REGN

• Total revenues for Q2 2026 were $4.3 billion, a 17% increase from Q2 2025.
• Dupixent global net sales (recorded by Sanofi) rose 38% to $6.0 billion; EYLEA HD U.S. net sales rose 52% to $596 million; Libtayo global net sales rose 30% to $489 million.
• The Sanofi Development Balance was fully repaid as of the end of Q2 2026.
• Full-year 2026 guidance updated: GAAP R&D $6.500–$6.635 billion, non-GAAP R&D $5.950–$6.050 billion, GAAP gross margin 78%–79%, non-GAAP gross margin 84%–85%.
• FDA and EMA accepted regulatory submissions for cemdisiran for generalized myasthenia gravis; FDA target action date November 2026.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits

• Regeneron expects an acquired in-process R&D (IPR&D) charge of approximately $127 million on a pre-tax basis for Q2 2026.
• The charge is expected to reduce both GAAP and non-GAAP net income per diluted share by approximately $1.00 for Q2 2026.
• Regeneron does not forecast such IPR&D charges due to uncertainty of future occurrence, magnitude, and timing.
• Q2 2026 results are not finalized and are subject to financial statement closing procedures.

2.02 Results of Operations and Financial Condition

• At the June 12, 2026 annual meeting, shareholders elected five Class II directors to serve until the 2027 annual meeting.
• Shareholders ratified PricewaterhouseCoopers LLP as independent auditor for fiscal year ending December 31, 2026 (102,503,788 for).
• Advisory vote on executive compensation passed with 96,469,374 votes for and 6,898,268 against.
• The report was filed under Item 5.07 to disclose the results of these shareholder votes.

5.07 Submission of Matters to a Vote of Security Holders

• GAAP net income was $727 million ($6.75 diluted EPS), down 10% from $809 million ($7.27) in Q1 2025.
• Non-GAAP net income was $1.040 billion ($9.47 diluted EPS), up 12% from $928 million ($8.22) in Q1 2025.
• Dupixent global net sales (recorded by Sanofi) rose 33% to $4.9 billion; EYLEA HD U.S. net sales rose 52% to $468 million.
• Board authorized a new $3.0 billion share repurchase program; Q1 2026 repurchases totaled $803 million.
• 2026 guidance updated: GAAP gross margin on net product sales lowered to 77%–78%; GAAP COCM raised to $955M–$1.035B.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits

• Regeneron expects an acquired in-process R&D (IPR&D) charge of approximately $102 million on a pre-tax basis for Q1 2026.
• The charge is expected to reduce both GAAP and non-GAAP net income per diluted share by approximately $0.81 for Q1 2026.
• Q1 2026 results are not finalized and are subject to financial statement closing procedures.
• Regeneron does not forecast such IPR&D charges due to uncertainty of future occurrence, magnitude, and timing.

2.02 Results of Operations and Financial Condition

• Q4 2025 total revenues were $3.884 billion, up 3% from Q4 2024; full-year 2025 revenues were $14.343 billion, up 1% from 2024.
• Dupixent global net sales (recorded by Sanofi) rose 34% in Q4 to $4.9 billion and 26% for the full year to $17.8 billion.
• EYLEA HD U.S. net sales increased 66% in Q4 to $506 million, while total EYLEA HD and EYLEA U.S. net sales fell 28% to $1.1 billion.
• FDA approved EYLEA HD for macular edema following retinal vein occlusion and monthly dosing flexibility; Libtayo approved as first immunotherapy for high-risk adjuvant CSCC.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits

• Regeneron recorded a Q4 2025 SG&A charge for matching donations to Good Days' Fund, based on ~$60 million in donations received.
• The company provided preliminary unaudited financial information for Q4 and full year 2025 at the J.P. Morgan Healthcare Conference.
• Results are not finalized and may differ after closing procedures.

2.02 Results of Operations and Financial Condition · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits

• Total revenues for Q3 2025 were $3.75 billion, a 1% increase from $3.72 billion in Q3 2024.
• Non-GAAP net income was $1.29 billion ($11.83 per diluted share), down 12% from $1.46 billion ($12.46 per diluted share) in Q3 2024.
• Dupixent global net sales (recorded by Sanofi) increased 27% to $4.86 billion; EYLEA HD U.S. net sales rose 10% to $431 million, while total EYLEA HD and EYLEA U.S. net sales fell 28% to $1.11 billion.
• The FDA issued a Complete Response Letter for the EYLEA HD pre-filled syringe sBLA due to unresolved inspection findings at Catalent; the company plans to submit a new manufacturing filler application by January 2026.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits