs to create psychological safety New actions • Inspirational conversation series with internal and external guests • Reverse mentoring • Ethical recruitment and selection (training) • Creating a long- term DEI roadmap • Employer brand and DEI Mapping the wider context • Seeking for „Best practice” (benchmarking) • Discovery, involvement and engagement of DEI allies • Joining social organizations related to DEI
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Risk management framework Integral part of Richter's activities and corporate governance system Regular reports to decision-making bodies Independent risk management function Holistic and integrated risk management system Rules, regulations, limits, controls, regular monitoring Connected to the realization of strategic goals Operation of a business continuity management system 44
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The risk assessment framework and the identified risks are revised by the executive management and approved by the Board at least once a year Risk ranking Negligible Low Middle High Very high Risk Mitigation Currency risk Most of CF in FX Hedging strategy, natural hedges, shorter customer payment term Inflation risk Narrowing margins due to increase in expenses Increase of efficiency and prices (if possible) Tax risk Risk of adverse changes in tax and custom regulations Monitoring, cooperation with pharmaceutical associations Interest risk Fixed rated bonds Interest Rate Swap, duration limits Credit risk of customers Rules, limits, monitoring, collaterals, dedicated department Credit risk of investment partners Limit system, daily monitoring, diversification Liquidity risk Positive CF; daily monitoring, planning, high amount of liquid assets, loan facility Risk Mitigation Supply chain risk* early/long-term pre-order, accurate planning, long-term forecasts, alternative suppliers, increased stocks, supplier selection Cyber risk* Development of IT security activity; improvement of risk awareness; education Russian-Ukrainian war* Production, sales, reputation New sources of supply for manufacturing, monitoring system, compliance with sanctions, crisis management in logistics and finance; proactive preparation for risks Changes in US economic policy (tariffs, taxes, regulations, etc.) Analysis, monitoring, adaption of strategy to changes, cooperation with pharmaceutical associations The strategy of CNS (R&D, US partner and market) Development of a new molecule with US partner, geographical expansion of sales, quality control, ensured continuous production The strategy of BIO (profitability) and GM (ambitious goals) Sales activity; new partners, product development; contract manufacturing, well selected generic products, Life Cycle Management Ensuring qualified workforce * Strengthening of employer brand, loyalty program; fluctuation monitoring, increase in efficiency; international head-hunting, educational collaborations V H H L N H H H H V H *ESG related risk 45 M H M V H H Key financial, strategic and operational risks Financial risks Main strategic and operational risks
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4646 Financials
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Pharma revenues and Clean EBIT 47 238 458 538 581103 330 113 90 93 89 128 103 102 134 117 -54 -48-51-32 2021 2022 2023 2024 -33 2025 398 525 619 674 766+18% WHC GM BIO CNS Other 28.3% 31.4% 31.6% Clean EBIT margin % 31.5% Clean EBIT, 2021-2025 (EUR mn) 33.3% Pharma Revenues, 2021-25 (EUR mn) 296 371 538 614 666 121 137 161529 574 594 634 628461 582 669 724 826 88 35 2021 105 36 2022 34 2023 28 2024 18 2025 1,408 1,667 1,957 2,136 2,298+13% WHC GM BIO CNS Other * Last 12 months
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Ex-CNS Revenues to more than double by 2035 • All projections are based on organic growth; External innovation /M&A is not included (upside) • CNS revenues include PoS*-weighted estimates for the pipeline; successful molecules may hold significant upside 48 1,5 1,6 2021 2022 2023 0.6 2024 2025 2026E 2027E 2028E 2029E ~2.2-2.4 2030E 2031E 2032E 2033E 2034E ~3.2-3.5 2035E 2.1 0.7 2.3 ~7-8% CAGR (ex-CNS)CNS Pharma-ex CNS * PoS: Probability of Success; 2025 guidance is CER-based (constant exchange rate; using 2024 average HUFEUR = 395.5) Pharma Revenues 2020-2035 (EUR bn) Key highlights
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Steady-state cEBIT margin to exceed 20% in the 30s 49 Key highlights Clean EBIT margin between 2023-2035E (%) • Years of portfolio and capability building, coupled with operational excellence and efficiency improvement programs will gradually be translated into materially improving cEBIT margins (ex-CNS) • Steady-state clean EBIT margin to reach 20% by 2030-31 and continue to improve thereafter • Strong internal innovation remains a priority, yet R&D-to-sales ratio is not to exceed 13% throughout the period, even post-Cariprazine LoE 9,5% 8,9% 11,3% 0 5 10 15 20 25 30 35 40 2023 2024 2025 2031E 2035E cEBIT margin (ex-CNS) cEBIT margin
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The heavy lifting has to happen until LoE 50 2024A Self- sufficient Biotech Commercial excellence Commercial footprint G&A Portfolio complexity reduction Infrastructure rightsizing 2035ECAPEX management Biotech scale-up 20%+ 22%+ Portfolio development Operational efficiency R&D step-up2031E 8.9% ~+11ppt ~+2ppt • Biotech becoming self-sufficient and scaling up until 2035 is the largest source of margin improvement (+4ppt) • Commercial efforts, efficiency improvement and footprint revision add an additional 3ppt • Portfolio development (mix and scale) and systematic pruning of existing portfolio contribute 2.5ppt • Infrastructure rightsizing, roll-out of Operational Excellence program and CAPEX management improve margins by 2ppt • Addressing G&A spend, already under way, to deliver 2ppt margin improvement • The operational model must be able to make more room for R&D expenses (Innovative pillar and GenMed), even in the 2030s Key highlights The source of the margin improvement (cEBIT margin ex-CNS, %)
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Capital allocation priorities: R&D, external innovation, shareholders 51 Last 5Y application of the cumulative pre-R&D operating cash flow (2020-24, % and EUR mn) Approximate application of the cumulative pre- R&D operating cash flow in 2025-2035E* 15-20% 30-35% 30-35% 15-20% *For any given year, the capital allocation ratios may be and will likely be different from these values, which are indicative for the cumulative, 11-year period 23% (860) 20% (760) 31% (1,180) 26% (970) Capex/NWC Dividend/buyback Ext. Innovation R&D Visibly more for R&D… …much less for Capex/NWC… …and enough left for distribution and external innovation Capex + NWC Dividend (minimum) Ext. Innovation/Dividend upside R&D Key highlights • More for R&D – R&D will be the biggest use of cash in 2025-35 with c. 30-35% of pre-R&D cash spent • Less for Capex (physical infrastructure) and NWC - proportionally much less spend than in the last 5 years • External innovation – external innovation (business development/M&A) remains an important part of portfolio and capability building and of capital allocation, but spending will always be driven by opportunities • Shareholder distribution – Minimum committed dividends + additional dividend upside (share buyback only opportunistically)
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Capital allocation – balancing between predictability and flexibility 52 Protecting shareholders’ interest and providing an attractive income stream • Richter can sustain paying at least EUR 200mn annual dividends in 2025-35, even beyond Vraylar LoE • Richter to pay out 30-50% of its adjusted net income, providing upside to dividends, particularly in 2025-2030 • Richter would avoid accumulating cash beyond a certain level (15% of Total assets) by paying out excess cash as dividends Providing sufficient flexibility for the management to execute growth • Preserving balance sheet strength and flexibility is a priority; Richter does not want to pay dividend from debt • Ad-hoc large-scale inorganic opportunities may require funding, which may temporarily limit ability to pay dividends Proposing annual shareholders distribution – based on the capital allocation framework – remains to be the authority of the Board of Directors
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Sustainable long-term dividend with material upside through 2030 53 118 107 191 199 230 200 200 200 200 200 200 200 200 200 200 200 2020 2021 2022 2023 2024 2025E 2026E 2027E 2028E 2029E 2030E 2031E 2032E 2033E 2034E 2035E Dividend Min. dividend Dividend upside 30% payout 50% payout * Dividend yield = DPS / share price at the time of the payout A conceptual path to future dividends (EUR mn, all hypothetical values beyond 2024) 225 225 391 432 509 40 47 49 39 0 10 20 30 40 50 60 70 80 90 100 0 100 200 300 400 500 600 2020 30 2021 2022 2023 2024 Payout ratio (%, rhs) Dividend per share Dividend per share, payout ratio (HUF; %) Yield %* 2.7 3.4 4.5 4.5 5.0
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As of 31 December 2025 Shareholders structure 60% 7% 6% 5% 10% 10% 2% International institutional investors Domestic institutional investors Retail investors Foundation for National Health and Education of Medical Doctors Maecenas Universitatis Corvini Foundation Mathias Corvinus Collegium Foundation Treasury shares Free float: ~73% 54
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55 Executive compensation overview Short-term incentive is an annual bonus set as a fixed % of the salary based on the executive’s job level. Main KPIs: • Clean Ebit growth • New product registration/launch • Key/flagship product sales growth • Original research pipeline progress • ESG 30% 18% 47% 4% The weight of KPIs for the CEO in 2024 and 2025 Short-term incentive: CEO KPIs • The average l-f-l consolidated revenue for 2024-2025 must exceed the 2023 consolidated revenue. No compensation through the ESOP if this KPI is not met. 50% 18% 24% 8% ESOP Knock-out criteria for the CEO CEO and CFO payout breakdown in 2024 Base salary Short term incentive Long term incentive Other compensation Long-term incentive: Employee Share Ownership Program (ESOP) • Each year a new ESOP policy is launched with a two-year vesting period • 2024. The VI. ESOP Policy (2023-2024) was paid out in Q1 2025 • The payouts depend on both corporate and individual performance, with 50% tied to each. Although the ESOP is share-based (making executives benefit from share price appreciation), the final payout is in cash after the vesting period 20% 35% 30% 15% Profitability R&D, products Sales ESG 40% 40% 10% 10%
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5656 Q4 2025 update
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* CER (constant exchange rate) calculation is based on 2024 actual FX rate (HUFEUR = 395.5) ** Inventory and receivables impairment and write-off/back is part of Clean EBIT from Jan 2025 (recalculated 2024 Clean EBIT: HUF 266bn; EUR 674mn)57 2025 highlights – strong finish to the year, beating cEBIT guidance HUF 914.0bn (EUR 2.30bn) +8.2% Pharma Revenues Clean EBIT2 HUF 306.2bn (EUR 770mn) +14.8% EBIT1 HUF 292.9bn (EUR 737mn) +12.1% Free Cash-flow3 HUF 249.7bn HUF +5.6bn EPS HUF 1,271 H1 Q1 Q1-Q3 FY Return on Equity4 16.6% -1.8ppt 1 EBIT: Profit/loss from operations 2 Clean EBIT (cEBIT)**: Gross profit less op. expenses (S&M, G&A, R&D) less clawback, less inventory and receivables impairment and write-off/back plus milestone income. cEBIT reflects the profitability of the core business, excl. one-offs 3 Free Cash Flow: Operating Cash flow after changes in Net Working Capital plus interest received less Capex (PP&E) 4 Return on Equity: Cumulative net profit for the last 4 quarters divided by the actual quarter's equity 1 Pharma Revenues (CER*) close to EUR 2.3bn Clean EBIT (CER*) + 8-10% 2025 guidance 2025 CER revenue growth was 8.3% (to EUR 2.31bn) 2025 CER Clean EBIT growth was 14% -2.8%↓ ↓
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All data in HUFbn Pharmaceutical revenues (CER) rose by 8.3% in 2025 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 217.9 220.1 237.5 211.2 245.2 +12.5% Pharmaceutical Revenues (HUF bn) Pharmaceutical Revenues, cumulative (HUF bn) FY 2024 FY 2025 FY 2025 CER 844.8 914.0 914.8 +8.2% +8.3% Pharmaceutical Revenues by region (HUF bn) Impact of the exchange rate changes on revenues (HUF bn) Western Europe Central Europe Eastern Europe North America Asia & Pacific Latin America Rest of the World 156.2 179.0 174.3 176.4 172.9 185.8 255.3 276.4 48.6 54.7 30.7 32.6 6.7 9.0 FY 2024 FY 2025 1.1 Q1 2025 0.5 Q2 2025 -1.3 Q3 2025 Q4 2025 FY2025 8.8 4.0 -4.8 -8.8 -0.8 4.71.61.4 2.21.5 -5.4 1.6 -7.7 4.6-3.0-2.7 -7.9 9.5-2.8 58 USD RUB EUR Other Pharma other GM BIO WHC CNS
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All data in HUFbn * Clean EBIT includes Inventory and receivables impairment and write-off/back from Jan 2025. The 2024 data has been restated accordingly. Very strong Q4 boosts full-year CER Clean EBIT growth to 14% 14.0 12.0 -5.6 -0.2 Q1 2025 58.5 13.8 9.9 Q2 2025 57.5 10.6 4.5 -2.9 -5.2 -1.5 70.8 Q3 2025 66.6 14.8 10.9 0.5 -1.3 -1.1 2.4 -5.1 Q4 2024 48.5 Q4 2025 68.7 78.7 65.8 91.5 66.9 +36.9% Pharma other BIO GM WHC CNS Pharmaceutical Clean EBIT (HUF bn)* Pharmaceutical Clean EBIT*, cumulative (HUF bn) -19.1 FY 2024 -13.3 FY 2025 FY 2025 CER 266.5 304.7 212.7 40.2 35.6 -3.0 231.1 53.1 37.0 -3.2 304.4 +14.3% +14.2% Pharma other BIO GM WHC CNS Key messages • Clean EBIT (pharma) jumped by 37% YoY in Q4 2025 (from a rather low base) to HUF 92bn, bringing full-year 2025 Clean EBIT to HUF 305bn, up 14.3% YoY • Hardly any milestone income was booked in Q4 2025 (HUF 0.3bn) vs nearly HUF 15bn boosting Clean EBIT a year ago • FX was increasingly a headwind towards the end of the year (weak USD, strong HUF), but the cumulative FX impact was around neutral for the full year; CER Clean EBIT growth was also 14% in 2025, ahead of the guidance • All segments improved profitability significantly YoY, except CNS, as a large milestone income (HUF 13.6bn) boosted CNS Clean EBIT a year ago. CNS remained the largest earnings contributor in Q4 (and in FY2025) on the back of continued strong performance of Vraylar ®. • WHC EBIT came in at HUF 14.8bn in Q4 2025 as opposed to a small loss a year ago; this latter was mostly related to some non-recurring M&A-related items • GenMed’s Clean EBIT also improved both YoY and QoQ due to strong cost control and some topline recovery from the Q3 lows • BIO Clean EBIT turned positive in Q4 2025. This was primarily due to very strong CDMO revenue booking at the end of the year (vs. lower revenues in previous quarters) 59
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All data in HUFbn; * Profit for the period attributable to owners of the parent Below-the-line: FX losses and non-recurring tax items Net Profit in 2025, below-Clean EBIT items (HUF bn) Includes taxes calculated in line with Global Minimum Tax, some deferred tax expenses (HUF 5bn), tax provisions (HUF 3bn) and the contribution of higher-tax countries Key messages • Net financial expenses amounted to HUF 10.8bn in 2025 – including HUF 25.3bn FX losses –, as opposed to financial income of HUF 12.9bn a year ago. Q4 alone added only marginally to the net expenses (HUF 1.3bn). FX losses were primarily due to the depreciating USD and the stronger HUF. Net interest income was HUF 6.7bn in 2025, while other financials items were positive at HUF 8bn (mostly derivatives) • Taxes are accounted for in accordance with the Global Minimum Tax (15%); some non-cash deferred tax expenses (+2ppt), tax provisions (+1ppt) and the tax contribution of higher (than 15%) corporate income tax countries led to higher effective tax rate in FY2025 • Net profit was HUF 232.3bn in 2025, 3% lower YoY, as the materially stronger operating profit (+12%) was more than offset by the FX losses and the higher effective tax rate 60 -13.3 Other rev/exp, one-offs EBIT -25.3 FX gain/losses 6.7 Net interest 7.8 Other Fin inc/exp 2.7 Net Profit*Minority int. 0.1 Taxes -52.5 Associates 306.2 292.9 232.3 Clean EBIT Including: - HUF 9.9bn FX gain in Q1, - HUF 15.7bn FX losses in Q2, - HUF 18.9bn FX losses in Q3, and - HUF 0.6bn FX losses in Q4
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All data in HUFbn; * Acquiring intangibles predominantly includes the purchase of rights or licenses of products or product portfolios Sustained robust cash generation in 2025 Op. CF W/o NWC NWC Operative CF 15.9 Interest received Capex (PP&E) FCF Acquiring intangibles* 0.9 Other M&A Dividend (prev. year) 2.0 Share buyback 308.6 32.2 276.4 42.6 249.7 23.8 93.1 Free Cash Flow in 2025 (HUF bn) 313 312 327 322 303 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Cash Conversion Cycle | days Key messages • Free Cash Flow was HUF 250bn in 2025, slightly higher YoY (+2%). Stronger operating profitability and lower capex was partly offset by a larger build in NWC and some realized FX losses • Net Working Capital grew by HUF 32bn in 2025, of which HUF 17bn increase took place in Q4 when activity level increased significantly after the weakness (lower revenues) in Q3 • Cash conversion days improved compared to previous periods • Only smaller M&A transactions took place in 2025, thus approx. half of the FCF ended up increasing the net cash position, despite the payment of record-level regular dividends during the year (HUF 93bn, paid in Q2) Application of Cash Flow NWC increased by HUF 17bn in Q4, reversing the Q3 decline as activity level normalized 61 20% lower YoY
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2026 guidance and outlook 62 * Clean EBIT excludes certain significant non-recurring items from „Profit from operations” such as intangible and PPE impairment charges, restructuring costs, business combination charges and other non-recurring items; ** CER (constant exchange rate) calculation is based on 2025 actual FX rate (HUFEUR = 397.65); *** AbbVie communicated its 2026 sales guidance for Vraylar on its conference call on 4 February 2026 AbbVie expects*** around USD 4.0bn net sales in 2026 with continued strong prescription demand of Vraylar®CNS Expanding NOACs (novel oral anticoagulants - Rivaroxaban, Apixaban, Edoxaban) and new categories to boost freshness index Drive launch and LOE readiness via own assets and strong partnerships GM Biosimilar targets: new product launches to generate revenue growth; denosumab biosimilars launched in 2025; ustekinumab biosimilar to be launched in early 2026; and tocilizumab biosimilar marketing authorization and launch expected in 2026 BIO Significant (c. 30% YoY) growth of focus brands: Ryeqo, Drovelis, Lenzetto and Bemfola; further strengthening the innovative assets in contraception, menopause, endometriosis and fertility TAs Fylrevy®: receive European approval; file for application in additional core markets; prepare robust launch campaign; and execute successful launch is EU pilot markets WHC Women’s Healthcare Neuropsychiatry Biotechnology General Medicines Pharma Revenues (CER**) High-single-digit growth Clean EBIT (CER**) High-single-digit growth 2026 guidance At current spot FX rates, reported revenues would see around 5ppt headwind R&D-to-sales to be around 11% in 2026 Adjusted „Clean EBIT” methodology* c. EUR 100mn restructuring expenses expected in 2026-30 related to strategy implementation (majority linked to ERP and cloud-based IT systems upgrades)
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Gábor Orbán CEO Appointed Chief Executive Officer from November 1, 2017. Began his professional career as an economist for the National Bank of Hungary and the European Central Bank. He later joined Aegon Asset Management where he worked as a fund manager and the head of the fixed income desk. He served as the state secretary in charge of taxation and the financial sector at the Ministry for National Economy for two and a half years, followed by a year spent at Banque Rothschild where he worked as a consultant. He earned his MA degree at the Budapest University of Economics and studied also in the United States. Richter's Director of Corporate Strategy since September 2016, Chief Executive Officer since 2017. Member of the Company's Board of Directors from April 2017. Dr István Greiner R&D Director Appointed Research Director in 2014. Chemical engineer (M.Sc), a qualified patent attorney, has a PhD and an MBA degree (Open University, UK). Joined Richter in 1984 and has held a number of management positions including Head of Chemical R&D, Head of the Patent Department between 1996 and 1999. In 2001 he was appointed Deputy to the Research Director and from 2006 he also became responsible for the new recombinant biotechnological activity of the Company. 63 László András Kovács CFO Graduated at Corvinus University Budapest in 2006. He began his career at PwC Hungary, where he held the position of Assurance Senior Manager and Group Leader. Between 2017 and 2019 worked at MOL Hungarian Oil and Gas Plc., first as CFO of MOL Hungary, later as General Manager of MOL Financial Services Ltd., overseeing internal financing and controlling of over 50 companies. Joined Richter in 2019 as Head of Group Controlling, where he led group- level financial planning and analytics. Appointed Chief Financial Officer of Gedeon Richter Plc. in 2025. Subject to approval, he is expected to join the Board of Directors of Gedeon Richter Plc. on April 29, 2025. 63 Leadership team
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Attila Szénási Chief Operating Officer Joined the Company in 2019 as Director of Pharmaceutical manufacturing and appointed as Chief Operating Officer in 2024. Responsible for production and logistics across the group. Chemical engineer with a degree in organizational management as well. Gained experience in various positions at well known multinational companies in chemical and pharmaceutical industries such as Unilever or Teva and in global environment before entering the Company. Tamás Szolyák Commercial Director Joined the company in September 2018 as Head of Regulatory Science and was promoted to be Chief Commercial Officer in June 2024. Worked for Novartis and its predecessor companies for 21 years and was the GM of the Hungarian affiliate in 2007-2013. He was also the President of AIPM, the local association of innovative companies in this period. From 2013 he focused on healthcare projects, covering development scenarios for the Hungarian primary care system. Joined the Hungarian National Authority of Pharmacy, where he was responsible for regulatory and patient safety matters. 64 Katalin Erdei HR & Technical Director After graduating at the University of Szeged from the Faculty of Arts, and pursuing economic studies at Budapest Economic School, she worked in HR for more than 20 years and brings a wealth of experience in consumer-facing industries to Richter. She held various positions at companies such as Győri Keksz Ltd (subsidiary of Danone), Ferrero Hungary and then Mars Wrigley Company. From 2012, she became member of the Leadership Team at Mars Wrigley’s Hungarian subsidiary and from 2015, she worked as a Regional HR Manager at the European headquarters of Mars Inc, in Germany. Kata has joined Richter in 2018 to drive the global HR agenda of the Company. In 2024, appointed to the role of HR and Technical Director her responsibilities were extended with the leadership of the Technical and Information Technology teams. Leadership team 64
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Women’s Healthcare 1 https://www.grandviewresearch.com/industry-analysis/womens-health-market 2 (a) https://ec.europa.eu/eurostat/statistics-explained/index.php?oldid=664290 (b) https://data.worldbank.org/indicator/SP.DYN.TFRT.IN?locations=US 3 https://www.grandviewresearch.com/industry-analysis/polycystic-ovarian-syndrome-pcos-treatment-market 4 https://www.un.org/development/desa/pd/sites/www.un.org.development.desa.pd/files/files/documents/2023/Feb/undesa_pd_2022_world-family-planning.pdf 5 https://www.thebusinessresearchcompany.com/report/contraceptives-global-market-report 6 https://www.statista.com/statistics/1063314/modern-contraception-use-in-europe/ 7 https://www.who.int/news-room/fact-sheets/detail/menopause/ 8 https://www.futuremarketinsights.com/reports/infertility-treatment-market 9 (a) van Noord-Zaadstra BM, et al. BMJ 1991;302(6789):136 (b) Ford WC, et al. Hum Reprod 2000;15(8):1703–1708 (c) Matorras R, et al. Gynecol Obstet Invest 2011;71(4):229–235 10 https://www.mckinsey.com/~/media/mckinsey/mckinsey health institute/our insights/closing the womens health gap a 1 trillion dollar opportunity to improve lives and economies/closing-the-womens-health-gap-report.pdf?shouldIndex=false 11 https://www.who.int/news-room/fact-sheets/detail/menopause/ 12 https://www.who.int/news-room/fact-sheets/detail/endometriosis 13 https://www.grandviewresearch.com/industry-analysis/endometriosis-treatment-market-report 14 https://www.futuremarketinsights.com/reports/urinary-tract-infections-market 15 https://www.transparencymarketresearch.com/urinary-tract-infection-treatment-market.html 16 https://www.futuremarketinsights.com/reports/uncomplicated-urinary-tract-infection-treatment-market 17 https://www.globalgrowthinsights.com/market-reports/female-stress-urinary-incontinence-treatment-market-107367 18 https://www.globalgrowthinsights.com/market-reports/female-stress-urinary-incontinence-treatment-devices-market-101184 19 https://www.grandviewresearch.com/industry-analysis/polycystic-ovarian-syndrome-pcos-treatment-market 20 https://www.businessresearchinsights.com/market-reports/ovarian-cancer-market-103218 21 (a) https://www.globenewswire.com/news-release/2024/06/10/2896133/0/en/Ovarian-Cancer-Pipeline-Drugs-Analysis-2024-Insights-on-180-Companies-and-200-Pipeline-Drugs-Including-Atezolizumab-Genentech-Tisotuma-Vedotin-Genmab-and- SON-1010-Sonnet-Biotherape.html (b) https://www.globaldata.com/store/report/ovarian-cancer-drugs-in-development-analysis/ (c) https://www.researchandmarkets.com/reports/5322454/ovarian-cancer-pipeline-insight-2024 22 (a) https://www.wcrf.org/preventing-cancer/cancer-statistics/ovarian-cancer-statistics/ (b) https://worldovariancancercoalition.org/wp-content/uploads/2023/04/World-Ovarian-Cancer-Coalition-Atlas-2023-FINAL.pdf (c) https://seer.cancer.gov/statfacts/html/ovary.html 23 (a) https://www.grandviewresearch.com/industry-analysis/cervical-cancer-treatment-market (b) https://www.gminsights.com/industry-analysis/cervical-cancer-treatment-market 24 (a) https://www.who.int/news-room/fact-sheets/detail/cervical-cancer (b) https://www.wcrf.org/preventing-cancer/cancer-statistics/cervical-cancer-statistics/ https://www.grandviewresearch.com/horizon/outlook/contraceptive-drugs-and-device-market/europe Neuropsychiatry 1 https://www.weforum.org/stories/2024/09/brain-gain-how-improving-brain-health-benefits-the-economy/ 2 https://www.who.int/news-room/fact-sheets/detail/mentaldisorders#:~:text=Key%20facts%201%201%20in%20every%208%20people,people%20 do%20not%20have%20access%20to%20effective%20care 3 https://www.grandviewresearch.com/industry-analysis/central-nervous-system-cns-therapeutic-market# 4 Calculated based on: https://www.statista.com/topics/1764/global-pharmaceutical-industry/ 5 https://www.grandviewresearch.com/industry-analysis/central-nervous-system-cns-therapeutic-market and https://www2.deloitte.com/us/en/insights/industry/health-care/global-neuroscience-market-investment-report.html 6 https://jamanetwork.com/journals/jamapsychiatry/fullarticle/2671413 7 Calculated based on https://jamanetwork.com/journals/jamapsychiatry/fullarticle/2671413 8 https://www.who.int/news-room/fact-sheets/detail/schizophrenia 9https://bpb-us-e2.wpmucdn.com/sites.arizona.edu/dist/9/130/files/2024/05/Top200BrandNameDrugBySales2023V1.pdf References 65
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Financial calendar | 27 February 2026 – Q4 and full-year 2025 results | 29 April 2026 – Annual General Meeting | 12 May 2026 – Q1 2026 results | 7 August 2026 – H1 2026 results Contacts Company name: Gedeon Richter Plc. Sector: Pharmaceutical Company address: 1103 Budapest, Gyömrői út 19-21., Hungary Telephone: +36 1 431 5764 Investor relations manager Róbert Réthy, CFA +36 20 342 2555 investor.relations@richter.hu https://www.gedeonrichter.com/en/ https://www.linkedin.com/company/richter-gedeon-hungary/ 6666
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67 Disclaimer This presentation may contain forward-looking statements, that may include, but are not limited to, those regarding capital, inv estment, cash flows, demand, earnings, efficiency, production, profits. These forward -looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from those expressed or implied by these forward -looking statements. These risks, uncertainties and other factors include, but are not limited to developments in government regulations, foreign exchange rates, political stability, economic growth, and the completion of on -going transactions. Many of these factors are beyond the company's ability to control or predict. Given these and other uncertainties, you are ca utioned not to place undue reliance on any of the forward-looking statements contained herein or otherwise. The company cannot guarantee the performa nce and does not undertake any obligation to release publicly any revisions to these forward -looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as maybe required under applicable laws. Statements and data contained in this presentation and the associated slides and discussions, which relate to the performance of Richter in this and future years, represent plans, targets, or projections. The presentation does not constitute an offer to sell or issue, o r solicitation of an offer to purchase or subscribe for securities, or a recommendation. Any data in this presentation are based on publicly available i nformation of the company and can be accessed by anyone on the company’s website. Investors (gedeonrichter.com) 67