Regeneron Corporate Presentation AU AUGUST 2025

Regeneron Corporate Presentation AU AUGUST 2025

• 1. Regeneron Corporate Presentation A U G U S T 2 0 2 5 This non-promotional presentation contains investigational data as well as forward-looking statements; actual results may vary materially.

• 2. 2 Note regarding forward-looking statements and non-GAAP financial measures This presentation includes forward-looking statements that involve risks and uncertainties relating to future events and the future performance of Regeneron Pharmaceuticals, Inc. ("Regeneron" or the "Company"), and actual events or results may differ materially from these forward-looking statements. Words such as "anticipate," "expect," "intend," "plan," "believe," "seek," "estimate," variations of such words, and similar expressions are intended to identify such forwardlooking statements, although not all forward-looking statements contain these identifying words. These statements concern, and these risks and uncertainties include, among others, competing drugs and product candidates that may be superior to, or more cost effective than, products marketed or otherwise commercialized by Regeneron and/or its collaborators or licensees (collectively, "Regeneron's Products") and product candidates being developed by Regeneron and/or its collaborators or licensees (collectively, "Regeneron's Product Candidates") (including biosimilar versions of Regeneron's Products); uncertainty of the utilization, market acceptance, and commercial success of Regeneron's Products and Regeneron's Product Candidates and the impact of studies (whether conducted by Regeneron or others and whether mandated or voluntary) or recommendations and guidelines from governmental authorities and other third parties or other factors beyond Regeneron's control on the commercial success of Regeneron's Products and Regeneron's Product Candidates; the nature, timing, and possible success and therapeutic applications of Regeneron's Products and Regeneron's Product Candidates and research and clinical programs now underway or planned, including without limitation EYLEA HD® (aflibercept) Injection 8 mg, EYLEA® (aflibercept) Injection, Dupixent® (dupilumab), Libtayo® (cemiplimab), Praluent® (alirocumab), Kevzara® (sarilumab), Evkeeza® (evinacumab), Veopoz® (pozelimab), Ordspono (odronextamab), Lynozyfic (linvoseltamab), other clinical programs discussed in this presentation, Regeneron's and its collaborators' earlier-stage programs, and the use of human genetics in Regeneron's research programs; the likelihood and timing of achieving any of the anticipated milestones discussed or referenced in this presentation; safety issues resulting from the administration of Regeneron's Products and Regeneron's Product Candidates in patients, including serious complications or side effects in connection with the use of Regeneron's Products and Regeneron's Product Candidates in clinical trials; the likelihood, timing, and scope of possible regulatory approval and commercial launch of Regeneron's Product Candidates and new indications for Regeneron's Products, such as those listed above; the extent to which the results from the research and development programs conducted by Regeneron and/or its collaborators may be replicated in other studies and/or lead to advancement of product candidates to clinical trials, therapeutic applications, or regulatory approval; ongoing regulatory obligations and oversight impacting Regeneron's Products, research and clinical programs, and business, including those relating to patient privacy; determinations by regulatory and administrative governmental authorities which may delay or restrict Regeneron's ability to continue to develop or commercialize Regeneron's Products and Regeneron's Product Candidates; Regeneron's ability to manufacture and manage supply chains for multiple products and product candidates and risks associated with tariffs and other trade restrictions; the ability of Regeneron's collaborators, suppliers, or other third parties (as applicable) to perform manufacturing, filling, finishing, packaging, labeling, distribution, and other steps related to Regeneron's Products and Regeneron's Product Candidates; the availability and extent of reimbursement or copay assistance for Regeneron's Products from thirdparty payors and other third parties, including private payor healthcare and insurance programs, health maintenance organizations, pharmacy benefit management companies, and government programs such as Medicare and Medicaid; coverage and reimbursement determinations by such payors and other third parties and new policies and procedures adopted by such payors and other third parties; changes in laws, regulations, and policies affecting the healthcare industry; unanticipated expenses; the costs of developing, producing, and selling products; Regeneron's ability to meet any of its financial projections or guidance and changes to the assumptions underlying those projections or guidance; Regeneron's estimates of market opportunities for Regeneron's Products and Regeneron's Product Candidates; the potential for any license or collaboration agreement, including Regeneron's agreements with Sanofi and Bayer (or their respective affiliated companies, as applicable), to be cancelled or terminated; the impact of public health outbreaks, epidemics, or pandemics on Regeneron's business; and risks associated with litigation and other proceedings and government investigations relating to the Company and/or its operations (including the pending civil proceedings initiated or joined by the U.S. Department of Justice and the U.S. Attorney's Office for the District of Massachusetts), risks associated with intellectual property of other parties and pending or future litigation relating thereto (including without limitation the patent litigation and other related proceedings relating to EYLEA), the ultimate outcome of any such proceedings and investigations, and the impact any of the foregoing may have on Regeneron’s business, prospects, operating results, and financial condition. A more complete description of these and other material risks can be found in Regeneron's filings with the U.S. Securities and Exchange Commission. Any forward-looking statements are made based on management's current beliefs and judgment, and the reader is cautioned not to rely on any forward-looking statements made by Regeneron. Regeneron does not undertake any obligation to update (publicly or otherwise) any forward-looking statement, including without limitation any financial projection or guidance, whether as a result of new information, future events, or otherwise. This presentation includes or references non-GAAP net income per diluted share and net product sales growth on a constant currency basis for certain of Regeneron’s Products, which are financial measures that are not calculated in accordance with U.S. Generally Accepted Accounting Principles ("GAAP"). These and other non-GAAP financial measures are computed by excluding certain non-cash and/or other items from the related GAAP financial measure. The Company also includes a non-GAAP adjustment for the estimated income tax effect of reconciling items. The Company makes such adjustments for items the Company does not view as useful in evaluating its operating performance. Management uses this and other non-GAAP measures for planning, budgeting, forecasting, assessing historical performance, and making financial and operational decisions, and also provides forecasts to investors on this basis. Additionally, such non-GAAP measures provide investors with an enhanced understanding of the financial performance of the Company's core business operations. However, there are limitations in the use of such non-GAAP financial measures as they exclude certain expenses that are recurring in nature. Furthermore, the Company's non-GAAP financial measures may not be comparable with non-GAAP information provided by other companies. Any non-GAAP financial measure presented by Regeneron should be considered supplemental to, and not a substitute for, measures of financial performance prepared in accordance with GAAP. A reconciliation of the non-GAAP financial measures used in this presentation is provided on slide 36.

• 3. Differentiated technology platforms have delivered 4 ‘blockbuster’ products discovered by Regeneron Unprecedented research and discovery capabilities drive best-in-class pipeline of ~45 product candidates — Includes near-term opportunities with potential to address therapeutic categories expected to exceed an aggregate of $220 billion in 2030 — Regeneron Genetics Center® has created the world’s largest DNA sequence-linked healthcare database to improve drug discovery and development as well as healthcare analytics and management Strong financial position and balanced approach to capital allocation, prioritizing internal R&D investment, returning capital to shareholders through share repurchases and dividends, while also pursuing complementary business development 3 Driven by science and innovation Note: Definitions for all acronyms and abbreviations in this presentation can be found on slide 37.

• 4. 4 Q2 2025 Financial Performance and Pipeline Developments *See reconciliation of non-GAAP measure on slide 36. Notable R&D PipelineAdvancements • Libtayo Adjuvant CSCC sBLA accepted for Priority Review by FDA (PDUFA October 2025); data presented at ASCO and simultaneously published in NEJM • Lynozyfic approved in the U.S. and Europe for R/R multiple myeloma; added to NCCN treatment guidelines • Announced interim 26-week results for Phase 2 COURAGE study investigating semaglutide in combination with trevogrumab with and without garetosmab; final 26-week safety and efficacy data was consistent with the interim analysis and will be presented at EASD in September • Initiated first Phase 3 study for Factor XI (REGN7508) in VTE prevention after total knee replacement surgery; additional Phase 3 studies planned • In-licensed olatorepatide/HS-20094 (dual GLP-1/GIP receptor agonist) to evaluate as a monotherapy and study combinations to address muscle loss and other comorbidities of obesity • Approved for BP in the U.S.; regulatory applications under review in EU and Japan • Approved in the U.S. for CSU patients who remain symptomatic despite antihistamine treatment 2Q25 Total Revenues $3.68B 2Q25 Non-GAAP EPS* $12.89 This slide contains investigational drug candidates and indications that have not been approved by any regulatory authority. • Extended dosing intervals up to Q24W approved in EC

• 5. 5 Continued growth and expansion in multiple Type 2 indications 2Q 2025 Dupixent global net sales of $4.3B (+21% YoY*) *Constant currency growth This slide contains investigational indications for dupilumab that have not been approved by any regulatory authority. Approved in EIGHT indications globally Chronic spontaneous urticaria (CSU) approved in U.S. in April 2025 Bullous pemphigoid (BP) approved in U.S. in June 2025 ~1.2 million patients on therapy globally Driving growth through increased penetration in established indications and launches in new indications Dupixent global net product sales, in $ Millions U.S. Int’l $2,610 $2,825 $2,746 $2,629 $3,205 $946 $993 $952 $1,036 $1,140 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Sanofi records global net product sales of Dupixent +21%*

• 6. 6 COPD launch underway in U.S. Dupixent approved by FDA in late September 2024 as an add-on maintenance treatment of adult patients with inadequately controlled COPD and an eosinophilic phenotype • Potential to address ~300,000 patients in the U.S. • Top commercial and Medicare payors authorized Dupixent coverage within first 90 days of approval • 2025 Global initiative for Chronic Obstructive Lung Disease (GOLD) guidelines include Dupixent as the only biologic recommended as treatment for certain COPD patients who continue to experience exacerbations after optimized inhaled therapy • Launch efforts (including DTC campaign) focused on increasing awareness of Type 2 inflammation in COPD among physicians and patients to drive launch momentum Dupixent Cumulative NBRx by Indication Weekly launch-aligned cumulative NBRx by indication COPD AD Indication 1 Indication 2 Indication 3 Indication 4 Indication 5 Indication 6 Data Source IQVIA Weekly NSOB

• 7. 7 Full reimbursement of Sanofi development balance anticipated in 2026; Expected to drive significant growth in collaboration revenue & cash flow • The ‘development balance’ represents development costs funded by Sanofi under the companies’ antibody collaboration for certain antibodies, including Dupixent, Kevzara and itepekimab, for which Regeneron is required to pay 50% • Reimbursement of the balance is primarily recorded as a reduction to Regeneron’s share of antibody profits within Sanofi Collaboration Revenue • In Q2 2025, development balance reduced by ~$250 million • Balance anticipated to be fully reimbursed by the end of 2026 • Development Balance as of 6/30/25: ~$1.2 billion Reimbursement Obligation to Sanofi (‘Antibody Development Balance’), in $ Billions $3.0 $3.1 $3.2 $2.9 $2.3 $1.6 $1.2 ~$0.8 $0.0 YE 2019 YE 2020 YE 2021 YE 2022 YE 2023 YE 2024 6/30/2025 YE 2025E YE 2026E Agreement restructured in 2022 as part of the acquisition of exclusive global rights to Libtayo; previously growing balance began to decline following close of the transaction Reimbursement expected to average ~$800 million per year in (July 1, 2022) 2025 and 2026; upon full reimbursement of the balance, Regeneron’s share of antibody profits will immediately inflect, leading to a significant increase in collaboration revenue and cash flow

• 8. 8 Delivering on Dupixent’s “pipeline in a product” potential Dupixent clinical trials have repeatedly demonstrated that IL-4 and IL-13 are key drivers of multiple Type 2 inflammatory diseases Select programs depicted This slide contains investigational indications for dupilumab that have not been approved by any regulatory authority. Under regulatory review Investigational indications Approved by FDA and/or EC CSU approved in U.S. in April 2025 BP approved in U.S. in June 2025 Atopic Dermatitis Infant 6 mo-5Y COPD Adults 18+ Today EoE Adults/ Adolescents 12+ Prurigo Nodularis Adults 18+ EoE Ped 1-11 CSU Adults/Adolescents 12+ CPUO Adults 18+ CSU Ped 2-11 Asthma Ped 2-5 Prurigo Nodularis Ped 6m-17 Atopic Dermatitis Adults 18+ Asthma Adults/Adolescents 12+ Atopic Dermatitis Adolescent 12+ CRSwNP Adults 18+ Atopic Dermatitis Ped 6-11 Asthma Ped 6-11 U.S: 2022 | EU: 2023 U.S: 2021 | EU: 2022 U.S: 2022 | EU: 2023 U.S. & EU: 2022 U.S. & EU: 2020U.S. & EU: 2019U.S. & EU: 2019 U.S: 2018 | EU: 2019 U.S. & EU: 2017 U.S. & EU: 2024 BP Adults 18+ U.S. & EU: 2024 U.S. 2024 CRSwNP Adolescents 12+ Lichen Simplex Chronicus Adults 18+ U.S.: 2025 U.S.: 2025

• 9. $1,231 $1,145 $1,190 $736 $754 $304 $392 $305 $307 $393 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 9 EYLEA HD + EYLEA in the U.S. EYLEA HD + EYLEA remain the U.S. branded anti-VEGF category leader U.S. Net Product Sales, in $ Millions Goal to establish EYLEA HD as new standard of care for retinal diseases • Q2 2025 U.S. net product sales of $393M comprised 34% of Q2 2025 aggregate EYLEA + EYLEA HD U.S. net product sales • Net sales driven by increasing demand (+16% q/q, +49% y/y) • Potential product enhancements expected to accelerate growth EYLEA remains #1 branded anti-VEGF treatment for retinal diseases • Q2 2025 U.S. net product sales of $754M • Continued impact of patient affordability constraints and increased competition in Q2 2025 EYLEA HD EYLEA *Combined EYLEA + EYLEA HD share of branded anti-VEGF category (excludes bevacizumab & biosimilar agents); Projected Vestrum Category (Injection) Share – Q2’25 Update. July 2025. ~61% branded category share for EYLEA HD and EYLEA in Q2 2025*

• 10. Strong and consistent growth • Q2 2025 WW net sales of $377M (+25% YoY*) • U.S. net sales of $248M (+36% YoY), including ~$20M benefit due to timing of customer shipments • Expanding global commercial footprint $182M $195M $251M $193M $248M $115M $94M $116M $93M $129M Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 10 Key growth driver and foundational to oncology portfolio LIBTAYO has become Regeneron’s latest internally-discovered drug to reach >$1B in annual net sales U.S. Int’l • One of two PD-1 antibodies FDA-approved for use in combination with chemotherapy irrespective of histology or PD-L1 expression levels • Continuing to grow market share in monotherapy and in combination with chemotherapy • Leading anti-PD-1/L1 therapy in advanced CSCC and BCC Advanced NSCLC Advanced BCC Advanced CSCC This slide contains investigational indications for cemiplimab that have not been approved by any regulatory authority. First and only immunotherapy to show statistically significant DFS benefit in high-risk adjuvant CSCC sBLA accepted for Priority Review (PDUFA October 2025) Libtayo global net product sales, in $ Millions *Constant currency growth

• 11. 11 This slide contains investigational drug candidates that have not been approved by any regulatory authority. Key 2025 clinical milestones to drive long-term shareholder value Opportunity to address areas of high unmet need in large commercial categories * In combination with LIBTAYO (cemiplimab) Inflammation & Immunology Phase 3 data for itepekimab in former smokers with COPD (1 of 2 studies met primary endpoint) Genetic Medicines • Phase 3 data for pozelimab + cemdisiran in generalized myasthenia gravis ✓ Proof-of-concept data from Phase 2 COURAGE study (semaglutide + myostatin ± activin-A) Obesity Oncology • Phase 3 data for fianlimab* in 1L metastatic melanoma Hematology ✓ Initiate Phase 3 Factor XI program

• 12. 12 Addressing high unmet need in COPD • Addressing COPD with an eosinophilic phenotype (eos ≥300/μl) in both current and former smokers • First and only biologic to achieve clinically meaningful and statistically significant reduction in COPD exacerbations and improvement in lung function vs. placebo* • Approved in 45 countries, including the U.S., EU, Japan, and China • AERIFY program results reported in May 2025 • AERIFY-1 met primary endpoint, demonstrating a statistically significant reduction in moderate or severe exacerbations • AERIFY-2 did not meet the primary endpoint, despite a treatment effect observed earlier in the trial • Next steps being assessed and pending discussions with regulators • Ongoing studies in CRSwNP, CRSsNP and NCFB continuing Itepekimab† (anti IL-33) Itepekimab only ~600K patients Dupixent or itepekimab >350K patients Dupixent only ~150K patients Type 2 Non-Type 2 Former Smokers (70% of COPD patients) Current Smokers (30% of COPD patients) — Current U.S., EU and Japan addressable patient estimates This slide contains investigational drug candidates and indications that have not been approved by any regulatory authority. *Patients were randomized to receive Dupixent or placebo added to maximal standard-of-care inhaled triple therapy (LABA+LAMA+ICS) † Itepekimab is not approved by any regulatory authority

• 13. 13 Novel treatment approach for potentially reversing severe allergy: Linvoseltamab (BCMAxCD3) plus Dupixent (anti-IL4Rα) This slide contains investigational drug candidates that have not been approved by any regulatory authority. Linvoseltamab and Dupixent regimen has the potential to eliminate IgE: potential groundbreaking approach for controlling severe allergy • Initial Data: A 20-year-old male with mild asthma, allergic rhinitis, atopic dermatitis and multiple severe IgE-mediated food allergies with documented recurrent anaphylaxis, ER visits and hospitalizations, which have significantly impacted his quality of life • Safety: no unexpected adverse events to-date Clinical trial with the two-drug regimen in patients with severe food allergies is ongoing; Additional patients enrolled with data updates anticipated in 2025 Induction with short course (4 doses) of lowdose linvoseltamab led to rapid and profound (~90%) reduction in IgE with combined approach Immunoglobulin E (IgE) is the key driver of allergic reactions, such as food allergies; long-lived plasma cells consistently produce IgE ~90% reduction in IgE levels in Severe Food-Allergic Patient #1 Dupixent run- in Ongoing Dupixent 2500 IU/mL -101 2000 1500 1000 500 0 1 8 15 222529 36 43 Linvoseltamab dose administered Day Day Reference range of normal IgE Dupixent dosing initiated

• 14. Regeneron’s oncology strategy: using the immune system to defeat cancer with 5 classes of immunomodulatory agents Signal 1 CD3 Bispecifics Designed to link killer T cells with cancer cells Signal 2 Costimulatory Bispecifics Activating killer T cells via costimulation Signal 3 (e.g., Targeted Cytokines) Designed to selectively recruit immune cells to the tumor microenvironment T Cell checkpoint inhibitors LIBTAYO: anti-PD-1 Fianlimab: anti-LAG-3 Designed to overcome T cell suppression Antibody Drug Conjugates Designed to directly and selectively kill tumor cells Lung Cancer NSCLC Indication areas of focus Dermato-Oncology CSCC; BCC; Melanoma Genitourinary Prostate; RCC Gyn-Onc Ovarian; endometrial; cervical GI CRC; esophageal / gastric; HCC HNSCC Hematological Lymphomas, Myelomas, Myeloid malignancy 14 ✓ Can be used across multiple tumor types and in combination Regeneron has clinically validated these first 3 classes, several with potentially best-in-class clinical efficacy Earlier-stage Programs This slide contains investigational drug candidates that have not been approved by any regulatory authority.

• 15. Unique flexibility of internally-developed oncology pipeline drives potential for novel and differentiated combinations Cemiplimab (PD-1) PD1-IL2Ra-IL2 MUC16 CAR-T Davutamig (METxMET) MUC16 CAR-T Cemiplimab (PD-1) PD-1 Inhibitor Odronextamab (CD20xCD3) Linvoseltamab (BCMAxCD3) PSMAxCD3 Ubamatamab (MUC16xCD3) Cemiplimab (PD-1) Linvoseltamab (BCMAxCD3) “Signal 1” CD3 Bispecific Antibodies “Signal 2” CD28 Bispecific Antibodies Other ImmunoModulating Agents “Signal 3” ImmunoCytokines Tumor-Targeted (Biparatopics) Bispecific Antibodies Adoptive T-Cell Therapies Odronextamab (CD20xCD3) CD22xCD28 Cemiplimab (PD-1) Odronextamab (CD20xCD3) Cemiplimab (PD-1) PSMAxCD3 Cemiplimab (PD-1) Ubamatamab (MUC16xCD3) Linvoseltamab (BCMAxCD3) CD38xCD28 PSMAxCD3 Nezastomig (PSMAxCD28) Fianlimab (LAG-3) Cemiplimab (PD-1) Vidutolimod (TLR9a) Cemiplimab (PD-1) BNT116 Cemiplimab (PD-1) Ubamatamab (MUC16xCD3) MUC16xCD28 Cemiplimab (PD-1) EGFRxCD28 Nezastomig (PSMAxCD28) Cemiplimab (PD-1) Nezastomig (PSMAxCD28) Cemiplimab (PD-1) MUC16xCD28 15 This slide contains investigational drug candidates that have not been approved by any regulatory authority.

• 16. Pembrolizumab (anti-PD-1) KEYNOTE-006 n=277 (Q3W regimen) Nivolumab (anti-PD-1) RELATIVITY-047 n=359 Ipilimumab (anti-CTLA4) + nivolumab CHECKMATE-067 n=314 Relatlimab (anti-LAG-3) + nivolumab (anti-PD-1) RELATIVITY-047 n=355 Fianlimab + cemiplimab pooled POC cohorts n=98 mPFS 4.1 mo 4.6 mo 11.7 mo 10.1 mo mPFS: 24 mo (KM estimate) mOS Not Reached 34.1 mo Not Reached Not Reached OS: Not Reached All TRAE Grade 3-4 TRAE All TRAE Grade 3-4 TRAE All TRAE Grade 3-4 TRAE All TRAE Grade 3-4 TRAE All TRAE Grade 3-4 TRAE Follow up OS: final analysis with an additional FU of 9 mo At the time of the final OS analysis Minimum FU: 9 mo for ORR, 28 mo for PFS, 48 mo for OS At the time of the final OS analysis Median FU: 23 mo Source KEYTRUDA U.S. FDA PI; Robert et al., 2015 NEJM OPDUALAG U.S. FDA PI; Tawbi et al., 2022 NEJM YERVOY & OPDIVO U.S. FDA PI; Wolchok et al., 2017 NEJM OPDUALAG U.S. FDA PI; Tawbi et al., 2022 NEJM ESMO 2024 Data 16 Combining two potentially best-in-class checkpoint inhibitors: Fianlimab (anti-LAG-3) & LIBTAYO (anti-PD-1) in 1L metastatic melanoma* Emerging as potentially differentiated treatment option for 1L metastatic melanoma Table depicts randomized Phase 3 data for four FDA-approved treatments as well as pooled, post-hoc data from three independent cohorts from initial trial of fianlimab + cemiplimab; there are no randomized, head-to-head clinical trials between these products. Study data being provided for descriptive purposes only. Caution is advised when drawing conclusions based on cross-trial comparisons. *This slide contains investigational data for the combination of fianlimab + cemiplimab; this combination has not been approved by any regulatory authority. All other products listed are FDA-approved therapies. Safety Efficacy 33% 6% 27% ORR CR PR 33% 14% 18% ORR CR PR 50% 9% 41% ORR CR PR 43% 16% 27% ORR CR PR 57% 25% 33% ORR CR PR 73% 10% 70% 10% 96% 59% 81% 19% 81% 23%

• 17. Phase 1 Phase 2 Phase 3 Melanoma 1L Metastatic Melanoma (vs. pembrolizumab) 1L Metastatic Melanoma (vs. nivolumab+relatlimab) Adjuvant Melanoma Perioperative Melanoma NSCLC Advanced NSCLC Perioperative NSCLC Other solid tumors Perioperative HCC 1L HNSCC (PD-L1+; HPV+ and HPV-) Perioperative HNSCC 17 Advancing Fianlimab (anti-LAG-3) & LIBTAYO (anti-PD-1) combination in melanoma and across several solid tumor cancers Combining two potentially “best-in-class” checkpoint inhibitors: Fianlimab (anti-LAG-3) & LIBTAYO (cemiplimab, anti-PD-1) – potential for differentiated efficacy and safety vs. current standard-of-care Pivotal data in 4Q25 / 1Q26 Enrolling Enrolling Enrolling – Enrolling Initiating 1Q26 Enrolling Initiating 2026 Enrollment complete Dual LAG-3 and PD-1 blockade may provide enhanced immune activation vs. anti-PD-1 alone This slide contains investigational drug candidates that have not been approved by any regulatory authority. Next analysis in 1Q26

• 18. Dose Escalation Proof-ofMechanismDose Expansion Status / Next Steps Combined with: Checkpoint Inhibitors xCD3 bispecifics Nezastomig (PSMAxCD28) Prostate Cancer; RCC Enrolling monotherapy and combination cohorts EGFRxCD28 Solid Tumors Expansion cohorts (NSCLC, HNSCC, CSCC, CRC) in combination with cemiplimab and with chemotherapy now enrolling MUC16xCD28 Ovarian Cancer Expansion cohorts in combination with cemiplimab enrolling; enrolling dose escalation with ubamatamab CD22xCD28 DLBCL Enrolling dose escalation cohorts CD38xCD28 MM Enrolling dose escalation cohorts 18 Pipeline of CD28 costimulatory bispecifics progressing Data poster at AACR Data expected in 2H25 Cemiplimab PSMAxCD3 Cemiplimab Cemiplimab Ubamatamab (MUC16xCD3) Odronextamab (CD20xCD3) Linvoseltamab (BCMAxCD3) This slide contains investigational drug candidates that have not been approved by any regulatory authority.

• 19. Regeneron’s differentiated CD3 bispecifics 19 (linvoseltamab, BCMAxCD3) Multiple myeloma (MM) Lynozyfic is a BCMAxCD3 bispecific with a differentiated clinical profile, dosing, and administration ORDSPONO (odronextamab, CD20xCD3) Non-Hodgkin lymphoma (NHL) Regeneron’s first approved bispecific antibody (in EU) in relapsed/refractory (R/R) follicular lymphoma (FL) and diffuse large B-cell lymphoma (DLBCL) T Cell Receptor/ CD3 Tumorspecific target This slide contains investigational drug candidates and indications that have not been approved by any regulatory authority. CRL received for FL due to inspection findings at a third-party manufacturer responsible for vial filling 70% ORR / 45% CR+ in r/r MM† Nearly double the CR rate of other bispecifics at similar follow-up* 80% ORR / 73% CR in r/r FL Highest response rate observed in the class in this late-line setting Now approved in the U.S. and Europe Differentiated Phase 3 programs in earlier lines of therapy using monotherapy and novel combinations underway for both odronextamab and linvoseltamab † Per U.S. PI *There are no randomized, head-to-head clinical trials between these products. Study data being provided for descriptive purposes only. Caution is advised when drawing conclusions based on cross-trial comparisons.

• 20. Teclistamab- FDA Approved (per U.S. FDA Prescribing Information§; n=110) Elranatamab- FDA approved (per U.S. FDA Prescribing Information§; n=97) Lynozyfic – Now FDA approved (per U.S. FDA Prescribing Information§; n=117) Follow-up 7.4-months among responders Follow-up 11.1-months among responders Follow-up 11.3-months among responders CRS median time to onset: 2 days median duration: 2 days CRS median time to onset: 2 days median duration: 2 days CRS median time to onset: 11 hours median duration: within 15 hours 3 X 48-hr hospitalization requirements during step-up dosing (over initial ~9 days) Subcutaneous (by HCP only) 1 X 48-hr + 1 X 24-hr hospitalization requirements during step-up dosing (over initial ~5 days) Subcutaneous (by HCP only) 1 X 24-hrs in W1 + 1 x 24-hrs in W2; Hospitalized for 1 day during step-up dosing on Day 1 & Day 8 Intravenous (Week 3+ = 30-min†) 44% 14% 0.5% 3% G1 G2 G3+ ICANS 50% 21% 0.6% 6% G1 G2 G3+ ICANS 20 Within the BCMA bispecific class, Lynozyfic provides a differentiated and compelling clinical profile in r/r multiple myeloma There are no randomized, head-to-head clinical trials between these products. Study data being provided for descriptive purposes only. Caution is advised when drawing conclusions based on cross-trial comparisons. § US PI as of July 2025† 30-min as long as patient tolerability allows; discretion at Day 8. CRS Safety Hospitalization, Administration & Dosing schedule Efficacy Weeks 25-48 (responders) Weeks 1-24 QW Q2W Q4W Weeks 1-14 Weeks 15-23 Week 24+ if VGPR+ QW Q2W CRS 62% 28% ORR sCR + CR 200mg dose 35% 10% 0.9% 8% G1 G2 G3+ ICANS CRS 58% 26% ORR sCR + CR 70% 45% ORR sCR + CR x 6 days x 3 days x 2 days Not full safety profile. Please refer to U.S. FDA prescriber information and Regeneron’s disclosures for further details Week 1 - 6 months 6+ months (CR+ only) QW Q2W Q4W Weeks 49+ (responders)

• 21. 21 Broad Lynozyfic development program to evaluate monotherapy and simplified combinations in earlier stages of disease Unprecedented late-line responses rates provide confidence to explore monotherapy and novel combinations in earlier disease settings to simplify treatment approaches §; 3L+ in the U.S.; earlier line of therapy eligible in some geographies based on regional SOC Incidence – new cases diagnosed annually. *Prevalence provided instead of incidence as MGUS is a slow progressing disease. Line of therapy U.S. treated population Study Phase 1 Phase 2 Phase 3 Multiple Myeloma Incidence: U.S. >36,000 WW >187,000 Third line+ ~4,000 in 4L+/ ~8,000 in 3L LINKER-MM3§ (Linvo mono vs. EPd) LINKER-MM1 (Linvo mono) (Linvo + CD38xCD28) Second line ~16,000 LINKER-MM2 (Linvo + SOC / novel therapies) First line ~30,000 LINKER-MM4 (Linvo mono) LINKER-MM6 transplant ineligible (Linvo post DRd vs. DRd) Studies in maintenance, transplant eligible Multiple Myeloma Precursor Conditions High Risk (HR) Smoldering MM LINKER-SMM1 (Linvo mono) HR MGUS / non-HR Smoldering MM LINKER-MGUS1 (Linvo mono) AL Amyloidosis Incidence: U.S. ~4,500 Second line+ LINKER-AL2 (Linvo mono) Phase 3 fully enrolled Phase 1 Phase 3 initiated Phase 1/2 FIH/Phase 1/2 Phase 2 Phase 2 FIH/Phase 1/2 Phase 1/2 Now approved in the U.S. and Europe U.S. Epidemiology MM Precursor Conditions (clinically detected cases only, actual population may be higher; estimates not as well-characterized as MM) HR SMM, incidence: 1,200 – 1,600 Non-HR SMM, incidence: 3,000 – 3,500 HR MGUS, prevalence*: 11,000 – 19,000 This slide contains investigational drug candidates that have not been approved by any regulatory authority. Exploring differentiated combinations (with CD38xCD28) Advancing to earlier lines of therapy Phase 3s planned

• 22. Exploring differentiated combinations (with CD22xCD28) 22 Broad Ordspono phase 3 program currently enrolling patients, including in earlier lines of FL and DLBCL Monotherapy efficacy in late lines supports differentiated approach using monotherapy and novel combinations in earlier lines Line of therapy U.S. treated population Study Phase 1 Phase 2 Phase 3 Follicular Lymphoma Incidence: U.S. ~13,100 WW ~120,000 Third line+ ~1,900 ELM-2 * (odro mono, pivotal) Second line ~4,100 OLYMPIA-5 * (odro-lenalidomide vs. rituximab-lenalidomide) First line ~11,300 OLYMPIA-1 (odro mono vs. R-CHOP) OLYMPIA-2 (odro-chemo vs. R-chemo) DLBCL Incidence: U.S. ~31,000 WW ~163,000 Third line+ ~3,600 ELM-2 * (odro mono, pivotal) ATHENA-1 (odro-CD22xCD28) CLIO-1 (odro-cemiplimab) Second line ~8,600 OLYMPIA-4 (odro vs. SOC) First line ~27,000 OLYMPIA-3 (odro-CHOP vs. R-CHOP) Now approved in Europe for R/R FL and DLBCL CRL received for FL in July 2025 Incidence – new cases diagnosed annually. * Also investigating patients with marginal zone lymphoma (MZL) Advancing to earlier lines of therapy Phase 2 Phase 3 FIH, Phase 1 Phase 3 Phase 3 Phase 1 Phase 3 Phase 3 Phase 2 This slide contains investigational drug candidates that have not been approved by U.S. FDA

• 23. 23 Two-pronged approach to anticoagulation offers potential for improved blood clot prevention and lower bleeding risk Two Factor XI antibodies advancing to pivotal trials: REGN7508 (catalytic domain) and REGN9933 (A2 domain) 1Based on maximal aPTT prolongation in human plasma; aPTT - activated Partial Thromboplastin Time – an assay measuring activity of the coagulation pathway; Chalothorn D, et al., THSNA 2024 poster 2Sharman Moser S, et al., The Association between Factor XI Deficiency and the Risk of Bleeding, Cardiovascular, and Venous Thromboembolic Events. Thromb Haemost. 2022. doi: 10.1055/s-0041-1735971 Future vision: Factor XI Ab’s • More specific inhibition of the intrinsic coagulation pathway • Two FXI antibodies may address unmet need in thrombosis prevention, with unique profiles1: – REGN7508 mimics FXI deficiency: improved anticoagulation vs. SoC – REGN9933 mimics FXII deficiency: low bleeding risk may enable broader usage Genetic data: – FXI deficiency2: trend toward reduced risk of MI, stroke with minimal increased bleeding risk – FXII deficiency: no increased bleeding risk fXII fXI fIX fII fX Intrinsic Coagulation Pathway Charged surfaces, RNA/DNA, and polyphosphates Common Pathway Fibrin fVII fVIII (thrombin) Extrinsic Coagulation Pathway Tissue factor from injury Amplification Mechanism of Action for Factor XI Ab’s Current market for thrombosis disorders: • Existing SoC includes LMWH, DOAC’s and aspirin, including $20 billion SPAF market • Challenges with existing SoC include: – Factor Xa effectively reduce thrombotic events, but carry elevated risk of bleeding – Utilization rate for DOAC’s in SPAF is only ~50%, mainly due to bleeding risk Mimics FXI deficiency REGN7508 Mimics FXII deficiency REGN9933 This slide contains investigational drug candidates that have not been approved by any regulatory authority.

• 24. 24 Regeneron’s Factor XI antibodies: Potential for maximal anti-coagulation with minimal bleeding Positive proof-of-concept data for REGN7508 (catalytic) and REGN9933 (A2) announced in December 2024 *Results from ROXI-VTE I (REGN9933, apixaban) and ROXI-VTE II (REGN7508); enoxaparin VTE rate pooled across both studies 1Fuji T, Fujita S, Tachibana S, Kawai Y. A dose-ranging study evaluating the oral factor Xa inhibitor edoxaban for the prevention of venous thromboembolism in patients undergoing total knee arthroplasty. J Thromb Haemost. 2010 Nov;8(11):2458-68. doi: 10.1111/j.1538-7836.2010.04021.x. PMID: 20723033. PoC data support advancing both antibodies into a broad Phase 3 development program in multiple coagulation disorders and in patients with different risk factors for bleeding First Phase 3 trial in VTE prevention following total knee replacement now underway Additional pivotal studies initiating in 2H25/1H26 Therapy Target VTE Rate* Initiation of dosing (hrs) REGN7508 FXI (catalytic) 7% 12-24 postop REGN9933 FXI (A2) 17% 12-24 postop Enoxaparin Multiple 21% 12-24 postop Apixaban FXa 12% 12-24 postop Historical Control (pbo) N/A 48%1 N/A 6.5 6.0 5.5 5.0 .5 .0 3.5 3.0 2.5 2.0 .5 Do ling i e ine .0 .5 .0 .5 .0 6.5 6.0 5.5 5.0 .5 .0 aPTT ratio REGN antibodies expected to have different profiles: REGN7508: increased anticoagulation activity vs. competing agents REGN9933: comparable anticoagulation activity to competing agents with lower bleed risk Log[M] of FXI inhibitor (clinically relevant concentrations for mAbs and small molecules indicated above) FXI Catalytic domain antibodies REGN7508 mAb competitor #1 mAb competitor #2 FXI A2 domain antibody REGN9933 FXI small molecules SM Competitor #1 SM Competitor #2 Preclinical aPTT Screening Results of REGN Antibodies and Competitor FXI Agents 2.0-fold aPTT Small molecules require much higher concentration to reach similar anticoagulation activity, increasing risk of off-target effects This slide contains investigational drug candidates that have not been approved by any regulatory authority.

• 25. Program Status 25 Our differentiated siRNA + antibody approach has the potential to address multiple complement-mediated diseases Despite competitive markets, there is opportunity to improve upon the current standard of care with prolonged and complete inhibition of complement protein C5 (for multiple diseases) siRNA (cemdisiran) lowers C5 target burden, allowing antibody (pozelimab) to more effectively block C5 function * Evaluate Pharma 2025 U.S. Prevalence (patients): ~1.1M Worldwide market sales*(2025e): ~$1.0B Estimated market sales CAGR* (2025-2030): ~34% Geographic Atrophy 2025 U.S. Prevalence (patients): ~6k Worldwide market sales* (2025e): ~$2.0B Estimated market sales CAGR* (2025-2030): ~12% Paroxysmal Nocturnal Hemoglobinuria 2025 U.S. Prevalence (patients): ~90k Worldwide market sales*(2025e): ~$5.0B Estimated market sales CAGR* (2025-2030): ~17% Myasthenia Gravis This slide contains investigational drug candidates that have not been approved by any regulatory authority. • Phase 3 pivotal program initiated in 2H 2024 • Phase 3 results expected in 3Q 2025 • Cohort A (exploratory): Updated Phase 3 data reported at ASH 2024 • Cohort B (registrational): Study enrolling, data expected in 2026+

• 26. 66% 82% 82% 93% 34% 18% 18% 7% 0% 20% 40% 60% 80% 100% -23.0 -21.6 -30.0 -24.8 -15.3 -16.9 -18.9 -25.4 -7.9 -3.7 -4.2 -2.0 -35 -30 -25 -20 -15 -10 -5 0 26 Combining semaglutide with muscle-preserving antibodies improved the quality of weight loss in Phase 2 COURAGE study At interim analysis of Phase 2 COURAGE study, ~35% of semaglutide weight loss was due to lean mass loss, confirming that up to 40% of weight loss from semaglutide is due to decrease in muscle mass1 1Wilding, Diabetes Obes Metab, 2022; PMID: 35441470; *Lean mass and fat mass was calculated using dual-energy X-ray absorptiometry (DXA) scan, while body weight was measured using a scale; as a result, the lean and fat mass numbers may not exactly sum to body weight. Results are based on MMRM analysis using efficacy estimand that excludes data after the treatment discontinuation. † Percentages are calculated differently vs. June 2025 press release; above: % weight loss from fat or lean mass = Change in fat or lean mass in lbs / (Change in lean mass in lbs + Change in fat mass in lbs) *100 Interim 26-week Results of Phase 2 COURAGE Study* This slide contains investigational drug candidates that have not been approved by any regulatory authority. Interim 26-week results from Phase 2 COURAGE study Trial demonstrated approximately 35% of semaglutide-induced weight loss was due to loss of lean mass and combining semaglutide with trevogrumab (with or without garetosmab) preserved lean mass while increasing loss of fat mass Combination of semaglutide with trevogrumab was generally well-tolerated; triple combination of semaglutide with both antibodies had a substantially higher rate of discontinuations due to tolerability issues and other adverse events, consistent with the safety profile previously observed with garetosmab alone Final 26-week safety and efficacy data were consistent with interim analysis; final 26- week data to be presented at EASD 2025 Sema Low-dose trevogrumab High-dose trevogrumab Triplet (lbs) Proportion of Weight Loss From Fat vs. Lean Mass at Week 26† Change in Body Composition & Total Weight Loss at Week 26 More Fat Loss % Weight loss due to fat and lean mass Fat mass loss Lean mass loss Total weight loss

• 27. 27 Transforming patient care for obesity and related conditions Three major opportunities for Regeneron in the rapidly growing obesity therapeutic area: Enhancing the quality of GLP1- based weight loss • Harness beneficial effects of muscle preservation in obesity • POC data on anti-myostatin ± anti-activin A warrant potential future development • Unimolecular solutions in preclinical development Address obesity comorbidities with novel combinations • Combinations of olatorepatide with REGN portfolio assets to address obesity comorbidities GLP1/GIP Receptor Agonist monotherapy Olatorepatide/HS-20094 • In-licensing of olatorepatide (dual GLP1/GIP receptor agonist) enables initial monotherapy development • Target Ph3 initiation in 2026, pending regulatory feedback 1 2 3 This slide contains investigational drug candidates that have not been approved by any regulatory authority.

• 28. Viral vector (e.g. AAV) Antibody directed delivery siRNA CRISPR/ Cas9 Gene Therapy 28 World-class Regeneron Genetic Medicines (RGM) Program RGM builds and utilizes ‘turnkey’ therapeutic platforms — customizing the choice of genetics technology (siRNA, CRISPR/Cas9, etc.) based on therapeutic application Continuing to build in-house expertise and leverage groundbreaking industry collaborations In-House: Developing next-generation gene therapies combining novel payloads, viral vectors and antibodies to address difficult-to-treat diseases Alnylam: Exclusive siRNA collaboration in eye and CNS, with liver programs in MASH and additional RGC targets Intellia: Exclusive CRISPR/Cas9 gene knockdown and gene insertion in the liver and ex vivo targets Mammoth Biosciences: Ultracompact CRISPR gene editing systems to advance in vivo programs in multiple tissue and cell types All trademarks included are the property of their respective owners

• 29. 29 DB-OTO demonstrates the potential to provide hearing to deaf children (from infancy to adolescence) DB-OTO is an AAV-based dual-vector gene therapy delivered to the inner ear to enable hearing in children Behavioral pure tone audiogram – a plot of softest sounds a patient can hear in an individual ear *Arrows indicate no response at maximum level tested This slide contains investigational drug candidates that have not been approved by any regulatory authority. Gene therapy for genetic hearing deficit Potentially first-in-class, one-time treatment to enable hearing in patients born with profound deafness due to biallelic OTOF mutations • Twelve patients between the ages of 10 months and 16 years have now been dosed with DB-OTO (3 bilaterally) • 10 of 11 treated patients with at least one post treatment assessment have shown a notable response, with improved hearing at various dBHL thresholds • No DB-OTO related adverse events have been recorded to date • Updated data presented at Association for Research in Otolaryngology’s th Annual MidWinter Meeting 0 20 0 60 0 00 20 res old d isit week 0 All on Res onses Res onses an on Res onses 6 2 32 0 0 6 2 32 0 D D A I D A reated ntreated Maturing data continues to demonstrate the potential of DB-OTO as a revolutionary treatment for children with genetic hearing deficit Degree of Hearing Loss

• 30. 30 Regeneron Genetic Medicines pipeline Agreement with: *Alnylam; †Intellia. ALN-SOD is on U.S. FDA clinical hold, enrolling ex-U.S Select Pre-IND Candidates Phase 1 Phase 2 Phase 3 ALN-CIDEB* CIDEB siRNA MASH ALN-HTT02* HTT siRNA H ntington’s Disease Factor 9† F9 CRISPR + AAV Hemophilia B GAA† GAA CRISPR + AAV Pompe Disease GJB2 GJB2 AAV GJB2-related Hearing Loss DB-OTO | OTOF AAV Dual Vector Gene Therapy OTOF-related Hearing Deficit (Phase 1/2) ALN-PNP* PNPLA3 siRNA NAFLD Rapirosiran* HSD17B13 siRNA MASH Pozelimab + Cemdisiran* C5 Antibody + C5 siRNA Myasthenia Gravis; Paroxysmal Nocturnal Hemoglobinuria; Geographic Atrophy Nexiguran ziclumeran (Nex-z, NTLA-2001) † CRISPR/Cas9 Transthyretin Amyloidosis with cardiomyopathy (ATTR-CM); Hereditary transthyretin amyloidosis with polyneuropathy (ATTRv-PN) This slide contains investigational drug candidates that have not been approved by any regulatory authority. ALN-SOD* SOD1 siRNA SOD1 ALS ALN-ANG3* ANGPTL3 siRNA Healthy Volunteers MAPT* MAPT (Tau) siRNA Neuro-degenerative diseases SNCA* SNCA (synuclein) siRNA Parkinson’s ALN-APOC3* APOC3 siRNA People with dyslipidemia

• 31. 31 Regeneron-discovered, approved and investigational medicines across a diverse set of diseases As of August 2025; ALN-SOD is on U.S. FDA clinical hold, enrolling ex-U.S. All trademarks mentioned are the property of their respective owners. REGN4336 (PSMAxCD3) 27T51 (MUC16 CAR-T) REGN10597 (PD-1-IL2Ra-IL2) vonsetamig (BCMAxCD3) REGN5837 (CD22xCD28) REGN7945 (CD38xCD28) REGN9533 (Factor XII) ALN-F1202‡(Factor XII) ALN-PNP‡ (PNPLA3) ALN-ANG3‡(ANGPTL3) ALN-SOD‡(SOD1) ALN-HTT02‡(HTT) ALN-APOC3‡(APOC3) REGN13335 (PDGFβ) REGV131-LNP1265#(Factor 9) ALN-CIDEB‡(CIDEB) ubamatamab (MUC16xCD3) nezastomig (PSMAxCD28) REGN7075 (EGFRxCD28) davutamig (METxMET) REGN5668 (MUC16xCD28) REGN9933 (Factor XI) REGN7257 (IL-2Rγ) REGN7999 (TMPRSS6) REGN5381/REGN9035 (NPR1) rapirosiran‡(HSD17B13) trevogrumab (GDF8) DB-OTO (AAV Gene Therapy)Δ REGN7544 (NPR1 antagonist) sarilumab* (IL-6R) Approx. 45 product candidates Agreement with: *Sanofi; ‡Alnylam; #Intellia; °Bayer, **Ultragenyx †Kiniksa is solely responsible for development and commercialization of ARCALYST §Sanofi is solely responsible for development and commercialization of ZALTRAP ΔDiscovered by Decibel Therapeutics Phase 1 Phase 2 Phase 3 Approved This slide contains investigational drug candidates that have not been approved by any regulatory authority. aflibercept 8 mg° (VEGF) dupilumab* (IL-4R) itepekimab* (IL-33) REGN5713-5715 (Bet v 1) REGN1908-1909 (Fel d 1) cemiplimab (PD-1) fianlimab (LAG-3) pozelimab + cemdisiran‡ (anti-C5 + C5 siRNA) odronextamab (CD20xCD3) linvoseltamab (BCMAxCD3) nexiguran ziclumeran#(TTR) REGN7508 (Factor XI) garetosmab (Activin A) mibavademab (LEPR) HEMATOLOGY SOLID ORGAN ONCOLOGY INTERNAL/GENETIC MEDICINES I&I OPHTHALMOLOGY † § ° ° * * **

• 32. 32 Category Product Indication(s) Value Proposition Eosinophilic COPD Dupixent Eosinophilic COPD First biologic approved for eosinophilic COPD COPD in former smokers itepekimab COPD in former smokers Potential first-in class opportunity to address up to 1 million former smokers with COPD globally Non-melanoma skin cancers Libtayo Adjuvant CSCC First and only immunotherapy to show a statistically significant DFS benefit in high-risk adjuvant CSCC Solid tumors fianlimab + Libtayo Melanoma, NSCLC, HNSCC Emerging as a potentially differentiated treatment option in multiple solid tumors Myeloma linvoseltamab Multiple myeloma & pre-cursor conditions Potentially best-in-class BCMA bispecific to disrupt current treatment paradigm in earlier lines Lymphoma odronextamab FL, DLBCL Potentially best-in-class CD20 bispecific (in FL) to disrupt current treatment paradigm in earlier lines Complementmediated diseases pozelimab + cemdisiran gMG, PNH, GA Complete inhibition of C5 has potential to improve efficacy and convenience Anticoagulants REGN7508 & REGN9933 Coagulation disorders Potential to improve efficacy and safety relative to current standards of care Obesity Multiple Obesity, T2DM Potential for monotherapy GLP-1/GIP-based therapy; combinations that improve quality of weight loss and address obesity comorbidities Allergies Multiple Birch, cat, food allergies Tackling multiple different allergen-driven diseases Differentiated pipeline opportunities to potentially address categories expected to exceed $220 billion annually in 2030

• 33. 33 2025 key upcoming milestones EYLEA HD • RVO sBLA acceptance ; FDA decision • Pre-filled syringe FDA decision and launch • Addition of Q4W dosing to FDA label for all indications • Addition of 2-year data in wAMD and DME to FDA label – CRL received Dupixent / I&I • Report pivotal data for itepekimab in COPD ; submit BLA – next steps TBD • Dupixent - CSU FDA decision • Dupixent - BP sBLA acceptance ; FDA decision ; EU submission • Initiate additional Phase 3 studies for itepekimab • Report data for birch, cat, and severe food allergy programs Internal Medicine • Report proof-of-concept data of combination of semaglutide and trevogrumab with and without garetosmab in obesity • Report Phase 3 data for garetosmab in FOP (2H) Solid Organ Oncology • Submit sBLA for Libtayo in adjuvant CSCC (PDUFA October 2025) • Report results from Phase 3 study of fianlimab + cemiplimab vs. pembrolizumab monotherapy in 1L metastatic melanoma (4Q25/1Q26); submit BLA pending results (now 2026) • Report initial Phase 2 data for fianlimab + cemiplimab in 1L advanced NSCLC – studies continuing until next analysis in 1Q 2026 • Report additional data for ubamatamab (MUC16xCD3) in ovarian cancer (2H) • Report additional data across solid tumor costimulatory bispecific programs: • Nezastomig (PSMAxCD28) + cemiplimab in mCRPC • EGFRxCD28 + cemiplimab -- dose expansion cohorts (2H) • MUC16xCD28 + ubamatamab in ovarian cancer Hematology • Resubmit BLA for odronextamab in R/R follicular lymphoma ; FDA decision – CRL received • Resubmit BLA for linvoseltamab in R/R multiple myeloma ; FDA decision • Initiate Phase 3 program for Factor XI antibodies across multiple indications Genetic Medicines • Report additional data for DB-OTO (2H) • Report pivotal Phase 3 data for pozelimab+cemdisiran in gMG (3Q) This slide contains investigational drug candidates that have not been approved by any regulatory authority. ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓

• 34. 34 Continuing to deliver on capital allocation priorities to drive long-term growth *As of June 30, 2025. †Based on most recent 2025 GAAP R&D guidance. ‡Pursuant to license agreement with Hansoh Pharma Internal Investment in our world-class R&D capabilities and capital expenditures to support sustainable growth • Investing >$5 billion into R&D in 2025† • Continued investments in R&D and manufacturing capacity in the U.S. • Committed over $7 billion to U.S. manufacturing investments, capital expenditures, and business development since the start of 2025 Return Capital to Shareholders with share repurchases and dividends • Over $2 billion in share repurchases YTD in 2025 • Additional $3 billion program authorized in February 2025; ~$2.8 billion remaining available for repurchases* • Quarterly cash dividend initiated in 2025; next $0.88/share dividend to be paid September 3, 2025 Business Development to expand pipeline and maximize commercial opportunities • Strong financial position provides significant optionality to pursue business development opportunities that complement our internal capabilities, including both early- and later-stage opportunities • Strategic in-licensing of GLP-1/GIP for obesity‡ • Collaboration agreements provide innovative pipeline opportunities

• 35. Three responsibility focus areas reflect our “doing well by doing good” et os 35 OUR MISSION Use the power of science to repeatedly bring new medicines to people with serious diseases 3 Build sustainable communities • STEM education – sponsorship of top science competitions: – Regeneron Science Talent Search – Regeneron International Science and Engineering Fair • Environmental sustainability All trademarks included are the property of their respective owners 1 Improve the lives of people with serious diseases • Pipeline innovation • Access and affordability • Patient advocacy 2 Foster a culture of integrity and excellence • Product quality and safety • Healthy and engaged workforce • Ethics and integrity • Responsible supply chain

• 36. 36 GAAP to Non-GAAP Reconciliations

• 37. 37 Abbreviations and Definitions Abbreviation Definition 1L First line AACR American Association for Cancer Research AAV Adeno-associated virus ALS Amyotrophic lateral sclerosis aPTT Activated Partial Thromboplastin Time BCC Basal cell carcinoma BCMA B-cell maturation antigen BP Bullous pemphigoid CAR-T Chimeric antigen receptor T-cell CI Confidence Interval CNS Central nervous system COPD Chronic obstructive pulmonary disease CPUO Chronic pruritus of unkown origin CR Complete response CRC Colorectal Cancer CRS Cytokine release syndrome CRSsNP Chronic sinusitis without nasal polyposis CRSwNP Chronic sinusitis with nasal polyposis CSCC Cutaneous squamous cell carcinoma CSU Chronic spontaneous urticaria dB HL Decibel hearing loss DFS Disease-Free Survival Abbreviation Definition DOAC Direct oral anticoagulants DR Diabetic retinopathy DRd Darzalex + Revlimid + dexamethasone DXA Dual-energy X-ray absorptiometry EC European Commission ECOG Eastern Cooperative Oncology Group EGFR Epidermal growth factor receptor EoE Eosinophilic Esophagisits EPd Elotuzumab + Pomalidomide + dexamethasone FIH First in human FL Follicular lymphoma FLIPI Follicular Lymphoma International Prognostic Index FOP Fibrodysplasia Ossificans Progressiva GA Geographic atrophy GAA Alpha glucosidase GELF Groupe d'Etude des Lymphomes Folliculaires GI Gastrointestinal GIP Gastric inhibitory polypeptide GLP-1 Glucagon-like peptide 1 gMG Generalized myasthenia gravis HCC Hepatocellular carcinoma HCP Healthcare Provider Abbreviation Definition HNSCC Head and neck squamous HR Hazard Ratio HTT Huntingtin ICANS Immune effector cellassociated neurotoxicity syndrome IgE Immunoglobulin-E IND Initial new drug application KM Kaplan-Meier curve LAG-3 Lymphocyte-activation gene 3 LEPR Leptin receptor LMWH Low molecular weight heparin LOF/GOF Loss of function/ Gain of function MAPT Microtubule-associated protein tau MASH Metabolic Dysfunction-Associated Steatohepatitis mCRPC Metastatic castration-resistant prostate cancer MGUS Monoclonal gammopathy of unknown significance MM Multiple myeloma MMRM Mixed Models for Repeated Measures mOS Median overall survival mPFS Median progression-free survival MUC16 Mucin 16 NAFLD Non-alcoholic fatty liver disease NHP Non-human primate NR Not Reached NSCLC Non-small cell lung cancer Abbreviation Definition ORR Overall Response Rate PD-1/PD-(L)1 Programmed cell death protein/(ligand) 1 PDUFA Prescription Drug User Fee Act PK Pharmacokinetic PNH Paroxysmal nocturnal hemoglobinuria POC Proof-of-concept PR Partial response PSMA Prostate-specific membrane antigen R/R Relapsed/Refractory RCC Renal cell carcinoma RGC Regeneron Genetics Center RVO Retinal vein occlusion (s)BLA (Supplemental) biologics license application SC Subcutaneous sCR Stringent complete response SD Stable disease siRNA Small interfering RNA SOC Standard of care SPAF Stroke Prevention in Atrial Fibrillation T2DM Type 2 diabetes mellitus TEAE Treatment-emergent adverse events TRAE Treatment-related adverse events VEGF Vascular endothelial growth factor VTE Venous thromboembolism © 2025 Regeneron Pharmaceuticals, Inc. All rights reserved.