Swedish Orphan Biovitrum Ab · OMXSTO:SOBI
Swedish Orphan Biovitrum Ab — Sobi — Investor Presentation (March 2026)
38 slides from Swedish Orphan Biovitrum Ab's investor presentation, March 2026
Slide 1: This is Sobi
This is Sobi D Investor presentation March 2026
Slide 2: Forward-looking statements
Forward-looking statements This presentation contains certain forward-looking statements with respect to certain of the Company’s current expectations and projections about future events. These statements, which sometimes use words such as “intend,” “proposed,” “plan,” “expect,” and words of similar
Slide 3: Table of contents
Table of contents Slide Sobi key facts and business model 4 Latest results – Q4 and FY 2025 and business area update 18 Sustainability at Sobi 29 Pipeline and upcoming news flow 33 IR contacts 36 Notes 37 3
Slide 4: Sobi: Global biopharma company developing and commercialising rare disease therapies
Sobi: Global biopharma company developing and commercialising rare disease therapies Clear strategy with proven execution: • Identify: Successful BD track record building pipeline via partnerships and acquisitions • Unlock: Deep clinical-stage pipeline spanning multiple rare disease areas • Level Up
Slide 5: Business model
Business model Sobi is a global biopharma company unlocking Level up the potential of breakthrough therapies, transforming everyday life for people living with rare diseases. Level up access to life changing treatments Unlock Unlock best-in-class therapies Identify Identify unmet medical needs and b
Slide 6: Sobi has built a materially stronger financial platform over the last years
Sobi has built a materially stronger financial platform over the last years Revenue and Adj EBITA margin evolution 2020 - 2025 2020 – 2025 Finance performance Revenue (B SEK) Adj EBITA margin • Key investments made in 2021–2023 30 120 paying dividends in 2025 and 28 +12% at CER 26 beyond 22 • Delive
Slide 7: Globalising our footprint to increase access and impact
Globalising our footprint to increase access and impact Sobi revenues1, SEK bn Sobi territories2 – coverage of >90% of Global Mkt.3 US +11% >100 launches across Sobi territories 9.3 5.5 in last 5 years 2020 2025 Europe +7% 10.8 9 new 7.6 organisations since 2020, 2020 2025 e.g. Japan, International
Slide 8: Sobi is entering a unique moment of opportunity, with big launches and 5 potential blockbusters
Sobi is entering a unique moment of opportunity, with 6 big launches and 5 potential blockbusters Timeline 2024 2025 2026 2027 2028 2029 2030 Haemophilia A HLH / MAS C3G / IC-MPGN Uncontrolled gout NASP sHTG Progressive gout pozdeutinurad Joint health / synovitis1 VEXAS2 5 assets with block- Priorit
Slide 9: Setting a new ambition: Doubling Sobi to 55bn SEK by 2030
With such opportunities ahead we are setting a new ambition: Doubling Sobi to 55bn SEK1 by 2030 Revenue, in SEK bn ILLUSTRATIVE ONLY, NOT TO SCALE 6 major launches 55 Altuvoct in HA Gamifant HLH/MAS Priority Portfolio development renewal programs through NASP in BD uncontrolled gout Gamifant in IDS
Slide 10: We will further scale internationally to drive growth and diversify the business
We will further scale internationally to drive growth and diversify the business Europe + North America Pint partnership as Share of Sobi business, in % of sales1 International move to further build LATAM presence • Established launch and 7% distribution platform for 16% >20% Sobi medicines • Accele
Slide 11: Leveraging our roots in rare disease and pivoting towards broader opportunities
Leveraging our roots in rare disease and pivoting towards broader opportunities The “Rare approach” remains at our Branching out from the rare core - examples core From To Deep scientific and medical foundation Patient-centric model built on long-term, pHLH IDS trusted physician partnerships Bra
Slide 12: Selected milestones and catalysts of the next years
Selected milestones and catalysts of the next years Status/ Peak sales Product Modality Indication Launch ambition Next milestones and catalysts Two modified SEK Launch in 16 countries in 2026-27; Haemophilia A Approved FREEDOM and SHINE data at EAHAD, FVIII biologics 10bn+ ISTH & ASH 2026 Mab targe
Slide 13: Next wave of catalysts driven by the innovative pipeline
Next wave of catalysts driven by the innovative pipeline Medicine Indication Phase 2 Phase 3 Registration Phase 4 Emapalumab Interferon-gamma driven sepsis (IDS)1 Balance high- Pacritinib VEXAS Syndrome confidence late-stage Chronic Myelomonocytic Leukemia (CMML)1 value with selective Myelofibrosis
Slide 14: Financial framework
Financial framework Track record Our ambition until 2030 Revenue (B SEK) R&D % of Sales Revenue growth to Top-line growth key contributor to SG&A % of Sales Adj EBITA Margin maintaining strong margins and operating 30 60 55bn SEK by 2030 leverage 28 26 R&D to remain 50 Depending on portfolio evoluti
Slide 15: Capital allocation strategy
Capital allocation strategy Fund Organic Maintain balance Continue Shareholder Growth (R&D and sheet strength disciplined value SGA expenses to and financial business drive launches) flexibility development Primary use of cash Strong operating Selective and Increasing is reinvestment in cash flows a
Slide 16: Sobi represents a compelling investment opportunity with a clear path to sustained growth
We want to double Sobi to SEK 55bn revenue by 2030, 1 with sustained growth beyond Sobi represents a After a period of investment, we expect adjusted compelling investment 2 EBITA margins to return to the upper-30% range opportunity with a clear path to sustained long- term growth and value We will
Slide 17: Management Team
Management Team Management Team sobi.com/executive committee Executive committee | Sobi 17
Slide 18: Latest results Q4 and FY 2025 and business area update
Latest results Q4 and FY 2025 and business area update
Slide 19: Key takeaways for Q4 2025
Key takeaways for Q4 2025 Continued strong performance in Q4, growth of 16% at CER – driven by 37% growth in our strategic portfolio1 Delivered double digit growth for full year with 15% growth at CER with all regions contributing and 40% adjusted EBITA margin Addition of Arthrosi Therapeutics to st
Slide 20: Strong growth of 16% at CER in Q4 delivered by our portfolio and across all regions
Strong growth of 16% at CER in Q4 delivered by our portfolio and across all regions Total net sales, SEK M, growth at CER Strategic products, SEK M Revenue by region Doptelet 1,508 Strategic1 +16% Foundational Beyfortus Europe 2,955 +19% 849 7,821 royalty 7,436 Altuvoct 1 023 North 5,059 Gamifant 76
Slide 21: Full year growth of 15% at CER delivered by strong momentum across the business
Full year growth of 15% at CER delivered by strong momentum across the business and across all regions Total net sales, SEK M, growth at CER Revenue by Therapeutic area Revenue by region Strategic1 +15% Foundational Europe 10,815 20% 28,238 4% 26,027 28% North 16,698 America 9,313 +19% 12,346 (59%)
Slide 22: Altuvoct: FY 2025 haemophilia A sales >SEK 6.8 B with continued growth expected
Altuvoct: FY 2025 haemophilia A sales >SEK 6.8 B with continued growth expected Haemophilia A sales SEK 1,907 M +39% Q4 Haemophilia A Altuvoct: Best in class product annual sales • Launched in 23 countries with strong momentum Elocta • Q4 Altuvoct sales exceeding SEK 1B 8 000 Altuvoct Altuvoct launc
Slide 23: Doptelet: Continues to deliver strong momentum, growing 47% at CER
Doptelet: Continues to deliver strong momentum, growing 47% at CER Doptelet SEK 1,508 M +47% Q4 Doptelet • Excellent efficacy coupled with less diet restriction has made Doptelet an important choice in ITP • The brand has evolved into a truly global franchise, with strong momentum and continued grow
Slide 24: Aspaveli: Launching in Germany in Q1 2026
Aspaveli: Launching in Germany in Q1 2026 supported by best-in-class data for C3G and IC-MPGN Aspaveli has demonstrated strong efficacy in C3G & IC-MPGN1 EU approval on January 16th for both C3G & IC-MPGN • The robust phase 3 VALIANT data were recently published in the New England Journal of Medicin
Slide 25: Beyfortus: Strong fundamentals – with season variation and inventory levels
Beyfortus: Strong fundamentals – with season variation and inventory levels Beyfortus seasonal revenue Q4 SEK 849 M H2 SEK 2,015 M Fundamentals of market have not changed • Beyfortus recommended for all newborns whose mother has not received a Product High 2025/26 maternal vaccine and fully reimburs
Slide 26: Gamifant: Accelerating growth with US launch in HLH/MAS
Gamifant: Accelerating growth with US launch in HLH/MAS and strong momentum across indications Gamifant SEK 763 M +70% Q4 MAS launch accelerating growth • First-ever treatment for adults and children with Macrophage Activation Syndrome (MAS) in Still's disease • Strong patient growth continues to dr
Slide 27: Our expectations in 2026 is all about balancing today, tomorrow and the day after tomorrow
Our expectations in 2026 is all about balancing “today”, “tomorrow” and “the day after tomorrow”… Pipeline Launches sHTG pre-launch Continued activities for Altuvoct launch Tryngolza Arthrosi deal closure and Launch of Aspaveli finalisation of in Europe Phase 3 program Next program for Gamifant laun
Slide 28: Sobi Outlook 2026
Sobi Outlook 2026 Key drivers for 2026 outlook 2026 Outlook • Progress with commercial portfolio and continued Altuvoct launch Revenue • Critical investments in 2026 for future revenue growth: Anticipated to grow by a low • SG&A investment in Aspaveli in double-digit percentage at CER Nephrology and
Slide 29: Sustainability at Sobi
@sob! Sustainability at Sobi
Slide 30: Sustainability strategy drives business priorities
Sustainability strategy drives business priorities Commitment to patients Responsible behaviour Sobi’s climate targets • Access to treatment • Safe, fair, and healthy work approved by SBTi • Patient centricity and engagement • Inclusive, diverse workplace • Patient and product safety • Lower environ
Slide 31: Commitment to patients
Commitment to patients For more details: Sustainability performance | Sobi Access to treatment Humanitarian aid Patient centricity ~ 42,000 people treated* with • Four international patient councils medicines from Sobi. to advise on early clinical development. • 525 employees completed training Cont
Slide 32: Always act responsibly
Always act responsibly For more details: Sustainability performance | Sobi Caring for employees Reduced footprint Responsible sourcing Compliance • Gender composition (%) A 77% reduction in CO2- intensity between 2016 and 95% Mean score 64 95% completed Code of 2023 (from 0,3 to 0,07 tonnes of Sobi’
Slide 33: Pipeline and upcoming news flow
Pipeline and upcoming news flow
Slide 34: Continued pipeline progress in Q4 2025
Continued pipeline progress in Q4 2025 C3G & primary IC-MPGN Aspaveli EU approval C3G & primary IC-MPGN Japan submission C3G & primary IC-MPGN Pivotal VALIANT data published in NEJM HLH / MAS in Still’s disease Gamifant Japan submission HLH / MAS in Still’s disease EU submission IDS Phase 2a data Se
Slide 35: Progress to be continued in 2026
Progress to be continued in 2026 Anticipated pipeline news flow 2026 H1 2026 H2 NASP – Uncontrolled gout Altuvoct – Haemophilia A o US regulatory decision o FREEDOM Phase 3b initial study data Tryngolza – sHTG ≥880 mg/dL Aspaveli – C3G & primary IC-MPGN o EU submission o Japan regulatory decision Zy
Slide 36: Sobi IR contacts
Sobi IR contacts Investors page on sobi.com 36
Slide 37: Notes on Haemophilia and RSV business
Notes on Haemophilia and RSV business Haemophilia • Sobi and Sanofi collaborate on the development and commercialisation of Alprolix and Elocta/Eloctate. The companies also collaborate on the development and commercialisation of efanesoctocog alfa, or Altuviiio, in the US. • Sobi has final developme
Slide 38: Thank you
D Thank you Sobi is a trademark of Swedish Orphan Biovitrum AB (publ). © Swedish Orphan Biovitrum AB (publ) – All rights reserved Swedish Orphan Biovitrum AB (publ) SE-112 76 Stockholm • Sweden www.sobi.com 38