9M 2023 Financial Performance

9M 2023: APPENDIX 9M 2023: EBIT and Adjusted EBITDA Change DKKm Revenue Gross profit thereof adjustments thereof depreciation/amortization Sales and distribution costs thereof adjustments thereof depreciation/amortization S&D-ratio Administrative expenses thereof adjustments thereof depreciation/amortization Administrative expenses ratio Research and development costs thereof adjustments 9M 2023 9M 2022 Change (CER)1) 14,934 13,566 10% 9% 11,657 10,794 8% 6% 327 1,359 1,150 18% 19% 5,297 4,740 12% 15% (43) 70 77 (9%) (6%) 35.5% 34.9% 915 756 21% 22% 69 16 13 23% 15% 6.1% 5.6% 2,481 2,849 (13%) (12%) (5) thereof depreciation/amortization R&D-ratio 54 64 (16%) (14%) 16.6% 21.0% Total operating expenses OPEX-ratio EBIT (profit from operations) Depreciation/amortization EBITDA EBITDA margin (%) Restructuring expenses Other adjustments 8,693 8,345 4% 6% 58.2% 61.5% 2,964 2,449 21% 6% 1,449 1,304 15% 15% 4,463 3,753 19% 9% 29.9% 27.7% 15 (48) (131%) (131%) 381 Adjusted EBITDA 4,859 3,705 31% 20% Adjusted EBITDA margin (%) 32.5% 27.3% 45 1) Change at CER does not include effects from hedging Lundbeck

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