NNIT Introduction

2019

Share and ownership

Novo Holdings A/S33.5%Novo Nordisk A/S

17,5%

Chr. Augustinus Fabrikker Akts.

10,0%

Treasury shares1,9%

Other shareholders37,1%

2

3,007

590 649 672801

8901.016

1.165

1.396

1.5871.654

1.795

2.028

2.205

2.410

2.6002.765

2,851(1)

12% 12% 12%11%

12% 13%11% 11% 11% 11% 10% 11% 10% 10%

1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Revenue Mix Development Since 2005

Non-Novo Nordisk Revenue

Novo Nordisk Revenue

Operating Margin (%)

Novo Nordisk vs. non-Novo NordiskDKKm

Great Track Record of Profitable Growth while Diversifying Our Revenue Base

Per Kogut

–new CEO

10th consecutive

year with double

digit growth

New

Data

center

Opening of New Locations

and acquisitions:

Novo Nordisk IT

incorporated as a

limited liability

company (A/S)

Novo

Nordisk IT

renamed

NNIT

IPO

New

Data center

1. Numbers have been restated to include the effect of the implementation of IFRS 15 and IFRS 16.

3

Leveraging Our Compliance DNA Drives Diversification

Finance

DKK 257m

(9%)

Life Sciences

Private & Public

DKK 1,558m

(52%)

DKK 1,450m

(48%)

Int. Life

Sciences

DKK 212 m

(7%)

Public

DKK 399m

(13%)

Enterprise

DKK 794m

(26%)

Our CoreLeveraging Our Compliance

DNA

Revenue 2018

(contribution to total - %)

Note1. Selection of current NNIT customers, as of December 2018

See Note (1)See Note (1)

DKK 222m

(7%)

Life

Sciences DK

DKK 1,124m

(37%)

DK INT

Novo

Nordisk

4

Grow

revenue

Optimize

cost

Grow revenue through

International life

sciences

Grow NNIT core revenue

Grow revenue through

increased level of

innovation

Grow the revenue from

international life sciences

significantly, supported by

M&A and continued execution

of go to market plan.

Grow revenue coming from

our core-NNIT offerings.

Build on and strengthen our

innovation capabilities to grow

the level of new high margin

offerings we bring to the

market significantly.

Use of Automation and AI

Leverage automation and AI to support optimization.

Cost efficient delivery, sales and support functions

Ongoing optimization though sourcing and process optimization

across all functions to remain cost efficient and competitive.

New strategy

Maintain and develop

strong Novo Nordisk

relationship

Maintain and develop strong

Novo Nordisk relationship by

staying relevant and

competitive.

5

Equity Story

Business model fit for

growth

Life sciences growth

strategy

Attractive financial

results

• Full scale service offering in

Advisory, Development, Operations

and Support

• Strong innovation focus with

DKK 500m revenue from new

offerings in 2022

• Flexible global delivery model

with around 50% of employees

based in offshore and nearshore

locations

• Top 3 IT Service Provider in

Danish market measured by

revenue

• Solid track record of >20%

organic growth in international life

sciences

• Attractive market with high

margins and high entry barriers due

to level of regulation

• Strong domain knowledge based

on our life sciences legacy

• Strategic acquisitions being

pursued to accelerate growth even

further

• Maintain Novo Nordisk

relationship through state of-the-

art delivery and innovative solutions

• Historic growth above market -

market growth around 2-3%

• Historic operating profit margin

of at least 10%

• Cash generating business with

high dividend yields while investing

in future growth with pay-out ratio

objective at a minimum of 45%

• Solid back-log with high visibility

• Stable reinvestment levels with

capital expenditure of 5-7% of

revenue

6

New organization

7

High pay-out ratio while maintaining M&A firepower

Net cash Net debt/EBITDA(1) Cash to earnings

Solvency ratio Pay out ratio Dividend yield

98 131

174

(19)(1)

(135)

2014 2015 2016 2017 2018

0,7

0,8

0,9

2016 2017 2018

72,9%99,2%

87,3%

-6,3%

49,3%

80.0%

2014 2015 2016 2017 2018

Adj. for DC2 Adj. for leasing & acquisitions

91.1%

94.9%

53,4% 55,5% 53,2%

41.9%(1) 42,6%

2014 2015 2016 2017 2018

46%

47%

48% 48%

2015 2016 2017 2018

2,1% 2,0%

2,4% 2,5%

2015 2016 2017 2018

1. Numbers have been restated to include the effect of the implementation of IFRS 15 and IFRS 16.

8

Rolling 12-months revenue development, Novo Nordisk and Other customers

Revenue development, Novo NordiskRevenue development, other customers

1.302 1.238 1.249

1.215 1.196 1.185 1.121 1.132 1.120 1.124 1.127

1.084 1.040

Q32016

Q42016

Q12017

Q22017

Q32017

Q42017

Q12018

Q22018

Q32018

Q42018

Q12019

Q22019

Q32019

CAGR: -9.5%

-14.7%CAGR: +0.6%1.417

1.526 1.568

1.639 1.645 1.666 1.714

1.760

1.844 1.883

1.932 1.966

2.039

Q32016

Q42016

Q12017

Q22017

Q32017

Q42017

Q12018

Q22018

Q32018

Q42018

Q12019

Q22019

Q32019

CAGR: 11.9%

9

…things we do

10

NNIT, a full stack ERP house

• Create a full stack offering for Dynamics AX from advisory, to implementation and operations

• Will create an unmatched ERP power house in Denmark with a full stack value proposition for the two market leading

platforms - Microsoft and SAP - for larger organizations.

• Supports Microsoft focused customers and their move into the cloud as part of their digital transformation

Strong existing Microsoft portfolioOffice 365, Azure, SharePoint, Skype for Business, Power BI, BizTalk, Exchange Servers, SQL Server,

Windows Server, Windows Client OS, .Net

AX Advisory Services

AX Implementation

AX Application outsourcing

AX Infrastructure outsourcing

In

teg

rati

on

to

ad

jacen

t syste

ms

SAP Advisory Services

SAP Implementation

SAP Application outsourcing

SAP Infrastructure outsourcing

Off

sh

ore d

elivery

NNITSCALES

11

SCALES - leading Dynamics AX 365 implementer

• Founded in 2011

• One of the largest Dynamics AX consultancies in Denmark – a recognized Microsoft partner

• The leading Dynamics 365 consultancy in the Nordic region

• 126 AX consultants in Denmark and Norway

• Strong profitable growth track record

• Strong cultural fit to NNIT

• NNIT partner on Widex, PANDORA, and Sund&Bælt deliveries

• Support for Dynamics AX 2009 and 2012 ended in 2018.

• Security hotfixes continue until 2021

• Acquired as of June 1, 2017

Business overview Financials

Prizes

94,4

115,7

144,5

182,3

0%

10%

20%

30%

40%

50%

0

50

100

150

200

2017 2018

+26%

+25%

+23%

20162015

Revenue (mDKK) Operating profit margin (%)

mDKK

12

Valiance - Software-as-a-Service provider

• Headquarter in Baskin Ridge, NJ with an office in Dublin, Ireland

• Employs approximately 60+ staff and contractors

• Developed the automated TRUseries suite of software products for data migrations

• Performed 500+ migrations for 100+ clients

• Strong profitable growth track record and recognized as one of Americas fastest growing companies

• Acquired as of November 1, 2018

Business overview Financials*

Partners

4,86,2

12,4

0%

10%

20%

30%

40%

50%

0

2

4

6

8

10

12

14

20162015

9.8

2017 2018

+30%

+58%

+27%

Revenue Operating profit margin (%)

*Normalized for compensation for management, owner’s personal expenses, professional fees and ramp-up costs

mUSD

13

HGP – consultancy specialized in life sciences

• Swiss-based consultancy business, Halfmann Goetsch Partner established in 2008

• Employs 70+ experts with extensive experience in the life sciences industry

• Highly specialized offerings include Information Risk Management, Computer System Validation (CSV), Manufacturing Execution Systems (MES), Data Privacy (GDPR), Data Integrity, Good Manufacturing Practices, Track & Trace and Audit Readiness

• Flexible and scalable consultancy base including top subject matter experts from across the international life sciences IT arena

• Will be fully merged into NNIT in 2019

Business overview Financials*

Selected clients

5,9

7,6

8,3

8,6

9,6% 16,6%13,7% 13,7%

0%

10%

20%

30%

40%

0

2

4

6

8

100.7

20162015 2017 2018

9.0+14%

Passthrough revenue Revenue Operating profit margin (%)

*Normalized for compensation for management and selected provisions

mCHF

14

Data center Capacity

Data center setup Current State

• DC1: Owned 1,200m2 and tier III certified data center in Denmark

• DC2: Owned 4,000m2 and tier III certified data center in Denmark

• Rented capacity in secondary datacenter Denmark

• Operating datacenters in affiliates in US and China

DC1Tier III

External

leased

DC2Tier III

15

Markets

Denmark – all segments

17

Space to Grow Further As The Leading Local Provider –As Seen In Other European Countries

Source: Gartner (2018) and company financial reports

France

1st

10%

Spain

1st

9%

Denmark

7%

3rd

Norway

23%

1st Finland

1st

15%

Germany

8%

1st

Switzerland

11%

1st

Sweden

8%

1st

% market share and ranking

2017 Market Share of Leading Local IT Services Providers in Their Country of Origin

18

4.418

2.629

2.092 2.017 1.802

1.543 1.371

1.130 856 824

-

500

1.000

1.500

2.000

2.500

3.000

3.500

4.000

4.500

5.000

Leading Market Share in Danish IT Services Market

Danish IT Services Market Development vs. NNIT

Danish IT Services Market (2018 Revenue (1))DKKm +x% 2018 Growth

Source: Gartner IT Services Vendor market shares (April, 2019) and company financial reports

Note1. Based on Gartner’s estimates of Danish operations for these 10 competitors, may differ from reported numbers in companies’ filings

Danish IT service market 2018

▪ Growth 2013-2016 was 2-3 %

▪ Market size: 36.9 bn DKK

▪ NNIT market share was 7.2% (2015: 6.9%)

+16%

+3%

-20%+6%

0%

-10%

-2%

+5%

+4%

+27%

19

Market size

2018E:

Market size

2022E:

CAGR: NNIT est. market share

NNIT revenue growth:

Comments:

2.2bnUncertainty

14.2bn 16.0bn 3.0%

See further opportunities for larger

outsourcing contracts, following Danish

clients internationally as well as Scales growth

7.3bn 8.6bn 4.1%

Regulatory driven access,

opportunities to grow accounts

12.2bn 13.9bn 3.2%

Rigid T&C, highly competitive pricing

environment. NNIT will act with caution

1.0bn 1.3bn 6.8%

Stable market situation, increased focus on

SaaS IT and business transformation

70.4bn 87.6bn 5.6%Focused offerings, differentiate on tier 1 and

tier 2 pharma companies, geographical focus

Source: Gartner (Q3 2018), Novo Nordisk data is from IPO (2014), NNIT estimatesAll numbers in DKK

Market situation for our customers groups

International

DK

INT

~50%

5.6%

3.5%

3.3%

22%

0.6%

20

Source: Gartner (2018), 2018 NNIT revenue All numbers in DKK

Enterprise

Market situation for our Private & Public clients

▪ Still a significant portion of larger companies run IT

in-house▪ Opportunities to follow Danish clients internationally▪ Security and future digital workplace▪ Large customers with complex needs ▪ SaaS implementation with SCALES

Market size

2018E: 14.2bn

2022E: 16.0bn

CAGR: 3.0%

NNIT estimated market share

Share of non-NNG revenue

▪ NNIT targeting Regions and Central Government

▪ Rigorous contract regime and T&C

▪ Public tenders are regulated by law

▪ Replacement of legacy systems

Public

Market size

2018E: 12.2bn

2022E: 13.9bn

CAGR: 3.2%

Finance

Market size

2018E: 7.3bn

2022E: 8.6bn

CAGR: 4.1%

▪ Strong regulation and compliance requirements fit well with our life sciences DNA

▪ High security demands

▪ On-premise data center demands ▪ Market is being disrupted▪ Mainframe is still significant part of the IT landscape

5.6%

42%

3.3%

21%

NNIT estimated market share

Share of non-NNG revenue

14%

3.5%

NNIT estimated market share

Share of non-NNG revenue

21

▪ Stable market situation with stable vendor situation

▪ NNIT strong at the Danish market and keeping position

▪ IT cost to move towards SAAS IT and business transformation

Market situation for our Life Sciences clients

Life Sciences DenmarkNNIT estimated market share

Share of non-NNG revenue

Market size

2018E: 1.0bn

2022E: 1.3bn

CAGR: 6.8%

22%

12%

▪ NNIT upcoming internationally – strong in Veeva and Quality Management

▪ IT cost to move towards SAAS IT and business transformation

▪ Strong need for dedicated LS IT business partner due to change in LS core applications

International Life SciencesNNIT estimated market share

Share of non-NNG revenue

Market size

2018E: 70.4bn

2022E: 87.6bn

CAGR: 5.6%

DK

11%

0.6%

INT

▪ More challenging and uncertain due to Novo Nordisk situation

▪ NNIT strong at HQ/corporate systems and selected regions but low market share in North America

▪ IT cost development will vary significant across areas

Source: Gartner (2018), Novo Nordisk data is from IPO (2014), NNIT estimates, 2018 NNIT revenueAll numbers in DKK

Market size

2018E: 2.5bn

NNIT estimated market share

Share of total revenue

Novo Nordisk

50%

37%

DK

22

International life sciences strategy

Pharma tier 1Big pharma

Pharma tier 2~3,000-10,000 employees

Regulatory driven focused offerings

Regulatory driven focused offerings

Advisory, Professional Services, Projects and LS Managed Services (AO/IO)

Advisory, Projects and tower based LS Managed Services (AO/IO)

Expert knowledge13 accounts

Scale fit14 accounts

Historic growth has been organic.

Strategic acquisitions can accelerate growth if the right candidates are identified.

Accounts are excl. China and Biotech

23

Near shore and Offshore Integrated Low Cost Delivery Capabilities have Grown by almost 3x

Geographical Footprint (1)

Our Global Delivery Model Serves Our Ambition of Expanding Our Geographical Footprint

Well-Integrated Global Delivery Model

% of FTEs

31st December 2010 31st December 2018

FTEs: 1,469

82%

16%

51%

46%

Other3% (3)

FTEs: 3,214

Other2% (2)

▪ The integrated delivery model allows NNIT to price its services competitively compared to offshore vendors▪ Full integration between delivery centers, with direct relationships and lines of communication between teams▪ Strategic decision to open offshore in China rather than India based on less competitive labor market and NNIT’s

existing presence in China which was anticipated to lead to lower attrition rates and shorter time to operation

Notes1. Key geographies only2. Switzerland3. Includes Switzerland, Germany, UK, Ireland, Norway and the US

24

COGS

Support Costs

…Via Continued Focus on Cost Efficiency…

33% 37% 41% 44% 46%

2014 2015 2016 2017 2018

Other Offshore / Nearshore

4,6%5,0% 4,9% 4,7%

4,2%4,3% 4,6%4,1% 4,0%

3,5%

2014 2015 2016 2017 2018

Sales and Marketing Administration

% of employees based in low cost locations (1)

◼ Continuous effort to decrease support costs

◼ Strategy is to continue to move back-office functions offshore

◼ Investment already made in ERP system and enlarged HQ enhances scalability of the business

Support costs as % of revenues (%)

Note1. Offshore/nearshore = China, Philippines, Czech Republic ; Other = Denmark, Switzerland, US, Germany, UK, Ireland, Norway

◼ NNIT has increased the number of employees in low cost geographies to meet our clients’ requirements of cost efficient, high quality and flexible delivery

◼ Continuously optimization of costs through automation and artificial intelligence

25

At NNIT Since

Relevant Experience

✓Long-term Strategic

Vision

✓Expertise of

Regulated Industries

✓Strong and

Focused Customer Approach

✓Fundamental

Transformation of the Company

✓Consistent Financial

Track Record

✓Reputation for Quality

Ricco Larsen (SVP, Life Sciences unit)

Per Kogut (President and Chief Executive Officer)

Carsten Krogsgaard Thomsen (EVP and Chief Financial Officer)

1999

2007

2014

Experienced Management Team with a Proven Track Record

Claus Middelboe Andersen (SVP, Projects & Consulting unit)2017

2010Brit Kannegaard Johannessen (SVP, People, Communication Marketing, IT &

Quality)

2009 Jacob Hahn Michelsen (SVP, Private & Public unit)

Søren Østergaard (SVP, Infrastructure & Application Services unit)2009

26