Astellas Pharma Inc. · TSE:4503

Astellas Pharma — Investor Day (May 2026)

35 slides from Astellas Pharma's investor day presentation, May 26, 2026

  1. Slide 1: CSP2026 Corporate Strategic Plan FY2026–FY2030

    CSP2026 CSP: Corporate Strategic Plan For the period FY2026 – FY2030 Naoki Okamura President and CEO Astellas Pharma Inc. May 26, 2026 ©2026 ASTELLAS PHARMA INC. AND ITS AFFILIATES.

  2. Slide 2: Cautionary Statement Regarding Forward-Looking Information

    Cautionary Statement Regarding Forward-Looking Information In this material, statements made with respect to current plans, estimates, strategies and beliefs and other statements that are not historical facts are forward-looking statements about the future performance of Astellas Pharma. These state

  3. Slide 3: Turning innovative science into VALUE for patients

    On the forefront to healthcare change to turn innovative science into VALUE for patients Outcomes that matter to patients VALUE = Cost to the healthcare system of delivering those outcomes ©2026 ASTELLAS PHARMA INC. AND ITS AFFILIATES.

  4. Slide 4: Who We Are | Astellas at a glance

    Who We Are | Astellas at a glance SALES REVENUE CORE OPERATING PROFIT / MARGIN 2.1T Yen (FY25) 555.7B Yen / 26.0% (FY25) 27.9 ($14.2B) ($3.7B) 26.0 21.3 19.2 20.5 17.3 1.3 1.5 1.6 1.9 2.1 2.2 248.3 323.9 276.9 392.4 555.7 620.0 trillion trillion trillion trillion trillion trillion billion billion bi

  5. Slide 5: Our CSP2026

    1. CSP2026 Overview 2. VALUE Delivery 3. VALUE Creation 4. Cash Allocation 5. How We Deliver Our CSP2026 Astellas – A Sustainable Growth Company Our ambition is to achieve pipeline-led, record-high revenues by mid-2030s CSP2026 is a self-funded growth strategy that will:  Deliver profitable growth

  6. Slide 6: CSP2026 Goals and Deliverables (FY2026 – FY2030)

    1. CSP2026 Overview 2. 2.Cash VALUE Generation Delivery 3.3. Pipeline-led VALUE Creation Growth 4. Cash Allocation 5. How We Deliver CSP2026 Goals and Deliverables (FY2026 – FY2030) Strategic Goals Key Deliverables Deliver profitable growth and generate cash • Maximize revenue through high-margin St

  7. Slide 7: Revenue Outlook | Controlled transition to pipeline-led growth

    1. CSP2026 Overview 2. 2.Cash VALUE Generation Delivery 3.3. Pipeline-led VALUE Creation Growth 4. Cash Allocation 5. How We Deliver Revenue Outlook | Controlled transition to pipeline-led growth Illustrative Record-high revenue (mid-2030s) 2.2 Trillion Yen revenue (FY26) Pipeline-led inflection poi

  8. Slide 8: Profitability Outlook | Shift to high-margin Strategic Brands

    1. CSP2026 Overview 2. VALUE Delivery 3. VALUE Creation 4. Cash Allocation 5. How We Deliver Profitability Outlook | Shift to high-margin Strategic Brands drives profitability Illustrative Product Mix in Revenue Strategic Brands ~23% Strategic Brands over 50% XTANDI & XTANDI & Other Brands Other Bra

  9. Slide 9: Strategic Brands Growth | 2x Sales vs. FY2025

    1. CSP2026 Overview 2. VALUE Delivery 3. VALUE Creation 4. Cash Allocation 5. How We Deliver Strategic Brands Growth | 2x Sales vs. FY2025 Diversified and profitable Strategic Brands portfolio Key Growth Opportunities PADCEV • Cis-eligible & cis-ineligible MIBC • Phase 3 bladder-sparing MIBC initiat

  10. Slide 10: Disciplined Cost Optimization

    1. CSP2026 Overview 2. VALUE Delivery 3. VALUE Creation 4. Cash Allocation 5. How We Deliver Disciplined Cost Optimization | Building on proven execution of SMT CSP2026 Period (FY26-30) Additional Initiatives Identified Initiatives Recurring Cost Reinvest for Optimization Target FY27 (FY26-30) pipel

  11. Slide 11: Focus Area Approach | Pursue innovation to create and deliver VALUE

    1. CSP2026 Overview 2. VALUE Delivery 3. VALUE Creation 4. Cash Allocation 5. How We Deliver Focus Area Approach | Pursue innovation to create and deliver VALUE Driving forward the BIOLOGY MODALITY / most promising assets We start where it TECHNOLOGY to treat diseases where matters most – understand

  12. Slide 12: Our Pipeline | Drive growth from FY2029 through pipeline assets

    1. CSP2026 Overview 2. VALUE Delivery 3. VALUE Creation 4. Cash Allocation 5. How We Deliver Our Pipeline | Drive growth from FY2029 through pipeline assets Pipeline revenue potential R&D investment for acceleration FY26-30 Start 10+ Phase 3/pivotal studies in mid-2030s: • Average base spending 20%

  13. Slide 13: R&D Productivity | Create and deliver greater VALUE faster

    1. CSP2026 Overview 2. VALUE Delivery 3. VALUE Creation 4. Cash Allocation 5. How We Deliver R&D Productivity | Create and deliver greater VALUE faster Integrating Internal & Embedding Data-Driven Increasing Speed of Focusing the Pipeline External Collaboration Decision Making Clinical Trial Executi

  14. Slide 14: BD Focus | Pursue value-enhancing BD with target and discipline

    1. CSP2026 Overview 2. VALUE Delivery 3. VALUE Creation 4. Cash Allocation 5. How We Deliver BD Focus | Pursue value-enhancing BD with target and discipline Value-Enhancing BD Rescue BD Actively pursue as the core BD approach Not pursued by default​ • Proactively strengthen the pipeline through acqu

  15. Slide 15: Disciplined Cash Allocation

    1. CSP2026 Overview 2. VALUE Delivery 3. VALUE Creation 4. Cash Allocation 5. How We Deliver Disciplined Cash Allocation | Fund growth and deliver sustainable shareholder value FY26-30 FY21-25 (Next 5-year total) (Past 5-year total) Net: 3.4T Yen R&D (4.2T Yen) Average base spending: 20% vs. revenue

  16. Slide 16: Productivity Enhancement | Build on how we operate

    1. CSP2026 Overview 2. VALUE Delivery 3. VALUE Creation 4. Cash Allocation 5. How We Deliver Productivity Enhancement | Build on how we operate Traditional Operating Model End-to-End Operating Model Patient Axis Regional Axis Research P0 P1 P2 P3 P4 / Market Functional Axis Asset Maximization Team R

  17. Slide 17: Our Cultural Foundation | Organizational Values and Behaviors

    1. CSP2026 Overview 2. VALUE Delivery 3. VALUE Creation 4. Cash Allocation 5. How We Deliver Our Cultural Foundation | Organizational Values and Behaviors Our Organizational Values and Behaviors form the core of our culture and are the foundation of CSP2026 These Values and Behaviors will guide our

  18. Slide 18: Corporate Governance | Board engages in company's strategies

    1. CSP2026 Overview 2. VALUE Delivery 3. VALUE Creation 4. Cash Allocation 5. How We Deliver Corporate Governance | Board engages in company’s strategies providing oversight Key Roles of the Board Review and endorse strategic Provide oversight and effective direction in alignment with our monitoring

  19. Slide 19: CSP2026 Key Takeaways | Astellas – A Sustainable Growth Company

    CSP2026 Key Takeaways | Astellas – A Sustainable Growth Company Deliver profitable Accelerate Enhance Allocate cash growth and pipeline-led enterprise with discipline generate cash growth productivity Maximize revenue Drive growth from FY2029 Fund growth and Build on ways of working, through high-ma

  20. Slide 20: Appendix

    Appendix ©2026 ASTELLAS PHARMA INC. AND ITS AFFILIATES.

  21. Slide 21: Strategic Brands | Blockbuster potential will drive future growth

    Strategic Brands | Blockbuster potential will drive future growth Oncology Oncology Oncology Ophthalmology Women’s Health Peak Sales: Peak Sales: Peak Sales: Peak Sales: Peak Sales: 400-500B Yen 100-200B Yen 100-200B Yen 200-400B Yen 150-250B Yen ($2.7-3.3B) ($0.7-1.3B) ($0.7-1.3B) ($1.3-2.7B) ($1.0

  22. Slide 22: Capital Allocation Policy

    Capital Allocation Policy 1 Top priority is investment for 2 Raise dividend level aligned 3 Flexibly execute share business growth with profit / cashflow plan and buyback by excess cash actual performance Maintain Gross Debt*/EBITDA** of 1.0x to 1.5x to keep adequate debt capacity for potential larg

  23. Slide 23: Pipeline | Leveraging our development & commercial capabilities

    Pipeline | Leveraging our development & commercial capabilities Prostate Cancer Phase Upper GI and Pancreatic Cancer Phase Acute Myeloid Leukemia Phase Solid Tumors Phase XTANDI (enzalutamide) In market VYLOY (zolbetuximab) XOSPATA (gilteritinib) setidegrasib (ASP3082) 1 In market In market Gastric

  24. Slide 24: G/GEJ Adenocarcinoma | Expanding our CLDN18.2 franchise

    G/GEJ Adenocarcinoma | Expanding our CLDN18.2 franchise building on VYLOY • Estimated number of patients* (overall G/GEJ): ~119,000 in 1L, ~50,000 in 2L Today Future potential HER2 negative Covers approx. 70% ~78 % of population1 CLDN18.2 high CLDN18.2 low-intermediate ~38% of population2 ~35% of po

  25. Slide 25: PDAC | Accelerating development targeting KRAS G12D and CLDN18.2

    PDAC | Accelerating development targeting KRAS G12D mutation and CLDN18.2 • Estimated number of patients* (overall PDAC): ~176,000 in 1L, ~40,000 in 2L • SoC for metastatic PDAC: Chemotherapy KRAS G12D + CLDN18.2 +** ~40% in PDAC1 ~60% in PDAC2 setidegrasib ASP2138 Phase 3 study in 1L PDAC ongoing (

  26. Slide 26: NSCLC | Potential first-in-class targeted protein degrader

    NSCLC | Potential first-in-class targeted protein degrader under development • Estimated number of patients* (overall NSCLC): ~234,000 in 1L, ~151,000 in 2L+ Today Future potential KRAS G12D + ~5% in NSCLC1 1L chemo +/- CPI setidegrasib Phase 1 study ongoing (NCT05382559) setidegrasib setidegrasib Q

  27. Slide 27: Prostate Cancer | Leveraging capabilities built on XTANDI

    Prostate Cancer | Leveraging capabilities built on XTANDI • Estimated number of patients* (overall prostate cancer): ~147,000 in mCRPC, ~121,000 in mCSPC Today Future potential VIR-5500 ASP5541 #1 most prescribed branded ARPI for Phase 1 study ongoing Phase 2 study ongoing advance prostate cancer ac

  28. Slide 28: ASP2138 | Overview

    ASP2138 | Overview Overview Latest data3 Bispecific antibody targeting CLDN18.2 and CD3 with SC route • Safety and tolerability supports combination with SoC • Target disease: Gastric/GEJ (G/GEJ) adenocarcinoma and PDAC chemotherapy and checkpoint inhibitors ✓ Rate of CLDN18.2-positive patients*: •

  29. Slide 29: ASP546C | Overview

    ASP546C | Overview Overview Latest data1 Antibody-drug conjugate (ADC) targeting CLDN18.2 <Preliminary efficacy in CLDN18.2+ G/GEJ adenocarcinoma> • Payload: Proprietary topoisomerase I inhibitor, (CLDN18.2+: CLDN18.2 expression ≥5%, IHC ≥2+) Drug-to-antibody ratio: 8 2.4 mg/kg (n=29) 3.0 mg/kg (n=3

  30. Slide 30: setidegrasib | Overview

    setidegrasib | Overview Overview Latest data | PDAC setidegrasib works by hijacking the body’s natural protein • 1L data presented at ASCO GI 2026 degradation process, the ubiquitin-proteasome system Response rates setidegrasib 600 mg + mFOLFIRINOX ORR, n (%) 7/12 (58.3) Best change from DCR, n (%)

  31. Slide 31: VIR-5500 | Overview

    VIR-5500 | Overview Overview Dual-masked CD3 T-cell engager targeting PSMA • Target disease: Prostate cancer PSA-evaluable participant dosed at ≥ 3000 ug/kg Q3W • Phase 1 study ongoing (NCT05997615) Latest data • Preliminary Phase 1 monotherapy dose escalation data presented at ASCO GU 2026 ✓ RECIST

  32. Slide 32: ASP5541 | Overview

    ASP5541 | Overview Overview A long-acting intramuscular depot injection of abiraterone decanoate • Target disease: Prostate cancer • Phase 2 study ongoing (NCT07005154) Latest data • Preliminary Phase 1 data presented at ESMO 2025 ✓ Showed efficacy with deep and durable PSA responses in ARPI-naïve p

  33. Slide 33: GA secondary to AMD | Delivering functional vision benefit with cell therapy

    GA secondary to AMD | Delivering functional vision benefit with cell therapy • Estimated number of patients (overall GA): ~5 million worldwide1 • Severe vison impairment: ~30% • Moderate vision impairment: ~40% • Mild vision impairment: ~30% Today Future potential ASP7317 Completement Inhibitor PoC

  34. Slide 34: ASP7317 | Overview

    ASP7317 | Overview Overview Latest data Transplantation of retinal pigment epithelial cells aiming to • Initial data from Phase 1b study presented at Association for maintain and restore visual functions Research in Vision and Ophthalmology (ARVO) 2026 • Target disease: GA secondary to AMD ✓ Well-to

  35. Slide 35: AT845 | Overview

    AT845 | Overview Overview Latest data Recombinant AAV8 continuously expressing hGAA gene • Follow-up data from Phase 1/2 FORTIS study presented at specially in muscle WORLDSymposium 2026 • Target disease: Pompe disease ✓ Of the 6 participants with ≥1 year follow-up, 5 remained off ✓ Estimated incide

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