UCB Inspired by patients. Driven by science Half-Year Results Brussels, 27 July 2017

Transcription

1 UCB Inspired by patients. Driven by science Half-Year Results Brussels, 27 July 2017

2 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. In the event of any differences between this Presentation and the Annual or Half Year Report, the information included in the Report shall prevail.

3 UCB HY 2017 information flow ן Positive growth momentum of core products drive company growth Jean-Christophe Tellier, CEO ן Bimekizumab demonstrates skin clearance in phase 2b psoriasis study Emmanuel Caeymaex, Immunology Patient Value Unit Head ן Strong growth gives rise to 2017 outlook Detlef Thielgen, CFO ן Conclusion Jean-Christophe Tellier, CEO ן Q&A 3

4 UCB's patient value strategy 4 We create value for patients through unique outcomes and the best individual experience for specific populations, improving as many of these lives as possible Mariana, living with epilepsy Value for patients Shareholder value

5 UCB is progressing on its growth path Priorities vs HY 2017 achievements 5 Grow core products Cimzia, Vimpat, Keppra, Briviact + Neupro : combined net sales: 1.7 billion (+18%) = 85% of net sales Strong growth Growth expansion Breakthrough phase Advance and prepare launch of next wave bimekizumab with strong positive phase 2b results in psoriasis EVENITY ARCH topline results + CRL 1 in the U.S. Deliver breakthrough solutions Translating scientific hypotheses into clinical development Development pipeline with 10 NMEs 2 Continued focus fostering biotech model Out-licensing of Xyzal as OTC 3 treatment in allergy Acquisition of Beryllium LLC 2017 financial outlook updated 1 CRL: complete response letter 2 NME: New Molecular Entity 3 OTC: over the counter

6 Translating scientific hypothesis into clinical differentiation 6 Bimekizumab Bimekizumab complete and specific blockade IL-17A & IL-17F Partial blockade anti-il-17a therapeutics IL- 17A IL-17F Specific targeting both IL-17A and IL-17F will improve therapeutic efficacy versus targeting IL-17A alone Innovative breakthrough molecules IL-17RC IL-17RA Skin and joint inflammation

7 Bimekizumab: Strong positive results from BE ABLE Demonstrates skin clearance in phase 2b psoriasis study patients Moderate to severe chronic plaque psoriasis* Up to 79% of patients achieved at least 90% skin clearance (PASI90) Up to 60% of patients achieved complete skin clearance (PASI100) bimekizumab 12 weeks placebo 12 weeks * Affected body surface area of at least 10% and PASI of at least 12

8 Bimekizumab current development program 8 First monoclonal antibody neutralizing both IL-17A and IL-17F Add on to Cimzia Psoriasis Psoriatic arthritis Ankylosing spondylitis (NCT ) (NCT ) (NCT ) (NCT ) 159 patients with moderate to severe rheumatoid arthritis 250 patients moderate to severe chronic plaque psoriasis 200 patients with active psoriatic arthritis 285 patients with active ankylosing spondylitis Duration 44 weeks 48 weeks 48 weeks 48 weeks Comparator placebo placebo placebo placebo Endpoint safety and tolerability + efficacy of bimekizumab as an add-on therapy to Cimzia PASI90* week 12 ACR50 week 12 ASAS40 week 12 Results Phase 2a results June 2017 Phase 2b results July 2017 Phase 2b results Q Phase 2b results Q * Defined as a patient who achieves 90% reduction from baseline in the PASI score Source:

9 9 Continued strong growth in 2017 Detlef Thielgen, CFO

10 UCB HY 2017 financial highlights Core product growth drive top and bottom line Revenue Revenue adjusted for divestitures and one-time revenue* Net sales up by 10% (+9% CER) to 2 billion Net sales adjusted for divestitures +14% (+13% CER) Total operating expenses Overall operating expense ratio improved to 47% R&D expense phasing Recurring EBITDA Higher gross profit Improved operating expenses ratio Profit of the Group 431 million attributable to UCB shareholders (+44%) 2.2 billion 1.05 billion 742 million 451 million Actual +12% +35% CER +10% +6% +5% +43% +32% +38% adjusted +13% 10 Core earnings per share Based on 188 million weighted average shares outstanding (2016: 188 million) % +42% CER: constant exchange rate *one-time other revenue of 56 million for out-licensing the OTC-allergy drug Xyzal (levoceterizine)

11 Continuously improved product mix 11 Cimzia, Vimpat, Keppra, Briviact + Neupro = 85% of net sales Cimzia +11% (+9% CER) Sustainable growth in a competitive environment Vimpat +25% (+22% CER) Robust growth in all markets HY 2017 net sales* million (+10%; CER: +9%) Keppra +17% (+16% CER) Driven by Japan, international markets and stocking effects Briviact Solid launch curve 36 million Neupro Continued growth +9% (+8% CER) CER = constant currency exchange rates * Excluding 8 million hedging

12 2017 HY - Top line growth leads to improved ratios* 12 Sustainable growth and margin improvement Gross margin ratio* Operating expense ratio* 30% 69% 69% 70% 71% 75% 60% 57% 55% 52% 47% 21% 25% 17% 18% FY 2013 FY 2014 FY2015 FY e FY 2013 FY 2014 FY 2015 FY 2016 HY 2017 FY 2013FY 2014FY 2015FY 2016 HY 2017 rebitda ratio tracking towards 30% target * versus revenue

13 2017 financial outlook updated cross all key performance indicators financial targets Guidance beyond 2017 unchanged Revenue rebitda billion billion rebitda / revenue ratio 30% in 2018 'CVN' net sales 3.1 billion by 2020 Core EPS* Briviact net sales 450 million by 2026 rebitda: recurring Earnings Before Interest, Taxes, Depreciation and Amortization charges * ~188 million weighted average shares outstanding

14 Translating scientific hypotheses into clinical development 14 bimekizumab (IL17A/F) psoriasis, psoriatic arthritis, ankylosing spondylitis 1 Phase 2b results: July 2017 / Q2 & Q dapirolizumab pegol (CD40L antibody) systemic lupus erythematosus padsevonil / UCB0942 (PPSI) highly drug resistant epilepsy seletalisib (PI3K δ inhibitor) Sjögren s syndrome + APDS 2 (phase 1b) Phase 1 Phase 2 Phase 3 Phase 2b results: H (Partner: Biogen) Phase 2b start: Q Phase 2a results: end 2017 rozanolixizumab / UCB7665 (FcRn) immune thrombocytopenia + MG 3 Phase 2a results: Q / H Filing UCB4144 / VR942 - asthma Phase 2a start: Q (Partner: Vectura) radiprodil / UCB infantile epilepsy Phase1b results: H UCB immunological diseases UCB auto-inflammatory diseases UCB Parkinson s disease neurology immunology * NME: New Molecular Entity 1 bimekizumab: psoriasis (July 2017), psoriatic arthritis (Q2 2018), ankylosing spondylitis (Q3 2018) 3 MG myasthenia gravis 2 APDS - Activated PI3K Delta Syndrome

15 UCB's patient value strategy 15 We create value for patients through unique outcomes and the best individual experience for specific populations, improving as many of these lives as possible Mariana, living with epilepsy Value for patients Shareholder value

16 16 Your Questions, please UCB's strategic growth path True differentiation drives leadership and sustainability Strong growth Cimzia, Vimpat, Neupro + Keppra Growth expansion Briviact + EVENITY Breakthrough phase - Growth expansion by the next wave of products

17 Further facts and figures 17

18 UCB - A global networked player 18 Recent investments and partnerships in technology platforms Research collaboration for stratified-medicine approach to the development of novel therapeutics for epilepsy Acquisition of leading capabilities for protein expression and structural biology The RNA-Medicines Company Acquisition of discovery platform targeting RNA with small molecules Research collaboration generating unprecedented understanding of the cellular composition of complex tissues, and to assess responses to therapies And "UCB Ventures Fund" to capture external innovation Research collaboration to advance the development of multi-specific therapeutic antibodies in I-O

19 2017 HY recurring EBITDA 19 Solid growth - Improved operating expenses ratio For the six months ended 30 June Actual Variance million Actual rates CER Revenue % 9% Net sales % 9% Royalty income and fees % 15% Other revenue % 45% Gross profit % 15% Marketing and selling expenses % 2% Research and development expenses % 4% General and administrative expenses % 6% Other operating income / expenses (-) n/a n/a Total operating expenses % 5% Recurring EBIT (REBIT) % 39% Amortization of intangible assets % -5% Depreciation charges % 28% Recurring EBITDA (REBITDA) % 32% CER: constant exchange rate * 2016 figures have been adjusted reflecting IFRS 15 implementation in 2017 EBIT: Earnings before interest and taxes EBITDA: Earning before interests, taxes, depreciation and amortization charges

20 2017 HY profit 20 For the six months ended 30 June Actual Variance million Actual rates CER Recurring EBIT % 39% Impairment charges 4-11 n/a n/a Restructuring expenses % -23% Gain on disposals 0 77 n/a n/a Other non-recurring income / expenses (-) 3-7 7% 6% Total non-recurring income / expenses (-) % -98% EBIT (operating profit) % 24% Net financial expenses (-) % -15% Result from associates 0 0 n/a n/a Profit before income taxes % 31% Income tax expense (-) / credit % 21% Profit from continuing operations % 34% Profit / loss (-) from discontinued operations 1-9 n/a n/a Profit % 38% Attributable to UCB shareholders % 39% Attributable to non-controlling interests % 42% CER: constant exchange rate EBIT: Earnings before interest and taxes

21 2017 HY core earnings per share 21 Strong growth of core net profit For the six months ended 30 June Actual Variance million Actual rates CER Profit % 38% Attributable to UCB shareholders % 39% Attributable to non-controlling interests % 42% Profit attributable to UCB shareholders % 39% Total non-recurring income (-) / expenses n/a n/a Income tax on non-recurring expenses (-) / credit -1-9 n/a n/a Financial one-off income (-) / expenses 0 28 n/a n/a Income tax on financial one-off income / expenses (-) 0 0 n/a n/a Profit (-) / loss from discontinued operations -1 9 n/a n/a Amortization of intangibles linked to sales n/a n/a Income tax on amortization of intangibles linked to sales n/a n/a Core profit attributable to UCB shareholders % 42% Weighted average number of shares (million) % n/a Core EPS attributable to UCB shareholders % 42%

22 Debt maturity schedule 30 June 2017) EIB loan Institutional eurobond Belgian retail bond Other loans million Liquid assets beyond EIB: European Investment Bank

23 Strong Cimzia performance across all regions 23 Cimzia Crohn s disease rheumatoid arthritis psoriatic arthritis axial spondyloarthritis / ankylosing spondylitis 2024 patent expiry (U.S. & EU) 2026 (Japan) Net sales 1 million HY 2017 HY 2016 Act CER U.S % 9% Europe % 9% Japan % -7% International markets % 13% Total Cimzia % 9% Astellas (Japan ) Dermira (psoriasis ) million 2016 net sales 1.5 billion peak sales by 2020 psoriasis Phase 3 results (Jan 2017) CRIB Phase 4 results (Jan 2017) R&D milestones psoriasis + psoriatic arthritis Phase 3 start (Japan - Feb 2017) JIA Complete Response Letter (U.S. - Mar 2017) CRIB & CRADLE Filing (EU - May 2017) CRIB & CRADLE Filing (U.S. - June 2017) psoriasis Submission nr axspa² Phase 3 results (U.S. - mid 2018) psoriasis + psoriatic arthritis Phase 3 results (Japan - Q4 2018) (U.S. + EU - July 2017) figures have been restated reflecting IFRS 15 implementation in nr axspa: non-radiographic axial spondyloarthritis Numbers may not add due to rounding CER: constant exchange rates

24 Cimzia in-market performance 24 U.S. Europe Japan 0% -2% -4% -6% -8% 6.5% 6.0% 5.5% Cimzia vs. Rheumatology 1 Market Growth Anti TNF Biologics Cimzia -6.2% +0.6% -3.4% Cimzia Rheumatology R3M Patient Share -0.5% +5.7% 5.9% 20% 15% 10% 5% 0% 9.5% 9.0% 8.5% Cimzia vs. Rheumatology 1 Market Growth 8.2% 11.4% 8.7% Anti TNF Biologics Cimzia Cimzia Rheumatology 1 R3M Patient Share +0.2% +0.5% 8.4% 20% 15% 10% 5% 0% 5.0% 4.5% 4.0% Cimzia vs. RA Market Growth 8.4% 9.9% 15.0% Anti TNF Biologics Cimzia Cimzia RA R3M Patient Share +0.3% +6.6% 4.0% 5.0% 8.0% 3.5% 4.5% May-16 Aug-16 Nov-16 Feb-17 May-17 Source: U.S: IMS Source of Business Report May % May-16 Aug-16 Nov-16 Feb-17 May-17 Source: IMS MIDAS In-Market KPI s are based on Exit Patients (May. 2017) 3.0% May-16 Aug-16 Nov-16 Feb-17 May-17 Source: IMS MIDAS; Cimzia patients are considered 100% in RA In-Market KPI s are based on Exit Patients (May. 2017) 1 Rheumatology market = rheumatoid arthritis (RA) + psoriatic arthritis (PsA) + ankylosing arthritis (AS) in the U.S. or axial spondylitis (AxSPA) in EU. For the U.S., the Cimzia and market growth are based on MAT 2017 vs MAT 2016 For Europe & Japan, the Cimzia and market growth are calculated for May 17 versus May 16, the patient share trend is based on R3M

25 Vimpat performance Robust growth in all markets, launch in Japan Vimpat Net sales 1 25 epilepsy POS patent expiry (U.S. & EU) 2024 (Japan) Daiichi Sankyo (Japan ) 814 million 2016 net sales > 1.2 billion peak sales by 2020 million HY 2017 HY 2016 Act CER U.S % 23% Europe % 15% Japan 6 International markets % 10% Total Vimpat % 22% epilepsy POS 2 pediatric Filing (U.S. Mar 2017) R&D milestones epilepsy POS 2 ped. adj. therapy Phase 3 results (Mar 2017) epilepsy POS pediatric CHMP 3 opinion (EU - July 2017) epilepsy PGTCS 4 adj. therapy Phase 3 results (2019) figures have been restated reflecting IFRS 15 implementation in POS: Partial-onset seizures, also known as focal seizures Numbers may not add due to rounding 3 CHMP: Committee for Medicinal Products for Human Use CER: constant exchange rate 4 PGTCS: Primary Generalized Tonic-Clonic Seizures

26 Vimpat in-market performance 26 U.S. Europe Japan 20% Vimpat vs. AED Market Growth (TRx) 20% Vimpat vs. AED Market Growth (TDx) 20% Vimpat vs. AED Market Growth (TDx) 15% 10% 5% 0% 2.5% AED Market 11.6% +9.0% Vimpat 15% 10% 5% 0% -5% -0.5% AED Market 14.2% Vimpat +14.6% 15% 10% 5% 0% 5.3% AED Market Numbers to be populated when sufficient data is available Vimpat 4.5% 4.3% 4.1% 3.9% 3.7% Vimpat R3M TRx Share +0.4% 4.1% 3.5% May-16 Aug-16 Nov-16 Feb-17 May-17 Source data U.S.: U.S. IMS NPA In-Market KPIs are based on TRx 3.5% 3.3% 3.1% 2.9% 2.7% Vimpat R3M TDx Share +0.3% 3.1% 2.5% May-16 Aug-16 Nov-16 Feb-17 May-17 Source data EU: IMS MIDAS In-Market KPI s are based on TDx Vimpat R3M TDx Share 0.5% 0.40% 0.4% 0.3% 0.2% 0.1% 0.0% May-16 Jul-16 Sep-16 Nov-16 Jan-17 Mar-17 May-17 AED market: All molecules in ATC3= N3A + Phenobarbital in N5B. In Europe 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.

27 Keppra performance 27 Continued in-market demand Keppra Net sales 1 epilepsy POS 2 epilepsy PGTCS 3 epilepsy myoclonic seizures Status of exclusivity: Japan (until 2020) U.S. (2008) 4 Europe (2010) million HY 2017 HY 2016 Act CER U.S % 7% Europe % -1% Japan % 87% International markets % 9% Total Keppra % 16% Otsuka (Japan ) 724 million 2016 net sales 1.2 billion peak sales (2008) figures have been restated reflecting IFRS 15 implementation in POS: Partial-onset seizures, also known as focal seizures Numbers may not add due to rounding 3 PGTCS: Primary Generalized Tonic-Clonic Seizures CER: constant exchange rate 4 Keppra XR expired in 2011

28 Keppra in-market performance 28 U.S. Europe Japan 4.0% 2.0% 0.0% -2.0% -4.0% -6.0% -8.0% -10.0% -12.0% Keppra vs. AED Market Growth 2.5% (TRx) AED Market Keppra -11.2% -13.7% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% -1.0% Keppra vs. AED Market Growth (TDx) -0.5% AED Market 3.7% Keppra +4.2% 50% 40% 30% 20% 10% 0% Keppra vs. AED Market Growth (TDx) 43.2% 5.3% AED Market Keppra +37.9% 2.0% 1.5% 1.0% 0.5% Keppra R3M TRx Share -0.2% 0.8% 13.0% 12.5% 12.0% 11.5% Keppra R3M TDx Share 0.0% 12.4% 16.0% 14.0% 12.0% 10.0% Keppra R3M TDx Share 14.5% +3.4% 0.0% May-16 Sep-16 Jan-17 May-17 Source data U.S.: U.S. IMS NPA In-market KPI s are based on TRx 11.0% May-16 Aug-16 Nov-16 Feb-17 May-17 Source data EU, JP: IMS MIDAS In-market KPI s are based on TDx 8.0% May-16 Aug-16 Nov-16 Feb-17 May-17 Source data EU, JP: IMS MIDAS In-market KPI s are based on TDx AED market: All molecules in ATC3= N3A + Phenobarbital in N5B. In Europe, 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. For U.S., Keppra includes Keppra XR. For EU, Keppra does not include UCB levetiracetam.

29 Briviact launch 29 New treatment option for patients living with epilepsy Briviact epilepsy POS patent expiry (U.S. & EU) 18 million 2016 net sales > 450 million peak sales by 2026 Available to patients in: Some EU countries North America epilepsy POS 2 monotherapy Filing (U.S. Jan 2017) Net sales 1 million HY 2017 HY 2016 Act CER U.S > 100% > 100% Europe 11 3 > 100% > 100% International markets 1 0 > 100% > 100% Total Briviact 36 7 > 100% > 100% R&D milestones epilepsy POS 2 ped. adj. therapy Filing (EU July 2017) epilepsy POS 2 ped. adj.+ mono therapy Filing (U.S. Jul 2017) figures have been restated reflecting IFRS 15 implementation in POS: Partial-onset seizures, also known as focal seizures Numbers may not add due to rounding CER: constant exchange rate

30 Briviact in-market performance A new therapeutic option in the AED market 30 U.S. Europe 0.50% Briviact R3M TRx Share 0.50% Briviact R3M TDx Share 0.42% 0.40% 0.40% 0.30% 0.20% 0.10% 0.15% 0.30% 0.20% 0.10% 0.00% May-16 Aug-16 Nov-16 Feb-17 May % May-16 Aug-16 Nov-16 Feb-17 May-17 Source data U.S.: U.S. IMS NPA In-Market KPIs are based on TRx Source data EU: IMS MIDAS In-Market KPI s are based on TDx AED market: All molecules in ATC3= N3A + Phenobarbital in N5B. In EU, 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.

31 Neupro performance 31 Neupro Net sales 1 Parkinson s disease restless legs syndrome 2021 patent expiry (U.S. & EU) 2024 (Japan) Otsuka (Japan ) 302 million 2016 net sales 400 million peak sales by 2020 million HY 2017 HY 2016 Act CER U.S % 25% Europe % 5% Japan % -9% International markets 6 7-8% -12% Total Neupro % 8% figures have been restated reflecting IFRS 15 implementation in 2017 Numbers may not add due to rounding CER: constant exchange rate

32 Neupro in-market performance 32 U.S. Europe Japan 8.0% 6.0% Neupro PD vs. PD (KC) Market Growth (TRx) 8.0% 6.0% Neupro PD vs. PD (KC) Market Growth (TDx) 6.6% 20% 16% Neupro PD vs. PD (KC) Market Growth (TDx) 16.9% 4.0% 2.0% 0.0% -2.0% -4.0% 0.8% 0.8% PD Market PD Key Competitors Neupro -2.2% -3.0% 4.0% 2.0% 0.0% -2.0% -4.0% 1.4% PD Market 0.0% PD Key Competitors Neupro +6.6% 12% 8% 4% 0% 0.0% 0.0% PD Market PD Key Competitors Neupro +16.9% 8.5% 8.0% 7.5% 7.0% 6.5% Neupro PD R3M TRx Share -0.1% 6.7% 6.0% May-16 Sep-16 Jan-17 May-17 Source data U.S.: U.S. IMS NPA In-market KPI s are based on TRx 18.5% 18.0% 17.5% 17.0% 16.5% Neupro PD R3M TDx Share +0.8% 17.5% 16.0% May-16 Aug-16 Nov-16 Feb-17 May-17 Source data EU, JP: IMS MIDAS In-market KPI s are based on TDx 30% 28% 26% 24% 22% Neupro PD R3M TDx Share +3.3% 27.7% 20% May-16 Aug-16 Nov-16 Feb-17 May-17 Source data EU, JP: IMS MIDAS In-market KPI s are based on TDx PD market: All molecules in ATC3= N4A. In the Europe and Japan, the TDx of all these molecules are factored for PD usage. In the U.S., 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.

33 EVENITY (romosozumab) An innovative investigational bone-building therapy 33 Uniquely increases bone formation and decreases bone resorption Opportunity to build bone in high-risk osteoporosis patients, especially post-fracture Manorama, living with osteoporosis STRUCTURE, FRAME, BRIDGE and ARCH Phase 3 studies completed Under regulatory review in the U.S., Canada and Japan Complete Response Letter in the U.S. EVENITY is the trade name of romosozumab which has been provisionally approved by the U.S. Food & Drug Administration (FDA) and the European Medicines Agency (EMA). EVENITY (romosozumab) is developed in partnership with Amgen globally.

34 Bimekizumab Ambition: Complete skin clearance together with profound effects on articular and non-articular symptoms 34 Patient unmet need emerges at the interface between psoriatic skin disease and the debilitating impact of inflammation in joints and other tissues, warranting an integrated resolution of the diverse disease manifestations Bimekizumab complete and specific blockade IL-17A & IL-17F Partial blockade anti- IL-17A therapeutics Therapeutic hypothesis: Specific targeting of both IL-17A and IL-17F will improve therapeutic efficacy versus targeting IL-17A alone Bimekizumab: the first humanized monoclonal IgG1 antibody that potently and selectively neutralizes both IL-17A & IL-17F IL-17A IL-17F Clinical experience to date: Psoriasis Ph2b study and early clinical studies in Psoriatic Arthritis and mild Psoriasis support that IL-17F neutralization is differentiating: Speed of clinical response Depth of clinical response Maintenance of clinical response 1,2 IL-17RC IL-17RA Skin and Joint inflammation 1. Glatt et al. Br J Clin Pharmacol ;83(5): Glatt et al. Ann Rheum Dis. 2016;75(Suppl 2):95-95.

35 R&D milestones in Cimzia psoriasis Phase 3 results Vimpat epilepsy POS ped. adj. therapy Phase 3 results romosozumab osteoporosis in post-menopausal women (ARCH) Phase 3 results romosozumab osteoporosis in post-menopausal women CRL (U.S.) UCB4144 / VR942 asthma Phase 2a start Briviact epilepsy POS monotherapy Filing (U.S.) Vimpat epilepsy POS ped. adj. therapy Filing (U.S.) bimekizumab add on to Cimzia rheumatoid arthritis Phase 2a results bimekizumab psoriasis Phase 2b results seletalisib Sjögren s syndrome Phase 2a results padsevonil / UCB0942 highly drug resistant epilepsy Phase 2a results rozanolixizumab / UCB7665 myasthenia gravis Phase 2a start Briviact epilepsy POS ped. adj. therapy Filing (EU) Vimpat epilepsy POS pediatric CHMP opinion (EU) Cimzia psoriasis / psoriatic arthritis - Phase 3 Start (Japan) Cimzia juvenile idiopathic arthritis CRL (U.S.) radiprodil / UCB3491 infantile epilepsy Phase 1b start Cimzia psoriasis Submission (U.S. & EU) neurology immunology bone POS: Partial-Onset Seizures, also known as focal seizures CHMP: Committee for Medicinal Products for Human Use CRL: complete response letter ITP: immune thrombocytopenia

36 R&D milestones rozanolixizumab / UCB7665 ITP Phase 2a results Cimzia nr axspa (U.S.) Phase 3 results dapirolizumab pegol SLE Phase 2b results Vimpat epilepsy PGTCS adj. therapy Phase 3 results bimekizumab psoriatic arthritis Phase 2b results Cimzia psoriasis / psoriatic arthritis - Phase 3 Results (Japan) rozanolixizumab / UCB7665 myasthenia gravis Phase 2a results radiprodil / UCB3491 infantile epilepsy Phase 1b results bimekizumab ankylosing spondylitis Phase 2b results neurology immunology bone nr axspa: non-radiographic axial spondyloarthritis SLE: Systemic Lupus Erythematosus PGTCS: Primary generalized tonic-clonic seizures

37 "Biotech model" - partnering examples 37 INN Indication Partner Status today vedolizumab moderate to severe: ulcerative colitis (UC) Crohn s disease (CD) Takeda available to patients since 2014 reslizumab eosinophilic asthma Teva available to patients since 2016 inotuzumab ozogamicin (CMC544) acute lymphoblastic leukemia (ALL) Pfizer Approved in EU (June 2017) PDUFA in August 2017 olokizumab rheumatoid arthritis (RA) R Pharm Phase 3 ongoing

38 One UCB today: A global player Presence in 38 countries complemented by a robust network of partners employees globally As at December 2016

39 One UCB today: A global player Presence in 38 countries complemented by a robust network of partners 39 U.S. Europe Japan International markets Major sites Atlanta, GA Raleigh, NC Braine-l Alleud & Brussels, Belgium Monheim, Germany Bulle, Switzerland Slough, U.K. Tokyo Saitama Shangai & Zuhai, China Employees employees 15% of global workforce employees 57% of global workforce 405 employees 5% of global workforce employees 22% of global workforce Net sales 983 million 48% of global sales* 629 million 31% of global sales* 177 million 9% of global sales* 255 million 12% of global sales* * Net sales before hedging

40 Stable shareholder base with free-float of 60% 40 Weighted average shares outstanding in 2017: 188 million Free float investors by region Source: Notifications and UCB underlying ownership analysis

41 Your UCB Investor Relations team 41 ן Antje Witte, Vice President Investor Relations Phone: antje.witte@ucb.com ן Isabelle Ghellynck, Director Investor Relations Phone: isabelle.ghellynck@ucb.com ן Nathalie Deldime, Investor Relations Manager Phone: nathalie.deldime@ucb.com ן Check out our new IR App stay tuned wherever you go