NUVAMA ON BIOCON ; PERTUZUMAB LAUNCH OPPORTUNITY

• Biocon has settled for launch of its Pertuzumab biosimilar across key markets. • Expected launch timeline: EU/UK in Q1 2027 and US in Q3 2028, with potential earlier launches in select other markets. • Pertuzumab global market size was ~US$3.6 billion in 2025. • Market size: US ~$1.5 billion | Europe ~$700 million | Japan ~$85 million | Other markets ~$1.34 billion. • Currently only one approved biosimilar in the US and Europe, implying limited competition. • Nuvama sees Pertuzumab as a significant product opportunity for Biocon. • Successful launches could lead to upgrades in Biocon’s FY27 and onward earnings estimates.

BIOCON LIMITED.

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