Slide 1: Q2 2026 presentation
Q2 2026 presentation Webcast 20 August 2026
Slide 2: Agenda and presenters
2 Webcast 20 August 2026 Agenda and presenters • Q2 highlights • Sales regions • Product lines • Q2 financials • Strategic advancements President & CEO EVP, Group CFO VP, Head of IR • 2026 outlook Peter Halling Claus Steensen Sølje Per Plotnikof • Q&A session This presentation contains forward-looki
Slide 3: Q2 highlights
3 Webcast 20 August 2026 Q2 highlights Strong tablet sales and reduced risks lead to updated full-year revenue outlook Q2 performance Revenue DKKm • Commercial momentum sustained across regions and products 2,000 +18% 20% • EBIT up on sales growth and gross margin improvement, partly 1,500 15% offse
Slide 4: Double-digit growth in all sales regions
4 Webcast 20 August 2026 Double-digit growth in all sales regions Increased patient reach drives broad-based momentum Europe North America International markets 68% 17% 15% Double-digit growth in most markets Growth fueled by tablets in Canada Tablet growth accelerated in Japan fueled by tablets and
Slide 5: Tablets and anaphylaxis as key growth drivers
5 Webcast 20 August 2026 Tablets and anaphylaxis as key growth drivers Paediatric indications increasingly contribute to tablet growth Anaphylaxis Tablets SCIT/SLIT-drops & other products 56% 29% 15% Increasing growth contribution from Increasing shipments to China Growth boosted by Jext®; paediatri
Slide 6: Higher earnings and strong cash flow
6 Webcast 20 August 2026 Higher earnings and strong cash flow Profitability mainly driven by sales growth and favourable mix DKK million H1 2026 H1 2025 Change Gross profit DKKm +2pp 1.500 70% Revenue 3,566 3,049 +18% 1.000 65% Gross profit 2,423 2,011 500 60% Gross margin 68% 66% 0 55% Q2-25 Q3-25
Slide 7: Progress with Allergy+ execution
7 Webcast 20 August 2026 Progress with Allergy+ execution Momentum continues to build with important milestones ahead* Respiratory allergy • Paediatric tablets launched in 22 countries for HDM and in 13 for tree • Results from ACARIZAX® phase 3 in China in Q4 2026 • Results from GRAZAX® phase 3 in J
Slide 8: 2026 outlook updated
8 Webcast 20 August 2026 2026 outlook updated Strong momentum with tablet sales and improved risk profile Revenue Key assumptions DKKm Revenue Growth in l.c. • Volume-driven growth across regions and product groups 14-16%* • Double-digit growth in tablet sales 8.000 6.000 20% 15% Growth in • SCIT/SL
Slide 9: Q&A session
Q&A session
Slide 10: Upcoming events & Financial Calendar
10 Webcast 20 August 2026 Upcoming events & Financial Calendar Upcoming events: Financial Calendar: • 21 Aug Q2 roadshow, Copenhagen 20 October Silent period • 5 Sept Roadshow, Paris 17 November Nine-month interim report (Q3) • 14 Sept Morgan Stanley HC, New York • 15-16 Sept Roadshow, Canada • 15 S