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Investor Presentaiton

Investor Presentation First six months of 2018 Slide 51 Stable insulin leadership position in Region AAMEO comprising Africa, Asia, Middle-East and Oceania Region AAMEO insulin market by segment Region AAMEO modern and new-generation tMU 120 100 80 60 40 20 0 May 2013 - CAGR value¹: Device penetration CAGR volume¹: 7.7% 4.2% — MI and NGI penetration Penetration Novo Nordisk Sanofi insulin volume market shares Eli Lilly 100% 70% 60% 80% Fast-acting 50% 60% 40% Premix 30% 40% 20% 20% Long-acting 10% 0% 0% May 2018 May 2013 Biocon 56% 20% 14% 3% May 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 May, 2018 volume and value (DKK) figures MI: Modern insulin; NGI: New-generation insulin Source: IQVIA monthly MAT May, 2018 volume figures, numbers do not add up to 100% due to smaller insulin manufacturers novo nordisk
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