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Making life easier Joshua | User, Ostomy Care Impact4: Setting the standard of care at scale Conference call 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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4 Dorote | User, Continence Care 6% Organic growth 5% EBIT growth in constant currencies *15% ROIC * *before special items and in constant currencies **after tax and before special items. ** Q3 2025/26 financial result
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9M organic growth of 6% driven by Chronic Care and Interventional Urology 5 Continence Care Voice & Respiratory Care Wound & Tissue Repair Ostomy Care 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
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Reported revenue in 9M grew 3%, with 6% organic growth and 3%-points negative impact from currencies 6 • 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 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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EBIT margin of 26%1 in 9M: ~90 basis points negative impact from currencies and ~50 basis points negative impact from Kerecis 7 • 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 vs. 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 25/26 (constant currencies) Currency effect Reported EBIT margin 9M 25/26 ∆ Other operating items ∆ R&D- to-sales ∆ Admin- to-sales ∆ Distribution- to-sales ∆ Gross margin Reported EBIT margin 9M 24/25 -1.0% 0.0% -0.3% 0.0% 27.3% 26.1% 27.0%
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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 8 • 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 still expected to be around 25% for 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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9 Unchanged financial guidance for FY 2025/26 Organic revenue growth Reported revenue growth in DKK EBIT growth* in constant currencies ROIC** Capex-to-sales ratio Around 3% Around 5% Around 15% Around 5% *before special items. **After tax, before special items 5-6% Effective tax rate Around 22%
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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