Slide 1: Q1 2026 update
Q1 2026 update 23 April 2026 SIPSEN
Slide 2: Forward-looking statements
Forward-looking statements This presentation includes only summary information and does not purport to be comprehensive. Forward-looking statements, targets and estimates contained herein are for illustrative purposes only and are based on management’s current views and assumptions. Such statements
Slide 3: Speakers
Speakers Presentation Joining for Q&A David Loew Aymeric Le Chatelier Chief Executive Officer Chief Financial Officer 3
Slide 4: Today's highlights
Today’s highlights Financial Performance Q1 26 sales growth of +22.6% at CER1 • Somatuline®: +12.8% • Rest of Portfolio: +27.5% Confirmation of 2026 guidance2 • Total sales growth > 13.0% and core operating margin3 > 35.0% of total sales Pipeline Progression • Ojemda® (tovorafenib) EU approval in pe
Slide 5: Q1 2026 sales performance
Q1 2026 sales performance €m % change Oncology 708 13.0% Rare Disease 147 125.4% Neuroscience 220 18.5% Total Sales 1,075 22.6% Total sales growth excl. 746 27.5% Somatuline® Growth at constant exchange rates 5
Slide 6: Oncology portfolio
Oncology portfolio Q1 2026 sales growth of 13.0% €329m €169m €144m €53m +12.8% +16.4% +8.4% +12.4% Good performance in Strong performance, Volume growth in Expansion of use in the U.S. & Europe, driven by increasing Europe and Rest of the 1L PDAC in the with ongoing generic market share in RCC World
Slide 7: Rare Disease portfolio
Rare Disease portfolio Q1 2026 sales growth of 125.4% €79m €61m +266.7% +51.5% Accelerated sales growth in Strong growth in PFIC and the U.S. driven by higher ALGS indications in the U.S. number of patients and Europe Strong launches across Increasing contribution from European countries additional
Slide 8: Neuroscience portfolio
Neuroscience portfolio Q1 2026 sales growth of 18.5% Aesthetics Therapeutics €137m €80m +24.3% +10.5% Sustained growth across Double digit growth in the North America and Europe U.S. and Europe Favorable shipment phasing Rest of World impacted by in certain Rest of World tender phasing countries Gro
Slide 9: Growing pipeline across three therapeutic areas
Growing pipeline across three therapeutic areas Phase I Phase II Phase III Ojemda (tovorafenib, RAF-kinase inhibitor) FIREFLY-21: 1L pLGG IPN60340/ICT01 (BTN3A T-cell activator) 1L unfit AML IPN01195 (RAFi) Solid tumors IPN60300 (ADC) Solid tumors IPN01203 (TCA) Solid tumors Iqirvo (PPAR α/δ agonist
Slide 10: Major readouts in H2 2026
Major readouts in H2 2026 Phase III Phase II C-BEOND & E-BEOND ELSPIRE BOLD LANTIC Dysport Iqirvo Bylvay Corabotase (IPN10200) Chronic & Episodic Primary Biliary Biliary Atresia Aesthetics: Migraine Cholangitis FHL & LCL Two Global In patients with Evaluating Phase II assessing Phase III trials with
Slide 11: Expanding our late-stage pipeline
Expanding our late-stage pipeline 1L unfit Acute Myeloid Primary Sclerosing Cholangitis Aesthetics: Glabellar Lines Leukemia (Phase IIb/III) ELASCOPE (Phase III) LAURITE 1 & 2 (Phase III) IPN60340 Elafibranor Corabotase (IPN10200) 1L unfit AML Based on time to first 2 Phase III trials in combination
Slide 12: Key takeaways
Key takeaways Executing on 2026 priorities Delivering Strong Financials • Solid double-digit sales growth momentum • Full-year 2026 guidance1 confirmed Expanding Pipeline • Three late-stage programs starting in 2026 • Significant firepower for external innovation 1 Total sales growth greater than 13
Slide 13: Questions
$IPSEN Questions 13
Slide 14: Appendix
Appendix $IPSEN
Slide 15: Currency impact Q1 2026 sales
Currency impact Q1 2026 sales FX negative impact of -5.6pts Q1 2026 sales by currency Average rate changes (Q1 2026 vs. Q1 2025) Other -34% -11% -11% -6% -4% 23,4% EUR GBP 0.87 CNY: 8.11 32.4% USD: 1.17 SAR: 4.39 CNY 3,0% 4,6% GBP 36,6% TRY: 51.21 USD 15
Slide 16: Oncology: key ongoing clinical-trial highlights
Oncology Key ongoing clinical-trial highlights Primary Trial Indication Patients Design Status Endpoint(s) Ojemda (tovorafenib) tovorafenib FIREFLY-2 1L pLGG 400 or ORR Recruiting1,2 Phase III SoC chemotherapy NCT05566795 IPN60340 + IPN60340 1L AML 56 azacitidine- CRR Completed1 NCT05307874 venetocl
Slide 17: Rare Disease: key ongoing clinical-trial highlights
Rare Disease Key ongoing clinical-trial highlights Primary Trial Indication Patients Design Status Endpoint(s) Iqirvo Percentage of Placebo ELSPIRE2 participants with 2L PBC 69 or Active, not recruiting1 Phase III normalisation of ALP Iqirvo NCT06383403 levels Bylvay Time from Placebo BOLD randomiza
Slide 18: Neuroscience - Dysport
Neuroscience - Dysport Key ongoing clinical-trial highlights Primary Trial Indication Patients Design Status Endpoint(s) Dysport Change from baseline C-BEOND Two dosing regimes Active, not Chronic migraine 759 in monthly migraine Phase III of Dysport or placebo recruiting1,2 days (MMD) NCT06047444 D
Slide 19: Neuroscience – corabotase (IPN10200)
Neuroscience – corabotase (IPN10200) Key ongoing clinical-trial highlights Primary Trial Indication Patients Design Status Endpoint(s) Corabotase Composite response of (IPN10200) 2-grade improvement Corabotase (IPN10200) LAURITE 1 & 2 Moderate to severe GL 1,600 on SSA and ILA at Recruiting1 or plac
Slide 20: Investor Relations
Investor Relations Henry Wheeler Khalid Deojee Vice President, Investor Relations Senior Manager, Investor Relations +33 7 64 47 11 49 +33 6 66 01 95 26 henry.wheeler@ipsen.com khalid.deojee@ipsen.com 20
Slide 21: Thank You
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