Novonesis AS

Transaction in Own Shares • Feb 8, 2021

Initiation of stock buyback program

On February 8, 2021, Novozymes will initiate a stock buyback program as announced in Company Announcement No. 1, of February 2, 2021. Under the program Novozymes will buy back B shares worth up to DKK 1.5 billion in total during the remainder of 2021, corresponding to around 4.1 million B shares at the current share price. The program is contingent upon no major strategic initiatives being decided upon that will require a significant amount of capital, for example a major acquisition.

The stock acquired within the program will be used to reduce the common stock and to meet obligations arising from stock-based incentive programs. The cancelation of stock will take place after the program is finished and will be subject to approval at the Annual Shareholders' Meeting.

Novozymes' majority shareholder, Novo Holdings A/S, a holding company wholly owned by the Novo Nordisk Foundation, has informed Novozymes that it intends to consider its participation in Novozymes' stock buy-back program on a year-by-year basis and that, for 2021, it plans to participate in the program. Novo Holdings A/S intends to reduce its holding of B shares so that it will continue to hold around 25.5% of the total shares.

The maximum number of shares to be purchased by the company per daily market session will be equivalent to no more than 25% of the average volume of shares in the company traded on NASDAQ OMX Copenhagen during the preceding 20 business days. The program will run in accordance with the commission regulation (EU) 596/2014 of 16 April 2014, also known as the "Market Abuse Regulation", and commission regulation (EU) 1052/2016 of 8 March 2016.

February 8, 2021 Company announcement No. 05

Contact information novozymesIR@novozymes.com

Tobias Cornelius Björklund +45 3077 8682 tobb@novozymes.com

Carl Ahlgren +1 919 702 6144 cxal@novozymes.com

Ulrik Wu Svare +45 3077 3187 ulms@novozymes.com

About Novozymes

Novozymes is the world leader in biological solutions. Together with customers, partners and the global community, we improve industrial performance while preserving the planet's resources and helping build better lives. As the world's largest provider of enzyme and microbial technologies, our bioinnovation enables higher agricultural yields, low-temperature washing, energyefficient production, renewable fuel and many other benefits that we rely on today and in the future. We call it Rethink Tomorrow. www.novozymes.com

Novozymes A/S CVR number: 10 00 71 27 LEI: 529900T6WNZXD2R3JW38

Novozymes A/S Krogshoejvej 36 2880 Bagsvaerd Denmark

Phone: +45 4446 0000