Investor Presentaiton

Japan: Duvroq has achieved market-leading share Encouraging launch despite being second to market Leading market share Translating success in Japan to global expansion Strong momentum across populations • gsk 75% of patients switching from ESA to Duvroq JP¥ 3,000 2,500 2,000 1,500 1,000 500 0 100% 80% 60% 40% . 25% new to treatment 46.8% 30.7% • Rx to patients in both DD (40%) and NDD (60%) Early engagement enabled smooth commercial transition • . Started early conversations with US commercial providers and large dialysis centers Encouraged by positive initial feedback and intent to include PHIs in treatment paradigm Will continue dialogue as we move closer to filing 20% 25W · Μεε 41W- 49W- 57W 65W- 73W 81W- M68 97W- 105W- 113W 0% 20.1% Jul-20 Duvroq Competitor 3 Oct-20 Competitor 1 Jan-21 ⚫ Competitor 2 Apr-21 Jul-21 Competitor 4 Competitor 1 Competitor 2 Duvroq (dapro) Source: IQVIA JPM Monthly model, September flash data from IQVIA JPM flash. Source: IQVIA JPM Monthly model, September flash data from IQVIA JPM flash. 23

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