Investor Presentation Q1-Q3 2020

99 Investor presentation First nine months of 2020 US insulin net prices have declined in recent years, yet some patients still struggle with affordability The US population by health insurance coverage Private insurance schemes Uninsured Government insurance schemes List price and net price development for NovoLogⓇvial List price¹ Net price¹ Novo Nordisk insulin affordability offerings in the US Novo NordiskⓇ 48% 8% 333 million people 600 500 44% 400 Note: Government insurance schemes cover Medicare, Medicaid and public exchanges - some of these with high deductibles Source: Census.gov; Congressional Budget Office Health Insurance Coverage 2016- 2026; Medicare Enrollment Dashboard; CMS Health Insurance Enrollment Projection 2015-2025; Medicaid and CHIP Enrollment Report Oct 2017; CMS Insurance Marketplace Fact sheet 2017; CDC.gov 300 200 100 0 2001 2002 2003 2004 2005 2006 2007 2008 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 1 Adjusted for inflation ZIOZ 2 Y-axis represents annual list and net price indices adjusted for CPI-U 2019 • • • Follow-on brand fast-acting (NovologⓇ) and premix insulin (NovologⓇ Mix) with 50% list price discount vs. branded versions My$99Insulin 30-day supply of a combination of Novo Nordisk insulin products (up to 3 vials or 2 packs of pens) for USD 99 Patient Assistance Program free diabetes medication to people in need, annual income <400% above government defined poverty. Program expanded during COVID-19 outbreak if job loss and limited coverage Human insulin for about USD25/vial at national pharmacies, including Walmart and CVS Immediate Supply a short-term, immediate-need program offering free insulin for those at risk of rationing while working to identify a longer-term solution Co-pay Savings Cards providing USD -250 million in assistance in 2019

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