GAAP Financial Highlights: Q3'23 (in millions, except per share amounts) 2023 Share Repurchase Program Activity (in millions, except per share amounts) 13 Commercial Update TKI = tyrosine kinase inhibitor RCC = renal cell carcinoma HCC = hepatocellular carcinoma • Strong demand and new patient starts continue to drive growth Sources: Internal Exelixis data IQVIA National Prescription Audit and BrandImpact data through 9/30/23 Safe Harbor Statement • Q3'23 collaboration services revenues primarily consist of ...

I'll turn now to XB002, our antibody drug conjugate which targets tissue factor and incorporates a modified aura statin as the payload. We've initiated expansion in multiple cohorts at two different doses which will allow us to determine the best dose to take forward into registrational studies and combinations while also fulfilling project optimists. Combinations with nivolumab and with bevacizumab are also underway and data here will serve to inform a broader clinical development program. Finally, I'm ver ...

Financial Data and Key Metrics Changes - The company reported total revenues of approximately $470 million for Q2 2023, which included cabozantinib franchise net product revenues of $409.6 million [116] - GAAP net income for Q2 2023 was approximately $81.2 million or $0.25 per share, while non-GAAP net income was approximately $100.3 million or $0.31 per share [88] - Cash and investments as of June 30, 2023, were approximately $2.1 billion, providing flexibility for investments and shareholder returns [75] Business Line Data and Key Metrics Changes - CABOMETYX net product revenues were $403.3 million, including approximately $21 million in clinical trial sales [73] - CABOMETYX TRx volume grew by 9% year-over-year in Q2 2023 and 4% compared to Q1 2023 [77] - The cabozantinib franchise net product revenues in the US grew 18% year-over-year in Q2 2023 compared to Q2 2022 [83] Market Data and Key Metrics Changes - CABOMETYX maintained a leading TKI market basket share at 39% [77] - The overall survival data for CABOMETYX plus nivolumab showed a median overall survival of 49.5 months, representing a 14-month improvement over the comparator arm [122] - The company is seeing strong demand and new patient starts, reinforcing its leadership position in the RCC marketplace [121] Company Strategy and Development Direction - The company is focused on building a pipeline of clinically and commercially differentiated medicines for cancer patients with high unmet medical needs [68] - Business development activities remain a priority, with ongoing discussions to access new clinical assets [85] - The company plans to present its R&D efforts at an investor event on December 2, 2023, in New York City [69] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth potential of CABOMETYX into the second half of the year, reiterating full-year 2023 financial guidance [149] - The company is excited about the future and the strength of its balance sheet, which allows for continued investment in R&D and business development [12][75] - Management highlighted the importance of emerging data for both Zanzalintinib and XB002, indicating a positive outlook for these assets [154] Other Important Information - The company entered into a settlement and license agreement with Teva to resolve patent litigation, allowing Teva to market a generic version of CABOMETYX in the US starting January 1, 2031 [70][86] - The gross to net deductions for the cabozantinib franchise in Q2 2023 were 27.3%, lower than the previous quarter, primarily due to lower Medicare Part-D and co-pay assistance expenses [117] Q&A Session Summary Question: Can you comment on the rationale for keeping the original guidance and expectations for cabo growth? - Management reiterated confidence in CABOMETYX's growth potential based on strong performance in the first half of the year [149] Question: What are the scenarios for COSMIC-313 with upcoming data? - Management is focused on the data and its implications for supplemental NDA filing, emphasizing the importance of the upcoming results [5] Question: How does the company view the competitive landscape for TKIs in the RCC market? - CABOMETYX continues to lead the TKI market with strong overall survival data, differentiating it from competitors [122] Question: Are there plans to review the current cost base for efficiencies? - Management indicated that cost efficiencies are being evaluated as part of ongoing strategic discussions [10] Question: What is the company's strategy regarding business development? - The company remains committed to business development activities to access new clinical assets while also focusing on internal R&D efforts [49]

Table of Contents FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the quarterly period ended June 30, 2023 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 000-30235 EXELIXIS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Ide ...

Exelixis, Inc. (NASDAQ:EXEL) Q1 2023 Earnings Conference Call May 9, 2023 5:00 PM ET Company Participants Susan Hubbard - EVP, Public Affairs and IR Mike Morrissey - President and CEO Chris Senner - CFO P.J. Haley - EVP, Commercial Dana Aftab - Chief Scientific Officer Vicki Goodman - Chief Medical Officer Peter Lamb - Chief Scientific Officer Conference Call Participants Asthika Goonewardene - Truist Securities Andy Hsieh - William Blair Chi Fong - Bank of America Jay Olson - Oppenheimer Silvan Tuerkcan - ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 000-30235 EXELIXIS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Id ...

or Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock $.001 Par Value per Share EXEL The Nasdaq Stock Market LLC S ...

Table of Contents (Exact name of registrant as specified in its charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 000-30235 EXELIXIS, INC. Delaware 04-3257395 (State or other jurisdiction of incorporation or organ ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to | --- | |------------------------------------------------------------------------| | | | Commission File Number: 000-30235 | | | | EXELIXIS, INC. | | (Ex ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended January 3, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 000-30235 EXELIXIS, INC. (Exact name of registrant as specified in its charter) Delaware 04-3257395 (State or other jurisdiction of incorporation or organization) (I ...