First Quarter 2018 Investor Presentation

Investor Presentation First three months of 2018 All 10 PIONEER trials for oral semaglutide expected to read-out during 2018 2016 2017 PIONEER 1: monotherapy² 26 weeks, n=704 PIONEER 2: vs empagliflozin² 52 weeks, n=816 PIONEER 3: vs sitagliptin² 78 weeks, n=1,860 Slide 11 Q1 2018¹ Q2 2018¹ Q3 2018¹ Q4 2018¹ PIONEER 4: vs liraglutide² 52 weeks, n=690 PIONEER 5: moderate renal impairment² 26 weeks, n=324 PIONEER 6: cardiovascular outcomes³ Event driven (>122 MACE), n=3,176 PIONEER 7: flexible dose escalation4 52 weeks, n=500 PIONEER 8: insulin add-on² 26+26 weeks, n=720 PIONEER 9: JAPAN monotherapy² 52 weeks, n=230 PIONEER 10: JAPAN OAD combination4 52 weeks, n=336 1 Expected to be published in the given quarter or in the subsequent quarterly company announcement. Estimated timing from first patient first visit to completion of trial 2 Primary endpoint after 26 weeks of treatment by using the statistical method: Treatment policy estimand approach 3 Primary endpoint after ≥122 major adverse cardiovascular events (MACE), defined by non-fatal stroke, non-fatal myocardial infarction or CV death 4 Primary endpoint after 52 weeks of treatment by using the statistical method: Treatment policy estimand approach Note: n = approximate number of randomised people; OAD: oral anti-diabetic 52 weeks extension trial

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