Novo Nordisk A/s Class B · OMXCOP:NOVO_B
Novo Nordisk A/s Class B — Shareholder Meeting (March 2025)
53 slides from Novo Nordisk A/s Class B's shareholder meeting presentation, Mar 27, 2025
Slide 1: Annual General Meeting
Annual General Meeting Novo Nordisk® 27 March 2025 Steve Piaget, Marie Ange Gahozo and colleagues overseeing an active construction project which is a part of the investment in new active pharmaceutical ingredient facilities. Kalundborg Denmark
Slide 2: novo nordisk
O oe novo nordisk
Slide 3: Board of Directors
Novo Nordisk® Board of Directors Helge Lund Henrik Poulsen Andreas Fibig Laurence Debroux Sylvie Grégoire Kasim Kutay Martin Mackay Christina Law Elisabeth Dahl Christensen Liselotte Hyveled Thomas Rantzau Mette Bøjer Jensen
Slide 4: Executive Management
Novo Nordisk® Executive Management Lars Fruergaard Jørgensen* President and chief executive officer (CEO) International Finance, Legal & US Operations & People & Research & Commercial Strategy Product Supply, Rare Disease Development Operations Global Solutions Business Development Organisation Earl
Slide 5: Anders Dons
Anders Dons Deloitte. Novo Nordisk®
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 2024 3. Resolution to distribute the profit according to the adopted Annual Report 2024 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 is personal. Connect to Wi-Fi To connect to the Wi-Fi ne
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 2024 automatically appear audited Annual Report for 2024 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 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 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 2024 on your screen. Click on the Vote icon. 2. To vote, simpl
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 2024 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 2024 3. Resolution to distribute the profit according to the adopted Annual Report 2024 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 2024 3. Resolution to distribute the profit according to the adopted Annual Report 2024 Agenda Agenda 4. Presentation of and advisory
Slide 15: novo nordisk
O oe novo nordisk
Slide 16: Strategic aspirations 2025
Novo Nordisk® Strategic aspirations 2025 • Further raise the innovation-bar for diabetes treatment therapeutic focus • Progress towards zero environmental impact • Develop a leading portfolio of superior treatment Innovation and solutions for obesity sustainability Purpose and • Being respected for
Slide 17: Strategic aspirations 2025 - highlights for full year 2024: sustainability
Novo Nordisk® Strategic aspirations 2025 - highlights for full year 2024 Progress towards zero environmental impact • Overall CO2e emissions (scope 1, 2 and full scope 3) increased by 23% compared to 2023 Adding value to society: • Medical treatment provided to 45.2 million people living with diabet
Slide 18: Strategic aspirations 2025 - Innovation and therapeutic focus
Novo Nordisk® Strategic aspirations 2025 - highlights for full year 2024 Further raise innovation bar for Diabetes treatment • Awiqli® approved in the EU, Japan and China • US approval and positive EU opinion for Ozempic® label update based on the FLOW kidney trial • Regulatory submissions of the SO
Slide 19: Strategic aspirations 2025 - Commercial execution
Novo Nordisk® Strategic aspirations 2025 - highlights for full year 2024 Strengthen diabetes leadership to more than one-third: • Diabetes value market share remained unchanged at 33.7%1 More than DKK 25 billion in Obesity care sales by 2025: • Obesity care sales of DKK 65.1 billion (+57% at CER) Co
Slide 20: Strategic aspirations 2025 - Financials
Novo Nordisk® Strategic aspirations 2025 - highlights for full year 2024 Sales growth of 26% (CER) and Operating profit growth of 26% (CER) • Sales in International Operations grew by 19% (CER) • Sales in North America Operations grew by 30% (CER) Operational leverage reflecting sales growth, adjust
Slide 21: Novo Nordisk has almost tripled its global GLP-1 patient reach in 3 years
Novo Nordisk® Novo Nordisk has almost tripled its global GLP-1 patient reach in 3 years Global number of patients on GLP-1s across diabetes and obesity Patients (millions) 20 3% 15 34% 10 4% 5 38% 63% 58% 0 Nov Nov Novo Nordisk1 Eli Lilly2 Others3 % Volume market share 2021 2024 1Includes liraglutid
Slide 22: Sales growth of 26% driven by GLP-1 based treatments in diabetes and obesity
Novo Nordisk® Sales growth of 26% driven by GLP-1 based treatments in diabetes and obesity Reported therapy area sales and growth for 2024 DKK billion 26% 22% 17% 57% 9% 300 240 180 120 60 0 Total1 GLP-1 diabetes Insulin Obesity care Rare disease North America Operations International Operations Gro
Slide 23: Obesity care sales grew by 57% in 2024 mainly driven by the US
Novo Nordisk® Obesity care sales grew by 57% in 2024 mainly driven by the US NN sales and volume BAOM market growth Branded AOM TRx in the US2 DKK within Obesity care billion TRx count (‘000s) 28 84%1 154%1 57%1 140% 500 119% 450 400 21 105% 300 14 70% 200 204 7 35% 100 0 0% 0 2022 2023 2024 Jan Jan
Slide 24: Key R&D milestones expected for 2025
Novo Nordisk® Key R&D milestones expected for 2025 Phase 3 results for CagriSema in type 2 Diabetes Diabetes care Phase 2 results for amycretin Phase 2 results for once-weekly GIP/GLP-1 Regulatory submission of oral semaglutide 25 mg Obesity care Initiation and completion of additional Phase 3 trial
Slide 25: Significant investments in capacity expansions for current and future products
Novo Nordisk® Significant investments in capacity expansions for current and future products CAPEX investments Successfully completed acquisition of three fill-finish sites DKK billion 80 16% Bloomington site (Indiana, US) ~65 60 11% 8% 47 Brussels site (Belgium) 40 4% 26 20 12 Anagni site (Italy) 6
Slide 26: Strategic aspirations 2025
Novo Nordisk® Strategic aspirations 2025 • Further raise the innovation-bar for diabetes treatment therapeutic focus • Progress towards zero environmental impact • Develop a leading portfolio of superior treatment Innovation and solutions for obesity sustainability Purpose and • Being respected for
Slide 27: novo nordisk
O oe novo nordisk
Slide 28: Agenda item 2 | Consolidated income statement
Novo Nordisk® Agenda item 2 | Consolidated income statement Change In DKK million 2024 2023 (in Danish kroner) Sales 290,403 232,261 25% Cost of goods sold (44,522) (35,765) 24% Sales and distribution costs (62,101) (56,743) 9% Research and development costs (48,062) (32,443) 48% Administration cost
Slide 29: Agenda item 2 | Consolidated balance sheet per 31 December
Novo Nordisk® Agenda item 2 | Consolidated balance sheet per 31 December 2024 Assets Equity and liabilities (DKK million) 2024 2023 (DKK million) 2024 2023 Non-current assets 304,898 174,840 Equity 143,486 106,561 Inventories, trade receivables and other 145,242 125,254 Non-current liabilities 104,7
Slide 30: Agenda item 2 | Financial outlook for 2025
Novo Nordisk® Agenda item 2 | Financial outlook for 2025 Expectations 5 February 2025 Sales growth – at CER 16% to 24% Sales growth - reported Around 3 percentage points higher Operating profit growth – at CER 19% to 27% Operating profit growth – reported Around 5 percentage points higher Financial
Slide 31: Agenda item 3 | Resolution to distribute the profit according to the adopted Annual Report 2024
Novo Nordisk® Agenda item 3 | Resolution to distribute the profit according to the adopted Annual Report 2024 DKK million 2024 Net profit in the parent company, Novo Nordisk A/S 101,684 Proposed appropriation Interim dividend for the year – DKK 3.50 paid in August 2024* 15,583 Proposed final dividen
Slide 32: novo nordisk
O oe novo nordisk
Slide 33: 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 2024 3. Resolution to distribute the profit according to the adopted Annual Report 2024 Agenda Agenda 4. Presentation of and advisory
Slide 34: Agenda item 4.0 | Remuneration Report 2024; Agenda item 5.1 | Board remuneration 2024
Novo Nordisk® Agenda item 4.0 | Remuneration Report 2024 Agenda item 5.1 | Board remuneration 2024
Slide 35: Agenda item 5.2 | Approval of the remuneration level of the Board of Directors for 2025
Novo Nordisk® Agenda item 5.2|Approval of the remuneration level of the Board of Directors for 2025 Audit Nomination Renumeration R&D Board Committee Committee Committee Committee Multiplier DKK Multiplier DKK Multiplier DKK Multiplier DKK Multiplier DKK Chair 4 3,460,800 1 865,200 0.5 432,600 0.5 4
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O oe novo nordisk
Slide 37: 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 2024 3. Resolution to distribute the profit according to the adopted Annual Report 2024 Agenda Agenda 4. Presentation of and advisory
Slide 38: 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 39: novo nordisk
O oe novo nordisk
Slide 40: Agenda item 6.1 | Election of chair
Novo Nordisk® Agenda item 6.1| Election of chair Helge Lund Chair
Slide 41: Agenda item 6.2 | Election of vice chair
Novo Nordisk® Agenda item 6.2| Election of vice chair Henrik Poulsen Vice chair
Slide 42: Agenda item 6.3 | Election of other members to the Board of Directors
Novo Nordisk® Agenda item 6.3| Election of other members to the Board of Directors Laurence Debroux Andreas Fibig Sylvie Grégoire Kasim Kutay Christina Law Martin Mackay
Slide 43: Employee-elected members of the Board of Directors
Novo Nordisk® Employee-elected members of the Board of Directors Elisabeth Dahl Christensen Liselotte Hyveled Mette Bøjer Jensen Thomas Rantzau
Slide 44: 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 45: novo nordisk
O oe novo nordisk
Slide 46: 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 2024 3. Resolution to distribute the profit according to the adopted Annual Report 2024 Agenda Agenda 4. Presentation of and advisory
Slide 47: Agenda item 8 | Proposals from the Board of Directors and/or shareholders
Novo Nordisk® Agenda item 8|Proposals from the Board of Directors and/or shareholders 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
Slide 48: Agenda item 8.1 | Authorisation to the Board of Directors to repurchase own shares
Novo Nordisk® Agenda item 8.1|Authorisation to the Board of Directors to repurchase own shares Proposal • Authorisation of the Board of Directors, until the Annual General Meeting in 2025, to allow the Company to repurchase own shares of up to 10% of the share capital, subject to a holding limit of
Slide 49: Agenda item 8.2 | Authorisation to the Board of Directors to increase the share capital
Novo Nordisk® Agenda item 8.2|Authorisation to the Board of Directors to increase the share capital Proposal • 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 2027 and to limit the maximum sha
Slide 50: Agenda item 8.3 | Shareholder proposal on construction contracts
Novo Nordisk® Agenda item 8.3|Shareholder proposal on construction contracts Shareholder proposal from Kritiske Aktionærer: • In contracts with contractors who build for the company, Novo must require that there are collective agreements at the workplaces that cover the employees and that there must
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O oe novo nordisk
Slide 52: Agenda item 9 | Any other business
Novo Nordisk® Agenda item 9|Any other business
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O oe novo nordisk