Full Year 2023 Investor Presentation

135 Investor presentation Full year 2023 NAO US health insurance is dominated by a few large commercial payers US population by health insurance status Development of Novo Nordisk rebates and net sales in the US Covered lives by PBM has been stable in recent years DKK 326 333 billion 5% 7% All other PBM 4% 9% 8% 400 Express Scripts/Cigna 69% 71% 74% 75% 75% 74% 24% 350 64% 23% 22% 59% Humana 8% 300 56% Prime 5% 250 18% 17% UnitedHealth 22% 200 MedImpact 4% 150 45% 46% 100 CVS Caremark 33% 50 0 2021 20171 Managed care² Medicare Medicaid/CHIP Uninsured Public exchanges 12017 data reflect historical data through Oct 2017 2 Managed care population is slightly underestimated as only population under the age 65 is captured to avoid double counting with those eligible for Medicare. Source: Centres for Medicare and Medicaid services, office of the actuary, National Health expenditures Projections PBM: Pharmacy Benefit Manager Note: Covers all main channels (Managed Care, Medicare Part D, and Medicaid); market share based on claim adjudication coverage, i.e. not on formulary/rebate decision power Sources: The 2023 Economic Report on U.S. Pharmacies and PBMs (Published on www.DrugChannels.net) Source: Novo Nordisk Annual Report 2023 2022 2015 2017 2019 2021 2023 Net sales Rebates, % of gross sales Rebates

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