Slide 1: Investor Presentation July 31, 2025
Investor Presentation July 31, 2025 For Investor Relations Purposes Only Exhibit 99.3
Slide 2: Important Cautionary Statement Regarding Forward-looking Statements
c Important Cautionary Statement Regarding Forward-looking Statements This presentation contains certain statements that are forward-looking. Forward-looking statements include, among other things, express and implied statements regarding: the Company’s financial guidance including revenue, operatin
Slide 3: Rescue Recovery Founded to Help Address the Opioid Crisis
c Rescue Recovery Founded to Help Address the Opioid Crisis Leading with Science Leading in discovery and commercialization of buprenorphine evidence-based medicines for opioid dependence for over 30 years 10-year company history of bringing science-based, life-transforming treatments to tackle the
Slide 4: Track Record of Strong Net Revenue Growth
1 Financial data provided by Indivior in its Annual Reports on Forms 20-F and 10-K filed with the SEC on June 5, 2023, March 6, 2024 and February 3, 2025. 2 Other includes Sublingual Film/Tablets, OPVEE® & PERSERIS®. Track Record of Strong Net Revenue Growth U.S. net revenue1 Rest of World net reven
Slide 5: Leverage Cost Structure to Drive Robust Bottom-line Growth
Leverage Cost Structure… 1 Non-GAAP operating expenses and adjusted EBITDA are Non-GAAP financial measures; see appendix for reconciliation. GAAP Net Income/(loss) of ($148m) in FY 2020, $205m in FY 2021, ($42m) in FY 2022, ($126m) in FY 2023 and $7m in FY 2024; GAAP Total Expenses of $706m in FY 20
Slide 6: U.S. Commercial Portfolio Spanning Recovery and Rescue
U.S. Commercial Portfolio Spanning Recovery and Rescue Daily self-administered treatment for moderate to severe opioid use disorder Nasal spray for emergency treatment of known or suspected opioid overdose Long-acting injectable for moderate to severe opioid use disorder Indication Recovery Medicine
Slide 7: 2025: A Transition Year
2025: A Transition Year Foundational Leadership Additions Current U.S. Dynamics Refocused Pipeline on OUD Strengthening expertise and leadership with Board of Directors (BOD) and Executive Team additions 2025 U.S. NR Headwinds: SUBLOCADE Net Revenue impacted by funding gaps in the Criminal Justice S
Slide 8: Indivior Action Agenda
Indivior Action Agenda Phase I (Generate Momentum) Underway I II III Grow U.S. SUBLOCADE net revenue Simplify the organization and establish “go-forward” operating model Determine actions and investments necessary to expand LAI penetration in U.S. BMAT market to accelerate U.S. SUBLOCADE net revenue
Slide 9: SUBLOCADE
SZ iNDIVIOR SUBLOCADE*
Slide 10: Bipartisan Commitment to Addressing Opioid Crisis in the U.S.
c c c c Bipartisan Commitment to Addressing Opioid Crisis in the U.S. U.S. Illicit Opioid Use Could Be 20 Times Higher Than Previously Estimated May 12, 2025 The SUPPORT for Patients and Communities Reauthorization Act of 2025 (H.R. 2483) reauthorizes key public health programs focused on prevention
Slide 11: ASAM BMAT Guidelines For Individuals using High-Potency Synthetic Opioids
American Society of Addiction Medicine (ASAM) BMAT Guidelines For Individuals using High-Potency Synthetic Opioids (HPSO) Expert consensus based on limited available evidence suggests that the high plasma buprenorphine concentrations at steady state and continuous exposure offered by extended-releas
Slide 12: LAI Buprenorphine Medications are Under-Penetrated in the Treatment of OUD
12023 NSDUH Annual National Report (SAMSHA). 2Symphony and Indivior analytics, patient treated over the last twelve months. 3HCP Survey conducted Q3 2024. N=400 HCP and patients combined in qual and quant. LAI Buprenorphine Medications are Under-Penetrated in the Treatment of OUD Current ~8% LAI usa
Slide 13: Buprenorphine Blood Plasma Levels Needed to Protect from Opioid-Rewarding Effects
Buprenorphine plasma concentrations >2 ng/mL ≥70% brain μORs are occupied less μORs are available for illicit opioids Low buprenorphine plasma concentrations few brain μORs are occupied more μORs are available for illicit opioids As buprenorphine plasma levels increase, the number of receptors avail
Slide 14: Mean Buprenorphine Levels During Induction, Stabilization and First 2 Injections
Mean Buprenorphine Levels During TM BUP* Induction, Dose-Stabilization, and After the First 2 Injections of SUBLOCADE5 A peak occurred around 24 hours, the first measurement post-injection, then slowly decreased to a plateau around 2 ng/mL for the first injection and 3 ng/mL for the second injection
Slide 15: Longer SUBLOCADE Treatment Shown to Improve Patient Outcomes
The longer the SUBLOCADE treatment duration, the higher the likelihood of continuous self-reported abstinence 12 months after treatment cessation % Abstinent subjects Length of SUBLOCADE treatment Source: Ling W, Nadipelli VR, Aldridge AP, Ronquest NA, Solem CT, Chilcoat H, Albright V, Johnson C, Le
Slide 16: New SUBLOCADE Label Benefits
New SUBLOCADE Label Benefits1 Label Updates Further Differentiate SUBLOCADE for Today’s Opioid Crisis Driven by the Proliferation of Synthetic Opioids START PATIENTS ON SUBLOCADE SOONER: Only monthly LAI to initiate on Day 1 with buprenorphine naive patients (no 7-day oral induction).1,2 2nd INJECTI
Slide 17: Strong Fundamentals Position SUBLOCADE for Growth
Broad Payor Access for SUBLOCADE High Intent to Prescribe 1 Active count of prescribing HCPs; excludes delisted and Specialty HCPs. 47% of HCPs expected to increase prescribing of SUBLOCADE in the next 18 months 2/3 of patients suitable for SUBLOCADE today (per HCPs) 90% of HCPs associate SUBLOCADE
Slide 18: Q2 2025 U.S. SUBLOCADE Performance
Q2 2025 U.S. SUBLOCADE Performance 1 Total number of dispenses (new and refill) within the quarter; Indivior analytics. 2 Rolling 12 mos. Estimated patients in treatment TTM SUBLOCADE Patients2 Strong SUBLOCADE Dispense Growth1 // +6% YoY +9% QoQ +7% YoY INVESTOR PRESENTATION | July 31, 2025
Slide 19: Improving U.S. SUBLOCADE Commercial Execution to Generate Momentum
Improving U.S. SUBLOCADE Commercial Execution to Generate Momentum 11 OVERRIDING GOAL: Extend SUBLOCADE’s Position as No. 1 LAI Choice Field Force Execution: Improving field force messaging acumen and productivity Driving HCP awareness of label updates Payor Pull-Through: Leveraging broad access acr
Slide 20: OPVEE
{asiNOIvior &
Slide 21: Potent Synthetic Opioids (Fentanyl) are Driving U.S. Overdose Crisis
26% in 2015 90% in 2024 Source: Ahmad FB, C. J., Rossen LM, Sutton P., 2024. Provisional drug overdose death counts. National Center for Health Statistics, https://www.cdc.gov/nchs/nvss/vsrr/drug-overdose-data.htm; Centers for Disease Control and Prevention, National Center for Injury Prevention and
Slide 22: OPVEE Nasal Rescue Medicine, BARDA Contract and Patent Estate
1 The Journal of Clinical Pharmacology Authors: Mark Ellison PhD, Emily Hutton, MSci, Lynn Webster, MD, and Phil Skolnick PhD, DSc (hon.). 2 BARDA: Biomedical Advanced Research and Development Authority. 3 NIDA: National Institute on Drug Abuse. 4 Amount includes potential future sales to BARDA and
Slide 23: OPVEE Compared with 4mg Nasal Naloxone
OPVEE compared with 4mg nasal naloxone OPVEE vs. 4mg nasal naloxone(5) OPNT0003 (3mg) Naloxone (4mg) Affinity at μ opioid receptors 1.0 (1) 5.4 (1) Plasma concentrations at 5 minutes (ng/ml) 4.43 (3) 1.5 (2) Tmax (minutes) 15 (3) 30 (4) Cmax (ng/ml) 10 (3) 4.83 (4) Half-life (hours) 11 (3) 2.08 (4)
Slide 24: Pipeline
= iINDIVIOR
Slide 25: OUD Focused Pipeline
1 Treatment failure defined as either one of two criteria: (1) Urine Drug Screen positive for opioids, or fentanyl on 4 consecutive assessments while participants are on INDV-2000 or placebo alone, (2) Discontinued INDV-2000 or placebo prematurely. Trial Patients & Population Design Primary Endpoint
Slide 26: Financials
SZ iNDIVIOR’ | as iN
Slide 27: Q2 2025 Business Highlights
SUBLOCADE Net Revenue Q2 2025 Business Highlights 6 1 Adjusted EBITDA is a Non-GAAP Financial Measure with Net Income as the most directly comparable; Net Income/(loss) was (97m) in Q2 2024 and $18m in Q2 2025; See Non-GAAP Financial Measures in the Appendix for reconciliation Total Net Revenue Adju
Slide 28: Raising 2025 Financial Guidance: Reflecting Stronger Top-line Growth
Raising 2025 Financial Guidance: Reflecting Stronger Top-line Growth 16 1 As of July 31, 2025, before exceptional items and assuming no material change in key FX rates vs. FY 2024 average rates. Financial data provided by Indivior in its press release on Form 8-K filed with the SEC on July 31, 2025.
Slide 29: Transition Year: Evolution of the Business in 2025
1 Financial data provided by Indivior in its press release on Form 8-K filed with the SEC on July 31, 2025. 2 Based on the midpoint of 2025 financial guidance ranges. 3 Other includes Sublingual Film/Tablets, OPVEE® & PERSERIS®. 4 2025E at the mid-point of Guidance; See Non-GAAP Financial Measures i
Slide 30: Key Balance Sheet Items
Key Balance Sheet Items 1 Defined as Earnings Before Interest, Taxes, Deprecation and Amortization; See Non-GAAP Financial Measures in the Appendix for reconciliation; Net Income/(loss) of ($148m) in FY 2020, $205m in FY 2021, ($42m) in FY 2022, ($126m) in FY 2023 and $7m in FY 2024. 2 Based on the
Slide 31: Capital Markets Footprint to Align with U.S. Focused Business
Context & Expected Benefits U.S. NR makes up 85% of total NR for FY 2024, with anticipated growth Over 70% of Indivior’s shareholders based in the U.S. Majority of stock trading volume conducted through Nasdaq listing Reduces the costs and complexities of maintaining a secondary listing Potential fo
Slide 32: Appendix
_ INDIVIOR § Appendix
Slide 33: Q2 2025 Financial Highlights
Q2 2025 Financial Highlights 13 1See non-GAAP Financial Measures in the Appendix for reconciliation; Columns and rows may not foot due to rounding. 2GAAP Selling and Marketing Expenses were $80m in Q2 2025 and $66m in Q2 2024, GAAP Administrative and General Expenses were $78m in Q2 2025 and $86m in
Slide 34: Cash and Borrowing Position
Cash and Borrowing Position 14 1See discussion of obligations in Note 12 in SEC filed form 10-K on March 3, 2025; Columns and rows may not foot due to rounding. 2Defined as Total Debt divided by Adjusted EBITDA for the trailing 12 months; Total debt excludes legal settlement obligations. Cash and bo
Slide 35: 2025 Financial Guidance Reconciliation: Introducing Adjusted EBITDA
2025 Financial Guidance Reconciliation: Introducing Adjusted EBITDA1 15 1For non-GAAP guidance items, the Company has relied upon the exception in item 10(e)(1)(i)(B) of Regulation S-K to exclude such reconciliations, as the reconciliations of these non-GAAP guidance metrics to their corresponding G
Slide 36: Q2 2025 Financial Reconciliations
Q2 2025 Financial Reconciliations INVESTOR PRESENTATION | July 31, 2025
Slide 37: Q2 2025 Reconciliations
Q2 2025 Reconciliations INVESTOR PRESENTATION | July 31, 2025
Slide 38: Q2 2025 Financial Reconciliations
Q2 2025 Financial Reconciliations INVESTOR PRESENTATION | July 31, 2025
Slide 39: FY 2020–2024 Non-GAAP Operating Expense Reconciliations
FY 2020–2024 Non-GAAP Operating Expense Reconciliations INVESTOR PRESENTATION | July 31, 2025 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Reconciliation: IFRS to GAAP exceptionals within operating profit Q4 Reclassification US GAAP Operating Profit $73.209536594165002 $-,119.2966617134996 $33.6949540315
Slide 40: FY 2020–2025 Q2 EBITDA Reconciliations
FY 2020–2025 Q2 EBTIDA Reconciliations INVESTOR PRESENTATION | July 31, 2025 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Reconciliation: IFRS to GAAP exceptionals within operating profit Q4 Reclassification US GAAP Operating Profit $73.209536594165002 $-,119.2966617134996 $33.694954031548903 $44.1220056
Slide 41: FY 2024 & TTM Leverage Reconciliation
FY 2024 & TTM Leverage Reconciliation INVESTOR PRESENTATION | July 31, 2025 Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Reconciliation: IFRS to GAAP exceptionals within operating profit Q4 Reclassification US GAAP Operating Profit $73.209536594165002 $-,119.2966617134996 $33.694954031548903 $44.12200566
Slide 42: Net Revenue by Geography FY 2024 Global Markets
SUBLOCADE (SUBUTEX®PR (ROW)) SUBOXONE Film1 North America U.S. ● ● Canada ● ● Europe & Middle East France ● ● Italy ● ● Germany ● ● Denmark, Norway2 ● ● Sweden ● ● Finland ● ● Switzerland ● UK ● ● Israel ● ● Australasia Australia ● ● (available)1 (approved/Not Marketed) $1,188m Net Revenue by Geogra
Slide 43: SUBLOCADE Indication and Highlighted Safety Information
SUBLOCADE® (buprenorphine extended-release) injection, for subcutaneous use (CIII) INDICATION SUBLOCADE is indicated for the treatment of moderate to severe opioid use disorder in patients who have initiated treatment with a single dose of a transmucosal buprenorphine product or who are already bein
Slide 44: OPVEE Indication and Highlighted Safety Information
OPVEE® (nalmefene) nasal spray INDICATION AND USAGE OPVEE nasal spray is an opioid antagonist indicated for the emergency treatment of known or suspected overdose induced by natural or synthetic opioids in adults and pediatric patients aged 12 years and older, as manifested by respiratory and/or cen