Investor Presentation - First Six Months of 2021

122 Investor presentation First six months of 2021 Currency impact on Novo Nordisk's P/L Note 2020 2019 Novo NordiskⓇ Financial currency impact All gain/losses from hedging contracts are included in the financial income/expenses All key currencies are hedged: USD 11 months CNY 5 months 22 2.1.2.2 126,945 20,932 122 021 20.088 • 106.014 101.933 Sales and distribution costs 22 32,928 31.823 Research and development costs 22,23 15,462 14220 • JPY 12 months Administrative costs 22 3.958 4,007 Other operating income, net 22.25 460 600 • 54,126 52,483 Operational currency impact All movements in currencies will directly impact the individual reported functional lines of the Novo Nordisk's P&L statement The currency effect on e.g. operating profit growth is the difference between the reported growth and the operating profit growth at CER Key currencies account for around 65-85% of the total currency exposure No hedging effects are included in the operating profit Sensitivity table gives an indication of gain/loss of a 5% immediate change in exchange rates compared to exchange rates on announcement day DKK million Income statement Net sales Cost of goods sold Gross profit Operating profit Net profit Note: Example is based on Annual Report 2020 Financial income ¡Financial expenses 4.9 2624 Profit before income taxes 53,130 Income taxes 2.6 10,992 42,138 3,995 48,553 9,602 38,951 Earnings per share Basic earnings per share (DKK) 4.1 18.05 16.41 Diluted eamings per share (DKK) 4.1 18.01 16.38 CAD 9 months GBP 10 months Hedging is primarily performed with the use of forward contracts Net financials includes hedging gain/loss including the cost of hedging and the effect from currency gain/losses of balances in non-hedged currencies Hedging costs are the interest rate differentials between DKK and hedged currencies

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