Novartis AG Investor Relations

Q3 2019 Results Investor presentation October 22, 2019 Disclaimer

This presentation contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, that can generally be identified by words such as “potential,” “expected,” “will,” “planned,” “pipeline,” “outlook,” or similar expressions, or by express or implied discussions regarding potential new products, potential new indications for existing products, potential product launches, or regarding potential future revenues from any such products; or regarding the potential outcome, or financial or other impact on Novartis, of the proposed divestiture of certain portions of our Sandoz Division business in the US; or regarding the potential impact of the completion of the up to USD 5 billion share buyback; or regarding potential future sales or earnings of the Group or any of its divisions or potential shareholder returns; or by discussions of strategy, plans, expectations or intentions. Such forward-looking statements are based on the current beliefs and expectations of management regarding future events, and are subject to significant known and unknown risks and uncertainties. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements. You should not place undue reliance on these statements. In particular, our expectations could be affected by, among other things: global trends toward healthcare cost containment, including ongoing government, payor and general public pricing and reimbursement pressures and requirements for increased pricing transparency; regulatory actions or delays or government regulation generally, including potential regulatory actions or delays with respect to the proposed transactions or the development of the products described in this presentation; the potential that the proposed divestiture of certain portions of our Sandoz Division business in the US may not be completed in the expected time frame, or at all; the potential that the strategic benefits, synergies or opportunities expected from the proposed divestiture of certain portions of our Sandoz Division business in the US, and other transactions described, may not be realized or may be more difficult or take longer to realize than expected; the inherent uncertainties involved in predicting shareholder returns; the uncertainties inherent in the research and development of new healthcare products, including clinical trial results and additional analysis of existing clinical data; our ability to obtain or maintain proprietary intellectual property protection, including the ultimate extent of the impact on Novartis of the loss of patent protection and exclusivity on key products that commenced in prior years and will continue this year; safety, quality or manufacturing issues; uncertainties involved in the development or adoption of potentially transformational technologies and business models; uncertainties regarding actual or potential legal proceedings, including, among others, product liability litigation, disputes and litigation with business partners or business collaborators, government investigations generally, litigation and investigations regarding sales and marketing practices, and intellectual property disputes; our performance on environmental, social and governance measures; general political, economic and trade conditions, including uncertainties regarding the effects of ongoing instability in various parts of the world; uncertainties regarding future global exchange rates; uncertainties regarding future demand for our products; uncertainties regarding potential significant breaches of data security or data privacy, or disruptions of our information technology systems; and other risks and factors referred to in Novartis AG’s current Form 20-F on file with the US Securities and Exchange Commission. Novartis is providing the information in this presentation as of this date and does not undertake any obligation to update any forward-looking statements as a result of new information, future events or otherwise.

Eylea® is a registered trademark of Regeneron Pharmaceuticals, Inc.

2 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Vas Narasimhan Chief Executive Officer Strong Q3 with double digit top and bottom line growth, margin expansion and major innovation milestones

Q3 operational performance Innovation performance Continuing operations1 growth vs. PY in % cc 2 Launched in US

Ofatumumab Compelling efficacy in RMS

Met primary endpoints in nr-axSpA +18% +1.4% +13% pts Achieved OS in 2nd Ph3 study

Sales Core OpInc Core margin Clinically important benefit in HFpEF sub-groups3 Sales & Core OpInc guidance increased QVM149 / QMF149 Positive Ph3 results in asthma

OS – overall survival RMS – relapsing forms of multiple sclerosis 1. Continuing operations as defined on page 44 of the Condensed Interim Financial Report, excludes Alcon, includes the businesses of Innovative Medicines and Sandoz (including the US generic oral solids and dermatology portfolio), as well as the continuing corporate functions 2. Constant currencies (cc), core results and free cash flow are non-IFRS measures. An explanation of non-IFRS measures can be found on page 56 of the Condensed Interim Financial Report 3. Study narrowly missed primary endpoint, but showed benefit in pre-specified large subgroups including women and patients with lower ejection fraction

4 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Key growth drivers represent 28% of 9M Innovative Medicines sales and contributed +8%pts to Novartis sales growth

Key growth drivers sales in USD m Growth contribution to continuing operations sales (% of Innovative Medicines sales) (% points) 28%

9% 21% 2% 1% 16%

10% 8%

9M 2016 9M 2017 9M 2018 9M 2019 Growth drivers Gx erosion Others CC growth volume 9M 2019 Cosentyx® Tafinlar®+Mekinist® Kisqali® Xiidra® Entresto® Xolair® Kymriah® Piqray® Promacta® Lutathera® Zolgensma®

5 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Strong sales performance of key growth drivers

Key growth drivers Q3 2019 9M 2019 Sales Growth vs. PY Growth vs. PY Sales Growth vs. PY USD Million USD Million cc USD Million cc 937 187 27% 2,586 30%

160 160 nm 175 nm

430 159 61% 1,208 75%

102 102 nm 102 nm

380 85 31% 1,036 26%

Lutathera® 119 63 116% 334 nm

79 59 nm 182 nm

345 54 22% 982 22%

123 51 76% 325 92%

299 44 22% 870 20%

43 43 nm 49 nm

NM – not meaningful 6 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Cosentyx® sales driven by strong demand across indications and geographies

Cosentyx® revenues Strong momentum in growing US dermatology USD m, % cc market1

. Dermatology market TRx +17% YoY, driven by novel agents +27% . Cosentyx® TRx +32% YoY, despite intensifying competition 937 750 Leading expansion in growing US SpA market2 336 Ex-US 291 . SpA market TRx +15% YoY . Cosentyx® major contributor to market growth, TRx +36% YoY 601 US 459 . Positive CHMP opinion for up-titration to 300mg in AS . PREVENT met primary endpoints at 16 and 52 weeks Q3 2018 Q3 2019

1. IQVIA National Prescription Audit for Dermatology, WE 09/27/2019 2. IQVIA National Prescription Audit for Rheumatology, WE 09/27/2019. Rx for SpA indications. Market includes Cimzia®, Enbrel®, Humira®, Simponi®, Stelara®, Taltz® and Cosentyx®

7 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Nr-axSpA indication builds Cosentyx® leading position in SpA, potentially doubling patient population in axSpA1

Significant potential for growth Well-positioned for further growth across SpA populations (US & EU5)2 PREVENT Could add nr-axSpA to label; submissions 3.2m ongoing

1.7m 1.7m Undiagnosed MAXIMISE Proved for the first-time benefits in axial Diagnosed manifestations of PsA Biologics EXCEED Assessing benefits in joints vs. Humira® – treated expected H1 2020 PsA AS nr-axSpA Other clinical Including HS, pediatric PsO, pediatric JIA Biologics 19-27% 12-21% 4-8% trials and Ph2 GCA study, on track penetration3

Please see appendix for references All trademarks are the property of their respective owners HS – Hidradenitis Suppurativa PsO – Psoriasis JIA – Juvenile Idiopathic Arthritis GCA – Giant Cell Arthritis

8 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Entresto® solidifying position as standard of care in HFrEF with >USD 1.2bn sales YTD

Entresto® revenues Entresto® weekly US TRx USD m, % cc 2017-19, thousands +61% 45 430 40 +51% 35 271 210 Ex-US 30 120 25 220 US 20 Q3 Q3 151 2018 2019 0 Q3 2018 Q3 2019 11/17 01/18 03/18 05/18 07/18 09/18 11/18 01/19 03/19 05/19 07/19 09/19 11/19

. Solid QoQ demand growth US and ex-US . PROVE-HF and EVALUATE-HF provide mechanistic support for Entresto® efficacy1 . FDA approved pediatric indication in Q4

HFrEF – heart failure with reduced ejection fraction 1. While several structural and functional echocardiographic measures versus enalapril showed improvement, EVALUATE didn’t meet the primary endpoint of change from baseline in aortic characteristic impedance at 12 weeks

9 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation PARAGON-HF: clinically important effect against active comparator supports expansion of addressable population

Total HF hospitalizations and CV death N= 4796 . Largest HFpEF outcomes trial on back of approved HFrEF indication

. Despite narrow miss on primary endpoint, pre-defined

Valsartan secondary endpoints and subgroup analyses Sacubitril/valsartan supportive of benefit

. Greater treatment benefit in HFpEF patients with Rate ratio 0.87 (95% CI 0.75, 1.01) p = 0.059 ejection fraction below median, and in women

Regulatory and payer discussions ongoing. US submission for inclusion of data in label Q4 2019

HFrEF – heart failure with reduced ejection fraction HFpEF – heart failure with preserved ejection fraction

10 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Zolgensma® off to a strong start with sales USD 175m since launch

Broad access Solid demand Broad patient profile

~90% commercial >50 treating institutions Even distribution across patients and ~30% across US - majority of age, SMA types and Medicaid patients leading academic centers incident and prevalent covered of excellence having populations prescribed since launch >99% final approval rate >50% switches from for on label patients nusinersen

11 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Zolgensma® key opportunities to build on US launch momentum

Opportunities Regulatory

. (US): 30% of newborns Awaiting FDA feedback on IT filing Newborn screening US screened, expected to reach 70% end of 2020 approach . ~2/3 of incident patients treated in states with newborn screening (vs. ~1/4 in states without) EU CHMP opinion anticipated in Q1 2020

. Medicaid policies: coming in place rapidly including key states like Florida, New Jersey Japan Decision anticipated in 1H 2020 and Michigan

. New interim STRONG data: reinforcing Early Including France, Portugal, Germany efficacy in SMA type II (IT, +5.9pts HFMSE access score, patients 2-5 years old)

IT – intrathecal

12 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Strong start to Beovu® US launch, highly competitive label Similar efficacy with fewer injections, supported by visual & anatomical measures

Longer treatment intervals achievable Supportive label language on Overall safety profile in without compromising efficacy visual and anatomical measures** line with comparator

Only q12w without compromise to efficacy* Recognition of treatment decisions Most common adverse according to visual and anatomical reactions (≥5%): vision Only treatment with q12w recommended measures of disease activity blurred, cataract, immediately after loading conjunctival hemorrhage, Reductions in central retinal subfield Flexibility from q8w to q12w eye pain, vitreous floaters thickness across all treatment arms

*Eylea® prescribing information states “Although not as effective as the recommended every 8-week dosing regimen, patients may also be treated with one dose every 12 weeks after one year of effective therapy. Patients should be assessed regularly”. Lucentis® prescribing information states: “Although not as effective, patients may also be treated with one dose every 3 months after 4 monthly doses. Patients should be assessed regularly.”

**According to the FDA label, the utility of these measures has not been established

All trademarks are the property of their respective owners Source: BEOVU [prescribing information] East Hanover, NJ. Novartis: 2019, Dugel P, et al. HAWK and HARRIER: Ph3, multicenter, randomized, double-masked trials of brolucizumab for neovascular age-related macular degeneration [published online ahead of print]. Ophthalmology. 2019. nAMD = neovascular age related macular degeneration; VEGF = Vascular Endothelial Growth Factor; q12w = every 12 weeks

13 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Beovu® comprehensive clinical trial programs ongoing including potential new indications

AMD DME RVO PDR 2019-20201 20212 ≥20232 ≥20232,3

CONDOR A head-to-head superiority study vs. aflibercept evaluating treatment Phase 3 non-inferiority study vs. interval duration in an identical aflibercept to support global Treat-to-Control regimen registration Phase 3 head-to-head non-inferiority Phase 3 non-inferiority studies of studies vs. aflibercept to support brolucizumab q12w/ q8w vs. global registration aflibercept to support global A head-to-head non-inferiority study registration vs. aflibercept evaluating the efficacy and safety of q4w treatment

PCV study A head-to-head non-inferiority study A head-to-head superiority study vs. aflibercept evaluating the efficacy vs. aflibercept evaluating polyp and safety of q4w treatment regression

1. First expected approval date 2. first planned submission 3. Study name pending approval AMD = Age related macular degeneration, DME = Diabetic Macular Edema, RVO = Retinal vein occlusion, PDR = Proliferative diabetic retinopathy; q4w = every 4 weeks

14 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Ofatumumab – high efficacy disease-modifying therapy with the potential to be used early and broadly

Strong efficacy results vs. teriflunomide Supporting highly competitive (ASCLEPIOS I&II) product profile

. Superior efficacy for relapses, MRI activity High efficacy . Substantial reductions in 3- and 6-month disability progression1 Favorable safety profile

2 . Lower levels of NfL Convenient subcutaneous option . Safety profile – no significant signals concerning infections/ malignancies No need for infusion center

Initiating worldwide regulatory submissions starting Q4 2019

1. CDW, confirmed disability worsening and CDP, confirmed disability progression are interchangeable terms, defined by an increase ≥1.5 EDSS points for patients with baseline EDSS of 0, increase of ≥1.0 EDSS points patients with baseline EDSS of 1.0-5.0 and increase of t ≥0.5 EDSS points for patients with baseline EDSS of 5.5 2. NfL levels at month three measured as adjusted geometric mean levels and difference is geometric mean ratio (GMR)

15 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Market feedback on Mayzent® encouraging – acceleration of diagnosis and onboarding needed for sales ramp-up

Supportive label and Appreciated by customers Accelerating diagnosis and additional unique data and payers onboarding

 Active SPMS1 (EDSS 3-6)  90% willingness to prescribe4 . Shift focus from relapses to  Reduces disease progression  >2600 SFs, 2/3 in aSPMS progression .  Safety and tolerability  >150m lives with preferred or Drive urgency to treat .  Cognitive processing speed2 unrestricted access Simplify onboarding .  4 year delay to wheelchair3 Accelerate time to paid Rx

Expect CHMP opinion in late Q4 2019

Please see appendix for references aSPMS – active Secondary progressive multiple sclerosis EDSS – Expanded Disability Status Scale SF – Start Form

16 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Fevipiprant LUSTER to determine benefit in moderate-severe asthma. ZEAL confirmed clean safety profile but no significant lung function improvement in less severe population

Comprehensive Ph3 program to define full potential Ph3 asthma study populations

US patient numbers (≥ 12 years) Exacerbation Core Results expected Q1 2020 52 weeks registration HIGH BASE CASE GINA 4/5 4 4 LUSTER: high eosinophils

1.5m patients Safety Core Interim results expected Q1 ZEAL 1.4m Up to 3 years registration 2020 5 patients FURTHER POTENTIAL GINA 3/4/5 LUSTER: low eosinophils

EOSINOPHILS 1.5m patients

Lung function Supportive No significant improvement of LOW 12 weeks FEV1 on top of ICS ± LABA1,2 studies Moderate Severe GINA 3/4 Clean safety profile confirmed3 ASTHMA SEVERITY

GINA – Global Initiative for Asthma 1. In combination with inhaled standard of care – predominantly low-medium dose ICS+LABA 2. Detailed analysis of the ZEAL1 & 2 data is ongoing & results to be communicated in H1 2020 3. Based on ZEAL 1 & 2 and a dedicated thorough QT study which demonstrated absence of a QTcF signal with fevipiprant vs. placebo (Novartis data on file) 4. High eosinophils defined as ≥ 250 cells/µL 5. patients with unresolved symptoms and exacerbations on GINA 3 regimes

17 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Piqray® launch off to strong start with USD 49m YTD sales

Strong launch in US Building foundation for global launch USD million . First and only therapy for aBC patients with PIK3CA mutation . Approximately 40% of the HR+/HER2- aBC population have a mutation in PIK3CA . Good initial uptake of PIK3CA testing in the US . Foundation Medicine PIK3CA CDx tissue approval 43 anticipated Q4 2019 . CHMP opinion expected H1 2020 6 . Potential to expand1 beyond aBC with programs starting in HER2+, TNBC, head & neck, ovarian cancer Q2 2019 Q3 2019

aBC – advanced breast cancer TNBC – triple negative breast cancer HR+/HER2- – hormone receptor positive, human epidermal growth factor receptor-2 negative 1. Alpelisib (BYL719) also being explored in PIK3CA-related overgrowth spectrum (PROS), a group of rare disorders driven by mutations in the PIK3CA gene

18 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Kisqali® is the only CDK4/6 inhibitor to demonstrate consistently superior overall survival (OS) in two Ph3 trials

The only CDK4/6 with two positive readouts OS benefit proven across multiple populations and combination partners MONALEESA-3 Post-menopausal . Kisqali® plus fulvestrant achieved statistically significant OS benefit in postmenopausal patients (MONALEESA-3)

. Kisqali® plus endocrine therapy achieved statistically significant OS benefit in pre- and peri-menopausal patients (MONALEESA-7)

. MONALEESA-7 Across both pivotal Ph3 trials, Kisqali demonstrated 28% / 29% Pre-menopausal reduction in the risk of death

. Comprehensive OS evidence expected to further differentiate Kisqali® within CDK4/6 class

19 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation 2019 expected pipeline milestones

H1 2019 H2 2019 ✓ Achieved* ✕ Missed* ®1 ® 2 Regulatory Mayzent SPMS (US) ✓ BYL719 (Piqray ) HR+ Breast Cancer (US) ✓ Kymriah® Ped / Young Adult r/r ALL (JP) ✓ Beovu® nAMD (US) ✓ decisions and ® ® Kymriah r/r DLBCL (JP) ✓ Lucentis RoP (EU / JP) ✓ (EU) opinions Promacta® Severe aplastic anaemia (EU) ✕ Lucentis® Diabetic Retinopathy (EU) ✓3 Zolgensma® SMA type I (US) ✓ Mayzent®1 SPMS (EU / JP) ® EU Q1 2020 ® Zolgensma SMA type I (EU / JP) JP H1 2020 Xolair Pollinosis (JP) ® Major Brolucizumab (RTH258) nAMD (US / EU / JP) ✓ Cosentyx nr-AxSpA (US / EU / JP) ✓ (EU) ✓ ® ✓ expected Crizanlizumab (SEG101) Sickle Cell Disease (US / EU) Entresto HF-rEF (JP) Mayzent®1 SPMS (JP) ✓ Entresto® HF-pEF (US / EU) submissions INC280 NSCLC (US / JP) Ofatumumab (OMB157) Relapsing MS (US / EU) PDR001 (combination Metastatic Melanoma (US / EU) H1 2020 with Tafinlar®+Mekinist®) QVM149 Asthma (EU / JP) ✓ ® Major AVXS-101 IT SMA type II IT Formulation ✓ Cosentyx nr-AxSpA ✓ SMA type I / II / Zolgensma® ✓ Entresto® HF-pEF ✓ 4 expected trial presymptomatic ( ) readouts Fevipiprant (QAW039) Asthma5 Ofatumumab (OMB157) Relapsing MS ✓ PDR001 (combination Metastatic melanoma with Tafinlar® + Mekinist®) *Represents achieving on-time readout of the data, irrespective of trial outcome 1. The name Mayzent® has now been fully approved by the FDA and so has the product. But the name has only been provisionally approved in Europe, and the product has not yet been approved there 2. Piqray® FDA approval achieved in H1 2019. 3. CHMP positive opinion received 4. Study narrowly missed primary endpoint, but showed benefit in pre-specified large subgroups including women and patients with lower ejection fraction 5. ZEAL 1/2 readouts complete (did not meet the primary efficacy endpoint of FEV1 improvement in moderate asthmatic patients), LUSTER 1/2 readouts expected Q1 2020

20 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation 2020 catalysts expected to maintain 2019 momentum

Potential Selected catalysts examples Key Ofatumumab (OMB157) Capmatinib (INC280) Cosentyx® Relapsing MS NSCLC nrAxSpA approvals1 Crizanlizumab (SEG101) QVM149 Sickle cell disease Asthma Key Fevipiprant (QAW039) AVXS-101 IT Alpelisib (BYL719) 2 Asthma SMA type 2/3 PIK3CA-related overgrowth submissions spectrum 177Lu-PSMA-617 PDR001 combo4 mCRPC Metastatic melanoma Phase 3 Select Phase 2 177Lu-PSMA-617 Beovu® Tropifexor (LJN452) LNP023 mCRPC DME NASH Renal diseases and paroxysmal nocturnal Key ABL001 (3rd line) Kisqali® LOU064 3 hemoglobinuria readouts Chronic myeloid leukemia Breast cancer (MONALEESA-2 OS) Autoimmune diseases Entresto® Jakavi® Post-acute MI Chronic GvHD

1. First approval in any market 2. First submission in any market 3. Readouts enabling submission, label change or pivotal trial initiation 4. In combination with Tafinlar® and Mekinist®

21 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Harry Kirsch Chief Financial Officer Summary of Q3 and 9M 2019 continuing operations financial results

1 Change vs. PY Change vs. PY Continuing operations Q3 9M USD million 2019 % USD % cc 2019 % USD % cc

Net Sales 12,172 10 13 35,042 5 9

Core Operating income2 3,748 15 18 10,650 13 18

Operating income 2,358 5 9 7,263 3 10

Net Income 2,041 8 12 6,018 -48 -45

2 Core EPS (USD) 1.41 16 19 3.97 12 17

EPS (USD) 0.90 11 14 2.62 -47 -44

Free Cash Flow 2 3,968 26 9,449 13

1. Continuing operations as defined on page 44 of the Condensed Interim Financial Report, excludes Alcon, includes the businesses of Innovative Medicines and Sandoz (including the US generic oral solids and dermatology portfolio), as well as the continuing corporate functions 2. Constant currencies (cc), core results and free cash flow are non-IFRS measures. An explanation of non-IFRS measures can be found on page 56 of the Condensed Interim Financial Report

23 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Continuing operations delivering core margin expansion of 1.4%pts cc vs. PY

Q3 2019 9M 2019

Core operating Net sales income 2 Core margin 2 Core margin 2 change vs. PY change vs. PY Core margin2 change vs. PY Core margin 2 change vs. PY (in % cc) (in % cc) (%) (%pts cc) (%) (%pts cc)

Innovative Medicines 15 16 34.1 0.4 34.3 2.2

Sandoz 5 18 24.8 2.8 21.8 1.6

1 Continuing Operations 13 18 30.8 1.4 30.4 2.4

1. Continuing operations as defined on page 44 of the Condensed Interim Financial Report, excludes Alcon, includes the businesses of Innovative Medicines and Sandoz (including the US generic oral solids and dermatology portfolio), as well as the continuing corporate functions 2. Constant currencies (cc), core results and free cash flow are non-IFRS measures. An explanation of non-IFRS measures can be found on page 56 of the Condensed Interim Financial Report

24 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation New focused medicines company 2019 FY guidance: sales and core operating income revised upwards

Barring unforeseen events (in cc)

New focused medicines company | full year guidance Excl. Alcon and Sandoz proposed US portfolio sale to Aurobindo1 from both 2018 and 2019; growth vs. PY in cc

Sales revised upwards expected to grow high single digit • IM Division revised upwards to grow high single digit to low double digit • Sandoz revised upwards to grow low single digit

Core operating income revised upwards expected to grow mid to high teens

Key Assumption: All guidance includes forecast assumption that no Gilenya® generics enter in 2019 in US.

1. Novartis continues to expect the previously-announced divestment of the Sandoz US oral solids and dermatology portfolio to be completed in the coming months, pending closing conditions including regulatory approvals. 2018 FY Sales and Core OpInc of the Sandoz US Oral solids and Dermatology businesses were approximately USD 1.2bn and 0.3bn, respectively.

25 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Core OpInc growth with continued strong underlying momentum; potential generic headwinds in Q4 2019

Key drivers of continuing operations core operating income vs. PY (cc)

9M 2019 Q4 2019 + Innovative Medicines growth drivers, + Innovative Medicines growth drivers launches uptake1 including Cosentyx®, Entresto® and + Productivity Zolgensma® − Potential increased Gx erosion2 + Productivity − Potential resolution of valsartan + Valsartan competitor supply competitor supply shortage shortage − Increased investments in pre-launch and launches

1. Including Zolgensma®, Mayzent®, Aimovig®, Piqray® 2. Mainly Afinitor ®, Exjade® / Jadenu® and Ophthalmology brands

26 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Expected currency impact for full year 2019 and 2020

Currency impact vs. PY %pts, assuming mid-October exchange rates prevail in 2019 and 2020 FX impact on FX impact on Net sales Core operating income

1 0 -1 to -2 -1 -1 -4 -3 -3 -3 -2 to -3 -5 -6 -5 -9 FY Q1 Q2 Q3 Q4 FY FY FY Q1 Q2 Q3 Q4 FY FY

2018 2019 2020 2018 2019 2020

Actual Simulation

27 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Vas Narasimhan Chief Executive Officer Conclusion

Excellent Q3 performance with double digit increases in top and bottom line, and margin expansion

Increased full year sales and core operating income guidance

Zolgensma® and Piqray® launches off to a strong start

Continuing innovation, notably ofatumumab’s remarkable efficacy in RMS

29 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Q&A Appendix Ofatumumab – high efficacy on key measures of disease activity ASCLEPIOS I ASCLEPIOS II

End point OMB. TER. RRRc p value OMB. TER. RRRc p value Annualized relapse rate 0.11 0.22 50.5% <0.001 0.1 0.25 58.5% <0.001 Gd+ T1 lesions per scan 0.01 0.45 97.5% <0.001 0.03 0.51 93.8% <0.001

New or enlarging T2 lesions per year 0.72 4.00 82.0% <0.001 0.64 4.15 84.5% <0.001

Serum NfL levels at month 3a 8.8 9.41 7%c 0.011 8.92 10.02 11%c <0.001

Brain volume lossb -0.28 -0.35 0.07 0.116 -0.29 -0.35 0.07 0.129

PRE-SPECIFICED COMBINED ANALYSIS OF ASCLEPIOS I & II End point OMB. TER. RRRc p value 3-month CDW* 10.9% 15.0% 34.4% 0.002 6-month CDW* 8.1% 12.0% 32.5% 0.012 6-month CDI 11.0% 8.1% -35.2% 0.094

*CDW, confirmed disability worsening and CDP, confirmed disability progression are interchangeable terms, defined by an increase ≥1.5 EDSS points for patients with baseline EDSS of 0, increase of ≥1.0 EDSS points patients with baseline EDSS of 1.0-5.0 and increase of t ≥0.5 EDSS points for patients with baseline EDSS of 5.5 a NfL levels at month three measured as adjusted geometric mean levels and difference is geometric mean ratio (GMR) b Brain volume loss is measured as difference in slope between 12 and 24 months, difference measured as adjusted mean difference in slope c RRR is relative risk reduction and in cases where it is different- highlighted in footnote; OMB = Ofatumumab; TER = Teriflunomide; CDI = Confirmed Disability Improvement.

32 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Net debt increased by USD 3.2bn driven by M&A transactions and share buybacks

USD billion -3.2

-16.2

0.2 -19.4

-6.6 2.9

-3.8

-5.3 9.4 Dec 31, 2018 Dividends M&A Treasury share Free Cash Flow1 Alcon Net debt2 Others Sep 30, 2019 transactions1 transactions, net

1. Continuing operations as defined on page 44 of the Condensed Interim Financial Report, excludes Alcon, includes the businesses of Innovative Medicines (including the Xiidra® acquisition for USD 3.5bn) and Sandoz (including the US generic oral solids and dermatology portfolio), as well as the continuing corporate functions 2. Includes the net de-recognition of USD 0.6bn cash and cash equivalents and USD 3.5bn of financial debts related to the Alcon spin-off

33 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation 9M 2019 free cash flow at USD 9.4bn

Continuing operations1 free cash flow2 USD billion

+13% Key drivers vs. PY: 9.4 + Higher operating income 8.3 (adjusted for non-cash items) − Higher working capital

Offsetting one-time effects: + Real estate divestment proceeds

− Prior year OTC JV dividend and GSK milestone income

9M 2018 9M 2019

1. Continuing operations as defined on page 44 of the Condensed Interim Financial Report, excludes Alcon, includes the businesses of Innovative Medicines and Sandoz (including the US generic oral solids and dermatology portfolio), as well as the continuing corporate functions 2. Free cash flow is a non-IFRS measure. Further details regarding non-IFRS measures can be found starting on page 56 of the Condensed Financial Report

34 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Planned filings 2019 to ≥ 2022

2019 2020 2021 2022 ≥ 2023 INC280 177Lu-PSMA-617 ABL001 ECF843 AVXS-201 QBW251 Cosentyx® NSCLC mCRPC CML 3rd line Dry eye Rett Syndrome COPD GCA Cosentyx® US PDR001 + Taf/Mek MBG453 ACZ885 CFZ533 SAF312 CFZ533 nr-axSpA Metastatic BRAF V600+ melanoma MDS Adjuvant NSCLC Solid Organ Transplant Chronic ocular surface pain Sjoegren’s Syndrome Entresto® QAW039 QGE031 Cosentyx® CSJ117 TQJ230 KAE609 Heart failure (PEF) Asthma CSU AS H2H Severe Asthma CVRR Severe Malaria OMB157 Cosentyx® ACZ885 Cosentyx® HDM201 UNR844 Kisqali ® Relapsing multiple sclerosis PsA H2H 1st Line NSCLC Hidradenitis suppurativa AML Presbyopia HR+, HER2 (-) BC9 (adjuvant) ® Xolair EU AVXS-101 IT ACZ885 Rydapt KAE609 VAY736 Kymriah ® + pembro Nasal Polyps SMA Type 2/3 2nd Line NSCLC AML (FLT3 wild type) Malaria Autoimmune Hepatitis r/r DLBCL10 BYL719 Entresto® KAF156 VPM087 LNP023 PIK3CA-related overgrowth spectrum Post-acute myocardial infarction Malaria CRC 1L/RCC 1L Membranous nephropathy Kymriah® LJC242 ZPL389 LNP023 Indication abbreviations: r/r Follicular Lymphoma NASH (+cen) Atopic dermatitis C3 glomerulopathy ALL Acute lymphoblastic leukemia AML Acute myeloid leukemia Kymriah® LJN452 ABL001 PDR001 combo AS H2H Ankylosing spondylitis head-to-head study versus r/r DLBCL in 1st relapse NASH CML 1st line Metastatic Melanoma adalimumab BC Breast cancer a ® CLL Chronic Lymphocytic Leukemia LAM320 LMI070 BYL719 (Piqray US) RTH258 Spinal muscular atrophy HNSCC 2/3L Retinal vein occlusion CML Chronic myeloid leukemia MDR tuberculosis CRC Colorectal cancer ® ® CSU Chronic spontaneous urticaria Beovu (RTH258) LNP023 BYL719 (Piqray US) RTH258 CVRR Secondary prevention of cardiovascular events in patients Diabetic macular edema IgA nephropathy HER2+ adv. breast cancer PDR with elevated levels of lipoprotein (a) GCA Giant cell arteritis Jakavi® LOU064 BYL719 (Piqray® US) VAY736 Chronic GVHD CSU TNBC2 Primary Sjoegren’s syndrome GVHD Graft-versus-host disease HNSCC Head and neck squamous cell carcinoma ® ® GP2411 (denosumab) Jakavi LXE408 BYL719 (Piqray US) Osteoporosis, skeletal-related in bone mCRPC Metastatic castration-resistant prostate cancer Visceral leishmaniosis Ovarian Cancer Acute GVHD met. pts (same as originator) MDR Multi-drug resistant PsA H2H Psoriatic arthritis head-to-head study versus adalimumab MDS Myelodysplastic syndrome MOR106 New molecule nAMD Neovascular (wet) age-related macular degeneration ROP Retinopathy of prematurity Atopic Dermatitis NASH Non-alcoholic steatohepatitis RCC Renal cell carcinoma New indication nr-axSpA Non-radiographic axial spondyloarthritis SAA Severe aplastic anemia Combination abbreviations: New formulation NSCLC Non-small cell lung cancer SMA Type 1 Spinal Muscular Atrophy Type 1 (IV formulation) Taf Tafinlar® (dabrafenib) PDR Proliferative Diabetic Retinopathy SMA Type Spinal Muscular Atrophy Type 2/3 (IT formulation) Biosimilars PEF Preserved ejection fraction 2/3 Mek Mekinist® (trametinib) SPMS Secondary Progressive Multiple Sclerosis cen cenicriviroc TNBC Triple negative breast cancer pembro pembrolizumab fulv fulvestrant 35 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Pipeline of key projects in confirmatory development

Early Clinical Trials Registration Trials – Phase III / Pivotal In Registration AVXS-201 LJN452 ZPL389 ABL001 BYL719 (Piqray® US) Jakavi® BAF312a EU (Mayzent™US) Rett Syndrome NASH Atopic dermatitis CML 3rd line HNSCC Chronic GVHD SPMS20 ® BYL719a (Piqray® US) CFZ533 LOU064 CFZ533 INC280 BYL719 (Piqray® US) Kisqali PIK3CA mutant HR+, HER2 (-) Solid Organ Transplant CSU Sjoegren’s Syndrome NSCLC Ovarian Cancer HR+, HER2(-) BC (adjuvant) postmenopausal adv BC5 2nd line (+fulv) CSJ117 LXE408 KAE609 177Lu-PSMA-617 BYL719 (Piqray® US) Kymriah® RTH258a EU (Beovu®) Severe Asthma Visceral leishmaniosis Severe Malaria mCRPC TNBC r/r Follicular Lymphoma nAMD6

ECF843 MBG453 Kymriah® + pembro PDR001 + Taf/Mek BYL719 Kymriah® SEG101 Dry eye MDS21 r/r DLBCL Metastatic BRAF V600+ melanoma PIK3CA-related overgrowth spectrum r/r DLBCL in 1st relapse Sickle cell disease HDM201 MOR106 LNP023 QGE031 Cosentyx® LAM320 Xiidra®a AML Atopic Dermatitis Membranous nephropathy CSU GCA MDR tuberculosis Dry eye KAE609 QBW251 LNP023 QAW039 Cosentyx® US OMB157 Zolgensma®a Malaria COPD C3 glomerulopathy Asthma nr-axSpA Relapsing multiple sclerosis SMA Type 123 KAF156 UNR844 PDR001 combo TQJ230 Cosentyx® RTH258 Cosentyx® EU Malaria Presbyopia Metastatic Melanoma CVRR PsA H2H Diabetic macular edema nr-axSpA LMI070 VAY736 VAY736 ABL001 Cosentyx® RTH258 Lucentis® Spinal muscular atrophy Autoimmune Hepatitis Primary Sjoegren’s syndrome CML 1st line AS H2H Retinal vein occlusion Diabetic retinopathy LJC242 SAF312 Zolgensma® ACZ885 Cosentyx® RTH258 Promacta®/Revolade® NASH (+cen) Chronic ocular surface pain SMA Type 2/3 Adjuvant NSCLC Hidradenitis suppurativa PDR SAA17 1st line ® LNP023 VPM087 ACZ885 Entresto Rydapt® QMF149 IgA nephropathy CRC 1L/RCC 1L 1st Line NSCLC Heart failure (PEF) AML (FLT3 wild type) Asthma ACZ885 Entresto® Xolair EU QVM149 nd Post-acute myocardial infarction Indication abbreviations: 2 Line NSCLC Nasal Polyps Asthma ALL Acute lymphoblastic leukemia GVHD Graft-versus-host disease ® GP2411 (denosumab)2 AML Acute myeloid leukemia HNSCC Head and neck squamous cell carcinoma BYL719 (Piqray® US) Jakavi Xolair US HER2+ adv. BC Acute GVHD Osteoporosis, skeletal-related in bone Nasal Polyps AS H2H Ankylosing spondylitis head-to-head mCRPC Metastatic castration-resistant prostate met. pts (same as originator) study versus adalimumab cancer LA-EP2006 (pegfilgrastim, US) BC Breast cancer MDR Multi-drug resistant PsA H2H Psoriatic arthritis head-to-head study a) Approved in US, submitted in EU. Chemotherapy-induced neutropenia and CLL Chronic Lymphocytic Leukemia MDS Myelodysplastic syndrome versus adalimumab others (same as originator) CML Chronic myeloid leukemia nAMD Neovascular (wet) age-related macular ROP Retinopathy of prematurity Combination abbreviations: CRC Colorectal cancer degeneration RCC Renal cell carcinoma CSU Chronic spontaneous urticaria NASH Non-alcoholic steatohepatitis SAA Severe aplastic anemia Taf Tafinlar® (dabrafenib) New molecule New formulation CVRR Secondary prevention of cardiovascular nr-axSpA Non-radiographic axial spondyloarthritis SMA Type 1 Spinal Muscular Atrophy Type 1 (IV Mek Mekinist® (trametinib) events in patients with elevated levels of NSCLC Non-small cell lung cancer formulation) cen cenicriviroc New indication Biosimilars lipoprotein (a) PDR Proliferative Diabetic Retinopathy SMA Type 2/3 Spinal Muscular Atrophy Type 2/3 (IT pembro pembrolizumab GCA Giant cell arteritis PEF Preserved ejection fraction formulation) fulv fulvestrant 36 SPMS Secondary Progressive Multiple Sclerosis | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation TNBC Triple negative breast cancer References

Slide No. Reference

Slide 8 - 1. Non-radiographic axial spondyloarthritis (nr-axSpA) and ankylosing spondylitis (AS) are part of the axial spondyloarthritis (axSpA) spectrum. Cosentyx® 2. DRG Epidemiology database - axSpA: release Dec’18; PsA: Nov’18; RA: Jan’19. Patients on biologics: PsA and AS - Calculated Patient equivalent based on IQVIA Midas volume Dec’18, Indication split IQVIA medical data Dec’18; nr-axSpA - DRG disease landscape forecast release Dec’18, RA: Corrona Study 2017; Reference for US data: Epidemiology - axSpA: DRG (Prevalence), Optiref Study (Diagnosis Rate), Jefferies (Treatment Rate) December 2018; PsA: Jefferies (Prevalence & Diagnosis Rate), Treatment Rate (Jefferies & DRG) December 2018. 3. Out of patients treated with systemics.

Slide 16 - 1. Largest trial performed in SPMS; KapposL et al. Siponimod vs. placebo in SPMS: double-blinded randomized, Ph3. The Lancet. 2018; DOI 10.1016/S0140-6736(18)30475-6 Mayzent® 2. Benedict et al. Effect of Siponimod on cognition in patients with SPMS: Ph3 EXPAND study subgroup analyses. AAN 2019. P2-051 3. Novartis QuickPulse HCP Tracker, reported by InCrowd Inc. fielded May 3-15, 2019 4. Spherix Global Insights RealTime Dynamix – MS Q219

37 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Clinical Trials Update Includes selected ongoing or recently concluded global trials of Novartis development programs/products which are in confirmatory development or marketed (typically Phase 2 or later). For further information on all Novartis clinical trials, please visit: www.novartisclinicaltrials.com Key changes vs. Q2 2019 presentation New trials added

Study Program Indication Phase Patients NCT03867201 DRAGON (CAMG334A2304) Aimovig® Migraine Phase 3 550 NCT03781414 CONTRAIL I (CCFZ533A2202) CFZ533 Kidney transplantation Phase 2 128 NCT03905525 TWINSS (CCFZ533B2201) CFZ533 Sjögren's syndrome Phase 2B 260 NCT03974100 (CGP24112301) GP2411 Osteoporosis Phase 3 522 NCT04097821 ADORE (CINC424H12201) Jakavi® Myelofibrosis Phase 1/2 130 NCT04072887 (CQBW251B2201) QBW251 Chronic obstructive pulmonary disease (COPD) Phase 2 900 NCT03802630 RAPTOR (CRTH258C2301) RTH258 Retinal vein occlusion Phase 3 500 NCT03810313 RAVEN (CRTH258C2302) RTH258 Retinal vein occlusion Phase 3 750 NCT03917472 (CRTH258B2305) RTH258 Diabetic macular edema Phase 3 500 NCT04058067 KINGLET (CRTH258B2304) RTH258 Diabetic macular edema Phase 3 268

Trials removed (operational decision-points achieved)

Study Program Indication Phase Patients NCT02565511 GENERATION S1 (CAPI015A2201J) CNP520 Alzheimer’s disease Phase 2B/3 1,340 NCT01544595 (CAIN457A2302E1 – extension study) Cosentyx® Psoriasis Phase 3 1,146 NCT02748863 ALLURE (CAIN457A2323) Cosentyx® Psoriasis Phase 3 214 NCT02826603 CLARITY (CAIN457A2326) Cosentyx® Psoriasis Phase 3B 1,102 NCT03512197 UNIFY (CPKC412E2301) Rydapt® Acute myeloid leukemia Phase 3 502

39 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Cardiovascular, Renal and Metabolic Entresto® - Angiotensin receptor neprilysin inhibitor (ARNI)

Study NCT02678312 PANORAMA HF (CLCZ696B2319) NCT03785405 (CLCZ696B2319E1 – extension study) Indication Heart failure in pediatric patients Heart failure in pediatric patients

Phase Phase 2/3 Phase 3

Patients 360 240 Part 1: Pharmacodynamics and pharmacokinetics of Primary Outcome Number of participants with Adverse Events (AEs) and sacubitril/valsartan LCZ696 analytes Measures Serious Adverse Events (SAEs) Part 2: Efficacy and safety compared with enalapril • Part 1: Sacubitril/valsartan 0.8 mg/kg or 3.1 mg/kg or both; 0.4 mg/kg or 1.6 mg/kg or both (single doses). • Part 2: enalapril/placebo 0.2 mg/kg bid (ped. formulation • Single arm, open label sacubitril/valsartan (pediatric 1mg/ml) and adult formulation (2.5, 5, 10 mg bid); formulation granules (12.5, 31.25 mg in capsules); liquid Arms/Intervention Sacubitril/valsartan (LCZ696)/placebo: Ped. formulation formulation (1mg/ml and 4mg/ml concentration) and granules (12.5, 31.25 mg in capsules); liquid formulation adult formulation (50, 100, 200 mg bid)) (1mg/ml and 4mg/ml concentration) and adult formulation (50, 100, 200 mg bid) Pediatric patients from 1 month to < 18 years of age with Pediatric patients with heart failure due to systemic left Target Patients heart failure due to systemic left ventricle systolic ventricle systolic dysfunction who have completed study dysfunction CLCZ696B2319 2021; (Analysis of 110 pts from Part 2 formed the basis for pediatric submission in Apr-2019 and approval by the US Expected Completion FDA in Oct-2019 for the treatment of symptomatic HF with 2022 systemic left ventricular systolic dysfunction in children aged 1 year and older) Publication TBD TBD

41 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Entresto® - Angiotensin receptor neprilysin inhibitor (ARNI) Study NCT02554890 PIONEER-HF (CLCZ696BUS01) NCT02661217 TRANSITION (CLCZ696B2401) Indication Heart failure, reduced ejection fraction Heart failure, reduced ejection fraction

Phase Phase 3B/4 Phase 4

Patients 881 1,002 Assessing the percentage of patients who achieve the target Primary Outcome Percentage change from baseline in N-terminal pro-brain dose of 200 mg bid LCZ696 at 10 weeks after Measures natriuretic peptide (NT-proBNP) randomization

• Sacubitril/valsartan (LCZ696) 24/26 mg, 49/51 mg or • Pre-discharge treatment initiation - LCZ696 (50, 100, 97/103 mg bid or matching placebo 200 mg bid) Arms/Intervention • Enalapril (2.5 mg, 5 mg, and 10 mg) bid or matching • Post-discharge treatment initiation - LCZ696 (50, 100, placebo 200 mg bid)

Patients with HFrEF (LVEF<40%) hospitalized for ADHF Heart failure patients with reduced ejection-fraction Target Patients and stable for more than 24 hours hospitalized for an acute decompensation event

Expected Completion Q3-2018 (actual) Q4-2018 (actual) • 28-May-2019 TRANSITION primary publication - • Mar-2019 ACC: 4wk OLE data, and core study data on published EJHF biomarkers, de novo HF, hospitalizations, & prior • Secondary data presentations: de novo HF and exposure ACEi/ARB naive sub-groups presented at ESC-HF Publication • Apr-2019 Circulation: Research letter on composite Congress in May 2019 and submitted to EJHF in Jun- endpoint (Circulation. 2019;139:00–00) 2019 (expected publication Q3-2019) • Q3-2019 ESC: Secondary abstracts submitted • Planned in Q4-2019: 26-weeks data presentation at • Planned in Q1-2020: RAAS naive and de novo HF ESC-2019 in Paris

42 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Entresto® - Angiotensin receptor neprilysin inhibitor (ARNI)

Study NCT02884206 PERSPECTIVE (CLCZ696B2320) NCT02468232 PARALLEL-HF (CLCZ696B1301) Indication Heart failure Heart failure, reduced ejection fraction

Phase Phase 3 Phase 3

Patients 592 225 Time to the first occurrence of the composite endpoint - Primary Outcome Change from baseline in the CogState Global Cognitive either cardiovascular (CV) death or heart failure (HF) Measures Composite Score (GCCS) hospitalization • Sacubitril/valsartan 50, 100, and 200 mg bid with • Sacubitril/valsartan 50 mg, 100 mg, 200 mg bid/placebo placebo of valsartan of enalapril Arms/Intervention • Valsartan 40, 80, and 160 mg bid tablets with placebo • Enalapril 2.5 mg, 5 mg, 10 mg bid / placebo of for sacubitril/valsartan sacubitril/valsartan

Patients with chronic heart failure with preserved ejection Japanese heart failure patients (NYHA Class II-IV) with Target Patients fraction reduced ejection fraction

Expected Completion 2022 Q1-2019 (actual); H2-2020 (open-label extension) Planned in H1-2020: Core study primary manuscript in Circ Publication TBD J

43 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Entresto® - Angiotensin receptor neprilysin inhibitor (ARNI)

Study NCT01920711 PARAGON-HF (CLCZ696D2301) NCT03066804 PARALLAX (CLCZ696D2302) Indication Heart failure, preserved ejection fraction Heart failure, preserved ejection fraction Phase Phase 3 Phase 3 Patients 4,822 2,577

Cumulative number of primary composite events of Change in NT-proBNP from baseline to week 12 Primary Outcome cardiovascular (CV) death and total (first and recurrent) HF and change in 6 minute walk distance (6MWD) from Measures hospitalizations baseline to Week 24

• Sacubitril/valsartan 50 mg, 100 mg and 200 mg bid and matching placebo • Sacubitril/valsartan or placebo 50 mg, 100 mg, and 200 • Enalapril 2.5 mg, 5 mg and 10 mg bid and matching Arms/Intervention mg bid placebo • Valsartan or placebo 40 mg, 80 mg, and 160 mg bid • Valsartan 40 mg, 80 mg, 160 mg bid and matching placebo

Heart failure patients (NYHA Class II-IV) with preserved Heart failure patients (NYHA Class II-IV) with preserved Target Patients ejection fraction ejection fraction

Expected Completion Q3-2019 (actual) Q4-2019 • Sep-2019: Primary manuscript published (Angiotensin– Neprilysin Inhibition in Heart Failure with Preserved Ejection Fraction. Solomon S et al; NEJM. DOI: Publication TBD 10.1056/NEJMoa1908655) • Sep-2019: ESC: Late breaker presentation of primary results

44 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Entresto® - Angiotensin receptor neprilysin inhibitor (ARNI)

Study NCT03909295 (CLCZ696D1301E1 – extension study) NCT02924727 PARADISE-MI (CLCZ696G2301) Indication Heart failure chronic Post-acute myocardial infarction Phase Phase 3 Phase 3 Patients 63 5,650

Time to the first occurrence of a confirmed composite Primary Outcome Number of participants with Adverse Events (AEs) and endpoint (cardiovascular (CV) death, heart failure (HF) Measures Serious Adverse Events (SAEs) hospitalization, or outpatient heart failure)

• Sacubitril/valsartan 50 mg, 100 mg, 200 mg bid / placebo • Sacubitril/valsartan 50 mg,100 mg,200 mg film coated of ramipril/valsartan Arms/Intervention tablets • Ramipril 1.25 mg, 2.5 mg, and 5 mg bid / placebo of sacubitril/valsartan / placebo for valsartan

Japanese heart failure patients (NYHA Class II-IV) with Post-AMI patients with evidence of LV systolic dysfunction Target Patients preserved ejection fraction after CLCZ696D2301 and/or pulmonary congestion, with no known prior history of (PARAGON-HF) chronic HF

Expected Completion 2021 H2-2020 Publication TBD TBD

45 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Immunology, Hepatology & Dermatology CFZ533 – Blocking, non-depleting, Fc-silent, anti-CD40 monoclonal antibody

Study NCT03663335 (CCFZ533A2201) NCT03905525 TWINSS (CCFZ533B2201)

Indication Kidney transplantation Sjögren's syndrome

Phase Phase 2B Phase 2B

Patients 325 260

Composite event (BPAR, Graft Loss or Death) over 12 Change in EULAR Sjögren’s syndrome Disease Activity Primary Outcome months post-transplantation and post conversion (for Index (ESSDAI) score and EULAR Sjögren’s syndrome Measures maintenance cohort) Patient Reported Index (ESSPRI) score • CFZ533 doses + MMF + corticosteroids • CFZ533 doses Arms/Intervention • Control/Standard of Care: TAC + MMF + corticosteroids • Placebo Target Patients Kidney transplant recipients Patients with Sjögren's syndrome

Expected Completion 2021 2022

Publication TBD TBD

47 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation CFZ533 – Blocking, non-depleting, Fc-silent, anti-CD40 monoclonal antibody

Study NCT03781414 CONTRAIL I (CCFZ533A2202)

Indication Kidney transplantation

Phase Phase 2

Patients 128

Primary Outcome Proportion of patients with composite event (BPAR, Graft Measures Loss or Death) over 12 months

• Control/Standard of Care: TAC + MMF + Corticosteroids Arms/Intervention • CFZ533 dose A + MMF + Corticosteroids • CFZ533 dose B + MMF + Corticosteroids Target Patients Liver transplant recipients

Expected Completion 2022

Publication TBD

48 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Cosentyx® - Anti IL-17

Study NCT03504852 (CAIN457A2324) NCT03589885 MATURE (CAIN457A2325) Indication Psoriasis Psoriasis Phase Phase 3B Phase 3 Patients 331 122

Primary Outcome PASI 90 response and IGA mod 2011 0 or 1 response after PASI 75 response and IGA mod 2011 0 or 1 response after Measures 16 weeks of treatment 12 weeks of treatment

• Secukinumab 300 mg every 2 weeks after weekly doses • Secukinumab 2 mL (300 mg) auto-injector till Week 4 • Secukinumab 2 x 1 mL (150 mg each) prefilled syringe Arms/Intervention • Secukinumab 300 mg every 4 weeks after weekly doses • Placebo 2 mL auto-injector till Week 4 • Placebo 2 x 1 mL prefilled syringe

Target Patients Subjects (≥90kg) with moderate to severe plaque psoriasis Subjects with moderate to severe plaque psoriasis

Expected Completion H2-2020 H2-2020

Publication TBD TBD

49 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Cosentyx® - Anti IL-17

Study NCT02471144 (CAIN457A2310) NCT03668613 (CAIN457A2311) Indication Psoriasis Psoriasis Phase Phase 3 Phase 3 Patients 162 84 Psoriasis Area and Severity Index (PASI) 75 response and Psoriasis Area and Severity Index (PASI) 75 response and Primary Outcome Investigators' Global Assessment (IGA) 0 or 1 response at Investigators' Global Assessment (IGA) 0 or 1 response at Measures week 12 week 12

• Secukinumab low dose • Secukinumab high dose • Secukinumab low dose Arms/Intervention • Placebo • Secukinumab high dose • Etanercept (comparator)

Patients from 6 to less than 18 years of age with severe Pediatric patients of age 6 to <18 years, with moderate to Target Patients chronic plaque psoriasis severe plaque psoriasis Expected Completion 2023 2023

Publication TBD TBD

50 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Cosentyx® - Anti IL-17

Study NCT03066609 (CAIN457A2318) Indication Psoriasis

Phase Phase 3

Patients 543 Psoriasis Area and Severity Index (PASI) 75 response and Primary Outcome Investigators' Global Assessment (IGA) 0 or 1 response at Measures week 12

• Secukinumab 300 mg Arms/Intervention • Secukinumab 150 mg • Placebo

Patients with moderate to severe chronic plaque-type Target Patients psoriasis with or without psoriatic arthritis comorbidity

Expected Completion Q1-2019 (actual) • Week 16 results: Poster presented at: 2019 American Academy of Dermatology (AAD) Annual Meeting, Publication • March 1–5, 2019, Washington, D.C. • 52-week results: Poster at EADV 2019, Madrid 9-13 October, 2019

51 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Cosentyx® - Anti IL-17

Study NCT03031782 (CAIN457F2304) NCT03769168 (CAIN457F2304E1 – extension study) Indication Psoriatic arthritis Psoriatic arthritis Phase Phase 3 Phase 3 Patients 80 64

Primary Outcome Time to 33 flares Number of participants with JIA ACR30 response Measures

• Secukinumab (pre-filled syringe) 75 mg • Secukinumab 75 mg/0.5 ml Arms/Intervention • Placebo • Secukinumab 150 mg/1.0 ml

Juvenile idiopathic arthritis subtypes of psoriatic and Patients with juvenile idiopathic arthritis subtypes of juvenile Target Patients enthesitis-related arthritis psoriatic arthritis and enthesitis related arthritis Expected Completion 2021 2025

Publication TBD TBD

52 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Cosentyx® - Anti IL-17

Study NCT01892436 FUTURE 1 extension (CAIN457F2306E1) NCT01649375 MEASURE 2 (CAIN457F2310) Indication Psoriatic arthritis Ankylosing spondylitis Phase Phase 3 Phase 3 Patients 460 219 Proportion of subjects that have a positive clinical response Primary Outcome Assessment of SpondyloArthritis International Society / to treatment (individual improvement) in disease activity Measures ASAS 20 response according to ACR20 (or ACR50 or ACR 70)

• Secukinumab 75 mg • Secukinumab 75 mg Arms/Intervention • Secukinumab 150 mg • Secukinumab 150 mg • Placebo

Target Patients Patients with active psoriatic arthritis Patients with active ankylosing spondylitis Expected Completion Q1-2018 (actual) Q4-2018 (actual) • Primary 52 week results: Baeten D & Sieper J, et al. N Engl J Med 2015;373:2534–48 • 3 year results: ACR 2016; Mease PJ et al. Arthritis • 2 year results: Marzo-Ortega, et al. Arthritis Care Res Rheumatol. 2016; 68 (suppl 10) 2017 Feb 24. doi: - 10.1002/acr.23233 • 3 years results: Manuscript published in September • 3 year results: Marzo-Ortega, et al. RMD 2017 Publication 2018 (Mease PJ, et al. RMD Open 2018;4:e000723. • 5 year results: EULAR 2019; Marzo-Ortega H, et al. doi:10.1136/rmdopen-2018-000723) FRI0379. Annals of the Rheumatic Diseases • 5 year results: accepted for publication in ACR open 2019;78:873. Rheumatology in September 2019 • 5 year results; manuscript target submission Oct 2019

53 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Cosentyx® - Anti IL-17

Study NCT01752634 FUTURE 2 (CAIN457F2312) NCT02008916 MEASURE 3 (CAIN457F2314) Indication Psoriatic arthritis Ankylosing spondylitis Phase Phase 3 Phase 3 Patients 399 222

Primary Outcome Proportion of subjects achieving American College of Assessment of Spondyloarthritis International Society Measures Rheumatology 20 (ACR20) response criteria criteria / ASAS 20 response

• Secukinumab (AIN457) 150 mg s.c. • Secukinumab 10 mg/kg / 300 mg • Secukinumab (AIN457) 75 mg s.c. Arms/Intervention • Secukinumab 10 mg/kg / 150 mg • Secukinumab (AIN457) 300 mg s.c. • Placebo • Placebo s.c.

Target Patients Patients with active psoriatic arthritis Patients with active ankylosing spondylitis Expected Completion Q1-2019 (actual) Q1-2018 (actual) • 16 weeks results: PANLAR congress in Apr-2016 • Primary results: McInnes IB, et al. Lancet. • 52 weeks results: Pavelka et al. Arthritis Research & 2015;386:1137–46 Therapy 2017 • 2 years results: McInnes et al, Rheumatology • 2 year results: Presented at ACR in Nov-2017 Publication 2017;56:1993-2003 • 3 year (EOS) results: To be presented (ORAL) at • 5 year (EOS) manuscript ongoing; to be submitted in PANLAR April 2019 Oct-2019 • 3 year (EOS) manuscript submitted in May-2019; awaiting journal decision

54 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Cosentyx® - Anti IL-17

Study NCT01989468 FUTURE 3 (CAIN457F2318) NCT02159053 MEASURE 4 (CAIN457F2320) Indication Psoriatic arthritis Ankylosing spondylitis Phase Phase 3 Phase 3 Patients 416 350

Primary Outcome American College of Rheumatology 20 (ACR20) response in Assessment of Spondyloarthritis International Society Measures subjects treated with secukinumab vs. placebo criteria / ASAS 20 at week 16

• Secukinumab (AIN457) 150 mg s.c. • Secukinumab 150 mg s.c. with loading Arms/Intervention • Secukinumab (AIN457) 300 mg s.c. • Secukinumab 150 mg s.c. without loading • Placebo • Placebo

Target Patients Patients with active psoriatic arthritis Patients with active ankylosing spondylitis Expected Completion Q2-2018 (actual) Q2-2018 (actual)

52 week results: Nash et al, Arthritis Research & Therapy • Week 104 (EOS) manuscript: Kivitz et al, Rheumatol Publication 2018, 20:47 Ther https://doi.org/10.1007/s40744-018-0123-5

55 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Cosentyx® - Anti IL-17

Study NCT02294227 FUTURE 4 (CAIN457F2336) NCT02404350 FUTURE 5 (CAIN457F2342) Indication Psoriatic arthritis Psoriatic arthritis Phase Phase 3 Phase 3 Patients 342 990

Primary Outcome Assessment of American College of Rheumatology 20 American College of Rheumatology 20 (ACR20) response at Measures (ACR20) Week 16

• Secukinumab 150 mg load • Secukinumab 150 mg with loading • Secukinumab 150 mg no load Arms/Intervention • Secukinumab 150 mg without loading • Secukinumab 300 mg load • Placebo • Placebo

Target Patients Patients with active psoriatic arthritis Patients with active psoriatic arthritis Expected Completion Q1-2018 (actual) Q1-2019 (actual) • 24 week results published: Mease P, et al. Annals of the • 52 week results: abstract presented at PANLAR Rheumatic Diseases 2018;77:890-897. congress (Apr-2018) • 52 week results presented at EULAR and ACR 2018 Publication • 2 year (EOS) results published: Rheumatology • 52 week manuscript accepted (Rheumatology, October Therapy. 2019 Jun 21. doi: 10.1007/s40744-019-0163-5. 2019, in press) • 2 year (EOS) results presented at EULAR 2019

56 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Cosentyx® - Anti IL-17

Study NCT01863732 (CAIN457F2305E1 – extension study) NCT02745080 EXCEED (CAIN457F2366) Indication Ankylosing spondylitis Psoriatic arthritis Phase Phase 3 Phase 3 Patients 300 850

Primary Outcome Assessment of spondyloarthritis international society criteria American College of Rheumatology 20 (ACR20) response Measures / ASAS 20 response

• Secukinumab 75 mg in PFS • Secukinumab 300 mg s.c. Arms/Intervention • Secukinumab 150 mg in PFS • Adalimumab 40 mg s.c.

Target Patients Patients with active ankylosing spondylitis Patients with active psoriatic arthritis Expected Completion Q2-2018 (actual) H1-2020 • 3-year results: Manuscript published in Clinical and Experimental Rheumatology in May-2017 • 4-year results: Presented at ACR in Nov-2017 • 4 year results manuscript published; Rheumatology, Publication Volume 58, Issue 5, May 2019, Pages 859–868, • Manuscript target submission January 2020 • 5 year (EOS) results manuscript published; Baraliakos X, et al. RMD Open 2019;5:e001005. doi: 10.1136/rmdopen-2019-001005

57 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Cosentyx® - Anti IL-17

Study NCT02696031 PREVENT (CAIN457H2315) NCT03259074 SURPASS (CAIN457K2340)

Indication Non-radiographic axial spondyloarthritis Ankylosing spondylitis

Phase Phase 3 Phase 3

Patients 555 837 The proportion of participants who achieved an ASAS 40 No radiographic structural progression as measured by Primary Outcome response (Assessment of SpondyloArthritis International modified Stoke Ankylosing Spondylitis Spine Score Measures Society criteria); (mSASSS) • Secukinumab 150 mg load • Secukinumab 150/300 mg Arms/Intervention • Secukinumab 150 mg no load • Adalimumab biosimilar 40 mg • Placebo

Target Patients Patients with non-radiographic axial spondyloarthritis Patients with active ankylosing spondylitis

Expected Completion Week 52: Q3-2019 (actual); Final: 2021 2022 • Abstract (16 week results) submitted as a late breaker to Publication ACR 2019 TBD • Manuscript target submission Jan-2020

58 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Cosentyx® - Anti IL-17

Study NCT03713619 SUNSHINE (CAIN457M2301) NCT03713632 SUNRISE (CAIN457M2302)

Indication Hidradenitis Suppurativa (HS) Hidradenitis Suppurativa (HS)

Phase Phase 3 Phase 3

Patients 471 471

Primary Outcome Proportion of participants with Hidradenitis Suppurativa Proportion of patients with Hidradenitis Suppurativa Clinical Measures clinical response (HiSCR) Response (HiSCR)

• Secukinumab 300 mg every 2 weeks • Secukinumab 300 mg every 2 weeks • Secukinumab 300 mg every 4 weeks • Secukinumab 300 mg every 4 weeks Arms/Intervention • Placebo (every 2 weeks) • Placebo (every 2 weeks) • Placebo (every 4 weeks) • Placebo (every 4 weeks) Target Patients Subjects with moderate to severe Hidradenitis Suppurativa Subjects with moderate to severe Hidradenitis Suppurativa

Expected Completion 2022 2022

Publication Preliminary results in EADV (most likely) in 2021 Preliminary results in EADV (most likely) in 2021

59 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Ilaris® - Anti IL-1β

Study NCT02059291 CLUSTER (CACZ885N2301) NCT02296424 (CACZ885G2306) Indication Hereditary periodic fevers SJIA - Systemic Juvenile Idiopathic Arthritis Phase Phase 3 Phase 3B/4 Patients 203 182 Proportion of patients in clinical remission on canakinumab Primary Outcome To demonstrate significant reduction of disease activity who are able to remain in remission following canakinumab Measures with canakinumab vs. placebo dose tapering (reduced canakinumab dose or prolonged canakinumab dosing interval) • Canakinumab • Canakinumab dose reduction Arms/Intervention • Placebo • Canakinumab dose interval prolongation Patients with, 3 separate disease cohorts TRAPS, HIDS, Patients with Systemic Juvenile Idiopathic Arthritis (SJIA) Target Patients and colchicine resistant FMF (Hereditary periodic fevers ) (Pediatric) Expected Completion 2017 (actual) 2018 (actual)

• QoL overall presented at EULAR in Q2-2019 and will • Remission & flexible dosing – presented at ISSAID & be presented at ACR in Q4-2019 EULAR in Q2-2019 Publication • Planned manuscripts: QoL overall to be submitted in • Planned manuscript in 2019: Remission & flexible dosing to Q4-2019 and crFMF efficacy & safety in Q2-2020 be submitted in Q4-2019

60 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation LJN452 - FXR Agonist

Study NCT02855164 (CLJN452A2202)

Indication Non-alcoholic steatohepatitis

Phase Phase 2

Patients 345 Adverse event profile of different doses; determine the dose relationship of LJN452 on markers of hepatic inflammation Primary Outcome in NASH (ALT and AST); determine dose-response Measures relationship of LJN452 on liver fat content by changes in quantitative MRI; determine effect of LJN452 on liver fibrosis by biopsy Arms/Intervention Multiple LJN452 doses and placebo

Target Patients Patients with non-alcoholic steatohepatitis (NASH)

Expected Completion H1-2020 • Primary (interim) data abstract submitted to AASLD in Publication Q3-2019 • Manuscript to be submitted in H2-2020

61 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation LOU064 – Bruton's tyrosine kinase (BTK) inhibitor

Study NCT03926611 (CLOU064A2201)

Indication Chronic spontaneous urticaria (CSU)

Phase Phase 2

Patients 308

Primary Outcome Change from baseline in weekly Urticaria Activity Score (UAS7) at Week 4 Measures

• LOU064 Arm 1 Low dose of LOU064 orally in the morning (once daily) and matching placebo in the evening from Day 1 to 85 • LOU064 Arm 2 Medium dose of LOU064 orally in the morning (once daily) and matching placebo in the evening from Day 1 to 85 • LOU064 Arm 3 High dose of LOU064 orally in the morning (once daily) and Arms/Intervention matching placebo in the evening from Day 1 to 85 • LOU064 Arm 4 Low dose of LOU064 orally, twice daily from Day 1 to 85 • LOU064 Arm 5 Medium dose of LOU064 orally, twice daily from Day 1 to 85 • LOU064 Arm 6 High dose of LOU064 orally, twice daily from Day 1 to 85 • Placebo arm Matching placebo, orally, twice daily from Day 1 to 85 Target Patients Adults with CSU inadequately controlled by H1-antihistamines

Expected Completion 2020

Publication TBD

62 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation LJC242 - FXR agonist + CCR2/CCR5 inhibitor

Study NCT03517540 TANDEM (CLJC242A2201J)

Indication Non-alcoholic steatohepatitis

Phase Phase 2

Patients 200

• Evaluation of safety and tolerability of combination Primary Outcome therapy (tropifexor + cenicriviroc) by monitoring adverse Measures event profile, vital signs and laboratory parameters

• Tropifexor Arms/Intervention • Cenicriviroc • Tropifexor + cenicriviroc Adult patients with non-alcoholic steatohepatitis (NASH) and Target Patients liver fibrosis Expected Completion H2-2020

Publication Manuscript to be submitted in H1-2021

63 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation QGE031 - Anti-IgE Study NCT02477332 (CQGE031C2201) NCT02649218 (CQGE031C2201E1)

Indication Chronic spontaneous urticaria / Chronic idiopathic urticaria Chronic spontaneous urticaria / Chronic idiopathic urticaria

Phase Phase 2B Phase 2B

Patients 382 226

Establish dose-response relationship of QGE031 with Primary Outcome Long-term safety; number of participants with treatment- respect to achievement of complete hives response at week Measures emergent adverse events 12 • Ligelizumab 24mg q4wks for 20 weeks • Ligelizumab 72mg q4wks for 20 weeks • Ligelizumab 240mg q4wks for 20 weeks Arms/Intervention Ligelizumab 240 mg q4wks open label for 52 weeks • Ligelizumab 120mg single dose • Omalizumab 300mg q4wks for 20 weeks • Placebo q 4wks for 20 weeks

Adult patients with chronic spontaneous urticaria Adult patients with chronic spontaneous urticaria inadequately controlled with H -antihistamines at approved inadequately controlled with H -antihistamines at approved Target Patients 1 1 or increased doses, alone or in combination with H2- or increased doses, alone or in combination with H2- antihistamines or leukotriene receptor antagonists. antihistamines or leukotriene receptor antagonists.

Expected Completion 2017 (actual) Q3-2019 (actual) • Primary results: Presented at EAACI 2018, EADV 2018, • Primary results: AAD 2019; and GUF 2018; NEJM publication (Oct. 3rd); • Secondary results presented in 2019 at: AAD, EAACI, Publication • Secondary results presented in 2019 at: AAD, EAACI, WCD, EADV, PAAM, ACAAI, UCARE; manuscript WCD, EADV, PAAM, ACAAI, UCARE. planned in H1/2020 64 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation QGE031 - Anti-IgE

Study NCT03437278 (CQGE031C2202)

Indication Chronic spontaneous urticarial / Chronic idiopathic urticaria

Phase Phase 2

Patients 48

Primary Outcome Change in the 7 day Urticaria Activity Score (UAS7) Measures

• Ligelizumab high dose q4wks for 24 weeks Arms/Intervention • Ligelizumab low dose q4wks for 24 weeks • Placebo / ligelizumab high dose q4wks for 8 / 16 weeks Adolescents from 12 to <18 years of age, with chronic Target Patients spontaneous urticaria Expected Completion H2-2021 • Study design to be presented at PAAM 2019, Publication • Manuscript to be submitted in 2022

65 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation QGE031 - Anti-IgE

Study NCT03580369 Pearl 1 (CQGE031C2302) NCT03580356 Pearl 2 (CQGE031C2303)

Indication Chronic spontaneous urticaria Chronic spontaneous urticaria

Phase Phase 3 Phase 3

Patients 1,050 1,050

Primary Outcome Absolute change from baseline in UAS7 (Urticaria Activity Absolute change from baseline in UAS7 (Urticaria Activity Measures Score) at week 12 Score) at week 12

• Ligelizumab dose A q4w for 52 weeks • Ligelizumab dose A q4w for 52 weeks • Ligelizumab dose B q4w for 52 weeks • Ligelizumab dose B q4w for 52 weeks Arms/Intervention • Omalizumab 300 mg q4w for 52 weeks • Omalizumab 300 mg q4w for 52 weeks • Placebo q4w from randomization to wk20, then • Placebo q4w from randomization to wk20, then ligelizumab dose B from wk24 to wk52 ligelizumab dose B from wk24 to wk52 Adolescents and adults with chronic spontaneous urticaria Adolescents and adults with chronic spontaneous urticaria Target Patients inadequately controlled with H1-antihistamines inadequately controlled with H1-antihistamines Expected Completion 2021 2021 • Study design presented at UCARE 2018 • Study design presented at UCARE 2018 Publication • Manuscript to be submitted in 2022 • Manuscript to be submitted in 2022

66 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation VAY736 – Fully human IgG1/κ anti-BAFF-R mAb

Study NCT02962895 (CVAY736A2201) NCT03217422 AMBER (CVAY736B2201)

Indication Primary Sjögren's syndrome Autoimmune hepatitis

Phase Phase 2B Phase 2/3

Patients 180 80

Primary Outcome Safety and efficacy of VAY736 in primary Sjögren's Alanine aminotransferase (ALT) normalization Measures syndrome (pSS)

• VAY736 • VAY736 Arms/Intervention • Placebo • Placebo control with conversion to active VAY736 Patients with moderate to severe primary Sjögren's Autoimmune hepatitis patients with incomplete response or Target Patients syndrome (pSS) intolerant to standard treatment of care Expected Completion H2-2020 2023 • Late Breaking Abstract to be submitted to American Publication College of Rheumatology 30-Sep-2019 TBD • Manuscript to be submitted in 2020

67 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation ZPL389 - H4 receptor antagonist

NCT03948334 ZESTExt (CZPL389A2203E1 – extension Study NCT03517566 ZEST (CZPL389A2203) study)

Indication Atopic dermatitis Atopic dermatitis

Phase Phase 2 Phase 2

Patients 360 360

Primary Outcome Frequency of Adverse Events (AEs) and Serious Adverse IGA (Investigator's global assessment) response at week 16 Measures Events (SAEs)

• ZPL389 dose 1 • ZPL389 Dose 1 + Topical Corticosteroids (TCS) and /or • ZPL389 dose 2 Topical Calcineurin Inhibitors (TCI) Arms/Intervention • ZPL389 dose 3 • ZPL389 Dose 2 + Topical Corticosteroids (TCS) and /or • ZPL389 dose 4 Topical Calcineurin Inhibitors (TCI) • Placebo Target Patients Patients with moderate to severe atopic dermatitis Adult patients with atopic dermatitis

Expected Completion H1-2021 2022

Publication TBD TBD

68 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Neuroscience Zolgensma® - SMN1 gene replacement therapy

Study NCT03461289 STRIVE-EU (CL-302) NCT03306277 STRIVE (CL-303) Indication Type 1 spinal muscular atrophy Type 1 spinal muscular atrophy

Phase Phase 3 Phase 3

Patients 30 20

• Achievement of independent sitting for at least 30 Primary Outcome Proportion of participants sitting without support seconds Measures • Event-free survival

Arms/Intervention Open-label, single-arm, single-dose, intravenous Open-label, single-arm, single-dose, intravenous

Target Patients Patients with spinal muscular atrophy Type 1 Patients with Spinal Muscular Atrophy Type 1

Expected Completion H2-2020 Q4-2019

Publication TBD TBD

70 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Zolgensma® - SMN1 gene replacement therapy

Study NCT03505099 SPR1NT (CL-304) NCT03837184 STRIVE Asia Pacific (CL-306) Indication Spinal muscular atrophy Type 1 spinal muscular atrophy

Phase Phase 3 Phase 3

Patients 27 6 • Percentage of participants achieving functional Primary Outcome independent sitting for at least 30 seconds at any visit Proportion of participants sitting without support Measures • Percentage of participants achieving the ability to stand without support for at least 3 seconds at any visit

Arms/Intervention Open-label, single-arm, single-dose, intravenous Open-label, single-arm, single-dose, intravenous

Pre-symptomatic patients with spinal muscular atrophy and Target Patients Patients with spinal muscular atrophy Type 1 multiple copies SMN2 Expected Completion 2021 2021

Publication TBD TBD

71 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Zolgensma® - SMN1 gene replacement therapy

Study NCT03381729 STRONG (CL-102) Indication Type 2 spinal muscular atrophy

Phase Phase 1

Patients 27

• Safety and tolerability, incidence of adverse events Primary Outcome • Proportion of patients achieving Standing Milestone Measures • Change in Hammersmith Functional Motor Scale

Arms/Intervention Open-label, single-arm, single-dose, intrathecal

Target Patients Patients with spinal muscular atrophy with 3 copies of SMN2

Expected Completion Q4-2019

Publication TBD

72 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Aimovig® – CGRP receptor antagonist

Study NCT03096834 LIBERTY (CAMG334A2301) NCT03333109 EMPOWER (CAMG334A2302) Indication Migraine Migraine

Phase Phase 3 Phase 3

Patients 246 880

Primary Outcome Percentage of patients with a 50% response in the reduction Change from baseline in monthly migraine days at the last Measures of Monthly Migraine Days (MMD) month (Month 3) of the double-blind treatment period

• AMG334 (erenumab) Dose 1 • Subcutaneous injection of AMG334 (erenumab) Arms/Intervention • AMG334 (erenumab) Dose 2 • Subcutaneous injection of placebo • Placebo

Adult episodic migraine patients who have failed prophylactic Target Patients Adult episodic migraine patients migraine treatments

Expected Completion 2017 DBT phase (actual); 2021 OLE phase H2-2020 • Planned for Q4-2019 - PROs and prespecified subgroup analysis (double blind phase) Publication Planned for H2-2020 • Planned for Q1-2020: 1Y OLE • Planned for Q4 2020: 2Y OLE

73 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Aimovig® – CGRP receptor antagonist

Study NCT03867201 DRAGON (CAMG334A2304) Indication Migraine

Phase Phase 3

Patients 550

Primary Outcome Change from baseline in monthly migraine days during the Measures last 4 weeks of the 12-week treatment period

• Subcutaneous injection of AMG334 (erenumab) 70 mg Arms/Intervention • Subcutaneous injection of placebo

Target Patients Adult chronic migraine patients

Expected Completion 2022 DBT phase; 2024 OLE phase

Publication Planned in Q4-2023 (DBT)

74 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Gilenya® - S1P-R modulator

Study NCT01633112 ASSESS (CFTY720D2312) NCT01201356 LONGTERMS (CFTY720D2399)

Indication Relapsing remitting multiple sclerosis (RRMS) Relapsing multiple sclerosis (RMS)

Phase Phase 3B Phase 3

Patients 1,064 4,125 Comparison of 2 doses (0.25 mg and 0.5 mg) of fingolimod Primary Outcome to glatiramer acetate (20 mg) in reducing the annualized Long-term safety and tolerability Measures relapse rate up to 12 months • Fingolimod 0.5 mg orally Arms/Intervention • Fingolimod 0.25mg orally Single-arm study of fingolimod 0.5 mg/day • Copaxone® 20 mg s.c.

Target Patients Patients with relapsing-remitting multiple sclerosis Patients with relapsing multiple sclerosis

Expected Completion 2018 (actual) 2018 (actual) • Primary data presentation: Cohen J, et al presented at ECTRIMS 2017 • Primary data presentation at AAN in 2019 Publication • Primary manuscript accepted by Therapeutic Advances • Primary manuscript – submission planned in Q4-2019 in Neurological Disorders (estimated publication Oct- 2019)

75 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation LMI070 - SMN2 RNA splice modulator

Study NCT02268552 (CLMI070X2201)

Indication Type 1 spinal muscular atrophy

Phase Phase 1/2

Patients 39

Primary Outcome Number of participants with adverse events (AEs), serious Measures adverse events (SAEs) and deaths

Branaplam oral, once weekly: • Part 1: 5 ascending doses Arms/Intervention • Part 2: 2 different dose levels • Part 3: patients continue on initial dose assigned in Part 1 or Part 2 Patients with type 1 spinal muscular atrophy Target Patients

Expected Completion H2-2020

Publication TBD

76 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Mayzent ® - S1P-R modulator

Study NCT01665144 -EXPAND (CBAF312A2304) Indication Secondary progressive multiple sclerosis Phase Phase 3 Patients 1,652

The delay in time to confirmed disability progression as Primary Outcome Measures measured by EDSS (Expanded Disability Status Scale)

• BAF312 (5-day titration: 0.25mg to 1.25mg; Maintenance Arms/Intervention dose: 2mg (day 6)) • Placebo

Target Patients Patients with secondary progressive multiple sclerosis

Expected Completion Core in 2016/Extension in 2023

The Lancet Neurology, Volume 39, No.10127, p1237-1330, Publication March 2018

77 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation OMB157 - Anti-CD20

Study NCT02792218 Asclepios I (COMB157G2301) NCT02792231 Asclepios II (COMB157G2302) Indication Multiple sclerosis Multiple sclerosis

Phase Phase 3 Phase 3

Patients 900 900

Annualized Relapse Rate (ARR) - number of confirmed Annualized Relapse Rate (ARR) - number of confirmed Primary Outcome relapses in a year calculated based on cumulative number relapses in a year calculated based on cumulative number Measures of relapses by patient adjusted for time-in-study by patient of relapses by patient adjusted for time-in-study by patient

• Ofatumumab subcutaneous • Ofatumumab subcutaneous Arms/Intervention • Teriflunomide oral • Teriflunomide oral

Target Patients Patients with relapsing forms of multiple sclerosis Patients with relapsing forms of multiple sclerosis

Expected Completion Q3-2019 (actual) Q3-2019 (actual)

Publication Primary manuscript planned in H1-2020 Primary manuscript planned in H1-2020

78 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation OMB157 - Anti-CD20

Study NCT03249714 APOLITOS (COMB157G1301) NCT03650114 ALITHIOS (COMB157G2399) Indication Multiple sclerosis Multiple Sclerosis

Phase Phase 2 Phase 3

Patients 60 2010

Reduced cumulative number of Gd-enhanced T1 lesions Evaluate the long-term safety and tolerability of ofatumumab Primary Outcome across 4 MRI scans at week 12, 16, 20 and 24 (ofatumumab 20 mg subcutaneous (sc) once every 4 (q4) weeks in Measures vs placebo) subjects with RMS from the first dose of ofatumumab

• Ofatumumab 20 mg subcutaneous injections Arms/Intervention • Ofatumumab 20 mg every 4 weeks • Placebo

Target Patients Patients with relapsing forms of multiple sclerosis Patients with relapsing MS

Expected Completion H2-2020 2025

Publication TBD TBD

79 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Oncology ABL001 – Specific, allosteric Bcr-Abl kinase inhibitor

Study NCT03106779 (CABL001A2301) NCT03578367 (CABL001E2201)

Indication Chronic myeloid leukaemia (CML) Chronic myeloid leukaemia (CML)

Phase Phase 3 Phase 2

Patients 222 120

Primary Outcome Major Molecular Response (MMR) rate at 24 weeks Deep molecular response (MR 4.5) at 48 weeks Measures

• ABL001 40 mg QD + 400 mg imatinib • ABL001 40 mg bid • ABL001 60 mg QD + 400 mg imatinib Arms/Intervention • Bosutinib 500 mg • Imatinib 400mg QD (continuation treatment) • Nilotinib 300mg bid (switch to nilotinib treatment)

Patients with chronic myelogenous leukemia in chronic CML-CP patients not reaching DMR (MR 4.5) while on 1L Target Patients phase, previously treated with 2 or more tyrosine kinase imatinib treatment inhibitors

Expected Completion H2-2020 H1-2021

Publication Manuscript submission in H2-2020 (journal TBD) TBD

81 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation ACZ885 – IL1β inhibitor

Study NCT03447769 (CACZ885T2301) NCT03631199 CANOPY-1 (CACZ885U2301)

Indication Adjuvant NSCLC 1st Line Non-small cell lung cancer (NSCLC)

Phase Phase 3 Phase 3

Patients 1,500 627 • Safety run-in part: Incidence of dose limiting toxicities Primary Outcome Disease free survival (primary), overall survival (key • Double-blind, randomized, placebo-controlled part: Measures secondary) Progression free survival (PFS) • Overall survival (OS) • Canakinumab or matching placebo in combination with • Canakinumab 200mg q3w sc for 18 cycles Arms/Intervention pembrolizumab and platinum-based doublet • Placebo q3w sc for 18 cycles chemotherapy Patients with: Patients with • High–risk NSCLC (AJCC/UICC v.8 stage II-IIIA and IIIB • Histologically confirmed Stage IIIB, IV NSCLC with no Target Patients (T>5cm N2)) after complete resection and standard of prior systemic anticancer therapy care adjuvant cisplatin-based chemotherapy • Squamous and non-squamous NSCLC • All histologies • No EGFR mutation and ALK rearrangement

Expected Completion 2022 2021 Johnson B et al. Abstract accepted for presentation at Publication TBD AACR-NCI-EORTC Oct 2019 (safety run-in)

82 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation ACZ885 – IL1β inhibitor

Study NCT03626545 CANOPY-2 (CACZ885V2301)

Indication 2nd / 3rd Line Non-small cell lung cancer (NSCLC)

Phase Phase 3

Patients 240

• Safety run-in part: Incidence of dose limiting toxicities. Primary Outcome • Double-blind, randomized, placebo-controlled part: Measures Overall Survival • canakinumab in combination with docetaxel Arms/Intervention • canakinumab matching-placebo in combination with docetaxel Patients with: • Stage IIIB or IV NSCLCwithout EGFR, ALK, ROS-1 or B- Target Patients RAF mutation • Previously treated with platinum therapy and PD(L)1- inhibitor

Expected Completion 2021

Publication TBD

83 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation BYL719 - Alpha-specific PI3K inhibitor

Study NCT02437318 SOLAR-1 (CBYL719C2301) Indication HR+ advanced breast cancer Phase Phase 3 Patients 572

Primary Outcome Progression-free survival (PFS) for patients with PIK3CA Measures mutant status

• Fulvestrant 500 mg + alpelisib 300 mg Arms/Intervention • Fulvestrant 500 mg + placebo

Men and postmenopausal women with hormone receptor Target Patients positive, HER2-negative advanced breast cancer which progressed on or after aromatase inhibitor treatment

Expected Completion Q3-2018 (actual) • Andre F, et al. Presentation at ESMO 2018 Publication • Andre et al. Manuscript N Engl J Med 2019;380:1929- 1940.

84 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Exjade® - Iron chelation of bis-hydroxy-phenyl triazole type

Study NCT00940602 TELESTO (CICL670A2302)

Indication Iron overload

Phase Phase 2

Patients 224

To compare deferasirox to placebo with regard to event-free Primary Outcome survival in low and int-1 risk MDS patient with transfusional Measures iron overload

• Deferasirox, iron chelator Arms/Intervention • Placebo

Patients with myelodysplastic syndromes (low/int-1 risk) and Target Patients transfusional iron overload

Expected Completion Q3-2018 (actual) • Angelucci E, et al. Presentation at ASH 2018 Publication • Angelucci E, et al. Manuscript submitted Q3-2019

85 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation INC280 - MET Inhibitor

Study NCT02414139 (CINC280A2201) NCT03647488 (CINC280D2201) EGFR Wild-type, ALK negative advanced Non-small Cell Indication Non-small cell lung cancer Lung Cancer (NSCLC) Phase Phase 2 Phase 2 Patients 364 105 Run in part: Assess safety and tolerability of capmatinib and Primary Outcome Overall Response Rate (ORR) spartalizumab combination. Measures Randomized part: Overall Survival (OS) • Pre-treated pts. with MET GCN: ≥ 6; ≥ 4 and < 6; < 4 • Pre-treated pts. with MET mutations regardless of cMET GCN as second or third line • Capmatinib plus spartalizumab Arms/Intervention • Treatment-naïve pts. with MET dysregulation • Docetaxel • Pre-treated pts with MET dysregulation – second line • Treatment-naïve pts with cMET mutations regardless of cMET GCN Pre-treated adult patients with EGFR wild-type ALK Adult patients with EGFR wild-type (wt), ALK-negative rearrangement negative advanced/metastatic non-small cell Target Patients advanced/ metastatic NSCLC with either MET lung cancer, that has demonstrated progression following one amplification or MET mutations prior platinum doublet and one prior PD-(L)1 checkpoint inhibitor Expected Completion Q2-2019 (actual) 2021 • Wolf J, et al. Presented at ASCO 2019 Publication TBD • Manuscript submission in H2-2019 (journal TBD)

86 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Jakavi® - JAK1/2 inhibitor

Study NCT02913261 REACH2 (CINC424C2301) NCT03112603 REACH3 (CINC424D2301) Indication Steroid-refractory acute graft vs. Host disease (SR aGVHD) Steroid-refractory chronic graft vs. Host disease (SR cGVHD)

Phase Phase 3 Phase 3

Patients 308 324 Primary Outcome Overall Response Rate (ORR) at 28 Days Overall Response Rate (ORR) at 183 Days Measures

• Ruxolitinib 10mg bid • Ruxolitinib 10mg bid Arms/Intervention • Best available therapy (BAT) • Best available therapy (BAT)

Target Patients Patients with steroid-refractory acute GVHD (SR aGVHD) Patients with steroid-refractory chronic GVHD (SR cGVHD)

Expected Completion Q3-2019 (actual) Q3-2019 (actual)

Publication • Manuscript submission in Q4-2019 (journal TBD) • Manuscript submission in H1-2020

87 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Jakavi® - JAK1/2 inhibitor

Study NCT03491215 REACH4 (CINC424F12201) NCT04097821 ADORE (CINC424H12201) Indication Graft versus host disease Myelofibrosis

Phase Phase 2 Phase 1/2

Patients 45 130 • Incidence of dose limiting toxicities within the first 2 Primary Outcome • Measurement of PK parameters cycles Measures • Overall Response Rate (ORR) • Response rate at the end of cycle 6 • Ruxolitinib • Ruxolitinib+Siremadlin Arms/Intervention • Ruxolitinib • Ruxolitinib+Crizanlizumab • Ruxolitinib+MBG453 Pediatric patients with grade II-IV acute graft vs. host disease Target Patients Patients with Myelofibrosis (MF) after allogeneic hematopoietic stem cell transplantation

Expected Completion 2022 2024

Publication TBD TBD

88 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Kisqali® - CDK 4/6 inhibitor

Study NCT03701334 NATALEE (CLEE011O12301C) Adjuvant treatment of hormone receptor (HR)-positive, Indication HER2-negative, early breast cancer (EBC). Phase Phase 3 Patients ~4,000

Invasive Disease-Free Survival for using STEEP criteria Primary Outcome (Standardized Definitions for Efficacy End Points in adjuvant Measures breast cancer trials)

• Ribociclib + endocrine therapy Arms/Intervention • Endocrine therapy

Pre and postmenopausal women and men with HR-positive, Target Patients HER2-negative EBC, after adequate surgical resection, who are eligible for adjuvant endocrine therapy

Expected Completion 2025 Publication TBD

89 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Kymriah® – CAR-T therapy

Study NCT02445248 JULIET (CCTL019C2201) NCT03568461 ELARA (CCTL019E2202) Indication Relapsed / refractory DLBCL Relapsed / refractory follicular lymphoma (FL) Phase Phase 2 Phase 2 Patients 128 113

Primary Outcome Overall response rate; efficacy and safety of CTL019 Complete Response Rate (CRR) Measures

Arms/Intervention Single-arm study of single dose of CTL019 Single-arm study of tisagenlecleucel

Adult patients with relapsed or refractory diffuse large B-cell Target Patients Adult patients with relapsed or refractory FL lymphoma (DLBCL)

Expected Completion 2017 (actual) H2-2020 (interim analysis) • Schuster et al. Presentations at ICML 2017; at EHA 2017; at ASH 2017; at ASH 2018; Borchmann et al. Presentation at EHA 2018; Bachanova et al. Publication TBD Presentation at ICML 2019 • Schuster et al. N Engl J Med. 2019;380(1):45-56. doi: 10.1056/NEJMoa1804980. Epub 2018 Dec 1.

90 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Kymriah® – CAR-T therapy

Study NCT03876769 CASSIOPEIA (CCTL019G2201J) NCT03570892 BELINDA (CCTL019H2301) Indication 1st line high risk acute lymphoblastic leukemia (ALL) 2nd line Diffuse large B-cell lymphoma (DLBCL) Phase Phase 2 Phase 3 Patients 160 318

Primary Outcome 5 year Disease Free Survival (DFS) Event-free Survival (EFS) Measures

Arms/Intervention Single-arm study of tisagenlecleucel; retreatment allowed Tisagenlecleucel versus standard of care Adult patients with aggressive B-cell Non-Hodgkin Target Patients Pediatric and young adult patients with 1st line high risk ALL Lymphoma after failure of rituximab and anthracycline- containing frontline immunochemotherapy Expected Completion 2025 2021

Publication TBD TBD

91 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation MBG453 – Tim-3 antagonist

Study NCT03946670 (CMBG453B12201) Indication Myelodysplastic syndrome Phase Phase 2 Patients 120

Primary Outcome Complete Remission (CR) rate and Progression Free Measures Survival (PFS)

• Experimental: MBG453 + hypomethylating agents Arms/Intervention • Placebo comparator: Placebo + hypomethylating agents Adult subjects with intermediate, high or very high risk Target Patients Myelodysplastic Syndrome (MDS) as per IPSS-R criteria

Expected Completion 2021

Publication TBD

92 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation PDR001 – PD-1 checkpoint inhibitor

Study NCT02967692 COMBI-i (CPDR001F2301)

Indication BRAFV600 mutant metastatic melanoma

Phase Phase 3 538 Patients Part 1 (safety-run in): 9; Part 2 (biomarker cohort): 27; Part 3 (Phase III, randomized, placebo controlled): 532

Primary Outcome Progression-Free Survival (PFS) Measures

• Spartalizumab 400mg i.v. Q4W + Tafinlar 150mg bid + Arms/Intervention Mekinist 2 mg • Placebo + Tafinlar 150 mg bid + Mekinist 2 mg Previously untreated patients with unresectable or Target Patients metastatic BRAF V600 mutant melanoma

Expected Completion H2-2019 (IA); H2-2020 (Final analysis) Publication TBD

93 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Rydapt®- Multi-targeted kinase inhibitor

Study NCT03280030 (CPKC412A2220) NCT03591510 (CPKC412A2218) Indication Acute myeloid leukemia Acute myeloid leukemia Phase Phase 2 Phase 2 Patients 66 50

Primary Outcome Occurrence of dose limiting toxicities Incidence of safety events and event free survival Measures Event Free Survival ( EFS)

• Midostaurin 50 mg Arms/Intervention • Chemotherapy followed by Midostaurin • Placebo

Newly diagnosed patients with FLT3-mutated acute myeloid Newly diagnosed pediatric patients with FLT3 mutated acute Target Patients leukemia (AML) myeloid leukemia (AML)

Expected Completion H1-2020 H2-2022

Publication TBD TBD

94 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation PDR001 - PD-1 checkpoint inhibitor

Study NCT03484923 (CPDR001J2201) Indication Previously treated unresectable or metastatic melanoma

Phase Phase 2

Patients 230

Primary Outcome Objective Response Rate (ORR) Measures

• PDR001 400mg i.v. Q4W + LAG525 600 mg i.v. Q4W • PDR001 400mg i.v. Q4W + capmatinib 400 mg bid orally • PDR001 400mg i.v. Q4W + canakinumab 300 mg (s.c) Arms/Intervention Q4W • PDR001 400mg i.v. Q4W + ribociclib 600 mg p.o QD on Days 1 to 21 of a 28-day cycle

Adult patients with previously treated unresectable or Target Patients metastatic melanoma

Expected Completion 2021 Publication Abstract submission to congress in H1-2020

95 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Promacta®/Revolade® – Thrombopoetin receptor agonist

Study NCT03025698 (CETB115E2201) Previously untreated or relapsed/refractory severe aplastic anemia or Indication recurrent aplastic anemia Phase Phase 2 Patients 60

Primary Outcome PK of eltrombopag at steady state in pediatric patients with SAA Measures

• Eltrombopag 12.5, 25, 50, 75 mg FCT & 25 mg pFOS • Arm B: previously untreated SAA-hATG/cyclosporine + Arms/Intervention eltrombopag • Arm A: relapsed/refractory SAA or AA: hATG/cyclosporine + eltrombopag or cyclosporine + eltrombopag

Pediatric patients from age 1 <18 years with relapsed/refractory SAA Target Patients or recurrent AA after IST or previously untreated SAA

Expected Completion 2025

Publication TBD

96 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation SEG101 – p-Selectin inhibitor

Study NCT03264989 SOLACE-Adults (CSEG101A2202) NCT03474965 SOLACE-Kids (CSEG101B2201) Prevention of Vaso-Occlusive Crises (VOC) in patients with Indication Prevention of VOC in pediatric patients with SCD Sickle Cell Disease (SCD) Phase Phase 2 Phase 2

Patients 55 100

Primary Outcome PK/PD and safety of SEG101 (crizanlizumab) at 5 mg/kg PK/PD and safety of SEG101 at 5 mg/kg Measures

SEG101 (crizanlizumab) at a dose of 5.0 mg/kg (or 7.5 SEG101 (crizanlizumab) at a dose of 5 mg/kg by IV infusion Arms/Intervention mg/kg for exploratory group) by IV infusion, ± ± Hydroxyurea/Hydroxycarbamide Hydroxyurea/Hydroxycarbamide

Target Patients Adult SCD patients with VOC Pediatric SCD patients with VOC

H2-2021 (pediatric patients ≥6 year old) Expected Completion Q4-2018 (actual) 2022 (pediatric patients 6 months – 6 year old) Publication Abstract submission to congress in H1-2020 TBD

97 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation SEG101 – p-Selectin inhibitor

Study NCT03814746 STAND (CSEG101A2301) Prevention of Vaso-Occlusive Crises (VOC) in patients with Indication Sickle Cell Disease (SCD) Phase Phase 3

Patients 240

Primary Outcome Rate of VOC events leading to healthcare visit Measures

• Crizanlizumab 5.0 mg/kg Arms/Intervention • Crizanlizumab 7.5 mg/kg • Placebo

Target Patients Adolescent and adult SCD patients (12 years and older)

Expected Completion H1-2022

Publication TBD

98 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Tafinlar® - BRAF inhibitor

Study NCT01677741 (CDRB436A2102)

Indication BRAFV600 mutant cancers

Phase Phase 1/2

Patients 85

Primary Outcome Safety, tolerability and pharmacokinetics Measures

Single-arm study of oral dabrafenib (dose based on age Arms/Intervention and weight)

Pediatric subjects aged 1 year to <18 years with advanced Target Patients BRAF V600-mutation positive solid tumors

Expected Completion Q1-2020 • Kieran MW et al. Manuscript Clin Cancer Res; (accepted Q3-2019, not yet published) (PK analysis) Publication • Hargrave D et al. Manuscript Clin Cancer Res; (accepted Q3-2019, not yet published) (safety/efficacy in low-grade gliomas)

99 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Tafinlar®+Mekinist® - BRAF inhibitor and MEK inhibitor

Study NCT02684058 (CDRB436G2201) Indication BRAFV600 mutant gliomas

Phase Phase 2

Patients 142

Primary Outcome Objective response rate Measures

Arms/Intervention Dabrafenib + trametinib (dose based on age and weight)

Children and adolescent patients with BRAF V600 mutation Target Patients positive relapsed or refractory high grade glioma (HGG) or BRAF V600 mutation positive low grade glioma (LGG) Expected Completion 2021

Publication TBD

100 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Tafinlar®+Mekinist® - BRAFV600 inhibitor and MEK inhibitor

Study NCT02124772 (CTMT212X2101)

Indication BRAFV600 mutant solid tumors

Phase Phase 1

Patients 142

Primary Outcome Safety, tolerability and pharmacokinetics and clinical activity Measures

Trametinib (dose based on age and weight) Arms/Intervention Dabrafenib + trametinib (dose based on age and weight)

Pediatric Subjects Aged 1 Month to <18 Years with Target Patients Advanced V600-Mutation Positive Solid Tumors

Expected Completion 2021

Publication Abstract submission to congress in H1-2020

101 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Zykadia® - ALK inhibitor

Study NCT02299505 ASCEND-8 (CLDK378A2112)

Indication ALK activated NSCLC

Phase Phase 2

Patients 306

Primary Outcome Part 1: Pharmacokinetics when taken with food Measures Part 2: Overall Response Rate (ORR) when taken with food

• Oral LDK378 450 mg once daily taken with food Arms/Intervention • Oral LDK378 600 mg once daily taken with food • Oral LDK378 750 mg once daily fasted

Adult patients with ALK-rearranged (ALK-positive) advanced non-small cell Target Patients lung cancer

Part 1 (PK): 2016 (actual) Expected Completion Part 2 (ORR): Q2-2018 (actual) Final (ORR): Q4-2019 • Part 1 (PK): Cho BC, et al. J Thorac Oncol. 2017 Sep; 12(9) 1357-1367 Publication • Part 2 (ORR): Cho B et al. J Thorac Oncol. 2019 Jul; 14(7) 1255-1265 • Final (ORR): TBD 102 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation 177Lu-PSMA-617 – Lu-labelled prostate specific membrane antigen (PSMA)

Study NCT03511664 VISION (PSMA-617-01) PSMA-positive Metastatic Castration-resistant Prostate Indication Cancer (mCRPC) Phase Phase 3

Patients 750

Primary Outcome • Radiographic Progression Free Survival Measures • Overall Survival

• 177Lu-PSMA-617 plus BS/BSC Arms/Intervention • BS/BSC alone

Adult patients with PSMA-positive Metastatic Castration- Target Patients resistant Prostate Cancer (mCRPC)

Expected Completion H1 2020

Publication TBD

103 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Ophthalmology Lucentis® - Anti-VEGF

Study NCT02375971 RAINBOW (CRFB002H2301) NCT02640664 RAINBOW Extension (CRFB002H2301E1) Indication Retinopathy of Prematurity (ROP) Retinopathy of Prematurity (ROP) Phase Phase 3 Phase 3 Patients 224 180

Absence of active Retinopathy of Prematurity (ROP) and unfavorable structural outcome at Week 24, defined as, 1) To evaluate the visual function of patients by assessing the Primary Outcome survival, 2) no intervention with a second modality for ROP, visual acuity in the better-seeing eye at the patient’s fifth Measures 3) absence of active ROP and 4) absence of unfavorable birthday. structural outcome

• Ranibizumab 0.2 mg (up to 3 injections max) • Ranibizumab 0.2 mg (up to Week 40, if warranted) Arms/Intervention • Ranibizumab 0.1 mg (up to 3 injections max) • Ranibizumab 0.1 mg (up to Week 40, if warranted) • Laser therapy

Male and female preterm infants with bilateral retinopathy of Male and female preterm infants with bilateral retinopathy of Target Patients prematurity (ROP) who require treatment. prematurity (ROP) who completed RAINBOW. Expected Completion Q1-2018 (actual) 2023 • EURETINA: Sep-2018 • AAO: Oct-2018 • Primary manuscript published online by The Lancet in Publication TBD Sep-2019 (https://www.thelancet.com/pdfs/journals/lancet/PIIS0140 -6736(19)31344-3.pdf) 105 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation RTH258 - Anti-VEGF

Study NCT02434328 HARRIER (CRTH258A2302) NCT02307682 HAWK (CRTH258A2301) Indication Neovascular age-related macular degeneration (nAMD) Neovascular age-related macular degeneration (nAMD)

Phase Phase 3 Phase 3

Patients 743 1,082

Primary Outcome Change in Best Corrected Visual Acuity (BCVA) from Change in Best Corrected Visual Acuity (BCVA) from Measures baseline at week 48 baseline at week 48

• RTH258 3 mg/50 µL • RTH258 6 mg/50 µL Arms/Intervention • RTH258 6 mg/50 µL • Aflibercept 2 mg/50 µL • Aflibercept 2 mg/50 µL

Target Patients Subjects with exudative age-related macular degeneration Subjects with exudative age-related macular degeneration

Expected Completion Q1-2018 (actual) Q2-2018 (actual) • Oral presentations including both primary endpoint and key 2nd superior anatomic outcomes at AAO meetings in Nov- 2017 (1st year results) and Nov-2018 (2nd year results) • Year 1 Manuscript: Dugel P, et al. Ophthalmology 2019 Apr 12; HAWK and HARRIER: Phase 3, Multicenter, Publication Randomized, Double-Masked Trials of Brolucizumab for Neovascular Age-Related Macular Degeneration. • Abstracts submissions on superior anatomic outcomes/Fluid/PostHoc results are planned for key retinal congresses (Angiogenesis/Mac Soc in Feb-2019; WRC in Mar-2019; ARVO in April-2019; ASRC July-2019; EURETINA Sept-2019; AAO Oct-2019 and APVRS Dec-2019 106 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation RTH258 - Anti-VEGF

Study NCT03386474 (CRTH258A2301E1) NCT03481634 KESTREL (CRTH258B2301) Indication Neovascular age-related macular degeneration (nAMD) Diabetic eye disease

Phase Phase 3 Phase 3

Patients 150 534

Primary Outcome Change from baseline in best-corrected visual acuity Number of treatment-emergent adverse events Measures (BCVA)

• RTH258 3 mg/50 µL • RTH258 6 mg/50 µL Arms/Intervention • RTH258 6 mg/50 µL • Aflibercept 2 mg/50 µL • Aflibercept 2mg/50 uL

Patients with neovascular age-related macular degeneration Patients with visual impairment due to diabetic macular Target Patients who have completed the CRTH258A2301 study edema (DME) Expected Completion Q3-2018 (actual) 2021

Publication TBD TBD

107 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation RTH258 - Anti-VEGF

Study NCT03481660 KITE (CRTH258B2302) NCT04058067 KINGLET (CRTH258B2304) Indication Diabetic eye disease Diabetic macular edema

Phase Phase 3 Phase 3

Patients 356 268

Primary Outcome Change from baseline in best-corrected visual acuity Change in best-corrected visual acuity (BCVA) Measures (BCVA)

• RTH258 6 mg/50 µL • Brolucizumab 6 mg Arms/Intervention • Aflibercept 2 mg/50 µL • Aflibercept 2 mg

Patients with visual impairment due to diabetic macular Patients with visual impairment due to diabetic macular Target Patients edema (DME) edema Expected Completion 2021 2022

Publication TBD TBD

108 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation RTH258 - Anti-VEGF

Study NCT03917472 (CRTH258B2305) NCT03802630 RAPTOR (CRTH258C2301) Indication Diabetic macular edema Retinal vein occlusion

Phase Phase 3 Phase 3

Patients 500 500

Primary Outcome Change in best-corrected visual acuity (BCVA) from Change from baseline in best-corrected visual acuity Measures baseline up to week 52 (BCVA) at week 24

• Brolucizumab (RTH258) 6 mg/0.05 mL every 4 weeks • Brolucizumab 6 mg every 4 weeks Arms/Intervention • Aflibercept 2 mg/0.05 mL every 4 weeks • Aflibercept 2 mg every 4 weeks

Patients with visual impairment due to diabetic macular Adult patients with visual impairment due to macular edema Target Patients edema secondary to branch retinal vein occlusion Expected Completion 2021 2022

Publication TBD TBD

109 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation RTH258 - Anti-VEGF

Study NCT03810313 RAVEN (CRTH258C2302) Indication Retinal vein occlusion

Phase Phase 3

Patients 750

Primary Outcome Change from baseline in best-corrected visual acuity Measures (BCVA) at week 24

• Brolucizumab 6 mg every 4 weeks Arms/Intervention • Aflibercept 2 mg every 4 weeks

Adult patients with visual impairment due to macular edema Target Patients secondary to central retinal vein occlusion Expected Completion 2023

Publication TBD

110 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation UNR844 - Disulfide bonds modulator

Study NCT03809611 (CUNR844A2203) Indication Presbyopia

Phase Phase 2

Patients 120

Primary Outcome Change in binocular distance-corrected near visual acuity Measures (DNCVA) from baseline

• 1.5% solution UNR844-Cl Arms/Intervention • Placebo

Target Patients Patients with presbyopia

Expected Completion Q4-2019

Publication Planned in ASRCS in 2020

111 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Respiratory QAW039 – DP2 receptor antagonist

Study NCT02555683 LUSTER-1 (CQAW039A2307) NCT02563067 LUSTER-2 (CQAW039A2314)

Indication Asthma Asthma

Phase Phase 3 Phase 3

Patients 846 846

Primary Outcome Reduction in the rate of moderate-to-severe asthma Reduction in the rate of moderate-to-severe asthma Measures exacerbations exacerbations

• QAW039 Dose 1 • QAW039 Dose 1 Arms/Intervention • QAW039 Dose 2 • QAW039 Dose 2 • Placebo • Placebo

Target Patients Patients with uncontrolled severe asthma Patients with uncontrolled severe asthma

Expected Completion Q4-2019 Q3-2019

Publication Planned in 2020 Planned in 2020

113 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation QAW039 – DP2 receptor antagonist

Study NCT03215758 ZEAL-1 (CQAW039A2316) NCT03226392 ZEAL-2 (CQAW039A2317) Indication Asthma Asthma

Phase Phase 3 Phase 3

Patients 650 650

Primary Outcome Pre-dose forced expiratory volume in 1 second (FEV1) Pre-dose forced expiratory volume in 1 second (FEV1) Measures

• QAW039 • QAW039 Arms/Intervention • Placebo • Placebo

Target Patients Patients with uncontrolled asthma Patients with uncontrolled asthma

Expected Completion Q3-2019 Q3-2019

Publication Planned in 2020 Planned in 2020

114 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation QAW039 – DP2 receptor antagonist

Study NCT03052517 SPIRIT (CQAW039A2315) NCT03650400 (CQAW039B2201) Indication Asthma Asthma

Phase Phase 3 Phase 2

Patients 1,900 – 2,300 24

Long term safety: treatment emergent adverse event (AE), Primary Outcome SAE and AE leading to discontinuation from study (52 wks Pharmacokinetics, safety and tolerability Measures and 160 wks)

• QAW039 Dose 1 • Fevipiprant Cohort A; Fevipiprant Cohort B; Chewable Arms/Intervention • QAW039 Dose 2 tablet • Placebo

Target Patients Patients with moderate to severe asthma Children aged 6 to < 12 years with asthma

Expected Completion Q4-2019 (for submission); 2022 (final) H2-2020

Publication TBD TBD

115 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation QBW251 - CFTR potentiator

Study NCT04072887 (CQBW251B2201) Indication Chronic obstructive pulmonary disease (COPD)

Phase Phase 2

Patients 900

Primary Outcome Trough FEV1 (Forced Expiratory Volume in 1 second) Measures change from baseline after 12 weeks of treatment • QBW251 450 mg • QBW251 300 mg • QBW251 150 mg Arms/Intervention • QBW251 75 mg • QBW251 25 mg • Placebo COPD patients on background triple inhaled therapy (LABA / Target Patients LAMA / ICS)

Expected Completion 2021

Publication TBD

116 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation QMF149 - Long-acting beta2 agonist and inhaled corticosteroid

Study NCT02892019 (CQMF149G2202) Indication Asthma

Phase Phase 2

Patients 80

Primary Outcome Trough FEV1 Measures

• Indacaterol acetate 75 μg od (via Concept1 inhaler) Arms/Intervention • Indacaterol acetate 150 μg od (via Concept1 inhaler)

Target Patients Children ≥ 6 to < 12 years of age with asthma

Expected Completion Q3-2019

Publication TBD

117 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation QVM149 - Long-acting beta2 agonist, Long-acting muscarinic antagonist and inhaled corticosteroid

Study NCT02554786 PALLADIUM (CQVM149B2301) NCT02571777 IRIDIUM (CQVM149B2302) Indication Asthma Asthma

Phase Phase 3 Phase 3

Patients 2,216 3,092 Primary Outcome Trough FEV1 Trough FEV1 Measures

• QMF149 150/160 µg od • QVM149 150/50/160 µg od • QMF149 150/320 µg od • QVM149 150/50/80 µg od Arms/Intervention • MF 400 µg od • QMF149 150/160 µg od • MF 400 µg bid • QMF149 150/320 µg od • Salmeterol 50 µg /fluticasone 500 µg bid • Salmeterol 50 µg /fluticasone 500 µg bid

Adult and adolescent (≥12 years) patients with asthma Adult (≥18 years) patients with asthma inadequately Target Patients inadequately controlled on medium/high-dose ICS or low- controlled on medium/high-dose of LABA/ICS (GINA step ≥4) dose LABA/ICS (GINA step ≥ 3) Expected Completion Q3-2019 Q3-2019 • Planned in H1-2020 Publication Planned in H1-2020 • Planned abstract for BTS in Q4-2019

118 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation QVM149 - Long-acting beta2 agonist, Long-acting muscarinic antagonist and inhaled corticosteroid

Study NCT03100500 (CQVM149B1305) NCT03100825 (CQVM149B1304) Indication Asthma Asthma

Phase Phase 3 Phase 3

Patients 51 94 Long-term safety/tolerability: Incidence and severity of Long-term safety/tolerability: Incidence and severity of Primary Outcome treatment emergent adverse events during the 52 weeks treatment emergent adverse events during the 52 weeks Measures study study

Arms/Intervention • Single arm: QMF149 150/320 μg od • Single Arm: QVM149 150/50/160 μg od

Target Patients Japanese patients with asthma inadequately controlled Japanese patients with asthma inadequately controlled

Expected Completion Q1-2019 (actual) Q2-2019 (actual) • Planned in H1-2020 • Planned in H1-2020 Publication • Planned abstract for ATS in 2020 • Planned abstract for ATS in 2020

119 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation QVM149 - Long-acting beta2 agonist, Long-acting muscarinic antagonist and inhaled corticosteroid

Study NCT02892344 QUARTZ (CQVM149B2303) NCT03158311 ARGON (CQVM149B2306) Indication Asthma Asthma

Phase Phase 3 Phase 3

Patients 802 1,251 Primary Outcome Non-inferiority of Asthma Quality of Life Questionnaire Trough FEV1 Measures (AQLQ)

• QVM149 150/50/80 μg od • QMF149 150/80 µg od Arms/Intervention • QVM149 150/50/160 μg od • MF 200 µg od • Salmeterol/fluticasone 50/500 μg bid + tiotropium 5 μg od

Adult and adolescent (≥12 years) patients with mild asthma Target Patients inadequately controlled on low-dose ICS or low-dose Patients with uncontrolled asthma LABA/ICS (Gina step 2-3) Expected Completion Q1-2019 (actual) Q3-2019

Publication Planned in Q1-2020 Planned in H1-2020

120 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Xolair ® – anti-IgE antibody

Study NCT03369704 (CIGE025F1301)

Indication Seasonal allergic rhinitis: Severe Japanese Cedar Pollinosis

Phase Phase 3

Patients 337

Primary Outcome Mean nasal symptom score, consists of severity of sneezing, rhinorrhea and nasal congestion. Measures

In addition to standard of care: Arms/Intervention • Omalizumab per approved allergic asthma dosing table for IgE/body weight combinations • Placebo Patients with severe Japanese cedar pollinosis, whose symptoms were inadequately controlled with current Target Patients recommended therapies Expected Completion Q1-2019 (actual) • Late breaking abstract was published at AAAAI (American Association of Allergy, Asthma and Immunology) annual meeting, Feb-2019. Publication • Oral/poster published at EAACI (the European Academy of Allergy and Clinical Immunology), Jun-2019 • Planned oral/poster to be submitted for JRS (Japanese Rhinologic Society) in Oct-2019 • Planned manuscript to be submitted to JACI (The Journal of Allergy and Clinical Immunology) in Q4-2019

121 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Sandoz Biopharmaceuticals Hyrimoz® - Biosimilar adalimumab

Study NCT02744755 ADMYRA (GP17-302) Indication Immunology Phase Phase 3 Patients 353 Change in DAS28-CRP score from baseline to week 12 in Primary Outcome patients treated with GP2017 and patients treated with Measures Humira®

• GP2017 Arms/Intervention • US licensed Humira® adalimumab

Target Patients Patients with moderate to severe active rheumatoid arthritis

Expected Completion 2018 (actual)

• Wiland, P. et al., presented at EULAR 2019 Publication • Wiland, P. et al., BioDrugs, Q4 2019

123 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation GP2411 - Biosimilar denosumab

Study NCT03974100 (CGP24112301) Indication Osteoporosis Phase Phase 3 Patients 522

Primary Outcome Percent change from baseline (%CfB) in lumbar spine Bone Measures Mineral Density

• GP2411 60 mg /mL subcutaneous injection every 6 months Arms/Intervention • Prolia® 60 mg /mL subcutaneous injection every 6 months

Target Patients Postmenopausal women with osteoporosis

Expected Completion 2022

Publication Study data publications expected for 2024 and beyond

124 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Global Health KAF156 – Plasmodium Falciparum Inhibitor – PfCARL mediated

Study NCT03167242 (CKAF156A2202) Indication Malaria

Phase Phase 2

Patients 512

Primary Outcome PCR-corrected adequate clinical and parasitological Measures response (ACPR)

• KAF156 and LUM-SDF (different combinations) Arms/Intervention • Coartem

Adults and children with uncomplicated Plasmodium Target Patients Falciparum Malaria

Expected Completion H1-2021

Publication TBD

126 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation KAE609 – Plasmodium Falciparum Inhibitor – spiroindolone against PfATP4

Study NCT03334747 (CKAE609A2202) Indication Malaria

Phase Phase 2

Patients 210 CTCAE grades increase from baseline in alanine Primary Outcome aminotransferase (ALT) or aspartate aminotransferase Measures (AST)

• KAE609 Arms/Intervention • Coartem

Target Patients Adults with uncomplicated Plasmodium Falciparum malaria

Expected Completion Q4-2020

Publication TBD

127 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation Key definitions and trademarks This presentation contains several important words or phrases that we define as below:

AE: Adverse Event NTD: New Therapeutic Drug ALL: Acute lymphatic leukemia od: once a day AMD: Age-Related Macular Degeneration ORR: Overall response rate AML: Acute myeloid leukemia OS: Overall survival Approval: In Pharmaceuticals and Alcon in US and EU; each indication and regulator combination counts as PA: Prior authorization approval; excludes label updates, CHMP opinions alone and minor approvals PASI 90: 90% reduction in Psoriasis Area Severity Index from baseline aRCC: advanced renal cell cancer PFS: Progression free survival AS: Ankylosing Spondylitis PSA: Prostate specific antigen bid: twice a day PsA: Psoriatic arthritis BC: Breast cancer PsO: Psoriasis BCMA: B-cell maturation antigen PV: Polycythemia vera BCVA: best corrected visual acuity PY: Prior year BS: Biosimilars QoL: Quality of Life BTD: Breakthrough therapy designation RCC: Renal cell cancer CGRP: Calcitonin gene-related peptide r/r ALL: relapsed/refractory acute lymphoblastic leukemia CLL: Chronic lymphocytic leukemia RRMS: relapsing-remitting multiple sclerosis CM: Chronic migraine SCPC: Sickle cell pain crisis CML: Chronic myeloid leukemia SpA: Spondyloarthropathy COPD: Chronic Obstructive Pulmonary Disease SPMS: Secondary progressive multiple sclerosis CR: complete remission TFR: Treatment-free Remission CRC: Colorectal Cancer TNBC: Triple negative breast cancer CSU / CIU: Chronic spontaneous urticaria / Chronic idiopathic urticaria CVRR: Cardiovascular risk reduction DLBCL: Diffuse large B-cell lymphoma DMC: Data monitoring committee EF: ejection fraction EM: Episodic migraine FL: Follicular lymphoma FPFV: First patient first visit GBM: Glioblastoma multiforme HF: Heart failure HF-pEF: Heart failure with preserved ejection fraction HFrEF: Heart failure with reduced ejection fraction HR+/HER2- mBC: Hormone Receptor positive / Human Epidermal growth factor receptor 2 negative metastatic breast cancer LoE: Loss of exclusivity M/M: Multiple myeloma MF: Myelofibrosis MI: Myocardial infarction MS: Multiple sclerosis NASH: Non-Alcoholic Steatohepatitis NET: Neuroendocrine tumor NSCLC: Non-small cell lung cancer

128 | Novartis Q3 2019 Results | October 22, 2019 | Investor Presentation