Introduction of A- and B-share class structure in H. Lundbeck A/S and subsequent A- for B-share exchange offer to eligible shareholders by the Lundbeck Foundation

Lundbeck has adopted a new capital structure with A-Shares and B-Shares (1:5) introduced as an initiative to enhance the company’s long term financial capacity while maintaining the long-term stability provided by the Lundbeck Foundation’s majority ownership.

The purpose of the proposed new capital structure is to entail a capital structure whereby each of Lundbeck’s existing shares are split into one (1) A-Share carrying ten votes and four (4) B-shares each carrying one vote. The A-shares and the B-shares are ordinary, fully-paid shares carrying equal economic rights in all respects. Thus, all shareholders maintain the same financial ownership and voting share compared to before the proposed new capital structure.

In order to accommodate shareholders who prefer to hold B-shares, the Lundbeck Foundation has, through the Foundation’s fully owned subsidiary Lundbeckfond Invest A/S, offered eligible shareholders a 1:1 exchange of their A-shares with the Lundbeck Foundation’s B-shares, available during  20 business days after the admission to trading of the new shares from 10 June until 8 July 2022.

With the new capital structure being adopted, B-Shares have the potential to act as a new funding source for Lundbeck that can be deployed with a lower impact on voting rights dilution.

Carnegie acted as Exclusive Financial Adviser to the Lundbeck Foundation.

For further information, please contact Nikolaj Bundgaard, Jacob Gruelund, Jesper Sylvest Nielsen or Peder Havander.

About the Lundbeck Foundation

The Lundbeck Foundation is a commercial foundation whose purpose is to strengthen brain health in Denmark and to develop the Danish business sector. The Lundbeck Foundation has been a majority shareholder of Lundbeck since the foundation was established in 1954 by Grete Lundbeck, widow of the founder of Lundbeck, Hans Lundbeck. The Lundbeck Foundation was sole owner of the company from 1965 until 1999 when Lundbeck was listed on the stock exchange. The Lundbeck Foundation conducts its ownership of Lundbeck indirectly via its fully owned subsidiary Lundbeckfond Invest A/S, the shareholder of Lundbeck, holding c. 69 % of the shares in Lundbeck.

About Lundbeck

Lundbeck is a global pharmaceutical company specialized in brain diseases. For more than 70 years, is has been at the forefront of neuroscience research. The company is tirelessly dedicated to restoring brain health, so every person can be their best. It is committed to fighting stigma and discrimination against people living with brain diseases and advocating for broader social acceptance of people with brain health conditions. Its research programs tackle some of the most complex challenges in neuroscience, and the pipeline is focused on bringing forward transformative treatments for brain diseases for which there are few, if any therapeutic options.

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