What will happen to the nofollow links?

If the option is on (enabled by default) – they will not be considered.
Additionally, if needed, you may always specify ignoring only noindex (pages, marked as noindex) or only nofollow links separately from each other.
Nofollow link types:

• HTML links containing the nofollow attribute
• URLs that are disallowed in the robots.txt file
• Located on a webpage tagged with the nofollow robots tag