Trading by Management in Novozymes A/S B shares

In accordance with Section 28a of the Danish Securities Trading Act, Novozymes reports the following transactions under ISIN DK0010272129, Novozymes B shares under the symbol NZYM B.

Name
Relation/
Category
of close relation
Trading date Character of transaction
Volume of transaction
Buy (+)/
Sell (-)
Value of transaction (DKK)
Ulla Morin
Employee
Representative at the Board of Directors
30/11 '10   
Exercise of options (purchase of shares)
+ 150
  25,350.00
30/11 '10​
Sale of shares
- 150​ 112,880.50​