A Research Study to See How Semaglutide Helps People With Excess Weight and Type 2 Diabetes Lose Weight

Inclusion Criteria:

• Male or female.

• Age above or equal to 18 years at the time of signing informed consent.

• BMI greater than or equal to 30.0 kilograms per square meter (kg/m^2).

• Diagnosed with type 2 diabetes (T2D) greater than or equal to 180 days prior to theday of screening.

• History of at least one self-reported unsuccessful dietary effort to lose bodyweight.

• HbA1c 7.0-10.0 percent (53-86 millimoles per mole [mmol/mol]) (both inclusive) asmeasured by central laboratory at screening.

Exclusion Criteria:

• A self-reported change in body weight greater than 5 kilograms (kg) (11 pounds [lbs]) within 90 days before screening irrespective of medical records.

• Personal or first-degree relative(s) history of multiple endocrine neoplasia type 2or medullary thyroid carcinoma.

• Renal impairment with estimated Glomerular Filtration Rate (eGFR) less than 30milliliters per minute per 1.73 square meter (30 mL/min/1.73 m^2) (less than 45mL/min/1.73 m^2 in participants treated with Sodium-glucose Cotransporter-2 [SGLT2i]) according to Chronic Kidney Disease Epidemiology Collaboration (CKD-EPI)creatinine equation as defined by Kidney Disease: Improving Global Outcomes (KDIGO) 2012 by the central laboratory at screening.

• Uncontrolled and potentially unstable diabetic retinopathy or maculopathy. Verifiedby a fundus examination performed within 90 days before screening or in the periodbetween screening and randomization. Pharmacological pupil-dilation is a requirementunless using a digital fundus photography camera specified for non-dilatedexamination.