1. IEX Beleggen in Biotech Dag
Leonard Kruimer
May 20, 2006

2. Disclaimer The presentation contains or may contain forward-looking
statements within the meaning of the U.S. Private Securities
Litigation Reform Act of 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.

3. 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.

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

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

6. Growth Vaccine market 13%/year Sales World Vaccine Market (US$ b)

7. Crucell Major Independent Player Market shares (2004 sales)
Big Pharma
Independent vaccine companies

8. R&D Leiden, the Netherlands

9. Facilities Bern, Switzerland

10. Facilities GCVC, Korea

11. Marketed products
Influenza
Typhoid
Hepatitis A
Hepatitis B

12. 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

13. Growing and optimizing vaccines
Increase sales existing products
Increase margins existing products
Gain approval for new products
Optimize capacity utilization

14. Early-Stage Pipeline Potential Peak Sales (US$m) Projects PreclinicalII
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

15. 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

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

17. 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

18. 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. 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

20. Share ownership 58.8 million shares outstanding

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

22. Share price performance since IPO October 27, 2000
May 19, 2006

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

24. For more information: www.crucell.com