Investor Presentation Full Year 2017

Investor Presentation Full year 2017 The obesity pipeline consists of projects addressing both appetite reduction and energy expenditure How to address obesity from a medical perspective Weight reduction by reducing food intake Appetite reduction changing diabetes Slide 86 Novo Nordisk obesity products and pipeline Projects: Status: 2018 expected: SaxendaⓇ Launched Weight reduction by semaglutide - QW GLP-1 Phase 2 Phase 3 - G530L glucagon analogue¹ Phase 1b Phase 2 increasing AM833 amylin analogue Phase 1b Phase 2 ready energy expenditure PYY1562 - PYY analogue Phase 1b Phase 1b² NN9499 - FGF21 obesity³ NN9277-GG-co-agonist Phase 1a Phase 1b Phase 1a Phase 1b NN9423 - Tri-agonist 1706 Phase 1a Phase 1b Energy expenditure Impact on metabolic changes to increase lipid and glucose metabolism Appetite reduction Appetite reduction and energy expenditure 1 Phase 1 in combination with liraglutide and phase 2 planned in combination with semaglutide 2 Phase 1b completed with monotherapy, phase 1b in combination with semaglutide planned for 2018 3 FGF21 potentially also targets appetite reduction Phase 1a: Single-dose trials; Phase 1b: Multiple-dose trials QW: Once-weekly novo nordisk

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