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Novartis AG Alcon Capital Markets Day - New York Client Id: 77 THOMSON REUTERS STREETEVENTS EDITED TRANSCRIPT NOVN.VX - Novartis AG Alcon Capital Markets Day - New York EVENT DATE/TIME: NOVEMBER 27, 2018 / 2:00PM GMT THOMSON REUTERS STREETEVENTS | www.streetevents.com | Contact Us ©2018 Thomson Reuters. All rights reserved. Republication or redistribution of Thomson Reuters content, including by framing or similar means, is prohibited without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its affiliated companies. Client Id: 77 NOVEMBER 27, 2018 / 2:00PM, NOVN.VX - Novartis AG Alcon Capital Markets Day - New York CORPORATE PARTICIPANTS Andrew Pawson David J. Endicott Novartis AG - CEO of Alcon David Murray Alcon, Inc. - CFO Franck Leveiller Alcon, Inc. - SVP and Global Head R&D Karen King Michael Ball Michael Onuscheck Alcon, Inc. - Global Franchise Head of Alcon Surgical Samir Shah Novartis AG - Global Head of IR CONFERENCE CALL PARTICIPANTS Anthony Charles Petrone Jefferies LLC, Research Division - Equity Analyst David Ryan Lewis Morgan Stanley, Research Division - MD Jeffrey D. Johnson Robert W. Baird & Co. Incorporated, Research Division - Senior Research Analyst Joanne Karen Wuensch BMO Capital Markets Equity Research - MD & Research Analyst Joshua Thomas Jennings Cowen and Company, LLC, Research Division - MD and Senior Research Analyst Lawrence H. Biegelsen Wells Fargo Securities, LLC, Research Division - Senior Analyst Luisa Caroline Hector Exane BNP Paribas, Research Division - Pharma Research Analyst Matthew Weston Crédit Suisse AG, Research Division - MD and Co-Head of European Pharmaceutical Equity Research Richard S. Newitter Leerink Partners LLC, Research Division - MD, Medical Supplies & Devices and Senior Analyst Robert Adam Hopkins BofA Merrill Lynch, Research Division - MD of Equity Research Stephen Barr Willoughby Cleveland Research Company - Senior Research Analyst Stephen Michael Scala Cowen and Company, LLC, Research Division - MD and Senior Research Analyst PRESENTATION Samir Shah - Novartis AG - Global Head of IR Good morning. Please take your seats. Our program is about to begin. (presentation) Samir Shah - Novartis AG - Global Head of IR Good morning, everybody, and welcome to the Alcon Capital Markets Day, and hello to everybody who are on the webcast as well. We really appreciate you taking the time to be with us during your very busy schedule, so thank you for that. On June 29 of this year, Novartis announced intention to do 100% spinoff of the -- its medical devices eye care division for Alcon. The spinoff itself and all the plans are all on track at the moment. So we had -- on November 13, we filed the initial 20-F, which I know most of you will have actually 2 THOMSON REUTERS STREETEVENTS | www.streetevents.com | Contact Us ©2018 Thomson Reuters. All rights reserved. Republication or redistribution of Thomson Reuters content, including by framing or similar means, is prohibited without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its affiliated companies. Client Id: 77 NOVEMBER 27, 2018 / 2:00PM, NOVN.VX - Novartis AG Alcon Capital Markets Day - New York gone through. And the next major milestone will be the shareholder vote on the spin. That will be at the Novartis AGM, which takes place on February 28 of next year. Prior to that and shortly after that, the Novartis senior management team will be out on the road on roadshows as well as bank conferences, so you will have a chance to meet them in person on your own grounds. The other person which I wanted to introduce is Karen. Karen King Hello. Samir Shah - Novartis AG - Global Head of IR So Karen King -- many of you probably know Karen. She's been in the medical devices and the ophthalmology world for some time from an Investor Relations perspective. She's the Senior Vice President for Alcon for both Investor Relations and Communications. Over the last few months, she's been working very closely with Novartis' both the Investor Relations team as well as the Communications team, with just one aim in mind to make sure that we have a very smooth transition between Novartis and Alcon in terms of all the communications, which we do with all of you. One little point on that, which is that up till now, all your questions have been fielded from an Investor Relations perspective by the Novartis Investor Relations team. After today and after the Capital Markets Day today, any questions which you have, you can direct directly to the Alcon team via Karen or you can still go back and ask ourselves within the Novartis Investor Relations group as well. One other point, this is the first of the Capital Markets day, and the second one will be next week in London. So with that, Karen? Karen King Thank you. So good morning, everybody, in the room and, again, hello to everybody on the webcast. As Samir said, I am running the Investor Relations and Communications areas for Alcon. So I just wanted to introduce myself a bit. I -- prior to Alcon -- I've been here for about 4 months, and I'm really excited to be here. This is just a great company, great people. Prior to this, I spent a few years at LivaNova, which is a U.K.-based medical device company focused on neuromodulation and cardiac surgery. And prior to that, I spent many years at Hospira, which is a generic injectable and medical device company. I see a lot of you in the room, who I know from both of those companies. So it's great to see you. Thank you for being here. And I see a lot of new faces. So I look forward to working with you, talking about Alcon and building relationships over the next couple years. A couple of housekeeping items. If you guys have cellphones, please take them out, put them on silent mode. If you're looking for Wi-Fi, it's on the back of your badge. If you flip it around, you will find the Wi-Fi code. And also, if you do -- if your computers do run out of juice or your phones, we do have charging stations back at the registration desk, so just ask. We -- everybody should have books on the table. If you don't have a book, we have a few more also located at the registration desk. But the book should have everything in it you need for today. It has the agenda in it. It has biographies of both our speakers and our booth exhibitors, and I'm going to talk about the booths in a little bit. It has a safe harbor in it. It has a presentation. And in the back, it has a glossary of acronyms, so if we use terms that we don't describe very well, you don't understand, please look in the back, the acronym should be there. This meeting is live webcast, as I mentioned. So I will talk about how to use the microphones before Q&A, but we want to make sure that all the questions and answers are captured. So we'll be walking around with microphones for your questions. Also this morning, a press release was distributed on the Capital Markets Day. It is both on the Alcon site and the Novartis site, and it has a link in it to click on if you want to go to the presentation. Also just for ease of use, you can go directly to Novartis to their IR section under Events, and you'll find the presentation listed there. I'm going to turn it over to Samir to talk about the agenda. 3 THOMSON REUTERS STREETEVENTS | www.streetevents.com | Contact Us ©2018 Thomson Reuters. All rights reserved. Republication or redistribution of Thomson Reuters content, including by framing or similar means, is prohibited without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its affiliated companies. Client Id: 77 NOVEMBER 27, 2018 / 2:00PM, NOVN.VX - Novartis AG Alcon Capital Markets Day - New York Samir Shah - Novartis AG - Global Head of IR Thank you, Karen. And for those of you who are actually on the web, it's Slide #3, and you can see what we've done with respect to the agenda. After our opening comments, it will be Mike Ball, who is the Chairman-Designate for Alcon; and David Endicott, the CEO, who will come on. Mike will describe the progress, which has been made with the Alcon business over the last couple of years and why it's in a very good position to be a stand-alone company. David will then go through with respect to the vision for Alcon, it's strategy and the key growth drivers for both the top and bottom line. At that stage, we will then break off for a Q&A on the first 2 presentations. And you'll notice that throughout the whole day in the agenda, after each set of presentations, we have sufficient time to address your questions in Q&A session. Following the first section with Mike and David, we start the second section. And in the second section, you'll have Michael Onuscheck and Andy Pawson. Michael is actually the President of all the global businesses and innovation at Alcon; and Andy is the Franchise Head and he's the President for Global Vision Care. They'll take a look at both the franchises of Surgical and Vision Care franchises and go deep down into some of the details with respect to those specific franchises.
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