Corporate Presentation

2024 financial guidance DKK million 2024 Guidance ZBAL& ZEALAND PHARMA 2023 Actual Revenue anticipated from existing and new license and partnership agreements No guidance 343 due to uncertain size and timing Net operating expenses1 1,100 - 1,200 896 Notes 1. Net operating expenses consist of R&D, S&M, G&A and other operating items Financial guidance based on foreign exchange rates as of February 27, 2024 49 49

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