Zealand Pharma

Remuneration Information • Mar 25, 2015

Copenhagen, 2015-03-25 11:09 CET (GLOBE NEWSWIRE) -- 25 March 2015 - Zealand
Pharma A/S (Nasdaq Copenhagen: ZEAL) (”Zealand”) announces that the company has
granted warrants to Torsten Hoffmann, former Executive Vice President and Chief
Scientific Officer. Torsten Hoffmann left his position as Executive Vice
President and Chief Scientific Officer on Thursday 19 March 2015. The warrants
are granted under an existing warrant scheme covered by the authority pursuant
to Section 8.1 of the company’s Articles of Association, adopted at the General
Meeting on 2 November 2010.

A total of 100,000 warrants have been granted, giving the right to subscription
of up to 100,000 new Zealand shares of DKK 1 nominal value each. The exercise
price is fixed at DKK 127.05 reflecting the closing price of the company’s
shares on Nasdaq Copenhagen on Tuesday 24 March 2015 plus 10%.

The exercise of the warrants may take place, in whole or in part, in the period
from 25 March 2018 until and including 25 March 2020. The exercise must be
completed within a period of four weeks following the publication of Zealand’s
full year reports or interim reports for the first quarter, first half or first
nine months, respectively.

The granted warrants have a total market value of DKK 3,777,773 calculated on
basis of the Black-Scholes model including a 180 days historic volatility of
41.9%, a 5-year risk free interest rate of -0.21% and a share price of DKK
115.50.

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For further information, please contact:

Britt Meelby Jensen, President and Chief Executive Officer

Tel: +45 51 67 61 28, email: bmj@zealandpharma.com

Hanne Leth Hillman, Senior Vice President for Investor Relations and
Communication

Tel: +45 50 60 36 89, email: hlh@zealandpharma.com

About the terms of the warrant scheme

In accordance with Sections 4 and 5 of the Danish Act on Exercise of Options or
Subscription Rights for Shares etc. in Employment Relationships the terms and
conditions of the warrant scheme imply the following:

If an employee leaves by giving notice of employment termination, the right to
exercise granted warrants will lapse. However, where the exercise period of the
warrants has commenced before termination of the employment, the warrants may
be exercised until the date where the employee leaves the company. The right to
be granted options will also lapse after expiry of the employment.

In case the employment ceases due to termination by the employer and such
termination is not caused by a breach on the part of the employee, the employee
retains the right to all granted warrants irrespective of whether the exercise
period has commenced before the employee leaves the company. The same applies
to the instances described in Section 4 (2) of the Danish Act on Exercise of
Options or Subscription Rights for Shares etc. in Employment Relationships
(termination due to age/retirement) and Section 4 (3) (termination due to gross
breach on the part of the employer).

If the employment ceases due to termination by the employer and such
termination is caused by a breach on the part of the employee, or in the event
that the employee is summarily dismissed for cause, the right to granted
warrants will cease as from the date of expiry of the employment. Where the
exercise period of the warrants has commenced before termination of the
employment, the warrants may be exercised until the date where the employee
leaves the company.

About Zealand Pharma

Zealand Pharma A/S (“Zealand”) (Nasdaq Copenhagen: ZEAL) is a biotechnology
company based in Copenhagen, Denmark. Zealand has leading expertise in the
discovery, design and development of novel peptide medicines and possesses
in-house competences in clinical trial design and management with a therapeutic
focus on metabolic diseases and acute care indications. The company is
advancing a pipeline of novel wholly-owned medicines alongside a partnered
product and development portfolio.

Zealand’s first invented medicine, lixisenatide, a once-daily prandial GLP-1
agonist for the treatment of Type 2 diabetes, is marketed globally (ex-US) as
Lyxumia® and in Phase III development as a single-injection combination with
Lantus® (LixiLan), both under a global license agreement with Sanofi. US
regulatory submission of Lyxumia® is planned for Q3 2015 and US/EU regulatory
submissions for LixiLan in Q4 2015.

Zealand’s wholly-owned products include danegaptide (prevention of Ischemic
Reperfusion Injury) in Phase II and the stable glucagon product, ZP4207
(treatment of severe hypoglycemia) in Phase I as well as several preclinical
peptide therapeutics. Partnering represents an important component of strategy
to leverage in-house expertise, share development risk in large clinical
trials, provide funding and commercialize the company’s products. Zealand
currently has global license agreements and partnerships with Sanofi, Helsinn
Healthcare, Boehringer Ingelheim and Eli Lilly.

For further information: www.zealandpharma.com Follow us on Twitter
@ZealandPharma