Stronger every semester - From differentiated innovation to outstanding delivery

As we pass the midpoint of 2025, I am pleased to share that UCB continues to advance with strength and clarity of purpose. In the first half of the year, our revenues increased to €3.49 billion, and our five growth medicines generated more than €1.3 billion in combined net sales, multiplying their performance compared to the same period last year by two and a half times. Underlying profitability (adjusted EBITDA) also progressed reaching 29.6 percent of revenue.

These results reflect the continued execution of our science-driven strategy, supported by positive outcomes in two Phase 2 studies and one Phase 3 study. With a late-stage Phase 3 clinical success rate of 86 percent, well above the industry average, we are confident in our pipeline and potential.

As a result, we have raised our financial guidance for the full year, expecting revenue to achieve at least €7 billion and adjusted EBITDA to reach at least 30 percent of revenue.

Alongside strong performance, we are making forward-looking investments to support future growth. One of the most significant is our $5 billion economic value investment in a new biomanufacturing site in the United States, a key step to expand our capacity and ensure long-term supply resilience for patients in the U.S.

We continue to grow responsibly. In the first half of the year, UCB was again ranked the number one biotech company in the Sustainalytics ESG Risk Rating. We received an “A” score from CDP for supplier engagement and were named one of the World’s Most Sustainable Companies of 2025 by TIME and Statista: #129 globally and #2 in Belgium. These recognitions are the result of consistent effort across the company and reflect the values we carry forward in everything we do.

I am pleased to see we are reaching more and more patients with our differentiated medicines offering them the ability to live the life they want. I would like to thank all those who make this possible: our colleagues, partners, and the communities we live and work in. The Investor Relations' team, deeply values the trust and dialogue we share with the investment community. We look forward to the second half of the year with confidence and ambition, staying focused on delivering today and shaping tomorrow.

Wishing you a restful and reenergizing summer. If you like to reach out – you know where to find us.

Antje, Diyana, Laure and Sahar