Slide 1: Quarter End Results
Quarter End Results Period Ended March 31, 2026 © Genmab 2024
Slide 2: Forward-looking statement
Forward-looking This presentation contains forward looking statements. The words “believe”, “expect”, “anticipate”, “intend” and “plan” and similar expressions identify forward looking statements. All statements other statement than statements of historical facts included in this presentation, inclu
Slide 3: Q1 2026: Strong execution and Long-term Value creation
Q1 2026: Strong execution and Long-term Value creation Focused investments & 25% total revenue growth delivering on our financial 23% operating profit growth* commitments EPKINLY®: hospitalization Petosemtamab: Merus Rina-S®: Initial combo data; recommendation removed from integration on track 3 new
Slide 4: Expanding Development Plan for Rina-S
Expanding Development Plan for Rina-S® Clinical Phase Trial Indication PHASE 1 PHASE 2 PHASE 3 RAINFOL -02 2L+ PROC Fully Enrolled RAINFOL -03 2L+EC RAINFOL -04 2L PSOC maintenance Rina-S® RAINFOL -07 2L PSOC platinum-doublet New chemo replacement RAINFOL -08 1L pMMR EC New RAINFOL -05 PoC NSCLC RAI
Slide 5: 2026: Up to Seven Registrational Readouts Enabling 2027 Launches
2026: Up to Seven Registrational Readouts Enabling 2027 Launches Rina-S® Petosemtamab • Ph 2 2L+ PROC (RAINFOL -01) • Ph 3 1L r/m HNSCC (LiGeR-HN1) and/or Ph 3 2L/3L r/m HNSCC • Ph 3 2L+ PROC (RAINFOL -02) (LiGeR-HN2) • H2 2026 • H2 2026 EPKINLY® • Ph 3 1L DLBCL • Ph 3 2L+ DLBCL combo + len • Ph 3 2
Slide 6: Starting 2026 with Strong Results for Proprietary Medicines
Starting 2026 with Strong Results for Proprietary Medicines PROPRIETARY PORTFOLIO SALES1 Q1 HIGHLIGHTS Continued strong growth of proprietary portfolio is +43% progressing shift to a wholly-owned model $176M Proven launch excellence in hematology and $123M gynecologic oncology demonstrates strength
Slide 7: Q1 Performance Underscores Strength of Science and Market Differentiation
Q1 Performance Underscores Strength of Science and Market Differentiation NET SALES Q1 HIGHLIGHTS EPKINLY® Q1 2026 YoY • EPKINLY® is the only BsAb approved in both DLBCL and FL indications • Increased adoption across academic and community sites reaffirms value of EPKINLY® as a single $137M +52% BsA
Slide 8: Commercialization Excellence will Drive Sustained Growth
Commercialization Excellence will Drive Sustained Growth Priorities Progress Grow adoption of TIVDAK® and • Continued performance of proprietary portfolio setting strong foundation to support growth trajectory EPKINLY® Expand to new markets and • Expanding TIVDAK® to new markets and building momentu
Slide 9: Q1 2026: Sustained Growth and Disciplined Investment
Q1 2026: Sustained Growth and Disciplined Investment Solid Revenue Growth Strategic Growth Investments in R&D Profitability Powered by Execution USD 896M USD 596M USD 237M 3% USD 480M USD 193M 15% USD 715M 5% 13% 83% 82% Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Royalties Operating Expenses* O
Slide 10: 2026 Guidance: Revenue Growth Funds Strategic Investment
2026 Guidance: Revenue Growth Funds Strategic Investment 2026 2026 Guidance USD Millions Guidance* Mid-point* 14% total revenue growth • EPKINLY® and continued Revenue 4,065 - 4,395 4,230 momentum in royalty portfolio supports growth and revenue quality Gross Profit 3,810 - 4,110 3,960 Planned & Foc
Slide 11: Summary: Strong Financial Foundation Positions Genmab for Growth
Summary: Strong Financial Foundation Positions Genmab for Growth Growing revenue streams and significant underlying profitability Focused and disciplined investment approach Significant growth opportunities supported by our capital allocation strategy For Investor audience only. Not for public
Slide 12: Our 2026 Capital Allocation Priorities
Our 2026 Capital Allocation Priorities: on the Path to Our Next Decade of Durable Growth Accelerating development of our late- stage pipeline and maximizing success of our commercialized medicines including launch readiness Focused integration of Merus to accelerate value capture Deleveraging:
Slide 13: Q&A Upcoming Investor Events
Q&A Upcoming Investor Events ASCO Annual Meeting, May 29 - June 2, 2026 EHA 2026 Congress, June 11 – 14, 2026 Jefferies Global Healthcare Conference, June 4, 2026 Goldman Sachs Annual Conference, June 8, 2026 Citi European Healthcare Leaders Conference, June 10, 2026 © Genmab 2026 J.P. Morgan Health
Slide 14: Appendix
Appendix © Genmab 2026 14
Slide 15: Strategic Partnerships, Collaborations, and Licensing Agreements
Strategic As part of Genmab’s First Quarter 2026 Financial Results presentation, we will discuss several products developed in collaboration with strategic partners or that Partnerships, are the result of product or technology licenses with other companies. This slide is an acknowledgement of those
Slide 16: Condensed Income Statement: Three Months Ended March 31
Condensed Income Statement: Three Months Ended March 31 Q1 2026 Q1 2026 Adjusted (USD Millions) Actual Result Result* Total Revenue 896 896 Royalties 742 742 Net Product Sales/Collaboration Revenue* 130 130 Milestones and Reimbursement 24 24 Gross Profit 831 833 Operating Expenses* (651) (596) Opera
Slide 17: Reconciliation of Net Income to Adjusted Consolidated EBITDA
Reconciliation of Net Income to Adjusted Consolidated EBITDA Results of the Last Twelve Months (LTM) – Q1 2026 LTM Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2026 Net Profit $821 $53 $31 $401 $336 Plus: Corporate tax 213 21 24 81 87 Plus: Depreciation 59 16 16 14 13 Plus: Amortization 25 13 5 4 3 Plus: Shar
Slide 18: Strength of Late-Stage Pipeline: Multibillion-dollar Opportunities
Strength of Late-Stage Pipeline: Multibillion-dollar Opportunities Ongoing & Announced Phase 3 Trials Opportunity Program Indication Status Addressable Patient Population (Peak Sales) 1L DLBCL Fully Recruited 70,000 (EPCORE®DLBCL-2) 2L+ DLBCL Data January 2026 (EPCORE®DLBCL-1) 21,000 2L+ DLBCL EPKIN