Investor Presentation First Nine Months of 2023

25 Investor presentation First nine months of 2023 Novo NordiskⓇ Novo Nordisk holds solid patent protection and competitive advantages Novo Nordisk's position is protected by patents and value chain setup Novo Nordisk holds competitive advantages compared to biosimilars OZEMPİC semaglutide injection RYBELSUS semaglutide tablets Fiasp fast-acting insulin aspart esperoct turoctocog alfa pegol Xultophy insulin degludec/liraglutide [rDNA origin] injection TRESIBA insulin degludec [rDNA origin] injection RYZODEG 70% insulindegiudec and 30% insulin aspart [rDNA origin injection EU/US patent protection¹ 2031/32² 2031/20322,3 20304 2034/322 2028/29 (2) • • 2028/29 2028/29 Research & Development • Need to show comparability in PK/PD trials . Strict regulatory requirements in the EU and the US • Requirement for both drug and device offering Commercialisation • Large and fragmented target audience Cost pressure from payers On-going conversion to next-generation drugs and slow market dynamics Manufacturing refixia® VICTOZA liraglutide injection 12 mg 18mg 2027/28 20235 E • Economies of scale . Up-front CAPEX requirements with slow return on investment 1 List does not include all marketed products. 2 Current estimates. WegovyⓇ patent identical to Ozempic® patent; 3 Tablet formulation and once-daily treatment regimen are protected by additional patents expiring in 2031-2034; 4 Formulation patent; active ingredient patent has expired; PK: Pharmacokinetic, PD: Pharmacodynamic; CAPEX: Capital expenditure

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