Investor Presentaiton

Investor presentation First three months of 2017 Slide 25 Top line growth driven by the diabetes pandemic Novo Nordisk reported quarterly sales DKK billion 35 30 25 20 15 10 5 0 Q1 2007 by therapy Diabetes and obesity Haemophilia² International Diabetes Federation projects that 642 million people will have diabetes by 2040 Reg Europe Reg J&K Million North America NorditropinⓇ Other people Reg China 700 Reported sales CAGR¹: 11.0% 600 CAGR¹: 7.0% 500 -0.2% 7.7% 415 400 300 6.2% 12.5% 200 151 100 Reg AAMEO Reg LATAM 642 Q1 2000 2015 2040E 2017 1 CAGR for 10-year period Reg: Region; J&K: Japan & Korea; AAMEO: Africa, Asia, Middle-East and Oceania; LATAM: Latin America Note: 20-79 age group 2 Haemophilia includes NovoSeven®, NovoThirteen® (as of Q1 2013) and Novo Eight® (as of Q1 2014) 1 CAGR for 15-year period Source: International Diabetes Federation: Diabetes Atlas 1st and 7th Edition, 2000 and 2015 changing diabetes® novo nordisk

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