Slides
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Results Presentation Fiscal 2026 Second Quarter
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1© Kyowa Kirin Co., Ltd. Delivering Life-changing value to Patients Commitment to Life We remain dedicated to our mission of delivering life-changing value to everyone battling illness, as we continue to push the boundaries of innovative drug discovery. Commitment to Life Luis Miguel Berlanas, Father of Candela, affected by XLH David Riley, MLD father
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2© Kyowa Kirin Co., Ltd. Agenda Chairman Masashi Miyamoto President and Chief Executive Officer (CEO) Abdul Mullick Chief Medical Officer (CMO) Yoshifumi Torii Chief Financial Officer (CFO) Koji Igarashi Q2 2026 Highlights 01 Financial Review02 Commercial update03 Business update04 R&D update05 2© Kyowa Kirin Co., Ltd.
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3© Kyowa Kirin Co., Ltd. Q2 2026 Highlights (Executive Summary) ◼ Dialogue with the Capital Markets ⚫ Topics most frequently raised in capital market dialogues ◼ Q2 Financial Results ⚫ Revenue increased by 14% and Core operating profit by 80% ✓ Driven mainly by higher gross profit from tech-licensing, increased North America Crysvita demand growth and favorable FX impacts, plus lower R&D expenses ⚫ Progress was slightly ahead of the revised full-year plan ✓ Performance was supported by increased shipments of Crysvita in North America ahead of the July price increase, as well as favorable FX impacts ⚫ Closing costs for rocatinlimab clinical trial were recorded under “other expenses” (¥20.2B). ✓ The closing costs were within the range assumed in the revised plan announced in Q1 ⚫ Accordingly, the full-year earnings forecast will not be revised again ◼ Business Update ⚫ Sanford manufacturing facility selected for the FDA PreCheck Pilot Program ◼ R&D Update ⚫ Presented positive results from the ziftomenib KOMET-007 study at EHA 2026
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4 4© Kyowa Kirin Co., Ltd. Dialogue with the Capital Markets Capital market engagement after the launch of the C-suite Executive team C-suite Executive dialogue Investors / Shareholders Topics most frequently raised in capital market dialogues 1. How is the next-growth pipeline progressing? Can KKC sustain its growth trajectory beyond 2030? 2. What is our capital allocation strategy for sustainable growth? 3. Can KKC leverage AI to strengthen its competitive edge? 4. How will the new C-suite team enhance corporate value?
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5 5© Kyowa Kirin Co., Ltd. Dialogue with the Capital Markets Reaffirmed that many questions can be addressed by advancing the “Key Priorities Under the New C-Suite Executive Team” announced in Q1 “Key Priorities Under the New C-Suite Executive Team” announced Q1 Topics most frequently raised in capital market dialogues
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6© Kyowa Kirin Co., Ltd. Building a global procurement platform to support overseas business expansion Cost optimization across key categories Kirin Group joint procurement Securing resources to advance the pipeline and expand existing products, beyond simple cost reduction Launched initiatives to optimize procurement and outsourcing costs Example of Progress against “Key Priorities” “Key Priorities Under the New C-Suite Executive Team” announced Q1
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7© Kyowa Kirin Co., Ltd. Financial Review
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8© Kyowa Kirin Co., Ltd. FY2025 Jan-Jun FY2026 Jan-Jun Change FY2026 Rev. Plans*3 Progress Revenue [Overseas Ratio] 230.7 [73%] 263.6 [78%] +33.0 (+14%) 520.0 [77%] 51% Gross Profit [Gross Profit Margin] 168.8 [73%] 197.3 [75%] +28.5 (+17%) 388.0 [75%] 51% SG&A*1 [SG&A Ratio] 79.5 [34%] 84.8 [32%] +5.3 (+7%) 163.0 [31%] 52% R&D Exp. [R&D Ratio] 52.5 [23%] 46.3 [18%] -6.2 (-12%) 95.0 [18%] 49% Core Operating Profit*2 [Core OP Margin] 36.8 [16%] 66.1 [25%] +29.3 (+80%) 130.0 [25%] 51% Profit [Profit to Revenue Ratio] 16.3 [7%] 30.6 [12%] +14.3 (+88%) 75.0 [14%] 41% Summary of FY26 Q2（YTD） Results Q2 delivered revenue and profit growth, with strong progress toward the full-year plan supported by favorable FX (Billion JPY / Rounded) Foreign Exchange Assumptions ◼ FY2025Q2 Actual: ¥150 / USD ◼ FY2026Q2 Actual: ¥157 / USD ◼ FY2026 Rev. Plan: ¥150 / USD • There has been no change in the foreign exchange assumptions from those used in the FY2026 plans announced on February 9, 2026. *1 Excludes amortization of intangible assets (sales rights amortization) *2 Core operating : GP - SG&A (excl. intangible asset amortization) - R&D - Non-recurring items as determined by the Company *3 Unchanged from the revised plans announced on May 7, 2026.
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9© Kyowa Kirin Co., Ltd. +9.3bn +11% +1.6bn +4% +13.0bn +28% +12.6bn YoY Analysis ~Revenue~ by Region FY25 Jan-Jun Japan North America EMEA Others FX Impact FY26 Jan-Jun 230.7 -3.5 +9.3 263.6 (Billion JPY) Although Phozevel (+22%), Duvroq (+19%) and Crysvita (+15%) grew, sales in the Japan region decreased by 6% due to the impact of drug price revisions. Crysvita (+11%) and Poteligeo (+15%) showed strong growth, leading to a 11% revenue increase in North America. Despite a decline in royalty income following the divestment of the established products joint venture, sales of Crysvita (+12%) and Poteligeo (+7%) increased, resulting in a 4% revenue growth in the EMEA region. Other revenue increased by 28%, mainly due to higher tech- licensing income from the one-time recognition of deferred upfront revenue for rocatinlimab following the termination of the Amgen development collaboration, as well as increased royalty income from Fasenra sales. USD +6.9 bn、GBP +0.3 bn、EUR +4.4 bn Revenue Increased Driven by North America Growth, Higher Technology Income, and Favorable FX Impact +1.6 +13.0 +12.6 Temporary factors ・Rocatinlimab upfront deferred revenue FY25 4.0 bn FY26 9.7 bn（+5.6 bn） -3.5bn -6% Japan North America (excl. FX Impact +5.6) (excl. FX Impact +4.7) (excl. FX Impact +2.3) EMEA Others FX impact Incl.FX +33.0 Excl.FX +20.4
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10© Kyowa Kirin Co., Ltd. YoY Analysis ~Revenue~ by Product FY25 Jan-Jun Crysvita Poteligeo Libmeldy/ Lenmeldy Tech-licensing FY26 Jan-Jun 230.7 +4.3 263.6 (Billion JPY) North America (+17%) delivered strong growth driven by robust demand, while EMEA (+23%) and Japan (+15%) also continued to grow steadily, resulting in total Crysvita revenue growth of 19%. Revenue also reflected increased shipments ahead of the July price increase in NA. Poteligeo total revenue grew 20%, led by North America (+21%) and EMEA (+18%). The identification of eligible patients progressed steadily and remained broadly on track with the plan. 56% revenue growth driven by the one-time recognition of deferred upfront revenue for rocatinlimab following the termination of the development collaboration with Amgen and higher royalty income from Fasenra sales. Revenue growth driven by Crysvita and Poteligeo, along with increased tech-licensing revenue +14.3 Other Products -5.0 Despite growth in Phozebel (+22%) and Duvroq (+19%), revenue declined due to drug price revisions in Japan, the discontinuation of the products (Depakene, Allelock Granules), and lower royalty income following the divestment of the established products joint venture in EMEA. ※Changes in revenue include the impact of foreign exchange（+12.6 billion JPY） +19.0 +0.5 Temporary factors Rocatinlimab upfront deferred revenue FY25 4.0 bn FY26 9.7 bn（+5.6 bn） +19.0bn +19% Crysvita +4.3bn +20% Poteligeo +0.5bn +10% Libmeldy/ Lenmeldy +14.3bn +56% Tech-licensing -5.0bn Other products Incl.FX +33.0
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11© Kyowa Kirin Co., Ltd. 36.8 66.1 YoY Analysis ~Core Operating Profit*1~ FY25 Jan-Jun Gross Profit SG&A R&D Expenses FY26 Jan-Jun +18.0 -1.8 +7.5 FX Impact +5.6 (Billion JPY) Gross profit increased due to higher revenue. The gross profit margin increased by 2 points, from 73% to 75%. R&D expenses decreased due to the absence of rocatinlimab development expenses, which peaked in the previous year. R&D expense ratio fell by 5 points from 23% to 18%. Core operating profit up on global products, Tech-licensing income, and reduced rocatinlimab development costs *1 Core operating profit: Gross profit - selling, general and administrative expenses (excluding amortization of intangible assets) - R&D expenses - non-recurring profit and loss as determined by the Company Incl. FX impact +29.3 Excl. FX impact +23.7 (excl. FX Impact +10.5) (excl. FX Impact -1.3) +18.0bn Gross Profit +7.5bn R&D Expenses (excl. FX Impact -3.5)
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12© Kyowa Kirin Co., Ltd. 6.2 30.6 YoY Analysis ~Profit~ Profit growth driven by higher core operating profit despite impairment losses and clinical trial closing costs related to rocatinlimab FY25 Jan-Jun Core operating profit*1 Amortization of intangible assets Equity Method Finance & Others Tax Expenses FY26 Jan-Jun -2.4 (Billion JPY) Increased in line with the growth in pre-tax income. As the gain/loss related to the share transfer of the established medicines Joint Venture Collaboration is a non-taxable transaction, the effective tax rate temporarily declined. Effective tax rate: FY25 Q2 25.7% → FY26 Q2 18.3% *1 Core operating profit: Gross profit - selling, general and administrative expenses (excluding amortization of intangible assets) - R&D expenses - non- recurring profit and loss as determined by the Company Increased amortization of sales rights due to the launch of KOMZIFTI in the U.S. (November 2025)+29.3 -1.2 -10.6 -0.9 FY2025 ・JP Special Voluntary Early Retirement Program（-¥9.4 bn） FY2026 ・Rocatinlimab clinical trial closing costs（-¥20.2 bn） and relevant impairment losses（-¥5.0 bn） ・Gains from the established medicines JV divestment （+¥4.3 bn） -2.4bn Amortization of intangible assets -10.6bn Finance & Others -1.2bn Tax Expenses Profit +14.3
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13© Kyowa Kirin Co., Ltd. Commercial Update Coordinated Actions to Maximize Patient Access to Global Strategic Products
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14© Kyowa Kirin Co., Ltd. 13.5 31.0 15.3 35.1 25.4 51.5 28.0 57.5 34.4 35.9 87.0 46.0 105.2 58.7 130.0 64.0 141.8 75.1 220.7 4.1 8.9 4.8 10.5 5.4 11.7 6.1 13.6 7.0 14.7 Crysvita 2026 Key Actions & Q2 Topics Sales Revenue (Billion yen) North America Sales Revenue ($M) EMEA Sales Revenue (£M) 2026 KEY ACTIONS 2026 Q2 TOPICS 298 344 388 430 476 22Q2 23Q2 24Q2 25Q2 26Q2 85 93 133 145 162 22Q2 23Q2 24Q2 25Q2 26Q222Q2 FY22 23Q2 FY23 24Q2 FY24 25Q2 FY25 FY2026 Plan 127.1 152.4 196.6 216.4 235.4 Japan NA EMEA Others ◼ Global: YTD Sales rev. YoY +19%, annual plan progress rate 50% ◼ NA: YTD Sales rev. YoY, in Yen +17%, in local currency +11% Demand growth remained strong and in line with expectations, supported by patient identification initiatives and patient support programs. Positive leading indicators support confidence in future demand growth. Revenue also reflected increased shipments ahead of the July price increase. ◼ EMEA: YTD Sales rev. YoY, in Yen +23%, in local currency +12% Underlying demand remained strong, supported by continued patient growth, particularly among adults, while favorable ordering patterns provided an additional benefit in the period. ◼ JP:YTD Sales rev. YoY, in Yen +15% Strengthened promotion by dedicated reps and disease awareness efforts have been effective, resulting in steady new patient additions and penetration of the pre-filled syringe. 26Q2 ◼ NA: Continue investments in people and operations to support patient identification, customer education, and the evolution of patient support services, contributing to sustained Crysvita performance in the U.S. market. ◼ EMEA: Drive growth through improved patient identification, including AI-enabled initiatives, reinforcement of guideline-based use in pediatrics, expansion into adult patients. ◼ JAPAN: Adult patient penetration supported by enhanced promotion and disease awareness led by enhanced dedicated reps. North America Demand Trend 53.5 66.7 90.9 99.8 118.8 155 233 187 285 157 273 191 325 151 325 24Q1 24Q2 24Q3 24Q4 25Q1 25Q2 25Q3 25Q4 26Q1 26Q2 Sales Revenue（$M） Demand (mg) 12 month MA YoY Growth 19.0%
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15© Kyowa Kirin Co., Ltd. 2.1 5.1 3.1 6.9 3.9 8.2 4.9 10.0 5.7 12.08.1 17.2 9.4 21.5 14.1 29.7 16.0 33.9 19.3 40.9 Poteligeo 2026 Key Actions & Q2 Topics Japan EMEA 2026 KEY ACTIONS 2026 Q2 TOPICS Revenue (Billion yen) North America Revenue ($M) EMEA Revenue (£M) 22Q2 FY22 23Q2 FY23 24Q2 FY24 25Q2 FY25 337 14 19 21 25 27 22Q2 23Q2 24Q2 25Q2 26Q2 NA Others ◼ Global: YTD Sales rev. YoY +20%, annual plan progress rate 47% ◼ NA: YTD Sales rev. YoY, in Yen +21%, in local currency +15% Demand growth was positive supported by a strengthened sales organization, ML/AI-enhanced promotions, advanced analytics, and proactive patient-finding. While demand remains resilient, delivering against the ambitious full-year target will require continued improvement in execution and demand generation. ◼ EMEA: YTD Sales rev. YoY, in Yen +18%, in local currency +7% • Underlying demand remained resilient, supported by accelerating evidence-based communication and sustained patient engagement initiatives, although performance was temporarily impacted by shipment timing delays. ◼ Global: Support the Poteligeo franchise in MF/SS through aligned global execution and continued use of clinical and real-world evidence to reinforce long-term value. ◼ NA: Focus on identifying appropriate MF/SS patients and supporting broader and earlier use through evidence-based communication. Continue to leverage ML & AI based technology. ◼ EMEA: Focus on identifying appropriate MF/SS patients and supporting broader and earlier use through evidence-based communication. Support market expansion opportunities and reimbursement efforts. Utilize peer exchange programs and AI data to help identify patients earlier. 67 70 93 107 123 22Q2 23Q2 24Q2 25Q2 26Q2 26Q2 FY2026 Plan 24.2 30.3 39.9 45.7 54.6 11.3 13.4 19.2 21.6 25.9
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16© Kyowa Kirin Co., Ltd. KOMZIFTI 2026 Key Actions & Q2 Topics KEY ACTIONS IN 2026 ◼ KOMZIFTI’s efficacy, safety profile, and ease of use support its positioning as a competitive option in R/R NPM1-mutated AML, with the potential for increased market penetration over time. Items FY2025 2026 Jan-Mar 2026 Apr-Jun 2026 YTD Net Product Revenue 0.3 0.9 * * Net Profit / Net Loss before Tax (8.2) (1.5) (1.7) (3.2) Items FY2025 2026 Jan-Mar 2026 Apr-Jun 2026 YTD Revenue ー ー ー ー SG&A (4.1) (0.7) (0.9) (1.6) Core Operating Profit (4.1) (0.7) (0.9) (1.6) Amortization of Intangible Assets (0.7) (1.1) (1.1) (2.3) Profit before Tax (4.8) (1.8) (2.0) (3.8) KOMZIFTI Product P/L Image Kyowa Kirin P/L Image 50% Unit: Billions of yen Unit: Billions of yen Net Profit *Net Product Revenue: refer to Kura Oncology's Q2 2026 earnings materials (Expected mid-August). 50% of Net Profit / Net Loss before Tax is recorded as revenue (if Net Profit) or SG&A (if Net Loss). Net Loss 2026 Q2 TOPICS ◼ Continued launch momentum including physician adoption and new patient starts ◼ Our messaging is resonating well with healthcare professionals, supported by effective omnichannel engagement, including AI-enabled approaches ◼ We aim to drive further adoption of KOMZIFTI by expanding the evidence base and building real-world clinical experience ◼ We will also focus on communicating new clinical data expected in 2026 for ziftomenib to deepen understanding of its value
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17© Kyowa Kirin Co., Ltd. Business Update
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18© Kyowa Kirin Co., Ltd. Sanford manufacturing facility selected for the FDA PreCheck Pilot Program ◼ Sanford, North Carolina manufacturing facility selected for the FDA’s PreCheck Pilot Program ◼ Selected as one of seven companies from more than 80 applicants ◼ Enables early FDA engagement ahead of the standard application process, aiming to streamline the overall approval process through early review of facility and quality readiness ◼ Expected to minimize uncertainty associated with manufacturing readiness and accelerate the facility development process Sanford, North Carolina, USA News Releases (June 30, 2026) FDA Selects Kyowa Kirin for Precheck Pilot Program to Accelerate Manufacturing Timelines and Enhance Supply Chain Resilience
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19© Kyowa Kirin Co., Ltd. R&D Update
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20© Kyowa Kirin Co., Ltd. Development Pipeline: News Flow Product Indication Event Status ziftomenib Already marketed as KOMZIFTITM AML KOMET-017（P3） Ongoing KOMET-007（P1）Presentation at EHA Congress and Journal Publication June 2026 OTL-203 MPS-I (Hurler Syndrome) Registrational Study（P3 Equivalent） Ongoing OTL-200 Already marketed as Libmeldy®/Lenmeldy® MLD P3 (Japan) NDA (Japan) In preparation March 2026 KK8398 infigratinib Achondroplasia P3 Ongoing Hypochondroplasia P3 In preparation KHK4951 tivozanib eyedrop nAMD P2 Ongoing DME P2 Ongoing OTL-201 MPS-IIIA (Sanfilippo Syndrome Type A) PoC Study (P1/2 Equivalent) Ongoing KK4277 SLE, CLE P1 Ongoing KK2260 Advanced or metastatic solid tumors P1 Ongoing KK2269 Advanced or metastatic solid tumors P1 Ongoing KK2845 AML and other Hematologic Malignancies P1 Ongoing KK8123 XLH P1 Ongoing KK3910 Essential Hypertension P1 Ongoing KK2223 CTCL, PTCL P1 In preparation As of Aug 3, 2026 New information highlighted in orange
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21© Kyowa Kirin Co., Ltd. Manageable safety profile with minimal additive myelosuppression ⚫ Low rates of ziftomenib-related cytopenias ⚫ No delay in neutrophil and platelet count recovery ⚫ QTc prolongation: Three Grade 3 cases (3%); all resolved, no Grade 4 ⚫ Differentiation syndrome: Four Grade 3 cases (4%); all resolved, no Grade 4 ⚫ Deep molecular responses and encouraging durability ⚫ CRc: 96% (NPM1-m) and 90% (KMT2A-r) ⚫ CRc MRD negativity: 85% (NPM1-m) and 82% (KMT2A-r) ⚫ 12-month OS: 94% (NPM1-m) and 71% (KMT2A-r) Ziftomenib: P1 Study (KOMET-007) Newly Diagnosed AML: 7+3 combination – Study Results Summary Enrolled and treated：99cases 49 cases：NPM1-m Median follow-up 17.6 months 50 cases：KMT2A-r Median follow-up 11.0 months As of April 10th, 2026 Study Design Safety Efficacy EHA2026 These data support the ongoing phase 3 registrational trial of ziftomenib in combination with intensive chemotherapy (7+3) in newly diagnosed AML (KOMET-017)
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22© Kyowa Kirin Co., Ltd. Ziftomenib: P1 Study (KOMET-007) Newly Diagnosed AML: 7+3 combination – Safety Four Grade 3 cases (4%) Three Grade 3 investigator-assessed casesa (3%) All QTc events successfully resolved and patients continued ziftomenib treatment ⚫ 1 NPM1-m case, 2 KMT2A-r cases ⚫ None ziftomenib-related ⚫ No Grade 4 1. Lin et al. Blood Adv. 2021; 5(6):1719-28; 2. Lancet et al. J Clin Oncol. 2018; 36(26):2684-92; 3. Erba et al. Lancet. 2023; 401(10388):1571-83 a. All 3 patients were on other medications at time of QT assessment (posaconazole, ciprofloxacin, levofloxacin, hydroxyzine, metronidazole); 1 patient had ongoing hypokalemia and hypomagnesemia • Safety profile in combination with intensive chemotherapy was consistent with that reported for 7+3 alone¹ • No new or unexpected AEs were observed with long-term follow-up • Time to neutrophil and platelet count recovery was comparable to that for intensive chemotherapy regimens, suggesting minimal additive myelosuppression2,3 ⚫ 1 NPM1-m case, 2 KMT2A-r cases ⚫ No Grade 4All DS events successfully resolved with protocol-specified mitigation; 3 patients continued ziftomenib treatment Safety QTc Prolongation Differentiation Syndrome Manageable safety profile with minimal additive myelosuppression EHA2026
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23© Kyowa Kirin Co., Ltd. n (%) NPM1-m (N=49) KMT2A-r (N=50) All Patients (N=99) CRc 47 (96) 45 (90) 92 (93) CR 46 (94) 41 (82) 87 (88) CRh 1 (2) 1 (2) 2 (2) CRi 0 3 (6) 3 (3) CRc MRD negativity (local), n/m (%)a 40/47 (85) 32/39 (82) 72/86 (84) Median time to CRc MRD negativity, months (range) 1.5 (0.5–12.2) 0.9 (0.5–2.8) 1.1 (0.5–12.2) Overall survival probability (NPM1-m) ⚫ After median follow-up of 17.6 months (range 1.0–23.5): • Median OS not reached ⚫ OS rate at 12 months: NPM1-m 94%* ⚫ 60-day mortality: 2% (1/49); median age 60 ⚫ Time to count recovery: 28 days ⚫ 90% (44/49) remained alive and on studyᵃ *12-month OS with intensive chemotherapy-based regimens varied from ~70– 80% in younger/fit patients to ~45–55% in older adults¹-⁵ ᵃ Patients on treatment or in long-term follow-up. Data cutoff: Apr 10, 2026. 1. Othus et al. Leukemia. 2019;33(2):371–378. 2. Othman et al. Blood. 2024;144(7):714–728; 3. Lachowiez et al. Blood Adv. 2023;7(4):534–543. 4. Mendez-Sanchez et al. Leukemia. 2022;36(4):913–922. 5. Heuser et al. Leukemia. 2022;36(4):913–922. Ziftomenib: P1 Study (KOMET-007) Newly Diagnosed AML: 7+3 combination – Efficacy Efficacy Deep molecular responses and encouraging durability ⚫ CRc ⚫ CRc MRD negativity ⚫ 12-month OS EHA2026
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24© Kyowa Kirin Co., Ltd. Appendix
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25© Kyowa Kirin Co., Ltd. Revenue of Major Items (Units are billion JPY, rounded) 1. Sales royalties of Fasenla sold by AstraZeneca (including our own estimates) 2. Overseas items are shown after deducting discounts, etc., including foreign exchange effects. Items in the Japan region display the amount before deductions. Product Name, etc. FY2025 Jan-Jun FY2026 Jan-Jun YoY Change Key Reason FY2026 Rev. Plans* Progress Crysvita 99.8 118.8 +19.0 (+19%) Market Penetration 235.4 50% Japan 6.1 7.0 +0.9 (+15%) 14.7 48% North America 64.0 75.1 +11.1 (+17%) 220.7 51%EMEA 28.0 34.4 +6.4 (+23%) Others 1.7 2.2 +0.5 (+30%) Poteligeo 21.6 25.9 +4.3 (+20%) Market Penetration 54.6 47% Japan 0.7 0.8 +0.1 (+17%) 1.4 58% North America 16.0 19.3 +3.3 (+21%) 40.9 47% EMEA 4.9 5.7 +0.9 (+18%) 12.0 48% Others 0.1 0.1 +0.0 (+25%) 0.2 43% Libmeldy / Lenmeldy 4.4 4.9 +0.5 (+10%) Market Penetration (2024.3 US FDA approval) 10.0 49% United States 1.6 3.0 +1.4 (+89%) 4.5 66% EMEA 2.8 1.9 -1.0 (-34%) 5.5 34% Phozevel Japan 3.7 4.5 +0.8 (+22%) Market Penetration (Launched in February 2024) 11.6 38% Duvroq Japan 6.9 8.2 +1.3 (+19%) Market Penetration 16.2 51% G-Lasta Japan 9.1 7.1 -2.0 (-22%) Drug price revisions and BS Penetration 16.2 44% Romiplate Japan 7.3 6.3 -1.0 (-13%) Drug price revisions 11.4 55% Tech-licensing 25.5 39.8 +14.3 (+56%) Fasenra growth and one- time recognition of deferred revenue for rocatinlimab 74.9 53% Benralizumab Royalty*1 15.7 19.4 +3.6 (+23%) *There is no change to the sales revenue assumptions in the revised 2026 Plans announced on May 7, 2026.
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26© Kyowa Kirin Co., Ltd. Impact on Business Performance ◼ Estimated Impact on Core Operating Profit ⚫ 2026 : Approx. +¥20～30 billion ⚫ 2027 : Approx. +¥30 billion ⚫ 2028 : Approx. +¥10 billion ⚫ 2029 onwards : Certain negative impact expected ◼ Estimated Impact on Net Income for the Current Fiscal Year ⚫ In addition to the impact on core operating profit, closing costs arising from the termination of the clinical trials will be recorded as “other expenses” • Short-term profit increase due to elimination of SG&A and R&D expenses related to rocatinlimab • Certain negative profit impact expected in the medium to long term ◼ Revision of FY2026 Earnings Forecast ⚫ Currently under review; revision to the earnings forecast will be disclosed at the time of the Q1 FY2026 earnings announcement Source: Kyowa Kirin, “Discontinuation of Clinical Trials for Rocatinlimab,” disclosed on March 4, 2026.
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27© Kyowa Kirin Co., Ltd. Key Priorities Under the New C-Suite Executive Team ◼ ROE in the low 10% *For acute myeloid leukemia with menin dependency To realize Life-changing value and achieve the financial targets of “Vision 2030 and beyond : Our Growth Story” we clarify the growth pillars as follows: Maximize the value of our key products Establish the next-generation growth platform focusing on priority disease areas Drive Operational Excellence to Support Growth ⚫ Continue robust growth of Crysvita and Poteligeo, with value maximization through lifecycle management initiatives ⚫ Successful development and commercialization of pipeline assets in priority disease areas (expansion of KOMZIFTI’s indication to AML*¹ first-line treatment, KK8123, KK2845, OTL-203 etc..) ⚫ Transform the operating model through AI and DX ⚫ Simplify Processes, Focus Resources, and Stay Agile Mid- to Long-term Financial Targets (in the early 2030s) ◼ Core operating margin of 30% Actively pursue strategic investments with financial discipline Creating and delivering Life-changing value ⚫ Accelerate growth through proactive strategic investments (in-licensing, M&A) in our focus areas 1 2 3 4 Source: Kyowa Kirin, “Results Presentation Fiscal 2026 First Quarter” disclosed on May 7, 2026.
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28© Kyowa Kirin Co., Ltd. （Billion JPY） 2023 Actual 2024 Actual 2025 Actual 2026 Rev. Plans Core Operating Profit [Core Operating Profit Margin] (Current Metric) 96.8 [22%] 95.4 [19%] 103.1 [21%] 119.0 [23%] Excluded Amortization of intangible assets (sales rights) 5.6 7.6 7.6 11.0 Equity method investment P&L 0.9 3.5 0.8 0.0 Non-recurring items － － － － Core Operating Profit [Core Operating Profit Margin] (Revised Metric) 101.4 [23%] 99.4 [20%] 109.8 [22%] 130.0 [25%] Change in Core Performance Metrics from FY2026 Reviewing performance management post 2021-2025 Mid-term Business Plan, we change core performance metrics anticipating the impact of IFRS 18 "Presentation and Disclosure in Financial Statements" effective FY2027. ◼ Consolidated P/L display change (intro of 3 categories: operating, investing, financing) →Equity method investment P&L excluded from operating profit ◼ Intro of "Management-defined Performance Metrics" footnote (audited) for investor comms →Revisions to metrics for better comparability with global pharma, reflecting group's sustainable profitability Background Calculated by deducting SG&A (excl. amortization of intangible assets) and R&D from gross profit, and further excluding non-recurring items as determined by the Company →Compared to previous core operating profit, amortization of intangible assets (amortization of selling rights) and equity in earnings of affiliates are excluded Details Source: Kyowa Kirin, “FY2025 Financial Results Briefing,” disclosed on Feb 9, 2026. (Updated 2026 Plans)
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29© Kyowa Kirin Co., Ltd. From the fiscal year ending December 2027, the presentation of our consolidated statement of profit or loss will be revised as outlined below. Ahead of this change, we have updated our performance indicators starting from the fiscal year ending Dec. 2026. Core Operating Profit: Gross profit less selling, general and administrative expenses, R&D expenses, and related non-recurring items. Core Profit for the Year: Core operating profit less related income tax expense. Core EPS: Core profit for the year divided by the weighted average number of shares outstanding. Current Presentation (through FY2025) Current Core Metrics (through FY2025) New Core Metrics (from FY2026) IFRS 18 (from FY2027) Revenue Cost of Sales Gross Profit SG&A R&D Expenses (Amortization of Intangible Assets) ※ Equity-method profit/loss Other Operating Income / Expenses Revenue Cost of Sales Gross Profit SG&A R&D Expenses Amortization of Intangible Assets Equity-method profit/loss Other Operating Income / Expenses Operating Profit Profit Before Finance and Income Taxes Other Investment Income / Expenses Profit Before Tax Finance income / costs Income Tax Expense Profit for the Year Core Operating Profit (excluding non-recurring items) Core Operating Profit Finance income / costs Finance income / costs Profit Before Tax Profit for the Year Income Tax Expense Income Tax Expenses (Excl. other income/expenses) Core Profit for the Year Core EPS Core Profit for the Year Core EPS Income tax expense (Core operating profit items) [Ref.] Impacts arising from the adoption of IFRS 18 “Presentation and Disclosure in Financial Statements Operating Investment Finance *Amortization of intangible assets (amortization of selling rights) was included in SG&A until 2025. Beginning in 2026, it has been separately disclosed as amortization of intangible assets due to increased materiality.
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30© Kyowa Kirin Co., Ltd. Operating CF before R&D expenses Cash to be generated in 2026-2028 ¥ 660 B ⚫Operating CF 280 ⚫ R&D expenses 380 Consider leveraging debt when appropriate ⚫ Investment in a US biopharmaceutical manufacturing facility and IT, DX and AI investments AllocationSource Share buyback will be considered flexibly ⚫ Share buyback will be considered flexibly, taking into account the status of strategic investments, business performance, and share price trends, with a focus on ROE Capital Allocation Policy (2026–2028) While properly allocating the generated cash flow to investments for organic growth and to dividends, we will also allocate c ash for future inorganic growth with discipline. ¥ 40 B Dividend R&D CAPEX Cash on hand EMBU business restructuring Consistent Investment for Organic Growth Strategic cash allocation for Inorganic growth Stable Shareholders Return ⚫ DOE 4%+ ⚫ Progressive dividend ¥ 380 B ¥ 110 B ¥ 130 B ¥ 220 B (End of FY2025) ⚫ Strategic investments will, in principle, be considered within the scope of available cash on hand; however, the use of external debt will also be considered as necessary. (Even when making use of debt financing, we will, as a rule, maintain discipline by keeping the net D/E ratio within 0.5x or lower.) Strategic investment Investment CF Source: Kyowa Kirin, “Kyowa Kirin Equity Story” disclosed in June 2026.
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© Kyowa Kirin Co., Ltd. P/L Impact on EMEA established medicines portfolio Before Aug 2023 After Aug 2023 2024 2025 2026 Revenue COGs SG&A Equity method Other income Product sales Disposal proceeds Share transfer * 49% of profit for Joint Venture Collaboration, Grünenthal Meds 51% of Grünenthal Meds share has transferred (Aug 1) Gain on sales of 51% share＋ gain on valuation of remaining 49% share at ￡80.9M (JPY 14.8B) in total £ 62.5M (JPY 11.4B) Contingency income £8.5M (JPY 1.6B) Tostran until Oct * Kyowa Kirin International plc (“KKI”) transferred the remaining assets related to its established pharmaceutical business, including the IP for 9 brands (down from 13), to Grünenthal in the Q1 of FY2026. In prior periods, options held under a collaboration agreement were measured at fair value and recognized as liabilities. Following the termination of the option agreements, the derivative liabilities were reversed and a gain on derivative remeasurement was recognized. Tostran IP transfer （ADVANZ PHARMA） Established portfolio 13 brands SG&A costs Cost of product sales Transfer of residual assets + Realization of unrealized profits IP transfer £ 66.4M(JPY13.1B) IP transfer 1 brand 9 brands 3+1 brands Sales Royalties & license fees 3 brands Royalties decrease due to early IP transfer unrealized 49% of the transfer value 31 £38.5M (JPY7.7B) *Incl. price adj. diff. for 3 brands transferred last year JPY 4.3 B Disposal of shares + derivative valuation gains
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32© Kyowa Kirin Co., Ltd. Key Development Pipeline (1) Disease in development*1 Planned approval year*2 Development status Market size*3 Number of patients*4 ziftomenib AML (NPM1-m or KMT2A-r, Newly Diagnosed) TBD P3 (Global) ★★★★ 20K KK8398 infigratinib Achondroplasia TBD P3 (Japan) ★ 1 in 20K live births Hypochondroplasia TBD P3 (Japan) In preparation ★ 1 in 33K live births OTL-200 Metachromatic Leukodystrophy TBD P3 (Japan) In preparation ★ 1 in 100K live births*6 KHK4951 tivozanib eyedrop nAMD TBD P2 (JP/US) ★★★★★ 2672K DME TBD P2 (JP/US) ★★★★ 2219K OTL-203 MPS-IH (Hurler Syndrome) 2029/2030 Registrational study*5 (US, EU) ★ 1 in 100K live births*6 OTL-201 MPS-IIIA (Sanfilippo syndrome type A) TBD Proof-of-concept study*7 ★ ~1 in 100K live births *1 This refers to diseases under development at the time of this presentation and may differ from the final indications approved by regulatory authorities. *2 Represents the anticipated year of regulatory approval for the indication currently under development. *3 Market size is our own independent estimate based on the total of all products for the “disease under development.” The colored section is global, the rest are values for Japan only. ★: Under 50 billion yen, ★★: 50 billion yen or more– Under 100 billion yen, ★★★: 100 billion yen or more– Under 500 billion yen, ★★★★: 500 billion yen or more– Under 1 trillion yen, ★★★★★: 1trillion yen or more *4 This is an independent estimate by our company. Colored sections are values for global, the rest for Japan only. *5 Equivalent to phase 3 trial. *6 “1 in 100,000” is for all MPS-I cases,Hurler syndrome accounts for 60% of this value. *7 P1/2 Equivalent to trial. As of Aug 3, 2026
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33© Kyowa Kirin Co., Ltd. Key Development Pipeline (2) Disease in Development*1 Development Status Modality, Technology Used KK4277 Systemic Lupus Erythematosus Cutaneous Lupus Erythematosus P1 (Japan/Asia) Antibody, POTELLIGENT® KK2260 Advanced/Metastatic Solid Tumors P1 (JP: Ongoing, US: Prep) Antibody, REGULGENTTM KK2269 Advanced/Metastatic Solid Tumors P1 (JP/US) Antibody, REGULGENTTM KK2845 Acute Myeloid Leukemia (AML) P1 (Japan) Antibody-Drug Conjugate (ADC) KK8123 XLH P1 (US/EU) Antibody KK3910 Essential Hypertension P1 (Japan) Antibody KK2223 CTCL, PTCL P1 (US/EU) Targeted Therapy *1 Diseases in development as of this presentation; final approved indications may differ from regulatory authorities. As of Aug 3, 2026
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34© Kyowa Kirin Co., Ltd. Key Development Pipeline: Future Plans Product Name Target Disease Development Phase 2026 2027 2028 ＋ ziftomenib ALL P1a1 (KMT2A-r) AML P1a1 (non NPM1-m / non-KMT2A-r AML) P1 P11 P3 P2 OTL-203 MPS-I (Hurler Syndrome) Registrational7 OTL-200 MLD P3 In preparation KK8398 Achondroplasia P3 KOMET- 0012 KOMET- 0073 KOMET- 0084 KOMET- 0175 1. Dose escalation ongoing, 2. 2L+ Mono, 3. 1L, 2L+, Combinations with cytarabine + daunorubicin (7+3), venetoclax + azacitidine, and 7+3 and quizartinib, 4. 2L+, Combination with gilteritinib, FLAG- IDA, LDAC, 5. 1L, Combinations with cytarabine + daunorubicin (7+3), and venetoclax + azacitidine, 6. Japan P2 monotherapy study in R/R NPM1-m AML, 7. Equivalent to P3. Studies of zftomenib on this slide sponsored by Kura Oncology. Bar graphs correspond to clinicaltrials.gov timelines Orange: Ongoing Gray: Pre-initiation or Completed KOMET- J0016 As of Aug 3, 2026
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35© Kyowa Kirin Co., Ltd. Key Development Pipeline: Future Plans Bar graphs correspond to clinicaltrials.gov timelines Product Name Target Disease Development Phase 2026 2027 2028 ＋ KHK4951 tivozanib eyedrop nAMD P2 DME P2 KK4277 SLE CLE P1 KK2260 Advanced/Metastatic Solid Tumors P1 KK2269 Advanced/Metastatic Solid Tumors P1 KK2845 Relapsed/Refractory AML And Other Hematologic Malignancies P1 KK8123 XLH P1 KK3910 Essential HTN P1 KK2223 CTCL, PTCL P1 In preparation P1 study nearly complete. Reviewing results to determine next steps. Orange: Ongoing Gray: Pre-initiation or Completed As of Aug 3, 2026
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36© Kyowa Kirin Co., Ltd. Ziftomenib Assets in focus disease areas Disease areas Hematology/ Hemato-oncology Market potential New Patient 22k/year US New Patient 7k/year Japan Acute Myeloid Leukemia Up to ~50% of overall AML patients are eligible In development for relapsed/refractory and front-line AML with NPM1 mutation, KMT2A rearrangement, and FLT3 mutation Differentiated by deep and durable efficacy, combinability with other agents, safety, and a simple dosing schedule Total Accessible Market1 ~7B USD (US) Modalities Small Molecule (Once daily, oral) Commercialization Leveraging Hematology/ Hemato-oncology Franchise Efficacy Compatibility Safety Simplicity Deep and durable clinical responses Once-daily oral dosing without weight- based adjustments or complex tablet combinations No interaction-driven dose modifications or additional toxicity beyond standard therapy expectations Manageable safety and tolerability profile US Creating Innovative Life-changing value 1Kura Oncology estimate.
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37© Kyowa Kirin Co., Ltd. KHK4951 Assets in focus disease areas Patients 2670k Global nAMD Existing Market Size2 1Trillion Yen~ In development for neovascular Age-related Macular Degeneration (nAMD) and Diabetic Macular Edema (DME) Pursuing the potential to deliver the first anti-VEGF eye drop treatment for diseases where intravitreal injection is the SOC1 DME Patients 2220k Existing Market Size2 500B~1Tyen Lancet 2012; 379: 1728–38 Nano-crystallized tivozanib Efficient posterior eye delivery Strategic Partnering Assets Global KHK4951 Disease areas Ophthalmology Modalities Small Molecule (Eyedrop) Commercialization Exploring Strategic Partner Market Potential Market Potential 1 Standard of Care, 2 Market size is our own independent estimate based on the total of all products for the disease under development. Creating Innovative Life-changing value
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38© Kyowa Kirin Co., Ltd. KK2845 New Patients 22k/year New Patients 7k/year Acute Myeloid Leukemia Existing Market Size 500B~1 Trillion Yen Modified from: Kikushige Y et. al., Cell Stem Cell, 2015 Leukemic stem cells (LSC) TIM-3 Proliferation of AML cells TIM-3 signaling Galectin-9 (TIM-3 Ligand) US Japan Disease areas Hematology/ Hemato-oncology Modalities Antibody Drug Conjugate Commercialization Leveraging Hematology/ Hemato-oncology Franchise Kyowa Kirin’s first ADC in development for relapsed/refractory acute myeloid leukemia (AML) Targeting TIM-3 with the ADC to reach leukemic stem cells and blasts — aiming for a fundamental cure of the disease Targeting Market Potential US KK2845 Creating Innovative Life-changing value Assets in focus disease areas
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39© Kyowa Kirin Co., Ltd. FX Info 2025 Jan-Jun 2026 Jan-Jun YoY 2026 Rev. Plans* USD 150 157 +7 ¥150 GBP 193 212 +19 ¥205 EUR 162 184 +22 ¥180 Revenue Core OP USD +6.9 +3.8 GBP +0.3 -1.0 EUR +4.4 +2.5 Sensitivity Revenue Core OP USD 1 yen Weaker +1.8B +0.6B GBP 1 yen Weaker +0.1B -0.1B EUR 1 yen Weaker +0.4B +0.2B Period Avg. FX Rate (yen) FY2026 YTD Q2 FX Impact (vs FY25, billion yen) FY2026 FX Sensitivity (vs FY26 Rev. Plans, billion yen) *There has been no change in the foreign exchange assumptions from those used in the FY2026 plans announced on February 9, 2026.
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40© Kyowa Kirin Co., Ltd. Ziftomenib ~Kura Oncology Collaboration~ Kyowa Kirin to pay $330M upfront, up to $1,161M milestones. Includes: $420M near-term milestones, $228M solid tumor option, future global sales royalties. US Ex-US Dev. ◼ Kura leads Dev. ◼ Dev. costs 50/50 ◼ Kura funds Dev. (~2028) ◼ Kyowa Kirin leads Dev. Commercial. ◼ Kura books sales ◼ 50/50 Profit Share ◼ Kyowa Kirin sells & books sales Sales Royalties ◼ Kyowa Kirin pays double-digit % sales royalties Supply ◼ Kura supplies ◼ Kura supplies
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41© Kyowa Kirin Co., Ltd. Crysvita ~Ultragenyx Collaboration~ Economic Terms US･Canada ◼ Kyowa Kirin books sales ◼ 50/50 profit share for 5 years post-launch ◼ From Yr 6 (Apr 27, 2023), tiered sales royalties to Ultragenyx (mid-to-high 20s%) Europe ◼ Kyowa Kirin books sales ◼ Sales royalties to Ultragenyx (<10%) Latin America ◼ Ultragenyx books sales ◼ Kyowa Kirin receives sales royalties (low single-digits%). Turkey ◼ Ultragenyx books sales ◼ Kyowa Kirin receives sales royalties (≤20%). Asia & Other ◼ Kyowa Kirin books sales *Kyowa Kirin supplies product in all regions.
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42© Kyowa Kirin Co., Ltd. Est. Patients Disease Country/ Region Incidence Prevalence1 Source PTCL Japan, US, EU4+UK 59,000 Clarivate - Decision Resources NK/T-Cell Lymphoma - Epidemiology Report CTCL Japan 2,000 MHLW 2017 Patient Survey, by Disease US 1,500 / year SEER Data (2001-2007) XLH Japan 1:20,000 Adults: 5,000 Peds: 1,000 Est. based on incidence; Nationwide survey of fibroblast growth factor 23 (FGF23)-related hypophosphatemic diseases in Japan: prevalence, biochemical data and treatment. (Endo I et al., Endocr J., 2015) Europe 1:20,000 Adults: 12,000 Peds: 3,000 Est. based on incidence US 1:20,000 Adults: 12,000 Peds: 3,000 Est. based on incidence; New perspectives on the biology and treatment of X-linked hypophosphatemic rickets. (Carpenter TO, Pediatr Clin North Am., 1997) TIO Japan 30 MHLW 2010 Epi Survey on Hormone Receptor Abnormalities US 500-1,000 Ultragenyx survey nAMD Japan, US, EU 2,700,000 Decision Resources survey MLD Global 1:100,000 Mahmood et al. Metachromatic Leukodystrophy: A Case of Triplets with the Late Infantile Variant and a Systematic Review of the Literature. Journal of Child Neurology 2010, MPS-IH Global 1:100,0002 Puckett et al. 2021 Orphanet J Rare Dis 16:241: US NBS data (MPS-I incidence derived from NBS data in Table 3) MPS-IIIA Global ~1:100,000 Shapiro EG, et al. J Pediatr. 2016 Mar;170:278-87.e1-4. AML Japan US 7,000 / year 22,000 / year MHLW 2020 Patient Survey, by Disease National Cancer Institute. Cancer Stat Facts: Leukemia 1. Prevalence is est. # per total population of country/region; 2. Value for total MPS-I per 100k live births; Hurler is approx. 60% of this.
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43© Kyowa Kirin Co., Ltd. Abbreviations AG Authorized Generic Authorized Generic ALL Acute lymphoblastic leukemia Acute Lymphoblastic Leukemia AML Acute Myeloid Leukemia Acute Myeloid Leukemia BS Biosimilar Biosimilar CTCL Cutaneous T-cell Lymphoma Cutaneous T-cell Lymphoma DME Diabetic Macular Edema Diabetic Macular Edema EMEA Europe, Middle East, & Africa Europe, Middle East, & Africa JP Japan Japan LCM Lifecycle Management Lifecycle Management MLD Metachromatic Leukodystrophy Metachromatic Leukodystrophy MPS-IH Mucopolysaccharidosis type I, Hurler syndrome Mucopolysaccharidosis type I (Hurler Syndrome) MPS-IIIA Mucopolysaccharidosis type IIIA Mucopolysaccharidosis type IIIA (Sanfilippo Syndrome type A) NA North America North America nAMD Neovascular Age-related Macular Degeneration Neovascular Age-related Macular Degeneration PTCL Peripheral T-cell Lymphoma Peripheral T-cell Lymphoma TIO Tumor-Induced Osteomalacia Tumor-Induced Osteomalacia XLH X-linked Hypophosphatemia X-linked Hypophosphatemia
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44© Kyowa Kirin Co., Ltd. Reference Information URL Vision 2030 and Beyond: Our Growth Story (February 2026) Click here for the material→ LINK Kyowa Kirin Equity Story (June 2026) Integrated Report 2025 (May 2026) Click here for the material→ LINK Click here for the material→ LINK
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45© Kyowa Kirin Co., Ltd. This document contains forward-looking statements regarding the outlook, targets, plans, and other future-related matters of the Company (including its consolidated subsidiaries in Japan and overseas). These statements are based on our reasonable judgments using current information and forecasts but involve uncertainties that could cause actual results to differ materially. These uncertainties include, but are not limited to, risks inherent in the domestic and international pharmaceutical industry, intellectual property rights, side effects, legal regulations, product defects, fluctuations in raw material/fuel prices, market prices, and exchange/financial markets. This document is for investor information purposes only and contains information on pharmaceuticals (including products under development), but it is not intended for promotional advertising or medical advice.
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～Contact for Inquiries Regarding This Material～ Kyowa Kirin Co., Ltd. Finance Dep., IR Group +81-3-5205-7206 / ir@kyowakirin.com