Slide 1: Roche
Slide 2: Forward-looking statements disclaimer
This presentation contains certain forward-looking statements. These forward-looking statements may be identified by words such as ‘believes’, ‘expects’, ‘anticipates’, ‘projects’, ‘intends’, ‘should’, ‘seeks’, ‘estimates’, ‘future’ or similar expressions or by discussion of, among other things, str
Slide 3: Roche: Strong financial performance & pipeline momentum
Roche: Strong financial performance & pipeline momentum Thomas Schinecker | CEO Roche Group Octavian Seminar 15 January 2026
Slide 4: Financial Performance, Strategy, Pharma Pipeline, Outlook
Financial Performance Strategy Pharma Pipeline Outlook
Slide 5: YTD Sep 2025: Consistent strong growth
YTD Sep 2025: Consistent strong growth Diagnostics impacted by healthcare pricing reforms in China Group sales growth %CER +15% +10% +9% +9% +9% +9% +8% +6% +6% +5% +2% +1% +2% +1% 0% COVID-19 pandemic Pandemic phase out Post-pandemic Base business: +1%* Base business: +8%* Business growth: +8%* 202
Slide 6: YTD Sep 2025: Strong Pharma sales driving Group growth
YTD Sep 2025: Strong Pharma sales driving Group growth Diagnostics division growing +1% impacted by healthcare pricing reforms in China YTD Sep YTD Sep 2025 2024 Change in % CHFbn CHFbn CHF CER Pharmaceuticals Division 35.6 34.3 4 9 Diagnostics Division 10.3 10.7 -4 1 Roche Group 45.9 45.0 2 7 CER:
Slide 7: YTD Sep 2025: Diversified set of key growth drivers
YTD Sep 2025: Diversified set of key growth drivers Phesgo, Xolair, Hemlibra, Vabysmo, Ocrevus and Polivy driving growth; 17 blockbusters in FY 2024* Phesgo 54% Xolair 34% Hemlibra 12% Vabysmo 13% Ocrevus 7% Polivy 40% Xofluza 163% Evrysdi 8% Columvi 81% Alecensa 8% Gazyva 13% Elevidys 64% Itovebi n
Slide 8: HY 2025: Group core operating profit
HY 2025: Group core operating profit Core operating profit higher by +11% driven by higher sales and effective cost management 2025 2025 vs. 2024 CHFm Abs. CERm CER growth Sales 30,944 +2,166 7% Other revenue 905 +15 2% Cost of sales -7,562 -588 8% Sales volume: +12% R&D -6,074 +66 -1% SG&A -6,508 -
Slide 9: 2025 guidance raised in Q3
2025 guidance raised in Q3 LOE impact of CHF 0.8bn (CER, updated from CHF 1.0bn) expected for 2025 Group sales growth1 Mid single digit sales growth High single digit to low double digit Core EPS growth Core EPS growth1 (from high single digit growth) Dividend outlook Further increase dividend in Sw
Slide 10: Financial Performance, Strategy, Pharma Pipeline, Outlook
Financial Performance Strategy Pharma Pipeline Outlook
Slide 11: Overview of key strategic initiatives
Overview of key strategic initiatives Significant progress made across the entire organization Ten-Year Ambitions Group Strategy Group Strategy AI / Data Digital Health Sustainability People & Culture Pharma Strategy Diagnostics Strategy Divisional Strategies R&D Excellence Launch Excellence Operati
Slide 12: Overview of key strategic initiatives
Overview of key strategic initiatives Significant progress made across the entire organization Ten-Year Ambitions Group Strategy Group Strategy AI / Data Digital Health Sustainability People & Culture Pharma Strategy Diagnostics Strategy Divisional Strategies R&D Excellence Launch Excellence Operati
Slide 13: The future of healthcare
The future of healthcare Disease burden and system pressures increase, while care delivery becomes more decentralized Increasing disease burden Healthcare system pressures 50% of disease burden in cardiovascular-metabolism, Average healthcare cost grew above GDP growth the oncological, and neurologi
Slide 14: Disease burden increase and decentralization trend
Disease burden increase and decentralization trend Priority areas to account for ~50% of disease burden; care delivery growing faster in outpatient setting ~50% of disease burden in shared priority areas by 2035 Outpatient setting to grow 3x faster vs. hospital setting Increase of Disability-adjuste
Slide 15: The future of healthcare: Business implications
The future of healthcare: Business implications How we address these trends through our strategy Increasing disease burden Healthcare system pressures Innovate and offer holistic solutions to improve outcomes Prioritize disease areas with high societal burden and reduce cost Decentralized care deliv
Slide 16: Group Strategy: Prevent, Stop, Cure
Group Strategy: Prevent, Stop, Cure Roche is uniquely positioned to address patient and healthcare system needs across the patient journey Value to patients and healthcare systems by improving outcomes and reducing costs Diagnostics Pharma Inf. Diseases CVRM Oncology Neurology Immunology Ophthalmolo
Slide 17: Overview of key strategic initiatives
Overview of key strategic initiatives Significant progress made across the entire organization Ten-Year Ambitions Group Strategy Group Strategy AI / Data Digital Health Sustainability People & Culture Pharma Strategy Diagnostics Strategy Divisional Strategies R&D Excellence Launch Excellence Operati
Slide 18: Transformation of Roche Diagnostics 2020-2021
Transformation of Roche Diagnostics 2020-2021 Simplified operating model and shift of investments; increased employee engagement Innovation & financial success Operating model Culture Engagement & diversity • Increased R&D investments by 500m CHF • Simplified processes and • Updated operating princi
Slide 19: Roche Diagnostics: Key technologies to drive future growth
Roche Diagnostics: Key technologies to drive future growth New SBX data at ASHG, including world record for fastest DNA sequencing technique AXELIOS 1: Roche sequencing cobas® i601 Mass Spec Accu-Chek® SmartGuide NPC platforms solution Molecular Lab Core Lab Near Patient Care Near Patient Care cobas
Slide 20: Recent FDA PMA/BLA approvals
Recent FDA PMA/BLA* approvals We received >50% of overall FDA approved innovative IVD solutions in the last 6 years New FDA PMA/BLA approvals (Roche vs. competitors) 43 38 19 32 26 25 11 29 19 9 15 24 13 21 16 9 11 6 2020 2021 2022 2023 2024 2025** Roche Competitors * PMA/BLA=Premarket Approval/Biol
Slide 21: Overview of key strategic initiatives
Overview of key strategic initiatives Significant progress made across the entire organization Ten-Year Ambitions Group Strategy Group Strategy AI / Data Digital Health Sustainability People & Culture Pharma Strategy Diagnostics Strategy Divisional Strategies R&D Excellence Launch Excellence Operati
Slide 22: Our Pharma Strategy focuses on five TAs
Our Pharma Strategy focuses on five TAs Our focus therapeutic areas address ~60% of the global burden of disease and Mns of patients worldwide Global Burden of Disease in 2023 and 2035 Growth, Number of people living with diseases in our (million DALYs) p.p % committed therapeutic areas globally 3 (
Slide 23: Roche Pharma: Key priorities for 2026
Roche Pharma: Key priorities for 2026 Sustain momentum through commercial excellence, key launches and portfolio rejuvenation Maximize on-market portfolio Deliver key launches Progress post Bar NMEs Current on-market portfolio to deliver Upcoming launches to support Prepare entry into broad scale DA
Slide 24: The Bar is applied to each asset entering and progressing in the portfolio
The Bar is applied to each asset entering and progressing in the portfolio Applying rigor to our R&D resource allocation Follow the science Intentional focus in end-to-end disease areas where we develop depth of with emphasis on breakthrough innovation and patient value + experience and operational
Slide 25: Performance, Strategy, Pipeline, Outlook
Performance Strategy Pipeline Outlook
Slide 26: Pharma R&D Excellence: Portfolio shift
Pharma R&D Excellence: Portfolio shift Higher value and more risk-balanced portfolio as a result of the introduction of the Bar Risk-reward profile of assets with Phase III Go decisions post introduction of the Bar vs pre the Bar1, NMEs only PTS (Ph III) illustrative Value (aNPV) Ph III Go pre the B
Slide 27: Embracing bold objectives: Our 2030 R&D ambitions
Embracing bold objectives: Our 2030 R&D ambitions Toward top quartile industry performance Increase average peak year sales of Increase Ph 0 initiations/yr1: Increase Ph III success rate: pipeline assets: +50% +22%p +50% Success Volume Value rate Effectiveness R&D Excellence Costs Cycle time Efficie
Slide 28: Our cumulative impact since 2023
Our cumulative impact since 2023 Added 37 assets total from early CHF +0.5bn1 average peak year sales 12 successful Ph III readouts in 2025 R&D and high-value partnerships across late-stage portfolio (75%) & high PTS Ph III trials ongoing (+20 in 2025) Success Volume Value rate Effectiveness R&D Exc
Slide 29: Significant progress made on the pipeline
Significant progress made on the pipeline Pharma Ambition Value Innovation Ten-Year Ambition 20 +40% 80% +60% Total +9%p vs FY ‘23 portfolio value 67% 10 +45% 10 transformative +55% avg. peak sales per 67% late-stage projects medicines1 launched pipeline project2 with BID potential2 >10 additional N
Slide 30: Program acceleration
Program acceleration R&D Excellence acceleration impact scaled beyond fast track programs Not exhaustive Delivering on fast track (FT) acceleration… …while scaling learnings beyond FT programs Faster to filing 10% sites VEGF-IL6 9 months trontinemab 21 months activated DutaFab faster to Ph3 FPI 3 mo
Slide 31: 10 NMEs new to Ph III in 2025
10 NMEs new to Ph III in 2025 5 Ph III decisions taken in Q3: CT-388, CT-868, zilebesiran, cevostamab and HER2 TKI NXT007 in cevostamab in HER2 TKI in trontinemab in prasinezumab in zosurabalpin in zilebesiran in CT-388 in CT-868 in pegozafermin in hemophilia A R/R MM HER2+ BC AD PD MDR bacterial in
Slide 32: Pipeline acceleration through partnering and acquisitions
Pipeline acceleration through partnering and acquisitions Stringent R&D budget control in combination with BD to catalyze portfolio rejuvenation * Onc, Immuno & Ophthalmology Onc/Heme Onc/Heme Immunology CVRM CVRM CVRM CVRM Neuro Allogeneic Anti-TL1A siRNA CDKi Dual GLP- Long-acting Wnt agonist HER2
Slide 33: Significant positive Ph III news in Q4 2025
Significant positive Ph III news in Q4 2025 Gazyva: Positive Ph III results in INS Fenebrutinib: Positive Ph III results in RMS Giredestrant: Positive Ph III results in (INShore) and SLE (ALLEGORY) (FENhance 2) and PPMS (FENtrepid) adjuvant ER+ BC (lidERA) Ind. Ph I Ph II Ph III Ind. Ph I Ph II Ph I
Slide 34: Giredestrant: Positive Ph III (evERA) in ESR1m and ITT post-CDKi ER+ mBC
Oncology/Hematology Giredestrant: Positive Ph III (evERA) in ESR1m and ITT post-CDKi ER+ mBC Potential to be the first only-oral SERD combination therapy in the post-CDKi setting Ph III (evERA) INV-PFS results in post CDK4/6i ER+/HER2- mBC1 ESR1m population ITT population Giredestrant + SOC ET + Gir
Slide 35: Giredestrant: Positive Ph III (lidERA) results in adjuvant ER+/HER2- BC
Oncology/Hematology Giredestrant: Positive Ph III (lidERA) results in adjuvant ER+/HER2- BC First and only oral SERD to show superior iDFS in the adjuvant setting Ph III (lidERA) iDFS results in adjuvant ER+/HER2- BC1 100 80 100 97.7% 94.6% Giredestrant SOC ET 96.9% 92.4% n = 2084 n = 2086 60 IDFS (
Slide 36: Performance, Strategy, Pipeline, Outlook
Performance Strategy Pipeline Outlook
Slide 37: Roche delivered consistent growth throughout the last decade
Roche delivered consistent growth throughout the last decade Increased diversification with 17 blockbusters in Pharma CAGR at CER* 70 +5% Sales 60 +8% Core EPS Ronapreve 50 Sales in CHFbn (CER) 40 Pharma 30 20 Avastin, Herceptin, MabThera/Rituxan Dia COVID-19 10 Diagnostics 2015 2016 2017 2018 2019
Slide 38: A solid base to deliver long-lasting future growth
A solid base to deliver long-lasting future growth Significant upside potential due to Ph III successes for Gazyva in SLE, fenebrutinib in MS and giredestrant in ER+ BC illustrative Business development ▪ BD to accelerate pipeline rejuvenation ▪ In-house pipeline with upside potential Pharma pipelin
Slide 39: Consensus outlook 2024-29
Consensus outlook 2024-29* Growth driven by our young on-market portfolio; potential pipeline up-side Biosimilar gap (24-29) Consensus sales growth (24-29) Potential up-side 2026+ CHF Vabysmo 2.5bn Itovebi 1.1bn Ronapreve 015 bn Lucentis 0.1bn Polivy 1.0bn Assets with low to no coverage in Columvi 0
Slide 40: 2026: Key newsflow outlook
2026: Key newsflow outlook* Giredestrant + everolimus (post CDKi ER+/HER2- mBC) filed in US Compound Indication Milestone giredestrant adjuvant ER+/HER2- early BC US/EU filing giredestrant + everolimus post CDKi ER+/HER2- mBC EU filing/US approval Gazyva SLE US/EU filing Gazyva INS US/EU filing satr
Slide 41: Up to 19 NMEs with launch potential by 2030
Up to 19 NMEs with launch potential by 2030 3 NMEs approaching filing; Peak sales assumptions for fenebrutinib in MS raised 0.5-1bn peak sales 1-2bn peak sales afimkibart 2-3bn peak sales >3bn peak sales CT-388 IBD, AtD, AD, RA, MASH Obesity +/- T2D sefaxersen CT-868 IgAN T1D with BMI ≥25 zosurabalp
Slide 42: Doing now what patients need next
Doing now what patients need next