Investor Presentation Full Year 2021

Higher profitability in the biopharm segment driven by lower S&D costs 124 Investor presentation Full year 2021 Novo NordiskⓇ Diabetes and Obesity care P&L - full year 2021 Biopharm P&L - full year 2021 DKK billion DKK billion 140 -16% Sales ratios 20 20 -22% Sales ratios 120 -28% -17% 100 15 -11% 60 80 60 60 -13% -3% 10 0% 41% -3% +1% 47% 40 40 20 20 5 0 0 Sales COGS S&D R&D Admin ΟΟΙ OP Sales COGS S&D R&D Admin ΟΟΙ OP P&L: Profit and Loss; COGS: Cost of goods sold; OOI: Other operating income; OP: Operating profit; S&D: Sales and distribution costs; R&D: Research and development costs; Admin: Administrative costs

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