RESULTS PRESENTATION OCTOBER 31, 2025 DISCLAIMER This presentation contains forward-looking statements that involve risks and uncertainties. These statements are generally indicated by the use of forward–looking terminology such as "believe", "expect", "anticipate", "estimate", "plan", "project", "target", "may", "will" or other similar words that express an indication of actions or results of actions that may or are expected to occur in the future. You should not place undue reliance on these forward-looki ...

Financial Performance - Underlying profit before tax increased by 9% year-over-year at constant currency, driven by a 5% growth in operating income[4] - Wealth Solutions achieved a record quarter, with income up 27% year-over-year at constant currency, supported by strong performance in Investment Products[4] - Global Banking income rose by 23% year-over-year at constant currency, supported by strong origination and distribution volumes[4] - The company is upgrading its 2025 income growth guidance to be towards the upper end of the 5-7% range[4] - The company now expects to deliver an underlying Return on Tangible Equity (RoTE) of around 13% in 2025, exceeding previous guidance and accelerating delivery by a year[4] Key Metrics - Underlying RoTE was 13.4%, up 260 basis points year-over-year[7] - The income-to-cost jaws were positive at 1%[8] - The CET1 ratio was 14.2%, down 18 basis points quarter-over-quarter[9] - Tangible Net Asset Value (TNAV) per share was 1,684 cents, up 4 cents quarter-over-quarter[10] Expenses and Credit Quality - Operating expenses increased by 4% year-over-year at constant currency, driven by targeted business investments[11] - Credit impairment was $195 million[6] - The loan-loss rate was 24 basis points in the quarter[20]

Q3 2025 Financial Performance - Revenue reached US$468 million, showing a 7.6% QoQ increase and a 9.5% YoY increase[19] - Bookings amounted to US$462.5 million, a decrease of 3.5% QoQ but an increase of 14.2% YoY[19] - Backlog stood at US$867.7 million, down 1.4% QoQ but up 7.9% YoY[19] - Adjusted Gross Margin was 37.7%, a decrease of 203bps QoQ and 330bps YoY[19] - Adjusted Operating Profit was HK$124.4 million, down 26.6% QoQ and 30.3% YoY[19] - Adjusted Net Profit was HK$101.9 million, down 24.4% QoQ but up 245.2% YoY[19] - Adjusted Basic EPS was HK$0.24, down 25.0% QoQ but up 200.0% YoY[19] Segment Performance - Semiconductor Solutions Adjusted Gross Margin was 41.3%[24] and Adjusted Segment Profit was HK$83 million[24] - SMT Solutions Gross Margin was 33.9%[31] and Segment Profit was HK$163 million[31] Q4 2025 Guidance and Outlook - Q4 2025 Revenue Guidance is projected to be between US$470 million and US$530 million, representing a 6.8% QoQ increase and a 14.3% YoY increase at the mid-point of the guidance[35]

Financial Performance - The company's revenue for the first three quarters of 2025 reached $20477 million, an increase of 8.5% year-over-year[12] - EBITDA for the first three quarters of 2025 was $2496 million, up 10.7% compared to the same period in 2024[12] - Operating profit for the first three quarters of 2025 amounted to $1926 million, representing a 7.3% increase year-over-year[12] - Profit attributable to owners of the company for the first three quarters of 2025 was $1168 million, an 8.0% increase compared to the first three quarters of 2024[12] - Basic earnings per share for the first three quarters of 2025 were $0.091, an 8.0% increase year-over-year[12] Operational Data - Packaged meat sales volume for the first three quarters of 2025 was 2231 thousand metric tons, a decrease of 2.2% year-over-year[11] - Pork sales volume for the first three quarters of 2025 was 2967 thousand metric tons, an increase of 8.4% year-over-year[11] - The number of slaughtered hogs in China increased by 1.8% to 530 million heads in the first three quarters of 2025[25] - The number of slaughtered hogs in the U.S decreased by 1.3% to 81.7 million heads in Jan-Aug 2025[25] Market Overview - In the first three quarters of 2025, the average hog price in China was RMB 15.1 per kg, a decrease of 10.7% year-over-year[25] - In the U.S, the average hog price was $1.60 per kg, up 13.2% year-over-year[25]

Financial Performance - The consolidated profit attributable to owners of the Company for 9M25 increased by 13.2% to HK$4,067 million[2, 10] - Revenue for 9M25 increased by 1.3% to HK$14,281 million[10] - Net finance costs from continuing operations decreased by HK$295 million to HK$263 million[2] - Net gain arising from fair value adjustments for investment properties from continuing operations was HK$1 million (9M24: net loss of HK$73 million)[2] - Interim dividend increased by 11.2% to HK$0.2666 per share[10] Segment Results (Water Resources) - Dongjiang (East River) Water Supply Concession revenue and profit before tax (excluding net exchange differences and net finance costs) for 9M25 amounted to HK$5,242 million and HK$3,596 million respectively[18] - Other Water Projects revenue and profit before tax excluding net exchange differences and net finance costs for 9M25 amounted to HK$5,611 million and HK$1,601 million respectively[23] - The total designed water supply capacity of the Group's Other Water Resources Projects as at 30 September 2025 are 16.60 million tons per day[21] - The total waste water processing capacity of the Group's Other Water Resources Projects as at 30 September 2025 are 3.09 million tons per day[21] Segment Results (Property Investment & Department Store Operation) - GDH Teem's Property Investment Business Revenue for 9M25 was HK$767 million[31] - Department Store Operation Revenue for 9M25 was HK$582 million[34] Segment Results (Hotel Operations and Management) - Total hotels operated as at 30 September 2025: 7 hotels[37]

Financial Performance - Revenue from Continuing Operations increased by 22.5% YoY, reaching RMB 32.86 billion[13,14] - Adjusted Non-IFRS Net Profit increased by 43.4% YoY, reaching RMB 10.54 billion[13,14] - Backlog for Continuing Operations increased by 41.2% YoY as of September 30, 2025[15,16] - Q1-Q3 2025 Operating Cash Flow Up 35.0% YoY to 10.87 Billion[46] Segment Performance - WuXi Chemistry Q1-Q3 revenue up 29.3% YoY to RMB 25.98 billion[25] - WuXi Chemistry Q1-Q3 adjusted non-IFRS GPM steadily improved 5.8pts YoY to 51.3%[25] - TIDES revenue grew 121.1% YoY to RMB 7.84 billion[22,25] - WuXi Biology Q1-Q3 revenue up 6.6% YoY to RMB 1.95 billion[34,35] Company Outlook - Continuing Operations revenue expects to resume double-digit growth in 2025, with its YoY growth rate raised to 17-18%, targeting full-year total revenue of RMB43.5-44.0 billion[52] - Capex for 2025 is expected to reach RMB5.5-6.0 billion[52]

Financial Performance Highlights - Revenue increased by 2.5% to €887 million in 9M'25 compared to €865 million in 9M'24 [8, 45] - Order intake increased sharply by 4.6% to €771 million in 9M'25 from €737 million in 9M'24 [8, 33] - Adjusted EBITDA increased by 2.5% to €142 million in 9M'25 compared to €138 million in 9M'24, with a stable EBITDA margin of 16.0% [10, 48] - Net backlog increased by 1.9% year-over-year and 4.5% compared to June 30, 2025, reaching €795 million [9, 29] - Net profit decreased slightly by 1.9% to €61 million in 9M'25 from €62 million in 9M'24 [47] Order Intake Dynamics - Order intake in Q3'25 increased by 36% year-over-year, driven by the European boat show season, reaching approximately €304 million [29, 35] - Made-to-measure yachts accounted for 55% of total order intake in 9M'25, showing a significant increase of 31.9% year-over-year [37, 56] - Order intake from Europe increased significantly by 32.3% in 9M'25 compared to 9M'24 and 89% in Q3'25 compared to Q3'24 [41, 43] Business Operations - The company launched 3 new products in Q3'25, including 2 range expansions and 1 range update [18] - Capex for 9M'25 was approximately €64 million, and the full-year 2025 capex is expected to be below €90 million [50, 56] - Negotiations for potential orders are up 48% year-over-year, reaching approximately €430 million, providing solid visibility ahead of the USA Boat Show season [35, 58] Market Outlook and Guidance - The company confirmed its 2025 annual guidance, with net revenue expected to be between €1,220 million and €1,240 million and adjusted EBITDA between €201 million and €207 million [59]

Financial Performance - Net Revenues reached €4.1 billion, showing a +9% increase at constant exchange rates, marking 19 consecutive quarters of growth[13] - Retail sales experienced a +9% growth, driven by like-for-like, full-price sales across all regions[11, 13] - Miu Miu demonstrated strong performance with +41% growth over the nine-month period[13] - Prada brand retail sales decreased by -2% over the 9-month period[13] Channel Performance - Retail channel accounted for 90% of net revenues, totaling €3,647 million, a +9% increase[21] - Wholesale channel contributed 8% of net revenues, amounting to €322 million, a +4% increase[21] - Royalties represented 2% of net revenues, reaching €101 million, an +11% increase[21] Regional Performance - Asia Pacific retail sales grew by +10%, reaching €1,216 million, representing 33% of total retail sales[27, 28] - Europe retail sales increased by +6%, totaling €1,137 million, accounting for 31% of total retail sales[27, 28] - Americas retail sales showed a +15% increase, reaching €637 million, representing 17% of total retail sales[27, 28]

Financial Performance - Revenue decreased by 5.8% YoY to RMB 12.30 billion[16, 20] - Gross profit margin slightly decreased by 0.1 percentage points YoY to 41.0%[16] - Profit attributable to equity holders decreased by 9.7% YoY, with profit margin declining by 0.3 percentage points to 6.4%[16] - Total SG&A expense ratio slightly increased by 0.1 percentage points YoY, while total SG&A expense decreased by 5.5% YoY[16, 29] - Interim dividend payout ratio was 102.2%, with cumulative dividends distribution of RMB 14.64 billion since listed in 2019, and an aggregate payout ratio of 107.3%[16] Operational Efficiency - Offline same-store traffic decreased by double-digit YoY, while online retail sales registered double-digit growth YoY[16] - Number of employees decreased by 16.1% YoY to 24,273[29] - Total rental expense decreased by 12.1% YoY, with rental expense ratio decreased by 0.8 percentage points[29] - Capital expenditure decreased by 36.0% YoY[50] Cash Flow and Capital - Net cash generated from operating activities was RMB 1.35 billion, 1.7 times of net profit[16] - Cash and cash equivalents of RMB 2.54 billion and net cash position of RMB 1.27 billion[16] - Free cash flow was RMB 1.22 billion, representing 34% of beginning cash balance[38] Retail Network - Number of directly-operated retail stores decreased by 19.4% YoY to 4,688 stores[50]

Innovent's Strategic Goals - Innovent aims to become a Global Premier Biopharma by 2027 and China's Top Biopharma by 2030[8] - The company plans to have ≥5 pipeline assets in global MRCT Phase 3 by 2030[8, 10] Takeda Collaboration - Innovent and Takeda have a strategic collaboration with a total deal size of up to $114 billion[20] - The collaboration includes $11 billion in cash upfront at a 20% premium and $100 million in equity investment[26] - Milestone payments could reach up to $102 billion[26] Takeda's Global Presence - Takeda has approximately 50000 employees and a presence in approximately 80 countries & regions[28] - Takeda's FY24 revenue was approximately $306 billion, with 44% from the U S, 29% from Europe & Canada, 12% from Japan, and 4% from China[28] Pipeline Development - IBI363 (PD-1/IL-2 α-bias) and IBI343 (CLDN182 ADC) are in global Phase 3 development[11, 40] - IBI3001 (EGFR/B7H3 ADC) is in global Phase 1 development[11, 40] IBI363 Clinical Data - IBI363 has shown promising ORR (Objective Response Rate) and mPFS (median Progression-Free Survival) in IO-resistant sqNSCLC, MSS colorectal cancer, and melanoma[50] - Over 1200 patients have been treated with IBI363 across multiple solid tumors[48] IBI343 Clinical Data - IBI343 has demonstrated clinical benefits in PDAC (Pancreatic Ductal Adenocarcinoma) and GC (Gastric Cancer), with lower GI toxicity AEs[62, 66] - In CLDN182+ GC, IBI343 showed significantly prolonged OS (Overall Survival) benefit compared to SoC (Standard of Care)[66]