#1Alcon 2Q21 Earnings Presentation August 18, 2021#2Legal disclaimers Forward-looking statements This document contains, and our officers and representatives may from time to time make, certain "forward-looking statements" within the meaning of the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "anticipate," "intend," "commitment," "look forward," "maintain," "plan," "goal," "seek," "target," "assume," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. Examples of forward-looking statements include, among others, statements Alcon makes regarding its liquidity, revenue, gross margin, effective tax rate, foreign currency exchange movements, earnings per share, its plans and decisions relating to various capital expenditures, capital allocation priorities and other discretionary items, market growth assumptions, and generally, its expectations concerning its future performance and the effects of the COVID-19 pandemic on its businesses. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on Alcon's current beliefs, expectations and assumptions regarding the future of its business, future plans and strategies, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties and risks that are difficult to predict such as: the effect of the COVID-19 pandemic as well as other viral or disease outbreaks and the availability and the public's acceptance of vaccines; the commercial success of its products and its ability to maintain and strengthen its position in its markets; the success of its research and development efforts, including its ability to innovate to compete effectively; its success in completing and integrating strategic acquisitions; its ability to successfully transition the manufacture, distribution and commercialization of Simbrinza from Novartis; its ability to leverage existing relationships with healthcare professionals to help drive patient adoption of Simbrinza; pricing pressure from changes in third party payor coverage and reimbursement methodologies; global and regional economic, financial, legal, tax, political, and social change; data breaches or other disruptions of its information technology systems; ongoing industry consolidation; its ability to properly educate and train healthcare providers on its products; changes in inventory levels or buying patterns of its customers; the impact of a disruption in its global supply chain or important facilities; ability to service its debt obligations; its ability to comply with the US Foreign Corrupt Practices Act of 1977 and other applicable anti-corruption laws, particularly given that it has entered into a three-year Deferred Prosecution Agreement with the US Department of Justice; uncertainty and impact relating to the potential phasing out of LIBOR and transition to alternative reference rates; the need for additional financing through the issuance of debt or equity; its reliance on outsourcing key business functions; its ability to protect its intellectual property; the impact of unauthorized importation of its products from countries with lower prices to countries with higher prices; uncertainties regarding the success of Alcon's separation and Spin-off from Novartis and the subsequent transformation program, including the expected separation and transformation costs, as well as any potential savings, incurred or realized by Alcon; the effects of litigation, including product liability lawsuits and government investigations; its ability to comply with all laws to which it may be subject; effect of product recalls or voluntary market withdrawals; the implementation of its enterprise resource planning system; its ability to attract and retain qualified personnel; the accuracy of its accounting estimates and assumptions, including pension plan obligations and the carrying value of intangible assets; the ability to obtain regulatory clearance and approval of its products as well as compliance with any post-approval obligations, including quality control of its manufacturing; legislative and regulatory reform; the ability of Alcon Pharmaceuticals Ltd. to comply with its investment tax incentive agreement with the Swiss State Secretariat for Economic Affairs in Switzerland and the Canton of Fribourg, Switzerland; its ability to manage environmental, social and governance matters to the satisfaction of its many stakeholders, some of which may have competing interests; its ability to operate as a stand-alone company; whether the transitional services Novartis has agreed to provide Alcon are sufficient; the impact of the spin-off from Novartis on Alcon's shareholder base; the impact of being listed on two stock exchanges; the ability to declare and pay dividends; the different rights afforded to its shareholders as a Swiss corporation compared to a US corporation; and the effect of maintaining or losing its foreign private issuer status under US securities laws. Additional factors are discussed in Alcon's filings with the United States Securities and Exchange Commission, including its Form 20-F. Should one or more of these uncertainties or risks materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated. Therefore, you should not rely on any of these forward-looking statements. Forward-looking statements in this document speak only as of the date of its filing, and Alcon assumes no obligation to update forward-looking statements as a result of new information, future events or otherwise. Intellectual property !!TM !! This report may contain references to our proprietary intellectual property. All product names appearing in italics or ALL CAPS are trademarks owned by or licensed to Alcon Inc. Product names identified by a "Ⓡ" or a are trademarks that are not owned by or licensed to Alcon or its subsidiaries and are the property of their respective owners. Non-IFRS measures Alcon uses certain non-IFRS metrics when measuring performance, including when measuring current period results against prior periods, including core results, percentage changes measured in constant currencies, and free cash flow. Because of their non-standardized definitions, the non-IFRS measures (unlike IFRS measures) may not be comparable to the calculation of similar measures of other companies. These non-IFRS measures are presented solely to permit investors to more fully understand how Alcon management assesses underlying performance. These non-IFRS measures are not, and should not be viewed as, a substitute for IFRS measures. Alcon 2#3Agenda Alcon 01 02 03 04 Key topics IFRS results Core results Outlook#4Key topics Alcon#5Key topics Highest quarterly sales and earnings since spin-off, driven by strong US market recovery, new innovation and solid commercial execution ● Surgical franchise outperformed the market and Vision Care franchise returned to growth All sales categories posted growth vs. 2019, driven by market share gains Strong US market recovery in contrast to mixed international conditions Continuing investment in R&D and new contact lens manufacturing, and new product launches Raised full year 2021 guidance with projected net sales of $8.0 - $8.2 billion and core diluted EPS¹ of $2.00 - $2.10 Alcon 1. Core diluted EPS is a non-IFRS measure. An explanation of non-IFRS measures can be found in the Appendix. 5#62Q21 select financial highlights Top line 2021 2Q19 Third party sales 2Q20 $1,198M $2,094M $1,863M 2Q21 sales of $2.1B, up +11% cc¹ vs. 2Q19, with growth across all five sales categories Alcon Market share gains coupled with strong market recovery in US Surgical outperformed the market, ATIOLs growing share Vision Care returned to growth on key products: Precision1, Pataday and Systane Core operating margin 2Q21 2020 Profitability 2019 (6.6%) 18.2% 16.6% Core operating margin up 160 bps vs. 2Q19 Operating leverage and reduced investments in COVID-impacted markets 70 bps positive impact from FX vs. 2Q20 10 bps negative impact from FX vs. 2Q19 2Q21 Core EPS 2Q19 1 Core diluted EPS 2020 ($0.21) $0.56 $0.47 2Q21 core diluted EPS of $0.56, up 9 cents or 19% vs. 2Q19 2020 was impacted by lower sales, unfavorable manufacturing absorption, provisions for expected credit losses due to COVID-19 and inventory provisions 1H21 Cash generation 1H19 Free cash flow 1H20 ($110M) $95M $320M 1H21 cash from operations of $542 million 1. Constant currency, core operating margin, core diluted EPS and free cash flow are non-IFRS measures. An explanation of non-IFRS measures can be found in the Appendix. Higher free cash flow vs. 1H19 driven by higher core operating income and lower separation spend, partially offset by increased inventory to support upcoming demand and new product launches 01 6#7con con Alcon Alcon kon Alcon Alcon Alcon -0.75 CYLINDER HAMMA -0.75 CYLINDER MUFFICER -4.75 CYLINDER SEFFEVER -0.75 CYLINDER MEDEREER MOST -0.75 CYLINDER ... -0.75 CYLINDER BUZZFEED -0.75 CYLINDER MERFETER -4.75 CYLINDER MEFFERA 4.75 CYLINDER SEFFEK Alcon 4.75 CYLINDER STEFFEN -4.75 CYLINDER WERDENEY -0.75 CYLINDER -0.75 CYLINDER NA STEFFERS Alcon Alcon Alcon Alcon Alcon Alcon Alcon Alcon Alcon Alcon Alcon Alcon F Alcon Alcon Alcon -0.75 C Has M3, M PAR ton SCYLINDER ACRY -0.75 CYLINDER ANG MGA AYTGAA -0.75 CYLINDER -0.75 CYLINDER -0.75 CYLINDER MEGA SE JE ME SE*** -0.75 CYLINDER Alcon IFRS results con Alcon Alcon Alcon Alcon Alcon GRENA -0.75 CYLINDER AS 10, 20, 50, 20 -0.75 CYLINDER 30% 30% 40,90,007,4 -0.75 CYLINDER ANESTET WHEN -0.75 CYLINDER 337,504670 AT BEN MAATI -0.75 CYLINDER AXE: 20060507#82Q21 IFRS results Alcon Worldwide net sales $1,863M $1,198M 2Q19 2Q20 ● +75% vs. 2Q20 +12% vs. 2Q19 $2,094M 2Q21 Operating margin (2.8%) 2Q19 (38.9%) 2Q20 10.9% 2Q21 ($0.80) 2Q19 EPS $0.31 ($0.86) 2Q20 2Q21 8#91H21 IFRS results Alcon Worldwide net sales $3,640M 1H19 ● $3,020M 1H20 +33% vs. 1H20 +10% vs. 1H19 $4,004M 1H21 Operating margin (2.8%) 1H19 (16.4%) 1H20 9.4% 1H21 EPS ($1.02) ($0.98) 1H19 1H20 $0.48 1H21 9#10Alcon CKZO RHSDK Core results#112021 core results¹ Alcon Worldwide net sales $1,863M $1,198M 2Q19 $2,094M 2Q20 +69% cc vs. 2Q20 +11% cc vs. 2019 2Q21 ● ● Core operating margin 18.2% 16.6% (6.6%) 2Q20 FX vs. 2Q20: +70 bps FX vs. 2Q19: (10) bps 2Q19 2Q21 Core diluted EPS $0.56 $0.47 ($0.21) 2Q19 2Q20 2Q21 1. Core operating margin, core diluted EPS, and constant currency growth, including FX impacts, are non-IFRS measures. An explanation of non-IFRS measures can be found in the Appendix. 11#121H21 core results¹ Alcon Worldwide net sales $3,640M 1H19 $3,020M $4,004M 1H20 +29% cc vs. 1H20 +9% cc vs. 1H19 1H21 ● ● Core operating margin 17.1% 7.4% 1H19 18.1% 1H20 FX vs. 1H20: +50 bps FX vs. 1H19: (20) bps 1H21 Core diluted EPS $0.98 1H19 $0.24 1H20 $1.05 1H21 1. Core operating margin, core diluted EPS, and constant currency growth, including FX impacts, are non-IFRS measures. An explanation of non-IFRS measures can be found in the Appendix. 12#132Q21 product mix¹ Alcon $2.1 billion Alcon 2Q21 sales 1. Numbers may be rounded for presentation purposes. Vision Care $0.9B (42%) Ocular health (40%) Dry eye products Allergy eye drops Contact lens solution Glaucoma eye drops Contact lenses (60%) Daily lenses Reusable lenses Cosmetic lenses Surgical $1.2B (58%) Implantables (32%) Monofocal IOLS Advanced technology IOLS Consumables (51%) Dedicated consumables Custom surgical packs Procedural products Equipment/other (17%) Cataract equipment Retinal equipment Refractive equipment Diagnotics & visualization Equipment service Procedural eye drops 13#142021 vs. 2Q19 Surgical growth in all categories + + + Alcon ● ● ● ● ● ● Ongoing roll-out of PanOptix and Vivity driving market share Penetration growth of ATIOLS Consumables growth across procedure types (cataract, vit-ret and refractive) despite varied international market recovery Healthy demand for equipment, aided by innovation and strong commercial execution Expansion of new operating room capacity Refractive continues to benefit from higher discretionary income and focus on health and wellness 1. Constant currency growth is a non-IFRS measure. An explanation of non-IFRS measures can be found in the Appendix. Net Sales (USD $M) $1,051 $300 $588 $163 2Q19 $1,206 $387 $620 $199 2Q21 Implantables Consumables Equipment/other (USD) (CC)¹ 15% 14% 29% 29% 5% 4% 22% 23% 14#152021 vs. 2Q19 Vision Care growth driven by new product launches + + Alcon ● ● ● ● ● ● ● Strong US growth driven by new product launches Global contact lens share up second quarter in a row Strong demand for Precision 1 for Astigmatism Soft market conditions in international markets affected by COVID-19 Strong consumer and retail interest for Pataday Growth of Systane and MDPF launches Introduction of Simbrinza 1. Constant currency growth is a non-IFRS measure. An explanation of non-IFRS measures can be found in the Appendix. $812 $493 $319 Net Sales (USD $M) 2Q19 $888 $535 $353 2Q21 Contact lenses Ocular health (USD) (CC)¹ 9% 9% 8% 15 6% 11% 11%#162021 vs. 2019 Core operating margin¹ bridge % of net sales ● 16.6 Alcon 2Q19 (0.4) GM 2.8 SG&A (0.5) R&D (0.2) Other income/expense Key drivers SG&A: operating leverage and reduced investments in COVID-impacted markets 18.3 1. Core operating margin is a non-IFRS measure. An explanation of non-IFRS measures can be found in the Appendix. (0.1) FX 18.2 2Q21 16#171H21 vs. 1H19 Core operating margin¹ bridge % of net sales ● 17.1 Alcon 1H19 0.1 GM 1.6 SG&A (0.6) R&D 0.1 Other income/expense Key drivers SG&A: operating leverage and reduced investments in COVID-impacted markets 18.3 1. Core operating margin is a non-IFRS measure. An explanation of non-IFRS measures can be found in the Appendix. (0.2) FX 18.1 1H21 17#18Cash flow and balance sheet highlights Cash and cash equivalents $1,366 million 1H21 cash flows from operations $542 million 1H21 free cash flow¹ $320 million Payment of $355 million for US commercialization rights of Simbrinza Dividend payment of $54 million Capex $222 million Investing in new contact lens manufacturing lines Expect higher capex in 2H21 due to timing of installations Debt $4,122 million No financial covenants Alcon 1. Free cash flow is a non-IFRS measure. An explanation of non-IFRS measures can be found in the Appendix. 18#1921 Alcon € 44 @ th EXTRA STRENGTH Pataday ONCE DAILY RELIEF Dipating doctoride ophtholinicsolation 6.7% Antibiotamies Eye Allergy Itch Relief Work Me eved from Alleges der -Grass Rapored Alcon 2.500.00 20 2021 Outlook