Slide 1: Roche Q1 2026 earnings presentation
Slide 2: This presentation contains certain forward-looking statements
This presentation contains certain forward-looking statements. These forward-looking statements may be identified by words such as ‘believes’, ‘expects’, ‘anticipates’, ‘projects’, ‘intends’, ‘should’, ‘seeks’, ‘estimates’, ‘future’ or similar expressions or by discussion of, among other things, str
Slide 3: Roche Q1 2026 sales
Roche Q1 2026 sales Basel, 23 April 2026
Slide 4: Group
Group Thomas Schinecker Chief Executive Officer
Slide 5: Performance Outlook
Performance Outlook
Slide 6: Q1 2026: Strong Group sales growth at +6% at CER
Q1 2026: Strong Group sales growth at +6% at CER Q1 results at CER ▪ Group sales growth +6%, +7% for Pharma and +3% for Diagnostics (still impacted in H1 by the healthcare pricing reforms in China) ▪ Weaker and earlier flu season impacting Xofluza and Diagnostics respiratory sales ▪ LOE impact of ro
Slide 7: Q1 2026: Consistent strong growth
Q1 2026: Consistent strong growth Diagnostics still impacted in H1 2026 by the healthcare pricing reforms in China Group sales growth %CER +15% +10% +9% +9% +9% +9% +8% +8% +6% +6% +6% +5% +2% +2% +1% +1% 0% COVID-19 pandemic Pandemic phase out Post-pandemic Base business: +1%* Base business: +8%* B
Slide 8: Q1 2026: Strong Pharma sales driving Group growth
Q1 2026: Strong Pharma sales driving Group growth Diagnostics impacted by healthcare pricing reforms in China and low flu season sales YTD Mar YTD Mar 2026 2025 Change in % CHFbn CHFbn CHF CER Pharmaceuticals Division 11.5 11.9 -4 7 Diagnostics Division 3.3 3.5 -7 3 Roche Group 14.7 15.4 -5 6 CER: C
Slide 9: Key growth drivers of the Roche portfolio
Key growth drivers of the Roche portfolio All segments delivering growth 2026 sales Diagnostics: Pathology Lab with strong +3% (CHFbn, YoY CER growth) growth; Core Lab growing despite China Phesgo: Conversion ongoing; HER2+ BC franchise healthcare pricing reforms to peak in 2026 with strong tail Tec
Slide 10: Expanding NVIDIA collaboration with large-scale AI factory
Expanding NVIDIA collaboration with large-scale AI factory Accelerating development of therapeutics and diagnostics Strategic investments into AI Powering solutions across the entire value chain Molecular design & discovery Lab-in-the-Loop: Foundation models for de novo molecule generation in silico
Slide 11: Performance Outlook
Performance Outlook
Slide 12: Substantial pipeline progress across TAs since start of the year
Substantial pipeline progress across TAs since start of the year 6 pivotal Phase III readouts, including 2 NMEs, remaining in 2026 Key regulatory milestones Key Phase III readouts Phase II readouts in obesity giredestrant filing giredestrant in 1L ER+/HER2- mBC enicepatide (CT-388) Ph III initiated
Slide 13: Up to 19 NMEs with launch potential by 2030
Up to 19 NMEs with launch potential by 2030 Two NMEs with Ph III readouts in 2026 (divarasib in NSCLC and sefaxersen in IgAN) afimkibart 0.5-1bn peak sales 1-2bn peak sales enicepatide** IBD, AtD, RA, MASH >3bn peak sales Obesity +/- T2D 2-3bn peak sales sefaxersen* acmopatide*** IgAN T1D with BMI ≥
Slide 14: Roche Diagnostics: Key technology launches driving future growth
Roche Diagnostics: Key technology launches driving future growth AXELIOS sequencing solution launching in summer 2026 Key platform launches Selected assays cobas Lp(a) Gen 2 Near Patient Care Core Lab Molecular Lab Cardiovascular risk Elecsys hs-TnT Gen 6 Acute coronary syndrome Accu-Chek SmartGuide
Slide 15: 2026 guidance confirmed
2026 guidance confirmed LOE impact of roughly CHF 1bn expected for 2026 Group sales growth1 Mid single digit sales growth Core EPS growth1 High single digit Core EPS growth Dividend outlook Further increase dividend in Swiss francs 1. At CER: Constant exchange rates (avg. full year 2025); LOE: Loss
Slide 16: Finance
Finance Alan Hippe Chief Financial Officer
Slide 17: Q1 2026: Group growth +6% at CER
Q1 2026: Group growth +6% at CER Business growth exceeding impact of healthcare pricing reforms in China and LOE +6% at CER CHFm +148 +842 -63 -60 -1,585 15,440 14,722 Q1 2025 Pharma LOE Dia China Fx Q1 2026 (excl. LOE) (excl. China) healthcare pricing reforms CER: Constant exchange rates (avg. full
Slide 18: Exchange rate impact on sales growth
Exchange rate impact on sales growth Negative impact mainly driven by the USD, JPY, CNY (APAC), EUR, ARS (LATAM) and TRY (Other) -0.5%p -1.3%p +6.0% CER CHF sales growth sales growth 2026 -6.7%p 2026 vs. vs. 2025 2025 -4.7% -0.5%p -0.8%p -0.9%p CER EUR APAC USD LATAM JPY Other CHF CER: Constant exch
Slide 19: Q1 2026: Currency impact and outlook
Q1 2026: Currency impact and outlook USD / CHF Assumed avg. YTD 2026 Assuming the 31 March 2026 exchange rates remain stable -13% -8% -6% -4% 0.90 until the end of 2026. 0.86 0.84 0.83 2026 impact1 is expected to be (%p): 0.78 0.79 0.80 Q1 Q2 Q3 Q4 0.79 Sales -11 -4 -1 0 0.79 0.77 0.79 0.80 0.80 0.8
Slide 20: 2026 guidance confirmed
2026 guidance confirmed LOE impact of roughly CHF 1bn expected for 2026 Group sales growth1 Mid single digit sales growth Core EPS growth1 High single digit Core EPS growth Dividend outlook Further increase dividend in Swiss francs 1. At CER: Constant exchange rates (avg. full year 2025); LOE: Loss
Slide 21: Pharmaceuticals Division
Pharmaceuticals Division Teresa Graham CEO Roche Pharmaceuticals
Slide 22: Q1 2026: Pharmaceuticals sales
Q1 2026: Pharmaceuticals sales Strong growth in US, International and Japan YTD Mar YTD Mar 2026 2025 Change in % CHFm CHFm CHF CER Pharmaceuticals Division 11,469 11,949 -4 7 United States 5,693 6,224 -9 5 Europe 2,234 2,320 -4 -1 Japan 649 671 -3 14 International 2,893 2,734 6 ##### 16 CER: Consta
Slide 23: Q1 2026: Diversified set of key growth drivers
Q1 2026: Diversified set of key growth drivers Xolair, Phesgo, Hemlibra, Vabysmo, Ocrevus and Polivy driving growth; Xofluza impacted by weak flu season Xolair 26% Phesgo 27% Hemlibra 13% Vabysmo 13% Ocrevus 6% Polivy 26% Evrysdi 19% Alecensa 12% Columvi 77% Itovebi 307% Tecentriq 4% MabThera/Rituxa
Slide 24: Oncology growing +3% at CER
Oncology/Hematology Oncology growing +3% at CER Giredestrant: lidERA US filing using PRV achieved; evERA PDUFA set for 18th Dec Q1 update Itovebi ▪ Phesgo: Global conversion rate climbing to 55%* CHF 52m / +307% Others CHF 136m / -5% ▪ Perjeta: Conversion to Phesgo ongoing Avastin CHF 224m / -9% ▪ K
Slide 25: Polivy US patient share in 1L DLBCL expands to 39%
Oncology/Hematology Polivy US patient share in 1L DLBCL (IPI 0-5) expands to 39% US filing for Lunsumio in 2L+ DLBCL (SUNMO) achieved Q1 update Lunsumio Columvi CHF 37m / +101% ▪ Hemlibra: Continued global growth; increasing adoption in non- CHF 95m / +77% PiaSky inhibitor patients MabThera/Rituxan
Slide 26: Ocrevus: Global growth driven by SC
Neurology Ocrevus: Global growth driven by SC Fenebrutinib: Positive Ph III (FENhance 1&2) in RMS presented at AAN Q1 update Elevidys ▪ Ocrevus: ~24,000 patients on Ocrevus SC globally CHF 61m / +54% Others CHF 90m / +3% ▪ US: ~60% of SC volume coming from community practices Enspryng CHF 96m / +31%
Slide 27: Fenebrutinib: Potential to become FIC in RMS and PPMS
Neurology Fenebrutinib: Potential to become FIC in RMS and PPMS Totality of data from all three Ph III studies will be submitted to regulatory authorities Ph III (FENhance 1&2) in RMS results1 Primary endpoint: Adjusted ARR Secondary endpoint: cCDP12 Favors fenebrutinib Favors teriflunomide ▪ Fenebr
Slide 28: Enspryng has potential to be the first approved treatment in MOGAD
Neurology Enspryng has potential to be the first approved treatment in MOGAD MOGAD represents ~0.5bn peak sales opportunity for Enspryng Disability in MOGAD driven by relapses IL-6 signaling implicated in pathophysiology of MOGAD IL-6 signaling blockade has the potential to lower pathogenic antibody
Slide 29: Enspryng: Positive Ph III METEOROID results in MOGAD
Neurology Enspryng: Positive Ph III METEOROID results in MOGAD First randomized controlled study with positive results in MOGAD Ph III (METEOROID) in MOGAD results1 100 87.3% 84.3% Placebo (n=64) Satralizumab (n=68) Proportion relapse-free (%) Censored 80 60 Number of participants with an 66.5% adju
Slide 30: Immunology growth driven by strong Xolair performance
Immunology Immunology growth driven by strong Xolair performance Gazyva: Positive Ph III results in MN (MAJESTY); US & EU filing for SLE and US filing for INS achieved Q1 update ▪ Xolair: Growth driven by food allergy Others CHF 192m / -10% Actemra ▪ Biosimilar launch expected H2 2026 CHF 534m / -4%
Slide 31: Gazyva: Potential to become new SoC in SLE
Immunology Gazyva: Potential to become new SoC in SLE Four positive Ph III readouts since 2024, including positive Ph III (MAJESTY) in MN Ph III (ALLEGORY) in SLE results1 Development program SLE disease activity: Adjusted treatment difference (%p) Adjusted treatment difference2 Indication Ph I Ph I
Slide 32: Vabysmo expanding global market share
Ophthalmology Vabysmo expanding global market share Updated FDA label in RVO adds flexibility for treatment beyond 6 months Q1 update Susvimo Others ▪ Vabysmo: Continued global market share gains CHF 4m / +138% CHF 26m / -45% ▪ US: Returning to growth ▪ US: >60% of patient starts are naïve ▪ EU: Str
Slide 33: CVRM pipeline progressing
Cardiovascular, Renal & Metabolism CVRM pipeline progressing Positive Ph II (ZUPREME-1) for petrelintide; Ph III (ENITH-1/2) initiated for enicepatide (CT-388) Clinical development Q1 update ▪ Petrelintide in obesity w/o T2D: Positive Ph II (ZUPREME-1) in obesity Indication Asset Ph I Ph II Ph III ▪
Slide 34: 2026: Key newsflow outlook
2026: Key newsflow outlook* Giredestrant + everolimus (post CDKi ER+/HER2- mBC) filed in US Compound Indication Milestone giredestrant adjuvant ER+/HER2- early BC US/EU filing (US) giredestrant + everolimus post CDKi ER+/HER2- mBC EU filing/US approval Gazyva SLE US/EU filing (US&EU) Gazyva INS US/E
Slide 35: Updated 2025-30 consensus outlook
Updated 2025-30 consensus outlook* Long-term growth outlook improved; significant upside potential remains on the late-stage pipeline Biosimilar gap (25-30) Consensus sales growth (25-30) Potential upside CHF Vabysmo 2.1bn Itovebi 1.1bn Assets with low to no coverage in Columvi 0.8bn current sell si
Slide 36: Diagnostics Division
Diagnostics Division Matt Sause CEO Roche Diagnostics
Slide 37: Q1 2026: Diagnostics sales
Q1 2026: Diagnostics sales Diagnostics growing at +3%, impacted by China healthcare pricing reforms YTD Mar YTD Mar 2026 2025 Change in % CHFm CHFm CHF CER Diagnostics Division 3,253 3,491 -7 3 Core Lab 1,798 1,904 -6 4 Molecular Lab 571 634 -10 0 Near Patient Care 465 536 -13 -5 Pathology Lab 419 4
Slide 38: Q1 2026: Diagnostics highlights
Q1 2026: Diagnostics highlights Diagnostics growing at +3%, impacted by China healthcare pricing reforms CHFbn YoY CER growth ▪ Immunodiagnostics (+3%) Core Lab ▪ Clinical chemistry (+9%) ▪ Transplant (+15%) Molecular Lab ▪ Blood screening (-9%) Near Patient ▪ BGM (+8%) Care ▪ Liat POC MDx (-25%) ▪
Slide 39: Q1 2026: Diagnostics regional sales
Q1 2026: Diagnostics regional sales North America +6% EMEA ~33% of divisional sales +3% ~37% of divisional sales Asia Pacific Latin America -5% +10% ~22% of divisional sales ~8% of divisional sales Growth rates at constant exchange rates (avg. full year 2025); EMEA: Europe, Middle East, and Africa 3
Slide 40: CE mark for cobas MPX-E test on cobas x800 systems
CE mark for cobas® MPX-E test on cobas® x800 systems Improving blood safety with multiplex testing of HIV, HCV, HBV, and HEV with target discrimination cobas® MPX-E test Market opportunity ▪ NAT blood screening represents a CHF ~800 million market1 ▪ HEV screening demand is growing in APAC and EMEA
Slide 41: CE mark for Elecsys NfL
CE mark for Elecsys® NfL Identifying neuroinflammation in patients with relapsing remitting multiple sclerosis Elecsys® NfL Market opportunity ▪ MS is a progressive disease affecting 2.8 million people worldwide1 ▪ ~45% of patients are treated with low efficacy treatments and Treatment Disease monit
Slide 42: Elecsys pTau217 study readout
Elecsys® pTau217 study readout Initial study results support potential implementation of Elecsys® pTau217 in primary care settings Diagnostic accuracy (CL 30) by care setting1 Unmet needs ▪ Alzheimer's is the leading cause of dementia, a condition projected 1.0 to reach 80 million by 20302 ▪ Diagnos
Slide 43: AXELIOS Sequencing solution
AXELIOS Sequencing solution1 Demonstrating the disruptive potential of the SBX technology SBX-Duplex performance Tumor-normal pair analysis Total Concordant Duplex Bases Type Shared events Leading technology Roche-specific Concordance Total Concordant Duplex Bases Tb Run Queue ▪ Confirmed SBX-D perf
Slide 44: SAGA Diagnostics acquisition agreement
SAGA Diagnostics acquisition agreement1 Advancing Roche Diagnostics’ end-to-end oncology portfolio with ultra-sensitive MRD technology Roche Diagnostics oncology ecosystem2 MRD market opportunity4 CHF bn Early 3 Precise detection diagnosis +31% CAGR 4.7 + digital pathology, staining, Therapy dPCR, i
Slide 45: Diagnostics key launches 2026
Diagnostics key launches 2026 Area Product Description Market Status Molecular Novel high-throughput solution for ultra-rapid, scalable, and flexible sequencing powered by Sequencing by Systems Lab AXELIOS Sequencing Solution Expansion (SBX) technology Global Non-invasive blood-based biomarker to en
Slide 46: IR events currently planned for 2026
IR events currently planned for 2026 Additional events driven by readouts Neurology Update Diagnostics Day Oncology Update CVRM Update Pharma Day 22 Apr 12 May 2 Jun 8 Jun 28 Sep ▪ MS franchise update at ▪ Group and Diagnostics ▪ Oncology franchise ▪ Obesity franchise update ▪ Update on Pharma AAN d
Slide 47: Doing now what patients need next
Doing now what patients need next
Slide 48: Changes to the development pipeline
Changes to the development pipeline Q1 2026 update New to phase I New to phase II New to phase III New to registration 5 NMEs: 1 NME: 1 NME: 1 AI: RG6627 APOE ASO - Alzheimer's disease RG6182 MAGL inhibitor - multiple sclerosis RG6640 enicepatide (CT-388) - obesity +/- T2D RG7159 Gazyva - systemic l
Slide 49: Roche Group development pipeline
Roche Group development pipeline Phase I (41 NMEs + 6 AIs) Phase II (12 NMEs + 6 AIs) RG6026 Columvi monotherapy + combos heme tumors RG6382 CD19 x CD3 SLE RG6114 Itovebi + enzalutamide CRPC RG6160 cevostamab r/r multiple myeloma RG6418* selnoflast inflammation RG6171 giredestrant endometrial cancer
Slide 50: Roche Group development pipeline
Roche Group development pipeline Phase III (11 NMEs + 22 AIs) Registration US & EU (2 NMEs + 5 AI) RG3502 Kadcyla + T HER-2+ eBC high-risk RG6149 astegolimab COPD giredestrant + post-CDK4/6 ER+/HER2- BC RG6013 Hemlibra Type 3 VWD RG62992 sefaxersen (ASO factor B) IgA nephropathy RG6171 everolimus† C
Slide 51: Expected regulatory submissions
Expected regulatory submissions* New Molecular Entities: Lead and additional indications New Molecular Entity (NME) Cardiovascular, Renal & Metabolism Additional Indication (AI) Neurology Oncology / Hematology Ophthalmology Immunology Other autogene cevumeran RG6180 solid tumors *Filing timelines re
Slide 52: Expected regulatory submissions
Expected regulatory submissions* Marketed products: Additional indications New Molecular Entity (NME) Cardiovascular, Renal & Metabolism Additional Indication (AI) Neurology Oncology / Hematology Ophthalmology Immunology Other *Filing timelines reflect the anticipated filing of a potential indicatio
Slide 53: Major pending approvals 2026
Major pending approvals 2026 US EU China Japan-Chugai giredestrant + everolimus Susvimo giredestrant Alecensa RG6171 post-CDK4/6 ER+/HER2- BC RG6321 wAMD RG6171 ER+ BC adj RG7853 ALK+ solid tumors Filed Dec 2025 Filed July 2025 Filed April 2026 Filed June 2025 Tecentriq Gazyva Avastin RG7446 ctDNA+
Slide 54: Major granted approvals 2026
Major granted approvals 2026 US EU China Japan-Chugai Polivy + chemo Lunsumio + Polivy RG7596 r/r DLBCL RG7828 r/r large B-cell lymphoma March 2026 March 2026 New Molecular Entity (NME) Cardiovascular, Renal & Metabolism Additional Indication (AI) Neurology Oncology / Hematology Ophthalmology Immuno
Slide 55: Doing now what patients need next
Doing now what patients need next