Orexo Interim Report Q4 2025, incl. Full Year Report

About this update from Orexo Ab

Turning a transformative deal into new opportunities Q4 2025 highlights ›Dexcel Pharma USA aquired all rights to Zubsolv® US on December 31 , at a purchase price of USD 91 m plus the value of inventory of USD 3.8 m. Furthermore, Orexo is entitled to a contingent consideration of up to USD 16.8 m, based on future net sales during 2026 and 2027. ›Total net revenues of SEK 3.3 m (8.2) for continued operations and SEK 138.6 m (152.1) for discontinued operations (Zubsolv US business) ›Net earnings for the period is SEK 724.8 m (-116.2) of which SEK -115.6 m (-177.8) relates to continued operations and SEK 840.4 m (61.6) to discontinued operations ›Cash flow for the period is SEK 811.0 m (0.5 m) of which SEK -18.8 m (-95.2) relates to continued operations and SEK 829.8 m (95.7) to discontinued operations ›Earnings per share for continued operations before dilution SEK -3.33 (-5.15) and after dilution amounted to SEK -3.33 (-5.15) ›The Board of Directors proposes that no dividend is paid for the financial year 2025. Significant events after the end of the period ›No significant events after the end of the period. Continued operations, SEK m unless otherwise stated   2025 Oct-Dec 2024 Oct-Dec 2025 Jan-Dec 2024 Jan-Dec Net revenues 3.3 8.2 26.0 29.7 Cost of goods sold -2.6 -5.2 -14.5 -18.7 Operating expenses -103.9 -172.3 -364.3 -438.2 EBIT -103.2 -169.3 -352.7 -427.2 EBIT margin % neg. neg. neg. neg. EBITDA -70.0 -55.2 -285.7 -262.1 Earnings per share. before dilution, SEK -3.33 -5.15 -11.65 -13.86 Earnings per share. after dilution, SEK -3.33 -5.15 -11.65 -13.86 Cash flow from operating activities -23.6 -89.5 -195.4 -326.5 Cash and cash equivalents 912.4 123.3 912.4 123.3 CEO Comments in brief Zubsolv® divestment unlocks financial strength and sharpens strategic focus During the last days of 2025, we executed the most transformative strategic move since launching Zubsolv in the US - the sale of Zubsolv US rights to Dexcel . The transaction significantly strengthens the financial position of Orexo and enables continued investment in the AmorphOX technology and pipeline programs. I am also pleased to report that we have met our financial objectives for 2025, when removing the effects of the Zubsolv transaction. This includes a positive EBITDA for the year, despite continued strong currency headwinds. Uppsala, Sweden , February 5, 2026 Nikolaj Sørensen President and CEO Contact persons quarterly report Nikolaj Sørensen , President and CEO Fredrik Järrsten, EVP and CFO Lena Wange , IR & Communications Director. Tel: +46 18 780 88 00, +1 855 982 7658, E-mail: [email protected]. Presentation On February 5 , at 2 pm CET analysts, investors and media are invited to attend a presentation, incl. a Q&A. Participants may access the event via live webcast or teleconference through the following link: https://investorcaller.com/events/orexo/orexo-q4-report-2025 Prior to the call, presentation material will be available on the website under Investors/Rapport archive. This information is information that Orexo AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-02-05 07:00 CET . Attachments Orexo Q4 Interim Report 2025 Incl FY Report Publ Feb 5 © Modular Finance, source Nordic Press Releases

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