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September 2017

Zealand Pharma A/S

Zealand factsheet Based in Denmark – home to a world-leading healthcare industry.

– the country with the largest commercial drug development pipeline in Europe, according to investindk.com.

Founded in 1998 to design and develop -based medicines. We are a Danish biotech company discovering and developing novel peptide-based medicines. Listed on Nasdaq Dual-listing on Nasdaq in We are passionate about improving patients’ lives and Copenhagen and New York: ZEAL committed to delivering value for all our stakeholders. People We intend to be a world leader in medicines focusing on 130 employees, 80% hereof in R&D specialty gastrointestinal and metabolic diseases. Management Britt Meelby Jensen President and CEO Mats Blom EVP and CFO Zealand Pharma A/S Adam Steensberg EVP and CMO Company reg. no. 20045078 Andrew Parker EVP and CSO In brief

Branded products in care commercialized by Disease focus under an exclusive worldwide license Zealand discovers and develops novel peptide-based medicines focusing on specialty gastrointestinal and metabolic diseases is marketed as Adlyxin® in the U.S. and Soliqua® 100/33 is a combination of lixisenatide and Lantus® is approved as Lyxumia® in more than 60 countries and is marketed by Sanofi in the U.S. The product was worldwide and marketed in over 40 of these by Sanofi. launched as Suliqua® in the first EU country in May 2017. Commercial launches include most EU countries, Japan, Suliqua® will be delivered in two pre-filled SoloSTAR® pens, Gastrointestinal (GI) Brazil, Mexico and India. providing different dosing options. diseases

Zealand is building on its experience with Clinical product pipeline glepaglutide to further exploit its peptide platform and develop additional therapies 4 fully owned product 2 product candidates in addressing patient needs in GI diseases. candidates in Phase 2/3 partnerships in Phase 1 • Glepaglutide* for short bowel syndrome (SBS) • GLP1-GLU dual for obesity/ Metabolic diseases • * for acute, severe analog for obesity/type 2 diabetes • Dasiglucagon* for care Zealand has already had considerable • Dasiglucagon for congenital hyperinsulinemia success in developing novel treatments for metabolic diseases, with two products on the market with our partner Sanofi providing Scientific focus and platform benefit to diabetes patients. Our pipeline includes dasiglucagon, which completed a successful Phase 2 study in 2016, as well as two programs with Boehringer Ingelheim. Drug discovery Zealand has received an orphan drug We invent and develop medicines focusing on Zealand has a successful 18-year history of discovering designation for its analogue for specialty gastrointestinal and metabolic diseases. and optimizing peptide therapeutics as novel drugs. the treatment of congenital hyperinsulinism.

* Glepaglutide and dasiglucagon are proposed International Nonproprietary Names (pINN). Read more about Zealand on our website

Zealand Pharma A/S Factsheet – September 2017 2 Product pipeline

Clinical pipeline and preclinical partnered programs

Product candidate Indication Development stage 2017 milestone Status

Preclinical Phase 1 Phase 2 Phase 3 Registration

Glepaglutide*1 Short bowel Phase 2 Phase 2 results Achieved GLP-2 analog syndrome

Dasiglucagon*1 Acute, severe Phase 3 Phase 3 initiation Achieved Rescue Pen hypoglycemia ( shock)

Dasiglucagon*1 Type 1 diabetes Phase 2a Phase 2a results Achieved Pump therapy management

Dasiglucagon*1 Congenital Phase 1 Phase 2 initiation Rare diseases Hyperinsulinism

GLP1-GLU2 Obesity/type 2 Phase 1 Phase 1 initiation Achieved dual agonist diabetes

Amylin Obesity/type 2 Phase 1 Phase 1 initiation Achieved analog2 diabetes

* Glepaglutide and dasiglucagon are proposed International Nonproprietary Names (pINN). Read about our disease focus on our website 1 Fully owned by Zealand. 2 Global development and commercial rights are owned by Boehringer Ingelheim. Read about marketed products on our website

Zealand Pharma A/S Factsheet – September 2017 3 Financials

2016 year-end cash position 2012-2016 revenue Highlights H1 2017 Our approach

DKKm m • Revenue: We build for success by maintaining a lean 20 DKK 88.4 million, and agile organization and by partnering

200 USD 13.6 million with the best in their fields, leading to greater efficiency and better results. 10 • Cash position 30 June 2017: 642 DKK 308.3 million, 100 We have a history of successful outlicensing USD 47.3 million* partnerships. Going forward, we will engage 0 • Net operating expenses: in partnerships across all stages of the value Restricted Cash and cash 0 cash equivalents DKK 174.8 million, chain, but we will retain greater control and USD 23.3 million profitability.

In 2016, we partnered with high-quality Read our Annual Report 2016 on our website device and drug manufacturers and leading * Excluding U.S. IPO gross proceeds DKK 566 million/USD 90 million on 14 August 2017 Read our full H1 2017 Report on our website centers and hospitals to run our clinical development.

Financial calendar 2017 2017 financial guidance Core data for the share

Date Event DKKm/USDm 2017 guidance Number of shares, mid Aug 2017 30,718,652 How we work Nov. 8 Interim report for Q3 2017 Milestone revenue 100/15 Listing Nasdaq Copenhagen We have strengthened our organization with Net operating expenses¹ 390-410/60-63 and Nasdaq New York competencies enabling us to advance our Operating loss before Ticker symbol ZEAL royalty income/expenses 290-310/45-48 Index membership OMX Copenhagen Midcap product candidates through to registration and we will continue to expand our

¹ Net operating expenses consist of research, development and administrative expenses less operating income. organization with relevant skills to fulfill our ambition, while maintaining our agility and leanness.

For more information on Investor Relations

Mats Blom Executive Vice President and Chief Financial Officer (CFO)

[email protected] Zealand Pharma A/S zealandpharma.com Smedeland 36 2600 Glostrup Denmark

Zealand Pharma A/S Factsheet – September 2017 4