First Quarter 2018 Investor Presentation

Investor Presentation First three months of 2018 Slide 50 Stable insulin leadership position in Region AAMEO comprising Africa, Asia, Middle-East and Oceania Region AAMEO insulin market by segment - Device penetration - Region AAMEO modern and new-generation insulin volume market shares Eli Lilly Sanofi Biocon tMU 120 100 80 60 40 420 20 0 Feb 2013 CAGR volume¹: 8.0% CAGR value¹: MI and NGI penetration Novo Nordisk Penetration 5.1% 100% 70% 60% 80% Fast-acting 50% 60% 40% Premix 30% 40% 20% 20% Long-acting 10% 0% 0% Feb 2018 Feb 2013 56% 20% 14% 3% Feb 2018 1 CAGR for 5-year period. Note: IQVIA only covers the following 8 markets in AAMEO (retail data): Algeria, Egypt, India, New Zealand, Russia, Saudi Arabia, South Africa & Turkey, which together account for 82% of Novo Nordisk insulin sales in AAMEO Source: IQVIA monthly MAT Feb, 2018 volume and value (DKK) figures MI: Modern insulin; NGI: New-generation insulin Source: IQVIA monthly MAT Feb, 2018 volume figures, numbers do not add up to 100% due to smaller insulin manufacturers novo nordisk

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