INVESTOR & ANALYST PRESENTATION May 2013 Company disclaimer This presentation contains forward-looking statements that provide our expectations or forecasts of future events such as new product introductions, product approvals and financial performance. Such forward-looking statements are subject to risks, uncertainties and inaccurate assumptions. This may cause actual results to differ materially from expectations and it may cause any or all of our forward- looking statements here or in other publications to be wrong. Factors that may affect future results include interest rate and currency exchange rate fluctuations, delay or failure of development projects, production problems, unexpected contract breaches or terminations, government-mandated or market-driven price decreases for Lundbeck's 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 related interpretation thereof, and unexpected growth in costs and expenses. Lundbeck undertakes no duty to update forward-looking statements. Certain assumptions made by Lundbeck are required by Danish Securities Law for full disclosure of material corporate information. Some assumptions, including assumptions relating to sales associated with product that is prescribed for unapproved uses, are made taking into account past performances of other similar drugs for similar disease states or past performance of the same drug in other regions where the product is currently marketed. It is important to note that although physicians may, as part of their freedom to practice medicine in the US, prescribe approved drugs for any use they deem appropriate, including unapproved uses, at Lundbeck, promotion of unapproved uses is strictly prohibited. 2 NOT FOR PROMOTIONAL USE Q1 highlights • Revenue increased 33% excluding Lexapro US Sales • Continuous operations up 13% development • New Products* increased by 36% • Selincro launched in selected EU markets R&D • Abilify Maintena launched in the US • Partnership agreement with Otsuka for Lu AE58054 • Financial results for Q1 2013 in line with full year Financial expectations performance • 2013 outlook suggests revenue of DKK 14.4-15bn and EBIT of DKK 1.9-2.4bn *New Products: Xenazine, Sabril, Sycrest, Lexapro (Japan), Onfi and Treanda 3 NOT FOR PROMOTIONAL USE Continued robust momentum in new markets USA • Sales growth of 17% y/y in the quarter, excluding Lexapro • Onfi generated DKK 96 million in the quarter, a growth of 94% Japan • Sales increased by 132% y/y in the first quarter in local currency • Lexapro has a market share of 8.4% Europe • Sales increased 3% y/y in the quarter • Azilect sales reached DKK 320 million with a growth of 24% Other • International Markets grew 17% in the first quarter • China continues its solid performance growing 83% y/y in the quarter 4 NOT FOR PROMOTIONAL USE New Products headlines Xenazine revenue for Q1 2013 was DKK 315 million (+12% y/y) On track to meet peak sales of DKK >1.5 billion Lexapro in Japan generated revenue of DKK 61 million in Q1 2013 (+101% y/y) Lexapro had a market share of around 8.4% in April Onfi generated revenue of DKK 96 million in Q1 2013 (+94% y/y) On track to meet peak sales of up to DKK 1 billion Sabril revenue in Q1 2013 was DKK 118 million (+38% y/y) More than 1,700 patients now in treatment with Sabril Treanda launched in Canada in September 2012 Expected to reach DKK ~0.5 billion in annual sales Selincro launched in Finland, Norway, Poland and Baltic countries Expected to reach DKK 2-2.5 billion in annual sales 5 NOT FOR PROMOTIONAL USE Strong growth in New Products to be fueled by further launches Revenue from New Products increased Q1 revenue for New 36% y/y in the first quarter of 2013 Products* % of DKKm revenue 700 60% All new products contribute to the 600 50% growth in the quarter 500 Revenue from New Products 40% New Products as a New Products constitute 16% of total % of total revenue 400 revenue in the quarter (excl. non 30% recurring items) 300 20% 200 Three new products expected to be launched in 2013 10% 100 Abilify Maintena 0 0% Selincro 2009 2010 2011 2012 2013 2015e *New Products include all current and potential products launched in the 2008-2015 period Brintellix - filed 6 NOT FOR PROMOTIONAL USE China represents a major opportunity for Lundbeck Increased presence in China Local partnerships with Xian-Janssen and China Medical Systems (CMS) China a top 5 market for Lundbeck in Q1 2013 The Chinese pharmaceutical market is fast evolving CNS market increased 26% in 2012 Lundbeck products has close to 25% of the depression market and Ebixa has ~30% of the Alzheimer’s market Launch of Azilect in a couple of years pending approval 77 NOT FOR PROMOTIONAL USE Abilify Maintena launched in the US Relapse has a significant negative impact on the patients with schizophrenia …leverages on the extensive clinical experience with oral Abilify Relapse is substantially driven by poor adherence …is set to expand the long-acting market in schizophrenia Adherence is primarily influenced by the patients’ poor insight and acceptance of the …is expected to reach peak sales of DKK efficacy / side effect balance 2-2.5 billion (in total for Lundbeck) Abilify Maintena can help physicians address those challenges and protect their patients from The global depot market amounts to USD the natural course of the disease 2.4 billion CAGR of 21% from 2007-2011 8 NOT FOR PROMO TIONAL USE Selincro launched in first European markets Selincro is the first and only product targeting alcohol reduction Strong interest in the concept from many stakeholders Selincro launched in Finland, Norway, Poland and Baltic countries Selincro is expected to significantly increase the treatment ratio from currently ~4% Peak sales DKK 2-2.5 billion The Selincro Patient Alcohol dependent High risk drinking level No physical withdrawal symptoms/ no need for immediate detoxification 9 NOT FOR PROMOTIONAL USE Lundbeck invests to grow – a solid late- stage development portfolio Phase II Phase III Registration app. Tedatioxetine* Brintellix MOOD DISORDERS (Lu AA24530) (Vortioxetine) Y R Abilify Maintena (EU) T PSYCHOSIS A IH C Zicronapine* Y S P S E ALCOHOL DEPENDENCE S A E S ID N DEPRESSION/SCHIZOPHRENIA Brexpiprazole IA (OPC-34712) R B ALZHEIMER’S DISEASE Lu AE58054 Lu AE58054 Y G O L O EPILEPSY IV carbamazepine R U E N Desmoteplase OTHER (stroke) *No active clinical programme ongoing 10 NOT FOR PROMOTIONAL USE