Ascendis Pharma A/S (Nasdaq: ASND), a biopharmaceutical company that utilizes its innovative TransCon™ technologies to potentially create new treatments that make a meaningful difference in patients’ lives, today announced the pricing of its underwritten public offering of 2,500,000 American Depositary Shares (“ADSs”), each of which represents one ordinary share of Ascendis, at a price to the public of $160.00 per ADS. All of the ADSs are being offered by Ascendis. The offering is expected to close on or about September 7, 2021 subject to customary closing conditions. In addition, Ascendis has granted the underwriters a 30-day option to purchase up to an additional 375,000 ADSs at the public offering price, less the underwriting commissions.

Ascendis estimates the net proceeds from the offering will be approximately $379.3 million (assuming no exercise of the underwriters’ option to purchase additional ADSs), after deducting the underwriting commissions and estimated offering expenses. Ascendis intends to use the net proceeds of the offering to support the commercial preparations, launch and commercial activities, clinical development and regulatory approval for lonapegsomatropin-tcgd, to fund clinical development of its other endocrinology rare disease programs, including palopegteriparatide and TransCon CNP, to identify and progress development of new product candidates, including in the therapeutic area of oncology, and for working capital and other general corporate purposes.

J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Evercore Group L.L.C. and SVB Leerink LLC are acting as joint book-running managers for the offering. Credit Suisse Securities (USA) LLC and Wells Fargo Securities, LLC are acting as co-lead managers for the offering and Cantor Fitzgerald & Co., Canaccord Genuity LLC, Wedbush Securities Inc. and Kempen & Co. USA, Inc. are acting as co-managers for the offering.

A shelf registration statement relating to these securities was filed with the U.S. Securities and Exchange Commission (“SEC”) on May 27, 2021, and automatically became effective upon filing. This offering is being made solely by means of a prospectus. A copy of the final prospectus supplement and the accompanying prospectus relating to this offering, when available, may be obtained by contacting J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204, or by email at [email protected]; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email at [email protected]; Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, or by telephone at (888) 474-0200, or by email at [email protected]; or SVB Leerink LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, or by telephone at (800) 808-7525, ext. 6105, or by email at [email protected].