3 month 2016 interim update - UCB...11 . Potential important treatment option for osteoporosis . Manorama, living with osteoporosis. BRIDGE: Phase 3 placebo-controlled study in men

3 month 2016 interim update

Brussels, 25 April 2016

Disclaimer and safe harbor 2

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, 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, 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 in the pipeline will progress to product approval or that new indications for existing products will be developed and approved. Products or potential products which are the subject of partnerships, joint ventures or licensing collaborations may be subject to differences between the partners. Also, UCB or others could discover safety, side effects or manufacturing problems with its products after they are marketed. Moreover, sales may be impacted by international and domestic trends toward managed care and health care cost containment and the reimbursement policies imposed by third-party payers as well as legislation affecting biopharmaceutical pricing and reimbursement.

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.

Strengthening UCB's Patient Value Strategy

Shareholder value

• Patient Value Strategy – Shift from volume to patient value creation • Innovation Strategy – Differentiation • Networked Strategy – Competitive strengths + external connections • Growth Strategy – Top and bottom line growth delivering value

3

UCB's Strategic Growth Path 4

True differentiation drives leadership and sustainability

2015

Strong Growth Cimzia®, Vimpat®, Neupro® + Keppra®

Growth expansion by Briviact® + romosozumab

Breakthrough phase - Growth expansion by next wave products

UCB is progressing on its growth path 5

Achievements 2016 - March 2016

* New Molecular Entity

Patient value

Grow Cimzia®, Vimpat® and Neupro® Combined net sales: € 544 million; +26%

Advance and prepare launch of next wave Briviact® (brivaracetam) approved in EU and U.S. Romosozumab FRAME + BRIDGE: positive results

Deliver breakthrough solutions 9 NMEs* in Phase 2 and 1

Mid-term target: Competitive 30% rEBITDA margin in 2018

2016 financial outlook confirmed

3 months key financial highlights 6

On track to deliver FY 2016 guidance

€ million 3M 2016 3M 2015 Variance

Actual Actual CER

Revenue 991 895 11% 9%

Immunology/Cimzia® 283 227 25% 24%

Neurology* 434 396 9% 9%

Vimpat® 188 146 29% 28%

Keppra® 170 190 -11% -10%

Neupro® 73 60 22% 22%

Numbers may not add due to rounding CER: constant exchange rate * include Briviact and multiple sclerosis therapies in Asia (partner: Biogen)

Cimzia® performance 7

Continuously broadening patient access

Numbers may not add due to rounding 2 nr axSpA: non-radiographic axial spondyloarthritis 1 CER: constant exchange rates 3 idiopathic arthritis

• Crohn’s disease • rheumatoid arthritis • psoriatic arthritis • axial spondyloarthritis /

ankylosing spondylitis

1 083 million 2015 net sales

• Astellas (Japan - 2012) • Dermira (psoriasis - 2014)

Phase 3 • juvenile idiopathic arthritis • psoriasis • nr axial spondyloarthritis

(U.S.)

1.5 billion expected peak sales

Cimzia® € million 3M 2016 3M 2015 Actual CER1

U.S. 175 146 20% 18% Europe 81 66 21% 23% Japan 10 0 > 100% > 100% International markets 17 14 21% 33% Total Cimzia® 283 227 25% 24%

Net sales

R&D milestones

Cimzia® juvenile IA³

Phase 3 results

Cimzia® C-EARLY™ (104 weeks)

results

2018 2016 > 2017 >

Cimzia® psoriasis

Phase 3 results

Cimzia® EXXELERATE™ Phase 4 results

Cimzia® nr axSpA² (U.S.) Phase 3 results

Cimzia® women in child

bearing age Phase 4 results

Vimpat® performance 8

Continued strong growth in all markets

Numbers may not add due to rounding 1 Partial-onset seizures CER: constant exchange rate 2 Primary Generalized Tonic-Clonic Seizures

Epilepsy POS1

679 million 2015 net sales

Daiichi Sankyo (Japan - 2014)

Phase 3 • Epilepsy POS1 – mono (EU) • Epilepsy POS1 pediatric • Epilepsy PGTCS²

1.2 billion expected peak sales

Vimpat® € million 3M 2016 3M 2015 Actual CER

U.S. 145 109 33% 31% Europe 35 31 16% 16% International markets 8 7 22% 33% Total Vimpat® 188 146 29% 28%

Net sales

R&D milestones

2016

Vimpat® epilepsy POS1 – ped. adj. therapy Phase 3 results

> 2017

Vimpat® epilepsy POS1 -

monotherapy filing EU

2018 >

Keppra® performance 9

Continued growth & benefited in the U.S. from short supply in the market

Numbers may not add due to rounding 1 Partial-onset seizures CER: constant exchange rate 2 Primary Generalized Tonic-Clonic Seizures 3 Keppra® XR expired in Sep. 2011


1.2 billion peak sales (2008)

Keppra® Net sales

R&D milestones

E Keppra® epilepsy PGTCS2

adj. therapy - approval (Japan)

• epilepsy POS1 • epilepsy PGTCS² • epilepsy myoclonic

seizures

Otsuka (Japan - 2008)

Status of exclusivity: • Japan - until 2018 • U.S.³ - Nov. 2008 • Europe - Sep. 2010

€ million 3M 2016 3M 2015 Actual CER

U.S. 51 63 -18% -20% Europe 60 64 -7% -6% Japan 25 25 0% -6% International markets 33 38 -13% -6% Total Keppra® 170 190 -11% -10%

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

Neupro® performance 10

Reaching more and more patients

• Parkinson’s disease • restless legs syndrome


Otsuka (Japan - 2002)

400 million expected peak sales

Neupro® € million 3M 2016 3M 2015 Actual CER

U.S. 20 16 23% 20% Europe 38 36 7% 7% Japan 12 6 > 100% > 100% International markets 3 2 46% 60% Total Neupro® 73 60 22% 22%

Net sales

FRAME co-primary endpoints: reducing the incidence of new vertebral fractures through 12 and 24 months BRIDGE primary endpoint: increasing bone mineral density (BMD) at the lumbar spine at 12 months

Romosozumab in bone loss disorders

11

Potential important treatment option for osteoporosis

Manorama, living with osteoporosis

BRIDGE: Phase 3 placebo-controlled study in men with osteoporosis (March 2016)

FRAME: Phase 3 placebo-controlled study in postmenopausal women with osteoporosis (Feb. 2016)

Overall balanced safety profile

ARCH: Phase 3 active-controlled study in ostmenopausal women with osteoporosis (expected H1 2017)

STRUCTURE: Phase 3 active-controlled study in postmenopausal women with osteoporosis (Sept. 2015)

Osteoporosis: a silent disease 12

Globally, osteoporosis causes ~8.9m fractures per year1

1. International Osteoporosis Foundation. Osteoporosis Facts and Statistics. 2. National Osteoporosis Foundation. The Man’s Guide to Osteoporosis. 2011. 3. American Academy of Orthopaedic Surgeons. Position Statement: Osteoporosis/Bone Health in Adults as a National Public Health Priority. 4. International Osteoporosis Foundation. What Is Osteoporosis? 2015. 5. Vertebral Fracture Initiative - Overview of osteoporosis: Epidemiology and clinical management

a fracture every 3 seconds1

vertebral fracture is the most common osteoporotic fracture5

Postmenopausal osteoporosis (PMO) is the most common form of the disease.3

Men are most likely to break bones from osteoporosis later in life, making it more difficult to recover.2

PMO is a silent disease that cannot be seen or felt, and often goes undetected until a fracture occurs.4

bimekizumab / UCB4940 (IL17AF) various indications Phase 2b start: H2 2016

bimekizumab add-on to Cimzia® rheumatoid arthritis Phase 2a results: H1 2017

dapirolizumab pegol (CD40L antibody) systemic lupus erythematosus

Phase 2b start: Q3 2016 (Partner: Biogen)

UCB0942 (PPSI) highly drug resistant epilepsy Phase 2a results: Q1 2017

seletalisib (PI3K Delta inhibitor) Sjögren’s syndrome Phase 2a results: H1 2017

UCB7665 immune thrombocytopenia (ITP) Phase 2a results: H2 2017

UCB1332 / NPT200-11 Parkinson’s disease (Partner: Neuropore)

UCB4144 / VR942 asthma (Partner: Vectura)

UCB6673 immunological diseases (Partner: King’s College London)

UCB3491 epilepsy

Early pipeline - Deliver breakthrough solutions 13

9 NMEs* in early clinical development

* New Molecular Entity

neurology

immunology

Filing Confirm phase

Phase 3 Learn phase – POC1

Phase 1 Phase 2

Cimzia® C-Early™

results 104 weeks

romosozumab osteoporosis in

post-menopausal women (FRAME) Phase 3 results

UCB7665 ITP6

Phase 2a start

dapirolizumab pegol SLE²

Phase 2 start

2016 2017 2018 > >

Upcoming R&D milestones

1 IA: Idiopathic Arthritis 4 nr axSpA: non-radiographic axial spondyloarthritis 2 SLE: Systemic Lupus Erythematosus 5 PGTCS: Primary Generalized Tonic-Clonic Seizures 3 POS: Partial-Onset Seizures 6 idiopathic thrombocytopenia

14

Cimzia® psoriasis

Phase 3 results

romosozumab osteoporosis in men

(BRIDGE) Phase 3 results

Cimzia® EXXELERATE™ Phase 4 results

neurology

immunology

bone

UCB0942 highly drug resistant

epilepsy Phase 2 results

romosozumab osteoporosis in post-menopausal women

(ARCH) Phase 3 results

Vimpat® epilepsy POS³ – ped. adj. therapy Phase 3

results

bimekizumab various indications

Phase 2b start

seletalisib (UCB5857)

immunotherapy Phase 2 start

Cimzia® nr axSpA4 (U.S.) Phase 3 results

UCB7665 ITP6

Phase 2a results

bimekizumab add on to Cimzia® rheumatoid arthritis Phase 2a results

2019

Vimpat® epilepsy PGTCS5 – adjunctive therapy

Phase 3 results

Vimpat® epilepsy POS³ –

monotherapy (EU) - filing

Cimzia® women in child

bearing age Phase 4 results

UCB3491 epilepsy

Phase 1 start

Cimzia® juvenile IA1

Phase 3 results

2016 and mid-term financial outlook 15

Continued, sustainable growth

* By the end of this decade

2016 guidance Revenue rEBITDA Core EPS

~ € 4.0 – 4.1 billion

~ € 970 – 1 010 million ~ € 2.90 - 3.20

Continued growth: Cimzia®, Vimpat®, Neupro®

• Expected R&D expense ratio of ~28% (+/-1%point)

• Expected underlying tax ratio in the "high twenties"

~188 million shares

Mid-term guidance

• Recurring EBITDA of 30% in 2018 • Net debt / rEBITDA ratio of 1:1 by 2018 • Cimzia®, Vimpat®, Neupro® combined peak sales of at least € 3.1 billion*

UCB's Strategic Growth Path 16

True differentiation drives leadership and sustainability

2015

Strong Growth Cimzia®, Vimpat®, Neupro® + Keppra®

Growth expansion by Briviact® + romosozumab

Breakthrough phase - Growth expansion by next wave products

Patient value

UCB’s value proposition: The patient preferred biopharma 17

Ready to take advantage of a changing environment

Shareholder value

Appendix

Growth drivers Core medicines tracking well towards peak sales target of € 3.1 billion*

19

* By the end of this decade

EXPECTED AT LEAST

Inflammatory arthritis indications and Crohn’s disease

€ 1.5 billion peak sales

Psoriasis: strategic collaboration with

Dermira

EXPECTED AT LEAST

Epilepsy partial-onset seizures

€ 1.2 billion peak sales

Monotherapy in the U.S.

Partner in Japan: Daiichi Sankyo

EXPECTED AT LEAST

Parkinson’s disease and Restless Legs

Syndrome

€ 400 million peak sales

Partner in Japan: Otsuka

29 32 37 38 49 49 52

114 118 122 125

125 127 124

Jan 2012 Jan 2013 Jan 2014 Jul 2014 Jan 2015 Jul 2015 Jan 2016

Cov

ered

Liv

es in

Mill

ions

preferred co-preferred

Patient access to Cimzia® in the U.S. 20

Stable Live Coverage

Total lives with Cimzia® (certolizumab pegol) in preferred or co-preferred position in the U.S.

159 163 150

143

174 176 176

Source: Preferred lives from UCB Internal Contracts Database, Co-preferred from UCB internal analysis

$35 $40 $53 $53

$81 $96

$112 $129

H1 2012 H2 2012 H1 2013 H2 2013 H1 2014 H2 2014 H1 2015 H2 2015

+12%

+33% +1%

+51%

+19%

+17%

+15%

$166 $193 $210

$247

$313 $350

$376 $395

H1 2012 H2 2012 H1 2013 H2 2013 H1 2014 H2 2014 H1 2015 H2 2015

+16% +9%

+17%

+27%

+12%

+7% +5%

Lyophilized formulation accounts for approx. 25% of U.S. Cimzia® sales measured

in IMS dollarized sales

Cimzia® offers two unique solutions for the U.S. market

Consistent and continued growth of prefilled syringe as measured

in IMS dollarized sales

IMS data is NSP

21

Cimzia® differentiation: Exxelerate

Consistent with the ACR/EULAR recommendations for the reporting of RA disease activity in clinical studies.

Exxelerate is:

• The 1st head-to-head superiority study within the anti-TNF class in RA

• The 1st study to investigate the efficacy and safety of an ‘immediate switch’ from one TNF to the next i.e. without wash-out period

• A study providing clinical evidence for the treat-to-target principle: adjust treatment if there is no improvement after 3 months

• > 900 patients randomized

22

Study Design Highlights

Objective – Assess the short- and long-term efficacy of CZP compared with ADA in subjects who have moderate to severe RA and who are not responding adequately to MTX

Primary endpoints • Wk 12: Superiority of CZP vs ADA in ACR20 • Wk 104: Superiority of CZPvs ADA in Low Disease Activity

ADA – adalimumab, CZP – certolizumab pegol, MTX – methotrexate, H2H – head-to-head study

Study description

% with ACR20 response at Week 12

Primary Endpoints

NCT01500278

% LDA with DAS28(ESR) ≤ 3.2 at Week 104

0 12 24 102 104

Week 12 responders CZP + MTX

Week 12 non- responders ADA + MTX

ADA + MTX

Week 12 responders ADA + MTX

Week 12 non-responders CZP + MTX

CZP + MTX CZP to CZP

CZP to ADA

ADA to ADA

ADA to CZP

4.4%

3.5%

4.0%

4.5%

5.0%

5.5%

Feb-15 May-15 Aug-15 Nov-15 Feb-16

Cimzia® Rheumatology1 R3M TRx Share

8.4% 10.7%

26.2%

0%

5%

10%

15%

20%

25%

30%

Anti TNF Biologics Cimzia®

Cimzia® vs. RA Market Growth

13.3% 13.7%

25.5%

0%

5%

10%

15%

20%

25%

30%

Anti TNF Biologics Cimzia®

Cimzia® vs. Rheumatology1 Market Growth

3.8% 4.8%

14.8%

0%

5%

10%

15%

20%

25%

30%

Anti TNF Biologics Cimzia

Cimzia® vs. Rheumatology1 Market Growth

Cimzia® in-market performance (February 2016) 23

Strong growth in rheumatology indications

1 Rheumatology includes RA, AS/AxSPA and PSA indications Shares calculated based on Anti-TNF market . In-market growth is calculated for MAT Feb’16 vs. MAT Feb’15 Market share is calculated for Feb’16 and market share growth is shown against R3M Feb’15

U.S.

+10.9%

+0.2%

Europe Japan

Source: U.S. IMS NPA In-Market KPI’s are based on TRx

+12.1%

7.9%

6.5%

7.0%

7.5%

8.0%

8.5%


Cimzia® Rheumatology 1 R3M Patient Share

+1.0%

Source: IMS MIDAS In-Market KPI’s are based on Exit Patients

+17.8%

3.6%

2.5%

3.0%

3.5%

4.0%

4.5%


Cimzia® RA R3M Patient Share

+0.6%

Source: IMS MIDAS; Cimzia® patients are considered 100% in RA In-Market KPI’s are based on Exit Patients

3.7%

3.0%

3.2%

3.4%

3.6%

3.8%

4.0%


Vimpat® – R3M TRx Share

2.6%

2.0%

2.2%

2.4%

2.6%

2.8%

3.0%


Vimpat® – R3M TDx Share

4.0%

18.1%

0%

5%

10%

15%

20%

25%

AED Market Vimpat®

Vimpat® vs. AED Market Growth (TRx)

-0.7%

20.3%

-5%

0%

5%

10%

15%

20%

25%

AED Market Vimpat®

Vimpat® vs. AED Market Growth (TDx)

Vimpat® in-market performance (February 2016) 24

A leading therapeutic option in the AED market

AED = anti epileptic drug - AED market: All molecules in ATC3= N3A + Phenobarbital in N5B. In EU 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. AED Market and Vimpat® growth are calculated for MAT Feb'16 vs. MAT Feb'15. Vimpat® market share is calculated for R3M Feb'16 and market share growth is shown against R3M Feb'15

U.S.

+14.2%

+0.4%

Europe Japan

Source data U.S.: U.S. IMS NPA In-Market KPIs are based on TRx

+21.0%

+0.4%

Source data EU: IMS MIDAS In-Market KPI’s are based on TDx

Vimpat® filed with the Japanese authorities

(June 2015)

-0.7%

2.5%

-10.0%

-8.0%

-6.0%

-4.0%

-2.0%

0.0%

2.0%

4.0%

6.0%

AED Market Keppra®

Keppra® vs. AED Market Growth (TDx)

4.0%

-9.2% -10.0%

-8.0%

-6.0%

-4.0%

-2.0%

0.0%

2.0%

4.0%

6.0%

AED Market Keppra®

Keppra® vs. AED Market Growth (TRx)

1.0%

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%


Keppra® – R3M TRx Share 10.3%

7.5%

8.0%

8.5%

9.0%

9.5%

10.0%

10.5%


Keppra® – R3M TDx Share

12.1%

10.0%

10.5%

11.0%

11.5%

12.0%

12.5%

13.0%


Keppra® – R3M TDx Share

-2.3%

34.3%

-5%

0%

5%

10%

15%

20%

25%

30%

35%

40%

AED Market Keppra®

Keppra® vs. AED Market Growth (TDx)

Keppra® in-market performance (February 2016) 25

Growth in a genericized market

AED market: All molecules in ATC3= N3A + Phenobarbital in N5B. In EU and Japan, the TDx of all these molecules are factored for epilepsy usage. In the US, the TRx of 26 of these molecules are factored for epilepsy usage. For US, Keppra includes Keppra XR. For EU, Keppra does not include UCB Levetiracetam. AED Market and Keppra TRx growth are calculated for MAT Feb'16 vs. MAT Feb'15. Keppra TRx market share is calculated for R3M Feb'16 and market share growth is shown against R3M Feb'15

U.S.

-13.1%

-0.1%

Europe Japan

Source data U.S.: U.S. IMS NPA In-market KPI’s are based on TRx

+3.3%

+0.8%

Source data EU, JP: IMS MIDAS In-market KPI’s are based on TDx

+36.6%


+2.9%

23.5%

16%

18%

20%

22%

24%


Neupro® PD – R3M TDx Share

0.7% 0.9%

9.9%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

PD Market PD KeyCompetitors

Neupro®

Neupro® PD vs. PD (KC) Market Growth (TDx)

17.2%

15.0%

15.5%

16.0%

16.5%

17.0%

17.5%

18.0%


Neupro® PD – R3M TDx Share

6.9%

6.0%

6.5%

7.0%

7.5%

8.0%

8.5%


Neupro® PD – R3M TRx Share

0.4% 1.5%

38.8%

0%5%

10%15%20%25%30%35%40%45%50%


Neupro®

Neupro® PD vs. PD (KC) Market Growth (TDx)

-1.8% -1.8%

5.2%

-2.0%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%


Neupro®

Neupro® PD vs. PD (KC) Market Growth (TRx)

Neupro® in-market performance (February 2016) 26

Growth in a genericized market

PD market: All molecules in ATC3= N4A. In the EU 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 US, only Rotigotine, Pramipexole and Ropinirole are factored for PD usage, hence the PD market and PD KC market are the same.

U.S.

+7.1%

+0.3%

Europe Japan

Source data U.S.: U.S. IMS NPA In-market KPI’s are based on TRx

+9.0%

+1.3%


+37.4%

+5.4%


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

Strong Neurology Portfolio Performance 27

The right product for the right patient

€ million FY 2015 FY 2014 Actual CER

Vimpat® 679 471 44% 26% Neupro® 258 200 29% 22% Keppra® 737 665 11% 2% Total Neurology 1 675 1 337 25% 13%

Net sales

Establishing a new foundational therapy for focal epilepsies with an ideal profile

Meeting the need for immediate control and clarity of response

Heritage to accelerate the value shift from old to new

Expanding our portfolio, creating sustainable patient value 28

Helping individuals live at their ideal is the core of our strategy

1 – “Hope” and “Trust” UCB Sponsored ethnographic research, among the largest and most robust ever conducted in epilepsy

Introducing BRIVIACT® in epilepsy POS1 29

New epilepsy treatment for patients experiencing uncontrolled partial-onset seizures

1 POS: partial-onset seizures 2 The most commonly reported adverse events were somnolence, dizziness, fatigue and headache. Source: UCB data on file 3 American Epilepsy Society 4 The Drug Enforcement Administration is anticipated to classify BRIVIACT® according to its drug schedule within the next 90 days, at which time BRIVIACT® will become commercially available in the U.S.

One of the largest Phase 3 programs in epilepsy involving over 1 550 patients

Statistically significant AND clinically relevant top-line results²

Now approved in EU (Jan 2016) and U.S. (Feb 2016)4

Guoqiong, living with epilepsy

Guided by patient insights: “Life in Between” – Patients spend their life waiting for:

Seizure Control The need to know

Our newest solution…

BRIVIACT® Meeting the need for

immediate control and clarity of response

Registrational studies in osteoporosis

• 7 180 patients (post-menopausal women)

• 12 months romosozumab followed by denosumab

• Placebo

• Incidence of new vertebral fracture

• 436 patients (post-menopausal women)

• 12 months romosozumab

• Teriparatide

• BMD DXA % change at the hip

STRUCTURE (NCT01796301)

September 2015

Romosozumab development Phase 3 program in bone loss disorders

30

Duration

Comparator

Primary Endpoint

Topline results

FRAME (NCT01575834)

• 4 094 patients (post-menopausal women)

• 12 months romosozumab followed by alendronate

• Alendronate

• Incidence of clinical fracture + incidence of new vertebral fractures at month 24

ARCH (NCT01631214)

• 245 patients (men)

• 12 months romosozumab

• Placebo

• BMD DXA % change at the lumbar spine

BRIDGE (NCT02186171)

2017 March2016 February 2016

UCB FY 2015 financial highlights 31

Strong net sales growth – under-proportional growth of operating expenses

EBITDA: Earning before interests, taxes, depreciation and amortization charges CER: constant exchange rate

CER

+9%

+12%

+18% +35%

Actual

Revenue • Strong net sales growth of 20% (+12% CER) • Tailwind from currency exchange rates

€ 3 876 million

Total operating expenses • Operating expense ratio improved

€ 2 142 million

Recurring EBITDA

€ 821 million

Profit of the Group • Divestiture of Kremers Urban • € 623 million attributable to UCB shareholders

€ 674 million

Core earnings per share (in 2015 based on 192 million weighted average shares outstanding; 2014: 191m)

€ 2.17

+16%

>100%

+5%

+28% +9%

>100%

Top and bottom line growth – improved ratios* 32

* versus revenue

2013 2014 2015 2018e

30%

21%

18%

17% 57.2%

55.3%

2014 2015

Total operating expense ratio

68.5%

70.1% Gross margin

rEBITDA ratio – accelerating towards

mid-term target

Topline and bottom line growth

33

Strong growth, higher gross margin, under-proportional growth of operating expenses - supported by tailwind from FX

€ million FY 2015 FY 2014 Variance

Actual Actual CER

Revenue 3 876 3 344 16% 9%

Net sales 3 512 2 938 20% 12% Royalty income and fees 176 163 9% 0% Other revenue 188 243 -23% -27%

Gross profit 2 719 2 291 19% 9%

Marketing and selling expenses -904 -779 16% 9% R&D expenses -1 037 -928 12% 6% G&A expenses -192 -201 -4% -8% Other operating expense / income -9 -4 > 100% 29%

Total operating expenses -2 142 -1 911 12% 5%

Recurring EBIT 577 379 52% 28%

Amortization of intangible assets 170 168 1% -5% Depreciation charges 74 62 22% 14%

Recurring EBITDA 821 609 35% 18%

CER: constant exchange rate EBIT: Earnings before interest and taxes EBITDA: Earning before interests, taxes, depreciation and amortization charges

Profit of the Group 34

KU divestiture enhances financial and strategic flexibility € million

FY 2015 FY 2014 Variance

Actual Actual CER

Recurring EBIT 577 379 52% 28% Impairment charges -88 -30 > 100% > 100% Restructuring expenses -27 -63 -57% -58% Gain on disposals 139 20 > 100% > 100% Other non-recurring income / expenses (-) -79 -34 > 100% > 100%

Total non-recurring income / expenses (-) -55 -107 -49% -40% EBIT 522 273 92% 55%

Net financial expenses -96 -162 -41% -43% Income tax expenses -111 -6 > 100% > 100%

Profit from continuing operations 315 105 > 100% > 100%

Profit from discontinued operations 359 94 > 100% > 100%

Profit of the Group 674 199 > 100% > 100%

Attributable to UCB shareholders 623 209 > 100% > 100%

Attributable to non-controlling interests 51 -10 n.s. n.s.

EBIT: Earnings before interest and taxes

1 287

104 250

176

500

75

350 350

300

168

118

933

18 18

243 368 368 350

176

Liquidassets

2016 2017 2018 2019 2020 2021 2022 2023 beyond

Belgian Commercial Paper Belgian retail bond Institutional eurobond

Perpetual bond Other loans EIB loan

Debt maturity schedule (@ 31 December 2015)

Perpetual bond with first call date in March 2016, recognized as equity on UCB’s balance sheet

35

(€ million)

KU divestiture enhances financial and strategic flexibility

Core earnings per share plus 28% (+9%) 36

€ million FY 2015 FY 2014 Variance

Actual CER

Profit attributable to UCB shareholders 623 209 > 100% > 100%

+ After-tax non-recurring items and financial one-offs

53 109 -48% -57%

- Profit (-) / loss from discontinued operations

-359 -94 > 100%

> 100%

+ After tax amortization of intangibles 100 99 1% -6% Core Profit to UCB shareholders 417 322 29% 10% Weighted average number of shares (mn) 192 191 1% n.s. Core EPS 2.17 1.69 28% 9%

1 Restated for Kremers Urban divestiture decision CER: constant exchange rate

Improved product mix in 2015 37

Cimzia®, Vimpat®, Neupro® + Keppra® = 77% of net sales

CER = constant currency exchange rates * After hedging

Cimzia® +36% (+21% CER) • Continuously broadening patient access

Vimpat® +44% (+26% CER) • Monotherapy available in the U.S.

(Sep 2014)

Neupro® +29% (+22% CER) • Reaching more and more patients

Keppra® +11% (+2% CER) • Post-exclusivity erosion in Europe -

strong growth in other markets

FY 2015 net sales* € 3 512 million (+20%; CER: +12%)

1 694 million 47 of net sales 1 179 employees

U.S.

€ %

1 203 million 34 of net sales 4 244 employees

Europe

€ %

207 million 6 of net sales 326 employees

Japan

€ %

490 million 14 of net sales 2 039 employees

Int’l markets

€ %

UCB global footprint 38

Situation @ 31 December 2015

Belgium: 1 866 employees

Workforce distribution 39

Total headcount @ 31 December 2015: 7 788 employees

Shareholder structure 40

“Free float” investors by region

Stable shareholder base with free-float of 61% Total number of shares: 194.5 million Weighted average shares outstanding in 2015: 192 million; 2016e: 188 million

Source: Notifications and UCB underlying ownership analysis

ן Antje Witte, Vice President Investor Relations • Phone: +32 2 559 9414 • E-mail: [email protected]

ן Isabelle Ghellynck, Director Investor Relations • Phone: +32 2 559 9588 • E-mail: [email protected]

ן Nathalie Deldime, Investor Relations Events Manager • Phone: +32 2 559 9291 • E-mail: [email protected]

Your UCB Investor Relations team 41

mailto:[email protected]:[email protected]:[email protected]

3 month 2016 �interim updateDisclaimer and safe harborStrengthening UCB's Patient Value Strategy�UCB's Strategic Growth PathUCB is progressing on its growth path3 months key financial highlightsCimzia® performanceVimpat® performanceKeppra® performanceNeupro® performanceRomosozumab in bone loss disorders �Osteoporosis: a silent diseaseEarly pipeline - Deliver breakthrough solutionsUpcoming R&D milestones2016 and mid-term financial outlookUCB's Strategic Growth PathUCB’s value proposition: The patient preferred biopharmaAppendix�Growth driversPatient access to Cimzia® in the U.S.Cimzia® offers two unique solutions for the U.S. marketCimzia® differentiation: Exxelerate�Cimzia® in-market performance (February 2016)Vimpat® in-market performance (February 2016)Keppra® in-market performance (February 2016)Neupro® in-market performance (February 2016)Strong Neurology Portfolio PerformanceExpanding our portfolio, creating sustainable patient valueIntroducing BRIVIACT® in epilepsy POS1Romosozumab developmentUCB FY 2015 financial highlightsTop and bottom line growth – improved ratios*Topline and bottom line growth�Profit of the GroupDebt maturity schedule (@ 31 December 2015)Core earnings per share plus 28% (+9%)Improved product mix in 2015UCB global footprintWorkforce distributionShareholder structureYour UCB Investor Relations team

Documents

3 month 2016 interim update - UCB...11 . Potential important treatment option for osteoporosis . Manorama, living with osteoporosis. BRIDGE: Phase 3 placebo-controlled study in men