Celltrion

Dear Shareholders,

On July 31, 2025 (local time), U.S. President Donald Trump sent a letter to 17 global pharmaceutical companies, calling on them to reduce drug prices.

This follows the executive order on lowering drug costs signed in May, and outlines several measures to be implemented within 60 days, including: ▲Applying Most Favored Nation (MFN) pricing to Medicaid ▲Guaranteeing MFN pricing for newly launched drugs ▲Redirecting a portion of international profits to benefit U.S. patients and taxpayers ▲Allowing direct-to-patient sales based on MFN pricing.

As previously explained in our May 21 website announcement, this initiative appears to be primarily targeted at high-cost drugs that impose a burden on U.S. patients. Since Celltrion already supplies products at competitive prices and promotes price competition through biosimilars, we do not expect our products to be directly affected.

Moreover, if the MFN pricing policy leads to reduced prices for expensive originator drugs, the current environment—where originals are prioritized in formularies—is expected to shift toward more direct competition with biosimilars, thereby expanding prescription opportunities for our biosimilar portfolio.

In addition, the company has completed mid- to short-term countermeasures related to U.S. pharmaceutical tariff policies, including securing a two-year supply of inventory locally and finalizing agreements with local CMO partners to expand production within the U.S. At the same time, the company has been selected as the preferred bidder for the acquisition of a biologics manufacturing plant in the U.S., preparing a fundamental solution that can comprehensively resolve all potential tariff risks going forward.

We remain committed to closely monitoring changes in global healthcare policy, including in the United States, and will continue to share relevant developments with our shareholders promptly to ensure continued trust and support.

Thank you.