<SEC-DOCUMENT>0001171843-24-003560.txt : 20240621
<SEC-HEADER>0001171843-24-003560.hdr.sgml : 20240621
<ACCEPTANCE-DATETIME>20240621103704
ACCESSION NUMBER:		0001171843-24-003560
CONFORMED SUBMISSION TYPE:	11-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20231231
FILED AS OF DATE:		20240621
DATE AS OF CHANGE:		20240621

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NOVO NORDISK A S
		CENTRAL INDEX KEY:			0000353278
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		11-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-82318
		FILM NUMBER:		241058714

	BUSINESS ADDRESS:	
		STREET 1:		NOVO ALLE DK 2880
		CITY:			BAGSVAERD DENMARK
		STATE:			G7
		ZIP:			00000
		BUSINESS PHONE:		4544448888

	MAIL ADDRESS:	
		STREET 1:		NOVO ALLE DK 2880
		CITY:			BAGSVAERD DENMARK
		STATE:			G7
		ZIP:			00000

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NOVO NORDISK A/S
		DATE OF NAME CHANGE:	19900807

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NOVO INDUSTRI A S /DENMARK/
		DATE OF NAME CHANGE:	19890811
</SEC-HEADER>
<DOCUMENT>
<TYPE>11-K
<SEQUENCE>1
<FILENAME>f11k_061824.htm
<DESCRIPTION>FORM 11-K
<TEXT>
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<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">UNITED STATES</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Washington, D.C. 20549</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><FONT STYLE="font-size: 12pt"><B>Form 11-K</B></FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">(Mark one)</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">[X]</TD><TD STYLE="text-align: justify">ANNUAL REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.5in; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0; text-indent: 1in">For the fiscal year ended December 31, 2023</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">OR</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</P>

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<TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">[&nbsp;&nbsp;&nbsp;]</TD><TD STYLE="text-align: justify">TRANSITION REPORT PURSUANT TO SECTION
15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]</TD></TR>
</TABLE>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 1in">For the transition period from
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; to
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><B>Commission file number: 333-83724</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Full title of the plan and
the address of the plan, if different from that of the issuer named below:</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Novo Nordisk Inc. 401(k) Savings Plan</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">800 Scudders Mill Road</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Plainsboro, New Jersey 08536</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name of issuer of securities
held pursuant to the plan and the address of its principal executive office:</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Novo Nordisk A/S</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Novo Alle</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">2880 Bagsvaerd</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt; font-size: 10pt; text-align: left"></P>

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<P STYLE="margin: 0pt; font-size: 10pt; text-align: left">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">NOVO NORDISK INC. 401(k) SAVINGS PLAN</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">December&nbsp;31, 2023 and 2022</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="background-color: White; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; font-size: 10pt">Page</TD></TR>
  <TR STYLE="background-color: White; vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><A HREF="#a_001">Report of Independent Registered Public Accounting Firm</A></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><A HREF="#a_001">1 - 2</A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 95%; font-size: 10pt; text-align: left"><A HREF="#a_002">Statements of Net Assets Available for Benefits</A></TD>
    <TD STYLE="width: 5%; font-size: 10pt; text-align: center"><A HREF="#a_002">3</A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><A HREF="#a_003">Statements of Changes in Net Assets Available for Benefits</A></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><A HREF="#a_003">4</A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><A HREF="#a_004">Notes to Financial Statements</A></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><A HREF="#a_004">5 - 13</A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Supplemental Information</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: 0.5in"><A HREF="#a_005">Schedule H, Line 4i - Schedule of Assets (Held at End of Year) as of December 31, 2023</A></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><A HREF="#a_005">14</A></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.5in"><A HREF="#a_006">Schedule H, Line 4a - Schedule of Delinquent Participant Contributions for the Year Ended December 31, 2023</A></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><A HREF="#a_006">15</A></TD></TR>
  </TABLE>


<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0"><A HREF="#a_007">Signatures</A></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">Exhibit:</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0; text-indent: 0.5in"><A HREF="exh_231.htm">Exhibit 23.1 &ndash; Consent of Independent Registered Public Accounting Firm</A></P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5%">Note:</TD><TD STYLE="text-align: justify; width: 95%">Other supplemental schedules required by Section 2520.103-10 of the Department of Labor's Rules and Regulations
for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 have been omitted because they are not applicable
to the Novo Nordisk Inc. 401(k) Savings Plan.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

<P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><A NAME="a_001"></A><B>REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">To the Plan Administrator, Participants and Beneficiaries</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">of the Novo Nordisk Inc. 401(k) Savings Plan</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B><I>Opinion on the Financial Statements</I></B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">We have audited the accompanying statements of net assets available for
benefits of the Novo Nordisk Inc. 401(k) Savings Plan (the &ldquo;Plan&rdquo;) as of December 31, 2023 and 2022, and the related statements
of changes in net assets available for benefits for each of the years then ended, and the related notes (collectively referred to as the
&ldquo;financial statements&rdquo;).</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">In our opinion, the financial statements present fairly, in all material
respects, the net assets available for benefits of the Plan as of December 31, 2023 and 2022, and the changes in net assets available
for benefits for each of the years then ended, in conformity with accounting principles generally accepted in the United States of America.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><B><I>Basis for Opinion</I></B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">These financial statements are the responsibility of the Plan's management.
Our responsibility is to express an opinion on the Plan&rsquo;s financial statements based on our audits. We are a public accounting firm
registered with the Public Company Accounting Oversight Board (United States) (&ldquo;PCAOB&rdquo;) and are required to be independent
with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities
and Exchange Commission and the PCAOB.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">We conducted our audits in accordance with the standards of the PCAOB.
Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free
of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of
its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over
financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan's internal control over financial
reporting. Accordingly, we express no such opinion.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Our audits included performing procedures to assess the risks of material
misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures
included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included
evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation
of the financial statements. We believe that our audits provide a reasonable basis for our opinion.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify"><B><I>Supplemental Information</I></B></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">The supplemental information in the accompanying schedules of assets (held
at end of year) as of December 31, 2023 and delinquent participant contributions for the year ended December 31, 2023, have been subjected
to audit procedures performed in conjunction with the audit of the Plan's financial statements. The supplemental information is the responsibility
of the Plan's management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements
or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the
information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the
supplemental information, including its form and content, is presented in conformity with the Department of Labor's Rules and Regulations
for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information is
fairly stated, in all material respects, in relation to the financial statements as a whole.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">/s/ EisnerAmper LLP</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">We have served as the Plan&rsquo;s auditor since 2007.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">EISNERAMPER LLP</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Iselin, New Jersey</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">June 20, 2024</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">NOVO NORDISK INC. 401(k) SAVINGS PLAN</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><A NAME="a_002"></A>Statements of Net Assets Available for Benefits</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">December 31, 2023 and 2022</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">2023</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">2022</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify">Assets</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; font-size: 10pt; text-align: justify">Investments, at fair value</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 20pt; width: 70%; font-size: 10pt; text-align: justify">Mutual funds</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 12%; font-size: 10pt; text-align: right">872,325,566</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 12%; font-size: 10pt; text-align: right">712,529,420</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 20pt; font-size: 10pt; text-align: justify">Common stock &ndash; Novo Nordisk A/S</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">540,264,197</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">371,160,061</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 20pt; font-size: 10pt; text-align: justify">Common collective trusts</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">772,466,398</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">579,456,510</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 20pt; font-size: 10pt; text-align: justify">Money market funds</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">92,571,018</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">83,597,789</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">2,277,627,179</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,746,743,780</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt; font-size: 10pt; text-align: justify">Dividend withholding tax receivable</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">6,322,619</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">4,853,051</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; font-size: 10pt; text-align: justify">Notes receivable from participants</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">17,987,163</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">16,376,847</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; font-size: 10pt; text-align: justify">Contributions receivable</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 20pt; font-size: 10pt; text-align: justify">Employer</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,339,209</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,211,986</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 20pt; font-size: 10pt; text-align: justify">Participant</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">20,011</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">17,030</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,359,220</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,229,016</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: justify; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify; padding-bottom: 1pt">Total assets</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">2,303,296,181</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,769,202,694</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify; padding-bottom: 2.5pt">Net assets available for benefits</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">2,303,296,181</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">1,769,202,694</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
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<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">See accompanying notes to financial statements</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">NOVO NORDISK INC. 401(k) SAVINGS PLAN</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><A NAME="a_003"></A>Statements of Changes in Net Assets Available for Benefits</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">For the Years Ended December 31, 2023 and 2022</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">2023</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">2022</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify">Additions to (Deductions from) Net Assets Available for Benefits</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; font-size: 10pt; text-align: justify">Investment income</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 20pt; width: 70%; font-size: 10pt; text-align: left">Net appreciation (depreciation) in fair value of investments</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 12%; font-size: 10pt; text-align: right">436,601,238</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 12%; font-size: 10pt; text-align: right">(255,086,496</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 20pt; font-size: 10pt; text-align: left">Dividends from Novo Nordisk A/S common stock</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">5,442,846</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">4,284,001</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 20pt; font-size: 10pt; text-align: justify">Other dividends</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">19,677,611</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">14,502,291</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 20pt; font-size: 10pt; text-align: left">Interest</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">4,239,924</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,243,244</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">465,961,619</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(235,056,960</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt; font-size: 10pt; text-align: justify; padding-bottom: 1pt">Interest income on notes receivable from participants</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">923,082</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">755,300</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt; font-size: 10pt; text-align: justify">Contributions</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 20pt; font-size: 10pt; text-align: justify">Participant</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">117,560,328</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">93,195,247</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 20pt; font-size: 10pt; text-align: justify">Participant rollovers</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">35,495,450</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">16,436,169</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 20pt; font-size: 10pt; text-align: left">Employer</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">31,888,624</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">23,815,169</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">184,944,402</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">133,446,585</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; font-size: 10pt; text-align: justify">Benefits paid to participants</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(116,919,774</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(124,253,087</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt; font-size: 10pt; text-align: justify; padding-bottom: 1pt">Administrative expenses</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(815,842</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(710,500</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: justify; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(117,735,616</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(124,963,587</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify">Net increase (decrease)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">534,093,487</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(225,818,662</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify; padding-bottom: 1pt">Net assets available for benefits, beginning of year</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,769,202,694</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,995,021,356</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify; padding-bottom: 2.5pt">Net assets available for benefits, end of year</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">2,303,296,181</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">1,769,202,694</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">See accompanying notes to financial statements</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">NOVO NORDISK INC. 401(k) SAVINGS PLAN</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><A NAME="a_004"></A>Notes to Financial Statements</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">December 31, 2023 and 2022</P>

<P STYLE="font-size: 10pt; text-align: center; text-indent: -0.7in; margin: 0pt 0 0pt 0.7in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 49.5pt">Note 1 -</TD>
  <TD><U>Description of Plan</U></TD></TR>
</TABLE>

<P STYLE="margin: 0pt; font-size: 10pt; text-align: justify"></P>

<P STYLE="margin: 0pt 37.5pt 0pt 49.5pt; font-size: 10pt; text-align: justify"></P>

<P STYLE="margin: 0pt 37.5pt 0pt 49.5pt; font-size: 10pt; text-align: justify">The following description of the Novo Nordisk Inc. 401(k)
Savings Plan (the &ldquo;Plan&rdquo;) provides only general information. Participants should refer to the Plan document, as amended, for
a more complete description of the Plan's provisions.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.7in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.7in"><U>General</U></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">The Plan is a participant-directed defined contribution
plan which was established on January 1, 1983 and was most recently amended and restated effective as of January 1, 2023, and subsequently
on January 1, 2024. Companies participating in the Plan include Dicerna Pharmaceuticals, Inc. (&ldquo;NNDRNA&rdquo;), Novo Nordisk Inc.
(&ldquo;NNI&rdquo;), Novo Nordisk Pharmaceutical Industries, LP (&ldquo;NNPILP&rdquo;), NNE Pharmaplan, Inc. (&ldquo;NNE&rdquo;), Novo
Nordisk US Bio Productions, Inc. (&ldquo;NNUSBPI&rdquo;), Novo Nordisk Research Center Indianapolis, Inc. (&ldquo;NNRCII&rdquo;), Novo
Nordisk Research Center Seattle, Inc. (&ldquo;NNRCSI&rdquo;), and Novo Nordisk Pharmatech US, Inc. (NNPR) (collectively the &ldquo;Company&rdquo;).
Furthermore, NNI, the Plan&rsquo;s sponsor, is a wholly-owned subsidiary of Novo Nordisk US Holdings, Inc., which in turn is a wholly-owned
subsidiary of Novo Nordisk A/S (&ldquo;NNAS&rdquo;) which is the ultimate parent company in Denmark.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.7in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">Eligible employees of the Company are covered by the Plan
upon date of hire, except for residents of Puerto Rico, interns, leased employees, temporary employees with less than one year of service
and 1,000 hours, employees on assignment from NNAS who are covered under the NNAS pension plan, foreign transferees from affiliates on
temporary assignments who remain covered by a foreign pension plan, employees covered under a collective bargaining agreement and nonresident
aliens without any U.S. source income (the &ldquo;Plan participants&rdquo;).</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">The Plan is subject to the provisions of the Employee Retirement
Income Security Act of 1974 (&ldquo;ERISA&rdquo;), as amended. The Plan offers stock of NNAS, whose shares of American Depository Receipts
(&ldquo;ADR&rsquo;s&rdquo;) are publicly traded on the New York Stock Exchange, as an investment option.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 49.5pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 49.5pt"><U>Administrator, Trustee and Custodian</U></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 35.45pt 0pt 49.5pt">NNI is the Plan&rsquo;s administrator and under the terms
of the Plan, NNI has delegated its administrative duties to the Retirement Committee appointed by the Board of Directors of NNI. The Retirement
Committee oversees the Plan&rsquo;s administration, oversight, and governance responsibilities. Charles Schwab Trust Company, a division
of Charles Schwab Bank, is the trustee and custodian of the Plan.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 49.5pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 49.5pt"><U>Participant Contributions</U></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">Participants may contribute up to 50% of their annual compensation
on a before-tax basis and 15% on an after-tax basis. In addition, participants may make rollover contributions from other qualified plans.
Participants (age 50 or older) may elect to make catch-up contributions to the Plan. The maximum catch-up contribution is $7,500 and $6,500
for 2023 and 2022, respectively. In no event may the participant&rsquo;s before-tax and after-tax contributions exceed the statutory limitations
imposed by the Internal Revenue Code (the &ldquo;Code&rdquo;). Unless an employee makes an alternative election to opt out, all employees
are automatically enrolled into the Plan and their compensation, as determined under the Plan, is automatically reduced by a designated
percentage on a pre-tax basis, which is deemed to be the participants&rsquo; salary reduction contribution election.</P>

<P STYLE="margin: 0pt 37.5pt 0pt 0.7in; font-size: 10pt; text-align: justify">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0pt 37.5pt 0pt 0.7in; font-size: 10pt; text-align: justify"></P>

<P STYLE="margin: 0pt 37.5pt 0pt 0.7in; font-size: 10pt; text-align: justify"></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">NOVO NORDISK INC. 401(k) SAVINGS PLAN<BR STYLE="clear: both"></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Notes to Financial Statements</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">December 31, 2023 and 2022</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 49.5pt">Note 1 -</TD>
  <TD><U>Description of Plan (continued)</U></TD></TR>
</TABLE>

<P STYLE="margin: 0pt 37.5pt 0pt 0.7in; font-size: 10pt; text-align: justify"><U>Participant Contributions (continued)</U></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">Eligible employees are automatically enrolled in the Plan
at an employee pre-tax deferral rate of 4% of compensation unless the employee elects a different rate within 60 days of date of hire.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">Participants&rsquo; salary deferral elections are automatically
increased by 1% each April 1st if such contributions are less than 10% of compensation. The purpose of this automatic increase is solely
to encourage employees to save for their retirement. Participants can also opt out of this automatic escalation election at any time.
Participants who opt out of the automatic escalation feature or contribute 0% to the Plan are re-enrolled annually at the 4% contribution
level, which continues to be subject to the automatic escalation feature on a go forward basis unless the Participant opts out each year.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">Participants may not direct more than twenty percent (20%)
of their future contributions into the Novo Nordisk Stock Fund. Additionally, Participants whose position in the Novo Nordisk Stock Fund
is 20% or more will not be permitted to transfer existing balances, including Rollover Contributions, into the Novo Nordisk Stock Fund
nor will Participants be able to retain a percentage greater than 20% when initiating account rebalances.</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0 0pt 49.5pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 49.5pt"><U>Company Contributions</U></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">The Company can make two different types of retirement contributions:
basic and matching. The Company makes basic retirement contributions which represent 8% of participants&rsquo; eligible annual compensation
for eligible employees of NNPILP, NNE, and NNUSBPI. The basic 8% Company contribution for NNDRNA, NNI, NNRCII, NNRCSI, and NNPR employees
are made to the Novo Nordisk Inc. Money Purchase Plan, a separate qualified retirement plan. The Company makes matching contributions
in cash for all eligible participants equal to 50% of the first 2% of the eligible participants pre-tax or Roth 401(k) contributions if
the eligible participants are contributing at least 2% of their eligible annual compensation.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.7in"><U>Participant Accounts</U></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">Participant accounts are credited with their contributions
including earnings, and allocations of Company contributions and related earnings. An allocation of administrative expenses incurred and
paid by the Plan is charged to participant accounts. Expense allocations are based on participant earnings or account balances, as defined.
Participant withdrawals and distributions are limited to the participant's total vested account balance. Participants can elect to have
their accounts invested in any of the Plan's investment options.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.4in; margin: 0pt 0 0pt 0.3in"><U>Vesting Benefits and Forfeitures</U></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">Participants are 100% vested in their own contributions
plus earnings thereon.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 37.5pt 0pt 0.7in; font-size: 10pt; text-align: justify"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">NOVO NORDISK INC. 401(k) SAVINGS PLAN<BR STYLE="clear: both"></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Notes to Financial Statements</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">December 31, 2023 and 2022</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 49.5pt">Note 1 -</TD>
  <TD><U>Description of Plan (continued)</U></TD></TR>
</TABLE>



<P STYLE="margin: 0pt 37.5pt 0pt 0.7in; font-size: 10pt; text-align: justify"><U>Vesting Benefits and Forfeitures (continued)</U></P>

<P STYLE="margin: 0pt 37.5pt 0pt 0.7in; font-size: 10pt; text-align: justify">Vesting in the Company&rsquo;s basic and matching contribution
portion of their accounts, plus actual earnings thereon, is as follows:</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.7in; margin: 0pt 0 0pt 0.7in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%">&nbsp;</TD>
    <TD STYLE="padding-left: 2.5pt; width: 25%"><FONT STYLE="font-size: 10pt"><U>Years of Service</U></FONT></TD>
    <TD STYLE="text-align: right; padding-left: 64.45pt; width: 25%"><FONT STYLE="font-size: 10pt"><U>Vesting %</U></FONT></TD>
    <TD STYLE="width: 25%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 18.1pt"><FONT STYLE="font-size: 10pt">Less than 1</FONT></TD>
    <TD STYLE="padding-right: 18.1pt; text-align: right"><FONT STYLE="font-size: 10pt">0</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 18.1pt"><FONT STYLE="font-size: 10pt">1</FONT></TD>
    <TD STYLE="padding-right: 18.1pt; text-align: right"><FONT STYLE="font-size: 10pt">33</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 18.1pt"><FONT STYLE="font-size: 10pt">2</FONT></TD>
    <TD STYLE="padding-right: 18.1pt; text-align: right"><FONT STYLE="font-size: 10pt">66</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 18.1pt"><FONT STYLE="font-size: 10pt">3 or more</FONT></TD>
    <TD STYLE="padding-right: 18.1pt; text-align: right"><FONT STYLE="font-size: 10pt">100</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.7in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">Forfeited non-vested Company basic and matching contributions
may be used to reduce future Company contributions, to pay Plan expenses or to reinstate account balances for rehired employees in accordance
with the terms of the Plan. During the years ended December 31, 2023 and 2022, forfeitures of approximately $747,000 and $761,000, respectively,
were used to offset contributions. There were no forfeitures used to offset Plan expenses or reinstate account balances for the years
ended December 31, 2023 and 2022.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.7in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">Forfeited non-vested Company basic and matching contributions
available at December 31, 2023 and 2022 were approximately $758,000 and $52,000, respectively. In addition, the employer contribution
receivable in 2023 and 2022 was reduced by approximately $209,000 and $123,000, respectively, due to forfeited non-vested accounts.</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: 0.4in; margin: 0pt 0 0pt 0.3in"><U>Notes Receivable from Participants</U></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">Notes receivable from participants are measured at their
unpaid principal balance plus any accrued but unpaid interest. Under the terms of the Plan, participants may borrow a minimum of $1,000
up to a maximum equal to the lesser of 50% of their vested account balance or $50,000 as determined in accordance with the Plan. Loan
terms range from one to five years; however, terms may be up to fifteen years for the purchase of a primary residence. The loans are secured
by the participants&rsquo; account balance. As of December 31, 2022, the outstanding loans&rsquo; interest rates range from 4.25% to 8.5%&nbsp;.
As of December 31, 2023, the outstanding loans&rsquo; interest rates range from 4.25% to 9.5%. Rates are commensurate with market rates
for similar loans at issue date. Principal and interest are paid ratably through payroll deductions. Delinquent notes receivable from
participants are reclassified as distributions based upon the terms of the Plan agreement.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.7in"><U>Payment of Benefits</U></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.45pt 0pt 49.5pt">Participants shall be entitled to receive the vested interest
in their accounts on retirement (normal or late, as determined under the Plan), death or separation from service. Distribution shall be
made in a single lump sum payment in cash or discretionary partial distributions. Payment is made in cash with the exception of a single
lump sum distribution from the Novo Nordisk Stock Fund which can be elected in stock. In addition, participants may receive pre-retirement
distributions of the vested interest in their accounts at age 59&frac12;. Withdrawals are also permitted for financial hardship, which
is determined pursuant to the provisions of the Code.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.45pt 0pt 49.5pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.7in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.7in">&nbsp;</P>

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    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0 0pt 0.7in; font-size: 10pt; text-align: justify"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">NOVO NORDISK INC. 401(k) SAVINGS PLAN<BR STYLE="clear: both"></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Notes to Financial Statements</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">December 31, 2023 and 2022</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.7in; margin: 0pt 0 0pt 0.7in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 49.5pt">Note 1 -</TD>
  <TD><U>Description of Plan (continued)</U></TD></TR>
</TABLE>



<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.7in"><U>Administrative Expenses</U></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">The Plan&rsquo;s administrative expenses, such as bookkeeping,
legal, and audit fees, as well as other reasonable expenses as permitted by the Plan document, collectively known as Plan expenses, are
paid by the Plan and/or the Company.&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.7in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">The Company's service agreement with Schwab Retirement Plan
Services, Inc. (&ldquo;Schwab&rdquo;), the Plan&rsquo;s recordkeeper, reflects a minimum basis point requirement whereby should the recordkeeper
fees charged by Schwab on an annual basis exceed a minimum required basis point amount, as defined in the service agreement, Schwab will
credit the excess amount to the Plan in the form of a Reduction in Compensation Account (&ldquo;ERISA account&rdquo;). On a quarterly
basis, any operating expense credits received from investment options will be allocated directly to the participants who held that investment
option, based on each participant&rsquo;s average daily balance that quarter.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">The ERISA account balances as of December 31, 2023 and 2022
was approximately $0.&nbsp;Amounts credited as an excess amount to the ERISA account were approximately $618,000 and $957,000 for the
years ended December 31, 2023 and 2022, respectively, and are recorded as a component of net appreciation (depreciation) in fair value
of investments in the Statements of Changes in Net Assets Available for Benefits. During the years ended December 31, 2023 and 2022, approximately
$618,000 and $957,000 respectively, was credited to eligible participant accounts from the ERISA account, as approved by the Retirement
Committee.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 49.5pt">Note 2  -</TD>
  <TD><U>Summary of Significant Accounting Policies</U></TD></TR>
</TABLE>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.7in; margin: 0pt 0 0pt 0.7in"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.7in"><U>Basis of Accounting</U></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">The Plan's financial statements are prepared on the accrual
basis of accounting in accordance with accounting principles generally accepted in the United States of America (&ldquo;U.S. GAAP&rdquo;).</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.7in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.7in"><U>Use of Estimates</U></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">The preparation of financial statements in conformity with
U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and changes
therein, and when applicable, disclosure of contingent assets and liabilities at the date of the financial statements. Actual results
could differ from those estimates.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.7in"><U>Investment Valuation and Income Recognition</U></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">The Plan's investments are reported at fair value, the price
that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement
date. See Note 3 for discussion of fair value measurements. Purchases and sales of securities are recorded on a trade-date basis. Interest
income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Net appreciation (depreciation) in value of investments
includes the Plan's gains and losses on investments bought, sold, and held during the year.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.7in"><U>Payment of Benefits</U></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.7in">Benefits are recorded when paid.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">NOVO NORDISK INC. 401(k) SAVINGS PLAN<BR STYLE="clear: both"></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Notes to Financial Statements</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">December 31, 2023 and 2022</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 49.5pt">Note 3  -</TD>
  <TD><U>Fair Value Measurements</U></TD></TR>
</TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><U></U></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">Financial Accounting Standards Board&rsquo;s (&ldquo;FASB&rdquo;)
Accounting Standards Codification Topic 820 &ldquo;Fair Value Measurements and Disclosures&rdquo; (ASC 820), established a framework for
measuring fair value. The framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure
fair value in order to maximize the use of observable inputs and minimize the use of unobservable inputs. The hierarchy gives the highest
priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements), and the lowest priority
to unobservable inputs (Level 3 measurements). The three levels of measurements are described as follows:</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 99pt">Level 1 &ndash; Inputs to the valuation methodology are unadjusted
quoted prices in active markets for identical assets or liabilities that the Plan can access at the measurement date.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 9pt 0pt 99pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 99pt">Level 2 &ndash; Inputs to the valuation methodology include
(1) quoted prices in active markets for similar assets or liabilities; (2) quoted prices in inactive markets for identical or similar
assets or liabilities; (3) inputs other than quoted prices that are observable for the assets or liabilities; or (4) inputs that are derived
principally from or corroborated by observable market data by correlation or other means. If the asset or liability has a specified (contractual)
term, the Level 2 input must be observable for substantially the full term of the asset or liability.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 99pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 37.5pt 0pt 99pt">Level 3 &ndash; Inputs to the valuation methodology are unobservable and significant
to the fair value measurement.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 9pt 0pt 156.6pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.45pt 0pt 0.7in">The asset&rsquo;s or liability&rsquo;s fair value measurement
level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation
techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs. The following describe the
valuation methods used for investment assets measured at fair value.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.45pt 0pt 99.35pt"><I>Common stock &ndash;</I> Valued at the closing price
reported on the active market on which the individual securities are traded.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.45pt 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.45pt 0pt 99.35pt"><I>Mutual funds &ndash;</I> Valued at the daily closing
price as reported by the fund. Mutual funds held by the Plan are open-ended mutual funds that are registered with the Securities and Exchange
Commission. These funds are required to publish their daily net asset value (&ldquo;NAV&rdquo;) and to transact at that price. The mutual
funds held by the Plan are deemed to be actively traded.</P>

<P STYLE="font-size: 10pt; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-size: 10pt">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">NOVO NORDISK INC. 401(k) SAVINGS PLAN<BR STYLE="clear: both"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">Notes to Financial Statements</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">December 31, 2023 and 2022</P>

<P STYLE="margin: 0pt 37.45pt 0pt 99.35pt; font-size: 10pt; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 49.5pt">Note 3  -</TD>
  <TD><U>Fair Value Measurements (continued)</U></TD></TR>
</TABLE>

<P STYLE="margin: 0pt 37.45pt 0pt 99.35pt; font-size: 10pt; text-align: justify; text-indent: -99.35pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.45pt 0pt 99.35pt"><I>Money market funds &ndash;</I> Valued at NAV, which
approximates fair value.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 9pt 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 99pt"><I>Common/collective trust funds &ndash; </I>Valued at the
NAV of units of a bank collective trust. The NAV, as provided by the trustee, is used as a practical expedient to estimate fair value.
The NAV is based on the fair value of the underlying investments held by the fund less its liabilities. This practical expedient is not
used when it is determined to be probable that the Plan will sell the investment for an amount different than the reported NAV. Participant
transactions (purchases and sales) may occur daily.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 99pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 49.5pt">The preceding methods described may produce a fair value
calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, the Plan believes its
valuation methods are appropriate and consistent with other market participants; however, the use of different valuation methods and assumptions
could result in a different fair value measurement for certain financial instruments at the reporting date. There have been no changes
in the methodologies used at December 31, 2023 and 2022.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.7in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.7in">The following table presents the Plan&rsquo;s investment assets
measured at fair value as of:</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 17.5pt 0pt 107.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: justify"><U>December 31, 2023</U></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: center"><U>Level 1</U></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: center"><U>Total</U></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; font-size: 10pt; text-align: justify">Mutual funds</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 12%; font-size: 10pt; text-align: right">872,325,566</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; font-size: 10pt; text-align: right">872,325,566</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: justify">Common stock</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">540,264,197</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">540,264,197</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify; padding-bottom: 1pt">Money market funds</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">92,571,018</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">92,571,018</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt; font-size: 10pt; text-align: left">Total investment assets in the fair value hierarchy</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,505,160,781</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,505,160,781</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Investments measured at net asset value<SUP>1</SUP></FONT></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">772,466,398</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: justify; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt; font-size: 10pt; text-align: justify; padding-bottom: 2.5pt">Total investment assets at fair value</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">1,505,160,781</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">2,277,627,179</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.7in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 17.5pt 0pt 107.1pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: justify"><U>December 31, 2022</U></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: center"><U>Level 1</U></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: center"><U>Total</U></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; font-size: 10pt; text-align: justify">Mutual funds</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 12%; font-size: 10pt; text-align: right">712,529,420</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; font-size: 10pt; text-align: right">712,529,420</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: justify">Common stock</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">371,160,061</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">371,160,061</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify; padding-bottom: 1pt">Money market funds</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">83,597,789</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">83,597,789</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt; font-size: 10pt; text-align: justify">Total investment assets in the fair value hierarchy</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,167,287,270</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,167,287,270</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Investments measured at net asset value<SUP>1</SUP></FONT></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">579,456,510</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: justify; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt; font-size: 10pt; text-align: justify; padding-bottom: 2.5pt">Total investment assets at fair value</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">1,167,287,270</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">1,746,743,780</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 19pt 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-size: 8pt">1.</FONT></TD><TD STYLE="text-align: justify; padding-right: 37.45pt"><FONT STYLE="font-size: 8pt">In
                                            accordance with FASB ASC 820-10, certain investments that are measured at fair value using
                                            the NAV value per share (or its equivalent) practical expedient have not been classified
                                            in the fair value hierarchy. The fair value amounts presented in the table are intended to
                                            permit reconciliation of the fair value hierarchy to the amounts presented in the statements
                                            of net assets available for benefits.</FONT></TD></TR></TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.7in">The Plan did not have any investments in Level 2 or 3 as of December
31, 2023 and 2022.</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">NOVO NORDISK INC. 401(k) SAVINGS PLAN<BR STYLE="clear: both"></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Notes to Financial Statements</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">December 31, 2023 and 2022</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 49.5pt">Note 3  -</TD>
  <TD><U>Fair Value Measurements(continued)</U></TD></TR>
</TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.7in"><U>Changes in Fair Value Levels</U></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">The availability of observable market data is monitored
to assess the appropriate classification of financial instruments within the fair value hierarchy. Changes in economic conditions or model-based
valuation techniques may require the transfer of financial instruments from one fair value level to another.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.7in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.7in"><U>Net Asset Value per Share</U></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">The following table summarizes investments for which fair
value is measured using the net asset value per share practical expedient as of December 31, 2023 and 2022, respectively.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 19pt 0pt 99pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%; margin: 0pt 0pt 0pt 0.7in">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 27%">&nbsp;</TD>
    <TD STYLE="width: 15%">
    <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"></P>
    <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><U>Fair Value</U></P></TD>
    <TD STYLE="width: 15%">
    <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"></P>
    <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Unfunded <U>Commitments</U></P></TD>
    <TD STYLE="width: 14%">
    <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"></P>
    <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Redemption <U>Frequency</U></P></TD>
    <TD STYLE="width: 15%; text-align: center"><FONT STYLE="font-size: 10pt">Other Redemption <U>Restrictions</U></FONT></TD>
    <TD STYLE="width: 14%; text-align: center"><FONT STYLE="font-size: 10pt">Redemption <U>Notice Period</U></FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt"><U>As of December 31, 2023</U>:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD>
    <P STYLE="font-size: 10pt; text-indent: 9pt; margin: 0pt 0">Common/Collective Trust Funds<SUP>1</SUP></P></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$772,466,398</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">None</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Immediate</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">None</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">5 days &ndash; 12 months</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD><FONT STYLE="font-size: 10pt"><U>As of December 31, 2022</U>:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD>
    <P STYLE="font-size: 10pt; text-indent: 9pt; margin: 0pt 0">Common/Collective Trust Funds<SUP>1</SUP></P></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">$579,456,510</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">None</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Immediate</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">None</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">5 days &ndash; 12 months</FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 19pt 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.7in"><U>Redemption Restrictions</U></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">Certain mutual funds impose a trading policy including the
right to put a trade block on the account to restrict purchasing back into the funds for 28 days or 30 days. The restrictions are used
to discourage short term or excessive trading including market timing activity; however, these trading policies do not affect shareholders&rsquo;
rights to redeem shares of the mutual funds.</P>

<P STYLE="margin: 0pt 37.5pt 0pt 0.7in; font-size: 10pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 49.5pt">Note 4  -</TD>
  <TD><U>Income Tax Status</U></TD></TR>
</TABLE>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">The Plan, as amended and restated effective as of January
1, 2012, received a favorable tax determination letter from the Internal Revenue Service dated March 15, 2013, which provides that the
Plan and the related trust qualify under the provisions of Section 401(a) of the Internal Revenue Code and therefore, are exempt from
federal income taxes under the provisions of Section 501(a) of the Code. The Plan has been amended and restated since receiving the tax
determination letter. The Plan administrator believes that the Plan continues to be designed and operated in compliance with the applicable
requirements of the Code and, therefore, is exempt from federal income taxes under the provisions of the Code.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 49.5pt">U.S. GAAP requires Plan management to evaluate tax positions
taken by the Plan and recognize a tax liability if the Plan has taken an uncertain position that more likely than not would not be sustained
upon examination by a government authority. The Plan administrator believes the Plan has not taken nor is expected to take any uncertain
positions that would require recognition of a liability or disclosure in the Plan&rsquo;s financial statements as of December 31, 2023
and 2022. The Plan is subject to routine examinations by taxing authorities. There are currently no plan years under examination by taxing
authorities.</P>

<P STYLE="margin: 0pt 37.5pt 0pt 49.5pt; font-size: 10pt; text-align: justify"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">NOVO NORDISK INC. 401(k) SAVINGS PLAN<BR STYLE="clear: both"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">Notes to Financial Statements</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">December 31, 2023 and 2022</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 9pt 0pt 99pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 49.5pt">Note 4  -</TD>
  <TD><U>Income Tax Status (continued)</U></TD></TR>
</TABLE>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.7in; margin: 0pt 0 0pt 0.7in"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 49.5pt">Commencing with the Plan&rsquo;s 2016 year, the Danish
Tax Authority (&ldquo;SKAT&rdquo;) changed its process for organizations exempt from withholding taxes to apply for a refund. Entities
are now required to pay withholding taxes at the time dividends are received and subsequently apply for a refund and under the new procedure
additional information needs to be provided to SKAT with the refund application. The Plan sponsor determined that all withholding tax
receivables are collectible.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 49.5pt">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 49.5pt">During the years ended December 31, 2023 and 2022, Novo
Nordisk A/S paid $1,469,568 and $1,090,564 of withholding taxes to SKAT for dividends declared relating to Novo Nordisk A/S shares held
by the Plan. The Plan has recorded a dividend withholding tax receivable of $6,322,619 and $4,853,051 as of December 31, 2023 and 2022,
respectively. In March 2022, the Plan received the 2018 dividend withholding tax refund of $1,270,315. The 2019 to 2022 refunds were outstanding
as of December 31, 2022. The 2019 to 2023 refunds were outstanding as of December 31, 2023. In January 2024, the Plan received the 2020
dividend withholding tax refund of $1,155,443.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 49.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 49.5pt">Note 5  -</TD>
  <TD><U>Related Party and Party-in-Interest Transactions</U></TD></TR>
</TABLE>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.7in; margin: 0pt 0 0pt 0.7in"><U></U></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">Certain Plan investments are managed by Charles Schwab Trust
Company (&ldquo;Charles Schwab&rdquo;), a division of Charles Schwab Bank, who is the trustee and custodian as defined by the Plan, and
therefore, these transactions qualify as party-in-interest transactions. Fees paid by the Plan to Charles Schwab for Plan expenses amounted
to $506,030 and $478,215 for the years ended December 31, 2023 and 2022, respectively. Additional advisory and managed service fees paid
by the Plan amounted to $309,812 and $232,285 for the years ended December 31, 2023 and 2022, respectively. Schwab Retirement Plan Services
is the recordkeeper of the Plan. Furthermore, Schwab Retirement Plan Services and Charles Schwab Bank are affiliated companies under Charles
Schwab &amp; Co.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.7in; margin: 0pt 0 0pt 0.7in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 49.5pt">Note 6  -</TD>
  <TD><U>Risks and Uncertainties</U></TD></TR>
</TABLE>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.7in; margin: 0pt 0 0pt 0.7in"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">Novo Nordisk Inc. is the Plan sponsor and the Plan administrator.
Novo Nordisk A/S is also a party-in-interest to the Plan under the definition provided in Section 3(14) of ERISA. Therefore, Novo Nordisk
A/S common stock transactions qualify as party-in-interest transactions. As of December 31, 2023, and 2022, the fair value of investments
in Novo Nordisk A/S common stock was $540,264,197 and $371,160,061 respectively.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">The Plan provides for various investment options in a combination
of diversified funds including Company stock. Investments are exposed to various risks, such as interest rate, market, and credit risks.
Due to the level of risk associated with certain investments and the level of uncertainty related to changes in the value of investments,
it is at least reasonably possible that changes in risks in the near term would materially affect the participants&rsquo; account balances
and the amounts reported in the statement of net assets available for benefits and the statement of changes in net assets available for
benefits. Volatility in the financial markets may significantly impact the subsequent valuation of the Plan&rsquo;s investments.&nbsp;Accordingly,
the valuation of investments reported at December 31, 2023 and 2022 may not necessarily be indicative of amounts that could be realized
in a current market exchange.</P>

<P STYLE="margin: 0pt 37.5pt 0pt 0.7in; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 37.5pt 0pt 0.7in; font-size: 10pt; text-align: justify">&nbsp;</P>

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    <!-- Field: /Page -->

<P STYLE="margin: 0pt 37.5pt 0pt 0.7in; font-size: 10pt; text-align: justify"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">NOVO NORDISK INC. 401(k) SAVINGS PLAN<BR STYLE="clear: both"></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Notes to Financial Statements</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">December 31, 2023 and 2022</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 49.5pt">Note 7  -</TD>
  <TD><U>Mutual Fund Fees</U></TD></TR>
</TABLE>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 9pt 0pt 0"><U></U></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">Investments in mutual funds are subject to sales charges
in the form of front-end loads, back-end loads or 12b-1 fees. 12b-1 fees are allowable under Section 12b-1 of the Investment Company Act
of 1940. Those fees may be deducted annually to pay marketing and distribution costs of mutual funds. These fees are deducted prior to
the allocation of the Plan&rsquo;s investment earnings activity and thus not separately identifiable as an expense.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 9pt 0pt 94.3pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 49.5pt">Note 8  -</TD>
  <TD><U>Plan Termination</U></TD></TR>
</TABLE>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.7in; margin: 0pt 0 0pt 0.7in"></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">Although no intention to do so has been expressed, the Company
has the right under the Plan to discontinue contributions at any time and to terminate the Plan subject to the provisions of ERISA. Upon
full or partial termination of the Plan, unvested funds in the affected participants&rsquo; accounts shall become 100% vested and shall
not thereafter be subject to forfeiture.</P>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.7in; margin: 0pt 0 0pt 0.7in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 49.5pt">Note 9  -</TD>
  <TD><U>Delinquent Participant Contributions</U></TD></TR>
</TABLE>

<P STYLE="font-size: 10pt; text-align: justify; text-indent: -0.7in; margin: 0pt 0 0pt 0.7in"><U></U></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">For the year ended December 31, 2023, late participant contributions
of $17,280 were remitted to the Plan in December 2023 and lost earnings of $2,222 were remitted to the Plan in February 2024. Additionally,
Form 5330 was filed for both 2023 and 2024.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 37.5pt 0pt 0.7in">&nbsp;</P>

<P STYLE="margin: 0pt 37.5pt 0pt 0.7in; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 37.5pt 0pt 0.7in; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 37.5pt 0pt 0.7in; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 37.5pt 0pt 0.7in; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 37.5pt 0pt 0.7in; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 37.5pt 0pt 0.7in; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 37.5pt 0pt 0.7in; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 37.5pt 0pt 0.7in; font-size: 10pt; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 37.5pt 0pt 0.7in; font-size: 10pt; text-align: justify"></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">NOVO NORDISK INC. 401(k) SAVINGS PLAN</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">Plan #001</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">Employer ID #06-1061602</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><A NAME="a_005"></A>Schedule H, Line 4i</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">Schedule of Assets (Held at End of Year)</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">December 31, 2023</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: center; padding-left: 0pt; width: 5%"><FONT STYLE="font-size: 10pt">(a)</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 35%">
    <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">(b)</P>
    <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><U>Identity of Issue, Borrower, Lessor or Similar Party</U></P></TD>
    <TD STYLE="vertical-align: top; width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 34%">
    <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">(c)</P>
    <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><U>Description of Investment</U></P></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%">
    <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">(d)</P>
    <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><U>Cost</U></P></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 1%; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 10%">
    <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">(e)</P>
    <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><U>Current Value</U></P></TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Allspring Special Intl SM CP I</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Mutual Fund</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">25,201,560</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Columbia Dividend Income Inst</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Mutual Fund</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">98,184,622</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Delaware Small Cap Value I</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Mutual Fund</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">40,494,244</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Europacific Growth Fund R5E</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Mutual Fund</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">56,738,542</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Franklin US Govt Sec Adv</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Mutual Fund</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">23,159,382 </FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Vanguard Midcap Index Inst</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Mutual Fund</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">106,477,298</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Vanguard Sm Cap Index Inst</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Mutual Fund</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">63,057,308</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Vanguard Total Bd Mkt Idx Inst</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Mutual Fund</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">91,408,040</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Vanguard Total Intl Stk Inst</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Mutual Fund</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">76,820,839</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Schwab S&amp;P 500 Index Fund</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Mutual Fund</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">290,783,731</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Schwab Ret Gvmnt Money Fund</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Money Market Fund</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">92,355,943</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Schwab US Treasury Money Fund</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Money Market Fund</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">215,075</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Allspring Core Bond II CIT E</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Common collective trust fund</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">41,889,117</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Schwab Managed Ret 2010 CL VI</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Common collective trust fund</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">2,932,734</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Schwab Managed Ret 2015 CL VI</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Common collective trust fund</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">2,651,836</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Schwab Managed Ret 2020 CL VI</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Common collective trust fund</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">13,529,129</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Schwab Managed Ret 2025 CL VI</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Common collective trust fund</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">25,941,633</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Schwab Managed Ret 2030 CL VI</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Common collective trust fund</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">88,289,854</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Schwab Managed Ret 2035 CL VI</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Common collective trust fund</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">74,245,746</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Schwab Managed Ret 2040 CL VI</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Common collective trust fund</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">147,566,048</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Schwab Managed Ret 2045 CL VI</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Common collective trust fund</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">57,288,450</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Schwab Managed Ret 2050 CL VI</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Common collective trust fund</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">92,751,438</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Schwab Managed Ret 2055 CL VI</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Common collective trust fund</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">18,645,644</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Schwab Managed Ret 2060 CL VI</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Common collective trust fund</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">10,113,096</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Schwab Managed Ret 2065 CL VI</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Common collective trust fund</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">5,023,724</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Schwab Managed Ret Income VI</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Common collective trust fund</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">1,537,577</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center; padding-left: 0pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Stephens Small Cap Growth CIT </FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Common collective trust fund</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">16,581,732</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; padding-left: 0pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">TRP Blue Chip Growth Trust T4</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Common collective trust fund</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">173,478,640</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Novo Nordisk A/S</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Common Stock</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">**</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">540,264,197 </FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; padding-left: 0pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt"><FONT STYLE="font-size: 10pt">Total Investments</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 8.35pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">2,277,627,179 </FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center; padding-left: 0pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 8.35pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; padding-left: 0pt"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Notes receivable from participants </FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Loan (4.25% - 9.50% and maturities through 2038)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 8.35pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">17,987,163</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 8.35pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 8.35pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 8.35pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: right"><FONT STYLE="font-size: 10pt">2,295,614,342 </FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in; text-align: right"></TD><TD STYLE="width: 0.5in">*</TD><TD STYLE="text-align: justify">Party-in-interest, as defined by ERISA</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in; text-align: right"></TD><TD STYLE="width: 0.5in">**</TD><TD STYLE="text-align: justify">Cost information not required for participant-directed investments</TD>
</TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.95in 0pt 152.8pt; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.95in 0pt 152.8pt; text-align: center"></P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center">NOVO NORDISK INC. 401(k) SAVINGS PLAN</P>

<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Plan
#001</FONT></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Employer ID #06-1061602</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><A NAME="a_006"></A>Schedule H, Line 4a</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Schedule of Delinquent Participant Contributions</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">For the Year Ended December 31, 2023</P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR>
    <TD STYLE="vertical-align: top; border: Black 1pt solid">
    <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Participant Contributions</P>
    <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Transferred Late to Plan</P></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><U>Total that Constitute Nonexempt Prohibited Transactions</U></FONT></TD>
    <TD ROWSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Total Fully Corrected Under</P>
    <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">VFCP and PTE 2002-51</P></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid">
    <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Check here if Late Participant Loan Repayments are included:</P>
    <P STYLE="font: 10pt Wingdings; text-align: center; margin: 0pt 0">p</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Contributions</P>
    <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Not Corrected</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Contributions</P>
    <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Corrected</P>
    <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Outside VFCP</P></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">
    <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Contributions</P>
    <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">Pending Correction</P>
    <P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0">in VFCP</P></TD></TR>
  <TR>
    <TD STYLE="width: 27%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 15%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">$17,280 (a)</FONT></TD>
    <TD STYLE="vertical-align: top; width: 18%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">$0</FONT></TD>
    <TD STYLE="vertical-align: top; width: 20%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">$0</FONT></TD>
    <TD STYLE="vertical-align: top; width: 20%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">$0</FONT></TD></TR>
  </TABLE>
<P STYLE="font-size: 10pt; text-indent: -0.7in; margin: 0pt 0 0pt 22pt">&nbsp;</P>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 55pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 59.5pt"></TD><TD STYLE="width: 18pt">(a)</TD><TD>Amount related to late participant contributions for the year ended December 31, 2023. The late participant contributions of $17,280 were remitted to the Plan in December 2023 and the associated lost earnings of $2,222 were
remitted to the Plan in February 2024.</TD></TR></TABLE>

<P STYLE="font-size: 10pt; margin: 0pt 0 0pt 77.5pt"></P>

<P STYLE="font-size: 10pt; margin: 0pt 24pt 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font-size: 10pt; margin: 0pt 24pt 0pt 0"><B>&nbsp;</B></P>

<P STYLE="margin: 0pt; font-size: 10pt; text-align: left">&nbsp;</P>

<P STYLE="margin: 0pt; font-size: 10pt; text-align: left">&nbsp;</P>

<P STYLE="margin: 0pt; font-size: 10pt; text-align: left">&nbsp;</P>

<P STYLE="margin: 0pt; font-size: 10pt; text-align: left">&nbsp;</P>

<P STYLE="margin: 0pt; font-size: 10pt; text-align: left">&nbsp;</P>

<P STYLE="margin: 0pt; font-size: 10pt; text-align: left">&nbsp;</P>

<P STYLE="margin: 0pt; font-size: 10pt; text-align: left">&nbsp;</P>

<P STYLE="margin: 0pt; font-size: 10pt; text-align: left">&nbsp;</P>

<P STYLE="margin: 0pt; font-size: 10pt; text-align: left">&nbsp;</P>

<P STYLE="margin: 0pt; font-size: 10pt; text-align: left">&nbsp;</P>

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<P STYLE="margin: 0pt; font-size: 10pt; text-align: left"></P>

<P STYLE="margin: 0pt; font-size: 10pt; text-align: left">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"></P>

<P STYLE="font-size: 10pt; text-align: center; margin: 0pt 0"><A NAME="a_007"></A>SIGNATURES</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act of 1934, the
Retirement Committee has duly caused this annual report to be signed by the undersigned thereunto duly authorized.</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 40%; font-size: 10pt">Novo Nordisk Inc.</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">Novo Nordisk Inc. 401(k) Savings Plan</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">By: <U>/s/ Ulrich Christian Otte</U></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">Ulrich Christian Otte</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">Senior Vice President of Finance &amp; Operations</TD></TR>
  </TABLE>


<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">Dated: June 20, 2024</P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0">&nbsp;</P>

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<P STYLE="margin: 0pt; font-size: 10pt; text-align: left">&nbsp;</P>

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<P STYLE="margin: 0pt; font-size: 10pt; text-align: left">&nbsp;</P>

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<TYPE>EX-23.1
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<DESCRIPTION>EXHIBIT 23.1
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<P STYLE="margin: 0pt 0; font-size: 10pt; text-align: right; color: fuchsia"><FONT STYLE="color: Black"><B>Exhibit 23.1</B></FONT></P>

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<P STYLE="margin: 0pt 0; font-size: 10pt"><FONT STYLE="color: Black"><B>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</B></FONT></P>

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<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><FONT STYLE="font-size: 10pt; color: Black">We consent to the incorporation
by reference in the Registration Statement of Novo Nordisk A/S </FONT><FONT STYLE="color: Black">on Form S-8 (Nos. 333-83724 and 333-221244)
<FONT STYLE="font-size: 10pt">of our report dated June 20, 2024 on our </FONT>audits <FONT STYLE="font-size: 10pt">of the financial statements
of Novo Nordisk Inc. 401(k) Savings Plan as of December 31, 2023 and 2022 and for each of the years then ended, and supplemental schedule</FONT>s
as of December 31, 2023 <FONT STYLE="font-size: 10pt">and for the year then ended, which report is included in this Annual Report on
Form 11-K to be filed on or about </FONT>June <FONT STYLE="font-size: 10pt">20, 2024.</FONT></FONT></P>

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<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><FONT STYLE="color: Black"><I>/s/ EisnerAmper LLP</I></FONT></P>

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<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><FONT STYLE="color: Black">EISNERAMPER LLP</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><FONT STYLE="color: Black">Iselin, New Jersey</FONT></P>

<P STYLE="font-size: 10pt; text-align: justify; margin: 0pt 0"><FONT STYLE="color: Black">June 20, 2024</FONT></P>

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