Slide 1: Q2 2026 Financial Results
Indivior, Powering Recovery, Renewing Hope. Q2 2026 Financial Results August 3, 2026
Slide 2: Important Cautionary Statement Regarding Forward-Looking Statements
IMPORTANT CAUTIONARY STATEMENT REGARDING FORWARD- LOOKING STATEMENTS This presentation contains certain statements that are forward-looking. Forward-looking statements include, among other things, express and implied statements regarding: potential deployment of capital to create long-term value for
Slide 3: Important Additional Information and Where to Find It
IMPORTANT ADDITIONAL INFORMATION AND WHERE TO FIND IT Important Additional Information and Where to Find It In connection with the proposed transaction, Indivior intends to file with the SEC a registration statement on Form S-4, which will include a document that serves as a prospectus of Indivior a
Slide 4: Execution Against the Indivior Action Agenda
Execution Against the Indivior Action Agenda
Slide 5: Q2 2026 Business Performance Highlights
Q2 2026 BUSINESS PERFORMANCE HIGHLIGHTS Total Net Revenue SUBLOCADE Net Revenue Adjusted EBITDA1 +14% +21% +111% $343m $186m $253m $302m $209m $88m 54% 29% Q2'25 Q2'26 Q2'25 Q2'26 Q2'25 Q2'26 Adjusted EBITDA margin2 Capital Deployment Opportunistically returned value to shareholders through $175m of
Slide 6: The Indivior Action Agenda
THE INDIVIOR ACTION AGENDA Phase III – Breakout (Began July 1st) • Leverage strengthened financial profile to acquire next growth drivers Phase II – Accelerate (Began Jan. 1st) • Accelerate U.S. SUBLOCADE dispense unit and net revenue throughout 2026 • Immediately accelerate adjusted EBITDA and cash
Slide 7: Indivior Action Agenda Accomplishments
INDIVIOR ACTION AGENDA ACCOMPLISHMENTS Simplified the Organization & Strengthened Financial Flexibility and Accelerated U.S. SUBLOCADE Accelerated Adjusted EBITDA Strategically Deployed Capital and Cash Flow Expect 20% dispense unit growth in Non-GAAP operating expenses will not 2026 from 7% in 2025
Slide 8: Phase III – Breakout: Proposed Merger with Supernus
PHASE III – BREAKOUT: PROPOSED MERGER WITH SUPERNUS Enhances and diversifies growth profile Differentiated portfolio with durable growth into the 2030s Four commercial beachheads Immediate increased scale from significant cost synergies Greater flexibility to pursue growth initiatives Builds a diver
Slide 9: SUBLOCADE Commercial Update
SUBLOCADE® Commercial Update
Slide 10: Q2 2026 U.S. SUBLOCADE Performance
Q2 2026 U.S. SUBLOCADE PERFORMANCE* TTM SUBLOCADE Patients1 Strong SUBLOCADE Dispense Growth2 +17% >545K YoY +18% +4% YoY QoQ +7% QoQ 191,600 199,800 171,500 182,600 195,400 U.S. patients prescribed 165,700 SUBLOCADE since launch +27% // // Q2'25 Q1'26 Q2'26 Q2'25 Q1'26 Q2'26 ~ Growing SUBLOCADE Pre
Slide 11: Progress on Sustained Initiatives to Accelerate SUBLOCADE
PROGRESS ON SUSTAINED INITIATIVES TO ACCELERATE SUBLOCADE Expanding Patient Awareness Unlocking Access Through Policy Improving Commercial Execution and Engagement Leadership • 10% of new patients receiving accelerated second dose exiting • DTC Campaign ("Move Forward • Advancing state and federal Q
Slide 12: Q2 2026 Performance & FY 2026 Guidance
Q2 2026 Performance & FY 2026 Guidance
Slide 13: Q2 2026 Financial Highlights
Q2 2026 FINANCIAL HIGHLIGHTS OPERATING RESULTS: KEY TAKEAWAYS: $ mil Q2 2026 Q2 2025 Δ Total Net Revenue (NR): 343 302 14% Total Net Revenue (+14% vs. Q2’25) was primarily driven by Total SUBLOCADE NR: 253 209 21% strong SUBLOCADE net revenue growth in the U.S. (+22% YoY) Gross Profit: 294 250 17% S
Slide 14: Raising 2026 Financial Guidance
RAISING 2026 FINANCIAL GUIDANCE Previous Guidance Updated Guidance1 YoY Change2 (4/30/2026) (7/30/2026) Total Net Revenue $1,215m - $1,285m $1,295m - $1,365m +7% SUBLOCADE Net $950m - $990m $1,010m - $1,050m +20% Revenue Non-GAAP Operating $430m - $450m $430m - $450m -29% Expenses3 Adjusted EBITDA3
Slide 15: 2026 Capital Deployment
2026 CAPITAL DEPLOYMENT DEBT MANAGEMENT In March 2026, completed offering of $500m convertible senior notes due in 2031; proceeds used to repay $333m term loan $249m in cash and investments as of 6/30/26 SHARE REPURCHASES In Q2’26, repurchased ~4.7m shares at an average price of $37.52 for total of
Slide 16: Conclusion
Conclusion
Slide 17: Focused on Successfully Completing All Phases of the Indivior Action Agenda
FOCUSED ON SUCCESSFULLY COMPLETING ALL 3 PHASES OF THE INDIVIOR ACTION AGENDA Execute Deliver on financial Close transaction Phase II – Accelerate and operational with Supernus to SUBLOCADE commitments create long-term value for shareholders Q2 2026 RESULTS | AUGUST 3, 2026 17
Slide 18: Appendix
Appendix
Slide 19: Non-GAAP Gross Profit Reconciliation
Non-GAAP Gross Profit Reconciliation Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 GAAP gross profit $ 294 $ 250 $ 570 $ 472 Adjustments within cost of sales: Manufacturing transition 2 2 3 2 Corporate initiative transition 2 — 2 — Plus: Adjustments in cost of sales 4 2 5
Slide 20: Non-GAAP Operating Expenses Reconciliation
Non-GAAP Operating Expenses Reconciliation Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 GAAP operating expenses $ 134 $ 179 $ 273 $ 334 Stock-based compensation 11 8 20 14 Corporate initiative transition 10 4 24 5 Litigation settlement expense — — — 1 Less: Adjustments i
Slide 21: Non-GAAP SG&A Reconciliation
Non-GAAP SG&A Reconciliation Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 GAAP selling, general and administrative expenses $ 122 $ 158 $ 245 $ 291 Adjustments within SG&A Stock-based compensation 11 8 20 14 Corporate initiative transition 4 4 10 5 Litigation settlement
Slide 22: Non-GAAP Research & Development Reconciliation
Non-GAAP Research & Development Reconciliation Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 GAAP research and development expenses $ 12 $ 21 $ 28 $ 43 Adjustments within R&D Corporate initiative transition 6 — 14 — Less: Adjustments in research and development expenses 6
Slide 23: Non-GAAP Net Income Reconciliation
Non-GAAP Net Income Reconciliation Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 GAAP net income $ 122 $ 18 $ 211 $ 65 Adjustments in cost of sales1 4 2 5 2 Adjustments in operating expenses 22 12 45 20 Adjustments in interest expense — 4 — 4 Loss on debt extinguishment —
Slide 24: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 Net income $ 122 $ 18 $ 211 $ 65 Interest (income) (3) (6) (5) (10) Interest expense 2 15 9 27 Income tax expense 38 44 65 56 Depreciation and amortization 2 3 4 5 Stock-based compensation 11 8 2
Slide 25: SUBLOCADE Indication and Highlighted Safety Information
SUBLOCADE® (buprenorphine extended-release) injection, for subcutaneous use (CIII) INDICATION SUBLOCADE is indicated for the treatment of moderate to severe opioid use disorder in patients who have initiated treatment with a single dose of a transmucosal buprenorphine product or who are already bein