Management Presentation: Biosimilar Pipeline and Margin Improvement Strategy

Segment Operating Income to Carve-out EBITDA bridge In USD bn FY 2020 FY 2021 FY 2022 H1 2022 H1 2023 Segment Operating Income 1.0 1.6 1.4 0.7 0.5 Adjustments¹ -0.2 -0.2 -0.2 -0.3 -0.2 Carve-out Operating Income 0.8 1.4 1.2 0.9 0.7 Depreciation of PPE and ROU 0.3 0.3 0.2 0.1 0.1 assets Amortization of intangible 0.4 0.2 0.2 0.1 0.1 Impairment Others 0.3 0.0 0.1 0.0 0.0 Carve-out EBITDA 1.8 1.9 1.7 1.0 1.0 Note: Based on Sandoz division's reporting and carve-out financials. Numbers may not add up due to rounding. 1. Reflect mainly the transfers of the Sandoz Division's biotechnology manufacturing services to other companies' activities and the Coartem brand to the Innovative Medicines Division. 35 Management Presentation SANDOZ

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