Novo Nordisk A/s Class B · OMXCOP:NOVO_B
Novo Nordisk A/s Class B — Investor Presentation (June 2026)
28 slides from Novo Nordisk A/s Class B's investor presentation, Jun 7, 2026
Slide 1: Novo Nordisk – a focused healthcare company
1 Investor presentation Novo Nordisk –a focused healthcare company Novo Nordisk R&D investor event Erik Hageman (on the right) is one of Denmark’s longest-living people with type 1 diabetes, pictured here with his son Lars, who also has type 1 diabetes, and his grandchildren (from the left) Clara, E
Slide 2: Agenda
2 Investor Relations R&D Investor event Novo Nordisk® Agenda Introduction Michael Novod Opening remarks Mike Doustdar CagriSema in T2D - REIMAGINE ADA R&D Zenagamtide highlights Martin Holst Lange UBT251 Pipeline Upcoming R&D milestones Mike Doustdar, Martin Holst Lange, Q&A Karsten Munk Knudsen
Slide 3: Forward-looking statements
3 Investor Relations R&D Investor event Novo Nordisk® Forward-looking statements Novo Nordisk’s statutory Annual Report 2025, Form 20-F, any quarterly financial reports, and written information released, shown, or oral statements made, to the public in the future by or on behalf of Novo Nordisk, may
Slide 4: Today's speakers
4 Investor Relations R&D Investor event Novo Nordisk® Today’s speakers Mike Doustdar Martin Holst Lange President and Executive Vice President of R&D Chief Executive Officer and Chief Scientific Officer
Slide 5: Agenda
5 Investor Relations R&D Investor event Novo Nordisk® Agenda Introduction Michael Novod Opening remarks Mike Doustdar CagriSema in T2D - REIMAGINE ADA R&D Zenagamtide highlights Martin Holst Lange UBT251 Pipeline Upcoming R&D milestones Mike Doustdar, Martin Holst Lange, Q&A Karsten Munk Knudsen
Slide 6: Novo Nordisk pursues innovation-driven opportunities within core therapeutic areas and adjacent comorbidities
6 Investor Relations R&D Investor event Novo Nordisk® Novo Nordisk pursues innovation-driven opportunities within core therapeutic areas and adjacent comorbidities Our strategy focuses on leading in Obesity, Diabetes & related Significant unmet need remains within Diabetes and Obesity comorbidities
Slide 7: Wegovy pill is expanding the US AOM market, with current Wegovy NBRx market share around 60%
7 Investor Relations R&D Investor event Novo Nordisk® Wegovy® pill is expanding the US AOM market, with current Wegovy® NBRx market share around 60% Branded AOM TRx after launch Branded AOM NBRx in the US Weekly TRx Wegovy® sc Weekly NBRx Wegovy® franchise scripts (‘000s) Wegovy® pill scripts (‘000s
Slide 8: Wegovy pill has a differentiated label in the US
8 Investor Relations R&D Investor event Novo Nordisk® Wegovy® pill has a differentiated label in the US Wegovy® pill Differences in oral GLP-1 DDI restrictions and population use in US labels 16.6% Best-in-class weight loss1 DDI/population use oral semaglutide3 orforglipron4 Dose restriction* Strong
Slide 9: Novo Nordisk at ADA 2026 showcases our science across multiple indications and pipeline products
9 Investor Relations R&D Investor event Novo Nordisk® Novo Nordisk at ADA 2026 showcases our science across multiple indications and pipeline products 40 36 4 Poster Oral >15 clinical trials abstracts accepted presentations presentations Innovation at ADA Therapy areas represented Semaglutide Icodec
Slide 10: Agenda
10 Investor Relations R&D Investor event Novo Nordisk® Agenda Introduction Michael Novod Opening remarks Mike Doustdar CagriSema in T2D - REIMAGINE ADA R&D Zenagamtide highlights Martin Holst Lange UBT251 Pipeline Upcoming R&D milestones Mike Doustdar, Martin Holst Lange, Q&A Karsten Munk Knudsen
Slide 11: REIMAGINE pivotal trials tested CagriSema versus semaglutide, cagrilintide and placebo in people with type 2 diabetes
11 Investor Relations R&D Investor event Novo Nordisk® REIMAGINE pivotal trials tested CagriSema versus semaglutide, cagrilintide and placebo in people with type 2 diabetes semaglutide 1.0 mg/2.4 mg REIMAGINE 1 compares CagriSema vs REIMAGINE 2 compares CagriSema vs sema REIMAGINE 3 compares CagriSe
Slide 12: CagriSema demonstrated superior HbA1c reduction and weight loss in the REIMAGINE 2 phase 3 trial
12 Investor Relations R&D Investor event Novo Nordisk® CagriSema demonstrated superior HbA1c reduction and weight loss in the REIMAGINE 2 phase 3 trial CagriSema demonstrated superior weight loss vs semaglutide1 CagriSema demonstrated superior HbA1c reduction vs semaglutide1 Mean baseline body weigh
Slide 13: CagriSema demonstrated superior HbA1c reduction and weight loss in both REIMAGINE 1 and 3 phase 3 trials
13 Investor Relations R&D Investor event Novo Nordisk® CagriSema demonstrated superior HbA1c reduction and weight loss in both REIMAGINE 1 and 3 phase 3 trials CagriSema demonstrated superior weight loss vs placebo in both CagriSema demonstrated superior HbA1c reduction vs placebo in REIMAGINE 1 and
Slide 14: Overall low rates of adverse events leading to drug withdrawal with no unexpected safety findings in REIMAGINE 2
14 Investor Relations R&D Investor event Novo Nordisk® Overall low rates of adverse events leading to drug withdrawal with no unexpected safety findings in REIMAGINE 2 CagriSema semaglutide cagrilintide CagriSema semaglutide Placebo 2.4 mg 2.4 mg 2.4 mg 1.0 mg 1.0 mg (n = 149) (n = 603) (n = 605) (n
Slide 15: The REIMAGINE trials confirm the potential of CagriSema in T2D, offering strong weight loss and superior HbA1c reduction
15 Investor Relations R&D Investor event Novo Nordisk® The REIMAGINE trials confirm the potential of CagriSema in T2D, offering strong weight loss and superior HbA1c reduction CagriSema combines GLP-1 with the innovation of amylin Next steps • REDEFINE 3 (CVOT) is expected to read- Glycaemic control
Slide 16: Agenda
16 Investor Relations R&D Investor event Novo Nordisk® Agenda Introduction Michael Novod Opening remarks Mike Doustdar CagriSema in T2D - REIMAGINE ADA R&D Zenagamtide highlights Martin Holst Lange UBT251 Pipeline Upcoming R&D milestones Mike Doustdar, Martin Holst Lange, Q&A Karsten Munk Knudsen
Slide 17: Zenagamtide sc demonstrated up to 14.6% weight loss and 1.7%-points HbA1c reduction in the phase 2 trial in T2D
17 Investor Relations R&D Investor event Novo Nordisk® Zenagamtide sc demonstrated up to 14.6% weight loss and 1.7%- points HbA1c reduction in the phase 2 trial in T2D Zenagamtide sc demonstrated significant weight loss vs placebo1 Zenagamtide sc showed significant HbA1c reduction vs placebo1 Mean b
Slide 18: Zenagamtide appeared to have a safe and well-tolerated profile consistent with incretin and amylin-based therapies
18 Investor Relations R&D Investor event Novo Nordisk® Zenagamtide appeared to have a safe and well-tolerated profile consistent with incretin and amylin-based therapies zenagamtide zenagamtide zenagamtide zenagamtide zenagamtide zenagamtide Placebo 0.4 mg 1.5 mg 5 mg 10 mg 20 mg 40 mg (n = 36) (n =
Slide 19: The AMAZE and AMBITION phase 3 programmes are designed to explore the potential of zenagamtide in obesity and diabetes
19 Investor Relations R&D Investor event Novo Nordisk® The AMAZE and AMBITION phase 3 programmes are designed to explore the potential of zenagamtide in obesity and diabetes Selected zenagamtide phase 3 trials in obesity programme Selected zenagamtide phase 3 trials in diabetes programme AMAZE 1 • 8
Slide 20: Agenda
20 Investor Relations R&D Investor event Novo Nordisk® Agenda Introduction Michael Novod Opening remarks Mike Doustdar CagriSema in T2D - REIMAGINE ADA R&D Zenagamtide highlights Martin Holst Lange UBT251 Pipeline Upcoming R&D milestones Mike Doustdar, Martin Holst Lange, Q&A Karsten Munk Knudsen
Slide 21: UBT251 phase 2 study explored the weight loss potential of GLP-1, GIP and glucagon tri-agonism in a Chinese population
21 Investor Relations R&D Investor event Novo Nordisk® UBT251 phase 2 study explored the weight loss potential of GLP-1, GIP and glucagon tri-agonism in a Chinese population UBT251 phase 2 study enrolled 205 participants with overweight Baseline characteristics of UBT251 phase 2 trial in Chinese or
Slide 22: UBT251 achieved up to 19.7% mean weight loss and more than 48% of participants achieved ≥20% weight loss in phase 2
22 Investor Relations R&D Investor event Novo Nordisk® UBT251 achieved up to 19.7% mean weight loss and more than 48% of participants achieved ≥20% weight loss in phase 2 Mean change in body weight1 ≥20% body weight reduction after 24 weeks1 Mean baseline body weight 92.2 kg 0 50 48.0 48.4 -2.0 -5 C
Slide 23: UBT251 appeared to have a safe and well-tolerated profile and is now in a phase 1b/2a global obesity study
23 Investor Relations R&D Investor event Novo Nordisk® UBT251 appeared to have a safe and well-tolerated profile and is now in a phase 1b/2a global obesity study UBT251 safety and tolerability was consistent with UBT251 is being investigated in a global Phase 1b/2a study incretin-based therapies ILL
Slide 24: Agenda
24 Investor Relations R&D Investor event Novo Nordisk® Agenda Introduction Michael Novod Opening remarks Mike Doustdar CagriSema in T2D - REIMAGINE ADA R&D Zenagamtide highlights Martin Holst Lange UBT251 Pipeline Upcoming R&D milestones Mike Doustdar, Martin Holst Lange, Q&A Karsten Munk Knudsen
Slide 25: Upcoming late-stage R&D milestones
25 Investor Relations R&D Investor event Novo Nordisk® Upcoming late-stage R&D milestones Project H2 2026 2027 Obesity& UBT251 (tri-agonist) Phase 1b/2a Expected read-out H1 2027 Triple agonist Phase 1b/2a Expected read-out H1 2027 Cagrilintide Phase 3 Expected read-out during 2027 CagriSema (REDEFI
Slide 26: ZEUS is the first phase 3 readout evaluating ziltivekimab's novel mechanism of action in cardiovascular disease
26 Investor Relations R&D Investor event Novo Nordisk® ZEUS is the first phase 3 readout evaluating ziltivekimab’s novel mechanism of action in cardiovascular disease Ziltivekimab is designed for potent and sustained inhibition of IL- ZEUS baseline characteristics and design 6, with proof of concept
Slide 27: Agenda
27 Investor Relations R&D Investor event Novo Nordisk® Agenda Introduction Michael Novod Opening remarks Mike Doustdar CagriSema in T2D - REIMAGINE ADA R&D Zenagamtide highlights Martin Holst Lange UBT251 Pipeline Upcoming R&D milestones Mike Doustdar, Martin Holst Lange, Q&A Karsten Munk Knudsen
Slide 28: Novo Nordisk – a focused healthcare company
28 Investor presentation Novo Nordisk –a focused healthcare company Novo Nordisk R&D investor event Erik Hageman (on the right) is one of Denmark’s longest-living people with type 1 diabetes, pictured here with his son Lars, who also has type 1 diabetes, and his grandchildren (from the left) Clara,