Investor Presentation Q1 2023

40 Investor presentation First three months of 2023 GLP-1 effect dependent on blood glucose level GLP-1 mechanism of action when blood sugar levels increase Semaglutide holds a plethora of therapeutic opportunities¹ Reduces glucagon secretion in the liver 1 List is not exhaustive Creates sense of satiety in the brain Brain Diabetes CVD FOCUS - Diabetic retinopathy outcomes trial Semaglutide s.c; ~1,500 patients, T2D ≥10 years SOUL - Cardiovascular outcomes trial Oral semaglutide; ~9,600 patients, T2D, established CVD or CKD SELECT - Cardiovascular outcomes trial Obesity Semaglutide 2.4 mg, ~17,500 patients with obesity and without diabetes, event driven PAD Brain disorders Heart Failure Semaglutide in NASH Semaglutide s.c.; phase 3 and 2 trials FLOW - Chronic kidney disease outcomes trial Semaglutide 1.0 mg; ~3,200 patients, T2D, moderate to severe CKD STRIDE - Peripheral artery disease trial Semaglutide 1.0 mg; ~ 800 patients with T2D and PAD Alzheimer's Disease Oral Semaglutide 14 mg; ~ 3,700 patients with early Alzheimer's disease STEP - HFPEF Semaglutide 2.4 mg; ~ 600 patients with obesity-related HFPEF GLP-1 Liver Slows gastric emptying NASH Stomach CKD Pancreas Increases insulin secretion in the pancreas Sc: Subcutaneous; T2D: Type 2 diabetes; CVD: Cardiovascular disease; CKD: Chronic kidney disease; NASH: Non-alcoholic steatohepatitis; PAD: Peripheral artery disease Novo NordiskⓇ

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