Roche Holding Ltd · SIX:RO
Roche — YTD Sep 2026 Earnings Presentation
55 slides from Roche's earnings presentation, Oct 22, 2026
Slide 1: Roche
Slide 2: Forward-looking statements
2 This presentation contains certain forward-looking statements. These forward-looking statements may be identified by words such as ‘believes’, ‘expects’, ‘anticipates’, ‘projects’, ‘intends’, ‘should’, ‘seeks’, ‘estimates’, ‘future’ or similar expressions or by discussion of, among other things, s
Slide 3: Roche YTD September 2026 sales
Roche YTD September 2026 sales Basel, 22 October 2026
Slide 4: Group
Group Thomas Schinecker Chief Executive Officer
Slide 5: Performance, Portfolio progress, Outlook
Performance Portfolio progress Outlook
Slide 6: YTD Sep 2026: Continued strong financial performance
YTD Sep 2026: Continued strong financial performance YTD September results all at CER ▪ Group sales growth +6%, Pharma +7% and Diagnostics +4%; Q3 Pharma sales in Japan positively impacted by timing effects related to the implementation of the new enterprise resource planning (ERP) system ▪ LOE impa
Slide 7: YTD Sep 2026: Strong Pharma sales driving Group growth
YTD Sep 2026: Strong Pharma sales driving Group growth Currency impact improving throughout the year: Q1: -11%p, Q2: -4%p, Q3: +1%p YTD Sep YTD Sep 2026 2025 Change in % CHFbn CHFbn CHF CER Pharmaceuticals Division 36.2 35.6 2 7 Diagnostics Division 10.3 10.3 0 4 Roche Group 46.5 45.9 1 ##### 6 CER:
Slide 8: YTD Sep 2026: Consistent strong growth across both divisions
YTD Sep 2026: Consistent strong growth across both divisions Q3 Pharma sales in Japan positively impacted by timing effects due to ERP system implementation Group sales growth %CER +15% 6% excl. ERP effect in JP +9% +9% +9% +9% +10% +8% +8% +7% +6% +6% +6% +5% +5% +2% +1% +2% +1% 0% COVID-19 pandemi
Slide 9: Key growth drivers of the Roche portfolio
Key growth drivers of the Roche portfolio Growth driven by a broad and diversified portfolio 2026 sales Diagnostics: Pathology Lab with strong +4% (CHFbn, YoY CER growth) growth; Core Lab growing despite China Phesgo: Conversion ongoing; HER2+ BC franchise healthcare pricing reforms to peak in 2026
Slide 10: Performance, Portfolio progress, Outlook
Performance Portfolio progress Outlook
Slide 11: Pharma: Up to 20 NMEs with launch potential by 2030
Pharma: Up to 20 NMEs with launch potential by 2030 Two recent additions: Tam-Peli in SCLC and NSCLC, and VEGF x IL6 DutaFab in DME afimkibart 0.5-1bn peak sales 1-2bn peak sales enicepatide IBD, RA, MASH >3bn peak sales Obesity +/- T2D 2-3bn peak sales sefaxersen1 tifeglipron (CT-996) IgAN Obesity
Slide 12: Pharma: Portfolio health further improved with higher PTS and value
Pharma: Portfolio health further improved with higher PTS and value YTD Phase III success rate exceeding 80% Risk-reward profile of assets with PivGo decisions pre- vs post-Bar1, NMEs only YTD key late-stage readouts 7 positive Ph III readouts divarasib (KRASCENDO 1) 2L+ KRAS G12C+ NSCLC giredestran
Slide 13: Pharma: 6 platform discovery deals since HY 2026
Pharma: 6 platform discovery deals across modalities and TAs since HY ’26 Ongoing pipeline prioritization and BD further strengthening clinical portfolio Clinical pipeline evolution (NME additions / removals)1 Platform discovery partnerships Next gen. CDK4/2i in breast cancer LA amylin analog 6 deal
Slide 14: Pharma AI journey shifting to realizing value
Pharma AI journey shifting from foundation building to realizing value Increase in research portfolio productivity driven by Lab-in-the-Loop implementation AI Strategy Big Ideas: Lab-in-the-Loop (AI in early R&D) ▪ 85k employees trained Lead Identification Go Lead Optimization Go Internal Developmen
Slide 15: Diagnostics: Key technology launches driving future growth
Diagnostics: Key technology launches driving future growth Strong launch momentum of AXELIOS sequencing solution with very positive customer feedback Key platform launches AXELIOS 1 Sequencing launch momentum Molecular Lab Core Lab Near Patient Care ~1/3 of the Year 1 order target (100 instruments)
Slide 16: Performance, Portfolio progress, Outlook
Performance Portfolio progress Outlook
Slide 17: A strong base to deliver long-lasting future growth
A strong base to deliver long-lasting future growth Year end 2025 pipeline successes provide a clear path for sustained and strong growth beyond 2030 Potential launches by YE 2027 illustrative divarasib in 2L NSCLC vamikibart in UME Enspryng in MOGAD & TED Business development ▪ BD to further accele
Slide 18: 2026 guidance confirmed
2026 guidance confirmed LOE impact of roughly CHF 0.6bn expected for 2026 Group sales growth1 Mid single digit sales growth Core EPS growth1 High single digit Core EPS growth Dividend outlook Further increase dividend in Swiss francs 1. At CER: Constant exchange rates (avg. full year 2025); LOE: Los
Slide 19: Finance
Finance Alan Hippe Chief Financial Officer
Slide 20: YTD Sep 2026: Group growth +6% at CER
YTD Sep 2026: Group growth +6% at CER Business growth exceeding impact of healthcare pricing reforms in China and LOE +6% at CER CHFm +558 -170 -355 -2,164 +2,761 46’493 45’862 YTD Sep 2025 Pharma LOE Dia China Fx YTD Sep 2026 (excl. LOE) (excl. China) healthcare pricing reforms Totals may include d
Slide 21: Exchange rate impact on sales growth
Exchange rate impact on sales growth Negative impact mainly driven by the USD, JPY, EUR, ARS (LATAM) and TRY (Other) -0.3%p -0.3%p CER -2.9%p sales growth 2026 vs. CHF 2025 +6.2% sales growth 2026 -0.1%p -0.7%p vs. 2025 -0.5%p +1.4% CER EUR APAC USD LATAM JPY Other CHF CER: Constant exchange rates (
Slide 22: Expected 2026 currency impact
Expected 2026 currency impact USD / CHF Assumed avg. YTD 2026 -13% -9% -6% -3% 0.90 Assuming the 30 September 2026 exchange rates remain 0.86 0.84 0.83 stable until the end of 2026. 0.78 0.79 2026 impact1 is expected to be (%p): 0.80 0.80 Q1 Q2 Q3 Q4 0.79 0.77 0.79 0.79 0.78 0.80 0.81 0.81 0.82 0.83
Slide 23: 2026 guidance confirmed
2026 guidance confirmed LOE impact of roughly CHF 0.6bn expected for 2026 Group sales growth1 Mid single digit sales growth Core EPS growth1 High single digit Core EPS growth Dividend outlook Further increase dividend in Swiss francs 1. At CER: Constant exchange rates (avg. full year 2025); LOE: Los
Slide 24: Pharmaceuticals Division
Pharmaceuticals Division Teresa Graham CEO Roche Pharmaceuticals
Slide 25: YTD Sep 2026: Pharmaceuticals sales
YTD Sep 2026: Pharmaceuticals sales Q3 sales in Japan positively impacted by timing effects related to the implementation of a new ERP system YTD Sep YTD Sep 2026 2025 Change in % CHFm CHFm CHF CER 6% excl. ERP effect in JP Pharmaceuticals Division 36,212 35,555 2 7 United States 18,712 18,798 0 5 E
Slide 26: YTD Sep 2026: Diversified set of key growth drivers
YTD Sep 2026: Diversified set of key growth drivers Xolair 20% Hemlibra 12% Ocrevus 7% Phesgo 18% Vabysmo 10% Polivy 24% Evrysdi 18% Lunsumio 187% Tecentriq 5% Columvi 67% Itovebi 153% Elevidys 37% Alecensa 6% Enspryng 28% Gazyva 7% MabThera / Rituxan 3% US Lucentis -34% Europe Xofluza -24% Avastin
Slide 27: Phesgo and Tecentriq driving Oncology growth
Oncology/Hematology Phesgo and Tecentriq driving Oncology growth Giredestrant US approvals expected in Q4 in adjuvant and post-CDKi HR+ breast cancer Q3 update Itovebi ▪ Phesgo: Global conversion rate climbing to 59%* CHF 163m / +153% Others CHF 423m / -8% ▪ Perjeta: Conversion to Phesgo ongoing Ava
Slide 28: Continued strong growth across the entire Hematology portfolio
Oncology/Hematology Continued strong growth across the entire Hematology portfolio Positive Ph III (CELESTIMO) for Lunsumio in 2L+ FL achieved Lunsumio Q3 update CHF 206m / +187% PiaSky ▪ Hemlibra: Established SoC with strong global growth; high single Columvi digit growth expected for FY CHF 52m /
Slide 29: Ocrevus: Global growth driven by SC adoption
Neurology Ocrevus: Global growth driven by SC adoption Fenebrutinib in RMS/PPMS filed in the US; Enspryng in MOGAD filed in the US and EU Q3 update Elevidys Others ▪ Ocrevus: ~56,000 patients on Ocrevus SC globally CHF 291m / +37% CHF 230m / -19% ▪ US: ~60% of SC volume coming from community Enspryn
Slide 30: Ocrevus Zunovo (SC) with strong global launch momentum
Neurology Ocrevus Zunovo (SC) with strong global launch momentum Ocrevus SC high concentration on-body injector (OBI) data expected in 2027 Ocrevus SC uptake Global patient count (thousands) IV/SC conversion rate (% of total Ocrevus volume)1 60 25% 50 20% 40 15% 30 10% 20 10 5% 0 0% Q3 Q4 Q1 Q2 Q3 Q
Slide 31: Fenebrutinib: First & only BTKi with positive Ph III in RMS and PPMS
Neurology Fenebrutinib: First & only BTKi with positive Ph III in RMS and PPMS New RMS data presented at MSToronto reinforce comprehensive effect on progressive biology New fenebrutinib data in RMS No evidence of disease activity - 70% risk Progressive biology MRI – 23% relative Continued improvemen
Slide 32: Fenebrutinib: ARR reduction positions it as a high efficacy DMT
Neurology Fenebrutinib: ARR reduction positions it as a high efficacy DMT Fenebrutinib is the first and only oral to demonstrate >50% improvement in ARR vs. active comparator in RMS Fenebrutinib ARR efficacy categorization2 Pooled ARR1 Ph III FENhance 1/2 in RMS High efficacy: ~50-60% reduction of A
Slide 33: Xolair driving overall Immunology growth
Immunology Xolair driving overall Immunology growth Sefaxersen: BIC potential for selective complement suppression in IgAN* Q3 update ▪ Xolair: Growth driven by food allergy Others CHF 598m / -8% Actemra ▪ Food allergy: >145,000 patients treated since launch CHF 1,621m / -10% MabThera/ ▪ First US bi
Slide 34: Vabysmo with continued global market expansion
Ophthalmology Vabysmo with continued global market expansion Enspryng in TED approved in the US; Susvimo in nAMD approved in the EU Q3 update Susvimo Others ▪ Vabysmo: Continued global growth and market share gains CHF 12m / +107% CHF 57m / -32% ▪ US: >60% of patient starts are naïve ▪ Strong uptake
Slide 35: CVRM pipeline progressing with new Ph III starts announced
Cardiovascular, Renal & Metabolism CVRM pipeline progressing with new Ph III starts announced Positive Ph II data for enicepatide and petrelintide in obesity + T2D and tifeglipron (CT-996) in obesity Clinical development Q3 update ▪ Enicepatide: Asset Indication Ph I Ph II Ph III ▪ Positive Ph II (1
Slide 36: Roche ambition to become a top 3 player in obesity
Cardiovascular, Renal & Metabolism Roche ambition to become a top 3 player in obesity Two key NMEs to be developed as monotherapies and in combination Enicepatide Petrelintide MoA Clinical development plan MoA Clinical development plan Indication Ph I Ph II Ph III Indication Ph I Ph II Ph III OW/OB
Slide 37: 2026: Key newsflow outlook
2026: Key newsflow outlook* Fenebrutinib in RMS and PPMS filed in US Compound Indication Milestone giredestrant adjuvant HR+/HER2- early BC US/EU filing (US) giredestrant + everolimus post CDKi HR+/HER2- mBC EU filing/US approval Gazyva SLE US/EU filing (US&EU) Gazyva INS US/EU filing (US&EU) Enspry
Slide 38: 2027: Key newsflow outlook
2027: Key newsflow outlook* Compound Indication Milestone divarasib 2L KRAS G12C+ NSCLC US/EU approval Lunsumio + Polivy 2L+ DLBCL US approval Lunsumio 2L+ FL US/EU filing Hemlibra Autoinjector US/EU approval PiaSky aHUS US/EU approval fenebrutinib RMS US approval fenebrutinib PPMS US approval Regul
Slide 39: Diagnostics Division
Diagnostics Division Matt Sause CEO Roche Diagnostics
Slide 40: YTD Sep 2026: Diagnostics sales
YTD Sep 2026: Diagnostics sales Diagnostics growing at +4%, impacted by China healthcare pricing reforms YTD Sep YTD Sep 2026 2025 Change in % CHFm CHFm CHF CER Diagnostics Division 10,281 10,307 0 4 Core Lab 5,755 5,688 1 5 Molecular Lab 1,836 1,861 -1 3 Near Patient Care 1,348 1,477 -9 -5 Patholog
Slide 41: YTD Sep 2026: Diagnostics highlights
YTD Sep 2026: Diagnostics highlights Diagnostics growing at +4%, impacted by China healthcare pricing reforms CHFbn YoY CER growth ▪ Immunodiagnostics (+4%) Core Lab +5% ▪ Clinical chemistry (+9%) Molecular Lab +3% ▪ Transplant (+17%) Near Patient ▪ BGM (+1%) -5% ▪ Liat POC MDx (-21%) Care EMEA Nort
Slide 42: YTD Sep 2026: Diagnostics regional sales
YTD Sep 2026: Diagnostics regional sales North America +9% EMEA ~33% of divisional sales +3% ~36% of divisional sales Asia Pacific Latin America -4% +12% ~23% of divisional sales ~8% of divisional sales Growth rates at constant exchange rates (avg. full year 2025); EMEA: Europe, Middle East and Afri
Slide 43: AXELIOS Sequencing solution
AXELIOS Sequencing solution New customer data and collaborations demonstrate AXELIOS capabilities across applications Mixed Single Cell Libraries Simplex & Duplex WGS Target Enrichment Collaboration in Core Lab Operations1 in Rare Diseases2 with Twist Bioscience Fibroblast stromal Mural vascular Neu
Slide 44: CE mark for cobas HDV
CE mark for cobas® HDV First fully automated diagnostic solution to identify the most severe form of viral hepatitis Global Prevalence of HDV/HBV1 Market opportunity and differentiation Europe Western Pacific ▪ Hepatitis D affects nearly 12m people1 and severely impacts people 3% 4.1% already carryi
Slide 45: Ebola and Cyclospora PCR tests
Ebola and Cyclospora PCR tests Rapid outbreak response to evolving public health needs Roche’s rapid response capabilities Ebola Bundibugyo virus test ▪ Developed a molecular test1 within six days of the virus genome “Rapid-response” library publication 15,000 test pre-designs >3,000 +control materi
Slide 46: Diagnostics key launches 2026
Diagnostics key launches 2026 Area Product Description Market Status Molecular Novel high-throughput solution for ultra-rapid, scalable, and flexible sequencing powered by Sequencing by Systems Lab AXELIOS 1 Sequencing Solution Expansion (SBX) technology Global Non-invasive blood-based biomarker to
Slide 47: Doing now what patients need next
Doing now what patients need next
Slide 48: Changes to the development pipeline
Changes to the development pipeline Q3 2026 update New to phase I New to phase II New to phase III New to registration 4 NMEs: 1 NME: 1 NME: 1 NME: RG6527 NME - COPD RG6794 vustanaciclib (CDK4/2i) - HR+ HER2- BC RG68493 petrelintide - obesity +/- T2D RG6179 vamikibart – UME RG6767 NME - immunology R
Slide 49: Roche Group development pipeline
Roche Group development pipeline Phase I (33 NMEs + 6 AIs) Phase II (11 NMEs + 5 AIs) RG6026 Columvi monotherapy + combos heme tumors RG6498 - IBD RG6114 Itovebi + enzalutamide CRPC RG6171 giredestrant monotherapy + combos solid tumors RG6527 - COPD RG6114 Itovebi + ribociclib + fulvestrant 1L HR+ P
Slide 50: Roche Group development pipeline
Roche Group development pipeline Phase III (13 NMEs + 22 AIs) Registration US & EU (3 NMEs + 8 AI) RG3502 Kadcyla + T HER2+ eBC high-risk RG6149 astegolimab COPD giredestrant + post-CDK4/6 ER+/HER2- BC RG6171 everolimus† RG6013 Hemlibra Type 3 VWD RG62992 sefaxersen (ASO factor B) IgA nephropathy gi
Slide 51: Expected regulatory submissions
Expected regulatory submissions New Molecular Entities: Lead and additional indications New Molecular Entity (NME) Cardiovascular, Renal & Metabolism Additional Indication (AI) Neurology Oncology / Hematology Ophthalmology Immunology Other Filing timelines reflect the anticipated filing of a potenti
Slide 52: Expected regulatory submissions
Expected regulatory submissions Marketed products: Additional indications New Molecular Entity (NME) Cardiovascular, Renal & Metabolism Additional Indication (AI) Neurology Oncology / Hematology Ophthalmology Immunology Other Ocrevus OBI RG1594 RMS, PPMS Filing timelines reflect the anticipated fili
Slide 53: Major pending approvals 2026
Major pending approvals 2026 US EU China Japan-Chugai giredestrant + everolimus Gazyva Gazyva Tecentriq RG6171 post-CDK4/6 ER+/HER2- BC RG7159 systemic lupus erythematosus RG7159 lupus nephritis RG7446 Adjuvant MRD+ bladder cancer Filed December 2025 Filed February 2026 Filed March 2026 Filed Januar
Slide 54: Major granted approvals 2026
Major granted approvals 2026 US EU China Japan-Chugai Tecentriq Susvimo Polivy + chemo Lunsumio + Polivy RG7446 ctDNA+ high-risk MIBC RG6321 wAMD RG7596 r/r DLBCL RG7828 r/r large B-cell lymphoma May 2026 September 2026 March 2026 March 2026 Gazyva Alecensa childhood onset idiopathic nephrotic RG785
Slide 55: Doing now what patients need next
Doing now what patients need next