Novo Nordisk A/s Class B · OMXCOP:NOVO_B
Novo Nordisk A/s Class B — Shareholder Meeting (March 2026)
51 slides from Novo Nordisk A/s Class B's shareholder meeting presentation, Mar 26, 2026
Slide 1: Annual General Meeting
Annual General Meeting Novo Nordisk® 26 March 2026 1
Slide 2: novo nordisk
O oe novo nordisk
Slide 3: Board of Directors
Novo Nordisk® Board of Directors Lars Rebien Sørensen Kasim Kutay Cees De Jong Stephan Engels Britt Meelby Jensen Elisabeth Dahl Christensen Liselotte Hyveled Mette Bøjer Jensen Tanja Villumsen
Slide 4: Executive Management
Novo Nordisk® Executive Management Maziar Mike Doustdar* President and chief executive officer (CEO) US Operations International Finance, Legal & Research & CMC & Product Supply Product & Portfolio People, Organisation & Enterprise Quality & IT Corporate Strategy & Global Legal, IP & Operations Glob
Slide 5: Sumit Sudan and Lars Siggaard Hansen
Novo Nordisk® Sumit Sudan and Lars Siggaard Hansen
Slide 6: Anders Ørjan Jensen and Louise Korpela
Novo Nordisk® Anders Ørjan Jensen and Louise Korpela
Slide 7: Agenda
Novo Nordisk® 1. The Board of Directors’ oral report on the Company’s activities in the past financial year 2. Presentation and adoption of the audited Annual Report 2025 3. Resolution to distribute the profit according to the adopted Annual Report 2025 Agenda Agenda 4. Presentation of and advisory
Slide 8: Shareholders participating in person: how to log in using the QR code
Novo Nordisk® Shareholders participating in person l How to log in using the QR code Log in to the meeting 1. Scan the QR code with the camera on your mobile phone or the provided device to log in into the meeting. Please note that the QR code on your electronic voting instruction is personal. Conne
Slide 9: Shareholders participating in person: how to vote
Novo Nordisk® Shareholders participating in person l How to vote 1. When voting motions are put forward, the motion will 2. Presentation and adoption of the 2. Presentation and adoption of the audited Annual Report for 2025 automatically appear audited Annual Report for 2025 on your screen. 2. To vo
Slide 10: Shareholders participating virtually: how to submit a question via Q&A
Novo Nordisk® Shareholders participating virtually l How to submit a question via Q&A Name 1. Click on the Q&A icon. 2. Type your question and press ‘Send’.
Slide 11: Shareholders participating virtually: how to vote (part 1)
Novo Nordisk® Shareholders participating virtually l How to vote (part 1) 1. When voting motions Name are put forward, a bar with a link to the voting tab will 2. Presentation and adoption of the automatically appear audited Annual Report for 2025 on your screen. Click on the Vote icon. 2. To vote,
Slide 12: Shareholders participating virtually: how to vote (part 2)
Novo Nordisk® Shareholders participating virtually l How to vote (part 2) 2. Presentation and adoption of the audited Annual Report for 2025 3. Your vote has been cast when the green check mark appears. You can change your vote as long as the vote is open by clicking ‘Click here to change your vote’
Slide 13: Agenda
Novo Nordisk® 1. The Board of Directors’ oral report on the Company’s activities in the past financial year 2. Presentation and adoption of the audited Annual Report 2026 3. Resolution to distribute the profit according to the adopted Annual Report 2025 Agenda Agenda 4. Presentation of and advisory
Slide 14: Agenda
Novo Nordisk® 1. The Board of Directors’ oral report on the Company’s activities in the past financial year 2. Presentation and adoption of the audited Annual Report 2025 3. Resolution to distribute the profit according to the adopted Annual Report 2025 Agenda Agenda 4. Presentation of and advisory
Slide 15: novo nordisk
O oe novo nordisk
Slide 16: Strategic Aspirations 2025 Highlights
Novo Nordisk® Strategic Aspirations 2025|Highlights Further raise innovation bar for Diabetes treatment Since 2019 • Sc. and oral Zenagamtide phase 2 trial completed Sales growth of 10% (CER) • CagriSema phase 3 REIMAGINE-2 & 3 trials completed Sales & Develop superior treatment solutions for Obesit
Slide 17: Wegovy pill launched in the US as the first and best-in-class oral GLP-1
Novo Nordisk® Wegovy® pill launched in the US as the first and best-in-class oral GLP-1 in obesity, with rapid early uptake Wegovy® pill is FDA approved with best-in- Branded AOM TRx after launch Commercial execution class weight loss Weekly TRx • Full launch since 5 January with DTC scripts (‘000s)
Slide 18: Key R&D milestones during 2026
Novo Nordisk® Key R&D milestones during 2026 ➢ Regulatory decision for Semaglutide 7.2 mg in the US1 ➢ Regulatory decision for CagriSema in Obesity in the US Obesity& ➢ Phase 3 initiation for Zenagamtide in Obesity ➢ Phase 2 initiation for UBT-251 in Obesity ➢ Phase 3 results for Ziltivekimab in CKD
Slide 19: novo nordisk
O oe novo nordisk
Slide 20: Agenda item 2 | Consolidated income statement
Novo Nordisk® Agenda item 2 | Consolidated income statement Change Change Full year 2025 Full year 2024 In DKK million (reported) (CER) Sales 309,064 290,403 6% 10% Gross profit 250,276 245,881 2% 7% Gross margin 81.0% 84.7% Sales and distribution costs (64,310) (62,101) 4% 7% Percentage of sales 20
Slide 21: Agenda item 2 | Consolidated balance sheet per 31 December
Novo Nordisk® Agenda item 2 | Consolidated balance sheet per 31 December 2025 Assets Equity and liabilities (DKK million) 2025 2024 (DKK million) 2025 2024 Non-current assets 370,449 303,842 Equity 194,047 143,486 Inventories, trade receivables and other 145,989 146,133 Non-current liabilities 133,1
Slide 22: Financial outlook for 2026
Novo Nordisk® Financial outlook for 2026 Full year expectations 3 February 2026 Guidance -5% to -13% CER Adj. sales growth1 in Danish kroner: ~3%-points lower -5% to -13% CER Adj. operating profit growth2 in Danish kroner: ~5%-points lower On a non-adjusted basis, the mid-point of sales and operatin
Slide 23: Agenda item 3 | Resolution to distribute the profit
Novo Nordisk® Agenda item 3 | Resolution to distribute the profit according to the adopted Annual Report 2025 DKK million 2025 Capital allocation priorities Net profit in the parent company, Novo Nordisk A/S 100,382 1. Internal growth opportunities: R&D and Proposed appropriation production capacity
Slide 24: novo nordisk
O oe novo nordisk
Slide 25: Agenda
Novo Nordisk® 1. The Board of Directors’ oral report on the Company’s activities in the past financial year 2. Presentation and adoption of the audited Annual Report 2025 3. Resolution to distribute the profit according to the adopted Annual Report 2025 Agenda Agenda 4. Presentation of and advisory
Slide 26: Agenda item 4 & 5.1 | Remuneration Report 2025 and Board remuneration
Novo Nordisk® Agenda item 4 & 5.1 | Remuneration Report 2025 and Board remuneration of 2025
Slide 27: Agenda item 5.2 | Approval of remuneration level of the Board for 2026
Novo Nordisk® Agenda item 5.2 | Approval of the remuneration level of the Board of Directors for 2026 Audit People & Governance Remuneration R&D Board Committee Committee Committee Committee Multiplier DKK Multiplier DKK Multiplier DKK Multiplier DKK Multiplier DKK Chair 4 3,564,600 1 891,150 0.5 44
Slide 28: novo nordisk
O oe novo nordisk
Slide 29: Agenda
Novo Nordisk® 1. The Board of Directors’ oral report on the Company’s activities in the past financial year 2. Presentation and adoption of the audited Annual Report 2025 3. Resolution to distribute the profit according to the adopted Annual Report 2025 Agenda Agenda 4. Presentation of and advisory
Slide 30: Agenda item 6 | Election of members to the Board of Directors
Novo Nordisk® Agenda item 6|Election of members to the Board of Directors Election of members to the Board of Directors, including chair and vice chair • Item 6.1 Election of chair • Item 6.2 Election of vice chair • Item 6.3 Election of other members to the Board of Directors
Slide 31: novo nordisk
O oe novo nordisk
Slide 32: Agenda item 6.1 | Election of chair
Novo Nordisk® Agenda item 6.1 | Election of chair Lars Rebien Sørensen Chair
Slide 33: Agenda item 6.2 | Election of vice chair
Novo Nordisk® Agenda item 6.2 | Election of vice chair Cees de Jong Vice chair
Slide 34: Agenda item 6.3 | Election of other members to the Board
Novo Nordisk® Agenda item 6.3 | Election of other members to the Board of Directors Stephan Engels Britt Meelby Jensen Kasim Kutay
Slide 35: Agenda item 6.3 | Helena Saxon
Novo Nordisk® Agenda item 6.3 | Election of other members to the Board of Directors Helena Saxon Swedish. Born 1970. Female. Proposed election as a new member. Independent. Positions and management duties • Member of the Board of H&M Hennes & Mauritz AB. • Member of the Board of Stockholm School of
Slide 36: Agenda item 6.3 | Jan van de Winkel
Novo Nordisk® Agenda item 6.3 | Election of other members to the Board of Directors Jan van de Winkel Dutch. Born in 1961. Male. Proposed for election as a new member. Independent. Positions and management duties • Co-founder and President & Chief Executive Officer of Genmab A/S. • Professor of Immu
Slide 37: Agenda item 6.3 | Ramona Sequeira
Novo Nordisk® Agenda item 6.3 | Election of other members to the Board of Directors Ramona Sequeira Canadian. Born in 1965. Female. Proposed for election as a new member. Independent. Positions and management duties • Member of the Board of Organon & Co., Inc. • Member of the Board of Edwards Lifesc
Slide 38: Employee-elected members of the Board of Directors
Novo Nordisk® Employee-elected members of the Board of Directors Elisabeth Dahl Christensen Mette Bøjer Jensen Semsi Kilic Madsen Désirée Jantzen Asgreen
Slide 39: Agenda item 6.3 | Poul Weihrauch to join as Board observer
Novo Nordisk® Agenda item 6.3 | Poul Weihrauch to join as Board observer Poul Weihrauch Danish. Born in 1968. Male. Proposed as observer for 2026/2027 with the intention to of nominating him for election as an ordinary Board member at the AGM in 2027. Positions and management duties • CEO and Office
Slide 40: Agenda item 7 | Appointment of auditor
Novo Nordisk® Agenda item 7 | Appointment of auditor Appointment of Deloitte Statsautoriseret Revisionspartnerselskab as auditor regarding financial and sustainability reporting.
Slide 41: novo nordisk
O oe novo nordisk
Slide 42: Agenda
Novo Nordisk® 1. The Board of Directors’ oral report on the Company’s activities in the past financial year 2. Presentation and adoption of the audited Annual Report 2025 3. Resolution to distribute the profit according to the adopted Annual Report 2025 Agenda Agenda 4. Presentation of and advisory
Slide 43: Agenda item 8 | Proposals from the Board of Directors
Novo Nordisk® Agenda item 8 | Proposals from the Board of Directors Proposals from the Board of Directors and shareholders • Item 8.1 Authorisation to the Board of Directors to repurchase own shares • Item 8.2 Authorisation to the Board of Directors to increase the Company’s share capital • Item 8.3
Slide 44: Agenda item 8.1 | Authorisation to repurchase own shares
Novo Nordisk® Agenda item 8.1 | Authorisation to the Board of Directors to repurchase own shares Proposal • Authorisation to the Board of Directors, until the Annual General Meeting in 2027, to allow the Company to repurchase own shares of up to 10% of the share capital, subject to a holding limit o
Slide 45: Agenda item 8.2 | Authorisation to increase the share capital
Novo Nordisk® Agenda item 8.2 | Authorisation to the Board of Directors to increase the share capital Proposals • Extend the Board of Directors' authorisations of issuing new shares with or without pre- emptive rights for existing shareholders by one year until 1 April 2028 and to limit the maximum
Slide 46: Agenda item 8.3 | Amendment of location of general meetings
Novo Nordisk® Agenda item 8.3 | Amendment of location of general meetings due to new name of region Proposals • According to Article 6.2 of the Articles of Association, the Company’s general meetings shall be held in the Capital Region of Denmark. This region will be combined into a new region, the
Slide 47: novo nordisk
O oe novo nordisk
Slide 48: Agenda item 9 | Any other business
Novo Nordisk® Agenda item 9|Any other business
Slide 49: novo nordisk
O oe novo nordisk
Slide 50: Annual General Meeting
Annual General Meeting 50 Novo Nordisk® 26 March 2026
Slide 51: Election of other members to the Board: how to vote
Novo Nordisk® Election of other members to the Board of Directors l How to vote 1. To vote for the election of other members to the Board of Directors, select your voting direction from the options shown on the screen. You are permitted to vote on 6 out of the 6 candidates. You can change your vote