Q3 2021 Investor Relations Results

Participants Company overview Pharmaceuticals Oncology Financial review Conclusion Appendix References Commencing strategic review of Sandoz 1 GROWTH Gx market attractive, Sandoz well placed to capitalize on growth drivers over next decade. Preparing for accretive growth with next wave of Biosimilar launches. Attractive market ◉ ☐ Gx business attractive: >USD 400 bn sales LOE over next 10 years (>170 bn in biologics) Gx market estimated CAGR ~4% to 2026 (biosimilar CAGR -9%) Expect gradual post-COVID rebound, particularly antibiotics Strong presence ▪ #1 in Europe, only Gx MNC with top 5 position in all main regions ■ Europe growing, Emerging Markets accelerating, focus to stabilize US ■ Global leadership positions in biosimilars (8 in market), Gx antibiotics, Gx oncology Strategic focus ☐ Biosimilars pipeline doubled¹; 15+ assets in development. Aiming for USD 3bn sales by 2025, USD 5bn by 2030 Complex small molecules: e.g. antibiotics, oncology, respiratory, injectables Ongoing COGS improvements: autonomous Sandoz Technical Operations Aspiration to become global Gx #1, building on brand, reach, scientific and commercial expertise Strategic review to maximize shareholder value: Review will explore all options, ranging from retaining business to separation. Update on progress of the review to be provided latest at the end of 2022. 1. Over last 3 years 12 Investor Relations | Q3 2021 Results 1 NOVARTIS | Reimagining Medicine

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