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Coloplast value creation through profitable growthGoldman Sachs European Medtech & Healthcare Conference, London

Lars Rasmussen, President & CEO

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15

32

10152025303540

Dec 08 Dec 13

ColoplastMedianBest 1/4

Coloplast EBIT margin versus peer group (%)

07/08 08/09 09/10 10/11 11/12 12/13

Total Shareholder Return ~35% CAGR

63

74

Ennova benchmark Coloplast

Coloplast Engagement Survey 2014

Patient View Survey 2014

• 300 patient groups from 42 countries

• Coloplast #1

In recent years we have delivered great results

Outperforming

peers

Attractive

shareholder return

Motivated

employees

#1 among

our consumers

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How we compete

8

9

Untapped potential in Europe

Increased momentum in Other Developed

Markets – incl. breakthrough in US

Expansion in Emerging Markets – incl.

leadership in select countries

Wound Care leadership in key Emerging

Markets + pockets of growth in mature markets

Global potential in Urology Care

5

6

7

Where we compete

1 Develop and market the world’s best products

4 Secure an efficient setup

2 Interact and build consumers relations

3 Invest in sales pressure

Our strategy remains centred on value creation through profitable organic growth

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We have launched significant innovative consumer oriented products in all areas...

- Continence Care - - Ostomy Care - - Wound Care - - Urology Care -

1

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OC

CC

Acces-

sories

14/15

1 2

15/16

1 2

16/17

1 2

17/18

1 2

New

Mio

...and we have the most exciting pipeline ever

13/14

1 2

UC

WSC

1

SCC

Eve

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We believe consumer relations will be key to our future success and we reach out to consumers via two programs

Coloplast® Care Direct-to-Consumer

CARE is a retention program Direct-to-Consumer is a marketing program

2

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We currently invest to grow…

Sales force60%

Consumer programs25%

Other15%

Sales investments*...

Emerging Markets60%

Other Developed Markets

20%

Europe20%

* 12/13 to Q2 13/14. HQ investments allocated to geographies pro rata.

3

20132012

+10%

Rep count development 2012 to 2013

...by area:

...by type:

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...and we have great potential for further sales investments- Key areas for further investments -

Continence Care

Ostomy Care

Wound & Skin Care

Urology Care

European Markets Other Developed

Markets

Emerging Markets

Expand Wound Care

Consumer programs Capture fair share Build markets and

secure leadership

3

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We have an ambitious long term guidance

7 – 10%

Revenue growth

- annual organic -

0.5 – 1.0%

EBIT margin

- annual expansion -A B

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Mix

Price

Volume

Net effect

Market (all-else-equal)

Relatively

unchanged

~1%

price

pressure

Mid single

digit growth

4 - 5%

value growth

Coloplast efforts

Up

selling

Price

optimization

Share

gains

Volume and value

share gains

Ongoing

value

upgrade

< ~1%

price

pressure

High single

digit growth

7- 10%

value growth

Net effect on Coloplast

We accelerate volume growth and manage price pressure...A

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...while driving economies of scale in our cost functions

Source: Coloplast annual reports

Scalability potential Investments requirementsOutlook

42,1 32,3

008/09 12/13

High Medium

30,4 28,4

008/09 12/13

Medium High

7,0 4,50

08/09 12/13

High Low

4,4 3,20

08/09 12/13

Medium Medium

Development

Percentage of revenue

Outlook Cost item

As reported

COGS

Distribution

Admin

R&D

B

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In sum, Coloplast offers an attractive investment case with continued value creation through profitable growth

Stable and attractive market fundamentals

Value creation

Organic

commercial

potential

Scalable

business

model

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Coloplast Executive Management

Lars Rasmussen

President, CEO

• Born 1959

• Coloplast since 1988

Allan Rasmussen

EVP, Global Operat.

• Born 1967

• Coloplast since 1992

Anders L.-Skovgaard

EVP, CFO

• Born 1972

• Coloplast since 2006

Kristian Villumsen

EVP Chronic Care

• Born 1971

• Coloplast since 2008

Further information is available from www.coloplast.com