Lundbeck held its Annual General Meeting on 20 March 2024 at the company's registered office

Valby, Denmark, 20 March 2024 - H. Lundbeck A/S (Lundbeck) announced today that the report by the Board of Directors was adopted and the annual report was approved at the annual general meeting.
 

The Annual Report 2023 was adopted. The proposal to distribute a dividend of 30% of the net profit for the accounting year 2023, corresponding to DKK 0.70 per share, or a total dividend of DKK 697 million, was adopted.

The Remuneration Report for 2023 was approved in the advisory vote.

Lars Søren Rasmussen, Lene Skole-Sørensen, Lars Erik Holmqvist, Jeffrey Berkowitz, Santiago Arroyo, Dorothea Wenzel and Jakob Riis were re-elected to the Board of Directors.
 

The Board of Directors of Lundbeck will hereafter comprise:

**                             Lars Søren Rasmussen (Chair)

**                             Lene Skole-Sørensen (Deputy Chair)

**                             Lars Erik Holmqvist

**                             Jeffrey Berkowitz

**                             Santiago Arroyo

**                             Dorothea Wenzel

**                             Jakob Riis

**                             Hossein Armandi (employee representative)

**                             Dorte Clausen (employee representative)

**                             Lasse Skibsbye (employee representative)

**                             Camilla Gram Andersson (employee representative)
 

Immediately after the general meeting, the Board of Directors elected Lars Søren Rasmussen as Chair and Lene Skole-Sørensen as Deputy Chair of the Board of Directors. After having elected its Chair and Deputy Chair, the Board of Directors appointed the members of the Audit Committee, the Remuneration and Nomination Committee and the Scientific Committee. 

Dorothea Wenzel (chair), Lars Søren Rasmussen and Lars Erik Holmqvist were elected as members of the Audit Committee. Lars Søren Rasmussen (chair), Lene Skole-Sørensen and Jeffrey Berkowitz were elected as members of the Remuneration and Nomination Committee. Santiago Arroyo (chair), Lene Skole-Sørensen, Jeffrey Berkowitz and Jakob Riis were elected as members of the Scientific Committee.

The general meeting approved the remuneration for the Board of Directors for the year 2024.

PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab was re-elected as the company's auditor, which for 2024 will include the task of auditing the company's sustainability reporting. 

The proposal to grant the Board of Directors authorization until the next annual general meeting to let the company acquire treasury shares of a total nominal value of up to 10% of the share capital, was adopted. The purchase price for the relevant shares may not deviate by more than 10% from the price quoted on NASDAQ Copenhagen A/S at the time of the acquisition. 

The proposal from the Board of Directors to update the indemnification scheme for the Board of Directors, based on the terms and conditions set out in item 8.2 of the notice to convene the Annual General Meeting 2024, was adopted.

The proposal from the Board of Directors to amend the Articles of Association to reflect the adoption of the updated indemnification scheme for the Board of Directors by adopting a new Article 5.6 to the Articles of Association, was adopted.

The proposal from the Board of Directors to amend the Remuneration Policy for the Board of Directors and the Executive Management to reflect the adoption of the updated indemnification scheme for the Board of Directors, was adopted.

The proposal from shareholder, Kjeld Beyer, that shareholders attending the general meeting in person should not be treated less favorably than the company's headquarter-based employees in terms of meals after the general meeting, was not adopted.

The Chair of the general meeting was authorized to file for registration of the resolutions passed at the general meeting with the Danish Business Authority.

No other business was on the agenda at the annual general meeting.

The Board of Directors.


 

Lundbeck contacts

About H. Lundbeck A/S

Lundbeck is a biopharmaceutical company focused exclusively on neuroscience, with more than 70 years of experience in improving the lives of people with neurological and psychiatric diseases. As a focused innovator, we strive for our research and development programs to tackle some of the most complex challenges. We develop transformative medicines targeting people for whom there are few, if any, treatment options. Our goal is to create long term value and make a positive contribution to people and societies, everywhere we operate. We are committed to fighting stigma and discrimination, and we act to improve health equity for the people we

serve and the communities we are part of.

For additional information, we encourage you to visit our corporate site www.lundbeck.com and connect with us via LinkedIn.

Safe Harbor/Forward-Looking Statements

This corporate release contains forward-looking statements that provide our expectations or forecasts of future events such as new product introductions, product approvals and financial performance. Forward looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words like "believe", "anticipate", "expect", "estimate", "intend", "plan", "project", "will be", "will continue", "will result", "could", "may", "might", or any variations of such words or other words with similar meanings. All statements other than statements of historical facts included in this presentation, including, without limitation, those regarding our financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to our products), are forward looking statements.

Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Factors that may affect future results include, among others, interest rate and currency exchange rate fluctuations, delay or failure of development projects, production or distribution problems, unexpected contract breaches or terminations, government-mandated or market-driven price decreases for Lundbeck's products, introduction of competing products, Lundbeck's ability to successfully market both new and existing products, exposure to product liability and other lawsuits, changes in reimbursement rules and governmental laws and related interpretation thereof, and unexpected growth in costs and expenses.

The forward-looking statements in this document and oral presentations made on behalf of Lundbeck speak only as at the date of this presentation. Lundbeck does not undertake any obligation to update or revise forward-looking statements in this presentation or oral presentations made on behalf of Lundbeck, nor to confirm such statements to reflect subsequent events or circumstances after the date of the presentation or in relation to actual results, unless otherwise required by applicable law or applicable stock exchange regulations.


 

H. Lundbeck A/S

Ottiliavej 9, 2500 Valby, Denmark

+45 3630 1311

info@lundbeck.com

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