Group Strategy UpdateColoplast Capital Markets Day 2016

Lars Rasmussen, President & CEO

11,635 12,42813,909

7.0

9.1

7.2

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

Since 2012 we have delivered strong revenue growth, EBIT-margin expansion and significant cash returns

Page 2

Revenue growth EBIT margin

15/16E

7-8

14/1513/1412/13

Organic growth (%)

13/14 14/15

33.4

31.6

~33

12/13 15/16E

32.6

2,105

500

2,535

14/15

2,820

12/13

2,605

13/14

3,035

500 500

2,320

Pay-out ratio (%)*Share buy-back

Dividends (DKKm)

Cash return

*2013/14 and 2014/15 are before special items

Revenue (DKKm) Reported EBIT margin (%)*

*2013/14 and 2014/15 are before special items

78 7782

Coloplast has advanced from being in the middle of our peer group to leading it

3. Coloplast sales CAGR 2009/2010 to 2014/20154. EBIT margin 2014/2015 before special items

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6 years ago we were lagging behind our peer group…

Boston

Sonova

-2.2

Coloplast1

CR Bard

6.3

S&N

WDH 7.9

Baxter

St Jude

Medtronic

10.5

10.3

WEGO

Covidien

5.6

31.0

5.4

4.5

5.6

Stryker

7.3

6.9

11.0

Getinge

Sales CAGR 2007-2010 EBIT margin 2010

25.4

St Jude

Sonova

Medtronic

Covidien

Coloplast2

Getinge

20.5

Stryker

16.6

16.8

WEGO

Baxter

WDH

24.0

Boston

20.7

CR Bard 27.8

12.7

17.4

S&N

25.6

25.8

26.7

31.3

In percent

Median*: 7.1 22.3

…Today, we lead it

1.8

Boston

Sonova

Baxter

Convatec

CR Bard

3.5

Getinge

7.9

WDH 9.7

4.4

St Jude

S&N

Medtronic

-4.4

0.6

1.1

Stryker

4.6

5.6

6.4

6.8

Coloplast3

WEGO 25.4

Sales CAGR 2010-2015 EBIT margin 2015

14.2

13.9

St Jude

17.6

19.4

Boston

Getinge9.0

13.6

18.6WDH

Stryker 18.7

23.3

Baxter

-4.4

S&N

Convatec

Medtronic 18.6

Sonova

WEGO

CR Bard

Coloplast4

24.7

32.6

In percent

Median*: 4.5 18.1

1. Coloplast sales CAGR 2007/2008 to 2010/20112. EBIT margin 2010/2011

* Median does not include Coloplast

Source: Bloomberg (latest full year reports) and annual reports 2015

We have invested DKK 1bn in attractive business cases to further fuel growth

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by geography:by type:

Other Developed Markets20%

Emerging Markets

45%

Europe35%

Sales force60%

Consumer25%

Other15%

We have invested 1bn in the business since 2012 … … in attractive investment cases

China

US

UK

Consumer

Brazil

We have launched innovative products across business areas …

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Continence Care Ostomy Care Wound Care Urology Care

… and we now reach out to more than 1 million consumers globally

Page 6

Consumer focus

We have delivered on our ambitious strategy with significant achievements …

Page 7

• Continued strong underlying momentum in core

European business

• Increased momentum in Other Developed Markets

• Expansion in Emerging Markets

• Turnaround in Wound Care

• Globalization of Urology Care

Achievements

Having delivered on our strategy

we will now introduce the new

Coloplast Corporate Strategy

LEAD20

Our new strategy will drive revenue and earnings growth

Page 9

We will lead across 4 themes

to ensure that

We lead and shape our industries

1

2

3

4

We are continuously challenging the industry standards by taking a user focused market approach

Page 10

Classical medical device company

Building a consumer healthcare company

Consumer We are making Wound Care intuitive with Triangle of Wound Assessment (ToWA)

Shape the standard of care in the AWC industry

H

Unique user focused market approach1

Clear value propositions guide our R&D to continuously deliver superior products and innovation to our users

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Superior products and innovation

Supported by clear value propositions to guide our R&D effort

Making life easier for people with

intimate healthcare needs

Our mission Next generation products

Eliminate the burden of leakage

New R&D roadmapReducing the burden of bladder management

New product categoriesFewer days with wounds

Broadening product portfolioTogether to care

Foundation on clinical evidence and differentiation

2

We will continue to drive unparalleled efficiency across Global Operations and Business Support

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Unparalleled efficiency

Drive efficiencies through Global Operations Plan…

• Efficiency improvement in the subsidiaries, HQ and business support centre

• Subsidiaries to focus on commercial priorities

• Add new tasks performed by our Business Centre on an ongoing basis

…and Business Support

1. Reduce risk of supply disruption

2. Improve quality of daily material supply

3. Develop footprint 4. Innovation Excellence

5. Optimise supply chain and distribution

6. Retain cost focus

3

Expansion relies on our organisation and strong leadership development is key to support growth

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Our organisation will grow … … and it will be even more important to hire for a career and not a job

~250

new leadersby 19/20

Strong leadership development

Build our internal leadership pipeline

Secure performance and people development

Hire externally for key leadership competencies

Continue to recruit young talent straight out of school

Internal External

~3,000new positions

by 19/20

4

The strategy will commit up to DKK 2bn in new investments towards 2020

Page 14

Wound care

Innovation

Consumer

Key strategic initiatives Geographical focus areas

Emerging Markets

Pacific

USUK

Two key investment areas will be the US and Wound Care

Page 15

US to deliver +10% growth Wound Care to deliver +10% growth

Become a trulyglobal player

Doubleour business

Become a trulyglobal player

Shape the standard of care

From a follower …

… To shaping the AWC industry

From 7-8% market share …

… To 10-15% market share

From 50% revenue outside Europe …

… To 60% revenue outside Europe

Make hydrophilic the standard

Become a consumer healthcare company

Challenge the market leader

From breakthrough …

… To challenging the market leader

From uncoated catheters …

… To advanced hydrophilic catheters

From a first mover in consumer …

… To driving consumer preferences

Our new long-term guidance will continue to deliver strong value creation

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7–9%

Revenue growthannual organic

50–100 bps

EBIT marginannual improvement

Page 17