First Quarter 2018 Investor Presentation

Investor Presentation First three months of 2018 Slide 9 Total TRX MAT volume growth rate GLP-1 TRX volume (thousand) 35% 400 VictozaⓇ sales growth of 20% in the USA driven by GLP-1 market volume growth of ~23% USA GLP-1 market development USA GLP-1 market monthly TRX USA GLP-1 volume market share MAT GLP-1 TRx volume (million) 10 Growth rate NN GLP-1 VictozaⓇ OzempicⓇ dulaglutide GLP-1 TRX market NN GLP-1 VictozaⓇ OzempicⓇ dulaglutide exenatide albiglutide exenatide albiglutide share 100% 30% 350 8 80% 300 25% 16 250 - 20% 60% 200 44% 15% 4 150 40% 10% 37% 100 2 20% 15% 5% 50 4% 0% 0 0% Feb 2015 Feb Feb Feb Feb Feb 2018 2015 2018 2015 2018 Source: IQVIA NPA monthly, Feb 2018 changing diabetes® novo nordisk

View entire presentation