Investor Presentaiton

Solid 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

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