Slide 1: H1 and Q2 2025 Results
H1 and Q2 2025 Results Conference call and webcast for investors and analysts 29 July 2025
Slide 2: Forward-looking statements
Forward-looking statements This document contains certain forward-looking statements with respect to the operations, performance and financial condition of the Group, including, among other things, statements about expected revenues, margins, earnings per share or other financial or other measures.
Slide 3: Conference call agenda
H1 and Q2 2025 Results Conference call agenda CEO Opening Remarks Pascal Soriot Chief Executive Officer Financial Results Aradhana Sarin Chief Financial Officer Oncology Haematology Dave Fredrickson Susan Galbraith EVP, Oncology Haematology Business EVP, Oncology Haematology R&D BioPharmaceuticals R
Slide 4: CEO Opening Remarks
CEO Opening Remarks Pascal Soriot CHIEF EXECUTIVE OFFICER 4
Slide 5: Strong commercial and pipeline delivery in H1 2025
Strong commercial and pipeline delivery in H1 2025 Continued commercial Excellent momentum pipeline delivery +11% Total Revenue1 19 new approvals 12 positive First Phase III +17% Core EPS1 in key regions2,3 Phase III readouts3,4 data for 5 NMEs3 5 All growth rates at CER. 1. Growth rates relative to
Slide 6: H1 2025 – growth supported by diverse, broad-based business
H1 2025 – growth supported by diverse, broad-based business H1 2025 | % Total Revenue by therapy area 16% 10% V&I: 411 18% R&I: 13% Oncology CVRM R&I V&I Other Rare Disease Strength across 4,234 43% 23% 15% 1% 2% 15% therapy areas 3% H1 2025 | Total Revenue ($m) 8% CVRM: 11,955 6,588 4,336 Oncology
Slide 7: Excellent delivery across diverse pipeline
Excellent delivery across diverse pipeline Key Phase III trial readouts in 2025 to date Oncology BioPharmaceuticals Rare Disease NME NME SERENA-6 POTOMAC KALOS/LOGOS CARES anselamimab improving survival camizestrant potential new Imfinzi opportunity to treat Breztri broadening opportunity in a subgr
Slide 8: Significant progress with transformative technologies to drive 2030+ growth
Significant progress with transformative technologies to drive 2030+ growth Weight management ADCs and Cell therapy and Gene therapy and Next-gen IO bispecifics and risk factors Radioconjugates T-cell engagers gene editing Establish and lead Develop scalable cell Replace systemic Make cure possible
Slide 9: Financial Results
Financial Results Aradhana Sarin CHIEF FINANCIAL OFFICER 9
Slide 10: H1 and Q2 2025 – Reported profit and loss
H1 and Q2 2025 – Reported profit and loss H1 2025 CER change % Total Q2 2025 CER change % Total $m % Revenue $m % Revenue - Product Sales 26,670 10 95 13,795 10 95 - Alliance Revenue 1,293 38 5 654 35 5 Product Revenue 27,963 11 100 14,449 11 100 - Collaboration Revenue 82 66 - 8 >2x - Total Revenue
Slide 11: H1 and Q2 2025 – Core profit and loss
H1 and Q2 2025 – Core profit and loss H1 2025 CER change % Total Q2 2025 CER change % Total $m % Revenue $m % Revenue - Product Sales 26,670 10 95 13,795 10 95 - Alliance Revenue 1,293 38 5 654 35 5 Product Revenue 27,963 11 100 14,449 11 100 - Collaboration Revenue 82 66 - 8 >2x - Total Revenue 28,
Slide 12: Investing to support our long-term growth ambition
Investing to support our long-term growth ambition Driving operating leverage through SG&A efficiency Total Revenue vs. Core R&D and Core SG&A Patients enrolled in as percentage of Total Revenue Prioritising R&D AstraZeneca trials (thousands) 120 100 30.0 40% — Accelerating high-priority assets 80 6
Slide 13: FY 2025 guidance reiterated
FY 2025 guidance reiterated Net cash inflow from operating activities increased by 27% in H1 2025 Net debt/EBITDA 1.4x FY 2025 guidance (CER) $bn 0.8 Total Revenue 3.4 7.1 2.3 anticipated to increase by a high single-digit percentage 1.3 Core EPS 25.2 anticipated to increase by a low double-digit pe
Slide 14: Oncology
Oncology Dave Fredrickson ONCOLOGY HAEMATOLOGY BUSINESS Susan Galbraith ONCOLOGY HAEMATOLOGY R&D 14
Slide 15: Oncology – H1 and Q2 2025
Oncology – H1 and Q2 2025 Total Revenue +16% in H1 2025 driven by strong global demand across medicines Oncology Q2 2025: key dynamics H1 2025 $12.0bn, +16% 7,000 • Tagrisso +12%, increasing demand across indications, leading 1L combination share 6,000 • Calquence +10%, extending BTKi leadership in
Slide 16: Oncology – high-value readouts year to date
Oncology – high-value readouts year to date Practice-defining data at ASCO 2025 and new high-level results across multiple tumour types Transforming treatment across breast Broadening impact of and gastric cancer at ASCO 2025 established treatments Establishing new SERENA-61 | switch to camizestrant
Slide 17: BioPharmaceuticals
BioPharmaceuticals Ruud Dobber BIOPHARMACEUTICALS BUSINESS Sharon Barr BIOPHARMACEUTICALS R&D 17
Slide 18: BioPharmaceuticals – H1 and Q2 2025
BioPharmaceuticals – H1 and Q2 2025 Total Revenue +10% in H1 2025 driven by strong momentum in key medicines CVRM R&I Q2 2025: key dynamics H1 2025 $6.6bn, +8% H1 2025 $4.2bn, +13% 3,500 2,500 • Farxiga +10%, global demand growth mainly driven by CKD and HF 3,000 • Lokelma +27%, market leader in gro
Slide 19: BioPharmaceuticals – first Phase III data for baxdrostat
BioPharmaceuticals – first Phase III data for baxdrostat Potential first-in-class NME; $5bn+ PYR opportunity across monotherapy and combinations Phase III BaxHTN in uncontrolled or resistant hypertension Broad Phase III development Run-in Double-blind treatment Monotherapy 2 weeks 12 weeks baxdrosta
Slide 20: Rare Disease
Rare Disease Marc Dunoyer CHIEF EXECUTIVE OFFICER, ALEXION 20
Slide 21: Rare Disease – H1 and Q2 2025
Rare Disease – H1 and Q2 2025 Total Revenue $4.3bn in H1 2025 driven by patient demand across the portfolio Rare Disease Q2 2025: key dynamics H1 2025 $4.3bn, +3% 2,500 C5 Franchise • Ultomiris +23%, demand growth across indications, including 2,000 within the competitive gMG and PNH markets • Solir
Slide 22: Rare Disease – Phase III readouts for two NMEs
Rare Disease – Phase III readouts for two NMEs Reinforcing innovation and leadership in Rare Disease CARES | anselamimab in PREVAIL | gefurulimab in gMG light-chain amyloidosis Dual-binding nanobody targeting C5, self-administration s.c. QW1 Specific anti-fibril — All primary and secondary Global gM
Slide 23: CEO Closing Remarks
CEO Closing Remarks Pascal Soriot CHIEF EXECUTIVE OFFICER 23
Slide 24: Successfully delivering in unprecedented catalyst rich period
Successfully delivering in unprecedented catalyst rich period H1 2025 H2 2025 DESTINY-Breast09 | Enhertu TROPION-Breast02 | Datroway TMA-313 | Ultomiris 1L HER2+ breast cancer 1L TNBC HSCT-TMA (adults) DESTINY-Breast11 | Enhertu DESTINY-Breast05 | Enhertu CARES1 | anselamimab early-stage HER2+ breas
Slide 25: On track to deliver on 2030 ambitions
On track to deliver on 2030 ambitions supported by strong growth and pipeline momentum Ambition to deliver $80bn in On track to deliver mid-30s% Ambition to deliver at least 20 Total Revenue by 20301 Core operating margin by 2026 NMEs by 2030 Strong growth in 2025 with global 9 NMEs launched to date
Slide 26: Q&A Session
Q&A Session Pascal Soriot Aradhana Sarin CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER Marc Dunoyer Susan Galbraith CHIEF EXECUTIVE EVP, ONCOLOGY HAEMATOLOGY R&D OFFICER, ALEXION Dave Fredrickson Sharon Barr EVP, ONCOLOGY EVP, BIOPHARMACEUTICALS R&D HAEMATOLOGY BUSINESS Ruud Dobber Iskra Reic EVP,
Slide 27: Appendix
Appendix
Slide 28: AstraZeneca P&L reference table
AP P E ND I X | P&L definitions AstraZeneca P&L reference table P&L line-item definitions P&L line-item definition Product Sales • Recognises sales from territories where Group has lead commercialisation • Recognises supply of Beyfortus to Sanofi Alliance Revenue • Alliance Revenue comprises income
Slide 29: AstraZeneca in non-small cell lung cancer
AP P E ND I X | Oncology tumour maps AstraZeneca in non-small cell lung cancer Resectable Unresectable Metastatic Stg. I Stg. II-III Stg. I-II Stg. III 1L 2L 3L+ Est. epi (G7, 2025) ~150K ~70K ~50K ~100K ~310K ~190K ~70K Imfinzi CRT → Imfinzi Imfinzi + Imjudo + CTx POSEIDON AEGEAN PACIFIC Datroway +
Slide 30: AstraZeneca in breast cancer
AP P E ND I X | Oncology tumour maps AstraZeneca in breast cancer Early Metastatic Neoadjuvant Adjuvant 1st line 2nd line 3rd line 4th line + Est. epi (G7, 2025) 540k 135k 100k 75k 60k HER2-positive Enhertu + THP NST→ residual disease → Enhertu Enhertu ± pertuzumab Enhertu Enhertu 15-20% DESTINY-Bre
Slide 31: AstraZeneca in gastric cancer
AP P E ND I X | Oncology tumour maps AstraZeneca in gastric cancer Early Advanced/Metastatic Stage II/III 1st line 2nd line 3rd line Est. epi (G7, 2025) 50k 90k 60k 30k Enhertu + rilvegostomig + FP HER2-positive ARTEMIDE-Gastric01 Enhertu Enhertu 20% DESTINY-Gastric02, 04 DESTINY-Gastric01 Enhertu +
Slide 32: Strengthening manufacturing and R&D footprint
AP P E ND I X | Geographic footprint Strengthening manufacturing and R&D footprint to support future growth Six strategic R&D centres globally: Cambridge, UK Gothenburg, Sweden NEW INVESTMENT | Virginia State-of-the-art facility to support weight management and emerging metabolic portfolio Gaithersb
Slide 33: Oncology – Tagrisso and Lynparza
AP P E ND I X | Product Revenue Performance Oncology Tagrisso Lynparza 10% growth at CER to $3,488m in H1 2025 9% growth at CER to $1,564m in H1 2025 2,000 900 1,800 800 1,600 700 1,400 600 Product Revenue ($m) Product Revenue ($m) 1,200 500 1,000 400 800 300 600 400 200 200 100 0 0 Q2 Q3 Q4 Q1 Q2 Q
Slide 34: Oncology – Imfinzi and Imjudo
AP P E ND I X | Product Revenue Performance Oncology Imfinzi Imjudo 21% growth at CER to $2,716m in H1 2025 25% growth at CER to $170m in H1 2025 1,600 100 90 1,400 80 1,200 70 Product Revenue ($m) Product Revenue ($m) 1,000 60 800 50 40 600 30 400 20 200 10 0 0 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q
Slide 35: Oncology – Calquence and Enhertu
AP P E ND I X | Product Revenue Performance Oncology Calquence Enhertu 9% growth at CER to $1,634m in H1 2025 38% growth at CER to $1,262m in H1 2025 1,000 700 900 600 800 700 500 Product Revenue ($m) Product Revenue ($m) 600 400 500 400 300 300 200 200 100 100 0 0 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q
Slide 36: BioPharmaceuticals: Cardiovascular, Renal & Metabolism
AP P E ND I X | Product Revenue Performance BioPharmaceuticals: Cardiovascular, Renal & Metabolism Farxiga Brilinta Lokelma 13% growth at CER to $4,209m in H1 2025 21% decrease at CER to $520m in H1 2025 32% growth at CER to $328m in H1 2025 2,500 400 200 180 350 2,000 160 300 140 Product Revenue ($
Slide 37: BioPharmaceuticals: Respiratory & Immunology
AP P E ND I X | Product Revenue Performance BioPharmaceuticals: Respiratory & Immunology Fasenra Tezspire Saphnelo 18% growth at CER to $920m in H1 2025 73% growth at CER to $483m in H1 2025 49% growth at CER to $304m in H1 2025 600 300 180 160 500 250 140 400 200 120 Product Revenue ($m) Product Re
Slide 38: BioPharmaceuticals: Respiratory & Immunology
AP P E ND I X | Product Revenue Performance BioPharmaceuticals: Respiratory & Immunology Breztri Symbicort 29% growth at CER to $583m in H1 2025 2% decrease at CER to $1,438m in H1 2025 350 900 800 300 700 250 600 Product Revenue ($m) Product Revenue ($m) 200 500 150 400 300 100 200 50 100 0 0 Q2 Q3
Slide 39: Rare Disease
AP P E ND I X | Product Revenue Performance Rare Disease Ultomiris Strensiq Koselugo 24% growth at CER to $2,228m in H1 2025 15% growth at CER to $746m in H1 2025 13% growth at CER to $275m in H1 2025 1,400 450 180 400 160 1,200 350 140 1,000 300 120 Product Revenue ($m) Product Revenue ($m) Product
Slide 40: Glossary
AP P E ND I X | Glossary Glossary 1L, 2L, 3L first-, second-, third-line FDC fixed-dose combination PARPi poly-ADP ribose polymerase inhibitor AAV adeno-associated virus FLOT luorouracil, leucovorin, oxaliplatin and docetaxel PDL1 programmed death-ligand 1 ADC antibody-drug conjugate FP fluoropyrimi
Slide 41: Confidentiality Notice
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