Q4 2021 Results

Participants Company overview Pharmaceuticals Oncology Financial review Conclusion Appendix Sandoz stabilizing in Q4; Biosimilars expected to drive future growth Sandoz stabilizing Q4 sales USD 2.5bn (+2% cc)1 FY sales USD 9.6bn (-2% cc)1 FY Biopharma sales USD 2.1bn (+7% cc) Outlook 2022: Sales broadly in line with PY Assumptions Cough & Cold revert to pre-COVID levels ■ Bio continues to outperform where we compete ■ Continued gross margin headwinds due to price erosion and unfavorable mix Biosimilar launches expected to drive material growth from 2024 Significant LOE opportunity Targeting USD 80bn originator sales (2030) Critical success factors Leading pipeline: 15+ assets Manufacturing scale and expertise ✓ Development and regulatory experience Global footprint Experience in commercialization Leading in Europe; expanding US, ROW Strategic review of Sandoz is progressing, expected to provide an update, at latest, by the end of 2022 1. Q4 and FY sales growth for Sandoz includes +1% point impact from a reclassification of contract manufacturing from other revenue to sales. 20 Investor Relations | Q4 2021 Results ✓ NOVARTIS | Reimagining Medicine

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