Company announcement – No. 14 / 2025

Zealand Pharma increases its share capital as a result of the exercise of employee warrants

Copenhagen, Denmark, June 6, 2025 – Zealand Pharma A/S (“Zealand Pharma”) (NASDAQ: ZEAL) (CVR-no. 20 04 50 78), a biotechnology company focused on the discovery and development of innovative peptide-based medicines, has by decision of the Board of Directors increased its share capital by a nominal amount of DKK 292,508 divided into 292,508 new shares with a nominal value of DKK 1 each. The capital increase is a consequence of the exercise of warrants granted under two of Zealand Pharma's employee warrant programs.

Employee warrant programs are part of Zealand Pharma’s incentive scheme. Each warrant gives the owner the right to subscribe for one newly issued Zealand Pharma share at a prespecified exercise price within the specific predefined time periods before expiration in the warrant programs. For a more detailed description of Zealand Pharma’s warrant programs, see the company’s Articles of Association, which are available on the website: www.zealandpharma.com.

The exercise price was DKK 224.40 per share for 4,163 of new shares and DKK 90.70 per share for 288,345 of new shares. The total proceeds to Zealand Pharma from the capital increase amount to DKK 27,087,068.70.

The new shares give rights to dividends and other rights from the time of the respective warrant holder's exercise notice. Each new share carries one vote at Zealand Pharma’s general meetings. Zealand Pharma has only one class of shares.

The new shares will be admitted to trading on Nasdaq Copenhagen after the capital increase has been registered with the Danish Business Authority. Following registration of the capital increase with the Danish Business Authority, the share capital of Zealand Pharma will be nominally DKK 71,343,804 divided into 71,343,804 shares with a nominal value of DKK 1 each and corresponding to a total of 71,343,804 votes.

A full copy of the new and amended Articles of Association can be found at https://www.zealandpharma.com once registered with the Danish Business Authority.

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About Zealand Pharma A/S
Zealand Pharma A/S (Nasdaq: ZEAL) ("Zealand") is a biotechnology company focused on the discovery and development of peptide-based medicines. More than 10 drug candidates invented by Zealand have advanced into clinical development, of which two have reached the market and three candidates are in late-stage development. The company has development partnerships with a number of pharmaceutical companies as well as commercial partnerships for its marketed products.
Zealand was founded in 1998 and is headquartered in Copenhagen, Denmark, with a presence in the United States. For more information about Zealand’s business and activities, please visit www.zealandpharma.com.

Contacts
Adam Lange (Investors)
Vice President, Investor Relations
Zealand Pharma
Email: alange@zealandpharma.com

Neshat Ahmadi (Investors)
Investor Relations Manager
Zealand Pharma
Email: neahmadi@zealandpharma.com

Anna Krassowska, PhD (Investors and Media)
Vice President, Investor Relations & Corporate Communications
Zealand Pharma
akrassowska@zealandpharma.com