Investor Presentation - First Nine Months of 2016

Investor presentation First nine months of 2016 Continued solid growth in the Chinese insulin market Chinese insulin market by segments Chinese insulin volume market shares Device penetration Modern Insulin penetration tMU CAGR volume¹: 14.1% Penetration 40 CAGR value¹: 22.7% 100% 70% 35 60% 80% 30 Fast-acting 50% 25 - 60% 40% 20 Premix 30% 15 - 40% 20% 10 20% 5 10% Long-acting 0 0% 0% Aug Aug Aug 2011 2016 2011 1 CAGR for 5-year period Note: IMS covers around 50% of the total Chinese market (hospital data) Source: IMS Monthly MAT August, 2016 volume and value (DKK) figures changing diabetes® Novo Nordisk Slide 49 Eli Lilly Tonghua Dongbao Shanghai Fosun Sanofi Note: Only top-5 shown Source: IMS Monthly MAT August, 2016 volume figures, numbers do not add up to 100% due to smaller insulin manufacturers not included 55% 13% 9% 9% 6% Aug 2016 novo nordisk

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