Investor Presentaiton

Investor Presentation First six months of 2018 Slide 54 Solid volume growth in the Chinese insulin market Chinese insulin market by segment Device penetration tMU CAGR volume¹: 10.0% 55 CAGR value¹: 13.0% 50 45 40 35 30 25 20 15 10 5 0 May 2013 Chinese insulin volume market shares Novo Nordisk Eli Lilly Gan & Lee Tonghua Dongbao Other - Modern insulin penetration Penetration Sanofi 100% 70% 60% 80% Fast-acting 50% 60% 40% 30% Premix 40% 20% 20% 10% Long-acting 0% 0% May 2018 May 2013 1 CAGR for 5-year period Note: IQVIA covers around 50% of the total Chinese market (hospital data) Source: IQVIA monthly MAT May, 2018 volume and value (DKK) figures changing diabetes® .52% 13% 12% 10% 7% 6% May 2018 Note: Only selected competitors shown Source: IQVIA monthly MAT May, 2018 volume figures, numbers do not add up to 100% due to smaller insulin manufacturers not included novo nordisk

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