Investor Presentaiton

21 Commercial execution and innovation Diabetes care Fixed dose combination with semaglutide and cagrilintide currently investigated in phase 2 with completion in 2022 90 participants with T2D HbA1c 7.5-10.5% Phase 2 trial design for CagriSema Randomisation (1:1:1) Cagrilintide OW + semaglutide OW • Met +/- SGLT-2i •BMI >27 kg/m2 Cagrilintide OW + placebo OW Semaglutide OW + placebo OW --+- _ Dose escalation 16 weeks Treatment maintenance FU 5 16 weeks weeks Role of amylin analogues in diabetes treatment Amylin is a naturally occurring hormone. When administered it lowers blood glucose in four ways • Slow gastric emptying, preventing blood sugar rising too fast Lowers the glucose production in the liver Increases satiety • Lowering of glucagon in connection with meals Novo NordiskⓇ Trial objective: Compare the effect on glycaemic control and body weight of cagrilintide in combination with semaglutide vs semaglutide in patients with type 2 diabetes Primary endpoint: Change in HbA1c (%-point) Next steps: 37-week trial was initiated in Q3 2021 Next steps Ongoing phase 2 trials for CagriSema and semaglutide in combination with GIP is expected to complete during second half of 2022 T2D: Type 2 diabetes; FU: Follow-up; Q: quarter; OW: Once-weekly; Cagrisema: cagrilintide in combination with semaglutide CMD22 CAPITAL MARKETS DAY

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