Editing Novo Nordisk A/S (section)

== Ownership Structure<ref name=":2">https://www.novonordisk.com/investors/stock-information.html</ref> ==
Novo Nordisk is a publicly traded company on the New York Stock Exchange and is part of the NASDAQ Copenhagen. The largest shareholder is Novo Holdings A/S, a Danish investment company that is owned by the families of the company's founders. Novo Holdings owns approximately 28% of Novo Nordisk's shares.

As of 9 May 2023, the A shares held by Novo Holdings A/S represented 23.8% of the total share capital and 75.8% of the total votes of Novo Nordisk. In addition, the B shares held by Novo Holdings A/S represented 4.4% of the total share capital and 1.4% of the total votes. In total, as of 9 May 2023 Novo Holdings A/S’ ownership amounted to 28.2% of share capital and 77.2% of votes of Novo Nordisk. Treasury shares are included in the above, however voting rights of treasury shares cannot be exercised.

Novo Holdings A/S is wholly owned by the Novo Nordisk Foundation. The Novo Nordisk Foundation has a dual objective: to provide a stable basis for the commercial and research activities conducted by the companies within the Novo Group (of which Novo Nordisk A/S is that largest) and to support scientific, humanitarian, and social purposes.

Novo Nordisk is not aware of the existence of any agreements between shareholders on the exercise of votes or control.

The stake held by Board members and employees cannot be determined exactly. However, Novo Nordisk estimated that as of January 31, 2023, the B shares held by Novo Nordisk’s Board members and employees represented less than 1% of the beneficial ownership of the Company.

Novo Nordisk’s share capital is DKK 451,000,000, which is divided into an A share capital of nominally DKK 107,487,200 and a B share capital of nominally DKK 343,512,800.

All A shares are held by Novo Holdings A/S, a Danish private limited liability company wholly-owned by the Danish self-governing foundation, the Novo Nordisk Foundation. Please see further information in “Ownership Structure”.

The A shares are not listed but are in principle transferable. However, according to the Articles of Association of the Novo Nordisk Foundation, the A shares cannot be divested by Novo Holdings A/S or the Foundation.

The B shares are listed on Nasdaq Copenhagen under the ticker “NOVO B” and on the New York Stock Exchange (NYSE) as American Depository Receipts (ADRs) under the ticker “NVO” and are fully transferable.

Each A share of DKK 0.01 carries 10 votes, whereas each B share of DKK 0.01 carries one vote. Thus, each B share of DKK 0.2 (the present denomination of the company's shares) carries 20 votes and each A share of DKK 0.2 carries 200 votes.

The current differentiation of voting rights cannot be revoked, as this would violate the Articles of Association of the Novo Nordisk Foundation, which have been approved by the Danish Foundation Authority.

On 2 January 2014 the B shares were split in a five-for-one ratio and the trading unit of the B shares listed on Nasdaq Copenhagen was changed from DKK 1 to DKK 0.2. On 9 January 2014, each of Novo Nordisk’s American Depository Receipts (ADRs) listed on New York Stock Exchange was also split in a five-for-one ratio. Hence, the ratio of B shares to ADRs listed on the New York Stock Exchange remains 1:1.<ref name=":2" />

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