Slides
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FIRST HALF 2026 RESULTS July 29, 2026
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AG E N DA E X E C U T I V E S U M M A R Y Rob Koremans, Chief Executive Officer H 1 2 0 2 6 R E S U L T S Mike McClellan, Chief Financial Officer 2
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F I N A N C I A L P E R F O R M A N C E Q 2 2 0 2 6 K E Y A C H I E V E M E N T S • Isturisa®: Strong performance across every major demand indicator and expanded customer-facing teams fully in place • License agreement with Ionis for exclusive development and commercialization rights to zilganersen, an investigational RNA-targeted medicine for the treatment of Alexander disease in all countries outside the U.S. N E T R E V E N U E € 1,410.8 million 9.1% like-for-like1 at CER (FX – 2.6%) +6.6% E B I T D A 2 € 540.2 million +8.8% 38.3% margin A D J . N E T I N C O M E 3 € 349.9 million +6.7% 24.8% margin F R E E C A S H F L O W 4 € 299.4 million Below 1.9x Net Debt / EBITDA 3 1) Pro-forma growth calculated excluding revenue of Vazkepa® and Cardicor® for H1 2026 and H1 2025 (Specialty & Primary Care) and Inrebic® for H1 2026 (Rare Diseases). 2) Net income before income taxes, financial income and expenses, depreciation, amortization and write-downs of property, plant and equipment, intangible assets and goodwill, non-recurring items and non-cash charges arising from the allocation of the purchase price of acquisitions to the gross margin of acquired inventory as foreseen by IFRS 3 3) Net income excluding amortization and write-downs of intangible assets (except software) and goodwill, non-recurring items, non-cash charges arising from the allocation of the purchase price of acquisitions to the gross margin of acquired inventory as foreseen by IFRS 3, monetary net gains/losses from hyperinflation (IAS 29), net of tax effects. 4) Total cash flow excluding financing items, milestones, dividends, purchases of treasury shares net of proceeds from exercise of stock options C O N T I N U E D S O L I D P E R F O R M A N C E A C R O S S K E Y M E T R I C S D R I V E N BY M O M E N T U M I N R A R E D I S E A S E S +€ 42.6 million
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Revenue H1 2026 vs H1 2025 million Euro +17.1% 4 Endocrinology Hema-Oncology Metabolic - 8.0% + 14.8% + 39.0% • Double-digit growth +17.1% vs PY (+22.0% like-for-like1 at CER) supported by continued momentum in Endocrinology and Hema-Oncology • Endocrinology: • Isturisa®: +58.0% supported by robust patient acquisition and conversion, reflecting strong commercial execution • Signifor®: +5.8% growth with higher volumes in U.S. • Hema-Oncology: +14.8% growth driven by Enjaymo® (+31.1%) across U.S., Japan and EMEA; Qarziba® (+6.5%) across geographies and Sylvant®(+6.4%) • Metabolic: Softer Carbaglu® performance due to phasing across geographies and slightly lower Panhematin ®demand in the U.S.; back to growth in Q2 2026 136.8 125.9 200.7 230.4 178.2 247.6 515.7 603.9 H1 2025 H1 2026 K E Y H I G H L I G H T S R A R E D I S E A S E S : R O B U S T P E R F O R M A N C E L E D BY I S T U R I S A® G R O W T H A N D E N JAY M O® M O M E N T U M 1) Pro-forma growth calculated excluding revenue of Inrebic® for H1 2026 (€ 0.4 million)
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160.4 161.5 59.4 53.6 130.8 135.8 207.2 209.3 216.7 213.3 774.4 773.5 H1 2025 H1 2026 Pharmaceutical Revenue H1 2026 vs H1 2025(1)(2) million Euro Cardiovascular Urology Gastrointestinal Cough & Cold Other Therapeutic Areas - 1.6% + 1.0% + 3.9% - 9.7% + 0.7% 1) The 2025 figures have been restated to reflect the reclassification of certain brands from Other Therapeutic areas to Cardiovascular and Gastrointestinal areas in 2026. The amount of reclassification for H1 2025 is as follows: €3.4 million from OtherTherapeutic areas to Cardiovascular area and €6.9 million from Other Therapeutic areas to Gastrointestinal area. 2) Excluding Chemicals € 33.3 million in H1 2026 and € 33.7 million in H1 2025 3) Pro-forma growth calculated excluding revenue of Vazkepa® and Cardicor® for 1H 2026 and 1H 2025 Note: details on main products in Appendix -0.1% 5 K E Y H I G H L I G H T S S P E C I A LT Y & P R I M A R Y C A R E : R E S I L I E N T P E R F O R M A N C E D E S P I T E O N E- O F F H E A D W I N D S A N D L O W C O U G H & C O L D S E A S O N • Sales broadly stable vs previous year, -0.1% or growth of +0.6% like-for-like3 at CER thanks to continued in-market growth of promoted portfolio (+7.0% May-YTD IQVIA) • Cardiovascular: Strong Vazkepa® contribution of €14 million and continued pitavastatin growth offset by Cardicor ® loss and lower sales of mature products (metoprolol and lercanidipine) partly due to phasing of sales orders • Urology: Eligard® strong growth partially driven by competitor stock-out in Türkiye and mostly offset by Tergynan® one-off re- launch in Russia in 2025 • Gastrointestinal: Growth driven mainly by Procto-Glyvenol® • Cough & Cold: Low season in first half in key markets
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1) Net revenue in local currency in Russia exclude sales of products for Rare Diseases (million euro) H1 2026 H1 2025 Change % U.S. 312.4 241.3 29.5 Italy 166.5 181.9 (8.5) Spain 123.9 110.4 12.2 France 88.3 93.2 (5.3) Russia, other CIS countries and Ukraine 87.4 81.1 7.7 Germany 82.8 88.7 (6.6) Türkiye 81.9 70.5 16.2 Portugal 37.5 35.7 4.9 North Africa 27.3 27.5 (0.8) Other C.E.E. countries 99.1 96.0 3.2 Other W. European countries 90.3 80.2 12.6 Other international sales 180.2 183.6 (1.9) TOTAL PHARMACEUTICALS 1,377.4 1,290.2 6.8 CHEMICALS 33.3 33.7 (1.0) in local currency, million H1 2026 H1 2025 Change % U.S. (USD) 364.4 263.6 38.2 Türkiye (TRY) 4,030.5 3,000.1 34.3 Russia (RUB)1 5,282.2 4,936.3 7.0 6 S T R O N G U . S . M O M E N T U M PA R T I A L LY O F F S E T BY O N E- O F F H E A D W I N D S I N S E L E C T R E G I O N S
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(million Euro) H1 2026 % of revenue H1 2025 % of revenue Change % Revenue 1,410.8 1,323.8 6.6 Gross Profit 1,008.8 71.5% 882.6 66.7% 14.3 Adjusted Gross Profit1 1,008.8 71.5% 929.5 70.2% 8.5 SG&A Expenses (394.3) (28.0%) (368.4) (27.8%) 7.0 R&D Expenses (179.1) (12.7%) (167.1) (12.6%) 7.1 Other Income (Expense), net (16.2) (1.1%) (16.1) (1.2%) 0.6 Operating Income 419.2 29.7% 331.0 25.0% 26.6 Adjusted Operating Income2 434.8 30.8% 394.7 29.8% 10.2 Financial Income/(Expenses), net (57.3) (4.1%) (46.7) (3.5%) 22.7 Net Income 269.7 19.1% 216.1 16.3% 24.8 Adjusted Net Income3 349.9 24.8% 327.8 24.8% 6.7 EBITDA4 540.2 38.3% 496.3 37.5% 8.8 7 1) Gross profit adjusted from impact of non-cash charges arising from the allocation of the purchase price of acquisitions to the gross margin of acquired inventory as foreseen by IFRS 3 2) Net income before income taxes, financial income and expenses, non-recurring items, and non-cash charges arising from the allocation of acquisitions to the gross margin of acquired inventory as foreseen by IFRS 3 3) Net income excluding amortization and write-downs of intangible assets (except software) and goodwill, non-recurring items, non-cash charges arising from the allocation of the purchase price of acquisitions to the gross margin of acquired inventory as foreseen by IFRS 3, monetary net gains/losses from hyperinflation (IAS 29), net of tax effects 4) Net income before income taxes, financial income and expenses, depreciation, amortization and write-downs of property, plant and equipment, intangible assets and goodwill, non-recurring items and non-cash charges arising from the allocation of the purchase price of acquisitions to the gross margin of acquired inventory as foreseen by IFRS 3 G R O W T H A C R O S S A L L K E Y M E T R I C S
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8 H I G H E R F R E E C A S H F LO W D R I V E N BY S T R O N G E B I T D A P E R F O R M A N C E 1) Net income before income taxes, financial income and expenses, depreciation, amortization and write-downs of property, plant and equipment, intangible assets and goodwill, non-recurring items and non-cash charges arising from the allocation of the purchase price of acquisitions to the gross margin of acquired inventory as foreseen by IFRS 3 2) Total cash flow excluding financing items, milestones, dividends, purchases of treasury shares net of proceeds from exercise of stock options 3) Opening of financial debts net of repayments and currency translation effect on cash and cash equivalents. (million Euro) H1 2026 H1 2025 Change EBITDA1 540.2 496.3 43.9 Movements in working capital (106.3) (102.9) (3.4) Changes in other assets & liabilities 29.6 (2.7) 32.3 Interest received/(paid) (45.1) (45.5) 0.4 Income tax paid (104.6) (75.9) (28.7) Other 6.2 2.9 3.3 Cash Flow from Operating Activities 320.0 272.2 47.8 Capex (net of disposals) (20.6) (15.4) (5.2) Free cash flow2 299.4 256.8 42.6 Increase in intangible assets (net of disposals) (57.2) (27.6) (29.6) (Investments)/Disposal of assets – net 0.3 - 0.3 Dividends paid (143.2) (137.6) (5.6) Purchase of treasury shares (net of proceeds) 20.2 (48.4) 68.6 Other financing cash flows3 (156.9) (24.1) (132.8) Change in cash and cash equivalents (37.4) 19.1 (56.5)
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Net Revenue • Rare Diseases to deliver robust high-teen organic growth at CER, driven by Endocrinology (accelerating Isturisa® growth) and Hema-Oncology • SPC low single-digit organic growth at CER (returning to mid-single digit growth in FY 2027), reflecting one-off headwinds (incl. loss of Cardicor® license) • FX headwind ~ -3.5% (USD, TRY) 1) Reported growth at midpoint of guidance range assuming -3.5% FX impact 2) Net income before income taxes, financial income and expenses, depreciation, amortization and write-downs of property, plant and equipment, intangible assets and goodwill, non-recurring items and non-cash charges arising from the allocation of the purchase price of acquisitions to the gross margin of acquired inventory as foreseen by IFRS 3 3) Net income excluding amortization and write-downs of intangible assets (except software) and goodwill, non-recurring items, non-cash charges arising from the allocation of the purchase price of acquisitions to the gross margin of acquired inventory as foreseen by IFRS 3, monetary net gains/losses from hyperinflation (IAS 29), net of tax effects EBITDA2 margin on net revenue Adjusted Net Income3 margin on net revenue Net Revenue yoy growth FY 2025 Actual 2,618.4 +11.8% 991.1 37.8% 651.1 24.9% 2,730 – 2,800 + 5.6%1 + 9.1% at CER 995 – 1,030 +/- 36.5% 655 – 685 +/- 24.0% FY 2026 Targets Adjusted Net Income of +/- 24.0% • Financial expenses expected to be aligned with 2025 with lower interest expenses offset by lower FX gains EBITDA margin of +/- 36.5% • Continued efficiency initiatives and operating leverage • Investments behind broader Isturisa® Cushing's syndrome opportunity in U.S. • FX impact of ~ -4.0% on EBITDA Outlook€ million 9 C O N F I R M I N G F Y 2 0 2 6 TA R G E T S
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QUESTIONS & ANSWERS
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Q & A 11 Rob Koremans Chief Executive Officer Mike McClellan Chief Financial Officer Scott Pescatore Executive VP Rare Diseases Alberto Martinez Executive VP Specialty & Primary Care Milan Zdravkovic Executive VP Research & Development
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APPENDIX
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22.7% 12.1% 13.1%9.0% 6.4% 7.2% 6.6% 6.0% 6.3% 5.9% 2.7% 2.0% G e o g r a p h i cT h e r a p e u t i c A r e a s 2.4%15.1%14.8% 11.5% 9.6% 3.8%8.9% 17.6% 16.3%v Rare Diseases 42.8% Metabolic Endocrinology Hema-Oncology Total Revenue H1 2026 Pharmaceutical Revenue H1 2026* Specialty & Primary Care (incl. Chemicals) 57.2% Cardiovascular Urology Gastro & Intestinal Cough and Cold Other areas Pharmaceutical chemicals Note: Total OTC of € 199.9 million in H1 2026 and € 184.7 million in H1 2025 France Germany Other Western Europe Other CEE Italy USA Other International Sales D I V E R S I F I E D P O R T F O L I O A N D F O O T P R I N T Spain 13 Türkiye Portugal North Africa Russia, Ukraine and other CIS *Excluding sales of pharmaceutical chemicals, which were €33.3 million, representing 2.4% of total revenue C O M P O S I T I O N O F R E V E N U E
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1) of which Zanidip® € 84.1 million in H1 2026 and € 90.9 million in H1 2025 2) Trademarks are owned by or licensed to the GSK group of companies (million Euro) H1 2026 H1 2025 Change % Specialty & Primary Care 773.5 774.4 (0.1) Zanidip® and Zanipress® (lercanidipine+enalapril) 1 99.7 106.6 (6.4) Eligard® (leuprorelin acetate) 69.1 63.1 9.5 Avodart® (dutasteride) and Combodart®/Duodart® (dutasteride/tamsulosin) 2 50.4 52.7 (4.3) Seloken®/Seloken® ZOK/Logimax® (metoprolol/metoprolol+felodipine) 50.1 57.4 (12.8) Urorec® (silodosin) 43.3 44.1 (1.8) Livazo® (pitavastatin) 36.2 28.2 28.5 Vazkepa® (ethyl-icosapent) 14.0 - n.a. Rare Diseases 603.9 515.7 17.1 Isturisa® (osilodrostat) 178.8 113.2 58.0 Signifor® (pasireotide) 68.8 65.1 5.8 Qarziba® (dinutuximab beta) 83.7 78.6 6.5 Sylvant® (siltuximab) 48.1 45.2 6.4 Enjaymo® (sutimlimab) 91.0 69.4 31.1 14 M A I N P R O D U C T S N E T R E V E N U E
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Margin on Revenue: Rare Diseases: EBITDA1 43.1% Specialty and Primary Care: EBITDA1 34.7% 1) Net income before income taxes, financial income and expenses, depreciation, amortization and write-downs of property, plant and equipment, intangible assets and goodwill, non-recurring items and non-cash charges arising from the allocation of the purchase price of acquisitions to the gross margin of acquired inventory as foreseen by IFRS 3 57.2% 42.8% Specialty and Primary Care (incl. Chemicals) Rare Diseases Total Revenue H1 2026 EBITDA1 H1 2026 51.8% 48.2% Specialty and Primary Care (incl. Chemicals) Rare Diseases 15 H 1 2 0 2 6 R E S U L T S B Y O P E R A T I N G S E G M E N T S
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1) Includes the fair value measurement of the relative currency risk hedging instruments (cash flow hedge) 2) Cash and cash equivalents, less bank debts and loans, which include the measurement at fair value of hedging derivatives (million Euro) 30-June-26 31-Dec-25 Change Cash and cash equivalents 391.4 428.8 (37.4) Short-term debts to banks and other lenders (22.7) (23.8) 1.1 Loans and leases - due within one year1 (596.8) (313.0) (283.8) Loans and leases - due after one year1 (1,689.0) (2,129.3) 440.3 NET FINANCIAL POSITION2 (1,917.1) (2,037.3) 120.2 16 L E V E R A G E B E L O W 1 . 9 x E B I T D A
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Summary of key itemsReconciliation of Net income to EBITDA1 1) Net income before income taxes, financial income and expenses, depreciation, amortization and write-downs of property, plant and equipment, intangible assets and goodwill, non-recurring items and non-cash charges arising from the allocation of the purchase price of acquisitions to the gross margin of acquired inventory as foreseen by IFRS 3 2) Net income before income taxes, financial income and expenses, non-recurring items, and non-cash charges arising from the allocation of the purchase price of acquisitions to the gross margin of acquired inventory as foreseen by IFRS 3 3) Net income excluding amortization and write-downs of intangible assets (except software) and goodwill, non-recurring items, non-cash charges arising from the allocation of the purchase price of acquisitions to the gross margin of acquired inventory as foreseen by IFRS 3 , monetary net gains/losses from hyperinflation (IAS 29), net of tax effects. Reconciliation of Reported Net income to Adjusted Net income3 (million Euro) H1 2026 H1 2025 % Net Income 269.7 216.1 24.8 Income Taxes 92.2 68.2 Financial (income)/expenses, net 57.3 46.7 o/w net FX (gains)/losses 4.2 (7.5) o/w net monetary (gains)/losses from application of IAS 29 3.0 2.5 Non-recurring expenses 15.6 16.8 Non-cash charges from PPA inventory uplift - 46.9 Adjusted Operating Income2 434.8 394.7 10.2 Depreciation, amortization and write downs 105.4 101.6 EBITDA1 540.2 496.3 8.8 17 (million Euro) H1 2026 H1 2025 % Net income 269.7 216.1 24.8 Net monetary (gains)/losses (IAS 29) 3.0 2.5 Non-recurring expenses 15.6 16.8 Non-cash charges from PPA inventory uplift - 46.9 Amortization and write-downs of intangible assets (exc. software) 83.2 81.8 Tax effects (21.6) (36.3) Adjusted Net income3 349.9 327.8 6.7 • Net FX losses of € 4.2 million in H1 2026 vs € 7.5 million net gains in H1 2025 • Net monetary losses from application of IAS 29 of € 3.0 million in H1 2026 and € 2.5 in H1 2025 • Non-recurring costs of € 15.6 million vs € 16.8 million in H1 2025 reflecting the acceleration of the LTI Performance Share Plan due to the potential delisting of Recordati, requiring the immediate recognition of all outstanding share-based compensation costs • Non-cash charges at the level of gross margin arising from the unwind of the fair value step up of acquired Rare Diseases inventory were equal to € 0 million in H1 2026 vs. € 46.9 million in H1 2025 arising mostly from the acquired Enjaymo® inventory • D&A and write downs of assets: increase of € 3.8 million H 1 2 0 2 6 R E S U L T S – A D J U S T I N G I T E M S
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ENDO HEMA-ONCO META NEURO PROGRAM UPCOMING MILESTONE • Post-Bariatric Hypoglycemia (PBH)1 • High Risk relapsed/refractory neuroblastoma U.S. • Ewing sarcoma2 Top-line results of IST evaluating safety, dose and early signs of efficacy in Q4 2026 Phase 3 development plan to be finalized by year-end 2026 R & D P R O G R A M U P D A T E Dinutuximab beta Note: Expected dates subject to study readouts and regulatory feedback 1) Clinical Trial number: NCT05928390 2) Clinical Trial number: NCT06839703 3) BEACON-2: multi-arm multi-stage (MAMS) randomized Phase I/Phase 2, open-label, international trial for participants with relapsed neuroblastoma Pasireotide 18 Results from interim analysis from ongoing trial3 in H1 2028 (expected to form basis for potential regulatory filing) Osilodrostat • Hypertension caused by hypercortisolemia due to Cushing’s syndrome Enrollment initiation to begin in August 2026 Sutimlimab • Immune thrombocytopenic purpura (ITP) Phase 3 trial initiation in the beginning of 2027 mRNA-3927 • Propionic acidemia (PA) Top-line results of registrational clinical study by end of 2026 Legend Zilganersen • Alexander disease (AxD) Regulatory submissions in Europe and Japan in Q1 2027
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Main palette 213-19-23 64-64-64 124-124-123 218-218-218 242-242-242 255-214-24 224-50-17 154-25-21 222-119-162 150-51-121 72-39-124 130-193-122 0-150-77 0-108-70 136-199-216 0-115-140 29-67-111 0-159-178 Secondary palette 3-week screening 18-week dose titration phase 12-week stable dose phase • Cushing Syndrome • UFC > ULN and ≤2xULN • Uncontrolled hypertension Osilodrostat (n=42) Placebo (n=21) Primary Endpoint • Urinary-free cortisol (UFC) Key secondary endpoint • Blood pressure Other secondary endpoints • Glycemia and weight parameters, adrenal insufficiency adverse events Randomized controlled trial scheduled to start in August 2026 CS= Cushing’s syndrome. UFC=Urinary-free cortisol. ULN=Upper limit of normal. HTN=hypertension (systolic blood pressure, SBP ≥ 135 and < 170 or diastolic blood pressure, DBP ≥ 85 and < 110 mmHg) Objective: Assess efficacy and safety of osilodrostat in adults with mild hypercortisolemia and uncontrolled hypertension (HTN) due to Cushing’s Syndrome (CS) 19 O S I L O D R O S T A T ( I S T U R I S A® ) : P H A S E I V S T U D Y I N P A T I E N T S W I T H H Y P E R T E N S I O N C A U S E D B Y H Y P E R C O R T I S O L E M I A D U E T O C U S H I N G ' S S Y N D R O M E
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Main palette 213-19-23 64-64-64 124-124-123 218-218-218 242-242-242 255-214-24 224-50-17 154-25-21 222-119-162 150-51-121 72-39-124 130-193-122 0-150-77 0-108-70 136-199-216 0-115-140 29-67-111 0-159-178 Secondary palette 3+4 week screening / run-in 12-week core phase 36-week extension phase • Bariatric surgery • Post-bariatric hypoglycemia • Level 2 and/or Level 3 post-prandial hypoglycemia during run-in phase 200 µg s.c. pasireotide (TID) (N=18) 100 µg s.c. pasireotide (TID) (N=18) Level 2 hypoglycemia = Blood glucose <54 mg/dL (3.0 mmol/L); Level 3 Hypoglycaemia is defined as a severe event characterized by altered mental and/or physical functioning that requires assistance from another person for recovery 20 P H A S E 2 C L I N I C A L T R I A L T O A S S E S S T H E E F F I C A C Y A N D S A F E T Y O F P A S I R E O T I D E I N P A T I E N T S W I T H P O S T - B A R I A T R I C H Y P O G L Y C E M I A EU CT number: 2023-505316-37. Clinicaltrial.gov Identifier: NCT05928390 50 µg s.c. pasireotide (TID) (N=18) Placebo (N=18) All patients switched to 50 µg s.c. pasireotide (TID) Up-titration to 100 µg and 200 µg based on clinical response (hypos; glucose levels) Primary endpoint: Change in blood glucose levels as measured by the peak to nadir glucose AUC during mixed meal tolerance test (MMTT) (12 weeks) Key secondary endpoint: Frequency of level 2 or level 3 hypoglycemic events (adjudicated) (12 weeks)
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C O M P A N Y D E C L A R A T I O N S , D I S C L A I M E R S A N D P R O F I L E Statements contained in this presentation, other than historical facts, are “forward-looking statements” (as such term is defined in the Private Securities Litigation Reform Act of 1995). These statements are based on currently available information, on current best estimates, and on assumptions believed to be reasonable by Management. This information, these estimates and assumptions may prove to be incomplete or erroneous, and involve numerous risks and uncertainties, beyond the Company’s control. These risks and uncertainties include among other things, the uncertainties inherent in pharmaceutical marketing and development, impact of decisions by regulatory authorities, such as the FDA or the EMA, regarding whether and when to approve any drug or biological application that may be filed as well as their decisions regarding labelling and other matters that could affect the availability or commercial potential of our products, the future approval and commercial success of therapeutic alternatives, Recordati’s ability to benefit from external growth opportunities, to complete capital markets or other transactions and/or obtain regulatory clearances, risks associated with intellectual property and any related pending or future litigation and the ultimate outcome of such litigation, trends in exchange rates and prevailing interest rates, volatile economic and capital market conditions, cost containment initiatives by payors of medicines and subsequent changes thereto, and the impact that pandemics, political disruption or armed conflicts or other global crises may have on our business. Hence, actual results may differ materially from those expressed or implied by such forward-looking statements. All mentions and descriptions of Recordati products are intended solely as information on the general nature of the company’s activities and are not intended to indicate the advisability of administering any product in any particular instance. Recordati is an international pharmaceutical Group listed on the Italian Stock Exchange (XMIL: REC), with roots dating back to a family-run pharmacy in Northern Italy in the 1920s. We are uniquely structured to provide treatments across specialty and primary care and rare diseases. Our fully integrated operations span clinical development, manufacturing of active ingredients and finished products, commercialization and licensing. We operate in approximately 150 countries across EMEA, the Americas and APAC, with around 4,700 employees. We believe that health is a fundamental right, not a privilege. Today, our purpose “Unlocking the full potential of life” aims to empower individuals to live life to the fullest, from common conditions to the rarest. For more information, please visit www.recordati.com DECLARATION BY THE MANAGER RESPONSIBLE FOR PREPARING THE COMPANY’S FINANCIAL REPORTS The manager responsible for preparing the company’s financial reports Niccolo Giovannini declares, pursuant to paragraph 2 of Article 154-bis of the Consolidated Law on Finance, that the accounting information contained in this presentation corresponds to the document results, books and accounting records. Offices: Recordati S.p.A. Via M. Civitali 1 20148 Milano, Italy Website: www.recordati.com Investor Relations: Eugenia Litz Eugenia.Litz@recordati.com 21 Investor Relations: Gianluca Saletta saletta.g@recordati.it