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Investor Presentation First nine months of 2018 Unfavourable currency impact in 9M 2018 driven by development in both hedged and unhedged currencies Hedged currencies Index (1 Jan 2017= 100) Non-hedged currencies Index (1 Jan 2017 = 100) USD/DKK CNY/DKK 110 105 100 95- 90- 85 80 JPY/DKK GBP/DKK CAD/DKK 75 RUB/DKK INR/DKK ARS/DKK BRL/DKK TRY/DKK 110 100 90 80 70 60 50 40 30 changing diabetes 1 2 3 4 1 2 2018 3 2017 Slide 17 Hedged Currencies 2017 average 2018 average² Spot Impact of a Hedging rate² 5% move³ (months) USD1 660 632 658 2,050 11 CNY1 98 95 95 330 74 JPY1 5.9 5.7 5.9 180 12 GBP1 849 843 841 95 10 CAD1 508 489 501 80 10 Non-hedged 2017 2018 Spot Currencies average average² rate² ARS¹ 0.4 0.2 0.2 TRY1 181 133 117 INR1 10.1 9.2 9.0 RUB1 11.3 10.1 10.0 BRL¹ 207 174 177 1 DKK per 100; 2 As of 26 October 2018; 3 Impact on operating profit in the next 12 months of a 5% immediate currency move. DKK million per annum; 4 Chinese Yuan traded offshore (CNH) Note: Operating profit impact of one of the non-hedged currencies appreciating 5% is in the range of DKK -15 to +50 million novo nordisk

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