ANNUAL REPORT 2021

LUNDBECK ANNUAL REPORT 2021 = CONTENTS 111/111 CORE RECONCILIATION Part of Management review CONTINUED Amortization Reported of product result rights Core results DKKm DKKM Acquisition Impairment and inventory valuation DKKm Major restructuring DKKm and integration costs DKKm Legal fees and Divestments/ settlements DKKm sales milestones DKKm Core result DKKm 1 January 31 December 2020 Divestments/milestones, including: • Income/expenses from discontinued operations • Gains/losses on divestments of assets • Received or expensed upfront sales and development milestones The adjusted core result is taxed at the underlying corporate tax rate. Gross profit Sales and distribution costs Administrative expenses Research and development costs Other operating expenses, net Profit from operations (EBIT) Revenue 17,672 17,672 Cost of sales 4,166 13,506 (1,548) 1,548 (47) 2,571 47 15,101 5,946 5,946 966 966 4,545 (792) 3,753 59 (59) 1,990 1,548 839 59 4,436 Net financials, expenses 84 84 Profit before tax 1,906 1,548 839 59 4,352 Tax on profit for the year 325 244 11 14 594 Profit for the year 1,581 1,304 828 45 3,758 Earnings per share, basic (EPS) (DKK) 7.96 6.56 4.17 0.23 18.92

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