Purpose and sustainability In an increasingly complex and unpredictable world, the intersection of climate change, health inequity and the rising prevalence of serious chronic diseases presents an unprecedented risk to both human and planetary health. Recognising the magnitude of these challenges, we are aiming to expand the reach and societal impact of our life-changing medicines and preventive health initiatives while striving to reduce our CO 2 e emissions, plastic footprint and impact on nature. As the global prevalence of serious chronic diseases continues to increase, overburdened healthcare systems face growing pressure to deliver cost-effective, quality care, while millions of people lack access to essential treatments. In 2024, we reached more than 45.2 million people with our life-changing medicines – an increase of 3.6 million compared to 2023. As our business grows, so does our social responsibility to support vulnerable populations, and this year we were able to reach 8.4 million vulnerable people living with diabetes – a slight decrease compared to 2023. With the aim of addressing growing health inequities, we are broadening our access and affordability initiatives, including programmes like Changing Diabetes ® in Children. Since its inception in 2009, this programme has provided care and support to more than 64,000 young people – keeping us on track to achieve our ambition of reaching a total of 100,000 children by 2030. Prevention is similarly critical to reducing the global health burden, and we are investing more in preventive health measures than ever before. Our GLP-1-based medicines hold the potential to deliver substantial long-term healthcare savings by improving patient outcomes and reducing the need for more intensive treatments. Meanwhile, the 2024 expansion of our pioneering urban health initiative, Cities for Better Health, showcases our growing ambition to drive change outside the clinic. Building upon a decade of insights, this expanded partnership programme now includes a Childhood Obesity Prevention Initiative (COPI) aiming to deliver measurable, community-driven interventions that promote healthy eating and physical activity among children living in underprivileged urban communities. Initially launching in six cities across five continents, COPI complements our existing work with UNICEF to prevent this escalating problem. We also prioritise environmental sustainability – including nature and biodiversity – across our value chain and have a clear focus on decoupling our environmental impact from our growth as we progress towards our net zero 2045 emissions target. This will be a significant challenge with emissions continuing to rise as our business expands to keep pace with demand, but we are determined to step up to the task. To this end, we have updated roadmaps targeting reductions in our emissions, plastic footprint and impact on nature and biodiversity, each laying out a clear path towards creating a more sustainable business. Key focus areas include supporting our suppliers through a transition to renewable energy, switching to reusable injection devices for our medicines wherever possible and exploring the use of low-impact glucose alternatives in our production processes. Despite the scale of the challenges ahead, our commitment to improving human and planetary health remains unwavering. We are determined to do more with less – reaching more vulnerable people with our life-saving medicines and doing more to curb the rising prevalence of serious chronic diseases, all while minimising our environmental impact. Strategic Aspirations 2025 1 Progress towards zero environmental impact 2 Being respected for adding value to society 3 Being recognised as a sustainable employer Driving change in chronic disease prevention We are taking determined action to prevent serious chronic diseases, focusing on improving urban health for vulnerable communities and preventing childhood overweight and obesity. These efforts are complemented by our Transformational Prevention Unit, which aims to develop scalable and accessible science-based solutions that can predict and pre-empt obesity and its consequences. Our pioneering urban health programme, Cities for Better Health (CBH), sits at the forefront of our prevention efforts. Now with a broadened scope that aligns with our expansion into new therapy areas, this public-private partnership drives action to prevent serious chronic diseases across a global network of 51 large cities. The Childhood Obesity Prevention Initiative (COPI) is the latest initiative to come out of CBH. Taking aim at childhood overweight and obesity, it seeks to deliver measurable, community-driven interventions promoting healthy eating and physical activity among children living in underprivileged urban communities. Guided by a global evidence-based framework, these measures will target children aged between six and 13, aiming to positively affect diet and physical activity, improve health-related quality of life and promote healthy weight. The initiative complements our ongoing collaboration with UNICEF to tackle childhood obesity, where we are focusing on building healthy environments that enable and empower children to eat well and be active. Tackling growing health disparities Millions currently lack access to diabetes care due to high costs or unavailability, often with devastating consequences. In 2024, we reached 8.4 million vulnerable people with diabetes, a 5% decrease from last year, mainly due to reduced tender sales of human insulins. Despite this, our commitment to addressing health inequity remains unwavering. We are intensifying efforts to make care more affordable for vulnerable populations, improve supply chains and build capacity for diagnosis and disease management. Key initiatives include Changing Diabetes ® in Children (CDiC), which has reached over 64,000 children with type 1 diabetes in low- and middle-income countries since 2009. Support can include free life-saving medicine, blood glucose monitoring equipment and medical supplies for young people under 25. In the past year, the programme integrated new digital elements to support access to care in vulnerable settings. This includes the ‘Diabetes Besties’ video series, which helps bridge the gap in patient education for children living with diabetes. Other initiatives include Partnering for Change, a collaboration with the Danish Red Cross to address health issues in humanitarian crises, and iCARE, an integrated business model aimed at breaking down barriers to diabetes care in Middle Africa and Indonesia. iCARE provides affordable insulin, trains healthcare providers and empowers people with diabetes to improve their health and quality of life. 1. The 2023 figure has been restated. Read more on page 75 in the full Annual Report 2024 PDF . Decoupling environmental impact from our growth Our commitment to delivering life-changing medicines to millions of people worldwide compels us to responsibly manage our use of water, energy and resources. We have made significant progress in reducing our scope 1 and 2 emissions since 2019. However, our scope 3 emissions, which comprise about 96% of our total emissions, continue to rise as we grow to meet increasing demand for our medicines. To achieve net zero emissions by 2045, we have a roadmap to reduce scope 3 emissions by 33% by 2033, using 2024 as the baseline. This target – which covers nearly 70% of our scope 3 emissions in accordance with Science Based Targets initiative (SBTi) provisions – is aligned with climate science and has been submitted to the SBTi for validation. Key decarbonisation measures include switching to low-carbon materials and feedstock across our production network, shifting our distribution model to low-emissions transportation and supporting our suppliers in transitioning to renewable energy. To date, more than 1,800 suppliers have already committed to make the switch. At the same time, we acknowledge that these measures will not be enough to meet our target, and will therefore investigate additional levers – including new technologies – to close this gap. Additionally, we have sharpened our focus on the impact of our operations on nature and biodiversity, setting an ambition to halt nature loss across our value chain by 2033 and achieving nature-positive status by 2045.

1. The 2023 figure has been restated; read more about this and our emissions targets on page 57 in the full Annual Report 2024 PDF . Reducing our plastic footprint Around the world , million s of people with serious chronic diseases depend on medical devices. Once used, many of these devices end up in landfills or are incinerated, wasting tonnes of valuable materials that could be recycled. As the number of people who rely on our medicines increases, so does our obligation to help address the related environmental issues – including plastic waste. To this end, we are targeting a 30% reduction in the amount of plastic used per patient by 2033, underpinned by the adoption of a reduce, change and avoid approach across our diabetes and obesity portfolio. We aim to achieve this by transitioning from disposable to reuseable devices and by developing new medicines designed to be administered less frequently. In addition, we are scaling up our ReMed™ device take-back scheme to avoid plastic waste ending up in landfills. ReMed™ is built on the success of our local take-back pilot programmes, enabling pen users to return their used devices to give the plastic a new life. Four years on, and more than four million returned pens since the launch of the first pilot, the scheme is now active in seven key markets – including Denmark, where we collaborate with other healthcare companies to offer a unique industry-wide solution. The same collaborative model will be piloted in the UK in 2025. Sustainably scaling our organisation The extraordinary surge in demand for our life-changing medicines in recent years has led to a substantial increase in the number of new hires as we expand our workforce to keep pace. Last year alone, we added 13,030 employees across our global organisation, which now comprises 77,349 colleagues worldwide. Our focus is on sustainably scaling our organisation; ensuring it is run efficiently, our priorities remain clear and our resources are used optimally. This approach helps safeguard the wellbeing of our expanding workforce and bolsters our reputation as a highly engaged and supportive place to work. Last year, we recorded an overall engagement score of 85% in our annual company survey, which saw a record 90% of all employees participate. To support the integration of our new colleagues, we aim to equip all new hires with the support and resources they need to onboard and connect with our strong company culture and purpose, which remain essential to our success. By dedicating additional time and resources to this integration process, we also help to foster an environment that values diverse perspectives and ensures every employee feels included. Moreover, it is crucial that we maintain a sustainable work-life balance for all our employees. As our business grows, we are carefully monitoring workplace stress levels, targeting a 10% annual reduction in the number of employees reporting symptoms of stress. Although we did not meet this target in 2024, when overall stress levels remained unchanged year-on-year at 13.8%, we will continue to implement new measures to address symptoms of stress at the earliest opportunity. The foundation of our commitment to supporting the wellbeing and development of our employees is the Novo Nordisk Way; a set of guiding principles constituting the core of our identity and operations. It bridges our company’s past, present and future, steering our strategy, decisions and behaviours. By familiarising new employees with the 10 Essentials that direct the decisions and actions of every Novo Nordisk colleague, we uphold our dedication to the company’s core values of openness, accountability and respect. We employ a distinctive, systematic approach known as facilitation – value audits – to ensure that all employees adhere to these Essentials. Corporate governance Governance structure The shareholders of Novo Nordisk exercise their rights at the Annual General Meeting, which is the supreme governing body of the company. The general meeting, inter alia, adopts the company’s Articles of Association, approves the Annual Report and elects the Board of Directors. Any shareholder has the right to raise questions at general meetings. Resolutions can generally be passed by a simple majority. However, resolutions to amend the Articles of Association require two-thirds of the votes cast and capital represented, unless other adoption requirements are imposed by the Danish Companies Act. Novo Nordisk has a two-tier management structure consisting of the Board of Directors and Executive Management. The governance structure and rules of Novo Nordisk are further described in our Articles of Association and our Corporate Governance Report, both available at: www.novonordisk.com/about/corporate-governance.html . Foundation ownership Novo Holdings A/S , a Danish company wholly owned by the Novo Nordisk Foundation, holds the majority of votes at Novo Nordisk A/S ’ general meetings. The combination of foundation ownership and stock listing enables Novo Nordisk to embark on long-term sustainable strategies while maintaining short-term transparency on performance. Our foundation ownership supports the overarching imperative to be both commercially successful and responsive to the wider needs of society. The Novo Nordisk Foundation has two objectives: to provide a stable basis for the commercial and research activities of Novo Nordisk , Novonesis and additional companies in Novo Holdings’ investment portfolio; and to support scientific, humanitarian and social causes. Please refer to the section on value creation . Find out more information about the ownership structure of Novo Nordisk . Corporate governance reporting Novo Nordisk reports in accordance with the Danish Corporate Governance Recommendations, which are implemented by Nasdaq Copenhagen in the Nordic Main Market Rulebook for Issuer of Shares, as well as the Corporate Governance Standards of the New York Stock Exchange applicable to foreign private issuers. Novo Nordisk complies with the Danish Corporate Governance Recommendations as we account for which recommendations we comply with or deviate from and explain our chosen approach. You can find further information about our corporate governance practices and statement on our approach to each of the Danish Corporate Governance Recommendations as well as the Corporate Governance Standards of the New York Stock Exchange in our Corporate Governance Report, available at: www.novonordisk.com/about/corporate-governance.html . Executive remuneration is linked to financial performance as well as non-financial performance (e.g. innovation and sustainability). Novo Nordisk has prepared a separate Remuneration Report describing the remuneration awarded or due during 2024 to the Board of Directors and Executive Management members registered with the Danish Business Authority. The Remuneration Report is submitted to the Annual General Meeting for an advisory vote. The Remuneration Policy and the Remuneration Report are available at: www.novonordisk.com/about/corporate-governance.html . Disclosure regarding change of control provisions It is disclosed that Novo Nordisk does not have any material contracts that take effect, alter or terminate upon a change of control of Novo Nordisk following implementation of a takeover bid. In the event of termination – whether by Novo Nordisk or by the individual – due to a merger, acquisition or takeover of Novo Nordisk , members of Executive Management registered with the Danish Business Authority are, in addition to the notice period, entitled to a severance payment of 24 months’ base salary plus pension contribution. Ethics and compliance In Novo Nordisk , we have an ethics and compliance programme which comprises of a code of conduct (OneCode), requirements (The Ethics Navigator), processes and awareness and capability building as stipulated in the seven elements of an effective compliance programme. Data privacy is a key component in our ethical principles, ensuring guardrails are in place to manage and mitigate risks, thus safeguarding our patients and society at large. We have also adopted a set of principles for data and artificial intelligence (AI) ethics to support ethical decision-making. We have initiated building our AI Ethics & Compliance framework, incorporating elements such as principles, requirements and risk assessments, as well as building AI literacy training and capabilities. You can read more about these principles, in accordance with the Danish Financial Statements Act Section 99d, at: www.novonordisk.com/data-privacy-and-user-rights/data-ethics.html .