Investor Presentaiton

Investor Presentation First six months of 2018 Slide 83 SaxendaⓇ now launched in 30 countries SaxendaⓇ value share of anti-obesity medications in selected countries SaxendaⓇ sales in H1 2018¹ Mexico Germany 100% Australia Italy USA Brazil UAE Canada DKK SaxendaⓇ local currency growth Denmark Spain million 2,000 91% 50% 1,600 80% 82% 73% 30% 1,200 60% 46% 54% 49% 800 40% 37% 400 -22% 20% 222% 69% -16% 133% 9% 0 0% 0 5 10 Total NAO 15 20 25 30 35 Region Region Region AAMEO LATAM Europe Source: IQVIA May 2018 Months from Launch Note: The market for anti-obesity medication varies significantly in size between countries changing diabetes NAO: North America Operations 1 Reported sales for first six months of 2018

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