Slide 1: Leading a new era of innovation in immunology
Leading a new era of innovation in immunology 4 Q 2 0 2 5 F I N AN C I AL R E S U LT S C AL L F E B R U ARY 2 6 , 2 0 2 6
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation has been prepared by argenx se (“argenx” or the “company”) for informational purposes only and not for any other purpose. Nothing contained in this presentation is, or should be construed as, a recommendation, promise or representation by the presenter or
Slide 3: Advancing Vision 2030
Advancing Vision 2030 Execution in 2025 VISION 2030 ~19K Patients Treated Globally* 50 K Patients on Treatment 10 Ongoing Registrational Studies 10 Labeled Indications Michele, CIDP Patient 4 New Molecules Entered Pipeline 5 New Molecules in Phase 3
Slide 4: 2026 Strategic Priorities
2026 Strategic Priorities Impact More Patients Shape Long-Term Deliver Next Wave with VYVGART Future of FcRn of Innovation Deliver broadest MG label First empa Phase 3 readout Advance combination (MMN) approaches AIM and ITP Phase 3 readouts 4 Phase 3 molecules 3 Clinical-stage FcRn Expand into rheu
Slide 5: Data Support Broadest Label in MG
Data Support Broadest Label in MG ADAPT* ADAPT-SERON* ADAPT-OCULUS* 0 0 0 Mean Change from BL in MGII (PRO) Ocular -0.5 -0.5 -0.5 Mean Change from BL in MG-ADL Mean Change from BL in MG-ADL -1 -1 -1 -1.5 -1.5 -1.5 -2 -2 -2 -2.5 -2.5 -2.5 -3 -3 -3 -3.5 -3.5 -3.5 -4 -4 -4 -4.5 -4.5 -4.5 -5 -5 -5 BL W1
Slide 6: 6 Registrational Readouts Over Next 24 Months
6 Registrational Readouts Over Next 24 Months Phase 3 Data Readouts EFGARTIGIMOD EMPASIPRUBART Myositis 3Q 2026 MMN 4Q 2026 ITP 4Q 2026 CIDP 2H 2027 Sjogren’s Disease 2H 2027 Decision on Approval AChR- gMG (MuSK+, LRP4+, triple seronegative) PDUFA date of May 10, 2026 6
Slide 7: Innovation Model Generating World-Class Pipeline
Innovation Model Generating World-Class Pipeline IIP/Preclinical Phase 1 PoC Registrational Approved ARGX-118 (Galectin) AMR Seronegative ARGX-124 (FcRn) Scleroderma Ocular MG 25 ARGX-125 AIE ITP Active IIP TSP-101 (Fn14) DGF Graves’ Disease PROGRAMS programs SMA Sjogren’s Disease Other Spanning neu
Slide 8: ADAPT-OCULUS Phase 3 Study
ADAPT-OCULUS Phase 3 Study Screening Double-Blinded Treatment Period Open Label Extension ≤5 wk 7 wk ≤104 wk 141 Patients 1000mg efgartigimod PH20 SC+ CT TREATMENT CYCLES entered study 3-week dosing 4-week follow-up MGFA Class I 1000mg efgartigimod PH20 SC+ CT Week 0 1 2 3 MGII (PRO) ocular score of
Slide 9: Positive Ocular MG Data Support MG Label Expansion
Positive Ocular MG Data Support MG Label Expansion ADAPT-OCULUS* 0 -0.5 Mean Change from BL in MGII (PRO) Ocular -1 -1.5 -2 First registrational study in oMG -2.5 -3 Study met primary endpoint (p=0.012) -3.5 2.05-point placebo-adjusted -4 improvement in MGII PRO -4.5 No new safety concerns identifie
Slide 10: Product Net Sales of $1.3 billion in Q4
Product Net Sales of $1.3 billion in Q4 1,286 Product Net Sales by Quarter Q4 2025: growth of 74% vs Q4 2024 $’m 1,127 YoY % China (in millions of $) Q4 2025 Q4 2024 Growth Growth * RoW US 1,087 649 438 68% Japan 949 Japan 63 27 36 134% US 790 RoW 110 49 61 108% 737 China supply 26 12 14 113% Total
Slide 11: Q4 2025 Financial Summary
Q4 2025 Financial Summary Three months ended Twelve months ended December 31 December 31 (in million of $) 2025 2024 2025 2024 Three months ended Twelve months ended Product net sales 1,286 737 4,151 2,186 Other operating income* 36 24 97 December66 31 December 31 Total operating income (in million
Slide 12: Innovation has no value unless it provides meaningful benefit to patients
Innovation has no value unless it provides meaningful benefit to patients
Slide 13: Prefilled Syringe Launch is Increasing Patient Impact and Broadening Prescriber Base
Prefilled Syringe Launch is Increasing Patient Impact and Broadening Prescriber Base #1 PRESCRIBED BIOLOGIC MG EXPANSION VYVGART drove 70% Patients directly from orals 60% Growth in overall MG biologics share Earlier Line Patients NEW PRESCRIBER CIDP EXPANSION AND PATIENT GROWTH Achieved >4,700 Pre
Slide 14: Building Durable Leadership with the Broadest Label in MG
Building Durable Leadership with the Broadest Label in MG U.S. Addressable MG Patients +25K Redefine Patient Outcomes Launch in Seronegative MG* +7K Limited current treatment options Growth in Ocular MG Phase 3 Readout +11K Biologics Share of Market 60K First and only development in Ocular MG Empowe
Slide 15: Roadmap to CIDP Market Expansion
Roadmap to CIDP Market Expansion Redefine Treatment Evidence Generation ADHERE+ Functional Benefit HCP Prescriber Growth 42K Redefine Patient Outcomes 24K Biomarker Exploration IgG, IgM Autoantibodies 12K Progressing Multiple MOAs Addressable Total Treated Total Diagnosed Co-positioning VYVGART & Em
Slide 16: We are on a bold mission
We are on a bold mission Co-Creation Innovation Empowerment Humility Excellence