Investor Presentation - First Six Months of 2021

123 Investor presentation First six months of 2021 Currencies are negatively impacting operating profit I Avg. H1 2021 vs. Avg. H1 2020 Exp. Avg FY 2021' vs. FY 2020 6% 2% Hedged -2% -6% -10% USD/DKK CNY/DKK JPY/DKK CAD/DKK GBP/DKK Novo NordiskⓇ H1 2021 Negative impact on operating profit of DKK 3.0 billion • Foreign exchange net gain of DKK 1.0 billion FY 2021 Outlook Estimated negative impact on operating profit around 5%-points Estimated gain of around DKK 0.7 billion on hedging: 5% -10% Non- hedged -25% -40% • RUB/DKK INR/DKK ARS/DKK BRL/DKK TRY/DKK 1 Year-to-date realised data and remainder expected flat currency development based on the spot rate as of 30 July 2021 • Mainly related to the US dollar • Reflecting lower than 12 months hedging period • Hedging costs Non-hedged currencies

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