Gentian Diagnostics ASA

Investor Presentation • Sep 16, 2025

Gentian Diagnostics ASA Company Presentation

Matti Heinonen, CEO

Pareto Securities Healthcare Conference, September 16th, 2025

Important notice

This presentation has been prepared by and is the sole responsibility of Gentian Diagnostics ASA (the "Company" or "Gentian"). The presentation is furnished to you solely for your information and may not be reproduced or redistributed, in whole or in part, to any other person. The information herein and any other material discussed is subject to change.

The presentation contains certain forward-looking statements relating to the business, future financial performance and results of the Company and/or the industry in which it operates. Forward-looking statements concern future circumstances and results and other statements that are not historical facts, sometimes identified by the words "believes", "expects", "predicts", "intends", "projects", "plans", "estimates", "aims", "foresees", "anticipates", "targets", and similar expressions. Any forward-looking statements contained herein, including assumptions, opinions and views of the Company or cited from third party sources are solely opinions and forecasts

which are subject to risks, uncertainties and other factors that may cause actual events to differ materially from any anticipated development. Potential investors are expressly advised that financial projections, such as the revenue and cash flow projections contained herein, cannot be used as reliable indicators of future revenues or cash flows. The Company (nor any of its parent or subsidiary undertakings) does not provide any assurance that the assumptions underlying such forward-looking statements are free from errors nor does any of them accept any responsibility for the future accuracy of the opinions expressed in this presentation or the actual occurrence of the forecasted developments. No obligation is assumed to update any forward-looking statements or to conform these forwardlooking statements to our actual results.

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Nothing contained in this presentation is or should be relied upon as a promise or representation as to the future. Except where otherwise expressly indicated, this presentation speaks as of the date set out on its cover. In addition, no responsibility or liability or duty of care is or will be accepted by the Company for updating this presentation (or any additional information), correcting any inaccuracies in it which may become apparent or providing any additional information.

Efficient diagnostics for better treatment decisions

Gentian Diagnostics in a nutshell

Gentian Diagnostics is listed on Euronext Oslo Børs

Med Tech company targeting a \$2.2B serviceable diagnostic segment with 5-10% annual growth

Appealing value proposition, lean business model & focused growth strategy

Industry-leading capabilities with strong focus on in-house R&D and operations

At commercial phase and making profit

Success rooted on high quality standards (IVDR and ISO13485 certified) and focus on ESG

Appealing value proposition leveraging existing, open-channel instrumentation

Appealing value proposition

Still, many clinically relevant diagnostic biomarkers are only available on slow and inefficient platforms.

By leveraging existing, so-called openchannel instrumentation, Gentian converts these test for high-throughput platforms.

1. Faster results -> better treatment decisions

2. Up to 10x improved efficiency and cost savings

Focused strategy targeting large, existing market with our world-leading knowledge and broad customer support

Gentian targets several unmet needs:

• 1. New and upcoming diagnostic biomarkers
• 1. Gaps in companies' current portfolio
• 1. Quality, supply or regulatory compliance issues with current 3rd party suppliers
• 1. Price pressure in selected markets

We differentiate from competition by serving our strategic partners with broad support:

• 1. World-class R&D
• 1. Kit or bulk production
• 1. Technical and clinical data generation
• 1. Regulatory and product support

Lean business model relying on long-term, global strategic partnerships

Top 5 companies = 45% of revenues

Top 20 = 87%

IVD = in-vitro diagnostics

Key disease areas: inflammation & infection, kidney disease, heart failure

26% p.a. sales growth during last six years

Examples of partnerships validating our go-to-market model

Global distribution agreement for GCAL®, first roll-out in Europe.

Long-standing global commercial partnership for Cystatin C. GCAL EU launch in 2025.

Partnership for fCAL®turbo initiated through Bühlmann Laboratories.

Reached profitable growth with significant EBITDA improvement and solid cash position

EBITDA development (MNOK)

Financial highlights

Solid cash position of NOK 80.2 million

Fully funded business plan

Equity ratio of 85.4%

Inaugural dividend of NOK 0.40/share paid in May

Gentian's next generation NT-proBNP – commercial launch targeted for 2026

The Gentian assay will be the first test of its kind available on high-throughput analyzers

About NT-proBNP

NT-proBNP is a cornerstone test in heart failure diagnostics. Estimated market value in 2025 is \$1.0 B with 2025-2033 CAGR of +7%. NT-proBNP testing is a highly competitive market. Central lab testing is dominating, but point-of-care is the fastest growing segment.

Unmet need

• Up to 80% of NT-proBNP molecules may have sugar structures attached to them (glycosylation).
• Current assays tend to underestimate NT-proBNP levels due to antibodies binding the glycosylated areas.

Gentian's solution

• Gentian is developing a glycosylation-independent NTproBNP assay.
• Our assay measures total NT-proBNP and aims to improve accuracy and consistency of heart failure diagnostics.

Gentian's three-step growth strategy

1-3 years

Now

Maximize current portfolio

• Cys C opportunity
• GCAL
• NT-proBNP launch

and launch new products

▪ Balanced pipeline of novel assays and codevelopment partnerships

Explore collaborations to adapt Gentian's products to turbidimetric point-of-care platforms

3-5 years

Explore the High-Sensitivity Technology (HST) to dramatically improve the sensitivity of clinical chemistry platforms

Thank you for your attention!