Q1 2023 Results

Company overview Financial review Conclusions Appendix References Novartis delivers strong sales growth, robust margin expansion and major innovation milestones; raising FY 2023 guidance Q1 SUMMARY Growth and Productivity Q1, % cc Core margin 38.7% (+360 bps) +18% +15% +8% +7% +8% +3% Sales Core Oplnc Sales Core Oplnc Sales Core Opinc Group IM Sandoz Innovation KisqaliⓇ NATALEE Ph3 met primary endpoint in broad early breast cancer population CosentyxⓇ demonstrated durable efficacy up to 52 weeks in Hidradenitis suppurativa (HS) EntrestoⓇ positive CHMP opinion in pediatric HF RLT platform i) Acquisition of FAP-targeting asset¹ and ii) research collaboration on bicyclic peptides² Operations Millburn and Zaragoza approved for PluvictoⓇ HF-heart failure. FAP fibroblast activation protein. Constant currencies (cc), core results are non-IFRS measures; explanation can be found on page 35 of Condensed Interim Financial Report. Unless otherwise noted, all growth rates refer to same period in PY. Oplnc operating income. IM - Innovative Medicines division. LMIC low and middle income countries. HIC high income countries. CHMP Committee for Human Medicinal Products. 1. Clovis Oncology. 2. Bicycle Therapeutics. 4 Investor Relations | Q1 2023 Results ✓ NOVARTIS | Reimagining Medicine

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