Slide 1: Nanoform – Q4 and FY2025 Report
Nanoform – Q4 and FY2025 Report Conference call and webcast for investors and analysts February 26th, 2026
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This presentation contains forward-looking statements, including, without limitation, statements regarding Nanoform’s strategy, business plans and focus. The words may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” believe,” “est
Slide 3: Slide 3
Slide 4: Breakthrough Strategy
Breakthrough Strategy Presented at CMD Dec 16th, 2025 Breaking ‘The Wall’ in 2 Places: Small & Large Molecules Nanoform.com | @nanoform
Slide 5: Strategy 2026-2030: Nanoform technologies break the wall
Nanoform Strategy 2026-2030 Nanoform technologies break the wall CESS® for small molecules BioLine for biologics Clinical data with several major Patients treated with Nanoformed clients support nanoforming as a medicines with 5 years significant technology in the major industrial shift from IV to S
Slide 6: Nanoform midterm business targets 2030
Nanoform midterm business targets 2030 3 Income* nanoformed growth EBIT margin medicines > 50% CAGR > 30% by 2030 launched 2026-2030 by 2030 * Revenue + other operating income (milestones, fees, royalties, profit shares etc.) Nanoform.com | @nanoform 6
Slide 7: Significant events
Significant events • CESS® technology scale up by a factor of 20x • Distributor agreement with Ageing & Life Science Corp. signed • Major US global pharma company signed • Finnish Medicines Agency (FIMEA) conducted a two-day inspection at Nanoform's facilities • FIMEA filing for GMP certificate for
Slide 8: Nanoform near-term business targets 2026
Nanoform near-term business targets 2026 I Cash burn below EUR 10m II First marketing authorization application for a nanoformed medicine submitted III Increased number of non-GMP and GMP projects signed in 2026 To sign development and license/commercial supply agreements on several IV product kerne
Slide 9: Financials
Nanoform Breaker Slide Financials Option 2 CFO Albert Hæggström Nanoform.com | @nanoform 9
Slide 10: Nr of proposals sent jumped in 2025
Nr of proposals sent jumped in 2025, early indicator that difficult industry conditions for 4th year in a row is ending? Nanoform.com | @nanoform 10 10
Slide 11: Revenue, other income continues to grow, EBITDA improves
Revenue, other income continues to grow, EBITDA improves Nanoform.com | @nanoform 11 11
Slide 12: Improvement in cash burn continued, target for 2026 < EUR 10m
Improvement in cash burn continued, target for 2026 < EUR 10m ▪ At the end of 2025, Nanoform had EUR 24m in cash ▪ Target for 2026: cash burn < EUR 10m - no significant milestones included ▪ 2026 cost savings from change negotiations EUR 5-6m Nanoform.com | @nanoform 12
Slide 13: Commercial
Nanoform Breaker Slide Commercial Option 2 CCO Christian Jones Nanoform.com | @nanoform 13
Slide 14: Nanoform commercial highlights – growth on multiple fronts
Nanoform commercial highlights – growth on multiple fronts 96 proposals sent, +35% y-o-y (Kernels, Asia, Europe, US, Biologics - all driving interest) Five countries signed to date for Nanoenzalutamide commersialization, more to come Nanoencorafenib outlicensed and BRAFMed Lda established Asia expan
Slide 15: Nanoenzalutamide dossier submission
Nanoenzalutamide dossier submission Nanoform.com | @nanoform 15
Slide 16: Product Kernels & Biologics
Nanoform Breaker Product Kernels & Biologics Slide Option CDO Peter Hänninen2 Nanoform.com | @nanoform 16
Slide 17: Product Kernel overview
Nanoform Product Kernel overview* Nanoform at Nanoform Product Kernels Nanoform Pre-Clinical (non-GMP) Nanoform Clinical (GMP) Market Expected Nanoform Development Targeted Pre- Dosage form PoP* / Delivery route First cGMP Phase 1 / Pilot Pivotal - final - First Dossier Earliest possible Originator
Slide 18: A large biologics market is forming in subcutaneous delivery of monoclonal antibodies
A large biologics market is forming in subcutaneous delivery of monoclonal antibodies ▪ Subcutaneous delivery will become the dominant standard (>50%) for new and marketed biologics. ▪ Suspension formulations enable high drug concentrations → lower injection volumes, making them a preferred choice.
Slide 19: Subcutaneously administered Nanotrastuzumab matches performance of Herceptin HYLECTA in minipig study
Subcutaneously administered Nanotrastuzumab matches performance of Herceptin HYLECTATM in minipig study • Preclinical results compared Nanotrastuzumab, a hyaluronidase-free, non- aqueous nanoparticle suspension of trastuzumab for subcutaneous delivery, with Herceptin HYLECTATM. • In a 21-day Götting
Slide 20: Halozyme Dominated Exclusivity Matrix Makes Biologics Developers Thirsty for Alternatives
Halozyme Dominated Exclusivity Matrix Makes Biologics Developers Thirsty for Alternatives Target Receptor Acumen Alexion/AZ Amgen Argenx BMS Lilly JnJ Merck Novartis Regeneron Roche Takeda ViiV OTHERS Amyloid A4 protein Halozyme 4 C2 Halozyme 1 C5 Halozyme 10 CD20 Halozyme 8 CD38 Halozyme 12 EGFRxME
Slide 21: Q&A
Q&A www.nanoform.com 21 San Diego - Chicago - New York - Lisbon - Oxford - London - Cambridge - Bordeaux - Cologne - Stockholm - Budapest - Helsinki - Tokyo Nanoform.com | @nanoform
Slide 22: Appendix
Nanoform Breaker Slide Q & A2 Option APPENDIX www.nanoform.com San Diego - New York - Lisbon - Oxford – London - Cambridge - Bordeaux - Stockholm – Budapest - Helsinki 22 Nanoform.com | @nanoform
Slide 23: Nanoform midterm business targets 2030
Nanoform midterm business targets 2030 3 Income* nanoformed growth EBIT margin medicines > 50% CAGR > 30% by 2030 launched 2026-2030 by 2030 * Revenue + other operating income (milestones, fees, royalties, profit shares etc.) Nanoform.com | @nanoform 23
Slide 24: Nanoform mid-term annual income potential by 2030
‘is Nanoform mid-term annual income potential by 2030
Slide 25: Small Molecules - Proprietary technology
Small Molecules - Proprietary technology Green technology Controlled Expansion of Supercritical Solutions - CESS® Contro lled ➢ Relatively simple process developed through combining deep knowledge in physics, chemistry, and pharma The CESS® technology platform was described in detail in the IPO pros
Slide 26: Large molecules - Proprietary technology
Large molecules - Proprietary technology Green technology Nanoforming process for biologics API = active pharmaceutical ingredient Nebulization = turns liquid into mist Ionization = particles electrically charged Nanoform.com | @nanoform 26
Slide 27: Product Kernels
Nanoform Product Kernels Nanoform internal Development partners Commercial partners Product Kernel work Originator Originator 1. Value proposition around a medicine or or candidate, called ‘Product Kernel’ Supergeneric / High value medicine Supergeneric / High value medicine company company 1. Upfro
Slide 28: Attractive revenue model with pharma and biotech customers
Attractive revenue model with pharma and biotech customers Proof of Concept / Phase Phase I – III clinical trials Drugs on the market Proof of Process Certification Non-GMP GMP GMP • Proof of concept study - assessment of • API for clinical trials are manufactured in • Drugs that have passed the tri
Slide 29: Management team: Multi-disciplinary with international merits
Management team: Multi-disciplinary with international merits CEO & Co-founder; Ph.D. (Applied physics), MBA CFO and member of the Board; B.Sc. (Economics) Edward Hæggström • Professor at the University of Helsinki, Head of Electronics Research Lab. Albert Hæggström • 20 years of finance and investi
Slide 30: Board of directors: Top executives from leading industry positions
Board of directors: Top executives from leading industry positions Miguel Calado Albert Hæggström Chairman of the Board CFO and Board Member • Previously CFO at international particle engineering CDMO • 20 years of finance and investing experience company Hovione Group • Prior roles include position
Slide 31: Contacts
CEO Edward Hæggström edward.haeggstrom@nanoform.com +358 50 317 54 93 CFO Albert Hæggström albert.haeggstrom@nanoform.com +358 40 161 4191 DIR Henri von Haartman hvh@nanoform.com +46 76866 50 11 Nanoform.com | @nanoform