We discover, we dare, we care

Investor Relations slides | May 2020

Disclaimer

This presentation contains forward-looking statements, including (without limitation) statements concerning the progress of our clinical pipeline, the statements regardingthe global R&D collaboration with Gilead, the amount and timing of potential future milestone, opt-in and/or royalty payments by Gilead, statements relating to interactionswith regulatory authorities, the potential approval process for filgotinib and statements relating to the build-up of our commercial organization, the impact of COVID-19,and our strategy, business plans and focus, the slides captioned “GLPG: success story with strong fundamentals” “Looking forward to a newsflow rich 2020” “Pipeline withsignificant newsflow in 2020” “Deep, early pipeline” “Filgotinib: potential for 5 launches in 4 years” “Global inflammation market $65B by 2027” “Filgotinib’s JAK1 inhibitionaddresses inflammation…” “…without liabilities of off-target effects” “Filgotinib: GLPG’s commercial footprint” “Building an IPF & fibrosis portfolio” “ziritaxestat pathwayclinically validated” “ISABELA timeline” “PINTA Phase 2 in IPF” “NOVESA Phase 2 in SSc” “ROCCELLA Phase 2b trial” “Toledo robust activity in in vivo models” “Strongfinancials” “A newsflow rich 2020” “Pioneering for patients,” all slides pertaining to the collaboration with Gilead announced on 14 July 2019, statements regarding theexpected timing, design and readouts of ongoing and planned clinical trials (i) with filgotinib in RA, IBD, and other potential indications (ii) with ziritaxestat and GLPG1205in IPF and Ssc, (iii) with the Toledo program, (iv) with GLPG1972 in OA, and expectations regarding the commercial potential of our product candidates. When used in thispresentation, the words “anticipate,” “believe,” “can,” “could,” “estimate,” “expect,” “intend,” “is designed to,” “may,” “might,” “will,” “plan,” “potential,” “possible,”“predict,” “objective,” “should,” and similar expressions are intended to identify forward-looking statements.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which might cause the actual results, financial condition, performance orachievements of Galapagos, or industry results, to be materially different from any future results, financial conditions, performance or achievements expressed or impliedby such forward-looking statements. Among the factors that may result in differences are the inherent uncertainties associated with competitive developments, clinical trialand product development activities, regulatory approval requirements (including that data from the company's development programs may not support registration orfurther development of its compounds due to safety, efficacy or other reasons, and the uncertainties relating to the impact of the COVID-19 pandemic), reliance on thirdparties (including Galapagos’ collaboration partners Gilead and Servier) and estimating the commercial potential of its product candidates. A further list and description ofthese risks, uncertainties and other risks can be found in Galapagos’ Securities and Exchange Commission (“SEC”) filing and reports, including Galapagos’ most recentForm 20-F and subsequent filings with the SEC. Given these uncertainties, you are advised not to place any undue reliance on such forward-looking statements.

All statements herein speak only as of the release date of this document. Galapagos expressly disclaims any obligation to update any statement in this document to reflectany change in future development with respect thereto, any future results, or any change in events, conditions and/or circumstances, on which any statement is based,unless specifically required by law or regulation.

Under no circumstances may any copy of this presentation, if obtained, be retained, copied, or transmitted.

GLPG: success story with strong fundamentals

Novel MoA drugs close to market

Strong financials,

incl. €5.7B cash

Gilead collaboration

Filgotinib: Potential

approvals/launches in RA

Topline Ph2+ data from 4

trials in 2020

Solid fundamentals

Long termopportunities

>30 early programs

such as Toledo

Novel target discovery

engine

Topline data:filgotinib Ph3 UC

‘1205 Ph2 IPF

ziritaxestat Ph2 SSc

‘1972 Ph2b OA

Anticipated approvals: filgotinib in RA in US, Europe, Japan

Looking forward toa newsflow rich 2020

Galapagos overview

Note: All values as per 31-03-2020

Foundedin 1999

HeadquartersMechelen, Belgium

ListingsEuronext & Nasdaq: GLPG

SITESFAST FACTS DRUG DEVELOPMENT

We discover novel targets

balanced unbalanced

area preclinical phase 1 phase 2 phase 3

multiple indications, submitted for RA

in Ph3 and Ph2

Ph2b underway

>30 programs

filgotinib

IPF/fibrosis

osteoarthritis

inflammation,

fibrosis, other

Ph1 programsToledo

approval

Pipeline with significant newsflow in 2020

Deep, early pipeline

30validated targets

15 programs in LO

5PCCs

4Ph1 programs

‘4471 – inflammation

‘4399 – inflammation‘4259 – inflammation‘4124 – fibrosis‘4059 – metabolic

‘3970 – inflammation‘3667 – inflammation

‘555 – inflammation‘2737 – kidney disease

FilgotinibPipeline in a product opportunity

Filgotinib: potential for 5 launches in next 4 years

dis

ea

se

are

aphase 2 phase 3 status

RA

UC

CD

PsA

AS

Other

submitted in US, Europe, Japan

Ph3 topline Q2´20

RA: rheumatoid arthritis CD: Crohn’s disease UC: ulcerative colitis AS: ankylosing spondylitis PsA: psoriatic arthritis

trials ongoing, recruitment

on hold (COVID-19)

Global inflammation market $65B by 2027

AS~6

PsA~9

RA~26

CD~16

UC~8

Estimated market size, $B

Source: Galapagos estimates, Decision Resources Group

RA: rheumatoid arthritis CD: Crohn’s disease UC: ulcerative colitis AS: ankylosing spondylitis PsA: psoriatic arthritis

Phase 3 FINCH program in RA100 and 200 mg

FINCH 1: MTX - IR ACR20 at W12MTX add-onadalimumab controlradiographic assessment

1,759 52 weeks

449 24 weeks ACR20 at W12cDMARD add-on

FINCH 3: MTX naïve 1,252 52 weeks ACR20 at W24monotherapy, +MTX armsradiographic assessment

FINCH 2: biologic - IR

ACR20: primary endpoint

FIL: filgotinib; ADA: adalimumab; MTX: methotrexate; PBO: placeboNote: MTX-IR population (inadequate response to MTX); all arms were on a stable dose of MTX

W12

76.6

69.8 70.8

49.9

0

20

40

60

80

100

FIL 200 mg + MTX FIL 100 mg + MTX ADA 40 mg + MTX PBO + MTX

ACR20 r

esp

onders

(%

subje

cts)

Δ 26.7%; p < 0.001

Δ 19.9%; p < 0.001

76.6

47.2

26.3

69.8

36.3

18.5

70.8

35.1

14.2

49.9

19.8

6.7

0

20

40

60

80

100

ACR20 responders (% subjects) ACR50 responders (% subjects) ACR70 responders (% subjects)

FIL 200 mg + MTX FIL 100 mg + MTX ADA 40 mg + MTX PBO + MTX

ACR20/50/70

FIL: filgotinib; ADA: adalimumab; MTX: methotrexate; PBO: placeboNote: MTX-IR population (inadequate response to MTX); all arms were on a stable dose of MTXPress release. Gilead Sciences, Inc. and Galapagos NV. March 28, 2019

W12Δ 26.7%p < 0.001

Δ 19.9%p < 0.001

Δ 27.4%p < 0.001

Δ 16.5%p < 0.001

Δ 19.6%p < 0.001

Δ 11.8%p < 0.001

LDA & clinical remission

*p<0.001, **p<0.01, non-inferiority to ADA; # p<0.01, superiority to ADA; † Comparison not adjusted for multiplicityFIL: filgotinib; ADA: adalimumab; MTX: methotrexate; PBO: placebo; CRP: C-reactive protein; DAS: disease activity scoreNote: MTX-IR population (inadequate response to MTX); all arms were on a stable dose of MTXPress release. Gilead Sciences, Inc. and Galapagos NV. March 28, 2019

W12

49.7*

33.9#†38.8

23.8**†

43.4

23.723.4

9.3

0

20

40

60

80

100

LDA - DAS28(CRP) ≤3.2 (% subjects) Remission - DAS28(CRP) ≤2.6 (% subjects)

FIL 200 mg + MTX FIL 100 mg + MTX ADA 40 mg + MTX PBO + MTX

Δ 26.3%p < 0.001

Δ 15.4%p < 0.001 Δ 24.6%

p < 0.001

Δ 14.5%p < 0.001

Radiographic progression

FIL: filgotinib; ADA: adalimumab; MTX: methotrexate; PBO: placebo; mTSS: modified total Sharp scoresNote: MTX-IR population (inadequate response to MTX); all arms were on a stable dose of MTX

W24

0.13

0.17 0.16

0.38

0

0.1

0.2

0.3

0.4

0.5

FIL 200 mg + MTX FIL 100 mg + MTX ADA 40 mg + MTX PBO + MTX

Mean m

TSS c

hange f

rom

base

line

Δ -0.28; p < 0.001

Δ -0.26; p < 0.001

ACR20: primary endpoint

FIL: filgotinib; MTX: methotrexate; PBO: placebo; csDMARD: conventional synthetic disease-modifying antirheumatic drugNote: MTX-IR population (inadequate response to MTX); all arms were on a stable dose of MTXData derived from Genovese MC, et al. ACR Annual Meeting 2018; abstract L06; poster presentation

W12

66

57.5

31.1

0

20

40

60

80

100

FIL 200 mg + csDMARD FIL 100 mg + csDMARD PBO + csDMARD

ACR20 r

esp

onders

(%

subje

cts)

Δ 26.4%; p < 0.001

Δ 34.9%; p < 0.001

66

42.9

21.8

57.5

32

14.4

31.1

14.9

6.8

0

20

40

60

80

100

ACR20 responders (% subjects) ACR50 responders (% subjects) ACR70 responders (% subjects)

ACR20/5

0/7

0 r

esp

onders

(%

subje

cts)

FIL 200 mg + csDMARD FIL 100 mg + csDMARD PBO + csDMARD

ACR20/50/70

FIL: filgotinib; MTX: methotrexate; PBO: placebo; csDMARD: conventional synthetic disease-modifying antirheumatic drugNote: MTX-IR population (inadequate response to MTX); all arms were on a stable dose of MTXData derived from Genovese MC, et al. ACR Annual Meeting 2018; abstract L06; poster presentation

W12

Δ 34.9%p < 0.001

Δ 26.4%p < 0.001

Δ 28.0%p < 0.001

Δ 17.1%p < 0.001

Δ 15.0%p < 0.001

Δ 7.6%

LDA & clinical remission

FIL: filgotinib; MTX: methotrexate; PBO: placebo; csDMARD: conventional synthetic disease-modifying antirheumatic drug; CRP: C-reactive protein; DAS: disease activity scoreNote: MTX-IR population (inadequate response to MTX); all arms were on a stable dose of MTXData derived from Genovese MC, et al. ACR Annual Meeting 2018; abstract L06; poster presentation

W12

40.8

22.4

37.3

25.5

15.5

8.1

0

20

40

60

80

100

LDA - DAS28(CRP) ≤3.2 (% subjects) Remission - DAS28(CRP) ≤2.6 (% subjects)

FIL 200 mg + csDMARD FIL 100 mg + csDMARD PBO + csDMARD

Δ 25.3%p < 0.001

Δ 21.8%p < 0.001

Δ 14.3%p < 0.001

Δ 17.4%p < 0.001

81 80.2 78.1

71.4

0

20

40

60

80

100

FIL 200 mg + MTX FIL 100 mg + MTX FIL 200 mgmonotherapy

MTX

ACR20 r

esp

onders

(%

subje

cts)

ACR20: primary endpoint

FIL: filgotinib; MTX: methotrexate; PBO: placeboNote: MTX-naïve population

W24Δ 9.6%; p < 0.001

Δ 8.8%; p < 0.05

ACR20/50/70

*Comparison not adjusted for multiplicityFIL: filgotinib; MTX: methotrexate; PBO: placeboNote: MTX-naïve populationPress release. Gilead Sciences, Inc. and Galapagos NV. March 28, 2019

W24

81

61.5

43.8

80.2

57

40.1

78.1

58.1

40

71.4

45.7

26

0

20

40

60

80

100

ACR20 responders (% subjects) ACR50 responders (% subjects) ACR70 responders (% subjects)

FIL 200 mg + MTX FIL 100 mg + MTX FIL 200 mg monotherapy MTX

p < 0.05

p < 0.001

p < 0.01*

p < 0.01

p < 0.001

p < 0.001*

p < 0.01

p < 0.001

Clinical remission

*Comparison not adjusted for multiplicityFIL: filgotinib; MTX: methotrexate; PBO: placeboNote: MTX-naïve populationPress release. Gilead Sciences, Inc. and Galapagos NV. March 28, 2019

W24

54.1

42.5 42.4

29.1

0

20

40

60

80

100

FIL 200 mg + MTX FIL 100 mg + MTX FIL 200 mgmonotherapy

MTX

DAS28(C

RP)

≤2.6

(%

subje

cts)

Δ 13.4%; p < 0.001

Δ 25%; p < 0.001

Δ 13.3%; p < 0.001*

FINCH safety data up to week 24

N (%)

PBO/MTXADA

40 mg EOWFIL 100 mg +

MTX/cDMARDsFIL 200 mg +

MTX/cDMARDsFIL 200 mg

monotherapyFILtotal

N=1039 N=325 N=840 N=1038 N=210 N=2088

serious infection 10 (1.0) 8 (2.5) 13 (1.5) 13 (1.3) 3 (1.4) 29 (1.4)

herpes zoster 4 (0.4) 2 (0.6) 5 (0.6) 6 (0.6) 1 (0.5) 12 (0.6)

DVT/PE 3 (0.3) 0 (0) 0 (0) 1 (0.2)* 0 (0) 1 (<0.1)

deaths 2 (0.2) 0 (0) 1 (0.1) 3 (0.3) 0 (0) 4 (0.2)

malignancy excl. NMSC

4 (0.4) 1 (0.3) 1 (0.1) 0 (0) 0 (0) 1 (<0.1)

MACE 5 (0.5) 1 (0.3) 2 (0.2) 2 (0.2) 1 (0.5) 5 (0.2)

Note: FINCH 1, 2, and 3 events up to week 24*Excludes retinal vein occlusion observed in FINCH 2FIL: filgotinib; ADA: adalimumab; MTX: methotrexate; PBO: placebo; csDMARD: conventional synthetic disease-modifying antirheumatic drug; DVT: deep vein thrombosis; PE: pulmonary embolism; NMSC: nonmelanoma skin carcinoma; MACE: major cardiovascular event

FINCH summary up to W24

Dose-dependent efficacy data on clinically meaningful endpoints

• ACR50/70

• DAS remission

• radiographic progression

Safety data

• very low rates of serious infection, DVT/PE, MACE, death

• normalizing of abnormalities associated with RA (Hb, platelets)

• higher % change in HDL vs LDL

No dose-dependent difference on safety data

Note: Filgotinib is a compound in development by Gilead and Galapagos. The summary above was derived from the filgotinib FINCH trial data up to week 24 (Gilead and Galapagos press releases dated 29 March 2019). Data from the FINCH 1 and FINCH 3 trials will be presented at EULAR 2019.

Supports best-in-class potential in RA

Filgotinib’s JAK1 inhibition addresses inflammation…

Active in MTX-naïve to bDMARD-IR patients

Treatment effect maintained (156 wks)

Clinical benefits seen early

Note: DARWIN 3 dose is 200mg

…without liabilities of off-target effects

No. (%)PBO/MTX

adalimumab40mg EOW

filgotinibtotal

N=1039 N=325 N=2088

serious infection

10 (1.0) 8 (2.5) 29 (1.4)

herpes zoster

4 (0.4) 2 (0.6) 12 (0.6)

DVT/PE 3 (0.3) 0 (0) 1 (<0.1)^

deaths 2 (0.2) 0 (0) 4 (0.2)

^ = excludes 1 case of retinal vein occlusionSource: Winthrop et al., ACR 2019; Kavanaugh et al., ACR 2019

FINCH programup to wk24

Long term safety data

event per

100 PYE

filgotinib

50-200 mg

DARWIN 3 week 156

patient year exp. 2,203

serious infection 1.0

herpes zoster 1.5

DVT/PE2/2,203*

0.1

deaths 0.2

Data on file; DVT/PE = deep venous thrombosis/pulmonary embolism* one single patient experiencing DVT and PE

FilgotinibJAK1 selectivity

From: “Ex Vivo Comparison of Baricitinib, Upadacitinib, Filgotinib, and Tofacitinib for Cytokine Signaling in Human Leukocyte Subpopulations,” McInnes et al, ACR 2017

JAK1 vs JAK2

JAK1 vs JAK3

0

5

10

15

20

25

30

filgotinib filgotinib

Normalizing RA lab abnormalities

Note: Filgotinib is a compound in development by Gilead and Galapagos. Data above derived from Westhovens et al, and Kavanaugh et al

-0.6

-0.4

-0.2

0

0.2

0.4

0.6

pbo 100mgqd

200mgqd

pbo 2mg qd 4mg qd pbo 5mg bid 10mgbid

pbo 6mg bid 12mgbid

18mgbid

filgotinib baricitinib tofacitinib upadacitinibbaricitinib tofacitinib upadacitinib

-40

-30

-20

-10

0

10

20

30

pbo 100mgqd

200mgqd

pbo 2mg qd 4mg qd pbo 5mgbid

10mgbid

pbo

filgotinib baricitinib tofacitinib

Mean c

hange fro

m b

ase

line

platelets, (giga/L), W12

filgotinib

Hb, (g/dL), W12

Filgotinib: GLPG’s commercial footprint

Rheuma & IBD – Benelux

IBD – UK/Germany

Rheuma – France/Italy/Spain

Ramping up for competitive launch of filgotinib in RA in H2 ‘20

Phase 3 SELECTION program in UC

200 mg

100 mg

placebo

Inductionendpointsweek 10

Biologicnaive

baseline

200 mg

100 mg

placebo

Biologicexp.

resp

onders

re-r

andom

ized

week 11

Maintenanceendpointsweek 58

200 mg

placebo

100 mg

placebo

placebo responders remain on placebo

long t

erm

exte

nsi

on s

tudy

non-responders/worsening of disease: go to LTE

Progressive lung fibrosis leading to death

• 250k cases in US & EU

• 75k new cases every year

• Median survival 2-5 years

ziritaxestatFor idiopathic pulmonary fibrosis (IPF)

IPF $2.8B market with large unmet needs

Sources: Global Data, Maher et al. BMC Pulmonary Medicine (2017) 17:124, sales figures from Roche (pirfenidone; Esbriet®) and Boehringer Ingelheim (nintedanib; Ofev®)Note: FVC = Forced vital capacity

2019 drug sales: $2.8B

nintedanib & pirfenidonehave limitations

• slow FVC decline

• poor tolerability for patients

• ~25% annual discontinuations

pirfenidone nintedanib

Building an IPF & fibrosis portfolio

Status end ‘19

Status end ‘20 (projected)

futility H1 ‘21

topline H2 ‘20

topline H2 ‘20

PCC 2020

pro

gra

ms

next stepspreclinical Ph1

ziritaxestat (autotaxin) ISABELA IPF

‘1205 (GPR84) PINTA IPF

ziritaxestat NOVESA SSc

New programs

Ph2 Ph3

Two toplines in H2 ’20, ISABELA futility in H1 ‘21

FLORA in The Lancet Respir Med

Positive ziritexestat data in patients

Flora

FVC stabilization over 12-week period

ziritaxestat 600mg QDPlacebo

Placeboziritaxestat

BSLN=6N=17

*= p<0.05

4N=3N=16

8N=4N=15

12N=4N=13

FUN=4N=15

Functional respiratory imaging tracks ahead of FVC

FRI indicates disease stabilization

Flora

Strong biomarker reduction

Flora

Reduction of LPA18:2 in blood plasma

Biomarker reduction = target engagement

ziritaxestat 600mg QDPlacebo

Placeboziritaxestat

BSLN=6N=17

**= p<0.01

4N=5N=16

12N=6N=15

FUN=5N=15

ziritaxestat pathway clinically validatedLPA1 inhibition has impact

• BMS-986020 reduced FVC decline

• Study stopped due to off-target cholecystitis

• BMS-986020 inhibits LPA1

• ‘1690, an autotaxin inhibitor, markedly reduces LPA1 levels

-160

-140

-120

-100

-80

-60

-40

-20

0Placebo

BMS-986020 (600mg QD)

BMS-986020 (600mg BID)

* p<0.05

N=47

N=48

N=48

placebo BMS-986020600mg QD

BMS-986020600mg BID

Slope estimate over 26 weeks (ml)

Source: Chest. 2018 Sep 7. pii: S0012-3692(18)32411-5

Phase 3 program ISABELA 1&2

• 1500 IPF patients total in two identical Phase 3 studies

• Patients remain on standard of care throughout

• Global program with US & EU component

• Primary endpoint: FVC decline at 52 weeks

• Secondary: hospitalizations, mortality, quality of life, safety/tolerability

Topline Part 1 expected Q3 ‘18ziritaxestat 600mg

placebo

At least 52 weeks

screening follow-up

ziritaxestat 200mg

ziritaxestat has orphan status in IPF in US and EC

ISABELA participating countries

* As of Nov 8, 2019

ISABELA, innovative program in IPF

Largest IPFprogram thus far

Assesses efficacy & safety in real world setting

Controlled data on medically-relevant, hard endpoints like changes in FVC, mortality rates, respiratory-related hospitalizations and PROs

Large safety dataset in 1500 patients over 52 weeks or longer

ISABELATimeline

2019 2020 2021 2022 2023

H1 2021

Futilityoutcome

Toplinedata

March 2020

>800 patients randomized

PINTA Phase 2 in IPF

• 60 IPF patients on local standard of care

• Primary endpoint: forced vital capacity (FVC) at 26 weeks

• Secondary: safety, tolerability, broad range of measurements, incl. FRI

• Recruitment in 9 countries in Europe, North Africa, & Middle East

FRI = Functional respiratory imaging

GLPG1205, 100mg once daily (n=40)screening

26 weeks

follow-upplacebo (n=20)

Topline data expected in H2

Systemic sclerosis (SSc)

• Multi-organ (“systemic”) fibrosis

• Rare disease: ~95k patients1

• Among the highest mortality of all autoimmune/rheumatic diseases2

• No approved anti-fibrotic drugs3

1 Global Data 2014; 2 Nikpour et al Curr Opin Rheumatol. 2014; 3 Denton et al Lancet 2017

NOVESA Phase 2 in SSc

• 30 patients with progressive diffuse (multi-organ) SSc

• Recruitment in US & 5 EU countries

• Primary endpoint: modified Rodnan Skin Score at 24 weeks

• Secondary & exploratory endpoints: safety, tolerability, broad range of measures (FVC, QoL, CRISS)

24 weeks

ziritaxestat, 600mg oral once daily (n=20)

4 weeks

screening

24 weeks 12 weeks

follow-up

placebo (n=10)

NOVESA topline data expected in H2,orphan status in SSc in US and EC

Breakdown of joint cartilage

• 118 M patients in US, Europe& Japan

• No disease-modifying drugs approved today

GLPG1972For osteoarthritis (OA)

‘1972 low dose

‘1972 medium dose

‘1972 high dose

vehicle

‘1972 protects cartilageHistopathology in mouse model

Source: Amantini et al OARSI 2018

cartilage

-20

0

20

40

60

1 8 15 22 29 36 43 50

AR

GS

% r

ed

ucti

on

vs b

aseli

ne

days post-dosing

placebo

‘1972 dose 1

‘1972 dose 2

‘1972 dose 3

Reduction of ARGS‘1972 Phase 1b study in OA patients

Dose-dependent reduction of ARGS, well-tolerated in OA patients

se

rum

AR

GS

% r

ed

ucti

on

vs b

ase

lin

e

high dose

med dose

low dose

placebo

days post dosing

ROCCELLA Phase 2b trial

• 900+ patients with knee osteoarthritis, recruited globally

• Primary endpoint: reduction in cartilage loss at 52 weeks

• Secondary: structural & clinical parameters (incl. pain & function), safety/tolerability

FDA granted fast track statusTopline data expected H2 ‘20

Topline Part 1 expected Q3 ‘18‘1972 dose C

placebo

52 weeks

screening follow-up

‘1972 dose B

‘1972 dose A

• novel, undisclosed target

• dual action on inflammation

• IBD models show strong activity

• ‘3970 prioritized after Ph1

Toledoin inflammation

disease

autoimmune

immune imbalance

disease resolution

immune balance restored

Toledo

immune balance

healthy

Restoring the immune imbalance

current therapies

autoimmune

immune suppression

immunoregulatory immunoregulatory

immunoregulatory

immunoregulatory

pro-inflammatory pro-inflammatory

pro-inflammatory

pro-inflammatory

Efficacy in arthritis models with ‘3970

Source: internal data on file

clin

icalsc

ore

AU

C (

D32-D

47)

***p < 0.001

diseased ‘3970

clin

icalsc

ore

AU

C (

D7-D

44)

diseased ‘3970

*** ***

Robust efficacy demonstrated across preclinical models of arthritis with 2nd gen Toledo

***p < 0.001

CIA model PsA model IL-23-induced

TOLEDO’s expanding family

TOL1

TOL2

TOL3

Different selectivity profiles

• ‘3312 pan-TOL

• ‘3970 TOL2 & TOL3 selective

‘3312

‘3970

Third candidate nominated

• ‘4399 TOL3 selective

‘4399

Toledo: robust activity in in vivo models

2020

‘3312PanTOL

TOL2/3

TOL3

‘3970

‘4399

2020

LO

5th gen

4th gen

LO

2020

IBD RA Pso PsA SLE OP Fib

2020 2020

green: preclinical activity; orange: insufficient preclinical activity

Servier: ‘1972 ex-US

$260M milestonessingle digit % royalties

AbbVie: CF

$45M upfront, $200M milestonessingle to double digit % royalties

Partnerships beyondGilead

Gilead-Galapagos collaborationUnique deal in life sciences, with independence anchored

10 YearCollaboration& standstill

$3.95 Bupfront

plus opt-in fees& milestones

$1.5 Bequity investment¹

20+%royalties

Galapagos retains full European rights

¹Includes $1.1B equity investment at deal closing plus exercise of Initial Warrant A

Going forward

Build commercial infrastructure EU

• Big5 + Benelux for filgotinib• Whole of Europe for others

Progress pipeline

Expand organization

• Double R&D• Grow support departments• Expand facilities

Growing geographic footprintBuilding out a European commercial presence

2020 – 2021 filgotinib

• Benelux

• France, Italy, Spain

• UK, Germany

2022 – 2023

• Roll out in rest of Europe

• Future products

Strong financials

€2.9Bdeferred revenues

€5.7B cash FY20 cash burn

€400-430M

Topline data:

SELECTION filgotinib Ph3 UC

PINTA ‘1205 Ph2 IPF

NOVESA ziritaxestat Ph2 SSc

ROCCELLA ‘1972 Ph2b OA

Anticipated approvals:

filgotinib in RA in US, Europe, Japan

A newsflow rich 2020

We discover.

We dare.

We care.

Pioneeringfor patients