BIOMARIN PHARMACEUTICAL INC

Non-GAAP Information

This Proxy Statement includes Non-GAAP Diluted EPS and Core Operating Margin that are not calculated in accordance with U.S. Generally Accepted Accounting Principles (GAAP). Non-GAAP Diluted EPS is defined by the Company as Non-GAAP Income (Loss) divided by Non-GAAP Weighted-Average Diluted Shares Outstanding. Non-GAAP Income is defined by the Company as GAAP Net Income excluding amortization of intangible assets, stock-based compensation expense and, in certain periods, certain other specified items. The Company also includes a Non-GAAP adjustment for the estimated tax impact of the reconciling items. Non-GAAP Weighted-Average Diluted Shares Outstanding is defined by the Company as GAAP Weighted-Average Diluted Shares Outstanding, adjusted to include any common shares issuable under the Company’s equity plans and convertible debt in periods when they are dilutive under Non-GAAP. The Company defines Core Operating Margin as total revenues less: (a) cost of sales, (b) research and development expense, (c) selling, general and administrative expense, and (d) intangible asset amortization, as determined for such period in accordance with U.S. GAAP, subject to specified adjustments for the foreign exchange currency rates assumed for purposes of setting the targets and business development transactions with an upfront payment of $100 million or more, divided by total revenues.

BioMarin regularly uses both GAAP and Non-GAAP measures and expectations internally to assess its financial operating performance and evaluate key business decisions related to its principal business activities: the discovery, development, manufacture, marketing and sale of innovative biologic therapies. The Company believes that providing this information provides additional insight into the Company’s business and reflect how the Company manages its business internally, sets operational goals and forms the basis of its executive incentive programs.

Non-GAAP financial measures are not meant to be considered in isolation or as a substitute for, or superior to comparable GAAP measures and should be read in conjunction with the consolidated financial information prepared in accordance with GAAP. Investors should note that the Non-GAAP information is not prepared under any comprehensive set of accounting rules or principles and does not reflect all of the amounts associated with the company’s results of operations as determined in accordance with GAAP. Investors should also note that these Non-GAAP financial measures have no standardized meaning prescribed by GAAP and, therefore, have limits in their usefulness to investors. In addition, from time to time in the future there may be other items that the Company may exclude for purposes of its Non-GAAP financial measures; likewise, the Company may in the future cease to exclude items that it has historically excluded for purposes of its Non-GAAP financial measures. Because of the Proxy Statement may be calculated differently from, and therefore may not be directly comparable to, similarly titled measures used by other companies.

The following tables present the reconciliation of GAAP reported to Non-GAAP adjusted financial information.

Appendix B

Reconciliation of GAAP Information to Non-GAAP Information(1)

(In millions of U.S. dollars, except per share data)

(unaudited)

(1)Certain amounts may not sum or recalculate due to rounding.

(2)These amounts were included in SG&A and represent severance costs incurred in the acquisition of Inozyme in July 2025.

(3)These amounts were included in SG&A and represent impairment of long-lived assets, severance and other restructuring costs related to the company's 2025 strategic decision to voluntarily withdraw ROCTAVIAN from the market and 2024 corporate initiatives and the associated organizational redesign efforts.

(4)Represents impairment loss on non-marketable equity securities recorded in Other income (expense), net.

(5)Represents a payment triggered by a third party's attainment of a regulatory approval milestone related to previously sold intangible assets.

(6)Effective January 1, 2024, the Company changed its presentation for foreign currency transaction gains and losses resulting from remeasurement and idle plant costs within its Consolidated Statements of Income. See Note 1 to the consolidated financial statements contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the SEC on February 24, 2025, for more information.