First Quarter 2018 Investor Presentation

Investor Presentation First three months of 2018 Diabetes - the inability to manage blood sugar levels appropriately Slide 35 Facts about diabetes Diabetes is a chronic disease that occurs either when the pancreas does not produce enough insulin or when the body cannot effectively use the insulin produced by the pancreas Primary classifications: Type 1 diabetes: Complete insulin deficiency due to destruction of beta-cells in the pancreas Type 2 diabetes: Characterised by some degree of insulin resistance and insulin deficiency Insulin: Facilitates uptake of blood sugar into cells The aim of insulin therapy is to recreate normal blood insulin profile meal-related peaks (prandial) 70T Short-lived, rapidly generated 60- 긑 50- Insulin (U/mL) 40- 20- Sustained Insulin profile (basal) • 10- • Inhibits glucose release from the liver 0- 6:00 10:00 14:00 18:00 22:00 2:00 6:00 Fat cell Liver Pancreas Muscle 1 Time of day Breakfast Lunch Dinner changing diabetes® novo nordisk

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