Slide 1: Year End Results
Year End Results Period Ended December 31, 2024 © Genmab 2025
Slide 2: Forward looking statement
Forward looking This presentation contains forward looking statements. The words “believe”, “expect”, rates of patient recruitment, unforeseen safety issues resulting from the administration of our statement “anticipate”, “intend” and “plan” and similar expressions identify forward looking statement
Slide 3: Strategic Partnerships, Collaborations, and Licensing Agreements
Strategic Partnerships, Collaborations, and Licensing Agreements As part of Genmab’s Full Year 2024 Results presentation, we will discuss several products developed in collaboration with strategic partners or that are the result of product or technology licenses with other companies. This slide is a
Slide 4: Genmab 2024: Strengthening Our Foundation, Investing in Future Success
Genmab 2024: Strengthening Our Foundation, Investing in Future Success Accelerating development of our late-stage pipeline Maximizing potential of our commercialized medicines Delivering on our capital allocation priorities Exceptional financial performance For Investor audience only. Not fo
Slide 5: Genmab in 2024: Delivering Substantial Growth and Profitability
Genmab in 2024: Delivering Substantial Growth and Profitability 31% Total Revenue Growth Focused investments & 26% Operating Profit Growth delivering on our financial commitments ~ USD 500M Share Buyback USD 1.8B Acquisition USD 3.0B Cash For Investor audience only. Not for public information or use
Slide 6: Advancing the Best-in-class and First-in-class Pipeline with Transformative Potential
Advancing the Best-in-class and First-in-class Pipeline with Transformative Potential Clinical Phase Regulatory Program Target Technology PHASE 1 PHASE 2 PHASE 3 Approval* EPKINLY CD3, CD20 DuoBody TIVDAK Tissue factor ADC Rina-S FRα ADC Acasunlimab PD-L1, 4-1BB DuoBody (GEN1046) GEN1042 CD40, 4-1BB
Slide 7: Accelerating the Potential of EPKINLY in Earlier Lines of Therapy
Accelerating the Potential of EPKINLY in Earlier Lines of Therapy Establishing EPKINLY as the Core Therapy in B-Cell Lymphomas Five Phase 3 trials driving Brand Opportunity development across histologies & earlier lines of therapy to significantly expand patient opportunity • Differentiated clinical
Slide 8: $3B+ Blockbuster Potential for EPKINLY in DLBCL and FL
$3B+ Blockbuster Potential for EPKINLY in DLBCL and FL Data in Largest Indication, 1L DLBCL, Anticipated in 2026 FL >$3B opportunity DLBCL 98 146 28 Number of patients >$1B opportunity 70 (000s) 30 9 18 21 6 12 3L+ 2L 1L Total Addressable (launched 2023 – 2025) (launch 2027e – 2030e) (launch 2027e –
Slide 9: Rina-S: Potential Best-in-class Treatment for Ovarian Cancer and Other FRα-expressing Tumors
Rina-S: Potential Best-in-class Treatment for Ovarian Cancer and Other FRα-expressing Tumors: Two Phase 3 Trials Anticipated in 2025 Phase 3 Trials Phase 3 trial in 2L+ PROC enrolling • All comers, regardless of FRα expression • Human monoclonal antibody directed at • Includes patients with prior ex
Slide 10: $2B+ Blockbuster Potential for Rina-S: Best-in-class FRα
$2B+ Blockbuster Potential for Rina-S: Best-in-class FRα Total Addressable Patient Population in U.S. Japan, EU 2L+ PROC >$2B opportunity 2L+ Endometrial >$1B opportunity 23 102 2L+ PSOC 1L Endometrial 25 Number of 14 patients (000s) 40 2L+ PROC 2L+ Endometrial 2L+ PSOC 1L Endometrial Total Addressa
Slide 11: Billion Dollar Market Opportunity for Acasunlimab in NSCLC
Billion Dollar Market Opportunity for Acasunlimab in NSCLC Total Addressable Patient Population in US, JP and EU High unmet need: patients that Japan have progressed on CPI EU5 Non-driver mutated 2L NSCLC - US area of high unmet need 136 What’s needed: treatment options that deliver durable 24 survi
Slide 12: Validating EPKINLY's Differentiated Profile with Continued Strong Launch Performance in 2024
Validating EPKINLY’s Differentiated Profile with Continued Strong Launch Performance in 2024 $281M* • Launch execution in the U.S. and Japan continued to build strong momentum for EPKINLY as the Core Therapy in B-cell Lymphomas • US: EPKINLY is the first-and-only BsAb approved for both 3L+ DLBCL and
Slide 13: TIVDAK Established as the Clear Answer in 2L+ Advanced Cervical Cancer
TIVDAK Established as the Clear Answer in 2L+ Advanced Cervical Cancer +45% $131M • Continued strong performance in 2024 primarily driven by breadth and depth of ordering accounts • NCCN updated Guidelines for Cervical Cancer • Upgraded to Category 1 (monotherapy) $90M • Inclusion of TV+pembro Categ
Slide 14: Our Commercialized Portfolio is Well Positioned for Growth
Our Commercialized Portfolio is Well Positioned for Growth Strong performance by Genmab commercialized brands in 2024, with meaningful contributions to overall revenue growth (29% in 2024) Building upon launch success in the US and Japan, and further expanding utilization of TIVDAK and EPKINLY Execu
Slide 15: 2024: Laser Focus on Execution Delivers Outsized Financial Results
2024: Laser Focus on Execution Delivers Outsized Financial Results Exceptional Revenue Growth Strategic Growth Investments in R&D Profitability Powered by Execution +31% +27% +26% DKK 21.5B DKK 13.8B DKK 6.7B 9% 0.5 DKK 5.3B 10% 2.1 DKK 16.5B +35% 12% DKK 10.9B 0.3 5% 81% 83% 2023 2024 2023 Deal Cos
Slide 16: 2025 Guidance: Double Digit Top-line and Operating Profit Growth
2025 Guidance: Double Digit Top-line and Operating Profit Growth 2025 2024 2025 Guidance 12% total revenue growth & 18% recurring USD Millions Actual Guidance Mid-point revenue growth Revenue 3,124 3,340 - 3,660 3,500 • Improving revenue quality Gross Profit 2,981 3,120 - 3,420 3,270 7% growth in op
Slide 17: 2025: Clear Plan to Deliver $1.1B of Operating Profit
2025: Clear Plan to Deliver $1.1B of Operating Profit* Sustained Recurring Revenue Growth Focused R&D Investments Profitability Through Discipline +7% +16% +12% USD 2.14B USD 1,130M USD 3.5B 0.06 USD 973M 5% USD 3.1B 12% +18% USD 2.01B 0.11 9% 0.04 10% 83% 81% 2024 2025e* 2024 Deal Costs R&D SG&A 20
Slide 18: Capital Allocation Framework
Capital Allocation Accelerating development of our Framework late-stage pipeline and maximizing success of our commercialized medicines Pursuing Focused Business Development & M&A Opportunities Planned Share Buyback of ~1.9M shares For Investor audience only. Not for public information or use. Not f
Slide 19: 2025 Priorities
2025 Priorities Anticipated Program Indication Event Timing Advance mid-to-late-stage pipeline HexaBody-CD38 R/R hematologic J&J opt-in decision 1Q 2025 assets: epcoritamab, Rina-S, (GEN3014) malignancies acasunlimab Epcoritamab JP regulatory decision & 3L+ R/R FL 1Q 2025 launch Expand our pipel
Slide 20: Q&A and Upcoming Investor Events
Q&A Upcoming Investor Events • COWEN 45th Annual Healthcare Conference, March 3-5, 2025 • UBS Healthcare Conference, March 4-5, 2025 • Genmab Annual General Meeting, March 12, 2025 • Nordic-American Healthcare Conference, March 26-27, 2025 • Kempen Life Sciences Conference, April 2-3, 2025 © Genmab
Slide 21: Appendix
¥Genmab Appendix © Genmab 2025 21
Slide 22: Full Year 2024 Financial Highlights
Full Year 2024 Financial Highlights 2024 2023 2024 2023 • 31% increase in revenue & 35% DKKM Change USDM * increase in recurring revenue Total Revenue 21,526 16,474 5,052 3,124 2,391 Royalties 17,352 13,705 3,647 2,518 1,989 • 27% growth in investment driven Net Product Sales/Collaboration Revenue**