Slide 1: Q1 2025 update
Q1 Q12025 2025update update 16 April 2025 16 April 2025 Packaging Operator Manufacturing Packaging Operator Signes, Manufacturing France Signes, France
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 Business update For Q&A David Loew Aymeric Le Chatelier Chief Executive Officer Chief Financial Officer 3
Slide 4: Q1 2025 highlights
Q1 2025 highlights Q1 key achievements • Strong top line performance with total sales growth at 11.6%1 • Pipeline progress including EMA2 regulatory submission of tovorafenib and entry in Phase I of IPN01195 (RAF inhibitor) • Refinancing completed for €2bn including €500m rated public bond supported
Slide 5: Q1 2025 sales
Q1 2025 sales Growth across all three therapeutic areas €m % change Oncology 655 8.0% Rare Disease 70 74.6% Neuroscience 194 9.6% Total Sales 919 11.6% Jenny Product Development Scientist Growth at constant exchange rates Dreux, France 5
Slide 6: Oncology portfolio
Oncology portfolio Q1 2025 sales growth of 8.0% €310m €147m €136m €52m +19.1% -3.2% +3.4% +6.3% Continued generic- Solid performance in Volume growth in Europe Limited market share lanreotide shortages in Europe from increased and China, with continued growth in the U.S. in the NA, Europe & strong v
Slide 7: Rare Diseases portfolio
Rare Diseases portfolio Q1 2025 sales growth of 74.6% €43m €23m +63.3% - Strong growth in the U.S driven Accelerated sales growth in the by increased global sales in PFIC U.S. based on increasing patient and ALGS indications uptake from new patients, switch & market expansion Solid performance ex-US
Slide 8: Neuroscience portfolio
Neuroscience portfolio Q1 2025 sales growth of 9.6% Aesthetics Therapeutics €117m €73m +16.0% -0.2% Strong performance driven by Solid performance across all markets continued growth in most aesthetics notably North America and Europe markets including the U.S. and Europe offset by impact of phasing
Slide 9: Pipeline Update
Pipeline Update Balanced across therapeutic areas Phase I Phase II Phase III Tazverik + R2: SYMPHONY-1 2L FL tovorafenib: FIREFLY-2* 1L pLGG IPN01195 (RAFi) Solid tumors IPN01194 (ERKi) Solid tumors Bylvay: BOLD Biliary atresia Iqirvo: ELSPIRE PBC Iqirvo: ELMWOOD PSC ritivixibat PSC fidrisertib: FAL
Slide 10: Upcoming pipeline milestones
Upcoming pipeline milestones Several milestones across all therapeutic areas in 2025 & 2026 Medicine 2025 2026 Cabometyx (CABINET): 2L+ pNET & epNET fidrisertib (FALKON): FOP, Phase IIb2 LANT (LANTIC): Ax, Phase II tovorafenib (FIREFLY-11): R/R pLGG Bylvay (BOLD) BA, Phase III Iqirvo (ELSPIRE) PBC,
Slide 11: Conclusion and outlook 2025
Conclusion and outlook 2025 On track to deliver 2025 roadmap Growing topline fueled by launches and portfolio performance Investing in launches, growth products and further advancing pipeline Active external innovation based on significant firepower Vincent Scientist, R&D, Les Ulis, France
Slide 12: Questions
QUESTIONS
Slide 13: Appendix
APPENDIX
Slide 14: Currency impact on Q1 2025 sales
Currency impact on Q1 2025 sales Limited impact of +0,1% Q1 2025 sales by currency Average rate changes (Q1 2025 vs. Q1 2024) USD: 1.05 GBP: 0.84 CNY: 7.65 TRY: 38.18 BRL: 6.15 MXN: 21.47 Other --66% 3% 2% 2% EUR 23.9% EUR 24.6% 32.2% 34% 4% 33.5% CNY 4% -14% 3.2% -15% -16% 4.4% 35% 36.3% USD USD GB
Slide 15: Oncology: key ongoing clinical-trial highlights
Oncology Key ongoing clinical-trial highlights PRIMARY TRIAL INDICATION PATIENTS DESIGN STATUS ENDPOINT(S) Tazverik Tazverik + R2 SYMPHONY-1 R/R FL 612 or PFS Recruiting2 Phase III placebo + R2 NCT04224493 tovorafenib tovorafenib FIREFLY-2 1L pLGG 400 or ORR Recruiting1 Phase III chemotherapeutic NC
Slide 16: Rare Disease: key ongoing clinical-trial highlights
Rare Disease Key ongoing clinical-trial highlights PRIMARY TRIAL INDICATION PATIENTS DESIGN STATUS ENDPOINT(S) Bylvay Placebo BOLD Time to first occurrence of Biliary atresia 254 or Active, not recruiting1 Phase III liver transplant, or death Bylvay NCT04336722 Iqirvo Placebo ELSPIRE2 2L PBC 72 or N
Slide 17: Neuroscience: key ongoing clinical-trial highlights
Neuroscience Key ongoing clinical-trial highlights PRIMARY TRIAL POPULATION PATIENTS DESIGN STATUS ENDPOINT Dysport C-BEOND Two dosing regimes of Chronic migraine 720 Efficacy and safety Recruiting1 Phase III Dysport or placebo NCT06047444 Dysport E-BEOND Two dosing regimes of Episodic migraine 714
Slide 18: Investor Relations
Investor Relations Khalid Deojee Senior Manager Investor Relations +33 6 66 01 95 26 khalid.deojee@ipsen.com 18
Slide 19: Thank you
Thank you Follow us: www.ipsen.com