Slide 1: Q3 2025 update
Q3 2025 update 22 October 2025
Slide 2: Forward-looking statements
Forward-looking statements This presentation includes only summary information and does not purport to be comprehensive. Forward-looking statements, targets and estimates contained herein are for illustrative purposes only and are based on management’s current views and assumptions. Such statements
Slide 3: Speakers
Speakers Presentation Joining for Q&A Aymeric Le Chatelier Chief Financial Officer Christelle Huguet Head of R&D David Loew Chief Executive Officer 3
Slide 4: Today’s highlights
Today’s highlights Financial Performance Q3 Pipeline Progression Sales Growth at CER1 IPN10200: LANTIC Phase II in aesthetics Q3: +13.7% delivering a first-in-class, long-acting clinical profile YTD: +12.1% Somatuline®: +11.7% Bylvay®: Japan approval for PFIC3 Rest of Portfolio: +12.3% Cabometyx®: E
Slide 5: Expanding our pipeline in Oncology
Expanding our pipeline in Oncology Proposed acquisition of ImCheck Therapeutics Lead clinical-stage program ICT01: first-in-class monoclonal antibody targeting BTN3A Phase I/II EVICTION1 trial ongoing: evaluating ICT01 in combination with venetoclax and azacitidine in 1L unfit AML2 1L unfit AML pati
Slide 6: Q3 & YTD sales performance
Q3 & YTD sales performance Q3 2025 YTD 2025 €m % change €m % change Oncology 624 7.0% 1,912 6.6% Rare Disease 102 109.1% 255 101.0% Neuroscience 189 9.1% 567 9.5% Total Sales 915 13.7% 2,735 12.1% Total sales growth 16.7% 12.3% excl. Somatuline® Growth at constant exchange rates 6
Slide 7: Oncology portfolio
Oncology portfolio Q3 YTD 2025 sales growth of 6.6% €868m €452m €406m €151m +11.7% +2.9% +2.2% +4.8% Solid growth in the U.S. Solid performance in Volume growth in Moderate sales growth & Europe, continued Europe reflecting Europe and in the U.S. in 1L & 2L generic lanreotide increasing market share
Slide 8: Rare Disease portfolio
Rare Disease portfolio Q3 YTD 2025 sales growth of 101.0% €135m €107m +46.4% - Strong volume growth in the Accelerated sales growth in U.S. driven by PFIC and ALGS the U.S. and in Europe indications driven by increasing uptake from new patients, switch & Increased ex-U.S. contribution market expansi
Slide 9: Neuroscience portfolio
Neuroscience portfolio Q3 YTD 2025 sales growth of 9.5% Aesthetics Therapeutics €337m €221m +12.3% +5.2% Continued strong sales Solid growth in the U.S. and growth in the U.S. and in Rest Europe of World in Ipsen’s & partner’s territories Rest of World strong growth in Q3; first half Q3 performance
Slide 10: Growing pipeline across three therapeutic areas
Growing pipeline across three Oncology Rare Disease Information shown therapeutic areas as of September 2025 Neuroscience Phase I Phase II Phase III Tazverik + R2: 2L FL SYMPHONY-1 Tovorafenib: 1L pLGG FIREFLY-21 IPN01194: solid tumors ERKi IPN01195: solid tumors RAFi Bylvay: BA BOLD Iqirvo: PBC ELS
Slide 11: IPN10200: First-in-class profile
IPN10200: First-in-class profile A differentiated long-acting recombinant molecule Phase II LANTIC Stage 1 data1 in aesthetics (Glabellar lines): • Rapid onset of action LANTIC Stage 2 & 3 • Statistically significant response to treatment at Week 42 ongoing in FHL and LCL • Substantial majority of p
Slide 12: Major upcoming milestones
Major upcoming Oncology Rare Disease Regulatory decision milestones Data readout Neuroscience 2025 2026 Fidrisertib (FALKON) FOP, Phase IIb1 Tovorafenib (FIREFLY-1)2 R/R pLGG Phase II Bylvay (BOLD) BA, Phase III Iqirvo (ELSPIRE) PBC, Phase III Dysport (C&E-BEOND) CM & EM, Phase III Information shown
Slide 13: Key takeaways
Key takeaways Executing on 2025 priorities Delivering Strong Financials • Solid double-digit sales growth momentum • Further upgraded guidance Expanding Pipeline • Ipsen to acquire ImCheck Therapeutics1 • IPN10200, a differentiated first-in-class long-acting recombinant molecule • Key further cataly
Slide 14: Questions
$IPSEN Questions 14
Slide 15: Appendix
Appendix $IPSEN
Slide 16: Currency impact YTD 2025 sales
Currency impact YTD 2025 sales Adverse impact of -2.6pts YTD 2025 sales by currency Average rate changes (YTD 2025 vs. YTD2024) Other 24,4% EUR -23% -13% -11% -6% -3% 32,6% CNY 3,4% 4,4% GBP 35,2% USD TRY: 43,38 MXN: 21,80 BRL: 6,32 AUD: 1,74 USD: 1,12 16
Slide 17: Oncology
Oncology Key ongoing clinical-trial highlights Primary Trial Indication Patients Design Status Endpoint(s) Tazverik Tazverik + R2 SYMPHONY-1 R/R FL 612 or PFS Recruiting1 Phase III placebo + R2 NCT04224493 tovorafenib tovorafenib FIREFLY-2 1L pLGG 400 or ORR Recruiting1,2 Phase III chemotherapeutic
Slide 18: Rare Disease
Rare Disease Key ongoing clinical-trial highlights Primary Trial Indication Patients Design Status Endpoint(s) Bylvay Placebo Time from randomization to BOLD BA 254 or first occurrence of liver Active, not recruiting1 Phase III Bylvay transplant, or death NCT04336722 Iqirvo Placebo Percentage of par
Slide 19: Neuroscience – IPN10200
Neuroscience – IPN10200 Key ongoing clinical-trial highlights Primary Trial Indication Patients Design Status Endpoint(s) Dose escalation & dose- Stage 1 : Moderate finding versus Active, not recruiting1 to severe GL Dysport or placebo IPN10200 Response - composite LANTIC Stage 2 : Moderate response
Slide 20: Neuroscience - Dysport
Neuroscience - Dysport Key ongoing clinical-trial highlights Primary Trial Indication Patients Design Status Endpoint(s) Dysport Change from baseline in C-BEOND Two dosing regimes of Chronic migraine 720 monthly migraine days Recruiting1,2 Phase III Dysport or placebo (MMD) NCT06047444 Dysport Chang
Slide 21: Investor Relations
Investor Relations Henry Wheeler Khalid Deojee Vice President Investor Relations Senior Manager Investor Relations +33 7 64 47 11 49 +33 6 66 01 95 26 henry.wheeler@ipsen.com khalid.deojee@ipsen.com 21
Slide 22: Thank You
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