Investor Presentation Q1-Q3 2020

28 Investor presentation First nine months of 2020 Novo NordiskⓇ The future of R&D is to focus on increasing the number of clinical assets while maintaining industry-leading late-stage success R&D investments will expand beyond historic focus Increased clinical assets driving R&D investment Pipeline Assets Industry-leading success rate¹ from any phase to market Success Rate 100% Biopharm NASH Diabetes Obesity I+ CVD CKD Devices 180 Stem Cells ILLUSTRATIVE ILLUSTRATIVE 80% 60% 40% 20% 2019 Phase 1 Phase 2 Phase 3 Submission 0% Future Phase 1 Phase 2 Phase 3 Novo Nordisk Industry range __ Industry average Submission NASH: Non-alcoholic steatohepatitis; CVD: Cardiovascular disease; CKD: Chronic kidney disease. 1Probabilities of success to market were calculated using substances entering phase between 2008 and 2014 and year of assessment 2017. Source: CMR International, 2017 Future

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