Interim report
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Q3 2026 report Underpinning a strong growth momentum "We delivered another strong quarter, with sustained portfolio growth while advancing launches and expanding access to important therapies for people with rare diseases." - Guido Oelkers, President & CEO Third Quarter 2026 • Total revenue increased 16 per cent at CER (constant exchange rates), 17 per cent at actual rates, to SEK 9,124 M (7,776), leading to a year-to-date growth of 23 per cent at CER • Haematology revenue increased 29 per cent at CER to SEK 6,171 M (4,771), mainly driven by strong sales of Altuvoct of SEK 1,729 M (769) and of Doptelet of SEK 1,829 M (1,408) • Immunology revenue decreased 6 per cent at CER to SEK 2,525 M (2,658), impacted by lower quarterly revenue from Beyfortus royalties of SEK 732 M (1,166), partially offset by strong sales of Gamifant of SEK 834 M (733) and Kineret of SEK 959 M (769) • Revenue from the strategic portfolio1 grew by 25 per cent at CER to SEK 6,298 M (5,001) • The adjusted EBITA margin1,2 was 45 per cent (47), excluding IAC2 of SEK 97 M (6,664). EBITA1 was SEK 3,990 M (3,620), corresponding to a margin of 44 per cent (47). EBIT was SEK 3,226 M (-3,858) • Earnings per share (EPS) before dilution was SEK 6.76 (-8.40) and EPS after dilution was SEK 6.69 (-8.32). Adjusted EPS before dilution1 was SEK 6.96 (6.11) and adjusted EPS after dilution1 was SEK 6.89 (6.05) • Cash flow from operating activities was SEK 1,871 M (1,840) • Guido Oelkers to step down as Sobi CEO no later than the end of January 2027 • After the quarter, Tryngolza received a positive CHMP opinion for the treatment of sHTG in Europe Outlook 2026 - Updated • Revenue is anticipated to grow by high-teens to low-20s per cent at CER (previously, mid- to high-teens per cent) • The adjusted EBITA margin is anticipated to be in the mid- to high-30s per cent of revenue (unchanged) Q3 Q3 Jan-Sep Jan-Sep FY SEK M 2026 2025 Change 2026 2025 Change 2025 Total revenue 9,124 7,776 17% 24,150 20,417 18% 28,238 Gross profit 7,123 6,162 16% 18,573 15,788 18% 21,986 Gross margin1 78% 79% 77% 77% 78% Adjusted gross margin1,2 79% 80% 77% 78% 79% EBITA1 3,990 3,620 10% 9,445 7,743 22% 10,817 Adjusted EBITA1,2 4,087 3,672 11% 9,584 8,124 18% 11,341 EBITA margin1 44% 47% 39% 38% 38% Adjusted EBITA margin1,2 45% 47% 40% 40% 40% Profit for the period 2,349 -2,895 181% 4,766 -1,386 444% 476 EPS before dilution, SEK 6.76 -8.40 180% 13.75 -4.02 442% 1.39 Adjusted EPS before dilution, SEK1,2 6.96 6.11 14% 15.08 11.25 34% 16.95 EPS after dilution, SEK 6.69 -8.32 180% 13.60 -3.99 441% 1.37 Adjusted EPS after dilution, SEK1,2 6.89 6.05 14% 14.92 11.14 34% 16.79 1. Alternative Performance Measures (APMs), see section APM for further information. 2. Items affecting comparability (IAC), see page 3 for further information. Sobi® Q3 2026 report 1
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CEO statement We maintained strong growth momentum in the third quarter with 16 per cent growth at CER and an adjusted EBITA margin of 45 per cent, leading to a 23 per cent growth on a year-to-date basis at CER. Excluding seasonal RSV revenue, the Sobi portfolio grew 26 per cent at CER in the quarter, underscoring the strength of our on-market medicines. We made significant progress across a number of strategic milestones. In Japan we secured approvals for Gamifant in HLH/MAS in Still's disease and for Aspaveli in C3G and IC-MPGN. Additionally, after the end of the quarter, ahead of schedule, we received a positive CHMP opinion in Europe for Tryngolza in sHTG. In October, we also strengthened our global footprint by acquiring full ownership of Pint Pharma in Latin America, giving us an established platform to launch and grow our business in a dynamically growing region. Haematology revenue increased by 29 per cent at CER in the quarter. Revenue was driven by the launch of Altuvoct and the continued strong growth of Doptelet. Momentum in the Altuvoct rollout continues across major markets. Our focus remains on expanding access and enabling more patients to benefit from this important therapy. During the quarter, our combined haemophilia A sales increased by 48 per cent at CER. The European launch of Aspaveli in C3G and IC-MPGN is progressing well. We have already achieved our full-year ambition for patients on therapy, with about two-thirds of patients now on commercial therapy. Approval in Japan during the quarter further expanded the medicine’s geographic reach. Immunology revenue decreased by 6 per cent at CER in the quarter, impacted by lower quarterly revenue from Beyfortus royalties, partially offset by strong performance from Gamifant and Kineret. Gamifant continued to see strong growth, driven by increased demand in HLH/MAS in Still's disease and grew 12 per cent at CER in the quarter on top of high growth in Q3 2025. In Specialty Care, we were particularly pleased to receive a positive CHMP opinion from EMA, following quarter-end, for Tryngolza for the treatment of severe hypertriglyceridemia (sHTG). This marks a key milestone in expanding Tryngolza’s reach and builds momentum towards an earlier launch in 2027 than previously expected. As I prepare to hand over the leadership of Sobi as previously announced, by no later than January 2027, I would like to thank our employees, patients, partners and shareholders for their trust and support. It has been a privilege to lead this company during a period of significant growth and transformation. Above all, I am proud of the difference we have made for people living with rare and severe diseases and of our continued commitment to serving patients and their families. Sobi is in excellent shape, with a dynamic, growing and diversified business and an exciting outlook supported by significant launches and our pipeline. I am proud of what we have built together and confident that the company is exceptionally well positioned to seize the opportunities ahead. Stockholm, Sweden, 27 October 2026 Guido Oelkers, President & CEO Sobi Q3 2026 report 2
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Financial performance Total revenue Total revenue for July to September ('the quarter') was SEK 9,124 M (7,776) and increased by 17 per cent compared with the same period a year ago and by 16 per cent at CER. Strong growth from Altuvoct, Doptelet, Kineret and Aspaveli was partially offset by lower royalty on Beyfortus and lower sales for Elocta. Total revenue for January to September ('the year-to-date period') was SEK 24,150 M (20,417) and increased by 18 per cent compared with the same period a year ago and by 23 per cent at CER. Q3 Q3 Change Jan-Sep Jan-Sep Change FY SEK M 2026 2025 Change at CER 2026 2025 Change at CER 2025 Haematology 6,171 4,771 29% 29% 17,083 13,974 22 % 27 % 19,116 Immunology 2,525 2,658 -5% -6% 5,880 5,472 7 % 12 % 7,809 Specialty Care 428 347 23% 23% 1,187 971 22 % 25 % 1,312 Total 9,124 7,776 17% 16% 24,150 20,417 18 % 23 % 28,238 Items affecting comparability (IAC) Items affecting comparability (IAC) are outlined in the table below. The quarter mainly reflects a SEK 73 M write-down of pre-launch inventory intended for commercial use for NASP and pozdeutinurad. Q3 Q3 2026 Jan-Sep Jan-Sep 2026 SEK M 2026 IAC adjusted 2026 IAC adjusted Total revenue 9,124 — 9,124 24,150 — 24,150 Cost of goods sold1,2 -2,002 73 -1,929 -5,577 135 -5,442 Gross profit 7,123 73 7,195 18,573 135 18,708 Gross margin 78% 79% 77% 77% Selling and administrative expenses3,4 -2,828 — -2,828 -8,787 498 -8,289 Research and development expenses3 -1,078 7 -1,071 -3,168 40 -3,128 Operating expenses -3,905 7 -3,899 -11,955 538 -11,417 Other operating income/expenses5 8 18 26 103 -83 20 Operating profit (EBIT) 3,226 97 3,323 6,720 590 7,311 Plus amortisation and impairment of intangible assets 764 — 764 2,725 -452 2,273 EBITA 3,990 97 4,087 9,445 139 9,584 EBITA margin 44% 45% 39% 40% The table is non-IFRS financial information, refer to the APM section for further details. See the Consolidated statement of comprehensive income for an IFRS income statement. 1. Relates to the dissolvement of the fair value adjustment originating from the PPA related to the acquired inventory from CTI of SEK 43 M in the year-to- date period. 2. Relates to write-down of preapproved inventory intended for commercial use for NASP and pozdeutinurad of SEK 73 M in the quarter and SEK 93 M in the year-to-date period, pending FDA approval. 3. Relates to the acquisition of Arthrosi and refers to integration costs of SEK 7 M in the quarter and SEK 40 M in the year-to-date period, as well as transaction costs of SEK 47 M in the year-to-date period. I n t e g r a t i o n c o s t s r e f e r t o p o s t ‑ a c q u i s i t i o n a c t i v i t i e s r e l a t e d t o p e r s o n n e l a n d systems. 4. Relates to impairment in Q2 of the product and marketing right Zynlonta of SEK 452 M, following the result of the LOTIS-5 Phase 3 confirmatory trial in the second-line treatment of DLBCL. See also Note 6. 5. Relates to fair value movements on contingent considerations linked to the Arthrosi acquisition. Sobi Q3 2026 report 3
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Q3 Q3 2025 Jan-Sep Jan-Sep 2025 FY FY 2025 SEK M 2025 IAC adjusted 2025 IAC adjusted 2025 IAC adjusted Total revenue 7,776 — 7,776 20,417 — 20,417 28,238 — 28,238 Cost of goods sold1,2,3 -1,614 53 -1,562 -4,629 176 -4,453 -6,252 284 -5,968 Gross profit 6,162 53 6,214 15,788 176 15,964 21,986 284 22,270 Gross margin 79% 80% 77% 78% 78% 79% Selling and administrative expenses3,4,5 -9,241 6,612 -2,629 -14,793 6,749 -8,044 -17,756 6,783 -10,973 Research and development expenses3 -754 — -754 -2,438 68 -2,370 -3,317 68 -3,249 Operating expenses -9,995 6,612 -3,382 -17,231 6,817 -10,414 -21,074 6,851 -14,222 Other operating income/ expenses -26 — -26 -48 — -48 -45 — -45 Operating profit (EBIT) -3,858 6,664 2,806 -1,491 6,993 5,502 867 7,136 8,003 Plus amortisation and impairment of intangible assets 7,478 -6,612 866 9,234 -6,612 2,622 9,950 -6,612 3,338 EBITA 3,620 53 3,672 7,743 381 8,124 10,817 524 11,341 EBITA margin 47% 47% 38% 40% 38% 40% The table is non-IFRS financial information, refer to the APM section for further details. See the Consolidated statement of comprehensive income for an IFRS income statement. 1. The year includes the dissolvement of the fair value adjustment originating from the PPA related to the acquired inventory from CTI of SEK 262 M. The year also included a release of provisions of SEK -11 M linked to the discontinuation of contract manufacturing for Pfizer, due to final severance payments. 2. The year includes a write-down of pre-launch inventory intended for commercial use of SEK 31 M related to NASP, pending FDA approval. 3. The year includes restructuring costs of SEK 208 M, of which SEK 3 M was allocated to cost of goods sold, following the organisational changes primarily in the US operations and the R&D functions made to enhance efficiencies and ensure prioritisation in line with Sobi's strategy. 4. The year includes transaction costs of SEK 34 M related to the acquisition of Arthrosi. 5. Refers to the impairment of the product- and marketing right Vonjo of SEK 6,612 M as a consequence of prevailing competition in the US Myelofibrosis market, constrained growth potential in our label for patients with <50k platelets and recent negative gross-to-net adjustments that have caused a weaker than expected sales development. Gross profit Gross profit was SEK 7,123 M (6,162) in the quarter, and the gross margin was 78 per cent (79). Gross profit for the quarter included IAC of SEK 73 M (53), excluding these, the gross margin was 79 per cent (80). The slight decrease was mainly driven by a lower share of Beyfortus royalty revenue. In the year-to-date period, gross profit was SEK 18,573 M (15,788), including IAC of SEK 135 M (176). The gross margin excluding IAC was 77 per cent (78). Operating expenses Selling and administrative expenses were SEK 2,828 M (9,241) in the quarter, including amortisation and impairment of SEK 764 M (7,478). IAC, including impairment, amounted to SEK 0 M (6,612). Excluding these costs and amortisation and impairment, the selling and administrative expenses increased by 16 per cent at CER. The increase was due to launch and pre-launch activities for the Aspaveli nephrology indication and Tryngolza. This was partially offset by lower costs for Doptelet. In the year-to-date period, expenses were SEK 8,787 M (14,793) and included IAC of SEK 498 M (6,749) and amortisation and impairment of SEK 2,725 M (9,234). Excluding IAC and amortisation and impairment, the increase was 13 per cent at CER. R&D expenses were SEK 1,078 M (754) in the quarter. IAC amounted to SEK 7 M (—). Excluding IAC, the R&D expenses increased by 41 per cent at CER. The increase was mainly due to the addition of development programs from the acquisition of Arthrosi. In the year-to-date period, expenses were SEK 3,168 M (2,438) and included IAC of SEK 40 M (68). Excluding IAC, the increase was 36 per cent at CER. Operating profit EBITA was SEK 3,990 M (3,620) in the quarter, corresponding to a margin of 44 per cent (47). Adjusted EBITA was SEK 4,087 M (3,672), corresponding to an adjusted margin of 45 per cent (47). In the year-to-date period, EBITA was SEK 9,445 M (7,743), corresponding to a margin of 39 per cent (38). Adjusted EBITA was SEK 9,584 M (8,124) corresponding to an adjusted margin of 40 per cent (40). Operating profit was SEK 3,226 M (-3,858) in the quarter and SEK 6,720 M (-1,491) in the year-to-date period. Sobi Q3 2026 report 4
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Net financial items Net financial items were SEK -204 M (-168) in the quarter and SEK -581 M (-646) in the year-to-date period. The year-to-date improvement was mainly driven by lower interest rates and lower interest expenses on contingent considerations. Income tax Income tax was SEK -689 M (1,132) in the quarter, corresponding to an effective tax rate (ETR) of 22.7 per cent (28.1). In the year-to-date period, income tax was SEK -1,366 M (752), corresponding to an effective tax rate of 22.3 per cent (35.2). The prior-year tax rate was affected by a one-time deferred tax effect related to the impairment of Vonjo in the third quarter. Excluding this effect, the prior-year tax rate was 20.1 per cent. Profit/loss Profit/loss in the quarter totalled SEK 2,349 M (-2,895) and SEK 4,766 M (-1,386) in the year-to-date period. Cash flow Cash flow from operating activities was SEK 1,871 M (1,840) in the quarter and SEK 4,908 M (5,584) in the year-to-date period. The year-to-date decrease mainly reflects a higher working capital build-up, driven by inventory and receivables, partially offset by higher operating profit. Cash flow from investing activities was SEK -761 M (-2,699) in the quarter and SEK -9,885 M (-3,217) in the year-to-date period. The quarter included a payment of SEK 732 M upon completion of the transaction with Innate Pharma for lacutamab. The year-to-date period investments also included the acquisition of Arthrosi, with a net cash impact of SEK -8,443 M, and milestone payments of SEK -503 M for Aspaveli, related to the EU approval for C3G and IC-MPGN. Cash and net debt On 30 September 2026, cash and cash equivalents were SEK 1,005 M (1,041 on 31 December 2025) and net available committed credit facilities totalled SEK 11,608 M (11,403 on 31 December 2025). Utilised credit facilities, issued bonds and commercial papers totalled SEK 15,826 M (11,158 on 31 December 2025). Net debt was SEK 14,781 M (10,081 on 31 December 2025). The increase in borrowings and net debt is primarily related to the acquisition of Arthrosi during the first quarter. Total equity On 30 September 2026, total equity was SEK 45,424 M (37,723 on 31 December 2025). Personnel On 30 September 2026, the number of full-time equivalent employees was 2,207 (1,888 on 31 December 2025). Parent Company Revenue for the Parent Company, Swedish Orphan Biovitrum AB (publ), was SEK 5,433 M (4,521) in the quarter, of which Group companies accounted for SEK 3,081 M (2,799). In the year-to-date period, revenue was SEK 16,463 M (12,017) of which Group companies accounted for SEK 9,604 M (6,685). The profit/loss totalled SEK 625 M (-4,348) in the quarter and SEK 2,327 M (-3,327) in the year-to-date period. The prior year includes a write-down of SEK 4,981 M on the shares in US Holding Corp. following the impairment of Vonjo. Cash flow from investing activities amounted to SEK -57 M (-2,690) in the quarter and SEK -693 M (-2,886) in the year-to-date period, including milestone payments of SEK -503 M related to Aspaveli. Sobi Q3 2026 report 5
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Haematology Revenue Q3 Q3 Change Jan-Sep Jan-Sep Change FY SEK M 2026 2025 Change at CER 2026 2025 Change at CER 2025 Altuvoct 1,729 769 125% 125% 4,523 1,851 144% 148% 2,873 Elocta 615 812 -24% -24% 2,104 3,075 -32% -29% 3,959 Alprolix 639 601 6% 6% 1,746 1,748 0% 2% 2,306 Royalty1 601 518 16% 14% 1,661 1,548 7% 13% 2,082 Doptelet 1,829 1,408 30% 29% 4,891 3,757 30% 36% 5,265 Aspaveli/Empaveli 417 317 31% 32% 1,142 953 20% 24% 1,218 Vonjo 297 307 -3% -5% 891 915 -3% 3% 1,242 Zynlonta 43 40 6% 6% 125 128 -2% 2% 172 Total 6,171 4,771 29% 29% 17,083 13,974 22% 27% 19,116 1. Royalty from Sanofi’s sales of Eloctate, Alprolix and Altuviiio. Haematology revenue was SEK 6,171 M (4,771) in the quarter and increased by 29 per cent, 29 per cent at CER. In the year-to-date period, revenue was SEK 17,083 M (13,974) and increased by 22 per cent, 27 per cent at CER. Altuvoct sales were SEK 1,729 M (769) in the quarter, following strong launches led by Germany, France, Spain, the UK and Italy, partially offset by order phasing in the International region. In the year-to-date period, sales were SEK 4,523 M (1,851). Elocta sales were SEK 615 M (812) in the quarter and decreased by 24 per cent at CER. Sales of Elocta were, as expected, impacted by the switch of patients to Altuvoct. In the year-to-date period, sales were SEK 2,104 M (3,075) and decreased by 29 per cent at CER. The combined haemophilia A sales (Altuvoct and Elocta) increased by 48 per cent at CER in the quarter and by 38 per cent at CER in the year-to-date period. Alprolix sales were SEK 639 M (601) in the quarter and increased by 6 per cent at CER. In the year-to- date period, sales were SEK 1,746 M (1,748) and increased by 2 per cent at CER. In the quarter, Doptelet sales were SEK 1,829 M (1,408) and increased by 29 per cent at CER. The strong performance was driven by continued increased uptake across markets. In the year-to-date period, sales were SEK 4,891 M (3,757) and increased by 36 per cent at CER. Aspaveli/Empaveli sales were SEK 417 M (317) in the quarter and increased by 32 per cent at CER, mainly reflecting new nephrology patients across launched markets. In the year-to-date period, sales were SEK 1,142 M (953) and increased by 24 per cent at CER. Vonjo sales were SEK 297 M (307) in the quarter and decreased by 5 per cent at CER. The decline was driven by negative phasing in the International region and somewhat lower demand in the US. In the year-to-date period, sales were SEK 891 M (915) and decreased by 3 per cent at CER. Sobi Q3 2026 report 6
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Immunology Revenue Q3 Q3 Change Jan-Sep Jan-Sep Change FY SEK M 2026 2025 Change at CER 2026 2025 Change at CER 2025 Kineret 959 769 25% 24% 2,600 2,253 15% 21% 2,994 Gamifant 834 733 14% 12% 2,362 1,947 21% 28% 2,710 Synagis — -11 n/a n/a — -90 n/a n/a -105 Beyfortus royalty 732 1,166 -37% -39% 918 1,362 -33% -33% 2,211 Total 2,525 2,658 -5% -6% 5,880 5,472 7% 12% 7,809 Immunology revenue was SEK 2,525 M (2,658) in the quarter and decreased by 5 per cent and by 6 per cent at CER. In the year-to-date period, revenue was SEK 5,880 M (5,472) and increased by 7 per cent and by 12 per cent at CER. Kineret sales were SEK 959 M (769) in the quarter and increased by 24 per cent at CER, driven by increased demand across regions. In the year-to-date period, sales were SEK 2,600 M (2,253) and increased by 21 per cent at CER. Gamifant sales were SEK 834 M (733) in the quarter and increased by 12 per cent at CER. The increase was mainly driven by new patients treated for MAS in Still's disease in the US and an overall increase in the total number of patients on treatment. In the year-to-date period, sales were SEK 2,362 M (1,947) and increased by 28 per cent at CER. Royalty from Sanofi's sales of Beyfortus was SEK 732 M (1,166) in the quarter and SEK 918 M (1,362) in the year-to-date period. Specialty Care Revenue Q3 Q3 Change Jan-Sep Jan-Sep Change FY SEK M 2026 2025 Change at CER 2026 2025 Change at CER 2025 Orfadin 108 109 -1% -2% 323 339 -5% -2% 432 Tryngolza 66 — n/a n/a 140 — n/a n/a 4 Waylivra 89 88 0% 1% 223 220 2% 4% 286 Other Specialty Care 166 150 11% 11% 501 412 22% 25% 590 Total 428 347 23% 23% 1,187 971 22% 25% 1,312 Specialty Care revenue was SEK 428 M (347) in the quarter and increased by 23 per cent and 23 per cent at CER, driven by new patients on Tryngolza in FCS, as well as patient growth in other Specialty Care medicines. In the year-to-date period, revenue was SEK 1,187 M (971) and increased by 22 per cent and 25 per cent at CER. Sobi Q3 2026 report 7
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Pipeline For more information, please visit sobi.com/en/pipeline. Pipeline milestones since the previous report (Abbreviations used in the table are explained in the text below) Significant milestones Aspaveli/Empaveli — approved for C3G and primary IC-MPGN in Japan Gamifant — approved for HLH/MAS in Still's disease in Japan Vonjo — FDA Fast Track designation in VEXAS syndrome Haematology Altuvoct: ALTITUDE completes enrolment The Phase 4 ALTITUDE study enrolled its final participant in September, completing recruitment of 252 patients. ALTITUDE is a low-interventional study evaluating joint health outcomes in people with haemophilia A of all severities receiving real-world prophylactic treatment with Altuvoct (efanesoctocog alfa). Results are expected in 2029. Aspaveli/Empaveli: approved in Japan for C3G & primary IC-MPGN In August, the Japanese MHLW approved Empaveli for C3 glomerulopathy (C3G) and primary immune- complex membranoproliferative glomerulonephritis (IC-MPGN). It is the first complement inhibitor in Japan available to paediatric patients aged 12 years and older. This expands Empaveli's reach in Japan beyond its initial 2023 PNH indication to a patient population with historically very limited treatment options. The approval is based on the global Phase 3 VALIANT study. Aspaveli/Empaveli: first participant enrolled in Phase 4 PRISM-C3 study In August, the Phase 4 PRISM-C3 study enrolled its first participant. This low-intervention trial evaluates the real-world effectiveness and safety of pegcetacoplan in C3G and primary IC-MPGN. Its primary endpoint is a urine protein-to-creatinine ratio below 1 g/g at six months. PRISM-C3 will complement the Phase 3 VALIANT evidence with longer-term data from a broad patient population across multiple countries and healthcare settings. Doptelet: first participant enrolled in AVA-AA-350 in aplastic anaemia In September, the first participant was enrolled in AVA-AA-350, a study evaluating Doptelet (avatrombopag) in patients with difficult-to-treat aplastic anaemia. The condition has a markedly higher incidence in Asia, with 5–7 cases per million people, than in Western countries, where the incidence is approximately 2 cases per million. The open-label, single-arm Phase 2/3 study will be conducted in Japan, South Korea and Taiwan. Results are expected in 2028. Vonjo: FDA Fast Track designation in VEXAS syndrome In September, the FDA granted Fast Track designation to pacritinib (Vonjo) for VEXAS syndrome, a rare, progressive systemic disorder with both haematologic and inflammatory features and no currently approved treatment. The designation supports the ongoing PAXIS Phase 2 study — the first randomised trial in VEXAS — which achieved last-participant-in during the summer, with topline data expected in 2027. Immunology Gamifant: first approval for MAS in Japan In September, the Japanese MHLW approved Gamifant (emapalumab) for macrophage activation syndrome (MAS) in systemic juvenile idiopathic arthritis (sJIA) and adult-onset Still's disease (AOSD). It is the first therapy approved for MAS in Japan. The decision was supported by the pivotal EMERALD study. Sobi Q3 2026 report 8
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Gamifant: new primary HLH data at the Histiocyte Society 2026 Annual Meeting Sobi presented new clinical data on Gamifant in primary haemophagocytic lymphohistiocytosis (HLH) at the Histiocyte Society 2026 Annual Meeting in September. This included a new pooled analysis of pre- and post-transplant survival outcomes across three prospective trials (NI-0501-04, -05 and -09). Gamifant in IDS update The EVEREST Phase 2b/3 pivotal study in interferon gamma driven sepsis (IDS) is being expanded to sites outside Europe, with recruitment to start in mid 2027; the Phase 2b efficacy and safety analysis is planned for 2028 and will inform the Phase 3 part of the study. Specialty Care Tryngolza data presented at ESC An interim analysis from the ongoing open label extension from the CORE and CORE2 trials of olezarsen in severe hypertriglyceridemia (sHTG; triglycerides ≥500 mg/dL) was presented at the European Society of Cardiology Congress in August. Tryngolza (olezarsen) continued to reduce triglycerides through week 53 with 68-79 per cent reductions from olezarsen start and achieved persistent reductions in the risk of acute pancreatitis. 90 per cent of patients achieved triglyceride levels <500 mg/dL. Olezarsen was generally well tolerated with no new safety findings. Pipeline news flow Anticipated upcoming pipeline news flow Q4 2026 Tryngolza — sHTG: Europe regulatory decision Gamifant — HLH/MAS in Still's disease: Europe regulatory decision NASP — Uncontrolled gout: FDA resubmission Pozdeutinurad — Progressive gout: REDUCE 1 (AR882-301) topline data (early Q1) 2027 Pozdeutinurad — Progressive gout: REDUCE 1 & 2 secondary data Pozdeutinurad — Progressive gout: NDA submission (FDA) Vonjo — Myelofibrosis: PACIFICA Phase 3 data Vonjo — VEXAS: PAXIS Phase 2 data Sobi Q3 2026 report 9
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Other information Significant events In the quarter Guido Oelkers to step down as CEO of Sobi by the end of January 2027 Guido Oelkers informed the Board of Directors that he has decided to step down as Chief Executive Officer of Sobi to take up another position outside Sobi. Guido Oelkers will remain active in his CEO role until the end of January 2027 at the latest. Lacutamab: strategic partnership with Innate Pharma in T-cell lymphoma In September, Sobi completed its transaction with Innate Pharma to establish a strategic partnership for lacutamab, a first-in-class anti-KIR3DL2 antibody for the treatment of T-cell lymphoma. The partnership enables the initiation of TELLOMAK-3, a confirmatory Phase 3 study in T-cell lymphoma (CTCL), which allows a filing with the US FDA for potential accelerated approval for Sézary syndrome, a rare subtype of CTCL. Innate Pharma will conduct the study. The Phase 3 results are intended to support applications for full approval in key jurisdictions for both Sézary syndrome and mycosis fungoides, the most common subtype of CTCL. Under the agreement, Sobi has obtained exclusive global rights to commercialise lacutamab upon potential accelerated approval, as well as an option to assume full global development rights following positive Phase 3 results. Upon completion of the transaction, Sobi paid Innate Pharma USD 75 M. In addition, Innate Pharma may receive up to USD 40 M in near-term development milestones related to Sézary syndrome, and up to USD 465 M linked to the option for full global development rights and future regulatory and commercial milestones. Innate Pharma is also entitled to tiered double-digit royalties on net sales. After the quarter Sobi acquired full ownership of Pint Pharma On 2 October, Sobi completed its acquisition of Pharma Investments S.A. (“Pint Pharma”), building on the initial investment made in November 2025 and strengthening its presence in Latin America (“LATAM”). Sobi paid USD 62 M at closing, subject to contractual adjustments, with up to USD 40 M in additional payments linked to sales milestones. Since 2021, Sobi and Pint Pharma have worked together to bring important medicines to the region’s largest markets, with further filings planned over the coming years. Pint Pharma is the only company in LATAM solely focused on rare diseases, with expertise in rare and haematological disorders. The transaction will enable Sobi to fully leverage Pint Pharma’s platform to launch Sobi’s medicines across LATAM. For the financial year 2025, audited, Pint Pharma reported revenues of USD 99 M, including revenues from Sobi products of USD 6 M. Reported net loss amounted to USD 3 M and included one- time expenses of approximately USD 6 M related to impairment and accelerated amortisations of intangible assets, inventory adjustments and transaction costs. Due to the proximity of the acquisition date, Pint Pharma being a privately held company and its group structure comprising of several entities, sufficient information is not yet available to complete and present a preliminary purchase price allocation (PPA) in this interim report. The preliminary PPA will be completed and presented in the 2026 Q4 report. Pint Pharma will be consolidated into Sobi’s financial statements from the acquisition date. Tryngolza receives a positive CHMP opinion for the treatment of sHTG in Europe On 16 October, the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) adopted a positive opinion recommending the indication extension for Tryngolza (olezarsen) as an adjunct to diet, in combination with other lipid-lowering therapies, for the treatment of adult patients with severe hypertriglyceridemia (sHTG; fasting triglyceride levels of ≥ 8 8 0 m g / d L [ ≥ 1 0 m m o l / L ] ) . T h e o p i n i o n i s b a s e d o n t h e P h a s e 3 C O R E a n d C O R E 2 r e s u l t s , demonstrating a statistically significant placebo-adjusted mean reduction of up to 72 per cent in triglyceride levels and a significant 85 per cent reduction in the rate of acute pancreatitis events with Tryngolza (olezarsen) compared with placebo. The positive opinion comes ahead of Sobi's previously anticipated timeline and is now referred to the European Commission (EC) for an approval decision, which is expected to be issued in the fourth quarter of 2026. Sobi Q3 2026 report 10
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Sustainability Sobi’s sustainability efforts support the overall mission of working together with stakeholders to find and make available medicines that transform the lives of people with rare and severe diseases and are based on two priorities: • Maintain commitment to patients • Always act responsibly During the quarter, Sobi continued to demonstrate progress on its priorities. In September, Sobi was ranked No. 1 in rare diseases for the second consecutive year in PatientView’s Corporate Reputation of Pharma, Rare Diseases Edition 2025/2026. The ranking reflects the perspectives of more than 500 rare disease patient organisations across 63 countries. Also in September, Sobi participated in the annual awareness days for several patient communities. In honour of World Lymphoma Day, a campaign was launched to raise awareness around the situation for people living with lymphoma and DLBCL. On World Patient Safety Day, Sobi reinforced its commitment to patient safety by launching a new reporting platform accessible to employees, patients and healthcare professionals. For C3G Awareness day, Sobi helped share the voices of people living with C3 glomerulopathy (C3G) and primary immune-complex membranoproliferative glomerulonephritis (IC- MPGN). Additionally, Sobi held events across Europe during Global ITP Awareness Week to show support for people living with Immune Thrombocytopenia (ITP). Financial calendar Q4 2026 report 4 February 2027 Annual and Sustainability report 31 March 2027 Q1 2027 report 28 April 2027 AGM 12 May 2027 Q2 2027 report 15 July 2027 Q3 2027 report 27 October 2027 For a full calendar, please visit sobi.com. Forward-looking statements This report includes forward-looking statements. Actual results may differ from those stated. Internal factors such as the successful management of R&D programmes and intellectual property rights, may affect future results. There are also external conditions such as the economic climate, political changes and competing R&D programmes that may affect Sobi’s results. This information is information that Sobi is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out in the press release concerning this report, on 27 October 2026 at 08:00 CET. Sobi Q3 2026 report 11
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Auditor's review report Introduction We have reviewed the condensed interim report for Swedish Orphan Biovitrum AB (publ) as of 30 September 2026, and for the nine months period then ended. The Board of Directors and the CEO are responsible for the preparation and presentation of this interim report in accordance with IAS 34 and the Swedish Annual Accounts Act. Our responsibility is to express a conclusion on this interim report based on our review. Scope of review We conducted our review in accordance with the International Standard on Review Engagements, ISRE 2410 Review of Interim Financial Statements Performed by the Independent Auditor of the Entity. A review consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and other generally accepted auditing standards in Sweden. The procedures performed in a review do not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Conclusion Based on our review, nothing has come to our attention that causes us to believe that the interim report is not prepared, in all material respects, in accordance with IAS 34 and the Swedish Annual Accounts Act regarding the Group, and in accordance with the Swedish Annual Accounts Act regarding the Parent Company. Stockholm, 27 October 2026 Ernst & Young AB Jonatan Hansson Authorised Public Accountant Sobi Q3 2026 report 12
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Financial statements – condensed Consolidated statement of profit or loss Q3 Q3 Jan-Sep Jan-Sep FY SEK M 2026 2025 2026 2025 2025 Total revenue 9,124 7,776 24,150 20,417 28,238 Cost of goods sold -2,002 -1,614 -5,577 -4,629 -6,252 Gross profit 7,123 6,162 18,573 15,788 21,986 Selling and administrative expenses1, 2, 3 -2,828 -9,241 -8,787 -14,793 -17,756 Research and development expenses -1,078 -754 -3,168 -2,438 -3,317 Other operating income/expenses 8 -26 103 -48 -45 Operating profit 3,226 -3,858 6,720 -1,491 867 Results from shares in associated companies 17 — -7 — -3 Net financial items -204 -168 -581 -646 -831 Profit before tax 3,038 -4,027 6,132 -2,137 34 Income tax -689 1,132 -1,366 752 442 Profit/loss for the period 2,349 -2,895 4,766 -1,386 476 Profit/loss for the period attributable to: Owners of the parent company 2,350 -2,894 4,766 -1,384 478 Non-controlling interests -1 0 0 -2 -2 Earnings per share (EPS), SEK EPS before dilution 6.76 -8.40 13.75 -4.02 1.39 EPS after dilution 6.69 -8.32 13.60 -3.99 1.37 1. Amortisation and impairment of intangible assets included in Selling and administrative expenses. -764 -7,478 -2,725 -9,234 -9,950 2. Year-to-date includes impairment of Zynlonta by SEK 452 M, for more information see Note 6. 3. Full year 2025 includes impairment of Vonjo by SEK 6,612 M, recognised in Q3 2025. Consolidated statement of comprehensive income Q3 Q3 Jan-Sep Jan-Sep FY SEK M 2026 2025 2026 2025 2025 Profit/loss for the period 2,349 -2,895 4,766 -1,386 476 Other comprehensive income Items that will not be reclassified into profit or loss Remeasurements on defined-benefit pension plans and similar plans (net of tax) 0 0 0 10 63 Remeasurement of equity instruments (net of tax) -5 0 1 -18 -24 Total -5 0 1 -8 39 Items that may be reclassified into profit or loss Translation differences 692 -292 2,523 -3,438 -3,890 Net investment hedges (net of tax) -78 18 -250 286 365 Cash flow hedges (net of tax) 12 3 -170 3 -63 Total 625 -271 2,103 -3,148 -3,588 Other comprehensive income 620 -271 2,104 -3,156 -3,549 Total comprehensive income for the period 2,970 -3,166 6,870 -4,542 -3,073 Total comprehensive income for the period attributable to: Owners of the parent company 2,969 -3,166 6,869 -4,539 -3,070 Non-controlling interests 0 -1 1 -3 -3 Sobi Q3 2026 report 13
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Consolidated balance sheet Sep Dec Sep SEK M 2026 2025 2025 ASSETS Non-current assets Intangible assets1 61,245 49,080 49,725 Tangible assets2 1,591 1,631 1,639 Investments in associated companies 993 1,001 — Financial assets 203 176 176 Prepaid production costs 244 211 209 Deferred tax assets 1,097 806 981 Total non-current assets 65,374 52,906 52,731 Current assets Inventories 6,935 5,127 4,637 Accounts receivable 8,208 5,856 5,769 Other receivables 3,954 2,504 2,789 Cash and cash equivalents 1,005 1,041 1,039 Total current assets 20,101 14,528 14,234 Total assets 85,475 67,434 66,964 EQUITY AND LIABILITIES Equity Share capital 196 196 196 Other contributed capital 18,204 17,696 17,410 Other reserves -153 -2,577 -2,174 Retained earnings 22,403 21,924 21,928 Profit for the period 4,766 478 -1,384 Equity attributable to the owners of the parent company 45,417 37,717 35,977 Non-controlling interests 7 6 6 Total equity 45,424 37,723 35,983 Non-current liabilities Borrowings 7,220 5,180 8,776 Deferred tax liabilities 7,176 4,359 4,502 Lease liabilities 236 259 265 Other liabilities 5,150 3,844 3,458 Total non-current liabilities 19,782 13,642 17,001 Current liabilities Borrowings 8,566 5,942 4,439 Accounts payable 1,871 1,235 841 Lease liabilities 132 114 109 Other liabilities 9,701 8,777 8,591 Total current liabilities 20,269 16,069 13,981 Total equity and liabilities 85,475 67,434 66,964 1. Including goodwill of SEK 12,360 M (9,024 on 31 December 2025). 2. Including right-of-use assets of SEK 349 M (367 on 31 December 2025). Sobi Q3 2026 report 14
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Consolidated statement of changes in equity SEK M Equity related to owners of the parent company Non-controlling interests Total equity Opening equity, 1 January 2026 37,717 6 37,723 Share-based compensation to employees 191 — 191 Stock options exercised by employees 292 — 292 Tax adjustments for share programmes1 24 — 24 Equity swap for hedging of share programmes2 1 — 1 Issue of shares 1 — 1 Transfer of cash flow hedge related to business combinations 321 — 321 Total comprehensive income for the period3 6,869 1 6,870 Closing equity, 30 September 2026 45,417 7 45,424 Opening equity, 1 January 2025 40,286 9 40,295 Share-based compensation to employees 182 — 182 Stock options exercised by employees 46 — 46 Tax adjustments for share programmes1 0 — 0 Equity swap for hedging of share programmes2 1 — 1 Issue of shares 1 — 1 Total comprehensive income for the period3 -4,539 -3 -4,542 Closing equity, 30 September 2025 35,977 6 35,983 Opening equity, 1 January 2025 40,286 9 40,295 Share-based compensation to employees 250 — 250 Stock options exercised by employees 245 — 245 Tax adjustments for share programmes1 15 — 15 Equity swap for hedging of share programmes2 1 — 1 Issue of shares 1 — 1 Transfer of cash flow hedge related to the cost of investment to associated companies -11 — -11 Total comprehensive income for the period3 -3,070 -3 -3,073 Closing equity, 31 December 2025 37,717 6 37,723 1. The change relates to the difference between the market value and recognised IFRS 2 cost. 2. Refers to equity swap agreement entered into by Sobi to hedge its exposure under the share programmes. 3. Whereof changes in cash flow hedges (net of tax) amounted to SEK -170 M (-63 on 31 December 2025) and investment hedges (net of tax) amounted to SEK -250 M (365 on 31 December 2025). Sobi Q3 2026 report 15
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Consolidated cash flow statement Q3 Q3 Jan-Sep Jan-Sep FY SEK M 2026 2025 2026 2025 2025 Cash flow from operating activities Profit before tax 3,038 -4,027 6,132 -2,137 34 Non-cash items Depreciation/amortisation and impairment 810 7,515 2,849 9,342 10,096 Other, non-cash items1 214 223 530 742 1,041 Cash items Interest received 4 4 11 16 21 Interest paid -174 -120 -500 -420 -726 Payment to pension funds -11 -18 -36 -33 -67 Income tax paid -371 -164 -1,489 -1,186 -1,327 Cash flow from operating activities before change in working capital 3,511 3,413 7,496 6,322 9,072 Changes in working capital -1,640 -1,573 -2,588 -739 -508 Cash flow from operating activities 1,871 1,840 4,908 5,584 8,565 Acquisition of business, net of cash 31 — -8,443 — — Investment in intangible assets -18 -2,676 -599 -3,082 -3,113 Prepaid investment in intangible assets -732 — -732 — — Investment in tangible assets -5 -8 -18 -35 -40 Investments in associated companies — — — — -1,004 Investment in productions -31 -6 -75 -64 -99 Investment in financial assets -7 -9 -18 -39 -41 Other investing activities — — — 2 2 Cash flow from investing activities -761 -2,699 -9,885 -3,217 -4,294 Borrowings/repayments of borrowings -1,483 802 4,353 -2,876 -4,933 Hedging arrangement for financing 156 81 344 565 555 Repayment of leasing -34 -36 -101 -160 -190 Proceeds from exercise of share options 166 10 292 46 245 Cash flow from financing activities -1,195 857 4,888 -2,424 -4,323 Change in cash and cash equivalents -86 -2 -89 -58 -52 Cash and cash equivalents at the beginning of the period 1,082 1,058 1,041 1,140 1,140 Translation difference in cash flow and cash and cash equivalents 8 -17 52 -42 -46 Cash and cash equivalents at the end of the period 1,005 1,039 1,005 1,039 1,041 1Specification other, non-cash items Interest expenses 213 123 561 417 748 IFRS 2 costs on share-based compensation to employees 43 58 191 182 250 FX -27 91 -91 36 -22 Other -15 -48 -131 107 66 Total 214 223 530 742 1,041 Sobi Q3 2026 report 16
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Key ratios and other information Q3 Q3 Jan-Sep Jan-Sep FY SEK M 2026 2025 2026 2025 2025 Profit measures Gross profit 7,123 6,162 18,573 15,788 21,986 Adjusted gross profit1,2 7,195 6,214 18,708 15,964 22,270 EBITDA1 4,036 3,656 9,569 7,851 10,963 Adjusted EBITDA1,2 4,133 3,709 9,708 8,232 11,487 EBITA1 3,990 3,620 9,445 7,743 10,817 Adjusted EBITA1,2 4,087 3,672 9,584 8,124 11,341 EBIT 3,226 -3,858 6,720 -1,491 867 Adjusted EBIT1,2 3,323 2,806 7,311 5,502 8,003 Profit for the period 2,349 -2,895 4,766 -1,386 476 Adjusted profit for the period1,2 2,419 2,105 5,227 3,866 5,835 Per share data (SEK) EPS before dilution 6.76 -8.40 13.75 -4.02 1.39 Adjusted EPS before dilution1,2 6.96 6.11 15.08 11.25 16.95 EPS after dilution 6.69 -8.32 13.60 -3.99 1.37 Adjusted EPS after dilution1,2 6.89 6.05 14.92 11.14 16.79 Equity per share1 127.0 100.7 127.0 100.7 105.5 Equity per share after dilution1 125.7 99.8 125.7 99.8 104.6 Other information Gross margin1 78% 79% 77% 77% 78% Adjusted gross margin1,2 79% 80% 77% 78% 79% EBITA margin1 44% 47% 39% 38% 38% Adjusted EBITA margin1,2 45% 47% 40% 40% 40% Equity ratio1 53% 54% 53% 54% 56% Net debt1 14,781 12,177 14,781 12,177 10,081 Number of ordinary shares 357,636,514 357,412,837 357,636,514 357,412,837 357,412,837 Number of ordinary shares (in treasury)3 9,631,955 12,756,537 9,631,955 12,756,537 11,752,245 Number of ordinary shares (ex shares in treasury) 348,004,559 344,656,300 348,004,559 344,656,300 345,660,592 Number of ordinary shares after dilution 361,377,411 360,635,341 361,377,411 360,635,341 360,722,003 Average number of ordinary shares (ex shares in treasury) 347,798,875 344,648,852 346,590,060 343,947,311 344,299,173 Average number of ordinary shares after dilution (ex shares in treasury) 351,539,772 347,871,356 350,330,957 347,169,815 347,608,339 1. See section APM for further information. 2. IAC, see page 3 for further information. 3. The decrease in the number of shares in treasury results from stock options exercised by employees and from allotment of shares for the programmes expired. Sobi Q3 2026 report 17
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Financial statements – condensed Parent Company statement of profit and loss Q3 Q3 Jan-Sep Jan-Sep FY SEK M 2026 2025 2026 2025 2025 Revenue 5,433 4,521 16,463 12,017 16,145 Cost of goods sold -1,992 -1,629 -5,744 -4,200 -5,709 Gross profit 3,440 2,892 10,719 7,817 10,436 Selling and administrative expenses1,2 -1,831 -1,405 -5,635 -4,294 -6,072 Research and development expenses -569 -421 -1,473 -1,377 -1,838 Other operating income/expenses 115 61 279 182 248 Operating profit 1,155 1,127 3,889 2,328 2,774 Result from participation in Group companies3 — -4,981 — -4,981 -4,981 Net financial items -204 -82 -850 -11 -133 Profit/loss after financial items 951 -3,936 3,039 -2,663 -2,340 Appropriations — — — — 1,546 Profit/loss before tax 951 -3,936 3,039 -2,663 -793 Income tax -326 -412 -712 -664 -880 Profit/loss for the period 625 -4,348 2,327 -3,327 -1,673 1. Amortisation and impairment of intangible assets included in Selling and administrative expenses. -218 -205 -1,110 -526 -716 2. Year-to-date includes impairment of Zynlonta by SEK 452 M, for more information see Note 6. 3. Full-year 2025 Includes a write-down of the value of the shares in Sobi US Holding Corp. by SEK 4,981 M followed by the impairment of Vonjo, recognised in Q3 2025. Parent Company statement of comprehensive income Q3 Q3 Jan-Sep Jan-Sep FY SEK M 2026 2025 2026 2025 2025 Profit/loss for the period 625 -4,348 2,327 -3,327 -1,673 Other comprehensive income Items that will not be reclassified into profit or loss Remeasurement of equity instruments (net of tax) -5 0 1 -18 -24 Items that may be reclassified into profit or loss Cash flow hedges (net of tax) — 3 — 3 — Other comprehensive income -5 2 1 -15 -24 Total comprehensive income for the period 620 -4,346 2,328 -3,343 -1,697 Sobi Q3 2026 report 18
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Parent Company balance sheet Sep Dec Sep SEK M 2026 2025 2025 ASSETS Non-current assets Intangible assets 13,286 14,445 14,606 Tangible assets 559 584 585 Financial assets 37,974 29,616 29,590 Prepaid production costs 847 805 795 Total non-current assets 52,666 45,451 45,576 Current assets Inventories 5,003 3,876 3,448 Accounts receivable 2,503 1,772 1,526 Receivables Group companies 6,003 8,475 7,874 Other receivables 1,161 1,097 943 Cash and cash equivalents 399 694 524 Total current assets 15,068 15,915 14,316 Total assets 67,734 61,366 59,892 EQUITY AND LIABILITIES Equity Restricted equity Share capital 196 196 196 Statutory reserve 800 800 800 Total restricted equity 996 996 996 Non-restricted equity Retained earnings 35,690 36,853 36,579 Profit/loss for the period 2,327 -1,673 -3,327 Total non-restricted equity 38,017 35,180 33,252 Total equity 39,013 36,176 34,248 Non-current liabilities Borrowings 7,220 5,180 8,776 Deferred tax liabilities 924 1,053 1,057 Other liabilities 3,273 2,973 3,034 Total non-current liabilities 11,417 9,206 12,867 Current liabilities Borrowings 8,566 5,942 4,439 Accounts payable 1,528 861 649 Liabilities Group companies 4,061 5,087 3,774 Other liabilities 3,148 4,094 3,913 Total current liabilities 17,303 15,984 12,776 Total equity and liabilities 67,734 61,366 59,892 Sobi Q3 2026 report 19
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Parent Company statement of changes in equity Jan-Sep FY Jan-Sep SEK M 2026 2025 2025 Opening balance 36,176 37,361 37,361 Share-based compensation to employees 191 250 182 Stock options exercised by employees 292 245 46 Tax adjustments for share programmes1 24 15 0 Equity swap for hedging of share programmes2 1 1 1 Issue of shares 1 1 1 Total comprehensive income for the period3 2,328 -1,697 -3,343 Closing balance 39,013 36,176 34,248 1. The change relates to the difference between the market value and recognised IFRS 2 cost. 2. Refers to equity swap agreement entered into by Sobi to hedge its exposure under the share programmes. 3. Whereof changes in cash flow hedges (net of tax) amounted to SEK - M (3 on 31 December 2025). Sobi Q3 2026 report 20
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Notes Note 1 | Accounting policies and measurement bases and other information Accounting policies This report has been prepared in accordance with IAS 34 and the Swedish Annual Accounts Act. The Parent Company applies the Annual Accounts Act and the Swedish Corporate Reporting Board’s Recommendation RFR 2 Accounting for Legal Entities. The accounting policies are consistent with those described in the Annual and sustainability report 2025. IASB has published amendments to standards that were effective as of 1 January 2026 or later. These have not had any material impact on the consolidated financial statements. Amounts are stated in SEK M (million kronor), rounded to the nearest SEK M and values in parentheses refer to the same period a year ago unless otherwise stated. IFRS 18 Presentation and Disclosure in Financial Statements comes into force for financial years from 1 January 2027 (as adopted by the EU) and replaces IAS 1 Presentation of Financial Statements. Sobi is currently analysing the effects of IFRS 18. Certain items that were previously reported as financial income and expenses will mainly be reclassified to the operating and investing categories. Furthermore, the preliminary assessment indicates that the operating profit for the first nine months of the year would amount to SEK 6,560 M i n s t e a d o f S E K 6,720 M i f the Group’s i n c o m e s t a t e m e n t w e r e p r e s e n t e d i n a c c o r d a n c e w i t h I F R S 1 8 . I F R S 1 8 w i l l n o t a f f e c t Sobi’s net profit. More detailed information about the Group’s accounting policies and measurement bases can be found in the Annual and sustainability report 2025, available at sobi.com. In addition to what is disclosed in Note 4, there were no significant related-party transactions during the period. Risks and uncertainties A comprehensive risk management process runs annually to identify and evaluate existing and emerging risks affecting Sobi’s ability to achieve its targets and provide the Executive committee and the Board with information to support their governance of Sobi. Identified risks connect to: • Pipeline and commercialisation, including but not limited to key medicines, approval and marketing authorisation, pricing • Business execution, including but not limited to supply chain, third party, information security, patient and product safety, workforce • Finance, including but not limited to financial, reporting, taxation • Legal, regulatory and compliance, including but not limited to patent, litigation. The current global situation with geopolitical uncertainties, war and potential international tariffs is closely monitored and any potential impact is continuously assessed, including actions to limit any impact on Sobi. The imposed tariffs in the US did not have a material impact on costs in the year-to-date period. The additional tariffs imposed at the end of the quarter are not expected to have a material impact on costs in the last quarter of 2026. More details about risk exposure and risk management are included in the Annual and sustainability report 2025. Sobi Q3 2026 report 21
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Note 2 | Segment reporting Revenue and EBITA by segment Q3 2026 Haematology Immunology Specialty Care Group – other7 Total Total revenue 6,171 2,525 428 — 9,124 EBITA1 2,944 1,152 5 -111 3,990 Adjusted EBITA1,2,3 2,944 1,232 5 -93 4,087 Amortisation and impairment -442 -288 -17 -17 -764 Results from shares in associated companies — — — 17 17 Net financial items — — — -204 -204 Profit before tax 2,502 865 -12 -316 3,038 Q3 2025 Haematology Immunology Specialty Care Group – other7 Total Total revenue 4,771 2,658 347 — 7,776 EBITA1 2,010 1,660 124 -175 3,620 Adjusted EBITA1,2 2,047 1,675 124 -175 3,672 Amortisation and impairment -7,174 -285 -5 -14 -7,478 Net financial items — — — -168 -168 Profit before tax -5,164 1,375 119 -357 -4,027 Jan-Sep 2026 Haematology Immunology Specialty Care Group – other7 Total Total revenue 17,083 5,880 1,187 — 24,150 EBITA1 7,845 1,867 155 -423 9,445 Adjusted EBITA1,2,3 7,889 2,046 155 -506 9,584 Amortisation and impairment4 -1,762 -863 -48 -52 -2,725 Results from shares in associated companies — — — -7 -7 Net financial items — — — -581 -581 Profit before tax 6,083 1,005 107 -1,063 6,132 Jan-Sep 2025 Haematology Immunology Specialty Care Group – other7 Total Total revenue 13,974 5,472 971 — 20,417 EBITA1 5,354 2,519 387 -516 7,743 Adjusted EBITA1,2,5 5,682 2,569 390 -516 8,124 Amortisation and impairment -8,258 -854 -77 -45 -9,234 Net financial items — — — -646 -646 Profit before tax -2,904 1,665 310 -1,207 -2,137 FY 2025 Haematology Immunology Specialty Care Group – other7 Total Total revenue 19,116 7,809 1,312 — 28,238 EBITA1 7,295 3,814 436 -728 10,817 Adjusted EBITA1,2,6 7,717 3,914 439 -728 11,341 Amortisation and impairment5 -8,667 -1,138 -85 -60 -9,950 Results from shares in associated companies — — — -3 -3 Net financial items — — — -831 -831 Profit before tax -1,372 2,676 351 -1,621 34 There are no intersegment transactions. 1. See section APM for further information. 2. Items affecting comparability, see page 3 for further information. 3. Adjusted EBITA Q3 and Jan-Sep 2026; Haematology includes the inventory fair value adjustment originating from the CTI PPA of SEK 43 M in the year- to-date period. Immunology includes integration costs of SEK 7 M in the quarter and SEK 40 M in the year-to-date period, as well as transaction costs of SEK 47 M in the year-to-date period, related to the acquisition of Arthrosi. Furthermore, it includes a write-down of pre-launch inventory intended for commercial use related to NASP and pozdeutinurad, pending FDA approval of SEK 73 M in the quarter and SEK 93 M in the year-to-date period. Other includes the fair value movements on contingent considerations of SEK 18 M in the quarter and SEK -83 M in the year-to-date period linked to the acquisition of Arthrosi. 4. Includes impairment of Zynlonta by SEK 452 M, within Haematology. 5. FY 2025 includes impairment of Vonjo by SEK 6,612 M, within Haematology, recognised in Q3 2025. 6. Adjusted EBITA FY 2025; Haematology includes the inventory fair value adjustment originating from the PPA of SEK 262 M. It also includes restructuring costs of SEK 171 M followed by the organisational changes primarily in the US operations and the R&D functions made to enhance efficiencies and ensure prioritisation in line with Sobi's strategy. This was partially offset by release of restructuring costs of SEK -11 M linked to the discontinuation of contract manufacturing for Pfizer, due to final severance payments. Immunology includes transaction costs of SEK 34 M related to the agreement to acquire Arthrosi and a write-down of pre-launch inventory intended for commercial use related to NASP, pending FDA approval of SEK 31 M. Immunology and Specialty Care also included restructuring costs of SEK 37 M related to the organisational changes. 7. The category Group – other mainly includes costs for central functions such as finance, legal, communication, human resources and other items that cannot be allocated by segment. Sobi Q3 2026 report 22
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Revenue - Gross to net Q3 Q3 Jan-Sep Jan-Sep FY 2026 2025 2026 2025 2025 Product sales, gross 11,077 8,674 30,680 25,108 34,043 Discounts -3,285 -2,583 -9,109 -7,600 -10,097 Product sales, net 7,792 6,092 21,571 17,508 23,946 Royalty 1,333 1,684 2,579 2,910 4,293 Service fees — — — -1 -1 Total revenue1 9,124 7,776 24,150 20,417 28,238 1. For revenue by product see pages 6-7. Revenue by segment and geographic area Q3 2026 Haematology Immunology Specialty Care Total Europe 2,934 252 211 3,398 North America 1,561 1,374 69 3,004 International 1,074 167 148 1,389 Other1 601 732 — 1,333 Total 6,171 2,525 428 9,124 Q3 2025 Haematology Immunology Specialty Care Total Europe 2,345 207 164 2,715 North America 1,298 1,121 72 2,491 International 611 164 111 886 Other1 518 1,166 — 1,684 Total 4,771 2,658 347 7,776 Jan-Sep 2026 Haematology Immunology Specialty Care Total Europe 8,212 701 559 9,471 North America 4,265 3,640 213 8,118 International 2,945 621 415 3,982 Other1 1,661 918 — 2,579 Total 17,083 5,880 1,187 24,150 Jan-Sep 2025 Haematology Immunology Specialty Care Total Europe 6,746 646 468 7,860 North America 3,576 2,992 209 6,776 International 2,104 472 295 2,872 Other1 1,548 1,362 — 2,910 Total 13,974 5,472 971 20,417 FY 2025 Haematology Immunology Specialty Care Total Europe 9,298 883 634 10,815 North America 4,929 4,117 267 9,313 International 2,806 599 412 3,817 Other1 2,082 2,211 — 4,293 Total 19,116 7,809 1,312 28,238 1. Refers to royalty and the majority of royalties received are attributable to North America. Sobi Q3 2026 report 23
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Note 3 | Fair value of financial instruments The table below shows financial instruments measured at fair value, based on their classification in the fair value hierarchy. The breakdown of how fair value is determined is made based on the following three levels. Level 1: Consists of equity instruments and refers to Sobi’s holding of quoted shares in Cartesian Therapeutics, Inc. Fair value measurement is based on quoted prices in active markets. Level 2: Consists of derivatives held for trading and refers to currency derivatives forward contracts. Fair value measurement is based on published forward prices. Level 3: Consists of shares in investment fund, CVR:s, contingent considerations from business combinations and endowment policies. Shares in investment fund refer to Sobi’s partnership with 4BIO Capital and OrbiMed. In the quarter Sobi entered a partnership with OrbiMed and made an initial investment in their fund, OrbiMed Asia Partners VI. The fund strengthens Sobi’s access to China’s biotech ecosystem. Sobi's commitment to the fund amounts to USD 15 M, of which approximately USD 14 M remained at the end of the quarter. Sobi’s commitment to 4BIO Ventures III amounts to USD 10 M of which approximately USD 5 M remained at the end of the quarter. The reported value of Sobi’s holding in the funds is based on the fair value provided by the respective fund administrator. Due to the merger of Selecta Biosciences with Cartesian Therapeutics Sobi received transferable CVRs which entitle Sobi to receive future royalty and milestone payments related to NASP and all other legacy Selecta assets. The fair value measurement of the CVRs is based on a discounted cash flow analysis (DCF-analysis) which uses a number of estimates regarding amount and timing of future cash flows. The key assumptions in the cash flow model are probability of success for regulatory approval of NASP in the US and estimated sales. Liabilities related to contingent considerations from business combinations refer to the acquisition of Arthrosi and amounted to SEK 669 M at the end of the quarter. The fair value measurement is based on a DCF-analysis, consistent with the approach described above. The discount rate was 8.4 per cent after tax (10.6 per cent before tax). The key assumptions in the cash flow model are the probability of technical success (PTS) of the two Phase 3 studies, REDUCE 1 and REDUCE 2, and estimated sales. A reasonable change in the assumptions, for example following a clinical readout, regulatory submission, marketing approval, and/or a change in the estimated sales, may result in a material change in the fair value of the liability. Upon FDA approval of pozdeutinurad, Sobi will pay USD 50 M as part of the consideration for Arthrosi. The liability is recognised with a probability of success of 92 per cent at the end of the quarter. Changes in fair value are included in other operating income/expense in the income statement. See Note 5 for further information. Endowment policies are reported gross with the corresponding liability, which is reported as other liabilities. No transfers have been made between the levels during the period. Liabilities linked to contingent considerations attributable to intangible assets acquired and fixed rate bond loans were SEK 4,819 M (4,866 on 31 December 2025). These are measured at amortised cost using the effective interest method. Fair value for these liabilities was SEK 4,041 M (4,354 on 31 December 2025). All other financial instruments on the balance sheet had reported values that are in all material aspects equivalent to fair value on 30 September 2026. Financial assets and liabilities measured at fair value Sep 2026 Level 1 Level 2 Level 3 Total Financial assets and liabilities measured at fair value through profit or loss Currency derivatives held for trading — -10 — -10 Shares in investment fund — — 54 54 Contingent value rights (CVR) — — 48 48 Endowment policies — — 43 43 Contingent considerations — — -669 -669 Financial assets measured at fair value through other comprehensive income Equity instruments 13 — — 13 Total 13 -10 -524 -521 Sep 2025 Level 1 Level 2 Level 3 Total Financial assets and liabilities measured at fair value through profit or loss Currency derivatives held for trading — 12 — 12 Shares in investment fund — — 29 29 Contingent value rights (CVR) — — 53 53 Endowment policies — — 43 43 Financial assets measured at fair value through other comprehensive income Equity instruments 17 — — 17 Total 17 12 125 154 Sobi Q3 2026 report 24
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Dec 2025 Level 1 Level 2 Level 3 Total Financial assets and liabilities measured at fair value through profit or loss Currency derivatives held for trading — -14 — -14 Shares in investment fund — — 30 30 Contingent value rights (CVR) — — 53 53 Endowment policies — — 39 39 Financial assets measured at fair value through other comprehensive income Equity instruments 12 — — 12 Total 12 -14 122 119 The tables below show the periods changes for financial instruments in level 3. Fair value of financial assets and liabilities, Level 3 Sep 2026 Shares in investment fund Contingent value rights (CVR) Endowment policies Contingent considerations Total Opening balance 30 53 39 — 122 Remeasurement recognised in statement of profit or loss 2 -9 4 83 80 Investments 18 — — — 18 Business acquisition — — — -678 -678 Translation differences 4 4 — -73 -65 Closing balance 54 48 43 -669 -524 Sep 2025 Shares in investment fund Contingent value rights (CVR) Endowment policies Contingent considerations Total Opening balance — 46 43 — 90 Remeasurement recognised in statement of profit or loss -4 15 -1 — 10 Investments 39 — — — 39 Translation differences -5 -9 — — -14 Closing balance 29 53 43 — 125 Dec 2025 Shares in investment fund Contingent value rights (CVR) Endowment policies Contingent considerations Total Opening balance — 46 43 — 90 Remeasurement recognised in statement of profit or loss -5 17 -5 — 7 Investments 41 — — — 41 Translation differences -6 -10 — — -16 Closing balance 30 53 39 — 122 Note 4 | Related-party transactions Transactions with associates, as well as the related receivables and liabilities, pertaining to Pharma Investments S.A. and Handok Inc., are disclosed below. Q3 Q3 Jan-Sep Jan-Sep FY SEK M 2026 2025 2026 2025 2025 Sales to associates 2 2 33 8 18 Accounts receivable 58 2 58 2 29 Borrowings 28 — 28 — 26 Sobi Q3 2026 report 25
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Note 5 | Business combinations On 9 February 2026, Sobi completed the acquisition of Arthrosi, whereby Sobi acquired all outstanding shares of Arthrosi’s common stock and common equivalents. Arthrosi was a private biotechnology company. The consideration was SEK 9,424 M, of which SEK 8,746 M was paid in cash. The consideration also includes contingent considerations that may amount to up to USD 550 M. At the acquisition date, these were measured at SEK 678 M. Through the acquisition, Sobi gained access to pozdeutinurad (AR882), which is reported within the Immunology segment. P o z d e u t i n u r a d i s a n e x t ‑ g e n e r a t i o n U R A T 1 i n h i b i t o r c u r r e n t l y b e i n g e v a l u a t e d i n t w o f u l l y r e c r u i t e d g l o b a l P h a s e 3 c l i n i c a l s t u d i e s , REDUCE 1 and REDUCE 2, for the potential management of progressive and tophaceous gout. Positive topline results were presented for REDUCE 2 in the second quarter and REDUCE 1 will readout during Q1 2027. The acquisition of Arthrosi strengthens Sobi’s pipeline for the potential treatment of gout. Total transaction costs amounted to SEK 81 M, of which SEK 47 M has been expensed during the year and is included in administrative expenses in the income statement. Transaction costs are recognised as IAC. In the period 9 February-30 September, Arthrosi contributed to a net loss of SEK 529 M. If the acquisition had taken place on 1 January 2026, Arthrosi would have contributed to a net loss of SEK 613 M. The loss has been adjusted for transaction costs, integration costs and other costs following the acquisition. Financing costs have not been considered. For the financial year 2025, unaudited, the company reported a net loss of USD 97 M, of which operating expenses amounted to USD 115 M and included R&D expenses of USD 104 M. The result for the year included income of USD 15 M related to the divestment of a joint venture company. Goodwill is allocated to Immunology and represents the potential for future growth on the US market and further opportunities in Immunology worldwide. Furthermore, it represents the acquired workforce, the expected commercial synergies, and other benefits to be derived from the integration of Arthrosi into Sobi. The goodwill is not deductible for tax purposes. The purchase price allocation (PPA) is preliminary as the deferred tax on acquired net operating losses (NOLs) are being investigated. The current PPA led to the recognition of SEK 2,465 M of goodwill, determined as follows: SEK M Fair value at acquisition date Updated measurement Updated fair value at acquisition date Cash consideration 8,777 -31 8,746 Contingent consideration1 678 678 Total consideration 9,455 -31 9,424 Foreign exchange hedge 321 321 Total net consideration 9,776 -31 9,745 Assets Intangible assets (Product and marketing rights)2 9,421 9,421 Cash and cash equivalents 624 624 Other assets3 472 -2 470 Total assets 10,517 -2 10,515 Liabilities Other liabilities and provisions -598 -1 -599 Deferred taxes4 -2,636 -2,636 Total liabilities -3,234 -1 -3,235 Total identifiable net assets at fair value 7,283 -3 7,280 Goodwill 2,493 -28 2,465 Purchase consideration transferred 9,776 -31 9,745 Cash flow Net cash acquired with the subsidiary 624 624 Cash paid including hedge impact 9,098 -31 9,067 Net cash flow on acquisition 8,474 -31 8,443 1. Contingent considerations are linked to clinical, regulatory and commercial milestones, which may amount to USD 550 M. 2. The fair value attributable to intangible assets was SEK 9,421 M and represents the intellectual property rights of pozdeutinurad (AR882). The fair value was determined using a DCF-analysis which uses a number of estimates regarding amount and timing of future cash flows. The key assumptions in the cash flow model are the probability of technical success (PTS) of the two Phase 3 studies, REDUCE 1 and REDUCE 2, and estimated sales in progressive and tophaceous gout. 3. Other assets includes deferred tax of SEK 269 M, mainly consisting of NOLs, which are preliminary. 4. Deferred tax liabilities relate to the intangible asset pozdeutinurad. Sobi Q3 2026 report 26
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Note 6 | Intangible assets - impairment Zynlonta In the second quarter, Sobi recognised an impairment of SEK 452 M relating to the product and marketing right for Zynlonta, following the results of the LOTIS-5 Phase 3 confirmatory trial in the second-line treatment of DLBCL. The impairment is reported as an item affecting comparability within Selling and administrative expenses in the Haematology segment and has not affected cash flow. It did not have a significant effect on the headroom in the Haematology segment’s goodwill. At the end of the quarter, the carrying amount of Zynlonta was SEK 474 M, corresponding to its value in use adjusted for working capital. The asset is expected to be fully amortised by 2037. When calculating the recoverable amount, a discount rate of 8.4 per cent after tax has been used (10.6 per cent before tax). The most important assumption for the estimated recoverable amount for Zynlonta is the continued progress in its current approved indication for the treatment of third-line relapsed or refractory DLBCL. NASP Following the CRL from the FDA, Sobi performed an impairment test in the second quarter of the intangible asset NASP, which concluded that no impairment was required. Sobi Q3 2026 report 27
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Alternative performance measures – financial measures not defined according to IFRS Sobi uses certain financial measures, Alternative performance measures (APM) in this report that are not defined according to IFRS. Sobi considers these measures to provide valuable supplementary information for stakeholders and company management, as they enable an assessment and benchmarking of Sobi’s reporting. Since not all companies calculate financial measures in the same way, these are not always comparable to measures used by other companies. The alternative performance measures should not, therefore, be regarded as substitutes for measures defined according to IFRS. Sobi updated its definition of items affecting comparability (IAC) during the year to better reflect the performance of its underlying operations and to align with peer practice. The update includes clarified guidance on acquisition-related costs. See below metrics not defined according to IFRS and definitions used, referred to and presented in this report. Numbers are presented in SEK M unless otherwise stated. Change at CER Definition: Change at CER (constant exchange rates) on total revenue excludes the effect of exchange rates by recalculating total revenue for the relevant period using the exchange rates that were used for the comparable period. Reason for use: The measure is important in order to understand the underlying performance of the operations and increases the comparability between periods. Q3 2026 Total revenue FX impact Total revenue, adjusted for FX impact Total revenue, comparable period Change at CER Haematology Altuvoct 1,729 0 1,729 769 125% Elocta 615 2 617 812 -24% Alprolix 639 0 640 601 6% Royalty 601 -11 590 518 14% Whereof Eloctate/Alprolix 250 -5 246 258 -2 % Whereof Altuviiio 351 -7 344 260 16 % Doptelet 1,829 -17 1,812 1,408 29% Aspaveli/Empaveli 417 1 418 317 32% Vonjo 297 -5 292 307 -5% Zynlonta 43 0 43 40 6% Total 6,171 -30 6,141 4,771 29% Immunology Kineret 959 -4 956 769 24% Gamifant 834 -12 822 733 12% Synagis — — — -11 n/a Beyfortus royalty 732 -23 708 1,166 -39% Total 2,525 -39 2,486 2,658 -6% Specialty Care 428 -1 427 347 23% Total 9,124 -70 9,054 7,776 16% Sobi Q3 2026 report 28
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Q3 2025 Total revenue FX impact Total revenue, adjusted for FX impact Total revenue, comparable period Change at CER Haematology Altuvoct 769 23 792 129 >200 % Elocta 812 33 845 1,119 -24% Alprolix 601 27 627 575 9% Royalty 518 47 565 459 23% Whereof Eloctate/Alprolix 258 24 281 307 -6% Whereof Altuviiio 260 24 284 152 29% Doptelet 1,408 111 1,519 1,039 46% Aspaveli/Empaveli 317 15 333 270 23% Vonjo 307 29 336 379 -11% Zynlonta 40 1 42 29 43% Total 4,771 287 5,058 4,000 26% Immunology Kineret 769 69 838 699 20% Gamifant 733 68 801 405 98% Synagis -11 -1 -12 0 n/a Beyfortus royalty 1,166 106 1,272 1,478 -14% Total 2,658 241 2,899 2,583 12% Specialty Care 347 17 364 311 17% Total 7,776 545 8,321 6,894 21% Jan-Sep 2026 Total revenue FX impact Total revenue, adjusted for FX impact Total revenue, comparable period Change at CER Haematology Altuvoct 4,523 69 4,591 1,851 148 % Elocta 2,104 90 2,194 3,075 -29% Alprolix 1,746 43 1,788 1,748 2% Royalty 1,661 95 1,756 1,548 13% Whereof Eloctate/Alprolix 736 44 780 820 -3% Whereof Altuviiio 925 51 976 727 16% Doptelet 4,891 213 5,104 3,757 36% Aspaveli/Empaveli 1,142 39 1,181 953 24% Vonjo 891 50 941 915 3% Zynlonta 125 5 131 128 2% Total 17,083 603 17,686 13,974 27% Immunology Kineret 2,600 132 2,732 2,253 21% Gamifant 2,362 129 2,491 1,947 28% Synagis — — — -90 n/a Beyfortus royalty 918 1 918 1,362 -33% Total 5,880 262 6,141 5,472 12% Specialty Care 1,187 31 1,218 971 25% Total 24,150 895 25,045 20,417 23% Sobi Q3 2026 report 29
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Jan-Sep 2025 Total revenue FX impact Total revenue, adjusted for FX impact Total revenue, comparable period Change at CER Haematology Altuvoct 1,851 54 1,905 134 >200% Elocta 3,075 103 3,178 3,753 -15% Alprolix 1,748 53 1,801 1,736 4% Royalty 1,548 98 1,646 1,347 22% Whereof Eloctate/Alprolix 820 49 870 947 -6% Whereof Altuviiio 727 49 777 400 28% Doptelet 3,757 200 3,957 2,723 45% Aspaveli/Empaveli 953 34 987 760 30% Vonjo 915 54 969 1,046 -7% Zynlonta 128 4 132 68 94% Manufacturing — — — 375 -100% Total 13,974 601 14,574 11,942 22% Immunology Kineret 2,253 135 2,388 2,077 15% Gamifant 1,947 121 2,068 1,365 52% Synagis -90 -12 -102 523 -120% Beyfortus royalty 1,362 102 1,464 1,803 -19 % Total 5,472 346 5,818 5,768 1% Specialty Care 971 36 1,007 882 14% Total 20,417 983 21,399 18,592 15% FY 2025 Total revenue FX impact Total revenue, adjusted for FX impact Total revenue, comparable period Change at CER Haematology Altuvoct 2,873 108 2,981 436 >200% Elocta 3,959 145 4,104 4,891 -16% Alprolix 2,306 88 2,394 2,372 1% Royalty 2,082 179 2,262 1,889 20% Whereof Eloctate/Alprolix 1,073 87 1,161 1,279 -6% Whereof Altuviiio 1,009 92 1,101 610 26% Doptelet 5,265 383 5,648 3,870 46% Aspaveli/Empaveli 1,218 51 1,269 1,030 23% Vonjo 1,242 102 1,344 1,462 -8% Zynlonta 172 7 179 103 73% Manufacturing — — — 375 -100% Total 19,116 1,064 20,180 16,429 23% Immunology Kineret 2,994 218 3,212 2,854 13% Gamifant 2,710 227 2,937 1,876 57% Synagis -105 -15 -120 591 n/a Beyfortus royalty 2,211 200 2,411 3,010 -20% Total 7,809 631 8,440 8,332 1% Specialty Care 1,312 59 1,371 1,267 8% Total 28,238 1,753 29,991 26,027 15% Sobi Q3 2026 report 30
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Strategic portfolio Definition: Includes Sobi's medicines Altuvoct, Aspaveli/Empaveli, Doptelet, Gamifant, Tryngolza, Vonjo and Zynlonta, and royalty on Sanofi's sales on Altuviiio and Beyfortus. Reason for use: Focused list of medicines in the launch phase and key royalty income which contribute significantly to growth and the Sobi strategy to identify, unlock and level up breakthrough therapies for people with rare diseases. The development of the strategic portfolio is an important measure in order to understand the underlying performance and potential of the portfolio separate from matured medicines with lower growth. Q3 Q3 Change Jan-Sep Jan-Sep Change FY SEK M 2026 2025 Change at CER 2026 2025 Change at CER 2025 Altuvoct 1,729 769 125% 125% 4,523 1,851 144% 148% 2,873 Aspaveli/Empaveli 417 317 31% 32% 1,142 953 20% 24% 1,218 Doptelet 1,829 1,408 30% 29% 4,891 3,757 30% 36% 5,265 Gamifant 834 733 14% 12% 2,362 1,947 21% 28% 2,710 Tryngolza 66 — n/a n/a 140 — n/a n/a 4 Vonjo 297 307 -3% -5% 891 915 -3% 3% 1,242 Zynlonta 43 40 6% 6% 125 128 -2% 2% 172 Altuviiio royalty 351 260 35% 32% 925 727 27% 34% 1,009 Beyfortus royalty 732 1,166 -37% -39% 918 1,362 -33% -33% 2,211 Strategic portfolio 6,298 5,001 26% 25% 15,917 11,640 37% 42% 16,702 Gross margin Definition: Gross profit as a percentage of total revenue. Reason for use: Gross margin is an important measure which provides a better understanding of the business development. Gross margin is impacted by several factors such as business, product and region mix and price developments. Items affecting comparability Definition: Items that are of significant value and have no clear connection to recurring, ordinary operations and are of such a type that they cannot be expected to occur often. This may, for example, refer to capital gains/losses from divestments, restructuring, acquisition related costs, inventory write-downs for preapproval production and their reversal upon approval, impairments, and other unusual one-time income/expenses. Restructuring refers to structural efficiency programmes that impact the scope of the business or other changes to business operations. Acquisition related costs may refer to release of fair value adjustments on acquired inventories, fair value movements relating to contingent considerations on business combinations and transaction costs. Costs are identified on a project basis and may be incurred over more than one year. Reason for use: Provides a better understanding of the company’s underlying operating activities. Q3 Q3 Jan-Sep Jan-Sep FY SEK M 2026 2025 2026 2025 2025 Total revenue 9,124 7,776 24,150 20,417 28,238 Total cost of goods sold -2,002 -1,614 -5,577 -4,629 -6,252 Gross profit 7,123 6,162 18,573 15,788 21,986 Gross margin 78% 79% 77% 77% 78% Items affecting comparability -Discontinuation of contract manufacturing — — — -11 -11 -Acquisition related costs — 37 43 169 262 -Organisational changes — — — 3 3 -Inventory write-down preapproval 73 15 93 15 31 Items affecting comparability 73 53 135 176 284 Adjusted gross profit 7,195 6,214 18,708 15,964 22,270 Adjusted gross margin 79% 80% 77% 78% 79% EBIT1 3,226 -3,858 6,720 -1,491 867 Items affecting comparability -Discontinuation of contract manufacturing — — — -11 -11 -Acquisition related costs 7 37 129 169 296 -Impairment Zynlonta — — 452 — — -Impairment Vonjo — 6,612 — 6,612 6,612 -Organisational changes — — — 208 208 -Inventory write-down preapproval 73 15 93 15 31 -Fair value movement on contingent considerations 18 — -83 — — Items affecting comparability2 97 6,664 590 6,993 7,136 Adjusted EBIT 3,323 2,806 7,311 5,502 8,003 1. For EBIT and EBITA per segment, see Note 2. 2. Items affecting comparability, see page 3 for further information. Sobi Q3 2026 report 31
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EBITA and EBITA margin Definition: Earnings before interest, tax, amortisation and impairment of intangible assets. EBITA margin; EBITA as a percentage of total revenue. Reason for use: EBITA is a key performance measure and gives a fair view of the profitability of the ongoing business. Q3 Q3 Jan-Sep Jan-Sep FY SEK M 2026 2025 2026 2025 2025 EBIT1 3,226 -3,858 6,720 -1,491 867 Plus amortisation and impairment of intangible assets 764 7,478 2,725 9,234 9,950 EBITA1 3,990 3,620 9,445 7,743 10,817 EBITA margin 44% 47% 39% 38% 38% 1. For EBIT and EBITA per segment, see Note 2. Items affecting comparability -Discontinuation of contract manufacturing — — — -11 -11 -Acquisition related costs 7 37 129 169 296 -Organisational changes — — — 208 208 -Inventory write-down preapproval 73 15 93 15 31 -Fair value movement on contingent considerations 18 — -83 — — Items affecting comparability 97 53 139 381 524 Adjusted EBITA 4,087 3,672 9,584 8,124 11,341 Adjusted EBITA margin 45% 47% 40% 40% 40% EBITDA Definition: Earnings before interest, taxes, depreciation, amortisation and impairment of intangible and tangible assets. Reason for use: It is a relevant measure to present profitability aligned with industry standard. EBITA 3,990 3,620 9,445 7,743 10,817 Plus depreciation and impairment of tangible assets 46 36 124 108 146 EBITDA 4,036 3,656 9,569 7,851 10,963 Items affecting comparability -Discontinuation of contract manufacturing — — — -11 -11 -Acquisition related costs 7 37 129 169 296 -Organisational changes — — — 208 208 -Inventory write-down preapproval 73 15 93 15 31 -Fair value movement on contingent considerations 18 — -83 — — Items affecting comparability 97 53 139 381 524 Adjusted EBITDA 4,133 3,709 9,708 8,232 11,487 Sobi Q3 2026 report 32
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Adjusted earnings per share Definition: Adjusted profit attributable to equity holders of the parent company divided by the average number of ordinary shares. Reason for use: Adjusted earnings per share is a good measure of the company’s profitability and is used to determine the value of the company’s outstanding shares. Q3 Q3 Jan-Sep Jan-Sep FY SEK M 2026 2025 2026 2025 2025 Profit for the period attributable to the holders of the parent company 2,350 -2,894 4,766 -1,384 478 Items affecting comparability 97 6,664 590 6,993 7,136 Tax on items affecting comparability -Discontinuation of contract manufacturing — — — 2 2 -Acquisition related costs -2 -9 -35 -42 -74 -Impairment Zynlonta — — -93 — — -Impairment Vonjo — -1,653 — -1,653 -1,653 -Organisational changes — — — -46 -46 -Inventory write-down preapproval -20 -3 -24 -3 -6 -Fair value movement on contingent considerations -5 — 23 — — Tax on items affecting comparability -27 -1,665 -129 -1,742 -1,777 Items affecting comparability (net of tax) 70 4,999 461 5,251 5,359 Adjusted profit for the period attributable to the holders of the parent company 2,421 2,105 5,227 3,868 5,837 Average number of ordinary shares (excluding shares in treasury) 347,798,875 344,648,852 346,590,060 343,947,311 344,299,173 Average number of ordinary shares after dilution (excluding shares in treasury) 351,539,772 347,871,356 350,330,957 347,169,815 347,608,339 Adjusted EPS before dilution, SEK 6.96 6.11 15.08 11.25 16.95 Adjusted EPS after dilution, SEK 6.89 6.05 14.92 11.14 16.79 Net debt Definition: Borrowings to banks and other credit institutions and commercial papers less cash and cash equivalents. Reason for use: Net debt is relevant to present as it is useful to illustrate the indebtedness, financial flexibility and capital structure. Borrowings 15,786 13,216 15,786 13,216 11,122 Cash and cash equivalents 1,005 1,039 1,005 1,039 1,041 Net debt 14,781 12,177 14,781 12,177 10,081 Equity ratio Definition: Total equity as a proportion of total assets. Reason for use: A measure for showing financial risk, expressing the percentage of total assets that is financed by the owners. Equity per share Definition: Equity attributable to the holders of the parent company divided by the number of ordinary shares. Reason for use: A measure of the amount of equity that exists per outstanding share and is used for measuring the share against the share price. Total equity 45,424 35,983 45,424 35,983 37,723 Total assets 85,475 66,964 85,475 66,964 67,434 Equity ratio 53% 54% 53% 54% 56% Equity attributable to Parent Company shareholders 45,417 35,977 45,417 35,977 37,717 Number of ordinary share 357,636,514 357,412,837 357,636,514 357,412,837 357,412,837 Number of ordinary shares after dilution 361,377,411 360,635,341 361,377,411 360,635,341 360,722,003 Equity per share, SEK 127.0 100.7 127.0 100.7 105.5 Equity per share after dilution, SEK 125.7 99.8 125.7 99.8 104.6 Sobi Q3 2026 report 33
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Definitions Alprolix® (eftrenonacog alfa) A recombinant, extended half-life (EHL) clotting factor IX medicine for the treatment of haemophilia B. Altuvoct® (efanesoctocog alfa) The first high-sustained FVIII replacement therapy with the potential to maintain near- normal factor activity levels for a significant portion of the week, providing improved bleed protection with a once-weekly dose for people with haemophilia A. It is marketed as Altuvoct by Sobi in Europe and as Altuviiio® by Sanofi in Japan, Taiwan and the US . Aplastic anaemia Aplastic anaemia is a rare, serious condition in which the bone marrow does not produce enough blood cells. This can lead to fatigue, an increased risk of infections and bleeding. Aspaveli®/Empaveli® (pegcetacoplan) A targeted C3 therapy designed to regulate the excessive activation of the complement cascade, which is part of the body’s immune system. It is approved for the treatment of a rare blood disorder called paroxysmal nocturnal haemoglobinuria (PNH). By targeting C3, a protein in the immune system, it helps regulate excessive activation that can lead to the onset and progression of serious and rare diseases. It is marketed as Aspaveli in Europe and as Empaveli in Canada, the Middle East, South America, and certain countries in Asia by Sobi. In the US, Empaveli is marketed by Apellis. Beyfortus® (nirsevimab) A single-dose, long-acting antibody developed and commercialised in partnership by AstraZeneca and Sanofi. It is designed to protect newborns and infants from RSV during their first RSV season, as well as children up to 24 months who are still at risk of severe disease in their second RSV season. BLA, Biologics Licence Application A submission to the US Food and Drug Administration (FDA) requesting permission to market a biological product in the US. A BLA is similar to a New Drug Application (NDA) but specifically for biologics. C3G & IC-MPGN, C3 glomerulopathy and immune-complex membranoproliferative glomerulonephritis C3G and primary IC-MPGN are ultra-rare kidney diseases caused by an overactive C3 protein in the immune system, which mistakenly damages the kidneys. Both conditions are characterised by deposits of C3 protein in the kidneys, with additional deposits of immunoglobulins in the case of primary IC-MPGN. CER Constant exchange rates CRL, Complete Response Letter A communication from the US Food and Drug Administration (FDA) stating that an application cannot be approved in its current form and describing what must be addressed. CTCL, cutaneous T-cell lymphoma A group of rare non-Hodgkin lymphomas that includes Sézary syndrome, a rare and aggressive leukemic form, and mycosis fungoides, the most common subtype in CTCL. DLBCL, diffuse large B-cell lymphoma A form of non-Hodgkin lymphoma and the most common blood cancer. Lymphomas occur when cells of the immune system, known as B-lymphocytes, grow and multiply uncontrollably. DLBCL occurs mostly in adults and is a fast-growing (aggressive) lymphoma. Doptelet® (avatrombopag) An orally administered thrombopoietin receptor agonist that increases platelet count for the treatment of thrombocytopenia. Elocta® (efmoroctocog alfa) A recombinant, extended half-life (EHL) clotting factor VIII medicine for the treatment of haemophilia A. It is also known as Eloctate in some countries. FCS, familial chylomicronaemia syndrome A rare, genetic form of sHTG caused by the body’s inability to properly break down triglycerides (blood fats). This leads to extremely high triglyceride levels, which increase the risk of acute pancreatitis and chronic symptoms such as fatigue and severe, recurrent abdominal pain. Full-time equivalent A unit that indicates the workload of an employee in a way that makes it comparable. Gamifant® (emapalumab- lzsg) A monoclonal antibody medicine that binds to and neutralises interferon-gamma for the treatment of ultra-rare syndromes of hyperinflammation. Gout One of the most common forms of inflammatory arthritis, caused by high levels of uric acid in the body that accumulate around the joints and other tissues, resulting in flares that cause intense pain. Haemophilia A genetic bleeding disorder caused by low levels of blood-clotting proteins, including factor VIII (haemophilia A) and factor IX (haemophilia B). These clotting factors are essential for proper clotting, the process by which blood forms a plug at a wound to stop bleeding. Haemophilia business Sobi's haemophilia business consists of Altuvoct, Altuviiio royalties, Elocta, Alprolix, Eloctate and Alprolix royalties. Haemophilia A business Sobi's haemophilia A business consists of sales of Altuvoct and Elocta. IDS, interferon-gamma- driven sepsis Sepsis is a severe response to infection that can cause organ failure and is a major global cause of death. About 20% of patients show the newly identified IDS endotype. IND, Investigational New Drug application A request to obtain authorisation from the US Food and Drug Administration (FDA) to administer an investigational drug or biological product to humans in the US. ITP, immune thrombocytopenia An auto-immune disorder caused by low platelet count in the blood, leading to bruising and an increased risk of bleeding. Sobi Q3 2026 report 34
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Kineret® (anakinra) A r e c o m b i n a n t p r o t e i n m e d i c i n e t h a t b l o c k s i n t e r l e u k i n - 1 α a n d β b y b i n d i n g t o i n t e r l e u k i n - 1 type 1 receptors. Interleukin-1 is a key mediator of inflammation and a significant contributor to auto-inflammatory diseases, including several rare diseases. Lacutamab A first-in-class antibody being developed to treat cutaneous T-cell lymphoma (CTCL). CTCL is a group of rare non-Hodgkin lymphomas that includes Sézary syndrome, a rare and aggressive leukemic form, and mycosis fungoides, the most common subtype in CTCL. MAS, macrophage activation syndrome A severe complication of rheumatic diseases, causing symptoms such as fever, enlarged organs, blood and liver issues, and, in severe cases, organ failure or death. MCS, multifactorial chylomicronaemia syndrome A severe form of sHTG where chylomicrons (fat particles in the blood) build up to extremely high levels, causing symptoms such as fatigue, severe, recurrent abdominal pain and an increased risk of acute pancreatitis. Myelofibrosis A rare type of blood cancer that causes scar tissue to form in the bone marrow. As the scar tissue builds up, it disrupts the body’s normal production of blood cells. NASP, nanoencapsulated sirolimus plus pegadricase A novel investigational combination medicine designed to reduce serum urate levels in people with uncontrolled gout, potentially reducing harmful tissue urate deposits that can cause gout flares and joint deformities if left untreated. NDA, New Drug Application A submission to the US Food and Drug Administration (FDA) seeking approval to market a new pharmaceutical drug in the US. Orfadin® (nitisinone) A medicine used to treat hereditary tyrosinaemia type 1. It blocks the breakdown of tyrosine, thereby reducing the amount of toxic tyrosine by-products in the body. Patients must maintain a special diet in combination with Orfadin treatment as tyrosine is not adequately broken down. Orfadin can also be used for alkaptonuria. PDUFA date, Prescription Drug User Fee Act date The target date set by the US Food and Drug Administration (FDA) for a decision on whether to approve a new drug application (NDA) or biologics licence application (BLA). pHLH, primary haemophagocytic lymphohistiocytosis A rare, life-threatening condition caused by an overactive, abnormal response of the immune system. In haemophagocytic lymphohistiocytosis, the immune system responds to a stimulus or ‘trigger’, often an infection, but the response is ineffective and abnormal. Some affected individuals may have a genetic predisposition to developing haemophagocytic lymphohistiocytosis. This is known as the primary or familial form. PNH, paroxysmal nocturnal haemoglobinuria A rare, acquired disorder in which red blood cells break apart prematurely. Some stem cells in individuals with PNH have mutated and produce defective blood cells. These defective red blood cells are extremely susceptible to premature destruction by a part of the immune system called the complement system. Pozdeutinurad (AR882) A n i n v e s t i g a t i o n a l o n c e ‑ d a i l y o r a l m e d i c i n e f o r p r o g r e s s i v e a n d t o p h a c e o u s g o u t . RSV, respiratory syncytial virus A common virus and the most common cause of lower respiratory tract infections in newborns and infants. The RSV season usually occurs from early autumn until late spring and peaks during the winter. SBTi, Science Based Targets initiative SBTi is a partnership between the World Wide Fund for Nature (WWF), World Resources Institute (WRI), the United Nations Global Compact (UNGC) and CDP. The SBTi defines and promotes best practice in CO2-emission reductions and net-zero targets. sHTG, severe hypertriglyceridemia A condition with very high triglyceride (blood fat) levels, increasing the risk of acute pancreatitis and other complications. Still's disease A rare systemic auto-inflammatory disease characterised by fevers, rash and joint pain. Still’s disease includes Systemic juvenile idiopathic arthritis (SJIA) and Adult-Onset Still's disease (AOSD), which share symptoms but vary in frequency and presentation. A potentially fatal complication is macrophage activation syndrome (MAS). Strategic portfolio Includes Sobi's medicines Altuvoct, Aspaveli/Empaveli, Doptelet, Gamifant, Tryngolza, Vonjo and Zynlonta, and royalty on Sanofi's sales on Altuviiio and Beyfortus. sUA, serum uric acid The concentration of uric acid measured in the blood. Elevated sUA levels are associated with gout, as high levels of uric acid can accumulate around joints and tissues, causing inflammation and pain. Synagis® (palivizumab) A monoclonal antibody that helps neutralise RSV activity and inhibit RSV replication. Approved for the prevention of serious lower respiratory tract infections caused by RSV in infants and young children at high risk of RSV disease. Synovitis The major and most common complication of haemophilia. It is caused by bleeding inside a joint (haemarthrosis) which irritates the membrane lining the joints (synovium), leading to inflammation and thickening of the synovium (synovitis). Untreated synovitis invariably evolves into arthropathy which is irreversible. Tegsedi® (inotersen) A medicine for the treatment of polyneuropathy caused by hereditary transthyretin- mediated amyloidosis in adults. Tryngolza® (olezarsen) A medicine approved for the treatment of adults with familial chylomicronaemia syndrome (FCS) to reduce very high triglyceride (blood fat) levels. Under a licence agreement with Ionis Pharmaceuticals, Sobi holds exclusive rights to commercialise Tryngolza outside Canada, China and the US. Tryngolza is currently approved for FCS in the EU and the US. VEXAS, vacuoles, E1 enzyme, X-linked, autoinflammatory, somatic A rare, chronic auto-inflammatory syndrome with currently no approved treatments. Vonjo® (pacritinib) An oral medicine approved in the US for the treatment of adults with certain types of myelofibrosis and low platelet counts. It is a targeted kinase inhibitor, which works by blocking the activity of specific kinases responsible for blood cell formation and immune system function. Sobi Q3 2026 report 35
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Waylivra® (volanesorsen) A medicine used to reduce triglyceride blood levels in patients with familial chylomicronaemia syndrome (FCS) that has been confirmed by genetic testing. Zynlonta® (loncastuximab tesirine) A medicine used to treat adults with certain types of diffuse large B-cell lymphoma (DLBCL) that have relapsed or failed to respond to previous treatment. Sobi Q3 2026 report 36
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Sobi is a global biopharma company unlocking the potential of breakthrough innovations, transforming everyday life for people living with rare diseases. Sobi has approximately 2,000 employees across Europe, North America, the Middle East, Asia and Australia. In 2025, revenue amounted to SEK 28 billion. Sobi’s share (STO:SOBI) is listed on Nasdaq Stockholm. More about Sobi at sobi.com and LinkedIn. Swedish Orphan Biovitrum AB (publ) SE-112 76 Stockholm, Sweden Visiting address: Norra Stationsgatan 93A, Stockholm, Sweden +46 8 697 20 00 info@sobi.com sobi.com