Slide 1: Quarter End Results
Quarter End Results Period Ended June 30, 2025 © Genmab 2025
Slide 2: Forward looking statement
Forward looking This presentation contains forward looking statements. The words “believe”, “expect”, “anticipate”, “intend” and “plan” and similar expressions identify forward looking statements. All statements other statement than statements of historical facts included in this presentation, inclu
Slide 3: Strategic Partnerships, Collaborations, and Licensing Agreements
Strategic Partnerships, Collaborations, and Licensing Agreements As part of Genmab’s First Half 2025 Financial Results presentation, we will discuss several products developed in collaboration with strategic partners or that are the result of product or technology licenses with other companies. This
Slide 4: Genmab in 2025: Strengthening Our Foundation, Investing in Future Success
Genmab in 2025: Strengthening Our Foundation, Investing in Future Success • Accelerating development of our late-stage pipeline • Maximizing potential of our commercialized medicines • Delivering on our capital allocation priorities • Exceptional financial performance For Investor audience only. Not
Slide 5: First Half 2025: Delivering on Our Commitments
First Half 2025: Delivering on Our Commitments 19% total revenue growth Focused investments & 56% operating profit growth delivering on our financial commitments Announced Share buybacks USD 2.9B cash Advances for high-impact completed programs For Investor audience only. Not for public information
Slide 6: Strength of Late-Stage Pipeline: Multibillion-dollar Opportunities
Strength of Late-Stage Pipeline: Multibillion-dollar Opportunities Addressable Recent Updates Program Indication Phase Status Anticipated Read-out Anticipated Launch Patient Population Opportunity • EPKINLY® 1L DLBCL • sBLA submitted to FDA, combination (EPCORE®DLBCL-2) 3 Fully Recruited 2026 2027 7
Slide 7: Phase 3 EPCORE FL-1 Clinical Trial Met Dual Primary Endpoints
Phase 3 EPCORE® FL-1 Clinical Trial Met Dual Primary Endpoints in Patients with Relapsed/Refractory Follicular Lymphoma •At pre-planned interim analysis, EPCORE® FL-1 met dual primary endpoints of ORR (p-value <0.0001) and PFS (HR 0.21, p-value <0.0001), demonstrating statistically significant and c
Slide 8: Rina-S Shows Encouraging Single-agent Antitumor Activity in Endometrial Cancer
Rina-S® Shows Encouraging Single-agent Antitumor Activity in Endometrial Cancer: ASCO 2025 Anti-tumor Activity Responses Over Time Overall Safety Rina-S® 100 mg/m2 Q3W showed Responses occurred early with median time to Rina-S® TEAEs consisted primarily of encouraging antitumor activity with a respo
Slide 9: Commercialized Portfolio Delivered Strong Performance in 1H
Commercialized Portfolio Delivered Strong Performance in 1H COMBINED COMMERCIALIZED MEDICINES SALES1 Executing Successful Launches across Markets $289M • Commercialized medicines contribute +60% consistently and meaningfully to overall revenue growth • Continued strong performance across $181M ongoi
Slide 10: EPKINLY: Sustained Growth Driven by Dual Indication Profile
EPKINLY®: Sustained Growth Driven by Dual Indication Profile NET SALES The Core Therapy Across B-cell Lymphomas 1H YoY • US • Accelerating adoption across sites of care validates $211M +74% benefit of off-the-shelf, dual indication option in 3L+ R/R DLBCL and FL • Japan RECENT MILESTONES • Launch of
Slide 11: TIVDAK: New Launches Expand Potential to More Patients
TIVDAK®: New Launches Expand Potential to More Patients NET SALES The Global Standard of Care in R/M Cervical Cancer 1H YoY • US • Strong, stable performance across sites of care $78M +30% • Japan • Early launch success and positive feedback from physicians underscore patient need RECENT MILESTONES
Slide 12: Delivering Our Medicines to More Patients
Delivering Our Medicines to More Patients Executing on our long-term commercial growth strategy Priorities Progress Investing in our longer-term • Building our commercial footprint through a strategic and disciplined approach, beginning with Europe commercialization capabilities Expanding utilizatio
Slide 13: First Half 2025 Financial Performance
First Half 2025 Financial Performance: 27% Recurring Revenue Growth Strong Recurring Revenue Strategic Growth Investments in R&D Profitability Powered by Execution Growth +19% +2% / +6%* +56% USD 1,640M USD 975M USD 993M USD 548M 3% 36 13% USD 1,382M +27% USD 352M 10% 939 10% 84% 80% H1 2024 H1 2025
Slide 14: 2025 Guidance Update
2025 Guidance Update: Improving Revenue Growth and Profitability YOY Growth* 15% total revenue growth vs previous guidance Previous Previous USD Millions Guidance Guidance Guidance Guidance 12%* driven by: Revenue 3,500 3,600 12% 15% • DARZALEX® royalties of $2.3B to $2.4B based on net sales 2025 Ra
Slide 15: Summary: Strong Financial Foundation Positions Genmab for Growth
Summary: Strong Financial Foundation Positions Genmab for Growth Growing recurring Significant growth Focused and revenue streams and opportunities supported disciplined investment significant underlying by our capital allocation approach profitability strategy For Investor audience only. Not for pu
Slide 16: 2025 Priorities
2025 Priorities Program Indication Event Anticipated Timing • Advance late-stage pipeline assets: JP regulatory 1Q 2025 EPKINLY® epcoritamab, Rina-S®, acasunlimab 3L+ R/R FL decision & launch (Approved January) • Expand our pipeline through organic TIVDAK® 2L R/M cervical cancer EU regulatory 20
Slide 17: Q&A Upcoming Investor Events
Q&A Upcoming Investor Events Virtual Handelsbanken Life Science Innovation Day, August 26, 2025 JP Morgan European CEO Call Series, September 4, 2025 Morgan Stanley Global Healthcare Conference, September 9, 2025 BofA Global Healthcare conference, September 23, 2025 © Genmab 2025
Slide 18: Appendix
Appendix © Genmab 2025 18
Slide 19: Condensed Income Statement: Six Months Ended June
Condensed Income Statement: Six Months Ended June 30 • 19% increase in revenue & 27% increase in recurring revenue • 6%* growth in investment driven by continued commercialization, development and expansion of late-stage development assets EPKINLY, Rina-S, acasunlimab *H1 2024 Operating Expenses inc
Slide 20: USD 2024 Consolidated Income Statement
USD 2024 Consolidated Income Statement (Unaudited) (USD million) Q1 2024* Q2 2024* Q3 2024* Q4 2024* Full Year 2024* Revenue 603 779 816 923 3,121 Cost of product sales (27) (28) (40) (48) (143) Research and Development expenses (335) (361) (336) (382) (1,414) Selling, general and administrative exp
Slide 21: USD 2024 Consolidated Balance Sheet
(USD million) January 1, 2024* (USD million) January 1, 2024* USD 2024 Consolidated Intangible assets 15 Share capital Share premium 10 1,942 Property and 142 Balance Sheet (Unaudited) equipment Other reserves (2) Right-of-use assets 102 Retained earnings 2,736 Receivables 9 Shareholders’ equity 4,6