The Ipsen Investment Case

IPSEN Innovation for patient care Nov-19 Mar-20 Jul-20 Nov-20 FY 2021: Oncology sales highlights Somatuline 1,145 Sales (Єm) +7.1% 1,203 2021 Somatuline autogel® lanreotide Continued attractive NET market growth recovering from the pandemic Expanding market share further with a limited impact from generic SSAs in 2021 Mar-21 Jul-21 2020 Global SSA market growth (volume in MEU): 10% 4% -2% rolling three months 2022 expectations Further launches of generic lanreotide in other countries in the E.U., as well as increased competition in the U.S. Nov-21 Somatuline sales growth at constant exchange rates. Absolute values are shown at actual exchange rates. NET: neuroendocrine tumors; SSA: somatostatin analog; MEU: monthly equivalent units. Source: in-market demand IQVIA MIDAS / GERS (FR). Global calculation based on the following: the U.S., the EU5, the Nordics excl. Denmark, Benelux, Poland, Portugal, Russia, Brazil and Canada. 21 23

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