Investor Presentaiton

Investor presentation First three months of 2017 Slide 80 Anti-IL 21 in combination with liraglutide is an alternative approach for the treatment of type 1 diabetes Phase 2 trial design Anti-IL-21 + liraglutide 1.8 mg Placebo + liraglutide 1.8 mg type 1 diabetes¹ Anti-IL-21 + placebo 304 newly diagnosed people with Placebo + placebo + Week 0 54 80 Dosing Observation Rationale for Anti-IL 21 and liraglutide combination product for T1D Anti-IL 21 plays an important role in autoimmunity with potential effect on immune disorder Effector cells (T and B lymphocytes and natural killer cells) Pro-inflammatory cytokines Autoantibodies Chemokines Matrix metalloproteinase (MMPs) GLP-1 receptor agonist may promote beta-cell recovery Decrease beta-cell stress/apoptosis Stimulate beta-cell neogenesis Expansion of beta-cell mass in rodent models Orphan drug designation granted for the treatment of type 1 diabetes with residual beta cell function in January 2017 1 Inclusion criteria: Subjects diagnosed as type 1 diabetes for not more than 12 weeks prior to randomisation; age 18-45 (both inclusive) Note: If liraglutide 1.8 mg is not tolerated 1.2 mg is administered. ANTI-IL: interleukin changing diabetes® T1D: Type 1 diabetes; MOA: Mode of action. novo nordisk

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