Orexo Ab · OMXSTO:ORX
Orexo Ab — ABGSC Investor Day 2026
14 slides from Orexo Ab's conference presentation, May 22, 2026
Slide 1: ABGSC May 22, 2026
orexo a ooted_. “in science, proven in market? >. aa 24 ABGSC May 22, 2026 amorphOX’
Slide 2: This is Orexo
2 This is Orexo Comments Q2 Net Revenue LTM 1 Orexo is a pharmaceutical company dedicated to developing innovative medicines that save lives and address severe diseases. Our heritage - next-generation technology Development pipeline Founded in Uppsala, Sweden, with AmorphOX® is a powder-based drug d
Slide 3: Development pipeline and launched products
3 Development pipeline and launched products1 Technology Partnership Preclinical Clinical Registration Approved Development program Exploratory/ OX472 GLP-1 agonist, semaglutide Large molecules Vaccine, influenza Own projects/ OX390, atipamezole, overdose Small molecules caused by adulterated drugs
Slide 4: AmorphOX technology is today the foundation of Orexo
4 AmorphOX® technology is today the foundation of Orexo
Slide 5: 3 strategic focus areas to maximize value of the AmorphOX technology
5 3 strategic focus areas to maximize value of the AmorphOX technology New applications of the AmorphOX® technology are EXPLORE key to unlocking substantial future value creation Generating proof-of-concept in obesity/GLP-1 agonist and vaccines Proprietary projects drive greater value capture DEVELO
Slide 6: Promising first data on Orexo's nasal semaglutide formulations
6 Preclinical PK study: Intranasal semaglutide Promising first data on formulated by AmorphOX vs oral formulation Orexo’s nasal semaglutide AmorphOX formulations formulation Oral tablet1 • Data shared with industry experts and companies active in the field • Good feedback with regards to bioavailabi
Slide 7: Three development programs within rescue medications
7 Three development IZIPRY approaching programs within FDA resubmission in rescue medications Q3 2026 • Izipry , for opioid overdoses, approaching potential FDA approval. • OX640 for anaphylaxis, targeting a global market valued at over USD 6 billion¹. • OX390, the only product in IZIPRY is based on
Slide 8: Financial & Legal
8 Financial & Legal
Slide 9: Q1 2026 – First quarter post Zubsolv US divestment
9 Q1 2026 – First quarter post Zubsolv® US divestment Comments Q2 Q1 Q1 FY Financial key numbers 2026 2025 2025 Financial developments & legal update Net revenues (NR) 5 13 26 • All data refers to continued operations post Zubsolv US divestment as of Dec. 31, 2025. OPEX -80 -85 -364 • In Q1 2026, th
Slide 10: Orexo financial in a good starting position
10 Orexo financial in a good starting position But significant investments ahead to fully leverage the potential SEK 334 million in cash end of Q1 • Earn out of up to a total of USD ~ 17 m possible 2027-2028 • Continuous royalties of SEK ~20-30 m from commercial products • OX640 and IzipryTM near-te
Slide 11: Financing
11 Business development is the main source of financing 1 Zubsolv® divestment of USD 91 m plus earn-out 2 Research contribution from BARDA of up to USD 51 m Financing 3 Royalties from commercial products Zubsolv, Abstral® and Edluar® 4 Future milestones and royalties from development programs 5 Part
Slide 12: Value opportunities
12 Value opportunites
Slide 13: Value opportunities short, medium and long term
13 Value opportunities short, medium and long term 2026 2027 2028 2029 and beyond Launched • Zubsolv® EU • Zubsolv US earn-out • Zubsolv US earn-out products • Q3 FDA refiling • Q1 FDA approval IzipryTM • Partnering OX640 • Q4 pivotal trial start • H1 trial results • Outcome final pivotal trials • 2
Slide 14: Thanks
Thanks www.orexo.com www.orexo.com Orexo is headquartered in Uppsala, Sweden, with a US subsidiary in New Jersey. The company has been listed on Nasdaq Stockholm’s IR@orexo.com main market since 2005 (STO: ORX) and trades as ADRs on the OTCQX market in the US (OTCQX: ORXOY).