TUESDAY, FEBRUARY 10, 2026 Fourth Quarter & Fiscal Year 2025 Financial Results Nasdaq: EXEL Today's Agenda Introduction Business Update & Highlights Financial Results & Guidance Commercial Update Research & Development Update Andrew Peters SVP, Strategy and Investor Relations Michael M. Morrissey, Ph.D. President and CEO Chris Senner EVP and CFO PJ Haley EVP, Commercial Dana T. Aftab, Ph.D. EVP, Research and Development All Participants 2 Q&A Forward-Looking Statements This presentation, including any oral ...

Core Insights - AstraZeneca has announced the acquisition of Modella AI to enhance its AI-driven oncology research and development on a global scale [1] Company Summary - The acquisition aims to leverage Modella AI's technology to accelerate the development of innovative cancer therapies [1] - AstraZeneca is focusing on integrating advanced artificial intelligence capabilities into its oncology pipeline to improve research efficiency and outcomes [1] Industry Summary - The move reflects a growing trend in the pharmaceutical industry towards the adoption of AI technologies to streamline drug discovery and development processes [1] - This acquisition positions AstraZeneca as a leader in the integration of AI within oncology, potentially setting a benchmark for competitors in the industry [1]

J.P. MORGAN 2026 HEALTHCARE CONFERENCE JANUARY 12, 2026 Building Next-Generation Oncology Franchises Michael M. Morrissey, Ph.D. President and CEO Safe Harbor Statement This presentation, including any oral presentation accompanying it, contains forward-looking statements, including, without limitation, statements related to: Exelixis' strategy to build franchises in key solid tumors; Exelixis' goal to become a leader in oncology R&D and a top 5 solid tumor oncology company, with multiple blockbuster produc ...

Strategy and Vision - Exelixis aims to become a top 5 solid tumor oncology company by building next-generation oncology franchises across products, modalities, and tumors[8, 12] - The company plans to maintain focus on solid tumors and select modalities to maximize R&D productivity and build product, modality, and tumor franchises[13] - Exelixis anticipates sustained revenue growth through 2031 and beyond by establishing, expanding, and entrenching leadership in key tumors[5, 13] Financial Performance and Growth - Net product revenues are projected to grow from $1.63 billion in FY 2023 to approximately $2.10-$2.15 billion in FY 2025[9] - The 3L+ mCRC market is approaching $1.5 billion in 2026, representing a significant opportunity for zanzalintinib[102] - The CRC market is expected to grow from approximately $3.4 billion in 2024 to $7 billion in 2035, with a compound annual growth rate (CAGR) of 6.6%[123] Pipeline Development and Clinical Trials - Zanzalintinib's phase 3 trial (STELLAR-303) met its primary endpoint, supporting its first NDA filing[9] - Multiple zanzalintinib pivotal trials have been initiated or are planned, including two phase 3 studies in RCC in collaboration with Merck[5, 9] - STELLAR-303 trial data showed median OS of 10.9 months for Zanzalintinib + Atezolizumab arm vs 9.4 months for Regorafenib arm, with HR of 0.80 (95% CI, 0.69–0.93); P=0.0045[93] Key Product Candidates and Franchises - The company is focusing on RCC, neuroendocrine, and CRC franchises as core to its portfolio strategy[24] - XB628, a novel NKG2A x PD-L1 bispecific antibody, is in Phase 1 clinical trials with potential in IO sensitive and insensitive tumors[10, 65] - XL557, an oral SSTR2 agonist, has the potential to broadly displace SSAs in NET, with branded SSAs generating approximately $1.1 billion in U.S sales in 2024[10, 140]