Regeneron Pharmaceuticals — Apr 29, 2026 release

Repurchases may be made from time to time at management's discretion through a variety of methods. The program has no time limit and can be discontinued at any time. In April 2026, the Company's board of directors declared a cash dividend of $0.94 per share on the Company's common stock and Class A stock, payable on June 4, 2026 to shareholders of record as of May 20, 2026. 6 2026 Financial Guidance* The Company's full year 2026 financial guidance consists of the following components: 2026 Guidance Prior Updated GAAP R&D $6.450–$6.680 billion Unchanged Non-GAAP R&D (a) $5.900–$6.100 billion Unchanged GAAP SG&A $2.860–$3.040 billion Unchanged Non-GAAP SG&A (a) $2.500–$2.650 billion Unchanged GAAP gross margin on net product sales 79%–80% 77%–78% Non-GAAP gross margin on net product sales (a) 83%–84% Unchanged GAAP COCM $940 million–$1.020 billion $955 million–$1.035 billion Non-GAAP COCM (a) $940 million–$1.020 billion Unchanged Capital expenditures $1.100–$1.300 billion $1.100–$1.200 billion GAAP effective tax rate 12%–14% Unchanged Non-GAAP effective tax rate (a) 13%–15% Unchanged * The Company's 2026 financial guidance does not assume the completion of any business development transactions not completed as of the date of this press release 7 A reconciliation of full year 2026 GAAP to non-GAAP financial guidance is included below: Projected Range ($ in millions) Low High GAAP R&D $ 6,450  $ 6,680  Stock-based compensation expense (5