Genmab A/S : 39th Annual JP Morgan Healthcare Conference - January 2021

Innovating

Antibodies,

Improving Lives

39th Annual J.P. Morgan Healthcare

Conference

13 January 2021

© Genmab For Investor audience only. Not for public information or use. Not for promotional use.

Forward looking statement

This presentation contains forward looking statements. The words "believe", "expect", "anticipate", "intend" and "plan" and similar expressions identify forward looking statements. All statements other than statements of historical facts included in this presentation, including, without limitation, those regarding our financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to our products), are forward looking statements. Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Such forward looking statements are based on numerous assumptions regarding our present and future business strategies and the environment in which we will operate in the future. The important factors that could cause our actual results, performance or achievements to differ materially from those in the forward looking statements include, among others, risks associated with product discovery and development, uncertainties related to the

outcome of clinical trials, slower than expected rates of patient recruitment, unforeseen safety issues resulting from the administration of our products in patients, uncertainties related to product manufacturing, the lack of market acceptance of our products, our inability to manage growth, the competitive environment in relation to our business area and markets, our inability to attract and retain suitably qualified personnel, the unenforceability or lack of protection of our patents and proprietary rights, our relationships with affiliated entities, changes and developments in technology which may render our products obsolete, and other factors. Further, certain forward looking statements are based upon assumptions of future events which may not prove to be accurate. The forward looking statements in this document speak only as at the date of this presentation. Genmab does not undertake any obligation to update or revise forward looking statements in this presentation nor to confirm such statements to reflect subsequent events or circumstances after the date made or in relation to actual results, unless required by law.

© Genmab

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On the Road to 2025: Evolving Into a Fully Integrated Biotech

Core Purpose

To improve the lives of patients

by creating & developing innovative antibody products

Our Strategy

• Focus on core competence
• Turn science into medicine
• Build a profitable & successful biotech

Vision

By 2025, our own product has transformed cancer treatment and we have a pipeline of knock-your-socks off antibodies

Our Core Purpose, Strategy & Vision

Guide Our Work

© Genmab	3
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Well Positioned for Future Growth

Consistent and solid track record

World-class pipeline & innovation with two potential near-term launches

Partnerships	Strong Financials
with innovators and	to invest in growth
industry leaders	opportunities

© Genmab

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Consistent, Solid Track Record Fuels Our Growth:

Over 20 Years of Achievements

• 38 Cumulative INDs since 1999
• 22 Genmab-created product candidates in ongoing clinical trials

• Multiple Genmab-created products approved
• 8 Years of profitability & expanding top line
• Investing in our capabilities

• Experienced, international management team
• Dual-listedin US & DK with 2019 US IPO

© Genmab	5
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The Genmab Difference

	Strong pipeline
	of 1st-in-class /
	best-in-class
	products
Deep insight into	Proprietary technologies
antibody biology	allow us to build a
& disease targets	world-class pipeline

Match in-house expertise with

strategic partnerships

© Genmab	6
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Innovative Clinical Pipeline: Genmab Proprietary* and Partnered Products - Most Advanced Development Phase

Phase 1	Phase 1/2	Phase 2	Phase 3†		Approved‡

Genmab	1	DuoBody-PD-L1x4-1BB1
DuoBody-CD40x4-1BB	Epcoritamab2
owned	DuoHexaBody-CD372	9
products	DuoBody-CD3x5T42	Tisotumab vedotin
≥50%

HexaBody-DR5/DR5

Products owned by 3rd party

Talquetamab3	Teclistamab3	Amivantamab3	Daratumumab3
JNJ-637091783	Mim86		Ofatumumab10
JNJ-638980813	Camidanlumab tesirine7		Teprotumumab11
JNJ-675712443	PRV-0158
JNJ-702189023
HuMax-IL84
Lu AF824225

*Products where Genmab has ownership of at least 50%

• For epcoritamab and tisotumab vedotin, Phase 3 FPD anticipated 2021
  ‡See local prescribing information for full indications / safety information
  150/50 co-development with BioNTech 250/50 co-development with AbbVie; 3Development by Janssen Biotech, Inc; 4Development by BMS; 5Development by Lundbeck; 6Development by Novo Nordisk, approved in the US; 7Development by ADC Therapeutics; 8Development by Provention Bio; 950/50 co-development with Seagen; 10Development by Novartis; 11Development by Horizon Therapeutics, approved in the US

© Genmab	7
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Not for promotional use.

Investing in the Breadth & Depth of our Pipeline

R&D Engine

• DuoBody® technology
• HexaBody® technology
• DuoHexaBody® technology
• HexElect® technology

Expanding & maturing trials for our

proprietary* assets

8 assets

8 assets

6 assets

5 assets

2 assets	4 assets

2016

2017

2018

2019

2020

2021e

© Genmab

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Phase 1 Phase1/2 Phase 2 Phase 3

*Genmab owned ≥50%; number of active clinical trials in 2021 is estimated 8

Tisotumab Vedotin

in Collaboration with Seagen

First-in-class

• Antibody-drugconjugate (ADC) directed against Tissue Factor (TF)

Very favorable efficacy with manageable safety profile

• Very favorable overall response in Phase 2 innovaTV 204 study vs. prior reported SoC, with manageable safety profile

Broad population in innovaTV 204 study

• Not restricted to biomarker selection
• Pre-treatedas per current SoC
• Regardless of histology

In Phase 2 innovaTV 204 study: Tisotumab vedotin demonstrated very favorable, durable responses and a manageable safety profile in 2L+ r/m cervical cancer patients

© Genmab	9
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Epcoritamab

in Collaboration with AbbVie

Novel MoA

• Next-generation,bispecific antibody

Potential best-in-class

• Potential for Improved efficacy & safety

Subcutaneous administration

• Enhanced convenience & ease of
  administration for HCPs & patients compared to IV infusion

Comprehensive development plan

• Trials in several B-cell malignancies
• Trials across multiple lines of therapy
• Exploration as both monotherapy and in combination

Currently investigated in several clinical trials across B- cell NHL histologies / in various combinations: Phase 2 expansion part is ongoing, as is Phase 1b exploring combinations with multiple SoC treatments. Phase 3 initiated in DLBCL, FPD anticipated 2021

© Genmab 10

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Epcoritamab: Potential Best-in-Class

Updated Dose-escalation Data Presented at ASH 2020*

Novel, off-the-shelf therapy with convenient SubQ administration

• Phase 1/2 study (NCT03625037) in patients with relapsed, progressive or refractory B-cell lymphoma
• RP2D: 48 mg reached with no DLTs; MTD not reached

Demonstrated substantial single-agent activity in heavily pre-treated patients with B-NHL

• Patients with DLBCL receiving ≥48 mg:
• Responses achieved in 10 of 11 evaluable patients, including CR in 6 patients
• All patients receiving ≥12 mg who achieved
  CR remain in remission
• Patients with FL receiving ≥12 mg: ORR was
  80%, with 60% CR
• Encouraging responses, including CR, observed in 2 of 4 evaluable patients with
  MCL

Favorable safety profile

• Supports potential for combination therapies / future outpatient administration
• CRS events were Grade 1 and 2

Binds to distinct epitope

• Different from that of rituximab and obinutuzumab:
• Has potential to be partner of choice in combinations with SoC therapies containing rituximab

© Genmab

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*"Subcutaneous Epcoritamab Induces Complete Responses with an Encouraging Safety Profile Across Relapsed/Refractory B-cell11 Non-Hodgkin Lymphoma Subtypes, Including Patients with Prior CAR-T Therapy: Updated Dose-escalation Data" Hutchings, et al.

DuoBody-PD-L1x4-1BB(GEN1046) & DuoBody-CD40x4-1BB(GEN1042) in Collaboration with BioNTech

GEN1046

• First-in-classbispecific next generation checkpoint immunotherapy
• Designed to enhance T-cell and NK cell function through conditional 4-1BBco-stimulation
• Simultaneously blocking the PD-L1 axis
• Enhances proliferation and cytokine production of activated T-cells
• Activates immune cells in the tumor-draining lymph nodes
• Induces tumor regression in vivo.

GEN1042

• First-in-classbispecific antibody
• Designed to conditionally activate both CD40- expressing antigen- presenting cells (APC) and 4-1BB-expressing T cells
• Conditionally activates T cells and APC in the presence of CD40-expressing cells

© Genmab 12

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Earlier Stage Clinical Development

DuoHexaBody-CD37

• Combination of DuoBody & HexaBody platforms
• Novel target for hematological malignancies
• Unique MoA
• Dose escalation ongoing
• 50:50 co-development with AbbVie

DuoBody-CD3x5T4		HexaBody-DR5/DR5
▪	Based on proprietary		▪	First HexaBody in the clinic
▪	DuoBody Technology		▪	Targets 2 distinct DR5
CD3 bispecific, T cell		▪	epitopes
	mediated cytotoxicity of		DR5 clustering & DR5
▪	5T4+ tumor cells		▪	agonist activity
5T4 expressed on		Dose escalation ongoing in
	multiple solid tumors,			multiple solid tumors
	limited expression in
▪	healthy tissue
Dose escalation ongoing
▪	50:50 co-development			© Genmab	13
	with AbbVie	For Investor audience only. Not for public information or use. Not for promotional use.

Approved Antibody Therapeutics Created by Genmab

DARZALEX® (daratumumab) &

DARZALEX FASPRO® Redefining

Treatment of Multiple Myeloma*

Collaboration with Janssen Biotech, Inc.: Genmab entitled to tiered royalty of 12-20% of net sales

DARZALEX FASPRO first and only SubQ CD38 mAb approved in U.S. for treatment of MM

Kesimpta® (ofatumumab)

Approved in U.S. in Relapsing

Multiple Sclerosis*

Collaboration with Novartis: Genmab entitled to royalty of 10% of net sales

First B-cell therapy that can be self- administered by patients at home using Sensoready® autoinjector pen

TEPEZZA® (teprotumumab)

Approved in U.S. in Thyroid Eye disease (TED)*

Developed and commercialized by Horizon Therapeutics: Genmab entitled to mid single digit royalty of net sales

First and only U.S. FDA-approved medicine for treatment of TED

*See local prescribing information for full indication and safety information.	© Genmab	14
	For Investor audience only. Not for public information or use. Not for promotional use.

Building Our Capabilities

Research

Track record of success and investing for tomorrow

• State-of-the-artfacilities
• Novel technologies and formats
• External innovation

Development

Scaling up to expand from early to late stage

• Clinical development & operations
• Disease area expertise
• Medical Affairs, Safety and Regulatory

Commercialization

Step change in our business

• Leadership team in place
• Focused on U.S. and Japan
• Building expanded team

Enabling functions to support growth & manage risk

Data Sciences to drive insights

© Genmab 15

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2020 Guidance: Recurring Revenue Growth and Focused Investments

Income	DKKM	~USDM*		Key Observations
Statement		Summary P&L
			• DARZALEX royalties of ~DKK 4.1bn to ~DKK 4.5bn to
Revenue	9,250 - 9,850	1,423 - 1,515
		drive recurring revenue growth
				•	Nearly 90% of USD 750M upfront from AbbVie collab.
Operating	(3,850) - (3,950)	(592) - (608)
		recognized immediately
Expenses
			• Growth in operating expenses driven by expanding and
Operating
5,350 - 5,950	823 - 915			accelerating our clinical pipeline
Income
			DARZALEX Sales of USD 3.9bn - USD 4.2bn
				• Significant opportunity for growth in 1L MM market
				• SubQ DARZALEX approvals in H1 in U.S. & EU
				• Market share gain in the U.S. and RoW driven by uptake
					in all lines of treatment
				•	8 approved indications in U.S., late stage to 1L MM

*2020 Guidance - November 4, 2020 / USD 1.00 = DKK 6.50.	© Genmab	16
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Key 2021 Priorities: Build a Strong Differentiated Product Pipeline & Bring Own Medicines to Market

Priority	 Targeted Milestones
	» Tisotumab vedotin1 - U.S. FDA decision on BLA and progress to market
Bring our own medicines to	» Tisotumab vedotin - JNDA submission in cervical cancer
patients	» Epcoritamab2 - acceleration & maximization of development program by advancing
	expansion cohorts and initiating additional Phase 3 trials
	» DuoBody-PD-L1x4-1BB3 - expansion cohort data
Build world-class differentiated	» DuoBody-CD40x4-1BB3 - dose escalation data
product pipeline	» Tisotumab vedotin - data in other tumor indication
	» Earlier stage products - progress & expand innovative product pipeline
Become leading	» Operational commercialization model in US & Japan
integrated innovation
» Further strengthen solid financial foundation
powerhouse

1. 50:50 dev. w/ Seagen; 2. 50:50 dev w/ AbbVie; 3. 50:50 dev. w/ BioNTech	© Genmab	17
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Well On Track to Reaching Our 2025 Vision

Successful track record

Genmab profile today

			Strategy
Focus Areas			▪ Focus on core competence
			▪ Turn science into medicine
			▪ Build a profitable and successful
			biotech
Progress			Sustained Execution

2025 Vision

By 2025, our own product has transformed cancer treatment and we have a pipeline of knock-your-socks-off antibodies

Building fully integrated biotech innovation powerhouse

2 potential near-term Genmab owned product launches

Imperative to invest

Remain focused and disciplined

© Genmab 18

For Investor audience only. Not for public information or use. Not for promotional use.

© Genmab 19

For Investor audience only. Not for public information or use. Not for promotional use.