Slide 1: Investors Call, Year Ended December 31, 2025
March 2026 Year Ended December 31, 2025 Investors Call NASDAQ: KMDA; TASE: KMDA.TA
Slide 2: Forward-Looking Statement
2 FORWARD - LOOKING STATEMENT This presentation is not intended to provide investment or medical advice . This presentation contains forward - looking statements, which express the current beliefs and expectations of Kamada’s management . Such statements include 2026 financial guidance ; roadmap for
Slide 3: 2025 Continuing the Growth
3 2025 CONTINUING THE GROWTH YoY DOUBLE DIGIT REVENUE AND PROFITABILITY INCREASE Declared cash dividend of $0.25 per share (totaling approximately $14.4M) payable on April 6, 2026, pursuant to an adopted dividend policy GROSS PROFIT REVENUE 9% 2024 $70.0 2025 $ 76.4 12% 2024 $161.0 2025 $ 180.5 Adj.
Slide 4: Annual Double-Digit Growth Trajectory
4 ANNUAL DOUBLE - DIGIT GROWTH TRAJECTORY 6 6% 18 14% 24 17 % 34 21% 42 23% 50 - 53 ~25% 2021 2022 2023 2024 2025 2026 104 129 142 161 180 200 - 205 2021 2022 2023 2024 2025 2026 ADJUSTED EBITDA US$M 53% CAGR 2026 represents annual guidance 2026 represents annual guidance REVENUES US$M 14 % CAGR 202
Slide 5: Delivering on Our Commitments
DELIVERING ON OUR COMMITMENTS 5
Slide 6: Kamada's Roadmap for Continued Annual Double-Digit Profitable Growth
6 KAMADA ’ S ROADMAP FOR CONTINUED ANNUAL DOUBLE - DIGIT PROFITABLE GROWTH Specialty Plasma Therapies Portfolio of 6 FDA - approved products marketed in over 30 territories In - licensing Partnerships Commercialization & Distribution of third parties’ biopharmaceutical products in Israel & MENA Plas
Slide 7: A Global Leader in Anti-Rabies Immune Globulin (HRIG)
$ 180 M Total estimated U.S HRIG market size Only anti - Rabies IgG product with FDA approved label confirming safety and effectiveness in children KEDRAB /KAMRAB $ 54 M 2025 U.S. Revenues; $ 90 M Minimum sales expected in 2026 - 2027 Only 2 FDA approved products Leading HRIG in Canada, Australia, I
Slide 8: GLASSIA: Liquid AAT for AATD
8 Licensed to Takeda in the USA, Canada, Australia and New Zealand Commencing in 2022 , Takeda is paying Kamada royalties, at a rate of 6 % through 2040 ; Projected royalties in the range of $ 10 M to $ 20 M per year Outside the Takeda territories, GLASSIA is marketed by Kamada through a network of
Slide 9: CYTOGAM: CMV Immune Globulin
9 CYTOGAM $ 17 M 2025 Revenues CMV IMMUNE GLOBULIN Growth To be supported by new clinical data demonstrating product ’ s unique properties to HCPs CYTOGAM is the only plasma - derived IgG approved in the U.S. and Canada for prophylaxis of CMV disease after Solid Organ Transplantation. CMV is the lea
Slide 10: Distribution Segment Growth
10 DISTRIBUTION SEGMENT GROWTH More than 25 products exclusively licensed from leading international pharmaceutical companies, marketed in the Israeli market EXCLUSIVE DISTRIBUTOR IN ISRAEL FOR LEADING BIOPHARMACEUTICAL COMPANIES EXPANDING THE DISTRIBUTION SEGMENT MODEL TO THE MENA REGION Key areas
Slide 11: Kamada Plasma: Expanding Vertical Integration & Revenue Growth
11 KAMADA PLASMA EXPANDING VERTICAL INTEGRATION & REVENUE GROWTH Collecting hyper - immune plasma for our specialty IgG products and normal source plasma (NSP) to support revenue growth Operating three plasma collection centers in Texas; Houston, San Antonio and Beaumont Houston and Beaumont FDA app
Slide 12: M&A Transactions
12 M&A TRANSACTIONS AIMING TO SECURE NEW BUSINESS DEVELOPMENT AND M&A TRANSACTIONS LEVERAGING OVERALL FINANCIAL STRENGTH AND COMMERCIAL INFRASTRUCTURE Screening strategic business development opportunities to identify potential acquisition or in - licensing to accelerate long - term growth Focusing
Slide 13: Record 2025 Financial Results Details
13 Adjusted EBITDA is defined as net income, plus ( i ) tax expense, (ii) financial income (expense), net, (iii) depreciation and amortization ; and (iv) non - cash share - based compensation expenses RECORD 2025 FINANCIAL RESULTS DETAILS Q 4 / 24 Q4/25 2024 2025 US $ M Increase driven by VARIZIG® &
Slide 14: Kamada - A Global Biopharmaceutical Company
KEDRAB® CYTOGAM® HEPGAM B® VARIZIG® WINRHO® GLASSIA® KAMADA - A GLOBAL BIOPHARMACEUTICAL COMPANY 6 FDA - Approved Products 14 % CAGR (from 2021 ) $ 200 - 205 M 1 2026 Revenues Guidance $ 50 - 53 M 1 2026 Adj. EBIDTA Guidance 4 Growth Drivers A LEADER IN SPECIALTY PLASMA THERAPIES, WITH A PORTFOLIO O
Slide 15: Thank You
THANK YOU www.kamada.com NASDAQ: KMDA; TASE: KMDA.TA
Slide 16: Non-IFRS Measures – Adjusted EBITDA
16 NON - IFRS MEASURES – ADJUSTED EBITDA Adjusted EBITDA is defined as net income, plus ( i ) tax expense, (ii) financial income (expense), net, (iii) depreciation and amortization ; and ( iv ) non - cash share - based compensation expenses Q4/24 Q4/25 2024 2025 US $ M 3.8 3.6 14.5 20.2 NET PROFIT (
Slide 17: FDA-Approved Specialty Plasma Products
17 6 FDA - APPROVED SPECIALTY PLASMA PRODUCTS KEY FOCUS ON TRANSPLANTS & RARE CONDITIONS For Important Safety Information, visit www.Kamada.com CYTOGAM® [Cytomegalovirus Immune Globulin (Human)] Prophylaxis of CMV disease associated with transplants GLASSIA® [Alpha 1 - Proteinase Inhibitor (Human)]