H. Lundbeck A — Director's Dealing 2016

Jun 2, 2016

H. Lundbeck A/S

Ottiliavej 9

DK-2500 Valby, Copenhagen

CVR number: 56759913

Tel +45 36 30 13 11

Fax +45 36 43 82 62

E-mail investor@lundbeck.com

www.lundbeck.com

Lundbeck

Transactions with shares and linked securities in H. Lundbeck A/S made by executives and their closely associated persons and legal entities

Valby, Denmark, 2 June 2016 – Pursuant to power of attorney, H. Lundbeck A/S (Lundbeck) hereby reports transactions made by executives and persons and legal entities closely associated to them with shares and linked securities in Lundbeck, cf. Section 28a of the Danish Securities Trading Act.

As part of Lundbeck's long-term incentive program (Restricted Share Unit program), the below executives have previously been granted "Restricted Share Units". A Restricted Share Unit is a conditioned right to receive one share in Lundbeck. The Restricted Share Units have now vested and the executives have been granted the Lundbeck shares.

Name:	Lars Bang
Job position:	Executive Vice President, member of the Executive Management
ID code (ISIN code):	DK 0010287234
Name of the issuer of the securities:	H. Lundbeck A/S
Description of the security:	Share
Type of transaction:	Other transaction (transfer of shares in accordance with long-term incentive programme)
Date of trading:	1 June 2016
Market on which the trading was affected:	Nasdaq OMX Copenhagen
Number of traded securities:	12,735
Total market price of securities traded:	DKK 3,323,835
Name:	Anders Götzsche
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Job position:	Executive Vice President, member of the Executive Management
ID code (ISIN code):	DK 0010287234
Name of the issuer of the securities:	H. Lundbeck A/S
Description of the security:	Share
Type of transaction:	Other transaction (transfer of shares in accordance with long-term incentive programme)
Date of trading:	1 June 2016
Market on which the trading was affected:	Nasdaq OMX Copenhagen
Number of traded securities:	26,168
Total market price of securities traded:	DKK 6,829,848

2 June 2016

Corporate Release No 593

page 1 of 3

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Lundbeck

Name: Anders Gersel Pedersen
Job position: Executive Vice President, member of the Executive Management
ID code (ISIN code): DK 0010287234
Name of the issuer of the securities: H. Lundbeck A/S
Description of the security: Share
Type of transaction: Other transaction (transfer of shares in accordance with long-term incentive programme)
Date of trading: 1 June 2016
Market on which the trading was affected: Nasdaq OMX Copenhagen
Number of traded securities: 28,511
Total market price of securities traded: DKK 7,441,371

Name: Jacob Tolstrup
Job position: Executive Vice President, member of the Executive Management
ID code (ISIN code): DK 0010287234
Name of the issuer of the securities: H. Lundbeck A/S
Description of the security: Share
Type of transaction: Other transaction (transfer of shares in accordance with long-term incentive programme)
Date of trading: 1 June 2016
Market on which the trading was affected: Nasdaq OMX Copenhagen
Number of traded securities: 5,916
Total market price of securities traded: DKK 1,544,076

Furthermore, the below executive has sold shares:

Name: Jacob Tolstrup
Job position: Executive Vice President, member of the Executive Management
ID code (ISIN code): DK 0010287234
Name of the issuer of the securities: H. Lundbeck A/S
Description of the security: Shares
Type of transaction: Sale of shares
Date of trading: 1 June 2016
Market on which the trading was affected: Nasdaq OMX Copenhagen
Number of traded securities (no. of shares): 5,916
Market price of securities traded: DKK 1,543,440

2 June 2016
Corporate Release No 593
page 2 of 3

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Lundbeck

Persons under an obligation to report are defined as members of the Executive Management, members of the Board of Directors and other executives of H. Lundbeck A/S and persons/entities closely associated to them.

Closely associated persons/entities means inter alia:

• spouse or cohabitant
• children below the age of 18, provided that the executive is the holder of custody
• legal entities in which the executive has a controlling influence.

Lundbeck contacts

Investors: Palle Holm Olesen
Vice President, Investor Relations
palo@lundbeck.com
+45 30 83 24 26

Media: Mads Kronborg
Senior Director, Corp. Communication
mavk@lundbeck.com
+45 36 43 30 00

About Lundbeck

H. Lundbeck A/S (LUN.CO, LUN DC, HLUYY) is a global pharmaceutical company specialized in psychiatric and neurological disorders. For more than 70 years, we have been at the forefront of research within neuroscience. Our key areas of focus are depression, schizophrenia, Parkinson's disease and Alzheimer's disease.

An estimated 700 million people worldwide are living with psychiatric and neurological disorders and far too many suffer due to inadequate treatment, discrimination, a reduced number of working days, early retirement and other unnecessary consequences. Every day, we strive for improved treatment and a better life for people living with psychiatric and neurological disorders – we call this Progress in Mind.

Our approximately 5,000 employees in 55 countries are engaged in the entire value chain throughout research, development, manufacturing, marketing and sales. Our pipeline consists of several late-stage development programmes and our products are available in more than 100 countries. We have research centres in China and Denmark and production facilities in China, Denmark, France and Italy. Lundbeck generated revenue of DKK 14.6 billion in 2015 (EUR 2 billion; USD 2.2 billion).

For additional information, we encourage you to visit our corporate site www.lundbeck.com and connect with us on Twitter at @Lundbeck.

2 June 2016
Corporate Release No 593