MANAGEMENT STATEMENT

The Executive Management and the Board of Directors have today considered and adopted the annual report of Lundbeckfonden for the financial year 1 January - 31 December 2022.

The consolidated financial statements is prepared in accordance with International Financial Reporting Standards as adopted by the EU and the additional requirements of the Danish Financial Statements Act, and the Parent Foundation financial statements are prepared in accordance with the Danish Financial Statements Act.

In our opinion, the consolidated financial statements and the Parent Foundation financial statements give a true and fair view of the financial position at 31 December 2022 of the Group and the Parent Foundation, and of the results of the Group’s and the Parent Foundation’s operations and the Group’s cash flows for 2022.

In our opinion, the management’s review includes a fair review of developments in the Group’s and the Parent Foundation’s activities and finances, results for the year and the Group’s and the Parent Foundation’s financial position in general, as well as a fair description of the principal risks and uncertainties to which the Group and the Parent Foundation are exposed.

Copenhagen, 27 March 2023

Executive Management

Lene Skole

BOARD OF DIRECTORS

Steffen Kragh Chair

Peter Schütze Deputy Chair

Gunhild Waldemar Lars Holmqvist

Michael Kjær

Susanne Krüger Kjær

Svend Andersen

Henrik Sindal Jensen Elected by the employees

Katja Barnkob Elected by the employees

Morten