Investor Presentation - First Six Months of 2021

118 Investor presentation First six months of 2021 Solid sales growth driven by Diabetes and Obesity care DKK billion 120 Reported annual sales 2016-2020 CAGR¹ 2.6% 15% 17% 17% 100 20% 16% 80 Financial focus Novo NordiskⓇ • Focus on driving solid sales growth • Gross margin to remain broadly stable • Over time, Research & Development cost ratio to gradually increase 60 80% 83% 85% • Over time, Sales & Distribution cost ratio to gradually decline 84% 84% 40 • Administration cost ratio to decline 20 20 0 2016 1 CAGR for 5-year period 2017 2018 Diabetes and Obesity care 2019 2020 Biopharm

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