Company: LGNZZ
Filing Date: 2025-04-22
Form Type: DEF 14A
Source: 0000886163-25-000025
Chunk: 76

Company: LIGAND PHARMACEUTICALS INC
Filing Date: 2025-04-22
Form: DEF 14A
Chunk 76
---
 Officer and Secretary   |

April 22, 2025

If you would like a copy of our annual report on Form 10-K for the fiscal year ended December 31, 2024 that we filed with the SEC, we will send you one without charge. Please write to: 555 Heritage Drive, Suite 200, Jupiter, Florida 33458, Attn: Corporate Secretary. All of our SEC filings are also available in the Investors section of our website at www.ligand.com.

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#### Appendix A
We report adjusted net income from continuing operations and adjusted earnings per diluted share in addition to, not as a substitute for, and does not consider such measures superior to, financial measures calculated in accordance with GAAP. We also report a core calculation for each of the foregoing measures which excludes any realized gain from sales of Viking Therapeutics common stock. Additionally, adjusted earnings per diluted share is a key component of the financial metrics utilized by the Board to measure, in part, management’s performance and determine significant elements of management’s compensation.

### RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

### LIGAND PHARMACEUTICALS INCORPORATED

### ADJUSTED FINANCIAL MEASURES
<div align='center'>(Unaudited, in thousands, except per share amounts)</div>

|                                                                          |     | 2024 | Three months ended December 31, |     | 2023 |         |     | 2024 |   Year ended 
 December 31, |     | 2023 |         |
|:-------------------------------------------------------------------------|:----|:-----|--------------------------------:|:----|:-----|--------:|:----|:-----|-------------:|:----|:-----|--------:|
| Net income (loss) from continuing operations                             |     | $    |                         -31,088 |     | $    |  18,188 |     | $    |       -4,032 |     | $    |  53,819 |
| Adjustments:                                                             |     |      |                                 |     |      |         |     |      |              |     |      |         |
| Share-based compensation expense                                         |     |      |                           7,524 |     |      |   5,721 |     |      |       41,089 |     |      |  25,743 |
| Non-cash interest expense(1)                                             |     |