Genmab — Share Issue/Capital Change 2016

May 18, 2016

Genmab

Capital Increase in Genmab as a Result of Employee Warrant Exercise

Company Announcement

Copenhagen, Denmark; May 18, 2016 – Genmab A/S (Nasdaq Copenhagen: GEN) will increase its share capital by 156,348 shares as a consequence of the exercise of employee warrants.

The increase is effected without any preemption rights for the existing shareholders of the company or others. The shares are subscribed in cash at the following price per share of nominally DKK 1:

• 281 shares at DKK 26.75,
• 2,600 shares at DKK 31.75,
• 850 shares at DKK 40.41,
• 4,375 shares at DKK 45.24,
• 350 shares at DKK 66.60,
• 3,000 shares at DKK 67.50,
• 750 shares at DKK 68.65,
• 1,250 shares at DKK 79.25,
• 950 shares at DKK 80.55,
• 125 shares at DKK 98,
• 1,250 shares at DKK 129.75,
• 5,000 shares at DKK 173,
• 344 shares at DKK 210,
• 2,800 shares at DKK 215.60,
• 9,666 shares at DKK 224,
• 6,749 shares at DKK 225.90,
• 1,150 shares at DKK 231.50,
• 5,830 shares at DKK 234,
• 1,500 shares at DKK 234.75,
• 1,200 shares at DKK 246,
• 11,975 shares at DKK 254,
• 16,050 shares at DKK 272,
• 7,925 shares at DKK 326.50,
• 3,625 shares at DKK 329,
• 1,212 shares at DKK 330,
• 1,688 shares at DKK 337.40,
• 49,390 shares at DKK 352.50,
• 11,844 shares at DKK 364, and
• 2,619 shares at DKK 466.20.

Proceeds to the company are approximately DKK 43.6 million. The increase corresponds to approx. 0.3 % of the company's share capital.

The new shares are ordinary shares without any special rights and are freely transferable negotiable instruments. The new shares give rights to dividends and other rights in relation to the company as of subscription, i.e. inter alia full rights to dividends for the financial year 2016. The new shares will be listed on Nasdaq Copenhagen after registration with the Danish Business Authority. Genmab A/S' current share capital amounts to DKK 59,677,584 and will after the capital increase be DKK 59,833,932. The capital increase is expected to be finalized shortly.

About Genmab

Genmab is a publicly traded, international biotechnology company specializing in the creation and development of differentiated antibody therapeutics for the treatment of cancer. Founded in 1999, the

Genmab A/S
Bredgade 34E
1260 Copenhagen K, Denmark
Tel: +45 7020 2728
Fax: +45 7020 2729
www.genmab.com
Company Announcement no. 23
Page 1/2
CVR no. 2102 3884

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Genmab

Capital Increase in Genmab as a Result of Employee Warrant Exercise

company has two approved antibodies, Arzerra® (ofatumumab) for the treatment of certain chronic lymphocytic leukemia indications and DARZALEX® (daratumumab) for the treatment of heavily pretreated or double refractory multiple myeloma. Daratumumab is in clinical development for additional multiple myeloma indications and for non-Hodgkin's lymphoma. Genmab also has a broad clinical and pre-clinical product pipeline. Genmab's technology base consists of validated and proprietary next generation antibody technologies - the DuoBody® platform for generation of bispecific antibodies, and the HexaBody® platform which creates effector function enhanced antibodies. The company intends to leverage these technologies to create opportunities for full or co-ownership of future products. Genmab has alliances with top tier pharmaceutical and biotechnology companies. For more information visit www.genmab.com.

Contact:

Rachel Curtis Gravesen, Senior Vice President, Investor Relations & Communications
T: +45 33 44 77 20; M: +45 25 12 62 60; E: r.gravesen@genmab.com

This Company Announcement contains forward looking statements. The words "believe", "expect", "anticipate", "intend" and "plan" and similar expressions identify forward looking statements. Actual results or performance may differ materially from any future results or performance expressed or implied by such statements. The important factors that could cause our actual results or performance to differ materially include, among others, risks associated with pre-clinical and clinical development of products, uncertainties related to the outcome and conduct of clinical trials including unforeseen safety issues, uncertainties related to product manufacturing, the lack of market acceptance of our products, our inability to manage growth, the competitive environment in relation to our business area and markets, our inability to attract and retain suitably qualified personnel, the unenforceability or lack of protection of our patents and proprietary rights, our relationships with affiliated entities, changes and developments in technology which may render our products obsolete, and other factors. For a further discussion of these risks, please refer to the risk management sections in Genmab's most recent financial reports, which are available on www.genmab.com. Genmab does not undertake any obligation to update or revise forward looking statements in this Company Announcement nor to confirm such statements in relation to actual results, unless required by law.

Genmab A/S and its subsidiaries own the following trademarks: Genmab®; the Y-shaped Genmab logo®; Genmab in combination with the Y-shaped Genmab logo™; the DuoBody logo®; the HexaBody logo™; HuMax®; HuMax-CD20®; DuoBody®; HexaBody® and UniBody®. Arzerra® is a trademark of Novartis AG or its affiliates. DARZALEX® is a trademark of Janssen Biotech, Inc.

Genmab A/S
Bredgade 34E
1260 Copenhagen K, Denmark
Tel: +45 7020 2728
Fax: +45 7020 2729
www.genmab.com
Company Announcement no. 23
Page 2/2
CVR no. 2102 3884