Novartis Investor Presentation

New Novartis: Our strategy Our focus Our priorities > Conclusion Abbreviations Novartis concluded that separation of Sandoz, via 100% spin-off, is in the best interests of shareholders (completion H2 2023) Expected benefits U NOVARTIS (New-Novartis) Clear investment thesis as an Innovative Medicines business ■ Exclusive focus and investment in Innovative Medicines Strong position in 5 core TAs, leadership in technology platforms ■ Enhanced execution of the pipeline and commercialization Improved financial profile and return on capital Organizational and operational simplification Capital allocation based on its business needs SANDOZ (Standalone) Clear investment thesis as a Generics and Biosimilars business #1 European Generics company1 and a global leader in Biosimilars ■ More effective business strategy for the Gx market Greater freedom to operate Capital allocation based on its business needs ■ Culture fit for the Gx industry, with focus on faster/leaner decision-making and more efficient use of cost base Improving access with broad patient reach of ~500m patients Limited synergies between Innovative Medicines and Generics; at opposite ends of the biopharma value chain with significant differences in business dynamics 1. Based on IQVIA MAT 03/2022, gross sales for combined Generics and Biosimilars market. 31 Novartis Investor Presentation | September 22, 2022 U | NOVARTIS | Reimagining Medicine

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