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Investor Presentaiton

Investor Presentation First nine months of 2018 Slide 66 Continued value growth in the Chinese long-acting insulin segment Chinese insulin market by segment Chinese total insulin value market shares DKK Device penetration - Modern insulin penetration Novo Nordisk billion Penetration 10.0 CAGR value¹: 12.5% CAGR volume¹: 9.4% Sanofi 100% 70% 60% 8.0 6.0 4.0 2.0 80% Fast-acting 50% Premix 60% 40% 30% 40% 20% 20% Long-acting 10% 0.0 Aug 2013 0% 0% Aug 2018 Aug 2013 1 CAGR for 5-year period Note: IQVIA covers around 50% of the total Chinese market (hospital data) Source: IQVIA Rolling MAT Aug, 2018 value (DKK) figures changing diabetes® Eli Lilly Tonghua Dongbao Gan & Lee Other Note: Only selected competitors Source: IQVIA Rolling MAT Aug, 2018 value figures 48% 18% 12% 11% 7% 4% Aug 2018 novo nordisk

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