Q2 2021 Results - Reimagining Medicine

Participants Company overview Pharmaceuticals Oncology Financial review Conclusion Appendix References Sandoz business stabilizing in Q2 1 GROWTH 2 PRODUCTIVITY Sandoz performance starting to stabilize (vs. PY, in % cc) Net total sales Q2 2021 +5% H1 2021: -5% Biopharma sales Q2 2021 +5% H1 2021: +6% Core operating income Q2 2021 +3% H1 2021: -19% Challenges remain due to COVID-19 related disruptions Impact on Q2 growth Sales growth excl. PY forward -1% CC purchasing de-stocking1 COVID-19 impact mainly Retail Generics Historically weak cough and cold. season, decreased Anti-Infectives Confidence for future: investments in biosimilars and select Retail generics Biosimilars Pipeline doubled in ~3 years Strategic focus: oncology, immunology, endocrinology, Generics underserved disease areas Strengthening antibiotics manufacturing setup Select investments in complex areas, incl. oncology solids, respiratory, injectables 1. Growth excl. PY forward purchasing de-stocking is a non-IFRS measure; explanation can be found on page 61 of Condensed Interim Financial Report 8 Investor Relations | Q2 2021 Results 1 NOVARTIS | Reimagining Medicine

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