Ascendis Pharma A/S : 2023 Oncology Program Update

Ascendis Pharma A/S

Oncology Program Update

May 31, 2023

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Cautionary Note on Forward-Looking Statements

This presentation contains forward-looking statements. All statements other than statements of historical facts contained in this presentation, such as statements regarding our prospective product candidates; clinical trial results; the expected timing of future clinical trial results; the scope, progress, results and costs of developing our product candidates or any other future product candidates; timing and likelihood of success; plans and objectives of management for future operations; and future results of current and anticipated products and product candidates are forward- looking statements. These forward-looking statements are based on our current expectations and beliefs, as well as assumptions concerning future events. These statements involve known and unknown risks, uncertainties and other factors that could cause our actual results to differ materially from the results discussed in the forward-looking statements. These risks, uncertainties and other factors are more fully described in our reports filed with or submitted to the Securities and Exchange Commission, including, without limitation, our most recent Annual Report on Form

20-F filed with the SEC on February 16, 2023 particularly in the sections titled "Risk Factors" and "Operating and Financial Review and Prospects." In light of the significant uncertainties in our forward-looking statements, you should not place undue reliance on these statements or regard these statements as a representation or warranty by us or any other person that we will achieve our objectives and plans in any specified timeframe, or at all.

Any forward-looking statement made by us in this presentation speaks only as of the date of this presentation and represents our estimates and assumptions only as of the date of this presentation. Except as required by law, we assume no obligation to update these statements publicly, whether as a result of new information, future events, changed circumstances or otherwise after the date of this presentation.

This presentation concerns product candidates that are or have been under clinical investigation and which have not yet been approved for marketing by the U.S. Food and Drug Administration, European Medicines Agency or other foreign regulatory authorities. These product candidates are currently limited by U.S. Federal law to investigational use, and no representations are made as to their safety or effectiveness for the purposes for which they are being investigated.

Ascendis, Ascendis Pharma, the Ascendis Pharma logo, the company logo, TransCon, and SKYTROFA are trademarks owned by the Ascendis Pharma group. © May 2023 Ascendis Pharma A/S.

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TransCon TLR7/8 Agonist & TransCon IL-2β/γ are investigational products candidates. For investor communication only. Not for use in product promotion. Not for further distribution.

Oncology R&D Day Agenda

10:00 a.m.

Welcome & Agenda Overview

Scott T. Smith, EVP, CFO

10:05-10:20 a.m.

Vision 3x3

Jan Møller Mikkelsen, President & CEO

10:20-10:35 a.m.

TransCon™ Platform & Product Innovation

Kennett Sprogøe, Ph.D.

EVP, Head of Innovation and Research

10:35-11:10 a.m.

Clinical Development Strategy & Clinical Updates

Stina Singel, M.D., Ph.D.

EVP, Head of Clinical Development, Oncology

11:10-11:30 a.m.

Investigator Perspectives

Diwakar Davar, M.D.

Associate Professor; Clinical Director of Melanoma

• Skin Cancer Program, University of Pittsburgh Medical Center (UPMC), Hillman Cancer Center

11:30-12:00 p.m.

Closing Remarks

Jan Møller Mikkelsen, President & CEO

Q&A

Moderated by Scott T. Smith, EVP, CFO

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TransCon TLR7/8 Agonist & TransCon IL-2β/γ are investigational products candidates. For investor communication only. Not for use in product promotion. Not for further distribution.

Vision 3x3

Our Vision for Oncology

Jan Mikkelsen

President & Chief Executive Officer

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TransCon TLR7/8 Agonist & TransCon IL-2β/γ are investigational products candidates. For investor communication only. Not for use in product promotion. Not for further distribution.

Vision 3x3: Building a Leading Global Biopharma Company

Our goal is to achieve sustainable growth through multiple approaches

• Obtain regulatory approval for three independent Endocrinology Rare Disease products
• • TransCon hGH for pediatric growth hormone deficiency
  • TransCon PTH for adult hypoparathyroidism
  • TransCon CNP for achondroplasia
• Grow Endocrinology Rare Disease pipeline through

• • Global clinical reach
  • Pursuing 9 total indications, label optimization, and life cycle management
  • New endocrinology products
• Establish global commercial presence for our Endocrinology Rare Disease area

• • Build integrated commercial organization in North America and select European countries
  • Establish global commercial presence through partners with local expertise and infrastructure
• Advance a high-value oncology pipeline with one IND or similar filing each year
• Create a third independent therapeutic area with a diversified pipeline

Ascendis Pharma's 2020 - 2025 strategic roadmap

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TransCon TLR7/8 Agonist & TransCon IL-2β/γ are investigational products candidates. For investor communication only. Not for use in product promotion. Not for further distribution.