Investor Presentaiton

Highlights - Investor Presentation First nine months of 2018 Slide 22 First nine months of 2018 Sales hl Insulin GLP-1 Obesity Innovation Organisation • . • • • • • • Financials Continued solid sales growth of 4%, predominantly driven by International Operations Sales growth is now expected to be 4-5% measured in local currencies, up from previously 3-5% Insulin sales decreased by 1%, however Novo Nordisk has expanded its leading global insulin volume market share to 46%, driven by TresibaⓇ and XultophyⓇ growing sales by 15% and 161%¹ GLP-1 sales increased by 18% driving 84% of total growth Ozempic® is off to a strong start and strengthening the total Novo Nordisk market share and expanding the GLP-1 market Novo Nordisk is the global market leader with 47% value market share in the GLP-1 market¹ SaxendaⓇ sales increased by 53% driving 28% of total sales growth Novo Nordisk is expanding the global leadership position in obesity and now holds a 43% value market share The PIONEER programme for oral semaglutide is nearing completion and eight trials have now been successfully completed First clinical trial with the next generation oral GLP-1 has been initiated Novo Nordisk expands its growth hormone business with the acquisition of the North American rights to Macrilen™ A number of restructuring initiatives across functions and geographies have been initiated to support R&D and commercial activities for the portfolio of innovative products with an expected reduction of the workforce by 1,300 employees by the end of 2018 Operating profit increased by 4% in the first nine months when adjusting for the severance costs and operating profit growth for 2018 is still expected to be 2-5% Solid cash-flow generation leads to an increased share buy-back with DKK 1 billion to DKK 15 billion 1 Sales growth in local currencies and market shares based on MAT Aug 2018

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