Neurocrine Biosciences : 2021 Annual Report*

2 0 2 1 A N N U A L R E P O R T

12780 EL CAMINO REAL SAN DIEGO, CA 92130

1. 617-7600
   WWW.NEUROCRINE.COM

Neurocrine Biosciences

Corporate Information

Neurocrine Biosciences has four commercial, FDA-approved treatments in the United States and a robust pipeline with multiple mid-to-late-stage programs focused on diseases and disorders across neurology, neuroendocrinology, and neuropsychiatry.

Neurocrine Biosciences is a neuroscience-focused, biopharmaceutical company with a simple purpose: to relieve suffering for people with great needs, but few options. We are dedicated to discovering and developing life-changing treatments for patients with under-addressed neurological, neuroendocrine and neuropsychiatric disorders. The company's diverse portfolio includes FDA-approved treatments for tardive dyskinesia (TD), Parkinson's disease, endometriosis* and uterine fibroids*, as well as over a dozen mid-to-late-stage clinical programs in multiple therapeutic areas. For three decades, we have applied our unique insight into neuroscience and the interconnections between brain and body systems to treat complex conditions. We relentlessly pursue medicines to ease the burden of debilitating diseases and disorders, because you deserve brave science. For more information, visit neurocrine.com, and follow the company on LinkedIn. (*in collaboration with AbbVie)

CORPORATE	Kevin C. Gorman, Ph.D.
MANAGEMENT	Chief Executive Officer
	Matthew C. Abernethy
	Chief Financial Officer
	Eric Benevich
	Chief Commercial Officer
	David W. Boyer
	Chief Corporate Affairs Officer
	Julie S. Cooke
	Chief Human Resources Officer
BOARD OF	William H. Rastetter, Ph.D.
DIRECTORS	Chairman of the Board,
	Neurocrine Biosciences, Inc.
	and Fate Therapeutics
	Kevin C. Gorman, Ph.D.
	Chief Executive Officer,
	Neurocrine Biosciences, Inc.
	Gary A. Lyons
	Former President and Chief Executive
	Officer, Neurocrine Biosciences, Inc.
	Johanna Mercier
	Chief Commercial Officer,
	Gilead Sciences
	George J. Morrow
	Former Executive Vice President,
	GlobalCommercial Operations,
	Amgen Inc.
STOCKHOLDER	Transfer Agent
INFORMATION	American Stock Transfer
	Corporate Counsel
	Cooley LLP

Kyle W. Gano, Ph.D.

Chief Business Development

and Strategy Officer

Darin M. Lippoldt, J.D.

Chief Legal Officer

Malcolm C. Lloyd-Smith

Chief Regulatory Officer

Jude Onyia, Ph. D.

Chief Scientific Officer

Eiry W. Roberts, M.D.

Chief Medical Officer

Leslie V. Norwalk

Former Acting Administrator for the Centers for Medicare & Medicaid Services

Richard F. Pops Chairman of the Board and Chief Executive Officer, Alkermes plc

Shalini Sharp

Former Chief Financial Officer and

Executive Vice President

of Ultragenyx

Stephen A. Sherwin, M.D.

Former Chairman of the Board

and Chief Executive Officer,

Cell Genesys, Inc.

Auditors

Ernst & Young LLP

Dear Fellow Shareholders,

Neurocrine Biosciences is turning 30 this year. As I look back, I am extremely proud of what we have accomplished during that time, most notably, the impact we've made on the lives of patients living with movement disorders like tardive dyskinesia (TD) and Parkinson's disease. The success of INGREZZA has allowed us to reinvest in our company and develop a neurology-focused pipeline that features 12 mid-to-late-stage programs. With this set of clinical assets and others to follow, we have a tremendous opportunity to bring even more treatments to patients who need better options.

This broad pipeline of novel assets is key to the next chapter in Neurocrine Biosciences' history. Each asset has the potential to address serious neurological-related disorders and we expect Phase 2 and registrational study data readouts on a number of these unique compounds throughout this year and into next. We are advancing investigational compounds in areas like schizophrenia and major depressive disorder, where our medicines could be used together with available treatment options to further improve patient outcomes. In some cases, we are developing medicines in areas like congenital adrenal hyperplasia and essential tremor where there have been no new treatment options for over 50 years. And in other disorders, we are advancing programs to address specific rare pediatric epilepsies and dyskinetic cerebral palsy, areas where even today, there are no approved treatment options for patients. We are excited about the potential of Neurocrine Biosciences' pipeline, and what it can mean to the lives of patients around the world.

At the same time, we are proud of the essential role INGREZZA continues to play in addressing TD. INGREZZA continues to be the most prescribed and preferred treatment option for these patients and, despite the challenging impact of the pandemic on patients, prescribers, offices and clinics, more patients were treated with INGREZZA in 2021 than ever before. With roughly 85% of the TD patient population still undiagnosed or not treated at all, we are just beginning to scratch the surface of INGREZZA's full potential. Our strong conviction in the long-term opportunity for INGREZZA is evidenced by the commercial investments we are making to improve diagnosis and treatment rates in 2022 and beyond.

We remain committed to taking on some of the world's toughest health problems and neurological-focused drug development, because we are confident in our balanced pipeline, long-term approach, and judicious investment strategy.

We have strategically positioned Neurocrine Biosciences to efficiently and effectively study multiple mechanisms of action against one disease while researching one compound across multiple indications. Given the nature of our field, we know not everything is going to work. When we do not initially succeed, we learn. And when we are ultimately successful, we make a profound impact on patient lives. It is a tremendous privilege, and a responsibility we do not take lightly. It is also the opportunity that inspires and energizes us every day.

Importantly, Neurocrine Biosciences is delivering for our patients, shareholders, and the communities in which we live and work, simultaneously. Our recently published 2022 Corporate Sustainability Report highlights the environmental, social and governance (ESG) issues most relevant to our business and how we are making

a positive impact in all three areas. In particular, accelerating our efforts in relation to diversity, equity, and inclusion remains a priority. In 2021 we were very pleased to announce the appointment of Ms. Johanna Mercier to our Board of Directors, bringing the percentage of women on our Board to 33%. We also hired the company's first Director of Diversity, Equity and Inclusion, and rolled out unconscious bias training

to all employees. We continue to partner with a number of STEM organizations to promote diversity in the life sciences community. We are honored and humbled to have been named to a number of "Best Places to Work" lists in 2021 in recognition of these initiatives, and others, and as a testament to our winning culture rooted in strong ethics and teamwork.

Upon reflection on the last 30 years, I wish I could say the company has evolved exactly as contemplated in our original business plan, but the truth is, progress is not always linear. It is our ability to take new challenges in stride that has shaped our corporate character and established Neurocrine Biosciences as an innovative leader in the biopharmaceutical industry. With strong commercial momentum and a talented team advancing our pipeline, I am optimistic about the opportunities ahead of us for the next 30 years and beyond.

Sincerely,

Kevin C. Gorman, PH.D.

Chief Executive Officer

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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NEUROCRINE BIOSCIENCES, INC.

12780 El Camino Real

San Diego, CA 92130

Notice of Annual Meeting of Stockholders

To Be Held on May 18, 2022

TO THE STOCKHOLDERS:

NOTICE IS HEREBY GIVEN that the 2022 Annual Meeting of Stockholders of Neurocrine Biosciences, Inc., a Delaware corporation (the "Company"), will be held on May 18, 2022, at 10:30 a.m., local time, at the Company's corporate headquarters located at 12780 El Camino Real, San Diego, California 92130, for the following purposes as more fully described in the Proxy Statement accompanying this Notice:

1. The election of the three nominees for Class II Directors named herein to the Board of Directors to serve for a term of three years;
2. An advisory vote on the compensation paid to the Company's named executive officers;
3. To approve an amendment and restatement of the Company's 2020 Equity Incentive Plan;
4. To approve an amendment and restatement of the Company's 2018 Employee Stock Purchase Plan;
5. The ratification of the appointment of Ernst & Young LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2022; and
6. To transact such other business as may properly come before the Annual Meeting of Stockholders or any continuation, adjournment or postponement thereof.

Only stockholders of record at the close of business on March 21, 2022 are entitled to receive notice of and to vote at the Annual Meeting of Stockholders.

All stockholders are normally invited to attend the Annual Meeting of Stockholders in person. However, due to the COVID-19 pandemic, and our current COVID-19 policies, we strongly urge our stockholders not to attend the Annual Meeting in person this year and to instead submit proxy votes. Our Annual Meeting this year will be purely functional in format to comply with the relevant legal requirements. There will be no presentations or exhibitions. No refreshments will be provided, and any Board members or officers attending the meeting will not meet with stockholders individually. Your vote is important. Whether or not you plan to attend the Annual Meeting, we hope you will vote as soon as possible. You may vote over the Internet, as well as by telephone or by mailing a proxy or voting instruction form. Please review the instructions on each of your voting options described in these proxy materials. Stockholders attending the Annual Meeting may vote in person even if they have returned a proxy.

By Order of the Board of Directors,

Darin Lippoldt

Chief Legal Officer and Corporate Secretary

San Diego, California

April 7, 2022

Important Notice Regarding the Availability of Proxy Materials for the Stockholders'

Meeting to be Held on May 18, 2022 at 10:30 a.m. Local Time at

12780 El Camino Real, San Diego, California 92130.

The proxy statement and annual report to stockholders are available at

www.proxyvote.com. Please have the control number on your proxy card available.