Investor Presentation Q1 2023

140 Investor presentation First three months of 2023 Currency impact on Novo Nordisk's P/L Operational currency impact All movements in currencies will directly impact the individual reported functional lines of the Novo Nordisk's P&L statement The currency effect on e.g. operating profit growth is the difference between the reported growth and the operating profit growth at CER Key currencies account for around 79% of the total currency exposure No hedging effects are included in the operating profit Sensitivity table gives an indication of gain/loss of a 5% immediate change in exchange rates compared to exchange rates on announcement day DKK million Income statement Net sales Cost of goods sold 2022 2021 176,954 (28,448) 140,800 (23,658) Gross profit 148,506 117,142 Sales and distribution costs (46,217) (37,008) Research and development costs (24,047) (17,772) Administrative costs (4,467) (4,050) Other operating income and expenses Operating profit Financial income 1,034 332 74,809 58,644 239' • 2,887 Financial expenses (5,986) www Profit before income taxes 69,062 Income taxes Net profit (13,537) 55,525 (2,451) 59,080 (11,323) 47,757 Note: Example is based on Annual Report 2022 Earnings per share Basic earnings per share (DKK) 24.51 20.79 Diluted earnings per share (DKK) 24.44 20.74 Novo NordiskⓇ Financial currency impact All gain/losses from hedging contracts are included in the financial income/expenses All key currencies are hedged: . USD 12 months • JPY 12 months • CAD 9 months GBP 8 months CNY 6 months Hedging is primarily performed with the use of forward contracts Net financials includes hedging gain/loss including the cost of hedging and the effect from currency gain/losses of balances in non-hedged currencies Hedging costs are the interest rate differentials between DKK and hedged currencies

View entire presentation