Investor Presentation H1 2023

18 Investor presentation First six months of 2023 Attractive capital allocation to shareholders DKK billion 70 Annual cash return to shareholders 76 60 60 50 10 40 8 8 16 30 14 13 20 20 10 17 0 2020 13 30 30 20 20 24 2021 2022 Dividend Interim Dividend 2023E Share Repurchase Novo NordiskⓇ Capital allocation • Return of free cash flow through both share buy backs and dividends • For 2022, the total dividend per share increased 19.2% to DKK 12.40 (including interim dividend of DKK 4.25 per share paid in August 2022) • For 2023, the interim dividend of DKK 6.00 per share will be paid in August 2023 • Overall share repurchase programme for 2023 of up to DKK 30 billion • To secure liquidity for both the Novo Nordisk B shares and American Depositary Receipts, the Board of Directors has decided to split the share in a two-for-one ratio in September 2023 Note: Share repurchase programmes run for 12 months starting in February. The total programme may be reduced in size if significant business development opportunities arise during 2023. Dividend for 2023E added for illustrative purposes only

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