Genmab — Director's Dealing 2025

Dec 29, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Merus N.V. (MRUS)
CIK: 0001651311
Period of Report: 2025-12-22

Reporting Person: GENMAB A/S (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-12-22	Common Shares, nominal value EUR 0.09 per share	P	15710	$97.00	Acquired	72028775	Indirect
2025-12-23	Common Shares, nominal value EUR 0.09 per share	P	561042	$97.00	Acquired	72589817	Indirect
2025-12-24	Common Shares, nominal value EUR 0.09 per share	P	96082	$97.00	Acquired	72685899	Indirect
2025-12-26	Common Shares, nominal value EUR 0.09 per share	P	142610	$97.00	Acquired	72828509	Indirect

Footnotes

F1: On September 29, 2025, Genmab A/S ("Parent"), Genmab Holding II B.V., a wholly owned subsidiary of Parent ("Purchaser"), and the Issuer entered into a transaction agreement (the "Transaction Agreement"). Pursuant to the terms of the Transaction Agreement, Purchaser commenced a tender offer for all the issued and outstanding common shares, nominal value EUR 0.09 per share (the "Common Shares") of the Issuer (the "Offer"), and, on December 12, 2025, following the expiration of the initial offering period of the Offer (the "Expiration Time"), Purchaser accepted 71,463,077 Common Shares that were validly tendered and not properly withdrawn pursuant to the Offer as of the Expiration Time, representing approximately 94.2% of the Issuer's outstanding Common Shares, in exchange for a cash payment equal to $97.00 per Common Share, without interest and less applicable withholding taxes.

F2: On December 12, 2025, Purchaser commenced a subsequent offering period during which Purchaser acquired an additional 549,988 Common Shares through December 21, 2025 (as previously reported), as well as an additional 15,710 Common Shares on December 22, 2025, an additional 561,042 Common Shares on December 23, 2025, an additional 96,082 Common Shares on December 24, 2025, and an additional 142,610 Common Shares on December 26, 2025. Parent, as the parent entity of Purchaser, beneficially owns the Common Shares held directly by Purchaser.