Investor Presentation - First Nine Months of 2016

Investor presentation First nine months of 2016 Slide 48 Stable leadership position in International Operations International Operations insulin market by segments International Operations insulin Novo Nordisk Sanofi volume market shares Eli Lilly Biocon Device penetration Modern Insulin penetration² tMU CAGR volume¹: 10.7% Penetration 120 CAGR value¹: 8.1% 100% 70% 100 60% 80% 50% 80 Fast-acting 60% 40% 60 30% Premix 40% 40 20% 20% 20 10% Long-acting 0 0% 0% Aug 2011 1 CAGR for 5-year period. 2 Includes new generation insulin. Aug 2016 Aug 2011 Note: IMS only covers the following 13 markets in IO (retail data): Algeria, Argentina, Brazil, Colombia, Egypt, India, Mexico, NZ, Russia, Saudi Arabia, South Africa & Turkey Source: IMS Monthly MAT August, 2016 volume and value (DKK) figures Note: Only top-4 shown Source: IMS Monthly MAT August, 2016 volume figures, numbers do not add up to 100% due to smaller insulin manufacturers changing diabetes® 55% 18% 17% 3% Aug 2016 novo nordisk

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