Slide 1: Q2 2026 report
Q2 2026 report August 27, 2026 1
Slide 2: Disclaimer
Disclaimer IMPORTANT: You must read the following before continuing. The following applies to this document, the oral presentation of the information in this document by Oncopeptides AB (the “Company”) or any person on behalf of the Company, and any question-and-answer session that follows the oral
Slide 3: Presenters
Presenters Sofia Heigis Henrik Bergentoft Chief Executive Officer Chief Financial Officer 3
Slide 4: Where we are right now
Where we are right now • Net sales of SEK 31.1m in Q2 2026 (SEK 19.2m in Q2 2025) • Cash position of SEK 157.6m • On track to positive cash-flow by 2027 Events April-June Events after the period • Preclinical data on novel NK-Cell engager presented at the • Oncopeptides receives list price for Pepax
Slide 5: Financial update
Financial update Henrik Bergentoft, CFO 5
Slide 6: Financial summary
Financial summary MSEK Apr-Jun Apr-Jun Jan-Jun Jan-Jun 2026 2025 2026 2025 • Revenue in the quarter grew Net sales 31.1 19.2 56.5 32.5 with 62% and 74% for the COGS six-month period -1.0 -0.4 -1.3 -0.3 Gross profit 30.1 18.8 55.2 32.1 • Gross margin at 98% for the six-month period confirms Expenses
Slide 7: Operating expenses trending down
Operating expenses trending down MSEK 120 • S&M cost for the quarter year was 40.8 (36.6) MSEK, costs relate to ongoing 100 commercialization activities in Europe, generating revenue growth in Germany, 76 81 MSEK Spain and Italy 80 MSEK • G&A cost for the quarter was 16.7 (18.6) MSEK,a decreas due t
Slide 8: Liquidity position
Liquidity position MSEK 350 300 • Cash was 158 MSEK at quarter end 250 • Liquidity position was strengthened by the rights issue completed in March, fuelling 200 158 MSEK the company with 167 MSEK after issue related costs 150 100 50 0 8
Slide 9: Business update
Business update Sofia Heigis, CEO 9
Slide 10: Why invest in Oncopeptides?
Why invest in Oncopeptides? Growth SEK ≈1.5B European Pipeline potential in momentum in market potential $8B+ Glioblastoma Europe with fully approved global market product Strategic expansion Pipeline assets in through multiple potential partnerships indications 10
Slide 11: Q2 announcements strengthening our investment case
Q2 announcements strengthening our investment case 62 % growth in Q2 YoY Application to enter third line submitted Growth SEK ≈1.5B European Pipeline potential in momentum in market potential $8B+ Glioblastoma Europe with fully approved global market product Window-of-opportunity study to launched,
Slide 12: European sales trajectory
European sales trajectory 35 80 30 70 60 25 50 Quarterly Full year 20 40 15 30 10 20 5 10 0 0 Full year Quarter over quarter Revenue, European sales, million SEK 13
Slide 13: European sales
European sales Q2 2023 Q2 2024 Q2 2025 Q2 2026 1000+ patients treated since EMA Inclusion in updated EHA/EMN Positive clinical experience approval in 2022 guidelines, in our wanted position triggers RWD publication to with 1B recommendation, is support peer-to-peer driving awareness, advocacy and re
Slide 14: Clinical positioning: where Pepaxti fits
Clinical positioning: where Pepaxti fits Unable to receive In-between Post-immunotherapy Immunotherapy immunotherapy failure Strategic option for patients Ideal "bridge" between RWD demonstrates Pepaxti can unable to receive immune-based therapies to be an alternative for patients immunotherapy due
Slide 15: EHA 2026
EHA 2026 Physical presence Oncopeptides booth allowed interactons with healthcare professionals from around the world Symposium Beyond immunotherapy: Exploring the treatment class of PDC and clinical realities Digital presence Social media and web efforts to amplify our visibility and messaging – be
Slide 16: Germany
Germany • Step up during the quarter in number of new patients per month • Potential to increase use in 4L and increase number of treatment cycles • Continued increase in number of prescribers Q2 2023 Q2 2024 Q2 2025 Q2 2026 17
Slide 17: Pepaxti experience continues to grow
Pepaxti experience continues to grow Continuous growth validates scale-up potential Cumulative number of unique Pepaxti prescribers Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 18 Number of prescribers are estimates based on ordering pharmacy, order dates
Slide 18: Italy
Italy • Continues to be a strong growth contributor • Most mature market in experience and 4L usage with estimated highest number of treatment cycles per patient based on sales data • Continued broadening of prescriber base Q2 2025 Q2 2026 19
Slide 19: Spain
Spain • Sales clear step up in June with sales level at all-time-high • Strike ongoing during the quarter, still no resolution Q2 2024 Q2 2025 Q2 2026 20
Slide 20: European commercialization
European commercialization Phase I – completed ≈55% Phase II – completed Market exclusivity until Phase II – pending 2037 ≈35% Phase III Partnership with SALUS ≈10% Phase IV announced during Q2 2026, impacting timeline % of market potential per phase out of SEK ≈1.5 billion estimated annual market p
Slide 21: Expanding Pepaxti into third-line multiple myeloma
Expanding Pepaxti into third-line multiple myeloma Type II variation application validated by EMA | CHMP opinion expected Sep-Nov • Current indication • Future potential indication • 4th Line+ treatment • 3rd line+ treatment • Adult patients with RRMM who have • Adult patients with RRMM who have rec
Slide 22: Expanding Pepaxti into third-line multiple myeloma
Expanding Pepaxti into third-line multiple myeloma Type II variation application validated by EMA | CHMP opinion expected Sep-Nov Commercial and financial multiplier Market access and pricing Unmet medical need and scalability • 2x addressable patients • Preserves value • Complementary MoA Removes t
Slide 23: Expanding Pepaxti into third-line multiple myeloma
Expanding Pepaxti into third-line multiple myeloma Type II variation application validated by EMA | CHMP opinion expected Sep-Nov May-July 2026 Sep-Nov 2026 +30-60 days post + 1 month from EC opinion (if positive) decision Type II Variation Submission to EMA CHMP opinion European Commission Reimburs
Slide 24: Partnerships
Partnerships © oncopeptides
Slide 25: Pepaxti commercialization and partnership landscape
Pepaxti commercialization and partnership landscape Reimbursed Available via partner Grow geographically, Market access pending partner smartly, and Regulatory process ongoing by partner innovate purposefully Partnership discussions ongoing 26
Slide 26: Salus partnership
Salus partnership Enables unlocking CEE regional demand significantly earlier than planned, in a capital-efficient manner • Agreement covers 11 countries in CEE: Slovenia, Croatia, Hungary, Slovakia, the Czech Republic, Poland, Bulgaria, Romania, Lithuania, Latvia, and Estonia. • The launch sequence
Slide 27: Pipeline
»~ ~ > ‘‘ Pipeline © oncopeptides
Slide 28: Pipeline assets
Pipeline assets PDC: A global, multi-indication opportunity building onto our existing innovation OPD5 – Global opportunity with potential for additional indications OPDC3 – Designed for enhanced selectivity, global opportunity with potential in solid tumors SPiKE: A platform with exciting potential
Slide 29: The Glioblastoma "Window of Opportunity" a high reward leap
The Glioblastoma "Window of Opportunity” a high reward leap Solving the #1 A Smarter Way Low Cost, Company Challenge to Test Massive Impact Transformation The "blood-brain Launching a For a relatively Our glioblastoma barrier" prevents focused study of low investment, program drives most drugs from
Slide 30: The Glioblastoma "Window of Opportunity"
The Glioblastoma "Window of Opportunity” During Q2 Status Assessment of first patient by Safety Review Committee completed Next steps Additional patient recruitment and data analysis 31
Slide 31: Preclinically, PDCs succeed where TMZ fails
Preclinically, PDCs succeeds where TMZ fails, and is designed to overcome key barriers that have limited the success of other drugs Blood BARRIER Sturdy Therapy Cold Brain Tumour Resistance Tumour Barrier Most agents exhibit no CLINICAL anti-tumor activity at Limited drug distribution Reduction of L
Slide 32: In closing
In closing
Slide 33: Q&A
Q&A
Slide 34: Bringing hope through science
Bringing hope through science © oncopeptides