Investor Presentation: First Nine Months of 2020

14 Investor presentation First nine months of 2020 R&D milestones for Q3 2020 through 2021 Diabetes Obesity Biopharm Project OzempicⓇ XultophyⓇ Icodec Glucose sensitive insulin Oral semaglutide Semaglutide 2.4 mg AM833 + semaglutide 2.4 mg LA-GDF15 Sogroya® Q3 2020 Q4 2020 Phase 3b initiation Peripheral artery disease - SUSTAIN FORTE - Phase 3 results ✓China submission Phase 1 initiation Phase 1 initiation 25 mg and 50 mg - Phase 3 initiation Novo NordiskⓇ Clinical milestones¹ Regulatory milestones¹ 2021 SUSTAIN FORTE - US/EU submission Phase 1 results US/EU submission/decision Phase 3 initiation Phase 1 results (somapacitan, AGHD) Concizumab ✔US decision EU decision Japan decision ✓Phase 3 trials reinitiated Mim8 Other serious chronic diseases Semaglutide NASH Phase 2 results (PoC, Gilead) Ziltivekimab ✔Phase 2 results 1 Expected to be published in the given quarter or in the subsequent quarterly company announcement Note: Trial initiations could be impacted by COVID-19 status. Timeline for the FGF-21 in NASH project has moved LA-GDF: Long-acting growth differentiation factor; AGHD: Adult growth hormone deficiency; PoC: Proof of Concept; NASH: Non-alcoholic steatohepatitis Phase 1/2 results Phase 3 initiation Phase 3 initiation

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