Slide 1: Fourth Quarter and Full Year 2025 Earnings
Fourth Quarter and Full Year 2025 Earnings February 23, 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation and the associated conference call and webcast contain forward-looking statements about the business prospects of BioMarin Pharmaceutical Inc. (BioMarin), including, without limitation, statements about: future financial performance, including the expecta
Slide 3: Q4'25 and FY'25 Earnings Agenda
Q4’25 and FY’25 Earnings Agenda: 1 Key Business Updates 2 Financial Results 3 Commercial Update 4 Research & Development Update 5 Q&A Alexander Hardy Brian Mueller Cristin Hubbard Greg Friberg Chief Executive Officer Chief Financial Officer Chief Commercial Officer Chief R&D Officer
Slide 4: Q4'25 and FY'25 Key Business Updates
Q4’25 and FY’25 Key Business Updates Alexander Hardy Chief Executive Officer 4
Slide 5: Record 2025 Performance Builds Strong Momentum into 2026
GROWTH Record 2025 Performance Builds Strong Momentum into 2026 Total Revenues Anticipated Key Highlights in 20261 $ in millions Expand Reach with New Assets +17% Q4 Y/Y +13% FY Y/Y BMN 401 $3,221 ENPP1 deficiency Fabry Disease Pompe Disease $2,854 927 Advance Lifecycle Innovation $875 735 $747 273
Slide 6: Q4'25 and FY'25 Financial Results
Q4’25 and FY’25 Financial Results Brian Mueller Chief Financial Officer 6
Slide 7: Q4 and FY'25 Growth Driven by Robust Global Demand across Portfolio
Q4 and FY’25 Growth Driven by Robust Global Demand across Portfolio Total Revenues VOXZOGO $ in millions Y/Y Change Q4 FY • Sustained strong global expansion; FY’25 $875 +17% +13% revenue ~73% outside of the U.S. (OUS) $747 • Patient additions across all regions 273 +31% +26% • Q4’25 benefited from
Slide 8: FY'25 Results Reflect Strong Execution and Underlying Performance
GROWTH FY’25 Results Reflect Strong Execution and Underlying Performance ROCTAVIAN Charges Incurred in Q4’25 FY 2025 Results • $240M ($0.94 after-tax diluted EPS impact) charges on a GAAP basis due to the company’s decision to Y/Y In millions, except percentages and per FY’25 voluntarily withdraw RO
Slide 9: Full-year 2026 Guidance
Full-year 2026 Guidance (Excludes Post-close Contributions from Amicus Acquisition1) 2026 Anticipated 2025 Actual 2026 Guidance Quarterly Dynamics As of February 23, 2026 (In millions, except per share amounts) • Due to order timing, Q1’26 Total Revenues and VOXZOGO Total Revenues $3,221 $3,325 to $
Slide 10: Commercial Update
Commercial Update Cristin Hubbard Chief Commercial Officer 10
Slide 11: Strong Enzyme Therapies Growth Led by PALYNZIQ
Enzyme GROWTH Therapies Strong Enzyme Therapies Growth Led by PALYNZIQ Enzyme Therapies FY’25 Revenue Growth across every product in Enzyme $ in millions Therapies portfolio, Y/Y +9% Y/Y • 9% Y/Y growth driven by new patient starts across all products and consistently high adherence rates +7% • Pote
Slide 12: VOXZOGO: FY'25 26% Y/Y Driven by Global Expansion
Skeletal Conditions VOXZOGO: FY’25 26% Y/Y Driven by Global Expansion Revenue Over 5,000 children with achondroplasia $ in millions now treated with VOXZOGO; +26% Global expansion expected in 2026 • Rapid uptake in newly launched markets in 2025 • In Q4’25, approximately half of new U.S. starts in
Slide 13: Research & Development Update
Research & Development Update Greg Friberg Chief R&D Officer 13
Slide 14: Cumulative Growth with VOXZOGO Treatment from Infancy Provides Clinically Important Health Benefits
Evidence that Cumulative Growth with VOXZOGO Treatment from Infancy Provides Clinically Important Health Benefits Preventing complications Increased Functionality Neurological Improved mobility/gait Foramen magnum stenosis • In an observational study, vosoritide & sleep testing provided clinically s
Slide 15: BMN 333: Phase 2/3 Study Design for BioMarin's Long-Acting CNP
BMN 333: Phase 2/3 Study Design for BioMarin’s Long-Acting CNP Registration-enabling Study Designed to Target Superior Profile; Planned for 1H’26 Start BMN 333 Phase 2/3 Study Design1 Enrollment to Begin 1H’26 Key Highlights • Phase 2 dose-ranging portion planned to include BMN 333 350 µg/kg three d
Slide 16: Anticipated 2026 Pipeline Highlights Across Therapeutic Areas
Anticipated 2026 Pipeline Highlights Across Therapeutic Areas 3 Major Data Readouts and Planned Submissions for Regulatory Approval 6 New Opportunities across Skeletal Conditions 5 new indications: hypochondroplasia, idiopathic short BMN 401 stature, Noonan syndrome, Turner hypochondroplasia achondr
Slide 17: BioMarin
IOMARIN B
Slide 18: Appendix
Appendix Reconciliation of GAAP Reported to Selected Non-GAAP Adjusted Information
Slide 19: Reconciliation of GAAP Reported Net Income to Non-GAAP Income
Reconciliation of GAAP Reported Net Income to Non-GAAP Income(1) Please refer to slide 22 for footnotes to the table 19
Slide 20: Reconciliation of GAAP and Non-GAAP R&D and SG&A Expenses
Reconciliation of GAAP and Non-GAAP R&D and SG&A Expenses(1) Please refer to slide 22 for footnotes to the table 20
Slide 21: Reconciliation of GAAP Income from Operations to Non-GAAP Income from Operations
Reconciliation of GAAP Income from Operations to Non-GAAP Income from Operations(1) Please refer to slide 22 for footnotes to the table 21
Slide 22: Reconciliation of GAAP Diluted EPS to Non-GAAP Diluted EPS
Reconciliation of GAAP Diluted EPS to Non-GAAP Diluted EPS(1) (1) Certain amounts may not sum or recalculate due to rounding. (2) These amounts were included in SG&A and represent severance costs incurred in the acquisition of Inozyme in July 2025. (3) Represents a payment triggered by a third party