Investor Presentation: First Nine Months of 2020

Biopharm P&L - full year 2019 Higher profitability in the biopharm segment driven by lower S&D costs 111 Investor presentation First nine months of 2020 Diabetes and Obesity care P&L - full year 2019 DKK DKK billion 120 billion Sales ratios 20 -20% -16% 100 -28% 80 60 60 40 40 20 20 15 -12% 10 -3% 0% 42% 5 Novo NordiskⓇ Sales ratios -16% -11% -3% +2% 51% 0 0 Sales COGS S&D R&D Admin ΟΟΙ OP Sales COGS S&D R&D Admin ΟΟΙ OP P&L: Profit and Loss; COGS: Cost of goods sold; OOI: Other operating income; OP: Operating profit; S&D: Sales and distribution costs; R&D: Research and development costs; Admin: Administrative costs

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