UCB's strong performance enables continued investment into future growth drivers - October 2019

 
UCB's strong performance enables continued investment into future growth drivers - October 2019
UCB’s strong performance
enables continued
investment into future
growth drivers

October 2019
UCB's strong performance enables continued investment into future growth drivers - October 2019
2
Disclaimer and safe harbor
                        Forward-looking statements
This presentation contains forward-looking statements, including, without limitation, statements containing the words “believes”, “anticipates”, “expects”, “intends”,
“plans”, “seeks”, “estimates”, “may”, “will”, and “continue” and similar expressions. These forward-looking statements are based on current plans, estimates and beliefs
of management. By their nature, such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks,
uncertainties, and assumptions which might cause the actual results, financial condition, performance or achievements of UCB, or industry results, to be materially
different from any future results, performance, or achievements expressed or implied by such forward-looking statements contained in this presentation.

Important factors that could result in such differences include but are not limited to: changes in general economic, business and competitive conditions, the inability to
obtain necessary regulatory approvals or to obtain them on acceptable terms or within expected timing, costs associated with research and development, changes in
the prospects for products in the pipeline or under development by UCB, effects of future judicial decisions or governmental investigations, product liability claims,
competition from other products including biosimilars, challenges to patent protection for products or product candidates, changes in laws or regulations, exchange
rate fluctuations, changes or uncertainties in tax laws or the administration of such laws and hiring and retention of its employees. There is no guarantee that new
product candidates will be discovered or identified, nor that such product candidates in the pipeline will progress to product approval or that new indications for existing
products will be developed and approved. Preclinical results also do not guarantee safe and effective performance of product candidates in humans. Products or
potential products which are the subject of partnerships, joint ventures or licensing collaborations may be subject to disputes between the partners or may not be as
safe or effective as UCB believed at the time of entering into such relationship. Also, UCB or others could discover safety, side effects or manufacturing problems with
its products after they are marketed. The discovery of significant problems with a product similar to one of UCB’s products that implicate an entire class of products
may have a material adverse effect on sales of the affected products. Moreover, sales may be impacted by international and domestic trends toward managed care
and health care cost containment, including pricing pressure, political and public scrutiny and the reimbursement policies imposed by third-party payers as well as
legislation affecting biopharmaceutical pricing and reimbursement. Finally, a breakdown, cyberattack or information security breach could compromise the
confidentiality, integrity and availability of UCB’s data and systems.

Given these uncertainties, the public is cautioned not to place any undue reliance on such forward-looking statements. These forward-looking statements are made
only as of the date of this presentation. UCB expressly disclaims any obligation to update any such forward-looking statements in this presentation to reflect any
change in its expectations with regard thereto or any change in events, conditions, for circumstances on which any such statement is based, unless such statement is
required pursuant to applicable laws and regulations.

In the event of any differences between this Presentation and the Annual or Half Year Report, the information included in the Report shall prevail.
UCB's strong performance enables continued investment into future growth drivers - October 2019
3
UCB is progressing on its strategic growth path
                       2019 achievements

                                                                                               Maximize number of lives we can impact positively
                                                                                                       Double digit growth for Cimzia® & Vimpat®
                                            Breakthrough &
                                                 Lead                                          Bring differentiated drugs faster to patients
                                                 2022                                                  Evenity® launch (U.S., Japan, Australia, Canada, & South Korea)
                                                                                                       Cimzia® launch in non-radiographic axial spondyloarthritis (U.S.)
              Accelerate &                                                                             Nayzilam® nasal spray approval in acute repetitive seizures (U.S.)
                Expand                                                                         Enhance clinical development cycle times
                 2019                                                                                  bimekizumab first positive Phase 3 trial in psoriasis (1 out of 3)
Grow &                                                                                                 bimekizumab Phase 3 program start in PsA & axSpA
Prepare                                                                                                padsevonil Phase 3 program start in drug-resistant epilepsy
 2015                                                                                                  rozanolixizumab Phase 3 start in MG & proof of concept in CIDP

                                                                                               Invest in innovation
                                                                                                       Agreement to acquire Ra Pharmaceuticals*
                                                                                                       rEBITDA / revenue ratio of 31% in 2022*

    PsA: psoriatic arthritis / axSpA: axial spondyloarthritis                       MG: myasthenia gravis / CIDP: Chronic Inflammatory Demyelinating Polyneuropathy
    * The acquisition is subject to anti-trust clearance & should be completed by the end of Q1 2020. The acquisition of Ra Pharma will not impact UCB’s 2019 financial guidance. The acquisition would be dilutive to UCB’s
    mid-term earnings level due to additional planned R&D investments. As a result, the mid-term target of UCB reaching a REBITDA ratio (to revenue) of 31% would move to 2022 from 2021 as previously guided.
UCB's strong performance enables continued investment into future growth drivers - October 2019
4
Maximize number of lives we can impact positively
                     Cimzia® sustainable growth through new patient populations &
                     differentiated value proposition
              Net sales per region                                        Net sales per indication
                                                                          PsO
                                                                          3%       CD
                                                                                  11%
                  EU                     U.S.
                 27%
             +8% CER
                                         PFS          HY 2019 net sales
                                         34%
                                                                          PsA
                                                        € 782 million     20%                  RA
        Int'l                                                                                 53%
       Markets
                                                      +15%; +10% CER
  +32%  12%                       U.S.
  CER                             LYO                                           axSpA
                                  27%         U.S.                               13%
                                            +8% CER

  Growth driven by new indications & women of child bearing age (WOCBA)

   PFS: pre-filled syringe
   LYO: lyophilized formulation
   CER = constant exchange rate
UCB's strong performance enables continued investment into future growth drivers - October 2019
5
6 potential product launches by 2025
                      Higher R&D investments into UCB's rich pipeline
                                                                                                  Launch (U.S., Japan, Australia, Canada
                                                                                                  & South Korea)
                                   Evenity®                   • post fracture osteoporosis
                                                                                                  CHMP positive opinion (EU – Oct 2019)
                                                                                                  Under review in other markets
                                                              • acute repetitive epilepsy         Approval (U.S.)
                                   Nayzilam®                    seizures                          Launch planned in the coming months
                                                              • psoriasis (PsO)                   • First positive Phase 3 trial (Oct 2019)
                                   bimekizumab                • psoriatic arthritis (PsA)         • Phase 3 started, results end of 2021
Creating value                                                • axial spondyloarthritis (axSpA)   • Phase 3 started, results end of 2021
 for patients                                                                                     • Phase 2b topline results H1 2020
                                   padsevonil                 • drug-resistant epilepsy
                                                                                                  • Phase 3 topline results H2 2021
                                                              • myasthenia gravis (MG)        • Phase 3 started, results H1 2021
                                   rozanolixizumab            • immune thrombocytopenia (ITP) • Phase 3 to start Q4 2019
                                                              • CIDP                          • Phase 2a started, results H1 2021
                                                                                                  • Phase 1 results
                                   UCB0107                    • progressive supranuclear palsy
                                                                                                  • Next Phase to start Q2 2020

    CIDP: chronic inflammatory demyelinating polyneuropathy
UCB's strong performance enables continued investment into future growth drivers - October 2019
6
Evolving understanding of overlapping disease highlights
bimekizumab relevance

Psoriatic diseases                                                                       Psoriatic         Spondyloarthritis
                                                                                         arthritis
~30% patients living with                                                                                  ~40% patients living with
                                                                                      ~1 % of population
 psoriasis progress to                                                                                      psoriatic arthritis have
   psoriatic arthritis                                              Psoriasis                                   axial disease
~40% patients living with                                               ~3% - ~5%
 psoriatic arthritis have                                               population
  moderate to severe
        psoriasis                                                                         Axial
                                                                                     spondyloarthritis
                                                                                        ~0.5% - ~1.4%
                                                                                          population

      Axial spondyloarthritis market is similar in size to rheumatoid arthritis
UCB's strong performance enables continued investment into future growth drivers - October 2019
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Focusing on markets with strong growth potential
                 Psoriasis                                                         Psoriatic arthritis                             Axial Spondyloarthritis
                                      $ 23 billion
                                          EU5
                                           4
      $ 13 billion
EU5
 2                                        U.S.                                                         $ 8 billion                                      $ 6 billion
                                                                                   $ 5 billion                                         $ 4 billion
                                           19
         U.S.                                                                                                        EU5         EU5                                   EU5
                                                                         EU5                                          2           1                                     1
          11                                                                                              U.S.
                                                                          1               U.S.                                            U.S.              U.S.
                                                                                           4               6                               3                 5
         2017                             2027                                            2017            2027                            2017              2027

                                                                                          8%                 9%                            8%                3%
         16%                               15%                                                            12%
                                                                                                           5%
         23%                               29%                                                                                                              54%

                                           10%                                            83%             48%                             85%
         38%
                                           21%
                                                                                                                                                            40%
         22%                               25%                                            5%              20%                              6%
                                                                                                                                          2017              2027
         2017                             2027                                            2017            2027

                    IL-17 A / IL-17 A/F                     TNF-alpha                       IL-12/23   IL-23               JAK          NSAIDs       Other mode of action

        Decision Resources - Psoriasis | Landscape & Forecast – November 2018
        Decision Resources – Psoriatic arthritis | Landscape & Forecast – November 2018
        Decision Resources – Axial spondyloarthritis | Landscape & Forecast – June 2019
UCB's strong performance enables continued investment into future growth drivers - October 2019
8
Translating scientific hypotheses into clinical development
                                                                                                                                                Available to
                                                      Phase 1          Phase 2                        Phase 3                        Filing      patients
Evenity® (romosozumab)
   post fracture osteoporosis                        Partner: Amgen                                                                             Japan & U.S.
Nayzilam® (midazolam nasal spray)
   acute repetitive seizures                                                                                                  Approval (U.S.)

bimekizumab (IL17A/F)
   psoriasis                                                                                        Topline results Q4 2019
   psoriatic arthritis                                                             Topline results end 2021
   axial spondyloarthritis                                                         Topline results end 2021

padsevonil (PPSI)
   drug-resistant epilepsy                                                          Topline results H2 2021
   drug-resistant epilepsy                           Topline results H1 2020

rozanolixizumab (FcRn)
   myasthenia gravis                                                              Topline results H1 2021
   immune thrombocytopenia                                     Confirmatory phase to start Q4 2019
   CIDP                                              Topline results H1 2021
                                                                                                                                                  Bone
dapirolizumab pegol (CD40L)
   systemic lupus erythematosus                      Partner: Biogen       Phase 3 to start H1 2020                                               Immunology
UCB0107                                                                Next Phase to start Q2 2020
                                                                                                                                                  Neurology
UCB0599 / UCB7858

     CIDP: Chronic Inflammatory Demyelinating Polyneuropathy
     UCB0159 terminated
UCB's strong performance enables continued investment into future growth drivers - October 2019
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Ra Pharma – Excellent strategic fit with UCB
                   Enriching our pipeline, adding new patient populations

                                               •
                                                  Acquiring novel, potential best-in-class C5 targeting
                                                   molecule – 50x smaller than comparable antibody

                                               
                                               •   Addressing significant unmet medical need in gMG,
                                                   IMNM, ALS and other disorders

 Creating value                                
                                               • Highly complementary with rozanolixizumab to support
  for patients                                     patients across their individual journey through
                                                   moderate/severe chronic and acute settings

                                               
                                               • Long term innovation acceleration with addition of
                                                   proprietary ExtremeDiversity™ macrocyclic peptide
                                                   chemistry platform

  gMG : generalized myasthenia gravis                                 The acquisition is subject to anti-trust clearance & should be completed by the end of Q1 2020.
  IMNM: immune-mediated necrotizing myopathy
  ALS: amyotrophic lateral sclerosis.
UCB's strong performance enables continued investment into future growth drivers - October 2019
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UCB is progressing on its strategic growth path
                        Executing on the "Accelerate & Expand" phase

                                 Enriching our pipeline, Adding external opportunities
Strategic missions                                                                             => Ra Pharma acquisition
•   Strive for leadership in specific                                                                  •   Lead in myasthenia gravis
    patient populations                                                                                    (C5 & anti FcRn)
•   Mitigate patent expirations                                                                        •   Accelerated top and bottom line
                                                                                                           growth after 2024
•   Strengthen pipeline diversity                                                                      •   Zilucoplan: ‘Pipeline in a product’
•   Sustain innovation                                                                                 •   Technology platform
                                                                                                           ExtremeDiversityTM

     The acquisition is subject to anti-trust clearance & should be completed by the end of Q1 2020.
11
2019 and mid-term guidance
                     Confirmed

               2019 financial targets                                                                                       Mid-term guidance updated*

  Revenue                       € 4.6 - 4.7 billion                                                            rEBITDA / revenue ratio of 31% in 2022*
     • Continued strong core product growth                                                                           UCB investing into the pipeline complemented
                                                                                                                      with inorganic growth opportunities

  rEBITDA                       27 – 29% of revenue                                                            Peak sales
     • R&D expense ratio of ~27% (+/-1% point)                                                                        • Neupro® ~ current (2018) level
  Core EPS                      € 4.40 – 4.80                                                                         • Vimpat® > € 1.4 billion by 2022
     • Tax ratio of ~20%
                                                                                                                      • Cimzia® > € 1.7 billion by 2024
                                                                                                                      • Briviact® > € 600 million by 2026

  rEBITDA: recurring Earnings Before Interest, Taxes, Depreciation and Amortization charge
  * The acquisition is subject to anti-trust clearance & should be completed by the end of Q1 2020. The acquisition of Ra Pharma will not impact UCB’s 2019 financial guidance. The acquisition would be dilutive to UCB’s
  mid-term earnings level due to additional planned R&D investments. As a result, the mid-term target of UCB reaching a REBITDA ratio (to revenue) of 31% would move to 2022 from 2021 as previously guided.
12

6 potential product launches in 5 years

                                                             Creating value for patients
                                                                    living with
                                                             post fracture osteoporosis
                                                              acute repetitive epilepsy
                                                                      seizures
                                                             psoriasis, psoriatic arthritis,
                                                                axial spondyloarthritis
                                                                    ITP, MG, CIDP
                                                                drug-resistant epilepsy
                                                            progressive supranuclear palsy

  ITP: Immune ThrombocytoPenia
  MG: Myasthenia Gravis
  CIDP: Chronic Inflammatory Demyelinating Polyneuropathy
Further facts
and figures
14
 UCB Story – since 1928
                                Continuous adaptation to the changing ecosystem

1928

                                                                                                         2004    Focus on biopharmaceuticals,
                                                                                                                a combination of large, antibody based                            • Evenity® (U.S., Japan &
                                                                                                             molecules and small, chemically-derived molecules
                                                                                                                                                                                    more)
                                                                                                             Acquisition of Celltech Group Ltd,
                                                                                                             a leading British biotechnology
                                                                         80’s                                company                                  2008                        • Cimzia® nr axSpA (U.S.)

                                                                           Globalization                     Divestiture of non-core business,                                    • Nayzilam® nasal spray
                                                                                                             starting with the films and chemical
  Emmanuel Janssen                                                         with acquisitions in the
                                                                                                             divisions, followed by primary                                         (U.S.)
         Union
  established                                                              U.S., Korea, Thailand
                                                                                                             care products                                                     2019
  Chimique Belge                  Stronger focus      on                   and Japan
  (UCB) in Brussels               research, resulting in the
  (Belgium), primarily            discovery in 1954 of one of the
  focusing on industrial          world’s first tranquillizers, Atarax®
  chemicals

                                                                                  1987                                    2006                                          2016

          Production primary care               1970’s - Development of
                                                                                                                                    Acquisition of Schwarz Pharma AG,
          products (calcium,                    a European network                                    2000                          based in Germany, bringing
          vitamins, insuline, etc.)             through acquisitions in
                                                France, Germany, Italy,                                                             complementary therapeutic and
          during World War II
                                                Spain and the U.K.                                                                  geographic focus

            The timeline is not proportionated.
            Evenity® is the trade name of romosozumab which has been provisionally approved by the European Medicines Agency (EMA)
            nr axSpA: non-radiographic axial spondyloarthritis
15
UCB's patient value strategy                                    We are UCB
                Sustainable company growth - Superior
                                                        We are 7 495 employees focused
                shareholder value
                                                          on creating value for patients

      Our ambition is to be the
                                                                We bring Cimzia®, Vimpat®,
   patient preferred biopharma                                  Keppra®, Briviact® & Neupro®
 leader, creating patient value for                             to more than
specific populations through unique                             3 340 000 patients
  outcomes, the best experience
                                                                Focused on R&D:
  and improving as many of these                                We invest more than
          lives as possible.                                    20% of revenue in R&D –
                                                                above industry average
We want to be present and impact
specific patient populations by                                 We commit to reducing our
              2025.                                             ecological footprint

                                                                We reached in 2018
                                                                € 4.6 billion revenue
                                                                € 1.4 billion recurring EBITDA,
                                                                both growing for the 5th year in
                                                                a row
16
Grow core products
                      Key information

                    Cimzia®                                          Vimpat®         Keppra®                Briviact®                Neupro®
     •   Crohn’s disease                                  Epilepsy POS          • Epilepsy POS         Epilepsy POS             • Parkinson’s
     •   Rheumatoid arthritis                             •    Adj. therapy     • Epilepsy PGTCS       •   Adj. therapy           disease
     •   Psoriatic arthritis                              •    Monotherapy      • Epilepsy myoclonic   •   Monotherapy (U.S.)   • Restless legs
                                                          •    Pediatric                               •   Pediatric (2018)
     •   Axial spondyloarthritis                                                  seizures                                        syndrome
     •   Psoriasis (2018)
     •   WOCBA label update (2018)
    > 121 000 patients,                                   > 591 000 patients,   ≈ 2.2 million          > 82 000 patients,       > 366 000 patients,
    across 56 countries                                   across 52 countries   patients,              across 28 countries      across 43 countries
                                                                                across the world

     Astellas (Japan - 2012)                              Daiichi Sankyo        Otsuka                                          Otsuka
     Cinkate (China – 2019)                               (Japan - 2014)        (Japan – 2008- 2020)                            (Japan – 2002)

    2024 (U.S. & EU)                                      2022 (U.S. & EU)      2008 (U.S.)            2026 (U.S. & EU)         2021 (U.S. & EU)
    2026 (Japan)                                          2024 (Japan)          2010 (EU)                                       2024 (Japan)
                                                                                2020 (Japan)                                    2030 Several
                                                                                                                                reformulation patents
                                                                                                                                (U.S. & EU)

   WOCBA: women of child bearing age
   POS: partial onset seizures, also known as focal seizures
   PGTCS: primary generalized tonic-clonic seizures
17
Grow core products
                      Lifecycle management

                   Cimzia®                                            Vimpat®                       Keppra®      Briviact®   Neupro®
     • Nr axSpA                                         • Epilepsy POS pediatric
         (U.S. – March)                                        (incl. dry syrup formulation -
    • Rheumatoid arthritis                                     Japan - Jan)
         (China - July)

     • Psoriasis / psoriatic                            • Epilepsy POS (China):                 • Epilepsy
       arthritis (Japan – Jan)                            o pediatric (incl. oral                 monotherapy
                                                             formulation – Sept 2018)             (U.S. – Feb)
                                                          o IV formulation (Sept
                                                                  2018)

                                                        • PGTCS: Positive Phase 3
                                                          results (July 2019)

   Nr axSpA: non radiographic axial spondyloarthritis
   POS: partial onset seizures, also known as focal seizures
   PGTCS: primary generalized tonic-clonic seizures
18
Cimzia®
                        Driven by new patient populations: women of child
                        bearing age and people living with psoriasis

                                                                                                                        Net sales1                               H1 2019 / H1 2018

                                                                                                                                                       2019
                                        € million                                2015 FY           2016 FY           2017 FY          2018 FY                        Act   CER
                                                                                                                                                     6 months
For patients (including women
of child bearing age) living with       U.S.                                           713              846               918                896          480        15%    8%
• Rheumatoid arthritis
                                        Europe                                         296              339               370                400          208         8%    8%
• Psoriatic arthritis
• Psoriasis                             International markets                            74              118              136                150           94        31% 32%
• Axial spondyloarthritis
                                        Total Cimzia®                             1 083              1 304             1 424            1 446             782        15% 10%
• Crohn’s disease

                                                2019                                                   2024                                 2026

                                                     Psoriasis / psoriatic arthritis:                    • Loss of exclusivity              • Loss of exclusivity
                                                       filing (Japan)                                       (U.S. & EU)                        (Japan)
                                                     Nr axial spondyloarthritis²:
                                                       approval (U.S.)
                                                     Rheumatoid arthritis:
                                                       approval (China)

       1 Numbers may not add due to rounding                                         2 nr axSpA: non-radiographic axial spondyloarthritis
         CER: constant exchange rates
19

       Cimzia®                        in-market performance

                                U.S.                                                                          Europe                                                                         Japan
        Cimzia® vs. Rheumatology                                                               Cimzia® vs. Rheumatology                                                         Cimzia® vs. RA Market
            Market Growth 1                                                                        Market Growth 1                                                                    Growth 1
                                                                                                                                                                 10%
10%                                                                                10%
                                                                                                                     8.0%                                         8%
 8%                                                                                 8%
                                                                                                6.4%
 6%
                                                     5.6%                           6%                                                4.9%                        6%                                     +3.0%
                                  5.0%
 4%                                                                                 4%                                                                            4%                                               2.7%
                                           +6.6%                                                                             -1.5%
 2%                                                                                 2%                                                                            2%                            0.8%
                                                                                                                                                                             -0.3%
 0%         -1.0%                                                                   0%                                                                            0%
-2%        Anti TNF            Biologics           Cimzia®                         -2%        Anti TNF             Biologics         Cimzia®                                Anti TNF          Biologics          Cimzia®
                                                                                                                                                                 -2%

          Cimzia® Rheumatology                                                            Cimzia® Rheumatology                                                              Cimzia® RA
7.5%      R3M Patient Share 2                                                     9.0%
                                                                                          R3M Patient Share 2                                                   5.0%        R3M Patient Share 2
                                                              7.0%
7.0%                                                                              8.5%
                                                                                                                                               8.0%             4.5%                                                        4.3%
                                               +0.5%
6.5%                                                                              8.0%                                                                          4.0%                                          0.0%
                                                                                                                                     -0.2%
6.0%                                                                              7.5%                                                                          3.5%
  Apr-18         Jul-18         Oct-18         Jan-19        Apr-19                 May-18          Aug-18         Nov-18       Feb-19         May-19              Dec-17           Mar-18     Jun-18        Sep-18        Dec-18
                                                                                Source: IMS MIDAS                                                               Source: IMS MIDAS; Cimzia® patients are considered 100% in RA
Source: U.S: IQVIA Source of Business Report                                    In-Market KPI’s are based on Exit Patients                                      In-Market KPI’s are based on Exit Patients

                1 In-market growth is calculated for MAT period: Europe & Japan : MAT May 2019 vs MAT May 2018 | U.S.: MAT April 2019 vs. MAT April 2018 (patients, all channels)
                2 Market share is calculated for R3M period
20
Vimpat®
                       Strong, sustainable growth in all markets

                                                                                                                        Net sales1                                 H1 2019 / H1 2018
                                                                                                                                                     2019
                                       € million                                 2015 FY        2016 FY           2017 FY           2018 FY                        Act       CER
                                                                                                                                                   6 months
For patients living with               U.S.                                         513               629              746               822            472          22%         14%
• Epilepsy –   POS2
                                       Europe                                       134               152              177               206            111          11%         11%
• Adults, adolescents and
  children from 4 years of             International markets                          32                42                53                70            39         10%          6%
  age (EU, U.S. & Japan)
                                       Total Vimpat®                                679               822              976            1 099             622          19%         13%

                                              2019                                                 2022                                          2024

                                                    POS2 pediatric:                                 • Patent expiry                               • Loss of exclusivity
                                                      approval (Japan)                                 (U.S. & EU)                                   (Japan)
                                                    PGTCS3:
                                                      positive Phase 3 results

      1 Numbers may not add due to rounding                                        2 POS: Partial-onset seizures, also known as focal seizures
        CER: constant exchange rate                                                3 PGTCS: Primary Generalized Tonic-Clonic Seizures
21

    Vimpat®                           in-market performance

                                U.S.                                                                      Europe                                                                   Japan
                                                                                                                                                       95%    Vimpat®      vs. AED Market Growth (TDx)
            Vimpat® vs. AED Market Growth (TRx)                                        Vimpat® vs. AED Market Growth (TDx)                                                                            91.0%
 20%                                                                           20%
                                                                                                                                                       90%
                                                                                                                             16.6%
 15%                                                                           15%
                                 +7.5%                                                                                                                 85%
                                                8.7%                                                                                                   10%                               +87%
 10%                                                                           10%
                                                                                                             +18.0%
   5%                                                                            5%                                                                     5%
                                                                                                                                                                         4.0%
                                                                                                  -1.4%
                    1.2%
   0%                                                                            0%
                                                                                                                                                        0%
               AED Market                      Vimpat®                                       AED Market                     Vimpat®                                  AED Market                      Vimpat®
  -5%                                                                           -5%

                                                                                         Vimpat® – R3M TDx Share                                                Vimpat® – R3M TDx Share
 5.0%       Vimpat® – R3M TRx Share                                            5.0%                                                                   3.0%

                                                                                                                                             4.3%                                                                    2.4%
 4.5%                                                                          4.5%                                                                   2.5%
                                                             4.1%
 4.0%                                                                          4.0%                                                                   2.0%

 3.5%                                         +0.3%                            3.5%                                          +0.4%                    1.5%                                           +0.6%
 3.0%                                                                          3.0%                                                                   1.0%
    May-18         Aug-18        Nov-18        Feb-19        May-19               May-18         Aug-18        Nov-18         Feb-19         May-19      May-18         Aug-18         Nov-18         Feb-19         May-19

Source data U.S.: U.S. IMS NPA - In-Market KPIs are based on TRx              Source data EU: IMS MIDAS - In-Market KPI’s are based on TDx            Source data JP: IMS MIDAS - In-market KPI’s are based on TDx

               AED market: All molecules in ATC3= N3A + Phenobarbital in N5B. In Europe and Japan, the TDx of all these molecules
               are factored for epilepsy usage. In the U.S., the TRx of 26 of these molecules are factored for epilepsy usage.
22
Keppra®
                       Mature, established brand

                                                                                                                        Net sales1
                                                                                                                                                           H1 2019 / H1 2018
                                                                                                                                                  2019
                                       € million                              2015 FY           2016 FY           2017 FY             2018 FY              Act        CER
                                                                                                                                                6 months
For patients living with
                                       U.S.                                         254               216              232              221        103         4%        -3%
• Epilepsy – POS
• Epilepsy – PGTCS                     Europe                                       250               237              235              216         84      -26%        -26%
• Epilepsy myoclonic
  seizures
                                       International markets                        233               267               311             352        184         2%         1%

                                       Total Keppra®                                737               720              778              790        371        -5%        -8%

                                                   2019                                             2020

                                                     Epilepsy monotherapy:                            • Loss of exclusivity
                                                          filing (U.S.)                                  (Japan)

      1 Numbers may not add due to rounding                               POS: Partial-onset seizures, also known as focal seizures
        CER: constant exchange rate                                       PGTCS: Primary Generalized Tonic-Clonic Seizures
23

    Keppra®                            in-market performance

                                U.S.                                                                       Europe                                                                   Japan
            Keppra® vs. AED Market Growth (TRx)                                       Keppra® vs. AED Market Growth (TDx)                                       Keppra® vs. AED Market Growth (TDx)
   5%                                                                          5%                                                                       25%
                    1.2%
                                                                                                                                                        20%                                              18.7%
   0%                                                                          0%
                                                                                                                                                        15%
  -5%                           -11.5%                                         -5%
                                                                                                -1.4%
                                                                                                                                                                                        +14.7%
                                                                                                                             -3.9%                      10%
 -10%                                                                        -10%                             -2.5%                                                        4.0%
                                                                                                                                                         5%
                                               -10.3%
 -15%                                                                        -15%                                                                        0%
               AED Market                      Keppra®                                      AED Market                     Keppra®                                     AED Market                      Keppra®

                                                                                         Keppra® – R3M TDx Share                                                 Keppra® – R3M TDx Share
 2.5%       Keppra® – R3M TRx Share                                            13.5%                                                                   20.0%                                                          19.4%
 2.0%                                                                          13.0%                                                                   19.0%

 1.5%                                                                          12.5%                                                          12.1%    18.0%

 1.0%                                                        0.6%              12.0%                                                                   17.0%
                                                                                                                              -0.3%                                                                   +3.3%
 0.5%                                                                          11.5%                                                                   16.0%

 0.0%                                                                          11.0%                                                                   15.0%
    May-18         Aug-18        Nov-18        Feb-19        May-19                May-18         Aug-18        Nov-18         Feb-19         May-19       May-18         Aug-18         Nov-18        Feb-19         May-19

Source data U.S.: U.S. IMS NPA - In-Market KPIs are based on TRx               Source data EU: IMS MIDAS - In-Market KPI’s are based on TDx            Source data JP: IMS MIDAS - In-market KPI’s are based on TDx

               AED market: All molecules in ATC3= N3A + Phenobarbital in N5B. In Europe and Japan, the TDx of all these molecules are
               factored for epilepsy usage. In the U.S., the TRx of 26 of these molecules are factored for epilepsy usage.
24
Briviact®
                       Available to more and more patients

                                                                                                                 Net sales1
                                                                                                                                                      H1 2019 / H1 2018
                                                                                                                                        2019
For patients living with               € million                         2015 FY           2016 FY           2017 FY          2018 FY                 Act        CER
                                                                                                                                      6 months
• Epilepsy –   POS2
                                       U.S.                                                        11               63            109          81      76%         65%
• Adults, adolescents and
  children from 4 years of             Europe                                                        7              22            29           19      55%         55%
  age (EU & U.S.)
                                       International markets                                         0                 1           4            3 > 100% > 100%
                                                          ®
                                       Total Briviact                                             18                87            142          103     73%         64%

                                                   2021                                                                                 2026

                                                    • Epilepsy POS2                                                                      • Patent expiry
                                                      Phase 3 results (Japan)                                                              (U.S. & EU)

      1 Numbers may not add due to rounding                         2 POS: Partial-onset seizures, also known as focal seizures
        CER: constant exchange rate
25
Briviact®                  in-market performance
                     A new therapeutic option in the AED market

                                                          U.S.                                                                       Europe

                                                                                                                     Briviact® – R3M TDx Share
                                             Briviact® – R3M TRx Share                                                                                        1.00%
                        1.00%                                                                          1.00%

                        0.80%                                                                          0.80%
                                                                                                                                                     +0.4%
                        0.60%                                                                          0.60%

                                                                                        0.37%
                        0.40%                                                                          0.40%

                        0.20%                                                                          0.20%
                                                                           +0.1%
                        0.00%                                                                          0.00%
                            May-18           Aug-18         Nov-18         Feb-19         May-19           May-18          Aug-18           Nov-18   Feb-19   May-19

                        Source data U.S.: U.S. IMS NPA                                                   Source data EU: IMS MIDAS
                        In-Market KPIs are based on TRx                                                  In-Market KPI’s are based on TDx

  AED market: All molecules in ATC3= N3A + Phenobarbital in N5B. In EU, the TDx of all these molecules are factored for
  epilepsy usage. In the U.S., the TRx of 26 of these molecules are factored for epilepsy usage.
26
Neupro®
                       At its peak sales and with longer patent live

                                                                                              Net sales1
                                                                                                                  2019
                                        € million                     2015 FY   2016 FY     2017 FY   2018 FY                Act     CER
                                                                                                                6 months
For people living with
• Parkinson’s disease
                                        U.S.                              79          85        96      101          46       13%     5%
• Restless legs syndrome                Europe                          150         161       168       174          83        -3%    -3%

                                        International markets             29          52        50        46         29       36%     31%

                                        Total Neupro®                   258         298       314       321         158         7%    4%

                                               2021                     2024                             2030

                                                    • Patent expiry       • Patent expiry                 • Several reformulation
                                                      (U.S. & EU)           (Japan)                         patents expiry
                                                                                                            (U.S. & EU)

      1 Numbers may not add due to rounding
        CER: constant exchange rate
27

    Neupro®                            in-market performance

                                U.S.                                                                         Europe                                                                            Japan
         Neupro® PD vs. PD (KC)                                                         Neupro® vs. (KC)                                                                  Neupro® PD vs. PD (KC)
 20%      Market Growth (TRx)                                                  20%
                                                                                       Market Growth (TDx)                                                        20%      Market Growth (TDx)                          16.3%
 15%                                                                           15%                                                                                15%
 10%                                                                                                                     +1.2%
                                           -0.9%                               10%                                                                                10%
   5%                                                                                                                                                                                                        +16.4%
               0.2%                                                              5%          2.4%                1.1%               2.3%                            5%
   0%                                                                                                                                                                           0.8%
  -5%                                                                            0%                                                                                 0%
                                                                                          PD Market            PD key             Neupro®                                                           -0.1%
 -10%                             -5.6%              -6.5%                      -5%                                                                                -5%
                                                                                                             competitors
            PD market           PD key              Neupro®                                                                                                                  PD Market             PD key             Neupro®
                              competitors                                                                                                                                                        competitors
                                                                                           Neupro® PD – R3M TDx Share                                                      Neupro® PD – R3M TDx Share
10.5%       Neupro® PD – R3M TRx Share                                          16.5%                                                                            38.0%
                                                                                                                                                                                                                                36.8%
                                                                                                                                               16.1%
10.0%                                                        9.8%               16.0%                                                                            36.0%

 9.5%                                         -0.2%                             15.5%                                           +0.2%                            34.0%                                          +3.5%

 9.0%                                                                           15.0%                                                                            32.0%
    May-18         Aug-18        Nov-18        Feb-19        May-19                 May-18          Aug-18        Nov-18         Feb-19        May-19                May-18          Aug-18        Nov-18         Feb-19        May-19

Source data U.S.: U.S. IMS NPA - In-Market KPIs are based on TRx                Source data EU: IMS MIDAS - In-Market KPI’s are based on TDx                     Source data JP: IMS MIDAS - In-market KPI’s are based on TDx

               PD market: All molecules in ATC3= N4A. In the Europe and Japan, the TDx of all these molecules are factored for PD usage. In the US, only the TRx of Rotigotine, Pramipexole and Ropinirole are factored for PD usage
               PD Key Competitors (KC) market: The 8 DA’s (Dopamine Antagonists): Bromocriptine, Cabergoline, Lisuride, Pergolide, Rotigotine, Pramipexole, Piribedil, Ropinirole
               In the U.S., only Rotigotine, Pramipexole and Ropinirole are factored for PD usage, hence the PD market and PD KC market are the same.
28
Evenity®                       (romosozumab) in post fracture osteoporosis
                            An innovative bone-forming therapy under regulatory review

                                                                       Dual effect on bone: increases bone formation and
                                                                                            decreases bone resorption

                                                                              Opportunity to build new bone and slow bone loss in
                                                                              osteoporosis patients at imminent risk of fragility fractures

                                                                                 ARCH, FRAME, BRIDGE and STRUCTURE
                                                                                 • Phase 3 studies completed
Manorama,
living with
osteoporosis

                                                                          Launch in the U.S., Japan, Australia, Canada & South Korea
                                                                          • CHMP positive opinion (EU – Oct 2019)
                                                                          • Under review in other markets

          The trademark Evenity™ is provisionally approved for use by the European Medicines Agency (EMA).
          Evenity™ (romosozumab) is developed in partnership with Amgen globally.
29
    Bimekizumab Phase 3 development program in psoriasis
                               3 trials against active comparators designed to demonstrate
                               superiority
                                Phase 3                                         Phase 3                                Phase 3                 Phase 3b
                        BE VIVID / PS0009                                  BE SURE / PS0008                   BE READY / PS0013          BE RADIANT / PS0015
                            NCT03370133                                      NCT03412747                            NCT03410992              NCT03536884

                   • 560 patients living with                           • 450 patients living with        • 400 patients living with    • 700 patients living with
                     psoriasis1                                           psoriasis1                        psoriasis1                    psoriasis1

 Duration          • 52 weeks                                           • 56 weeks                        • 56 weeks                    • 48 weeks

Comparator         • ustekinumab                                        • adalimumab                      • placebo                     • secukinumab
                   • placebo
 Primary
endpoints          • PASI90 response                                    • PASI90 response                 • PASI90 response             • PASI100 response
@ week 16          • IGA 0/1 response                                   • IGA 0/1 response                • IGA 0/1 response

                  Positive topline results                                  Start Jan. 2018                     Start Feb. 2018           Start June 2018
                         (Oct 2019)
                                                                          Results: Q4 2019                    Results: Q4 2019           Results: Q2 2020

            1 moderate to severe chronic plaque psoriasis                                       IGA: Investigator's Global Assessment
            PASI90: Patients experiencing at least 90% skin clearance                           Source: www.clinicaltrial.gov
            PASI100: Patients experiencing 100% skin clearance
30
Bimekizumab: ambition to deliver best efficacy in skin
                          Psoriasis Phase 3 trials designed to demonstrate superiority

                          week                                      16          20   24   28    32   36   40   44   48   52   56
BE SURE                 bimekizumab                                        bimekizumab
NCT03412747             bimekizumab                                        bimekizumab
PS0008                  adalimumab                                         adalimumab bimekizumab
450 patients
                                                                                                                                     Phase 3 trials
BE VIVID                placebo                                            bimekizumab                                             Primary endpoints:
NCT03370133             bimekizumab                                        bimekizumab                                                 • PASI90
PS0009                  ustekinumab                                        ustekinumab
560 patients
                                                                                                                                       • IGA 0/1

BE READY                placebo                                            placebo
                                                                           bimekizumab
                                                                                                                                   Results Q4 2019
NCT03410992
PS0013                  bimekizumab                                        bimekizumab
400 patients                                                               placebo

                          week                                      16         20    24   28    32   36   40   44   48               Phase 3b trial
BE RADIANT              bimekizumab                                        bimekizumab
NCT03536884                                                                                                                        Primary endpoint:
                                                                           bimekizumab
PS0015                                                                                                                                • PASI100
700 patients            secukinumab                                        secukinumab
                                                                                                                                   Results Q2 2020

     Different colors for bimekizumab indicate different dosing regimens
     IGA: Investigator's Global Assessment
31

Psoriasis affects a significant portion of the population

                                             Prevalence1                                   Age2,3

                                                                                                          Late teens–early                  Fifties
                                                                                                                                                                         Age, geographic
                                                                                                          thirties                          (type 2 PSO)                 region, and ethnicity
                                                                                                          (type 1 PSO)
                                                                                                                                                                         all influence
                                                                                                                                                                         an individual’s risk
                                                                                                                                                                         of developing PSO
                                                         45% 55%                                                       Two peaks of incidence

                                             Ethnicity                                     Geographic region
                                             PSO more commonly                             Reported prevalence in adults:
up to                                        affects Caucasians than
                                                                                               Japan6                                     UK4            Brazil7       Italy4           France4            Norway4

    3%
                                             other ethnic groups4                                                    USA4

~                                            Prevalence according to
                                             ethnicity in the USA5 :
                                             Caucasian

                                                                          American

of the population8
                                                                           African

is affected by PSO                                       2.5%                                  0.34%               0.91%                2.2%             2.5%          3.1%              5.2%                8.5%
                                                                1.3%
                                                                                           Prevalence generally increases with increasing distance from the equator2

     1. Kimball AB et al. Br J Dermatol. 2014;171(1):137-147.                             4. Parisi R et al. J Invest Dermatol. 2013;133(2):377-385.                7. Duarte GV et al. Psoriasis( Auckl). 2015;5:55-64
     2. Crow JM. Nature. 2012;492(7429):S50-S51.                                          5. Enamandram M and Kimball AB. J Invest Dermatol. 2013;133(2):287-289.   8. Parisi R, et al. J Invest Dermatol. 2013;133:377-385.
     3. Langley RG et al. Ann Rheum Dis. 2005;64:(suppl 2):ii18-23; discussion ii24-25.   6. Kubota K et al. BMJ Open. 2015 Jan 14;5(1):e006450.                     UCB CONFIDENTIAL. For restricted/internal communications only.
32

Bimekizumab – best in disease efficacy in skin and joints
                          Phase 3 programs started Q2 2019
                                                                              Psoriatic arthritis
                            week                                      16                                                                                            52
BE OPTIMAL                bimekizumab                                      bimekizumab
NCT03895203               adalimumab                                       adalimumab
                                                                                                                                                                          Primary endpoint
PA0010                    placebo                                          bimekizumab                                                                                   ACR50 @ week 16
840 patients
                                                                                                                                                                          Results end 2021
BE COMPLETE
NCT03896581               bimekizumab
PA0011                    placebo
390 patients
                                                                      Axial Spondyloarthritis
                             week                                     16                                                                                            52
BE MOBILE1
NCT03928704                 bimekizumab                                      bimekizumab
                            placebo                                          bimekizumab
                                                                                                                                                                          Primary endpoint
AS0010
                                                                                                                                                                         ASAS40 @ week 16
240 patients
BE MOBILE2                                                                                                                                                               Results end 2021
NCT03928743                 bimekizumab                                      bimekizumab
AS0011                      placebo                                          bimekizumab
300 patients
       BE MOBILE1: to assess the efficacy, safety and tolerability of bimekizumab versus placebo in patients with active non-radiographic axial spondyloarthritis
       BE MOBILE 2: to assess the efficacy, safety and tolerability of bimekizumab versus placebo in patients with active ankylosing spondylitis
33

    Padsevonil Phase 2 program in drug-resistant focal epilepsy
                                Patients with high unmet medical need

                                       Phase 2a                                                       Phase 2b                                Phase 3
                            EP0069 / NCT02495844                                           ARISE / EP0091 / NCT03373383           DUET / EP0092 / NCT03739840
                   • 55 patients with highly drug-                                       • 400 patients with drug-resistant      • 500 patients with drug-resistant
                     resistant focal epilepsy                                              focal epilepsy                          focal epilepsy
                      • failed with ≥4 AED                                                  • failed with ≥ 4 AED                   • failed with ≥ 4 AED
                      • experiencing ≥4 seizures / week                                     • experiencing ≥4 seizures / month      • experiencing ≥4 seizures / month

Comparator         • padsevonil / placebo (2 arms)                                       • padsevonil / placebo (5 arms)         • padsevonil / placebo (4 arms)

Endpoints          • 75 % responder rate*                                                • Seizure frequency                     • Seizure frequency
                         31% padsevonil                                                     • from baseline over the 12 week        • from baseline over the 12 week
                         11% placebo                                                          maintenance period (U.S., Japan)        maintenance period (U.S., Japan)
                                                                                            • 75% responder rate* (EU)              • 75% responder rate* (EU)

                                      AES 2017                                                 Topline results H1 2020            Topline results H2 2021

             * Proportion of subjects who achieve ≥75 % reduction in focal seizure frequency
34
Rozanolixizumab potential in multiple IgG autoantibody-
mediated diseases with high unmet medical need
                         Myasthenia gravis               Immune thrombocytopenia                   Chronic inflammatory
                                                                                                demyelinating polyneuropathy
            Antibodies target components of          Antibodies target platelets and        Antibodies target components of
            neuromuscular junction                   destroy them                           peripheral nerves, causing damage to
                                                                                            the myelin sheath and axon
            • Muscle weakness (extremities,          • Thrombocytopenia                     • Motor deficits
              eyes, bulbar and respiratory           • Bleeding (petechiae, purpura,        • Sensory deficits
              symptoms)                                nosebleeds, intracranial bleeding)
            • Fatigue                                • Fatigue

            ~ 10 - 45 cases / 100 000                ~ 10 - 50 cases / 100 000              ~ 1 - 6 cases / 100 000

            •      Surgery (thymectomy)              •    Platelet transfusion              •     IV Steroids
            •      Steroids, steroid-sparing drugs   •    IV immunoglobulin (IVIg)          •     IV / subQ immunoglobulin
            •      Plasma exchange (PEX)             •    Steroids                          •     Plasma exchange (PEX)
            •      IV immunoglobulin (IVIg)          •    Surgery (splenectomy)
                                                     •    TPO receptor agonists

 Current therapies associated with morbidity and burdensome to patients & healthcare systems

   IV: Intravenous
   subQ: sub-cutaneous
   TPO: thrombopoietin
35
Rozanolixizumab, novel targeted approach recycling IgG
                    Transforming disease control and ecosystem burden

            blocks FcRn receptors binding                                               Proof of       Confirmatory
            plasma IgG                                                                  concept          phase

            resulting in the attenuation of IgG recycling,
            and thus removal of IgG autoantibodies
                                                                myasthenia gravis
                                                                (MG)                                 Topline results
                                                                                                        H1 2021

             patients living with IgG-mediated                  immune
             autoimmune disease                                 thrombocytopenia
                                                                (ITP)
                                                                                                        Start
                                                                                                        Q4 2019
             Chronic diseases with unpredictable fluctuations
             and high treatment-associated burden (hospital                         Topline results
                                                                CIDP3
             setting, invasive)                                                       H1 2021

                                           Value proposition:
                 Providing a patient-focused solution with a quick home SubQ1 delivery

  1 SubQ: subcutaneous
  2 IgG: Immunoglobulin G
  3 Chronic Inflammatory Demyelinating Polyneuropathy
36
     Rozanolixizumab SubQ treatment for IgG-mediated diseases
                              Proof of concept established in MG & ITP
                              Moving to confirmatory phase

                                    CIDP                                     Myasthenia gravis
                                                                                                                      Immune thrombocytopenia
                                (NCT03861481)                                        (NCT03971422)
                                                                       240 patients with moderate to severe MG
                  34 patients with Chronic
                  Inflammatory Demyelinating                             • diagnosis of MG @ screening
                  Polyneuropathy                                         • be considered for treatment with
                                                                           immunological therapy

 Duration         12 weeks                                             43 days

Comparator        placebo (2 arms)                                     placebo (3 arms)

Endpoints         Clinical change from base line                       Change from baseline in Myasthenia Gravis-
                  Safety and tolerability                              Activities of Daily Living (MG-ADL) score to
                                                                       Visit 10

                          Phase 2a                                      Confirmatory phase/Phase 3                    Confirmatory phase/Phase 3
                   Topline results H1 2021                                Topline results H1 2021                           to start Q4 2019

             subQ: sub-cutaneous
             IgG: immunoglobulin
             CIDP: Chronic Inflammatory Demyelinating Polyneuropathy
37
Positive Phase 1 - UCB0107, an anti-Tau antibody for
Progressive Supranuclear Palsy & Alzheimer’s disease

 Key facts                                 Key insights

 UCB0107 blocks tau uptake and
         aggregation                       UCB0107 was generated       Tau seeds spread from dying cells
                                           to block spreading of tau        to infect other neurons
• Tau misfolding and aggregation
  leads to neuronal death and                 seeds from patient
  disease spread                                   materials

                                            AD
• PSP is a rare, rapidly progressing
  tauopathy with debilitating               PSP
  cognitive & motor symptoms

• Alzheimer’s disease is also a                                         Tau seed
  tauopathy, with high prevalence
  and economic impact

     Source: UCB internal data
     PSP: Progressive Supranuclear Palsy
38
2019 HY financial highlights
                       Strong product growth and investment into future growth
                                                                               Actual   CER

Revenue                                                      € 2 323 million    +2%     +4%
  • Net sales up by 3% (+2% CER) to € 2.2 billion
    driven by core products, impacted by hedging and
    divestitures
Total operating expenses                                     € 1 154 million   +11%     +8%
  • Marketing & selling expense +14%
    Cimzia® launch in psoriasis & nr axSpA
  • R&D expense +13% (ratio 24%)
                                                                                -9%     -1%
    4 Phase 3 programs started
Recurring EBITDA                                              € 724 million
  • rEBITDA/revenue ratio 31%

Profit of the Group                                           € 437 million     -24%    -14%

  • Tax ratio 20%
  • € 411 million attributable to UCB shareholders
                                                                                -22%    -12%
Core earnings per share                                              € 2.42
  Based on 187 million weighted average shares outstanding
  (2018: 188 million)

    CER: constant exchange rates
    Nr axSpA: non radiographic axial spondyloarthritis
39
Strong underlying net sales growth
                     Strong performance of UCB's blockbusters: Cimzia® and Vimpat®

                                                                                                           Act   (CER)

                                                               Cimzia®      € 782 million             +15% (+10%)
                                                               Driven by new patient populations

                                                               Vimpat®      € 622 million             +19% (+13%)
                                                               Strong, sustainable growth in all markets

                                                               Keppra®      € 371 million                  -5%   (-8%)
                           2019 HY net                sales1
                                                               Mature established brand
                             € 2 270 million
                            +9% (+5% CER)                      Briviact®    € 103 million             +73% (+64%)
                                                               Reaching more and more patients

                                                               Neupro®      € 158 million                +7% (+4%)
                                                               Growth in the U.S. and Int’l markets

                                                               Established brands € 233 million -17% (-17%)
                                                               Impacted by divestitures: adjusted: -0%

  CER = constant currency exchange rates
  1 Net sales excluding - € 51 million from hedging
40

Recurring EBITDA

  Numbers may not add due to rounding   EBIT: Earnings before interest and taxes
  CER: constant exchange rate           EBITDA: Earning before interests, taxes, depreciation and amortization
  charges
41

Profit

   Numbers may not add due to rounding
   CER: constant exchange rate
   EBIT: Earnings before interest and taxes
42

Core earnings per share

  Numbers may not add due to rounding
  CER: constant exchange rate
43

Key product net sales performance

  Numbers may not add due to rounding
  CER: constant exchange rate
44

Strong Cash Flows (HY 2019)

              Cash flow from continuing operations               Net debt

                                                     € million
€ million

            CAGR: composite annual growth rate
45

Debt maturity schedule (@ 30 June 2019)
46
One UCB today: A global player
                     Presence in 38 countries
                     complemented by a robust network of partners

                                            50/50
                                            Women / Men

              7 498                          564
    UCB employees worldwide
                                                New
                                             colleagues

  Situation at 30 June 2019
47
Green strategy @ UCB
                    UCB environmental commitments by 2030

              CO2 emissions                                            -35%

              Water consumption -20%

              Waste production                                         -25%

  More information on https://www.ucb.com/our-company/green-strategy
48
Corporate governance
                         Board of Directors

•   13 members
    •     Mandate: 4 year

    •     Age limit: 70

•   5 women (38%)
•   7 independent directors (54%)
•   5 nationalities
                                              ● Women   ● Men   ● Belgium     ● France
                                                                ● U.K.        ● U.S.
                                                                ● Denmark / Sweden

        Status post 2019 AGM
49
Corporate governance
                       Executive Committee

•   12 members
    • JC Tellier CEO since 2015

•   3 women (23%)
•   6 nationalities

                                         ● Women   ● Men
                                                           ● Belgium       ● France
                                                           ● Germany       ● Netherlands
                                                           ● U.K. / South Africa
                                                           ● U.S.

    Status at 30 June 2019
50
Stable shareholder base with free-float of 62%
                     Weighted average shares outstanding in 2019: 187 million

                                                                                                “Free float”
                                                                                                 by region

   Source: Latest notifications, FactSet and UCB underlying ownership analysis (October 2018)
51
UCB Investor Relations team

•   Antje Witte                                    Check out our IR App &
    Vice President Investor Relations
                                            stay tuned to UCB wherever you go!
    Phone: +32 2 559 9414
    E-mail: antje.witte@ucb.com

•   Isabelle Ghellynck
    Associate Director Investor Relations
    Phone: +32 2 559 9588
    E-mail: isabelle.ghellynck@ucb.com

•   Nathalie Deldime
    Investor Relations Events Manager
    Phone: +32 2 559 9291
    E-mail: nathalie.deldime@ucb.com
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