<SEC-DOCUMENT>0001370368-19-000028.txt : 20190424
<SEC-HEADER>0001370368-19-000028.hdr.sgml : 20190424
<ACCEPTANCE-DATETIME>20190424130909
ACCESSION NUMBER:		0001370368-19-000028
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20190331
FILED AS OF DATE:		20190424
DATE AS OF CHANGE:		20190424

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NOVARTIS AG
		CENTRAL INDEX KEY:			0001114448
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			V8
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15024
		FILM NUMBER:		19763347

	BUSINESS ADDRESS:	
		STREET 1:		LICHTSTRASSE 35
		CITY:			BASEL
		STATE:			V8
		ZIP:			CH 4056
		BUSINESS PHONE:		01141613241111

	MAIL ADDRESS:	
		STREET 1:		LICHTSTRASSE 35
		CITY:			BASEL
		STATE:			V8
		ZIP:			CH 4056
</SEC-HEADER>
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<TYPE>6-K
<SEQUENCE>1
<FILENAME>a190424-6k.htm
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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 18pt; FONT-WEIGHT: bold">SECURITIES AND EXCHANGE COMMISSION</font></div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Washington, D.C. 20549</font></div>

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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">REPORT OF FOREIGN PRIVATE ISSUER</font></div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">PURSUANT TO RULE 13a-16 or 15d-16 OF</font></div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">THE SECURITIES EXCHANGE ACT OF 1934</font></div>

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    Report on Form 6-K dated
    April 24, 2019</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 18pt; FONT-WEIGHT: bold">Novartis AG</font></div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">(Name of Registrant)</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Lichtstrasse 35</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">4056 Basel</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Switzerland</font></div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Form 20-F: <font style="DISPLAY: inline; FONT-FAMILY: wingdings">x</font></font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Form 40-F: <font style="DISPLAY: inline; FONT-FAMILY: wingdings">o</font></font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Yes: <font style="DISPLAY: inline; FONT-FAMILY: wingdings">o</font></font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">No</font>: <font style="DISPLAY: inline; FONT-FAMILY: wingdings; FONT-WEIGHT: bold">x</font></font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Yes: <font style="DISPLAY: inline; FONT-FAMILY: wingdings">o</font></font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">No</font>: <font style="DISPLAY: inline; FONT-FAMILY: wingdings; FONT-WEIGHT: bold">x</font></font></div>
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<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 18pt; FONT-WEIGHT: bold">Exhibits:</font>
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  <a href="a190424-99_1.htm" title="99.1 Financial Report Q1 2019">99.1 Financial Report Q1 2019</a>

<br />

 <a href="a190424-99_2.htm" title="99.2 Interim Financial Report">99.2 Interim Financial Report</a>
    <br />
</font>

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<br />




    <div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SIGNATURES</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Novartis AG</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Date:
April 24, 2019</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">By:</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">/s/ PAUL PENEPENT</font></div>
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<td valign="top" width="40%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Name:</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Paul Penepent</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Title:</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Head Group Financial Reporting and Accounting</font></div>
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<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>a190424-99_1.htm
<DESCRIPTION>99.1 FINANCIAL REPORT Q1 2019
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #ffffff; TEXT-ALIGN: center; BACKGROUND-COLOR: #999999">FINANCIAL RESULTS&#160;&#160; &#8226;&#160;&#160; R&#201;SULTATS FINANCIERS&#160;&#160; &#8226;&#160;&#160; FINANZERGEBNISSE</div>

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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 14pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 6pt">Novartis starts 2019 with strong sales and double digit core<sup style="vertical-align: text-top; line-height: 1; font-size: 10pt">1</sup> operating income growth, <font style="FONT-SIZE: 14pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Mayzent </font>launch and Alcon spin-off; profit guidance upgraded</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">Transformation to focused medicines company continued with the spin-off of Alcon; </font>commentary below is on continuing operations<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">2</sup></div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Continuing <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-VARIANT: normal; TEXT-TRANSFORM: none; FONT-WEIGHT: bold; FONT-STYLE: normal">operations </font>net sales up 7% (cc<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">1</sup>, +2% USD) driven by Innovative Medicines:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Entresto </font>grew to USD 357 million, +85% (cc) including the benefit from new data on hospital initiation</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Oncology sales grew 9% (cc) mainly driven by <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Lutathera</font> (USD 106 million), <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Promacta (</font>USD 307 million, +24% cc)<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">, Kisqali</font> (USD 91 million) and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Kymriah</font> (USD 45 million)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Core operating income grew 18% (cc, +9% USD) driven by the strong sales growth</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">2019 guidance for new focused medicines company</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-WEIGHT: bold">4</sup>&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">&#8211; core operating income growth revised upwards to grow high single digit (cc); sales guidance confirmed to grow mid single digit (cc)</font></div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">In connection with the Alcon spin-off on April 9, the Group will report as part of its Q2 discontinued operations results a one-time non-cash IFRS gain of approximately USD </font>4.7 <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">billion</font></div>
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<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; MARGIN-TOP: 6pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">Basel, April 24, 2019 &#8212;</font> Commenting on the results, Vas Narasimhan, CEO of Novartis, said:</div>

<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; MARGIN-TOP: 2.5pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">&#8220;Novartis is off to a strong start in 2019 with the </font>Mayzent<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic"> launch, successful Alcon spin-off, and strong operational execution leading us to revise 2019 profit guidance upwards. We enter an exciting period with expected launches of </font>Zolgensma, BYL719<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic"> and brolucizumab and multiple late stage readouts.&#160; With our strong pipeline, focus on productivity, and commitment to cultural transformation, we are well positioned for growth in 2019 and the future.&#8221;</font></div>

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<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
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<tr style="HEIGHT: 12px">
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Net sales</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">11 106</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">10 915</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">2</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">7</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Operating income</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">2 242</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">2 371</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-5</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">4</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Net income</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">1 868</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">1 970</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-5</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">4</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">EPS (USD)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">0.81</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">0.85</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-5</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">5</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Free cash flow</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">1 869</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">1 919</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-3</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Core Operating income</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">3 254</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">2 980</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">9</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">18</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Core Net income</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">2 811</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">2 684</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">5</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">13</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Core EPS (USD)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">1.21</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">1.15</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">5</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">13</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>
</div>

<div>
<div>&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">1</sup>Constant currencies (cc), core results and free cash flow are non-IFRS measures. An explanation of non-IFRS measures can be found on page 41 of the Condensed Interim Financial Report. Unless otherwise noted, all growth rates in this Release refer to same period in prior year. <sup style="vertical-align: text-top; line-height: 1; font-size: smaller">2</sup>Refers to continuing operations as defined on page 32 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. <sup style="vertical-align: text-top; line-height: 1; font-size: smaller">3 </sup>The brand name <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Zolgensma</font> has been provisionally approved by the FDA for the investigational product AVXS-101 (onasemnogene abeparvovec-xioi), but the product itself has not received marketing authorization or BLA approval from any regulatory authorities. <sup style="vertical-align: text-top; line-height: 1; font-size: smaller">4 </sup>Removes Alcon and the Sandoz US dermatology and oral solids portfolio from both 2019 and 2018. Forecast assumption that no <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Gilenya</font> generics enter in 2019; however, generic competitors may still launch at risk.</div>

<div>&#160;</div>

<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">1</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">&#160;</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Our strategy is to focus Novartis as a leading medicines company with five priorities: embrace operational excellence, deliver transformative innovation, go big on data science, build trust with society, and build a new culture by unleashing the power of our people. As part of the strategy to focus Novartis, the Alcon business was spun-off as a separate public company on April 9, following the shareholder vote on February 28. The spin-off allows shareholders to benefit from a standalone Alcon and a Novartis with capital and management attention fully focused on medicines.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">In order to comply with International Financial Reporting Standards (IFRS), Novartis has separated the Group&#8217;s reported financial data for the current and prior years into &#8220;continuing&#8221; and &#8220;discontinued&#8221; operations. The results of the Alcon business are reported as discontinued operations. See page 32 of the Condensed Interim Financial Report for a full explanation.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Novartis continues to expect the previously-announced divestment of the Sandoz US oral solids and dermatology portfolio to be completed during 2019, pending closing conditions including regulatory approvals. Novartis remains fully committed to this business until it is divested to Aurobindo. The results of this business are included in continuing operations until the time of the divestment.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff"><u>First quarter financials</u></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">The commentary below focuses on continuing operations including the businesses of Innovative Medicines and Sandoz (including the US generic oral solids and dermatology portfolio), as well as the continuing corporate functions. We also provide information on discontinued operations.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify"><u>Continuing operations</u></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">Net sales were USD 11.1 billion (+2%, +7% cc) in the first quarter driven by volume growth of 11 percentage points (cc), mainly from </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-STYLE: italic">Cosentyx, Entresto, Lutathera</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">, </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-STYLE: italic">Promacta</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000"> and</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-STYLE: italic"> Kisqali</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">. </font>Strong volume growth was partly offset by the negative impacts of pricing (-3 percentage points cc) and generic competition (-1 percentage point cc).</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Operating income was USD 2.2 billion (-5%, +4% cc) driven by higher Innovative Medicines sales and improved gross margin, partly offset by growth investments, a net impairment charge and lower divestment gains.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: justify">Net income was USD 1.9 billion, (-5%, +4% cc) broadly in line with operating income. EPS was USD 0.81 (-5%, +5% cc) in line with net income.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Core operating income was USD 3.3 billion (+9%, +18% cc) mainly driven by higher Innovative Medicines sales and improved gross margin, partly offset by growth and launch investments, including for <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Zolgensma</font>. Core operating income margin in constant currencies increased by 2.6 percentage points; currency had a negative impact of 0.6 percentage points, resulting in a net increase of 2.0 percentage points to 29.3% of net sales.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: justify">Core net income was USD 2.8 billion (+5%, +13% cc) as growth in core operating income was partly offset by the discontinuation of core income from the GSK consumer healthcare joint venture. Core EPS was USD 1.21 (+5%, +13% cc) in line with core net income.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">Free cash flow amounted to USD 1.9 billion broadly in line with the prior year, which included the receipt </font>of a sales milestone related to the Vaccines divestment to GSK.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000">Innovative Medicines</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000"> net </font>sales were USD 8.8 billion (+5%, +10% cc) in the first quarter, as Pharmaceuticals BU grew 11% (cc) mainly driven by <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Cosentyx </font>and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Entresto,</font> and Oncology BU grew 9% (cc)<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">&#160;</font>mainly driven by <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Lutathera, Promacta </font>and<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic"> Kisqali. </font>Volume contributed 12 percentage points (cc) to sales growth. Generic competition had a negative impact of 1 percentage point (cc). Pricing had a negative impact of 1 percentage point (cc).</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">Sandoz</font> net sales were USD 2.3 billion (-8%, -2% cc) in the first quarter as 9 percentage points (cc) of price erosion mainly in the US, were partially offset by volume growth of 7&#160;percentage points (cc). Excluding the US, net sales grew 4% (cc).<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#160;</font>Global sales of Biopharmaceuticals grew 11% (cc) driven by Europe with continued strong double-digit growth from <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Rixathon</font> (rituximab),<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic"> Hyrimoz</font> (adalimumab) and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Erelzi</font> (etanercept)<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">.</font></div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Results for discontinued operations in the first quarter of 2019 include a full quarter of results from the Alcon Division and certain Corporate costs directly attributable to Alcon.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Discontinued operations net sales in the first quarter amounted to USD 1.8 billion (0%, +4% cc), mainly driven by the Surgical business franchise.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Operating income was USD 71 million compared to USD 76 million in prior year, mainly as higher sales, as well as the discontinuation of amortization and depreciation as of March 1 (USD 118 million), were offset by higher one-time costs relating to the spin-off, higher legal costs and growth investments. &#160;&#160;</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Core operating income amounted to USD 350 million for discontinued operations (-3%, +7% cc) as higher sales and gross margin, as well as discontinuation of depreciation and software amortization from March 1 (USD 30 million) were partly offset by growth investments.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Net loss from discontinued operations amounted to a loss of USD 101 million compared to a net income of USD 58 million in prior year mainly due to higher one-time tax expenses.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">In connection with the Alcon spin-off on April 9, the Group will report as part of its Q2 discontinued operations results a one-time non-cash IFRS gain of approximately USD </font>4.7<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #ff0000">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">billion.</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left"><u>Total Group</u></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">For the total Group, net income amounted to USD 1.8 billion compared to USD 2.0 billion in the prior year, and basic earnings per share decreased to USD 0.77 from USD 0.87. Free cash flow for the total Group amounted to USD 1.8 billion.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Novartis has appointed Richard Saynor as CEO of Sandoz effective no later than August 1, 2019.&#160;He will be a member of the Executive Committee of Novartis and report to Vas Narasimhan, CEO, Novartis.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Richard Saynor, currently SVP Classic &amp; Established Products, Commercial &amp; Digital Platforms at GSK, brings over 20 years of global leadership experience spanning both generics and established pharmaceutical brands. He currently manages a USD 10 billion Established Products portfolio which comprises over 350 brands commercialized in over 120 countries. In addition, Richard oversees the commercial digital platforms across all of GSK&#8217;s pharmaceutical franchises.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">During his career, Richard has established a successful track record building strong interfaces between commercial and technical operations as well as driving commercial excellence across his organization.&#160;Richard has also built and led successful teams and organizations with a strong focus on inclusive culture and developing talent. Prior to GSK, Richard held Commercial Operations leadership roles at Sandoz and oversaw a strong expansion of Sandoz&#8217; generics business across Asia, Latin America and Turkey. Richard is a Pharmacist by training and started his pharma business career as a sales representative at G.D. Searle in the U.K.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">1</sup> Discontinued operations described on page 32 of the Condensed Interim Financial Report.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Underpinning our financial results in the first quarter is a continued focus on key growth drivers including:</div>

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<div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">Kymriah</font> (USD 45 million) strong demand continued and sales increased driven by new treatment sites in the EU, additional progress with reimbursement, providing coverage for at least one indication in 14 countries, increased manufacturing capacity and widened commercial specifications in the EU.</div>
</td>
</tr>
</table>
</div>

<div>
<table id="z66db7d555c9d460c98dbeec3d8d82544" class="DSPFListTable" style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; align: right">
<div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; TEXT-ALIGN: left">&#183;</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top">
<div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">Biopharmaceuticals</font> grew 11% (cc) to USD 351 million, driven by Europe with continued strong double-digit growth from <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Rixathon</font> (rituximab),<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic"> Hyrimoz</font> (adalimumab) and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Erelzi</font> (etanercept).</div>
</td>
</tr>
</table>
</div>

<div>
<table id="z0b6da56215494493921577c0d59c26ef" class="DSPFListTable" style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">
<div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; TEXT-ALIGN: left">&#183;</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top">
<div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">Emerging Growth Markets, </font>which comprise all markets except the US, Canada, Western Europe, Japan, Australia and New Zealand,<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">&#160;</font>sales grew 10% in cc (0% in USD), mainly driven by double digit growth (cc) in China.</div>
</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 6pt"><br>
</div>

<div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Net sales of the top 20 Innovative Medicines products in Q1</div>

<table id="ze5299baf61b34227a009944a071217ae" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">Q1 2019</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Q1 2018</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="6">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">% change</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">&#160;</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD m</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD m</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">cc</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Cosentyx</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">791</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">580</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">36</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">41</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Gilenya</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">766</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">821</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-7</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-3</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Lucentis</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">533</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">520</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">2</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">10</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Tasigna</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">434</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">466</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-7</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-3</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Sandostatin</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">392</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">400</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-2</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">2</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Afinitor/Votubia</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">373</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">375</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-1</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">3</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Entresto</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">357</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">200</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">79</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">85</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Galvus </font>Group</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">315</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">318</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-1</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">7</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Promacta/Revolade</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">307</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">257</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">19</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">24</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Gleevec/Glivec</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">307</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">392</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-22</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-18</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Tafinlar + Mekinist</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">297</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">267</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">11</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">18</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Xolair</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">281</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">255</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">10</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">20</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Exforge </font>Group</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">267</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">248</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">8</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">16</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Diovan </font>Group</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">261</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">265</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-2</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">6</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Jakavi</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">258</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">234</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">10</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">20</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Exjade/Jadenu</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">238</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">261</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-9</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-5</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Votrient</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">187</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">214</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-13</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-8</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Ilaris</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">151</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">126</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">20</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">28</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Zortress/Certican</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">116</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">109</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">6</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">14</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Travoprost Group</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">115</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">124</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-7</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-3</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Total Top 20</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">6 746</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">6 432</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">5</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">11</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div style="MARGIN-BOTTOM: 12pt"><br>
</div>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">4</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">&#160;</div>

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<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>
</div>

<div>
<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">
<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify"><u>Strengthen R&amp;D - Key developments from the first quarter</u></div>

<div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify"><u>New approvals and regulatory update</u></div>

<div>
<table id="z9ff5a92fe2da435cb779537d7ec861d2" class="DSPFListTable" style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 18pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; FONT-STYLE: normal; align: right">
<div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; TEXT-ALIGN: left">&#183;</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top">
<div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">Mayzent</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold"> (siponimod, formerly BAF312)</font> received FDA approval for the treatment of adults with relapsing forms of multiple sclerosis, including secondary progressive multiple sclerosis (SPMS) with active disease, relapsing remitting multiple sclerosis (RRMS) and clinically isolated syndrome (CIS). <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Mayzent</font> is the first oral drug to meaningfully delay disability progression in patients with typical SPMS.</div>
</td>
</tr>
</table>
</div>

<div>
<table id="z90cc0ccacd6d47cd92290c6d59eae12f" class="DSPFListTable" style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; align: right">
<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; TEXT-ALIGN: left">&#183;</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top">
<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">Cosentyx</font> received China National Medical Products Administration approval for moderate-to-severe plaque psoriasis in adult patients. The approval was supported by data from a Phase III study in China that showed 87% of patients achieved clear or almost clear skin during the first 16 weeks of treatment. <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Cosentyx</font> is the first biologic approved in China that specifically inhibits IL-17A.</div>
</td>
</tr>
</table>
</div>

<div>
<table id="z379bde37fb794498b0a05a5333799748" class="DSPFListTable" style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; align: right">
<div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; TEXT-ALIGN: left">&#183;</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top">
<div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">Kymriah</font> received Japan approval for the treatment of relapsed or refractory (r/r) DLBCL and (r/r) pediatric ALL. With this approval, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Kymriah</font> is the first and only CAR-T cell therapy to receive regulatory approval in Asia; and follows the successful technical transfer at the Foundation for Biomedical Research and Innovation at Kobe for the clinical manufacturing of <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Kymriah</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">.</font></div>
</td>
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</table>
</div>

<div>
<table id="z0f8f6422edfa4e30b9599351420655fb" class="DSPFListTable" style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; align: right">
<div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; TEXT-ALIGN: left">&#183;</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top">
<div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">Egaten</font> received FDA approval for the treatment of fascioliasis, commonly known as liver fluke infestation, with an estimated prevalence of 2.4 million globally. This approval reinforces the company's commitment to reduce the burden of neglected tropical diseases including fascioliasis, leprosy and malaria. A Priority Review Voucher (PRV) was awarded based upon this approval.</div>
</td>
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</table>
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<div>
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<td style="WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">
<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; TEXT-ALIGN: left">&#183;</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top">
<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">Capmatinib (INC280)</font> was granted orphan-drug designation by FDA for the treatment of non-small cell lung cancer with cMET genomic tumor aberrations.</div>
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</table>
</div>

<div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: justify"><u>Regulatory submissions and filings</u></div>

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<td style="WIDTH: 18pt; VERTICAL-ALIGN: top; FONT-WEIGHT: normal; align: right">
<div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: Symbol, serif; TEXT-ALIGN: left">&#183;</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top">
<div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000">Brolucizumab (RTH258) </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">was filed in Europe, and in the US in April with a </font>Priority Review Voucher, with launch expected within 2019.</div>
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<div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">Sandoz proposed biosimilar pegfilgrastim </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">(Amgen&#8217;s Neulasta</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;COLOR: #000000">&#174;</sup><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">) </font>was resubmitted to FDA in April, following the complete response letter received in June 2016.</div>
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<div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify"><u>Results from ongoing trials and other highlights</u></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">Zolgensma</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; FONT-STYLE: italic">1</sup><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">&#160;</font>(AVXS-101) <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">interim analyses</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #1f497d">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">from the Phase III STR1VE study was presented in April at the Muscular Dystrophy Association congress. Data supports </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-STYLE: italic">Zolgensma </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">as foundational therapy for SMA Type 1 and showed widespread SMN expression in a treated patient. Over 150 patients have now been treated with </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-STYLE: italic">Zolgensma </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">and only 5% were excluded due to AAV9 antibody titers. Additional data to be presented at the American Academy of Neurology in early May, including results from the STRONG trial in SMA type 2 and the SPRINT trial in pre-symptomatic patients.</font></div>
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<div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">Entresto</font> PIONEER-HF 4-week open-label extension data were presented at the American College of Cardiology reinforcing initial 8-week findings, showing in-hospital initiation of <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Entresto</font> continued to deliver reductions in re-hospitalization and NT-proBNP, an established biomarker used to assess the severity and determine the prognosis of heart failure.</div>
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<div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">TQJ230</font> (formerly known as AKCEA-APO(a)-LRx) option was exercised to license the global rights to develop and commercialize this potentially transformational therapy to reduce risk of cardiovascular disease in people living with elevated levels of inherited lipoprotein(a). If approved TQJ230 is expected to be the first in class treatment specifically targeting elevated Lp(a).&#160;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">1</sup><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">&#160;</sup><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">The brand name </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Zolgensma</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> has been provisionally approved by the FDA for the investigational product AVXS-101 (onasemnogene abeparvovec-xioi), but the product itself has not received marketing authorization or BLA approval from any regulatory authorities.</font></div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">5</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left"><u>Capital structure and net debt</u></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Retaining a good balance between investment in the business, a strong capital structure and attractive shareholder returns remains a priority.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">In Q1 2019, Novartis repurchased a total of 2.2 million shares for USD 0.2 billion, including 0.8 million shares (USD 0.1 billion) bought back under the up-to USD 5 billion share buyback announced in June 2018 on the SIX Swiss Exchange second trading line and 1.4 million shares (USD 0.1 billion) repurchased from associates. In the same quarter, 13.8 million shares (for an equity value of USD 0.5 billion) were delivered as a result of options exercised and share deliveries related to participation plans of associates. Novartis aims to offset the dilutive impact from equity based participation plans of associates over the remainder of the year. The total number of shares outstanding increased by 11.6 million versus December 31, 2018. These treasury share transactions resulted in an equity increase of USD 0.3 billion while cash inflows and outflows related to share transactions mostly offset each other.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">The previously announced share buyback of up-to USD 5 billion in June 2018 is expected to be completed in 2019.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Also in Q1 2019, Novartis repaid the USD 3.0 billion, 5.125% coupon bond issued in February 2009 at maturity.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">As of March 31, 2019, the net debt increased by USD 5.3 billion to USD 21.5 billion versus December 31, 2018. The increase was mainly driven by the USD 6.6 billion annual dividend payment, partly offset by USD 1.9 billion free cash flow from continuing operations in Q1 2019.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Balance sheet impacts of the Alcon spin off will be included in the second quarter results. As part of the spin off, Alcon incurred total bank debt of approximately USD 3.5 billion and paid approximately USD 3.1 billion in cash, including payment in satisfaction of certain intercompany indebtedness owed by Alcon and its subsidiaries to Novartis and its affiliates. This reduced the net debt position of Novartis by approximately USD 3.0 billion.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">As of Q1 2019, the long-term credit rating for the company is A1 with Moody&#8217;s Investors Service and AA- with S&amp;P Global Ratings.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left"><u>2019 Outlook</u></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Barring unforeseen events</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">New focused medicines company guidance</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: justify">Excluding Alcon and the Sandoz US oral solids and dermatology business from both 2018 and 2019</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Net sales in 2019 are expected to grow mid-single digit (cc).</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">From a divisional perspective, we expect net sales performance (cc) in 2019 to be as follows:</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Innovative Medicines: grow mid single digit</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Sandoz: broadly in line with prior year</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Core operating income guidance revised upwards: expected to grow high single digit (cc).</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">The guidance above includes the forecast assumption that no <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Gilenya</font> generics enter in 2019 in the US. However, generic competitors may still launch at risk.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Foreign Exchange impact</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">If mid-April exchange rates prevail for the remainder of 2019, the currency impact for the year would be negative 3 percentage points on net sales and negative 3 to 4 percentage points on core operating income. The estimated impact of exchange rates on our results is provided monthly on our website.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">6</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff"><u>Summary Financial Performance</u></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff">&#160;</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Continuing operations<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">1</sup></div>
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<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">Q1 2019</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Q1 2018</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">% change</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD m</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD m</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">cc</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Net sales</div>
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<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">11 106</div>
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<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">10 915</div>
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<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
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<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">2</div>
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<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">7</div>
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</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Operating income</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">2 242</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">2 371</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">-5</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">4</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left; TEXT-INDENT: 9pt">As a % of sales</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">20.2</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">21.7</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Core operating income</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">3 254</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">2 980</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">9</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">18</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left; TEXT-INDENT: 9pt">As a % of sales</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">29.3</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">27.3</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Net income</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">1 868</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">1 970</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">-5</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">4</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">EPS (USD)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">0.81</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">0.85</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">-5</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">5</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Core Net income</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">2 811</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">2 684</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">5</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">13</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Core EPS (USD)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">1.21</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">1.15</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">5</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">13</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Cash flows from operating activities</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">2 334</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">2 381</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">-2</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Free cash flow</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">1 869</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">1 919</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">-3</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom" colspan="6">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Innovative Medicines</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">Q1 2019</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Q1 2018</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom" colspan="6">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">% change</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD m</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD m</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">cc</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Net sales</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">8 780</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">8 398</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">5</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">10</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Operating income</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">2 109</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">2 135</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">-1</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">8</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left; TEXT-INDENT: 9pt">As a % of sales</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">24.0</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">25.4</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Core operating income</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">2 922</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">2 631</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">11</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">19</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left; TEXT-INDENT: 9pt">As a % of sales</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">33.3</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">31.3</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom" colspan="6">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Sandoz</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">Q1 2019</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Q1 2018</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom" colspan="6">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">% change</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD m</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD m</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">cc</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Net sales</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">2 326</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">2 517</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">-8</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">-2</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Operating income</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">273</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">409</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">-33</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">-25</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left; TEXT-INDENT: 9pt">As a % of sales</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">11.7</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">16.2</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Core operating income</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">461</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">499</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">-8</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">1</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left; TEXT-INDENT: 9pt">As a % of sales</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">19.8</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">19.8</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Corporate</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">Q1 2019</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Q1 2018</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom" colspan="6">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">% change</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD m</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD m</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">cc</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Operating loss</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">-140</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">-173</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">19</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">15</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Core operating loss</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">-129</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">-150</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">14</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">10</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Discontinued operations<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">1</sup></div>
</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">Q1 2019</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Q1 2018</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom" colspan="6">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">% change</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD m</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD m</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">cc</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Net sales</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000">1 777</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">1 779</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">0</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">4</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Operating income</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">71</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">76</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: right">nm</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: right">nm</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left; TEXT-INDENT: 9pt">As a % of sales</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">4.0</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">4.3</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Core operating income</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000">350</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">360</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">-3</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">7</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left; TEXT-INDENT: 9pt">As a % of sales</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">19.7</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">20.2</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom" colspan="6">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Total Group</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">Q1 2019</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Q1 2018</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom" colspan="6">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">% change</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: right">USD m</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: right">USD m</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: right">USD</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: right">cc</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Net income</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">1 767</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">2 028</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">-13</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">-3</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">EPS (USD)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">0.77</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">0.87</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">-11</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">-3</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Core Net Income</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">3 089</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">2 982</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">4</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">12</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Core EPS (USD)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">1.33</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">1.28</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">4</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">12</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Cash flows from operating activities</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">2 412</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">2 514</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">-4</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Free cash flow</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">1 807</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">1 915</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">-6</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">nm = not meaningful</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
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<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
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<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom" colspan="16">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">1</sup> Continuing operations include the businesses of Innovative Medicines and Sandoz divisions and Corporate activities and discontinued operations include the business of Alcon. See page 32 of the Condensed Interim Financial Report for full explanation</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Detailed financial results accompanying this press release are included in the condensed interim financial report at the link below:</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-VARIANT: normal; FONT-WEIGHT: normal; COLOR: #0000ff; FONT-STYLE: normal; TEXT-ALIGN: left"><u>http://hugin.info/134323/R/2242311/884910.pdf</u></div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Disclaimer</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: justify; MARGIN-LEFT: 2.85pt; MARGIN-RIGHT: 2.85pt">This press release 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 &#8220;guidance,&#8221; &#8220;transformation,&#8221; &#8220;continued,&#8221; &#8220;potential&#8221;, &#8220;launches,&#8221; &#8220;on track&#8221; &#8220;launched,&#8221; &#8220;filed,&#8221; &#8220;launch,&#8221; &#8220;expected,&#8221; &#8220;to grow,&#8221; &#8220;will,&#8221; &#8220;enter,&#8221; &#8220;pipeline,&#8221; &#8220;commitment,&#8221; &#8220;well positioned,&#8221; &#8220;future,&#8221; &#8220;strategy,&#8221; &#8220;priorities,&#8221; &#8220;embrace,&#8221; &#8220;deliver,&#8221; &#8220;go big,&#8221; &#8220;build,&#8221; &#8220;allows,&#8221; &#8220;expect,&#8221; &#8220;to be completed,&#8221;&#160; &#8220;closing conditions,&#8221; &#8220;committed,&#8221; &#8220;continued,&#8221; &#8220;growth drivers,&#8221; &#8220;Priority Review Voucher,&#8221; &#8220;submissions,&#8221; &#8220;filings,&#8221; &#8220;to be presented,&#8221; &#8220;potentially,&#8221; &#8220;if approved,&#8221; &#8220;aims,&#8221; &#8220;outlook,&#8221; &#8220;unforeseen,&#8221; &#8220;forecast,&#8221; &#8220;may,&#8221; &#8220;would,&#8221; &#8220;continues,&#8221; &#8220;aiming,&#8221; &#8220;vision,&#8221; &#8220;priority review,&#8221; &#8220;PRIME designation,&#8221; &#8220;Sakigake designation,&#8221; &#8220;enrollment,&#8221; &#8220;planned,&#8221; &#8220;upcoming,&#8221; &#8220;Fast Track designation,&#8221; &#8220;Orphan designation,&#8221; &#8220;scheduled,&#8221; or similar expressions, or by express or implied discussions regarding potential new products, potential new indications for existing products, or regarding potential future revenues from any such products; or regarding the potential outcome, or financial or other impact on Novartis, of the spinoff of our Alcon Division, or of the proposed divestiture of certain portions of our Sandoz Division business in the US; or regarding the potential impact of the share buyback plan; 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.&#160; In particular, our expectations could be affected by, among other things: global trends toward healthcare cost containment, including ongoing government, payer 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 release; the potential that the strategic benefits, synergies or opportunities expected from the Alcon and Sandoz transactions 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 regarding actual or potential legal proceedings, including, among others, actual or potential litigation with respect to the proposed transactions, product liability litigation, litigation and investigations regarding sales and marketing practices, intellectual property disputes and government investigations generally; uncertainties involved in the development or adoption of potentially transformational technologies and business models; 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&#8217;s current Form 20-F on file with the US Securities and Exchange Commission. Novartis is providing the information in this press release 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.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">About Novartis</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Novartis is reimagining medicine to improve and extend people&#8217;s lives. As a leading global medicines company, we use innovative science and digital technologies to create transformative treatments in areas of great medical need. In our quest to find new medicines, we consistently rank among the world&#8217;s top companies investing in research and development. Novartis products reach more than 750 million people globally and we are finding innovative ways to expand access to our latest treatments. About 105,000 people of more than 140 nationalities work at Novartis around the world. Find out more at <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #0000ff"><u>www.novartis.com</u></font>.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Novartis will conduct a conference call with investors to discuss this news release today at 14:00 Central European time and 8:00 Eastern Time. A simultaneous webcast of the call for investors and other interested parties may be accessed by visiting the Novartis website. A replay will be available after the live webcast by visiting.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-VARIANT: normal; FONT-WEIGHT: normal; COLOR: #0000ff; FONT-STYLE: normal; TEXT-ALIGN: justify"><u>https://www.novartis.com/investors/event-calendar</u></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Detailed financial results accompanying this press release are included in the condensed interim financial report at the link below. Additional information is provided on Novartis divisions and pipeline of selected compounds in late stage development and a copy of today's earnings call presentation can be found at.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-VARIANT: normal; FONT-WEIGHT: normal; COLOR: #0000ff; FONT-STYLE: normal; TEXT-ALIGN: justify"><u>https://www.novartis.com/investors/event-calendar</u></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Important dates</div>

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<div>May 8, 2019</div>
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<div>American Academy of Neurology (AAN) investor conference call</div>
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<div>May 22-23, 2019</div>
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<div>Meet Novartis Management investor event in Boston</div>
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<div>American Society of Clinical Oncology (ASCO) investor event</div>
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<div>Second quarter results 2019</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #ffffff; TEXT-ALIGN: center; BACKGROUND-COLOR: #999999">CONDENSED INTERIM FINANCIAL REPORT &#8211; SUPPLEMENTARY DATA</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left"><u>Novartis Q1 2019 Condensed Interim Financial Report &#8211; Supplementary Data</u></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 15.9pt">Innovative Medicines</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">4</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">INNOVATION REVIEW</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 15.85pt">Notes to condensed interim consolidated financial statements, including update on legal proceedings</div>
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<td style="WIDTH: 91.82%; VERTICAL-ALIGN: middle">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 15.9pt">Sandoz</div>
</td>
<td style="WIDTH: 8.18%; VERTICAL-ALIGN: middle">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">46</div>
</td>
</tr>

<tr>
<td style="WIDTH: 91.82%; VERTICAL-ALIGN: middle">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 15.9pt">Corporate</div>
</td>
<td style="WIDTH: 8.18%; VERTICAL-ALIGN: middle">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">47</div>
</td>
</tr>

<tr>
<td style="WIDTH: 91.82%; VERTICAL-ALIGN: middle">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 15.9pt">Discontinued operations</div>
</td>
<td style="WIDTH: 8.18%; VERTICAL-ALIGN: middle">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">48</div>
</td>
</tr>

<tr>
<td style="WIDTH: 91.82%; VERTICAL-ALIGN: middle">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">ADDITIONAL INFORMATION</div>
</td>
<td style="WIDTH: 8.18%; VERTICAL-ALIGN: middle">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 91.82%; VERTICAL-ALIGN: middle">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 15.9pt">Income from associated companies</div>
</td>
<td style="WIDTH: 8.18%; VERTICAL-ALIGN: middle">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">49</div>
</td>
</tr>

<tr>
<td style="WIDTH: 91.82%; VERTICAL-ALIGN: middle">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 15.9pt">Condensed consolidated changes in net debt / Share information</div>
</td>
<td style="WIDTH: 8.18%; VERTICAL-ALIGN: middle">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">50</div>
</td>
</tr>

<tr>
<td style="WIDTH: 91.82%; VERTICAL-ALIGN: middle">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 15.9pt">Free cash flow</div>
</td>
<td style="WIDTH: 8.18%; VERTICAL-ALIGN: middle">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">51</div>
</td>
</tr>

<tr>
<td style="WIDTH: 91.82%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 15.9pt">Currency translation rates</div>
</td>
<td style="WIDTH: 8.18%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">52</div>
</td>
</tr>

<tr>
<td style="WIDTH: 91.82%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">DISCLAIMER</div>
</td>
<td style="WIDTH: 8.18%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">53</div>
</td>
</tr>
</table>

<div><br>
</div>
</div>

<div>
<div>&#160;</div>

<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">1</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">&#160;</div>

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</div>
</div>
</div>

<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left"><u>Novartis Q1 2019 Condensed Interim Financial Report &#8211; Supplementary Data</u></div>

<div><br>
</div>

<table id="zbe073a2a948d4a3091dbbec44d3ed248" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="VERTICAL-ALIGN: middle" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">Key figures </font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;COLOR: #000000">1</sup></div>
</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">Q1 2019</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Q1 2018</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="6">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">% change</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: right">&#160;</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: right">USD m</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD m</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">cc<sup style="vertical-align: text-top; line-height: 1; font-size: smaller"> 2</sup></div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Net sales to third parties from continuing operations</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">11 106</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">10 915</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">2</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">7</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">Divisional operating income from continuing operations</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">2 382</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">2 544</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">- 6</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">2</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">Corporate income and expense, net from continuing operations</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">- 140</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">- 173</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">19</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">15</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Operating income from continuing operations</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">2 242</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">2 371</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">- 5</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">4</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-STYLE: italic; TEXT-ALIGN: left">&#160;&#160;&#160;&#160;As % of net sales</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">20.2</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">21.7</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">Income from associated companies</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">80</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">152</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">- 47</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">- 47</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">Interest expense</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">- 226</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">- 218</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">- 4</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">- 5</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">Other financial income and expense</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">44</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">35</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">26</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">29</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">Taxes</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">- 272</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">- 370</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">26</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">19</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Net income from continuing operations</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">1 868</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">1 970</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">- 5</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">4</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">Net loss / income from discontinued&#160; operations</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; FONT-WEIGHT: normal; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-101</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; FONT-WEIGHT: normal; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">58</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid; FONT-WEIGHT: normal; BACKGROUND-COLOR: #cceeff" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">nm</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">nm</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Net income</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">1 767</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">2 028</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">-13</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">-3</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Basic earnings per share from continuing operations (USD)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">0.81</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">0.85</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">- 5</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">5</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">Basic loss / earnings per share from discontinued operations (USD)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; FONT-WEIGHT: normal; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-0.04</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">0.02</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">nm</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">nm</div>
</td>
<td style="VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Basic earnings per share (USD)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">0.77</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">0.87</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">-11</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">-3</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Cash flows from operating activities from continuing operations</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">2 334</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">2 381</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">-2</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Free cash flow from continuing operations <sup style="vertical-align: text-top; line-height: 1; font-size: smaller">2</sup></div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">1 869</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">1 919</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">- 3</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>Core</u></font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller"><u>2</u></sup></div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Core operating income from continuing operations</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">3 254</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">2 980</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">9</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">18</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-STYLE: italic; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">&#160;&#160;&#160;&#160;</font>As % of net sales</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">29.3</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">27.3</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Core net income from continuing operations</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">2 811</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">2 684</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">5</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">13</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Core net income from discontinued operations</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">278</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">298</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">- 7</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">4</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Core net income</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">3 089</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">2 982</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">4</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">12</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Core basic earnings per share from continuing operations (USD)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">1.21</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">1.15</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">5</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">13</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left">Core basic earnings per share from discontinued operations (USD)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">0.12</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">0.13</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-8</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">4</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Core basic earnings per share (USD)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">1.33</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">1.28</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">4</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">12</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: justify">nm = not meaningful</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">1</sup> Continuing operations include the businesses of Innovative Medicines and Sandoz divisions and Corporate activities and discontinued operations include the business of Alcon. See page 32 for full explanation.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">2</sup> Constant currencies (cc), core results and free cash flow are non-IFRS measures. An explanation of non-IFRS measures can be found on page 41. Unless otherwise noted, all growth rates in this release refer to same period in prior year.</div>

<br>
</div>

<div>In order to comply with International Financial Reporting Standards (IFRS), Novartis has separated the Group&#8217;s reported financial data for the current and prior years into &#8220;continuing&#8221; and &#8220;discontinued&#8221; operations. The results of the Alcon business are reported as discontinued operations. See page 32 for a full explanation.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Novartis continues to expect the previously-announced divestment of the Sandoz US oral solids and dermatology portfolio to be completed during 2019, pending closing conditions including regulatory approvals. Novartis remains fully committed to this business until it is divested to Aurobindo. The results of this business are included in continuing operations until the time of the divestment.</div>

<div style="BACKGROUND-COLOR: #ffffff"><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff"><u>First quarter financials</u></div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">The commentary below focuses on continuing operations including the businesses of Innovative Medicines and Sandoz (including the US generic oral solids and dermatology portfolio), as well as the continuing Corporate functions. We also provide information on discontinued operations.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify"><u>Continuing operations</u></div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff">Net sales</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">Net sales were USD 11.1 billion (+2%, +7% cc) in the first quarter driven by volume growth of 11 percentage points (cc), mainly from </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-STYLE: italic">Cosentyx, Entresto, Lutathera</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">, </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-STYLE: italic">Promacta</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000"> and</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-STYLE: italic"> Kisqali</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">. </font>Strong volume growth was partly offset by the negative impacts of pricing (-3 percentage points cc) and generic competition (-1 percentage point cc).</div>
</div>

<div>
<div>
<div>&#160;</div>

<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">2</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>
</div>
</div>

<div>
<div>
<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: justify">Corporate income and expense, net</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: justify">Corporate income and expense, which includes the cost of Group management and central services, amounted to an expense of USD 140 million in the first quarter compared to an expense of USD 173 million in prior year mainly driven by favorable contributions from the Novartis Venture Fund and lower restructuring costs. &#160;</div>

<div><br>
</div>

<div style="BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Operating income</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Operating income was USD 2.2 billion (-5%, +4% cc) driven by higher Innovative Medicines sales and improved gross margin, partly offset by growth investments, a net impairment charge and lower divestment gains. <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">Operating income margin in constant currencies decreased 0.7 percentage points;</font> c<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">urrency had a negative impact of 0.8 percentage points</font>, resulting in a net decrease of 1.5 percentage points to 20.2% of net sales. <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">Core adjustments amounted to USD 1.0 billion (2018: USD 0.6 billion). </font></div>
</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff">Core operating income was USD 3.3 billion (+9%, +18% cc) mainly driven by higher Innovative Medicines sales and improved gross margin, partly offset by growth and launch investments, including for <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Zolgensma</font>. Core operating income margin in constant currencies increased by 2.6 percentage points; currency had a negative impact of 0.6 percentage points, resulting in a net increase of 2.0 percentage points to 29.3% of net sales.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Income from associated companies</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: justify">Income from associated companies decreased from USD 152 million in prior year to USD 80 million in the first quarter of 2019. The decrease was mainly due to the discontinuation of income from the GSK consumer healthcare joint venture which was divested by Novartis in 2018.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: justify">The share of income from Roche Holding AG increased from USD 25 million to USD 80 million. The estimated first quarter income for Roche Holding AG, net of amortization, was USD 166 million compared to USD 150 million in prior year, and was partly offset by the negative prior year true up of USD 129 million in the first quarter of 2019, compared to a negative prior year true up of USD 125 million recognized in the first quarter of 2018. In addition a USD 43 million revaluation of deferred tax liability, recognized upon initial accounting of the Roche investment, was recorded in the first quarter of 2019, following a change in the enacted tax rate in February 2019 of the Swiss Canton Basel-Stadt, effective January 1, 2019.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: justify">Core income from associated companies decreased to USD 278 million from USD 375 million in prior year due to the discontinuation of core income from the GSK consumer healthcare joint venture. The core income contribution from Roche Holding AG increased to USD 278 million from USD 237 million in prior year, due to the recognition of a favorable prior year core income true up of USD 32 million compared to a favorable true up of USD 8 million in the first quarter of 2018, and higher estimated core income contribution from Roche for the current period.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Interest expense and other financial income/expense</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">Interest expense increased to USD 226 million from USD 218 million in prior year, mainly </font>due to the additional interest expense <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">on lease liabilities of USD 16 million, following the implementation of IFRS 16 Leases as of January 1, 2019, partly offset by lower interest expense on outstanding debt.</font></div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: justify">Taxes</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: justify">The tax rate for continuing operations in the first quarter was 12.7% compared to 15.8% in prior year. In February 2019, the Swiss canton Basel-Stadt enacted a tax rate reduction, effective January 1, 2019. This required a revaluation of the deferred tax assets and liabilities to the newly enacted tax rate at the date of enactment, which resulted in a net tax benefit of USD 59 million.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: justify">Excluding the impact of this rate change, the first quarter tax rate would have been 15.4% compared to 15.8% in the prior year. The decrease from prior year was mainly the result of a change in profit mix.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: justify">The core tax rate for continuing operations was 16.1% compared to 15.4% in prior year.</div>

<div style="BACKGROUND-COLOR: #ffffff">
<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: justify">Net income and EPS</div>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: justify">Net income was USD 1.9 billion, (-5%, +4% cc) broadly in line with operating income. EPS was USD 0.81 (-5%, +5% cc) in line with net income.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: justify">Core net income was USD 2.8 billion (+5%, +13% cc) as growth in core operating income was partly offset by the discontinuation of core income from the GSK consumer healthcare joint venture. Core EPS was USD 1.21 (+5%, +13% cc) in line with core net income.</div>
</div>

<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">3</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">&#160;</div>

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<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
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</div>
</div>

<div>
<div>
<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: justify">Free cash flow amounted to USD 1.9 billion broadly in line with the prior year, which included the receipt of a sales milestone related to the Vaccines divestment to GSK.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify"><u>Continuing operations</u></div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left"><u>Innovative Medicines</u></div>

<table id="zbe12d8da8b374549bc5adbc16e15a58e" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">Q1 2019</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Q1 2018</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="6">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">% change</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD m</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD m</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">cc</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Net sales</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">8 780</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">8 398</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">5</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">10</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Operating income</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">2 109</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">2 135</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">-1</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">8</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;&#160;As % of net sales</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">24.0</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">25.4</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Core operating income</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">2 922</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">2 631</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">11</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">19</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;&#160;As % of net sales</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">33.3</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">31.3</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify"><u>First quarter</u></div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff">Net sales</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Net sales were USD 8.8 billion (+5%, +10% cc) in the first quarter, as Pharmaceuticals grew 5% (11% cc) and Oncology grew 4% (9% cc). Volume contributed 12 (cc) percentage points to sales growth, mainly driven by <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Cosentyx</font>, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Entresto </font>and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Lutathera</font>. Generic competition had a negative impact of 1 (cc) percentage point. Pricing had a negative impact of 1 (cc) percentage point.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Regionally, US sales (USD 3.0 billion, +13%) delivered a strong performance driven by <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Cosentyx</font> and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Entresto</font>. Europe sales (USD 3.1 billion, +1%, +11% cc) benefited from continued strong performance of <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Cosentyx, Entresto</font>, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Lucentis</font> and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Tafinlar + Mekinist</font>. Japan sales were USD 0.6 billion (-1%, 1% cc). Emerging Growth Markets sales were USD 2.2 billion (+1%, +12% cc), led by double-digit cc growth in China.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Pharmaceuticals BU sales were USD 5.5 billion (+5%, +11% cc). <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Cosentyx</font> (USD 791 million, +36%, +41% cc) grew double-digit across all indications. <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Entresto</font> (USD 357 million, +79% +85% cc) continued to deliver strong double-digit performance, benefiting from the PIONEER data on hospital initiation. <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Xolair</font> (USD 281 million, +10%, +20% cc) continued double-digit growth. <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Lucentis</font> continued to grow (USD 533 million, +2%, +10% cc) and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Gilenya</font> (USD 766 million, -7%, -3% cc) declined.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Oncology BU sales were USD 3.3 billion (+4%, +9% cc). Growth was mainly driven by <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Lutathera</font> (USD 106 million), <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Promacta/Revolade</font> (USD 307 million, +19%, +24% cc), <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Kisqali</font> (USD 91 million), <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Tafinlar + Mekinist</font> (USD 297 million, +11%, +18% cc)<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">,</font>&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Jakavi</font> (USD 258 million, +10%, +20% cc) and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Kymriah </font>(USD 45 million).</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Operating income</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Operating income was USD 2.1 billion (-1%, +8% cc), mainly driven by continued strong sales growth partly offset by a net impairment charge and higher growth investments, including for <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Zolgensma</font>. Operating income margin in constant currencies decreased <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BACKGROUND-COLOR: #ffffff">by 0.6 percentage points; currency had a negative impact of 0.8 percentage points, resulting in a net decrease of</font> 1.4 percentage points to 24.0% of net sales.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; BACKGROUND-COLOR: #ffffff">Core adjustments were USD 813 million,</font> including USD 457 million for amortization. Prior year core adjustments were USD 496 million. Core adjustments increased compared to prior year mainly due to a net impairment charge. Core operating income was USD 2.9 billion (+11%, +19% cc). Core operating income margin in constant currencies increased by 2.6 percentage points; currency had a negative impact of 0.6 percentage points. This results in a core margin of 33.3% of net sales, 2.0 percentage points above prior year.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">&#160;</div>

<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Core gross margin as a percentage of net sales increased by 1.0 percentage points (cc), mainly driven by productivity. Core R&amp;D expenses decreased by 1.6 percentage points (cc) mainly driven by sales leverage, productivity and portfolio prioritization. Core SG&amp;A expenses declined by 0.5 percentage points (cc) mainly driven by productivity and sales leverage. Core Other Income and Expense, net decreased the margin by 0.5 percentage points (cc) mainly due to <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Zolgensma</font> prelaunch inventory provisions and lower out-licensing income.</div>
</div>

<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">4</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify"><u>ONCOLOGY BUSINESS UNIT</u></div>

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</div>

<table id="zc95d456345e44e4285487cb9abf6c507" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
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<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
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<tr>
<td style="VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
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<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">Q1 2019</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Q1 2018</div>
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<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="6">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">% change</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD m</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD m</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">cc</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Tasigna</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">434</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">466</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-7</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-3</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Sandostatin</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">392</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">400</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-2</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">2</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Afinitor/Votubia</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">373</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">375</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-1</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">3</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Promacta/Revolade</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">307</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">257</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">19</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">24</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Gleevec/Glivec</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">307</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">392</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-22</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-18</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Tafinlar + Mekinist<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">1</sup></div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">297</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">267</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">11</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">18</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Jakavi</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">258</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">234</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">10</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">20</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Exjade/Jadenu</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">238</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">261</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-9</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-5</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Votrient</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">187</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">214</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-13</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-8</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Lutathera</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">106</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">6</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">nm</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">nm</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Kisqali</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">91</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">44</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">107</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">115</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Kymriah</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">45</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">12</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">275</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">282</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Other</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">286</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">263</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">9</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">14</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1.5pt solid; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Total Oncology business unit</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">3 321</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">3 191</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">4</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">9</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">&#160;&#160;</sup><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">1</sup>Majority of sales for <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Mekinist</font> and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Tafinlar</font> are combination, but both can be used as a monotherapy</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: justify">&#160;nm = not meaningful</div>

<div><br>
</div>

<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">Tasigna</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">&#160;</font>(USD 434 million, -7%, -3% cc) declined in the US, partially offset by growth in Europe.</div>

<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">Sandostatin</font> (USD 392 million, -2%, +2% cc) grew mainly driven by the US, partly offset by competitive pressure in other regions.</div>

<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">Afinitor/Votubia</font> (USD 373 million, -1%, +3% cc) grew solidly mainly driven by US growth in the TSC (tuberous sclerosis complex) indication, partly offset by generic competition in Europe.</div>

<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; MARGIN-TOP: 12pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">Promacta/Revolade</font> (USD 307 million, +19%, +24% cc) grew at a strong double-digit rate across all regions driven by increased use in chronic immune thrombocytopenia.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">Gleevec/Glivec</font> (USD 307 million, -22%, -18% cc) declined due to generic competition in most major markets.</div>

<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; MARGIN-TOP: 12pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">Tafinlar + Mekinist</font> (USD 297 million, +11%, +18% cc) continued double-digit growth due to continued demand in metastatic melanoma and NSCLC<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">,</font> and strong uptake of the adjuvant melanoma indication in the US and Europe.</div>

<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; MARGIN-TOP: 12pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">Jakavi</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">&#160;</font>(USD 258 million, +10%, +20% cc) continued double-digit growth across all regions driven by the myelofibrosis and polycythemia vera indications.</div>

<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">Exjade/Jadenu</font> (USD 238 million, -9%, -5% cc) declined mainly due to pressures from the anticipation of generics in the US and generic competition in other regions. &#160;</div>

<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; MARGIN-TOP: 12pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">Votrient </font>(USD 187 million, -13%, -8% cc) sales declined mainly driven by competitive pressure in the US.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">Lutathera</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">&#160;</font>(USD 106 million)<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">&#160;</font>continued to accelerate led by the US with over 120 centers actively treating and the European launch progressing well. Sales from all AAA brands (including <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Lutathera</font> and radiopharmaceutical diagnostic products) were USD 163 million.</div>

<div><br>
</div>

<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">Kisqali</font> (USD 91 million, +107%, +115% cc) grew driven by use in first line metastatic breast cancer patients, independent of menopausal status or combination partner.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">Kymriah</font> (USD 45 million) strong demand continued and sales increased driven by new treatment sites in the EU, additional progress with reimbursement, providing coverage for at least one indication in 14 countries, increased manufacturing capacity and widened commercial specifications in the EU. We continue to engage with the FDA, aiming to change the specifications in the US. Japan approved <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Kymriah</font> for PedALL and DLBCL patients, making it the only CAR-T approved in Asia. Additionally, we completed the acquisition of the CellforCure manufacturing facility.</div>
</div>

<div>&#160;</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">5</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">&#160;</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify"><u>PHARMACEUTICAL BUSINESS UNIT</u></div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">OPHTHALMOLOGY</div>

<table id="zd79563f7a6b2490c8939da4928d9d30a" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">Q1 2019</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Q1 2018</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="6">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">% change</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD m</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD m</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">cc</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Lucentis</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">533</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">520</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">2</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">10</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Travoprost Group</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">115</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">124</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-7</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-3</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Other</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">513</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">513</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">0</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">5</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1.5pt solid; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Total Ophthalmology</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">1 161</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">1 157</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">0</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">7</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div><br>
</div>

<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; MARGIN-TOP: 2pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">Lucentis</font> (USD 533 million, +2%, +10% cc) delivered double-digit<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #ff0000">&#160;</font>growth mainly driven by strong market growth.&#160;</div>

<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">Travoprost Group </font>(USD 115 million, -7%, -3% cc) declined mainly due to generic competition in Europe and increased competition in the US.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">NEUROSCIENCE</div>

<table id="z8b1c6243cf2047e5a5706c9824844a8e" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">Q1 2019</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Q1 2018</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="6">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">% change</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD m</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD m</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">cc</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Gilenya</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">766</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">821</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-7</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-3</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Aimovig<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">1</sup></div>
</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">18</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">nm</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">nm</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Other</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">13</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">20</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-35</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-33</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1.5pt solid; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Total Neuroscience</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">797</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">841</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">-5</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">-1</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: justify"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">1</sup>Excluding the US and Japan</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: justify">nm = not meaningful</div>

<div><br>
</div>

<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">Gilenya </font>(USD 766 million, -7%, -3% cc) declined as volume growth in EU was offset by a decline in US due to competitive pressures and stock in trade movements. In the US, the ANDA proceedings challenging the compound patent (which including extensions expires in 2019) have been finally resolved and the patent upheld.</div>

<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">Aimovig</font> (USD 18 million) with more than 200,000 patients treated worldwide in the post-trial setting, has now been launched in 27 countries for the preventative treatment of migraine in adults. <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Aimovig</font> was successfully launched in the US in May 2018, and ex-US launches are now underway, including additional regulatory filings and local reimbursement procedures. <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Aimovig </font>is co-commercialized with Amgen in the US, where Amgen records sales, and Novartis has exclusive commercialization rights for all territories excluding US and Japan. A termination notice issued by Amgen on April 2, 2019 based on an alleged material breach of the collaboration agreements is the subject matter of legal proceedings between Novartis and Amgen. Novartis disputes the allegations vigorously. The collaboration agreements will remain in force pending a final court decision<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #1f497d">.</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #1f497d">&#160;</font>The dispute does not affect the Novartis vision and commitment to help people suffering from migraine worldwide.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">IMMUNOLOGY, HEPATOLOGY and DERMATOLOGY</div>

<div style="TEXT-ALIGN: justify"><br>
</div>

<table id="zbc53ec327e2e4f28a06acff492397461" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">Q1 2019</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Q1 2018</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="6">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">% change</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">&#160;</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1pt solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD m</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1pt solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD m</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1pt solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: right" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">cc</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Cosentyx</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">791</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">580</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">36</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">41</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Ilaris</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">151</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">126</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">20</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">28</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1.5pt solid; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Total Immunology, Hepatology and Dermatology</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">942</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">706</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">33</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">39</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom" colspan="16">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Xolair</font> sales for all indications are reported in the Respiratory franchise</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div><br>
</div>

<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">Cosentyx</font> (USD 791 million, +36%, +41% cc) <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">delivered strong demand driven growth across all indications in the US and ex-US</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">.</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000"> In the US,&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-STYLE: italic">Cosentyx</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">(USD 474 million) sales grew 49% and in the rest of the world sales grew (21%, 32% cc). In March, Novartis presented new head-to-head data of&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-STYLE: italic">Cosentyx</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">showing superior improvements in psoriasis patients' quality of life versus ustekinumab. In ERASURE / FIXTURE, one of the largest clinical programs to date,&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-STYLE: italic">Cosentyx</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">provided sustained benefit of skin improvement over 5 years, adding to 5 year data across the continuum of psoriatic disease and ankylosing spondylitis. In March, </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-STYLE: italic">Cosentyx </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">was approved in China, based on data which&#160;confirmed rapid response and high efficacy of&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-STYLE: italic">Cosentyx</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">in psoriasis patients.&#160;</font>These data reinforce<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Cosentyx</font>&#8217;s unique position as a comprehensive treatment across PsO, PsA and AS, with sustained efficacy<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">.</font></div>
</div>

<div>&#160;</div>

<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">6</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>
</div>
</div>

<div>
<div>
<div>
<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">Ilaris</font> (USD 151 million, +20%, +28% cc) sales were driven by strong double-digit volume growth, mostly in Europe and the US.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">Xolair</font> continued to grow in Chronic Spontaneous Urticaria (CSU, also known as Chronic Idiopathic Urticaria, CIU), a severe skin disease. <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Xolair</font> on a global level is managed by the Respiratory franchise which reports all <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Xolair </font>sales.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">RESPIRATORY</div>

<table id="ze7fd80762c0f4f52a15e4d7a59c4333c" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">Q1 2019</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Q1 2018</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="6">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">% change</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">&#160;</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD m</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD m</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">cc</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Ultibro Breezhaler</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">104</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">106</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-2</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">7</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Seebri Breezhaler</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">31</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">38</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-18</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-10</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Onbrez Breezhaler</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">22</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">27</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-19</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-12</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Subtotal COPD Portfolio</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">157</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">171</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">-8</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">0</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Xolair<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">1</sup></div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">281</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">255</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">10</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">20</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Other</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">7</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">7</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">0</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">2</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1.5pt solid; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Total Respiratory</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">445</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">433</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">3</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">12</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: justify">&#160;Xolair sales for all indications are reported in the Respiratory franchise</div>

<div><br>
</div>

<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; FONT-STYLE: italic">Ultibro Breezhaler</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">(</font>USD 104 million, -2%, +7% cc) an inhaled LABA/LAMA, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">showed continued growth</font>, supported by FLAME and SUNSET study results as well as the GOLD Strategy 2019 Report.</div>

<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">Seebri Breezhaler</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">&#160;</font>(USD 31 million, -18%, -10% cc) an inhaled LAMA, declined due to competition in Europe and a focus of resources on <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Ultibro Breezhaler</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">.</font></div>

<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">Onbrez Breezhaler</font> (USD 22 million, -19%, -12% cc) an inhaled LABA, declined due to a focus of resources on <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Ultibro Breezhaler</font>.</div>

<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">Xolair </font>(USD 281 million, +10%, +20% cc) continued to grow in both indications, Severe Allergic Asthma (SAA) and Chronic Spontaneous Urticaria (CSU). Growth in SAA was mainly driven by strong performance in Emerging Growth Markets and the recent approval of <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Xolair</font> for home-use in Europe. Growth in CSU was observed for all regions.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">CARDIO-METABOLIC</div>

<table id="z25287318035f49c595643e38b66970e4" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">Q1 2019</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Q1 2018</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="6">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">% change</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">&#160;</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD m</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD m</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">cc</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Entresto</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">357</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">200</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">79</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">85</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Other</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">6</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">4</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">50</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">29</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1.5pt solid; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Total Cardio-Metabolic</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">363</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">204</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">78</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">84</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify; MARGIN-TOP: 12pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">Entresto&#160;</font>(USD 357 million, +79%, +85% cc) <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">continued strong sales growth across all regions, benefiting from the broad implementation and adoption of PIONEER-HF data presented in Q4 2018. The trial showed that initiating </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-STYLE: italic">Entresto</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000"> in HFrEF patients in the hospital setting soon after an acute decompensated heart failure event is safe and provides better outcomes than enalapril. Additional follow up data from PIONEER was presented at the American College of Cardiology in March which reinforces the safety and benefit of </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; FONT-STYLE: italic">Entresto</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000"> as the new standard of care in HFrEF.</font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">ESTABLISHED MEDICINES</div>

<table id="zda1d12265d434d6abc543dde2f93b464" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">Q1 2019</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Q1 2018</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="6">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">% change</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">&#160;</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD m</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD m</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">cc</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Galvus </font>Group</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">315</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">318</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-1</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">7</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Exforge </font>Group</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">267</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">248</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">8</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">16</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Diovan </font>Group</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">261</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">265</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-2</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">6</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Zortress/Certican</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">116</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">109</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">6</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">14</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Voltaren/Cataflam</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">113</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">115</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-2</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">5</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Neoral/Sandimmun(e)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">103</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">115</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-10</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-5</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Other</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">576</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">696</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-17</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-12</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 1.5pt solid; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Total Established Medicines</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">1 751</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">1 866</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">-6</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">1</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div><br>
</div>

<div style="BACKGROUND-COLOR: #ffffff">
<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">Galvus </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">Group</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">&#160;</font>(USD 315 million, -1%, +7% cc) continues to grow in constant currency driven by solid performance in Emerging Growth Markets including China.</div>

<div><br>
</div>
</div>

<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">Exforge</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold"> Group</font> (USD 267 million, +8%, +16% cc) grew in Emerging Growth Markets and Europe mainly due to the recall of competitive generic products.</div>
</div>

<div>&#160;</div>

<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">7</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>
</div>
</div>

<div>
<div>
<div>
<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">Diovan </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">Group</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">&#160;</font>(USD 261 million, -2%, +6% cc) grew in Europe and Emerging Growth Markets mainly due to the recall of competitive generic products.</div>

<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">Zortress/Certican </font>(USD 116 million, +6%, +14% cc) continued to show growth across all regions.</div>

<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">Voltaren/Cataflam</font> (USD 113 million, -2%, +5% cc) grew mainly driven by Emerging Growth Markets<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">.</font></div>

<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; FONT-STYLE: italic">Neoral/Sandimmun(e) </font>(USD 103 million, -10%, -5% cc) declined due to generic competition and mandatory price reductions.</div>
</div>

<div>&#160;</div>

<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">8</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>
</div>
</div>

<div>
<div>
<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left"><u>Sandoz</u></div>

<table id="z7a9f8de9c1fe490eb5f6899e54bf4950" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">Q1 2019</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Q1 2018</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="6">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">% change</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD m</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD m</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">cc</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Net sales</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000">2 326</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000">2 517</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000">-8</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000">-2</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Operating income</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000">273</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000">409</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000">-33</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000">-25</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;&#160;As % of net sales</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">11.7</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">16.2</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Core operating income</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000">461</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000">499</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000">-8</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000">1</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;&#160;As % of net sales</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">19.8</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">19.8</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify"><u>Sandoz US Generics Transaction</u></div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Novartis announced on September 6, 2018 that it has agreed to sell selected portions of its Sandoz US portfolio, specifically the Sandoz US dermatology business and US oral solids portfolio, to Aurobindo Pharma USA Inc. This transaction is expected to be completed during 2019.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify"><u>First quarter</u></div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Net sales</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Sandoz net sales were USD 2.3 billion (-8%, -2% cc) in the first quarter with 9 percentage points (cc) of price erosion mainly in the US, partially offset by volume growth of 7&#160;percentage points (cc). Excluding the US, net sales grew (-4%, +4% cc).</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Sales in the US were USD 590 million (-17%), mainly due to continued industry-wide pricing pressure. Sales in Europe were USD 1.2 billion (-4%, +5% cc). Sales in Asia / Africa / Australasia were USD 318 million (-2%, +3% cc). Sales in Canada and Latin America were USD 177 million (-9%, -1% cc).</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Global sales of Biopharmaceuticals (biosimilars, biopharmaceutical contract manufacturing and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Glatopa</font>) grew to USD 351 million (+5%, +11% cc), driven by Europe with continued strong double-digit growth from <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Rixathon</font> (rituximab),<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic"> Hyrimoz</font> (adalimumab) and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Erelzi</font> (etanercept). Launch roll-outs in Asia / Africa / Australasia also contributed to growth.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Retail sales were USD 1.9 billion (-9%, -3% cc), due to the decline in the US (-16%). Total Anti-Infectives franchise sales were USD 329 million (-11%, -5% cc), including finished dosage forms sold under the Sandoz name and Anti-Infectives sold to third parties for sale under their own name (USD 125 million,&#160; -11%, -6% cc).</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Operating income</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Operating income was USD 273 million (-33%, -25% cc) mainly due to lower divestment income, higher net changes in legal provisions, higher net restructuring expenses, and lower sales, partly offset by continued gross margin improvement. Operating income margin declined by 3.9 percentage points in constant currencies, currency had a negative impact of 0.6 percentage points, resulting in a net decrease of 4.5 percentage points to 11.7% of net sales.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">Core adjustments were USD&#160;188 million, </font>including USD 79 million of amortization. Prior year core adjustments were USD 90 million. The change in core adjustments compared to prior year was driven by lower divestment gains, changes in legal provisions, and higher net restructuring expenses. Core operating income was USD 461 million (-8%, +1% cc) <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">as gross margin improvements were offset by the sales decline from price erosion. </font>Core operating income margin improved by 0.5 percentage points in constant currencies, currency had a negative impact of 0.5 percentage points, resulting in an unchanged margin at 19.8% of net sales.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Core gross margin as a percentage of net sales increased by 1.8 percentage points (cc), as favorable product and geographic mix and ongoing productivity improvements, were partly offset by the impact of price erosion in the US. Core R&amp;D expenses increased by 0.4<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#160;</font>percentage points (cc). Core SG&amp;A expenses increased by 0.4<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#160;</font>percentage points (cc). Core Other Income and Expense increased by 0.5<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#160;</font>percentage points (cc) mainly due to higher net legal settlement expenses.</div>

<div><br>
</div>
</div>

<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">9</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>
</div>
</div>

<div>
<div>
<div>
<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><u>Discontinued Operations</u></font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-FAMILY: 'Times New Roman', serif"><u>1</u></sup></div>

<table id="za89a03092db24fde82fa4ca7256bb3e7" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Discontinued operations</div>
</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">Q1 2019</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Q1 2018</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="6">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">% change</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD m</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD m</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">USD</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: right">cc</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Net sales</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">1 777</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">1 779</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">0</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">4</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Operating&#160; income</div>
</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">71</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">76</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: right">nm</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: right">nm</div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 52%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left; TEXT-INDENT: 10pt">As a % of sales</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">4.0</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">4.3</div>
</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Core operating income</div>
</td>
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<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">350</div>
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<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">360</div>
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<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">-3</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">7</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: left; TEXT-INDENT: 10pt">As a % of sales</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">19.7</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">20.2</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Net loss / income from discontinued operations</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000">-101</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000">58</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">nm</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: right">nm</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">nm = not meaningful</font></div>

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<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify"><u>First quarter</u></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Results for discontinued operations in the first quarter of 2019 include a full quarter of results from the Alcon Division and certain Corporate costs directly attributable to Alcon.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Net sales</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Discontinued operations net sales in the first quarter amounted to USD 1.8 billion (0%, +4% cc), mainly driven by the Surgical business franchise.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Operating income</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Operating income was USD 71 million compared to USD 76 million in prior year, mainly as higher sales, as well as the discontinuation of amortization and depreciation as of March 1 (USD 118 million), were offset by higher one-time costs relating to the spin-off, higher legal costs and growth investments. &#160;&#160;</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Core operating income amounted to USD 350 million for discontinued operations (-3%, +7% cc) as higher sales and gross margin, as well as discontinuation of depreciation and software amortization from March 1 (USD 30 million) were partly offset by growth investments.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Net loss / income</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Net loss from discontinued operations amounted to a loss of USD 101 million compared to a net income of USD 58 million in prior year mainly due to higher one-time tax expenses.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">In connection with the Alcon spin-off on April 9, the Group will report as part of its Q2 discontinued operations results a one-time non-cash IFRS gain of approximately USD 4.7 billion (refer to Note 2 and 3).</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left"><u>Total Group</u></div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">For the total Group, net income amounted to USD 1.8 billion compared to USD 2.0 billion in the prior year, and basic earnings per share decreased to USD 0.77 from USD 0.87. Free cash flow for the total Group amounted to USD 1.8 billion.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">1</sup> Discontinued operations are described on page 32.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify"><u>GROUP CASH FLOW AND BALANCE SHEET</u></div>

<div><br>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify"><u>Cash flow</u></div>

<div><br>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">First quarter</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Net cash flows from operating activities from continuing operations amounted to USD 2.3 billion, compared to USD 2.4 billion in the prior year period. Higher net income adjusted for non-cash items and other adjustments, including divestment gains, was more than offset by unfavorable working capital, which in the prior year period included the receipt of a GSK sales milestone from the divested Vaccines business of USD 0.4 billion.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Net cash inflows from investing activities from continuing operations amounted to USD 1.8 billion, compared to a cash outflow of USD 4.0 billion in in the prior year period. The current year includes USD 2.3 billion net proceeds from the sales of marketable securities and commodities and cash inflows from the sale of property, plant and equipment, intangible and financial assets of USD 0.3 billion, partly offset by cash outflows for the purchase of property, plant and equipment of USD 0.3 billion, for intangible assets of USD 0.3 billion, for financial assets and other non-current assets of USD 0.1 billion, and for acquisitions and divestments of businesses, net of USD 0.1 billion.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">In prior year period, net cash flows used in investing activities from continuing operations were mainly related to the acquisition of Advanced Accelerator Applications S.A. for USD 3.5 billion (USD 3.9 billion, net of cash acquired USD 0.4 billion), the purchase of property, plant and equipment of USD 0.3 billion and for intangible assets of USD 0.4 billion. This was partly offset by cash inflows from the sale of property, plant and equipment and intangible assets of USD 0.2 billion.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Net cash flows used in investing activities from discontinued operations amounted to USD 0.4 billion, compared to USD 0.1 billion in in the prior year period. The current year period includes mainly the cash outflow for the acquisition of PowerVision, Inc. of USD 0.3 billion.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Net cash flows used in financing activities from continuing operations amounted to USD 10.3 billion, compared to USD 1.5 billion in the prior year period. The current year mainly includes the cash outflows for the dividend payment of USD 6.6 billion, the repayment at maturity of a US dollar bond of USD 3.0 billion and for the net decrease of current financial debts of USD 0.1 billion. Other financing net cash outflows amounted to USD 0.5 billion.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">In the prior year period, net cash flows used in financing activities from continuing operations included cash outflows for the dividend payment of USD 7.0 billion and cash inflows from the issuance of euro bonds totaling USD 2.8 billion (notional amount EUR 2.25 billion), the net increase in current financial debts of USD 2.5 billion, and from net treasury share transactions of USD 0.3 billion.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000">Free cash flow from continuing operations amounted to USD 1.9 billion broadly in line with the prior year period, which included the receipt </font>of a sales milestone related to the Vaccines divestment to GSK.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left"><u>Balance sheet</u></div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">There has been a significant change on the balance sheet as a result of the classification of the Alcon business to discontinued operations following the approval of the spin-off of Alcon at the Annual General Meeting on February 28, 2019 (see Note 2 and 3 for further details).</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Assets</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Total non-current assets of USD 85.5 billion at March 31, 2019 decreased by USD 24.5 billion compared to prior year-end, mainly as a result of USD 24.4 billion of the Alcon business non-current assets reclassified to current assets related to discontinued operations. Excluding the effect of the reclassifications, total non-current assets decreased by USD 0.8 billion. The reduction of USD 1.0 billion in intangible assets other than goodwill was mainly due to unfavorable currency translation adjustments and amortization. Goodwill of USD 26.3 billion remained stable compared to December 31, 2018. Property, plant and equipment decreased by USD 0.4 billion to USD 12.4 billion mainly due to unfavorable currency translation adjustments and depreciation. Right-of-use assets of USD 1.7 billion were recognized resulting from the implementation of IFRS 16 &#8211; Leases on January 1, 2019<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">1</sup>. </div>

<br>
<br>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">1</sup> For further detail on the implementation of IFRS 16 &#8211; Leases, refer to Note 2 and 6</div>
</div>

<div>&#160;</div>

<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">11</div>

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<div>
<div>
<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Investments in associated companies amounting to USD 7.9 billion decreased by USD 0.5 billion, mainly due to the dividend income from the investment in Roche.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Total current assets of USD 52.4 billion at March 31, 2019 increased by USD 16.9 billion, mainly due to the reclassification of the non-current assets of the Alcon business mentioned above. Excluding the effect of the reclassifications, cash and cash equivalents, and marketable securities, commodities, time deposits and derivative financial instruments, decreased by USD 6.2 billion and USD 2.4 billion respectively. Inventory and trade receivables remained stable at USD 5.7 billion and USD 7.6 billion respectively, while other current assets increased by USD 0.3 billion.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Liabilities</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Total non-current liabilities of USD 34.5 billion decreased by USD 2.8 billion compared to December 31, 2018, mainly due to the reclassification of the USD 3.0 billion of Alcon business non-current liabilities to current&#160; liabilities related to discontinued operations. Excluding the effect of the reclassifications, total non-current liabilities remained broadly in line with prior year end. The recognition of the USD 1.7 billion lease liability, resulting from the implementation of IFRS 16 &#8211; Leases on January 1, 2019<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">1</sup>, was offset by the reduction of the financial debt and the deferred tax liabilities by USD 1.2 billion and USD 0.5 respectively. Provisions and other non-current liabilities were broadly in line with prior year at USD 6.2 billion.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Total current liabilities of USD 56.1 billion at March 31, 2019 increased by USD 26.5 billion, mainly due to recognition of the dividend in kind distribution liability to effect the spin-off of the Alcon business of USD 26.4 billion (see Note 2 and 3 for further details). Excluding the effect of the reclassifications of non-current liabilities related to discontinued operations, mentioned above, and the dividend in kind distribution liability, total current liabilities decreased by USD 3.1 billion at March 31, 2019. Financial debts and derivatives decreased by USD 2.2 billion due to repayment of USD 3.0 billion bond issued in February 2009. Lease liabilities of USD 0.3 billion were recognized resulting from the implementation of IFRS 16 &#8211; Leases on January 1, 2019<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">1</sup>. Provisions and other current liabilities decreased by USD 0.9 billion whereas trade payable remained stable at USD 4.6 billion.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Net assets of disposal group held for sale of USD 0.8 billion are related to the pending divestment of the Sandoz US dermatology business and generic US oral solids portfolio to Aurobindo Pharma USA Inc., as announced on September 6, 2018 (see Note 3).</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Group equity</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">The Group&#8217;s equity decreased by USD 31.4 billion to USD 47.3 billion at March 31, 2019 compared to USD 78.7 billion at December 31, 2018. This decrease was mainly due to the dividend in kind distribution liability of USD 26.4 billion (see Note 2 and 3 for further details), the cash-dividend payment of USD 6.6 billion, unfavorable currency translation differences of USD 0.3 billion and net actuarial losses of USD 0.5 billion. This was partially offset by net income of USD 1.8 billion, decrease of treasury share repurchase obligation under a share buyback trading plan of USD 0.3 billion and the net effect of exercise of options and employee transactions of USD 0.3 billion.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">On a pro forma basis, adjusting for the impacts of the completion of the spin-off of Alcon on April 9, 2019, the Group&#8217;s equity would have been USD 54.9 billion at March 31, 2019.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Net debt and debt/equity ratio</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">The net debt increased to USD 21.5 billion at March 31, 2019 compared to USD 16.2 billion at December 31, 2018<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">. </font>The Group&#8217;s liquidity amounted to USD 7.1 billion at March 31, 2019 compared to USD 16.0 billion at December 31, 2018, and the total of the non-current and current financial debt, including derivatives, amounted to USD 28.7 billion at March 31, 2019, compared to USD 32.1 billion at December 31, 2018. The debt/equity ratio, excluding the dividend in kind distribution liability equity reduction, decreased to 0.39:1 at March 31, 2019.</div>

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</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">On a pro forma basis, adjusting for the impacts of the completion of the spin-off of Alcon on April 9, 2019, the Group&#8217;s debt/equity ratio would have been 0.52:1 at March 31, 2019 compared to 0.41:1 at December 31, 2018.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;FONT-FAMILY: 'Times New Roman', serif">1</sup><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">For further detail on the implementation of IFRS 16 &#8211; Leases, refer to Note 2 and 6</font></div>
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<div>&#160;</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">12</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left"><strong><u><u>Innovation Review</u></u></strong></div>

<div><strong><br>
</strong></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: normal; FONT-STYLE: normal; TEXT-ALIGN: justify"><strong><font style="FONT-WEIGHT: normal">Benefitting </font><font style="FONT-WEIGHT: normal">from </font><font style="FONT-WEIGHT: normal">our </font><font style="FONT-WEIGHT: normal">continued focus on innovation, Novartis has one of the industry&#8217;s </font><font style="FONT-WEIGHT: normal">most competitive pipelines with more than 200 projects in clinical development.</font></strong></div>

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</strong></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left"><strong>Selected Innovative Medicines approvals: US, EU and Japan</strong></div>

<table id="z36b2c6033ae84bbca1f2312073092846" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; WIDTH: 16.11%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Product</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; WIDTH: 25.67%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Active ingredient/Descriptor</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; WIDTH: 34.23%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Indication</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; WIDTH: 23.98%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Approval date</div>
</td>
</tr>

<tr>
<td style="WIDTH: 16.11%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Kymriah</div>
</td>
<td style="WIDTH: 25.67%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">tisagenlecleucel</div>
</td>
<td style="WIDTH: 34.23%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Pediatric/young adult acute lymphoblastic leukemia</div>
</td>
<td style="WIDTH: 23.98%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">JP &#8211; March</div>
</td>
</tr>

<tr>
<td style="WIDTH: 16.11%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Kymriah</div>
</td>
<td style="WIDTH: 25.67%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">tisagenlecleucel</div>
</td>
<td style="WIDTH: 34.23%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">r/r Diffuse Large B-Cell Lymphoma</div>
</td>
<td style="WIDTH: 23.98%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">JP &#8211; March</div>
</td>
</tr>

<tr>
<td style="WIDTH: 16.11%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Mayzent</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">(BAF312)</div>
</td>
<td style="WIDTH: 25.67%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">siponimod</div>
</td>
<td style="WIDTH: 34.23%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Relapsing forms of multiple sclerosis, including Relapsing Remitting Multiple Sclerosis (RRMS) clinically isolated syndrome (CIS) and active secondary progressive multiple sclerosis (SPMS)</div>
</td>
<td style="WIDTH: 23.98%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">US &#8211; March</div>
</td>
</tr>
</table>

<div><strong><br>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left"><strong>Selected Innovative Medicines projects awaiting regulatory decisions</strong></div>

<table id="z2d6f41fbfb4647f189cf08a6e5d892f2" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; WIDTH: 16.11%; VERTICAL-ALIGN: top">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; WIDTH: 19.02%; VERTICAL-ALIGN: top">&#160;</td>
<td style="BORDER-TOP: #000000 1px solid; WIDTH: 32.33%; VERTICAL-ALIGN: top; BORDER-BOTTOM: 1px solid" colspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: center">Completed submissions</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; WIDTH: 32.54%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.11%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Product</div>
</td>
<td style="WIDTH: 19.02%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Indication</div>
</td>
<td style="WIDTH: 10.78%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">US</div>
</td>
<td style="WIDTH: 10.78%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">EU</div>
</td>
<td style="WIDTH: 10.78%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Japan</div>
</td>
<td style="WIDTH: 32.54%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">News update</div>
</td>
</tr>

<tr>
<td style="WIDTH: 16.11%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">AVXS-101</div>
</td>
<td style="WIDTH: 19.02%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Spinal Muscular Atrophy Type 1 (IV Formulation)</div>
</td>
<td style="WIDTH: 10.78%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Q3 2018</div>
</td>
<td style="WIDTH: 10.78%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Q4 2018</div>
</td>
<td style="WIDTH: 10.78%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Q4 2018</div>
</td>
<td style="WIDTH: 32.54%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 9pt; DISPLAY: inline-block">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Priority review granted by FDA Dec 2018 (PDUFA date May &#8217;19)</font></div>

<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 9pt; DISPLAY: inline-block">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">PRIME designation in EU.</font></div>

<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 9pt; DISPLAY: inline-block">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Sakigake designation in Japan</font></div>
</td>
</tr>

<tr>
<td style="WIDTH: 16.11%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Mayzent </font>(BAF312)</div>
</td>
<td style="WIDTH: 19.02%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Secondary Progressive Multiple Sclerosis</div>
</td>
<td style="WIDTH: 10.78%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Approved</div>
</td>
<td style="WIDTH: 10.78%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Q3 2018</div>
</td>
<td style="WIDTH: 10.78%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Q1 2019</div>
</td>
<td style="WIDTH: 32.54%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.11%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">BYL719</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">(alpelisib)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">+ fulvestrant</div>
</td>
<td style="WIDTH: 19.02%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">PIK3CA mutant HR+/HER2- postmenopausal advanced or metastatic BC</div>
</td>
<td style="WIDTH: 10.78%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Q4 2018</div>
</td>
<td style="WIDTH: 10.78%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Q4 2018</div>
</td>
<td style="WIDTH: 10.78%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 32.54%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.11%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">LCI699</div>
</td>
<td style="WIDTH: 19.02%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Cushing&#8217;s disease</div>
</td>
<td style="WIDTH: 10.78%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Q1 2019</div>
</td>
<td style="WIDTH: 10.78%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Q4 2018</div>
</td>
<td style="WIDTH: 10.78%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="WIDTH: 32.54%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.11%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Lucentis</div>
</td>
<td style="WIDTH: 19.02%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Retinopathy of prematurity</div>
</td>
<td style="WIDTH: 10.78%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 10.78%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Q4 2018</div>
</td>
<td style="WIDTH: 10.78%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Q1 2019</div>
</td>
<td style="WIDTH: 32.54%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.11%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 19.02%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Diabetic retinopathy</div>
</td>
<td style="WIDTH: 10.78%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 10.78%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Q4 2018</div>
</td>
<td style="WIDTH: 10.78%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 32.54%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.11%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Promacta/ Revolade</div>
</td>
<td style="WIDTH: 19.02%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Severe aplastic anemia, 1<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">st</sup> line</div>
</td>
<td style="WIDTH: 10.78%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Approved</div>
</td>
<td style="WIDTH: 10.78%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Q2 2018</div>
</td>
<td style="WIDTH: 10.78%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Approved</div>
</td>
<td style="WIDTH: 32.54%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.11%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">RTH258</div>
</td>
<td style="WIDTH: 19.02%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">nAMD</div>
</td>
<td style="WIDTH: 10.78%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Q1 2019</div>
</td>
<td style="WIDTH: 10.78%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Q1 2019</div>
</td>
<td style="WIDTH: 10.78%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 32.54%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 5.15pt">File accepted for review, PRV used</div>
</td>
</tr>
</table>

<div><strong><br>
</strong></div>

<div><strong><br>
</strong></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left"><strong>Selected Innovative Medicines pipeline projects</strong></div>

<table id="z6f289769e3194400995e0ca50de6f451" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; WIDTH: 16.18%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Project/ Compound</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; WIDTH: 25.72%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Potential indication/Disease area</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; WIDTH: 15.21%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">First planned submissions</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; WIDTH: 9.82%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">&#160;Current Phase</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; WIDTH: 32.4%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">News update</div>
</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" rowspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">ABL001</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Chronic myeloid leukemia 3<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">rd</sup>&#160; line</div>
</td>
<td style="WIDTH: 15.21%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">2021</div>
</td>
<td style="WIDTH: 11.83%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">III</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr style="HEIGHT: 14px">
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Chronic myeloid leukemia 1<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">st</sup>&#160; line</div>
</td>
<td style="WIDTH: 15.21%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#8805;2023</div>
</td>
<td style="WIDTH: 11.83%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">I</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" rowspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">ACZ885<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"><br>
</font> (canakinumab)</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Adjuvant NSCLC</div>
</td>
<td style="WIDTH: 15.21%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">2022</div>
</td>
<td style="WIDTH: 9.82%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;III</div>
</td>
<td style="WIDTH: 32.4%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 9pt; DISPLAY: inline-block">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Phase III study enrollment started</font></div>
</td>
</tr>

<tr>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">1<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">st</sup> line NSCLC</div>
</td>
<td style="WIDTH: 15.21%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">2021</div>
</td>
<td style="WIDTH: 9.82%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;III</div>
</td>
<td style="WIDTH: 32.4%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 9pt; DISPLAY: inline-block">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Phase III study enrollment started</font></div>
</td>
</tr>

<tr>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">2<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">nd</sup> line NSCLC</div>
</td>
<td style="WIDTH: 15.21%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">2021</div>
</td>
<td style="WIDTH: 9.82%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;III</div>
</td>
<td style="WIDTH: 32.4%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 9pt; DISPLAY: inline-block">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Phase III study enrollment started</font></div>
</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">AVXS-101</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Spinal Muscular Atrophy Type 2/3 (IT formulation)</div>
</td>
<td style="WIDTH: 15.21%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">2020</div>
</td>
<td style="WIDTH: 9.82%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;I</div>
</td>
<td style="WIDTH: 32.4%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">-<font style="FONT-SIZE: 1px; WIDTH: 9pt; DISPLAY: inline-block">&#160;</font>Data expected at AAN in May 19</div>
</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">AVXS-201</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Rett Syndrome</div>
</td>
<td style="WIDTH: 15.21%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">2022</div>
</td>
<td style="WIDTH: 9.82%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;I</div>
</td>
<td style="WIDTH: 32.4%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">CAD106</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Alzheimer&#8217;s disease</div>
</td>
<td style="WIDTH: 15.21%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#8805;2023</div>
</td>
<td style="WIDTH: 9.82%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;II / III</div>
</td>
<td style="WIDTH: 32.4%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" rowspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">BYL719</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">HR- HER- adv. breast cancer</div>
</td>
<td style="WIDTH: 15.21%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#8805;2023</div>
</td>
<td style="WIDTH: 9.82%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;III</div>
</td>
<td style="WIDTH: 32.4%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Triple negative breast cancer</div>
</td>
<td style="WIDTH: 15.21%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#8805;2023</div>
</td>
<td style="WIDTH: 9.82%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;III</div>
</td>
<td style="WIDTH: 32.4%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">&#160;</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div>&#160;</div>

<div>&#160;</div>

<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">13</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>
</div>
</div>

<div>
<div>
<table id="zb67cc8a1c9bc4ea28faaab35ee825cd2" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; WIDTH: 16.18%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">CFZ533</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">(iscalimab)</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Solid organ transplantation</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#8805;2023</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;II</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: 1px solid; BACKGROUND-COLOR: #cceeff">
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 9pt; DISPLAY: inline-block">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Enrollment has started in the phase IIb de novo and maintenance kidney transplant study</font></div>
</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Sjoegren&#8217;s syndrome</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#8805;2023</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;II</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">CNP520</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Alzheimer&#8217;s disease</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#8805;2023</div>
</td>
<td style="WIDTH: 10.44%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;II / III</div>
</td>
<td style="WIDTH: 32.4%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff" rowspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Cosentyx</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; BORDER-BOTTOM: 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Non-radiographic axial spondyloarthritis</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; BORDER-BOTTOM: 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">2019</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; BORDER-BOTTOM: 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;III</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; BORDER-BOTTOM: 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 9.15pt; TEXT-INDENT: -9.15pt">-<font style="FONT-SIZE: 1px; WIDTH: 9pt; DISPLAY: inline-block">&#160;</font>On track for readout in H2 2019</div>
</td>
</tr>

<tr>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Psoriatic arthritis head-to-head vs. adalimumab</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">2020</div>
</td>
<td style="WIDTH: 10.44%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;III</div>
</td>
<td style="WIDTH: 32.4%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Ankylosing spondylitis head-to-head vs. adalimumab</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">2022</div>
</td>
<td style="WIDTH: 10.44%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;III</div>
</td>
<td style="WIDTH: 32.4%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Hidradenitis suppurativa</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">2022</div>
</td>
<td style="WIDTH: 10.44%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;III</div>
</td>
<td style="WIDTH: 32.4%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">CSJ117</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Severe asthma</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#8805;2023</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;II</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">ECF843</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Dry eye</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">2022</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;II</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" rowspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Entresto</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Chronic heart failure with preserved ejection fraction</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">2019</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;III</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 9pt; DISPLAY: inline-block">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">PARAGON-HF continues as planned following IA, topline results expected mid-2019</font></div>
</td>
</tr>

<tr>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Post-acute myocardial infarction</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">2020</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;III</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">HDM201</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Acute myeloid leukemia</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#8805;2023</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;II</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">INC280</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">(capmatinib)</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">NSCLC (cMET amp and mut)</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">2019</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#160;II</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff" rowspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Jakavi</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Acute graft-versus-host disease (GvHD)</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">2020</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">III</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Chronic graft-versus-host disease (GvHD)</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">2020</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">III</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">KAE609</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">(cipargamin)</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Malaria</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#8805;2023</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">II</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">KAF156</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">(ganaplacide)</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Malaria</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#8805;2023</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">II</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Kisqali </font>(LEE011)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">+ endocrine therapy</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">HR+/HER2- EBC (adjuvant)</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#8805;2023</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">III</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 9pt; DISPLAY: inline-block">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Translational Research In Oncology (TRIO) is collaborating with Novartis on an upcoming phase III clinical trial (called NATALEE)</font></div>
</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff" rowspan="3">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Kymriah</font> (<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">tisagenlecleucel</font>)</div>

<div>&#160;</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">r/r Follicular lymphoma</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">2021</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">II</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Chronic lymphocytic leukemia</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">2022</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">II</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">r/r DLBCL in 1<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">st</sup> relapse</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">2021</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">III</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">+ pembrolizumab</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">r/r DLBCL</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#8805;2023</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">I</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">LAM320</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Multi-drug resistant tuberculosis</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">2021</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">III</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 9pt; DISPLAY: inline-block">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Submission for WHO pre-qualification planned in Q1 2019</font></div>
</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">LJC242</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Non-alcoholic steatohepatitis (NASH)</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#8805;2023</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">II</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">LJN452</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">(tropifexor)</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Non-alcoholic steatohepatitis (NASH)</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#8805;2023</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">II</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 9pt; DISPLAY: inline-block">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">FDA Fast Track designation</font></div>
</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">LMI070</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Spinal muscular atrophy</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">2022</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">II</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 9pt; DISPLAY: inline-block">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">FDA Orphan designation, EMA Orphan status obtained</font></div>

<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 9pt; DISPLAY: inline-block">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Dose ranging study ongoing</font></div>
</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff" rowspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">LNP023</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">IgA nephropathy</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#8805;2023</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">II</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Membranous nephropathy</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#8805;2023</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">II</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">C3 glomerulopathy</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#8805;2023</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">II</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">LOU064</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Chronic spontaneous urticaria</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#8805;2023</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">II</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller">177</sup>Lu-PSMA-617</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Metastatic castration-resistant prostate cancer</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">2020</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">III</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">MOR106</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Atopic dermatitis</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#8805;2023</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">II</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">OMB157 (ofatumumab)</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Relapsing multiple sclerosis</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">2019</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">III</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 9pt; DISPLAY: inline-block">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Phase III ASCLEPIOS studies fully recruited and on track for 2019 readout</font></div>
</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">PDR001 + <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Tafinlar + Mekinist</font></div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Metastatic BRAF V600+ melanoma</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">2019</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">III</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">-<font style="FONT-SIZE: 1px; WIDTH: 9pt; DISPLAY: inline-block">&#160;</font>On track for 2019 H2 readout</div>
</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">14</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>
</div>
</div>

<div>
<table id="z0f8f2d648be0400787dff15b2fa70fad" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">PDR001 Combo</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Metastatic melanoma</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#8805;2023</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">II</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 9pt; DISPLAY: inline-block">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">CPDR001J2201 enrollment started</font></div>
</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">QAW039</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">(fevipiprant)</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Asthma</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">2020</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">III</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 9pt; DISPLAY: inline-block">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Phase III LUSTER (1 and 2) and Zeal (1 and 2) studies enrollment completed. On track for H2 2019 readout</font></div>
</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">QBW251</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">COPD</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#8805;2023</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">II</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">QGE031</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">(ligelizumab)</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Chronic spontaneous urticaria / chronic</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">idiopathic urticaria</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">2021</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">III</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 9pt; DISPLAY: inline-block">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Phase III trials initiated enrollment</font></div>
</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">QMF149</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Asthma</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">2019</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">III</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">QVM149</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Asthma</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">2019</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">III</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 9pt; DISPLAY: inline-block">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Phase III IRIDIUM, PALLADIUM and QUARTZ studies enrollment completed</font></div>
</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" rowspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">RTH258<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#160;</font>(brolucizumab)</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Diabetic macular edema</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">2021</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">III</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 9pt; DISPLAY: inline-block">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">DME trial started</font></div>
</td>
</tr>

<tr>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Retinal vein occlusion</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#8805;2023</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">III</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic">Rydapt </font>(PKC412)</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Acute myeloid leukemia (FLT3 wild type)</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">2022</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">III</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">SAF312</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Chronic ocular surface pain</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#8805;2023</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">II</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">SEG101</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Sickle cell pain crises</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">2019</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">II</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">TQJ230A</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Secondary prevention of cardiovascular events in patients with elevated levels of lipoprotein (a)</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#8805;2023</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">III</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 9pt; DISPLAY: inline-block">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Novartis announced February 25th that we were exercising our option to license the rights to develop and commercialize TQJ230 from Akcea Therapeutics, an affiliate of Ionis Pharmaceuticals, for targeted cardiovascular therapy.&#160; Phase III scheduled to initiate in Q1 of 2020.</font></div>
</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">UNR844</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Presbyopia</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">2022</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">II</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff" rowspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">VAY736</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">(lanalumab)</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Auto-immune hepatitis</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#8805;2023</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">II</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Primary Sjoegren&#8217;s syndrome</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#8805;2023</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">II</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 9pt; DISPLAY: inline-block">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">FDA Fast Track designation</font></div>

<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 9pt; DISPLAY: inline-block">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">PhII DRF study fully recruited</font></div>
</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">VAY785 (emricasan)</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Non-alcoholic steatohepatitis (NASH)</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#8805;2023</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">II</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 9pt; DISPLAY: inline-block">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Conatus issued a press release on Mar 21st regarding results of the ENCORE-NF phase 2b clinical trial in NASH fibrosis</font></div>
</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">VPM087</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">1st line colorectal cancer / 1st line renal cell carcinoma</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">&#8805;2023</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">I</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-STYLE: italic; TEXT-ALIGN: left">Xolair</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Nasal polyps</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">2019</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">III</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 16.18%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">ZPL389</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">(adriforant)</div>
</td>
<td style="WIDTH: 25.72%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Atopic dermatitis</div>
</td>
<td style="WIDTH: 15.26%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">2022</div>
</td>
<td style="WIDTH: 10.51%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left; MARGIN-LEFT: 2.3pt">II</div>
</td>
<td style="WIDTH: 32.34%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 9pt; DISPLAY: inline-block">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Phase IIb trial enrollment initiated</font></div>
</td>
</tr>
</table>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Selected Sandoz approvals and pipeline projects (biosimilars)</div>

<table id="z73c389ebf38e4b5183c99128ed0c3f0e" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-TOP: #000000 1px solid; WIDTH: 14.74%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Project/ Compound</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; WIDTH: 33.54%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Potential indication/Disease area</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; WIDTH: 13.61%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Submission status</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; WIDTH: 12.39%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Current Phase</div>
</td>
<td style="BORDER-TOP: #000000 1px solid; WIDTH: 25.73%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">News update</div>
</td>
</tr>

<tr>
<td style="WIDTH: 14.74%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">LA-EP2006 (pegfilgrastim)</div>
</td>
<td style="WIDTH: 33.54%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Chemotherapy-induced neutropenia and others (same as originator)</div>
</td>
<td style="WIDTH: 13.61%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">US</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">EU</div>
</td>
<td style="WIDTH: 12.39%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Submitted</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: left">Approved</div>
</td>
<td style="WIDTH: 25.73%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<div style="TEXT-ALIGN: left; MARGIN-LEFT: 6.75pt; TEXT-INDENT: -5.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">-</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 5.75pt; DISPLAY: inline-block">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">Resubmitted to FDA in April</font></div>
</td>
</tr>
</table>

<div><br>
</div>
</div>

<div>
<div>
<div>&#160;</div>

<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">15</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">&#160;</div>
<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>
</div>
</div>

<div>&#160;</div>


</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:13pt; color:#000000; font-weight:bold;text-transform:uppercase;">CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:13pt; color:#000000; font-weight:bold;">Consolidated income statements</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">First quarter <font style="font-weight: normal;">(unaudited)</font>
  </font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;"></font><br><br></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
  <tr valign="bottom">
    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">(USD millions unless indicated otherwise)</font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Note<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Q1 2019<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Q1 2018<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Change<sup> </sup></font>
    </td>
    <td></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td width="36%" height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Net sales to third parties from continuing operations<sup></sup></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="9%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">9</font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="9%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>11&nbsp;106</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="9%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>10&nbsp;915</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="9%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>191</b></font>
    </td>
    <td align="right" width="1%"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Sales to discontinued operations<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">53</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">13</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">40</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Net sales from continuing operations<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>11&nbsp;159</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>10&nbsp;928</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>231</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other revenues<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">9</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">296</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">235</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">61</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Cost of goods sold<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-3&nbsp;251</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-3&nbsp;451</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">200</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Gross profit from continuing operations<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>8&nbsp;204</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>7&nbsp;712</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>492</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Selling, general and administration<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-3&nbsp;330</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-3&nbsp;284</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-46</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Research and development<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-2&nbsp;299</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1&nbsp;982</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-317</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other income<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">203</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">388</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-185</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other expense<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-536</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-463</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-73</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Operating income from continuing operations<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;242</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;371</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-129</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Income from associated companies<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">80</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">152</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-72</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Interest expense<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-226</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-218</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-8</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other financial income and expense<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">44</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">35</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">9</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Income before taxes from continuing operations<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;140</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;340</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-200</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Taxes<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-272</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-370</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">98</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Net income from continuing operations<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;868</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;970</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-102</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Net loss/income from discontinued operations<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-101</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">58</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-159</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Net income<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;767</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;028</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-261</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Attributable to:<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;"><i>Shareholders of Novartis AG<sup></sup></i></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>1&nbsp;766</i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>2&nbsp;025</i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>-259</i></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;"><i>Non-controlling interests<sup></sup></i></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>1</i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>3</i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>-2</i></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b><sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Weighted average number of shares outstanding -  Basic (million)<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;318</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;326</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -8</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Basic earnings per share from continuing operations (USD)<sup>1</sup></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i></i></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif; font-size:10pt;color:#00ff00;"></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>0.81</i></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i></i></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>0.85</i></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i></i></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>-0.04</i></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif; font-size:10pt;color:#00ff00;"></font>
    </td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Basic earnings per share from discontinued operations (USD)<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i></i></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif; font-size:10pt;color:#00ff00;"></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>-0.04</i></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i></i></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>0.02</i></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i></i></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>-0.06</i></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif; font-size:10pt;color:#00ff00;"></font>
    </td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total basic earnings per share (USD)<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>0.77</b></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>0.87</b></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-0.10</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Weighted average number of shares outstanding &#x2013;  Diluted (million)<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;339</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;347</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -8</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Diluted earnings per share from continuing operations (USD)<sup>1</sup></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i></i></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif; font-size:10pt;color:#00ff00;"></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>0.80</i></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i></i></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>0.84</i></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i></i></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>-0.04</i></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i></i></font>
    </td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Diluted earnings per share from discontinued operations (USD)<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i></i></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif; font-size:10pt;color:#00ff00;"></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>-0.04</i></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i></i></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>0.02</i></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i></i></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>-0.06</i></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i></i></font>
    </td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total diluted earnings per share (USD)<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>0.76</b></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>0.86</b></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-0.10</b></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td height="10px" colspan="10">
      <font style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;"></font>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="10">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>1&nbsp;</sup>Earnings per share (EPS) is calculated on the amount of net income attributable to shareholders of Novartis AG.</div>
    </td>
  </tr>
</table><br><div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;"></font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;"></font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"></div>
<div style="TEXT-ALIGN: center; WIDTH: 100%">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">16</font>
</div>
<div style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt;">
  <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; PAGE-BREAK-AFTER: always; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade>
</div>
<div style="WIDTH: 100%; TEXT-ALIGN: center; ">&#xA0;</div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:13pt; color:#000000; font-weight:bold;">Consolidated statements of comprehensive income </font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">First quarter<font style="font-weight: normal;"> (unaudited)</font>
  </font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;"></font><br><br></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
  <tr valign="bottom">
    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">(USD millions)</font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Q1 2019<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Q1 2018<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Change<sup> </sup></font>
    </td>
    <td></td>
    <tr>
      <td colspan="8" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td width="44%" height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Net income<sup></sup></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="11%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;767</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="11%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;028</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="11%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-261</b></font>
    </td>
    <td align="right" width="1%"></td>
    <tr>
      <td colspan="8" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Other comprehensive income to be eventually recycled  into the consolidated income statement:<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> </b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> </b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> </b></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:24pt;">Fair value adjustments on debt securities, net of taxes<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-2</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">3</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:24pt;">Fair value adjustments on deferred cash flow hedges,  net of taxes<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 3</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -2</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">Total fair value adjustments on financial instruments, net of taxes<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">Novartis share of other comprehensive income  recognized by associated companies, net of taxes<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -54</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 35</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -89</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">Net investment hedge<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">39</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-65</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">104</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">Currency translation effects<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-336</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1&nbsp;042</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1&nbsp;378</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Total of items to eventually recycle<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-349</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1&nbsp;013</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1&nbsp;362</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Other comprehensive income never to be recycled into the  consolidated income statement:<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">Actuarial (losses)/gains from defined benefit plans, net of taxes<sup>1</sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-503</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">182</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-685</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">Fair value adjustments on equity securities, net of taxes<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">95</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">87</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">8</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Total of items never to be recycled<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-408</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">269</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-677</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total comprehensive income<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;010</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>3&nbsp;310</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-2&nbsp;300</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Attributable to:<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i></i></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;"><i>Shareholders of Novartis AG<sup></sup></i></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>1&nbsp;010</i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>3&nbsp;308</i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>-2&nbsp;298</i></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:24pt;"><i>Continuing operations<sup></sup></i></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>1&nbsp;023</i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>3&nbsp;233</i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>-2&nbsp;210</i></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:24pt;"><i>Discontinued operations<sup></sup></i></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>-13</i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>75</i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>-88</i></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;"><i>Non-controlling interests<sup></sup></i></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>0</i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>2</i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>-2</i></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td colspan="8">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>&nbsp;</sup>&nbsp;</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="8">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>1&nbsp;</sup>Included in Q1 2019  is a USD -358 million impact related to the revaluation of deferred tax assets on Swiss pension plans that were previously recognized through other comprehensive income. This revaluation resulted from enactment of the Swiss canton Basel-Stadt tax rate reduction, effective on January 1, 2019.&nbsp;</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="8">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>&nbsp;</sup></div>
    </td>
  </tr>
</table><br><div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;"></font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;"></font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"></div>
<div style="TEXT-ALIGN: center; WIDTH: 100%">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">17</font>
</div>
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  <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; PAGE-BREAK-AFTER: always; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade>
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<div style="WIDTH: 100%; TEXT-ALIGN: center; ">&#xA0;</div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:13pt; color:#000000; font-weight:bold;">Consolidated balance sheets </font><br><br></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
  <tr valign="bottom">
    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><br>(USD millions)</font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><br><br>Note<sup>   </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Mar 31, <br>2019<br>(unaudited)<sup>   </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Dec 31, <br>2018<br>(audited)<sup>   </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><br><br>Change<sup>   </sup></font>
    </td>
    <td></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td width="36%" height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Assets<sup></sup></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="9%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="9%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="9%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="9%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right" width="1%"></td>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Non-current assets<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Property, plant and equipment<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">9</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">12&nbsp;415</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">15&nbsp;696</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-3&nbsp;281</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Right-of-use assets<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">6</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1&nbsp;721</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1&nbsp;721</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Goodwill<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">9</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">26&nbsp;295</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">35&nbsp;294</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-8&nbsp;999</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Intangible assets other than goodwill<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">9</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">27&nbsp;021</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">38&nbsp;719</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-11&nbsp;698</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Investments in associated companies<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">7&nbsp;855</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">8&nbsp;352</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-497</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Deferred tax assets<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">7&nbsp;298</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">8&nbsp;699</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1&nbsp;401</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Financial assets<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2&nbsp;267</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2&nbsp;345</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-78</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other non-current assets<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">626</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">895</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-269</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total non-current assets<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>85&nbsp;498</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>110&nbsp;000</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-24&nbsp;502</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Current assets<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Inventories<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">5&nbsp;728</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">6&nbsp;956</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1&nbsp;228</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Trade receivables<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">7&nbsp;612</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">8&nbsp;727</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1&nbsp;115</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Income tax receivables<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">233</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">248</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-15</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Marketable securities, commodities, time deposits and  derivative financial instruments<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 305</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;693</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -2&nbsp;388</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Cash and cash equivalents<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">6&nbsp;807</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">13&nbsp;271</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-6&nbsp;464</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other current assets<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2&nbsp;759</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2&nbsp;861</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-102</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Assets of disposal group held for sale<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">3</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">837</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">807</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">30</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Assets related to discontinued operations<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">10</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">28&nbsp;167</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">28&nbsp;167</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total current assets<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>52&nbsp;448</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>35&nbsp;563</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>16&nbsp;885</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total assets<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>137&nbsp;946</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>145&nbsp;563</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-7&nbsp;617</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Equity and liabilities<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Equity<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Share capital<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">944</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">944</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">0</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Treasury shares<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-63</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-69</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">6</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Reserves<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">46&nbsp;348</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">77&nbsp;739</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-31&nbsp;391</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Issued share capital and reserves attributable  to Novartis AG shareholders<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> 47&nbsp;229</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> 78&nbsp;614</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> -31&nbsp;385</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Non-controlling interests<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">78</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">78</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total equity<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>47&nbsp;307</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>78&nbsp;692</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-31&nbsp;385</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Liabilities<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Non-current liabilities<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Financial debts<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">21&nbsp;225</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">22&nbsp;470</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1&nbsp;245</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Lease liabilities<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">6</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1&nbsp;664</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1&nbsp;664</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Deferred tax liabilities<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">5&nbsp;422</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">7&nbsp;475</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-2&nbsp;053</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Provisions and other non-current liabilities<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">6&nbsp;201</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">7&nbsp;319</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1&nbsp;118</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total non-current liabilities<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>34&nbsp;512</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>37&nbsp;264</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-2&nbsp;752</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Current liabilities<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Dividend in kind distribution liability<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">26&nbsp;361</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">26&nbsp;361</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Trade payables<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">4&nbsp;638</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">5&nbsp;556</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-918</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Financial debts and derivative financial instruments<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">7&nbsp;428</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">9&nbsp;678</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-2&nbsp;250</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Lease liabilities<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">6</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">273</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">273</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Current income tax liabilities<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1&nbsp;844</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2&nbsp;038</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-194</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Provisions and other current liabilities<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">10&nbsp;479</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">12&nbsp;284</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1&nbsp;805</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Liabilities of disposal group held for sale<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">3</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">41</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">51</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-10</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Liabilities related to discontinued operations<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">10</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">5&nbsp;063</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">5&nbsp;063</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total current liabilities<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>56&nbsp;127</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>29&nbsp;607</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>26&nbsp;520</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total liabilities<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>90&nbsp;639</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>66&nbsp;871</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>23&nbsp;768</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total equity and liabilities<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>137&nbsp;946</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>145&nbsp;563</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-7&nbsp;617</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td height="10px" colspan="10">
      <font style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;"></font>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="10">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>&nbsp;</sup></div>
    </td>
  </tr>
</table><br><div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"></div>
<div style="TEXT-ALIGN: center; WIDTH: 100%">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">18</font>
</div>
<div style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt;">
  <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; PAGE-BREAK-AFTER: always; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade>
</div>
<div style="WIDTH: 100%; TEXT-ALIGN: center; ">&#xA0;</div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:13pt; color:#000000; font-weight:bold;">Consolidated statements of changes in equity<font style="font-weight: normal;">&nbsp;</font>
  </font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">First quarter<font style="font-weight: normal;"> (unaudited)</font>
  </font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;"></font><br><br></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
  <tr valign="bottom">
    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><br>(USD millions)</font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><br><br><br><br>Share<br>capital<sup>      </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><br><br><br><br>Treasury<br>shares<sup>      </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><br><br><br><br>Retained<br>earnings<sup>      </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><br><br><br><br>Total value<br>adjustments<sup>      </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Issued share <br>capital and <br>reserves <br>attributable <br>to Novartis <br>shareholders<sup>      </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><br><br><br>Non-<br>controlling<br>interests<sup>      </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><br><br><br><br>Total<br>equity<sup>      </sup></font>
    </td>
    <td></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td width="24%" height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total equity at January 1, 2019<sup></sup></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>944</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-69</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>82&nbsp;191</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-4&nbsp;452</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>78&nbsp;614</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>78</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>78&nbsp;692</b></font>
    </td>
    <td align="right" width="1%"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Impact of change in accounting policies<sup>1</sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">3</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">3</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">3</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Restated equity at January 1, 2019<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>944</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-69</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>82&nbsp;194</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-4&nbsp;452</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>78&nbsp;617</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>78</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>78&nbsp;695</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Net income<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1&nbsp;766</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1&nbsp;766</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1&nbsp;767</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other comprehensive income<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-54</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-702</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-756</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-757</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total comprehensive income<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;712</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-702</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;010</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;010</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Dividends<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-6&nbsp;645</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-6&nbsp;645</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-6&nbsp;645</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Dividend in kind<sup>2</sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-26&nbsp;361</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-26&nbsp;361</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-26&nbsp;361</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Purchase of treasury shares<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-201</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-202</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-202</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Exercise of options and employee transactions<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 3</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 197</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 200</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 200</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Equity-based compensation<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">4</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">268</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">272</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">272</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Decrease of treasury share  repurchase obligation under  a share buyback trading plan<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">  </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">  </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">  284</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">  </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">  284</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">  </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">  284</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Transaction costs<sup>3</sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">48</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">48</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">48</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Fair value adjustments on financial assets sold<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 16</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -16</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other movements<sup>4</sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">6</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">6</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">6</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total of other equity movements<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>6</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-32&nbsp;388</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-16</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-32&nbsp;398</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-32&nbsp;398</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total equity at March 31, 2019<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>944</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-63</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>51&nbsp;518</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-5&nbsp;170</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>47&nbsp;229</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>78</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>47&nbsp;307</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td height="10px" colspan="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;"></font>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>1&nbsp;</sup>The impact of change in accounting policy includes USD 3 million related to the implementation of IFRS 16 &#x2013; Leases  (see Notes 2 and 6 for further details).</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>2&nbsp;</sup>Fair value of the dividend-in-kind of Alcon Inc. shares to Novartis AG shareholders and ADR (American Depositary Receipt) holders approved at the 2019 Annual General Meeting held on February 28, 2019. Distribution was effected on April 9, 2019, whereby each Novartis AG shareholders and ADR holder received 1 Alcon Inc, share for every 5 Novartis AG shares/ADRs they held on April 8, 2019, close of business (Refer to Note 2 and 3  for further details)</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>3&nbsp;</sup>Transaction costs directly attributable to the distribution (spin-off) of Alcon to Novartis shareholders (see Note 2)</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>4&nbsp;</sup>Impact of hyperinflationary economies</div>
    </td>
  </tr>
</table><br><table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
  <tr valign="bottom">
    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><br>(USD millions)</font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><br><br><br><br>Share<br>capital<sup>      </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><br><br><br><br>Treasury<br>shares<sup>      </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><br><br><br><br>Retained<br>earnings<sup>      </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><br><br><br><br>Total value<br>adjustments<sup>      </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Issued share <br>capital and <br>reserves <br>attributable <br>to Novartis <br>shareholders<sup>      </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><br><br><br>Non-<br>controlling<br>interests<sup>      </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><br><br><br><br>Total<br>equity<sup>      </sup></font>
    </td>
    <td></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td width="24%" height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total equity at January 1, 2018<sup></sup></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>969</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-100</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>77&nbsp;639</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-4&nbsp;340</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>74&nbsp;168</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>59</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>74&nbsp;227</b></font>
    </td>
    <td align="right" width="1%"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Impact of change in accounting policies<sup>1</sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">237</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-177</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">60</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">60</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Restated equity at January 1, 2018<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>969</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-100</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>77&nbsp;876</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-4&nbsp;517</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>74&nbsp;228</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>59</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>74&nbsp;287</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Net income<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2&nbsp;025</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2&nbsp;025</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">3</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2&nbsp;028</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other comprehensive income<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">35</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1&nbsp;248</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1&nbsp;283</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1&nbsp;282</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total comprehensive income<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;060</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;248</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>3&nbsp;308</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>3&nbsp;310</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Dividends<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-6&nbsp;966</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-6&nbsp;966</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-6&nbsp;966</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Purchase of treasury shares<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-90</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-91</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-91</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Exercise of options and employee transactions<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 4</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 429</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 433</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 433</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Equity-based compensation<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">4</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">183</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">187</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">187</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Fair value adjustments on financial assets sold<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 7</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -7</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Impact of change in ownership of  consolidated entities<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 52</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 51</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total of other equity movements<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>7</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-6&nbsp;438</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-7</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-6&nbsp;438</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>52</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-6&nbsp;386</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total equity at March 31, 2018<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>969</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-93</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>73&nbsp;498</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-3&nbsp;276</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>71&nbsp;098</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>113</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>71&nbsp;211</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td height="10px" colspan="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;"></font>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>1&nbsp;</sup>The impact of change in accounting policy includes USD 60 million relating to the implementation of IFRS 15 &#x2013; Revenue from Contracts with Customers and USD 177 million relating to the implementation of  IFRS 9 - Financial instruments.  (see Note 1 and 29 of the 2018 Annual Report)</div>
    </td>
  </tr>
</table><br><div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;"></font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"></div>
<div style="TEXT-ALIGN: center; WIDTH: 100%">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">19</font>
</div>
<div style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt;">
  <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; PAGE-BREAK-AFTER: always; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade>
</div>
<div style="WIDTH: 100%; TEXT-ALIGN: center; ">&#xA0;</div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:13pt; color:#000000; font-weight:bold;">Consolidated statements of cash flows </font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">First quarter<font style="font-weight: normal;"> (unaudited)</font>
  </font><br><br></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
  <tr valign="bottom">
    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">(USD millions)</font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Note<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Q1 2019<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Q1 2018<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Change<sup> </sup></font>
    </td>
    <td></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td width="36%" height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Net income from continuing operations<sup></sup></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="9%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="9%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;868</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="9%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;970</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="9%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-102</b></font>
    </td>
    <td align="right" width="1%"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Adjustments to reconcile net income from continuing operations to net cash flows from operating activities from continuing operations<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Reversal of non-cash items and other adjustments<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">7</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2&nbsp;016</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1&nbsp;465</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">551</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Dividends received from associated companies and others<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">460</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">464</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-4</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Interest received<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">85</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">50</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">35</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Interest paid<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-167</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-144</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-23</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other financial payments<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-44</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-63</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">19</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Taxes paid<sup>1</sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-400</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-389</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-11</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Net cash flows from operating activities from continuing operations  before working capital and provision changes<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> 3&nbsp;818</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> 3&nbsp;353</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> 465</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Payments out of provisions and other net cash movements in  non-current liabilities<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -193</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -143</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -50</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Change in net current assets and other operating cash flow items<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1&nbsp;291</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-829</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-462</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Net cash flows from operating activities from  continuing operations<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> </b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> 2&nbsp;334</b></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> </b></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> 2&nbsp;381</b></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> </b></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> -47</b></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> </b></font>
    </td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Net cash flows from operating activities from discontinued  operations<sup> 1</sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 78</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 133</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -55</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total net cash flows from operating activities<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;412</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;514</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-102</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Purchase of property, plant and equipment<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-282</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-258</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-24</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Proceeds from sales of property, plant and equipment<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">164</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">45</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">119</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Purchase of intangible assets<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-337</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-416</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">79</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Proceeds from sales of intangible assets<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">71</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">194</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-123</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Purchase of financial assets<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-109</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-32</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-77</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Proceeds from sales of financial assets<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">35</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">9</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">26</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Purchase of other non-current assets<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-10</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-4</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-6</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Proceeds from sales of other non-current assets<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">3</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">0</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">3</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Acquisitions of interests in associated companies<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-2</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Acquisitions and divestments of businesses, net<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-96</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-3&nbsp;507</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">3&nbsp;411</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Purchase of marketable securities and commodities<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-45</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-140</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">95</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Proceeds from sales of marketable securities and commodities<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2&nbsp;359</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">152</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2&nbsp;207</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Net cash flows from/used in investing activities from continuing  operations<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> 1&nbsp;751</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> -3&nbsp;958</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> 5&nbsp;709</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Net cash flows used in investing activities from discontinued  operations<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -423</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -137</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -286</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total net cash flows from/used in investing activities<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;328</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-4&nbsp;095</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>5&nbsp;423</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Dividends paid to shareholders of Novartis AG<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-6&nbsp;645</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-6&nbsp;966</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">321</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Acquisition of treasury shares<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-222</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-175</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-47</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Proceeds from exercise of options and  other treasury share transactions<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 200</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 433</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -233</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Increase in non-current financial debts<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2&nbsp;765</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-2&nbsp;765</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Repayments of non-current financial debts<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-3&nbsp;001</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">0</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-3&nbsp;001</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Change in current financial debts<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-149</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2&nbsp;451</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-2&nbsp;600</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Payments of lease liabilities<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-22</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-22</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Impact of change in ownership of consolidated entities<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-5</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">5</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Dividends paid to non-controlling interests and other financing  cash flows<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -461</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 4</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -465</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Net cash flows used in financing activities from  continuing operations<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> -10&nbsp;300</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> -1&nbsp;493</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> -8&nbsp;807</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Net cash flows from/used in financing activities from  discontinued operations<sup> 2</sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 617</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -53</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 670</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total net cash flows used in financing activities<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-9&nbsp;683</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-1&nbsp;546</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-8&nbsp;137</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Net change in cash and cash equivalents<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-5&nbsp;943</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-3&nbsp;127</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-2&nbsp;816</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Less cash and cash equivalents of discontinued operations at  March 31, 2019<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -499</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -499</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Effect of exchange rate changes on cash and cash equivalents<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-22</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">80</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-102</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total net change in cash and cash equivalents<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-6&nbsp;464</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-3&nbsp;047</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-3&nbsp;417</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Cash and cash equivalents at January 1<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">13&nbsp;271</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">8&nbsp;860</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">4&nbsp;411</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Cash and cash equivalents at March 31<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>6&nbsp;807</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>5&nbsp;813</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>994</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td height="10px" colspan="10">
      <font style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;"></font>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="10">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>1&nbsp;</sup>In Q1 2019,  the total net tax payment amounted to USD 438 million (Q1 2018: USD 467 million), of which USD 38 million (Q1 2018: USD 78 million) is included in the "Net cash flows from operating activities from discontinued operations."&nbsp;&nbsp;&nbsp;&nbsp;</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="10">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>2&nbsp;</sup>Including USD 51 million transaction cost payments directly attributable to the distribution (spin-off) of the Alcon business to Novartis shareholders (see Note 2)</div>
    </td>
  </tr>
</table><br><div style="TEXT-ALIGN: center; WIDTH: 100%">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">20</font>
</div>
<div style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt;">
  <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; PAGE-BREAK-AFTER: always; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade>
</div>
<div style="WIDTH: 100%; TEXT-ALIGN: center; ">&#xA0;</div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:13pt; color:#000000; font-weight:bold;">Notes to the Condensed Interim Consolidated Financial Statements for&#xA0;the&#xA0;three-month period ended March 31, 2019 <font style="font-weight: normal;">(unaudited)</font>
  </font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">1. Basis of preparation</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">These Condensed Interim Consolidated Financial Statements for the three-month period ended March&#xA0;31, 2019, were prepared in accordance with International Accounting Standard 34 <I>Interim Financial Reporting </I>and accounting policies set out in the Annual Report 2018 published on January&#xA0;30, 2019.</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">2. Selected critical accounting policies</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The Group&#x2019;s principal accounting policies are set out in Note 1 to the Consolidated Financial Statements in the Annual Report 2018 and conform with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board. </font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The presentation of financial statements requires management to make subjective and complex judgments that affect the reported amounts. Because of the inherent uncertainties, actual outcomes and results may differ from management&#x2019;s assumptions and estimates. </font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">As disclosed in the 2018 Annual Report, goodwill, Alcon brand name and acquired In-Process Research &amp; Development projects are reviewed for impairment at least annually and these, as well as all other investments in intangible assets, are reviewed for impairment whenever an event or decision occurs that raises concern about their balance sheet carrying value. The amount of goodwill and other intangible assets on the Group&#x2019;s consolidated balance sheet has risen significantly in recent years, primarily from acquisitions. Impairment testing may lead to potentially significant impairment charges in the future that could have a materially adverse impact on the Group&#x2019;s results of operations and financial condition. </font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">During the first quarter of 2019, at the Annual General Meeting (AGM) of Novartis AG shareholders, held on February 28, 2019, the Novartis AG shareholders approved a special distribution by way of a dividend in kind to effect the spin-off of Alcon Inc. The shareholder approval required the recognition of a distribution liability at the fair value of the Alcon business to be distributed to Novartis AG shareholders. This required the use of valuation techniques for purposes of impairment testing of the Alcon business&#x2019; assets to be distributed and for the measurement of the fair value of the distribution liability. These valuations required the use of management assumptions and estimates related to the Alcon business&#x2019; future cash flows, market multiples to estimate day one market value and control premiums to apply in estimating the Alcon business fair value. These fair value measurements are classified as &#x201C;Level 3&#x201D; in the fair value hierarchy. Note 1 and Note 10 to the Consolidated Financial Statements in the Annual Report 2018 provide additional information on key assumptions that are highly sensitive in the estimation of fair values using valuation techniques. Due to these factors and inherent uncertainties in the use of estimates, actual outcomes and results could vary significantly. </font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The shareholder approval for the spin-off on February 28, 2019, required the Alcon Division and select portions of Corporate activities attributable to Alcon&#x2019;s business (the &#x201C;Alcon business&#x201D;) to be reported as discontinued operations. Refer to Note 3 and Note 10 for further details.</font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">Transaction costs recorded in Equity</font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">Transaction costs that are directly attributable to the distribution (spin-off) of Alcon to the Novartis AG shareholders, and that would otherwise have been avoided, are recorded as a deduction from equity. </font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">Non-current assets held for sale or held for distribution to owners</font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">Non-current assets are classified as assets held for sale or related to discontinued operations when their carrying amount is to be recovered principally through a sale transaction or distribution to owners and a sale or distribution to owners is considered highly probable. They are stated at the lower of carrying amount and fair value less costs to sell with any resulting impairment recognized. Assets related to discontinued operations and assets of disposal group held for sale are not depreciated or amortized.</font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">Distribution liability </font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The distribution liability is recorded at the date of shareholder approval for the distribution of the business assets to the shareholders. The Group has elected to measure the distribution liability at the fair value of the business assets taken as a whole to be distributed to shareholders. As a result, the distribution liability is recognized based on the fair value of the Alcon business. The distribution liability is recognized through a reduction in retained earnings. It is adjusted at each balance sheet date for changes in its estimated fair value, up to the date of the distribution to shareholders through retained earnings. Any resulting impairment of the business assets to be distributed is recognized in the consolidated income statements in &#x201C;Other expense&#x201D; of discontinued operations, at the date of initial recognition of the distribution liability or at subsequent dates resulting from changes of the distribution liability valuation. At the distribution settlement date, any resulting gain, which is measured as the excess amount of the distribution liability over the then carrying value of the assets of the business distributed, is recognized on a separate line in the income statement of discontinued operations. </font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">New IFRS standards effective as of January 1, 2019</font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">IFRS 16 LEASES</font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">IFRS 16 Leases substantially changed the &#xFB01;nancial statements as the majority of leases for which the company is the lessee became on-balance sheet liabilities with corresponding right-of-use assets also recognized on the balance sheet. The lease liability reflects the net present value of the remaining lease payments, and the right-of-use asset corresponds to the lease liability, adjusted for payments made before the commencement date, lease incentives and other items related to the lease agreement. The standard replaces IAS 17 Leases. </font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">Upon adoption of the new standard, a portion of the annual operating lease costs, which was previously fully recognized as a functional expense, is recorded as interest expense. In addition, the portion of the lease payments which represents the reduction of the lease liability is recognized in the cash flow statement as an outflow from financing activities, which was previously fully recognized as an outflow from operating activities. Given the leases involved and the current low interest rate environment, these effects are not significant to the presentation of our consolidated income statement as well as consolidated cash flows from operating activities and from financing activities.</font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The Group implemented the new standard on January 1, 2019, and applied the modified retrospective method, with right-of-use assets measured at an amount equal to the lease liability, adjusted by the amount of the prepaid or accrued lease payments relating to those leases recognized in the balance sheet immediately before the date of initial application and will not restate prior years.</font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">Results of our impact assessment:  </font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The undiscounted operating lease commitments as of December 31, 2018, disclosed in Note 27 to the Consolidated Financial Statements in the Annual Report 2018, amounted to USD 3.6 billion. This includes approximately USD 0.1 billion of leases with a commencement date in 2019 and short-term leases, as well as low-value leases that are recognized from January 1, 2019, upon adoption of IFRS 16, on a straight-line basis as expense in profit and loss. This also includes USD 0.2 billion lease commitments related to the Alcon Division, which is attributable to discontinued operation in 2019. For the remaining lease commitments attributable to continuing operations of USD 3.3 billion, the Group recognized on January 1, 2019, lease liabilities of USD 1.74 billion and right-of-use assets USD 1.56 billion (after adjustments for the USD 0.18 billion prepayments and accrued lease payments recognized as at December 31, 2018). For the lease commitments attributable to discontinued operations, the Group recognized on January 1, 2019, lease liabilities and right of use assets of USD 0.2 billion. This does not include the discontinued operations right to use assets and lease liability on finance lease agreements of USD 75 million and USD 89 million, respectively. There was an insignificant impact to retained earnings upon adoption of IFRS 16 of USD 3 million that arose from subleases that were accounted for as operating lease agreements under IAS 17 and are accounted for as finance leases under IFRS 16.</font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">As a lessor, the Group had no significant impact upon adoption. </font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">For further information on the impact of adoption and additional disclosures of IFRS 16 Leases, see Note 6. </font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The Group has updated accounting policies, effective January 1, 2019, upon adoption of IFRS 16 &#x2013; Leases are as follows:</font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">Leases</font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">As lessee, the Group assesses whether a contract contains a lease at inception of a contract. The Group recognizes a right-of-use asset and a corresponding lease liability for all arrangements in which it is a lessee, except for leases with a term of twelve months or less (short-term leases) and low value leases. For these short-term and low value leases, the Group recognizes the lease payments as an operating expense on a straight-line basis over the term of the lease. </font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The lease liability is initially measured at the present value of the future lease payments as from the commencement date of the lease. The lease payments are discounted using the interest rate implicit in the lease or, if not readily determinable, the Novartis incremental borrowing rate in the respective markets. </font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The right-of-use assets are initially recognized on the balance sheet at cost, which comprises the amount of the initial measurement of the corresponding lease liability, adjusted for any lease payments made at or prior to the commencement date of the lease, any lease incentive received and any initial direct costs incurred by Novartis, and expected costs for obligations to dismantle and remove right-of-use assets when they are no longer used.</font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">Right-of-use assets are depreciated on a straight-line basis from the commencement date of the lease over the shorter of the useful life of the right-of-use asset or the end of the lease term. </font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">Right-of-use assets are assessed for impairment whenever there is an indication that the balance sheet carrying amount may not be recoverable using cash flow projections for the useful life.</font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">3. Significant transactions</font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">Significant transaction closed in April 2019</font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">Completion of the spin-off of the Alcon business through a dividend in kind distribution to Novartis AG shareholders </font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">On June 29, 2018, Novartis announced its intention to seek shareholder approval for the spin-off of the Alcon business into a separately traded standalone company, following the complete structural separation of the Alcon business into a standalone company (the Alcon business or Alcon Inc.). </font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The Novartis AG shareholders approved the spin-off of the Alcon business at the 2019 Annual General Meeting held on February 28, 2019, subject to completion of certain conditions precedent to the distribution. Upon shareholder approval, the Alcon business was reported as discontinued operations and the fair value of the Alcon business exceeded the carrying value of its net assets.</font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The conditions precedent to the spin-off were met and on April 8, 2019, the spin-off of the Alcon business was effected by way of a distribution of a dividend in kind of Alcon Inc. shares to Novartis AG shareholders and ADR (American Depositary Receipt) holders (the Distribution). Through the Distribution, each Novartis AG shareholder received 1 Alcon Inc. share for every 5 Novartis AG shares/ADRs they held on April 8, 2019, close of business. As of April 9, 2019, the shares of Alcon Inc. are listed on the SIX Swiss Exchange (SIX) and on the New York Stock Exchange (NYSE) under the symbol &#x201C;ALC&#x201D;. </font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">At March 31, 2019, the dividend in kind distribution liability to effect the spin-off of the Alcon business (the distribution liability) amounted to USD 26.4 billion and is in excess of the carrying value of the Alcon business net assets as at March 31, 2019 of USD 23.1 billion. The distribution liability remained unchanged from its initial valuation date of February 28, 2019. </font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">On March 6, 2019, Alcon entered into financing arrangements with a syndicate of banks under which it borrowed on April 2, 2019 a total amount of USD 3.2 billion. These borrowings consisted of approximately USD 2.8 billion and the equivalent of USD 0.4 billion in EUR in bridge and other term loans under such Alcon facilities agreement. In addition, approximately USD 0.3 billion of borrowings under a number of local bilateral facilities in different countries, with the largest share of borrowings in Japan, were raised. This resulted in a total gross debt of USD 3.5 billion. These outstanding borrowings of the Alcon legal entities were recorded in discontinued operations. Prior to the spin-off, through a series of intercompany transactions, Alcon legal entities paid approximately USD 3.1 billion in cash to Novartis and its affiliates. </font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">At the April 8, 2019 Distribution, the fair value of the distribution liability of the Alcon business amounted to USD 23.4 billion. A decrease of USD 3.0 billion from March 31, 2019. As mentioned above, prior to the spin-off, through a series of intercompany transactions, Alcon legal entities incurred additional net financial debt and paid approximately USD 3.1 billion in cash to Novartis and its affiliates. This additional net debt and transactions resulted in a decrease in Alcon&#x2019;s net assets to USD 20.0 billion at the date of the Distribution of the dividend in kind to Novartis shareholders on April 8, 2019. The distribution liability at April 8, 2019, remained in excess of the then carrying value of the Alcon business net assets.</font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">Certain consolidated foundations own Novartis AG dividend bearing shares restricting their availability for use by the Group. These Novartis AG shares are accounted for as treasury shares. Through the Distribution, foundations received Alcon Inc. shares representing an approximate 4.7% equity interest in Alcon Inc. Upon the loss of control of Alcon Inc. through the Distribution, the financial investment in Alcon Inc. was recognized at its fair value based on the opening traded share price of Alcon Inc. on April 9, 2019 (a Level 1 hierarchy valuation). At initial recognition, its fair value of USD 1.3 billion will be reported on the Group&#x2019;s consolidated balance sheet as a financial asset. Management has designated this investment at fair value through other comprehensive income.</font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The total non-cash gain recognized at the completion of the spin-off of the Alcon business on April 9, 2019, amounts to approximately USD 4.7 billion and will be recognized in the second quarter 2019.</font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">Significant pending transactions </font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Innovative Medicines &#x2013; Acquisition of IFM Tre, Inc. <br></font>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">On March 27, 2019, Novartis entered into an agreement to acquire IFM Tre, Inc., a privately held, US based biopharmaceutical company focused on developing anti-inflammatory medicines targeting the NLRP3 inflammasome. The acquisition will give Novartis full rights to IFM Tre Inc.&#x2019;s portfolio of NLPR3 antagonists. The NLPR3 antagonists portfolio consists of one clinical and two pre-clinical programs: IFM-2427, a first-in-class, clinical stage systemic antagonist for an array of chronic inflammatory disorders including atherosclerosis and nonalcoholic steatohepatitis (NASH); a pre-clinical stage gut-directed molecule for the treatment of inflammatory bowel disease; and a pre-clinical stage central nervous system (CNS)-penetrant molecule.  </font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">Under the terms of the agreement, Novartis will acquire all of the outstanding capital stock of IFM Tre Inc. The consideration consists of an upfront payment of USD 310 million and contingent consideration, which the shareholder is eligible to receive upon the achievement of specified development and commercialization milestones. The acquisition is expected to close during the second quarter of 2019. Closing of the transaction is subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act.</font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Sandoz &#x2013; Divestment of US dermatology business and generic US oral solids portfolio<br></font>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">On September 6, 2018, Novartis announced it has agreed to sell selected portions of its Sandoz US portfolio, specifically the Sandoz US dermatology business and generic US oral solids portfolio, to Aurobindo Pharma USA Inc. (Aurobindo), for USD 0.8 billion in cash and potential earn-outs.</font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The Sandoz US portfolios to be sold to Aurobindo include approximately 300 products as well as additional development projects. The sale includes the Sandoz US generic and branded dermatology businesses as well as its dermatology development center. As part of the transaction, Aurobindo will acquire the manufacturing facilities in Wilson, North Carolina, and in Hicksville and Melville, New York.</font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The transaction is expected to close in the course of 2019 following the completion of customary closing conditions. As the fair value of the consideration (USD 0.8 billion) less costs to sell is below the carrying value of the divested business (USD 1.0 billion, which includes an allocation of Sandoz goodwill of USD 0.2 billion), an impairment of the net assets to be divested in the amount of USD 0.2 billion was recognized as a reduction to goodwill. </font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">In the Group&#x2019;s consolidated balance sheet at March 31, 2019 and at December 31, 2018, the business assets and liabilities of the Sandoz US dermatology business and generic US oral solids portfolio are separately shown as assets and liabilities of disposal group held for sale. </font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The disposal group, assets and liabilities classified as held for sale consist of the following:</font><br><br></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
  <tr valign="bottom">
    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><br>(USD millions)</font>
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    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Mar 31, <br>2019<sup>  </sup></font>
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    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Dec 31, <br>2018<sup>  </sup></font>
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    <td></td>
    <tr>
      <td colspan="6" style="border-bottom: solid #000000 1px;"></td>
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  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td width="56%" height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Assets of disposal group classified as held for sale<sup></sup></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="14%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="14%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right" width="1%"></td>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Property, plant and equipment<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">153</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">148</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Intangible assets other than goodwill<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">478</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">478</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Deferred tax assets<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">6</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">8</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other non-current assets<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Inventories<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">188</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">165</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other current assets<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">11</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">7</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>837</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>807</b></font>
    </td>
    <td align="right"></td>
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      <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Liabilities of disposal group classified as held for sale<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Deferred tax liabilities<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Provisions and other non-current liabilities<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">4</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">4</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Provisions and other current liabilities<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">35</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">45</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>41</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>51</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
</table><br><div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">There are no cumulative income or expenses included in other comprehensive income relating to the disposal group.</font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">Significant transaction closed in first quarter 2019 &#x2013; Discontinued operations</font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">In March 2019, Alcon acquired PowerVision, Inc. (PowerVision), a privately-held, US-based medical device development company focused on developing accommodative, implantable intraocular lenses. The fair value of the total purchase consideration was USD 424 million. The amount consisted of an initial cash payment of USD 289 million and the net present value of the contingent consideration of USD 135 million, due to PowerVision shareholders, which they are eligible to receive upon the achievement of specified regulatory and commercialization milestones. The preliminary purchase price allocation resulted in net identifiable assets of USD 418 million, consisting of intangible assets, of USD 505 million, net deferred tax liabilities of USD 93 million, other net assets of USD 6 million, and goodwill of USD 6 million. The 2019 results of operations since the date of the acquisition are not material.</font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">Significant transactions in 2018</font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Innovative Medicines &#x2013; Acquisition of Advanced Accelerator Applications S.A.<br></font>
</div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">On October 30, 2017, Novartis entered into a binding memorandum of understanding with Advanced Accelerator Applications S.A. (AAA), a company headquartered in Saint-Genis-Pouilly, France, under which Novartis agreed to commence a tender offer for 100% of the share capital of AAA subject to certain conditions. Novartis commenced the tender offer on December 7, 2017, to purchase all of the outstanding ordinary shares for a price of USD 41 per share and USD 82 per American Depositary Share (ADS), each representing two ordinary shares of AAA, which expired on January 19, 2018. The offer valued AAA&#x2019;s equity at USD 3.9 billion, on a fully diluted basis. </font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">As of January 19, 2018, the expiration date of the tender offer, approximately 97% of the then-outstanding fully diluted ordinary shares, including ordinary shares represented by ADSs (hereinafter collectively referred to as &#x201C;the outstanding shares&#x201D;), were validly tendered. On January 22, 2018, Novartis accepted and paid USD 3.9 billion for the outstanding shares tendered in the offer. On January </font><br><br></div>
<div style="TEXT-ALIGN: center; WIDTH: 100%">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">25</font>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">22, 2018, Novartis commenced a subsequent offering period that expired on January 31, 2018. As of the expiration of the subsequent offering period, an additional 1.8% of the outstanding shares were validly tendered. Novartis accepted and paid approximately USD 60 million, resulting in an increase in Novartis ownership in AAA to 98.7%. </font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The fair value of the total purchase consideration was USD 3.9 billion. The purchase price allocation resulted in net identifiable assets of approximately USD 1.9 billion, consisting of USD 2.5 billion intangible assets, USD 0.6 billion net deferred tax liabilities, and goodwill of approximately USD 2.0 billion. In 2018, from the date of the acquisition the business generated net sales of USD 0.4 billion. Management estimates net sales for the entire year 2018 would have amounted to USD 0.4 billion had AAA been acquired at the beginning of 2018. The 2018 results from operations since the date of the acquisition were not material.</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">As of December 31, 2018, Novartis held 99.1% of the then-outstanding fully diluted ordinary shares, including ordinary shares represented by ADSs.</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">AAA is a radiopharmaceutical company that develops, produces and commercializes molecular nuclear medicines &#x2013; including Lutathera (USAN: lutetium Lu 177 dotatate/INN: lutetium (177Lu) oxodotreotide), a first-in-class radioligand therapy product for neuroendocrine tumors &#x2013; and a portfolio of diagnostic products. Radiopharmaceuticals, such as Lutathera, are unique medicinal formulations containing radioisotopes, which are used clinically for both diagnosis and therapy.</font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Innovative Medicines &#x2013; Acquisition of AveXis, Inc.<br></font>
</div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">On April 6, 2018, Novartis entered into an agreement and plan of merger with AveXis, Inc., a US-based clinical stage gene therapy company, under which Novartis commenced on April 17, 2018, a tender offer to purchase all outstanding common stock of AveXis, Inc. for USD 218 per share in cash. On May 15, 2018, Novartis completed the acquisition of the common stock of AveXis, Inc. and paid a total of USD 8.7 billion. </font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The fair value of the total purchase consideration was USD 8.7 billion. The purchase price allocation resulted in net identifiable assets of approximately USD 7.2 billion, consisting of USD 8.5 billion intangible assets, USD 1.6 billion net deferred tax liabilities and other net assets of USD 0.3 billion, and goodwill of approximately USD 1.5 billion. Results of operations since the date of acquisition were not material.</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">AveXis, Inc. is focused on developing and commercializing novel treatments for patients suffering from rare and life-threatening neurological genetic diseases. AveXis, Inc.&#x2019;s initial product candidate, AVXS-101, is a proprietary gene therapy currently in development for the treatment of spinal muscular atrophy (SMA) type 1 &#x2013; the leading genetic cause of infant mortality &#x2013; and SMA types 2 and 3. In addition, AveXis, Inc. has a pipeline of other novel treatments for rare neurological diseases, including Rett syndrome (RTT) and a genetic form of amyotrophic lateral sclerosis (ALS) caused by mutations in the superoxide dismutase 1 (SOD1) gene.</font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Innovative Medicines &#x2013; acquisition of Endocyte, Inc.<br></font>
</div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">On October 18, 2018, Novartis entered into an agreement and plan of merger with Endocyte, a US-based bio-pharmaceutical company focused on developing targeted therapeutics for cancer treatment. The transaction was completed on December 21, 2018. Under the terms of the agreement, Novartis acquired all outstanding shares of Endocyte common stock for USD 24 per share. The total consideration amounted to USD 2.1 billion.</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The fair value of the total purchase consideration was USD 2.1 billion. The preliminary purchase price allocation resulted in net identi&#xFB01;able assets of approximately USD 1.5 billion, consisting of USD 1.5 billion intangible assets, USD 0.3 billion net deferred tax liabilities and other net assets of USD 0.3 billion, and goodwill of approximately USD 0.6 billion. The purchase price allocation is preliminary as the transaction closed on December 21, 2018, which is close to the Group&#x2019;s year-end and therefore not providing sufficient time to complete the valuation of the intangible assets, deferred taxes, assumed liabilities and goodwill. If new information is obtained within 12 months from December 21, 2018, about facts and circumstances that existed at the date of the acquisition identi&#xFB01;es adjustments to the above amounts, or any additional provisions that existed at the date of acquisition, then the accounting for the acquisition will be revised. The Group currently does not expect such potential revisions to be material. The 2018 results from operations since the date of the acquisition were not material.</font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">26</font>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">Endocyte uses drug conjugation technology to develop targeted therapies with companion imaging agents, including 177Lu-PSMA-617, a potential &#xFB01;rst-in-class investigational radioligand therapy for the treatment of metastatic castration-resistant prostate cancer (mCRPC).</font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Corporate &#x2013; Divestment of 36.5% stake in GlaxoSmithKline Consumer Healthcare Holdings Ltd. <br></font>
</div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">On March 27, 2018, Novartis entered into an agreement with GlaxoSmithKline plc (GSK) to divest its 36.5% stake in GlaxoSmithKline Consumer Healthcare Holdings Ltd. to GSK for USD 13.0 billion in cash. As a result, Novartis discontinued the use of equity method accounting starting from April 1, 2018. </font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">On June 1, 2018, the transaction closed and Novartis realized a pre-tax gain of USD 5.8 billion, recorded in income from associated companies.</font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">4. Summary of equity attributable to Novartis AG shareholders </font><br><br></div>
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    <td height="10px">
      <font style="font-family:Times New Roman,sans-serif; font-size:10pt;color:#00ff00;"></font>
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    <td></td>
    <td colspan="5" align="center" height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">  Number of outstanding shares (in millions)<sup></sup></font>
    </td>
    <td></td>
    <td colspan="5" align="center" height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Issued share capital and reserves attributable to Novartis AG shareholders (in USD millions)<sup></sup></font>
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    <td></td>
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      <td height="3"></td>
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      <td height="1"></td>
    </tr>
    <tr>
      <td height="1"></td>
      <td height="1"></td>
      <td colspan="5" style="border-bottom: solid #999999 1px;"></td>
      <td height="1"></td>
      <td colspan="5" style="border-bottom: solid #999999 1px;"></td>
      <td height="1"></td>
    </tr>
    <tr bgcolor="white">
      <td height="3"></td>
      <td height="1"></td>
      <td colspan="5" height="3"></td>
      <td height="1"></td>
      <td colspan="5" height="3"></td>
      <td height="1"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">2019<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2018<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Change<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Q1 2019<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Q1 2018<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Change<sup> </sup></font>
    </td>
    <td></td>
    <tr>
      <td colspan="14" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td width="28%" height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Balance at beginning of year<sup></sup></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="7%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;311.2</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="7%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;317.5</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="7%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-6.3</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="7%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>78&nbsp;614</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="7%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>74&nbsp;168</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="7%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>4&nbsp;446</b></font>
    </td>
    <td align="right" width="1%"></td>
    <tr>
      <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Impact of change in accounting policy<sup> 1</sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> </b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> </b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> </b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 3</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 60</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -57</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Restated equity at January 1<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>78&nbsp;617</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>74&nbsp;228</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>4&nbsp;389</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Shares acquired to be cancelled<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-0.8</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-0.8</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-71</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-71</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other share purchases<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1.4</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1.3</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-0.1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-131</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-91</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-40</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Exercise of options and  employee transactions<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 5.5</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 7.7</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -2.2</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 200</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 433</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -233</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Equity-based compensation<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">8.3</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">6.9</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1.4</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">272</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">187</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">85</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Decrease of treasury share repurchase obligation under a share buyback trading plan<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">  </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">  </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">  </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">  284</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">  </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">  284</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Dividends to  shareholders of Novartis AG<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -6&nbsp;645</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -6&nbsp;966</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 321</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Dividend in kind<sup>2</sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-26&nbsp;361</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-26&nbsp;361</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Net income of the period attributable to shareholders of Novartis AG<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;766</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;025</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -259</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other comprehensive income  attributable to shareholders of  Novartis AG<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">  </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">  </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">  </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">  -756</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">  1&nbsp;283</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">  -2&nbsp;039</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Transaction costs<sup>3</sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">48</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">48</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Impact of change in ownership of  consolidated entities<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 1</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other movements<sup>4</sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">6</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">6</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Balance at March 31<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;322.8</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;330.8</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-8.0</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>47&nbsp;229</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>71&nbsp;098</b></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-23&nbsp;869</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td colspan="14">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>&nbsp;</sup></div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="14">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>1&nbsp;</sup>In Q1 2019, the impact of change in accounting policy includes USD 3 million related to the implementation of IFRS 16 &#x2013; Leases  (see Notes 2 and 6 for further details). In Q1 2018, the impact of change in accounting policy includes USD 60 million relating to the implementation of IFRS 15 &#x2013; Revenue from Contracts with Customers implementation and USD 177 million relating to the implementation IFRS 9 - Financial instruments (see Note 1 and 29 of the 2018 Annual report)</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="14">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>2&nbsp;</sup>Fair value of the dividend-in-kind of Alcon Inc. shares to Novartis AG shareholders and ADR (American Depositary Receipt) holders approved at the 2019 Annual General Meeting held on February 28, 2019. Distribution was effected on April 8, 2019, whereby each Novartis AG shareholders and ADR holder received 1 Alcon Inc, share for every 5 Novartis AG shares/ADRs they held on April 8, 2019, close of business (Refer to Note 2 and 3  for further details)</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="14">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>3&nbsp;</sup>Transaction costs directly attributable to the distribution (spin-off) of Alcon to Novartis AG shareholders (see Note 2)</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="14">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>4&nbsp;</sup>Impact of hyperinflationary economies</div>
    </td>
  </tr>
</table><br><div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">27</font>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">5. Financial instruments </font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;"></font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">Fair value by hierarchy</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The following table illustrates the three hierarchical levels for valuing financial instruments at fair value and those measured at amortized cost as of March 31, 2019 and December&#xA0;31, 2018. For additional information on the hierarchies and other matters, please refer to the Consolidated Financial Statements in the 2018 Annual Report, published on January 30, 2019. </font><br><br></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
  <tr valign="bottom">
    <td height="10px">
      <font style="font-family:Times New Roman,sans-serif; font-size:10pt;color:#00ff00;"></font>
    </td>
    <td></td>
    <td colspan="3" align="center" height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> Level 1<sup></sup></font>
    </td>
    <td></td>
    <td colspan="3" align="center" height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> Level 2<sup></sup></font>
    </td>
    <td></td>
    <td colspan="3" align="center" height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> Level 3<sup></sup></font>
    </td>
    <td></td>
    <td colspan="3" align="center" height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Valued at amortized cost or cost<sup></sup></font>
    </td>
    <td></td>
    <td colspan="3" align="center" height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> Total<sup></sup></font>
    </td>
    <td></td>
    <tr bgcolor="white">
      <td height="3"></td>
      <td height="1"></td>
      <td colspan="3" height="3"></td>
      <td height="1"></td>
      <td colspan="3" height="3"></td>
      <td height="1"></td>
      <td colspan="3" height="3"></td>
      <td height="1"></td>
      <td colspan="3" height="3"></td>
      <td height="1"></td>
      <td colspan="3" height="3"></td>
      <td height="1"></td>
    </tr>
    <tr>
      <td height="1"></td>
      <td height="1"></td>
      <td colspan="3" style="border-bottom: solid #999999 1px;"></td>
      <td height="1"></td>
      <td colspan="3" style="border-bottom: solid #999999 1px;"></td>
      <td height="1"></td>
      <td colspan="3" style="border-bottom: solid #999999 1px;"></td>
      <td height="1"></td>
      <td colspan="3" style="border-bottom: solid #999999 1px;"></td>
      <td height="1"></td>
      <td colspan="3" style="border-bottom: solid #999999 1px;"></td>
      <td height="1"></td>
    </tr>
    <tr bgcolor="white">
      <td height="3"></td>
      <td height="1"></td>
      <td colspan="3" height="3"></td>
      <td height="1"></td>
      <td colspan="3" height="3"></td>
      <td height="1"></td>
      <td colspan="3" height="3"></td>
      <td height="1"></td>
      <td colspan="3" height="3"></td>
      <td height="1"></td>
      <td colspan="3" height="3"></td>
      <td height="1"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><br>(USD millions)</font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Mar 31, <br>2019<sup>  </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Dec 31, <br>2018<sup>  </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Mar 31, <br>2019<sup>  </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Dec 31, <br>2018<sup>  </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Mar 31, <br>2019<sup>  </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Dec 31, <br>2018<sup>  </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Mar 31, <br>2019<sup>  </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Dec 31, <br>2018<sup>  </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Mar 31, <br>2019<sup>  </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Dec 31, <br>2018<sup>  </sup></font>
    </td>
    <td></td>
    <tr>
      <td colspan="22" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td width="16%" height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Debt securities<sup></sup></font>
    </td>
    <td align="right" width="1%"></td>
    <td align="right" width="4%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right" width="1%"></td>
    <td align="right" width="4%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">302</font>
    </td>
    <td align="right" width="1%"></td>
    <td align="right" width="4%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">23</font>
    </td>
    <td align="right" width="1%"></td>
    <td align="right" width="4%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">23</font>
    </td>
    <td align="right" width="1%"></td>
    <td align="right" width="4%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right" width="1%"></td>
    <td align="right" width="4%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right" width="1%"></td>
    <td align="right" width="4%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right" width="1%"></td>
    <td align="right" width="4%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right" width="1%"></td>
    <td align="right" width="4%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">23</font>
    </td>
    <td align="right" width="1%"></td>
    <td align="right" width="4%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">325</font>
    </td>
    <td align="right" width="1%"></td>
    <tr>
      <td colspan="22" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Fund investments<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">35</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">35</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">35</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">35</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total marketable securities<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>35</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>337</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>23</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>23</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>58</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>360</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Time deposits and short term investments with original  maturity more than 90 days<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 76</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;087</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 76</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;087</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Derivative financial instruments<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">66</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">130</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">66</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">130</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Accrued interest on debt securities<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">12</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">12</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total marketable securities, time deposits  and derivative financial instruments<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> 35</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> 337</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> 89</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> 153</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> </b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> </b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> 76</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> 2&nbsp;099</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> 200</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> 2&nbsp;589</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Financial investments and long-term loans<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Financial investments<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">766</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">698</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">549</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">488</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1&nbsp;315</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1&nbsp;186</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Fund investments<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">214</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">251</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">214</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">251</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Contingent consideration receivables<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">407</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">396</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">407</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">396</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Long-term loans and receivables from customers  and finance lease, advances, security deposits<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 329</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 512</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 329</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 512</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Financial investments and long-term loans<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>766</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>698</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;170</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;135</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>329</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>512</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;265</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;345</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Associated companies at fair value through profit or loss<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>163</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>145</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>163</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>145</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Contingent consideration payables<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-630</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-907</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-630</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-907</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other financial liabilities<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-30</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-10</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-30</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-10</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Derivative financial instruments<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-30</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-58</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-30</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-58</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Dividend in kind distribution liability<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-26&nbsp;361</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-26&nbsp;361</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total financial liabilities at fair value<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-30</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-58</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-27&nbsp;021</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-917</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-27&nbsp;051</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-975</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
</table><br><div style="TEXT-ALIGN: center; WIDTH: 100%">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">28</font>
</div>
<div style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt;">
  <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; PAGE-BREAK-AFTER: always; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade>
</div>
<div style="WIDTH: 100%; TEXT-ALIGN: center; ">&#xA0;</div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">During the first quarter of 2019, there were no significant transfers from one level to the other and no significant transactions associated with level 3 financial instruments. </font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The fair value of straight bonds amounted to USD 22.9 billion at March 31, 2019 (USD 25.4 billion at December 31, 2018) compared to the balance sheet value of USD 22.1 billion at March 31, 2019 (USD 25.3 billion at December 31, 2018). For all other financial assets and liabilities, the carrying amount is a reasonable approximation of the fair value. The carrying amount of financial assets included in the line financial investments and long-term loans of USD&#xA0;2.3 billion at March 31, 2019 (USD&#xA0;2.3 billion at December&#xA0;31, 2018) is included in line &#x201C;Financial and other non-current assets&#x201D; of the consolidated balance sheets.</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The Group&#x2019;s exposure to financial risks has not changed significantly during the period and there have been no major changes to the risk management department or in any risk management policies.</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">6. Lease liability and Right-of-use assets</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">Note 2 explains the changes and new accounting policy introduced on January 1, 2019, resulting from the adoption of the new accounting standards IFRS 16 &#x2013;Leases.</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The Group has entered into various fixed-term leases, mainly for vehicles and real estate. </font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The lease liability recorded in continuing operations on January 1, 2019, was USD 1&#x2005;736 million and the right of use assets was USD 1&#x2005;554 million. </font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">Reconciliation of lease commitment disclosed on December 31, 2018, and lease liability recorded in continuing operations on January 1, 2019 is as follows:</font><br><br></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
  <tr valign="bottom">
    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">(USD millions)</font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><sup> </sup></font>
    </td>
    <td></td>
    <tr>
      <td colspan="4" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td width="80%" height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Operating lease commitments December 31, 2018<sup>1</sup></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="20%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">3&nbsp;612</font>
    </td>
    <td align="right" width="1%"></td>
    <tr>
      <td colspan="4" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Operating lease commitments December 31, 2018 related to discontinued operations<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-222</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Operating lease commitments December 31, 2018 related to continuing operations<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>3&nbsp;390</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Recognition exemption for short term leases<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-30</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Recognition exception for low value leases<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-12</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Lease arrangements with commencement date after December 31, 2018<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-65</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Undiscounted future lease payments continuing operations as of January 1, 2019<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>3&nbsp;283</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Effect of discounting<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-1&nbsp;547</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Lease liability as of January 1, 2019<sup>2</sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;736</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td colspan="4">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>&nbsp;</sup>&nbsp;&nbsp;&nbsp;</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="4">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>1&nbsp;</sup>As reported in Annual Report 2018 Note 27</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="4">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>2&nbsp;</sup>Weighted average incremental borrowing rate of 3.5% was applied at January 1, 2019, the date of implementation of IFRS 16 - Leases.</div>
    </td>
  </tr>
</table><br><div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The right-of-use assets of continuing operations at January 1, 2019 by underlying class of asset comprise the following:</font><br><br></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
  <tr valign="bottom">
    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">(USD millions)</font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">January 1, 2019<sup> </sup></font>
    </td>
    <td></td>
    <tr>
      <td colspan="4" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td width="80%" height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Land<sup></sup></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="20%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">536</font>
    </td>
    <td align="right" width="1%"></td>
    <tr>
      <td colspan="4" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Buildings<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">848</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Vehicles<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">147</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Machinery &amp; equipment and other assets<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">23</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Right-of-use assets<sup>1</sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;554</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td colspan="4">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>&nbsp;</sup>&nbsp;&nbsp;&nbsp;</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="4">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>1&nbsp;</sup>Right-of-use assets were lower than the lease liability at the date of implementation of IFRS 16 by USD 182 million, due to adjustments made for prepayments and accrued lease payments recognized at December 31, 2018.<b></b></div>
    </td>
  </tr>
</table><br><div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The lease liability recorded in discontinued operations on January 1, 2019 was USD 286 million and the right of use asset was USD 276 million, including USD 89 million and USD 75 million, respectively, for the previously reported finance lease obligations. </font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">As a result of applying the modified retrospective method at the date of implementation of IFRS 16 on January 1, 2019, whereby the right-of-use assets were measured at the amount equal to the lease </font><br><br></div>
<div style="TEXT-ALIGN: center; WIDTH: 100%">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">29</font>
</div>
<div style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt;">
  <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; PAGE-BREAK-AFTER: always; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade>
</div>
<div style="WIDTH: 100%; TEXT-ALIGN: center; ">&#xA0;</div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">liability, there is no impact to the reported deferred tax assets and deferred tax liabilities on the consolidated balance sheet, as the corresponding deferred tax assets and deferred tax liabilities attributable to the lease liability and right of use asset relate to income taxes levied by the same taxation authority within the same legal entity, and were therefore offset. </font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The impact on retained earnings upon implementation of IFRS 16 was USD 3 million arising from subleases that were accounted for as operating lease agreements under IAS 17 and are accounted for as finance leases under IFRS 16.</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The lease liability at March 31, 2019, for continuing operations was USD 1&#x2005;937 million. The corresponding interest expense for three months ended March 31, 2019, amounts to USD 16 million. The portion of the lease payments recognized as a reduction of the lease liabilities and as a cash outflow from financing activities for the three months end March 31, 2019 amounted to USD 22 million. This amount is net of lease incentives of USD 29 million received during the period.  </font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The maturity analysis of the lease liability at March 31, 2019, is as follows:</font><br><br></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
  <tr valign="bottom">
    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">(USD millions)</font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">March 31, 2019<sup> </sup></font>
    </td>
    <td></td>
    <tr>
      <td colspan="4" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td width="80%" height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Less than one year<sup></sup></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="20%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">273</font>
    </td>
    <td align="right" width="1%"></td>
    <tr>
      <td colspan="4" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Between one and two years<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">194</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Between two and three years<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">163</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Between three and four years<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">142</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Between four and five years<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">123</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">After five years<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1&nbsp;042</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total lease liability<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;937</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
</table><br><div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The right-of-use assets of continuing operations at March 31, 2019, amounted to USD 1&#x2005;721 million and the depreciation charge amounted to USD 75 million and is shown below by underlying class of asset: </font><br><br></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
  <tr valign="bottom">
    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><br>(USD millions)</font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><br>March 31, 2019<br>Carrying value<sup>   </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Depreciation<br>charge <br>Q1 2019<sup>   </sup></font>
    </td>
    <td></td>
    <tr>
      <td colspan="6" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td width="56%" height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Land<sup></sup></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="14%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">544</font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="14%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">5</font>
    </td>
    <td align="right" width="1%"></td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Buildings<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1&nbsp;024</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">47</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Vehicles<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">131</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">21</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Machinery &amp; equipment and other assets<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">22</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;721</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>75</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
</table><br><div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The additions to right-of-use assets for the three months ended March 31, 2019, amounted to USD 256 million. </font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The Group accounts for the expense of short-term leases of twelve months or less and underlying assets of low value leases on a straight line basis over the lease term. The expense for the three months ended March 31, 2019, related to these leases amounted USD 2 million and USD 1 million, respectively. </font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The income from subleasing right-of-use assets for the three months ended March 31, 2019, is not significant. </font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">For the three months ended March 31, 2019, there was no significant gains or losses from sales leaseback and no significant leases entered into that are not yet commenced.</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The lease liabilities and the right-of-use assets of discontinued operations amounted to USD 269 million and USD 269 million, respectively, at March 31, 2019. </font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;"></font><br><br></div>
<div style="TEXT-ALIGN: center; WIDTH: 100%">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">30</font>
</div>
<div style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt;">
  <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; PAGE-BREAK-AFTER: always; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade>
</div>
<div style="WIDTH: 100%; TEXT-ALIGN: center; ">&#xA0;</div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">7. Details to the consolidated statements of cash flows </font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">Reversal of non-cash items and other adjustments</font><br><br></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
  <tr valign="bottom">
    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">(USD millions)</font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Q1 2019<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Q1 2018<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Change<sup> </sup></font>
    </td>
    <td></td>
    <tr>
      <td colspan="8" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td width="44%" height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Depreciation, amortization and impairments on:<sup></sup></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="11%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="11%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="11%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right" width="1%"></td>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">Property, plant and equipment<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">423</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">361</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">62</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">Intangible assets<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1&nbsp;018</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">644</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">374</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">Financial assets<sup>1</sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">12</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-75</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">87</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Non-cash change in provisions and other non-current liabilities<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">60</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">138</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-78</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Gains on disposal and other adjustments on property,  plant and equipment; intangible assets; financial assets; and other  non-current assets, net<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">  -69</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">  -186</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">  117</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Equity-settled compensation expense<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">198</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">182</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">16</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Income from associated companies<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-80</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-152</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">72</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Taxes<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">272</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">370</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-98</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Net financial expense<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">182</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">183</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;016</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;465</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>551</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td height="10px" colspan="8">
      <font style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;"></font>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="8">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>1&nbsp;</sup>Includes fair value adjustments</div>
    </td>
  </tr>
</table><br><div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">8. Legal proceedings update </font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">A number of Novartis companies are, and will likely continue to be, subject to various legal proceedings, including litigations, arbitrations and governmental investigations, that arise from time to time. Legal proceedings are inherently unpredictable. As a result, the Group may become subject to substantial liabilities that may not be covered by insurance and may in the future incur judgments or enter into settlements of claims that could have a material adverse effect on its results of operations or cash flow. Note 19 to the Consolidated Financial Statements in our 2018 Annual Report and 2018 Form 20-F contains a summary as of the date of these reports of significant legal proceedings to which Novartis or its subsidiaries were a party. The following is a summary as of April 23, 2019 of significant developments in those proceedings, as well as any new significant proceedings commenced since the date of the 2018 Annual Report and 2018 Form 20-F.</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt;color:#000000; font-weight:bold; text-decoration:underline;">INVESTIGATIONS AND RELATED LITIGATIONS<br></font>
</div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt;color:#000000; font-weight:bold; text-decoration:underline;"><B><I>Southern District of New York (S.D.N.Y.) marketing practices investigation and litigation</I></B><br></font>
</div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">In 2013, the US government filed a civil complaint in intervention to an individual <I>qui tam</I> action against Novartis Pharmaceuticals Corporation (NPC) in the United States District Court for the S.D.N.Y. The complaint, as subsequently amended, asserts federal False Claims Act and common law claims with respect to speaker programs and other promotional activities for certain NPC cardiovascular medications (including <I>Lotrel</I>, <I>Starlix</I> and <I>Valturna</I>) allegedly serving as mechanisms to provide kickbacks to healthcare professionals. It seeks damages and disgorgement of Novartis profits from the alleged unlawful conduct which, based on the government&#x2019;s calculation, with trebling and penalties could exceed USD 1 billion. Also in 2013, New York State filed a civil complaint in intervention asserting similar claims. Neither government complaint in intervention adopted the individual relator&#x2019;s claims with respect to off-label promotion of <I>Valturna</I>, which were subsequently dismissed with prejudice by the court. The individual relator continues to litigate the kickback claims on behalf of other states and municipalities. A trial in the S.D.N.Y. matter is currently scheduled in 2019. The claims are being vigorously contested.</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">In addition to the matter described above, there have been other developments in the other legal matters described in Note 19 to the Consolidated Financial Statements contained in our 2018 Annual Report and 2018 Form 20-F.</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The developments during the first quarter of 2019 do not significantly affect the assessment of management concerning the adequacy of the total provisions recorded for legal proceedings.</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"></div>
<div style="TEXT-ALIGN: center; WIDTH: 100%">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">31</font>
</div>
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</div>
<div style="WIDTH: 100%; TEXT-ALIGN: center; ">&#xA0;</div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">9. Segmentation of key figures </font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The businesses of Novartis are divided operationally on a worldwide basis into two identified reporting segments, Innovative Medicines and Sandoz. In addition, we separately report Corporate activities.</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">Reporting segments are presented in a manner consistent with the internal reporting to the chief operating decision maker which is the Executive Committee of Novartis. The reporting segments are managed separately because they each research, develop, manufacture, distribute and sell distinct products that require differing marketing strategies.</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The Executive Committee of Novartis is responsible for allocating resources and assessing the performance of the reporting segments.</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The reporting segments are as follows:</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">Innovative Medicines researches, develops, manufactures, distributes and sells patented prescription medicines. The Innovative Medicines Division is organized into two global business units: Novartis Oncology and Novartis Pharmaceuticals. Novartis Oncology consists of the global business franchise Oncology, and Novartis Pharmaceuticals consists of the global business franchises Ophthalmology; Neuroscience; Immunology, Hepatology and Dermatology; Respiratory; Cardio-Metabolic; and Established Medicines.</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">Sandoz develops, manufactures and markets finished dosage form medicines as well as intermediary products including active pharmaceutical ingredients. Sandoz is organized globally into three franchises: Retail Generics, Anti-Infectives and Biopharmaceuticals. In Retail Generics, Sandoz develops, manufactures and markets active ingredients and finished dosage forms of pharmaceuticals to third parties. Retail Generics includes the areas of cardiovascular, central nervous system, dermatology, gastrointestinal and hormonal therapies, metabolism, oncology, ophthalmics, pain and respiratory, as well as finished dosage form anti-infectives sold to third parties. In Anti-Infectives, Sandoz manufactures and supplies active pharmaceutical ingredients and intermediates, mainly antibiotics, for internal use by Retail Generics and for sale to third-party customers. In Biopharmaceuticals, Sandoz develops, manufactures and markets protein- or other biotechnology-based products, including biosimilars, and provides biotechnology manufacturing services to other companies.</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The divisions are supported by Novartis Institutes for BioMedical Research, Global Drug Development, Novartis Technical Operations and Novartis Business Services. Corporate activities include Group headquarter functions and items that are not specific to one segment. Further details are provided in Note 3 to the Consolidated Financial Statements of the Annual Report 2018.</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">Following the February 28, 2019, shareholders&#x2019; approval of the spin-off of the Alcon business (refer to Notes 2 and 3 for further details), the Group reported its consolidated financial statements for the current and prior years as &#x201C;continuing operations&#x201D; and &#x201C;discontinued operations.&#x201D; </font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">Continuing operations comprise the activities of Innovative Medicines and Sandoz Divisions and the continuing Corporate activities. </font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">Discontinued operations include the operational results from the Alcon eye care devices business and certain Corporate activities attributable to the Alcon business prior to the spin-off, and certain other expenses related to the Distribution.</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">Alcon: researches, discovers, develops, manufactures, distributes and sells a broad range of eye care products. Alcon is the leading eye care devices company globally. Alcon is organized into two global business franchises: Surgical and Vision Care. Surgical researches, develops, manufactures, distributes and sells ophthalmic products for cataract surgery, vitreoretinal surgery, refractive laser surgery and glaucoma surgery. The Surgical portfolio also includes implantables, consumables and surgical equipment required for these procedures and supports the end-to-end procedure needs of the ophthalmic surgeon. Vision Care researches, develops, manufactures, distributes and sells daily disposable, reusable, and color-enhancing contact lenses and a comprehensive portfolio of ocular health products, including products for dry eye, contact lens care and ocular allergies, as well as ocular vitamins and redness relievers. Alcon also provides services, training, education and technical support for both the Surgical and Vision Care businesses.</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;"></font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"></div>
<div style="TEXT-ALIGN: center; WIDTH: 100%">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">32</font>
</div>
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  <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; PAGE-BREAK-AFTER: always; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade>
</div>
<div style="WIDTH: 100%; TEXT-ALIGN: center; ">&#xA0;</div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">Segmentation &#x2013; Consolidated income statement &#x2013; First quarter </font><br><br></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
  <tr valign="bottom">
    <td height="10px">
      <font style="font-family:Times New Roman,sans-serif; font-size:10pt;color:#00ff00;"></font>
    </td>
    <td></td>
    <td colspan="3" align="center" height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Innovative Medicines<sup></sup></font>
    </td>
    <td></td>
    <td colspan="3" align="center" height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> Sandoz<sup></sup></font>
    </td>
    <td></td>
    <td colspan="3" align="center" height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Corporate (including eliminations)<sup></sup></font>
    </td>
    <td></td>
    <td colspan="3" align="center" height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> Group<sup></sup></font>
    </td>
    <td></td>
    <tr bgcolor="white">
      <td height="3"></td>
      <td height="1"></td>
      <td colspan="3" height="3"></td>
      <td height="1"></td>
      <td colspan="3" height="3"></td>
      <td height="1"></td>
      <td colspan="3" height="3"></td>
      <td height="1"></td>
      <td colspan="3" height="3"></td>
      <td height="1"></td>
    </tr>
    <tr>
      <td height="1"></td>
      <td height="1"></td>
      <td colspan="3" style="border-bottom: solid #999999 1px;"></td>
      <td height="1"></td>
      <td colspan="3" style="border-bottom: solid #999999 1px;"></td>
      <td height="1"></td>
      <td colspan="3" style="border-bottom: solid #999999 1px;"></td>
      <td height="1"></td>
      <td colspan="3" style="border-bottom: solid #999999 1px;"></td>
      <td height="1"></td>
    </tr>
    <tr bgcolor="white">
      <td height="3"></td>
      <td height="1"></td>
      <td colspan="3" height="3"></td>
      <td height="1"></td>
      <td colspan="3" height="3"></td>
      <td height="1"></td>
      <td colspan="3" height="3"></td>
      <td height="1"></td>
      <td colspan="3" height="3"></td>
      <td height="1"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">(USD millions)</font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Q1 2019<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Q1 2018<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Q1 2019<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Q1 2018<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Q1 2019<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Q1 2018<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Q1 2019<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Q1 2018<sup> </sup></font>
    </td>
    <td></td>
    <tr>
      <td colspan="18" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td width="20%" height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Net sales to third parties from continuing operations<sup></sup></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="5%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>8&nbsp;780</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="5%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>8&nbsp;398</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="5%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;326</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="5%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;517</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="5%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="5%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="5%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>11&nbsp;106</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="5%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>10&nbsp;915</b></font>
    </td>
    <td align="right" width="1%"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Sales to continuing and discontinued segments<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">249</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">168</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">39</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">57</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-235</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-212</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">53</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">13</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Net sales from continuing operations<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>9&nbsp;029</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>8&nbsp;566</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;365</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;574</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-235</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-212</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>11&nbsp;159</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>10&nbsp;928</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other revenues<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">261</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">223</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">28</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">4</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">7</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">8</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">296</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">235</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Cost of goods sold<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-2&nbsp;224</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-2&nbsp;273</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1&nbsp;276</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1&nbsp;398</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">249</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">220</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-3&nbsp;251</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-3&nbsp;451</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Gross profit from continuing operations<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>7&nbsp;066</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>6&nbsp;516</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;117</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;180</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>21</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>16</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>8&nbsp;204</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>7&nbsp;712</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Selling, general and administration<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-2&nbsp;653</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-2&nbsp;555</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-562</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-602</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-115</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-127</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-3&nbsp;330</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-3&nbsp;284</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Research and development<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-2&nbsp;105</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1&nbsp;783</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-194</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-199</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-2&nbsp;299</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1&nbsp;982</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other income<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">75</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">211</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">37</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">113</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">91</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">64</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">203</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">388</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other expense<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-274</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-254</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-125</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-83</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-137</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-126</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-536</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-463</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Operating income from continuing operations<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;109</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;135</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>273</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>409</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-140</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-173</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;242</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;371</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>as % of net sales<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>24.0%</i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>25.4%</i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>11.7%</i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>16.2%</i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>20.2%</i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>21.7%</i></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Income from associated companies<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">80</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">152</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">80</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">152</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Interest expense<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-226</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-218</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other financial income and expense, net<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">44</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">35</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Income before taxes from continuing operations<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;140</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;340</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Taxes<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-272</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-370</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Net income from continuing operations<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;868</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;970</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Net loss/income from discontinued operations<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-101</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">58</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Net income<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;767</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;028</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td colspan="18">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>&nbsp;</sup></div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="18">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>&nbsp;</sup></div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="18">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>&nbsp;</sup></div>
    </td>
  </tr>
</table><br><div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">Segmentation &#x2013; Additional balance sheet disclosure</font><br><br></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
  <tr valign="bottom">
    <td height="10px">
      <font style="font-family:Times New Roman,sans-serif; font-size:10pt;color:#00ff00;"></font>
    </td>
    <td></td>
    <td colspan="3" align="center" height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Innovative Medicines<sup></sup></font>
    </td>
    <td></td>
    <td colspan="3" align="center" height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> Sandoz<sup></sup></font>
    </td>
    <td></td>
    <td colspan="3" align="center" height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Corporate (including eliminations)<sup></sup></font>
    </td>
    <td></td>
    <td colspan="3" align="center" height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> Group<sup></sup></font>
    </td>
    <td></td>
    <tr bgcolor="white">
      <td height="3"></td>
      <td height="1"></td>
      <td colspan="3" height="3"></td>
      <td height="1"></td>
      <td colspan="3" height="3"></td>
      <td height="1"></td>
      <td colspan="3" height="3"></td>
      <td height="1"></td>
      <td colspan="3" height="3"></td>
      <td height="1"></td>
    </tr>
    <tr>
      <td height="1"></td>
      <td height="1"></td>
      <td colspan="3" style="border-bottom: solid #999999 1px;"></td>
      <td height="1"></td>
      <td colspan="3" style="border-bottom: solid #999999 1px;"></td>
      <td height="1"></td>
      <td colspan="3" style="border-bottom: solid #999999 1px;"></td>
      <td height="1"></td>
      <td colspan="3" style="border-bottom: solid #999999 1px;"></td>
      <td height="1"></td>
    </tr>
    <tr bgcolor="white">
      <td height="3"></td>
      <td height="1"></td>
      <td colspan="3" height="3"></td>
      <td height="1"></td>
      <td colspan="3" height="3"></td>
      <td height="1"></td>
      <td colspan="3" height="3"></td>
      <td height="1"></td>
      <td colspan="3" height="3"></td>
      <td height="1"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><br>(USD millions)</font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Mar 31, <br>2019<sup>  </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Dec 31, <br>2018<sup>  </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Mar 31, <br>2019<sup>  </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Dec 31, <br>2018<sup>  </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Mar 31, <br>2019<sup>  </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Dec 31, <br>2018<sup>  </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Mar 31, <br>2019<sup>  </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Dec 31, <br>2018<sup>  1</sup></font>
    </td>
    <td></td>
    <tr>
      <td colspan="18" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td width="20%" height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Net operating assets<sup></sup></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="5%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>56&nbsp;026</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="5%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>53&nbsp;999</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="5%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>13&nbsp;984</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="5%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>13&nbsp;951</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="5%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="5%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="5%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>68&nbsp;848</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="5%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>94&nbsp;876</b></font>
    </td>
    <td align="right" width="1%"></td>
    <tr>
      <td colspan="18" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Included in net operating assets are:<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Property, plant and equipment<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">9&nbsp;803</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">10&nbsp;098</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2&nbsp;081</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2&nbsp;159</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">531</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">561</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">12&nbsp;415</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">15&nbsp;696</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Goodwill<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">18&nbsp;525</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">18&nbsp;551</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">7&nbsp;763</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">7&nbsp;837</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">7</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">7</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">26&nbsp;295</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">35&nbsp;294</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Intangible assets other than goodwill<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">25&nbsp;200</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">26&nbsp;042</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1&nbsp;779</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1&nbsp;875</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">42</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">123</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">27&nbsp;021</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">38&nbsp;719</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td height="10px" colspan="18">
      <font style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;"></font>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="18">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>1&nbsp;</sup>Group December 31, 2018 balances include the net operating assets of the Alcon segment amounting to USD 24.0 billion, including property, plant and equipment of USD 2.9 billion, Goodwill of USD 8.9 billion and intangible assets other than goodwill of USD 10.7 billion, that are reported as discontinued operations at March 31, 2019 (refer to Note 2, 3 and 10).&nbsp;&nbsp;&nbsp;</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="18">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>&nbsp;</sup></div>
    </td>
  </tr>
</table><br><div style="TEXT-ALIGN: center; WIDTH: 100%">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">33</font>
</div>
<div style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt;">
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<div style="WIDTH: 100%; TEXT-ALIGN: center; ">&#xA0;</div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">Segmentation &#x2013; Net sales by region<sup>1</sup> &#x2013; First quarter</font><br><br></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
  <tr valign="bottom">
    <td height="10px">
      <font style="font-family:Times New Roman,sans-serif; font-size:10pt;color:#00ff00;"></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Q1 2019<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Q1 2018<sup> </sup></font>
    </td>
    <td></td>
    <td colspan="3" align="center" height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">% change<sup></sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Q1 2019<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Q1 2018<sup> </sup></font>
    </td>
    <td></td>
    <tr bgcolor="white">
      <td height="3"></td>
      <td height="1"></td>
      <td height="1"></td>
      <td height="1"></td>
      <td height="1"></td>
      <td height="1"></td>
      <td colspan="3" height="3"></td>
      <td height="1"></td>
      <td height="1"></td>
      <td height="1"></td>
      <td height="1"></td>
      <td height="1"></td>
    </tr>
    <tr>
      <td height="1"></td>
      <td height="1"></td>
      <td height="1"></td>
      <td height="1" width="3" style="border-bottom: solid #FFFFFF 1px;"></td>
      <td height="1"></td>
      <td height="1" width="3" style="border-bottom: solid #FFFFFF 1px;"></td>
      <td colspan="3" style="border-bottom: solid #999999 1px;"></td>
      <td height="1"></td>
      <td height="1"></td>
      <td height="1" width="3" style="border-bottom: solid #FFFFFF 1px;"></td>
      <td height="1"></td>
      <td height="1" width="3" style="border-bottom: solid #FFFFFF 1px;"></td>
    </tr>
    <tr bgcolor="white">
      <td height="3"></td>
      <td height="1"></td>
      <td height="1"></td>
      <td height="1"></td>
      <td height="1"></td>
      <td height="1"></td>
      <td colspan="3" height="3"></td>
      <td height="1"></td>
      <td height="1"></td>
      <td height="1"></td>
      <td height="1"></td>
      <td height="1"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">USD m<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">USD m<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">USD<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">cc<sup> 2</sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">% of total<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">% of total<sup> </sup></font>
    </td>
    <td></td>
    <tr>
      <td colspan="14" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td width="28%" height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Innovative Medicines<sup></sup></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="7%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="7%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="7%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="7%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="7%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="7%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right" width="1%"></td>
    <tr>
      <td colspan="14" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">Europe<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">3&nbsp;134</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">3&nbsp;092</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">11</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">36</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">37</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">US<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2&nbsp;993</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2&nbsp;652</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">13</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">13</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">34</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">32</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">Asia/Africa/Australasia<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2&nbsp;017</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1&nbsp;989</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">6</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">23</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">24</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">Canada and Latin America<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">636</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">665</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-4</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">9</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">7</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">7</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>8&nbsp;780</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>8&nbsp;398</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>5</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>10</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>100</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>100</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;"><i>Of which in Established Markets<sup></sup></i></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">6&nbsp;567</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">6&nbsp;210</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">6</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">10</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">75</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">74</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;"><i>Of which in Emerging Growth Markets<sup></sup></i></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2&nbsp;213</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2&nbsp;188</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">12</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">25</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">26</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Sandoz<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">Europe<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1&nbsp;241</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1&nbsp;292</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-4</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">5</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">53</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">51</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">US<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">590</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">708</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-17</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-16</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">25</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">28</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">Asia/Africa/Australasia<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">318</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">323</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-2</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">3</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">14</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">13</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">Canada and Latin America<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">177</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">194</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-9</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">8</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">8</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;326</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;517</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-8</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-2</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>100</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>100</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;"><i>Of which in Established Markets<sup></sup></i></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1&nbsp;695</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1&nbsp;856</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-9</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-4</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">73</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">74</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;"><i>Of which in Emerging Growth Markets<sup></sup></i></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">631</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">661</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-5</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">5</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">27</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">26</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Continuing operations<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">Europe<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">4&nbsp;375</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">4&nbsp;384</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">0</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">9</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">39</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">40</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">US<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">3&nbsp;583</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">3&nbsp;360</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">7</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">7</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">32</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">31</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">Asia/Africa/Australasia<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2&nbsp;335</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2&nbsp;312</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">6</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">21</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">21</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">Canada and Latin America<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">813</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">859</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-5</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">7</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">8</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">8</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>11&nbsp;106</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>10&nbsp;915</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>7</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>100</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>100</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;"><i>Of which in Established Markets<sup></sup></i></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">8&nbsp;262</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">8&nbsp;066</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">7</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">74</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">74</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;"><i>Of which in Emerging Growth Markets<sup></sup></i></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2&nbsp;844</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2&nbsp;849</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">0</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">10</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">26</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">26</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="14" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom">
    <td colspan="14">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>1&nbsp;</sup>Net sales from operations by location of third-party customer. Emerging Growth Markets comprise all markets other than the Established Markets of the US, Canada, Western Europe, Japan, Australia and New Zealand.</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="14">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>2&nbsp;</sup>Constant currencies (cc) is a non-IFRS measure. A definition of non-IFRS measures used by Novartis can be found starting on page 41.</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="14">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>&nbsp;</sup></div>
    </td>
  </tr>
</table><br><div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;"></font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;"></font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"></div>
<div style="TEXT-ALIGN: center; WIDTH: 100%">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">34</font>
</div>
<div style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt;">
  <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; PAGE-BREAK-AFTER: always; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade>
</div>
<div style="WIDTH: 100%; TEXT-ALIGN: center; ">&#xA0;</div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">Segmentation &#x2013; Net sales by business franchise</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">Innovative Medicines net sales by business franchise &#x2013; First quarter</font><br><br></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
  <tr valign="bottom">
    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Q1 2019<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Q1 2018<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">% change<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">% change<sup> </sup></font>
    </td>
    <td></td>
  </tr>
  <tr valign="bottom">
    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">USD m<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">USD m<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">USD<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">cc<sup> 3</sup></font>
    </td>
    <td></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td width="36%" height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Oncology<sup></sup></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="9%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="9%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="9%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="9%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right" width="1%"></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Tasigna<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">434</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">466</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-7</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-3</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Sandostatin<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">392</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">400</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-2</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Afinitor/Votubia<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">373</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">375</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">3</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Promacta/Revolade<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">307</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">257</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">19</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">24</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Gleevec/Glivec<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">307</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">392</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-22</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-18</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Tafinlar + Mekinist<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">297</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">267</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">11</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">18</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Jakavi<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">258</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">234</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">10</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">20</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Exjade/Jadenu<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">238</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">261</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-9</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-5</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Votrient<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">187</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">214</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-13</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-8</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Lutathera<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">106</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">6</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">nm</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">nm</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Kisqali<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">91</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">44</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">107</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">115</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Kymriah<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">45</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">12</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">275</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">282</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">286</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">263</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">9</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">14</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total Oncology business unit<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>3&nbsp;321</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>3&nbsp;191</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>4</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>9</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b><sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Ophthalmology<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Lucentis<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">533</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">520</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">10</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Travoprost Group<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">115</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">124</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-7</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-3</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">513</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">513</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">0</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">5</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total Ophthalmology<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;161</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;157</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>0</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>7</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Neuroscience<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Gilenya<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">766</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">821</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-7</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-3</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Aimovig<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">18</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">0</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">nm</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">nm</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">13</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">20</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-35</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-33</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total Neuroscience<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>797</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>841</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-5</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-1</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Immunology, Hepatology and Dermatology<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Cosentyx<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">791</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">580</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">36</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">41</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Ilaris<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">151</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">126</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">20</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">28</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total Immunology, Hepatology and Dermatology<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>942</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>706</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>33</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>39</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Respiratory<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Ultibro Breezhaler<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">104</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">106</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-2</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">7</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Seebri Breezhaler<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">31</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">38</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-18</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-10</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Onbrez Breezhaler<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">22</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">27</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-19</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-12</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Subtotal COPD<sup>1</sup> portfolio<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>157</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>171</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-8</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>0</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Xolair<sup>2</sup></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">281</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">255</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">10</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">20</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">7</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">7</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">0</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total Respiratory<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>445</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>433</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>3</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>12</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Cardio-Metabolic<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Entresto<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">357</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">200</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">79</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">85</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">6</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">4</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">50</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">29</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total Cardio-Metabolic<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>363</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>204</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>78</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>84</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Established Medicines<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><I>Galvus</I> Group<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">315</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">318</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">7</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><I>Exforge</I> Group<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">267</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">248</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">8</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">16</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><I>Diovan</I> Group<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">261</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">265</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-2</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">6</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Zortress/Certican<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">116</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">109</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">6</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">14</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><I>Voltaren/Cataflam</I><sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">113</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">115</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-2</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">5</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Neoral/Sandimmun(e)<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">103</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">115</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-10</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-5</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">576</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">696</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-17</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-12</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total Established Medicines<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;751</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;866</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-6</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total Pharmaceuticals business unit<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>5&nbsp;459</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>5&nbsp;207</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>5</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>11</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total Division net sales<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>8&nbsp;780</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>8&nbsp;398</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>5</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>10</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td height="10px" colspan="10">
      <font style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;"></font>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="10">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>1&nbsp;</sup>Chronic Obstructive Pulmonary Disease</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="10">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>2&nbsp;</sup><I>Xolair</I> sales for all indications are reported in the Respiratory franchise.</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="10">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>3&nbsp;</sup>Constant currencies (cc) is a non-IFRS measure. A definition of non-IFRS measures used by Novartis can be found starting on page 41.</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="10">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>&nbsp;</sup></div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="10">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>&nbsp;</sup></div>
    </td>
  </tr>
  <tr valign="bottom">
    <td height="10px" colspan="10">
      <font style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;">nm = not meaningful</font>
    </td>
  </tr>
</table><br><div style="TEXT-ALIGN: center; WIDTH: 100%">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">35</font>
</div>
<div style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt;">
  <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; PAGE-BREAK-AFTER: always; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade>
</div>
<div style="WIDTH: 100%; TEXT-ALIGN: center; ">&#xA0;</div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;"></font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">Net sales of the top 20 Innovative Medicines products in 2019 &#x2013; First quarter</font><br><br></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
  <tr valign="bottom">
    <td height="10px">
      <font style="font-family:Times New Roman,sans-serif; font-size:10pt;color:#00ff00;"></font>
    </td>
    <td></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td></td>
    <td colspan="3" align="center" height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">US<sup></sup></font>
    </td>
    <td></td>
    <td colspan="5" align="center" height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Rest of world<sup></sup></font>
    </td>
    <td></td>
    <td colspan="5" align="center" height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total<sup></sup></font>
    </td>
    <td></td>
    <tr bgcolor="white">
      <td height="3"></td>
      <td height="1"></td>
      <td height="1"></td>
      <td height="1"></td>
      <td height="1"></td>
      <td height="1"></td>
      <td colspan="3" height="3"></td>
      <td height="1"></td>
      <td colspan="5" height="3"></td>
      <td height="1"></td>
      <td colspan="5" height="3"></td>
      <td height="1"></td>
    </tr>
    <tr>
      <td height="1"></td>
      <td height="1"></td>
      <td height="1"></td>
      <td height="1"></td>
      <td height="1"></td>
      <td height="1"></td>
      <td colspan="3" style="border-bottom: solid #999999 1px;"></td>
      <td height="1"></td>
      <td colspan="5" style="border-bottom: solid #999999 1px;"></td>
      <td height="1"></td>
      <td colspan="5" style="border-bottom: solid #999999 1px;"></td>
      <td height="1"></td>
    </tr>
    <tr bgcolor="white">
      <td height="3"></td>
      <td height="1"></td>
      <td height="1"></td>
      <td height="1"></td>
      <td height="1"></td>
      <td height="1"></td>
      <td colspan="3" height="3"></td>
      <td height="1"></td>
      <td colspan="5" height="3"></td>
      <td height="1"></td>
      <td colspan="5" height="3"></td>
      <td height="1"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"><br>Brands<sup></sup></font>
    </td>
    <td></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"><br><br>Business franchise<sup></sup></font>
    </td>
    <td></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"><br><br>Indication<sup></sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><br><br>USD m<sup>   </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">% <br>change<br>USD/cc<sup>   2</sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><br><br>USD m<sup>   </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">% <br>change<br>USD<sup>   </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">% <br>change<br>cc<sup>   2</sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><br><br>USD m<sup>   </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">% <br>change<br>USD<sup>   </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">% <br>change<br>cc<sup>   2</sup></font>
    </td>
    <td></td>
    <tr>
      <td colspan="22" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td width="12%" height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i> Cosentyx<sup></sup></i></font>
    </td>
    <td align="right" width="1%"></td>
    <td width="12%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Immunology, Hepatology and Dermatology</font>
    </td>
    <td align="right" width="1%"></td>
    <td width="12%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Psoriasis, ankylosing  spondylitis and  psoriatic arthritis</font>
    </td>
    <td align="right" width="1%"></td>
    <td align="right" width="4%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">  474</font>
    </td>
    <td align="right" width="1%"></td>
    <td align="right" width="4%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">  49</font>
    </td>
    <td align="right" width="1%"></td>
    <td align="right" width="4%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">  317</font>
    </td>
    <td align="right" width="1%"></td>
    <td align="right" width="4%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">  21</font>
    </td>
    <td align="right" width="1%"></td>
    <td align="right" width="4%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">  32</font>
    </td>
    <td align="right" width="1%"></td>
    <td align="right" width="4%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>  791</b></font>
    </td>
    <td align="right" width="1%"></td>
    <td align="right" width="4%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>  36</b></font>
    </td>
    <td align="right" width="1%"></td>
    <td align="right" width="4%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>  41</b></font>
    </td>
    <td align="right" width="1%"></td>
    <tr>
      <td colspan="22" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Gilenya<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Neuroscience</font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Relapsing multiple sclerosis</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">392</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-6</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">374</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-8</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>766</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-7</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-3</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i> Lucentis<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> Ophthalmology</font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Age-related  macular degeneration</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 533</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 2</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 10</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> 533</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> 2</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> 10</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Tasigna<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Oncology</font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Chronic myeloid leukemia</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">180</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-9</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">254</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-5</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>434</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-7</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-3</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i> Sandostatin<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> Oncology</font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Carcinoid tumors and acromegaly</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 215</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 10</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 177</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -13</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -5</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> 392</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> -2</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> 2</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Afinitor/Votubia<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Oncology</font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Breast cancer/TSC</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">234</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">10</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">139</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-15</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-7</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>373</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-1</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>3</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Entresto<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Cardio-Metabolic</font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Chronic heart failure</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">199</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">83</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">158</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">74</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">89</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>357</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>79</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>85</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><I>Galvus</I> Group<sup></sup></font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Established Medicines</font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Diabetes</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">315</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">7</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>315</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-1</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>7</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i> Promacta/Revolade<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> Oncology</font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Immune thrombocytopenic purpura</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 148</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 19</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 159</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 20</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 29</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> 307</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> 19</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> 24</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i> Gleevec/Glivec<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> Oncology</font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Chronic myeloid leukemia and GIST</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 79</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -28</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 228</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -19</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -13</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> 307</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> -22</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> -18</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Tafinlar + Mekinist<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Oncology</font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Melanoma</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">107</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">4</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">190</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">16</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">27</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>297</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>11</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>18</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Xolair<sup>1</sup></i></font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Respiratory</font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Asthma</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">281</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">10</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">20</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>281</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>10</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>20</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><I>Exforge</I> Group<sup></sup></font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Established Medicines</font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Hypertension</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">3</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-25</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">264</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">8</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">16</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>267</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>8</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>16</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><I>Diovan</I> Group<sup></sup></font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Established Medicines</font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Hypertension</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">17</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-19</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">244</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">0</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">8</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>261</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-2</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>6</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Jakavi<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Oncology</font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Myelofibrosis</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">258</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">10</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">20</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>258</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>10</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>20</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Exjade/Jadenu<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Oncology</font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Chronic iron overload</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">113</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-3</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">125</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-14</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-8</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>238</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-9</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-5</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Votrient<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Oncology</font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Renal cell carcinoma</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">85</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-18</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">102</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-7</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">0</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>187</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-13</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-8</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i> Ilaris<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Immunology, Hepatology and Dermatology</font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Auto-inflammatory (CAPS, TRAPS, HIDS/MKD, FMF, SJIA, AOSD and gout)</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">  65</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">  16</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">  86</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">  23</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">  37</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>  151</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>  20</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>  28</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>Zortress/Certican<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Established Medicines</font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Transplantation</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">38</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">19</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">78</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">12</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>116</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>6</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>14</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> Travoprost Group<sup></sup></font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> Ophthalmology</font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Reduction of elevated  intraocular pressure</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 47</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -2</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 68</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -11</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -4</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> 115</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> -7</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> -3</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Top 20 products total<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;396</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>11</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>4&nbsp;350</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>11</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>6&nbsp;746</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>5</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>11</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Rest of portfolio<sup></sup></font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">597</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">23</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1&nbsp;437</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-3</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">4</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;034</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>3</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>9</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total division sales<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td>
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;993</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>13</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>5&nbsp;787</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>9</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>8&nbsp;780</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>5</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>10</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="22" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td height="10px" colspan="22">
      <font style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;"></font>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="22">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>1&nbsp;</sup><I>Xolair</I> sales for all indications are reported in the Respiratory franchise.</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="22">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>2&nbsp;</sup>Constant currencies (cc) is a non-IFRS measure. A definition of non-IFRS measures used by Novartis can be found starting on page 41.</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="22">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>&nbsp;</sup></div>
    </td>
  </tr>
</table><br><div style="TEXT-ALIGN: center; WIDTH: 100%">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">36</font>
</div>
<div style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt;">
  <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; PAGE-BREAK-AFTER: always; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade>
</div>
<div style="WIDTH: 100%; TEXT-ALIGN: center; ">&#xA0;</div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;"></font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">Sandoz net sales by business franchise &#x2013; First quarter</font><br><br></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
  <tr valign="bottom">
    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Q1 2019<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Q1 2018<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">% change<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">% change<sup> </sup></font>
    </td>
    <td></td>
  </tr>
  <tr valign="bottom">
    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">USD m<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">USD m<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">USD<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">cc<sup> 2</sup></font>
    </td>
    <td></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td width="36%" height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Retail Generics<sup>1</sup></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="9%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1&nbsp;850</font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="9%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2&nbsp;042</font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="9%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-9</font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="9%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-3</font>
    </td>
    <td align="right" width="1%"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Biopharmaceuticals<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">351</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">335</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">5</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">11</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Anti-Infectives<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">125</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">140</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-11</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-6</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total Division net sales<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;326</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;517</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-8</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-2</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td height="10px" colspan="10">
      <font style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;"></font>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="10">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>1&nbsp;</sup>Of which USD 204 million (2018: USD 230 million) represents Anti-Infectives sold under Sandoz name</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="10">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>2&nbsp;</sup>Constant currencies (cc) is a non-IFRS measure. A definition of non-IFRS measures used by Novartis can be found starting on page 41.</div>
    </td>
  </tr>
</table><br><div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;"></font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The product portfolio of Sandoz is widely spread in 2019 and 2018.</font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;"></font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"></div>
<div style="TEXT-ALIGN: center; WIDTH: 100%">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">37</font>
</div>
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</div>
<div style="WIDTH: 100%; TEXT-ALIGN: center; ">&#xA0;</div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">Segmentation &#x2013; Other revenue &#x2013; First quarter</font><br><br></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
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    <td height="10px">
      <font style="font-family:Times New Roman,sans-serif; font-size:10pt;color:#00ff00;"></font>
    </td>
    <td></td>
    <td colspan="3" align="center" height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Innovative Medicines<sup></sup></font>
    </td>
    <td></td>
    <td colspan="3" align="center" height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> Sandoz<sup></sup></font>
    </td>
    <td></td>
    <td colspan="3" align="center" height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> Corporate<sup></sup></font>
    </td>
    <td></td>
    <td colspan="3" align="center" height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> Group<sup></sup></font>
    </td>
    <td></td>
    <tr bgcolor="white">
      <td height="3"></td>
      <td height="1"></td>
      <td colspan="3" height="3"></td>
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      <td height="1"></td>
      <td colspan="3" height="3"></td>
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      <td colspan="3" height="3"></td>
      <td height="1"></td>
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      <td height="1"></td>
      <td height="1"></td>
      <td colspan="3" style="border-bottom: solid #999999 1px;"></td>
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      <td colspan="3" style="border-bottom: solid #999999 1px;"></td>
      <td height="1"></td>
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    <tr bgcolor="white">
      <td height="3"></td>
      <td height="1"></td>
      <td colspan="3" height="3"></td>
      <td height="1"></td>
      <td colspan="3" height="3"></td>
      <td height="1"></td>
      <td colspan="3" height="3"></td>
      <td height="1"></td>
      <td colspan="3" height="3"></td>
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    </tr>
  </tr>
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    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">(USD millions)</font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Q1 2019<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Q1 2018<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Q1 2019<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Q1 2018<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Q1 2019<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Q1 2018<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Q1 2019<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Q1 2018<sup> </sup></font>
    </td>
    <td></td>
    <tr>
      <td colspan="18" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td width="20%" height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Profit sharing income<sup></sup></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="5%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">169</font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="5%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">160</font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="5%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="5%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="5%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="5%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="5%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">169</font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="5%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">160</font>
    </td>
    <td align="right" width="1%"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Royalty income<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">34</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">43</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">3</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">7</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">8</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">44</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">52</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Milestone income<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">51</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">8</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">23</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">74</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">9</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other<sup>1</sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">7</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">12</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">9</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">14</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total other revenues<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>261</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>223</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>28</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>4</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>7</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>8</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>296</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>235</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td height="10px" colspan="18">
      <font style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;"></font>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="18">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>1&nbsp;</sup>Other includes revenue from activities such as manufacturing or other services rendered, to the extent such revenue is not recorded under net sales.</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="18">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>&nbsp;</sup></div>
    </td>
  </tr>
</table><br><div style="TEXT-ALIGN: center; WIDTH: 100%">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">38</font>
</div>
<div style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt;">
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<div style="WIDTH: 100%; TEXT-ALIGN: center; ">&#xA0;</div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;"></font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">10. Discontinued operations </font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">Consolidated income statement &#x2013; Discontinued operations</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;"></font><br><br></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
  <tr valign="bottom">
    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">(USD millions)</font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Q1 2019<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Q1 2018<sup> </sup></font>
    </td>
    <td></td>
    <tr>
      <td colspan="6" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td width="56%" height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Net sales to third parties of discontinued operations<sup></sup></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="14%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;777</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="14%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;779</b></font>
    </td>
    <td align="right" width="1%"></td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Sales to continuing segments<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">32</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">3</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Net sales of discontinued operations<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;809</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;782</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other revenues<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Cost of goods sold<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-860</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-920</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Gross profit of discontinued operations<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>949</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>862</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Selling, general and administration<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-638</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-639</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Research and development<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-142</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-138</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other income<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">15</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">19</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other expense<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-113</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-28</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Operating income of discontinued operations<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>71</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>76</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>as % of net sales<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>4.0%</i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>4.3%</i></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Interest expense<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-10</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-6</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other financial income and expense<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-3</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Income before taxes of discontinued operations<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>58</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>69</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Taxes<sup>1</sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-159</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-11</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Net loss / income of discontinued operations<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-101</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>58</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td height="10px" colspan="6">
      <font style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;"></font>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="6">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>1&nbsp;</sup>The discontinued operations tax rate of 274% was impacted by prior period items, which the Group has concluded is not material to the current period or the prior periods to which they related, and changes in uncertain tax positions. Excluding these items, the first quarter tax rate would have been 15.5%.</div>
    </td>
  </tr>
</table><br><div style="TEXT-ALIGN: center; WIDTH: 100%">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">39</font>
</div>
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<div style="WIDTH: 100%; TEXT-ALIGN: center; ">&#xA0;</div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">Consolidated balance sheet &#x2013; Discontinued operations</font><br><br></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
  <tr valign="bottom">
    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><br>(USD millions)</font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Mar 31, <br>2019<sup>  </sup></font>
    </td>
    <td></td>
    <tr>
      <td colspan="4" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td width="80%" height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Assets classified as discontinued operations<sup></sup></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="20%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right" width="1%"></td>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Non-current assets<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Property, plant and equipment<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2&nbsp;858</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Right-of-use assets<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">269</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Goodwill<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">8&nbsp;906</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Intangible assets other than goodwill<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">11&nbsp;121</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Deferred tax assets<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">732</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Financial assets<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">369</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other non-current assets<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">157</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total non-current assets<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>24&nbsp;412</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Current assets<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Inventories<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1&nbsp;469</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Trade receivables<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1&nbsp;315</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Income tax receivables<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">36</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Marketable securities, commodities, time deposits and  derivative financial instruments<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 1</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Cash and cash equivalents<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">499</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other current assets<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">435</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total current assets<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>3&nbsp;755</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total assets<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>28&nbsp;167</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Liabilities classified as discontinued operations<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Non-current liabilities<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Lease liabilities<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">219</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Deferred tax liabilities<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1&nbsp;705</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Provisions and other non-current liabilities<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1&nbsp;082</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total non-current liabilities<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>3&nbsp;006</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Current liabilities<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Trade payables<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">735</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Financial debts<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">338</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Lease liabilities<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">50</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Current income tax liabilities<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">160</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Provisions and other current liabilities<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">774</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total current liabilities<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;057</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total liabilities<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>5&nbsp;063</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b><sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Net assets<sup>1</sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>23&nbsp;104</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="4" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td height="10px" colspan="4">
      <font style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;"></font>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="4">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>1&nbsp;</sup>Prior to the spin-off, Alcon entered into financing arrangements with a syndicate of banks under which it borrowed an amount of USD 3.2 billion, resulting in a total financial debt of 3.5 billion. Prior to the spin-off, through a series of intercompany transactions, Alcon legal entities incurred additional net financial debt and paid approximately USD 3.1 billion in cash to Novartis and its affiliates. This additional net debt and transactions resulted in a decrease in Alcon&#x2019;s net assets to USD 20.0 billion at the date of the Distribution of the dividend in kind to Novartis shareholders on April 8, 2019 (see Note 3 for further explanations).</div>
    </td>
  </tr>
</table><br><div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">For additional information related to the spin-off of the Alcon business to Novartis AG shareholders, effected through a dividend in kind distribution that was completed on April 9, 2019, refer to Note 2 and 3.</font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;"></font><br><br></div>
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<div style="TEXT-ALIGN: center; WIDTH: 100%">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">40</font>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">SUPPLEMENTARY INFORMATION <font style="font-weight: normal;">(unaudited)</font>
  </font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">Non-IFRS disclosures</font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;"><B><I>Core results</I></B></font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The Group&#x2019;s core results &#x2013; including core operating income, core net income and core earnings per share &#x2013; exclude fully the amortization and impairment charges of intangible assets, excluding software, net gains and losses on fund investments and equity securities valued at fair value through profit and loss, and certain acquisition related items. The following items that exceed a threshold of USD 25 million are also excluded: integration and divestment related income and expenses, divestment gains and losses, restructuring charges/releases and related items, legal related items, impairments of property, plant and equipment and financial assets, as well as income and expense items that management deems exceptional and that are or are expected to accumulate within the year to be over a USD 25 million threshold.</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">Novartis believes that investor understanding of the Group&#x2019;s performance is enhanced by disclosing core measures of performance because, since they exclude items which can vary significantly from year to year, the core measures enable better comparison of business performance across years. For this same reason, Novartis uses these core measures in addition to IFRS and other measures as important factors in assessing the Group&#x2019;s performance. </font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">The following are examples of how these core measures are utilized:</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; padding-left:3.75; color:#000000;">&#x2022; In addition to monthly reports containing financial information prepared under International Financial Reporting Standards (IFRS), senior management receives a monthly analysis incorporating these core measures.</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; padding-left:3.75; color:#000000;">&#x2022; Annual budgets are prepared for both IFRS and core measures.</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">Despite the use of these measures by management in setting goals and measuring the Group&#x2019;s performance, these are non-IFRS measures that have no standardized meaning prescribed by IFRS. As a result, such measures have limits in usefulness to investors.</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">Because of their non-standardized definitions, the core measures (unlike IFRS measures) may not be comparable to the calculation of similar measures of other companies. These core measures are presented solely to permit investors to more fully understand how the Group&#x2019;s management assesses underlying performance. These core measures are not, and should not be viewed as, a substitute for IFRS measures.</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">As an internal measure of Group performance, these core measures have limitations, and the Group&#x2019;s performance management process is not solely restricted to these metrics. A limitation of the core measures is that they provide a view of the Group&#x2019;s operations without including all events during a period, such as the effects of an acquisition, divestment, or amortization/impairments of purchased intangible assets and restructurings. </font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;"><B><I>Constant currencies</I></B></font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">Changes in the relative values of non-US currencies to the US dollar can affect the Group&#x2019;s financial results and financial position. To provide additional information that may be useful to investors, including changes in sales volume, we present information about our net sales and various values relating to operating and net income that are adjusted for such foreign currency effects. </font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">Constant currency calculations have the goal of eliminating two exchange rate effects so that an estimate can be made of underlying changes in the consolidated income statement excluding the impact of fluctuations in exchanges rates:</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; padding-left:3.75; color:#000000;">&#x2022; the impact of translating the income statements of consolidated entities from their non-USD functional currencies to USD; and</font><br><br></div>
<div style="TEXT-ALIGN: center; WIDTH: 100%">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">41</font>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; padding-left:3.75; color:#000000;">&#x2022; the impact of exchange rate movements on the major transactions of consolidated entities performed in currencies other than their functional currency.</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">We calculate constant currency measures by translating the current year&#x2019;s foreign currency values for sales and other income statement items into USD using the average exchange rates from the prior year and comparing them to the prior year values in USD.</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">We use these constant currency measures in evaluating the Group&#x2019;s performance, since they may assist us in evaluating our ongoing performance from year to year. However, in performing our evaluation, we also consider equivalent measures of performance which are not affected by changes in the relative value of currencies.</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;"><B><I>Growth rate calculation</I></B></font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">For ease of understanding, Novartis uses a sign convention for its growth rates such that a reduction in operating expenses or losses compared to the prior year is shown as a positive growth.</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;"><B><I>Net debt and free cash flow</I></B></font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">Net debt and free cash flow are non-IFRS financial measures, which means they should not be interpreted as measures determined under IFRS. Net debt is presented as additional information because management believes it is a useful supplemental indicator of the Group&#x2019;s ability to pay dividends, to meet financial commitments and to invest in new strategic opportunities, including strengthening its balance sheet. Free cash flow is presented as additional information because management believes it is a useful supplemental indicator of the Group&#x2019;s ability to operate without reliance on additional borrowing or use of existing cash. Free cash flow is a measure of the net cash generated that is available for debt repayment, investment in strategic opportunities and for returning to shareholders. Cash flows in connection with the acquisition or divestment of subsidiaries, associated companies and non-controlling interests in subsidiaries are not taken into account to determine free cash flow. Free cash flow is not intended to be a substitute measure for net cash flows from operating activities as determined under IFRS.</font><br><br></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">42</font>
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  <font style="font-family:Times New Roman,sans-serif; font-size:13pt; color:#000000; font-weight:bold;">CORE RESULTS &#x2013; Reconciliation from IFRS results to core results &#x2013; Group &#x2013; First quarter</font><br><br></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
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      <font style="font-family:Times New Roman,sans-serif; font-size:10pt;color:#00ff00;"></font>
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    <td></td>
    <td colspan="3" align="center" height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Innovative Medicines</font>
    </td>
    <td></td>
    <td colspan="3" align="center" height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Sandoz</font>
    </td>
    <td></td>
    <td colspan="3" align="center" height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Corporate</font>
    </td>
    <td></td>
    <td colspan="3" align="center" height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Group</font>
    </td>
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      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">(USD millions unless indicated otherwise)</font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Q1 2019<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Q1 2018<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Q1 2019<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Q1 2018<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Q1 2019<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Q1 2018<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Q1 2019<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Q1 2018<sup> </sup></font>
    </td>
    <td></td>
    <tr>
      <td colspan="18" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td width="20%" height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>IFRS operating income from continuing operations<sup></sup></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="5%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;109</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="5%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;135</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="5%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>273</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="5%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>409</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="5%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-140</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="5%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-173</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="5%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;242</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="5%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;371</b></font>
    </td>
    <td align="right" width="1%"></td>
    <tr>
      <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Amortization of intangible assets<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>457</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>516</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>79</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>97</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>536</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>613</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Impairments<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">Intangible assets<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">446</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">10</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">14</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">456</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">15</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">Property, plant and equipment related to the Group-wide  rationalization of manufacturing sites<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 4</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 3</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 7</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 2</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">Other property, plant and equipment<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total impairment charges<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>451</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>4</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>13</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>15</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>464</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>19</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Acquisition or divestment of businesses and related items<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">- Income<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-8</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-2</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-8</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">- Expense<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">16</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">23</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">13</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">18</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">36</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total acquisition or divestment of businesses and related items, net<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>15</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>23</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>5</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>16</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>28</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other items<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">Divestment gains<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-26</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-76</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-78</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-3</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-31</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-29</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-185</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">Financial assets - fair value adjustments<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">14</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-83</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-2</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">18</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">12</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-65</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">Restructuring and related items<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">- Income<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-8</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-3</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-9</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-3</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">- Expense<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">77</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">48</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">52</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">26</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">13</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">17</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">142</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">91</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">Legal-related items<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">- Income<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">- Expense<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">6</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">10</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">45</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">30</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">51</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">40</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">Additional income<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-196</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-22</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-198</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-21</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">Additional expense<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">23</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">79</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">4</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">13</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">27</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">92</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total other items<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-110</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-47</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>96</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-22</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>10</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>18</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-4</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-51</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total adjustments<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>813</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>496</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>188</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>90</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>11</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>23</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;012</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>609</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Core operating income from continuing operations<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;922</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;631</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>461</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>499</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-129</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-150</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>3&nbsp;254</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;980</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>as % of net sales<sup></sup></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>33.3%</i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>31.3%</i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>19.8%</i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>19.8%</i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i></i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>29.3%</i></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>27.3%</i></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Income from associated companies<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">80</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">152</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">80</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">152</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Core adjustments to income from associated companies, net of tax<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">198</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">223</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">198</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">223</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Interest expense<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-226</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-218</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other financial income and expense<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">44</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">35</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Taxes, adjusted for above items (core taxes)<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-539</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-488</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Core net income from continuing operations<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;811</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;684</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Core net income from discontinued operations<sup>1</sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>278</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>298</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Core net income<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>3&nbsp;089</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;982</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Core net income attributable to shareholders of Novartis AG<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>3&nbsp;088</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;979</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Core basic EPS from continuing operations (USD)<sup>2</sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1.21</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1.15</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Core basic EPS from discontinued operations (USD)<sup>2</sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">0.12</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">0.13</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Core basic EPS (USD)<sup>2</sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1.33</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1.28</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="18" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td height="10px" colspan="18">
      <font style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;"></font>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="18">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>1&nbsp;</sup>For details on discontinued operations reconciliaton from IFRS to core net income, please refer to page 48.</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="18">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>2&nbsp;</sup>Earnings per share (EPS) is calculated on the amount of net income attributable to shareholders of Novartis AG.</div>
    </td>
  </tr>
</table><br><div style="TEXT-ALIGN: center; WIDTH: 100%">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">43</font>
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  <font style="font-family:Times New Roman,sans-serif; font-size:13pt; color:#000000; font-weight:bold;">CORE RESULTS &#x2013;<font style="font-weight: normal;">&nbsp;</font>Reconciliation from IFRS results to core results &#x2013; Group &#x2013; First quarter</font><br><br></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
  <tr valign="bottom">
    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><br>(USD millions unless indicated otherwise)</font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"><br><br>Q1 2019<br>IFRS results<sup>    </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"><br>Amortization <br>of intangible <br>assets<sup>    1</sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"><br><br><br>Impairments<sup>    2</sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Acquisition or <br>divestment of <br>businesses and <br>related items<sup>    3</sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"><br><br><br>Other items<sup>    4</sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"><br><br>Q1 2019<br>Core results<sup>    </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"><br><br>Q1 2018<br>Core results<sup>    </sup></font>
    </td>
    <td></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td width="24%" height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Gross profit from continuing operations<sup></sup></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>8&nbsp;204</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">524</font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">10</font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">34</font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>8&nbsp;772</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>8&nbsp;410</b></font>
    </td>
    <td align="right" width="1%"></td>
    <tr>
      <td colspan="16" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Operating income from continuing operations<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;242</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">536</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">464</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">16</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-4</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>3&nbsp;254</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;980</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Income before taxes from continuing operations<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;140</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">734</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">464</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">16</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-4</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>3&nbsp;350</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>3&nbsp;172</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Taxes from continuing operations<sup>5</sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-272</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-539</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-488</font>
    </td>
    <td align="right"></td>
    <tr>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Net income from continuing operations<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;868</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;811</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;684</b></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Net loss/income from discontinued operations<sup>6</sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-101</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">278</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">298</font>
    </td>
    <td align="right"></td>
    <tr>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Net income<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;767</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>3&nbsp;089</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;982</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Basic EPS from continuing operations (USD)<sup>7</sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>0.81</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1.21</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1.15</b></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Basic EPS from discontined operations (USD)<sup>7</sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-0.04</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">0.12</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">0.13</font>
    </td>
    <td align="right"></td>
    <tr>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="32">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Basic EPS (USD)<sup>7</sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>0.77</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1.33</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1.28</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td bgcolor="#ffffff" height="16px" colspan="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;"></font>
    </td>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="32">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>The following are adjustments to arrive at core gross profit<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other revenues<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">296</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-42</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">254</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">235</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Cost of goods sold<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-3&nbsp;251</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">524</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">10</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">76</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-2&nbsp;641</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-2&nbsp;753</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td bgcolor="#ffffff" height="16px" colspan="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;"></font>
    </td>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="32">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>The following are adjustments to arrive at core operating income<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Selling, general and administration<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-3&nbsp;330</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">7</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">3</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-3&nbsp;320</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-3&nbsp;278</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Research and development<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-2&nbsp;299</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">12</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">446</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">9</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-132</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1&nbsp;964</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1&nbsp;989</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other income<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">203</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-2</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-81</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">120</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">89</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other expense<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-536</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">8</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">172</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-354</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-252</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td bgcolor="#ffffff" height="16px" colspan="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;"></font>
    </td>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="32">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>The following are adjustments to arrive at core income before taxes<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Income from associated companies<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">80</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">198</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">278</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">375</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td height="10px" colspan="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;"></font>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>1&nbsp;</sup>Amortization of intangible assets: cost of goods sold includes amortization of acquired rights to in-market products, and other production-related intangible assets; research and development includes the amortization of acquired rights for technology platforms; income from associated companies includes USD 198 million for the Novartis share of the estimated Roche core items</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>2&nbsp;</sup>Impairments: cost of goods sold and research and development include impairment charges related to intangible assets; other expense includes impairment charges related to property, plant and equipment</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>3&nbsp;</sup>Acquisition or divestment of businesses and related items, including restructuring and integration charges: selling, general and administration, research and development and other income include net charges related to acquisitions; other income and other expense include transitional service fee income and expenses, and other items related to the portfolio transformation</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>4&nbsp;</sup>Other items: other revenues includes a net income from an outlicensing agreement; cost of goods sold, other income and other expense include net restructuring and other charges related to the Group-wide rationalization of manufacturing sites; cost of goods sold, selling, general and administration, research and development, other income and other expense include other restructuring income and charges and related items; research and development includes fair value adjustments of contingent consideration liabilities; other income and other expense include fair value adjustments and divestment gains and losses on financial assets as well as restructuring income and expenses and related items; other income also includes a product divestment gain; other expense includes legal-related items</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>5&nbsp;</sup>Taxes on the adjustments between IFRS and core results take into account, for each individual item included in the adjustment, the tax rate that will finally be applicable to the item based on the jurisdiction where the adjustment will finally have a tax impact. Generally, this results in amortization and impairment of intangible assets and acquisition-related restructuring and integration items having a full tax impact. There is usually a tax impact on other items, although this is not always the case for items arising from legal settlements in certain jurisdictions. Adjustments related to income from associated companies are recorded net of any related tax effect. Due to these factors and the differing effective tax rates in the various jurisdictions, the tax on the total adjustments for continuing operations of USD 1.2 billion to arrive at the core results before tax amounts to USD 267 million. The average tax rate on the adjustments is 22.1%, since the estimated full year core tax charge of 16.1% has been applied to the pre-tax income of the period.</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>6&nbsp;</sup>For details on discontinued operations reconciliation from IFRS to core net income please refer to page 48.</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>7&nbsp;</sup>Earnings per share (EPS) is calculated on the amount of net income attributable to shareholders of Novartis AG.</div>
    </td>
  </tr>
</table><br><div style="TEXT-ALIGN: center; WIDTH: 100%">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">44</font>
</div>
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<div style="WIDTH: 100%; TEXT-ALIGN: center; ">&#xA0;</div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:13pt; color:#000000; font-weight:bold;">CORE RESULTS &#x2013; Reconciliation from IFRS results to core results &#x2013; Innovative Medicines &#x2013; First quarter </font><br><br></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
  <tr valign="bottom">
    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><br>(USD millions)</font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"><br><br>Q1 2019<br>IFRS results<sup>    </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"><br>Amortization<br>of intangible<br>assets<sup>    1</sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"><br><br><br>Impairments<sup>    2</sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Acquisition or<br>divestment of<br>businesses<br>and related items<sup>    3</sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"><br><br><br>Other items<sup>    4</sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"><br><br>Q1 2019<br>Core results<sup>    </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"><br><br>Q1 2018<br>Core results<sup>    </sup></font>
    </td>
    <td></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td width="24%" height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Gross profit<sup></sup></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>7&nbsp;066</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>445</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-2</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>7&nbsp;509</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>7&nbsp;078</b></font>
    </td>
    <td align="right" width="1%"></td>
    <tr>
      <td colspan="16" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Operating income<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;109</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>457</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>451</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>15</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-110</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;922</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;631</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td bgcolor="#ffffff" height="16px" colspan="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;"></font>
    </td>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="32">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>The following are adjustments to arrive at core gross profit<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other revenues<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">261</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-42</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">219</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">223</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Cost of goods sold<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-2&nbsp;224</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">445</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">40</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1&nbsp;739</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1&nbsp;711</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td bgcolor="#ffffff" height="16px" colspan="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;"></font>
    </td>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="32">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>The following are adjustments to arrive at core operating income<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Selling, general and administration<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-2&nbsp;653</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">7</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-2&nbsp;646</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-2&nbsp;549</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Research and development<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-2&nbsp;105</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">12</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">446</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">9</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-132</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1&nbsp;770</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1&nbsp;790</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other income<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">75</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-38</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">36</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">45</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other expense<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-274</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">5</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">62</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-207</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-153</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td height="10px" colspan="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;"></font>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>1&nbsp;</sup>Amortization of intangible assets: cost of goods sold includes amortization of acquired rights to in-market products and other production-related intangible assets; research and development includes the amortization of acquired rights for technology platforms</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>2&nbsp;</sup>Impairments:research and development includes impairment charges related to intangible assets; other expense includes impairment charges related to property, plant and equipment</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>3&nbsp;</sup>Acquisition or divestment of businesses and related items, including restructuring and integration charges: selling, general and administration, research and development and other income include net charges related to acquisitions</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>4&nbsp;</sup>Other items: other revenues includes a net income from an outlicensing agreement; cost of goods sold, other income and other expense include restructuring and other charges related to the Group-wide rationalization of manufacturing sites; cost of goods sold, research and development, other income and other expense include other restructuring income and charges and related items; research and development also includes fair value adjustments of contingent consideration liabilities; other income and other expense include fair value adjustments on financial assets; other income also includes a product divestment gain; other expense also includes legal-related items</div>
    </td>
  </tr>
</table><br><div style="TEXT-ALIGN: center; WIDTH: 100%">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">45</font>
</div>
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<div style="WIDTH: 100%; TEXT-ALIGN: center; ">&#xA0;</div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"></div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:13pt; color:#000000; font-weight:bold;">CORE RESULTS &#x2013; Reconciliation from IFRS results to core results &#x2013; Sandoz &#x2013; First quarter </font><br><br></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
  <tr valign="bottom">
    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><br>(USD millions)</font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"><br><br>Q1 2019<br>IFRS results<sup>    </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"><br>Amortization<br>of intangible<br>assets<sup>    1</sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"><br><br><br>Impairments<sup>    2</sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Acquisition or <br>divestment of <br>businesses<br>and related items<sup>    </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"><br><br>Other <br>items<sup>    3</sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"><br><br>Q1 2019<br>Core results<sup>    </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"><br><br>Q1 2018<br>Core results<sup>    </sup></font>
    </td>
    <td></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td width="24%" height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Gross profit<sup></sup></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;117</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>79</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>10</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>36</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;242</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;316</b></font>
    </td>
    <td align="right" width="1%"></td>
    <tr>
      <td colspan="16" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Operating income<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>273</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>79</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>13</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>96</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>461</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>499</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td bgcolor="#ffffff" height="16px" colspan="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;"></font>
    </td>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="32">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>The following are adjustments to arrive at core gross profit<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Cost of goods sold<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1&nbsp;276</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">79</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">10</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">36</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1&nbsp;151</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1&nbsp;262</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td bgcolor="#cceeff" height="16px" colspan="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;"></font>
    </td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="32">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>The following are adjustments to arrive at core operating income<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Selling, general and administration<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-562</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">3</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-559</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-602</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other expense<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-125</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">3</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">57</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-65</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-51</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td height="10px" colspan="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;"></font>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>1&nbsp;</sup>Amortization of intangible assets: cost of goods sold includes amortization of acquired rights to in-market products and other production-related intangible assets</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>2&nbsp;</sup>Impairments: cost of goods sold includes impairment charges related to intangible assets; other expense includes impairment charges related to property, plant and equipment</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>3&nbsp;</sup>Other items: cost of goods sold and other expense include net restructuring and other charges related to the Group-wide rationalization of manufacturing sites; cost of goods sold, selling, general and administration and other expense include other restructuring income and charges and related items; other expense also includes legal-related items</div>
    </td>
  </tr>
</table><br><div style="TEXT-ALIGN: center; WIDTH: 100%">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">46</font>
</div>
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<div style="WIDTH: 100%; TEXT-ALIGN: center; ">&#xA0;</div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:13pt; color:#000000; font-weight:bold;">CORE RESULTS &#x2013;<font style="font-weight: normal;">&nbsp;</font>Reconciliation from IFRS results to core results &#x2013; Corporate continuing&#x2013; First quarter </font><br><br></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
  <tr valign="bottom">
    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><br>(USD millions)</font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"><br><br>Q1 2019<br>IFRS results<sup>    </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"><br><br>Amortization of <br>intangible assets<sup>    </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"><br><br><br>Impairments<sup>    </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Acquisition or <br>divestment of <br>businesses<br>and related items<sup>    1</sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"><br><br>Other <br>items<sup>    2</sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"><br><br>Q1 2019<br>Core results<sup>    </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"><br><br>Q1 2018<br>Core results<sup>    </sup></font>
    </td>
    <td></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td width="24%" height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Gross profit<sup></sup></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>21</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>21</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>16</b></font>
    </td>
    <td align="right" width="1%"></td>
    <tr>
      <td colspan="16" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Operating income<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-140</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>10</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-129</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-150</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td bgcolor="#ffffff" height="16px" colspan="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;"></font>
    </td>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="32">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>The following are adjustments to arrive at core operating income<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other income<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">91</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-43</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">47</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">9</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other expense<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-137</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">53</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-82</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-48</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td height="10px" colspan="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;"></font>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>1&nbsp;</sup>Acquisition or divestment of businesses and related items, including restructuring and integration charges: other income and other expense include transitional service fee income and expenses, and other items related to the portfolio transformation</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>2&nbsp;</sup>Other items: other income and other expense include fair value adjustments and divestment gains and losses on financial assets, as well as restructuring income and charges and related items</div>
    </td>
  </tr>
</table><br><div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"></div>
<div style="TEXT-ALIGN: center; WIDTH: 100%">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">47</font>
</div>
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  <font style="font-family:Times New Roman,sans-serif; font-size:13pt; color:#000000; font-weight:bold;">CORE RESULTS &#x2013; Reconciliation from IFRS results to core results &#x2013; Discontinued operations &#x2013; First quarter </font><br><br></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
  <tr valign="bottom">
    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><br>(USD millions)</font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"><br><br>Q1 2019<br>IFRS results<sup>    </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"><br><br>Amortization of <br>intangible assets<sup>    1</sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"><br><br><br>Impairments<sup>    </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Acquisition or <br>divestment of <br>businesses<br>and related items<sup>    </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"><br><br>Other <br>items<sup>    2</sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"><br><br>Q1 2019<br>Core results<sup>    </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"><br><br>Q1 2018<br>Core results<sup>    </sup></font>
    </td>
    <td></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td width="24%" height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Gross profit<sup></sup></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>949</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>165</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>9</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;123</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="6%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;115</b></font>
    </td>
    <td align="right" width="1%"></td>
    <tr>
      <td colspan="16" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Operating income<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>71</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>167</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>112</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>350</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>360</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td bgcolor="#ffffff" height="16px" colspan="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;"></font>
    </td>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="32">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>The following are adjustments to arrive at core gross profit<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Cost of goods sold<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-860</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">165</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">9</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-686</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-667</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td bgcolor="#cceeff" height="16px" colspan="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;"></font>
    </td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="32">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>The following are adjustments to arrive at core operating income<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Selling, general and administration<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-638</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">14</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-624</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-639</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Research and development<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-142</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">4</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-136</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-122</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other income<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">15</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-3</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">12</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">9</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Other expense<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-113</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">88</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-25</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-3</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="16" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Income before taxes<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>58</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>337</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>353</b></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Taxes<sup>3</sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-159</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-59</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-55</font>
    </td>
    <td align="right"></td>
    <tr>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Net loss/income<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-101</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>278</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>298</b></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Basic EPS (USD)<sup>4</sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-0.04</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>0.12</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>0.13</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #ffffff 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
      <td style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td height="10px" colspan="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;"></font>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>1&nbsp;</sup>Amortization of intangible assets: cost of goods sold includes amortization of acquired rights to in-market products and other production-related intangible assets; research and development includes the amortization of acquired rights for technology platforms</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>2&nbsp;</sup>Other items: cost of goods sold, selling, general and administration, research and development and other expense also include other restructuring charges and related items; research and development also includes amortization of option rights and the fair value adjustment of a contingent consideration liability; other income includes fair value adjustments on a financial asset; other expense includes legal-related items</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>3&nbsp;</sup>Taxes on the adjustments between IFRS and core results take into account, for each individual item included in the adjustment, the tax rate that will finally be applicable to the item based on the jurisdiction where the adjustment will finally have a tax impact. Generally, this results in amortization and impairment of intangible assets and acquisition-related restructuring and integration items having a full tax impact. There is usually a tax impact on other items, although this is not always the case for items arising from legal settlements in certain jurisdictions. Due to these factors and the differing effective tax rates in the various jurisdictions, the tax on the total adjustments of USD 279 million to arrive at the core results before tax amounts to USD 100 million. The average tax rate on the adjustments is 35.8%. The Q1 2019 core tax rate is 17.5%.</div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>4&nbsp;</sup>Earnings per share (EPS) is calculated on the amount of net income attributable to shareholders of Novartis AG.</div>
    </td>
  </tr>
</table><br><div style="TEXT-ALIGN: center; WIDTH: 100%">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">48</font>
</div>
<div style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt;">
  <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; PAGE-BREAK-AFTER: always; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade>
</div>
<div style="WIDTH: 100%; TEXT-ALIGN: center; ">&#xA0;</div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:13pt; color:#000000; font-weight:bold;">Income from associated companies</font><br><br></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
  <tr valign="bottom">
    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">(USD millions)</font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Q1 2019<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Q1 2018<sup> </sup></font>
    </td>
    <td></td>
    <tr>
      <td colspan="6" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td width="56%" height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;"><i>Share of estimated Roche reported results<sup></sup></i></div>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="14%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>206</i></font>
    </td>
    <td align="right" width="2%">
      <font style="font-family:Times New Roman,sans-serif; font-size:10pt;color:#00ff00;"></font>
    </td>
    <td align="right" width="14%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>188</i></font>
    </td>
    <td align="right" width="1%">
      <font style="font-family:Times New Roman,sans-serif; font-size:10pt;color:#00ff00;"></font>
    </td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;"><i>Prior-year adjustment<sup></sup></i></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>-129</i></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif; font-size:10pt;color:#00ff00;"></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>-125</i></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif; font-size:10pt;color:#00ff00;"></font>
    </td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Amortization of additional intangible assets recognized  by Novartis on initial accounting for the equity interest<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i> -40</i></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif; font-size:10pt;color:#00ff00;"> </font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i> -38</i></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif; font-size:10pt;color:#00ff00;"> </font>
    </td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;"><i>Partial release of deferred tax liability recognized<sup></sup></i></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>43</i></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif; font-size:10pt;color:#00ff00;"></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i></i></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif; font-size:10pt;color:#00ff00;"></font>
    </td>
    <tr>
      <td colspan="6" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Net income effect from Roche Holding AG<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">80</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">25</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;"><i>Share of estimated GSK Consumer Healthcare  Holdings Ltd. reported results<sup></sup></i></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i> </i></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif; font-size:10pt;color:#00ff00;"> </font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i> 127</i></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif; font-size:10pt;color:#00ff00;"> </font>
    </td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;"><i>Prior-year adjustment<sup></sup></i></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i></i></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif; font-size:10pt;color:#00ff00;"></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i>4</i></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif; font-size:10pt;color:#00ff00;"></font>
    </td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;"><i>Amortization of additional intangible assets recognized  by Novartis on initial accounting for the equity interest<sup></sup></i></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i> </i></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif; font-size:10pt;color:#00ff00;"> </font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><i> -3</i></font>
    </td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif; font-size:10pt;color:#00ff00;"> </font>
    </td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Net income effect from GlaxoSmithKline Consumer  Healthcare Holdings Ltd.<sup> 1</sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 128</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Others<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-1</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Income from associated companies<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>80</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>152</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td colspan="6">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>&nbsp;</sup></div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="6">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>1&nbsp;</sup>On March 27, 2018, Novartis entered into the agreement to divest its 36.5% investment in GSK Consumer Healthcare Holdings Ltd. to GSK. As a result, equity accounting was discontinued starting from April 1, 2018. The transaction closed on June 1, 2018, see Note 3.</div>
    </td>
  </tr>
</table><br><div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:13pt; color:#000000; font-weight:bold;">Core income from associated companies</font><br><br></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
  <tr valign="bottom">
    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">(USD millions)</font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Q1 2019<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Q1 2018<sup> </sup></font>
    </td>
    <td></td>
    <tr>
      <td colspan="6" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td width="56%" height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Income from associated companies<sup></sup></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="14%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>80</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="14%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>152</b></font>
    </td>
    <td align="right" width="1%"></td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Share of estimated Roche core adjustments<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">37</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">79</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Roche prior year adjustment<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">161</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">133</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Share of estimated GSK Consumer  Healthcare Holdings Ltd. core adjustments<sup> 1</sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 10</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">GSK Consumer Healthcare Holdings Ltd.  prior year adjustment<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> </font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 1</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Core income from associated companies<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>278</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>375</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td colspan="6">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>&nbsp;</sup></div>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="6">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>1&nbsp;</sup>On March 27, 2018, Novartis entered into the agreement to divest its 36.5% investment in GSK Consumer Healthcare Holdings Ltd. to GSK. As a result, equity accounting was discontinued starting from April 1, 2018. The transaction closed on June 1, 2018, see Note 3.</div>
    </td>
  </tr>
</table><br><div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;"></font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"></div>
<div style="TEXT-ALIGN: center; WIDTH: 100%">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">49</font>
</div>
<div style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt;">
  <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; PAGE-BREAK-AFTER: always; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade>
</div>
<div style="WIDTH: 100%; TEXT-ALIGN: center; ">&#xA0;</div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:13pt; color:#000000; font-weight:bold;">Condensed consolidated changes in net debt<font style="font-weight: normal;">&nbsp;</font>
  </font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">First quarter</font><br><br></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
  <tr valign="bottom">
    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">(USD millions)</font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Q1 2019<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Q1 2018</font>
    </td>
    <td></td>
    <tr>
      <td colspan="6" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td width="56%" height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Change in cash and cash equivalents<sup></sup></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="14%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-6&nbsp;464</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="14%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-3&nbsp;047</b></font>
    </td>
    <td align="right" width="1%"></td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Change in marketable securities, commodities,  financial debts and financial derivatives<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;107</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -5&nbsp;594</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Increase in net debt<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-5&nbsp;357</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-8&nbsp;641</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Net debt at January 1<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-16&nbsp;184</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-19&nbsp;047</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Net debt at March 31<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-21&nbsp;541</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-27&nbsp;688</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
</table><br><div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">Components of net debt</font><br><br></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
  <tr valign="bottom">
    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><br>(USD millions)</font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Mar 31, <br>2019<sup>  </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Mar 31, <br>2018</font>
    </td>
    <td></td>
    <tr>
      <td colspan="6" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td width="56%" height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Non-current financial debts<sup></sup></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="14%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-21&nbsp;225</font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="14%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-23&nbsp;199</font>
    </td>
    <td align="right" width="1%"></td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Current financial debts and derivative  financial instruments<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -7&nbsp;428</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -10&nbsp;911</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total financial debt<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-28&nbsp;653</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-34&nbsp;110</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Less liquidity:<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b></b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">Cash and cash equivalents<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">6&nbsp;807</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">5&nbsp;813</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">Marketable securities, commodities, time deposits  and derivative financial instruments<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 305</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> 609</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total liquidity<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>7&nbsp;112</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>6&nbsp;422</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Net debt at March 31<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-21&nbsp;541</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-27&nbsp;688</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
</table><br><div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">Share information </font><br><br></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
  <tr valign="bottom">
    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Mar 31, <br>2019<sup>  </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Mar 31, <br>2018<sup>  </sup></font>
    </td>
    <td></td>
    <tr>
      <td colspan="6" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td width="56%" height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Number of shares outstanding<sup></sup></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="14%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;322&nbsp;827&nbsp;946</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="14%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">2&nbsp;330&nbsp;803&nbsp;377</font>
    </td>
    <td align="right" width="1%"></td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Registered share price (CHF)<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>95.78</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">77.26</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">ADR price (USD)<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>96.14</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">80.85</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Market capitalization (USD billions)<sup>1</sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>223.4</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">188.2</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Market capitalization (CHF billions)<sup>1</sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>222.5</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">180.1</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="6" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom">
    <td height="10px" colspan="6">
      <font style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;"></font>
    </td>
  </tr>
  <tr valign="bottom">
    <td colspan="6">
      <div style="font-family:Times New Roman,sans-serif;font-size:8pt; color:#000000;margin-left:5pt; text-indent:-5pt;"><sup>1&nbsp;</sup>Market capitalization is calculated based on the number of shares outstanding (excluding treasury shares). Market capitalization in USD is based on the market capitalization in CHF converted at the quarter end CHF/USD exchange rate.</div>
    </td>
  </tr>
</table><br><div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"></div>
<div style="TEXT-ALIGN: center; WIDTH: 100%">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">50</font>
</div>
<div style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt;">
  <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; PAGE-BREAK-AFTER: always; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade>
</div>
<div style="WIDTH: 100%; TEXT-ALIGN: center; ">&#xA0;</div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:13pt; color:#000000; font-weight:bold;">Free cash flow </font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">First quarter</font><br><br></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
  <tr valign="bottom">
    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">(USD millions)</font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Q1 2019<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Q1 2018<sup> </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Change<sup> </sup></font>
    </td>
    <td></td>
    <tr>
      <td colspan="8" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td width="44%" height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Operating income from continuing operations<sup></sup></b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="11%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;242</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="11%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>2&nbsp;371</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="11%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-129</b></font>
    </td>
    <td align="right" width="1%"></td>
    <tr>
      <td colspan="8" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Adjustments for non-cash items<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"></font>
    </td>
    <td align="right"></td>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">Depreciation, amortization and impairments<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1&nbsp;453</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">930</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">523</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">Change in provisions and other non-current liabilities<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">60</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">138</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-78</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <div style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;margin-left:12pt;">Other<sup></sup></div>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">129</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-4</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">133</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Operating income adjusted for non-cash items<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>3&nbsp;884</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>3&nbsp;435</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>449</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Dividends received from associated companies and others<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">460</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">464</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-4</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Interest received<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">85</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">50</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">35</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Interest and other financial payments<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-211</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-207</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-4</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Taxes paid<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-400</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-389</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-11</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Payments out of provisions and other  net cash movements in non-current liabilities<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -193</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -143</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -50</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Change in inventory and trade  receivables less trade payables<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -697</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -652</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -45</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Change in other net current assets and  other operating cash flow items<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -594</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -177</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"> -417</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Net cash flows from operating activities from  continuing operations<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> 2&nbsp;334</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> 2&nbsp;381</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b> -47</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Purchase of property, plant and equipment<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-282</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-258</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-24</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Proceeds from sales of property, plant and equipment<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">164</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">45</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">119</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Purchase of intangible assets<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-337</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-416</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">79</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Proceeds from sales of intangible assets<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">71</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">194</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-123</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Purchase of financial assets<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-109</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-32</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-77</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Proceeds from sales of financial assets<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">35</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">9</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">26</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Purchase of other non-current assets<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-10</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-4</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-6</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Proceeds from sales of other non-current assets<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">3</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">0</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">3</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Free cash flow from continuing operations<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;869</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;919</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-50</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Free cash flow from discontinued operations<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-62</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-4</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">-58</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>Total free cash flow<sup></sup></b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;807</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1&nbsp;915</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>-108</b></font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
    </tr>
  </tr>
</table><br><div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"></div>
<div style="TEXT-ALIGN: center; WIDTH: 100%">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">51</font>
</div>
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</div>
<div style="WIDTH: 100%; TEXT-ALIGN: center; ">&#xA0;</div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:13pt; color:#000000; font-weight:bold;">Principal currency translation rates</font><br><br></div>
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
  <font style="font-family:Times New Roman,sans-serif; font-size:11pt; color:#000000; font-weight:bold;">First quarter</font><br><br></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
  <tr valign="bottom">
    <td height="12">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><br>(USD per unit)</font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"><br>Average <br>rates<br>Q1 2019<sup>    </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;"><br>Average <br>rates<br>Q1 2018<sup>    </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Period-end <br>rates<br>Mar 31, <br>2019<sup>    </sup></font>
    </td>
    <td></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">Period-end <br>rates<br>Mar 31, <br>2018<sup>    </sup></font>
    </td>
    <td></td>
    <tr>
      <td colspan="10" style="border-bottom: solid #000000 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td width="36%" height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1 CHF<sup></sup></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="9%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1.003</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="9%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1.055</font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="9%">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1.004</b></font>
    </td>
    <td align="right" width="2%"></td>
    <td align="right" width="9%">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1.045</font>
    </td>
    <td align="right" width="1%"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1 CNY<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>0.148</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">0.157</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>0.149</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">0.159</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1 EUR<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1.136</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1.229</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1.123</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1.231</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1 GBP<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1.302</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1.392</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1.303</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1.405</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#ffffff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">100 JPY<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>0.908</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">0.924</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>0.903</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">0.938</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
  <tr valign="bottom" bgcolor="#cceeff">
    <td height="16">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">100 RUB<sup></sup></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1.517</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1.758</font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-weight:bold;font-size:10pt; color:#000000;"><b>1.543</b></font>
    </td>
    <td align="right"></td>
    <td align="right">
      <font style="font-family:Times New Roman,sans-serif;font-size:10pt; color:#000000;">1.731</font>
    </td>
    <td align="right"></td>
    <tr>
      <td colspan="10" style="border-bottom: dotted #666666 1px;"></td>
    </tr>
  </tr>
</table><br><div style="TEXT-ALIGN: center; WIDTH: 100%">
  <font style="font-family:Times New Roman,sans-serif; font-size:10pt; color:#000000;">52</font>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">
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<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Disclaimer</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #000000; TEXT-ALIGN: justify; MARGIN-LEFT: 2.85pt; MARGIN-RIGHT: 2.85pt">This press release 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 &#8220;guidance,&#8221; &#8220;transformation,&#8221; &#8220;continued,&#8221; &#8220;potential&#8221;, &#8220;launches,&#8221; &#8220;on track&#8221; &#8220;launched,&#8221; &#8220;filed,&#8221; &#8220;launch,&#8221; &#8220;expected,&#8221; &#8220;to grow,&#8221; &#8220;will,&#8221; &#8220;enter,&#8221; &#8220;pipeline,&#8221; &#8220;commitment,&#8221; &#8220;well positioned,&#8221; &#8220;future,&#8221; &#8220;strategy,&#8221; &#8220;priorities,&#8221; &#8220;embrace,&#8221; &#8220;deliver,&#8221; &#8220;go big,&#8221; &#8220;build,&#8221; &#8220;allows,&#8221; &#8220;expect,&#8221; &#8220;to be completed,&#8221;&#160; &#8220;closing conditions,&#8221; &#8220;committed,&#8221; &#8220;continued,&#8221; &#8220;growth drivers,&#8221; &#8220;Priority Review Voucher,&#8221; &#8220;submissions,&#8221; &#8220;filings,&#8221; &#8220;to be presented,&#8221; &#8220;potentially,&#8221; &#8220;if approved,&#8221; &#8220;aims,&#8221; &#8220;outlook,&#8221; &#8220;unforeseen,&#8221; &#8220;forecast,&#8221; &#8220;may,&#8221; &#8220;would,&#8221; &#8220;continues,&#8221; &#8220;aiming,&#8221; &#8220;vision,&#8221; &#8220;priority review,&#8221; &#8220;PRIME designation,&#8221; &#8220;Sakigake designation,&#8221; &#8220;enrollment,&#8221; &#8220;planned,&#8221; &#8220;upcoming,&#8221; &#8220;Fast Track designation,&#8221; &#8220;Orphan designation,&#8221; &#8220;scheduled,&#8221; or similar expressions, or by express or implied discussions regarding potential new products, potential new indications for existing products, or regarding potential future revenues from any such products; or regarding the potential outcome, or financial or other impact on Novartis, of the spinoff of our Alcon Division, or of the proposed divestiture of certain portions of our Sandoz Division business in the US; or regarding the potential impact of the share buyback plan; 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.&#160; In particular, our expectations could be affected by, among other things: global trends toward healthcare cost containment, including ongoing government, payer 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 release; the potential that the strategic benefits, synergies or opportunities expected from the Alcon and Sandoz transactions 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 regarding actual or potential legal proceedings, including, among others, actual or potential litigation with respect to the proposed transactions, product liability litigation, litigation and investigations regarding sales and marketing practices, intellectual property disputes and government investigations generally; uncertainties involved in the development or adoption of potentially transformational technologies and business models; 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&#8217;s current Form 20-F on file with the US Securities and Exchange Commission. Novartis is providing the information in this press release 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.</div>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">53</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">About Novartis</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Novartis is reimagining medicine to improve and extend people&#8217;s lives. As a leading global medicines company, we use innovative science and digital technologies to create transformative treatments in areas of great medical need. In our quest to find new medicines, we consistently rank among the world&#8217;s top companies investing in research and development. Novartis products reach more than 750 million people globally and we are finding innovative ways to expand access to our latest treatments. About 105,000 people of more than 140 nationalities work at Novartis around the world. Find out more at <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; COLOR: #0000ff"><u>www.novartis.com</u></font>.</div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Novartis will conduct a conference call with investors to discuss this news release today at 14:00 Central European time and 8:00 Eastern Time. A simultaneous webcast of the call for investors and other interested parties may be accessed by visiting the Novartis website. A replay will be available after the live webcast by visiting.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-VARIANT: normal; FONT-WEIGHT: normal; COLOR: #0000ff; FONT-STYLE: normal; TEXT-ALIGN: justify"><u>https://www.novartis.com/investors/event-calendar</u></div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Detailed financial results accompanying this press release are included in the condensed interim financial report at the link below. Additional information is provided on Novartis divisions and pipeline of selected compounds in late stage development and a copy of today's earnings call presentation can be found at.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-VARIANT: normal; FONT-WEIGHT: normal; COLOR: #0000ff; FONT-STYLE: normal; TEXT-ALIGN: justify"><u>https://www.novartis.com/investors/event-calendar</u></div>

<div><br>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: left">Important dates</div>

<div style="TEXT-ALIGN: justify">
<table id="z80e1cb5ef94c4e1fa9e2cdfe710ce57b" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="WIDTH: 20%">
<div>May 8, 2019</div>
</td>
<td style="WIDTH: 80%">
<div>American Academy of Neurology (AAN) investor conference call</div>
</td>
</tr>

<tr>
<td style="WIDTH: 20%">
<div>May 22-23, 2019</div>
</td>
<td style="WIDTH: 80%">
<div>Meet Novartis Management investor event in Boston</div>
</td>
</tr>

<tr>
<td style="WIDTH: 20%">
<div>June 2, 2019</div>
</td>
<td style="WIDTH: 80%">
<div>American Society of Clinical Oncology (ASCO) investor event</div>
</td>
</tr>

<tr>
<td style="WIDTH: 20%">July 18, 2019</td>
<td style="WIDTH: 80%">
<div>Second quarter results 2019</div>
</td>
</tr>

<tr>
<td style="WIDTH: 20%">
<div>October 22, 2019</div>
</td>
<td style="WIDTH: 80%">
<div>Third quarter results 2019</div>
</td>
</tr>
</table>
</div>

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</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: center">54</div>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
