Novo Nordisk Annual Report 2021

Contents Introducing Novo Nordisk Strategic Aspirations Key risks Management Consolidated statements Additional information Novo Nordisk Annual Report 2021 95 Independent Auditor's Assurance Report on the ESG statement To Management and broader stakeholders of Novo Nordisk A/S Novo Nordisk A/S engaged us to provide limited assurance on the ESG statement presented in the Annual Report of Novo Nordisk for the year ended 31 December 2021. Our scope of work was limited to assurance that: - The performance data regarding Environment, Social and Governance, on pages from 85 to 91 in the report, have been stated in accordance with the reporting criteria; - Novo Nordisk's description in the report adheres to the principles of inclusivity, materiality, responsiveness, and impact set out in AccountAbility's AA1000AP (2018); -The report has been prepared in accordance with the requirements of sections 99a, 99b, 99d, and 107d of the Danish Financial Statements Act (FSA). Management's responsibility Management of Novo Nordisk is responsible for collecting, analysing, aggregating, and presenting the information in the ESG statement, ensuring that data are free from material misstatement, whether due to fraud or error. The Novo Nordisk accounting policies and internal control documents contain Management's defined reporting scope for each data type. The criteria for accounting principles are contained within the ESG statement. Auditor's responsibility Our responsibility is to express a limited assurance conclusion based on our engagement with Management and in accordance with the agreed scope of work. We have conducted our work in accordance with ISAE 3000 (Revised) Assurance Engagements Other than Audits or Reviews of Historical Financial Information, ISAE 3410 Assurance Engagements on greenhouse gas statements, and AA1000 Assurance Standard, AA1000AS (v3) Type 2 Moderate (which is the equivalent to ISAE 3000 limited assurance), and additional requirements under Danish audit regulation. We are responsible for: - planning and performing the engagement to obtain limited assurance about whether the consolidated ESG statement is free from material misstatement, whether due to fraud or error; -forming an independent conclusion, based on the procedures we performed and the evidence we obtained; and - reporting our conclusion to the Management and broader stakeholders of Novo Nordisk A/S. Deloitte Statsautoriseret Revisionspartnerselskab is subject to International Standard on Quality Control (ISQC) 1 and, accordingly, applies a comprehensive quality control system, including documented policies and procedures regarding compliance with ethical requirements, professional standards and applicable legal and regulatory requirements. We have complied with the requirements for independence and other ethical requirements of the International Ethics Standards Board for Accountants' International Code of Ethics for Professional Accountants (IESBA Code), which is founded on fundamental principles of integrity, objectivity, professional competence and due care, confidentiality and professional behaviour, and ethical requirements applicable in Denmark. A limited assurance engagement is substantially less in scope than a reasonable assurance engagement. Consequently, the level of assurance obtained in a limited assurance engagement is substantially lower than the assurance that would have been obtained had we performed a reasonable assurance engagement. Considering the risk of material error, we planned and performed our work to obtain all information and explanations necessary to support our conclusion. Work performed A. We are required to plan and perform our work in order to consider the risk of material misstatement in the ESG statement. To do so, we have: - conducted interviews with internal stakeholders to understand the key processes and control activities for reporting data; - obtained an understanding of the key processes and controls for managing, recording and reporting; - performed limited substantive testing on a selective basis to check that data had been appropriately measured, recorded, collated and reported; - performed analysis of data that have been selected on the basis of risk and materiality; - made inquiries regarding significant developments in the reported data; - considered the presentation and disclosure of the ESG statement; and - assessed that the process for reporting greenhouse gas emissions data follows the principles of relevance, completeness, consistency, transparency and accuracy outlined in The Greenhouse Gas Protocol Corporate Standard Revised edition (2004) and The Corporate Value Chain (Scope 3) Accounting and Reporting Standard (2011). B. Regarding alignment with the AA1000 accounting principles of Inclusivity, Materiality, Responsiveness, and Impact we performed the following activities: - interviewed members of Novo Nordisk's Board of Directors and Executive Management team, representatives of senior management at global and regional levels, as well as key employees in Global Public Affairs and Sustainability to determine their understanding of Novo Nordisk's stakeholders, the mechanisms used to engage them and key issues of interest to each stakeholder group; - interviewed external stakeholder to determine their perception of Novo Nordisk's stakeholder engagement capabilities, and responsiveness to material concerns of stakeholders; - reviewed evidence on a selective basis to support the assertions made in these interviews and in the stakeholder engagement description; - confirmed the systems and procedures to support Novo Nordisk's governance for responsible business conduct and stakeholder relationships; and - assessed the disclosure and presentation of the stakeholder engagement description. Our conclusion Based on our work and the evidence obtained, nothing has come to our attention that causes us not to believe that in all material respects: - The performance data regarding Environment, Social and Governance, on pages from 85 to 91 in the report, have been stated in accordance with the reporting criteria; - The description in the report adheres to the principles of inclusivity, materiality, responsiveness and impact set out in AccountAbility's AA1000AP (2018); -The report has been prepared in accordance with the requirements of sections 99a, 99b, 99d and 107d of the Danish Financial Statements Act (FSA). Observations and recommendations According to AA1000AS, we are required to include observations and recommendations for improvements regarding adherence to AA1000AP. We have no significant recommendations regarding the principles of Materiality, Inclusivity, Responsiveness and Impact. We have communicated to Management a number of minor recommendations for improvement. Copenhagen, 2 February 2022 Deloitte Statsautoriseret Revisionspartnerselskab Business Registration No 33 96 35 56 Anders Vad Dons State Authorised Public Accountant mne25299 Helena Barton Lead Reviewer