9M 2023 Financial Performance

9M 2023: APPENDIX Q3 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 Q3 2023 Q3 2022 Change (CER)1) 4,952 4,719 5% 7% 3,854 3,758 3% 4% 67 447 1,796 409 9% 12% 1,653 9% 16% 23 30 (23%) (20%) 36.3% 35.0% 351 247 42% 45% thereof adjustments 69 thereof depreciation/amortization 6 5 20% 0% Administrative expenses ratio 7.1% 5.2% Research and development costs 816 906 (10%) (8%) thereof adjustments thereof depreciation/amortization 18 18 (0%) (0%) R&D-ratio 16.5% 19.2% Total operating expenses OPEX-ratio EBIT (profit from operations) Depreciation/amortization EBITDA EBITDA margin (%) Restructuring expenses Other adjustments 2,963 2,806 6% 11% 59.8% 59.5% 891 952 (6%) 14% 494 462 7% 10% 1,385 1,414 (2%) (7%) 28.0% 30.0% 136 Adjusted EBITDA 1,521 Adjusted EBITDA margin (%) 30.7% 1,414 30.0% 8% 1% 46 1) Change at CER does not include effects from hedging Lundbeck

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