Q4 2021 Results

Participants Company overview Pharmaceuticals Oncology Financial review Conclusion Appendix FY 2021 free cash flow grew to USD 13.3bn mainly driven by higher operating income Group free cash flow¹ USD bn, % USD 11.7 +14% Key drivers vs. PY + 13.3 FY 2020 FY 2021 + - Higher operating income (adjusted for non-cash items) Lower payments related to legal matters Tislelizumab in-licensing (upfront payment USD 650m) 1. Constant currencies (cc), core results and free cash flow are non-IFRS measures. An explanation of non-IFRS measures can be found on page 49 of the Condensed Financial Report. 43 Investor Relations | Q4 2021 Results ✓ NOVARTIS | Reimagining Medicine

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