Transactions in Connection with Share Buy-back Program

Genmab A/S (GMAB) announced transactions executed under its share buy-back program from June 9 to June 13, 2025, repurchasing 400 shares for a total value of DKK 592,200.50. Cumulatively, the company has bought back 2,080,711 shares for DKK 2,706,417,889.19 under the program initiated on March 25, 2025, with the aim of reducing capital and fulfilling commitments under the Restricted Stock Unit program, and holds 2,532,438 treasury shares, representing 3.95% of total share capital.

Analysis

Genmab A/S is progressing with its share buy-back program, initiated on March 25, 2025, designed to repurchase up to 2.2 million shares for capital reduction and to meet Restricted Stock Unit program obligations, with an expected completion no later than July 10, 2025. Transactions executed from June 9 to June 13, 2025, involved the repurchase of 400 shares for DKK 592,200.50, bringing cumulative repurchases to 2,080,711 shares for DKK 2,706,417,889.19. This activity has increased Genmab's treasury shares to 2,532,438, representing 3.95% of total share capital and voting rights. The relatively small number of shares repurchased during this specific five-day period (400 shares, with zero on one day and 100 on others) occurred at average prices between DKK 1,474.88 and DKK 1,490.38. The buy-back program, conducted under EU's MAR and Safe Harbour Regulations, is nearing its stated share repurchase target. The associated sentiment for this update is mildly positive (GMAB ticker sentiment: 0.4), reflecting the shareholder-friendly nature of buybacks, although its market impact is rated as low (0.1).

Key Decisions for Investors

• Recognize that Genmab's share buy-back program is approaching its targeted 2.2 million shares and its July 10, 2025 completion deadline, with 2,080,711 shares already repurchased.
• Monitor the execution of the remaining portion of the buy-back program, considering the recently observed low daily repurchase volumes during the June 9-13 period, which may suggest either price sensitivity, proximity to the program's limit, or a strategic pacing of purchases.
• Evaluate the implications of Genmab holding 3.95% of its total share capital as treasury shares for its future capital allocation strategy, including potential for RSU settlements or other corporate actions beyond the immediate scope of this buy-back.