Roche : Annual Report 2024 (ar24e)

Published: 2025-01-30 04:07:04 ET ROG.SW

Annual Report 2024

This picture shows special nerve cells, so-called motor neurons, which are derived from human stem cells. The neurons are guided through tiny, maze-like channels, which helps researchers to understand their growth and connections and to learn about nerve diseases and treatments.

Photo: James Keaney, pRED scientist

Annual Report 2024  |  Roche  1

We drive innovation

It starts with an idea - nurtured by the belief that we can always do better. Propelled by curious minds pursuing scientific excellence and pushing the boundaries of what is possible. An evolution centred around a single anchor - innovation.

In all our innovation engines around the world, we foster an environment where our researchers endeavour to shape the future of healthcare. In 2024, we proudly opened a new R&D facility in Switzerland. The Roche Innovation Center Basel is equipped with state-of-the-art labs and technology to foster creativity and collaboration in tackling healthcare's biggest challenges and to advance science, so we all have more time with the people we love.

Immune cells seen in gastrointestinal cancer tissue - their presence in many solid tumours suggests an ongoing immune reaction and, therefore, the manipulation of them for therapeutic purposes represents an exciting future avenue of research.

Photo: Miguel Camacho, Marius Harter, Irineja Cubela, pRED scientists

Annual Report 2024  |  Roche  3

Contents

Letters to shareholders

5

Sustainability Report

15

How we contribute

151

Corporate Governance

163

Remuneration Report

185

roche.com/reporting

These cells are macrophages derived from induced pluripotent stem cells, stained for various subcellular structures and used in complex functional cellular assays to examine processes such as phagocytosis, migration and cytokine release.

Photo: Ramona Schäfer, Nadine Dahm, Simon Gutbier, pRED scientists

Letters to shareholders  |  Roche  5

Letters to shareholders

6  |  Contents  Letters to shareholders  Sustainability Report  How we contribute  Corporate Governance  Remuneration Report

Dr Severin Schwan

Chairman's shareholder letter  |  Roche  7

Dear Shareholders

Preventing, stopping and curing diseases - this is what Roche is all about. Our mission is to improve people's quality of life and help them live longer through scientific excellence. And this was our focus again last year.

It was a successful year overall. Our sales grew significantly in 2024 due to strong demand for our innovative diagnostic tests and medicines. We were also able to advance medical science, with key launches like our new breast cancer medicine Itovebi or our fully automated mass spectrometry solution.

On behalf of the entire Board of Directors,

I would like to express my sincere thanks to our CEO Thomas Schinecker, his leadership team and all our employees for their unwavering commitment to the well-being of patients around the world.

The success of Roche's innovative strength is also reflected in our financial results. In total, sales rose by 7%* at constant exchange rates. IFRS net income came to CHF 9.2 billion. Based on our strong business performance, we will propose a dividend of CHF 9.70 per share at the Annual General Meeting on 25 March 2025. Subject to your approval, this would be the 38th consecutive increase.

As the geopolitical and economic tension continues around the world, populism, protectionism and the weakening of the rule of law threaten international economic relations. As a Swiss company in particular, we depend on these relationships, as well as on a business-friendly regulatory environment. This includes the protection of intellectual property, a moderate tax policy and a liberal labour market - fundamental prerequisites to sustainably enable innovation for the benefit

of all. This is very much in contrast to short-term oriented subsidy policies and over-regulation.

Prevention and access to diagnostics and innovative therapies are an investment in the future - and the best possible lever for reducing the burden on healthcare systems in the long term. After all, people can best contribute to a country's productivity and prosperity when they are in good health. It is therefore in the interest of every nation to preserve the health of its citizens. The key to this lies in innovation, dialogue and close collaboration between governments and the private sector. This is demonstrated by the many projects around the world where we work with local partners to bring modern diagnostics and effective treatments to people in remote and economically disadvantaged regions.

Innovation creates prosperity. Therefore we will continue to invest along the entire value chain to help patients around the world even earlier, more effectively and more sustainably.

With a total investment of CHF 1.2 billion, our recently opened Roche Innovation Center Basel is a perfect example of this. As one of the most modern research centres in the world, it focuses on interdisciplinary cooperation, with all specialised fields - biology, chemistry, IT - coming together.

I am convinced innovation happens precisely at such intersections. The combination of short distances and innovative tools with the inspiring blend of art and architecture promotes exchange and creates not just a workplace but a place for meaningful encounters: a place where people love to come to. This is exactly what our employees are saying, which makes me very proud.

The new Roche Innovation Center also shows how we are advancing our sustainability goals, including maximising energy efficiency and using recycled concrete, rooftop solar panels and smart concepts for water-saving. Last year, we also further refined our company-wide sustainability strategy. In the area of climate protection, we set ourselves the

*  All growth rates and year-on-year comparisons are at constant exchange rates (CER; 2023 average) and all total figures are reported in Swiss francs.

8  |  Contents  Letters to shareholders  Sustainability Report  How we contribute  Corporate Governance  Remuneration Report

Roche Board of Directors Dr Severin Schwan (1967), Chairman, D*, E

on 31 December 2024 André Hoffmann (1958), Vice-Chairman, representative of the shareholder group with pooled voting rights, A*, C, D, E, G Dr Jörg Duschmalé (1984), representative of the shareholder group with pooled voting rights, B, C*, E, G

Dr Patrick Frost (1968), B*, E, G

Anita Hauser (1969), C, D, E, G

Prof. Dr Akiko Iwasaki (1970), A, E, G Prof. Dr Richard P. Lifton (1953), C, E, G Dr Jemilah Mahmood (1959), A, E, G Dr Mark Schneider (1965), B, E, G

Dr Claudia Suessmuth Dyckerhoff (1967), A, B, E, G

A  Corporate Governance and Sustainability Committee  |  B Audit Committee E  Non-executive director  |  F  Executive director (currently no member)  |

|  C  Remuneration Committee  |  D  Chairman's/Nomination Committee  G  Independent member of the Board of Directors  |  *  Committee chairperson

Disclaimer

Roche Holding AG published this content on January 30, 2025, and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on January 30, 2025 at 09:06:02.947.