Novo Nordisk Investor Presentation - First Nine Months of 2016

Profitability per segment DKK billion Diabetes P&L - full year 2015 100 -16% 80 -29% 60 40 20 Investor presentation First nine months of 2016 Slide 104 - Biopharmaceuticals¹ P&L – full year 2015 DKK billion 30 24 -11% -15% 18 -14% -4% +1% 57% -12% -4% +1% 40% 12 Sales COGS S&D R&D Admin OOI OP 6 Sales COGS S&D R&D Admin OOI OP P&L: Profit and Loss; COGS: Cost of goods sold; OOI: Other operating income; OP: Operating profit 1 Excluding inflammation changing diabetes novo nordisk

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