Glenmark Pharmaceuticals Limited

rs,

vember 14, 2025 To, Dy. General Manager Department of Corporate Services, BSE Ltd., P. J. Towers, Dalal Street, Fort, Mumbai – 400 001 To, The Manager – Listing, National Stock Exchange of Indi

1.925 billion

ip with AbbVie: A landmark deal Deal Terms Commercials Grant of Rights • Total Deal Value: US$1.925 billion o Upfront Payment: US$700 million o Milestones (Development, Regulatory, Commercial): US$1.225 b

700 million

l Terms Commercials Grant of Rights • Total Deal Value: US$1.925 billion o Upfront Payment: US$700 million o Milestones (Development, Regulatory, Commercial): US$1.225 billion • • Additional Royalties o

1.225 billion

billion o Upfront Payment: US$700 million o Milestones (Development, Regulatory, Commercial): US$1.225 billion • • Additional Royalties on Net Sales: Tiered, Double-Digit Emerging Markets commercialization re

70 million

investment into IGI from Glenmark going forward, enhancing profitability and increasing cash by US$70 million annually • • • Glenmark’s consolidated EBITDA margins to go up to ~23% starting H2 FY26 IGI funded

23%

increasing cash by US$70 million annually • • • Glenmark’s consolidated EBITDA margins to go up to ~23% starting H2 FY26 IGI funded for the next 3 years via ISB 2001 upfront payment Further growth capit

50%

Reserved These initiatives would help achieve high return ratios starting FY26 and beyond ROCE >50% ~20% 20% 22% FY25 FY26e ROE >21% ~18% 18% 13% FY25 FY26e Glenmark Peer Average Estim

20%

ed These initiatives would help achieve high return ratios starting FY26 and beyond ROCE >50% ~20% 20% 22% FY25 FY26e ROE >21% ~18% 18% 13% FY25 FY26e Glenmark Peer Average Estimating

22%

initiatives would help achieve high return ratios starting FY26 and beyond ROCE >50% ~20% 20% 22% FY25 FY26e ROE >21% ~18% 18% 13% FY25 FY26e Glenmark Peer Average Estimating ROCE of 25

21%

chieve high return ratios starting FY26 and beyond ROCE >50% ~20% 20% 22% FY25 FY26e ROE >21% ~18% 18% 13% FY25 FY26e Glenmark Peer Average Estimating ROCE of 25-30% and ROE of 20-25% i

18%

high return ratios starting FY26 and beyond ROCE >50% ~20% 20% 22% FY25 FY26e ROE >21% ~18% 18% 13% FY25 FY26e Glenmark Peer Average Estimating ROCE of 25-30% and ROE of 20-25% in FY27

13%

rn ratios starting FY26 and beyond ROCE >50% ~20% 20% 22% FY25 FY26e ROE >21% ~18% 18% 13% FY25 FY26e Glenmark Peer Average Estimating ROCE of 25-30% and ROE of 20-25% in FY27 Q2 FY26

“All Rights Reserved These initiatives would help achieve high return ratios starting FY26 and beyond ROCE >50% ~20% 20% 22% FY25 FY26e ROE >21% ~18% 18% 13% FY25 FY26e Glenmark Peer Average Estimating ROCE of 25-30% and ROE of 20-25% in FY27 Q2 FY26 Summary Consolidated Revenue • Consolidated Revenue of Rs.”

“All Rights Reserved “Q2 FY26 reflects the steady progress we are making in strengthening Glenmark’s scientific and strategic foundation.”

“In India, GST-related adjustments, given our unique three-tiered distribution model, had a one-time impact on primary sales; however secondary sales continue to outperform IPM, and we expect reported growth to normalize from Q3 onwards.”

“Consolidated Revenue – Q2 FY26 Second Quarter ended September 30 First Quarter ended June 30 Rs Mn FY 2025-26 FY 2024-25 India North America Europe Emerging Markets 1 Total Other Revenue Consolidated Revenue 1,650 44,656 7,460 6,585 60,352 117 60,469 12,817 7,405 6,874 7,041 34,137 201 34,338 YoY Growth (%) -87.1% 503.0% 8.5% -6.5% 76.8% -41.7% 76.1% FY 2025-26 12,399 7,780 6,678 5,721 32,578 66 32,644 QoQ Growth (%) -86.7% 474.0% 11.7% 15.1% 85.3% 76.7% 85.2% 1.”

“All Rights Reserved Q2 FY26 P&L and H2 FY26 Guidance Revenue Estimated amount in INR million Explanation Business revenue 23,769 GST regime change impact on India business IGI revenue of US$525 million IGI and other one-time charges 45,000 -8,300 All one-time charges related to LCDF impairment and expenditures related to facility closure, including regulatory charges; liquidation of R&D inventory; vendor advances; provision for legal expenses/settlements; IP and documentation transfer, etc.”

“Reported Revenue 60,469 Manpower Cost H2 FY26 Guidance Est.”

“All Rights Reserved 1,650 Q2 FY26 Q2 FY25 Q1 FY26 YoY: -43.3% 24,778 14,050 H1 FY26 H1 FY25 North America 10 injectable products launched including Micafungin and Eribulin Leveraging strong capabilities in Injectables and Respiratory 44,656 YoY: 503% QoQ: 474% Revenue (Rs.”

“million) Key Highlights 7,405 7,780  Net of the out-licensing income for the ISB 2001 deal, the core business YoY growth Q2 FY26 Q2 FY25 Q1 FY26 was 7.4% in Q2 FY26  Continued to see uptick in business on the back of partnered product launches  Launched 2 products: Micafungin for Injection USP and Eribulin Mesylate Injection.”

“All Rights Reserved 52,436 YoY: 245% 15,213 H1 FY26 H1 FY25 Europe Robust uptick in new product launches Key Highlights WINLEVI® launched in the UK; received positive opinion from EMA Revenue (Rs.”

“Q2 FY26 Q2 FY25 Q1 FY26 14,138 13,831 YoY: 2.2% 11 ©2023 Glenmark Pharmaceuticals Ltd.”

Notes

1

Notes

1. 2. 3. 4. The above provisions are basis current estimates of future assets and liabilities; these could be reversed in case of better realizations in subsequent quarters ROCE = Operating profit / Capital Employed; Capital Employed = Avg. Net worth + Gross Debt ROE = Net profit / Avg. Net worth Peer average - Based on consensus estimates of select listed pharmaceutical companies with a similar business model and geographical presence 5 ©2023 Glenmark Pharmaceuticals Ltd. All Rights Reserved These initiatives would help achieve high return ratios starting FY26 and beyond ROCE >50% ~20% 20% 22% FY25 FY26e ROE >21% ~18% 18% 13% FY25 FY26e Glenmark Peer Average Estimating ROCE of 25-30% and ROE of 20-25% in FY27 Q2 FY26 Summary Consolidated Revenue • Consolidated Revenue of Rs. 60,469 Mn • YoY growth of 76.1% Regional Highlights • US core business growth of 7.4% • EU business growth of 8.5% • India business impacted due to GST regime change Profitability • EBITDA at Rs. 23,596 Mn • EBITD