Q2 - Novozymes

Key messages in 1H 2006• 1H 2006 in line with expectations• Healthy development in sales• EBIT growth from continuous productivity gains and solid free cash flowcontinued• Four products launched in 2Q 2006• Joint development agreement with CRAC within biomass-to-fuel ethanol• Acquisition of UK-based Delta Biotechnology Ltd supports the platform ofingredients for the biopharmaceutical industry• Overall strategy retained - development activities initiated within certainareas• Execution of share capital reduction of 6.6% or DKK 46 million (nominal)• Free cash flow 2006 expectations up DKK 100 millionUnlocking the magic of nature18