Expres2ion Biotech Holding Ab · OMXSTO:EXPRS2
Expres2ion Biotech Holding Ab — H1 2025 Earnings Presentation
22 slides from Expres2ion Biotech Holding Ab's earnings presentation, Aug 21, 2025
Slide 1: Half-Year Report Webcast
expreS2ion BIOTECH ‘Tbe Half-Year Rep ay ~~ Webcast ‘ . Innovati vaccines fc healthier world Bent Frandsen — CEO ) ll, Keith Alexander - C ¥ fa STO: EXPRS2 sa, \ * q « 7 in
Slide 2: Agenda
expreSeion BIOTECH Agenda * Strategy & Pipeline * Financial results * Q&A Note: Ths presentation may contain forwardHooking statements; please see dscloimer at end
Slide 3: Building momentum in H1 2025
Building momentum in H1 2025
Slide 4: Four Pillars Driving Our 2025 Strategy
expreSeion BIOTECH Four Pillars Driving Our 2025 Strategy + Deliver on ES2B- + Oxford (Malaria) cool + VICI (Nipah) + Copenhagen (Influenza) - INDIGO (Influenza) Acwemeing) Intensifying our > vaccine Pepeling collaborations WY Proving new Growing our concepts & CRO business enhancing platform + Leve
Slide 5: Strategic Focus: Development updates since Q1 2025
expreSeion BIOTECH Strategic Focus Development updates since Q1 2025 Pipeline update LOI with WuXi Vaccines University of Oxford Malaria program update Serum Institute of India progress ES2B-C001 Protocol Amendment submission + AdaptVac mRNA Platform milestone * To enable combination testing with AD
Slide 6: ES2B-C001 - First-in-Human Trial Progress
expreSeion ES2B-C001 - First-in-Human Trial Progress _ Open-label trial with ES2B-CO001 alone and combined with adjuvant Trial Design Sites/Inclusion: Medical University of Vienna activated; 2 new sites in initiation. Enrolling HER2-positive and HER2-low metastatic breast cancer patients (post-2nd l
Slide 7: Recruitment Momentum
expreSeion BIOTECH Recruitment Momentum Access Expanded, Uptake Accelerating Regulatory Approval Vienna Network New sites ADCs enabled 5 clinics . / : 2 additional sites Site expansion Direct referrals 7
Slide 8: Potential Development Path
expreScion Potential Development Path (Subject to lon Phase | Results) Phase II could begin in 2027; accelerated timeline under evaluation 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 Phase! in Patients iq with Breast Cancer Phase II in Patients wit 4 Breast Cancer E Concurrent Phase
Slide 9: University of Oxford Malaria Vaccine Candidates
University of Oxford Malaria Vaccine Candidates New trials, updated timelines and recruitment progress expreSeion BIOTECH Vaccines in trial Trial abbreviation Phase Sites Trial status Estimated completion : ; VAC-085 | Oxford, UK Concluded vy March 2025 Pfs48/45 in Matrix-M VAC-099 Ib INSTech, Burki
Slide 10: Update on Other Programs
Update on Other Programs Largely grant-sponsored and consortium driven expreS 2ion BIOTECH Nipah/Hendra vaccine with the VICI- Disease Consortium + 100% grant funded to Phase |/Ila completion + Lead antigen selection in progress + Progress in analytical method development + Initiation of a cGMP-comp
Slide 11: We Are a Platform-Based Vaccine Company
expreSeion BIOTECH We Are a Platform-Based Vaccine Company Multiple shots on goal across cancer and infectious diseases, powered by our ExpreS2 platform Target Pre-clinical DISEASE Project/Target ID Identification Pharmacology _ cGMP / Tox Phase | Phase Il Phase ill Collaboration Partner Platform 10
Slide 12: Upcoming Catalysts
expreScion BIOTECH Upcoming Catalysts Expected Data Readouts & Deals on the Horizon NS Clinical & Pipeline Data + ES2B-CO01: Safety/tolerability readout + ES2B-CO01: Immunogenicity & early efficacy signals (if observable at this early stage) + Oxford malaria trials data readouts — Clinical results f
Slide 13: Q2 2025 & H1 2025 Financial Results
Slide 14: Net sales and other operating income
Net sales Other operating income 1Q23 3Q23 1Q24 3Q24 1Q25 1Q23 3Q23 1Q24 3Q24 1Q25
Slide 15: Expense Discipline: External R&D spend lower, cost base streamlined
Expense Discipline: External R&D spend lower, °*?'8si28 cost base streamlined SEK ‘000s Operating expense R&D costs (external) ie} fo} a P| -5,000 | | | | I -10,000 ———— 10% YoY -10,000 -15,000 ly -20,000 Volatile & dependent upon pipeline activities 1Q23 2Q23 3Q23 4Q23 1024 2Q24 3Q24 4Q24 1925 2Q25
Slide 16: Net Result For The Period
Net Result For The Period SEK ‘000s 2Q profit / loss 5,000 2,537 0 | -5,000 -10,000 -10,025 -15,000 -20,000 -25,000 2024 2025 YTD profit / loss 5,000 expreSeion BIOTECH 10,316 2024 2025
Slide 17: Cash Development In 2025
expreSeion BIOTECH Cash Development In 2025 SEK millions Q2 2025 December 2024 1Q Operations 1Q FX March 2025 2Q Operations —2Q Financing 2Q FX June 2025
Slide 18: 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25
• 88 • 82 77 76 72 69 • 60 58 58 • 49 • 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25
Slide 19: TO Warrants — Investor Opportunity
TO 11 Warrants — Investor Opportunity expreSeion BIOTECH * Warrant terms * Background * 40 warrants : 1new share * Issued in 2024 rights issue (with TO 10s) * Exercise price: 70% of VWAP (Sept 1-12, + Listed & freely tradeable 2025) * Open to all investors * Floor: SEK 4.44 | Cap: SEK 70.00 * Calcul
Slide 20: Meet Us — Upcoming Investor Events
Meet Us — Upcoming Investor Events expreSeion BIOTECH A chance to ask questions about our strategy and the TO 11 warrants Date Event Location Speaker 27 August ‘Shonen Uselsrew Lira serene. Copenhagen CEO Bent Frandsen Investor Conference 29 August ProHearings Capital Market Day Stockholm and Virtua
Slide 21: Q&A
expreSceion BIOTECH Q&A Innovative vaccines for a _ investor@ expres2ionbio.com https://investor. expres2ionbio.com
Slide 22: Disclaimer
expreScion BIOTECH Disclaimer This presentation does not constitute or form part of any offer or invitation to purchase or subscribe for, or any offer to underwrite or otherwise acquire, any shares or any other securities in ExpreS2ion Biotech Holding AB (the “Company"). Neither shall the presentati
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