Oncopeptides

Quarterly Report • Nov 7, 2024

Strong start in Spain offset by soft German market development

JULY-SEPTEMBER

• Significant events Financial overview • Oncopeptides announces that the first patient has entered a German patients.
• new study evaluating the efficacy and safety of Pepaxti in • Oncopeptides announces that it has signed an exclusive license and supply agreement with SCBIO Inc., a Korean pharmaceutical company for the commercialization of Pepaxti in South Korea.

JULY-SEPTEMBER

• Net sales amounted to SEK 8.5 (2.8) million
• Operating profit amounted to SEK -61.3 (-37.3) million Profit after tax amounted to SEK -60.2 (-40.5)
• million
• Earnings per share, before and after dilution 0.29 (-0.45) SEK
• Cash and cash equivalents at the end of the

JULY-SEPTEMBER • German patients. • and supply agreement with SCBIO Inc., a Korean in South Korea. Selected Key	Oncopeptides announces that the first patient has entered a new study evaluating the efficacy and safety of Pepaxti Oncopeptides announces that it has signed an exclusive license pharmaceutical company for the commercialization of Pepaxti Indicators	in	JULY-SEPTEMBER   million  million  0.29 (-0.45) SEK 	Net sales amounted to SEK 8.5 (2.8) million Operating profit amounted to SEK -61.3 (-37.3) Profit after tax amounted to SEK -60.2 Earnings per share, before and after dilution - Cash and cash equivalents at the end of the period amounted to SEK 250.0	(233.6) million
	2024	2023	2024	2023	2023
(SEK thousand)	Jul-Sep	Jul-Sep	Jan-Sep	Jan-Sep	Jan-D ec
Net sales	8 507	2 805	21 734	29 883	35 220
Strong start in Spain offset by soft whereof reversal of returns reserve USA	-	229	-	24 274	24 330
Operating profit	-61 251	-37 297	-200 164	-172 467	-253 447
Profit after tax	-60 233	-40 543	-201 181	-167 900	-249 111
Earnings per share before and after dilution (SEK)	-0,29	-0,45	-1,33	-1,86	-2,76
German market development Cash flow from operating activities	-130 484	-57 793	-189 072	-224 098	-279 493

CEO-statement

Strong start in Spain offset by soft German market development

In the third quarter, a promising start in Spain was offset by slower-than-expected growth in Germany due to a soft market and a slow-down in Greece, resulting in a mixed third quarter for Oncopeptides. To ensure growth in the short term with prudent cost management, we are increasing our focus on the three largest markets Germany, Italy and Spain.

Sales in Q3 2024 were SEK 8.5 million, compared to SEK 2.8 million in Q3 2023. Excluding a SEK 1.1 million down payment from the South Korean license deal, European sales in Q3 were slightly lower than in Q2, which in turn showed a 60 percent increase over Q1, illustrating volatility in an early-stage launch.

Germany remains our most important European market and accelerating sales there is our highest priority. According to our market intelligence, the German market for newly introduced latestage multiple myeloma drugs has been generally slow during the third quarter. So far, during Q4 we have seen signs that the market in Germany is recovering. Pepaxti in the country. Since Pepaxti

The strong initial interest we saw in Spain in Q2 has started to transform into sales. The swift uptake follows the solid clinical experience from first became available in the country until today, about 80 percent of Spanish regions have already been activated, a strong start paving the way for continued sales growth during the end of 2024 and beyond.

We also remain on track to secure market access in Italy, the European market with the second largest potential for Oncopeptides.

Outside of Europe, during the third quarter, we signed an exclusive licensing and supply agreement with South Korean pharma company SCBIO to commercialize Pepaxti, driven by demand from South Korean KOLs. We have now received a first milestone payment, the first ever for Oncopeptides and a testament to our ambition to build sales outside of Europe. It also illustrates Pepaxti's ability to address a significant global unmet medical need in late-stage multiple myeloma.

We are fully committed to and focused on flawless execution on our European launch of Pepaxti, the core of our value creation. Following the slower than expected sales development in Q3, Oncopeptides continues to act by implementing an even stronger focus on our three largest markets and reducing our cost base elsewhere, without impairing our ability to market and sell Pepaxti in countries where we

see near-term revenue potential. We continue to see great value in our pipeline and have invested in key activities ensuring progress.

The management team and I believe that a strong momentum in Spain, positive progress in Italy and the positive clinical experience that is being built in Germany together with increased cost-consciousness will Sofia Heigis

CEO

REVENUE

Net sales during the quarter were SEK 8.5 (2.8) million and for nine months SEK 21.7 (29.9) million. The turnover refers to Europe for the most part, with the exception of SEK 1.1 million, which refers to a first ever milestone payment from SCBIO in South Korea. The turnover for the full year 2023 includes the effects of reversals regarding previous years' excessively high reserved income regarding returns in connection with the withdrawal of Pepaxto in the USA with SEK 24.3 million, of which SEK 0.2 million in the third quarter. Excluding reversal of return reserve, turnover amounted to SEK 10.9 million for the full year 2023.

GROSS PROFIT

The gross profit for the quarter amounted to SEK 7.8 (4.7) million and for nine months to SEK 19.9 (31.7) million. The 2023 gross result was positively affected by the reversal of return reserves described above. Cost of goods sold showed a positive value of SEK 1.1 million for the full year 2023. In connection with the withdrawal of Pepaxto in the USA in 2021, a complete write-down of the inventory value was made. In connection with Pepaxti receiving full approval in Europe, this writedown was partially reversed in 2023.

OPERATING EXPENSES

Operating expenses for the quarter, excluding cost of goods sold, amounted to SEK 69.1 (42.0) million and for nine months to SEK 220.0 (204.2) million.

RESEARCH AND DEVELOPMENT EXPENSES

Research and development costs amounted to SEK 21.9 (6.3) million for the quarter and for nine months to SEK 78.0 (73.9) million. No clinical studies are currently ongoing, where the phase three study Ocean was completed during the third quarter of 2023. During the

Financial Overview third quarter of 2023, refunds of SEK 43.0 million were also received regarding final settlements for completed studies, which positively affected costs.

MARKETING AND SALES EXPENSES

Marketing and sales costs amounted to SEK 29.8 (28.8) million for the quarter and for nine months to SEK 93.7 (84.9) million. The increased costs relate to ongoing commercialization activities in Europe.

GENERAL AND ADMINISTRATIVE EXPENSES

Administrative costs during the quarter amounted to SEK 18.4 (12.2) million and for nine months to SEK 52.7 (53.0) million.

EXPENSES FOR SHARE BASED INCENTIVE PROGRAMS

For the first nine months of the year, costs, including social security contributions, for share-related incentive programs amounted to SEK 6.6 (5.9) million. The cost does not affect cash flow in the period. See note 8.

TAX AND EARNINGS

Profit during the quarter amounted to SEK - 60.2 (-40.5) million and for nine months to SEK -201.2 (-167.9) million. This corresponds to earnings per share for the quarter of SEK - 0.29 (-0.45) and for nine months of SEK -1.33 (-1.86).

CASH FLOW, INVESTMENTS AND FINANCIAL POSITION

Cash flow from operating activities amounted to SEK -130.4 (-57.8) million for the quarter and SEK -189.1 (-224.1) million for nine months. The quarter's cash flow is negatively affected by SEK 105 million regarding an internal sale of patents whose VAT was settled in the subsidiary in June and in the parent company in July. A corresponding positive effect of SEK 105 million occurred in

the second quarter.

The completed rights issue in May had a positive impact on financing activities of SEK 271.8 million. In the fourth quarter of 2022, an addendum was made to the loan agreement with the European Investment Bank (EIB). The agreement gives Oncopeptides access to a loan facility of up to EUR 30 million without collateral. The loan agreement is divided into three tranches, each with a term of 5 years, which become available if the company meets certain conditions. If the company utilizes the entire loan facility, the EIB will be entitled to warrants corresponding to 2.8% of outstanding shares after dilution, in addition to interest on the loan amount. During the second quarter of 2023, Oncopeptides utilized Tranche A of this loan facility, which provided the company with EUR 10 million in cash and cash equivalents. Prior to the payment of this tranche, warrants corresponding to 1.26% of outstanding shares after dilution were transferred to the EIB free of charge. The loan amount has increased the company's flexibility and is used to finance the ongoing commercialization in Europe as well as the development of the research portfolio. See note 6. With regard to the completed rights issue, the O N C O P E P T I D E S | I N T E R I M R E P O R T J U L Y - S E P T E M B E R 2 0 2 4

Equity in the group amounted to SEK 135.7 (133.4) million at the end of the period.

RIGHTS ISSUE

outcome of this was announced on 6 May. The Rights Issue brought the Company approximately SEK 314 million before deductions for costs attributable to the Rights Issue. The rights issue comprised 120,586,169 new ordinary shares, of which 98,415,644 ordinary shares have been subscribed with the support of subscription rights, corresponding to approximately 82 percent of the offered ordinary shares. In addition,

notifications have been received to subscribe for 14,909,424 ordinary shares without the support of subscription rights, corresponding to approximately 12 percent of the offered ordinary shares. Thus, guarantee commitments for 7,261,101 ordinary shares, corresponding to approximately 6 percent of the offered ordinary shares, will be used. The subscription price was SEK 2.60 per new ordinary share. Through the Rights Issue, the share capital increased by SEK 13,398,463.77, from SEK 10,511,120.09 to SEK 23,909,583.86, through a new issue of 120,586,169 new ordinary shares, which means that the total number of shares increases from 94,600,077 shares to 215,186,246 shares. employees amounted to 79 (64).

EMPLOYEES

At the end of the quarter, the number of

PARENT COMPANY

The operations of the parent company correspond in all essential respects with the operations of the group, which is why the comments for the group also apply to the parent company. During the period, a restructuring of the group's patent portfolio related to Pepaxti has begun, where the patents are successively sold from the parent company to the wholly owned subsidiary Oncopeptides Innovation AB. This sale has resulted in an additional income of SEK 500 million for the parent company for ninemonth period. The valuation of the patents is carried out by an external party and the transaction has no impact on the group's financial position or results. All patents have been transferred to the subsidiary as of 30 June 2024.

ONCOPEPTIDES SHARE

At the end of the period, the number of registered shares eligible for trading and votes in Oncopeptides amounted to 211,263,903.

3

Signatures

The Board and the CEO confirm that the interim report provides a true and fair reflection of the Group's and the Parent Company's operations, position and earnings and describes the material risks and uncertainty factors faced by the Parent Company and the companies within the Group. Per Wold-Olsen Sofia Heigis Chairman CEO

Stockholm, November 7, 2024

Jennifer Jackson Board member

Cecilia Daun-Wennborg Board member

Per Samuelsson Board member

Jarl Ulf Jungnelius Board member

Brian Stuglik Board member

O N C O P E P T I D E S | I N T E R I M R E P O R T J U L Y - S E P T E M B E R 2 0 2 4 4

Review report

This is a translation from the Swedish original

Oncopeptides AB (publ) corp. reg. no. 556596-6438.

INTRODUCTION

We have reviewed the condensed interim report for Oncopeptides AB as at September 30, 2023 and for the nine months period then ended. The Board of Directors and the Managing Director are responsible for the preparation and presentation of this interim report in accordance with IAS 34 and the Swedish Annual Accounts Act. Our responsibility is to express a conclusion on this interim report based on our review.

SCOPE OF VIEW

We conducted our review in accordance with the International Standard on Review Engagements, ISRE 2410 Review of Interim Financial Statements Performed by the Independent Auditor of the Entity. A review consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and other generally accepted auditing standards in Sweden. The procedures performed in a review do not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

CONCLUSION

Based on our review, nothing has come to our attention that causes us to believe that the interim report is not prepared, in all material respects, in accordance with IAS 34 and the Swedish Annual Accounts Act regarding the Group, and in accordance with the Swedish Annual Accounts Act regarding the Parent Company. Öhrlings PricewaterhouseCoopers AB

Stockholm, November 7, 2024

Lars Kylberg and Sara Wallinder Authorized Public Accountants

Condensed consolidated statement of comprehensive income

Condensed consolidated statement of financial position

Condensed consolidated statement of comprehensive income
						Condensed consolidated statement of financial position
(SEK thousand) Not	2024 Jul-Sep	2023 Jul-Sep	2024 Jan-Sep	2023 Jan-Sep	2023 Jan-D ec
Net sales 5	8 507	2 805	21 734	29 883	35 220
Cost of Goods Sold	-701	1 896	-1 936	1 860	1 079
Gro ss pro fit	7 805	4 701	19 798	31 743	36 299
Research and development expenses
M arketing and distribution expenses	-21 932 -29 828	-6 274 -28 806	-78 037 -93 730	-73 877 -84 851	-106 948 -119 601
Administrative expenses	-18 368	-12 181	-52 740	-52 997	-68 878
Other operating income/expenses	1 072	5 263	4 545	7 515	5 681
T o tal o perating expense	-69 057	-41 998	-219 962	-204 210	-289 746
EB IT ; Operating pro fit/ lo ss	-61 251	-37 297	-200 164	-172 467	-253 447
Net financial items	652	-3 134	-1 409	3 148	5 000
EB T ; Earnings befo re taxes	-60 600	-40 431	-201 573	-169 319	-248 447
Income tax N et pro fit	366	-112	391	1 419	-664
	-60 233	-40 543	-201 181	-167 900	-249 111	Lo ng term liabilities
Other co mprehensive inco me
Items to be reclassified as profit or loss
Translation variances	-8	-54	-177	-199	98
Other co mprehensive inco me after tax	-8	-54	-177	-199	98
T o tal co mprehensive inco me attributable to
P arent C o mpany' s shareho lders.	-60 241	-40 597	-201 359	-168 099	-249 013
Earnings per share before/after dilution (SEK)	-0,29	-0,45	-1,33	-1,86	-2,76

					Condensed consolidated statement of financial position
2024	2023	2024	2023	2023
					TSEK	Note	2024-09-30	2023-09-30	2023-12-31
					A ssets
					Tangible assets		29 065	15 290	34 626
					Financial assets		800	850	852
					T o tal no n-current assets		29 865	16 140	35 478
					C urrent assets
					Inventory		4 511	1 924	2 425
					Current receivables		34 821	43 318	27 068
					Other liquid funds		-	72 454	-
					Cash		250 013	161 141	173 407
					T o tal current assets		289 345	278 837	202 900
					T o tal assets		319 209	294 977	238 378
					Equity and liabilities
					Equity		135 655	133 396	56 780
					T o tal equity		135 655	133 396	56 780
					Lo ng term liabilities
					Loans from credit institutions	6	117 160	107 979	106 487
					Other long term liabilities		20 119	11 844	30 178
					T o tal lo ng-term liabilities		137 279	119 823	136 665
					C urrent liabilities
					Trade payables		12 104	12 559	15 025
					Other curren liabilities		34 171	29 199	29 908
					T o tal current liabilities		46 275	41 758	44 933
					T o tal equity and liabilities		319 209	294 977	238 378

6

Condensed consolidated statement of changes in equity Condensed consolidated statement of cash flow

Condensed consolidated statement of changes in equity						Condensed consolidated statement of cash flow
	2024	2023	2024	2023	2023
SEK Thousand	Jul-Sep	Jul-Sep	Jan-Sep	Jan-Sep	Jan-D ec
Opening balance	192 963	177 125	56 780	294 293	294 293	Operating activities
Net profit	-60 233	-40 543	-201 181	-167 900	-249 111
					98
	-8	-54	-177	-199
o tal co mprehensive inco me	-60 241	-40 597	-201 359	-168 099	-249 013
n with o wners
	0	24	313 483	24	24
	0	0	0	0	-24
ransactio	0	0	-41 639	0	0
	2 933	-3 164	8 391	7 170	11 500
o tal transactio ns with o wners	0	8	0	8	0
	2 933	-3 132	280 234	7 202	11 500
Other comprehensive income T T New issue of shares Repurchase of shares Cost related to share issue Share based compensation Exercised warrannts T Ending balance	135 656	133 396	135 655	133 396	56 780

Condensed consolidated statement of changes in equity						Condensed consolidated statement of cash flow
	2024	2023	2024	2023	2023		2024	2023	2024	2023	2023
SEK Thousand	Jul-Sep	Jul-Sep	Jan-Sep	Jan-Sep	Jan-D ec	SEK Thousand	Jul-Sep	Jul-Sep	Jan-Sep	Jan-Sep	Jan-D ec
Opening balance	192 963	177 125	56 780	294 293	294 293	Operating activities
						Operating profit/loss	-61 251	-37 297	-200 164	-172 467	-253 447
Net profit	-60 233	-40 543	-201 181	-167 900	-249 111	Adjustment for non-cash items	-3 100	-3 320	6 403	8 397	18 919
Other comprehensive income	-8	-54	-177	-199	98	Interest received	16	1 844	22	2 289	8 580
T o tal co mprehensive inco me	-60 241	-40 597	-201 359	-168 099	-249 013	Interest paid	4	-3 368	0	-3 610	-570
T ransactio n with o wners						Taxes paid C ash-flo w fro m o perating activities befo re	394	-132	251	683	1 654
New issue of shares	0	24	313 483	24	24	change in wo rking capital	-63 937	-42 273	-193 488	-164 708	-224 864
Repurchase of shares	0	0	0	0	-24	Change in working capital	-66 547	-15 520	4 416	-59 390	-54 629
Cost related to share issue	0	0	-41 639	0	0
Share based compensation	2 933	-3 164	8 391	7 170	11 500	C ash-flo w fro m o perating activities	-130 484	-57 793	-189 072	-224 098	-279 493
Exercised warrannts	0	8	0	8	0
T o tal transactio ns with o wners	2 933	-3 132	280 234	7 202	11 500	Cash-flow from investment activities	-	-115	0	-115	-116
Ending balance	135 656	133 396	135 655	133 396	56 780	Cash-flow from financing activities	-1 956	-2 324	265 874	112 472	108 613
						C ash-flo w fo r the perio d	-132 440	-60 232	76 802	-111 741	-170 996
						Cash at the beginning of the period	383 277	293 767	173 407	344 515	344 515
						Change in cash	-132 440	-60 233	76 803	-111 742	-170 996
						Effect of exchange rate changes on cash	-823	61	-197	822	-111
						C ash at the end o f the perio d	250 013	233 595	250 013	233 595	173 407

Condensed Parent Company income statement Condensed Parent
Company balance
sheet

Condensed Parent Company statement of comprehensive income

	2024	2023	2024	2023	2023
SEK thousand	Jul-Sep	Jul-Sep	Jan-Sep	Jan-Sep	Jan-Dec
EBT; Earnings before taxes	-84 004	-42 982	277 973	-173 033	-253 940
Other comprehensive income
Net profits	-84 004	-42 982 -	277 973	-173 033	-253 940

Condensed Parent Company income
	statement					Condensed Parent	Company balance sheet
	2024	2023	2024	2023	2023
(SEK thousand)	Note Jul-Sep	Jul-Sep	Jan-Sep	Jan-Sep	Jan-D ec	SEK thousand	Note 2024-09-30	2023-09-30	2023-12-31
Net sales 5	8 507	2 575	21 734	5 608	10 890	A ssets Tangible assets	6 327	8 787	8 172
Cost of Goods Sold	-701	1 896	-1 936	1 860	1 079	Financial assets	501 245	1 179	1 297
Gro ss pro fit	7 805	4 471	19 798	7 468	11 969	T o tal no n-current assets	507 572	9 966	9 469
Research and development expenses	-23 732	-6 314	-80 528	-73 985	-107 111
M arketing and distribution expenses	-33 925	-29 972	-95 896	-63 796	-100 289	C urrent assets
Administrative expenses	-18 411	-12 217	-52 868	-53 075	-68 984	Inventory	4 511	1 924	2 424
Other operating income/expenses T o tal o perating expense	4 380	5 578	514 622	12 942	12 227	Current receivables Other liquid funds	138 554 -	67 772 72 454	51 131 -
EB IT ; Operating pro fit/ lo ss	-71 688 -63 883	-42 925 -38 454	285 330 305 128	-177 914 -170 446	-264 157 -252 188	Cash	175 461	146 657	158 756
Net financial items	-212	-3 188	-216	3 285	5 224	T o tal current assets	318 526	288 807	212 311
Earnings after net financial items	-64 095	-41 642	304 913	-167 161	-246 964	T o tal assets	826 098	298 773	221 780
Group contribution	-19 909	-1 340	-26 940	-5 872	-6 976	Equity and liabilities
EB T ; Earnings befo re taxes	-84 004	-42 982	277 973	-173 033	-253 940	Restricted equity	34 118	20 720	20 720
Tax	0	0	0	0	0	Non-restricted capital	601 047	116 059	39 449
N et pro fit	-84 004	-42 982	277 973	-173 033	-253 940	T o tal Equity	635 165	136 779	60 169
Condensed Parent Company statement of comprehensive income						Lo ng term liabilities Loans from credit institutions	6 117 160	107 979	106 487
						Long-term liabilities	5 828	11 844	10 509
						T o tal lo ng-term liabilities	122 988	119 823	116 996
	2024	2023	2024	2023	2023
SEK thousand	Jul-Sep	Jul-Sep	Jan-Sep	Jan-Sep	Jan-D ec	C urrent liabilities
EBT; Earnings before taxes	-84 004	-42 982	277 973	-173 033	-253 940	Trade payables	10 641	11 272	12 912
Other comprehensive income N et pro fits	- -84 004	- -42 982	- 277 973	- -173 033	- -253 940	Other current liabilities T o tal current liabilities	57 303 67 944	30 899 42 171	31 703 44 615

Notes to the consolidated and Parent Company financial statements

NOTE 1 - GENERAL INFORMATION

NOTE 2 - ACCOUNTING PRINCIPLES

NOTE 3 - RISKS AND UNCERTAINTIES

NOTE 4 - ESTIMATES AND CONSIDERATIONS

NOTE 5 - REVENUE RECOGNITION

Notes to the consolidated and Parent Company financial statements
NOTE 1 - GENERAL INFORMATION This interim report covers the Swedish parent company Oncopeptides AB (publ), registration number 556596-6438, as well as the wholly owned subsidiaries Oncopeptides Incentive AB, Oncopeptides Innovation AB (with the wholly owned subsidiary Oncopeptides Innovation 1 AB), Oncopeptides GmbH and Oncopeptides Inc, USA. The parent company is	NOTE 5 - There has been no change in the principle of revenue recognition compared to the annual report 2023. Revenue is recognized at the transaction price for goods sold excluding value added tax, discounts and returns. Revenue is recognized at the time of delivery when Oncopeptides has fulfilled its performance commitment and control of the goods	REVENUE RECOGNITION
a public limited company based in Stockholm. The figures in brackets in the report refer to the corresponding period of the previous year. The interim report has been approved for publication on 7 November 2024.	passes to the customer. The customers are defined as hospitals and/or clinics and retailers who sell the goods to the final user of the goods. As the final price is related to the discount that applies in the respective local market the parent company and the group report a liability for a calculated discount based on the frameworks for discounts that apply in
NOTE 2 - ACCOUNTING PRINCIPLES The group's interim report is prepared in accordance with IAS 34. The parent company applies the Swedish Financial Reporting Council's recommendation RFR 2. Oncopeptides applies, other than what appears below, the same accounting principles as in the most recent annual	each market. The provision for estimated discounts is reported under the heading Other short-term liabilities in the balance sheet. The reserve for drug returns related to the withdrawal of Pepaxto					from
report. Significant accounting and valuation principles can be found on pages 45-50 of the annual report for 2023.During the second quarter of 2023, a credit from the EIB of EUR 10 million was taken out. As part of the transaction cost in addition to interest, 1,138,646 subscription rights were transferred to the EIB. The liability includes the subscription rights, which are valued on an ongoing basis at fair value in accordance with IFRS 9. The subscription rights have been valued in accordance with the market approach in IFRS 13. Transferred subscription rights are reported	the US market in 2021 is fully dissolved at the end of 2023, when the time to be able to return products according to agreement was passed in July 2023. It is assessed that there are no significant risks for returns related to the sale of goods in Europe during the period. Group revenue SEK thousand	2024 Jul-Sep	2023 Jul-Sep	2024 Jan-Sep	2023 Jan-Sep	2023 Jan-D ec	NOTE 6 – LOANS FROM CREDIT INSTITUTIONS The liability relate to a loan from EIB. It will not be amortized until the 16th of June 2028, when it will be fully repaid. The interest is accumulated and capitalized during the term and paid in connection to
as Other long-term debt in the balance sheet in accordance with IAS 1. Otherwise, no new or changed standards have been introduced since 1 January 2024 that have had any significant impact on the company's financial reporting.	N et sales Goods M ilestone South Korea Reversal of return reserve	7 376 1 131	2 576 -	20 603 1 131	5 609 -	10 890 -	the repayment of the loan. The contractual interest rate is 7% for the full term. The effective interest rate is estimated to 10.8%, including arrangement costs and the initial market value of the transferred warrants allocated during the term of the loan. In connection to the signing of the agreement, an emission of 2 829 231
Oncopeptides applies ESMA's (European Securities and Markets Authority) guidelines for alternative key figures.	T o tal net revenue Geo graphical market	- 8 507	229 2 805	- 21 734	24 274 29 883	24 330 35 220	warrants was performed, whereof 1 138 646 warrants representing 1.26% of outstanding shares after dilution has been transferred to EIB without compensation. The remaining warrants are held by the company and may be transferred to EIB in connection to a possible utilization of the
NOTE 3 - RISKS AND UNCERTAINTIES In its operations, Oncopeptides is exposed to a number of risks. The company continuously evaluates known and predictable risks and acts to minimize the effect of these risks within the framework of the	USA Europe Asia	- 7 376 1 131	229 2 576 -	- 20 603 1 131	24 274 5 609 -	24 330 10 890 0	remaining tranches related to the loan agreement. EIB has the right to exercise the warrants and subscribe for shares at the quota value. The warrants may be exercised at any time for a period of 20 years, in full or in part, by the warrant holder.
company's business strategy and safeguarding the company's long-term interests, including its sustainability. The company assesses that the risks described in the annual report for 2023 remain during the period.	T o tal net revenue	8 507	2 805	21 734	29 883	35 220	EIB has the right, under certain circumstances and in connection to the repayment of the loan, to demand that Oncopeptides acquire the warrants at fair value in a situation when it is not possible to transfer the warrants to a third party.
NOTE 4 - ESTIMATES AND CONSIDERATIONS This report contains forward-looking statements. Actual results may differ from those stated. Internal factors such as successful management of research programs and intellectual property rights may affect future results. The interim report has been prepared with the assumption that the company has the ability to continue operations during the next 12-month period, in line with the going concern principle.							NOTE 7 - RELATED PARTY TRANSACTIONS Remuneration to senior management has been paid in accordance with current policies. No other transactions with related parties, outside of the Oncopeptides Group, occurred during the period.
N C O P E P T I D E S I N T E R I M R E P O R T J U L Y - S E P T E M B E R 2 0 2 4										9

Parent company revenue	2024		2023		2024	2023
SEK thousand	Jul-Sep	Jul-Sep		Jan-Sep		Jan-Sep	2023 Jan-D ec
Goods	7 376		2 575		20 603	5 609	10 890
M ilestone South Korea	1 131		-		1 131	-	-
T o tal net revenue	8 507	2 575		21 734		5 609	10 890
Geo graphical market
Europe	7 376		2 575		20 603	5 609	10 890
Asia Summa	1 131 8 507	2 575	-	21 734	1 131	- 5 609	- 10 890

NOTE 6 – LOANS FROM CREDIT INSTITUTIONS

NOTE 7 - RELATED PARTY TRANSACTIONS

Notes

NOTE 8 - SHARE BASED INCENTIVE PROGRAMS

The purpose of share-based incentive programs is to promote the company's long-term interests by motivating and rewarding the company's senior management, founders, and other co-workers in line with the interest of the shareholders. Oncopeptides has currently ten programs that include the management team, certain Board members, founders and employees. • 2017; "Co-worker LTIP 2017" • 2018; "Co-worker LTIP 2018" • 2019; "Co-worker LTIP 2019" • 2021; "Co-worker LTIP 2021" and "Board LTIP 2021" • 2022; "Co-worker LTIP 2022" and "Board SHP 2022" • 2023; " Co-worker LTIP 2023" • 2024; " Co-worker LTIP 2024" and "Board SHP 2024

Program

-

-

-

"Board SHP 2024" is a one-year incentive program that was adopted at the annual general meeting on May 31, 2024 and is based on share rights for the company's board members. The vesting period runs from the time the member is elected up to and including the earliest of the day before the 2025 annual general meeting or July 1, 2025. The share rights must be exercised no later than 90 days after the member leaves the board or no later than six years after the award. "Co-worker LTIP 2024" and is based on share rights for the company's employees. The share rights are earned after three years during the period from the date of allotment up to and including the third anniversary. In addition to this just-mentioned temporal condition, the Share Rights are subject to performance-based earnings based on the development of Oncopeptide's share price. For more information, see notice and

minutes from the general meeting on 31 May 2024. For more information on the programs see Note 27 in the Annual report 2023 as well as Agendas and Minutes from the relevant Annual General Meetings on the company's website www.oncopeptides.com.

At the end of the period, full utilization (including warrants for securing social security contributions but excluding warrants related to EIB), of

• Options and share awards resolved by the AGM and awarded to named individuals corresponding to 10,109,772 shares, would result in a dilution of 4.6 percent.
• Options and share awards resolved by the AGM and awarded to named individuals as well as those not yet awarded to individuals, corresponding to 17,704,225 shares, would result in a dilution of 7.7 percent.

NOTE 9 - SIGNIFICANT EVENTS AFTER THE PERIOD

No significant events occurred after the end of the period other than as mentioned in the report.

O N C O P E P T I D E S | I N T E R I M R E P O R T J U L Y - S E P T E M B E R 2 0 2 4 10

Key performance measures

Key performance measures							Telephone conference		Financial Calendar
In this report, certain key		evaluating the company's			Further, such performance		The Interim report for the period and an
performance measures are presented, including measures		economic trends. These financial performance measures should			measures, as the company has defined them, should not be		operational update will be presented by CEO Sofia Heigis and members of
that are not defined under IFRS,		not be viewed in isolation, nor be			compared with other performance		Oncopeptides Leadership team,
• Research and development / operating expenses, %,		considered in replacement of performance indicators that are			measures with similar names used by other companies since		Wednesday November 7, 2024, at 10:00
• Gross margin, TSEK, %.		prepared in accordance with			definitions and calculation		(CET).
The company believes that these	IFRS.				methods may vary between		If you wish to participate via webcast,
measurements provides valuable additional information when				companies.			please use the link below. Through the webcast you can ask written questions.
		2024	2023	2024	2023	2023	https://ir.financialhearings.com/oncope ptides-q3-report-2024
SEK, Thousand		Jul-Sep	Jul-Sep	Jan-Sep	Jan-Sep	Jan-D ec		Contact
Net sales							If you wish to participate via telephone	Oncopeptides AB
Gross profit1)		8 507	2 805	21 734	29 883	35 220	conference, please register on the link	Kontakt
Gross margin2)		7 805	4 701	19 798	31 743	36 299	below. After registration you will be provided a phone numbers and a
Registered common shares outstanding		92%	168%	91%	106%	103%	conference ID to access the conference.
beginning of period							You can ask questions verbally via the	Telephone:
end of period		211 263 903	90 368 660	90 439 627	90 368 660	90 368 660	telephone conference.	+46 8 615 20 40
C-shares for LTI programs3)		211 263 903	90 439 627	211 263 903	90 439 627	90 439 627	https://conference.financialhearings.co m/teleconference/?id=50048827
Registered shares; end of period including C-shares		3 922 343	4 160 450	3 922 343	4 160 450	4 160 450
Share capital at the end of period		215 186 246	94 600 077	215 186 246	94 600 077	94 600 077
Equity at the end of period		23 910	10 511	23 910	10 511	10 511
Earnings per share before/after dilution, kr4)		135 655	133 396	135 655	133 396	56 780		Thesaurus
Operating loss		-0,29	-0,45	-1,33	-1,86	-2,76
Research and development expenses		-61 251	-37 297	-200 164	-172 467	-253 447
R&D costs/operating expenses, %5)		-21 932 32%	-6 274 15%	-78 037 35%	-73 877 36%	-106 948 37%		CHMP
1) Defined by subtracting cost of goods sold from total sales. The key figure shows gross profitability of cost of goods sold in 2) Defined by dividing the sum of the company's gross profit by total sales. The key figure aims to clarify the relative profitability of goods sold. 3) For more information, please see the notice to the Annual General Meeting 2022. 4) Earnings per share before dilution are calculated by dividing earnings attributable to shareholders of the Parent Company by a weighted average number of outstanding shares during the period. There is no dilution effect driven by the employee stock option program, as earnings for the periods have been negative. 5) Defined by dividing the research and development costs with total operating expenses. The key performance measure provides an expenses that are attributable to the company's core business.				absolute numbers.	indication of the proportion of				humanläkemedel
O N C O P E P T I D E S I N T E R I M R E P O	R T J U L	Y - S E P T E M B	E R 2 0 2 4						above, at 08:00 CET on November 7, 2024.

Telephone conference

Financial Calendar

Rapport	Datum
Year-end report 2024	27 February 2025
Annual report 2024	28 April 2025
Interim report Q1 2025	8 May 2025
Interim report Q2 2025	21 August 2025
Interim report Q3 2025	5 November 2025
Contact
Oncopeptides AB Kontakt Visiting address; Luntmakargatan 46, 111 37 Stockholm Domicile: Luntmakargatan 46, 111 37 Stockholm, Sweden
Telephone:

Contact

Oncopeptides AB

Thesaurus

Telephone: +46 8 615 20 40	E-mail: info@oncopeptides.com
	Website: oncopeptides.com
Thesaurus
EMA	European Medicines Agency Europeiska läkemedelsmyndigheten
CHMP	The European Medicines Agency's Committee for Medicinal Products for Human Use Europeiska läkemedelsmyndighetens kommitté för humanläkemedel

This information is information that Oncopeptides is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 08:00 CET on November 7, 2024.