164 Investor presentation First six months of 2023 Novo Nordisk has a sustainable t Sustainable tax approach approved by the BoD Co 1 | Commercially driven • Business structures driven by commercial considerations • Pay taxes where value is generated • Effective tax rate of ~20% for 2022 2 | Responsible • No artificial structures or tax havens • Transfer pricing principles compliant with OECD guidelines • Advanced pricing agreements covering ~65% of revenue 3 | Transparent • Open about tax practices and maintain cooperative relationships with tax authorities • Tax approach published on novonordisk.com • Total tax contribution in 2022 around DKK 36 billion Regio Intern - Den - EME - Reg - Res North - The Total Sha 1. Intellectual property rights based on sales from where intellectual property rights are located. 2. Production based on productio OECD: The Organisation for Economic Co-operation and Development Note: All figures and graphs are average 2020-2022
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