Slide 1: First quarter 2026 financial results
Pharming Group N.V. First quarter 2026 financial results May 7, 2026 NASDAQ: PHAR | EURONEXT Amsterdam: PHARM
Slide 2: Introduction
CEO Fabrice Chouraqui Chief Executive Officer Introduction
Slide 3: Speakers
SPEAKERS Fabrice Chouraqui Leverne Marsh Anurag Relan, MD Kenneth Lynard Chief Executive Officer Chief Commercial Officer Chief Medical Officer Chief Financial Officer
Slide 4: Forward-looking statements
Forward-looking statements This presentation may contain forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual resu
Slide 5: First quarter 2026 financial and business update
First quarter 2026 financial and business update Revenues RUCONEST Joenja • RUCONEST® revenue -15% largely due to anticipated Amounts in US$ million inventory drawdowns and planned non-US markets exit 79.1 10.5 72.4 14.1 • Joenja® key growth driver – strong momentum in the U.S. 68.6 58.4 and interna
Slide 6: Combination of commercial and pipeline assets poised to deliver strong value creation
Combination of commercial and pipeline assets poised to deliver strong value creation Commercial Pipeline RUCONEST® HAE (recombinant C1 esterase inhibitor) Differentiated value proposition Highly specific manufacturing process PIDs Joenja® (leniolisib) for APDS > $1B leniolisib for PIDs / CVID reven
Slide 7: Commercial update
CCO Leverne Marsh Chief Commercial Officer Commercial update
Slide 8: RUCONEST Q1 update – anticipated revenue variability
RUCONEST® Q1 update – anticipated revenue variability RUCONEST® revenue (global) RUCONEST® U.S. new prescribers • Revenue -15% primarily due to ➢ Anticipated inventory drawdowns (-8%) Amounts in US$ million 26 ➢ Planned exit ex-U.S. (-3%) 24 68.6 22 23 • Continued growth drivers 20 20 18 ➢ New presc
Slide 9: RUCONEST - a cornerstone on-demand treatment for high burden HAE patients
RUCONEST® - a cornerstone on-demand treatment for high burden HAE patients High Burden High Burden of of HAE HAE One and Done: 97% of acute 97% attacks needed just one dose of RUCONEST®1 Unpredictable, Potentially Time of taking RUCONEST® Life-Threatening Swelling Relief That Lasts: Stopped 93% Symp
Slide 10: Joenja Q1 update – strong double-digit growth in 12y+ APDS
Joenja® Q1 update – strong double-digit growth in 12y+ APDS Joenja® revenue (global) U.S. patients on Joenja® • Strong YoY increase in APDS U.S. EU & RoW patients on therapy in the US 127 ➢ 127 patients (+25% vs 1Q25) Amounts in US$ million 120 114 116 14.1 2.5 • Identifying APDS patients at pace 10
Slide 11: Joenja expansion from APDS foundation into broad blockbuster immunology opportunity
Joenja® expansion from APDS foundation into broad blockbuster immunology opportunity 4. Broad PIDs/CVID Opportunity 3. International •Genetic PIDs with immune dysregulation APDS Expansion (>2,500 U.S. patients) •Focused geo-expansion that •CVID with immune 2. U.S. APDS doubles addressable dysregulat
Slide 12: R&D update
CMO Anurag Relan, MD Chief Medical Officer R&D update
Slide 13: Joenja (leniolisib) in pediatrics – clear path forward with FDA
Joenja® (leniolisib) in pediatrics – clear path forward with FDA Pediatric label expansion – sNDA for patients aged 4-11 U.S. CRL received January 30, 2026, with two issues raised by FDA • Clinical pharmacology • MAA Analytical batch testing for patients agedmethodology 12+ Type A meeting held Mar
Slide 14: CIS presentations highlight leniolisib compassionate use experience in CVID and APDS
CIS presentations highlight leniolisib compassionate use experience in CVID and additional insights in APDS CIS 2026 Annual Meeting | May 6-9, 2026 • Interim Safety and Efficacy Outcomes of an Open-Label Long-Term Extension Study of Treatment With PI3Kδ Inhibitor Leniolisib in Pediatric Patients Age
Slide 15: Leniolisib in PIDs/CVID
Leniolisib in PIDs/CVID PI3Kẟ imbalance contributes to immune dysregulation PI3Kẟ is a master regulator of Immune Shared pathology under the immune system dysregulation pathology the influence of PI3K Lymphoproliferation APDS p110δ >500 U.S. patients p85ɑ PI3Kδ AKT/PKB Autoimmunity FOXO Genetic PID
Slide 16: Leniolisib in PIDs/CVID: fully enrolled Phase II studies, readouts 2H 2026
Leniolisib in PIDs/CVID Fully enrolled Phase II studies, readouts 2H 2026 Two Phase II, dose range-finding studies Objectives designed in similar manner: Assess safety and tolerability • CVID with immune dysregulation: N=20 of leniolisib; confirm dosing strategy Single arm, open-label, multi-center
Slide 17: Leniolisib experience in CVID patients with immune dysregulation
Leniolisib experience in CVID patients with immune dysregulation Presented at CIS 2026 Annual Meeting • Six CVID/CVID-like patients with immune dysregulation received leniolisib via expanded access for a median 1.4 yrs (0.5–2.5 yrs) • Clinicians reported improvement across all manifestations shown,
Slide 18: Financial results and outlook
CFO Kenneth Lynard Chief Financial Officer Financial results and outlook
Slide 19: Financial highlights: 1Q 2026 vs 1Q 2025
Financial highlights: 1Q 2026 vs 1Q 2025 Revenues Adjusted (Non-GAAP) Cash flow from operations RUCONEST Joenja Operating profit (loss) Amounts in US$ million Amounts in US$ million Amounts in US$ million 79.1 2.0 10.5 72.4 0.8 * 0.2 14.1 68.6 58.4 (4.9) 1Q 2025 1Q 2026 1Q 2025 1Q 2026 1Q 2025 1Q 20
Slide 20: 2026 financial guidance and long-term capital outlook
2026 financial guidance and long-term capital outlook Revenue and operating expenses (in constant currency): FY 2026 Guidance Notes Total Revenues US$405 - 425 million • 8 - 13% growth, with quarterly fluctuations • +US$60M R&D to advance pipeline Operating Expenses US$330 - 335 million • -US$9M G&A
Slide 21: Conclusion
CEO Fabrice Chouraqui Chief Executive Officer Conclusion
Slide 22: Building momentum across commercial, financial and pipeline
Building momentum across commercial, financial and pipeline Q1 Financial Strategic growth High value Building a leading rare Performance priorities pipeline disease company Joenja® commercial and Unlock Joenja® APDS Joenja® (leniolisib) for Proven commercial and regulatory momentum growth catalysts
Slide 23: Q&A
Q&A Fabrice Chouraqui Leverne Marsh Anurag Relan, MD Kenneth Lynard Chief Executive Officer Chief Commercial Officer Chief Medical Officer Chief Financial Officer
Slide 24: www.pharming.com
www.pharming.com NASDAQ: PHAR | EURONEXT Amsterdam: PHARM
Slide 25: Appendix
Pharming Group N.V. Appendix
Slide 26: Statement of profit and loss
Statement of profit and loss 26
Slide 27: Balance sheet – assets
Balance sheet — assets Pharming’ March 31, 2026 December 31, 2! Non-current assets Intangible assets 130,988 135,538 Property, plant and equipment 6,880 7,233 Right-of-use assets 16,218 16,738 Long-term prepayments 93 94 Deferred tax assets 30,668 31,017 Investment accounted for using the equity met
Slide 28: Balance sheet – liabilities
Balance sheet – liabilities 28
Slide 29: Cash flow (1/2)
Cash flow (1/2) Q 2026 Q20 Profit (loss) before tax (4,753) (11,788) Adjustments to reconcile net profit (loss) to net cash used in operating activities: Depreciation, amortization, impairment of non-current assets 3,116 2,582 Equity settled share based payments 3,225 2,576 Loss (gain) on disposal o
Slide 30: Cash flow (2/2)
Cash flow (2/2) Capital expenditure for property, plant and equipment (238) (282) Investment intangible assets - (6)! Investment in associates using the equity method - (411) Purchases of marketable securities (102,646) = Proceeds from sale of marketable securities 18,124 67,866 Acquisition of a sub