Slide 1: Meet AZN Management: ERS 2026
Meet AZN Management: ERS 2026 Conference call and webcast for investors and analysts 8 September 2026 1
Slide 2: Cautionary statements regarding forward-looking statements
Cautionary statements regarding forward-looking statements In order, among other things, to utilise the 'safe harbour' provisions of the US Private Securities Litigation Reform Act of 1995, AstraZeneca (hereafter 'the Group') provides the following cautionary statement: This document contains certai
Slide 3: Meet AZN Management @ ERS – agenda
Meet AZN Management @ ERS – agenda Furthering the AstraZeneca ambition with Ruud Dobber, EVP, BioPharmaceuticals Business R&I Sharon Barr, EVP, BioPharmaceuticals R&D Tozorakimab in COPD – Phase III: OBERON Frank C. Sciurba, MD Professor of Pulmonary and Critical Care Medicine, and TITANIA Universit
Slide 4: Furthering the AstraZeneca ambition with R&I
Furthering the AstraZeneca ambition with R&I Ruud Dobber EVP, BIOPHARMACEUTICALS BUSINESS Sharon Barr EVP, BIOPHARMACEUTICALS R&D 4
Slide 5: Ambition – $80bn Total Revenue by 2030 & sustained 2030+ growth
Ambition – $80bn Total Revenue by 2030 & sustained 2030+ growth Beyond 2030 Working on “today, tomorrow and the day after" ADCs and Radioconjugates Illustrative only, not to scale Cell therapy and T-cell engagers Launching key NMEs $80bn Gene therapy AZD0120 saruparib Etcamah surovatamig Next-genera
Slide 6: R&I portfolio to contribute meaningfully to 2030 Ambition and growth thereafter
R&I portfolio to contribute meaningfully to 2030 Ambition and growth thereafter Six key growth drivers in R&I portfolio Additional LCM indications in Phase III CROSSING | Tezspire JASMINE | Saphnelo eosinophilic esophagitis idiopathic inflammatory myopathies H2 2027 EMBARK / JOURNEY | Tezspire DAISY
Slide 7: AstraZeneca respiratory portfolio spans the full spectrum of asthma and COPD care
AstraZeneca respiratory portfolio spans the full spectrum of asthma and COPD care Primary care-led Specialty care-led Increasing severity INHALED NOVEL ORAL/INHALED BIOLOGIC ~54M patients ~3.6M patients Airsupra sunakiment — iTSLP Fab Fasenra Asthma Breztri Tezspire Symbicort tozorakimab — IL-33 inh
Slide 8: COPD remains a disease with high unmet need which places significant burden on healthcare systems
COPD remains a disease with high unmet need which places significant burden on healthcare systems Remaining high unmet need Exacerbations are a leading cause of death in COPD globally and healthcare system costs ~40 million 50% 1 in 2 $4T patients with COPD on maintenance therapy of patients on Pati
Slide 9: tozorakimab – Phase III OBERON and TITANIA
tozorakimab – Phase III OBERON and TITANIA Frank C. Sciurba, MD Professor of Pulmonary and Critical Care Medicine, University of Pittsburgh 9
Slide 10: Tozorakimab to prevent COPD exacerbations: results from OBERON and TITANIA phase 3 studies
Tozorakimab to prevent COPD exacerbations: results from the replicate OBERON and TITANIA phase 3 studies Fr an k C S ciu r b a, * H en r ik Wa tz , * A r n au d Bo u rd in , Wi m J an s s ens , Fer n an d o J Ma r tin ez , Jin pi ng Zh en g , Ma ar t en va n d en Ber ge, Mat teo Bo n in i, MeiLa n K
Slide 11: COPD is associated with a high disease burden and high unmet need
COPD is associated with a high disease burden and high unmet need COPD exacerbations accelerate lung function decline, reduce quality of life, and increase risks of hospitalization and death 1,2 Over 50% of patients remain at a high risk of exacerbations while on standard-of-care inhaled maintenance
Slide 12: IL-33 is an upstream cytokine with two distinct bioactive forms
IL-33 is an upstream cytokine with two distinct bioactive forms that contribute to the pathophysiology of COPD9,10 Damagea Epithelial damage IL-1RAcP IL-33red IL-33ox RAGE EGFR Mucus hypersecretion Airway and epithelial inflammation9 IL-33red remodelling10 ST2 IL-33ox Type 1/3 inflammation Type 2 in
Slide 13: Tozorakimab is a monoclonal antibody that inhibits both IL-33red and IL-33ox
Tozorakimab is a monoclonal antibody that inhibits the activity of both IL-33red and IL-33ox,9 Damagea Epithelial damage IL-1RAcP IL-33red IL-33ox RAGE EGFR Mucus hypersecretion Airway and epithelial inflammation9 IL-33red remodelling10 ST2 IL-33ox Type 1/3 inflammation Type 2 inflammation Tozorakim
Slide 14: OBERON and TITANIA were replicate, phase 3, randomized, double-blind, placebo-controlled studies
OBERON and TITANIA were replicate, phase 3, randomized, double-blind, placebo-controlled studies Patient population Study design 11 • Adults (aged ≥ 40 yr) with COPD for ≥ Screening (2 weeks) Treatment (52 weeks) 1 yr Placebo SC Q4W + SoC • ≥ 2 moderate or ≥ 1 severe COPD 8-week safety follow-up exa
Slide 15: Baseline characteristics were balanced between treatment groups and trials
Baseline characteristics were balanced between treatment groups and trials, and representative of the COPD population studied OBERON TITANIA Tozorakimab Q4W Placebo Tozorakimab Q4W Placebo (n = 446) (n = 431) (n = 438) (n = 435) Age, years, mean (SD) 67.3 (7.8) 67.1 (7.8) 68.0 (7.3) 67.8 (7.2) Male,
Slide 16: Tozorakimab Q4W significantly reduced the annualized rate of moderate/severe exacerbations versus placebo
Tozorakimab Q4W significantly reduced the annualized rate of moderate/severe exacerbations versus placebo OBERON Treatment group Adjusted annualized rate (95% CI) Rate ratio (95% CI) p value Tozorakimab Q4W (n = 342) 1.34 (1.14, 1.58) Primary endpoint: 0.71 (0.57, 0.88) 0.002 Former smokers Placebo
Slide 17: Cumulative counts of moderate/severe exacerbations were lower with tozorakimab Q4W
Cumulative counts of moderate/severe exacerbations were lower with tozorakimab Q4W than placebo from baseline through week 52 OBERON: former smokers OBERON: overall population TITANIA: former smokers TITANIA: overall population . . aPatients included in the analysis: n = 336 (former smokers); n = 42
Slide 18: Other key secondary endpoints in the overall population as described in NEJM
Other key secondary endpoints in the overall population as described in NEJM LS Mean Diff (95% CI) Change in SGRQ Total Score OBERON −1.23 (−3.04 to 0.57) -4 TITANIA −0.16 (−1.79 to 1.47) -2 0 2 Favours tozorakimab LS Mean Diff (95% CI) OBERON 25 (4 to 46) Change in prebronchodilator FEV 1 -40 -20 0
Slide 19: Prespecified pooled analysis: reduction in exacerbations consistent across subgroups
Prespecified pooled analysis: a reduction in the rate of moderate/severe exacerbations was consistently seen across subgroups of the overall population Tozorakimab, na Placebo, na Favours tozorakimab Q4W Favours placebo Rate ratio (95% CI) b 884 864 0.70 (0.62, 0.80) Overall Age <65 283 296 0.72 (0.
Slide 20: Prespecified pooled analysis: reduction in exacerbations consistent across subgroups
Prespecified pooled analysis: a reduction in the rate of moderate/severe exacerbations was consistently seen across subgroups of the overall population Tozorakimab, na Placebo, na Favours tozorakimab Q4W Favours placebo Rate ratio (95% CI) Overallb 884 864 0.70 (0.62, 0.80) No. of moderate/severe ex
Slide 21: Prespecified pooled analysis: reduction in exacerbations consistent across subgroups
Prespecified pooled analysis: a reduction in the rate of moderate/severe exacerbations was consistently seen across subgroups of the overall population Tozorakimab, na Placebo, na Favours tozorakimab Q4W Favours placebo Rate ratio (95% CI) Overallb 884 864 0.70 (0.62, 0.80) No. of moderate/severe ex
Slide 22: Tozorakimab Q4W was well tolerated with AEs generally similar across treatment groups
Tozorakimab Q4W was well tolerated with AEs generally similar across treatment groups OBERON TITANIA Patients, n (%) Tozorakimab (n = 446) Placebo (n = 430) Tozorakimab (n = 438) Placebo (n = 435) Any AE 314 (70.4) 332 (77.2) 351 (80.1) 347 (79.8) Any serious AE 104 (23.3) 116 (27.0) 136 (31.1) 141
Slide 23: Conclusions
Conclusions References 1. Donaldson GC et al. Thorax 2002; Tozorakimab significantly reduced the annualized rate of moderate/severe exacerbations by 57:847–52 up to 34% versus placebo 2. Daniels K et al. Int J Chron Obstruct Pulmon Dis 2024;19:225–41 3. Nordon C et al. Int J Chron Obstruct Pulmon Di
Slide 24: Unlocking the potential of tozorakimab
Unlocking the potential of tozorakimab Sharon Barr EVP, BIOPHARMACEUTICALS R&D 24
Slide 25: Tozorakimab – best-in-biologic efficacy in high-EOS and first biologic to benefit low-EOS patients
Tozorakimab – best-in-biologic efficacy in high-EOS and first biologic to benefit low-EOS patients Studied in broadest COPD Exacerbation reduction Highly clinically meaningful population for a biologic independent of EOS levels3 efficacy in broad population GOLD 1 GOLD 2 GOLD 3 GOLD 4 mepolizumab1 <
Slide 26: Tozorakimab: a potential $5bn+ asset anchored by Phase III OBERON and TITANIA trials
Tozorakimab: a potential $5bn+ asset anchored by Phase III OBERON and TITANIA trials Large, differentiated COPD opportunity Lifecycle expansion provides upside beyond COPD 6 million biologic-eligible expected by 2030 COPD patients 1 IL-33 is implicated in numerous respiratory diseases Ambition to bu
Slide 27: Delivering growth to 2030 and beyond
Delivering growth to 2030 and beyond Pascal Soriot CHIEF EXECUTIVE OFFICER 27
Slide 28: Tozorakimab is one of several high-value NMEs in a diverse portfolio to drive growth
Tozorakimab is one of several high-value NMEs in a diverse portfolio to drive growth into next decade >$5bn $3-5bn 1 sonesitatug vedotin2 AZD0120 volrustomig balcinrenone | zibotentan + cliramitug saruparib dapagliflozin surovatamig elecoglipron | AZD6234 | AZD9550 efzimfotase alfa rilvegostomig lar
Slide 29: Pipeline momentum continues through 2027 to fuel growth
Pipeline momentum continues through 2027 to fuel growth Key readouts for NMEs will drive growth beyond 2030 >10 other high-value readouts also in 2027 balcinrenone + zibotentan + H1 2027 laroprovstat $5bn+ dapagliflozin dapagliflozin $5bn+ TROPION-Lung07 | Datroway AZURE-LDL/AZURE-HeFH BalanceD-HF |
Slide 30: Q&A Session
Q&A Session Key External Expert Frank C. Sciurba, MD PROFE SSOR O F PUL MO NAR Y AND C RIT ICAL CARE MED ICINE, UNIVE RSIT Y OF PITT SBUR GH AstraZeneca Leadership Pascal Soriot Ruud Dobber E VP, BIOPH AR MACEUT ICALS CH IEF E XECUTI VE O FFICE R BUSINE SS Sharon Barr Anne-Laure Dreno E VP, BIOPH AR
Slide 31: Appendix
Appendix 31
Slide 32: AstraZeneca in COPD
APPEN DI X | R&I disease maps AstraZeneca in COPD Exacerbation History Maintenance (Inhaled) Add on therapy Novel oral / inhaled / biologics (prior 12 mos) Est. epi (G8, 2026) ~40m treated ~4.6m EOS < 150 EOS 150–300 EOS > 300 (35%) (35%) (30%) Bevespi 0 exacerbations Breztri1 Breztri; THARROS Phase
Slide 33: AstraZeneca in Asthma
APPEN DI X | R&I disease maps AstraZeneca in Asthma Rescue / Reliever Symptom control Maintenance (Inhaled) Novel oral / inhaled / biologics (Inhaled) Est. epi (G8, 2026) ~54m treated ~25m ~3.6m EOS < 150 EOS 150–300 EOS > 300 (25%) (30%) (45%) Airsupra Mild (Step 1 + 2) Pulmicort Symbicort Airsupra
Slide 34: Glossary
Glossary 1L first-line IRA Inflation Reduction Act ADC antibody-drug conjugate IRAK4i inte rleukin-1 receptor-associated kinase 4 inhibitor AE adverse event iTSLP inhaled TSLP AZN AstraZeneca JP Japan BEC blood eosinophil count LABA long-acting beta-agonist BMJ British Medical Journal LAMA long-acti
Slide 35: Confidentiality Notice
Confidentiality Notice This file is private and may contain confidential and proprietary information. If you have received this file in error, please notify us and remove it from your system and note that you must not copy, distribute or take any action in reliance on it. Any unauthorized use or dis