Investor Presentation H1 2023

164 Investor presentation First six months of 2023 Novo Nordisk has a sustainable tax approach Novo NordiskⓇ Sustainable tax approach approved by the BoD 1 | Commercially driven Business structures driven by commercial considerations Pay taxes where value is generated Effective tax rate of -20% for 2022 2 | Responsible . No artificial structures or tax havens Transfer pricing principles compliant with OECD guidelines Advanced pricing agreements covering -65% of revenue 3 | Transparent Open about tax practices and maintain cooperative relationships with tax authorities Tax approach published on novonordisk.com Total tax contribution in 2022 around DKK 36 billion Corporate income taxes by region - three year average in DKK billion - EMEA (excl. Denmark) - Region China Region IP rights¹ Production² Sales³ Corporate income taxes International Operations 11.0 - Denmark 9.6 0.7 0.4 0.3 1.0 0.8 12.0 Share of category Share of category Share of category - Rest of World North America Operations - The US Total 1. Intellectual property rights based on sales from where intellectual property rights are located. 2. Production based on production employees in the region. 3. Sales based on the location of the customer. OECD: The Organisation for Economic Co-operation and Development Note: All figures and graphs are average 2020-2022

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