Regeneron Pharmaceuticals — Jan 12, 2026 release

YoY growth 27% WW YoY growth Q3 2025 global net sales $365M 27% WW YoY growth Q4 2025 U.S. net sales $1.1B 6 Deploying capital to maximize long-term value creation Disciplined capital allocation approach laying the foundation for Regeneron’s next wave of innovation * Reflects estimated Non-GAAP R&D expense, which excludes SBC. GAAP R&D expense for 2026 is estimated to be ~$6.5 billion. Formal financial guidance will be provided at Q4 2025 earnings. † License agreement with Hansoh Pharma. ‡ Global collaboration with Tessera Therapeutics, Inc. is subject to customary closing conditions, including applicable regulatory agency clearances under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in the U.S. § Based on preliminary, unaudited results. As of December 31, 2025, ~$1.5B was remaining under current share repurchase program. Internal Investment Investing in world-class R&D capabilities and infrastructure to support sustainable growth Leveraging external innovation to complement internal R&D Expand through complementary opportunities across early and late development stages • Collaboration with Alnylam, including in-licensing of cemdisiran (C5 siRNA) • GLP-1/GIP in-licensed for obesity franchise expansion† • Global collaborations for investigative gene editing therapies with Intellia, Mammoth and Tessera ‡ Rewarding shareholders through opportunistic share repurchases and dividends ~$6B committed to U.S. manufacturing and R&D infrastructure expansion over the coming years Non-GAAP R&D* spend expected in 2026 $7B+ Capital returned to shareholders i