#1Roadshow 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 8% organic growth and 28% EBIT margin¹ in Q2. FY 2022/23 guidance narrowed: -8% organic growth and 28-29% EBIT margin¹ REVENUE GROWTH Reported revenue (mDKK) Reported growth - Organic growth +10% +14% +8% +8% 5,502 6,061 10,671 12,166 Q2 21/22 Q2 22/23 H1 21/22 H1 22/23 EBIT EBIT (DKKM)1 Reported EBIT margin¹ 31 31 28 28 1,686 1,671 3,335 3,445 . • • • Q2 2022/23 highlights Organic growth of 8% and reported growth in DKK of 10% Continued good momentum in Chronic Care (6% organic growth in both Ostomy and Continence Care) across regions ex. China, which detracted from growth in Ostomy Care due to COVID-19. Towards the end of Q2, hospital access and procedural volumes in China improved. Growth in Continence Care continued to be impacted by backorders in Collecting Devices Voice & Respiratory Care organic growth of 9% (2 months) with solid growth in Laryngectomy and Tracheostomy Strong double-digit growth and solid momentum in Wound Care and Interventional Urology (12% and 17% respectively), both including some benefit from a lower baseline last year EBIT¹ was DKK 1,671 million, down 1% from last year. The EBIT margin¹ was 28%, against 31% last year, reflecting input cost inflation, increased level of commercial activity, and amortisation costs. Neutral impact from currencies in Q2 ROIC after tax before special items of 19% in H1 22/23, against 25% last year, due to the Atos Medical acquisition FCF was DKK 795 million in H1 22/23, a 13% decrease from last year (ex. acquisitions), impacted by a decline in cash flow from operating activities, mainly due to an increase in net working capital and higher income tax paid. Net working capital for FY 2022/23 is still expected around 24% • Half year interim dividend of DKK 5.00 per share FY 2022/23 financial guidance Organic revenue growth now expected around 8%, from previously 7-8%. Reported growth in DKK now expected at 8-9%, from previously 9-10%, due to negative impact from currencies of around -2%-points (previously expected around -1%-point). Atos Medical acquired growth contribution of 3%-points unchanged (4 months) Consequently, the reported EBIT margin before special items¹ is now expected at 28-29%, from previously 28- 30%. The EBIT margin guidance continues to assume impact from increasing input costs . CAPEX still expected at around DKK 1.4bn. Effective tax rate still expected around 21% Q2 21/22 Q2 22/23 H1 21/22 H1 22/23 1) 3 Before special items. Special items of DKK 20 million in Q2 2022/23 related to Atos Medical integration costs. FY 22/23 special items expected -DKK 50 million for the Atos Medical integration. Special items of DKK 381 million in Q2 2021/22; DKK 300 million related to Mesh litigation provisions and DKK 81 million related to the Atos Medical acquisition 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 8% organic growth in Q2 with broad-based contribution from all business areas and regions excluding China Q2 2022/23 revenue by business area Q2 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 2,204 6% 28% European markets 6% 26% 1,964 Reported revenue FY DKKm FY Organic growth Share of organic growth 3,444 6% 43% Voice & 9% 6% Respiratory Care* 479 Other developed markets 1,553 13% 38% Wound & Skin 747 13% 19% Care Emerging markets 1,064 9% 19% Interventional 667 17% 21% Urology Coloplast Group *Part of organic growth since February 1, 2023 6,061 8% 100% Coloplast Group 6,061 8% 100% Coloplast#6Ostomy Care grew 6% in Q2 with solid contribution from all regions ex. China. China detracted from growth due to COVID-19, as expected 9 13. 10 Ostomy Care performance 8 5 2,253 2,274 2,109 2,160 2,204 III • • Q2 2022/23 highlights All regions contributed to growth ex. China Solid growth contribution from Europe, driven by the UK and Germany Solid momentum in the US with double-digit growth and continued advancement of our competitive position. The renewal of Coloplast's group purchasing agreement with Premier Inc. took effect on April 1 Emerging markets ex. China continued the good momentum, led by LATAM Sales in China declined in Q2, as expected, negatively impacted by COVID-19. Towards the end of Q2, hospital access in China significantly improved and approached pre-COVID levels, positively impacting procedural volumes and inflow of new patients From a product perspective, the SenSuraⓇ Mio portfolio, and in particular SenSuraⓇ Mio Convex, was the main growth contributor, followed by the BravaⓇ range of supporting products 6 Q2 21/22 Q3 21/22 Q4 21/22 Q1 22/23 Q2 22/23 Revenues (DKKm) Organic growth (%) Reported growth (%) Coloplast#7Continence Care grew 6% in Q2 with contribution from all segments and regions Continence Care performance 7 9 6 7 5 11 8 7 6 ७ ।। ம • • 2,030 1,987 1,877 1,892 1,964 Q2 21/22 Q3 21/22 Revenues (DKKm) Q4 21/22 Organic growth (%) Q1 22/23 Q2 22/23 Reported growth (%) • Q2 2022/23 highlights Solid contribution to growth from all regions Sales growth in Europe was driven by the UK and Germany Continued good sales momentum in the US Emerging markets also contributed to growth, driven by LATAM Continued double-digit growth in markets with recent reimbursement openings, such as Poland, Australia, Japan and South Korea From a product perspective, the SpeediCathⓇ intermittent catheters portfolio, in particular compact, standard, and flexible catheters, were the main contributors to growth Collecting Devices continued to be negatively impacted by backorders. The backorder situation is now resolved, and production will be back to full capacity in Q3 Bowel Management contributed to growth led by solid growth in the US. PeristeenⓇ Plus continues to perform well and has replaced Peristeen as the standard of care in markets where the product has been launched Coloplast is launching Luja™, the new CE-marked male intermittent catheter with a Micro-hole Zone Technology. Luja is currently launched in four markets, and expected to be available in key markets over the next 9 months Coloplast#8Voice & Respiratory Care delivered 9% organic growth in Q2 with solid momentum in both Laryngectomy and Tracheostomy Voice & Respiratory Care performance 9 9 6 6 9 13 480 479 459 446 298 Q2 21/22 Q3 21/22 Q4 21/22 Q1 22/23 Q2 22/23 Revenues (DKKm) Organic growth (%) Acquired growth impact (%) • • Q2 2022/23 highlights February 1, 2023, marked the one-year anniversary of the completion of the Atos Medical acquisition. The business has continued to perform in line with expectations (8-10% organic growth). The integration into Coloplast's infrastructure is also progressing well and on track to plan Voice and Respiratory Care delivered 9% organic growth (2 months) • • Laryngectomy delivered high single-digit organic growth, driven by growth in new patients in existing and new markets, as well as an increase in patient value driven by the Provox® Life™ portfolio Tracheostomy and ENT (Ear, Nose & Throat) delivered double-digit organic growth, with continued solid demand and positive impact from forward integration in key European markets All regions contributed to growth led by Europe and a solid contribution from the US. In Emerging markets, Poland made a solid contribution to growth as a result of a newly introduced reimbursement scheme for HMES, following a four-year long market access project aimed at raising the standard of care for laryngectomy patients In April, Atos Medical announced the results of a new clinical study demonstrating significant improvement in pulmonary health and related symptoms when using Provox Life* 8 *Provox Life Ward - Atos Medical Coloplast#9Strong Q2 in Wound & Skin Care with 13% growth driven by solid momentum in Wound Care Europe, including benefit from a low baseline 9 6 2 Wound & Skin Care performance I 10 14 5 5 12 1 4 -5 -4 -6 747 695 688 678 658 13 • Q2 2022/23 highlights Wound Care in isolation grew 12% despite continued negative impact from backorders, as expected The backorder situation has been resolved and production will gradually ramp up to full capacity in H2 2022/23 Solid growth momentum in Europe driven by the Biatain Silicone portfolio in Germany, France, and the UK. The region also benefited from a low baseline last year China returned to growth in Q2 driven by significantly improved hospital access, resulting in an increase in procedural volumes and demand for wound care products The Compeed contract manufacturing business continued to perform well and contributed significantly to growth, reflecting a healthy consumer demand Skin Care returned to growth in Q2, coming from a lower baseline last year 9 Q2 21/22 Q3 21/22 Q4 21/22 Q1 22/23 Q2 22/23 Revenues (DKKm) Organic growth (%) WC Organic growth (%) Reported growth (%) Coloplast#10Strong momentum in Interventional Urology with broad-based growth of 17%, led by the US Men's Health business Interventional Urology performance 23 19 18 19 13 17 11 12 9 11 686 643 642 667 . 560 Q2 2022/23 highlights Growth in the quarter was driven by continued strong momentum across business areas and geographies, as well as positive impact from a lower baseline in the US last year Men's Health was the largest contributor to growth in Q2 driven mainly by the TitanⓇ penile implants in the US Endourology in Europe and Women's Health in the US also made a solid contribution to growth Coloplast has launched its first laser equipment, Thulium Fiber Laser (TFL) Drive, in key markets. The launch is off to a good start with positive customer feedback The launch is part of Coloplast's strategy to expand into adjacent segments, and enables Coloplast to compete in the lasers market, worth an estimated DKK 3 billion 10 Q2 21/22 Q3 21/22 Revenues (DKKm) Q4 21/22 Organic growth (%) Q1 22/23 Q2 22/23 Reported growth (%) Coloplast#11Q2 reported growth was up 10%, with -3%-points impact from the Atos Medical acquisition and -1%-point negative currency effect 5,502 Q2 2022/23 Revenue development (DKKm) 453 558m DKK 155 -50 6,061 Reported revenue Q2 2021/22 Organic growth (constant currencies) Acquired growth Currency effect Reported revenue Q2 2022/23 Growth 8.2% 2.8% -0.9% 10.1% • Q2 2022/23 highlights Organic growth was 8% or DKK 453 million, driven by: • • • • • Continued solid momentum in Chronic Care across regions, excluding China China detracted from Ostomy Care growth due to COVID-19, as expected Continence Care continued to be impacted by backorders in Collecting Devices Voice & Respiratory Care delivered solid growth driven by both Laryngectomy and Tracheostomy Strong Q2 in Wound & Skin Care driven by solid momentum in Wound Care Europe, including benefit from a low baseline Continued strong momentum in Interventional Urology with broad-based growth, led by the US Men's Health business Acquired revenue contributed 3%-points to reported growth or DKK 155 million (1 month impact from the Atos Medical acquisition) Foreign exchange rates had a negative impact of DKK 50 million or -1%-point on reported growth, mainly related to depreciation of the GBP and several emerging markets currencies against DKK 11 Coloplast#12Reported EBIT margin of 28%¹ in Q2, reflecting inflationary headwind on input costs, increased level of commercial activity, and amortisation costs Q2 2022/23 EBIT margin development before special items (%) 30.6 -2.3 -1.6 0.6 0.0 27.6 0.0 27.6 0.2 Reported EBIT margin Q2 A Gross Δ Δ Admin- A R&D- margin Distribution- to-sales to-sales to-sales A Other operating items 21/221 Reported EBIT margin Q1 22/231 Currency EBIT margin effect Q2 22/23 (Constant Currencies)1 1 Before special items of DKK 20 million in Q2 2022/23 related to integration costs for the Atos Medical acquisition, and DKK 381 million in Q2 21/22, of which DKK 300 million related to Mesh litigation provisions and the remaining DKK 81 million related to the Atos Medical acquisition (one-off transaction costs, legal and advisory fees) 12 Q2 2022/23 highlights Gross margin was 66%, against 69% in Q2 last year Negative impact from: input cost inflation (raw materials, energy, freight), double-digit wage inflation in Hungary, ramp-up costs in Costa Rica, and cost related to backorder resolution. Electricity price hedges of ~400 EUR/MWh (double from last year) took effect in January. Positive impact from: Atos Medical, price increases, country and product mix, and operating leverage and efficiency savings Limited positive FX impact on the gross margin of 30 bps Operating expenses in Q2 amounted to DKK 2,356 million. Operating expenses grew 8% from last year excl. inorganic operating expenses from Atos Medical (12% incl. inorganic OPEX). Atos Medical contributed with DKK 280 million, including DKK 53 million in amortisation costs. Distribution-to-sales ratio was 31%, compared to 29% last year Distribution costs were up 16% vs. last year, driven 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%, on par with last year. The R&D-to- sales ratio was 3%, compared to 4% last year EBIT before special items was DKK 1,671 million, a 1% decrease from last year. Reported EBIT margin before special items was 28% compared to 31% last year (neutral impact from FX) Coloplast#13Adj. 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 13 Coloplast#14FY 2022/23 guidance narrowed - organic growth of around 8% and reported EBIT margin of 28-29%¹ GUIDANCE 2022/23 GUIDANCE (DKK)* SALES GROWTH Around 8% 8-9% • KEY ASSUMPTIONS • • • • • • EBIT MARGIN 28-29% • (before special items) • CAPEX (DKKm) • Around 1.4bn • • • Chronic Care ex. China expected to grow largely in line with Strive25 ambitions: Europe - continued good momentum; US - sustained good momentum in Ostomy Care and improvement in growth in Continence Care; Emerging markets - broad based double-digit growth ex. China Wound and Skin Care - growth above market in line with Strive25 ambitions China (OC and WC) - impact from COVID-19 in H1 2022/23, and expected improvement in growth in H2 2022/23, mostly driven by a lower baseline last year, as well as improved hospital access and procedural volumes towards the end of Q2. In Ostomy Care, a gradual improvement in inflow of new patients is expected. Average value per patient expected to remain below pre-COVID levels Interventional Urology - expected to grow around 10% Voice & Respiratory Care - expected to grow at 8-10% (8 months impact on organic growth) Russia - revenue expected to be on par with FY 2021/22 (1% of group revenue) with negative growth No current knowledge of significant healthcare reforms; positive pricing impact expected Stable supply and distribution of products - backorder impact in Collecting Devices in H1 2022/23 and Wound Care in the first nine months of 2022/23 Reported growth in DKK assumes negative impact from currencies of around 2%-points and 3%-points contribution from the Atos Medical acquisition Increased input cost: raw materials - double-digit price increase, energy costs - around double vs. 2021/22 (-60% of electricity consumption for H2 hedged at ~400 EUR/MWh), double-digit wage increase in Hungary Negative impact from currencies Leverage effect on fixed costs and continued efficiency improvements through GOP5 Prudent management of OPEX - expected to grow below reported revenue growth (excl. acquired growth) Amortisation charges related to the Atos Medical acquisition of around DKK 230 million Special items of around DKK 50 million related to Atos Medical integration costs Investments in automation at volume sites in Hungary and China as part of GOP5 Investments in new machines for existing and new products IT and sustainability investments • Atos Medical capex and integration capex 14 TAX RATE Around 21% • Positive (one-off) impact from Atos Medical IP transfer *DKK guidance is based on spot rates as of 9 May 2023 1) Before special items of around DKK 50 million in Atos Medical integration costs Coloplast#15FY 2022/23 guidance breakdown: significant negative impact from input cost increases on EBIT margin Revenue growth assumptions FY 2022/23 organic growth expected at around 8% in constant currencies • China Ostomy Care and Wound Care - negative impact from COVID-19 in H1 and expected improvement in growth in H2, mostly due to a lower baseline last year, as well as improved hospital access and procedural volumes towards the end of Q2 • • US - sustained momentum in Ostomy Care, and improvement in Continence Care growth driven by the normalisation of growth in new patients to pre- COVID levels in H2 21/22 Interventional Urology expected to grow around 10% Key impacts on gross- and EBIT margin development in 2022/23 68.8 Gross margin (%) GP margin FY 21/22 Development in FY 21/22 Assumption for FY 22/23 Negative Development since issue of FY guidance Unchanged Positive ILLUSTRATIVE 쇼 66-67% Energy Wages Hungary Currency effect Atos Medical² GP margin FY 22/23 Raw materials -55% of COGS -2% of COGS 9% of COGS¹ Double-digit price increase Around 100% increase Double-digit increase 15 • Voice & Respiratory Care expected to grow 8-10%, with 8 months impact on organic growth -3%-pts 8-9% -8% Organic growth 22/23 (Constant currencies) --2%-pt + Currency effect Acquired Reported growth growth 22/23 30.6 ILLUSTRATIVE 28-29% EBIT margin (%) EBIT margin FY 21/22 Development in FY 21/22 Assumption for FY 22/23 GP margin Leverage effect/scale on fixed costs Atos amortisation 152mDKK (8 mths) ~230mDKK (12 mths) Currency effect Incremental investments EBIT margin FY 22/23° Lower end of Strive25 guidance level4 1) Direct salaries as % of total COGS. 80% of production volumes are in Hungary. 2) 4 months incremental impact in 2022/23. 3) Before special items. Special items of DKK 471 million in FY 21/22, of which DKK 300 million related to Mesh litigation provisions and the remaining DKK 171 million related to the Atos Medical acquisition. Around DKK 50 million integration cost expected in FY 2022/23, to be treated as special items. 4) Strive25 guidance: Investments of up to 2% of sales in incremental OPEX investments Coloplast#16Making it easier to be yourself_ Leading intimate healthcare Introduction to Coloplast Stina | OC user Coloplast#17Coloplast has five business areas all with global sales presence Group revenue 2021/22 by segment¹ 1 Ostomy Care 38% DKK 22.6bn X 1 Voice & Respiratory Care 5% Group revenue 2021/22 by geography 1 Continence Care 34% European markets 57% 5 Wound & Skin Care 12% 4 Interventional Urology 11% = Coloplast's global market position 17 1 Voice & Respiratory Care includes 8 months of revenue I I DKK 22.6bn Other developed markets 26% Emerging markets 17% Coloplast#18Coloplast specializes in intimate healthcare needs Ostomy Care Who are our typical users People who have had their intestine redirected to an opening in the abdominal wall How do we help them? SenSura® Mio Ostomy bag Continence Care Voice & Respiratory Care Interventional Urology People in need of bladder or bowel management People who have had their larynx (voice box) removed or had an opening created in their neck to facilitate breathing People with dysfunctional urinary and reproductive systems SpeediCathⓇ Flex Flexible male urinary catheter Provox® Vega & Provox® Life Voice Prostheses and a range of Heat Moisture Exchangers (HMEs) and adhesives TitanⓇ Touch Inflatable Penile Prosthesis Wound Care 18 People with difficult-to-heal wounds BiatainⓇ Silicone Foam wound dressing Coloplast#19The Chronic Care model secures a predictable revenue stream and stable revenue growth The chronic care user flow New user Installed base of users • One new patient per year... secures 10-30 years of predictable revenue stream 19 Chronic Care condition Stable flow of loyal users Solid reimbursement Coloplast group revenues Revenue (DKK bn) Organic growth (%) 10 10 9 8 8 /\ 8 8 6 7 6 7 7 7 7 7 6 6 22/6 6.1 03/04 Coloplast 21/22#2020 Drivers Intimate healthcare is characterized by stable industry trends 01. Demographics Growing elderly population increases customer base for Coloplast products Limiters 01. Surgical and medical trends Earlier detection and cure, eventually reduces addressable market for Coloplast treatment products 02. Emerging markets Expanding healthcare coverage for populations in emerging markets increases addressable market 02. Healthcare reforms Economic restraints drive reimbursement reforms, introduction of tenders, and lower treatment cost Coloplast addressable market growth is 4-5% Brain | IC user Coloplast#21Coloplast has strong market positions in Europe and great commercial potential outside Europe Europe Other developed Emerging Ostomy Care Continence Care Voice & Respiratory Care (Laryngectomy) Interventional Urology Wound Care Addressable market Size in DKK Growth in %* 20-21bn 4-5% 15-16bn 5-6% 1-1.5bn 8-10% 13-14bn 3-5% 24-26bn 2-4% Coloplast total 35-40% 40 - 45% market share -85% Coloplast 40-50% regional market 15-25% 45-55% 25-35% shares 45-55% 40 - 50% Hollister Key competitors convatec -forever caring- Key drivers and limiters Ageing population • Increasing access to healthcare Health care reforms • Re-use of products outside Europe 21 15 - 20% 5-10% Wellspect HEALTHCARE BARD Hollister 80-90% 80-90% 95 - 100% FAHL INHEALTH 20-25% 15-20% 5-10% • Ageing population • IC penetration potential • • Up-selling Health care reforms Commoditization • Penetrate "white-space" Reimbursement in new geographies Compliant usage • New portfolio Provox Life™ Boston Scientific Advancing science for life" COOK MEDICAL дад BD Ageing, obesity • Under penetration • Cost consciousness Clinical requirements • Less invasive/office procedures 5-10% 0-5% 5-10% convatec -forever caring- smith&nephew 3M Mölnlycke • Ageing, obesity, diabetes •New technologies • • Healthcare reforms Competition • Community treatment Coloplast#2222 We are building the consumer healthcare company of the future Macro Trends +1 ± $ Ageing population Healthcare consumerism Digital transformation Price pressure tt Channel consolidation Impact 4 Commercial model Superior, clinically differentiated products Consumer preference Data and digital tools Payer preference Clinical preference Coloplast#23Our Strive25 strategy will drive continued long-term value creation through revenue and earnings growth مرا 100 7-9% organic growth p.a. more than 30% EBIT margin¹ 1 Constant currencies, based on FX rate as of September 29, 2020 23 Interventional Urology Innovation Ostomy Care J Continence Care Strive 25 SUSTAINABLE GROWTH LEADERSHIP Wound and Skin Care (o Voice and Respiratory Care * Leadership, culture and organization Efficiency Sustainability Coloplast#24Clear path to organic growth in the upper end of the 7-9% range in the outer part of Strive25 24 7-8% Strive 25 ambition: Strive 25 ambition: 10%+ organic growth in Double-digit organic US Chronic Care growth above the market in China Chronic Care Strive 25 ambition: Launch of the Clinical Performance Programme (Luja™ and Heylo™) Organic growth of 8-10% 7-9% FY 22/23 US China Innovation Voice & Respiratory Care Revenue growth outlook 24/25 Coloplast#25With Strive25 we put emphasis on improving our environmental performance, while continuing our ongoing commitments Our mission Making life easier for people with intimate healthcare needs 3 GOOD HEALTH AND WELL-BEING Our 2025 priority Improving products and Packaging¹ 90% of packaging recyclable 12 RESPONSIBLE CONSUMPTION AND PRODUCTION Our 2025 priority 13 Reducing emissions¹ со 80% packaging consisting of renewable materials 75% production waste recycled CLIMATE ACTION 100% reduction of scope 1 & 2 emissions by 203034 100% renewable energy 50% reduction in scope 3 emissions per product by 203034 Our on-going commitment Responsible operations¹ 5 GENDER EQUALITY DECENT WORK AND ECONOMIC GROWTH 10 REDUCED INEQUALITIES M 1 Strive25 Sustainability KPIs do not include Atos Medical 2 of which DKK 100 million in capex and DKK 150 million in operating expenses 3 From base year 2018/19 4 Target validated by Science-Based Targets initiative (SBTi) DKK 250 million² in investments allocated to sustainability efforts during Strive25 period 25 TRANSPARES ESG Nasdaq 2022 NASDAQ Stina | OC user Coloplast#26We will continue to support organic growth through yearly incremental investments of up to 2% of revenue in the Strive25 period 26 Key Investment Decision Drivers Key Investment Areas 100 Economics & Government $ Market Attractiveness Innovation Chronic Care Leadership & Organization Q Interventional Urology Case Financials Time horizon USA Voice and Respiratory Care Consumer & Digital Sustainability We expect to invest up to 2% of revenue in incremental OPEX investments Emerging markets incl. China Coloplast#27We will actively pursue M&A opportunities. as a lever for long-term growth Examples: 27 Opportunity based ↑ ■lıl E Large plays Atos Medical Systematic screening Channel expansion Hope Medical Supply¹ Rocky Mountain Medical Supply Affordable Medical¹ Portfolio expansion & adjacencies TFL Drive (distribution agreement) 1) Three US direct-to-consumer Durable Medical Equipment (DME) dealers, acquired by Coloplast in 2020/21 Early-stage technologies Nine Continents Medical (Intibia) Coloplast#28We have built key enablers to support the commercial model in our Chronic Care businesses 28 Commercial model Superior, clinically differentiated products Consumer preference Data and digital tools Clinical preference i Payer preference Key enablers Direct Businesses ❖ Coloplast Consumer Care Direct to Consumer Data & Digital tools Coloplast#29Direct business in Chronic Care serving consumers drives improved outcomes and is a vital component of our growth Direct presence in top 5 markets and strategic rationale Coloplast Consumer presence (incl. patient support programme, ColoplastⓇ Care) 29 Coloplast Control and continuity Charter Coloplast Homecare Comfort Medical 1 of product supply -30% MS -15% MS 5-10% MS 2 Target the full value pool 3 Direct access to consumers +30 countries with a consumer setup Lilial Coloplast Size of database, millions 2+ Online channel 4 15-20% MS -70% MS Direct relationship with payers # of calls per year, millions 3+ 5 Improve patient outcomes # of samples sent, thousands ~500 High single digit growth rates 6 Protect patient pathway Coloplast#30We have initiated a very ambitious Clinical Performance Programme to tackle the biggest issues users face 45%* of users describe UTIs are their 2.7 93% UTIs per user on average every year¹ worry about leakage² greatest challenge in life¹ 1 Source: Coloplast IC user survey, January 2016 (n=2,942), (Data-on-file) VV-0122794 30 2 Source: Ostomy Life Study 2016, ECET Coloplast Pre-Event (n=4,235), (Data-on-file) VV-0191619 Coloplast#31Solid progress on HeyloTM and Luja™; Luja is launched in four markets and is expected to be available in key markets over the next 9 months Status May 2023 31 Luja™M new catheter · platform Heylo™ • Product launched in four markets Expected launch Product launch expected The results of the first pivotal clinical study have been published*. The second study has been finalized and Coloplast expects to publish the results within the next few months in key markets over the next 9 months CE mark has been granted digital leakage notification system Payer pilot studies in Germany and the UK progressing as planned, with good user feedback Product launch expected in 2023 Simultaneously, continue our launch cadence into existing categories within ostomy care and continence care 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 LujaTM compared to competitor catheter Coloplast#3232 32 Leakage remains the biggest challenge for our users 91% 40% of people with a stoma worry about leakage¹ of users experience leakage onto their clothes every month² OC user: Sachiko Heylo addresses the mental burden caused by fear of leakage Control and peace of mind 22 1. Claessenes et. al. Gastrointestinal Nursing 2015 2. Usage pattern Study 2015, N=652 patients (US, UK, FR, DE) Coloplast#33Data on HeyloTM is promising. Pre-pilot study shows high product performance and user preference Product performance & user experience¹ Quality of life and future use¹ reduction in worry of leakage 92%* +9% sig significant improvement to emotional impact of leakage less leakage episodes 85%** 96% report higher feeling of security would recommend to others 87% 35% report improved sleep 1 CP321 study, 3W use of full system by n=25 * Reduction from 48% to 4% with high/very high worry of leakage (p-value<0.001) ** Reduction from 2.7 to 0.4 episodes of leakage onto clothes per 3 weeks (p-value=0.009) 33 Coloplast#34The clinical program supports national launches, reimbursement applications and generates user insights Single-arm confirmatory study, n=100 Show benefit to support Drug Tariff application: • Leakage onto clothes • Quality of Life Healthcare utilisation Cross-over RCT confirmatory study, n=145 Document quality of life improvements: • Emotional leakage impact Leakage onto clothes . • User behaviour and use patterns 34 User insights data collection, n=-150 Insights into user behaviour and product performance: Confirm unmet need User behavior and use patterns • Willingness-to-pay 米 • . Support reimbursement in DE & UK Document HeyloTM performance Understand user behaviour and use patterns Document value to payers Coloplast#35Preventing UTIS remains one of the biggest unmet needs we need to solve for in IC 45% of users consider UTIs to be their greatest challenge¹ 48% of users are worried whether they have emptied their bladder4 1IC Value Proposition user questionnaire (n=2,942). Data-on-file. 2016 2 Kennelly et al. 2019, Fischer 2018, Vahr et al. EAUN guidelines 2013 3 Middleton et al. 2012 4 Extended CORE survey 2022. Data on file 35 IC users have 2-3 UTIS on average per year...2 ...over a lifetime users will have up to 70-105 UTIs³ 25 *#36Luja™, our new catheter platform with Micro-hole Zone TechnologyTM addresses key UTI risk factors UTI Risk Factor Model¹ Intermittent catheterisation User compliance UTI risk factors General patient conditions Local urinary conditions Adapted from ¹Kennelly et al 2019: Adult Neurogenic Lower Urinary Tract Dysfunction and Intermittent Catheterisation in a Community Setting: Risk Factors Model for Urinary Tract Infections. 36 < UTI risk factors addressed by Luja™ Micro-hole Zone Technology™ UTI risk factor: Non-hygienic technique UTI risk factor: Urethral trauma UTI risk factor: Residual urine UTI risk factor: Bladder micro trauma Coloplast#37Comprehensive clinical program behind Luja™ to demonstrate the clinical relevance and difference Pre-clinical studies In-vivo and in-vitro animal models used to optimize technology features and document the effect. Pilot studies 8 studies comparing Luja vs. conventional catheters¹ involving 160+ users, demonstrating number of flow-stops and residual volumes at first flow stop significantly lower with micro-hole zone catheters as compared to conventional catheters Pivotal studies 2 multinational pivotal studies² involving 110+ users demonstrating the impact on the key risk factors of UTIs Multicenter, randomised cross over trials comparing Luja™ vs standard of care • Endpoints: Residual volume, Flow stops, Blood in urine, QoL The first pivotal study* showed significant improvement in bladder emptying with Coloplast's Luja™ compared to competitor catheter The second study has been finalized and Coloplast expects to publish the results within the next few months 1 Clinicaltrials.gov references: NCT03337048, NCT04633291, NCT04231149, NCT04250987, NCT04445051, NCT04543136, NCT04557787, NCT05224544. 2 Clinicaltrials.gov references: NCT05485935, NCT05485922 *Study shows significant improvement in bladder emptying with Coloplast LujaTM compared to competitor catheter 37 Coloplast#38Profitability supported by scalability and efficiency gains enabling. additional innovation and commercial investments Gross Profit development, %* YTD 22/23 Gross Profit negatively impacted by inflationary headwind on input costs (raw materials, energy, freight, labour) Cost item Development, in % of revenue* 1.8%-points 67.7 68.0 -0.5%-points 68.5 68.8 67.2 -68 18/19 19/20 20/21 21/22 YTD 22/23 Long-term *Atos Medical included in FY 21/22 with eight months of impact. Long-term expectations include Atos Medical 38 29.0 28.7 28.2 30.1 30.8 28-30 Distribution 0.5%-points 4.5 4.7 4.2 4.1 3.9 ~4 Admin -0.4%-points 3.9 3.8 3.9 3.8 3.5 R&D ए 18/19 19/20 20/21 21/22 YTD Long- 22/23 term FY 21/22 and YTD 22/23 cost items include impact from the Atos Medical acquisition, of which DKK 152m and DKK 107m respectively in amortization costs (included under distribution cost) Coloplast#39Automation, procurement and scale are key to bringing Global Operations to the next level 1. Automation to mitigate growth in blue-collar FTE # of FTE release through automation, original plan 9% Salary¹ (Direct labour) ~600 -500 -200 >1,000 19/20 20/21 21/22 22/23 Due to longer component lead times, the timeline of the programme is extended into Q1 2023/24 2. Continuously work with procurement costs and supply risk mitigation • Run sourcing tenders • Expand supplier base 55% • Reduce risk of supply disruptions • • Increase competitive pressure In 2022/23 we expect double-digit raw materials price increase • Implement new materials Materials (RM & SFG) 100 DKK -450m CAPEX investment over four years (19/20 - 22/23) DKK 0% Like-for-like material costs time Costs levels to remain at 19/20 levels 3. Efficiency and scale on global functions 100% Keeping FTEs stable, while increasing production output Production costs¹ 1) FY 2021/22 Cost of goods sold, DKK 7,050m 39 0% 湔 Global functions • ☐ Volume output Coloplast#40A global Business Support and IT landscape enables Coloplast to scale faster and efficiently and integrate Atos Medical into the Group Global Business Services Global business services handle the majority of all global support % of group processes Global Business Support Centre Global IT landscape (ERP, CRM etc.) Global IT infrastructure Source: Coloplast 40 100% IT infrastructure & support -90% $ 100% Finance/accounting 100% Master Data Labelling (Chronic Care and Wound Care) Coloplast ~70% 100% Care 100% Sales order taking / management Lead handling (DtC/Coloplast Care) HR support Examples of current implementation cases $ Sales subsidiary New manufacturing (Czech Republic and Slovakia) (Costa Rica) ++ E-invoicing Atos Medical integration (IT and finance infrastructure) Coloplast#41EBIT margin development continues to be a function of growth, scalability, cost discipline and investment activity EBIT margin (%) Illustrative >30% Future drivers of EBIT margin EBIT will be positively impacted by: + Leverage effect on fixed costs e.g. distribution, admin and R&D costs especially driven by Europe -31% Incremental investment of up to 2% of revenue per year Reported EBIT margin FY 21/22 A Gross margin Leverage effect/scale Incremental investments EBIT margin FY 24/251 on fixed costs 1) Constant exchange rates 41 EBIT will be negatively impacted by: Investments in P/L (Commercial & R&D) Headwind on gross margin from increasing prices for raw materials, energy, freight, and wage inflation in Hungary in FY 2021/22 and FY 2022/23 Coloplast#42Continued strong development in free cash flow during the Strive25 strategy period Taxation Reported tax rate Net working capital Net working capital, % of revenue CAPEX² CAPEX DKKM Depreciation and amortisation, % of revenue CAPEX, % of revenue 5% 5% 5% 6% 5% 4% 4%- 4% 5% 4% 4% 25% 26% 4% 23% 23% 23% 23% -23% 24% 23% 24% -24% 931 1,016 1,135 21% 636 566 18/191 19/20 20/21 21/22 YTD 22/23 Long term 18/19 19/20 20/21 21/22 YTD 22/23 Long term 18/19 19/20 20/21 21/22 YTD 22/23 Long term • • DK statutory corporate tax rate lowered to 22% in 2016. Coloplast pays the majority of its tax in Denmark Coloplast tax rate expected to be -23% for the Strive25 strategy period FY 22/23 tax rate expected around 21% due to positive impact from Atos Medical IP transfer • Long-term Net working capital expected to be stable at -24%, impacted by: o Growth in mature markets • Growth in Emerging markets which have long credit times o Increasing inventory levels on strategic raw materials and products H1 22/23 NWC-to-sales impacted mainly by increased inventories, as well as timing of trade payables. FY 22/23 expected at around 24% • CAPEX-to-sales expected to be 4-6% in Strive25 Continued investments in machines & capacity expansion Widening & diversifying manufacturing footprint: volume sites in Costa Rica became operational in 20/21 & 21/22 GOP5 investments - automation in Hungary and China IT investments and sustainability investments Atos CAPEX integration costs of up to DKK 150 million split over 21/22-23/24 (vast majority will be IT CAPEX) Full year impact of -DKK 230 million of amortisation related to the Atos Medical acquisition in 22/23 1 Impacted by provision for Mesh litigation 42 2 Gross investments in PPE & intangibles, excluding acquisitions Coloplast#43We will continue to provide attractive cash returns despite investments in commercial activities and the Atos Medical acquisition Coloplast cash distribution to investors Highlights Dividends paid out in the year (DKKm) (1) Share buy-back (DKKm) Pay-out ratio (%) (2) 91 88 86 84 84 81 77 80 60 60 4,541 4,330 4,112 3,788 3,898 3,364 3,150 500 15/16 500 16/17 500 17/18 500 18/19 500 19/20 500 20/21 500 21/22 1) Dividends paid out in the year are the actual cash payments of which the majority relates to dividend proposed in the previous financial year. Long-term 2) Pay-out ratio calculated as dividend proposed in the financial year/net profit for the financial year. Pay-out ratio for 2021/22 is before special items related to Mesh litigation and Atos Medical acquisition. 2020/21, 2018/19 and 2015/16 is before special items related to Mesh litigation. After special items, the pay-out ratio for 21/22 was 90% Coloplast returns excess liquidity to shareholders in the form of dividends and share buy-backs Dividend is paid twice a year - after the half- year and full-year financial reporting Total dividend of DKK 20.00 per share for 2021/22 compared to DKK 19.00 per share for 2020/21 Coloplast will pay a half year interim dividend of DKK 5.00 per share The share buy-back programme serves to hedge employee share options A new share buy-back program will not be initiated in FY 2022/23 as treasury shares are sufficient to hedge the outstanding employee share options 43 Coloplast#44In sum, we believe Coloplast can continue to deliver stable shareholder returns through ... Organic growth and EBIT margin development Highlights 28% 12% 8% • 7% 07/08 09/10 11/12 13/14 15/16 17/18 19/20 21/22 YTD 22/23 Organic growth EBIT Margin² 10% FCF and ROIC development 19% 9% 8% 07/08 09/10 11/12 13/14 15/16 17/18 19/20 21/22 YTD 22/23 FCF to sales¹ ROIC after tax² 1. FCF adjusted for Mesh payments in 2013/14, 2014/15, 2015/16, 2016/17, 2017/18, 2018/19, 2020/21, 2021/22, YTD 2022/23 and acquisitions in 2016/17, 2017/18 and 2020/21 and 2021/22. YTD 2022/23 adjusted for payment related to the formal resolution of the US Veteran Affairs matter Adjustment for Mesh payments includes DKK 500m insurance coverage in 2013/14 and 2014/15 combined. 2 Before special items. Special items include: 2013/14 DKK 1bn net provision; 2014/15 DKK 3bn provision; 2015/16 DKK 0.75bn provision; 2018/19 DKK 0.4bn provision; 2020/21 DKK 0.2bn provision; 2021/22 DKK 471m, Mesh litigation provisions and Atos Medical integration costs; YTD 2022/23 DKK 33m, Atos Medical integration costs . Stable market trends in our Chronic Care business Innovative product portfolio and new product launches Strong Coloplast Care retention program and innovative DtC activities Increased focus on growing the business outside Europe Additional improvements in manufacturing by leveraging global operations footprint European leverage will provide funds for further investments in sales initiatives Resulting in strong free cash flow generation and high return on invested capital ROIC FY 21/22 and H1 22/23 impacted by the recent acquisition of Atos Medical 44 Coloplast#45Introduction to Atos Medical The global market leader in laryngectomy | Atos user Coloplast#46Atos Medical is the global pioneer within Laryngectomy and has shaped the market for the past +30 years Key market and business highlights Revenue by segment and geography ~50,000 New total laryngectomies per year Laryngectomy Tracheostomy Other Organic CAGR -8% -85% Global Laryngectomy market share 1.441 1.268 1.286 30 Countries with direct presence 1.175 ▪72= 89 72 227 107 152 162 171 -50% of revenues from Direct to consumer sales ~1,100 Employees globally 1.027 1.052 1.142 897 Atos product segments Lary Heat- and Moisture Exchanger (HMES) Adhesives (Adh) Voice Prostheses (VP) Accessories PROVOK BROVCI 2018 2019 2020 20212 -80% -20% -75% -10% -15% Tracheostomy & ENT 1) 46 2) Pro-forma revenues and adjusted EBITDA calculated by Coloplast, including TRACOE medical GmbH and Kapitex Healthcare LTD (together "Tracoe"). Atos closed the Tracoe transaction on October 1st 2021. Includes impact from the Tracoe acquisition Laryngectomy Tracheostomy & Other Europe North America ROW Coloplast#47Atos improves the lives of patients following Total Laryngectomy procedures A Total Laryngectomy is a non-elective surgery performed in the advanced stages of cancer After surgery, a Voice Prosthesis (VP) is inserted by a healthcare professional, and the patient applies the Heat- and Moisture Exchanger (HME) and adhesives themselves Diagnosis Total Laryngectomy Initial placement of VP Initial placement of HME Voice Prosthesis (VP) • • • Treatment of advanced laryngeal and hypopharyngeal cancer The procedure involves removing the voice box, also called the larynx The upper and lower airways are also permanently disconnected, which leads to a loss of the upper airway functions (humidification, heating and filtration of inhaled air, olfaction) Heat- and Moisture Exchanger (HME) Adhesives Accessories 47 Replacement of VP (3-4x per year) Replacement of HME (2-3 per day) / adhesives (1-2 per day) Chronic care model - once patients enter the installed base, they become recurring users for the next 8-10 years Coloplast#48There is significant untapped potential in the laryngectomy market today, which we will seek to eliminate The laryngectomy market, DKKbn Low level of market penetration due to: We will eliminate the 'white space' by: -10% CAGR (2015-20) White space (global market potential) 01 Lack of clinical standards in existing markets outside of Northern Europe 02 Patients are not compliant in their use Penetrated 1.0-1.5 markets Today Future 03 Market -85% share Lack of reimbursement in most of emerging markets 48 Setting the clinical standards and increasing penetration in existing markets, such as the US Increasing compliance in existing markets Opening and developing new markets, such as Brazil, South Korea and China Coloplast#49Tracheostomy patients have similar needs as Laryngectomy patients, as they are both breathing through a neck stoma A Tracheostomy is a surgical procedure that creates an opening in the neck for direct access to the windpipe (trachea) to facilitate breathing The Tracheostomy patient journey starts with a cannula insertion, which can be reversed at any stage ICU/Hospital Hospital Ward Nursing home; Clinical follow-up; home • 49 Acute recovery Rehabilitation Establishing New Normal Living Well Cannula insertion Tubes/cannulas Performed when the airways are restricted, e.g., during an emergency when the airways are blocked, or when a disease or other problem makes normal breathing impossible Can be temporary or permanent After a tracheotomy patients have a tracheostoma, with a tracheostomy tube entering the windpipe. This changes the way of breathing and speaking. Heat- and Moisture Exchanger (HME) and Speaking devices Accessories • There are around 1 million tracheostomy procedures each year The market today mainly consists of tubes used for breathing. Market growth estimated between 3-5% Permanent tracheostomy patients have similar product needs as laryngectomy patients (HMES, accessories), and many today do not receive the highest standard of care Coloplast#50Atos Medical financial assumptions 50 Organic growth and Organic growth 8-10% EBITDA margin . EBITDA margin in the mid-30s level EPS impact • Increasingly EPS accretive from FY 2022/23 Synergies Financing Integration, transaction and financing costs Impact on balance sheet and capital allocation policy Purchase Price Allocation • • . • • Estimated run-rate operational synergies of up to DKK 100m from utilising Coloplast infrastructure with full impact estimated from FY 2023/24 Structured as a 100% cash payment financed through debt financing The blended interest rate for the debt financing package is expected around 2.9% in FY 2022/23, achieved through the bond issuance, hedges on the 8-year tranche and the 5-year tranche, as well as the secured interest rate on the credit facility One-off transaction and integration costs including legal fees, advisory fees and insurance costs etc., and P&L integration costs of around DKK 171m in FY 2021/22, treated as special items. An additional DKK ~50 million in special items expected in 2022/23. Capex integration costs of up to DKK 150m split over 21/22-23/24, of which the vast majority IT capex. By the end of Strive25, leverage is expected to be within the target range of 1-2x NIBD/EBITDA No changes to Coloplast's capital allocation policy to return excess liquidity through dividends and share buy-back. Updated target payout ratio of 60-80% of net profit Around 75% of the purchase value will be treated as goodwill. The remaining 25% will be treated as intangibles, to be amortised over approximately 15 years Deal timing • Closed on 31 January, 2022 Page 50 Coloplast#51Leading intimate healthcare_ Leading intimate healthcare Appendices 737 Tabitha | IC user Coloplast#52The Coloplast share (COLO-B.CO) Coloplast share listed on Nasdaq Copenhagen since 1983 Holders of A shares and family¹ Danish institutions Foreign institutions Coloplast A/S Other shareholders Non-registered shareholders ~206.9 billion DKK (~30 billion USD) market cap @-974.2 DKK per share (incl. A shares) Two share classes: • 18m A shares carry 10 votes (family) 198m B shares carry 1 vote (freely traded) • Free float approx. 54% (B shares) 52 52 4.0% 7.0% 2.0% 37.0% Note: Share capital ownership as per September 2022 1 Holders of A shares and family hold 68% of the votes in Coloplast Share Capital Ownership 6.0% 44.0% Coloplast#53Capital structure Comments Overall policy is that excess liquidity is returned to shareholders through a combination of dividends and share buy-backs • Bi-annual dividends Net interest-bearing debt 2.6x 2.3x 2.0x 21,008 18,091 0.3x 1.0x 0.1x 0.2x Share buy-backs of DKK 500m per year expected - no buy-back planned for FY 2022/23 Interest bearing debt will only be raised in connection with a major acquisition, such as Atos Medical, or other special purposes • In relation to the Atos Medical acquisition, Coloplast made a Eurobond issuance of EUR 2.2bn and obtained a credit rating of BBB by S&P Global Ratings FY 21/22 and YTD 22/23 increase in Net interest bearing debt (NIBD) driven primarily by the Atos Medical acquisition FY 22/23 NIBD/EBITDA expected to be around 2x 2,112 1,162 539 18/19 19/2020/2121/22 YTD 22/23 NIBD/EBITDA¹ NIBD (DKKm) 1) 53 Before special items of DKK 400m and DKK 200m provision related to US Mesh litigation in Q4 2018/19 and Q2 2020/21, respectively. FY 21/22 before special items of DKK 471m, DKK 300m related to provision for Mesh litigation and DKK 171m related to the Atos Medical acquisition. H1 2022/23 before special items of DKK 33 million related to integration costs for the Atos Medical acquisition 24/25 Coloplast#54Solid 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 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 54 12,166 8% 100% Coloplast Group 12,166 8% 100% Coloplast#55H1 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 55 Coloplast#56Reported 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) 56 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#57Key value ratios 57 Profitability drivers Free Cash Flow drivers 32.7 32.8 36.2 36.8 32.3 34.7 34.6 34.7 31.2 32.0. 32.7 31.5. 28.7 29.0 28.7- 30.8 •28.2" 30.1 26.2 25.4 23.4 23.6 23.4 23.7 4.0 4.2 4.1 4.5 4.7 5.0 5.2 5.0 4.7 3.9 4.1 3.5 3.9 3.9 3.8 3.9 3.8 3.5 17/18 18/19 19/20 20/21 21/22 YTD 22/23 17/18 18/19 Admin-to-Sales (%) COGS-to-Sales (%) R&D-to-Sales (%) Dist-to-Sales (%) 1) NWC-to-Sales (%) CAPEX-to-Sales (%)² Before special items. Special items in 2018/19 include 0.4bn provision for Mesh litigation, and 2020/21 include DKK 0.2bn for Mesh litigations. FY 21/22 before special items of DKK 471m, DKK 300 million related Mesh litigations provisions and DKK 171 million related to the Atos Medical acquisition. H1 2022/23 before special items of DKK 33 million related to integration costs for the Atos Medical acquisition 19/20 20/21 21/22 YTD 22/23 EBITDA margin (%) 1 2) Gross CAPEX including investment in intangible assets, ex. acquisitions of associates Coloplast#58Coloplast revenue development by business area Ostomy Care 8 10 6 6 7 13 7 5 7 4 8,620 7,538 7,841 7,166 Interventional Urology 19 Voice & Respiratory Care 16 19 14 Contribution to reported growth 6%-points 6%-points 14 Organic growth (2 months) 9% 10' 9 4,478 1,970 1,835 -7 2,424 2,097 1,353 NA NA ΝΑ 1,203 959 18/19 19/20 20/21 21/22 YTD 22/23 18/19 19/20 20/21 21/22 YTD 22/23 18/19 19/20 20/21 21/22 YTD 22/23 Continence Care Wound & Skin Care Group revenues 9 9 6 5 6 10 0 8 6 6 6 8 8 3 7,643 6,459 6,819 7,003 8 6 4 1 3,951 2,344 2,352 2,485 2,689 1,425 9 4 7 16 14 3 5 6 8 22,579 17,939 18,544 19,426 12,166 18/19 19/20 20/21 21/22 YTD 22/23 18/19 19/20 20/21 21/22 YTD 22/23 18/19 19/20 20/21 21/22 YTD 22/23 Revenue (DKKm) Reported growth (%) Organic growth (%) 58 Coloplast#59Coloplast revenue development by geography and total 59 Europe Other Developed Markets 15 12 2 4 6 2 4 6 16 21 22 12,916 10,573 10,820 11,261 8 6 11 11 3 6,878 5 5,775 4,380 4,644 4,785 3,187 18/19 19/20 20/21 21/22 YTD 22/23 18/19 19/20 20/21 21/22 YTD 22/23 FY 21/22 and YTD 22/23 reported growth rates include 8%-pts impact from the Atos Medical acquisition Emerging Markets FY 21/22 and YTD 22/23 reported growth rates include respectively 6%-pts and 5%-pts impact from the Atos Medical acquisition 15 15 12 10 9 8 10 10 3 2,986 3,080 3,380 3,888 2,101 18/19 19/20 20/21 21/22 YTD 22/23 FY 21/22 and YTD 22/23 reported growth rates include 1%-pts impact from the Atos Medical acquisition Revenue (DKKm) Coloplast group 9 4 7 16 14 3 5 6 22,579 17,939 18,544 19,426 12,166 18/19 19/20 20/21 21/22 YTD 22/23 FY 21/22 and YTD 22/23 reported growth rates include 6%-pts impact from the Atos Medical acquisition Reported growth (%) Organic growth (%) Coloplast#60Segment operating profit (Excludes shared/non-allocated costs) Chronic Care Ostomy and Continence Care 59 59 58 58 57 Interventional Urology Wound & Skin Care Segment Operating Profit DKKm Segment Operating Profit Margin (%) Voice & Respiratory Care 2,357 2,397 2,500 2,456 31 35 37 36 35 40 42 222 2,375 38 39 37 31 E 239 244 235 289 291 222 266 261 249 175 Q2 21/22 Q3 21/22 Q4 21/22 Q1 22/23 Q2 22/23 57 58 59 59 57 9,586 8,774 8,318 7,798 Q2 21/22 Q3 21/22 Q4 21/22 Q1 22/23 Q2 22/23 Q2 21/22 Q3 21/22 Q4 21/22 Q1 22/23 Q2 22/23 41 39 39 40 40 37 38 36 35 35 1,029 1,089 914 941 4,831 818 860 728 654 479 I 32 32 33 34 A 148 156 162 143 92 Q2 21/22 Q3 21/22 Q4 21/22 Q1 22/23 Q2 22/23 32 32 33 540 • 383 318 FY 18/19 FY 19/20 FY 20/21 FY 21/22 YTD 22/23 FY 18/19 FY 19/20 FY 20/21 FY 21/22 YTD 22/23 FY 18/19 FY 19/20 FY 20/21 FY 21/22 YTD 22/23 FY 21/22 YTD 22/23 • • Voice & Respiratory Care is Coloplast's new business area, added with the acquisition of Atos Medical. FY 21/22 includes eight months of impact. Segment operating profit for Voice & Respiratory Care is excluding PPA amortisation expenditures. R&D costs for Interventional Urology and Voice and Respiratory Care are included in the segment operating profit/loss for the respective segments, while R&D costs for Chronic Care and Wound and Skin Care are shared between functions and included under shared/non-allocated costs. Financial items and income tax are not allocated to operating segments. 60 Coloplast#61H1 2022/23 Atos Medical impact on EBIT Atos Medical acquisition EBIT impact 33% 3% 30% 29% 0% 28% 28% 1% 0% DKK 33 million DKK 107 million DKK 60 million DKK 362 million EBIT margin Special items EBIT margin after special Atos Medical¹ H1 2022/23 items H1 2022/23 before special items Atos Medical PPA amortisation EBIT H1 2022/23 before special items & PPA amortisation Special items of DKK 33 million in H1 2022/23 related to integration costs for the Atos Medical acquisition Around 25% of the purchase value of Atos Medical is treated as intangibles, amortized over 15 years. 61 Amortisation excl. Atos Medical PPA EBITA before special items Depreciation EBITDA before special items Coloplast#62Exchange rate exposure FY 2022/23 and hedging policy Revenue FX exposure 2022/23(¹) 12 months exposure from 10% initial exchange rate drop (1) Other 18% EUR 36% CNY, JPY, AUD, BRL & ARS 12% 14% GBP 20% USD -490 USD -220 -320 GBP -220 HUF 130 Revenue (DKKm) EBIT (DKKm) Foreign exchange rate guidance for 2022/23 Currency Average exchange rate for FY 2021/22¹) Spot rate, May 09, 2023 Estimated average exchange rate 2022/233 Change in estimated average exchange rate compared to last year Average exchange rate for 6M 2021/22 Average exchange rate for 6M 2022/23 Key currencies: USD GBP HUF 688 678 695 1% 657 711 878 855 852 -3% 883 849 1.97 2.00 1.94 -2% 2.04 1.87 Other selected currencies: Change in average exchange rates for 6M compared to 6M last year 8% -4% -8% Hedging Policy To achieve the objective of a stable income statement we hedge: • Key currencies e.g., USD, GBP, HUF using forward contracts and options. Not EUR. On average 10-12 months Selected balance sheet items in CNY 105 98 100 -5% 103 102 -1% JPY 5.54 5.03 5.12 -8% 5.71 5.20 -9% foreign currency and part of the AUD 490 458 468 -4% 477 477 0% expected rolling 12-month cash BRL ARS²) 132 135 136 3% 122 136 11% flows 5.16 2.97 2.97 -42% 6.01 3.28 -45% Taking risk. vs. cost of hedging into consideration 1) Average exchange rate from October 1 2021 to September 30 2022 2) The hyperinflationary economy in Argentina entails that results denominated in Argentinian Peso must be adjusted for inflation and be translated at the exchange rate of the balance sheet day which was DKK 5.16 per ARS 100.00 at 30 September 2022, DKK 3.28 per ARS 100.00 at 31 March 2023, and DKK 2.97 at May 9 2023. 3) Estimated average exchange rate is calculated as the average exchange rate year for the first six months combined with the spot rates at 9 May 2023 62 Coloplast#63US Mesh litigation - Overview of financial impact P&L - overview of special items related to the Mesh litigation Balance Assets Restricted cash, DKKbn Cash flow Actual/Expected cash flow, DKKbn Actual cash flow ☐ Expected cash flow 13/14- 17/18 18/19 19/20 20/21 21/22 YTD 22/23 0.5 0.5 EBIT (before special items) 5,556 5,854 6,355 6,910 3,445 Special items (Mesh) -4,750 -400 -200 -300 Other special items* -171 -33 0.1 0.0 0.0 EBIT 5,156 5,854 6,155 6,439 3,412 0.0 0.0 0.0 14/15 15/16 16/17 17/18 18/19 19/20 20/21 21/22 YTD 22/23 0.0 0.5 0.3 Liabilities EBIT % (before special items) 31 32 33 31 28 Total liability, DKKbn EBIT % 29 32 32 32 29 28 Other payables Provision 0.7 • A total of DKK 6,150 million (DKK 5,650 million net of insurance coverage) has been provisioned and is considered sufficient • Currently around 99% of known cases against Coloplast have been resolved 2.4 3.3 * DKK 171 million in special items related to the Atos Medical acquisition (transaction and integration costs) in FY 2021/22. DKK 33 million in special items related to integration costs for the Atos Medical acquisition in H1 2022/23. 63 1.2 0.1 0.1 0.3 1.1 0.4 0.3 0.5 0.1 0.3 0.2 0.2 0.0 0.1 14/15 15/16 16/17 17/18 18/19 19/20 20/21 21/22 YTD 22/23 1.8 1.6 22/23 & beyond 0.3 0.5 0.4 0.2 0.2 0.2 0.1 13/14 14/15 15/16 16/17 17/18 18/19 19/20 20/21 21/22 22/23 • Insurance coverage of DKK 500m received in 2013/14 and 2014/15 Coloplast#64Stable global health reforms environment • Europe Netherlands: Reimbursement pressure on OC and CC France: Reimbursement pressure on WC Rest of World ⚫ U.S.: Reimbursement pressure on OC and CC (Managed Care) • Italy: Regional payback system (retroactive) Reimbursement pressure Coloplast 64#65CARE helps us increase retention and improve product compliance 65 We co-develop CARE content with local clinicians CARE is a personal and "high- touch" program Advisors available on phone Care Clinically validated content and call protocol Website with reliable advice and useful self assessment tools 24/7 Self-assessments to identify struggling users News, tips and inspiration directly in email or mailbox Data shared with clinicians Free product and supporting products samples Global program with shared infrastructure - ERP 1.ª - CRM - CMS Coloplast#66With our DtC marketing program we reach into the community We operate in numerous channels to expose our service and product offering... 66 Coloplast ...and with the reach we get several benefits Expose innovative products Ensure product accessibility Ensure WeChat TMicrosoft Teams successful experience i Coloplast#67The generic model for distribution and reimbursement of our products 67 Payer Prescription & Insurance Product Reimbursement price tt Distribution Prescription & Insurance Consumer Prescription & Insurance Reimbursement price SA Product Coloplast Product Prescription & Insurance Coloplast#68Interventional Urology's revenue is balanced geographically and across the four business areas Interventional Urology at a Glance FY 21/22 0 Interventional Urology Rest of Coloplast business Revenue by Business Area DKKM, FY 21/22 11% of Coloplast sales 2.4 billion DKK annual sales Revenue by region DKKM, FY 21/22 0 15-20% market share in global market of DKK 13-14bn market growing 3-5% annually Coloplast position, FY 21/22 Endourology #2 In EU Men's Health Q Women's Health Bladder Health 42 #2 #3 #2 In EU Organic revenue growth vs. market growth by business area Organic growth, % 21/22 Market Coloplast 68 Endourology Women's Health Men's Health Bladder Health North America Europe Rest of world Endourology Men's Health Women's Health Bladder Coloplast#69Select products Coloplast Interventional Urology is split into four business areas • • Men's Health Women's Health O Endourology Q Erectile Dysfunction Male Incontinence Testicular Replacement Stress Urinary Incontinence (SUI) • Stone Management . Transurethral Pelvic Organ Prolapse (POP) • Percutaneous • Peyronie's Repair Inflatable Penile Prosthesis Testicular Prosthesis Meshes Single Use Cystoscope Thulium Fiber Laser Drive • Bladder health & surgery а Bladder Drainage Benign prostatic hyperplasia (BPH) management Laparoscopic Procedures Prostate and bladder Foley catheter - Folysil chips evacuator Pericardium allograft Male Slings Slings Biologic grafts No-Tip for stone retrieval device Double Loop Ureteral Stent Disposable suction/ Surpapubic drainage - irrigation device Cystodrain, Supraflow, Uristil tissue Source: Company information 69 Coloplast#70We have a strong presence in our categories in Interventional Urology but there is room to capture market share 70 Men's Health Women's Health Endourology¹ Bladder Health & Surgery 1 Inflatable Penile Prosthesis (IPP) Male incontinence Stress urinary incontinence Boston Scientific Coloplast Share Competitive Share Source: Company information; Note: 1 Select segments. Boston Scientific Pelvic organ prolapse J&J Boston Scientific COOK' BD MEDICAL BD Fragmented Competition Coloplast#71We are executing a refined product roadmap in Interventional Urology aligned to Strive25; progress is tracking to key milestones 71 Strategy Strengthen core Description Men's Health O Women's Health Endourology Projects that address regulatory requirements, close gaps and maintain competitiveness IPP Enhancements Saffron™ Cadence of stone procedure tools Portfolio expansion Projects that expand portfolio breadth to increase relevance with economic buyers and to enter new high growth adjacencies Expanded Intibia™ TFL Drive procedure solutions Platform innovation Projects that provide advanced and differentiated solutions to increase competitiveness and enable IU to become a tier one player Develop differentiated transformational solutions Coloplast#72We will deliver growth through product and therapy expansion Saffron™ Tissue Fixation System Launched 22/23 TECHNOLOGY ASSESSMENT Intibia™ Implantable Tibial Nerve Stimulator Launching 25/26 SopranoⓇ Hybrid Guidewire Launching 22/23 ACTIVELY PURSUING POP SUI AUS Cancer ED IU Today OAB Endo Consum-/ Endo Laser ables Endo Visualization 72 AUS- Artificial Urinary Sphincter BPH - Benign prostatic hyperplasia ED - Erectile dysfunction Endo - Endourology POP-Pelvic organ prolapse SUI Stress Urinary Incontinence OAB Overactive Bladder BPH TFL Drive Thulium Fiber Laser Launched Q4 21/22 Coloplast#73With the acquisition of Nine Continents, we are executing on the option to enter the attractive OAB market with Intibia Overactive bladder (OAB) market +80m people globally suffer from OAB symptoms ~40% of the OAB patient population seek treatment -3m are candidates for 3rd line therapies¹) 1bn USD 3rd line therapies market, growing high-single digits Why Implantable Tibial Nerve Stimulation (ITNS)? Less invasive procedure than SNS Less time-intensive Established data on tibial nerve stimulation efficacy ITNS complete in single procedure Procedure under local anesthesia No need for patients to make regular visits Providers can treat patients in one session PTNS established clinical efficacy Urologist familiar with PTNS story Nine Continents Medical Inc NINE CONTINENTS MEDICAL Nine Continents Medical Inc is an early-stage company pioneering an implantable tibial nerve stimulation treatment for over-active bladder The device is an implantable tibial nerve stimulator (ITNS), a miniaturized, self-powered unit placed in the lower leg under local anesthesia during a short, minimally invasive procedure Coloplast began pivotal studies in early 2022, with the ambition to obtain pre-market approval for a Class III device in the US and EU market. Launch expected in 2025/2026 Transaction The acquisition price consists of a USD 145 million upfront cash payment and an additional contingent future milestone payment The acquisition is debt financed using existing credit facilities and has no impact on Coloplast's dividend policy or long-term financial guidance Why Coloplast's ITNS solution? ✓ No need for patient compliance in therapy Long battery life ✓ Focused stimulation field near target nerve 73 1) Existing 3rd line therapies for OAB includes sacral neuromodulation, botox and percutaneous tibial nerve stimulation (PTNS) Coloplast#74The global Advanced Wound Care market remains large and growing The Advanced Wound Care market remains a significant value pool and is expected to grow despite the pandemic Silicone Foams and Gelling Fibers are the two biggest categories and grow faster than the market 74 Europe Market size in DKKbn DKK 24-26 bn growing 2-4% ROW Sc US Market size in DKKbn Silicone Foams 7-9 (4-6%) Silicone Foams and Gelling Fibers hold 11-13 (0-1%) DKK 24-26 bn growing 2-4% Others $ -45% of the market 2) Includes Alginates & Gelling Fibers 3-5 (2-4%) Gelling Fibers 2 Coloplast#75The Wound & Skin Care 2025 strategic plan Scale our China business by strengthening our commercial foundation and accelerate in silicone with 3DFit Technology Scale our US business in Acute channel with 3DFit Technology and maximise potential Wound & Skin Care portfolio Geographies Strategic enablers Lead with 3DFit Technology through new marketing and portfolio initiatives Launch new pipeline Including Biatain Fiber to close portfolio gaps and ensure strong lifecycle management 75 75 US Wound & Skin Care China EU Strive 25 SUSTAINABLE Emerging markets 3DFit Technology GROWTH LEADERSHIP 3DFit Technology Acceleration Pipeline Margin uplift Build on positive momentum in EU in silicone and 3DFit Technology and increase share of voice in selected markets Accelerate growth in key EM markets by investing in specific local opportunities Further growth Seek for acceleration by exploring inorganic opportunities Margin uplift Optimise sales mix and product profitability Coloplast#76In US Ostomy Care we continue to win across patient pathway We have gained significant share over the last years Bags & Plates acute share Source: Coloplast 76 +10%-pts 16/17 21/22 as we work on multiple fronts to win across the patient pathway 3-5 days >60 days -10 years ↑↑ Patients Acute Patients' first OC products Post-acute (incl. HHA) 80-90% of acute | patients go | through post- acute care Community Long-term use of products Highlights GPO wins and ostomy care sales force expansion in 21/22 湔 Dedicated Home Health team in 20/21 Moved SenSura Mio to a higher value reimbursement and launched MyOstomyLife by ColoplastⓇ Care in 21/22 ☐ Coloplast#77Coloplast has been awarded access to Vizient and Premier GPOs, ensuring a level playing field in ~75% of acute accounts 77 Coloplast has been awarded access to Vizient and Premier, the two largest GPOs in the US Acute members¹ Estimated Acute share² Contract start date Contract length Contract type 3,600 -25% April 1, 2023 3 years Multisource PREMIER vizient™ 7,500 -50% July 1, 2021 3 years Multisource TM* HEALTHTRUST 1,400 -15% October 1, 2020 3 years Single source Source: Coloplast, GHX 1. 2. Acute members can be part of more than one GPO Coloplast estimates based on primary GPO affiliation * Third party trademarks are the property of their respective owner(s) Coloplast#78Sustainability - key priorities and actions Improving products and packaging 12 RESPONSIBLE CONSUMPTION AND PRODUCTION Reducing emissions CLIMATE ACTION Responsible operations DECENT WORK AND GENDER EQUALITY ECONOMIC GROWTH Why is this a key priority: As a manufacturer of medical products made primarily of plastic, Coloplast embraces the responsibility to contribute to solving the problems with plastic waste, whilst maintaining the highest level of product safety. Why is this a key priority: As a growing company, we are challenged by a potential increase in our environmental footprint. We are rising to the challenge and have set an ambition of 100% reduction of scope 1&2 emissions by 2030¹)2) and run 100% on renewable energy by 2025 Why is this a key priority: Our people and culture are at the center of our Strive 25 strategy. Maintaining and developing a safe, inclusive and diverse working environment is key to delivering on our strategy. How will we achieve this? . Redesign packaging for minimal material use and/or switching to bio-based and recycled material in packaging Secondary and tertiary packaging already made of renewable materials and recyclable Focus this strategy period is on primary packing Further increase waste recycling through investigating new recycling technologies such as chemcycling, dry agglomeration, as well as new recycling partnerships How will we achieve this? • Scope 1 & 2: Renewable energy usage by switching to Power Purchase Agreements (PPAs) and phasing out natural gas Converting company cars to electric vehicles Scope 3: 50% emission reduction per product by 20301)2) Limiting the amount of goods transported by air Reducing business travel emissions How will we achieve this? Reducing loss-time injury rate through job-specific training Increasing the % of diverse teams and female representation at VP+ level through natural turnover and senior leadership focus Engaged workforce above industry benchmark 78 1) From base year 2018/19. 2) Target validated by Science-Based Targets initiative (SBTI) Coloplast#79H1 22/23 progress on key sustainability ambitions Improving products and packaging Recyclable packaging 1 2025 H1 FY Ambition 22/23 21/22 90% Reducing emissions² 2025 H1 FY Ambition 22/23 21/22 100% 78% Scope 1+2 emissions reduction (2030 ambition)2,5,7 Renewable 80% 76% Renewable material in packaging¹ energy usage? Responsible operations 15% Lost time injury frequency (ppm)6,7 8% 2025 H1 FY Ambition 22/23 21/22 2.3 2.4 2.0 100% 100% 100% 76% 72% White-collars trained in Code of Conduct¹ Production waste recycling 75% 74% 71% 50% Electric company cars1,3 Female representation 40% 23% 21% at VP+ level 4% (2030 ambition) 1,6 9% 75% 1) 2) 3) Metric will only be reported on a semi-annual or full-year basis From base year 18/19 Ambition beyond 2025 is 100% of company cars to be converted to electrical vehicles by 2030 4) Employee survey conducted twice a year. Ambition is to be above industry benchmark, currently 7.6 (Q1 2022/23) Business travel 10% reduction 5) Target validated by Science-Based Targets initiative (SBTi) by air 1,2 and then freeze 6) Figures for H1 2022/23 includes Atos Medical -7) Four quarters rolling average Scope 3 emissions (2030 ambition) 1,2,5 50% reduction per 55% 55% % of Diverse teams¹ product 55% 8.1 8.2 >7.6 Employee satisfaction 1,4 All numbers are excluding Atos Medical, except Lost time injury frequency and Female Senior Leaders for H1 2022/23 79 < 5% of total Limit goods transported by 3% air¹ Coloplast#80Introducing Ostomy Care Disease areas • Colorectal cancer (est. 45%) • Bladder cancer (est. 10%) • Diverticulitis (est. 15%) Inflammatory bowel disease (est. 10%) • • Other (est. 20%) Customer groups • Nurses, mainly stoma care nurses • People with a stoma • • Wholesalers/distribution Hospital purchasers and GPOs • Surgeons Call points . • • Hospital & community nurses Hospital buyers Distributors • Dealers • • 80 Wholesalers Homecare companies Key products SenSuraⓇ Mio Concave Launched in 2018-2019 SenSuraⓇ Launched in 2006-2008 Distribution of revenues* Urostomy Ileostomy Colostomy SenSuraⓇ Mio Convex Launched in 2015 SenSura® Mio Launched in 2014 AssuraⓇ new generation Launched in 1998 *Excluding baseplates, hospital assortment, sets and supporting products AlternaⓇ original Launched in 1991 Coloplast#81Introducing Ostomy Care Supporting Products Key products Brava" Protective Seal Market fundamentals . Market size of DKK 3-4bn • . Market growth of 6-8% Market share 35-40% Main competitors include: Hollister Adapt, ConvaTec, 3M Cavilon, Eakin Customer groups & call points • Nurses, mainly stoma care nurses • People with a stoma • Wholesalers/distributors • Hospital purchasers and GPOs • Surgeons Coloplast O BravaⓇ Protective Seal Designed for leakage and skin protection BravaⓇ Skin Barrier Reducing skin problems without affecting adhesion BravaⓇ Elastic Tape Elastic so it follows the body and movements Brave Protective Sai Congas Coloplast Coloplost BravaⓇ Protective Seal Convex Designed for leakage and skin protection BravaⓇ Adhesive Remover Sting free and skin friendly BravaⓇ Lubricating Deodorant Neutralizing odour BravaⓇ is a range of ostomy supporting products designed to reduce leakage or care for skin, to make our end-users feel secure. The Brava portfolio was launched in 2012. Market value by geography European markets Other developed markets Emerging markets 81 Coloplast#82Introducing Continence Care Key products Disease areas • Spinal Cord Injured, SCI • Spina Bifida, SB • • • Multiple Sclerosis, MS Benign prostatic hyperplasia (BPH) & prostatectomy patients Elderly Customer groups • • • Continence or home care nurses Wholesalers/distributors Hospital purchasers and GPOs Main call points • Rehabilitation centres • Urology wards • Distributors, dealers & wholesalers 82 Luja™ Intermittent catheter with Micro-hole Zone Technology™ Launched in 2023 SpeediCathⓇ Flex Set Intermittent Set catheter Launch during 2022-2023 P SpeediCathⓇ Navi Intermittent catheter Launched in 2019-2020 SpeediCathⓇ Flex Intermittent catheter Launched in 2016 External catheter Intermittent catheter Launched in 1999 Launched in 2005- 2006 Conveen® Optima ConveenⓇ Security+ Launched in 2013 SpeediCathⓇ Compact Eve Intermittent catheter Launched in 2014 SpeediCathⓇ Compact Male Intermittent catheter Launched in 2011 SpeediCathⓇ Standard Distribution of revenues Intermittent catheters Urine bags Male ext. Catheters Bowel management CC Other Coloplast#8383 83 Introducing Bowel Management Key products Disease areas Faecal incontinence (management products only) Customer groups • Spinal Cord Injured, SCI • Spina Bifida, SB • Multiple Sclerosis, MS Call points • Rehab centers • Pediatric clinics • Urology wards PeristeenⓇ Plus Anal Irrigation Launched in 2021 Market dynamics PeristeenⓇ Anal Irrigation Launched in 2003 Updated in 2011 Still taboo area and non-focus for professionals (doctors) Very little patient awareness + Growing awareness + Huge underpenetrated and unserved population + New devices addressing the many unmet needs ÷ Training required (nurses, patients) Lack of reimbursement Distribution of revenues Peristeen anal irrigation Anal plug Coloplast#84Introducing Voice & Respiratory Care Laryngectomy Disease areas People that have undergone a total laryngectomy, a typical treatment for advanced laryngeal and hypopharyngeal cancer and cancer recurrence Market dynamics . 50,000 new total laryngectomy (TL) surgeries performed annually Only -1/3 of patients undergoing TL surgery are treated with products, of which only ~50% use the appropriate amount of products Average value per patient is DKK 20-30,000 in mature market Key products - Laryngectomy Provox® Life ™ Heat and Moisture Exchangers (HMES) Provox® Life Adhesive ProvoxⓇ HMES Voice Prostheses Home Go Night Protect Energy Free hands PROVOK Standard Life TM Adhesive ACCEO Atos Standard PROVOX Sensitive Life Adhesive AURCE Atos Sensitive Stability Accessories PROVOK Adhesive Remover Micron XtraFlow ProvoxⓇ Vega Provox® Vega ProvoxⓇ XtraSeal ActiValve PROVOX Night Adhesive ACRICES Night PROVOX Skin Burnier Provox Adhesive remover Provox® Skin barrier Atos 84 Distribution of revenues* HMES Adhesives Voice Prostheses Accessories *Based on revenue split from 2020 Coloplast#85Introducing Voice & Respiratory Care Tracheostomy • Disease areas • Performed when the airways are restricted, e.g., during an emergency when the airways are blocked, or when a disease or other problem makes normal breathing impossible. Can be temporary or permanent. Market dynamics • ~1 million estimated number of procedures globally • Estimated 20% are permanent (across different patient groups, for example neck and throat cancer patients, neurological diseases, patients with chronic obstructive pulmonary diseases), the rest 80% are temporary • The market today mainly consists of tubes used for breathing • Market growth estimated between 3-5% 85 Key products - Tracheostomy FreeventⓇ XtraCare™ TrachPhoneⓇ FreeventⓇ DualCare™ TracoeⓇ twist Tracheostomy Tube TRACOE® Portfolio expansion • . Strengthened the tracheostomy product portfolio with the acquisition of the TracoeⓇ Group. The Tracoe Group develops, manufactures, and sells a full and complementary range of tracheostomy care products, including percutaneous dilation sets for the beginning of care Coloplast#86Introducing Interventional Urology Surgical treatment of urological disorders Key products Disease areas • Urinary incontinence • Pelvic organ prolapse • Erectile dysfunction • Enlarged prostate • Kidney and urinary stones TitanⓇ Touch Inflatable Penile Prosthesis Launched in 2013, Men's health AltisⓇ single incision sling Launched in 2012 Women's health - Surgical Urology Customer groups Surgeons Purchasing departments and organizations • End customers IsirisⓇ cystoscope Launched in 2015 Single use devices Call points • . • Urologists Uro-gynaecologists Gynaecologists Purchasing departments and organizations Distribution of revenues Men's Health Women's Health Single use devices 86 JJ stents Launched in 1998 Single use devices Thulium Fiber Laser Drive Launched in 2022 Endourology Coloplast#87Introducing Wound Care Key products Disease areas Chronic wounds • Leg ulcers • Diabetic foot ulcers • Pressure ulcers Customer groups & call points Hospitals . Wound care committees • Specialist nurses/doctors . (Purchasers) Community • • • • Specialist nurses/doctors General practitioners District/general nurses Large nursing homes 87 Batam Scave BiatainⓇ Silicone Non-Border Silicone foam dressing without a border. Launched in 2021 Biatain® Fiber Reinforced gelling fiber. Launched in 2020 BiatainⓇ Contact Silicone contact layer. Launched in 2019 BiatainⓇ Silicone Ag. Antimicrobial foam dressing with gentle silicone adhesive. Launched in 2018 BiatainⓇ Silicone Foam dressing with gentle silicone adhesive. Launched in 2016 Comfeel® Plus Hydrocolloid dressing. Relaunched in 2016 Distribution of revenues (WSC) BiatainⓇ range ComfeelⓇ range Skin Care Wound Care other Contract manufacturing Coloplast#8888 88 Introducing Skin Care Disease areas Moisture associated skin damage Incontinence • • Skin folds & obesity • Prevention of skin impairments Customer groups & call points Hospitals Clinical Specialists Supply Chain Value Analysis Committee Community Wound Clinics Long Term Care . Home Health Agencies Distribution Key products Once a Day Moisturizing Body Cream For Nonma to Dry Pay, Hohy Sidn Once a Day Bong Colpi No-Rinse, Self-Foaming Disposable Wash Cloth For ful or Pur Body Bathing Coloplast Sween Broad line of skin care products Designed to increase consistency of care EasiCleanseⓇ Bath Disposable bathing wipes Improves patient experience C Clear Moisture Barrier Clear Moisture Barrie Ointment With Antifungal Metan Due 2 For Lig Critic-Aid® Clear / AF Skin Protectant Suitable for neonate to geriatric patients InterDryⓇ Ag Textile with antimicrobial silver complex Unique solution for skin on skin issues Product mix Protectants & Antifungals Cleansing/Bathing Moisturizers Textile SC Other Coloplast#89At a glance US Skin Care 89 US Skin Care market Market drivers and limiters + Aging and obese population US market size estimated + CMS Value Based Purchasing at DKK 4-5bn with 2-4% growth + Increased focus on prevention Market share: 10-15% + Increased importance of utilization management Main competitors include: ÷ Consolidation of Providers • Medline Industries Increased competition from both Channel and Manufacturers Sage (part of Stryker) Market trends • Increasing size and vertical integration of health systems • Increasing importance of prevention • • Increasing importance of utilization management Increasing scale and vertical integration of market leaders Coloplast#90The Coloplast organisation is divided into Chronic Care and Strategic Business Units, running on shared global business support functions Coloplast Group 90 Chronic Care Ostomy Care Strategic Business Unit Wound Continence Care & Skin Care Marketing Sales Regions R&D Marketing Sales Regions Global Operations Global Business Support Functions Interventional Urology Q Marketing Sales R&D Operations . Voice & Respiratory Care • Marketing Sales • R&D Operations Part of the ongoing integration Coloplast#91The Coloplast Executive Leadership Team Kristian Villumsen President, CEO (Born 1970) With Coloplast since 2008 Nicolai Buhl Andersen EVP, Innovation (Born 1969) With Coloplast since 2005 Anders Lonning-Skovgaard EVP, CFO (Born 1972) With Coloplast since 2006 Paul Marcun EVP, Growth (Born 1966) With Coloplast since 2015 Dorthe Rønnau SVP, People & Culture (Born 1966) With Coloplast since 2022 Allan Rasmussen EVP, Operations (Born 1967) With Coloplast since 1992 91 Coloplast#92Income statement DKKm Revenue Gross profit SG&A costs Q2 2021/22 Q2 2022/23 Change H1 2021/22 H1 2022/23 Change 5,502 6,061 10% 10,671 12,166 14% 3,781 4,027 7% 7,311 8,173 12% -1,884 -2,159 15% -3,571 -4,321 21% R&D costs -222 -209 -6% -427 -425 0% Other operating income/expenses 11 12 9% 22 18 -18% Operating profit (EBIT) before special items 1,686 1,671 -1% 3,335 3,445 3% Special items -381 -20 nm -415 -33 nm Operating profit (EBIT) 1,305 1,651 27% 2,920 3,412 17% Net financial items -18 -190 nm -76 -524 nm Ταχ Net profit Key ratios -307 -306 0% -657 -606 -8% 980 1,155 18% 2,187 2,282 4% Gross margin 69% 66% 69% 67% EBIT margin before special items 31% 28% 31% 28% EBIT margin 24% 27% 27% 28% Earnings per share (EPS) before special items, diluted 5.99 5.51 -8% 11.77 10.86 -8% 92 22 Coloplast#93Balance sheet DKKm Balance, total Assets Non-current assets Current assets of which: 31 Mar 2022 31 Mar 2023 Change 35,170 35,302 0% 27,001 25,979 -4% 8,169 9,323 14% Inventories 2,870 3,512 22% Trade receivables 3,648 3,988 9% Marketable securities, cash, and cash equivalents 737 644 -13% Equity and liabilities Total equity Current liabilities of which: Trade payables Non-current liabilities Other credit institutions 7,273 7,034 -3% 3,086 18,835 510% 24,811 9,433 -62% 755 1,136 50% 20,392 4,392 -78% Key ratios Equity ratio 21% 20% Invested capital 28,916 29,337 1% Return on average invested capital before tax (ROIC) ¹) Return on average invested capital after tax (ROIC) ¹) 32% 24% 1) 25% 19% Net asset value per share, DKK 1) This item is before Special items. After Special items, ROIC before tax was 25% (2021/22: 55%) and ROIC after tax was 20% (2021/22: 43%) 93 34 33 -3% Coloplast#94Cash flow DKKM EBIT H1 2021/22 H1 2022/23 Change 2,920 3,412 17% Amortisation 87 167 92% Depreciation 324 362 12% Adjustment for other non-cash operating items 172 -81 nm Change in working capital -1,086 -1,289 19% Net interest payments Paid tax Cash flow from operations Investment in intangibles CAPEX¹ Investment in other investments Acquisition of subsidiaries -52 -143 175% -984 -1,252 27% 1,381 1,176 -15% -61 -134 120% -402 -430 7% -17 nm -10,633 nm Securities 200 nm Cash flow from investments -11,096 -381 nm Free cash flow -9,715 795 nm Dividends -2,979 -3,185 7% Net aquisition of treasury shares and exercise of share options Repayment of lease liabilities -435 7 -102% -107 -119 11% Financing through issuing long-term bonds 16,373 nm Hedging gain nm Drawdown on credit facilities -3,081 2,748 -189% 1) Net CAPEX including divestment of PPE and excluding finance leases 94 Coloplast#95Manufacturing setup Production by country (Volume)¹ Hungary China US/France Denmark Costa Rica Atos (SE/DE) 3% 5% 0% 11% 4% Minneapolis Mankato Mørdrup © Nieder-Olm Sarlat Hörby Tatabánya Nyirbátor Costa Rica m 77% COGS by cost type² Salary - Direct Salary - Indirect 11% 9% 6% 12% 12% Materials (RM &SFG) 5% Depreciations & amortisations Energy Freight Other³ 1) Produced quantity of finished goods 2) FY 2021/22 Cost of goods sold, DKK 7,050m 3) Other includes IT, repair & maintenance costs, etc. 95 떼 55% Zhuhai Innovation & Pilot Centre High Volume Production Specialised Production High Volume Production under construction Coloplast#96Production sites Hungary Tatabánya • Ostomy care products Coloplast Adhesives • Continence care products Tatabánya PDC Nyírbátor 96 Interventional Urology products Number of employees in production: ~1,700 China Zhuhai • Postponement & packaging • Cross docking • • Distribution & shipping Warehousing • Number of employees: ~550 Costa Rica Cartago • Continence care products • Wound care products • • Consumer products Number of employees in production: ~2,750 Colle . Continence care products Ostomy care products Machine building Number of employees in production: ~900 The first high volume production site became operational in Q2 2020/21 • The second high volume production site opened in Q3 2021/22 . Ostomy care products • Number of employees in production: ~450 Coloplast#97Production sites Denmark Mørdrup France Sarlat • Pilot development work Ostomy care, Continence care and Wound care • Adhesives production • Number of employees in production: ~200 Disposable surgical urology products Number of employees in production: ~200 Sweden Hörby Research & Development centre and manufacturing of laryngectomy products Number of employees in production: ~120 97 Germany Nieder-Olm • • Specialised production • Research & Development centre and manufacturing of tracheostomy products Number of employees in production: ~170 US Minneapolis Interventional Urology products Number of employees in production: ~100 Mankato Skin care products Ostomy care supporting products Number of employees in production: ~100 Coloplast#98Our Global Operations Plan 6 will be announced in 2023, key themes will be resilience and optimizing the footprint. Moving focus of GOP6 to further strengthening our model while delivering continued leverage effect on fixed costs and efficiency improvement 2008 2009 2012 2017 Turn-around GOP1 Focused execution GOP2/GOP3 Operational Excellence GOP4 Operational Excellence 98 • New Costa Rica factory • Closure of the Thisted site • Hungary ramp-up • Reduced risk of supply disruptions • 150 bps EBIT margin improvement 2020 2023-2026 GOP5 Step change • • • Automation Procurement and investing in risk mitigation Additional factory in Costa Rica and investments in flexible distribution setup GOP6 Resilience • Implementation • • • from 2023 • Optimize the footprint Further standardization One new volume site towards the end of GOP6 Coloplast#99Coloplast Sponsored Level 1 ADR programme Coloplast Sponsored ADR Programme Symbol CLPBY Structure Level 1 ADR Exchange OTC CUSIP DR ISIN Ratio Country Underlying SEDOL Underlying ISIN Depositary Bank 19624Y101 US19624Y1010 10 ADRS: 1 ordinary share Denmark B8FMRX8 DK0060448595 BNY Mellon Benefits of a Coloplast ADR programme to US Investors: Coloplast has established a sponsored ADR programme in the US, as a service to US investors by offering an alternative way to trade Coloplast shares, while serving to further broaden the company's shareholder base over the long term. Clear and settle according to normal US standards Offer the convenience of stock quotes and dividend payments in US dollars Can be purchased/sold in the same way as other US stocks via a US broker Provide a cost-effective means of international portfolio diversification Ability to acquire the underlying securities directly upon cancellation For questions about creating Coloplast ADRs, please contact BNY Mellon: New York Rick Maehr email: [email protected] Tel: +1 212 815 2275 London Mark Lewis email: [email protected] Tel: +44 (0)20 7964 6089 99 99 Coloplast#100100 Contact Investor Relations Aleksandra Dimovska Senior Director, Investor Relations Tel. direct: Office: +45 4911 2458 +45 4911 1800 [email protected] Kristine Husted Munk Senior Manager, Investor Relations Tel. direct: Office: +45 4911 3266 +45 4911 1800 [email protected] Otto Munk Madsen Junior Assistant, Investor Relations Tel. direct: Office: +45 4911 3290 +45 4911 1800 [email protected] Hannah Katrine Larsen Coordinator & PA, Investor Relations (On maternity leave) Holtedam 1 DK-3050 Humlebæk Denmark Coloplast#101Mission 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