Genmab A/S : First Quarter 2024 Financial Results Presentation

Quarter End Results

Period Ended March 31, 2024

Forward looking statement

This presentation contains forward looking statements. The words "believe", "expect", "anticipate", "intend" and "plan" and similar expressions identify forward looking statements. All statements other than statements of historical facts included in this presentation, including, without limitation, those regarding our financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating

to our products), are forward looking statements. Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Such forward looking statements are based on numerous assumptions regarding our present and future business strategies and the environment in which we will operate in the future. The important factors that could cause our actual results, performance or achievements to differ materially from those in the forward looking statements include, among others, risks associated with product discovery and

development, uncertainties related to the outcome of clinical trials, slower than expected rates of patient recruitment, unforeseen safety issues resulting from the administration of our products in patients, uncertainties related to product manufacturing, the lack of market acceptance of our products, our inability to manage growth, the competitive environment in relation to our business area and markets, our inability to attract and retain suitably qualified personnel, the unenforceability or lack of protection of our patents and proprietary rights, our relationships with affiliated entities, changes and developments in technology which may render our products obsolete, and other factors. Further, certain forward looking statements are based upon assumptions of future events which may not prove to be accurate. The forward looking statements in this document speak only as at the date of this presentation. Genmab does not undertake any obligation to update or revise forward looking statements in this presentation nor to confirm such statements to reflect subsequent events or circumstances after the date made or in relation to actual results, unless required by law.

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Strategic

Partnerships,

Collaborations, and

Licensing

Agreements

As part of Genmab's Q1 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 an acknowledgement of those relationships.

Partners for Genmab owned products ≥50%:

• Pfizer Inc.: tisotumab vedotin (Tivdak®)
• AbbVie Inc.: epcoritamab (EPKINLY® / TEPKINLY®)
• BioNTech SE1: Acasunlimab (GEN1046/BNT311), DuoBody®-CD40x4-1BB (GEN1042/BNT312)

Companies developing products created by Genmab or that incorporate Genmab's innovation:

• Janssen Biotech, Inc.: daratumumab, daratumumab and hyaluronidase-fihj (DARZALEX®, DARZALEX FASPRO®), amivantamab (RYBREVANT®), teclistamab (TECVAYLI®), talquetamab (TALVEY®)
• Novartis: ofatumumab (Kesimpta®)
• Amgen2: teprotumumab (TEPEZZA®)

1. Partnership is based on 50:50 profit/loss share
2. Teprotumumab was created by Genmab under a collaboration with Roche and development and commercialization of the product is now being conducted by Amgen under a license from Roche

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Driving Towards Our 2030 Vision

Well Positioned for Growth: Solid Track Record and Financial Foundation

 44 Cumulative INDs since 1999

 Innovative clinical pipeline: 10 Genmab owned ≥50%

 8 approved medicines based on Genmab's innovation and antibody expertise

 Two approved medicines co-developed and co- commercialized by Genmab: Tivdak (tisotumab vedotin- tftv) and EPKINLY/TEPKINLY (epcoritamab)

 Sustainably profitable with cash position of ~USD 4.2B  Investing in our capabilities

 Experienced, international leadership team

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Proposed Acquisition of ProfoundBio: Enhancing Genmab's Long-term Growth Profile

Evolving as a Fully

Integrated Biotech

Innovation

Powerhouse

Proposed Acquisition of ProfoundBio

Aligned with Genmab's core vision & strategy

Complementary to Genmab's mid- to late-stage clinical pipeline

Attractive medium to long-term growth profile

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The ProfoundBio transaction is pending and remains subject to customary closing conditions.

Driving Towards Our 2030 Vision:

Recent Company Events

• EPKINLY/TEPKINLY (epcoritamab)
• • Additional regulatory approvals / submissions
  • New Phase 3 trial previously untreated FL
  • JNDA submission, relapsed or refractory FL
  • U.S. FDA sBLA Priority Review, relapsed or refractory FL
• Tivdak (tisotumab vedotin-tftv)
• • U.S. FDA full approval in metastatic cervical cancer
  • J-NDAsubmitted in Japan
  • Inclusion in updated NCCN Clinical Practice

Guidelines in Oncology for Vaginal Cancer

• Multiple data presentations across programs
• Acasunlimab (GEN1046/BNT311)
• • Phase 2 second-line NSCLC data to be presented at ASCO
• Products Powered by Genmab's Innovation
• • RYBREVANT (Janssen): U.S. FDA approval converting accelerated approval to full approval
  • DARZALEX (Janssen): regulatory submissions based on Phase 3 Perseus data

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Select Royalty Medicines Portfolio Performance

Net sales

Q1 YoY

$2,692M 19%

$637M 66%

$133M **

DARZALEX

• Leader across lines of therapy; 1L share gains driven by long term OS data
• PERSEUS filed in transplant eligible MM incl maintenance

Kesimpta

• Strong US & ex-US growth driven by increased demand and strong access

TECVAYLI

• TECVAYLI biweekly dosing approved by the U.S. FDA

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Genmab Commercialized Medicines Performance Summary

Net sales (USD)

Q1 YoY

$54M **

Q1 YoY

$27M 42%

The CORE Therapy across B-cell Malignancies

• Strong early launch performance in US, asserting in-class market leadership
• Japan performance driven by breadth of account activation & field execution
• US 3L+ FL: US PDUFA date (6/28)

Clear answer in 2L+ cervical cancer

• Strong account activation continued from Q4 driving performance
• Full FDA approval (4/29) based on InnovaTV 301 demonstrating OS benefit for Tivdak vs. Chemo
• Continued progress with development program across multiple tumor types

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Q1 2024: Driving Towards Our 2030 Vision

EPKINLY/TEPKINLY Regulatory Approvals & Launches

42% increase in recurring revenues

Focused Investment: expanding and accelerating our differentiated pipeline and our capabilities

Team and capabilities in place for continued success

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Royalties and Net Product Sales & Collaboration Revenue* Drive 46% YoY Total Revenue Growth

Revenue, DKK Millions

+46%

4,143

623

416

2,834

359

67

Recurring

Revenue

+42%

3,104

2,408

		Q1 2023		Q1 2024
Royalties		Net Product Sales & Collaboration Revenue		Milestone & Reimbursement Revenue

42% Recurring Revenue growth from Royalties and Net Product Sales & Collaboration Revenue

• Higher DARZALEX Royalties from 19% YoY Net
  Sales growth
• DKK 171M increase in Kesimpta royalties
• DKK 323M in EPKINLY Net Product Sales
• Operational growth 46% (~ 4% unfavorable FX impact)

Milestone and Reimbursement Revenue up DKK 264M due primarily to AbbVie milestone related to Priority Review for EPKINLY sBLA

• •In countries where Genmab is the Commercial Lead, we record 100% of the net product sales and record net profit-sharing amounts owed to collaboration partners in Cost of Product Sales. •In countries where our Partner is the Commercial Lead and we participate in Commercialization efforts, we record Genmab's share of net profits as Collaboration Revenue.
  •In countries where we do not participate in Commercialization efforts, we receive and record Royalty income.

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