Slide 1: Q226 Financial Results
Q226 Financial Results August 4, 202 6 10 December 2 024
Slide 2: Forward-Looking Statements
Forward-Looking Statements Statements included in this presentation that are not historical in nature are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Gilead cautions readers that forward-looking statements are subject to certain risks and un
Slide 3: Contents
Contents Key Takeaways 4-5 Commercial Results 6-14 Pipeline Updates 15-20 Financial Results 21-27 Appendix 29-36 3
Slide 4: Q226 Key Takeaways
Q226 Key Takeaways D ani el O’ D ay Chair man & Ch ie f Ex ecu t ive Office r
Slide 5: Gilead Q226 - Key Takeaways
Gilead Q226 - Key Takeaways • Total Q226 Base Business up 10% YoY; strongest Q2 growth since 2023, driven by HIV, Trodelvy and Livdelzi Business • Total Q226 HIV up 12% YoY; PrEP >$1B, up 101% YoY 1 Performance • Q226 Trodelvy up 26% YoY; Liver up 10% YoY, with Livdelzi up 115% • FY26 Base Business
Slide 6: Commercial Results & Market Dynamics
Commercial Results & Market Dynamics Joh ann a Merci er Chief Commer cial & C orp or ate Af f air s Of fi cer
Slide 7: Strong Base Business Performance in Q226
Strong Base Business Performance in Q226 $5.7B +12% YoY $7.6B Total Product Sales excluding Veklury +10% YoY, +12% QoQ $23M -81% YoY $7.6B Total Product Sales +8% YoY, +10% QoQ $457M +26% YoY $417M -14% YoY $5.7B HIV Product Sales +12% YoY, +13% QoQ Liver Product Sales $877M $877M +10% YoY +10% YoY,
Slide 8: HIV: Poised for Strongest Growth Since 2019
HIV: Poised for Strongest Growth Since 2019 Product Sales ($M) $5.7B +12% Q226 Sales Q226 Growth YoY • YoY driven by higher average realized price and higher demand • QoQ driven by inventory build and higher average realized price • 2026 HIV growth expectations increased to 9-10% YoY, from +8% YoY p
Slide 9: HIV Treatment: Leadership in Dynamic Market
HIV Treatment: Leadership in Dynamic Market BIC/LEN Daily Oral Q226 sales: $3.8B; +7% YoY, +12% QoQ PDUFA August 27, 2026 #1 • YoY driven by higher average 5-6% • Combines bictegravir, the most prescribed integrase inhibitor, with Regimen for naïve & realized price due to channel mix, PWH on Complex
Slide 10: Quarterly HIV PrEP Sales Exceed $1B for First Time
Quarterly HIV PrEP Sales Exceed $1B for First Time +101% ~14% PrEP Sales YoY U.S. PrEP Market Growth YoY Q226 sales: PrEP Q226 sales*: $232M; +40% QoQ $801M; +60% YoY, +23% QoQ • YoY driven by higher average realized price and • Leader in switch across all PrEP options (oral and LAI) higher demand •
Slide 11: Liver Disease: Livdelzi Leading in 2L PBC
Liver Disease: Livdelzi Leading in 2L PBC Product Sales ($M) $167M >50% Q226 Livdelzi Sales 2L PBC U.S. Market Share • Livdelzi launch momentum continues (+115% YoY, +26% QoQ) and remains leading 2L PBC regimen • Total Liver +10% YoY driven by higher demand across PBC, HBV and HDV, offset by lower H
Slide 12: Trodelvy: Strength Across Breast Cancer Portfolio
Trodelvy: Strength Across Breast Cancer Portfolio Product Sales ($M) +26% #1 YoY growth in Q226 2L mTNBC1 share • +26% YoY and +13% QoQ primarily due to increased demand across metastatic breast cancer indications in all regions • Approved in 1L mTNBC across PD-L1 status in U.S. in June 2026 Note: Y
Slide 13: Cell Therapy: Preparing for Anito-Cel Launch
Cell Therapy: Preparing for Anito-Cel Launch Product Sales ($M) $417M Q226 Cell Therapy Sales >36K >600 Patients Treated to Date ATCs Globally • -14% YoY reflecting continued competitive headwinds across regions; +2% QoQ driven by increased U.S. and Rest of World demand for Yescarta, partially offse
Slide 14: Most Robust Launch Pipeline in Gilead's History
Most Robust Launch Pipeline in Gilead’s History APPROVED NEWLY APPROVED August 2026 December 2026 February 2027 2027 2L PBC HDV BIC/LEN Anito-cel HIV PrEP ISL/LEN Daily VS PWH 4L+ R/R MM Weekly Oral Weekly VS PWH HIV PrEP 1L PD-L1+ mTNBC Twice-Yearly Inj. 1L PD-L1- mTNBC Note: This is illustrative a
Slide 15: Pipeline Updates
Pipeline Updates D i e t m a r B e r g e r, M D , P h D C hie f Med ic al O ff ic er
Slide 16: Lenacapavir Unlocks Broad HIV Pipeline
Lenacapavir Unlocks Broad HIV Pipeline New Disclosure 2026 2027 U.S. Launch EC Decision Daily Oral Bictegravir + Lenacapavir August 2026 2027 Primary Endpoints Met Launch Islatravir + Lenacapavir June 2026 2027 Weekly Oral Lenacapavir Lenacapavir Ph2 FPI Launch Treatment + GS-3242 + GS-1720 2H 2026
Slide 17: Liver Disease: Advancing Options for High Unmet Need
Liver Disease: Advancing Options for High Unmet Need First-and-only FDA & EC approved treatment for chronic HDV infection • EC conditional approval in July 2020 and full EU marketing authorization in July 2023 • FDA accelerated approval in May 2026 Leading FDA & EC approved treatment for 2L PBC in i
Slide 18: Oncology: Advancing Leading ADC Pipeline
Oncology: Advancing Leading ADC Pipeline Phase 1 Phase 2 Phase 3 Approved 2L+ mTNBC 1L mTNBC FDA Approval in 1L mTNBC High Risk Early TNBC P3 ASCENT-GYN Update Expected 2H 2026 Pre-treated HR+/HER2- mBC 2L+ Advanced or Recurrent Endometrial Cancer 2L Extensive Stage Small Cell Lung Cancer GS-8824 (P
Slide 19: Cell Therapy: Upcoming Launch & Long-Term Innovation
Cell Therapy: Upcoming Launch & Long-Term Innovation Upcoming Anito-Cel Launch In Vivo Platform in Development Large Unmet Need in Multiple Myeloma Differentiated to Address Class Challenges • ~3.5B CAR T Addressable Market in 4L+ R/R MM • Arcellx’s small D-Domain binder bypasses payload challenges
Slide 20: Key 2026 Milestones
Key 2026 Milestones Completed Completed1 On Track 1H26 Program Trial Indication Update Status ISLEND-1 QW Oral HIV Tx Phase 3 Update ISL/LEN ISLEND-2 QW Oral HIV Tx Phase 3 Update Hepcludex MYR301 HDV FDA Decision 2H26 Program Trial Indication Update Status BIC/LEN ARTISTRY-1 & -2 QD Oral HIV Treatm
Slide 21: Financial Results
Financial Results Andrew Dickins on Chief Financial Officer
Slide 22: Q2 2026 Base Business Sales
Q2 2026 Base Business Sales Product Sales ($M) $7,627 Base Business Sales +10% YoY and +12% QoQ $7,054 Base • YoY primarily driven by HIV products, Trodelvy and Business Livdelzi partially offset by lower Cell Therapy and HCV +10% products • QoQ reflects growth across core therapeutic areas $6,934 $
Slide 23: Q2 2026 Non-GAAP Data
Q2 2026 Non-GAAP Data YoY Q225 Q226 Change Non-GAAP Operating Expenses In millions, except percentages and per share amounts COGS $922 $999 8% • R&D relatively flat YoY, reflecting lower Oncology clinical study activity, offset by Product Gross Margin 87% 87% Flat higher R&D costs associated with ou
Slide 24: Q2 2026 Illustrative Non-GAAP EPS
Q2 2026 Illustrative Non-GAAP EPS Q2 acquisitions & other revenues Q226 Illustrative Non-GAAP EPS +13% YoY • Excluding $9.02 per share impact from Q2 acquisitions as well as non-recurring other revenues, illustrative non- $2.01 $2.27 ~$9.02 GAAP EPS was $2.27 +13% YoY • Illustrative Non-GAAP EPS YoY
Slide 25: FY2026 Updated Guidance
FY2026 Updated Guidance 10 February 2026 7 May 2026 4 August 2026 Base Business Guidance +6% to +7% YoY Total Product Sales $29.6B - $30.0B $30.0B - $30.4B $30.1B - $30.4B • Raised Base Business sales guidance by $350M at midpoint compared to May Product Sales ex-Veklury $29.0B - $29.4B $29.4B - $29
Slide 26: FY2026 Illustrative Non-GAAP EPS Guidance
FY2026 Illustrative Non-GAAP EPS Guidance Higher base business sales Lower Veklury sales Q2 acquisitions Q2 acquisitions ~$0.20 to $0.25 ~$(0.20) & other revenues Illustrative August EPS Guidance • Raised $0.05 on the bottom end due to higher base business sales, partially offset by lower Veklury co
Slide 27: Ongoing Commitment to Disciplined Capital Deployment
Ongoing Commitment to Disciplined Capital Deployment Capital Allocation Priorities ~$1B Continue to invest in our business and R&D pipeline while Dividends Paid in Q226 managing expenses Continue ordinary course partnerships and business development transactions $355M In Shares Repurchased in Q2261
Slide 28: Q&A
Daniel O’Day Johanna Mercier Dietmar Berger, MD, PhD Chairman & Chief Commercial & Chief Medical Officer Q&A Chief Executive Officer Corporate Affairs Officer Andrew Dickinson Cindy Perettie Chief Financial Officer EVP & Head of Kite
Slide 29: Robust Pipeline with Upcoming Catalysts
Robust Pipeline with Upcoming Catalysts 53 Clinical programs1 4 Clinical opt-in assets PHASE 1 PHASE 2 PHASE 3, FILED, or APPROVED SG SG + pembro SG + pembro 1L mTNBC (PD-L1-) 1L mTNBC (PD-L1+) adjuvant TNBC SG SG Anito-cel 2L mEC SCLC 4L R/R MM Oncology Axi-cel Axi-cel Anito-cel 1L HR LBCL 2L+ HR F
Slide 30: Viral Diseases Pipeline 1/2
Viral Diseases Pipeline 1/2 New listing in Q2’26 Breakthrough Therapy Designation Q2’26 Updates P PRIME Designation Clinical Program Indication Phase 1 Phase 2 Phase 3 Filed Q2’26 Updates HIV Prevention Yeztugo ® (lenacapavir) HIV PrEP LAO sNDA submitted sNDA Submitted Lenacapavir (PURPOSE 365) HIV
Slide 31: Viral Diseases Pipeline 2/2
Viral Diseases Pipeline 2/2 New listing in Q2’26 Breakthrough Therapy Designation Q2’26 Updates P PRIME Designation Clinical Program Indication Phase 1 Phase 2 Phase 3 Filed Q2’26 Updates HDV Hepcludex® (MYR301) HDV P BLA and MAA Approved FDA approval granted HDV pre-S1 nAb (GS-4321) HDV HBV Cure HB
Slide 32: Cell Therapy Pipeline
Cell Therapy Pipeline New listing in Q2’26 Breakthrough Therapy Designation Q2’26 Updates P PRIME Designation R RMAT Designation Clinical Program Indication Phase 1 Phase 2 Phase 3 Filed Q2’26 Updates Lymphoma Axicabtagene ciloleucel (ZUMA-22) 2L+ HR FL Axicabtagene ciloleucel (ZUMA-23) 1L HR LBCL C
Slide 33: Oncology Pipeline 1/2
Oncology Pipeline 1/2 New listing in Q2’26 Breakthrough Therapy Designation Q2’26 Updates P PRIME Designation Clinical Program Indication Phase 1 Phase 2 Phase 3 Filed Q2’26 Updates Breast Sacituzumab govitecan-hziy (ASCENT-03) 1L mTNBC (PD-L1-) sBLA and MAA approved FDA approval granted Sacituzumab
Slide 34: Oncology Pipeline 2/2
Oncology Pipeline 2/2 New listing in Q2’26 Breakthrough Therapy Designation Q2’26 Updates P PRIME Designation Clinical Program Indication Phase 1 Phase 2 Phase 3 Filed Q2’26 Updates Advanced Cancers Efarindodekin Alfa1 Advanced Cancers P1 → P2 5T4 ADC (GS-8823)2 Advanced Cancers Acquired from Tubuli
Slide 35: Inflammatory Diseases Pipeline
Inflammatory Diseases Pipeline New listing in Q2’26 Breakthrough Therapy Designation Q2’26 Updates P PRIME Designation Clinical Program Indication Phase 1 Phase 2 Phase 3 Filed Q2’26 Updates Lupus Edecesertib (COSMIC) Lupus Inflammatory Bowel Disease Tilpisertib fosmecarbil (PALEKONA) IBD Emvistegra
Slide 36: GAAP to Non-GAAP Reconciliation of Outstanding Adjusted Debt and Adjusted EBITDA
GAAP to Non-GAAP Reconciliation of Outstanding Adjusted Debt and Adjusted EBITDA As of in billions where applicable June 30, 2025 Sep 30, 2025 Dec 31, 2025 Mar 31, 2026 Jun 30, 2026 Total Debt, net $24.95 $24.94 $24.94 $22.17 $26.25 Debt Discounts, Premiums and Issuance Costs 0.18 0.18 0.17 0.17 0.1