Q3 2021 Investor Relations Results

Participants Company overview Pharmaceuticals Oncology Financial review Conclusion Appendix References 9M 2021 free cash flow growing to USD 10.3bn Group free cash flow¹ USD bn, % USD 8.3 Key drivers vs. PY: + Higher operating income (adjusted for non-cash items) +23% + 10.3 Lower payments related to legal matters + Favorable working capital + Higher divestment proceeds 9M 2020 9M 2021 Tislelizumab in-licensing (upfront payment USD 650m) 1. Free cash flow is a non-IFRS measure. An explanation of non-IFRS measures can be found on page 47 of the Condensed Interim Financial Report. 40 Investor Relations | Q3 2021 Results NOVARTIS | Reimagining Medicine

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