Slides
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Making life easier Joshua | User, Ostomy Care Impact4: Setting the standard of care at scale Roadshow presentation 9M 2025/26
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Forward-looking statements The forward-looking statements contained in this presentation, including forecasts of sales and earnings performance, are not guarantees of future results and are subject to risks, uncertainties and assumptions that are difficult to predict. The forward-looking statements are based on Coloplast’s current expectations, estimates and assumptions and based on the information available to Coloplast at this time. Heavy fluctuations in the exchange rates of important currencies, significant changes in the healthcare sector or major changes in the world economy may impact Coloplast's possibilities of achieving the long-term objectives set as well as for fulfilling expectations and may affect the company’s financial outcomes. 2
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CEO's first 100 days: priorities for the next phase of Impact4 3 ~25% of Group sales come from the US today #3 US Ostomy Care 15-20% market share (~6bnDKK market) #1* US Continence Care ~30% market share (6-7bnDKK market) #2 US Men's Health Fastest-growing IU segment * Shared #1 position with one competitor. 1 2 3 4 Sustain the strength and power of Chronic Care 5 Increase focus on US opportunity Accelerate Wound & Tissue Repair Fund growth through continuous improvement and focused capital deployment Evolve our culture and people agenda Increase focus on the US opportunity: #5 US Biologics 5-10% market share (16-18bnDKK market)
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Q3 2025/26 organic growth of 6% and 5% EBIT growth1,2. FY 25/26 guidance unchanged: 5-6% organic growth, ~5% EBIT growth1,7 4 • Organic growth was 6% and reported growth in DKK was 6%, as currencies had a net neutral impact. • Ostomy Care delivered 5% growth and a strong quarter excluding China at 7%, driven by double-digit growth in the US and solid momentum across Europe and Emerging markets ex. China. • Continence Care delivered 8% growth, driven by continued strong contribution from Luja. • Voice & Respiratory Care grew 6%; strong momentum in Laryngectomy, while Tracheostomy had a softer quarter. • Wound & Tissue Repair returned to growth at 3%, driven by an improved momentum in Advanced Wound Dressings including a benefit from stronger growth in Contract Manufacturing. Biologics remained negatively impacted by reimbursement-related challenges. • Interventional Urology grew 7%, driven by continued strong momentum in the US Men’s Health business. • EBIT2 was DKK 1,929 million. EBIT2 in constant currencies increased 5% compared to last year, while reported EBIT2,4 increased 1%. The EBIT margin2,4 was 26%, against 28% last year, and includes around 110 basis points negative impact from currencies and around 60 basis points negative impact from Kerecis. • Return on invested capital (ROIC) after tax before special items was 15%, on par with last year5. Strong free cash flow-to-sales ratio at 20%, compared to 16% last year6. FY 2025/26 guidance unchanged: organic growth expected at 5-6%, EBIT growth1,7 expected at ~5%, ROIC3 expected at ~15% • For organic growth we expect continued good momentum in Chronic Care ex. China and high-single-digit growth in Interventional Urology. • Kerecis is expected to deliver around 0% organic growth and around 0% EBIT margin. • Reported growth in DKK is expected at ~3%, with 2-3%-points negative impact from currencies. • Capex-to-sales ratio expected at ~5%. Effective tax rate expected at ~22%. • Special items is expected around DKK 3.1 billion, reflecting the DKK 3 billion Kerecis impairment loss. Revenue growth EBIT before special items Q3 2025/26 highlights 1. In constant currencies 2. Before special items expenses of DKK -18 million in Q3 2025/26 3. After tax, before special items. 4. Before special items expenses of DKK -83 million in Q3 2024/25. 5. Last year adjusted for the impact from the Kerecis IP transfer. 6. Excluding impact from the Uromedica acquisition this year and the Skin Care divestment last year. 7. Before special items expenses of around DKK 3.1 billion in FY 2025/26. Organic growth Reported growth Q3 25/26Q3 24/25 +6% +6% 6,958 7,355 Reported revenue (mDKK) 9M 24/25 9M 25/26 +6% +3% 20,914 21,482 5,718 5,599 9M 25/269M 24/25 +5% 27 26 1,915 1,929 Q3 25/26Q3 24/25 +5% 28 26 Reported EBIT margin (%) EBIT (mDKK) EBIT growth in constant currencies
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Strong quarter in Chronic Care ex. China and Interventional Urology; continued reimbursement-related challenges in Biologics 5 Continence Care Voice & Respiratory Care Wound & Tissue Repair Ostomy Care Coloplast Group Reported revenue mDKK Organic growth 7,355 Q3 2025/26 revenue by business area Q3 2025/26 revenue by geography Share of organic growth Business area European markets Reported revenue mDKK Organic growth 7,355 Share of organic growth Geographic area Other developed markets Emerging markets Coloplast Group Interventional Urology 28% 44% 8% 8% 12% 100% 57% 43% 1% 100% 2,589 2,401 607 759 999 6% 9% 0% 6% 5% 8% 6% 3% 7% 6% 4,146 2,034 1,175
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Ostomy Care ex. China delivered a strong quarter of 7% organic growth with strong double-digit growth in the US 6 Ostomy Care performance Q3 2025/26 highlights • Q3 organic growth was 5% and reported growth was 4%. • Ostomy Care excluding China delivered a strong quarter, with 7% organic growth and broad-based contribution across regions: • Solid performance in Europe, led by the UK, Italy and Germany and Emerging markets ex. China, led by LATAM. • In the US, growth was strong double-digit, reflecting a continuation of the strong underlying momentum from H1. • In China, a new sales channel strategy led to a significant inventory reduction and a temporary negative impact on growth in Q3. The underlying performance in China continued to be impacted by the continued weak consumer sentiment and competitive pressures from domestic players in the community channel. • China sales for the FY 2025/26 expected to decline high single-digit including impact from the planned inventory reduction in H2. • From a product perspective, the SenSura Mio portfolio was the main contributor to growth, followed by the Brava range of supporting products. • The latest SenSura Mio launches, the black bags and the new 2-piece offering, both continue to perform strongly. We continue to strengthen the portfolio with further variants expected to launch in H1 2026/27. Q3 25/26Q2 25/26Q1 25/26Q4 24/25Q3 24/25 4 3 012 2,5892,4792,5312,4822,477 Revenues (DKKm)Reported growth (%) Organic growth (%) 6 7 4 7 5
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Continence Care delivered a strong quarter of 8% in Q3 driven by continued strong contribution from Luja 7 Continence Care performance Q3 2025/26 highlights • Q3 organic growth was 8% and reported growth was 8%: • Growth was driven by the US and Europe, led by the UK, France and Germany. The US posted strong double-digit growth, with positive impact from order phasing between Q3 and Q4. • Growth in Emerging markets was negatively impacted by order phasing between Q3 and Q4. • From a product perspective, Luja, our intermittent catheter with a Micro-hole Zone Technology, was the main growth contributor in the quarter, driven by Europe, especially the UK and France, as well as the US. Both the male and female catheter continued to perform well. • Growth in the SpeediCath portfolio was driven by the standard and flexible catheters in primarily the US and LATAM. • Bowel Care continued its good momentum with strong double-digit growth in the quarter, driven by the Peristeen portfolio in Europe, while Collecting Devices delivered negative growth. Q3 25/26Q2 25/26Q1 25/26Q4 24/25Q3 24/25 887 9 84 233 8 2,4012,3272,2612,3122,233 Revenues (DKKm)Organic growth (%)Reported growth (%)
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Voice & Respiratory Care grew 6% in Q3, with strong momentum in Laryngectomy offsetting a softer quarter in Tracheostomy 8 Voice & Respiratory Care performance Q3 2025/26 highlights • Q3 organic growth was 6% and reported growth was 5%: • Laryngectomy delivered high single-digit growth, which continued to be driven by an increase in the number of patients served in existing and new markets, and an increase in patient value driven by the Provox Life portfolio. • Tracheostomy had a softer quarter with low single-digit growth, partly due to order phasing in distributor markets, with orders now expected to shift into Q4. • From a geographical perspective, all regions contributed to growth, driven by Europe and the US. Emerging markets continued to be the fastest growing region. Q3 25/26Q2 25/26Q1 25/26Q4 24/25Q3 24/25 6 8899 555 78 607596585574580 Revenues (DKKm)Organic growth (%)Reported growth (%)
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Wound & Tissue Repair returned to growth at 3% in Q3, driven by improved momentum in Dressings and stronger Contract Manufacturing 9 Wound & Tissue Repair performance Q3 2025/26 highlights • Q3 organic growth was 3% and reported growth was 3%. • Advanced Wound Dressings delivered 4% organic growth: • Growth was driven by good momentum in the US and positive impact from order phasing in Germany and the Middle East • China detracted from growth due to the product return initiated in Q3 last year. • From a product perspective, Biatain® Superabsorber was the main growth contributor. • Biologics declined 6% organic growth: • Sales was impacted by the significant sales disruption from the Medicare reimbursement change in the out-patient setting. • From a product perspective, SurgiClose® was the main growth contributor. • Contract Manufacturing had a strong quarter, positively impacted by phasing between Q3 and Q4, resulting in double-digit growth. 670 586 625 679 725 299 339 309 283 274 Q1 25/26Q4 24/25Q3 24/25 Q2 25/26 Q3 25/26 4 5 5 -2 3 -8 -11 -8 -6 3 999962933925969 Organic growth (%)Reported growth (%) WTR rev. Ex. Biologic (DKKm)Biologics (Kerecis) Rev. (DKKm)
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Continued strong momentum in Interventional Urology in Q3 with 7% growth, driven by the US Men’s Health business 10 Interventional Urology performance Q3 2025/26 highlights • Q3 organic growth was 7% and reported growth was 8%: • Men’s Health in the US delivered double-digit growth and was the main growth contributor, driven by the Titan Inflatable Penile Prosthesis (IPP). • In Kidney & Bladder Health, growth was mainly driven by an easier baseline from the voluntary product recall last year. • From a geographical perspective, the US continued to be the main growth contributor, followed by Europe. • Uromedica delivered a strong performance with revenues exceeding the expectations, and the acquisition continues to be well received by our existing Men’s Health customers. • In June 2026, Coloplast received FDA approval for Titan Prime IPP in the US, Coloplast’s next-generation penile implant. The product is expected to launch in the coming months. • Intibia, Coloplast's implantable tibial nerve stimulation solution for urge urinary incontinence1, demonstrated significant quality-of-life benefits versus sham treatment, sustained through 12 months2. Following PMA submission in Q1 2025/26, US launch is now expected at the beginning of 2027/28 due to the currently anticipated FDA review timing. Primary study results are expected to be published following completion of the review. Q3 25/26Q2 25/26Q1 25/26Q4 24/25Q3 24/25 7 88 2 4 8 23 -2 1 759720733667699 Revenues (DKKm)Organic growth (%)Reported growth (%) 1) Investigational device currently under development. Not cleared or approved for sale in U.S. or any market. 2) Randomized, Sham-Controlled, Double-Blind Trial of the Intibia System in Urge Urinary Incontinence: Quality-of-Life Outcome
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Reported revenue in Q3 grew 6%, as the development in currencies had a net neutral impact 11 • Reported revenue increased by DKK 397 million or 6% vs. last year. • Organic growth was 6% or DKK 406 million, driven by: • Strong quarter in Ostomy Care ex. China, with strong double-digit growth in the US. • Strong quarter in Continence Care, driven by continued strong contribution from Luja. • Solid quarter in Voice & Respiratory Care, with continued strong growth in Laryngectomy and softer performance in Tracheostomy. • Wound & Tissue Repair returned to growth, despite continued reimbursement-related challenges in Biologics. • Continued strong momentum in Interventional Urology, driven by the US Men’s Health business. • Uromedica had a small positive impact of 30 basis points to reported growth. • The development in foreign exchange rates had a net neutral impact on reported revenue.Growth Q3 2025/26 Revenue development (mDKK) Q3 2025/26 highlights 406 19 Reported revenue Q3 25/26 Currency effect InorganicOrganic growth (constant currencies) Reported revenue Q3 24/25 5.8% 0.3% -0.4% 5.7% +397 mDKK 6,958 7,355-28
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EBIT margin of 26%1 in Q3: ~110 basis points negative impact from currencies and ~60 basis points negative impact from Kerecis 12 • Gross margin of 67%, compared to 68% last year. • Negative impact from currencies (~150 basis points) and ramp- up costs in Costa Rica and Portugal. • Positive impact from lower inflation on freight versus last year. • The Middle East did not have any material impact on the gross margin in Q3 • Operating expenses amounted to DKK 2,979 million, a 7% increase from last year. • Distribution-to-sales ratio was 33%, a similar level to Q3 last year. • The Admin-to-sales ratio was 4%, against 5% last year. • The R&D-to-sales ratio was 4%, compared to 3% last year, driven by increased activity levels in Chronic Care and Kerecis. • EBIT before special items amounted to DKK 1,929 million, a 1% increase from last year. The reported EBIT margin before special items was 26%, against 28% last year, reflecting ~110 basis points negative impact from currencies and ~60bps negative impact from Kerecis. Q3 2025/26 EBIT margin development before special items (%) Q3 2025/26 highlights 1) Before special items expense of DKK 18 million in Q3 2025/26 and special items of DKK 83 million in Q3 2024/25. 27.8%Reported EBIT margin excl. Kerecis 0.4% 1.1% ∆ R&D- to-sales ∆ Admin- to-sales ∆ Distribution- to-sales ∆ Gross margin Reported EBIT margin Q3 24/251 EBIT margin Q3 25/261 (Constant Currencies) Currency effect Reported EBIT margin Q3 25/261 ∆ Other operating items 0.0% -0.4% -0.9% -0.4% 27.5% 26.2% 27.3%
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FCF development1 Strong FCF-to-sales ratio at 20% in 9M 2025/26 vs. 16% last year1: positive working capital development and lower net financial items 13 • Adjusted FCF in 9M 2025/26 was DKK 4,232 million, or a 27% increase, while Adjusted FCF-to-sales ratio was 20%, compared to 16% last year: (excluding acquisition costs this year and benefit from the divestment last year) • Favorable development in working capital, especially trade receivables. • NWC-to-sales was 26%, on par with FY 2024/25. NWC-to-sales ratio expected to be around 25% in FY 2025/26 and improve to around 24% in the Impact4 strategic period. • Positive impact from lower net financial items. • Partly offset by higher income tax paid and higher CAPEX. • CAPEX-to-sales ratio was 5%, on par with last year, and includes investments in the new manufacturing site in Portugal, on track to be operational in Q4 2025/26. 9M 2025/26 highlights 1) FCF adjustments: FY 2025/26 adjusted for acquisition costs related to Uromedica. FY 2024/25 adjusted for the Skin Care divestment. FY 2023/24 adjusted for the extraordinary tax payment related to the transfer of Atos Medical’s Intellectual Property (net impact of DKK 2.5 billion). FY 2022/23 adjusted for acquisitions, Mesh payments, and payment related to the formal resolution of the US Veteran Affairs matter; FY 2021/22 and FY 2020/21 adjusted for acquisitions and Mesh payments 2) Cash Conversion calculated as FCF ex. Mesh payments, interest payments, tax payments, M&A and marketable securities relative to EBIT before special items. Cash Conversion is trailing twelve months 3) FY 2024/25 adjusted for divestment of DKK 192 million 4) FY 2023/24 adjusted for the extraordinary tax payment of DKK 2.5 billion 24/2523/2422/2321/2220/21 25/26 YTD 828184 77 93 1915151823 20 91 5,202 3,9303,7494,016 4,547 4,232 FCF (DKKm)1Cash Conversion2FCF-to-Sales (%)1
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FY 2025/26 guidance unchanged: organic revenue growth of 5-6% and EBIT1 growth in constant currencies of around 5% 14 GUIDANCE 2025/26 GUIDANCE (DKK)2 5-6% Around 3% Around 5% Around 5% Around 22% KEY ASSUMPTIONS • Chronic Care: continued good momentum ex. China. China sales expected to decline high single-digit including impact from the planned inventory reduction in H2 • Wound & Tissue Repair: Kerecis – organic growth expected to be around 0%, due to the Medicare reimbursement change in the outpatient setting. Advanced Wound Dressings – negative impact from the product return in China in Q1-Q3 and softer momentum in Europe. • Interventional Urology: growth expected to be high single-digit. • Reported growth in DKK expected to be around 3% with around 2-3%-points negative impact from currencies. The skin care divestment and the Uromedica acquisition are combined expected to have a broadly neutral impact on the reported revenue growth. • Continued ramp-up in Costa Rica and Portugal. • New Impact4 investments, including global technology investments, investments toward the new bowel care opportunity in the US, and investments related to Intibia. • Kerecis EBIT margin of around 0%. • Immaterial impact from tariffs, as we expect our products to remain exempted. • Special items are expected to be around DKK 3.1 billion and includes DKK 3 billion Kerecis impairment loss and around DKK 0.1 billion in acquisition related costs, including integration costs. • Coloplast is closely monitoring developments in the Middle East and their impact on the business, including implications for demand, supply and cost inflation • Investments to complete the new manufacturing site in Portugal, expected to be operational in Q4 25/26. • Investments in new machines for existing and new products. • IT and sustainability investments. 1) In constant currencies, before special items 2) DKK guidance is based on spot rates as of 14 August 2026 3) After tax, before special items TAX RATE CAPEX-TO- SALES EBIT GROWTH1 SALES GROWTH • Coloplast’s tax rate during the Impact4 strategic period is expected to be around 22%, benefiting from the recent IP transfers (Atos Medical and Kerecis). ROIC3 Around 15% • Expected to be on par with last year’s adjusted ROIC.
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Introduction to Coloplast Leading intimate healthcare Carina | User, Bowel Care
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1 6 Our mission: Making life easier for people with intimate healthcare needs A nearly 70-years old legacy, rooted in: • Delivering high quality products and services • Continuously innovating with customers in mind • A purpose-driven organisation Pete | User, Continence Care
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Business model centred around customers, with innovative products and a strong service offering at the core 17 Ostomy Care Ostomy bags and supporting products Continence Care Intermittent catheters, bowel care (transanal irrigation) and collecting devices Wound and Tissue Repair Wound dressings and skin substitutes Voice and Respiratory Care Voice prostheses, HMEs, tubes, adhesives Interventional Urology Implants, slings, surgical tools Key services and Direct businesses Chronic Care (~75% of revenues) Acute Care (~25% of revenues) For detailed information on the business areas and market descriptions, see pages 83-90
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Coloplast has five business areas all with global sales presence 18 Ostomy Care 36% Continence Care 32% Interventional Urology 10% Wound & Tissue Repair 14% Voice & Respiratory Care 8% Group revenue 2024/25 by geographyGroup revenue 2024/25 by segment DKK 27.9bn = Coloplast’s global market positionX 1 1 4 4/5 European markets 56% Other developed markets 28% Emerging markets 16% DKK 27.9bn 1
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The market we compete in is characterised by stable fundamentals and structural growth 19 01. Demographics Growing elderly population increases customer base for Coloplast products 01. Healthcare reforms Economic restraints drive reimbursement reforms, introduction of tenders, and lower treatment cost 02. Emerging markets Expanding healthcare coverage for populations in emerging markets increases addressable market 02. Surgical and medical trends Earlier detection and cure, eventually reduces addressable market for Coloplast treatment products Drivers Limiters Coloplast addressable market growth is 4-5% Dorote | User, Continence Care
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Stable underlying market drivers expected to continue in the next strategic period, with changes to pricing impact and China outlook 20 Volume Price Mix + Demographics + Improving healthcare standards in EMs + Improving treatment compliance ÷ Surgical/medical trends ÷ Slowdown in China ÷ Healthcare reforms ÷ Competition + Innovation + Access to healthcare Source: Coloplast estimates Market share gains Neutral pricing impact over the period Ongoing value upgrade Net effect 4-5% value growth 7-8% (5-year CAGR) value growth Market drivers Coloplast dynamics
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Coloplast has strong market positions in Chronic Care and great commercial potential in Acute Care 21 Addressable market Size in DKK Growth in % Coloplast regional market shares Key competitors Key drivers and limiters Coloplast global market share Europe Other developed Emerging X Global market position Ostomy Care 24-25bn ~4% 40 - 50% 15 - 25% 45 - 55% 35 - 40% • Ageing population • Increasing access to healthcare • Healthcare reforms • Re-use of products outside Europe 1 Continence Care Interventional Urology Wound & Tissue Repair 19-20bn 5-6% 20-22bn 3-5% 48-52bn 2-4% 6-8% Voice & Respiratory Care (Laryngectomy) 1.5-2bn 8-10% 45 - 55% 25 - 35% 40 - 50% 15 - 20% 15 - 20% 5 - 10% 5 - 10% 0 - 5% 5 - 10% 40 - 45% ~15% • Ageing population • IC penetration potential • Up-selling • Healthcare reforms • Commoditization • Ageing, obesity • Under penetration • Cost consciousness • Clinical requirements • Less invasive/office procedures • Ageing, obesity, diabetes • New technologies • Healthcare reforms • Competition • Community treatment 80 - 90% 80 - 90% 95 - 100% • Penetrate “white-space” • Reimbursement in new geographies • Compliance with usage recommendations • New portfolio Provox® Life ~85% Dressings Biologics 5 - 10% Adv. dressings 5 - 10% Biologics 1 1 4 4/5 4 5
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A strong track record of delivering attractive financial performance and value creation rooted in mission and robust business model 22 13% 15% 6% Growth in abs. EBIT*, % EBIT margin*, % Organic growth, % Reported revenue, bnDKK * Reported EBIT margin and Reported EBIT growth, before special items Investments in building global standards of care Investments in Direct-to-Consumer and margin transformation Investments in innovation and new growth opportunities 98/99 07/08 24/25 7% A foundation built on innovation, featuring differentiated technologies backed by clinical evidence and strong relationships with healthcare professionals and customers – delivering industry-leading services and integrated solutions 28% 20/21
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We believe Coloplast can continue to deliver stable shareholder returns through ... 23 • Innovation and M&A executed in Strive25, combined with actions to address current performance, provide a solid foundation for the new strategic period • New Business Unit structure and new ELT to enable successful execution of the new strategy • Utilise strength of existing offering of products and services in Impact4, while setting an ambition for a step change in customer-centricity and innovation during the period • Solidify market leading positions in Chronic Care with continued rollout of Luja , continued expansion of SenSura® Mio and accelerating reach of Provox® Life • Create an innovation leader with Wound & Tissue Repair and aim for a larger share in the segment • Improve performance in Interventional Urology by building on strength in Men’s Health and transforming Women’s Health with the Intibia launch • Step up in technology investments to deliver enhanced user experience and efficiency across the group 1) FCF adjusted for Mesh payments and acquisitions/divestments. In addition, FY 2023/24 is adjusted for the extraordinary tax payment related to the transfer of Atos Medical’s Intellectual Property paid in Q2 (net impact of DKK 2.5 billion in FY 2023/24), and FY 2022/23 is adjusted for the payment related to the formal resolution of the US Veteran Affairs matter. 2) Before special items. Special items expenses of DKK 74 million in FY 2022/23, special items income of DKK 34 million in FY 2023/24, special items expenses of DKK 469 million in FY 2024/25, and special items expenses of DKK 3,078 million in 9M 2025/26. 3) Adjusted for impact from the Kerecis IP transfer in YTD 2024/25 Value creation leversOrganic growth and EBIT margin FCF and ROIC 24/2523/2421/2219/2017/1815/1613/1411/1209/10 25/26 YTD 6% 26% EBIT Margin²Organic growth 24/2523/2421/2219/2017/1813/1411/1209/10 25/26 YTD 20% 15% ROIC after tax2,3FCF to sales1
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Introduction to Impact4 Setting the standard of care at scale Carina | User, Bowel Care
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Organic revenue growth of 7-8% (5-year CAGR) 1 EBIT growth1 in line with or above revenue growth over the period 2 Return on Invested Capital of more than 20% in FY 2029/302 3 2030 Financial ambition: Value creation during Impact4 will be measured through revenue and EBIT growth, as well as ROIC improvement 25 1. In constant currencies. Before special items. 2. A linear improvement expected over the period.
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Impact4 focuses on 4 strategic priorities that are essential for our success and value creation ambition 26 1 2 3 4 Set the standard of care and drive strong customer centricity, win customers over with innovative products and services backed by evidence. Increase efficiency and reduce complexity to drive value by getting more out of what we have and investing in new capabilities and ways of working. Technology including AI will be a key enabler for delivering a next-level user experience and for driving scale, through a significant investment in a foundation of new technology programs. Build a winning company by fostering a culture of customer-centricity and high performance, while building a strong pipeline of leaders. Sustainability remains a strategic priority. Grow through innovative customer offerings Embrace technology to elevate user experience and scale Cultivate a winning and sustainable company Unlock next level efficiency gains
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Grow through innovative customer offerings Solidify our market leading position by providing: • Superior product offerings with SenSura® Mio, Luja and Provox® Life • Next level of services for user and HCPs Create an innovation leader with the combination of AWD and Kerecis into ‘Wound and Tissue Repair’ Build on our strength in Men’s Health and transform Women’s Health with a successful launch of Intibia 27 Step up innovation in products and services to become the most customer-centric company in our categories Acute Care: Chronic Care:
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Unlock next level efficiency gains Finalise integrations of Atos Medical and Kerecis and drive synergies Drive efficiency in Global Operations to offset external headwinds and deliver gross margin accretion Reduce complexity through portfolio simplification 28 A paradigm shift in ways of working to enhance scalability and efficiency across the company Drive scalability with Coloplast Business Support Centre in Poland and establish new Centre in Costa Rica to support growth and scale in the US
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Embrace technology to elevate user experience and scale Dedicated 5-year technology programs to support performance across the business 29 Utilise technology including AI to enhance customer experience Step up technology investments to enable a best-in-class customer experience at scale Utilise technology including AI to drive efficiency improvements across the business
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Cultivate a winning and sustainable company Sustainability remains an important strategic area with focus on emissions, materials, reimbursement improvement and people Develop leadership for the future by strengthening our executive succession pipeline Introduction of a new Coloplast leadership program, nurturing a high-performing and customer-centric culture in a large company 30 Enable strategy execution by shifting our company towards a faster and even more customer-centric organisation
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31 Illustrative growth contribution during Impact4 Absolute revenue growth contribution until FY 2029/30 in bnDKK OC24/25 IU 29/30WTRCC VRC All segments are expected to contribute to growth in the Impact4 period, with Chronic Care as the largest contributor Chronic Care Acute Care Chronic Care: • Growth above the market in Ostomy and Continence Care over the period, with solid contribution across regions ex. China • Voice and Respiratory Care growth to continue in the 8-10% growth range • Innovation a bigger contributor during Impact4 Acute Care: • Around double-digit growth for Wound and Tissue Repair over the period, driven by Kerecis • Mid-single to high-single digit growth in Interventional Urology, pick up in the latter part of Impact4 driven by Men’s Health and Intibia launch 7-8% organic revenue growth (5-year CAGR until FY 2029/30)
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32 We pursue dynamic resource-allocation to fuel high-potential areas by moving resources away from low-performance segments Technology and AI investments to support company-wide efficiency enhancement: Fuelling investments during Impact4 through dynamic resource allocation: From low-profitability and low- performance segments: To high-potential and high- impact areas: Skin Care divestment China organisational restructuring Interventional Urology cost optimisation Focused innovation efforts on high-impact projects Ongoing evaluation of further opportunities for resource reallocation US Chronic Care Kerecis Intibia commercialisation R&D and innovation New business support centre for the US in Costa Rica Technology programs including AI Advance user experience Enhance and scale one enterprise foundation Enable Global Operations transformation
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33 A leveraged P&L for the company with contribution across segments during Impact4, resulting in attractive growth in abs. EBIT 33 24/25 Illustrative development in absolute EBIT during Impact4 Absolute EBIT contribution until FY 2029/30 in bnDKK Gross margin Leverage effect/scale Kerecis EBIT growth1 in line with or above revenue growth over the period Gross margin: • Gross margin accretion from Kerecis and Atos Medical and efficiency initiatives in Global Operations • Inflation on raw materials expected to be stable • Negative impact from continued wage increases in Hungary and diversified manufacturing footprint, however, ramp up cost decreasing over the period EBIT development: • Leverage effect in Chronic Care • Improvement in profitability in Wound & Tissue Repair and Interventional Urology • Investments (incl. R&D, innovation and technology) to drive growth, using dynamic recourse allocationInvestments 29/30 Projected 1. In constant currencies. Before special items.
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The new Global Operations plan will support our financial ambition and enable savings to offset cost headwinds in the strategy period 34 Production volumes today and towards 2030*: *Excluding specialised production Hungary: 70-75% → 60-65% Costa Rica: 15-20% → 20-25% China: ~10% → 5-10% Portugal: 5-10% We will have sufficient capacity to meet demand and support growth until at least 2030; no factories expected after PortugalNew digital wave Address direct spend Throughput increase Highlights: • More output from production machines • Better utilisation of our assets • Cost savings • Capex reduction • Increased output • Increased investments in technology and digital solutions • Simplification and standardisation as a foundation • Cost savings • Increase efficiency across the value chain • Improve productivity • Largest cost category in GO • Opportunities from complexity reduction • Cost savings • Offsetting headwinds from inflation Key initiatives in GOP7 Expected impact:
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35 Strong focus on improving both FCF-to-sales and ROIC during the Impact4 period Strong focus on improving FCF and ROIC in the Impact4 period: o EBIT growth1 in line with or above revenue growth over the period o Improvement in NWC to around 24% o Decrease in capex-to-sales to around 4% towards the end of Impact4 o Tax rate expected around 22% during the period o No significant M&A deals expected, M&A strategy focused on bolt-on acquisitions 24/2523/2422/2321/2220/21 82818477 93 1915151823 5,202 3,9303,7494,0164,547 FCF (DKKm)Cash ConversionFCF-to-Sales (%) Adj. Free Cash Flow, mDKK Ambition: FCF-to-Sales Above 20% 24/2523/2422/2321/2220/21 45 151517 27 ROIC after tax and before special items Ambition: ROIC Above 20% in 29/30 Adj. Return on Invested Capital, % 1. In constant currencies. Before special items.
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We will continue to provide attractive cash returns through stable dividend payout 36 1) Dividends paid out in the year are the actual cash payments of which the majority relates to dividend proposed in the previous financial year. 2) Pay-out ratio is before special items and calculated as dividend proposed in the financial year/net profit for the financial year. After special items, the pay-out ratio for 24/25 was 143% Coloplast cash distribution to investors 500 500 500 500 500 500 16/17 17/18 18/19 24/2523/2422/2321/2220/2119/20 Long- term 60 80 9996 8481 91868884 60 80 130130130 4.720 4.2474.5414.3304.1123.8983.788 3.364 4.958 Pay-out ratio (%)2Share buy-backDividends paid out in the year (DKKm)1 Capital allocation considerations • Dividend payout: continue to return excess cash to shareholders through dividends and share buy-backs, with a long-term pay-out ratio at 60-80% of net profit. • Dividend is paid twice a year - after the half-year and full- year financial reporting. • Total dividend of DKK 23.00 per share for 2024/25 compared to DKK 22.00 per share for 2023/24. • Coloplast will pay a half year interim dividend of DKK 5.00 per share. • Share buy-back programme serves to hedge employee share options. Expected to resume during Impact4. • Coloplast will not initiate a share buy-back program in FY 2025/26 as treasury shares are sufficient to hedge outstanding employee share options. • Leverage ratio: commitment to bring the NIBD/EBITDA ratio down to around 1.5x towards 2029/30.
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We will continue to focus on key sustainability and social metrics 37 Scope 1+2 • 90% emission reduction by 2029/30 Scope 3 • 10% emission reduction per product by 2029/30* Users and Healthcare professionals • Reimbursement improvements in around 5 markets Employees • Safety: LTIs of 1.5 PPM or below • Employee Engagement score in the top quartile of our industry • Diversity in leadership of 40% • Code of conduct: 100% completion • 15-20% reduction in products and packaging by 2029/30 Materials Reduce our environmental impact: Benefit society and our employees: Positively impact people Emissions reduction Use less materials *Adjusted from previously 50% reduction per product by 2030 • Net zero by 2045
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Our environment continues to be complex; internal and external risks are monitored closely 38 Coloplast employees Internal factors External factors Stable quality, supply and distribution of products Contribution from launches Execution excellence Direct businesses increase operational complexity Geopolitical impact on supply chains, tariffs and data handling Changes in competitive environment Reimbursement reforms and price pressure Increased regulation & compliance requirements
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39 The Coloplast Executive Leadership Team Gavin Wood President and CEO Joined Coloplast May 1, 2026 Anders Lonning-Skovgaard EVP, CFO With Coloplast since 2006 Amanda Rajkumar Chief People Officer Will join Coloplast Sep. 1, 2026 Allan Rasmussen EVP, Operations With Coloplast since 1992 Rasmus Just EVP, Chronic Care R&D With Coloplast since 2025 Caroline Vagner Rosenstand EVP, Chronic Care Commercial With Coloplast since 2015 Kevin Hardage EVP, Interventional Urology Joined Coloplast Feb. 9, 2026 Acute CareChronic Care WTR organisation reporting to CEO on an interim basis EVP, Wound & Tissue Repair
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Dorte | User, Continence Care With Impact4, we put customers at the centre, aiming to help 4 million people long-term
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Chronic Care Leading intimate healthcare Pete | User, Continence Care
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Chronic Care: Five strong business areas with market leading positions 42 Share of group revenue* Market position Ostomy Care Continence Care Bowel Care Laryngectomy Care Tracheostomy Care ~36% ~29% ~3% ~6% ~2% #1 #1 #1 #1 #4 Includes Intermittent Catheters and Collecting Devices *Share of Coloplast revenue based on FY 24/25
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Introducing Chronic Care – our new Business Unit that plays to our strengths across the chronic space 43 Characteristics of the chronic business areas Stable flow of loyal users with similar pathways and lifecycle Solid reimbursement levels, with risk of reforms Services and support are increasingly important Similar macro-trends impacting the business Giorgio | User, Laryngectomy Strong commercial model in place Market leaders in a stable competitive environment
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44 Succeeding in our chronic categories requires a maturity-based approach tailored to each business area and region Based on BA and regional maturity we will expand through… Adherence Penetration Establishing reimbursement Example: • Bowel Care in the US 1 Adherence Penetration Penetrating and expanding the market Example: • Intermittent Catheters use for Multiple Sclerosis patients 2 Adherence Penetration Driving adherence to treatment Example: • Laryngectomy in the US • Tracheostomy in UK 3 Adherence Penetration Expand and upgrade through innovation Example: • Ostomy Care in Europe 4
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Business areas strategic priorities and ambitions within Impact4 45 Strategic priorities 2030 impact Organic revenue growth above the market across business areas over the period • Ostomy Care: Solidify market leading position with SenSura Mio • Intermittent Catheters: Make Luja the new standard of care • Bowel Care: Develop the market and double our reach • Laryngectomy Care: Utilise strong foundation to accelerate reach • Tracheostomy Care: Set the standard and transform care • Services: Provide the best customer experience and be the partner of choice Chronic Care • Innovate with impact: Envision life after surgery, inspired by how it was before Enablers
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46 Our ambition: Solidifying our market leading position by providing the best customer experience and being the partner of choice for our users, HCPs and payors Meeting needs, changing lives by: Bjarne | User, Ostomy Care Offering superior products with innovation leadership backed by clinical evidence Providing industry-leading services and integrated solutions giving our customers the best experience and help ease their burden Leveraging our strong commercial model – winning and retaining users and driving treatment adherence
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To unlock growth, we want to utilise our strong service platform to elevate the customer experience across all touchpoints 47 Strong platform in place and strategic rationale +30 countries with patient support programs +15 countries with direct delivery To support clinicians Online channel ~ 65% MS~25% MS ~15% MS 5-10% MS ~30% MS Direct presence (non-exhaustive) We will continue to develop and deepen relationships through customer centricity to be the partner of choice Healthcare professionals: We support and ease clinical burden by offering tailored education, pragmatic tools, and seamless discharge processes, so clinicians can focus on care. Payers: We aim to prove the value of our services through clinical evidence and outcomes; transforming how care is delivered and reimbursed. Patient: We support patients beyond products; through education, community, issue resolution, prescription management and access to newest technologies to help them live the life they want. • High level of service • Ensure successful experience for users • Target the full value pool • Direct access to consumers • Direct relationship with payers • Protect patient pathway • Improve patient outcomes • Introduce innovative products • Control and continuity of product supply Multiple clinical studies to justify reimbursement ~85% MS
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Luja , our new catheter platform with Micro-hole Zone Technology addresses key UTI risk factors 48 UTI risk factors4 addressed by Luja UTI risk factor: Non-hygienic technique UTI risk factor: Urethral trauma UTI risk factor: Residual urine UTI risk factor: Bladder micro trauma Continence Care – preventing UTIs remains one of the biggest unmet needs 45 % of users describe UTIs as their greatest challenge in life1 of users are worried whether they have emptied their bladder2 Luja – a new intermittent catheter with a Micro-hole Zone Technology, addressing key UTI risk factors • Launch of Luja for men and women concluded, both products available in 13 countries • Launch supported by compelling clinical evidence3 (2.7 UTIs per user on average every year)1 47 % 1) Coloplast IC user survey, January 2016 (n=2,942), (Data-on-file) VV-0122794. 2) Islamoska et al. Nov 2022. Patient-reported risk factors for urinary tract infections are associated with lower quality of life among users of clean intermittent catheterisation. Poster at BAUN (Coloplast user survey 2022 (n=3464). 3) Relevant clinical data on Luja is available here: Luja clinical studies 4) Kennelly et al 2019: Adult Neurogenic Lower Urinary Tract Dysfunction and Intermittent Catheterisation in a Community Setting: Risk Factors Model for Urinary Tract Infections.
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In US Ostomy Care, product launches and stronger focus on execution position us well for continued share gains 49 Bags and plates acute share Total ostomy care market share Q1 24/25 Q4 2021 +6%-pts FY 24/25FY 21/22 ~15% 15-20% Continue to increase market share across channels through: Innovation Expand penetration with new SenSura® Mio 2-piece click coupling in existing accounts and convert new opportunities Win customers in the community with SenSura Mio in black Commercial execution Strengthen commercial execution to win access in acute and post-acute accounts Medline partnership Continued share gains in the acute channel Based on Coloplast estimates US pathway Acute (3-5 days) Community ~10 years Post-acute incl. HHA +60 days
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Coloplast has been awarded access to key GPOs, ensuring a level playing field in ~75% of acute accounts in US Ostomy Care Acute members1 Estimated Acute share2 Contract expiry date Contract length Contract Type 3,600 ~25% 31 March 20293 3 years (incl. 3-year extension) Multisource Coloplast, Hollister, Convatec 7,500 ~50% 30 June 20283 3 years (incl. 2-year extension) Multisource Coloplast, Hollister, Convatec 1,400 ~15% 30 September 2026 3 years Single source Hollister Coloplast has been awarded access to Vizient and Premier, the two largest GPOs in the US 50 TM* TM* Source: Coloplast, GHX 1) Acute members can be part of more than one GPO 2) Coloplast estimates based on primary GPO affiliation 3) Expiry dates reflects recent contract extensions * Third party trademarks are the property of their respective owner(s)
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In US Continence Care, we drive the upgrade of the market to hydrophilic catheters and aim to set a new standard of care with Luja 51 US IC reimbursement categories now includes new dedicated codes for hydrophilic catheters, implemented 1 January 2026 We are driving the upgrade to hydrophilic-coated catheters in the US Hydrophilic catheters as % of Coloplast US intermittent catheters sales On 16 August 2024, CMS issued a final coding decision*, revising the existing codes and introducing three new codes dedicated to hydrophilic intermittent catheters as of 1 January 2026. Straight catheter A4351- Uncoated A4295- Hydrophilic Highest volume Coloplast latest offering: SpeediCath Soft Bended tip (male only) A4352- Uncoated A4296- Hydrophilic Highest CAGR Coloplast latest offering: Luja Coude Sets (users w. +2 UTIs/year) A4353- Uncoated A4297- Hydrophilic Highest value/user Coloplast latest offering: SpeediCath Flex Set *Centers for Medicare & Medicaid Services’ (CMS’) Healthcare Common Procedure Coding System (HCPCS) Level II Final Coding, Benefit Category and Payment Determinations 24/2514/15 >2x ~36% ~76% IC code reform to shift market further towards hydrophilic catheters Large educational undertaking to inform and train all prescribing HCPs and DMEs From 2026, IC codes are split into HCIC and non-HCIC at the same Medicare reimbursement rate DMEs will renegotiate funding rates for HCIC with commercial payers Illustrative New codes
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Acute Care Leading intimate healthcare Siegrid | User, Advanced Wound Dressings
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The Acute Care business unit consists of two key business areas 53 Share of group revenue* Market Position Interventional Urology Wound & Tissue Repair #2 #4 Product areas Men’s Health Women’s Health Kidney and bladder health Advanced Wound Dressings Biologics *Share of Coloplast revenue based on FY 24/25 #2 #4 #5 ~10% ~14%
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Introducing Acute Care 54 Characteristics of the acute business areas Mostly about winning in hospitals and surgery centers Innovative product pipeline expands share & adoption Limited recurring revenue, new patient flow essential Exploring adjacencies to compete long term Innovation, evidence and reimbursement commands premium Physicians and surgeons are the key customer Tony User, Interventional Urology
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Business areas strategic priorities and ambitions within Impact4 55 Strategic priorities Interventional Urology Wound & Tissue Repair 2030 impact Around double-digit organic revenue growth over the period Mid single- to High single-digit organic revenue growth over the period • Build our US market share for the combined business • Continue innovating in existing indications and explore new indications • Expand globally leveraging combined infrastructure • Invest in combination products, digital growth and AI • Develop the market, innovate and expand in Men’s Health • Transform Women’s Health with OAB entry • Improve profitability in Kidney and Bladder Health
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10% of Coloplast sales ~3bnDKK annual sales Revenue by business area mDKK, FY 24/25 Revenue by region mDKK, FY 24/25 Interventional Urology is organised into three business areas, helping patients with urological conditions Page 56 Interventional Urology at a glance mDKK, FY 24/25 Interventional Urology Rest of Coloplast Emerging markets Europe Other developedKBHMH WH Erectile dysfunction Stress urinary incontinence Pelvic organ prolapse Kidney stone disease Bladder drainage Voiding dysfunctions Prostate disorders Men’s Health Treatment of: Solutions: Portfolio of products for male reconstructive surgery, including flagship Titan penile prosthesis Women’s Health Kidney & Bladder Health Treatment of: Solutions: Treatment of: Solutions: Portfolio of slings, meshes, and surgical tools to facilitate implant procedures Flagship brands that provide capital equipment and a comprehensive portfolio of single- use devices Interventional Urology
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The market remains highly attractive and poised for long-term growth 57 • High number of patients with unmet needs • Continued favorable reimbursement trends in the US • Significant space for innovation • Attractive assets in adjacent segments • Focus areas (MH and WH incl. OAB) growing faster than average market growth Market dynamics:Addressable market1: Current addressable market Future addressable market (incl. OAB) ~15% ~70% ~15% K+BHWHMH 20-22bn 3-5% growth 28bn+ 6-7% growth Strategic opportunities: Prostate Cancer Benign Prostatic Hyperplasia ~10% ~40% ~50% Male Stress Urinary Incontinence Interventional Urology 1) Based on FY 2024/25 market data. Source: Coloplast estimations
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With Intibia*, Coloplast obtained an option to enter the attractive OAB market worth around 1bn USD. 58 ✓ Reduce the need for patient compliance in therapy ✓ Long battery life ✓ Focused stimulation at the nerve Less invasive procedure than SNS ITNS complete in single procedure Procedure under local anesthesia Less time-intensive Intibia may reduce the need for frequent office visits Established data on tibial nerve stimulation efficacy PTNS established clinical efficacy Urologist familiar with PTNS story +80m people globally suffer from OAB symptoms ~40% of the OAB patient population seek treatment ~3m are candidates for 3rd line therapies1) Overactive bladder (OAB) market 1bn USD 3rd line therapies market, growing high-single digits Why Implantable Tibial Nerve Stimulation (ITNS)? Why Coloplast’s ITNS solution? 1) Existing 3rd line therapies for OAB include sacral neuromodulation, botox and percutaneous tibial nerve stimulation (PTNS) Acquisition Nine Continents Medical Inc in 2020 With the acquisition of Nine Continents Medical Inc, Coloplast obtained an early-stage implantable tibial nerve stimulation treatment for urgency urinary incontinence (UUI). The device is an implantable tibial nerve stimulator (ITNS), a miniaturized, self-powered unit placed in the lower leg under local anesthesia during a short, minimally invasive procedure. Coloplast began pivotal studies in early 2022, with the ambition to obtain pre-market approval for a Class III device in the US and EU market. Anticipated launch of Intibia, pending FDA approval. Transaction The acquisition price consisted of a USD 145 million upfront cash payment and an additional contingent future milestone payment. The transaction was debt financed. Interventional Urology *Investigational device currently under development. Not cleared or approved for sale in U.S. or any market
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Kerecis strong US footprint in combination with AWD global infrastructure forms Wound & Tissue Repair growth foundation • North America and European markets are largest revenue hubs post-combination • Large portion of Kerecis growth projected to occur in the US3, pointing towards North America accounting for ~60% of combined revenues towards the end of the Impact4 period Advanced Wound Dressings revenue split by region1,2 1) Incl. the non-divested part of Skin Care (Skin fold management) 2) Other developed markets includes the US, Canada and Australia 3) Growth rates for both Kerecis and AWD based on Impact4 estimations 4) excl. contract manufacturing 5) including Alginates and Antimicrobials Combined Wound & Tissue Repair revenue split by region4 Kerecis revenue split by region 59 ~0% ~100% ~35% ~50% ~15%~20% ~25% ~55% Emerging MarketsOther Developed MarketsEurope Wound & Tissue Repair Wound & Tissue Repair revenue split by product segments4, FY 24/25 Biologics Foams and Fibers Comfeel WC other Based on FY 24/25 Kerecis revenue split, FY 24/25 ~70% ~10% ~20% Out-patient Medicare Out-patient Commercial Plans In-patient ~10% ~30% ~60% Surgical Chronic Burn By wound type:By care setting:
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A strong product portfolio and even stronger pipeline will enable WTR to become a bigger player in the attractive Wound Care market 60 An attractive and growing market1… Market size in bnDKK External Devices (NPWT) growing low-single digit Biologics growing 6-8% Advanced Dressings growing 2-4% Market share 5-10% 16-18 32-34 12-14 60-66 bnDKK growing mid- single digit Market share 5-10% 1) Based on FY 2024/25 market data. Source: Coloplast estimations …being addressed with innovative technologies… Biologics Foam, Gelling Fibers and Antimicrobials MariGen® Shield® GraftGuide® SurgiClose® SurgiBind® Biatain® Silicone Ag Biatain® Fiber Ag Biatain® Ag Biatain® Non-Adhesive Ag Product Expansions across categories Enter new indications and adjacent segments (e.g. Tendon Protection, Devices) Combination products (e.g. SurgiClose Silicone) Product development and strategic opportunities …and a strong pipeline Launch next generation Kerecis fish-skin technology AI & App Development Wound & Tissue Repair Biatain® Silicone Biatain® Fiber Biatain® Adhesive Biatain® Non-Adhesive Biatain® Superabsorber
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Fish skin – biological advantage resulting in a clinically differentiated and unique technology for healing of severe wounds 61 • High resemblance to human skin: three-dimensional structure, thickness, mechanical properties, porosity and cell size • Biological advantage: No viral transmission risk from cold water fish to humans allows for gentle processing • Gentle processing: maintains the fish skin's 3D structure, mechanical properties, chemical complexity, and molecular content (proteins, elastins, glycans, and lipids) • Scalable, low-risk production: sourcing, scale removal, drying, packaging, sterilization and logistics • Clinical use: debride, apply, cover, offload, repeat if needed Fish Skin Human Skin*for Epidermis Dermis *Copyright Steve Gschmeissner/Science Photo Library 100 µm 100 µm Advantages of the fish-skin technology: Kerecis fish skin – gently processed, preserving natural structure… …and backed by compelling clinical evidence: • Kerecis healed 66% more deep DFUs relative to SOC by week 16, P<0.001 (Odinn study, 2024. N=255) • By 12 weeks, 56.9% of superficial DFUs in the IFSG group had healed, while only 31.4% of superficial DFUs in the control group had healed, P =.0163 (LEG study, published 2023. N=102) Key findings from recent studies: Wound & Tissue Repair
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Financials Christopher | User, Ostomy Care Financials Leading intimate healthcare
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9M organic growth of 6% driven by Chronic Care and Interventional Urology 63 Continence Care Voice & Respiratory Care Wound & Tissue Repair Ostomy Care1 Coloplast Group Reported revenue mDKK Organic growth 21,482 9M 2025/26 revenue by business area 9M 2025/26 revenue by geography Share of organic growth Business area European markets Reported revenue mDKK Organic growth 21,482 Share of organic growth Geographic area Other developed markets Emerging markets Coloplast Group Interventional Urology 7,599 6,989 1,788 5% 7% 7% 2% 8% 6% 31% 41% 10% 5% 14% 100% 6% 7% 3% 6% 55% 36% 8% 100% 12,119 5,868 3,495 2,212 2,894 1) Ostomy Care ex. China continued the strong performance with 6% organic growth
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Reported revenue in 9M grew 3%, with 6% organic growth and 3%-points negative impact from currencies 64 • Reported revenue increased by DKK 568 million or 3% vs. last year. • Organic growth was 6% or DKK 1,207 million, driven by: • Strong, broad-based growth in Ostomy Care ex. China. • Strong growth in Continence Care, driven by with Luja. • Solid growth in Voice & Respiratory Care, driven by Laryngectomy • Wound & Tissue Repair impacted by US biologics reimbursement reform and China product return • Strong growth in Interventional Urology, driven by Men’s Health in the US. • Inorganic revenue from the skin care divestment in December 2024 and the Uromedica acquisition in February 2026 had a broadly neutral impact on the reported revenue. • Foreign exchange rates had a negative impact of 3%-points on reported growth, mainly related to depreciation of the USD, GBP and a basket of Emerging markets currencies against the DKK. Growth 9M 2025/26 Revenue development (mDKK) 9M 2025/26 highlights 1,207 Currency effect InorganicOrganic growth (constant currencies) Reported revenue 9M 2024/25 Reported revenue 9M 2025/26 +568 mDKK -44 -595 21,482 20,914 5.8% -0.2% -2.8% 2.7%
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Coloplast revenue development by business area 65 Organic growth (%)Reported growth (%)Revenue (DKKm) Ostomy Care Interventional Urology Voice & Respiratory Care1 Continence Care Wound & Tissue Repair2 Group revenues1,2 1. Atos Medical part of organic growth as of 1 February 2023. 2. Kerecis part of organic growth as of 1 September 2024; Skin Care divested in December 2024 25/26 YTD24/2523/2422/2321/22 565 10 678 7 5 2 8,620 9,024 9,546 9,897 25/26 YTD24/2523/2422/2321/22 0 4 10 16 25109 4 8 2,424 2,674 2,775 2,784 25/26 YTD24/2523/2422/2321/22 574 9 887 6 7 5 7,643 7,958 8,540 8,984 25/26 YTD24/2523/2422/2321/22 -3 40 88 810 7 4 2 -4 2,689 2,905 4,060 3,929 25/26 YTD24/2523/2422/2321/22 33 10 86 67 8 9 16 22,579 24,500 27,030 27,874 21,482 25/26 YTD24/2523/2422/2321/22 8 911 9 10 7 5 1,939 2,110 2,280 7,599 2,212 1,788 6,989 2,894 1,203
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Coloplast revenue development by geography and total 66 Europe Other Developed Markets Emerging Markets Coloplast group Organic growth (%)Reported growth (%)Revenue (DKKm) 25/26 YTD24/2523/2422/2321/22 6 5655 5 56815 12,916 13,908 14,750 15,510 12,119 25/26 YTD24/2523/2422/2321/22 8 896 1 2012 21 -1 7 5,775 6,480 7,746 7,828 25/26 YTD24/2523/2422/2321/22 111514 10 010 6 15 1 3 3,888 4,112 4,534 4,536 25/26 YTD24/2523/2422/2321/22 67 886 33 109 16 22,579 24,500 27,030 27,874 21,482 5,868 3,495
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Gross margin & cost items development 67 R&D Admin Distribution Gross Profit development, % Cost item, % of revenue* Note: PPA amortisation related to the Atos Medical and Kerecis acquisitions included under distribution costs (Atos Medical included as of FY 21/22 and full-year impact as of FY 22/23; Kerecis included as of FY 22/23 and full-year impact as of FY 23/24) 23/2422/2321/22 24/25 25/26 YTD 68.8 66.6 67.6 68.0 30.1 30.7 32.6 32.8 4.5 4.6 4.6 4.6 4.5 23/2422/2321/22 24/25 25/26 YTD 3.8 3.6 3.4 3.4 Note: FY 22/23 Gross Profit negatively impacted by inflationary headwind on input costs (raw materials, energy, wage increases in Hungary). FY 23/24 Gross Profit includes positive impact of around 100bps from Kerecis and favourable development in input costs, partly offset by wage inflation in Hungary, ramp-up costs in Costa Rica and negative currency impact. 66.8 32.9 3.6
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Segment operating profit (Excludes shared/non-allocated costs) 68 Ostomy and Continence Care Segment Operating Profit Margin (%) Segment Operating Profit DKKm Chronic Care Interventional Urology Adv. Wound DressingsVoice & Respiratory Care1,2 1. Segment operating profit for Voice & Respiratory Care and Biologics is excluding PPA amortisation expenditures. 2. FY 21/22 for Voice & Respiratory Care includes eight months of impact. 3. Biologics is Coloplast’s new business area, added with the acquisition of Kerecis. R&D costs for Interventional Urology, Voice and Respiratory Care, and Biologics are included in the segment operating profit/loss for the respective segments, while R&D costs for Chronic Care and Advanced Wound Care are shared between functions and included under shared/non-allocated costs. Financial items and income tax are not allocated to operating segments. Biologics1,3 FY 22/23 includes one month of impact. Q1 25/26 Q4 24/25 Q3 24/25 Q2 25/26 Q3 25/26 59 59 59 59 Q4 24/25 Q3 2/25 Q2 24/25 Q1 25/26 Q2 25/26 Q3 25/26 34 36 37 36 Q1 25/26 Q4 24/25 Q3 24/25 Q2 25/26 Q3 25/26 37 36 34 37 Q1 25/26 Q4 24/25 Q3 24/25 Q2 25/26 Q3 25/26 49 37 39 39 217 240 266 325 Q1 25/26 Q4 24/25 Q3 24/25 Q2 25/26 Q3 25/26 13 14 1 0 -5 FY 23/24 FY 22/23 FY 21/22 FY 24/25 25/26 YTD 59 58 58 59 59 9,809 10,441 11,063 8,547 9,586 FY 23/24 FY 22/23 FY 21/22 FY 24/25 25/26 YTD 35 35 35 35 36 947 976 984 798860 FY 23/24 FY 22/23 FY 21/22 FY 24/25 25/26 YTD 32 34 35 37 666 736 837 383 FY 23/24 FY 22/23 FY 21/22 FY 24/25 25/26 YTD 40 38 38 41 1,069 1,153 1,1051,089 FY 24/25 FY 23/24 FY 22/23 25/26 YTD 12 10 13 101 58 2,781 2,827 2,824 2,814 35 38 241 251 247 262 249 34 214 207 197 219 209 35 625 40 819 -2 9 -13 159 43 313 287 40 47 3 -1 -15 2,909
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EBIT margin of 26%1 in 9M: ~90 basis points negative impact from currencies and ~50 basis points negative impact from Kerecis 69 • Gross margin of 67%, compared to 68% last year. • Negative impact from currencies (~90 basis points) and ramp-up costs in Costa Rica and Portugal. • Positive impact from lower inflation on freight versus last year. • No material impact from the conflict in the Middle East • Operating expenses amounted to DKK 8,761 million, a 3% increase from last year. • Distribution-to-sales ratio was 33%, on par with last year. Distribution costs grew 2% vs. last year, reflecting Kerecis one-off costs in Q1, partly offset by lower sales costs in China and lower logistics costs due to one-off costs in the US last year. • The Admin-to-sales ratio was 4%, on par with last year. • The R&D-to-sales ratio was 4% vs. 3% last year, driven by higher activity levels in Chronic Care and Biologics. • EBIT before special items amounted to DKK 5,599 million, a 2% decrease from last year. The reported EBIT margin before special items was 26%, against 27% last year, reflecting ~90 basis points negative impact from currencies and ~50 basis points negative impact from Kerecis. 9M 2025/26 EBIT margin development before special items (%) 9M 2025/26 highlights 1) Before special items expense of DKK 3,078 million in 9M 2025/26 and special items expense of DKK 241 million in 9M 2024/25. 27.6%Reported EBIT margin excl. Kerecis 0.1% 0.9% EBIT margin 9M 25/261 (Constant Currencies) Currency effect Reported EBIT margin1 9M 25/26 ∆ Other operating items ∆ R&D- to-sales ∆ Admin- to-sales ∆ Distribution- to-sales ∆ Gross margin Reported EBIT margin1 9M 24/25 -1.0% 0.0% -0.3% 0.0% 27.3% 26.1% 27.0%
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9M 2025/26 EBIT margin: Impact from Atos Medical, Kerecis and Uromedica PPA amortisation 70 1) Special items expense of DKK 3,078 million in 9M 2025/26 2) Incl. PPA of DKK 165 million related to the Atos Medical acquisition, DKK 71 million related to the Kerecis acquisition and DKK 6 million related to the Uromedica acquisition 14% 2% 3% EBITA before special items Amortisation2EBIT margin before special items Special items total1EBIT margin after special items EBITDA before special items Depreciation 12% 26% 28% 31% DKK 3,078 million DKK 379 million DKK 678 million
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Key drivers of free cash flow to sales: taxation, working capital, and CAPEX optimisation CAPEX1Taxation 1) Gross CAPEX including investment in intangible assets, ex. acquisitions of associates. • 9M 25/26 effective tax rate of 22%, on par with the ordinary tax rate last year. o The total tax expense last year included an extraordinary expense of DKK 587 million related to the transfer of Kerecis’ Intellectual Property (IP) from Iceland to Denmark, consistent with Coloplast’s principal tax model. • FY 25/26 tax rate expected around 22% • Coloplast’s tax rate during the Impact4 strategic period is expected to be around 22%, benefiting from the recent IP transfers (Atos Medical and Kerecis) Net working capital • 9M 25/26 NWC-to-sales of 26%, against 26% on 30 September 2025. • FY 25/26 NWC-to-sales expected around 25% • Working capital-to-sales ratio expected to improve to around 24% in the Impact4 strategic period, impacted by: o Growth in mature markets o Growth in Emerging markets, which have long credit times o Increasing inventory levels on strategic raw materials and products • 9M 25/26 CAPEX-to-sales ratio of 5%, on par with last year, includes investments in new manufacturing site in Portugal and innovation capex, both comprised ~1% of revenue. • FY 25/26 CAPEX-to-sales ratio expected to be around 5%. Includes continued investments in the new manufacturing site in Portugal of 30,000 m2, expected to be operational in Q4 2025/26. • Capex-to-sales ratio in the Impact4 strategic period is expected to be 4-5%, with a reduction to around 4% towards the end of the period. • 9M 25/26 depreciation and amortisation includes PPA amortisation of DKK 242 million (Atos Medical, Kerecis and Uromedica) 71 FY 24/25 effective tax rate affected by Kerecis IP transfer 23/2422/2321/22 24/25 25/26 YTD Impact4 19% 22% 21% 21% 41% 22% ~22%23% Ordinary tax rate Extraordinary tax rate 23/2421/22 22/23 24/25 25/26 YTD Impact4 ~24%26%26%25%26%25% Net working capital, % of revenue Impact425/26 YTD 24/2523/2422/2321/22 5%5%5%5% 5%5%4%4% 4% 5% 5%5% 1,135 1,1591,4271,3461,241 CAPEX, % of revenue Depreciation and amortisation, % of revenue CAPEX DKKm
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Exchange rate exposure FY 2025/26 and hedging policy 72 12 months exposure from 10% initial exchange rate drop1)Revenue FX exposure 2025/261) To achieve the objective of a stable income statement we hedge: • Key currencies e.g., USD, GBP, HUF using forward contracts and options. Not EUR • On average 10-12 months • Selected balance sheet items in foreign currency and part of the expected rolling 12-month cash flows • Taking risk. vs. cost of hedging into consideration Hedging Policy USD HUF GBP 160 -240 -290 -400 -740 EBIT (DKKm)Revenue (DKKm) Currency Average exchange rate FY 2024/251) Spot rate, August 14, 2026 Estimated average exchange rate 2025/263 Change in estimated average exchange rate compared to last year Average exchange rate 9M 2024/25 Average exchange rate 9M 2025/26 Change in average exchange rates for 9M compared to 9M last year Key currencies: USD 676 647 643 -5% 689 641 -7% GBP 882 875 863 -2% 889 859 -3% HUF 1.85 2.06 2.00 8% 1.84 1.98 8% Other selected currencies: CNY 94 96 93 -1% 95 92 -3% JPY 4.53 4.07 4.09 -10% 4.60 4.09 -11% AUD 435 458 445 2% 441 440 0% BRL 119 125 123 3% 120 123 2% ARS2) 0.47 0.43 0.43 -9% 0.54 0.44 -19% Foreign exchange rate guidance for 2025/26 1) Average exchange rate from October 1, 2024 to September 30, 2025. 2) The hyperinflationary economy in Argentina entails that results denominated in Argentinian Peso must be adjusted for inflation and be translated at the exchange rate of the balance sheet day which was DKK 0.54 per ARS 100.00 at June 30, 2025, DKK 0.47 per ARS 100.00 at September 30, 2025 and DKK 0.44 per ARS 100.00 at June 30, 2026. 3) Estimated average exchange rate is calculated as the average exchange rate year for the first six months combined with the spot rates at August 14 2026 18% 10% 14% 24% 35% EUR USD GBP CNY, JPY, AUD, BRL & ARS Other
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Capital structure 73 Overall policy is that excess liquidity is returned to shareholders through a combination of dividends (paid bi-annually) and share buy-backs. Coloplast will not initiate a share buy-back program in FY 2025/26 as treasury shares are sufficient to hedge outstanding employee share options. Interest bearing debt will only be raised in connection with a major acquisition or other special purposes. FY 21/22 increase in net interest bearing debt (NIBD) driven primarily by the Eurobond issuance of EUR 2.2bn in 2022 related to the Atos Medical acquisition. FY 23/24: Increase in NIBD driven by debt raised to cover the extraordinary tax payment made in Q2, related to the transfer of Atos Medical’s Intellectual Property. FY 23/24: 2-year bond of EUR 650m, which expired 19 May 2024, was refinanced through a committed term loan (terms: CIBOR 3M+80bps). FY 25/26: Refinancing of EUR 800m revolving credit facility (RCF) in January 2026. The facility retains the same terms and conditions and matures in January 2029. The structure remains a standard RCF. Coloplast has a credit rating of BBB+ by S&P Global Ratings (latest rating as of June 2026). Coloplast is committed to deleveraging and bringing the gearing ratio down to around 1.5x EBITDA towards 2029/30 Highlights Net interest-bearing debt 1) Before special items 21/2220/2119/20 24/2523/2422/23 25/26 YTD 2.4x2.5x2.4x2.3x 0.3x0.2x 2.6x 18,091 21,69221,841 18,660 2,1121,162 22,986 NIBD (DKKm)NIBD/EBITDA1
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Coloplast manufacturing footprint and COGS categories Zhuhai Tatabánya Nyirbátor Sarlat Mørdrup Minneapolis Costa Rica Production by country (Volume)¹ COGS by cost type² 1) Produced quantity of finished goods. 2) FY 2024/25 Cost of goods sold, DKK 8,929m 3) Other includes IT, repair & maintenance costs, etc. Innovation & Pilot Centre High Volume Production Specialised Production Hörby 74 Isafjordur High Volume Production under construction Nieder-Olm Porto 9% 13% 52% 6% 2% 5% 13% Other Freight Energy Depreciations & amortisations Materials (RM &SFG) Salary - Indirect Salary - Direct 0% 3%9% 17% 0% 70%Kerecis (Iceland) Atos (SE/DE) China Costa Rica US/France Hungary Volume and specialised production sites4
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9M 2025/26 progress on key sustainability ambitions 75 Use less materials Net Zero by 2045 Positively impact people Materials1 (by 2030) Scope 1+2 emissions reduction (by 2030)2,4,7 Renewable energy usage4,6,7 Business travel by air1,2 Electric company cars (by 2030)1 Goods transported by air1 Lost time injury frequency (ppm) (by 2030) 4 White-collars trained in Code of Conduct 1 Diversity in Leadership1,3 (by 2030) Employee engagement1,3 Ambition Scope 3 emissions Reduction per product (by 2030)1,2, 1) Metric will only be reported on a semi-annual or full-year basis. 2) From base year 2018/19. 3) New methodology for the employee engagement survey; results are incomparable to prior periods. Industry benchmark of 74% based on top 50% within Healthcare. 4) Four quarters rolling average. 5) Continuity of the former target called “Female senior leaders (VP+ level)”. 6) Renewable energy reduction is a key driver for reducing the scope 1&2 target. 7) Last year’s numbers have been adjusted to comply with CSRD requirements. 10% reduction and then freeze )m 24/25 9M 25/26 15%-20% 90% 38% 33% 100% 88% 87% 100% 10% <5% of total 40% 100% 1.5 1.9 >74% Users & HCPs1 Reimbursement improvements in 5 markets FY 24/25 41% Ambition 9M 24/25 9M 25/26 FY 24/25 69% 16% -10% 10% 61% 3% 1.7 99% 26% Ambition 9M 24/25 9M 25/26 FY 24/25 27% 1.7 >78%
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Appendices Leading intimate healthcare
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The Coloplast share (COLO-B.CO) Coloplast share listed on Nasdaq Copenhagen since 1983 ~95.3 billion DKK (~15 billion USD) market cap @ ~422.90 DKK per share (incl. A shares) Two share classes: • 18m A shares carry 10 votes (family) • 210.2m B shares carry 1 vote (freely traded) • Free float approx. 54% (B shares) Note: Share capital ownership as per September 2025 1 Holders of A shares and family hold 67% of the votes in Coloplast Share Capital Ownership 77 43% 9% 38% 7%1% 2% Holders of A shares and family 1 Danish institutions Foreign institutions Coloplast A/S Other shareholders Non-registered shareholders
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Gavin Wood, President & CEO Biography Employment Company Group Chairman, MedTech EMEA, Johnson & Johnson - 2022-2026 Responsible for leading a multibillion-dollar business with more than 7,000 employees. Worldwide President, Wound Closure & Healing, Ethicon - 2019-2022 Responsible for the innovation agenda and the global P&L. Executive Vice President, Global Commercial, Mölnlycke - 2018-2019 Responsible for leading the global commercial organisation. In addition, Gavin Wood has held various commercial leadership positions across Johnson & Johnson from 2002 to 2015, as well as roles in strategy, business development, and marketing at Mölnlycke from 2015 to 2018. Education Bachelor of Arts degree in Law from Carleton University, Canada MBA from Queen’s University, Canada 78
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Immaterial impact from tariffs expected as most products are currently exempt 79 Chronic Care No exposure – products for the management of chronic care conditions are currently exempt. Advanced Wound Care Limited exposure with some products exempt. Voice & Respiratory Care No exposure – products for the management of chronic care conditions are currently exempt. Interventional Urology Limited exposure as key products for the US market, primarily from the Men’s Health segment, are manufactured in the US.
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Timeline of CMS Skin substitutes reforms 80 2023 August New LCD policy announced (Kerecis covered) 2023 September LCD policy withdrawn 2025 June Proposed Rules about fixed pricing 2024 April 7 MACs LCDs announced (Kerecis not covered) 2025 24 December Final LCD policy withdrawn 2025 15 December Final LCD policy updated structure (Kerecis covered) 2026 January Rules implemented 2024 November Final LCD policy (Kerecis covered) 2025 January Final LCD policy delayed to April 2025 April Final LCD policy delayed again to 2026, 1 January 2025 October Rules finanlised Coverage - LCDPayment OPPS & PFS
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We continuously monitor the healthcare reimbursement environment. We expect neutral impact from pricing over the Impact4 strategic period 81 Europe: Rest of World: Netherlands Reimbursement pressure on both OC and CC. France Reimbursement pressure on AWD, OC (Supporting products) and IC. Italy Retroactive regional payback system US Biologics Fixed payment of USD 127/cm2 implemented January 1, 2026 in the Medicare outpatient setting. CMS proposed rule with fixed payment of USD 127/cm2 for 2027. US Chronic OC and CC products included in the Nationwide Remote Item Delivery Competitive Bidding Programme (Medicare coverage). According to CMS, contracts under the CBP expected to take effect no later than January 1, 2028. US IC CMS established three new dedicated codes for hydrophilic catheters, with implementation date as of January 1, 2026. Germany Potential price reform on AWD.
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Sustainability - key priorities and actions Use less materials Net Zero by 2045 Positively impact people As a manufacturer of medical products made primarily of plastic, Coloplast embraces the responsibility to contribute to solving the problems with plastic waste, whilst maintaining the highest level of product safety. We will use fewer resources, targeting a 15– 20%1 reduction in product and packaging materials by 2030. Why is this a key priority: • Redesign packaging for optimal material use • Use more sustainable materials in products • Increase the share of recycled materials used in primary, secondary and tertiary packaging • Explore options for material re-use and recycling in our own operations How will we achieve this? Sustainability remains a core strategic priority, supported by clear and measurable targets, where we aim for Net Zero by 2045. In Impact4, we will reduce our environmental footprint by lowering scope 1+2 emissions by 90%1 and scope 3 emissions per product by 10%1 by 2029/30. Why is this a key priority: Coloplast is a people’s business. We want to ensure access to our products for people in need. Our people and culture are at the center of our Impact4 strategy. Maintaining and developing a safe, inclusive and diverse working environment is key to delivering on our strategy. Why is this a key priority: • Users & HCPs • Reimbursement improvements in ~5 markets • Employees • Reducing loss-time injury frequency through job- specific training – reach LTIs of 1.5 PPM or less • Increasing the % of female representation at Vice President+ level through natural turnover and senior leadership focus • Engaged workforce and reach Employee Engagement score in the top quartile of our industry • Code of conduct: 100% completion How will we achieve this? • Scope 1 & 2: • Renewable energy usage by switching to Power Purchase Agreements (PPAs) and phasing out natural gas • Converting company cars to electric vehicles • Scope 3: • Use lower carbon footprint materials in legacy portfolio (products and packaging) • Enable our suppliers to set targets and reduce emissions • Limit goods transported by air and business travel How will we achieve this? 82 1) From base year 2018/19
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M&A played a bigger role during Strive25 83 Early-stage technologies Opportunity based Systematic screening Nine Continents Medical (Intibia) 1) Three US direct-to-consumer Durable Medical Equipment (DME) dealers acquired by Coloplast in 2020/21 (Hope Medical Supply, Rocky Mountain Medical Supply, and Affordable Medical). 2020 Portfolio expansion TFL Drive (distribution agreement) Channel expansion US direct-to-consumer DME dealers1 • Fastest growing company in the biologics wound care segment • Acquired at an enterprise value of up to USD 1.3 billion (DKK ~8.9 billion). • Total price for 100% of the share capital is USD 1.2 billion (DKK ~8.2 billion), on a cash and debt free basis • Transaction financed through an equity issue, completed 30 August 2023 • Acquisition completed on 31 August 2023 • Business case: Three-year revenue CAGR of ~30% until FY 2025/26 and EBIT margin of ~20% in FY 2025/26 • Attractive gross margin level, accretive to Coloplast • Transaction increasingly EPS accretive from FY 2026/27 • The leader in the attractive chronic laryngectomy market • Around 75% of the purchase value (around DKK 16 billion) treated as goodwill • Remaining 25% treated as intangibles, to be amortised over approximately 15 years (around DKK 200 million PPA amortisation per year) • Structured as a 100% cash payment financed through debt financing • Acquisition completed on 31 January 2022 • Estimated run-rate operational synergies of up to DKK 100m from utilising Coloplast infrastructure by FY 2024/25 • Increasingly EPS accretive from FY 2022/23 2022 2023
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Introducing Ostomy Care Distribution of revenues* * Excluding baseplates, hospital assortment, sets and supporting products Key products Assura® new generation Launched in 1998 Alterna® original Launched in 1991 SenSura® Launched in 2006-2008 SenSura® Mio Launched in 2014 SenSura® Mio Convex Launched in 2015 SenSura® Mio Concave Launched in 2018-2019 • Between 3 and 4 million people live with a stoma globally, ~2/3 in the developed markets • Up to around 500,000 stoma surgeries per year in developed markets and China Disease areas • Colorectal cancer (est. 45%) • Bladder cancer (est. 10%) • Diverticulitis (est. 15%) • Inflammatory bowel disease (est. 10%) • Other (est. 20%) Customer groups • Nurses, mainly stoma care nurses • People with a stoma • Wholesalers/distribution • Hospital purchasers and GPOs • Surgeons Call points • Hospital & community nurses • Hospital buyers • Distributors • Dealers • Wholesalers • Homecare companies 84 SenSura® Mio in black Launch initiated in 2024 Colostomy Ileostomy Urostomy
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Introducing Ostomy Care Supporting Products Market fundamentals • Market size of DKK 4-5bn • Market growth of 6-8% • Market share 35-40% • Main competitors include Hollister Adapt, ConvaTec, 3M Cavilon, Eakin Customer groups & call points • Nurses, mainly stoma care nurses • People with a stoma • Wholesalers/distributors • Hospital purchasers and GPOs • Surgeons Distribution of revenues Key products Brava® Adhesive Remover Sting free and skin friendly Brava® Lubricating Deodorant Neutralizing odour Brava® Protective Seal Convex Designed for leakage and skin protection Brava® Elastic Tape Elastic so it follows the body and movements Brava® Skin Barrier Reducing skin problems without affecting adhesion Brava® Protective Seal Designed for leakage and skin protection Brava® is a range of ostomy supporting products designed to reduce leakage or care for skin, to make our end-users feel secure. The Brava portfolio was launched in 2012. 85 Heylo Digital leakage notification system (launched in the UK in 2024) Emerging markets Other developed markets European markets
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Introducing Continence Care • Intermittent catheters for management of urinary retention and collecting devices for management of urinary incontinence • Around 12 to 18 million people live with urinary retention globally. Only about half of them are discharged on an intermittent catheter and half of them drops out in the first five years due to physical and mental barriers Disease areas • Spinal Cord Injured, SCI • Spina Bifida, SB • Multiple Sclerosis, MS • Benign prostatic hyperplasia (BPH) & prostatectomy patients • Elderly Customer groups • Continence or home care nurses • Wholesalers/distributors • Hospital purchasers and GPOs Main call points • Rehabilitation centres • Urology wards • Distributors, dealers & wholesalers Distribution of revenues Key products Conveen® Optima External catheter Launched in 2005- 2006 Conveen® Security+ Launched in 2013 SpeediCath® Compact Male Intermittent catheter Launched in 2011 SpeediCath® Navi Intermittent catheter Launched in 2019-2020 SpeediCath® Flex Set Intermittent Set catheter Launch during 2022-2023 SpeediCath® Flex Intermittent catheter Launched in 2016 86 SpeediCath® Standard Intermittent catheter Launched in 1999 SpeediCath® Compact Eve Intermittent catheter Launched in 2014 Luja Intermittent catheter with Micro-hole Zone Technology Launched in 2023 (male) and 2024 (female) CC Other Bowel management Collecting devices (Urine bags & Urisheaths) Intermittent catheters
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Introducing Bowel Care Market fundamentals • Market size for transanal irrigation more than DKK 1bn • Around double-digit market growth Disease areas Chronic constipation Faecal incontinence Customer groups • Spinal Cord Injured • Spina Bifida • Multiple Sclerosis Call points • Rehab centers • Pediatric clinics • Urology wards Key products Peristeen® Transanal Irrigation Launched in 2003; Updated in 2011 Peristeen® Plus Transanal Irrigation Launched in 2021 ÷ Still taboo area and non-focus for healthcare professionals ÷ Limited patient awareness ÷ Training required (nurses, patients) ÷ Lack of reimbursement + Growing awareness + Significant under-penetration and unserved population + New devices addressing the many unmet needs Market dynamics 87 Peristeen® Light Transanal Irrigation 175ml Launched in 2024 250ml Launched in 2025 Distribution of revenues Emerging markets Other developed Europe
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Introducing Voice & Respiratory Care Laryngectomy Disease areas • People that have undergone a total laryngectomy, a typical treatment for advanced laryngeal and hypopharyngeal cancer and cancer recurrence Market dynamics • 50,000 new total laryngectomy (TL) surgeries performed annually • Only ~1/3 of patients undergoing TL surgery are treated with products, of which only ~50% use the appropriate amount of products • Average value per patient is DKK 20-30,000 in mature market Key products - Laryngectomy Distribution of revenues Home Go Night Protect Energy Free hands Provox® Life Adhesive Standard Sensitive Stability Night Provox® HMEs Voice Prostheses Accessories Provox® Adhesive remover Provox® Skin barrier Provox® Life Heat and Moisture Exchangers (HMEs) Micron XtraFlow 88 Provox® Vega Provox® Vega XtraSeal Provox® ActiValve Accessories Voice Prostheses Adhesives HMEs
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Introducing Voice & Respiratory Care Tracheostomy Disease areas • Performed when the airways are restricted, e.g., during an emergency when the airways are blocked, or when a disease or other problem makes normal breathing impossible • Can be temporary or permanent Market dynamics • 1-1.5 million estimated number of procedures globally • Estimated 20% are permanent (across different patient groups, for example neck and throat cancer patients, neurological diseases, patients with chronic obstructive pulmonary diseases), the rest 80% are temporary • The market today mainly consists of tubes used for breathing Key products - Tracheostomy Freevent® DualCare TrachPhone ® Freevent ® XtraCare Tracoe® twist Tracheostomy Tube 89 Portfolio expansion • Strengthened the tracheostomy product portfolio with the acquisition of the Tracoe® Group • The Tracoe Group develops, manufactures and sells a full and complementary range of tracheostomy care products, including percutaneous dilation sets for the beginning of care
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Introducing Interventional Urology • Men’s Health: men with erectile dysfunction. ~25% of men aged 40-70 years old experience moderate to severe erectile dysfunction. • Women’s Health: women with pelvic organ prolapse and stress urinary incontinence. ~50% of women 50- 79 years old report experiencing pelvic organ prolapse symptoms. An estimated 32% of women suffer from stress or mixed urinary incontinence. Disease areas • Urinary incontinence • Pelvic organ prolapse • Erectile dysfunction • Enlarged prostate • Kidney and urinary stones Customer groups • Surgeons • Purchasing departments and organizations • End customers Call points • Urologists • Uro-gynaecologists • Gynaecologists • Purchasing departments and organizations Distribution of revenues Key products Altis® single incision sling Launched in 2012 Women’s health – Surgical Urology Titan® Touch Inflatable Penile Prosthesis Launched in 2013, Men’s health JJ stents Launched in 1998 Single use devices 90 Thulium Fiber Laser Drive Launched in 2022 Endourology Single use devices Women's Health Men's Health
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Introducing Wound & Tissue Repair Distribution of revenues* Key products Comfeel® Plus Hydrocolloid dressing. Relaunched in 2016 Shield® Features a borderless silicone contact layer protecting the intact fish skin. Launched in 2023 Biatain® Silicone Foam dressing with gentle silicone adhesive. Launched in 2016 Ag-version launched in 2018 Biatain® Superabsorber Non-adhesive dressing for high volumes of exudate Launched in 2024 Biatain® Fiber Reinforced gelling fiber. Launched in 2020 Ag-version launched in 2025 Biatain® Silicone Non-Border Silicone foam dressing without a border. Launched in 2021 Disease areas Chronic wounds • Leg ulcers • Diabetic foot ulcers • Pressure ulcers Other wound types: • Surgical • Burn Customer groups & call points Hospitals • Wound care committees • Specialist nurses/doctors • (Purchasers) Community • Specialist nurses/doctors • General practitioners • District/general nurses • Large nursing homes 91 Biatain® Silicone Fit Silicone foam dressing for pressure injury prevention and wound management. Launched in 2024 in the US * Excluding Contract manufacturing WC other Comfeel Foams and Fibers Biologics SurgiClose® Intact fish skin graft. Launched in 2021
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Income statement 92 1) Adjusted for the impact from the Kerecis IP transfer FY 2024/25 Revenue 7,355 6,958 6% Gross profit 4,908 4,705 4% SG&A costs -2,723 -2,578 6% R&D costs -281 -239 18% Other operating income/expenses 25 27 -7% Operating profit (EBIT) before special items 1,929 1,915 1% Special items -18 -83 nm Operating profit (EBIT) 1,911 1,832 4% Net financial items -37 -490 -92% Tax -412 -537 -23% 1,462 805 82%- Adjusted1) net profit before special items 1,476 1,112 33% Gross margin 67% 68% EBIT margin before special items 26% 28% 26% 26% Earnings per share (EPS) before special items, diluted 6.55 3.86 70% Adjusted1) earnings per share (EPS) before special items, diluted 6.55 4.93 33% Net profit Key ratios EBIT margin DKKm Q3 2024/25 Change Q3 2025/26
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Balance sheet 93 46,938 47,880 Non-current assets 36,541 37,324 -2% Current assets 10,397 47,880 -78% of which: Inventories 4,131 3,777 9% Trade receivables 4,667 4,789 -3% Marketable securities, cash, and cash equivalents 817 726 13% Other receivables 353 543 -35% Total equity 13,367 16,448 -19% Non-current liabilities 26,911 20,879 29% Current liabilities 6,660 10,553 -37% of which: Trade payables 1,363 1,186 15% Other credit institutions 2,627 6,685 -61% Income tax 164 1,354 -88% Other payables 2,179 1,021 113% Return on average invested capital before tax (ROIC)1) 20% 19% 15% 11% 15% 15% Net asset value per share, DKK 59 73 -19% 1)Before special items. After special items, ROIC before tax was 9% (2024/25: 18%), and ROIC after tax was 7% (2024/25: 11%). 2)Adjusted for the impact from the Kerecis IP transfer YTD 2025/24 Invested capital 40,891 -9% Adjusted2) return on average invested capital after tax (ROIC)1) Return on average invested capital after tax (ROIC)1) 37,308 Balance, total -2% Assets Equity and liabilities Key ratios Equity ratio 34% DKKm 30 Jun 2025 Change 30 Jun 2026 28%
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Cash flow 94 1) Gross CAPEX including divestment of PPE and investment in intangibles, and excluding finance leases EBIT 2,521 5,477 -54% Amortisation 3,379 369 816% Depreciation 678 646 5% Adjustment for other non-cash operating items 83 113 -27% Change in working capital -345 -977 -65% Net Financial items -366 -803 -54% Paid tax -541 -445 22% CAPEX1 -1,159 -1,036 12% Property, plant and equipment sold 11 4 175% Investment in other investments -29 -21 38% Company divestments - 192 nm Acquisitions of subsidiaries -139 - nm Cash flow from investments -1,316 -861 53% Dividends -5,183 -4,958 5% - 27 -100% -216 -212 2% 840 - - 303 1,600 -81% Net cash flow -163 -24 579% Net aquisition of treasury shares and exercise of share options Repayment of lease liabilities Movements on credit facilities Cash flow from operations 4,380 23% Free cash flow 3,519 16% DKKm 9M 2024/25 Change Financing through debt funding 9M 2025/26 5,409 4,093
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Production sites 95 • Continence care products • Ostomy care products • Machine building • Number of employees in production: ~700 Hungary Tatabánya Tatabánya PDC • Continence care products • Wound care products • Consumer products • Number of employees in production: ~2,900 • Ostomy care products • Adhesives • Continence care products • Interventional Urology products • Number of employees in production: ~1,750 • Postponement & packaging • Cross docking • Warehousing • Distribution & shipping • Number of employees: ~450 Nyírbátor Zhuhai China Costa Rica Cartago • The first high volume production site became operational in Q2 2020/21 • The second high volume production site opened in Q3 2021/22 • Ostomy care and continence care products • Number of employees in production: ~1,300 • Pilot development work Ostomy care, Continence care and Wound care • Adhesives production • Number of employees in production: ~230 Mørdrup Denmark
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Production sites 96 France Sweden Sarlat • Disposable surgical urology products • Number of employees in production: ~240 Minneapolis • Interventional Urology products • Number of employees in production: ~110 US • Research & Development centre and manufacturing of laryngectomy products • Number of employees in production: ~180 Hörby Nieder-Olm Germany • Specialised production • Research & Development centre and manufacturing of tracheostomy products • Number of employees in production: ~240 Iceland Isafjordur • Specialised production • Research & Development centre and manufacturing of biologics wound care products • Number of employees in production: ~80 Portugal • High volume production under construction • The new manufacturing site of 30,000 m2, expected to be operational in FY 2025/26 • Number of employees in production: ~220 Felgueiras
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Coloplast Sponsored Level 1 ADR programme 97 Benefits of a Coloplast ADR programme to US Investors: • Coloplast has established a sponsored ADR programme in the US, as a service to US investors by offering an alternative way to trade Coloplast shares, while serving to further broaden the company’s shareholder base over the long term. • Clear and settle according to normal US standards • Offer the convenience of stock quotes and dividend payments in US dollars • Can be purchased/sold in the same way as other US stocks via a US broker • Provide a cost-effective means of international portfolio diversification • Ability to acquire the underlying securities directly upon cancellation For questions about creating Coloplast ADRs, please contact BNY Mellon: Coloplast Sponsored ADR Programme Symbol CLPBY Structure Level 1 ADR Exchange OTC CUSIP 19624Y101 DR ISIN US19624Y1010 Ratio 10 ADRs : 1 ordinary share Country Denmark Underlying SEDOL B8FMRX8 Underlying ISIN DK0060448595 Depositary Bank BNY Mellon New York Rick Maehr: Direct tel.: +1 212 815 2275 adrdesk@bnymellon.com London Mark Lewis: Direct tel.: +44 207 163 7407 adrdesk@bnymellon.com
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Contact Investor Relations 98 Holtedam 1 DK-3050 Humlebæk Denmark Aleksandra Dimovska Vice President, Investor Relations On maternity leave Kristine Husted Munk Senior Director, Investor Relations Tel. direct: +45 4911 3266 Office: +45 4911 1800 dkkhu@coloplast.com Julie Müggler Coordinator & PA, Investor Relations Tel. direct: +45 4911 3161 Office: +45 4911 1800 dkjusm@coloplast.com Simone Dyrby Helvind Senior Manager, Investor Relations Tel. direct: +45 4911 2981 Office: +45 4911 1800 dksdk@coloplast.com
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Mission Making life easier for people with intimate healthcare needs Values Closeness… to better understand Passion… to make a difference Respect and responsibility… to guide us Vision Setting the global standard for listening and responding The Coloplast story begins back in 1954. Elise Sørensen is a nurse. Her sister Thora has just had an ostomy operation and is afraid to go out in public, fearing that her stoma might leak. Listening to her sister’s problems, Elise conceives the idea of the world’s first adhesive ostomy bag. Based on Elise’s idea, Aage Louis-Hansen, a civil engineer and plastics manufacturer, and his wife Johanne Louis-Hansen, a trained nurse, created the ostomy bag. A bag that does not leak, giving Thora – and thousands of people like her – the chance to live the life they want. A simple solution that makes a difference. Today, the Coloplast Group develops products and services that help millions of people live more independent lives through solutions tailored to their needs. Globally, our business areas include Ostomy Care, Continence Care, Voice & Respiratory Care, Wound & Tissue Repair, and Interventional Urology.