Investor Presentaiton

Investor Presentation First six months of 2018 Slide 55 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 Sanofi CAGR value¹: 13.0% 10.0 100% 70% 60% 8.0 80% Fast-acting 50% 6.0 4.0 Premix 60% 40% 30% 40% 20% 2.0 20% Long-acting 10% 0.0 May 2013 0% 0% May May 2018 2013 1 CAGR for 5-year period Note: IMS covers around 50% of the total Chinese market (hospital data) Source: IQVIA Rolling MAT May, 2018 value (DKK) figures changing diabetes® Eli Lilly Tonghua Dongbao Gan & Lee Other Note: Only selected competitors Source: IQVIA Rolling MAT May, 2018 value figures .49% 18% 12% 11% 7% 4% May 2018 novo nordisk

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