Leading Intimate Healthcare. Lars Rasmussen, CEO

Leading Intimate Healthcare Lars Rasmussen, CEO

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.

Agenda Introduction to Coloplast Accelerating our global growth Margin expansion potential Cash returns and share buy-backs Q&A

Coloplast is a leading medtech company Group revenue FY 2012/13 by segment Full Year 2012/13 sales: DKK11.6bn (USD 2.0bn) Ostomy Care 42% #1 Continence Care 35% #1 Group revenue FY 2012/13 by geography Other developed markets 20% Emerging markets 13% #x Global position Wound & Skin Care 13% #4 Urology Care 10% European markets 67%

Non-Chronic Care Chronic Care Specialising in intimate healthcare needs Ostomy Care Who are our typical users People who have had their intestine redirected to an opening in the abdominal wall How do we help them? SenSura Mio Ostomy bag Continence Care People in need of bladder or bowel management SpeediCath Compact male urinary catheter Urology Care People with dysfunctional urinary and reproductive systems Titan Penile implant Wound Care People with difficult-to-heal wounds Biatain Silicone Foam wound dressing

Intimate health care is characterized by stable trends Demographics Growing elderly population increases customer base for Coloplast products Emerging markets Expanding healthcare coverage for populations in emerging markets increases addressable market Surgical and medical trends Earlier detection and cure, eventually reduces addressable market for Coloplast treatment products Healthcare reforms Economic restraints drive reimbursement reforms, introduction of tenders, and lower treatment cost Page 6

879 749 994 1.395 1.995 2.581 3.255 3.672 Since 2008 we have had a strong focus on profitability which has driven significant value creation 35% 30% 25% 20% 16% 21% 25% 30% 32% 33% 50% 40% 30% 23% 30% 38% 44% 15% 10% 5% 0% 13% 8% 9% 10% 12% 7% 6% 7% 6% 6% 7% 7% 20% 10% 0% 23% 15% 21% 18% 10% 10% 16% 16% 6% 9% 8% 5% 2005/06 2006/07 2007/08 2008/09 2009/10 2010/11 2011/12 2012/13 EBIT Organic growth FCF to sales ROIC after tax EBIT Margin EBIT Margin guidance Organic growth guidance

In March 2012 we updated our strategy with the aim of increasing revenue growth Value creation will come from increased growth based on a strong new product pipeline combined with continued cost discipline and operational excellence in manufacturing Continued growth in the core developed markets in Europe Increased growth in the developed markets outside Europe Further expansion and growth in Emerging Markets Stabilization of the European Wound Care business Globalization of Urology Care A strong new product pipeline Continued cost discipline and operational excellence in manufacturing

In Europe we are stepping up to the challenge and leveraging our market leader position Our situation Key priority 40-50% market share* profitable Capture growth based * Chronic Care market share 67% of our net revenues on high market share

Driven by a pipeline of new products with a clear commercial focus

Specific products and services And a new sales channel that gets us even closer to our customers Through Coloplast Care we DtC* is direct individualized marketing Connect to end users and form lifetime bond Market to the individual s need Advise with the right information at the right time Respond with frequent phone calls, emotional support and monthly newsletters Customised message and dialogue Enable our end users by making their lives easier Information tailored to the individual *DtC is Direct to Consumer

The developed markets outside Europe hold high potential for taking market shares Our situation 20-30% market share* Key priority Capture market share 20% of our net revenues in developed markets * Chronic Care market share

Through investments in identified growth opportunities Ostomy Care Continence Care USA Breakthrough via NPE and end user retention Defend and grow through NPD capture and new product introductions Canada Australia Accelerate new patient discharge, improve retention and drive conversion Strong focus on NPD and increase investments in the market Accelerate growth by leveraging strong market position Accelerate growth in intermittent catheters Japan Leverage market leader position Understand and explore large potential

Great potential to build markets and capture market shares in Emerging Markets Our situation Key priority Educate, 25-35% market share* create and 13% of our net revenues grow selected markets * Chronic Care market share

Geographical expansion holds significant longer term potential Develop growth platform e.g. in MENA Mexico India South Africa South East Asia Selected ROLA markets Build on and accelerate growth platform e.g. in China Brazil Russia Argentina Selected markets

13 Cost efficient production with more potential for improvements 18 Operational Excellence focus focus areas Lean in volume production Production by country* Re-design for manufacturing Global sourcing and supplier relations management Focus on fixed costs and environment Thisted Mørdrup 10% 5% Hungary China Cost effective distribution Design for manufacturing & fast ramp-up Sarlat Tatabánya Nyirbátor 25% 60% Denmark US/ France Minneapolis Average usage of raw material (RM) and semi finished goods (SFG) Mankato COGS by cost type* Innovation & Competency Centre High Volume Production Specialised Production 9% 19% 9% 49% 15% Salary - Direct Salary - Indirect Materials (RM & SFG) Depreciations & amortisations Other Zhuhai *FY 2012/13 Cost of goods sold, DKK 3,678 million

Operating leverage will generate funds for investments in growth High value growth in Europe Continued cost discipline Generates funds for investments in growth and leaves potential for improving cost ratios Administration (%) R&D (%) COGS (%) Distribution (%) 42.1 7.0 38.7 35.4 5.8 5.9 4.4 4.3 4.1 33.4 32.4 31.5 30.4 29.5 29.4 28.8 28.5 28.7 5.6 4.6 3.9 3.1 3.3 3.0 08/09 09/10 10/11 11/12 12/13 13/14 YTD 45.0 40.0 35.0 30.0 25.0 20.0 15.0 10.0 5.0 0.0 Incremental sales investments 11/12 12/13 13/14e

Excess cash is returned to shareholders DKKm 2.200 Ratio 90% Total dividend of DKK 10.00 per share in 2012/13 1.700 1.200 80% 70% 60% 50% Share buy-back programme of DKK 1bn, to be completed before end of fiscal year 2014/15 700 200 40% 30% 20% First part of DKK 500m started in march 2014-300 2003/04 2004/05 2011/12 2010/11 2009/10 2008/09 2007/08 2006/07 2005/06 Dividends Share buy-back Pay-out ratio 2012/13 10% 0% Interim dividends of DKK 4 per share will be returned to shareholders corresponding to DKK 844m after Q2

We expect continued value creation driven by... Stable market trends in our Chronic Care business Organic growth EBIT Margin 33% * Increased focus on growing the business outside Europe 16% 10% 10% 9% 10% Additional improvements in manufacturing by leveraging on global operations footprint European leverage will provide funds for further investments in sales Low CAPEX-to-sales ratio from high capacity utilisation and lean factory footprint Resulting in strong free cash flow generation and high return on invested capital 03/04 05/06 07/08 09/10 11/12 13/14 YTD FCF to sales ROIC after tax 11% 6% 4% 5% 23% 45% * 13% 03'04 05/06 07/08 09/10 11/12 13/14 YTD * Adjusted for mesh provision of DKK 1,000m

Offering a unique potential of stable growth, further margin expansion and increasing dividend yield