#1Conference call presentation H1 2022/23 Kjell, Denmark Making life easier STRIVE25: SUSTAINABLE GROWTH LEADERSHIP Ostomy Care | Continence Care | Wound and Skin Care | Interventional Urology | Voice and Respiratory Care Coloplast#2Forward-looking statements The forward-looking statements contained in this presentation, including forecasts of sales and earnings performance, are not guarantees of future results and are subject to risks, uncertainties and assumptions that are difficult to predict. The forward-looking statements are based on Coloplast's current expectations, estimates and assumptions and based on the information available to Coloplast at this time. Heavy fluctuations in the exchange rates of important currencies, significant changes in the healthcare sector or major changes in the world economy may impact Coloplast's possibilities of achieving the long-term objectives set as well as for fulfilling expectations and may affect the company's financial outcomes. 2 Coloplast#3Solid Q2 2022/23, in line with expectations. 3 Organic growth 8% Reported EBIT margin ROIC 28%* 19%** *before special items of 20 million DKK related to the Atos Medical integration **after tax and before special items Kjell | Denmark Coloplast#4Strategic highlights from Strive25 - Sustainable growth leadership • Growth US Chronic Care Strong performance in the US Ostomy Care business, where Coloplast continues to advance its competitive position Premier Inc. has renewed Coloplast's group purchasing agreement. The contract, which is multi-source, took effect on April 1, 2023, and is effective for three years China reopening • Coloplast is closely monitoring the market development in China and views the reopening as encouraging for the business on a mid- to long-term horizon • China remains a key strategic market for Coloplast and an important contributor to Coloplast's organic growth ambition in the Strive25 period Strive 25 SUSTAINABLE GROWTH LEADERSHIP Innovation Chronic Care - Clinical Performance Programme • . • Luja™, the new male intermittent catheter with a Micro-hole Zone Technology, has been launched in four markets, with positive initial feedback. The launch is progressing well, and the product is expected to be available in key markets over the next 9 months The results of the first pivotal clinical study have been published, showing a significant improvement in bladder emptying with Luja, compared to a competitor catheter* Heylo™, the new digital leakage platform, is in pilot launch in Germany and the UK and has been well-received by users. The clinical studies are on track and the product is expected to launch in 2023 Sustainability Improving products and packaging • Production waste recycling was 74% in H1 2022/23, up 10%-p from H1 2021/22. The solid progress reflects a continued scale up of the recycling partnership in Hungary Reducing emissions • Scope 1 and 2 emissions were reduced by 15% in H1 2022/23 vs. the base year 2018/19, positively impacted by the installation of electric heat pumps and electric equipment at production sites in Hungary and China in an effort to phase out natural gas Responsible operations - employee engagement Employee engagement score of 8.1, ahead of the healthcare industry benchmark of 7.6 Operational efficiency Global Operations Plan (GOP) 5 - Automation programme • Due to delays from longer component lead times, the timeline of the GOP5 automation programme is now extended into Q1 2023/24, from previously end of FY 2022/23 The ambition to release around 1,000 FTEs is unchanged Global Business Support and IT landscape • • Positive scale effect driven by further utilization of Business Centre and IT infrastructure. The integration of Atos Medical IT and finance infrastructure is progressing well - IT infrastructure integration will be finalized in May Coloplast remains on track to deliver estimated run-rate operational synergies of up to DKK 100 million, with full impact from FY 2023/24 4 Luja is a medical device for which CE-mark has been affixed. Product availability is subject to regulatory process of individual countries and is not guaranteed. *Study shows significant improvement in bladder emptying with Coloplast Luja™ compared to competitor catheter Coloplast#5Solid organic growth of 8% in H1 2022/23 with solid momentum across business areas and geographies, excluding China H1 2022/23 revenue by business area H1 2022/23 revenue by geography 5 Business area Ostomy Care Continence Care Reported revenue FY DKKm Organic growth Share of organic Geographic FY growth area 4,478 7% 36% European markets 6% 29% 3,951 Reported revenue FY DKKm FY Organic growth Share of organic growth 6,878 6% 43% Voice & 9% 3% Respiratory Care* 959 Other developed markets 3,187 11% 36% Wound & Skin 1,425 7% 12% Care Emerging markets 2,101 9% 21% Interventional 1,353 14% 20% Urology Coloplast Group *Part of organic growth since February 1, 2023 12,166 8% 100% Coloplast Group 12,166 8% 100% Coloplast#6H1 reported growth was up 14%, with ~6%-points impact from the Atos Medical acquisition and limited contribution from currencies H1 2022/23 Revenue development (DKKm) 1,495m DKK 633 57 12,166 804 10,671 Reported Organic growth revenue H1 21/22 (constant currencies) Acquired growth Currency effect Reported revenue H1 22/23 Growth 7.5% 5.9% 0.5% 14.0% • H1 2022/23 highlights Organic growth was 8% or DKK 804 million, driven by: • • • • Solid growth in Chronic Care across regions, ex. China China detracted from growth in Ostomy Care, as expected, negatively impacted by COVID-19 Continence Care growth was driven by solid performance of the Intermittent Catheters portfolio, partly offset by Collecting Devices which detracted from growth due to backorders Solid performance in Voice & Respiratory Care, with contributions from both Laryngectomy and Tracheostomy Wound Care performance driven by good momentum in Europe, partly offset by negative impact from backorders Strong momentum in Interventional Urology with broad- based growth, led by the US Men's Health business Acquired revenue contributed 6%-points to reported growth or DKK 633 million, reflecting 4 months impact from Atos Medical Foreign exchange rates had limited impact on reported growth (positive impact of around 50 bps), mainly related to appreciation of the USD against the DKK 6 Coloplast#7Reported EBIT margin of 28%¹ in H1, reflecting an impact from cost inflation, increased level of commercial activity and amortisation costs H1 2022/23 EBIT margin development before special items (%) 31.3 -1.3 -1.6 -0.4 0.5 -0.1 28.3 -0.5 27.8 Reported EBIT margin H1 21/221 A Gross Δ Δ Admin- A R&D- margin Distribution- to-sales to-sales to-sales Δ Other operating items Reported EBIT margin H1 22/231 Currency EBIT margin effect H1 22/23 (Constant Currencies)1 1 Before special items of DKK 33 million in H1 22/23 related to integration costs for the Atos Medical acquisition, and DKK 415 million in H1 21/22, of which DKK 300 million related to Mesh litigation provisions and the remaining DKK 115 million related to the Atos Medical acquisition (one-off transaction costs, legal and advisory fees) 7 H1 2022/23 highlights Gross margin was 67%, against 69% in H1 last year Negative impact from: input cost inflation (raw materials, energy, freight), double-digit wage inflation in Hungary and ramp-up costs in Costa Rica Positive impact from: Atos Medical, price increases, country and product mix, operating leverage, and efficiency savings • Positive FX impact on gross margin of around 70 bps Operating expenses in H1 amounted to DKK 4,728 million. Operating expenses grew 9% from last year excl. inorganic operating expenses from Atos Medical (19% incl. inorganic OPEX). Atos Medical contributed with DKK 570 million, including DKK 107 million in amortisation costs. Distribution-to-sales ratio was 31%, compared to 29% last year Distribution costs were up 20% vs. last year, impacted by Atos Medical, increased sales & marketing activities and travel post COVID- 19, higher logistics costs, and continued commercial investments (Interventional Urology, consumer and digital, Atos Medical) The admin-to-sales ratio was 5%, compared to 4% last year. The R&D-to- sales ratio was 3%, compared to 4% last year EBIT before special items was DKK 3,445 million, a 3% increase from last year. Reported EBIT margin before special items was 28% compared to 31% last year (positive impact of 50 bps from FX) Coloplast#8Adj. FCF in H1 was DKK 1,137 million. Operating cash flow impacted by increased working capital; NWC-to-sales still expected at 24% for FY 99 99 FCF development¹ 98 90 93 93 88 80 77 4,547 4,058 4,086 3,858 4,016 25 23 23 21 18 1,137 17/18 18/19 19/20 20/21 21/22 YTD 22/23 FCF (DKKm) (1) Cash Conversion (2) FCF-to-Sales (%) 1 H1 2022/23 highlights Free cash flow for H1 2022/23 was an inflow of DKK 795 million compared to an outflow of DKK 9,715 million in the same period last year Excluding acquisitions last year, the FCF decreased by DKK 123 million (13%) from DKK 918 million in H1 2021/22, driven by a decline in cash flow from operating activities. Adjusted for Mesh payments and the US Veteran Affairs matter³ payment, the H1 2022/23 FCF was an inflow of DKK 1,137 million Operating cash flow for H1 2022/23 was DKK 1,176 million, compared to DKK 1,381 million last year, due to higher income tax paid and an increase in working capital Reported EBIT before special items was DKK 110 million (3%) higher than H1 2021/22 NWC-to-sales of 26% compared to 25% at year-end 2021/22, mostly impacted by an increase in inventories. NWC-to-sales for the year still expected around 24% of revenue CAPEX-to-sales ratio of 5%, compared to 4% last year • H1 CAPEX was driven by investments in automation at volumes sites as part of GOP5, IT investments, and Atos Medical capex and integration capex 1) FCF adjustments: H1 2022/23 Mesh payments and payment related to the formal resolution of the US Veteran Affairs matter; FY 2021/22 adjusted for acquisitions, mostly Atos Medical and Mesh payments; FY 2020/21 adjusted for acquisitions and Mesh payments; FY 2018/19 adjusted for Mesh payments; FY 2017/18 adjusted for Mesh payments and acquisitions. 2) Cash Conversion calculated as FCF ex. Mesh payments, interest payments, tax payments, M&A and marketable securities relative to EBIT before special items. Cash Conversion is trailing twelve months. 3) Formal resolution of the US Veteran Affairs matter of incorrect management of contractual obligations related to past agreements, uncovered and disclosed to authorities in FY 2016/17 8 Coloplast#9FY 2022/23 guidance - organic growth is now expected around 8% and the reported EBIT margin is now expected in the 28-29%* range Organic revenue growth Reported revenue growth in DKK Reported EBIT margin* Effective tax rate Capital expenditures *before special items related to the Atos Medical integration (expected around 50 million DKK in FY 2022/23) 9 Around 8% 8-9% 28-29% Around 21% Around 1.4 bn DKK Coloplast#10Mission Making life easier for people with intimate healthcare needs Values Closeness... to better understand Passion... to make a difference Respect and responsibility... to guide us Vision Setting the global standard for listening and responding Coloplast