REGENERON $REGN Q3’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $5.1B (Est. $4.54B) 🟢; +36% YoY 🔹 Adj. EPS: $20.07 (Est. $16.24) 🟢; +70% YoY 🔹 Dupixent Global Net Sales: $6.5B; +35% YoY 🔹 EYLEA HD U.S. Net Sales: $699M; +62% YoY FY26 Guide: 🔹 Non-GAAP R&D: $6.05B-$6.15B; from $5.95B-$6.05B 🔹 Non-GAAP SG&A: $2.4B-$2.5B; from $2.5B-$2.6B 🔹 Non-GAAP Gross Margin: 86%; from 84%-85% 🔹 Capital Expenditures: $1.05B-$1.10B; from $1.03B-$1.10B Product Net Sales: 🔹 Dupixent (Global): $6.5B; +35% YoY 🔹 EYLEA HD - U.S.: $699M; +62% YoY 🔹 EYLEA - U.S.: $400M; -41% YoY 🔹 Libtayo - Global: $550M; +51% YoY 🔹 Sanofi Collab. Revenue: $2.72B; +68% YoY Other Q3 Metrics: 🔹 Non-GAAP Gross Margin: 86%; flat YoY 🔹 Non-GAAP ETR: 15%; +190 bps YoY Capital Return: 🔹 Buybacks: $2.3B 🔹 Remaining Authorization: $2.2B 🔹 Dividend: $0.94/share Key Updates: 🔹 Sanofi Collaboration: $1.0B up-front; up to $7.0B in future milestones 🔹 Pasatru: FDA approved for FOP Comments: 🔸 “This was an outstanding quarter for Regeneron, with Dupixent, EYLEA HD, and Libtayo each achieving record net sales” 🔸 “Finally, we expanded our alliance with Sanofi to include four Regeneron-invented, next-generation, long-acting antibodies designed to build on the success of Dupixent.”