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Investor Presentaiton

Investor Presentation First nine months of 2018 Slide 70 GLP-1 effect dependent on level of blood glucose GLP-1 mechanism of action when blood sugar levels increase Increases insulin secretion in the pancreas • Reduces glucagon secretion in the liver • Creates sense of satiety in the brain Brain • Slows gastric emptying in the gut GLP-1 lowers blood glucose in patients with type 2 diabetes Type 2 diabetes patients, no GLP-1 Type 2 diabetes patients, with GLP-1 Healthy controls receiving saline Glucose (mmol/L) 18 16 14 12 10 8 6 GLP-1 4 Liver Gut 2 Breakfast Lunch Snack 0 22:00 02:00 06:00 10:00 14:00 18:00 Time changing diabetes Pancreas Source: Rachman et al. Diabetologia 1997;40:205-11 novo nordisk

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