Full Year 2023 Investor Presentation

100 Investor presentation Full year 2023 MASH is a progressive disease with no approved treatment and low diagnosis rates today MASH-Cirrhosis F4 MASH F3 MASH F2 MASH F1 Inflamed tissue Large lipid droplets Inflamed/dying hepatocyte Collagen fibres Inflamed/dying hepatocyte Excessive collagen deposition Dead cell remnants Scar tissue Diagnosis rates Treatment rates MASH: Metabolic dysfunction-associated steatohepatitis Note: MASH was formerly known as NASH (Nonalcoholic steatohepatitis) Source: Novo Nordisk estimates 26% 32% 42% 50% 70% 90% Novo NordiskⓇ

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