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Novo A/S

Mission statement:

Novo’s mission is to represent the economic interests of the Novo Nordisk Foundation, and as such:
ensure that the Foundation receives sufficient dividends to cover its grants
ensure that the Foundation obtains a competitive return on its holdings in Novo Nordisk A/S and Novozymes A/S, an average return of 7-10% p.a. on financial investments, and an average return of 15-20% p.a. on venture investments
actively support the individual company in achieving its own goals, e.g. competitive financial results
invest in companies that are or will become successful and/or can support the development of other companies in the Group
expand the business areas of the Novo Group according to our vision
support the application of life sciences by investing in our portfolio companies
maintain the 'Charter for companies in the Novo Group'

Overview:

Novo A/S is a Danish private limited liability company fully owned by the Novo Nordisk Foundation, and the holding company of the Novo Group and as such the majority shareholder in the publicly listed companies Novo Nordisk A/S and Novozymes A/S.

Novo A/S was established in 1999 prior to the demerger of Novo Nordisk A/S, where Novozymes A/S was established as a standalone publicly listed company. Novo's purpose and objectives are to manage the Foundation's financial assets and to ensure the Foundation sufficient dividends to cover its grant obligations for medical and scientific research etc. in Scandinavia.

Novo A/S attains these objectives by:
ensuring that all companies in which the company has a material influence actively contribute to the development of the Novo Group and operate their business in accordance with the visions and values of the Novo Group,
maintaining of a material influence on Novo Nordisk A/S and Novozymes A/S,
complying with the rules and principles which are set out in articles 3 and 4 in the Articles of Association of the Novo Nordisk Foundation regarding exercise of the voting rights of A and B shares in Novo Nordisk A/S and Novozymes A/S, respectively, and
investment and financing business including placing of capital in companies and real property domestically and abroad.

Novo’s overall investment strategy is thus to maintain ownership of Novo Nordisk’ and Novozymes’ shares at a level just above 25% and to invest dividends from these companies and other income in life science ventures as well as in a broad portfolio of financial assets.

Novo A/S has since 1999 established itself as an international venture capital partner in the life science area and has invested in over 50 companies in Denmark, Europe and North America.

Through its financial investment activities Novo A/S seeks to spread the company’s total financial risk and at the same time to ensure a high return taking into consideration the chosen risk profile.

In 2007 Novo A/S together with the Novo Nordisk Foundation established ‘Novo Seeds’. The new program (split into two sub-programs) is aimed at supporting early stage applied research in the life science area in Scandinavia.

Novo A/S represents the interests of the Novo Nordisk Foundation through participation on the boards of the companies in the Novo Group.

Vision:

Novo wants the Novo Group to position itself as a lead player within improved disease management and utilisation of resources, primarily through development and application of biotechnology.

This will all be reflected by adherence to these statements:
the Novo name is always associated with respect and synonymous with high quality in all matters
the image and general reputation of the Novo Group is maintained at a high level
the companies in the Novo Group are companies for whom (and together with whom) competent people want to work
it is attractive to be a member of the Novo Group
it is attractive to be a shareholder in the Novo Group companies
it is prestigious to obtain grants from the Novo Nordisk Foundation
the companies in the Novo Group work with groundbreaking technologies and are among the leaders of development within biotechnology
several new products, processes and technologies exist within and are developed by the Novo Group

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