Investor Presentation Q1 2018

Investor Presentation First three months of 2018 Slide 94 Phase 3 extension trial in adults and phase 2 trial in children for once-weekly somapacitan to conclude in 2018 Somapacitan IGF-1 levels similar to daily Norditropin® in REAL 1 phase 3 AGHD trial Cumulative frequency 100% 80% 60% 40% 20% Baseline Placebo NorditropinⓇ somapacitan Phase 3a AGHD trial succesfully completed, phase 2 GHD read-out expected in 2018 REAL 1: Phase 3a, naïve AGHD Objective: Efficacy (truncal fat %)/safety __ REAL 3: Phase 2, GHD Objective: Dose finding (height velocity)/safety Completed trial Ongoing trial ¡Extension trial> Trial in planning REAL 4: Phase 3, GHD Objective: Efficacy (height velocity)/safety REAL 5: Phase 3, SGA Objective: Efficacy (height velocity)/safety 0% -3 -2 -1 0 1 2 3 2016 2017 2018 2019 IGF-1 standard deviation score IGF-1: Insulin-like growth factor 1; AGHD: Adult growth hormone deficiency Source: Novo Nordisk data on file; REAL 1, NN8640-4054 changing diabetes® Note: Filing for first indication (AGHD) expected in 2018 GHD: Growth hormone deficiency; SGA: Small for gestational age 2020 2021 novo nordisk

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