#12 Henlius 复宏汉霖 Henlius (2696.HK) 2023 Annual Results Investor Presentation March 2024 以患者 PATIENT CENTRICITY 为中心#201 2023 Business Highlights & Company Strategy 2 Henlius O 2024 Henlius.#3Revenue Tops 5.39B RMB with Net Profit of 546M RMB Revenue BD ៣ ເຮົາ Pipeline Commercial Capacity 5.39B RMB Commercialization 4 BD Achieved sustainable and profitable growth from strong sales team & effective sales management Over RMB 100M average monthly sales in China from HLX10 (Serplulimab, PD-1) since March 2023; approval of new indication ESCC HLX02 (trastuzumab) average monthly sales in China exceeding RMB 200M since Q2 2023 with a lower expense ratio . HLX10 out-licensed to Intas in Europe 50+ countries and India, with upfront payment up to EUR 42M1, a total payment up to EUR 185M HLX10 out-licensed to Kalbe in the MENA, with upfront payment of USD 7M and a total amount up to USD 665M² In-licensed exclusive rights of Lasofoxifene (SERM) in China from Sermonix for HR+/HER2- breast cancer 50+ R&D The clinical data of HLX10 for 1L sqNSCLC phase III (ASTRUM-004) was presented in WCLC HLX10+ chemo combo approved for 1L ESCC in China HLX42 (EGFR ADC) for TKI failed NSCLC was granted FDA Fast Track Destination (FTD) and entered into phase I HLX43 (PD-L1 ADC), a potential first-in-class product, entered into phase I • 48KL Manufacturing Xuhui Site and Songjiang 1st Plant have passed EU GMP inspection of production areas for HLX10 Xuhui Site passed Indonesia's BPOM (PIC/S member country) inspection of HLX10 production lines Xuhui Site passed Brazil's ANVISA (PIC/S) GMP compliance inspection for HLX01 and HLX02 Operating Cash Flow 1.05B RMB 1. The first part of upfront payment EUR 26M will be paid upon on agreement effective date; and the second part of the upfront payment EUR 16M will be paid when the EMA issues positive 3 opinion (210th day of the evaluation procedure) on the 1L treatment for ES-SCLC; 2. The scope of the sales milestone payments will also include the previously authorized Southeast Asia region, and the total sales milestone payments for the two authorizations will be no more than US$650M • · Financial Total revenue reached RMB 5.39B in 2023, 67.8% YoY growth Total product sales reached RMB 4.55B, 70.2% YoY growth Net operating cash inflow of RMB 1.05B Net profit reached RMB 546M, and net profit rate was 10.1% 2 Henlius#4Our Mission and Vision Affordable Innovation Reliable Quality 080 Biosimilars Maximize the commercialization value in China and international markets Innovative Drugs Y Explore new mechanisms, new technology platforms and expand the therapeutic area coverage Globalization Develop towards a biopharma with global presence & scale O 2024 Henlius. 2 Henlius#5The Sales Growth of Marketed Biosimilars Accelerated; Multiple Pipeline Products Planned for Global Presence 2023 sales revenue of biosimilars reached 3.43 billion RMB, 47% YoY growth The biosimilar pipeline covered globally popular targets such as HER2, RANKL, CTLA-4, and conducted MRCT for global market expansion HANQUYOU BLA was under FDA review while working with business partners to expand global markets Pre- clinical Clinical Trial 3 HLX12-ramucirumab HLX17-pembrolizumab HLX1102-dupilumab 5 HLX05-cetuximab HLX11-pertuzumab HLX13-ipilimumab HLX14-denosumab ① HLX15-daratumumab Marketed Sales Revenue of Marketed Biosimilars (100 million RMB) HANDAYUAN1 HANLIKANG1 HANBEITAI HANQUYOU-overseas² HANQUYOU-domestic 34.3 1.2 0.6 4 HANLIKANG-- rituximab First biosimilar in China HANQUYOU-- trastuzumab +52% 5.2 0.9 23.4 0.5 5.5 15.0 0.4= First Chinese trastuzumab 0.2 26.4 HANDAYUAN-- 5.4 adalimumab €0.6: 17.0 HANBEITAI-- bevacizumab 8.7 With international out-licensing (ex China) and clinical trials 5 1. Revenue recognized by Henlius in 2023. Total revenue recognized by Fosun Pharma 2. Including Zercepac® and drug substance 2024 Henlius. 2021 2022 2023 2 Henlius#6Serplulimab Entered into a New High-growth Stage of Commercialization with Differentiated Advantage 6 MI J 1.12B RMB • 2023 sales revenue reached 1.12B RMB In March 2023, Serplulimab achieved over RMB 100M monthly sales in China for the first time, representing its commercialization stepping up into new stage By the end of 2023, Serplulimab has completed tendering platform listing for all 31 provinces in China, and established a commercial team of ~580 people with strong professional communication skills and sales experience in oncology Clinical Advantages Serplulimab recommended by 9 Diagnosis and Treatment Guidelines of CSCO in 2023 Including 2023 CSCO Diagnosis and Treatment Guidelines for SCLC, NSCLC, EC, CRC and Clinical Application Guideline for immune checkpoint Inhibitor etc. ASTRUM-004 • • In 2023 WCLC, oral presentation of the final analysis results of total population for the first time In 2023 ESMO Asia, the data from the Asian subgroup were showcased in a poster session In 2024, published online in Cancer Cell as its cover feature Differentiated Indications ES-SCLC (marketed): ASTRUM-005 mOS: 15.8 vs 11.1 months GC (Phase III): Expected to be the world leading and the only perioperative immune drug in China for GC LS-SCLC (Phase III): Expected to be the world's first PD-1 for the treatment of LS-SCLC mCRC (Phase II/III): Phase II clinical data of 1L mCRC has been presented in ASCO GI with the mPFS of 17.2 months; expected to become the first approved PD-(L)1 for 1L mCRC O 2024 Henlius. 2 Henlius#7r R&D for Innovative Drugs: Beyond Oncology, Expanding into New TAS Product Type & Introduction ✓ Henlius pipeline contains 59 molecules and 18 R&D platforms with 48 innovative drugs and 11 biosimilars Pipeline focuses around oncology while starting to explore new TAs including Autoimmune / Ophthalmology / Metabolic / Rare Disease... 69% 31% 壽 Solid Tumor Oncology • Breast Cancer • Lung Cancer MSI-H Solid Tumor Gastric Cancer • CRC ESCC HNSCC • NPS • NSCC HCC Non-oncology • IBD • SLE Autoimmune • PBC/PSC • RA DKD Metabolic . 18 35 Pipeline Distribution by Stage R&D Platform Discovery 4 7 4 IND 4 LO Phase I 5 Phase II Phase III Marketed NAFLD/NASH Modality Distribution (1) Cyclic Peptides mRNA Fusion Protein 3% 9% 3% Ophthalmology . Wet AMD Cardiova scular Heart Failure HLP SMC 16% CNS . ALS/PD Non-Hodgkin Lymphoma Chronic Lymphocytic LCH/ECD Leukemia Hematology Rare Diseases • IPF Multiple Myeloma • ALS (1) SMC: Small molecule conjugates; AXC: Antibody X conjugates, including AEC, AOC & ADC 7 O 2024 Henlius. mAb 43% 26% AxC A Henlius 复宏汉霖#8Globalization Has Entered into Substantial Development Stage Southeast Asia (Marketed) HLX10-Serplulimab Serplulimab has been approved for 1L ES-SCLC by Indonesia's food and drug administration (BPOM), becoming the first marketed China-made PD-1 mAb in Southeast Asia (Marketed) HLX02-Trastuzumab biosimilar • HANQUYOU has marketed in 40+ countries and regions, including the EU, Australia, Argentina, Saudi Arabia, Singapore etc., and is expected to be approved in the US in 2024. The 2023 ex-China sales of HANQUYOU (revenue reported by Henlius) has reached RMB 93M Serplulimab MAA under EMA review Europe PD-(L)1 market in Europe Expected to exceed US$28B1 in 2030 USA Japan Serplulimab bridging study in the US is in progress PD-(L)1 market in the US Expected to reach US$48.4B1 in 2030 Explore potential market with unmet medical needs PD-(L)1 market in Japan Expected to exceed US$8.4B1 in 2030 . • HLX11-Pertuzumab biosimilar MRCT has enrolled 908 patients globally, expected to be the first approved Pertuzumab biosimilar in the US and Europe As the 2023 sales of the originator drug was over US$3.95B2, HLX11 will have a promising global market prospect by licensing collaboration with ORGANON HLX14- Denosumab biosimilar MRCT has enrolled 514 patients globally, and HLX14 is expected to file BLA in the US in 2024 As the originator drug achieved over US$6.16B2 sales in 2023, HLX14 will have a promising global market prospect by licensing collaboration with ORGANON 8 1.Data source: IQVIA MIDAS AUDITED VALUE, the European market includes EU and the UK 2. From the annual report of the originator drug owners O 2024 Henlius. 2 Henlius#902 Commercialization 2 Henlius O 2024 Henlius.#10HANQUYOU (Trastuzumab): Sales Growth 58% YoY Henlius (注射用 曲妥珠斗 仅整优 で公 2.74B RMB* Henlius Revenue in 2023 Henlius 注射用曲妥珠单抗 汉曲优 Ⓡ 注射用曲妥珠单抗 汉曲优 Ⓡ 150毫克/瓶 01瓶装 60毫克/瓶 51瓶装 REI . International quality First approved trastuzumab biosimilar in China First "Chinese nationality" mAb biosimilar approved in Europe BLA under FDA review; expected to be the first "Chinese nationality" biosimilar approved in all three regions of China, Europe, and the US Launched in 40+ countries and regions Multiple specifications Tailored for HER2-positive breast cancer patients in China with flexible specs to fit with personalized dosage and reduce residual fluid waste No preservatives, solution preparation upon product usage to improve safety • Improved patient medication safety and good practice for drug administration • Strong growth momentum 1.73 2022 +58% In Billion RMB 2.74 2023 • • 150mg specification: completed NRDL and tendering platform listing for all provinces in China 60mg specification: completed NRDL listing for all provinces and tendering platform listing in 30 provinces by the end of February 2024 Commercial team with ~600 professionals, covering 6 major sales regions and ~3,700 hospitals in China Zercepac 150mg der for concent astuzumab after reconst clusion Ore is sortains 159mg Tab A onl danir contars 2 rg Hus sontairs Lathe cebetales tyre Rest e Rewe package te beds an Kong to the schrand cd des Stove in a retigerat Zercepac 150 mg powder for concentrate for solution for infusion trastuzumab For intravenous use only after reconstruton and clution 1 vial accord Ⓒ Target: HER2 Indications: · • Early stage breast cancer Metastatic breast cancer Metastatic gastric cancer Drug Specifications: 150mg/bottle (China, overseas) 60mg/bottle (China, overseas) 420mg/bottle (overseas) 2 Henlius ZercepacⓇ in Europe TuzucipⓇ and TrastucipⓇ in Australia *Sum of sales revenue of HANQUYOU in China and overseas, and drug substance of trastuzumab 10 2024 Henlius.#11Excellent Performance of HANQUYOU Higher sales per capita than domestic peers Sales Per Capita¹ (2023) >5M RMB The only Trastuzumab with two specifications 2 specifications were customized to address HER2+ breast cancer patients medical needs in China Solved the issue of residual liquid storage, improving drug use safety and honing product differentiation advantage 60 150 mg mg Strengthen product differentiation for competitive advantages In 2023, the competition has become complicated when other local trastuzumab products had been marketed With advanced planning and preparation, HANQUYOU have enhanced the market's recognition of the product advantages on international quality and two specifications Bold expansion into broad market Trastuzumab has wide application and its sales in the broad market (outside the Top1,000 hospitals) have increased rapidly, resulting to fast-growing market share in China HANQUYOU has expanded the coverage with marketing activities in lower tier areas to capture potential of broad market * Sales per capita = Product sales / # of salesforce 2 Henlius 11 O 2024 Henlius.#12HANSIZHUANG (Serplulimab): First Approved PD-1 mAb for 1L SCLC Henlius 斯鲁利单抗注 艾斯状 100mg (10ml)/ 1.12B RMB Revenue in 2023 Henlius 斯鲁利单抗注射液 汉斯状 Ⓡ Ф 100mg (10ml)/ 01瓶/盒 ZerpidioⓇ in Indonesia 12 R • Widespread recognition MAA for 1L ES-SCLC indication is under EMA review Recommended in 2023 CSCO treatment guidelines for SCLC, NSCLC, EC etc. 1L ESCC indication was approved in China in September 2023 00 Differentiated strategies to seize the market Developed differentiated marketing strategies and focused on SCLC to rapidly increase market share and gain customer trust Working with business partners to create more commercial value and expand overseas market Zerpidio SERPLULIMAB 100 mg/10 mL Solution for Infusion For IV Use Only NVU Якаве • Efforts to product accessibility Launched patient assistance programs to reduce patients' economic burdens, to improve adherence so as to optimize treatment outcomes Covered by Huiminbao (Regional Commercial Health Insurance) in 75 provinces/cities incl. Shanghai, Fujian, Shaanxi, Chongqing, Nanjing, Suzhou, Chengdu, Jinan, Xiamen etc. and greatly improve local residents' access of HANSIZHUANGⓇ Ⓒ Target: PD-1 Indications: • • Acceleration on market access and penetration Completed tendering and procurement platform listing in all provinces in China ~580 people commercial team with strong sales experience in oncology and territories allocated Established efficient distribution network, strengthening the coverage of DTP pharmacies and infusion centers to maximize patients' accessibility Drug Specifications: Zerpidio SERPLULIMAB Des. Incikas, dau informa 100 mg/ml ebih ljut hatcow Thapa (10 mil manganding Smash Bas 12-- Jared Na and HARUS DENGAN RESEP DOKTER Dauradited- Dampen clus Dobley Lo TOPAD but Cialis 2024 Henlius. • MSI-H solid tumor • sqNSCLC • ES-SCLC • ESCC 100mg/10ml/bottle 2 Henlius#13HANSIZHUANG Commercialization Highlights First-class Commercialization Efficiency 1.12B RMB 2023 Sales Per Capita¹ • · Outstanding Achievements Sales outperformed most of the competing PD-1/PD-L1 in China since its launch in 2021 Became the Tier-1 PD-1 /PD-L1 products in China in 2023 Industry Leading > 2M RMB Higher than all PD-1/PD-L1 products marketed 2023 1. Sales per capita = Product sales / # of salesforce 13 2. Henlius internal data in China during the same time period² O 2024 Henlius. Differentiation strategy to tackle challenges and win opportunities iiiii Challenges & opportunities NSCLC survival data read-out ESCC indication approved . • • • Differentiation Strategy Focus on SCLC (15-20% of total lung cancer patients) Actively tackle with challenges from newly launched SCLC products, and accurately interpret the research results Effectively promote messages of product advantages to keeping the leading position The superior survival data for sq NSCLC, especially the Chinese subgroup read-outs, increased physicians' recognition of HANSIZHUANG'S efficacy Establish marketing synergy in NSCLC & SCLC Conduct commercialization for the new indication by leveraging HANSIZHUANG's efficacy for ESCC patients with immuno-therapy advantages Deliver the concept of precise treatment for precise benefits to rapidly increase ESCC market share 2 Henlius#14HANBEITAI (Bevacizumab): Commercialization Acceleration in 2023 14 贝伐珠单抗注射液 100 mg(4 m/ Acceleration on market access and penetration 119M RMB • Covered by NRDL in 31 provinces, and Revenue in 2023 Henlius 贝伐珠单抗注射液 汉贝泰 Ⓡ 100 mg(4 ml)/ • • Exploration for new medication methods completed tendering and procurement platform listing in 28 provinces Focus on the dual-channel markets, and enhance market recognition to drive sales growth Proactively seek for hospitals access in non dual-channel markets Proactively participate in provincial VBP programs • The only bevacizumab biosimilars with phase III clinical data on metastatic colorectal cancer in China Potentially can combine with HANSIZHUANG (anti-PD-1 mAb) to treating multiple tumor types in a combo therapy Ⓒ Target: VEGF Indications: 2024 Henlius. • Metastatic colorectal cancer Advanced, metastatic or recurrent NSCLC • Recurrent glioblastoma • Cervical cancer • Drug Specifications: 100mg/4ml/bottle Epithelial ovarian, fallopian tube, or primary peritoneal cancer 2 Henlius#15HANLIKANG (Rituximab): Strengthen the Market Leader Position 541M RMB Revenue recognized by Henlius and licensing income in 2023 Total revenue recognized by Fosun Pharma • • . • Acceleration on market access and penetration Approved in February 2019 as the first approved biosimilar in China, the first approved rituximab biosimilar in China New indication approved in February 2022: the first rituximab approved for Rheumatoid Arthritis indication in China Solid market leader position Market leader for rituximab in China with speedy share growth since launch Gained the largest market share for consecutive quarters, 49% in Q3 2023* Commercialization Progress Jiangsu Fosun, a subsidiary of Fosun Pharma, is responsible for HANLIKANG'S commercialization in China Listed on the procurement platforms and covered by NRDL in all provinces in China -6% 575 541 2022 2023 In Million RMB FOSUN PHARMA Henlius Henlius FOSUN PHARMA * 利妥昔单抗注射液 利妥昔单抗注射液 汉利康 ® 500mg/50ml 150m |利妥昔单抗注射液 稀释后缓慢静脉输注 50mg/50ml |释后缓慢静脉输注 往上许可许有人;上海望宏汉群生照料需有财 生产企业:上海复密汉程生物院病有限公司 15 * Source: Henlius internal analysis 汉利康。 100mg/10ml 糀释卮燥悛静脉输注 利妥昔单抗注鍋 ANA Drug Specifications: 100mg/10ml/bottle 500mg/50ml/bottle Ⓒ Target: CD20 Indications: Non-Hodgkin lymphoma Chronic lymphocytic leukemia Rheumatoid Arthritis (RA) 2024 Henlius. 2 Henlius#16HANDAYUAN (Adalimumab): Entered Autoimmune Disease Area 59M RMB Revenue recognized by Henlius in 2023 Total revenue recognized by Fosun Pharma 2 Improve patients' availability and accessibility Henlius' first autoimmune disease product Covered by NRDL and completed tendering and procurement platform listing in 29 provinces The first phase III clinical study of adalimumab biosimilar for psoriasis patients in China Established the Da En Home and Zi Mian Home, the first full cycle patient care platforms for autoimmune diseases in China Launched ASSC Ankylosing Spondylitis Standardized Diagnosis and Treatment Project together with NCRC-DID • Work with partners to penetrate the market Jiangsu Wanbang is responsible for China local sales of HANDAYUAN. It has a sizable rheumatic immunity business unit with experienced salesforces as well as a mixed line sales team targeting at broad market. Out-licensed the commercialization rights of HANDAYUAN to Getz Pharma in 11 countries, including Pakistan, the Philippines and Kenya, and accelerate global footprint 阿达木单抗注射液 阿达木单抗注射液 汉达远 ® 16 Henlius FOSUN PHARMA (1)1至0.8m注射液 复星医药成员企业 配一次性使用无菌注射器 Amp E 和迎木鍋抗注射 Ⓒ Target: TNF-α 2024 Henlius. Indications: Rheumatoid arthritis Drug Specifications: 40mg/0.8ml/bottle • Ankylosing spondylitis Psoriasis Uveitis 2 Henlius#1703 Business Development 2 Henlius O 2024 Henlius.#182023 Major Business Development Projects Out-licensing XKGbio accord The Evolution of Generics Boston Oncology™ In-licensing Sermonix Pharmaceuticals PT Kalbe Genexine Biologics (Contract signing date: 2023/08/25) Upfront payment US$7M Up to US$665M in Total* HANSIZHUANG (Serplulimab) Covering 12 countries in the Middle East and North Africa Accord Healthcare Limited Subsidiary of Intas Pharmaceuticals Limited (Contract signing date: 2023/10/27) Upfront payment up to €42M Up to €185M in Total HANSIZHUANG (Serplulimab) Covering 50+ countries in Europe and India Boston Oncology, LLC (Contract signing date: 2023/04/04) First time into the Saudi market HANLIKANG (Rituximab) Entered into NUPCO procurement marketplace in Saudi Arabia Sermonix Pharmaceuticals (Contract signing date: 2024/01/11) Milestone payment up to US$58M Lasofoxifene For breast cancer treatment Exclusive rights in China Expand HR+ breast cancer portfolio *The scope of the sales milestone payments will also include the previously authorized Southeast Asia 18 region, and the total sales milestone payments for the two authorizations will be no more than US$650 2024 Henlius. 2 Henlius#19Breast cancer products 3000+ hospitals 600+ Commercialization team Type In-licensing Focus: Leverage BD to Expand Portfolio into Different Sub-types of Breast Cancer 2L/2L+ 1L Perioperative period HER2+ HR+/ HER2- • 注射用曲妥珠单抗 汉曲优 HLX11 Pertuzumab Lasofoxifene (HLX78) • Lasofoxifene (HLX78) ESR1mut BC (2L+) • HR+/HER2- (2L+) BC Lasofoxifene (small molecule SERM*): Lasofoxifene has tissue selectivity to the biological activities of estrogen receptor (ER); ER shows inhibitory activity in breast cancer cells while it can activate bone tissue cells Lasofoxifene has positive data from two phase II clinical trials for ESR1-mutated breast cancer; PFS reached 13.9 months in combination with Abemaciclib (Eli Lilly's CDK4/6 inhibitor) (historical PFS was ~5 months for Fulvestrant + Abemaciclib) Lasofoxifene has less side effects such as decreased bone density and menopause symptoms compared with SERDS In-licensing deal snapshot: • Henlius obtained exclusive rights to Lasofoxifene for breast cancer treatment in China. Sermonix will receive up to US$58M milestone payment in addition to upfront payment and royalties Henlius will join in Sermonix's MRCT phase III for at least two indications in China, leveraging Henlius' advantages in clinical operations • With Henlius' efficient clinical execution and patient enrollment speed, clinical trial of Lasofoxifene is expected to be accelerated in China *SERM: selective ER modulator; SERD: selective ER degraders 19 O 2024 Henlius. 2 Henlius#20Out-licensing Focus: Henlius' International Quality Biosimilars Scale up across the Globe Market Size of Originators and Marketed Biosimilars Biosimilars with existing out-licensing partners Global sales in 2023 (M USD) Biosimilars to be out-licensed ex-China Global sales in 2023 (M USD) EU, US, CAN, ASEAN, MENA, etc. with accord XKGbio Abbott Eurofarma E Elea The Evolution of Generics Broadening horizons HLX14- Denosumab HLX02- Trastuzumab HER2 9,274 RANKL HLX11- Pertuzumab 6,726 Global with HER2 3,947 Organon O Global with Organon HLX03- Adalimumab TNF-α 16,002 ASEAN, MENA, etc. with HLX01- Rituximab CD20 3,888 HLX04- Bevacizumab VEGF 3,381 MENA, LATAM etc. with Boston Oncology™ Eurofarma Broadening horizons FARMA DE COLOMBIA Abbott LATAM, etc. with →Eurofarma Broadening horizons Potentially first biosimilar in EU and the US Global potentially first biosimilar 20 Data Source: Global data GGetz pharma O 2024 Henlius. 1 I 1 I HLX15- Daratumumab CD38 9,744 HLX17- Pembrolizumab PD-1 25,087 HLX13- Ipilimumab CTLA-4 2,238 HLX05- Cetuximab EGFR 1,678 HLX12- Ramucirumab VEGFR-2 1,013 A Henlius 复宏汉霖#2121 04 Research & Development ② Henlius 复宏汉霖 ©2024 Henlius.#22Product Pipeline HLX51 OX40 IND Solid tumors, lymphoma Phase I HLX10 (1) (serplulimab)+HLX60(2) PD-1+GARP Solid tumors Phase II HLX10 (serplulimab)+HANBEITAI PD-1+VEGF mCRC 1L HLX6018 GARP/TGF-ẞ1 IPF HLX17 (pembrolizumab) PD-1 MEL, NSCLC, EC, HNSCC, CRC, HCC, TNBC HLX99 Polypharmacology ALS HLX60(2) GARP Solid tumors, lymphoma HLX53 TIGIT Solid tumors, lymphoma HLX42(4) EGFR ADC Solid tumors HLX101) (serplulimab)+HLX07 PD-1+EGFR HNSCC, NPC, GC, ESCC, sqNSCLC HLX10 (serplulimab)+HLX26+chemo PD-1+LAG-3 NSCLC 1L Phase III HLX10) (serplulimab)+chemo PD-1 ES-SCLC 1L HLX10) (serplulimab) +chemo PD-1 Neo/adjuvant treatment for GC HLX10) (serplulimab) +chemo +radio PD-1 LS-SCLC 1L HLX04-0 (8) HLX07(6) EGFR Solid tumors (cSCC) VEGF WetAMD NDA HLX10 (serplulimab)+chemo PD-1 ES-SCLC 1L HLX10) (serplulimab)+HANBEITAI PD-1+VEGF nsNSCLC 1L HLX02 (trastuzumab)(12) HER2 Breast cancer, MGC MAA Marketed HANSIZHUANG (serplulimab)(1) PD-1 MSI-H solid tumors, sqNSCLC, ES- SCLC, ESCC HANLIKANG (rituximab)(14) CD20 NHL, CLL, RA (15) (12) HANQUYOU (trastuzumab)" HER2 Breast cancer, MGC HANDAYUAN (adalimumab)(13) TNF-a PJIA, pediatric plaque psoriasis, etc. HANDAYUAN (adalimumab)(13) TNF-a RA, AS, psoriasis, uveitis HLX43(3) PD-L1 ADC Solid tumors HLX22+HANQUYOU HER2+HER2 GC HLX11 (pertuzumab)(9) HER2 Neoadjuvant treatment of breast cancer HLX05 (cetuximab) (5) EGFR mCRC, HNSCC HLX208(7) BRAF V600E LCH/ECD, solid tumors (i.e. MEL, TC, mCRC, NSCLC) HLX14 (denosumab)(10) RANKL Osteoporosis HLX15 (daratumumab) CD38 Multiple myeloma HLX208(7) +HLX10 (1) (serplulimab) BRAF V600E+PD-1 NSCLC HLX78 (Lasofoxifene) (11) SERM Breast cancer HANBEITAI (bevacizumab) VEGF (16) mCRC, advanced, metastatic or recurrent NSCLC, GBM, etc. HLX13 (ipilimumab) CTLA-4 MEL, RCC, CRC, HCC, NSCLC, MPM, EC Innovative mAb Innovative fusion protein mAb biosimilar Innovative ADC Bridging study in Innovative small molecule BLA under FDA review MAA MAA application in the EU the US MRCT The first Chinese mAb approved both in the Chinese mainland and the EU (1) Approved in China and Indonesia, business partners: KGbio/Fosun Pharma/Intas. (2) IND approvals obtained in Australia. (3) IND approvals obtained in China/the US. (4) IND approvals obtained in China/the US, and received fast track designation by FDA. (5) Business partner: Shanghai Jingze. (6) IND approvals obtained in China/the US. (7) Exclusive right in China. (8) IND approvals obtained in China/Australia/the US/Singapore/the EU countries, etc. Business partner: Essex. (9) IND approvals obtained in China/the EU. Business partner: Organon. (10) IND approvals obtained in China/the EU/Australia. Business partner: Organon. (11) Exclusive rights in China, MRCT phase III global enrolment is in process. (12) Approved in 40+ countries, including China, the UK, Germany, France and Australia, trade name registered in Europe: ZercepacⓇ, trade name registered in Australia: TuzucipⓇ and TrastucipⓇ. Business partners: Accord/ Cipla/ Jacobson/ Elea/ Eurofarma/ Abbott/KGbio. (13) Business partners: Wanbang/Getz Pharma. (14) The first biosimilar approved in China. Business partners: Fosun Pharma/FARMA DE COLOMBIA/Eurofarma/Abbott. (15) The first rituximab approved for the indication in China. (16) Business partner: Eurofarma. 22 © 2024 Henlius. 2 Henlius#23Clinical Pipeline Milestones: 2023 Full-Year Review 23 2023 NDA/BLA/MAA Submission HLX10 ES-SCLC1 1L (EU) HLX10 ES-SCLC 1L (Indonesia, Myanmar, Cambodia, Malaysia, Thailand, Singapore) HLX10 nsNSCLC2 1L (China) HLX10 sqNSCLC³ Final OS results 1L (Pivotal) HLX07+HLX10 ESCC4 HLX07+HLX10 sqNSCLC 1L, 2L and late-line 1L Key Clinical Data Readouts HLX208 BRAF V600E LCH/ECD5-22pts HLX10 nsNSCLC 1L (Pivotal) HLX07 CSCC6 1L and late-line 1. Extensive stage small cell lung cancer. 2. Non-squamous non-small cell lung cancer. 3. Squamous non- small cell lung cancer. 4. Esophageal squamous cell carcinoma 5. Langerhans cell histiocytosis (LCH) and Erdheim-Chester disease (ECD). 6. Cutaneous squamous cell carcinoma O 2024 Henlius. Innovative mAb Innovative small molecule A Henlius 复宏汉霖#24Clinical Pipeline Milestones: Expected in 2024 2024H1 HLX10 MSI-H solid tumors HLX10 ESCC² HLX10 ES-SCLC3 Late-line (Hong Kong SAR, Macao SAR) 1L (Macao SAR) 1L (US, Vietnam, UK, NDA/BLA/MAA Submission HLX14 PMOP1 (EU & US) HLX10 ES-SCLC3 1L (the Philippines, Hong Kong SAR, Macao SAR) HLX10 sqNSCLC4 1L (Indonesia, Macao SAR) HLX10+HLX04 MCRC6 1L (POC) HLX22+HLX02 Key Clinical GC7 1L (POC) Data Readouts 1. Postmenopausal osteoporosis 23 2. Esophageal squamous cell carcinoma 5. 3. Extensive stage small cell lung 24 cancer 4597 4. Squamous non-small cell lung cancer 8. Age-related macular degeneration 9. 6. 7. Metastatic colorectal cancer Gastric cancer India) HLX04-0 Wet AMD5 1L (China) HLX22+HLX02 GC 1L (POC) 2024H2 HLX10 sqNSCLC4 1L (India) HLX11 Breast cancer Neoadjuvant therapy (US, China) HLX10 MSI-H solid tumors Late-line (India) HLX14 PMOP1 (US) HLX04-O Wet AMD 1L (China Pivotal) HLX10 ESCC2 1L (India) HLX11 Breast cancer Neoadjuvant therapy (Pivotal) HLX10+HLX04 HLX07+HLX10 mCRC6 NPC8 1L (POC) 1L (China PoC) HLX14 PMOP1 (Pivotal) HLX10 nsNSCLC⁹ 1L (Pivotal) HLX10 ES-SCLC3 1L (Bridging) Nasopharyngeal carcinoma Non-squamous non-small cell lung © 2024 Henlius. cancer The Company's internal planning time is subject to the actual situation, and shareholders and potential investors of the Company are advised to exercise caution when trading the Company's shares. Innovative mAb mAb biosimilar 2 Henlius#25Clinical Data of HLX10-015-CRC301 Data cut-off date: 2023/06/01; median follow-up duration: 17.7 months . The latest clinical data of the phase II/III results (HLX10-015-CRC301) of HANSIZHUANG (HLX10, serplulimab)+HANBEITAI (HLX04, bevacizumab)+XELOX for 1L mCRC (metastatic colorectal cancer) treatment was presented in posters at the 2024 ASCO GI The results of this study demonstrated that serplulimab plus bevacizumab and XELOX was safe and markedly improved PFS and other efficacy endpoints compared to placebo plus bevacizumab and XELOX in patients with mCRC. The probability of grade ≥3 treatment-related adverse events (AEs) of the two treatment groups were similar, with the most common AEs are reduced neutrophil count and reduced platelet count Serplulimab plus bevacizumab and XELOX warrants further large-scale investigation and could be a new1L treatment option for mCRC patients including MSS mCRC patients Product Clinical Trial Regimen Serplulimab+ HLX10-015-CRC301 A: Serplulimab+Bevacizumab+chemo (XELOX) SOC (Ph II) B: Bevacizumab+chemo (XELOX) Sample Size mPFS (months) mOS (months) mDOR (months) ITT population 55 vs 57 17.2 vs 10.7 (extended 6.5 months) HR=0.60, p=0.114 NR vs NR HR=0.77, p=0.409 15.9 vs 12.6 HR=0.27, p=0.007 MSS subgroup 40 vs 50 ITT population 17.2 vs 10.1 (extended 7.1 months) HR=0.58, p=0.110 NR vs NR HR=0.67, p=0.293 15.9 vs 8.3 HR=0.36, p=0.023 ΝΑ Atezolizumab AtezoTRIBE1 (Ph II) A: Atezolizumab+Bevacizumab+chemo (FOLFOXIRI) 145 vs 73 13.1 vs 11.5 HR=0.71, p=0.015 + SOC B: Bevacizumab+chemo (FOLFOXIRI) PMMR subgroup 134 vs 67 13.0 vs 11.5 HR=0.79, p=0.073 33 vs 27.2 HR=0.81, p=0.136 30.8 vs 26.9 HR=0.83, p=0.172 NA Nivolumab+ CheckMate 9X82 (Ph II) A: Nivolumab+Bevacizumab+chemo (mFOLFOX6) ITT population SOC 127 vs 68 11.9 vs 11.9 HR=0.81, p=0.3 (negative) 29.2 vs NR HR 1.03, p NA 12.9 vs 9.3 HR NA, p NA B: Bevacizumab+chemo (mFOLFOX6) for mCRC3 (Ph III) Bevacizumab Bevacizumab+chemo (IFL*) A: Bevacizumab+chemo (IFL*) (SOC) B: chemo (IFL*) ITT population 402 vs 411 10.6 vs 6.2 HR=0.54, p<0.001 20.3 vs 15.6 HR=0.66, p<0.001 10.4 vs 7.1 HR=0.62, p=0.001 * IFL, irinotecan, bolus fluorouracil, and leucovorin. 25 1. J Clin Oncol 41, 2023 (suppl 16; abstr 3500). 2. Lenz, H-J. et al. J Clin Oncol 40, 4_suppl.008 (2022). 3. Hurwitz, H. et al. N Engl J Med 350, 2335-2342 (2004). © 2024 Henlius. 2 Henlius#26Serplulimab: Targeting Differentiated Indications D Gastric Cancer 1 (GC) Neoadjuvant treatment in combination with Chemotherapy / Adjuvant with Serplulimab only Phase III clinical data readout: H1 2025 2 3 According to the baseline data analysis of 649 subjects in the Checkmate, 60% advanced GC patients had CPS ≥ 5. The trial design had focused on PD-L1-positive patients (CPS ≥ 5) from the very beginning. Serplulimab aims to be the world leading and China's only perioperative I/O treatment for GC Around 2/3 of 400,000 new GC cases in China every year 1,2 were suitable for perioperative treatments. With the increasing penetration of gastroscopy examinations, more GC cases will be detected Currently, the median EFS of perioperative SoC for GC is ~3 years. It is estimated that most patients can be treated with Serplulimab for up to 20 treatment cycles (the maximum duration set by the trial protocol) if the trial succeeds 26 Limited Stage Small 1 00 Cell Lung Cancer (LS-SCLC) Serplulimab combined with Concurrent Chemoradiotherapy (CCRT) Phase III clinical data readout: H2 2026 2 3 Globally, the incidence for lung cancer ranks #2 and the mortality ranks #1. In China, both incidence and mortality of lung cancers ranks #1. Among 820,000 new cases of lung cancers in China every year, 15% is SCLC. Among SCLC patents, about 30%-40% are LS-SCLC³ Phase III MRCT had 238 patients enrolled as of Dec. 2023, from mainland China, Hong Kong SAR, Australia, the US, etc.; by Oct. 2023, the first patient has been dosed in the EU Concurrent chemoradiotherapy (CCRT) is the SoC for LS-SCLC and globally no PD-1/PD-L1 was approved yet for this indication. Serplulimab can potentially become the world's first PD-1 mAb for LS-SCLC treatment if the trial succeeds 1. Zheng RS et al. 2016 China cancer prevalence analysis. Chinese Journal of Oncololgy, 2023, 45(3): 212-220. DOI: 10.3760/cma.j.cn112152-20220922-00647 2. Strong, Vivian E et al. “Differences in gastric cancer survival between the U.S. and China." Journal of surgical oncology vol. 112,1 (2015): 31-7. doi:10.1002/jso.23940 3. Ha IB, Jeong BK, Jeong H, et al. Effect of early chemoradiotherapy in patients with limited stage small cell lung cancer. Radiat Oncol J. 2013 Dec;31(4):185-90 © 2024 Henlius. 2 Henlius#27HLX22: Potential to Change the SOC of 1L GC Anti-HER2 mAb HLX22 (HER2) • HLX22 targets at different epitopes within domain IV of Her2 PDX data shows HLX22 & Trastuzumab combo has more advantages than Trastuzumab & Pertuzumab combo in GC HER2 HER1 HER2 HER3 HER2 Juhukum mikkm HER2 HER2 • • Current SOC of 1L MGC/GJC treatment Trastuzumab + chemo approved in 2010: mPFS 6.7 months, mOS 13.8 months, and mDoR 6.9 months¹ Phase II study data shows HLX22 has clear benefits for patients, leading to great potential to change the SOC Downstream Signal Transduction Pathway Downstream Signal Transduction Pathway Tumor Cell Survival Tumor Cell Proliferation Tumor Cell Survival Tumor Cell Proliferation • HLX22 has shown better efficacy and safety • . Efficacy will not be affected by the expression level of PD-L1 No observation of severe diarrhea which was observed in other clinical trials of 1L HER2+ GC Phase II clinical data of HLX22-GC-201 has been presented in 2024 ASCO GI 1.Bang, Yung-Jue et al. “Trastuzumab in combination with chemotherapy versus chemotherapy alone for treatment of HER2-positive advanced gastric or gastro-oesophageal junction cancer (TOGA): a phase 3, open-label, randomised controlled trial." Lancet (London, England) vol. 376,9742 (2010): 687-97. doi: 10.1016/S0140-6736 (10) 61121-X; 2.Janjigian, Yelena Y et al. "The KEYNOTE-811 trial of dual PD-1 and HER2 blockade in HER2-positive gastric cancer." Nature vol. 600, 7890 (2021): 727-730. doi: 10.1038/s41586-021-04161-3; Zanidatamab (zani), a HER2- targeted bispecific antibody, in combination with chemotherapy (chemo) and tislelizumab (TIS) as first-line (1L) therapy for patients (pts) with advanced HER2-positive gastric/gastroesophageal 27 junction adenocarcinoma (G/GEJC): Preliminary results from a phase 1b/2 study. Keun Wook Lee, Li-Yuan Bai, et al Journal of Clinical Oncology 2022 40: 16_suppl, 4032-4032 2 Henlius#28Clinical Data of HLX22-GC-201 Data cut-off date: 2023/07/30; median follow-up duration: 14.3 months The clinical data of Phase II study (HLX22-GC-201) of HLX22 (an innovative anti-HER2 mAb)+HANQUYOU (HLX02, trastuzumab)+XELOX for the 1L HER2-positive gastric/gastroesophageal junction (G/GEJ) cancer was presented in the posters at 2024 ASCO GI The results of this study demonstrated that adding HLX22 to trastuzumab + XELOX was safe and improved survival and antitumor response in patients with HER2-positive G/GEJ cancer in the first-line treatment. HLX22+HLX02+XELOX, as the 1L treatment for HER2-positive G/GEJ cancer also shown good tolerance, with the most common treatment-related adverse events (AEs) of neutrophil and leukocyte count decreased and anemia HLX22+ trastuzumab +XELOX warrants further large-scale investigation and could be a new 1L treatment option for HER2-positive G/GEJ cancers. Currently, no similar HER2 dual-target treatment for HER2-positive GC has been approved globally Product Clinical Trial Regimen Sample Size mPFS (months) mOS (months) A: HLX22 (25 mg/kg)+Trastuzumab+chemo (XELOX) 15.1 vs NR vs 8.2 ITT population HLX22 HLX22-GC-201 (Ph II) B: HLX22 (15 mg/kg)+Trastuzumab+chemo (XELOX) 18 vs 17 vs 18 A vs C: HR=0.5, p=0.1272 A vs C: B vs C: HR=0.1, p=0.0007 B vs C: NR vs NR vs NR HR=0.4, p=0.1621 HR=0.3, p=0.0894 C: Trastuzumab+chemo (XELOX) KEYNOTE-8111 (Ph ITT population III) 350 vs 348 EMA: approved for A: Pembrolizumab+Trastuzumab+chemo Pembrolizumab PD-L1+ subgroup; (CF/XELOX) 298 vs 296 FDA: expediated approved for PD-L1+ subgroup B: Trastuzumab+chemo (CF/XELOX) IA3: NA Trastuzumab TOGA², 3 (Ph III) A: Trastuzumab+chemo (CF/CX) B: chemo (CF/CX) PD-L1+ subgroup PD-L1-subgroup 52 vs 52 Adjusted ITT population 294 vs 290 China subgroup IA2: 10.0 vs 8.1 HR=0.72, p=0.0002 IA2: 10.8 vs 7.2 HR=0.70, p NA IA2: 9.5 vs 9.6 HR 1.17, p NA 6.7 vs 5.5 HR=0.71, p = 0.0002 6.8 vs 5.5 HR=0.69, p NA 8.5 vs 7.0 HR=0.73, p = 0.0001 IA3 20.0 vs 16.8 HR=0.84, p NA IA3: 20.0 vs 15.7 HR=0.81, p NA IA2 16.1 vs 22.3 HR=1.61, p NA 13.8 vs 11.1 HR=0.74, p=0.0046 12.6 vs 9.7 HR=0.72, p<0.05 A: Pertuzumab+Trastuzumab+chemo (CF/CX) 17.5 vs 14.2 B: Trastuzumab+chemo (CF/CX) HR=0.84, p=0.057 (failed) CF, cisplatin and fluorouracil; CX, cisplatin and capecitabine; DOR, duration of response; G/GEJ, gastric/gastroesophageal junction; HR, hazard ratio; IA, interim analysis; ITT, intention-to-treat; m, median; NA, not available; NR, not reached; OS, overall survival; Pembro, pembrolizumab; PFS, progression-free survival; Tras, trastuzumab; XELOX, capecitabine and oxaliplatin. 1. Janjigian YY, et al. Lancet 2023; 402 (10418): 2197-2208. 2. Bang Y-J, et al. Lancet 2010; 376 (9742): 687-97. 3. Shen L, et al. Zhonghua Zhong Liu Za Zhi 2013; 35 (4): 295-300. 4. Tabernero J, et al. Lancet Oncol 2018: 19 (10): 1372-1384. Pertuzumab 28 JACOB4 (Ph III failed) 36 vs 48 ITT population 388 vs 392 © 2024 Henlius. mDOR (months) 12.4 vs NR vs 6.8 A vs C: HR=0.6, p=0.2848 B vs C: HR=0.1, p=0.0006 IA2: 11.2 vs 9.0 HR NA, p NA IA2: 11.3 vs 9.5 HR NA, p NA IA2: 8.9 vs 9.0 HR NA, p NA 6.9 vs 4.8 HR=0.54, p <0.0001 5.8 vs 4.5 HR=0.56, p NA 10.2 vs 8.4 HR NA, p NA 2 Henlius#294.1 Pre-clinical Assets 2 Henlius O 2024 Henlius.#30HLX43 (PD-L1 ADC) Presented Excellent Preclinical Efficacy Data in ESMO and Entered into Clinical Phase I ESMO 2023 FPN: 693P HLX43 shows no immunotoxicity towards PD-L1 positive human APCs A Macrophage 120- 100- % untreated II. Title Preclinical activity of HLX43, a PD-L1-targeting ADC, in multiple PD-1/PD-L1 refractory/resistant models Results HLX43 shows no immunotoxicity towards PD-L1 positive human APCs In in vivo efficacy studies, HLX43 induced tumor regression in in multiple PD-L1- positive CDX & PDX models, and was well tolerated, with no major changes in body weight of administered mice compared to control animals, across all dosing groups As in the MDA-MB-231 model, weekly administration of HLX43 at 8 mg/kg for three weeks induced significant tumor regression, while no body weight loss was observed In all tested models (weak PD-L1 expression and high heterogeneity, as well as PD-1/PD-L1 nonresponsive models), HLX43 always showed superior anticancer efficacy over the anti- PD-L1 Ab-GGFG-Dxd at equivalent doses. Preliminary toxicity assessments in rats and cynomolgus monkeys also demonstrated that HLX43 was safe B % untreated Regulatory and Clinical Trial Progress IND of HLX43 for the treatment of advance/metastatic solid tumors has been successively approved by China NMPA and the US FDA during Oct. to Nov., 2023 On Nov. 24, 2023, the phase I clinical trial of HLX43 for the treatment of advance/metastatic solid tumors has completed the first patient dosing in China • The phase I dose escalation study is in process; the indications to be developed include but not limited to lung cancer, esophagus cancer, liver cancer, etc. 30 30 80- 60- - HLX43 40- IgG-Linker-Payload - HLX20 20- → Payload 0- 104 102 10° 102 104 Conc. (nM) Dendritic Cell 120- 100- 80- 60- * HLX43 40- → IgG-Linker-Payload HLX20 20- → Payload 104 10-2 10° Conc. (nM) 102 104 Tumor Volume (mm³) Tumor Volume (mm³) 0 Tumor Volume (mm³) A HLX34 exhibits excellent anti-tumor efficacy in vivo MDA-MB-231 CDX Model 2500- 2000- 1500- 1000- 500- 0 10 20 30 40 Days Post Treatment (d) B BxPC-3 CDX model 000- 1500- 1000- 500- 10 20 30 40 Days Post Treatment (d) Melanoma PDX model 2000- 1500- 1000- 500- 0+ 0 10 20 30 Days Post Treatment (d) Vehicle control Payload, 0.24mpk, QW*3 HLX20, 8mpk, QW*3 HLX20-VC-MMAE, 3mpk, QW*3 HLX20-GGFG-Dxd, 3mpk, QW*3 HLX20-GGFG-Dxd, 8mpk, QW*3 HLX43, 3mpk, QW*3 HLX43, 8mpk, QW*3 HLX20, 8mpk, QW*4 HLX20-GGFG-Dxd, 3mpk, QW*4 HLX20-VC-MMAE, 3mpk, QW*4 Payload, 0.24mpk, QW*4 HLX20-GGFG-Dxd, 8mpk, QW*4 -Vehicle control HLX43, 3mpk, QW*4 HLX43, 8mpk, QW*4 -Vehicle control HLX20, 10mpk, QW*4 HLX43, 1.5mpk, QW*4 HLX20-GGFG-Dxd, 3mpk, QW*4 HLX43, 3mpk, QW*4 Payload, 0.24mpk, QW*4 - HLX20-GGFG-Dxd, 10mpk, QW*4 HLX43, 10mpk, QW*4 2 Henlius#31HLX42 (EGFR ADC) Presented Excellent Preclinical Data in ESMO and Was Granted Fast Track Designation by FDA ESMO 2023 FPN: 683P • II. Title Preclinical evaluation of HLX42, a novel EGFR-targeting ADC, for Cetuximab or TKI resistant cancer In vivo efficacy results III. IV. V. In in vivo studies, HLX42 showed potent tumor suppression in several CDX and PDX models that were cetuximab or TKIs resistant As in the HT-29 model, weekly administration of HLX42 at 8 mg/kg for 3 weeks resulted in 90.2% TGI. HLX42 showed better in vivo efficacy and elicited more durable antitumor responses in a head-to-head comparison with conventional ADC technologies VC- MMAE In the NCI-H1993 model, weekly administration of HLX42 at 8 mg/kg for 3 weeks resulted in 91.5% TGI compared to 79.8% TGI when treated with anti-EGFR Ab-GGFG-Dxd In the EBC-1 model, weekly administration of HLX42 at 8 mg/kg for 3 weeks eradicated all lesions; all mice remained tumor free three weeks after the last dose, while tumor began to regrow in the anti-EGFR Ab-VC-MMAE treated group HLX42, combined with a 3rd generation TKI, showed strong synergy in the LU3075 lung cancer PDX model while the model poorly responded to Osimertinib monotherapy In another lung cancer PDX model harboring EGFR exon 19 deletion/T790M/C797S mutations, which exhibited complete resistance to Osimertinib, a single dose of HLX42 1mg/kg treatment resulted in significantly complete response compared with the control group In our pilot toxicity studies conducted in rats and cynomolgus monkeys, HLX42 demonstrated good safety profiles in both species Regulatory and Clinical Trial Progress 31 On Dec. 27, 2023, the US FDA granted Fast Track Designation (FTD) to HLX42 for the treatment of patients with advanced or metastatic EGFR-mutated non-small cell lung cancer whose diseases have progressed on a 3rd-generation EGFR tyrosine kinase inhibitor treatment IND of HLX42 for the treatment of advance/metastatic solid tumors has been approved by China NMPA and the US FDA successively during Oct. to Nov., 2023 On Mar. 14, 2023, the phase I clinical trial of HLX42 for the treatment of advance/metastatic solid tumors has completed the first patient dosing in China Tumor Volume (mm³) B Tumor Volume (mm³) A 4000- 3000- 2000- 1000- HT-29 CDX Model HLX07, 8mpk, QW*3 UI VA 1mink W HLX42, 8mpk, QW*3 10 20 30 40 Days Post Treatment (d) NCI-H1993 CDX Model 2000 1500- 1000- 500- 0- 0 5 10 15 20 25 Days Post Treatment (d) C EBC-1 CDX Model 2500- Tumor Volume (mm³) 2000- 1500- 1000- 500- O 2024 Henlius. 10 20 30 40 50 Days Post Treatment (d)) Tumar Volume (mm) E 800- HLX07, 8mpk, QW*3 HLX07-GGFG-Dxd, 3mpk, QW*3 -HLX07-VC-MMAE, 3mpk, QW*3 Payload, 0.24mpk, QW*3 HLX42, 3mpk, QW*3 HLX07-GGFG-Dxd, 8mpk, QW*3 →HLX42, 8mpk, QW*3 HLX07, 8mpk, QW*3 -Payload,024mpk, QW'3 HLX07-GGFG-Dxd, 3mpk, QW*3 HLX07-GGFG-Dxd, 8mpk, QW*3 HLX07-VC-MMAE, 3mpk, QW*3 HLX42, 3mpk, QW*3 HLX42, 8mpk, QW*3 Tumor Volume (mm³) 600- 400- 200- 1200-1 800- 400- Osimertinib Partial-Response NSCLC PDX model Vehicle control HLX07, 8mpk, OW*4 Osimertinib, 20mpk, QD*28 Osimertinib, 20mpk, QD 28+ HLX42, 1mpk, QW*4 HLX42, 1mpk, QW*4 Osimertinib, 20mpk, QD 28+ HLX42, 3mpk, QW*4 HLX42, 3mpk, QW*4 HLX42, 8mpk, QW*4 20 30 40 Days Post Treatment (d) Osimertinib-resistant NSCLC PDX Model Vehicle control Osimertinib, 10mpk, QD*21 0 3 9 12 15 18 21 Days Post Treatment (d) IgG-Linker-Payload 8mpk, QW*4 HLX42, 1mpk, single dose HLX423mpk, single dose" HLX42,8mpk, single dose 2 Henlius 复宏汉霖#32Three Major Preclinical Platforms Drive Full-Speed Development of Representative Molecules Protein drug discovery and engineering platform to enable innovative therapeutic SINGLE B CULTURE/CLONING PHAGE DISPLAY HA Aga 2 R&D A14T (Al for Therapeutics) to drive innovative drug discovery for oncology, metabolism, immunology and neurology TARGET CORRELATION BIOINFORMATICS Hanjugator™: Modular ADC toolbox and development platform Develop differentiated, clinically valuable ADC products Establish antibody and linker-payload toolbox with independent intellectual property Based on the Deep Data Driven Drug Discovery (5D) platform, integrate medical informatic data to discover new targets, mechanisms and drugs for metabolism, inflammation, and Immune Intervention O Aga 1 Yeast surface YEAST DISPLAY ANTIBODY "LIBRARY" IN-SILICO BASED OPTIMIZATION DEPORT Assessment of CORS Assessment of Whole molecule- BIOCOMPUTING FOR ANTIBODY DISCOVERY HIGH-THROUGHPUT EXPRESSION VALIDATION AND EARLY CMC EVALUATION mAb/Bi/Tri Cytokine HLX6018 (mAb) GARP/TGF-ẞ1 Idiopathic pulmonary fibrosis ⚫ IND accepted in China in Dec. 2023 for indications of IPF 32 Improve safety and therapeutic window Develop tumor microenvironment 1 Conditionally Released Payload- 汉联 Linker (CRPL) platform Hanjugator™ Modular ADC and custom design 3 Increase ADC 4 Enzyme Peptide potency Develop MP-ADC, HC-ADC HLX30 (bisAB) EGFR x c-Met Solid tumors . Balancing cell killing and safety EGFR-mutated NSCLC HLX41 (ADC) LIV1 ADC Solid tumors A14T: Al for therapeutics; MP-ADC: Multiple-Payloads ADC; HC-ADCL: High-Capacity ADC Improve ADC selectivity Develop tumor targeting + 2 payload, and tumor microenvironment Conditionally Activated Antibody (CAAb) platform Expand indication application for ADC Develop new toxic and non-toxic payload Driven by the Biocomputing Accelerated Molecule Design (BAMD) platform, design new drug molecules such as peptides, nucleic acids, and optimize antibodies, small molecule drugs, ADC payload- linkers, etc. Develop innovative drugs for complex diseases through network biology and polypharmacology HLX48 (ADC) EGFR x c-MET ADC Solid tumors HLX80 (ADC) STEAP1 ADC Prostate cancer HLX92 (SMC) Polypharmacology Primary sclerosing cholangitis, Primary biliary cholangitis . • First-in-class small molecule-drug conjugates (SMDC) with polypharmacological function Address unmet clinical needs in PSC and PBC Innovative mAb O 2024 Henlius. Innovative small molecule Innovative BsAb Innovative ADC HLX99 (SMC) Polypharmacology Amyotrophic lateral sclerosis ⚫ First-in-class SMDC with polypharmacological function . Target unmet clinical needs in ALS 2 Henlius#3333 Key data and progress Probability of Survival (% Project information HLX99: "First-In-Class" anti-ALS/PD Drug Candidate Indication Amyotrophic Lateral Sclerosis (ALS); Parkinson's disease (PD) • Entity Patent filed. IND to be approved in China in 2024 H1 MOA Polypharmacology, the molecule has a variety of biological activities including but not limited to modulation of neurotransmitters, inhibition of oxidative stress, regulation of body metabolism, modulation of immune disorders, and modulation of gut microbiota MOA of the Anti-Neurodegenerative Diseases (NDDs) Drug Candidate HLX99 HLX99 Polypharmacological activities 1. HLX99 prolongs the survival of ALS transgenic mice, improves the behavior of this model mice and decreases the neuronal damage marker NFL in blood 100 50 100 Survival Proportions HLX99 Model 110 120 130 Days Time (s) 80 60- 40- 20- Grid Test NC' Model AMX0035 HLX99(334mpk) HLX99(496mpk) pg/mL 2000 1500- 1000- 500- 0- NC Serum NFL Model AMX0035 HLX99(334mpk) HLX99(496mpk) Grip (g) Damage protection Immune modulation Metabolic regulation Microbiota regulation 2. HLX99 ameliorates MPTP-induced decrease in grip strength and loss of dopamine neurons in PD mice 280- 260- 240- 220- 200- 180. *** Sham model L-DOPA HLX99 2024 Henlius. TH Staining in Substantia nigra Neuron damage Metabolic disorders NDDs Neuro- inflammation Bacterial imbalance 3. HLX99 improves fault step rate in 6-OHDA PD model Fault step rate (%) Sham Model 0 HLX99 L-Dopa (334mpk) HLX99 (496mpk) 20- 15- 10. 5 HLX99 Sham Model Itraphylline 2 Henlius#3405 Manufacturing 2 Henlius O 2024 Henlius.#3535 International Leading Capabilities on Manufacturing and Quality Management Xuhui Site 24,000L Songjiang 1st Plant 24,000L Songjiang 2nd Plant 36.0001 +60,000 Manufacturing capacity optimization: The scale of commercial GMP batches has reached a new high ⚫ "Henlius Quality" with international standard: obtained GMP certification from China, the EU and PIC/S members (Indonesia, Brazil) ⚫ Global expansion: Products available in Europe, Australia, South America and Southeast Asia Continuous Improvement Increasing supply of HANQUYOU (Trastuzumab): Over 100 batches in total, manufacturing successful rate > 98% Global GMP standards: completed Pre- License Inspections (PLI) by FDA Improving the laboratory infrastructure: Strengthen downstream and formulation process optimization and scale-up capabilities Aligned Quality & Efficiency O 2024 Henlius. Plant construction for Phase I & II trials: two main manufacturing buildings were completed and accepted; the engineering batch for the 2nd generation process of HANSIZHUANG has completed; PFS production line has been validated, ADC manufacturing workshop has put into use The improved application of stainless steel equipment: Costs reduction by process automation Intelligent Drug Manufacturing 2 Henlius#36Operation Excellence and Continuous Innovation 36 Technical Innovation Reached key milestone of using domestic production consumables and completed commercial scale process validation Achieved the automatic control of cell culture in bioreactor by Raman Spectroscopy Technical Innovation Platform Construction Adopted SCADA system for real- time production monitoring to achieve lean digital production Applied the satellite tank scale- down models: mature in applications such as material screening, process change evaluation, tech transfer etc. Lean Operations Lean Operations 30+ on-going lean operations projects with ~10M RMB expected annualized returns The batch output using the 2nd generation process increased 28% compared with 2022 for HANQUYOU (trastuzumab), the first approved Chinese mAb biosimilar by both China and the EU اس Platform Construction O 2024 Henlius. Supply Chain Excellence Supply Chain Excellence • The direct material cost was 10% lower than that in 2022 • Completed the sustainability process design for supply chain and implemented risk-warning mechanism 2 Henlius#3706 2023 Financial Review 2 Henlius O 2024 Henlius.#382023 Full Year Revenue of RMB 5.39 Billion with 67.8% YoY Revenue (in Billion RMB) 1.68 91.1% 3.21 67.8% 5.39 Product Sales (in Billion RMB) 2023 Revenue Breakdown (in Million RMB) 2023 2022 2023 revenue for illustration % 2023 share % 1.49 79.0% 2.68 70.2% 4.55 50.7% 2737 1731 2021 2022 2023 2021 2022 2023 9.6% 554 519 20.8% 1120 15.6% 1.1% Revenue Growth HANLIKANG (Rituximab, CD20) HANDAYUAN • Revenue of RMB 5.39B in 2023, 67.8% YoY growth • Revenue growth mainly driven by: outperformed sales ramp-up of HANQUYOU and HANSIZHUANG • Gross profit of RMB 3.92B in 2023, 65.3% YoY growth Product Sales • • Product sales of RMB 4.55B in 2023, 70.2% YoY growth • *Sum of sales revenue of HANQUYOU in China and overseas, and drug substance of trastuzumab Product sales growth mainly from: HANQUYOU sales volume open-up with additional capacity released after Songjiang 1st Plant being approved; HANSIZHUANG ES-SCLC 1L treatment was approved • HANQUYOU (Trastuzumab, HER2) (Adalimumab, TNF-α) Revenue Breakdown 2.2% 841 59 51 339 539 119 0 HANSIZHUANG (Serplulimab, PD-1) (Bevacizumab, VEGF) HANBEITAI BD & other income • • HANLIKANG: RMB 519M sales in 2023, -6.4% YoY HANQUYOU: RMB 2.74B sales* in 2023, 58.1% YoY growth HANSIZHUANG: RMB 1.12B sales in 2023, 230.2% YoY growth • HANDAYUAN: RMB 59M sales in 2023, 14.5% YoY growth HANBEITAI: RMB 119M sales in 2023 2024 Henlius. BD and other income: RMB 841M in 2023, 56.0% YoY growth 2 Henlius 38#39Achieved Profitability in 2023 with RMB ~1.05B Operating CF Net profit (net loss): turned into profitability (in Million RMB) Net profit (net loss) margin Net profit (net loss) -58.5% (695) (984) 2021 -21.6% 2022 10.1% 546 2023 R&D related investment (in Million RMB) Cost of Services Provided* Capitalized Expensed 2523 340 2111 1890 126 789 677 740 315 1395 1024 2021 2022 1119 2023 * R&D spending related to out-licensing products accounted into cost of services provided according to accounting practices Net change in cash & cash equivalents: positive OCF (in Million RMB) Expense to revenue ratios: effective controls on expenses Net cash flows used in investing activities Net cash flows from financial activities Net cash flows from (used in) operating activities 1048 858 982 648 144 91 (1359) (1004) 2021 2022 2023 31% 33% 33% 17% 11% 7% (1681) Net change in cash and cash (959) 518 194 equivalents 39 Selling and distribution expenses Administrative expenses 2021 2022 2023 O 2024 Henlius. 61% 43% 21% 5% 3% 2% R&D expenses Finance costs 2 Henlius#40Financial Highlights Financial Data (selected) Revenue Unit In Million RMB 5,394.9 2023 % of revenue In Million RMB 100.0% 3,214.7 2022 YoY Growth % of revenue % 100.0% 67.8% 4,553.5 84.4% 2,675.4 83.2% 70.2% Product sales BD and other revenue 841.4 15.6% 539.4 16.8% 56.0% Cost of sales (1,476.1) (27.4%) (844.6) (26.3%) 74.8% Selling and distribution expenses (1,754.2) (32.5%) (1,049.3) (32.6%) 67.2% Administrative expenses (383.8) (7.1%) (354.0) (11.0%) 8.4% R&D expenses (1,118.7) (20.7%) (1,394.5) (43.4%) (19.8%) Financial costs (110.5) (2.0%) (105.7) (3.3%) 4.6% Net profit (net loss) 546.0 10.1% (695.3) (21.6%) Cash and bank balances 987.7 18.3% 680.5 21.2% 45.1% Net cash flows from operating 1,047.9 19.4% 981.6 30.5% 6.8% activities 2 Henlius 2024 Henlius. 40#4107 2024 Performance Outlook 2 Henlius O 2024 Henlius.#42Our Goals for 2024 42 Revenue: maintain rapid growth in overall revenue by continuously promoting clinical advantage of HANSIZHUANG and HANQUYOU Profitability: improve P&L level, and consolidate profitability from internal operation Cashflow: positive OCF generated for three consecutive years; further strengthen organic growth in 2024 and build strong and health cash flows R&D: advance late-stage pipeline faster, develop early-stage pipeline with differentiation, and introduce multiple modality assets to enter clinical stage Overseas Markets: accelerate HANQUYOU approval in the US and NDA submissions in multiple overseas countries; advance HANSIZHUANG to be marketed in Europe Resource Allocation: optimize resource allocation, and improve return on investment of R&D, manufacturing and commercialization, to assure long-term sustainable growth O 2024 Henlius. 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