Genmab Announces Initiation of Share Buy-Back Program

Company Announcement

• Repurchase of up to DKK 3.5 billion worth of shares
• Completion expected no later than December 16, 2024

COPENHAGEN, Denmark; March 15, 2024 – Genmab A/S (Nasdaq: GMAB) announced today that it is initiating a share buy-back program. The share buy-back program will be undertaken on the terms set out below and in accordance with Regulation (EU) No. 596/2014 (‘MAR’) and the Commission Delegated Regulation (EU) 2016/1052, also referred to as the “Safe Harbour Regulation.”

Time frame 
The share buy-back program will start on March 18, 2024, and is expected to end no later than December 16, 2024 (unless Genmab terminates or suspends the program).  

Terms
Genmab has entered into a non-discretionary instruction with Morgan Stanley Europe SE (‘Morgan Stanley’) in relation to the share buy-back program. Morgan Stanley will make its own trading decisions and act independently of and without influence or involvement from Genmab. Under this share buy-back program Genmab may repurchase up to DKK 3.5 billion worth of shares.

Any purchase of ordinary shares done in relation to this announcement will be carried out on Nasdaq Copenhagen and Multilateral Trading Facilities and executed in accordance with the price and volume conditions set out in the Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the conditions applicable to buyback programs and stabilization measures, and Genmab’s general authority to make market purchases of ordinary shares.

Shares acquired under the program cannot be purchased at a price exceeding the higher of (i) the price of the latest independent transaction on the trading venue where the purchase is carried out and (ii) the price of the highest independent bid the trading venue where the purchase is carried out at the time of the transaction. The total number of shares that may be purchased on a single trading day on each trading venue may not exceed 25% of the average daily trading volume over the preceding 20 trading days on such trading venue.

As of March 14, 2024, Genmab holds 863,972 treasury shares equal to 1.31% of the share capital.

Upon initiation of the program, Genmab will issue a weekly announcement in respect of transactions made under the program.

About Genmab
Genmab is an international biotechnology company with a core purpose guiding its unstoppable team to strive towards improving the lives of patients through innovative and differentiated antibody therapeutics. For 25 years, its passionate, innovative and collaborative team has invented next-generation antibody technology platforms and leveraged translational, quantitative, and data sciences, resulting in a proprietary pipeline including bispecific T-cell engagers, next-generation immune checkpoint modulators, effector function enhanced antibodies, and antibody-drug conjugates. To help develop and deliver novel antibody therapies to patients, Genmab has formed 20+ strategic partnerships with biotechnology and pharmaceutical companies. By 2030, Genmab’s vision is to transform the lives of people with cancer and other serious diseases with knock-your-socks-off (KYSO) antibody medicines.