Novo Nordisk A

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2. 1 Demerger process update

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7. 6 Our ambition Continue to be the world�s leading diabetes care company Offer products and services in other areas where we can make a difference Grow our product pipeline through internal and external sourcing Build upon our biotechnology expertise and link with ZymoGenetics to harness the full potential of the genomics revolution Continue to improve financial performance.

8. 7 Worldwide presence

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21. 20 The competitive scene Insulin analogues

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25. 24 Diabetes Care growth drivers Increased number of diabetics Higher diagnosis rate More patients should use insulin More intensive therapy Increased device penetration Conversion to analogues More aggressive US strategy New Type 2 products in pipeline.

26. 25 Diabetes Care R&D

27. 26 Development pipeline

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29. 28 NovoSeven� strategy Develop NovoSeven� to become the first general haemostatic agent Develop a range of new clinical indications, new products and new formulations Expansion of production and sales force capacity Price per mg to be kept unchanged Clinical Phase 2 trials on up to four new indications will be initiated within the next year.

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33. 32 How many are treated How many satisfactory How many not controlledHow many are treated How many satisfactory How many not controlled

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35. 34 Development pipeline

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41. 40 Profitable organic growth

42. 41 Financial resultsHealth Care

43. 42 Financial results first half yearHealth Care

44. 43 Balance sheetHealth Care

45. 44 ZymoGenetics Approximately 275 people, hereof 200 scientists Using bio-informatics to discover novel gene sequences First to file on approx. 15% of US patents filed on �plausible protein therapeutics� from Dec. 1993 to Aug. 1998. Pipeline includes preclinical projects in the areas of immunology and oncology No current projects expected to the reach market before 2007-2010 Active dialog with accredited biotech investors is taking place.

46. 45 Triple Bottom Line

47. 46 Human Resources Performance culture Transparent recognition and incentive scheme Performance linked stock option programme for >300 managers Development plans and bonus linked appraisal systems for most employees Preferred employer Customer focus All employees to meet a person with diabetes this year Globalisation Growth in number of employees mainly outside Denmark.

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50. 49 No major patent expirations

51. 50 Forward-looking statements

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53. 52 Appendix

54. 53 Key e-business activities New diabetes professional portal connecting: NOVOALERT International Diabetes Monitor Web-based retinopathy service and much more.... HaemophiliaForum Product specific sites for all key products B2C sales of devices, e-procurement, B2B sales/order, web-based clinical trials Reinventing corporate and affiliate sites Dedicated e-business unit to drive it.

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56. 55 Long acting / Basal Insulin

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58. 57 The key impact of NovoSeven is through injury site selective Platelet activation to ensure high local thrombin formation which secures a tight fibrin clot

59. 58 Sources of innovation Novo Nordisk Diabetes Care R&D

60. 59 This slide and the following slide are the results of the Company�s bioinformatics platform discussed on the preceding pages. The results of these proprietary tools and focused discovery effort is that ZGI is second in the race of discovering novel, plausible therapeutic proteins. Discuss methodology of chart.This slide and the following slide are the results of the Company�s bioinformatics platform discussed on the preceding pages. The results of these proprietary tools and focused discovery effort is that ZGI is second in the race of discovering novel, plausible therapeutic proteins. Discuss methodology of chart.

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63. 62 Vision for Novo Nordisk The world�s leading diabetes care company Our aspiration is to defeat diabetes by finding better methods of diabetes prevention, detection and treatment We will work actively to promote collaboration between all parties in the health care system in order to achieve our common goals Offer products and services in other areas where we can make a difference Our research will lead to the discovery of new, innovative products also outside diabetes. We will develop and market such products ourselves whenever we can do it as well as or better than others �Competitive business results Our focus is our strength We will stay independent and form alliances whenever they serve our business purpose and the cause we stand for

64. 63 Our marketing strategy Working together with patient organisations and health authorities Examples:

65. 64 Children Education ProjectPoland

66. 65 Triple Bottom Line To obtain trust and license to operate and innovate To attract and retain the most talented people To minimise risks and create possibilities To understand signs from stakeholders To be part of defining new legislation and requirements To meet rising demand from investors(e.g. Dow Jones/ Sustainable Group Index)

67. 66 Health Care Half Year 2000Turnover by geography

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