Investor Presentation Q1 2023

142 Investor presentation First three months of 2023 Operating profit expected to be negatively impacted by currencies in 2023, partly countered by net financials 20% Avg. FY 2022 vs. Avg. FY 2021 Exp. Avg FY 2023 vs. FY 2022 10% Hedged 0% -10% USD/DKK CNY/DKK JPY/DKK CAD/DKK GBP/DKK 35% 15% Non- -5% hedged -25% H -45% RUB/DKK INR/DKK ARS/DKK BRL/DKK TRY/DKK FY 2022 Positive impact on operating profit of DKK 7.6 billion Foreign exchange net gain of DKK 2.9 billion Novo NordiskⓇ FY 2023 outlook • Currency impact on Operating profit is expected to be -9%-points • Net financial items is expected to be a gain of DKK 3.0 billion mainly driven by gains on hedging contracts due to depreciation of the USD vs 2022 average 1 Year-to-date realised data and remainder expected flat currency development based on the spot rate as of 27 April 2023 USD: United States dollar; DKK: Danish Kroner; CNY: Chinese yuan renminbi; JPY: Japanese yen; CAD: Canadian Dollar; GBP: British pound sterling; RUB: Russian Ruble; INR: Indian rupee; ARS: Argentine Peso; BRL: Brazilian Real; TRY: Turkish New Lira

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