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Irp210204-A.Pdf This presentation contains certain forward-looking statements. These forward-looking statements may be identified by words such as ‘believes’, ‘expects’, ‘anticipates’, ‘projects’, ‘intends’, ‘should’, ‘seeks’, ‘estimates’, ‘future’ or similar expressions or by discussion of, among other things, strategy, goals, plans or intentions. Various factors may cause actual results to differ materially in the future from those reflected in forward-looking statements contained in this presentation, among others: 1 pricing and product initiatives of competitors; 2 legislative and regulatory developments and economic conditions; 3 delay or inability in obtaining regulatory approvals or bringing products to market; 4 fluctuations in currency exchange rates and general financial market conditions; 5 uncertainties in the discovery, development or marketing of new products or new uses of existing products, including without limitation negative results of clinical trials or research projects, unexpected side-effects of pipeline or marketed products; 6 increased government pricing pressures; 7 interruptions in production; 8 loss of or inability to obtain adequate protection for intellectual property rights; 9 litigation; 10 loss of key executives or other employees; and 11 adverse publicity and news coverage. Any statements regarding earnings per share growth is not a profit forecast and should not be interpreted to mean that Roche’s earnings or earnings per share for this year or any subsequent period will necessarily match or exceed the historical published earnings or earnings per share of Roche. For marketed products discussed in this presentation, please see full prescribing information on our website www.roche.com All mentioned trademarks are legally protected. Roche 2020 results Basel, 4 February 2021 Group Severin Schwan Chief Executive Officer 2020 performance Outlook 5 2020: Targets fully achieved despite COVID-19 pandemic Targets for 2020 FY 2020 Group sales growth1 Low- to mid-single digit +1% Core EPS growth1 Broadly in line with sales growth +4% Dividend outlook Further increase dividend in Swiss francs2 CHF 9.10 1 At constant exchange rates (CER); 2 2020 dividend as proposed by the Board of Directors 6 2020: Successfully managing the transition in volatile environment Compensated for biosimilar & COVID-19 Efficiency gains & investment into future Group Group Sales Core OP CHFm (CER) + 4,739 CHFm (CER) 2 + 981 - 5,051 + 1,812 + 1,800 - 40 -868 - 803 - 5,919 23,460 23,460 61,396 62,015 22,478 - 968 +1% +4% 2019 Pharma Pharma Diagnostics 2020 2019 Pharma Pharma Pharma Diagnostics Corporate 2020 New bx exposed2 Division lower profit efficiency additional growth & Products1 & other contribution gains & R&D spend efficiency from lower other gains sales3 At constant exchange rates (CER); 1 Erivedge, Perjeta, Kadcyla, Gazyva, Esbriet, Cotellic, Alecensa, Tecentriq, Ocrevus, Hemlibra, Xofluza, Polivy, Rozlytrek, Phesgo, Enspryng, Evrysdi; 2 MabThera, 7 Herceptin & Avastin in Europe (Avastin: as of Jul 20) and MabThera, Herceptin & Avastin in U.S. and Japan; 3 Pharma sales decline minus proportional cost of sales 2020 Responding quickly and broadly to the pandemic Collaboration with Atea on AT-527 development of AT-527 Collaboration with Regeneron on FDA EUA granted in mild- casirivimab/imdevimab casirivimab/imdevimab global supply moderate adults and adolescents Pharma COVACTA trial REMDACTA trial COVACTA EMPACTA REMAP-CAP initiated initiated trial results trial results trial results Jan 20 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan 21 Feb LightCycler® TIB MOLBIOL LightMix® 480 modular SARS-CoV-2 launched cobas® cobas ® SARS-CoV-2 cobas® SARS-CoV-2 test & Flu 6800/8800 test receives FDA EUA A/B Test receives FDA EUA cobas® Elecsys® Anti-SARS-CoV-2 Elecsys® IL-6 test Elecsys® Anti-SARS-CoV-2 S Lab SARS-COV-2 e411/601/602/801 antibody test receives FDA EUA receives FDA EUA antibody test launched antigen test launched Diagnostics Non- SARS-CoV-2 Rapid SARS-CoV-2 Rapid SARS-CoV-2 Rapid Antigen instrumented Antibody Test launched Antigen Test launched Test Nasal launched Overview - not all COVID-19 related developments captured; EUA=emergency use authorization 8 Potential use cases for COVID-19 portfolio Pre-exposure/asymptomatic Symptomatic Post-vaccination (screening and prophylaxis) (diagnosis and treatment) (to confirm protection) PCR Use cases will continue to persist with vaccine rollout Antigen test Diagnostics IL-6 test • People not yet vaccinated • Vaccine ineffective/wore off Antibody test • Antibody testing Oral antiviral (DAA) • Population surveillance • Screening Neutralizing antibodies Pharma • Flu/COVID-19 diagnosis Immunomodulators Low risk High risk Mild Hospitalized PCR=polymerase chain reaction test 9 2020: Sales growth due to Diagnostics Division 2020 2019 Change in % CHFbn CHFbn CHF CER Pharmaceuticals Division 44.5 48.5 -8 -2 Diagnostics Division 13.8 12.9 6 14 Roche Group 58.3 61.5 -5 1 CER=Constant Exchange Rates 10 2020: Group sales growth impacted by COVID-19 16% 14% 13% 12% 10% 9% 9% 8% 8% 7% 7% 7%7% 6% 7% 6% 6%6% 6% 6% 6% 6% 6% 8% 6% 5% 6% 4% 5% 5% 4% 5% 4% 4% 4% 4% 4% 1% 2% 3% 3% 1% 2% 0% -2% -4% -4% -6% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 12 12 12 12 13 13 13 13 14 14 14 14 15 15 15 15 16 16 16 16 17 17 17 17 18 18 18 18 19 19 19 19 20 20 20 20 At constant exchange rates (CER) 11 2020: Pandemic heavily impacting business dynamics % CER 1st wave 2nd wave +60% +50% Pharmaceuticals +50% • Severe impact from biosimilars and COVID-19 +40% +32% • Q4 carry over effect (Ocrevus administration) +30% +25% +28% +18% +20% +24% Diagnostics +10% +7% +2% +5% • Routine diagnostics impacted by COVID-19, gradual +0% -6% -7% recovery since June 2020 -4% -10% • COVID-19 testing overcompensating negative impact Q1'20 vs. Q2'20 vs. Q3'20 vs. Q4'20 vs. on routine testing since June 2020 Q1'19 Q2'19 Q3'19 Q4'19 Diagnostics Pharma Pharma New Products Growth rates at CER (Constant Exchange Rates) 12 Pharma: New products with strong momentum Accelerated portfolio rejuvenation in Q4 2020 Pharma sales mix CHFm % of Pharma Sales 2019 21,000 41% 18,000 40% 31% 31% 15,000 29% 12,000 22% 9,000 2020 15% 6,000 29% 41% 3,000 0 30% FY 2017 FY 2018 FY 2019 FY 2020 Erivedge Perjeta Kadcyla Gazyva New products launched since 2012 Esbriet Cotellic Alecensa Tecentriq Other products Herceptin + Rituxan + Avastin Ocrevus Hemlibra Xofluza Polivy Rozlytrek Phesgo Enspryng Evrysdi All absolute values are presented in CHFm reported 13 2020: Growth of profitability and Core EPS Core operating profit Core EPS Operating free cash flow 34.0% 36.6% 36.9% 33.0% % of sales 36.1% +1.2%p1 25.4% -7.5%p1 1 +4%+4% at CER -21%1 CHFbn CHF +4%+4% at 1CER CHFbn -21% at CER 21.5 19.16 22.5 20.9 20.5 20.16 18.14 18.7 14.8 2018 2019 2020 2018 2019 2020 2018 2019 2020 1 at CER=Constant Exchange Rates 14 2020 performance Outlook 15 Continuing to invest in innovation Assets in Ph III & registration at all time high Diagnostics major systems launches ahead 221 cobas® 58002 cobas® pure2 19 2 2 6 14 13 5 2 2 3 10 2 5 2 3 5 4 cobas® pro (high throughput) 1 1 1 1 1 1 8 8 5 4 4 NMEs FY 2017 FY 2018 FY 2019 FY 2020 Outlook FY 2021 NME=new molecular entity; 1 Ph III in SRP-9001 DMD, Ph III in AT-527 COVID-19, Ph III in rh-PTX-2 in IPF; 2 currently in development and not commercially available 16 Strong short- and mid-term news flow Diversifying the late stage pipeline and setting new standards of care Product Indication Filing/Data Product Indication Filing/Data tominersen Huntington’s 2022 Adj SCCHN 2021 gantenerumab Alzheimer’s 2022 (Neo)Adj NSCLC 2021/22 Tecentriq SRP-9001 DMD latest 2023 Adj RCC 2022 etrolizumab Crohn’s 2022 Adj HCC 2022 nAMD 2020/21 ipatasertib 1L mCRPC 2022 PDS DME 2022 Polivy 1L DLBCL 2021 DME faricimab 2021 tiragolumab + T 1L SCLC 2022 nAMD mosunetuzumab R/R FL 2021 Actemra +/- COVID-19 related 2021 remdesivir pneumonia glofitamab R/R DLBCL 2022 casirivimab/ SARS-CoV-2 2021 Venclexta R/R MM t(11;14) 2022 imdevimab AT-527 SARS-CoV-2 2021/22 giredestrant 2L/3L mBC 2022 crovalimab PNH 2022 inavolisib 1L HR+ BC 2022/23 Positive top-line announced Neuroscience Immunology Ophthalmology Infectious diseases Oncology/Hematology Source: DMD=duchenne muscular dystrophy; nAMD=neovascular age-related macular degeneration; DME=diabetic macular edema; PNH=paroxysmal nocturnal hemoglobinuria; SCCHN=squamous cell carcinoma of the head and neck; RCC=renal cell carcinoma; NSCLC=non-small cell lung cancer; HCC=hepatocellular carcinoma; mCRPC=metastatic castration resistant prostate cancer; DLBCL=diffuse large B-cell lymphoma; SCLC=small cell lung cancer; FL=follicular lymphoma; 17 MM=multiple myeloma Outlook 2021: Growing sales & profit and investing in the future Aim to defend margins despite headwinds Sales1 Expenses Pharma: New Products growth to continue overcompensating for the biosimilar impact Diagnostics: Strong sales growth expected in particular in H1 21 Pharma: AHR erosion additional impact of roughly CHF Trends expected to continue: –4.6 bn Investing into the future while protecting the margin 1 based on assumption of general normalization in 2H ’21; 2 at CER=Constant Exchange Rates; AHR=Avastin, Herceptin, MabThera/Rituxan 18 2021 outlook Further growing top and bottom line Group sales growth1 • Low- to mid-single digit Core EPS growth1 • Broadly in line with sales growth Dividend outlook • Further increase dividend in Swiss francs 1 At Constant Exchange Rates (CER); based on the current assessment of the COVID-19 impact 19 Pharmaceuticals Division Bill Anderson CEO Roche Pharmaceuticals 2020: Pharmaceuticals Division sales New products growing strongly – sales impacted by COVID-19 pandemic 2020 2019 Change in % CHFm CHFm CHF CER Pharmaceuticals Division 44,532 48,516 -8 -2 United States 23,647 26,711 -11 -6 Europe 8,198 8,453 -3 1 Japan 3,765 4,143 -9 -6 International 8,922 9,209 -3 7 CER=Constant Exchange Rates 21 2020: Pharma Division Core operating profit stable vs.
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