Reimagining Medicine Q2 2023 Results

Company overview Financial review Conclusions Appendix References Novartis delivers strong sales growth, robust margin expansion and raises guidance Q2 SUMMARY Growth and Productivity Q2, % cc Core margin 39.0% (+340 bps) +20% +17% +9% +9% +8% +6% Sales Core Oplnc Sales Core Oplnc Sales Group IM Core Oplnc Sandoz FY 2023 Group guidance raised¹ Sales expected grow high single digit Core Oplnc expected to grow low double digit Innovation and other milestones KisqaliⓇ NATALEE Ph3 at ASCO Cosentyx® US approval 300mg Al and PFS; EU approval in HS EntrestoⓇ EU approval in pediatric HF, extending RDP to Nov 2026 Iptacopan US and EU filings in PNH; US BTD for C3G Continue strategic rationalization of development portfolio including Chinook acquisition, divestment of front of eye assets and termination of BeiGene option agreement for ociperlimab EntrestoⓇ US IP update Mylan held to infringe crystalline complex patents; Novartis disagrees with negative decision by Delaware Court and will appeal to uphold validity of combination patent Constant currencies (cc), core results are non-IFRS measures; explanation can be found on page 48 of Condensed Interim Financial Report. Unless otherwise noted, all growth rates refer to same period in PY. Oplnc operating income. IM - Innovative Medicines division. RDP Regulatory data protection. HF-heart failure. HS Hidradenitis suppurativa. BTD Breakthrough therapy designation. 1. Assumes no US EntrestoⓇ Gx at risk launch in 2023. 4 Investor Relations | Q2 2023 Results ✓ NOVARTIS | Reimagining Medicine

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