Expres2ion Biotech Holding Ab · OMXSTO:EXPRS2
Expres2ion Biotech Holding Ab — Q2 2026 Earnings Presentation
23 slides from Expres2ion Biotech Holding Ab's earnings presentation, Aug 20, 2026
Slide 1: Interim Report Q2 Webcast
Interim Report Q2 Webcast 20 August 2026 Innovative immunotherapies for a healthier world Hosted by Nasdaq First North: EXPRS2 ExpreS2ion Biotech Holding AB Company reg. no. 559033 - 3729
Slide 2: Agenda
Agenda • Key updates across the quarter • Financial results • Q&A Note: This presentation may contain forward - looking statements; please see disclaimer at end 2
Slide 3: News Across Q2 ’26 and Post-Period Updates
News Across Q2 ’26 and Post - Period Updates Main operational updates across the pipeline and finance Platform: Glyco Patent ExpreS2ion Strengthens Glyco - Funding Engineering Platform with ExpreS2ion announces final Platform: Glyco Patent Publication of Patent Application ExpreS2ion's Patent Applic
Slide 4: Investment Case
Investment Case Clinical - stage biotech developing immunotherapies and vaccines Lead Asset Platform Strategic Position ExpreS2 protein manufacturing ES2B - C001 HER2 immunotherapy 34% AdaptVac ownership platform Phase I clinical Phase III validated Clear partnering pathway Why invest now? • First-
Slide 5: Pipeline Overview
Pipeline Overview A focused oncology lead asset, complemented by partnered infectious disease programmes and platform validation Target Pre - clinical Disease Project/Target ID Identification Pharmacology cGMP / Tox Phase I Phase II Phase III Collaboration Partner Platform 1 100% Breast Cancer ES2B
Slide 6: Leadership: Fully Capable of Executing Clinical PoC
Leadership: Fully Capable of Executing Clinical PoC Extensive Clinical Development, Oncology & Licensing Experience + 15 FTE colleagues (6 PhDs) Executive + consulting executives Management Bent U. Frandsen, MSc Keith Alexander, MSc Dr. Max M. Soegaard, PhD 200+ years of clinical development and pha
Slide 7: Three Advantages, One First-in-Class Profile
Three Advantages, One First - in- Class Profile ES2B - C001: No approved HER2 therapy combines all three Potential to address resistance First - in- class HER2 active immunotherapy Designed for Designed for combination with durable immune standard of care control 7
Slide 8: ES2B-C001: Phase I Clinical Update
ES2B - C001: Phase I Clinical Update Phase I progressing as planned; targeting end - 2026 readout Trial design Early immunogenicity observations • Design: Open - label Phase I dose escalation 7,500 Anti- HER2 λ light chain geometric 6,000 • Population: Advanced HER2+ or HER2 - low breast cancer 1 me
Slide 9: From Antibodies to Tumour Killing
From Antibodies to Tumour Killing First functional signals Antibodies raised by ES2B - C001 engaged three separate tumour - killing mechanisms in feasibility testing. The same assays are now running on Phase I patient serum. WHAT COMES NEXT The same three Damage the tumour Help immune cells Recruit
Slide 10: ES2B-C001: Development Strategy
ES2B - C001: Development Strategy Goal: Partnering/Value inflection upon clinical proof of concept — or earlier, if emerging data support it 2025 2026 2027 2028 2029 Phase I data maturation in 2026 Phase II: Proof of Concept in Breast Cancer Phase II design decision Corrected 1 September 2026: the P
Slide 11: Malaria Vaccine Trial Overview
Malaria Vaccine Trial Overview Trial completions and data highlights across ExpreS2 - enabled Oxford - led programmes Vaccines in trial Trial Phase Sites Trial status Completion (est.) Q2 update VAC - 085 I UK Concluded March 2025 ✓ Concluded 2025 Pfs48/45 in Matrix - M VAC - 099 Ib Burkina Faso Ful
Slide 12: Key Updates on Collaboration Projects
Key Updates on Collaboration Projects Largely grant - sponsored and consortium driven Nipah vaccine Mucosal influenza vaccine INDIGO influenza consortium In collaboration with the VICI - Disease Consortium In collaboration with the University of Multinational Horizon 2020 collaboration Copenhagen (M
Slide 13: Upcoming Catalysts
Upcoming Catalysts Multiple value - driving readouts anticipated over the next 12 - 18 months Phase I Business development / Targeting primary readout, including Phase II preparation ES2B - C001 translational studies, end - 2026 Outlicensing / (Breast cancer) Phase II Phase I Maintenance – booster a
Slide 14: Q2 and First Half 2026 Results
Q2 and First Half 2026 Results Financial results: income, costs, cash position 14
Slide 15: Q2 2026 Financial Highlights
Q2 2026 Financial Highlights Operating income Operating loss Net loss mSEK 11.5 m SEK 12.0 mSEK 9.7 +238% vs Q2 2025 +2% vs Q2 2025 - 3% vs Q2 2025 Rights issue proceeds R&D spend Cash at 30 June mSEK 11.4 mSEK 32.4 1 mSEK 34.4 +483% YoY; VICI - Disease pass - through Before transaction costs includ
Slide 16: Income +238% YoY – Grants Boost Revenue
Income +238% YoY – Grants Boost Revenue SEK ‘000s Operating income Net sales (CRO) Other operating income (Grants) 11,547 9,536 12,000 4,000 10,000 Net sales Other operating income Grant income includes VICI - Disease 9,000 3,000 7,500 +238% subcontracting, offset +407% YoY +31% 2,011 in R&D costs Y
Slide 17: Expense Discipline: External manufacturing and clinical costs drove increased R&D
Expense Discipline: External manufacturing and clinical costs drove increased R&D SEK ‘000s Operating expense R&D costs (external) 0 0 -3,000 -6,000 -5,000 +483% -9,000 YoY -12,000 -10,000 -15,000 Includes VICI - Disease subcontracting — offset in income - 11,355 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1
Slide 18: Net Result For The Period
Net Result For The Period SEK ‘000s Q2 profit / loss YTD 2026 profit / loss YTD profit / loss 0 0 -2,500 -5,000 -5,000 -10,000 -7,500 -15,000 - 3% - 10% -10,000 YoY -20,000 YoY - 10,025 - 9,701 - 19,291 - 21,465 -12,500 -25,000 2025 2026 2025 2026 Q2 2025 → Q2 2026: drivers of improvement YTD 2025 →
Slide 19: Cash Development
Cash Development SEK millions 60 48.8 +11.1 47.6 45 - 1.1 36.9 +0.7 - 10.5 - 0.1 - 1.3 +24.9 +0.5 34.4 - 0.3 30 21.8 - 25.5 - 0.1 - 0.1 15 - 12.5 0 06/25 OpCF FinCF FX 09/25 OpCF FinCF FX 12/25 OpCF FinCF FX 03/26 OpCF FinCF InvCF FX 06/26 19
Slide 20: Cash Balance & Key Drivers (1Q24 – 2Q26)
Cash Balance & Key Drivers (1Q24 – 2Q26) SEK millions • Q2 2026 cash: mSEK 34.4 100 TO 10 • TO13 warrants Rights Warrants • Pricing period: Aug 20 - Sep 2, 2026 Issue 82 80 76 • Subscription period: Sept 7 - 21, 2026 Dividend 69 • Subscription price set during the Grant 60 pricing period, subject to
Slide 21: Q&A
Q&A Innovative immunotherapies for a healthier world investor@ expres2ionbio.com https://investor. expres2ionbio.com
Slide 22: Forward-looking statements and disclaimer
Forward - looking statements and disclaimer Important information This presentation contains forward - looking statements. The words “believe”, “expect”, “anticipate”, “intend” and “plan” and simi lar expressions identify forward - looking statements. All statements other than statements of historic
Slide 23: ExpreS2ion Biotech Holding AB
ExpreS2ion Biotech Holding AB Innovative immunotherapies for a healthier world c/o Mindpark Rönnowsgatan 8c www.expres2ionbio.com S - 252 25 Helsingborg www.expres2ionbio.com
ExpreS2ion Biotech Holding — Q2 2026 Earnings Presentation on 6ix