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Investor Presentaiton

R&D investor presentation 40 Phase 1 results for AM833 and semaglutide showed a 17% weight reduction after only 20 weeks % change in body weight Weight loss for different doses of AM833 and semaglutide in phase 1¹ Highlights from phase 1 0 -2 -4 -6 -8 -10 -12 -14 -16 -18 -20 0 4 8 12 Weeks AM833 0.16 mg sema 2.4 mg AM833 0.3 mg sema 2.4 mg AM833 0.6 mg sema 2.4 mg sema 2.4 mg Mean baseline: 95.1 kg 16 AM833 1.2 mg sema 2.4 mg 20 - 9.5% + 17.1% • • AM833 2.4 mg sema 2.4 mg 1 Data are observed means, 20 weeks phase 1b trial dosing increments with semaglutide (sema) and AM833 once-weekly with a 16 week dose-escalation regimen. Data is based on the trial product estimand: treatment effect if all people adhered to treatment and did not initiate other anti-obesity therapies • • 66% of people on AM833 + semaglutide 2.4 mg high dose achieved >15% weight loss in 20 weeks AM833-semaglutide 2.4 mg appeared safe and well-tolerated The level of GI disorders observed was comparable to what was generally seen for GLP-1s in monotherapy Next steps Multi-dose PK study of AM833- semaglutide 2.4 mg expected to be initiated in H2 2020 Phase 3 programme expected to begin in 2021 novo nordisk
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