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Materiality Assessment 2021 Kickoff Webinar Dialogue Matters – Support Us to Spur Positive Impact February 8, 2021 Agenda

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Materiality Assessment 2021 Kickoff Webinar Dialogue Matters – Support Us to Spur Positive Impact February 8, 2021 Agenda BusinessNovartis or Organizational Unit FranchiseESG Management or Department Office Materiality Assessment 2021 Kickoff Webinar Dialogue matters – support us to spur positive impact February 8, 2021 Agenda Welcome Why it’s important? What have we achieved? Where are we heading? We would like to hear from you Jeff Sturchio Open Q&A 2 Novartis Materiality Webinar | 08.02.2021 Welcome Duration: 1 hour At any time, we invite you to type your questions in the Q&A box If you are struggling to connect: . Audio is typically more reliable over a telephone/ mobile line than computer audio . Close other applications not in use, especially those that take bandwidth (e.g. email and additional internet browser tabs) . Connect to the internet via cable rather than wireless, if possible 3 Novartis Materiality Webinar | 08.02.2021 Moderator & Speakers Jeff Sturchio Dr. Patrice Matchaba Dr. Lutz Hegemann Samir Shah Carrie Scott Chairman Head US Corporate Group Head Corporate Affairs Head Investor Relations Head ESG Management Responsibility and President and Global Health Office Rabin Martin Novartis US Foundation Novartis Novartis Novartis 4 Novartis Materiality Webinar | 08.02.2021 Agenda Welcome Why it’s important? What have we achieved? Where are we heading? We would like to hear from you Dr. Patrice Matchaba Open Q&A 5 Novartis Materiality Webinar | 08.02.2021 Agenda Welcome Why it’s important? What have we achieved? Where are we heading? We would like to hear from you Dr. Lutz Hegemann Open Q&A 6 Novartis Materiality Webinar | 08.02.2021 Our purpose is to reimagine medicine to improve Novartis “ and extend people's lives. We use innovative Our Purpose science and technology to address some of society's most challenging healthcare issues. We discover and develop breakthrough treatments and find new ways to deliver them to as many people as possible. We also aim to reward those who invest their money, time and ideas in our company.” 7 Patients Listening to our Peers stakeholders to Regulators we are understand embedded in Novartis Materiality Webinar |a M&E complex 8| 28.10.2020 what matters health Investors most for our ecosystem mission Customers Suppliers Materiality Assessments at Novartis have shaped our approach 4.0 Drug (product) safety and transparency Bribery and corruption Compliance with laws and regulations Senior management commitment: "walk the talk" Societal perception of patents and intellectual property Drug pricing Employee attraction/retention 3.0 Genetic engineer ing, biotechnology, cloning, stem cells Access to health MA21 Innovation for societal health needs: preventive vs. reactive Clinical data transparency Significance to NOVARTIS Stakeholders Animal Testing Human Rights 2.0 2.0 3.0 4.0 Impact on NOVARTIS Business 20002001 2006 2008 2013 2014 2015 2017 2019 2020 2021 Demonstrating outcomes Preparing to transform Moving from reacting to healthcare system Sole donor to Antimalarial Healthy Family Local innovative Novartis Novartis Access New strategy ESG Bond challenges to WHO of Coartem® brands in LMIC Access Principles for SS Africa proactively shaping multidrug (no-loss systems and solutions! therapy for strategy) leprosy 9 Novartis Materiality Webinar | 08.02.2021 Stakeholder input from the materiality assessment informs our core actions MA results will inform: . Divisional & Functional Processes . Enterprise Risk Management . Annual Corporate Strategy Review Ownership: . Novartis Executive Committee . Board of Directors 10 Novartis Materiality Webinar | 08.02.2021 Agenda Welcome Why it’s important? What have we achieved? Where are we heading? We would like to hear from you Samir Shah Open Q&A 11 Novartis Materiality Webinar | 08.02.2021 How can a healthcare company increase its value? Novartis share price dependent on: Increase Reduce Driving top line cash flows the cost 1 excellence in launches of capital Firm Driving bottom line value 2 operational excellence Pipeline Increase Increase length expected of growth 3 delivering on innovation growth period 4 ESG Source: Aswath Damodaran: Value Enhancements: Back to Basics, Vontobel Equity Research 12 Novartis Materiality Webinar | 08.02.2021 ESG principles in Novartis 1 Materiality Analyses ESG needs to be integrated into functions 2 e.g. sustainability bond 3 Great ESG scores are not the direct objective 13 Novartis Materiality Webinar | 08.02.2021 Consensus Materiality Analyses are fundamental to determining relevance of ESG factors (e.g. company, or investment decision) 14 Novartis Materiality Webinar | 08.02.2021 Novartis also uses Materiality Analyses for this Key first step to defining the ESG strategy Most relevant ESG factors ESG pillars External Ethical Standards Pricing & Access stakeholders Patient health Access to and safety healthcare Ethical business Innovation practices Others including governance, Global Health Challenges Corporate Citizenship people, Increasing Increasing importance environment Internal stakeholders Increasing importance 1. Interactions with 200+ stakeholders from academia, fin. markets, governments, healthcare providers, NGOs. Materiality assessment webinar series: https://www.novartis.com/investors/environmental-social-and-governance/materiality-assessments 15 Novartis Materiality Webinar | 08.02.2021 But materiality… Is about answering what the purpose is of using ESG data Depends on stakeholder (IR world, asset manager, investor, hedge fund, pension fund) Depends on geography Changes with time 16 Novartis Materiality Webinar | 08.02.2021 ... which explains why materiality is the most and least consensual term in ESG investing Relevance of a sustainability factor Pose direct financial Any fact, describing to a company's risks, may be an asset, that helps financial Information that is regulated, drive best you decide whether 3 performance important, relevant practices, raised by or not you should and critical to stakeholders, invest in this asset1 long-term value opportunities for creation2 innovation / growth4 1. JPMorgan research March 2020: What Happened to ESG, Hecker et al 2. WEF Measuring stakeholder capitalism September 2020 3. https://www.robeco.com/en/key-strengths/sustainable- investing/glossary/materiality.html#:~:text=The%20relevance%20of%20a%20sustainability,margins%2C%20required%20capital%20and%20risk. 4. SASB’s approach to materiality for hte purpose of standards development staff bulletin no. SB002-07062017 July 2017 17 Novartis Materiality Webinar | 08.02.2021 Robust methodology is important Novartis approach: varied inputs from stakeholders, geography, time-relevant 1 2 Local Materiality Secondary research Primary research Analyses (desk) Quantitative & qualitative (interviews) Medical journals Forward-looking Analyst reports - externals scenario analysis Research - internals ~180 articles 18 Novartis Materiality Webinar | 08.02.2021 It’s not ESG per se, but the focus on material ESG issues that is correlated to improved share price Ethical Standards Pricing & Access +6% +2% ESG issues Global Health Challenges Corporate Citizenship material -2.9% +0.6% LOW HIGH LOW HIGH Performanceon Performance on immaterial ESG Issues 1. Serafeim, George et al. (2015): Corporate Sustainability: First evidence on materiality. HBS Working Paper 15-073. Other sources: Cheng, Ioannou and Serafeim (2014); Dhaliwal et. al (2011); Dhaliwal et. al (2012); Grewal, Riedl and Serafeim (2017); Khan, Yoon and Serafeim (2016); Grewal, Hauptman and Serafeim (2017). 19 Novartis Materiality Webinar | 08.02.2021 First sustainability-linked bond in the industry An open accountability to our ESG commitments “Driving purpose, Novartis Sustainability linked bond stakeholder value; happens when at center of systems, integrated, targets Treasury issued (ESG) linked bond mandatory & conditional” 1 Materiality Analyses bases of Targets “Creating symbiotic (access/patients reached with medicines) innovation ecosystem 2 Conditional requires new methods, Step up metrics, and indicators” 3 Mandatory Mariana Mazzucato Targets included in CEO balanced scorecard 4 Symbiotic Bond buyers partnership with company 20 Novartis Materiality Webinar | 08.02.2021 Operationalized Materiality Analyses into strategic pillars and then into management targets See Novartis in Society ESG Report 2020 21 Novartis Materiality Webinar | 08.02.2021 Agenda Welcome Why it’s important? What have we achieved? Where are we heading? We would like to hear from you Carrie Scott Open Q&A 22 Novartis Materiality Webinar | 08.02.2021 A systematic stakeholder engagement follows a robust methodology https://www.youtube.com/watch?v=IqFLSV6Hnms&feature=youtu.be 23 Novartis Materiality Webinar | 08.02.2021 Process Overview 1 2 3 4 5 6 Q3 Q32020 2020 Q3Q1 2020 2021 Q1 2021Q2 2021 Q2 2021 Q2 2021Q2 2021 Q3 2021 Desk Management Materiality Stakeholder Analysis & ManagementManagement Research Survey Surveys Discussions Interpretation ReportReport Assurance Manual review Via function & Quantitative Qualitative Ranking of Informing of key division to online survey interviews and cluster and business stakeholder define internal among internal workshop with issues, strategies, sources to contact & external internal & correlation management create impact owners of stakeholders external analysis and processes and and external stakeholders scenario decision dependency list stakeholders analysis making https://www.youtube.com/watch?v=IqFLSV6Hnms&feature=youtu.be 24 Novartis Materiality Webinar | 08.02.2021 Process Overview 1 2 3 4 5 6 Q3 Q32020 2020 Q3Q1 2020 2021 Q1 2021Q2 2021 Q2 2021 Q2 2021Q2
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