Slide 1: This is Sobi – Investor presentation October 2025
This is Sobi D Investor presentation October 2025
Slide 2: Forward-looking statements
Forward-looking statements This presentation contains certain forward-looking statements with respect to certain of the Company’s current expectations and projections about future events. These statements, which sometimes use words such as “intend,” “proposed,” “plan,” “expect,” and words of similar
Slide 3: Table of contents
Table of contents Slide Sobi Key facts and business model 4 Latest results – Q3 2025 and business area update 14 Sustainability at Sobi 25 Pipeline and upcoming news flow 29 IR contacts 32 Notes 33 3
Slide 4: Sobi: Global biopharma company developing and commercialising rare disease therapies
Sobi: Global biopharma company developing and commercialising rare disease therapies Clear strategy with proven execution: • Identify: Successful BD track record building pipeline via partnerships and acquisitions • Unlock: Deep clinical-stage pipeline spanning multiple rare disease areas • Level Up
Slide 5: Rare diseases are an attractive market and expected to grow faster than general pharma
Rare diseases are an attractive market and expected to grow faster than general pharma • ~10,000 rare disease have been identified with only an Sobi well positioned within rare diseases estimated 130 with marketed treatments • High medical unmet need and treatments offering Current Sobi areas signif
Slide 6: Business model: Level up
Business model Sobi is a global biopharma company unlocking Level up the potential of breakthrough therapies, transforming everyday life for people living with rare diseases. Level up access to life changing treatments Unlock Unlock best-in-class therapies Identify Identify unmet medical needs and b
Slide 7: Proven track record of successful partnerships
Sobi: Proven track record of successful partnerships 10+ deals in 8 years delivering double-digit growth Identify 1.Assets Sobi owned or had agreements (partnership/licensing) in place before 2017, such as Elocta, Kineret, Alprolix, Orfadin, Yondelis, and Kepivance 2.Assets Sobi acquired or made agr
Slide 8: Next wave of catalysts to drive growth
Next wave of catalysts to drive growth Unlock Asset Indication Phase 2 Phase 3 Registration C3G and IC-MPGN Pivotal VALIANT data presented at ASN Kidney Week Aspaveli/Empaveli 2024; Filed in EU February 2025 (pegcetacoplan) Post-HSCT-associated microangiography HLH / MAS in Stills disease FDA priori
Slide 9: Growth driven by core business area and all regions
Growth driven by core business area and all regions Level Up 9
Slide 10: Sobi's next growth horizon: multiple near-term opportunities
Sobi’s next growth horizon: significant progress with multiple near-term opportunities 4 5 Priority development projects in Key and areas of high unmet medical need planned launches* 1. Gamifant - IDS 1. Altuvoct in Hemophilia A 2. Vonjo - VEXAS 2. Gamifant - HLH/MAS 3. Vonjo - CMML 3. Aspaveli - C3
Slide 11: Looking ahead to Q4 2025/2026
Looking ahead to Q4 2025/2026 Anticipated major pipeline news flow 2025 outlook 2025 Q4 2026 Revenue Aspaveli – C3G & IC-MPGN Altuvoct – Haemophilia A o EU CHMP opinion o FREEDOM Phase 3b initial study data o Japan regulatory submission Aspaveli – C3G & IC-MPGN Anticipated to grow by a low Gamifant
Slide 12: Reason to invest
Reason to invest Sobi: Unlocking the potential of breakthrough therapies, transforming everyday life for people living with rare diseases Solid foundations Bright future • Track record of identification of assets at late • Growing on market portfolio with active launches stage (relatively derisked)
Slide 13: Management Team
Management Team Management Team sobi.com/executive committee Executive committee | Sobi 13
Slide 14: Latest results Q3 2025 and business area update
Latest results Q3 2025 and business area update
Slide 15: Key takeaways for Q3 2025
Key takeaways for Q3 2025 Outstanding Q3 growth of 21% in CER – driven by 39% growth in our strategic products portfolio Strong margin evolution delivering 47% adjusted EBITA We are rebasing our Vonjo strategy, taking an impairment of SEK 6.6bn, clear path to deliver future growth Significant pipeli
Slide 16: Outstanding growth of 21% CER in Q3 across all regions
Outstanding growth of 21% CER in Q3 delivered by our portfolio and across all regions Total net sales, SEK M, growth at CER Strategic products, SEK M Revenue by region Doptelet 1,408 Strategic1 +21% Foundational Beyfortus Europe 2,715 +21% 7,776 royalty 1,166 6,894 Altuvoct 769 North 5,001 Gamifant
Slide 17: Doptelet: Sobi's largest product continues to deliver strong momentum
Doptelet: Sobi’s largest product continues to deliver strong momentum, growing 46% at CER Doptelet SEK 1,408 M +46% Q3 Doptelet • Excellent efficacy coupled with less diet restriction has made Doptelet an important choice in ITP • The brand has evolved into a truly global franchise, with strong mome
Slide 18: Beyfortus: Strong fundamentals
Beyfortus: Strong fundamentals – with typical uncertainty on season start and inventory levels Beyfortus seasonal revenue Q3 SEK 1,166 M Fundamentals remain strong - based on survey of >100 Product High Beginning physicians shortage demand of season • RSV immunisation rates (57% for 2024/25 season1)
Slide 19: Altuvoct: Annualised haemophilia A sales approaching >SEK 6bn
Altuvoct: Annualised haemophilia A sales approaching >SEK 6bn and growth continues Haemophilia A sales SEK 1,581 M Value at stake +31% Q3 Best in class product Value captured • Effective once-weekly treatment for enhanced bleed protection & treatment burden as a key clinical benefit in normalisation
Slide 20: Gamifant: Accelerating growth with US launch in HLH/MAS
Gamifant: Accelerating growth with US launch in HLH/MAS and strong momentum across indications Gamifant SEK 733 M +98% Q3 MAS launch accelerating growth • First-ever treatment for adults and children with Macrophage Activation Syndrome (MAS) in Still's disease • US launch in Q3, Adult patient growth
Slide 21: Vonjo: Rebasing strategy, SEK 6.6bn impairment
Vonjo: We are rebasing our Vonjo strategy, taking an impairment of SEK 6.6bn, with a clear path to future growth Original expectation Q3 highlights Rebased strategy, base case Rebased strategy, upside case • Net sales SEK 307 M, -11% YoY, underlying demand strong +9% vs PY in Q3 Illustrative • GTN p
Slide 22: Q3 2025 Revenue and profit & loss
Q3 2025 Revenue and profit & loss Q3 Q3 Full-year Total revenue (SEK M) Amounts in SEK M 2025 2024 Change 2024 Haematology Immunology Specialty Care Total revenue 7,776 6,894 13% 26,027 7 776 Adjusted Gross profit1,2 6,214 5,604 11% 20,326 7 436 6 894 385 347 Adjusted Gross margin1,2 80% 81% 78% 311
Slide 23: Sobi Outlook 2025
Sobi Outlook 2025 Key drivers for Q4 2025 2025 Outlook Overall: • Year-to-date performance and strong momentum in Q3 Revenue Revenue: Anticipated to grow by a low • Higher-than-expected in-market double-digit percentage at CER performance, particularly for Doptelet and Gamifant and continued momentu
Slide 24: Sustainability at Sobi
@sob! Sustainability at Sobi
Slide 25: Sustainability strategy drives business priorities
Sustainability strategy drives business priorities Commitment to patients Responsible behaviour Sobi’s climate targets • Access to treatment • Safe, fair, and healthy work approved by SBTi • Patient centricity and engagement • Inclusive, diverse workplace • Patient and product safety • Lower environ
Slide 26: Commitment to patients
Commitment to patients For more details: Sustainability performance | Sobi Access to treatment Humanitarian aid Patient centricity ~ 42,000 people treated* with • Four international patient councils medicines from Sobi. to advise on early clinical development. • 525 employees completed training Cont
Slide 27: Always act responsibly
Always act responsibly For more details: Sustainability performance | Sobi Caring for employees Reduced footprint Responsible sourcing Compliance • Gender composition (%) A 77% reduction in CO2- intensity between 2016 and 95% Mean score 64 95% completed Code of 2023 (from 0,3 to 0,07 tonnes of Sobi’
Slide 28: Pipeline and upcoming news flow
Pipeline and upcoming news flow
Slide 29: Solid pipeline progress in Q3 2025
Solid pipeline progress in Q3 2025 Uncontrolled gout NASP FDA accepted Biologics Licence Application Paediatric immune thrombocytopenia (ITP) Doptelet FDA approved extension & new sprinkle formulation Immune thrombocytopenia (ITP) PMDA approved ITP indication Still’s disease Kineret Submitted to PMD
Slide 30: Progress to be continued in 2025-26
Progress to be continued in 2025-26 Anticipated pipeline news flow 2025 Q4 2026 Aspaveli – C3G & IC-MPGN Altuvoct – Haemophilia A o EU CHMP opinion o FREEDOM Phase 3b initial study data o Japan regulatory submission Aspaveli – C3G & IC-MPGN Gamifant – HLH/MAS in Still’s disease o EU regulatory decis
Slide 31: Sobi IR contacts
Sobi IR contacts Investors page on sobi.com Sobi IR contacts 31
Slide 32: Notes on Haemophilia and RSV business
Notes on Haemophilia and RSV business Haemophilia • Sobi and Sanofi collaborate on the development and commercialisation of Alprolix and Elocta/Eloctate. The companies also collaborate on the development and commercialisation of efanesoctocog alfa, or Altuviiio in the US. • Sobi has final developmen
Slide 33: Thank you
D Thank you Sobi is a trademark of Swedish Orphan Biovitrum AB (publ). © Swedish Orphan Biovitrum AB (publ) – All rights reserved Swedish Orphan Biovitrum AB (publ) SE-112 76 Stockholm • Sweden www.sobi.com 33