Full Year 2023 Investor Presentation

127 Investor presentation Full year 2023 Region China remains a key strategic opportunity Region China is a large market with ~140 million people living with diabetes 17% 23% 83% 77% Sales Region China Patients Rest of IO Region China Opportunities and strategic priorities Large growing diabetes market Market of 25 bDKK mainly consisting of OAD and insulin Diabetes market growth of ~-10% . • Outcome of VBP insulin in China Price cut ~40-50% as a result of VBP Retained -50% of own brand volume in scope Resource re-allocation towards growth products • • TRESIBA insulin degludec [rDNA origin] injection human insulin MixtardⓇ30 biphasic insulin NovoMix® (biphasic insulin aspart) LevemirⓇ (insulin detemir) Novo Rapid (insulin aspart) Bring innovation faster to market Diabetes: Rybelsus® and Icodec Rare disease: Across portfolio RYZODEG 70% insulin degludec and 30% insulin aspart [rDNA origin] injection Xultophy insulin degludec/liraglutide [rDNA origin] injection OZEMPİC semaglutide injection VBP: Volume-based procurement; OAD: Oral anti-diabetes; IO: International Operations Note: IQVIA value in China only covers -60% of the market; Region China includes Mainland China, Taiwan and Hong Kong Source: Full year 2023 numbers based on Company Announcement (sales) and Diabetes Atlas, 10th edition, (patients) B Treat more patients Expand patient base across new insulins and GLP-1s

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