Company announcement No. 33 / 2026

Zealand Pharma - Transactions related to share buy-back program (week 29, 2026)

Copenhagen, Denmark, July 20, 2026 – Zealand Pharma A/S ("the Company" or "Zealand Pharma") (NASDAQ:ZEAL) (CVR-no. 20045078), a biotechnology company transforming the future of metabolic health, today reports transactions related to its share buy-back program (the "Program") for week 29 (July 13 - July 17, 2026).

The Program is carried out in accordance with Article 5 of Regulation (EU) No 596/2014 (the Market Abuse Regulation, "MAR") and Commission Delegated Regulation (EU) 2016/1052 (the "Safe Harbour Regulation"). Reference is made to company announcement no. 15 / 2026 dated May 7, 2026, which sets out the full terms of the Program. Under the Program, Zealand Pharma may repurchase shares for a total consideration of up to DKK 1.3 billion. The maximum number of shares that may be acquired under the Program is 7,152,557, and the Program commenced on May 7, 2026, and will be completed no later than October 31, 2026. The Company has appointed Danske Bank as lead manager for the Program. Danske Bank will make its own trading decisions independently of, and without influence from, the Company.

Transactions executed in week 29

The following transactions have been executed on Nasdaq Copenhagen (XCSE) under the Program during week 29 (July 13, 2026 - July 17, 2026):

Date	Number of shares	Average purchase price (DKK)	Transaction value (DKK)
Accumulated as per latest announcement	1,789,000		537,758,750
13/07/2026	45,000	281.04	12,646,800
14/06/2026	45,000	275.93	12,416,850
15/07/2026	40,000	289.88	11,595,200
16/07/2026	35,000	300.13	10,504,550
17/07/2026	40,000	289.50	11,580,000
Accumulated (W29)	205,000		58,743,400
Total accumulated under the Program	1,994,000		596,502,150

Treasury shares and share capital

Following the transactions described above, Zealand Pharma holds a total of 2,864,482 treasury shares, corresponding to approximately 4% of the Company’s share capital.

The total number of shares in Zealand Pharma is 71,578,758, each with a nominal value of DKK 1.

Additional information

Detailed information on each transaction executed under the Program is available in the appendix to this company announcement.

About Zealand Pharma

Zealand Pharma A/S (NASDAQ:ZEAL) is a biotechnology company focused on advancing medicines for obesity and metabolic health. Combining more than 25 years of peptide R&D expertise with a proprietary data platform that leverages advanced data driven and AI/ML approaches, Zealand Pharma aims to lead a new era in obesity and metabolic health. To date, more than 10 Zealand Pharma invented drug candidates have entered clinical development, of which two products have reached the market and three candidates are in late-stage development. The Company has collaborations with global pharmaceutical and biotechnology partners for research, development, and commercialization. Founded in 1998, Zealand Pharma is headquartered in Copenhagen, Denmark, with a U.S. presence in Boston, Massachusetts. Learn more at www.zealandpharma.com.

Contacts

Eric Rojas (Investors)

Vice President, Head of Investor Relations

Zealand Pharma

Email: erojas@zealandpharma.com

Neshat Ahmadi (Investors)

Investor Relations Manager

Zealand Pharma

Email: neahmadi@zealandpharma.com

Rachel James-Owens (Media)

Vice President, Corporate Communications and Media Relations

Zealand Pharma

Email: rjamesowens@zealandpharma.com

Andreas Hylleberg Mølleskov (Media)

Director, External Communications

Zealand Pharma

Email: ahylleberg@zealandpharma.com

Attachment

Zealand Pharma - Share buy back - Transactions in week 29