Investor Presentation Q1 2023

66 Investor presentation First three months of 2023 The CagriSema phase 3 programme, REDEFINE, was initiated in the fourth quarter of 2022 REDEFINE 1 trial design REDEFINE 2 trial design CagriSema 2.4 mg/2.4 mg1 N = 3400 N=1200 R 21:3:3:7 Cagrilintide 2.4 mg¹ Semaglutide 2.4 mg1 Placebo¹ CagriSema 2.4 mg/2.4 mg1 R Placebo¹ 3:1 Novo NordiskⓇ F + Week 0 16 + 68 ㅏ + Week 0 16 68 75 75 Dose Treatment Dose escalation Treatment maintenance Follow- up escalation maintenance Follow- up Inclusion criteria REDEFINE 1: Primary endpoints: • BMI: ≥ 30 kg/m² or ≥ 27 kg/m² and ≥1 comorbidity Excludes diabetes diagnosis or HbA1c ≥ 6.5% Change in body weight (%) Achieve ≥ 5% body weight reduction REDEFINE 2: . BMI: ≥ 27 kg/m² Type 2 diabetes, HbA1c < 10% Confirmatory secondary endpoints: Change in waist circumference HbA1c • Systolic blood pressure • Patient reported outcomes² 1As an adjunct to a reduced-calorie diet and increased physical activity in adults with obesity or overweight. 2 Patient reported outcomes include (IWQOL-Lite-CT, SF-36v2, and Vitality score) CagriSema: Cagrilintide in combination with semaglutide; T2DM: Type 2 diabetes; BMI: Body mass index; HbA₁: Hemoglobin A₁; IWQOL-Lite-CT: Impact of weight on quality of life - lite, clinical trials version; Short form 36v2

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