Lundbeck announces expiration of Longboard tender offer and that all tender offer conditions are fulfilled

• A significant step forward in Lundbeck’s Focused Innovator strategy and advancing the goal of building a robust neuro-rare franchise
• The transaction is expected to close on December 2, 2024, following Lundbeck’s acceptance of all shares of common stock validly tendered and not validly withdrawn pursuant to the tender offer
• Total transaction value of approximately USD 2.6 billion equity value and USD 2.5 billion net of cash (approximately DKK 17 billion)
• The acquisition is expected to contribute to Lundbeck’s long-term revenue growth potential following expected launch in 2028

H. Lundbeck A/S (Lundbeck) announced that its previously announced tender offer to acquire all of the outstanding shares of Longboard Pharmaceuticals, Inc. (NASDAQ: LBPH) (Longboard) common stock for a purchase price of USD 60.00 per share in cash without interest and subject to any applicable withholding of taxes, has expired and that at time of expiration of the tender offer a total of shares representing 88.6% of the issued and outstanding voting shares of Longboard were validly tendered and not validly withdrawn pursuant to the tender offer.

Consequently, the condition to the tender offer that at least one share more than 50% of the outstanding Longboard voting shares at the expiration of the tender offer be validly tendered and not validly withdrawn as well as all other conditions to the tender offer have been satisfied.

Lundbeck expects to close the transaction on December 2, 2024, following Lundbeck’s acceptance for payment of all shares of Longboard common stock validly tendered and not validly withdrawn pursuant to the tender offer.

As a result of the closing, Longboard will become a wholly-owned subsidiary of Lundbeck and the common stock of Longboard will be delisted from the NASDAQ Global Market.

Longboard stockholders can direct questions regarding the tender offer to MacKenzie Partners, Inc., the information agent for the tender offer, toll free at +1 (800) 322-2885 or by email at tenderoffer@mackenziepartners.com.