Investor Presentation Q1 2023

117 Investor presentation First three months of 2023 Region China remains a key strategic opportunity Region China is a large market with ~140 million people living with diabetes 19% 23% 81% 77% Sales Region China Patients Rest of IO Region China . • Outcome of VBP insulin in China Price cuts ~40-50% as a result of VBP Keeps -50% of own brand volume in scope Resource re-allocation towards growth products Opportunities and strategic priorities • • Large growing diabetes market Market of 26 bDKK mainly consisting of OAD and insulin Diabetes market growth of -11% TRESIBA insulin degludec [rDNA origin] injection human insulin MixtardⓇ30 biphasic insulin NovoMix® (biphasic insulin aspart) LevemirⓇ (insulin detemir) Novo Rapid (insulin aspart) Bring innovation faster to market Diabetes: RybelsusⓇ and ONWARDS programme for Icodec Rare disease: Across portfolio RYZODEG 70% insulin degludec and 30% insulin aspart [rDNA origin] injection Xultophy insulin degludec/liraglutide [rDNA origin] injection OZEMPİC semaglutide injection Treat more patients Expand patient base across new insulins and GLP-1s Note: IQVIA value in China only covers -60% of the market Region China includes Mainland China, Taiwan and Hong Kong; VBP: Volume-based procurement; OAD: Oral anti-diabetes; IO: International Operations Source: Full year 2022 numbers based on Company Announcement (sales) and Diabetes Atlas, 10th edition, (patients)

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