Novo Nordisk Investor Presentation - First Nine Months of 2016

Investor presentation First nine months of 2016 Slide 7 Sales growth rebounds in China in the first nine months of 2016 Quarterly sales in China - bDKK Sales as reported - MAT quarterly local currency growth % - Average local currency growth % 3.5 16% 3.0 14% 12% • 2.5 10% 2.0 8% 1.5 6% 1.0 4% 0.5 2% 0.0 0% Q1 Q3 2014 2016 changing diabetes Key factors impacting sales growth Increasing modern insulin sales growth driven by: Increased insulin market volume growth Modern insulin volume market penetration The growth was partly offset by declining human insulin sales reflecting increased competitive pressure and negative price impact from provincial biddings novo nordisk

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