Investor Presentation Q1-Q3 2020

44 Investor presentation First nine months of 2020 GLP-1 effect dependent on blood glucose level GLP-1 mechanism of action when blood sugar levels increase • Increases insulin secretion in the pancreas • Reduces glucagon secretion in the liver • Slows gastric emptying in the gut • Creates sense of satiety in the brain Brain Diabetes CVD Semaglutide holds a plethora of therapeutic opportunities FORTE - Semaglutide 2.0 mg Semaglutide s.c. ~961 patients, T2D FOCUS - Diabetic retinopathy outcomes trial Semaglutide s.c; ~1,500 patients, T2D ≥10 years SOUL - Cardiovascular outcomes trial Oral semaglutide; ~9,600 patients, T2D, established CVD or CKD GLP-1 Liver Gut Pancreas S.c: Subcutaneous; T2D: Type 2 diabetes; CVD: Cardiovascular disease; CKD: Chronic kidney disease Obesity NASH CKD SELECT Cardiovascular outcomes trial - Semaglutide 2.4 mg, ~17,500 patients with obesity and without diabetes, event driven Semaglutide in NASH Semaglutide s.c.; phase 2 trials FLOW - Chronic kidney disease outcomes trial Semaglutide 1.0 mg; ~3,200 patients, T2D, moderate to severe CKD Investigator initiated trials Brain disorders • Alzheimer's disease • Parkinson's disease Novo NordiskⓇ

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