IEX Beleggen in Biotech Dag Leonard Kruimer May 20, 2006

Disclaimer The presentation contains or may contain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. It is important to note that the company’s actual results could differ materially from the statements, based on a number of important factors. Crucell’s filings with the U.S. SEC contain cautionary statements identifying important factors affecting such forward-looking statements, including certain risks and uncertainties, that could cause actual results to differ materially from projections contained in any forward-looking statements made by the company. 19-9-2018

Key data Crucell Based in Listing Employees Technology Products Facilities Partners Holding The Netherlands Euronext, NASDAQ and SWX ~ 900 Proprietary PER.C6® cell culture production technology Vaccines and antibodies for infectious diseases Switzerland, Korea, Spain, Netherlands 45 Licensees; global distributor network 10 % Galapagos Genomics N.V. 19-9-2018

Crucell Core Technologies EXPRESSION REPLICATION PER.C6® Antibodies Proteins CHO, NS/0 Market $ 35 bill Vaccines VERO, MDCK Market $ 9 bill STARTM 19-9-2018

Crucell Strategy Vaccines Proteins & Antibodies “Growing & optimizing vaccines” Marketing & Sales Research Develop- ment Manu- facturing Technology Vaccines Proteins & Antibodies “Leveraging technology” 19-9-2018

Growth Vaccine market 13%/year Sales World Vaccine Market (US$ b) 19-9-2018

Crucell Major Independent Player Market shares (2004 sales) Big Pharma Independent vaccine companies 19-9-2018

R&D Leiden, the Netherlands 19-9-2018

Facilities Bern, Switzerland 19-9-2018

Facilities GCVC, Korea 19-9-2018

Marketed products Influenza Typhoid Hepatitis A Hepatitis B 19-9-2018

Late-stage pipeline Projects Preclinical I II III Filing Expected Launch Yellow fever Aerugen DTPw-HepB Quinvaxem Done 2006 H1 2007 2007 2006 KFDA approved 19-9-2018

Growing and optimizing vaccines Increase sales existing products Increase margins existing products Gain approval for new products Optimize capacity utilization 19-9-2018

Early-Stage Pipeline Potential Peak Sales (US$m) Projects Preclinical II III Partner Influenza ‘06 1,500 sanofi aventis West Nile 400 in house Ebola ‘06 100 NIH Malaria ‘06 200 GSK/WRAIR Rabies ‘06 100 in house TB ‘06 100 Aeras Factor V ‘06 1000+ in house 19-9-2018

PER.C6® - Roll out across markets Gene Therapy From 1997 GSK Merck & Co. Wyeth Transgene GenVec Edwards Cell Genesys Molecular Med ML Laboratories Vaccines From 2001 sanofi Pasteur Merck & Co. GSK Chiron/Novartis NIH WRAIR IAVI AERAS Vaxin Kimron Merial MAbs & Proteins From 2002 Roche J & J / Centocor Eli Lilly/ AME Biogen Idec DSM Ferring Merck & Co. Mitsubishi Morphosys Chiron JCR GSK 19-9-2018

Crucell Strategy Vaccines Proteins & Antibodies “growing & optimizing vaccines” Marketing & Sales Research Develop- ment Manu- facturing Technology Vaccines Proteins & Antibodies “Leveraging technology” 19-9-2018

MAb and Protein markets Large and growing at 15% + per year US$ billion 160 MAbs 140 Glycoproteins (mammalian) 120 100 80 60 40 Source: Puilaetco 20 2003 2006 2009 2012 2015 19-9-2018

Proteins : Licensing Business Yield Position PER.C6® as next generation platform CHO, NS/0: Production platforms for most proteins today Most optimization already achieved Time 19-9-2018

2006: Focus on product development, registration and integration Approval by KFDA of Quinvaxem™ (DTP-HepB-Hib) Start of Phase I clinical trials: endemic/pandemic influenza, Ebola, malaria, TB and rabies antibody Continuing licensing business (PER.C6®, STARTM) First protein licensing agreement to be expected Significant cash position to fund development programs 19-9-2018

Share ownership 58.8 million shares outstanding 19-9-2018

Major shareholders Institutional investors Europe Van Herk GO Capital Holland Beleggingsgroep Delta Lloyd/Aviva Institutional investors US Fidelity David M. Knott Mc Cullough Oracle 19-9-2018

Share price performance since IPO October 27, 2000 May 19, 2006 19-9-2018

Trading data CRXL 58.8 mill shares; 13 mill ADS Market cap ~ € 1.25 b 52 week € 14.55 - € 25.40 Avg. daily volume (shares): NASDAQ ~ 170.000 Euronext ~ 450.000 SWX as from February 22, 2006 19-9-2018

For more information: www.crucell.com