Investor Presentation Q1-Q3 2020

110 Investor presentation First nine months of 2020 Solid operating profit growth driven by Diabetes care DKK billion Operating profit 65 60 60% 50 50% 220 40 30 40% 30% 20 35% 4% 1% -4% 11% 20% 72% 10 13% 6% 5% 3% 6% 10% 0 0% 2015 2016 2017 2018 2019 Operating profit Operating profit as % of sales Reported operating profit growth Operating profit growth at CER *Adjusted for the partial divestment of NNIT A/S and inflammatory out-licensing in 2015; CER: Constant exchange rates Operating profit split per franchise 28% 81% 2015 2019 Diabetes and Obesity care Biopharm 19% Novo NordiskⓇ

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