Slide 1: FY2025 Financial Results and Business Update
FY2025 (Fiscal Year Ended March 31, 2026) Financial Results and Business Update Eisai Co., Ltd. May 15, 2026
Slide 2: FY2025 Financial Highlights
hhe mort FY 2025 Financial Highlights Revenue @ 825.4 billion yen +4.6% Yor m@ Pharmaceutical business (organic business) delivered strong growth, driving consolidated revenue to a record high Operating profit @ 44.1 billion yen -18.8% voy @ Operating profit contribution from the pharmaceutical busi
Slide 3: FY2025 Consolidated Statement of Income (IFRS)
hhe human health care FY2025 Consolidated Statement of Income (IFRS) Consolidated revenue was record-high at 825.4 billion yen, marking +5% YoY While operating profit declined due to strategic decisions to forego product out-licensing/ divestiture in consideration of enhancing mid- to long-term corp
Slide 4: Analysis of Revenue Increase/Decrease
hhe senion Analysis of Revenue Increase/Decrease m Revenue marked a record-high at 825.4 billion yen, driven by the growth of 3L” products m Pharmaceutical business revenue increased by 8% YoY to 810.8 billion yen |: Revenue +36.0 billion yen (+4.6%) 68.3 6.6 258 Products excluding 3L 825.4 Mamiya O
Slide 5: Analysis of Operating Profit Increase/Decrease
hhe human health care Analysis of Operating Profit Increase/Decrease B While profit decreased in FY2025, due to 1) strategic decisions to forego product out-licensing/ divestiture, 2) recognition of expenses related to structural reforms in Europe, and 3) inventory valuation losses following the dis
Slide 6: Adoption of Core Operating Profit
hhe cane Adoption of Core Operating Profit — To clarify the fundamental earnings, we adopted “Core operating profit” as a new performance indicator linked to mid-to long-term enhancement of corporate value, and will continue to disclose @ “Core operating profit” is defined as fundamental earnings ca
Slide 7: Adoption of New Capital Efficiency Indicator “Adjusted ROIC”
een Adoption of New Capital Efficiency Indicator “Adjusted ROIC” @ ROE is susceptible to the impact of temporary income and expenses, as well as equity components not directly linked to operating activities, such as foreign exchange translation adjustments. Since these account for approximately 30%
Slide 8: FY2026 Consolidated Financial Forecast (IFRS)
hhe human health care FY2026 Consolidated Financial Forecast (IFRS) ™ Through achieving profitability in the LEQEMBI business and improving efficiency on cost structure as result of structural reforms, we aim to drive a substantial increase in core operating profit, representing organic business gro
Slide 9: Strategic Investments Aimed at Strengthening Pipeline
hhe s=ne Strategic Investments Aimed at Strengthening Pipeline H In-licensing investments implemented to support further growth, with launch preparations progressing steadily @ Funding sources have been diversified and registration for corporate bond issuance has been completed to support future str
Slide 10: LEQEMBI DAYVIGO LENVIMA
a LEQEMBI DAYVIGO (Lemborexant) LENVIMA SL Global No.1 AAT’ Global No.1 DORA* Global No.1 TKI* in approved cancer indications larket share in approved indications stated in slide 10. 9
Slide 11: LENVIMA: Business Updates
ene LENVIMA: Business Updates Anticancer agent: An in-house developed oral multi-kinase inhibitor with 7 indications in 5 cancer types. Expanding with monotherapy and combination therapies with KEYTRUDA® etc. Contributed to approx. 620K patients in 81 countries and territories over 10 years since it
Slide 12: DAYVIGO: Business Updates
DAYVIGO) DAYVIGO: Business Updates Insomnia treatment: An orexin receptor antagonist developed from in-house drug discovery platform targeting the orexin pathway, which is involved in the regulation of sleep and wakefulness. Approved for insomnia treatment in 27 countries and territories, including
Slide 13: LEQEMBI: Business Updates
N ry ZLEQEMBI LEQEMBI: Business Updates Treatment for Alzheimer’s disease (AD): An AAT" which reduces the rate of disease progression and slows cognitive and functional decline in adults with AD through the elimination of neurotoxic AB protofibrils and plaque. Approved in 53 countries and territorie
Slide 14: Key Findings Demonstrated with LEQEMBI Since Its Launch in 2023
hhe human health care Key Findings Demonstrated with LEQEMBI Since Its Launch in 2023 - Early initiation and long-term continuation of treatment are considered essential for slowing disease progression in the current AD treatment framework - Clarity AD OLE 48 months ‘Baseline (28E) in CORSB ‘Adjuste
Slide 15: Initiating a fundamental transformation in AD diagnosis and treatment
Initiating a fundamental transformation in AD diagnosis and treatment, started by LEQEMBI - Introduction of BBM" Confirmatory Diagnosis* and LEQEMBI IQLIK - Key bottlenecks in the AD diagnosis and treatment pathway, AB confirmatory diagnosis and the burdens of infusion for treatment would be greatly
Slide 16: Transformation in AB Confirmatory Diagnosis
hhe ston Transformation in AB Confirmatory Diagnosis & Above chart shows a concept based on internal assumption “1 Blood-based biomarker i — Simplicity — Clinical diagnosis EE cere tants PET CSF BBM" Economic burden High Moderate Low Invasiveness Low Moderate Low Ease of access | Limitation in capac
Slide 17: BBM Tests Performed and AAT Market
hhe human health care (Unit: 1,000 tests) BBM" tests performed’? 40 AB 42/40 pTau-181 mpTau 217 30 Jan-24 Jul-24 Jan-25 Jul-25 Jan-26 m= Expansion in BBM tests (AB confirmatory and triage) + Approx.12-fold increase over the past 2 years, with the number doubling every six months since Jan. 2024 m FY
Slide 18: Simplicity
Simplicity AB confirmatory diagnosis using BBM can significantly expand accessibility and its cost-effectiveness would greatly simplify AD diagnosis 17
Slide 19: Transformation in LEQEMBI Treatment
hhe ooo Transformation in LEQEMBI Treatment — Convenience” — IV Infusion Initiation (18 months): IV infusion once every 2 weeks Maintenance (after 18 months): IV infusion once every 4 weeks Medical institution Visit IV Infusion Follow-up medical institution (1 hour) (30 minutes) Return home Allocati
Slide 20: Observation of LEQEMBI Growth in the U.S.
wT. Observation of LEQEMBI Growth in the U.S. Supported by LEQEMBI IQLIK Maintenance Treatment Flexible treatment options to switch from IV to LEQEMBI IQLIK" Patients receiving LEQEMBI maintenance treatment’? LEQEMBI IV new patients’ mlV maintenance LEQEMBI IQLIK maintenance FDA approval mIQLIK main
Slide 21: Projection of Expected Impact of LEQEMBI IQLIK Initiation Treatment
wht, Projection of Expected Impact of LEQEMBI IQLIK Initiation Treatment in the First Year of Launch — Projection of new patient number — @® Market expansion with For illustrative purposes only LEQEMBI IQLIK*1 =------- He LEQEMBI IQLIK @ Share expansion with LEQEMBI LEQEMBI IQLIK” IV LEQEMBI IV Afte
Slide 22: LEQEMBI SC-AI Regulatory Status
wh he. LEQEMBI SC-AI Regulatory Status 2 FDA (US) Maintenance treatment: Approved in August 2025 Initiation treatment: Designated priority review, PDUFA action date: August 24, 2026 PMDA (Japan) Submission: Approval anticipated in Q2 FY2026 CDE (China) Submission: Designated priority review Approval
Slide 23: Convenience
Convenience LEQEMBI IQLIK for maintenance treatment received U.S. FDA approval in August 2025 and has been successfully launched on the market (Payer approval rate under insurance coverage through MEP" is estimated to be approx. 85%, introduced at approx. 600 facilities**). As for the potential init
Slide 24: LEQEMBI Value & Access Updates
hhe oon LEQEMBI Value & Access Updates China: ° Included in the new program, Commercial Insurance Innovative Drug List. * Discussions with commercial insurers regarding coverage for LEQEMBI treatment are progressing sequentially. LEQEMBI has been included in 15 commercial insurance programs includin
Slide 25: Pipeline and Key Events
hhe human health care Pipeline and Key Events Neurodegeneration ATN” Continuum Target Indication Early AD (IV Initiation/ maintenance) Development Stage Global submission/ approval Key Events Approved for initiation treatment: 53 countries and territories Approved for maintenance treatment: 7 countr
Slide 26: In FY2025, driven by growth in the organic business centered on the 3L products
he —_— In FY2025, driven by growth in the organic business centered on the 3L” products, revenue reached a record high, and core operating profit increased significantly YoY. On the other hand, operating profit decreased due to factors such as decisions to forego product out-licensing and divestitur
Slide 27: Reference Data
Reference Data
Slide 28: Consolidated Statement of Income
Consolidated Statement of Income FY2024 FY2025 FY2026 Billions of yen) “tent Rat al Forecast peel Forecast | Revenue 789.41 100% 82541 100%! — +4.6% 790.0! +0.1%! 104.5% 883.5 | Pharmaceutical business 749.0 | 94.9% 810.8 98.2% 48.2% 754.5 +0.7% | 107.5% 870.0 | 47.3% i 1 I 1 1 i Other business 404}
Slide 29: Segment Revenue
hhe human health care Segment Revenue FY2024 FY2025 FY2026 (Billions of yen) Soe Ratio oe voy GOES an porecaat oe) Pharmaceutical business total 749.0 94.9% 810.8 98.2% +8.2% 754.5 +0.7% 107.5% 870.0 47.3% I 1 I I 1 1 Japan 216.3 | 274% 229.2 | 27.8% | +6.0% 225.5 | +4.3% | 101.7% 233.5 | 41.9% i 1
Slide 30: Segment Profit
hhe human health care Segment Profit FY2024 FY2025 April-March | | %oF April-March hot (Billions of yen) Results 1 Ratio 1 revenue Ratio GEZIO Pharmaceutical business total 350.5 92.2% 46.8% 98.8% 45.3% +4.8% Japan 71.7 18.9% 33.2% 19.6% 31.8% +1.8% Americas 158.3 | 41.6% | 56.9% 46.9% | 58.0% | +10
Slide 31: Revenue from Major Products
hhe human health care Revenue from Major Products FY2024 FY2025 FY2026 t YoY 1 Lenvima 328.51 100% 342.5; 100% | +4.3% +4.0% 312.0 | -5.0% | 109.8% 345.0; +0.7% Japan 43.91 42% 144} 4.1%! +4.3% —+1.5% 130! 64%! 108.2% 13.51 -40% Americas 232.3! 70.7% 237.2! 69.2%! —-+2.1% 43.3% 2175 | 6.4% 1 109.1%
Slide 32: Performance of Japan Pharmaceutical Business
wT. Performance of Japan Pharmaceutical Business FY2024 FY2025 FY2026 (Billions of yen) aoe | Ratio bate : 5 Forecast Y iio Forecast Yoy (%) Revenue 216.31 100% 229.21 100% | +6.0% 225.5 | 44.3% 1 101.7% 233.51 +1.9% Prescription medicines 193.8! 89.6% 206.7} 90.2% | +6.7% 202.5 | +4.5% 102.1% 211.0
Slide 33: Performance of Americas Pharmaceutical Business
Me, Performance of Americas Pharmaceutical Business FY2024 FY2025 1 7 AprikMarch =! AprikMarch — ~~ 1 yy erica (Billions of yen) Resuts | SA? Results Rete wy RenEES Yor forcast YoY (%) H i Revenue 278.3 i 100.0% 300.4 H 100.0% +8,0% +9.2% 1.9% 110.1% 412.2% | Lenvima 232.3 1 83.5% 237.2 1 79.0% 42.1
Slide 34: Performance of China Pharmaceutical Business
hhe human health care Performance of China Pharmaceutical Business FY2024 FY2025 FY2026 i i April-March | April-March Progr i itor «yen so mela a perce FEM) Forecat | ore t + Revenue 115.5} 100% 1307 | +13.2% 125% 124.0| — +7.3%| 105.4% 147.0} +124% i i H i i H H H H H Lenvima 2481 21.4% 25.0! +1.0%
Slide 35: Performance of EMEA Pharmaceutical Business
hhe human health care Performance of EMEA Pharmaceutical Business FY2024 FY2025 FY2026 1 \ ApriMarch | ; April-March Progress to i s a Results i re Results Recs forecast Garces} Were) (Billions of yen) 1 4 H H H Hl H H Revenue 79.41 100% 81.5} 100% | 42.7% 3.8% TAO} 10.6%} 114.8% 73.0 | -10.5% H H '
Slide 36: Performance of East Asia Global South Pharmaceutical Business
z % o 5 = = FY2024 Performance of East Asia Global South Pharmaceutical Business Revenue Lenvima 43.8% Aricept +1241.1% +1206.5% Leqembi -3.6% -2.8% Methycobal 5.1% 5.5% Pariet 1.0% Halaven Dayvigo +9.8% Fycompa Segment profit 35
Slide 37: Safe Harbor Statement
iis Safe Harbor Statement ™@ Forecast or target figures in this material are not official earnings guidance but represent midterm strategies, goals, and visions. Official earnings guidance should be referred to in the disclosure of the annual financial report (Consolidated Financial Statement) in ac