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Q2 2026 Financial Results August 3, 2026 Indivior, Powering Recovery, Renewing Hope.
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IMPORTANT CAUTIONARY STATEMENT REGARDING FORWARD- LOOKING STATEMENTS Q2 2026 RESULTS | AUGUST 3, 2026 2 This presentation contains certain statements that are forward-looking. Forward-looking statements include, among other things, express and implied statements regarding: potential deployment of capital to create long-term value for shareholders, including potential share repurchases and potential business development opportunities and acquisitions of next growth drivers; expected acceleration of SUBLOCADE U.S. dispense unit and net revenue growth throughout 2026; planned initiatives to accelerate SUBLOCADE growth; the Company’s financial guidance for 2026, including total net revenue, SUBLOCADE® net revenue, non-GAAP operating expenses, adjusted EBITDA, and cash flow from operations; planned initiatives to simplify the organization and accelerate Adjusted EBITDA and Cash Flow; anticipated benefits of the proposed merger with Supernus, the expected timing of completion of the proposed merger, estimated costs associated with the proposed merger; and other statements containing the words "believe," "anticipate," "plan," "expect," "intend," "estimate," "forecast," “strategy,” “target,” “guidance,” “outlook,” “potential,” "project," "priority," "may," "will," "should," "would," "could," "can," the negatives thereof, and variations thereon and similar expressions. Actual results may differ materially from those expressed or implied in these forward-looking statements due to a number of factors, including: our ability to identify accretive investment opportunities, to negotiate with third parties to acquire such assets, to obtain necessary regulatory approvals, and to efficiently manage such assets and execute upon opportunities; lower than expected future sales of our products; greater than expected impacts from competition; unanticipated costs including the effects of potential tariffs and potential retaliatory tariffs; whether we are able to identify efficiencies and fund additional investments that we expect to generate increased revenue, and the timing of such actions; market acceptance of long-acting injectables; cash available for share repurchases in the future, and the market price of our common stock in the future; the risk that the proposed merger with Supernus may not be completed on the anticipated timeline or at all; the failure to obtain required stockholder or regulatory approvals for the merger, or the imposition of conditions in connection with such approvals; the risk that the anticipated benefits, synergies, growth, profitability, cash flow generation and earnings accretion of the merger are not realized or are realized more slowly than expected; and risks relating to the integration of the two businesses. For additional information about some of the risks and important factors that could affect our future results and financial condition, see "Risk Factors" in our Annual Report on Form 10-K filed February 26, 2026, and in our other filings with the U.S. Securities and Exchange Commission. Forward-looking statements speak only as of the date that they are made and should be regarded solely as our current plans, estimates and beliefs. Except as required by law, we do not undertake and specifically decline any obligation to update, republish or revise forward-looking statements to reflect future events or circumstances or to reflect the occurrence of unanticipated events.
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IMPORTANT ADDITIONAL INFORMATION AND WHERE TO FIND IT 3 Important Additional Information and Where to Find It In connection with the proposed transaction, Indivior intends to file with the SEC a registration statement on Form S-4, which will include a document that serves as a prospectus of Indivior and a joint proxy statement of Indivior and Supernus (the “joint proxy statement/prospectus”). Each party also plans to file other relevant documents with the SEC regarding the proposed transaction. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS AND OTHER RELEVANT DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. A definitive joint proxy statement/prospectus will be sent to Indivior’s stockholders and Supernus’ stockholders. Investors and securityholders may obtain a free copy of the joint proxy statement/prospectus (if and when it becomes available) and other relevant documents filed by Indivior and Supernus with the SEC at the SEC’s website at www.sec.gov. Copies of the documents filed by Indivior with the SEC will be available free of charge on Indivior’s website at www.indivior.com or by contacting Indivior’s Investor Relations at InvestorRelations@indivior.com. Copies of the documents filed by Supernus with the SEC will be available free of charge on Supernus’ website at www.supernus.com. No Offer or Solicitation This communication and the information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. Participants in the Solicitation Indivior and Supernus and their respective directors, executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information about directors and executive officers of Indivior is available in the Indivior proxy statement for its 2026 Annual Meeting, which was filed with the SEC on March 27, 2026. Information about directors and executive officers of Supernus is available in the Supernus proxy statement for its 2026 Annual Meeting, which was filed with the SEC on April 30, 2026. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the joint proxy statement/prospectus and other relevant materials filed with the SEC regarding the proposed transaction when they become available. Investors should read the joint proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. Investors may obtain free copies of these documents from Indivior and Supernus as indicated above. Q2 2026 RESULTS | AUGUST 3, 2026
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Execution Against the Indivior Action Agenda
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Q2 2026 BUSINESS PERFORMANCE HIGHLIGHTS 5 SUBLOCADE Net RevenueTotal Net Revenue Adjusted EBITDA1 Raising Full-Year 2026 Financial Guidance $209m $253m Q2'25 Q2'26 +21% $302m $343m Q2'25 Q2'26 +14% $88m $186m 29% 54% Q2'25 Q2'26 +111% Adjusted EBITDA margin2 1. Adjusted EBITDA is a non-GAAP financial measure. Net income for Q2 2026 and Q2 2025 was $122m and $18m, respectively. See App endix for the reconciliation to the most comparable GAAP measure. 2. Adjusted EBITDA margin is defined as Adjusted EBITDA divided by Total Net Revenue. Capital Deployment Opportunistically returned value to shareholders through $175m of share repurchases Q2 2026 RESULTS | AUGUST 3, 2026
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THE INDIVIOR ACTION AGENDA I II III Grow U.S. SUBLOCADE net revenue Simplify the organization and establish “go-forward” operating model Determine actions and investments necessary to expand LAI penetration in U.S. BMAT category to accelerate U.S. SUBLOCADE net revenue • Accelerate U.S. SUBLOCADE dispense unit and net revenue throughout 2026 • Immediately accelerate adjusted EBITDA and cash flowat a faster rate Phase II – Accelerate (Began Jan. 1st) • Leverage strengthened financial profile to acquire next growth drivers Phase III – Breakout (Began July 1st) Phase I – Generate Momentum (Completed) LAI: long-acting injectable. BMAT: buprenorphine medication assisted treatment. 6Q2 2026 RESULTS | AUGUST 3, 2026
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INDIVIOR ACTION AGENDA ACCOMPLISHMENTS $856m $1,030m1 2025 2026E Accelerated U.S. SUBLOCADE $428m $720m1 35% 54% 2025 2026E Non-GAAP operating expenses will not exceed $450m ~$420m in cash flow from operations expected in 20262 Total SUBLOCADE Net Revenue Adjusted EBITDA3 7 1. Based on the midpoint of the financial guidance ranges provided in Indivior’s earnings press release, included as an exhibit to its Form 8-K furnished with the SEC on August 3, 2026. 2. Excludes cash flows from investing and financing activities. 3. Adjusted EBITDA is a non- GAAP financial measure. See non-GAAP Financial Measures in the Appendix for reconciliation to the most comparable GAAP measures. For non- GAAP guidance Items, the Company has relied upon the e xception in Item 10(e)(1)(i)(B) of Regulation S-K to exclude such reconciliations, as the reconciliations of these non- GAAP guidance metrics to their corresponding GAAP equivalents are not available without unreasonable effort; See Appendix for details. 4 . Adjusted EBITDA margin is defined as Adjusted EBITDA divided by Total Net Revenue. Simplified the Organization & Accelerated Adjusted EBITDA and Cash Flow Adjusted EBITDA margin4 Expect 20% dispense unit growth in 2026 from 7% in 2025 Improved debt terms with issuance of $500m convertible senior notes Returned $300m in value to shareholders over past year through repurchase of over 8.6m shares at an average price of $34.73 Strengthened Financial Flexibility and Strategically Deployed Capital +20% +68% Q2 2026 RESULTS | AUGUST 3, 2026
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PHASE III – BREAKOUT: PROPOSED MERGER WITH SUPERNUS 8 Enhances and diversifies growth profile Differentiated portfolio with durable growth into the 2030s Four commercial beachheads Immediate increased scale from significant cost synergies Greater flexibility to pursue growth initiatives Significant value creation for shareholders with upside from potential multiple expansion Q2 2026 RESULTS | AUGUST 3, 2026 Builds a diversified CNS biopharmaceutical leader with significant scale
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SUBLOCADE® Commercial Update
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~ Q2 2026 U.S. SUBLOCADE PERFORMANCE* 1 Trailing twelve months (TTM) estimated patients in treatment (Indivior analytics). 2 Total number of dispenses (new and refill) within the quarter (Indivior analytics). 3 Active count of prescribing HCPs excluding delisted and Specialty HCPs (Indivior analytics). *Some percentages may not calculate due to rounding. HCPs with 5+ SUBLOCADE Patients3 Strong SUBLOCADE Dispense Growth2 Growing SUBLOCADE Prescriber Base3 165,700 182,600 195,400 Q2'25 Q1'26 Q2'26 // +18% YoY +7% QoQ 3,300 3,700 3,900 Q2'25 Q1'26 Q2'26 8,300 9,300 9,800 Q2'25 Q1'26 Q2'26 +18% YoY +5% QoQ //// +27% Growth in new patient starts in Q2’26 vs. Q2’25 +18% YoY +4% QoQ U.S. patients prescribed SUBLOCADE since launch >545K 10 76% SUBLOCADE share of U.S. LAI category TTM SUBLOCADE Patients1 171,500 191,600 199,800 Q2'25 Q1'26 Q2'26 // +17% YoY +4% QoQ Q2 2026 RESULTS | AUGUST 3, 2026
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PROGRESS ON SUSTAINED INITIATIVES TO ACCELERATE SUBLOCADE Unlocking Access Through Policy Leadership • Advancing state and federal policies that support durable access to increase long-term adoption of LAIs • Activating advocates to accelerate access, reduce system barriers and increase awareness Expanding Patient Awareness and Engagement • DTC Campaign ("Move Forward in Recovery") driving sustained high-quality patient engagement • 1,300+ CRM enrollments per month in Q2’26 • 34,000+ people utilized the FASTP 1 physician locator in Q2’26 Improving Commercial Execution • 10% of new patients receiving accelerated second dose exiting Q2’26 • 25% of active HCPs have begun prescribing an accelerated second dose • 5 executed agreements with specialty pharmacy partners that are expected to improve commercial dispense yields 111. FASTP = Find A SUBLOCADE Treatment Provider Q2 2026 RESULTS | AUGUST 3, 2026
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Q2 2026 Performance & FY 2026 Guidance
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Q2 2026 FINANCIAL HIGHLIGHTS 13 OPERATING RESULTS: KEY TAKEAWAYS: Total Net Revenue (+14% vs. Q2’25) was primarily driven by strong SUBLOCADE net revenue growth in the U.S. (+22% YoY) SUBLOCADE Net Revenue (+21% vs. Q2’25) primarily driven by dispense unit growth (+18% YoY) in the U.S. U.S. SUBOXONE Film Net Revenue benefited from continued generic price stability in the U.S., a credit related to Medicaid rebates (+$8m) and positive gross-to-net adjustments Total Non-GAAP Operating Expenses1 (-33% vs. Q2’25) primarily reflecting simplification actions executed as part of Phase I of the Indivior Action Agenda – Generate Momentum Adjusted EBITDA3 (+111% vs. Q2’25) reflecting improvement in adjusted EBITDA margin (+25 percentage points) Columns and rows may not foot due to rounding. 1See non-GAAP Financial Measures in the Appendix for reconciliation. 2GAAP Selling, General and Administrative Expenses were $122m in Q2 2026 and $158m in Q2 2025, and GAAP Research and Development expenses were $12m in Q2 2026 and $21m in Q2 2025. 3Adjusted EBITDA is a non-GAAP financial measure. See Appendix for the reconciliation to the most comparable GAAP measure. Adjusted EBITDA margin is defined as Adjusted EBITDA divided by Total Net Revenue. $ mil Q2 2026 Q2 2025 Δ Total Net Revenue (NR): 343 302 14% Total SUBLOCADE NR: 253 209 21% Gross Profit: 294 250 17% Gross Margin 85% 83% +200 bps Non-GAAP Gross Profit: 297 252 18% Non-GAAP Gross Margin1 87% 84% +300 bps Operating Expenses: (134) (179) (25)% Non-GAAP Operating Expenses1: (112) (167) (33)% Non-GAAP Selling, General and Administrative2 (107) (146) (27)% Non-GAAP Research and Development2 (6) (21) (72)% Net Income 122 18 574% Non-GAAP Net Income1 142 64 122% Adjusted EBITDA3 186 88 111% Adj. EBITDA Margin3 54% 29% +2500 bps Q2 2026 RESULTS | AUGUST 3, 2026
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14 RAISING 2026 FINANCIAL GUIDANCE Previous Guidance (4/30/2026) Updated Guidance1 (7/30/2026) YoY Change2 Total Net Revenue $1,215m - $1,285m $1,295m - $1,365m +7% SUBLOCADE Net Revenue $950m - $990m $1,010m - $1,050m +20% Non-GAAP Operating Expenses3 $430m - $450m $430m - $450m -29% Adjusted EBITDA3 $620m - $660m $700m - $740m +68% 1. As of August4, 2026, before certain adjustments and assuming no material change in key FX rates vs. FY 2025 average rates. Fi nancial data provided by Indivior in its earnings press release included as an exhibit to its Form 8 -K furnished with the SEC on August 3, 2026. 2. Represents the midpoint of 2026 guidance ranges compared to 2025 actuals. 3. For non-GAAP guidance items, the Company has relied upon the exception in Item 10(e)(1)(i)(B) of Regulation S -K to exclude such reconciliations, as the reconciliations of these non-GAAP guidance metrics to their corresponding GAAP equivalents are not available without unreasonable effort; See Appendix fo r details. Q2 2026 RESULTS | AUGUST 3, 2026
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2026 CAPITAL DEPLOYMENT $249m in cash and investments as of 6/30/26 ~$420m Expected cash flow from operations expected in 20261 DEBT MANAGEMENT In March 2026, completed offering of $500m convertible senior notes due in 2031; proceeds used to repay $333m term loan SHARE REPURCHASES In Q2’26, repurchased ~4.7m shares at an average price of $37.52 for total of $175m BUSINESS DEVELOPMENT Announced proposed merger with Supernus; transaction expected to close in Q4’26 15 1. Excludes cash flows from investing and financing activities. Q2 2026 RESULTS | AUGUST 3, 2026
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Conclusion
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FOCUSED ON SUCCESSFULLY COMPLETING ALL 3 PHASES OF THE INDIVIOR ACTION AGENDA Deliver on financial and operational commitments Close transaction with Supernus to create long-term value for shareholders Execute Phase II – Accelerate SUBLOCADE 17 Q2 2026 RESULTS | AUGUST 3, 2026
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Appendix
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Non-GAAP Gross Profit Reconciliation Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 GAAP gross profit $ 294 $ 250 $ 570 $ 472 Adjustments within cost of sales: Manufacturing transition 2 2 3 2 Corporate initiative transition 2 — 2 — Plus: Adjustments in cost of sales 4 2 5 2 Non-GAAP Gross Profit $ 297 $ 252 $ 576 $ 474 Columns may not foot due to rounding. 19
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Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 GAAP operating expenses $ 134 $ 179 $ 273 $ 334 Stock-based compensation 11 8 20 14 Corporate initiative transition 10 4 24 5 Litigation settlement expense — — — 1 Less: Adjustments in operating expenses 22 12 45 20 Non-GAAP operating expenses $ 112 $ 167 $ 229 $ 313 Columns may not foot due to rounding. Non-GAAP Operating Expenses Reconciliation 20
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Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 GAAP selling, general and administrative expenses $ 122 $ 158 $ 245 $ 291 Adjustments within SG&A Stock-based compensation 11 8 20 14 Corporate initiative transition 4 4 10 5 Litigation settlement expenses — — — 1 Less: Adjustments in selling, general and administrative expenses 15 12 31 20 Non-GAAP selling, general and administrative expenses $ 107 $ 146 $ 214 $ 270 Columns may not foot due to rounding. Non-GAAP SG&A Reconciliation 21
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Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 GAAP research and development expenses $ 12 $ 21 $ 28 $ 43 Adjustments within R&D Corporate initiative transition 6 — 14 — Less: Adjustments in research and development expenses 6 — 14 — Non-GAAP research and development expenses $ 6 $ 21 $ 15 $ 43 Columns may not foot due to rounding. Non-GAAP Research & Development Reconciliation 22
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Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 GAAP net income $ 122 $ 18 $ 211 $ 65 Adjustments in cost of sales1 4 2 5 2 Adjustments in operating expenses 22 12 45 20 Adjustments in interest expense — 4 — 4 Loss on debt extinguishment — — 18 — Adjustments in tax expenses (5) 28 (14) 29 Non-GAAP net income $ 142 $ 64 $ 266 $ 121 Shares used in computing diluted non-GAAP earnings per share 124 126 127 125 Non-GAAP diluted earnings per share $ 1.15 $ 0.51 $ 2.10 $ 0.96 1Includes manufacturing transition and other costs Non-GAAP diluted earnings per share Management believes that non-GAAP diluted earnings per share, adjusted for the impact of non-recurring items and other adjustments after the appropriate tax amount, may provide meaningful information on underlying trends to shareholders in respect of earnings per ordinary share. Weighted average shares used in computing non- GAAP diluted earnings per share are included in the table above. A reconciliation of GAAP net income to non-GAAP net income is included above. Columns may not foot due to rounding. Non-GAAP Net Income Reconciliation 23
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Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Net income $ 122 $ 18 $ 211 $ 65 Interest (income) (3) (6) (5) (10) Interest expense 2 15 9 27 Income tax expense 38 44 65 56 Depreciation and amortization 2 3 4 5 Stock-based compensation 11 8 20 14 Corporate initiative transition 11 4 26 5 Manufacturing transition 2 2 4 2 Loss on debt extinguishment — — 18 — Litigation settlement expense — — — 1 Adjusted EBITDA $ 186 $ 88 $ 350 $ 165 Adjusted EBITDA Adjusted EBITDA is a non-GAAP financial measure that represents GAAP net income adjusted to exclude interest expense, interest income, income tax expense or benefit, depreciation and amortization, stock- based compensation, and other adjustments reflecting changes in our business that do not represent ongoing operations. Adjust ed EBITDA, as used by us, may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies. Columns may not foot due to rounding. Adjusted EBITDA Reconciliation 24
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SUBLOCADE® (buprenorphine extended-release) injection, for subcutaneous use (CIII) INDICATION SUBLOCADE is indicated for the treatment of moderate to severe opioid use disorder in patients who have initiated treatment with a single dose of a transmucosal buprenorphine product or who are already being treated with buprenorphine. SUBLOCADE should be used as part of a complete treatment plan that includes counseling and psychosocial support. HIGHLIGHTED SAFETY INFORMATION WARNING: RISK OF SERIOUS HARM OR DEATH WITH INTRAVENOUS ADMINISTRATION; SUBLOCADE RISK EVALUATION AND MITIGATION STRATEGY See full prescribing information for complete boxed warning. • Serious harm or death could result if administered intravenously. • SUBLOCADE is only available through a restricted program called the SUBLOCADE REMS Program. Healthcare settings and pharmacies that order and dispense SUBLOCADE must be certified in this program and comply with the REMS requirements. CONTRAINDICATIONS Hypersensitivity to buprenorphine or any other ingredients in SUBLOCADE. WARNINGS AND PRECAUTIONS Addiction, Abuse, and Misuse: SUBLOCADE contains buprenorphine, a Schedule III controlled substance that can be abused in a manner similar to other opioids. Monitor patients for conditions indicative of diversion or progression of opioid dependence and addictive behaviors. Respiratory Depression: Life threatening respiratory depression and death have occurred in association with buprenorphine. Warn patients of the potential danger of self-administration of benzodiazepines or other CNS depressants while under treatment with SUBLOCADE. Risk of Serious Injection Site Reactions: Likelihood of serious injection site reactions may increase with inadvertent intramuscular or intradermal administration. Evaluate and treat as appropriate. The most common injection site reactions are pain, erythema and pruritus with some involving abscess, ulceration and necrosis. Neonatal Opioid Withdrawal Syndrome: Neonatal opioid withdrawal syndrome (NOWS) is an expected and treatable outcome of prolonged use of opioids during pregnancy. Adrenal Insufficiency: If diagnosed, treat with physiologic replacement of corticosteroids, and wean patient off the opioid. Risk of Opioid Withdrawal With Abrupt Discontinuation: If treatment with SUBLOCADE is discontinued, monitor patients for several months for withdrawal and treat appropriately. Risk of Hepatitis, Hepatic Events: Monitor liver function tests prior to and during treatment. Risk of Withdrawal in Patients Dependent on Full Agonist Opioids: Verify that patients have tolerated transmucosal buprenorphine before injecting SUBLOCADE. Treatment of Emergent Acute Pain: Treat pain with a non-opioid analgesic whenever possible. If opioid therapy is required, monitor patients closely because higher doses may be required for analgesic effect. ADVERSE REACTIONS Adverse reactions commonly associated with SUBLOCADE (in ≥5% of subjects) were constipation, headache, nausea, injection site pruritus, vomiting, increased hepatic enzymes, fatigue, and injection site pain. For more information about SUBLOCADE, the full Prescribing Information including BOXED WARNING, and Medication Guide, visit www.sublocade.com . 25