ANNUAL REPORT 2021

LUNDBECK ANNUAL REPORT 2021 = CONTENTS 21/111 DISCLIAMER Forward-looking statements are subject to risks, uncertainties and inaccurate assumptions. This may cause actual results to differ materially from expectations. Various factors may affect future results, incl. interest rates and exchange rate fluctuations, delay or failure of development projects, production problems, unexpected contract breaches or terminations, governance-mandated or market-driven price decreases for products, introduction of competing products, Lundbeck's ability to successfully market both new and existing products, exposure to product liability and other lawsuits, changes in reimbursement rules and governmental laws, and unexpected growth in expenses. DIVIDEND The Board of Directors proposes a dividend of 30% of net profit for 2021 in line with our pay-out policy of 30-60%. This corresponds to DKK 2.00 per share. The dividend pay-out is subject to approval at the Annual General Meeting on 23 March 2022. GUIDANCE 2022 Lundbeck's financial results for 2022 are expected to be driven by the continued strong growth of Abilify MaintenaⓇ, BrintellixⓇ/Trintellix®, RexultiⓇ/RxultiⓇ and VyeptiⓇ. Lundbeck's total revenue is expected to reach between DKK 16.7 billion and 17.3 billion in 2022. Core EBIT is expected to reach between DKK 3.6 billion and 4.0 billion and EBIT is expected to be in the range between DKK 2.2 billion and 2.6 billion. Lundbeck has foreign currency risks mainly in USD, CNY and CAD. The financial guidance for 2022 is based on the current hedging rates for those currencies; i.e. USD/DKK (6.34), CNY/DKK (0.96) and CAD/DKK (5.01) and includes an expected hedging loss of approximately DKK 200 million. Based on our assumptions for product and geographical mix, it is estimated that a 5% change of the USD/DKK exchange rate will impact revenue by around DKK 250 million. The financial guidance for 2022 is summarized below: FINANCIAL GUIDANCE 2022 DKK Revenue 4.0-4.4 bn FY 2021 actual 16,299 m FY 2022 guidance 16.7 17.3 bn EBITDA 3,720 m Profit from operation (EBIT) Core EBIT 2,010 m 2.2 -2.6 bn 3,517 m 3.6-4.0 bn

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