🧾 What This Document Is

This is a Form 6-K, a standard report that foreign companies like Novo Nordisk file with the U.S. SEC to keep American investors informed. This specific report is a routine update on their ongoing share buyback program.

👉 In simple terms: It’s a public receipt showing how much of its own stock the company has been buying back recently.

🏢 What The Company Does

Novo Nordisk is a global healthcare giant, famous for its diabetes care drugs like Ozempic and Wegovy. They also focus on other serious chronic diseases. Founded in 1923 and based in Denmark, they employ about 68,800 people and sell products in around 170 countries.

💰 The Buyback Program: Key Numbers

The company is executing a massive DKK 15 billion (Danish Krone) share repurchase program over 12 months, starting February 4, 2026.

Here’s the progress as of March 27, 2026:

• Total spent so far: DKK 2.4 billion (2,399,878,368 DKK).
• Total shares bought: 9,162,992 B shares.
• Average price paid per share: DKK 261.91.

👉 Why it matters: This shows the company is actively using its cash to reward shareholders by reducing the number of shares available, which can increase the value of remaining shares.

📊 Recent Buying Activity

The report details the purchases from March 23 to March 27, 2026. Here’s a snapshot:

• They bought between 260,000 and 265,000 shares each day.
• The daily price ranged from DKK 228.85 to DKK 238.74.
• The total value for this one week was about DKK 308 million.

👉 Why it matters: The daily updates show the program is running smoothly and consistently. The varying prices reflect normal market fluctuations.

📦 What This Means for the Company's Stock

After these purchases, Novo Nordisk now holds 26.5 million of its own B shares as "treasury shares."

• This equals about 0.6% of the company's total share capital.
• The company has a total of 4,465,000,000 A and B shares outstanding.

👉 Why it matters: Treasury shares are not considered "outstanding." By holding them, Novo Nordisk effectively cancels their voting power and their share of future dividends, benefiting other shareholders.

💸 Why Companies Buy Back Shares

Share buybacks are a way for a confident company to return capital to shareholders. Instead of paying a special dividend, they invest in themselves by purchasing their own stock on the open market.

• Goal 1: Signal to the market that management believes the stock is a good value.
• Goal 2: Increase earnings per share (EPS) by reducing the total number of shares.

⚖️ Big Picture: Strengths & Risks

• 👍 Strength: A DKK 15 billion buyback program signals strong financial health and confidence in future cash flows. It’s a direct return to shareholders.
• ⚠️ Risk: Using cash for buybacks means that money isn't being used for other things like R&D, acquisitions, or paying down debt. Investors must trust management's capital allocation.

🧠 The Analogy

Think of Novo Nordisk as a pizza restaurant owned by 100 people. The restaurant is so profitable that it uses its extra cash to buy back slices of pizza from the owners. Now, the same delicious pizza is divided among fewer slices, making each remaining slice slightly more valuable.

📇 Key Contacts & People

Media:

• Ambre James-Brown: [email protected], +45 3079 9289
• Liz Skrbkova (US): [email protected], +1 609 917 0632

Investors:

• Michael Novod: [email protected], +45 3075 6050
• Jacob Martin Wiborg Rode: [email protected], +45 3075 5956
• Max Ung: [email protected], +45 3077 6414
• Sina Meyer: [email protected], +45 3079 6656
• Alex Bruce: [email protected], +45 34 44 26 13
• Christoffer Sho Togo Tullin: [email protected], +45 3079 1471
• Frederik Taylor Pitter (US): [email protected], +1 609 613 0568

Company HQ: Novo Nordisk A/S Novo Allé 1, 2880 Bagsværd, Denmark Telephone: +45 4444 8888 www.novonordisk.com CVR no: 24 25 67 90

Signed by: Maziar Mike Doustdar, Chief Executive Officer

🧩 Final Takeaway

This filing is a procedural update confirming Novo Nordisk is actively spending billions on its share buyback plan. It’s a routine but clear signal of the company's strong financial position and commitment to returning value to shareholders.