First Quarter 2018 Investor Presentation

Investor Presentation First three months of 2018 Slide 80 SaxendaⓇ now launched in 25 countries SaxendaⓇ value share of anti-obesity medications in selected countries Mexico Germany 100% 80% 60% Australia Italy USA Brazil UAE 85% Canada DKK Denmark million 48% Countries with highest SaxendaⓇ sales in 20171 SaxendaⓇ value market share SaxendaⓇ volume market share Spain 2,400 3% 86% 2,000 73% 1,600 48% 50% 1,200 800 400 26% 4% 83% 75% 12% 69% 38% 5% USA Brazil Canada Australia UAE 40% 38% 30% 21% 20% 13% 9% 0% 0 5 10 15 20 25 30 Source: IQVIA Dec 2017 Months from Launch Note: The market for anti-obesity medication varies significantly in size between countries changing diabetes 1 Reported sales for the full year 2017 Source: IQVIA MIDAS, Dec 2017

View entire presentation