J.P. Morgan Healthcare Conference 2025

European Medical Dermatology Leader

43rd Annual J.P. Morgan Healthcare Conference

January 2025

Disclaimer

This document has been prepared by Almirall, S.A. (the "Company") exclusively for use during the presentation . This document includes only summary information and does not intend to be comprehensive . This document may not be disclosed or published or used by any person or entity for any reason without the prior, express written consent of the Company .

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Forward looking information, opinions and statements contained herein are based on the Company's estimates (using assumptions that the Company believes to be reasonable) and on sources believed to be reliable by the Company, but have not been verified by independent experts . The Company does not warrant the completeness, timeliness or accuracy of any such information, opinions and statements, and, accordingly, no reliance should be placed on them in this connection .

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This document does not constitute an offer or invitation to acquire or subscribe for securities, in accordance with the provisions of the restated text of the Securities Market Act approved by the Spanish Law 6 /2023 of March 17 , on Securities Markets and Investment Services . Furthermore, this document does not constitute a purchase, sale or swap offer, nor a request for a purchase, sale or swap offer for securities, or a request for any vote or approval in any other jurisdiction .

Index

J.P. Morgan Healthcare Conference 2024

Ebglyss® & Atopic Dermatitis Ilumetri® & Psoriasis R&D roadmap in the next 3 years Our growth opportunity in Dermatology

Our growth opportunity in Dermatology

Almirall today: a European research-focused medical dermatology leader

We are a global biopharmaceutical company, with a leadership position in Europe, dedicated to medical dermatology, advancing skin science, and transforming patients' lives.

Partner of choice for dermatologists and patients with a broad and innovative portfolio.
Long term vision with a focus on sustained growth.
Proven track record of commercial execution, with six successful launches of internal & external assets in the past 7 years*.
Strong R&D capabilities covering the whole value chain & promising pipeline assets with disruptive potential.
Solid base business and exciting growth engine.

Medical Dermatology: remains a highly attractive market Almirall well positioned to capture growth

Entering an era of accelerating growth and margin expansion Leadership in Medical Dermatology:

Mid-term guidance: Turning point with additional net sales growth driven by biologics

Ebglyss® & Atopic Dermatitis

Ebglyss®: Significant opportunity in moderate-to-severe AD

Patient numbers treated with advanced therapies predicted to grow 4-5x by 2031

Dermatology: Novel MoAs drive higher biologics penetration.

* Patients treated with advanced therapies (Adtralza, Cibinqo, Dupixent, Ebglyss, Olumiant, Rinvoq) in EU5 (Germany, France, UK, Italy & Spain), 2018 data includes only Germany. Source: IQVIA. ** Atopic Dermatitis/Atopic Eczema in EU5 (Germany, France, UK, Italy & Spain) – Disease Landscape & Forecast, DRG Dec 2023.

Growing body of evidence of Ebglyss® as first-line treatment Ebglyss®: Sustained disease control for at least 3 years*

	Lebrikizumab** 250 mg
ADvocate 1&2 > Adjoin 3-year maintenance data	Q4W	Q2W
IGA (0,1) and ≥2-point improvement	84%	83%
EASI-90	87%	79%
Did not require high potency TCS or systemic treatment	83%	91%

16 week responder population. EASI=Eczema Area and Severity Index; EASI-90=at least a 90% improvement from baseline in EASI; IGA=Investigator's Global Assessment; IGA (0,1) = IGA response of clear or almost clear; Q2W = every 2 weeks; Q4W = every 4 weeks. ** Lebrikizumab in licensed from Dermira / Eli Lilly.

Ebglyss®: Commercial excellence in launch executions

Ebglyss®: Ongoing Collaborative Clinical Development Programme

Collaborative clinical programme to give more patients access and grow product value

	Indication	Name	Objective
	Atopic Atopic Dermatitis Dermatitis	ADlong	Long-term safety up to 5 years Long-term safety up to 5 years
		ADvantage extension	Long-term benefit in Cyclosporine non-responder or ineligible Long-term benefit in Cyclosporine non-responder or ineligible
		ADhope-1 ADhope-1	24-week effectiveness and safety 24-week effectiveness and safety
		ADhope-2 ADhope-2
PAR PAR	Atopic Atopic Dermatitis Dermatitis	ADorable-1 ADorable-1	16-week efficacy and safety in pediatric patients
		ADorable-2 ADorable-2	52-week long-term safety in pediatric patients patients
		ADjoin extension ADjoin	3-year long-term safety and Q8W 100-week long term safety and efficacy
		ADapt ADapt	Effectiveness in dupilumab experienced Effectiveness in dupilumab experienced
		ADmirable ADmirable	Effectiveness in skin of color Effectiveness in skin of color
		PREPARED-1 PREPARED-1	Efficacy and safety in adults with perennial allergic rhinitis Efficacy and safety in adults with perennial allergic rhinitis
	CSRwNP CSRwNP	CONTRAST-NP CONTRAST-NP	Efficacy & safety in adults with chronic rhinosinusitis and nasal polyps treated with intranasal corticosteroids and adolescents with chronic rhinosinusitis and nasal polyps treated with intranasal corticosteroids

Ilumetri® & Psoriasis

Psoriasis: Continuous growth of biologics driven by novel therapies and patient demographics

Ilumetri®: Strong & differentiated attributes for continued growth

The new 200mg dosage: a unique advantage offers dermatologists flexibility to adapt treatment pattern and continue treating patients with Ilumetri®.

Patient-centric approach: facilitates flexibility with an advanced treatment for moderate to severe psoriasis.

POSITIVE study* : at 52 weeks, Ilumetri® demonstrated that it is a treatment capable of restoring well-being to the level of the average population, key to alleviating the psychosocial burden of the disease.

Sustained high growth: Driven by Ilumetri® & Ebglyss®

R&D roadmap in the next 3 years

Pipeline focus: Delivering future value by disruptive innovation

4 programs in Phase I with 4 PoC studies planned to start in the next 15 months
Bispecific antibody in preclinical development
Multiple early discovery programs covering a broad range of skin diseases
Ranging across modalities from mRNA/LNP, SMOL, PROTACs, antibodies, bispecific antibodies and other advanced therapies
Innovation coming from in-house discovery and in-licensing opportunities

Addressing highly relevant disease targets with the most suitable modality to establish a highly innovative & diverse pipeline

mRNA: messenger RiboNucleic Acid, SMOL: Small Molecules, LNP: Lipid nanoparticles, PROTAC: PROteolysis TArgeting Chimeras.

Conclusion: Leading in dermatology in the next decade & beyond

For further information, please contact:

Pablo Divasson del Fraile Senior Director of Investor Relations Tel. +34 610 546 296 [email protected]

Or visit our website: almirall.com