<SEC-DOCUMENT>0001370368-25-000007.txt : 20250131
<SEC-HEADER>0001370368-25-000007.hdr.sgml : 20250131
<ACCEPTANCE-DATETIME>20250131071414
ACCESSION NUMBER:		0001370368-25-000007
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20241231
FILED AS OF DATE:		20250131
DATE AS OF CHANGE:		20250131

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NOVARTIS AG
		CENTRAL INDEX KEY:			0001114448
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		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:		25575911

	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
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<FILENAME>a250131-6k.htm
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  <title>6-K</title>

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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; FONT-SIZE: 18pt; FONT-WEIGHT: bold">UNITED STATES<br> 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:arial,helvetica,sans-serif; 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:arial,helvetica,sans-serif; FONT-SIZE: 12pt; FONT-WEIGHT: bold">THE SECURITIES EXCHANGE ACT OF 1934</font></div>

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    Report on Form 6-K dated
    January 31, 2025</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:arial,helvetica,sans-serif; 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:arial,helvetica,sans-serif; 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:arial,helvetica,sans-serif; 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="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; 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="left"><font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; 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:arial,helvetica,sans-serif; FONT-SIZE: 18pt; FONT-WEIGHT: bold">Exhibits:</font>
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<font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; FONT-SIZE: 11pt; FONT-WEIGHT: normal">

  <a href="a250131-99_1.htm">99.1 Financial Report Q4 2024</a>

<br />

 <a href="a250131-99_2.htm">99.2 Condensed Financial Report</a>
    <br />
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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:arial,helvetica,sans-serif; 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="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; 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:arial,helvetica,sans-serif; 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:arial,helvetica,sans-serif; FONT-SIZE: 10pt">Date:
January 31, 2025</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:arial,helvetica,sans-serif; 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:arial,helvetica,sans-serif; FONT-SIZE: 10pt">/s/ 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:arial,helvetica,sans-serif; 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:arial,helvetica,sans-serif; 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:arial,helvetica,sans-serif; FONT-SIZE: 10pt">Head Financial Reporting and Accounting</font></div>
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<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>a250131-99_1.htm
<DESCRIPTION>99.1 FINANCIAL REPORT Q4 2024
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                      <div style="font-weight: bold; font-size: 11pt;">Ad hoc announcement pursuant to Art. 53 LR</div>
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                          Novartis&#160;Global Communications</font><br>
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                      <div style="text-align: left; margin-bottom: 2pt; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"> CH-4002 Basel <br>
                        <div>Switzerland</div>
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                        <font style="color: #000000;">https://www.novartis.com</font></div>
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                        <div style="line-height: 9.85pt; color: #000000; font-family: Arial;">https://x.com/novartisnews</div>
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                <div style="line-height: 12pt;"><font style="font-family: Arial; font-size: 12pt; font-weight: bold; color: #002068;">FINANCIAL RESULTS | FINANZERGEBNISSE<br>
                  </font><br style="line-height: 12pt;">
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                <div style="line-height: 18.25pt; color: #0460A9; font-family: Arial; font-size: 16pt; font-weight: bold;">Novartis continues strong momentum of sales growth with margin expansion, reaches key innovation milestones in 2024</div>
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                <div style="line-height: 11.4pt; padding: 0px 0px 3px; font-family: Arial; font-size: 11pt; font-weight: bold;"><u>Full year</u></div>
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                        </td>
                        <td style="width: auto; vertical-align: top;">
                          <div style="line-height: 11.4pt; padding: 0px 0px 5px; font-size: 11pt;"><font style="font-weight: bold;">Net sales grew +12% (cc</font><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup><font style="font-weight: bold;">, +11% USD) with core
                              operating income</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup><font style="font-weight: bold;"> up +22% (cc, +19% USD)</font></div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div>
                  <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za951aa24e7b34a259e9f05de33cc2e4c">

                      <tr>
                        <td style="width: 28.8pt; vertical-align: top; text-align: right;">
                          <div style="margin: 0px 0px 0px 14.4pt; line-height: 11.4pt; padding: 0px 0px 5px; font-size: 11pt; text-align: left;">o</div>
                        </td>
                        <td style="width: auto; vertical-align: top;">
                          <div style="line-height: 11.4pt; padding: 0px 0px 5px; font-size: 11pt;">Sales growth driven by continued strong performance from <font style="font-style: italic;">Entresto</font> (+31% cc), <font style="font-style: italic;">Cosentyx</font>
                            (+25% cc), <font style="font-style: italic;">Kesimpta</font> (+49% cc), <font style="font-style: italic;">Kisqali</font> (+49% cc), <font style="font-style: italic;">Pluvicto</font> (+42% cc) and <font style="font-style: italic;">Leqvio</font> (+114% cc)</div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div>
                  <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zcfa3bae0a51c48b488774a065e2dca5c">

                      <tr>
                        <td style="width: 28.8pt; vertical-align: top; text-align: right;">
                          <div style="margin: 0px 0px 0px 14.4pt; line-height: 11.4pt; padding: 0px 0px 5px; font-size: 11pt; text-align: left;">o</div>
                        </td>
                        <td style="width: auto; vertical-align: top;">
                          <div style="line-height: 11.4pt; padding: 0px 0px 5px; font-size: 11pt;">Core operating income margin<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup> 38.7%, +330 basis points (cc), mainly driven by higher net sales</div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div>
                  <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze64c552919f74e0e9ea5aefa2cfa05ef">

                      <tr>
                        <td style="width: 14.4pt; vertical-align: top; text-align: right;">
                          <div style="line-height: 11.4pt; padding: 0px 0px 5px; font-size: 11pt; font-weight: bold; text-align: left;">&#8226;</div>
                        </td>
                        <td style="width: auto; vertical-align: top;">
                          <div style="line-height: 11.4pt; padding: 0px 0px 5px; font-size: 11pt;"><font style="font-weight: bold;">Operating income grew +55% (cc, +49% USD); net income up +45% (cc, +39% USD)</font></div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div>
                  <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze97e17d6534a4f9f99417550e8d17702">

                      <tr>
                        <td style="width: 14.4pt; vertical-align: top; text-align: right;">
                          <div style="line-height: 11.4pt; padding: 0px 0px 5px; font-size: 11pt; font-weight: bold; text-align: left;">&#8226;</div>
                        </td>
                        <td style="width: auto; vertical-align: top;">
                          <div style="line-height: 11.4pt; padding: 0px 0px 5px; font-size: 11pt;"><font style="font-weight: bold;">Core EPS</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup><font style="font-weight: bold;"> grew +24% (cc, +21% USD) to USD 7.81</font></div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div>
                  <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z5188c95bdb51449abb3776de8fb2cc0e">

                      <tr>
                        <td style="width: 14.4pt; vertical-align: top; text-align: right;">
                          <div style="line-height: 11.4pt; padding: 0px 0px 5px; font-size: 11pt; font-weight: bold; text-align: left;">&#8226;</div>
                        </td>
                        <td style="width: auto; vertical-align: top;">
                          <div style="line-height: 11.4pt; padding: 0px 0px 5px; font-size: 11pt;"><font style="font-weight: bold;">Free cash flow</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup><font style="font-weight: bold;"> of USD 16.3 billion (+24% USD) </font>driven by <font style="color: #000000;">higher net cash flows from operating activities</font></div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div style="line-height: 4.55pt;"><br style="line-height: 4.55pt;">
                </div>
                <div style="line-height: 4.55pt">&#160;</div>
                <div style="line-height: 11.4pt; padding: 0px 0px 3px; font-family: Arial; font-size: 11pt; font-weight: bold;"><u>Fourth quarter</u></div>
                <div>
                  <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z60ed5f9670f7481786828ecefc3e2394">

                      <tr>
                        <td style="width: 14.4pt; vertical-align: top; text-align: right;">
                          <div style="line-height: 11.4pt; padding: 0px 0px 5px; font-size: 11pt; font-weight: bold; text-align: left;">&#8226;</div>
                        </td>
                        <td style="width: auto; vertical-align: top;">
                          <div style="line-height: 11.4pt; padding: 0px 0px 5px; font-size: 11pt; font-weight: bold;">Net sales grew +16% (cc, +15% USD) with core operating income up +29% (cc, +27% USD)</div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div>
                  <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zcf7c923e664448cc81d776e6ecf0b81b">

                      <tr>
                        <td style="width: 28.8pt; vertical-align: top; text-align: right;">
                          <div style="margin: 0px 0px 0px 14.4pt; line-height: 11.4pt; padding: 0px 0px 5px; font-size: 11pt; text-align: left;">o</div>
                        </td>
                        <td style="width: auto; vertical-align: top;">
                          <div style="line-height: 11.4pt; padding: 0px 0px 5px; font-size: 11pt;">Sales growth driven by continued strong performance from <font style="font-style: italic;">Entresto</font> (+34% cc), <font style="font-style: italic;">Kesimpta</font>
                            (+49% cc), <font style="font-style: italic;">Kisqali</font> (+52% cc), <font style="font-style: italic;">Cosentyx</font> (+24% cc), and <font style="font-style: italic;">Leqvio</font> (+83% cc)</div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div>
                  <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb06dc2d457e54ed6b94a179cb99b1997">

                      <tr>
                        <td style="width: 14.4pt; vertical-align: top; text-align: right;">
                          <div style="line-height: 11.4pt; padding: 0px 0px 5px; font-size: 12pt; font-weight: bold; text-align: left;">&#8226;</div>
                        </td>
                        <td style="width: auto; vertical-align: top;">
                          <div style="line-height: 11.4pt; padding: 0px 0px 5px; font-size: 11pt; font-weight: bold;">Selected innovation milestones:</div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div>
                  <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc1eedd2ee2974f1aac54329dcb94605a">

                      <tr>
                        <td style="width: 28.8pt; vertical-align: top; text-align: right;">
                          <div style="margin: 0px 0px 0px 14.4pt; line-height: 11.4pt; padding: 0px 0px 5px; font-size: 11pt; text-align: left;">o</div>
                        </td>
                        <td style="width: auto; vertical-align: top;">
                          <div style="line-height: 11.4pt; padding: 0px 0px 5px; font-size: 11pt;"><font style="font-weight: bold; font-style: italic;">Scemblix </font>FDA<font style="color: #000000;"> accelerated approval for 1L Ph+ CML-CP</font></div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div>
                  <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4c0abf6ca66d46408ba3c6dc1d6d2c0e">

                      <tr>
                        <td style="width: 28.8pt; vertical-align: top; text-align: right;">
                          <div style="margin: 0px 0px 0px 14.4pt; line-height: 11.4pt; padding: 0px 0px 5px; font-size: 11pt; text-align: left;">o</div>
                        </td>
                        <td style="width: auto; vertical-align: top;">
                          <div style="line-height: 11.4pt; padding: 0px 0px 5px; font-size: 11pt;"><font style="font-weight: bold; font-style: italic;">Kisqali</font><font style="font-weight: bold;">&#160;</font>EC approval for HR+/HER2- stage II and III eBC</div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div>
                  <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z69652f39774544808c65bc946355bce7">

                      <tr>
                        <td style="width: 28.8pt; vertical-align: top; text-align: right;">
                          <div style="margin: 0px 0px 0px 14.4pt; line-height: 11.4pt; padding: 0px 0px 5px; font-size: 11pt; text-align: left;">o</div>
                        </td>
                        <td style="width: auto; vertical-align: top;">
                          <div style="line-height: 11.4pt; padding: 0px 0px 5px; font-size: 11pt;"><font style="font-weight: bold; font-style: italic;">Fabhalta</font> (iptacopan) FDA submission for C3G; priority review granted</div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div>
                  <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z260190d81176448d967fe5ae10e5d2c5">

                      <tr>
                        <td style="width: 28.8pt; vertical-align: top; text-align: right;">
                          <div style="margin: 0px 0px 0px 14.4pt; line-height: 11.4pt; padding: 0px 0px 5px; font-size: 11pt; text-align: left;">o</div>
                        </td>
                        <td style="width: auto; vertical-align: top;">
                          <div style="line-height: 11.4pt; padding: 0px 0px 5px; font-size: 11pt;"><font style="font-weight: bold;">OAV101 IT</font> Phase III STEER study positive readout in SMA</div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div style="line-height: 4.55pt;"><br style="line-height: 4.55pt;">
                </div>
                <div style="line-height: 4.55pt">&#160;</div>
                <div style="line-height: 11.4pt; padding: 0px 0px 3px; font-family: Arial; font-size: 11pt; font-weight: bold;"><u>Dividend, 2025 guidance</u></div>
                <div>
                  <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2bf0699a2cb64f2db3c3fd7aa039ce88">

                      <tr>
                        <td style="width: 14.4pt; vertical-align: top; text-align: right;">
                          <div style="line-height: 11.4pt; padding: 0px 0px 5px; font-size: 11pt; text-align: left; font-weight: bold;">&#8226;</div>
                        </td>
                        <td style="width: auto; vertical-align: top;">
                          <div style="line-height: 11.4pt; padding: 0px 0px 5px; font-size: 11pt;"><font style="font-weight: bold;">Dividend of CHF 3.50 per share, an increase of 6.1%</font>, proposed for 2024</div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div>
                  <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zbe3f1e35ab4144b9807165793a1d1b34">

                      <tr>
                        <td style="width: 14.4pt; vertical-align: top; text-align: right;">
                          <div style="line-height: 11.4pt; padding: 0px 0px 5px; font-size: 11pt; text-align: left; font-weight: bold;">&#8226;</div>
                        </td>
                        <td style="width: auto; vertical-align: top;">
                          <div style="line-height: 11.4pt; padding: 0px 0px 5px; font-size: 11pt;"><font style="font-weight: bold;">2025 guidance</font><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">2 </sup>&#8211; Net sales expected to<font style="font-weight: bold;"> grow
                              mid- to high-single digit</font> and core operating income expected to<font style="font-weight: bold;"> grow high single to low double-digit</font></div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div style="line-height: 10.25pt;"><br style="line-height: 10.25pt;">
                </div>
                <div style="line-height: 12pt; font-family: Arial; font-size: 11pt;"><font style="font-weight: bold;">Basel, January 31, 2025 </font>&#8211; commenting on Q4 2024 results, Vas Narasimhan, CEO of Novartis, said:</div>
                <div style="line-height: 12pt; font-family: Arial; font-size: 11pt; font-style: italic;">&#8220;In our first full year as a pure-play innovative medicines company, Novartis delivered one of the strongest financial performances in our history,
                  growing sales 12% cc and core operating income 22% cc. We also achieved important innovation milestones, including new approvals and readouts for many of the assets that will fuel our growth over the mid- to long-term. With the momentum
                  we are seeing in the business, we expect to continue our strong sales growth with margin expansion in 2025 and we remain on track to deliver on our mid-term guidance. Looking ahead, we are focused on executing against our pipeline,
                  including 15 submission-enabling readouts over the coming years and more than 30 assets with the potential to drive differentiated growth over the long term. We remain balanced in our capital allocation approach and committed to creating
                  sustainable value for shareholders.&#8221;</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" id="ze12857754a944da1971d6da501aa84a6">

                    <tr>
                      <td style="vertical-align: middle; white-space: nowrap; width: 20%; padding: 5px 0px 1px 5px;">
                        <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Key figures</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;" rowspan="1" colspan="8">
                        <div style="text-align: center; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Continuing operations<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup></div>
                      </td>
                    </tr>
                    <tr>
                      <td style="vertical-align: bottom; white-space: nowrap; width: 20%; padding: 5px 0px 1px 5px;">&#160;</td>
                      <td style="vertical-align: bottom; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Q4 2024</div>
                      </td>
                      <td style="vertical-align: bottom; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">Q4 2023</div>
                      </td>
                      <td style="vertical-align: bottom; width: 10%; padding: 5px 0px 1px;" rowspan="1" colspan="2">
                        <div style="line-height: 9.1pt; padding: 0px 0px 0px 20px; color: #000000; font-size: 8pt; text-align: center;">% change</div>
                      </td>
                      <td style="vertical-align: bottom; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">FY 2024</div>
                      </td>
                      <td style="vertical-align: bottom; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">FY 2023</div>
                      </td>
                      <td style="vertical-align: bottom; width: 10%; padding: 5px 0px 1px;" rowspan="1" colspan="2">
                        <div style="line-height: 9.1pt; padding: 0px 0px 0px 20px; color: #000000; font-size: 8pt; text-align: center;">% change</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid #000000; vertical-align: bottom; white-space: nowrap; width: 20%; padding: 5px 0px 1px 5px;">
                        <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                      </td>
                      <td style="border-bottom: 1px solid #000000; vertical-align: bottom; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">USD m</div>
                      </td>
                      <td style="border-bottom: 1px solid #000000; vertical-align: bottom; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">USD m</div>
                      </td>
                      <td style="border-bottom: 1px solid #000000; vertical-align: bottom; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">USD</div>
                      </td>
                      <td style="border-bottom: 1px solid #000000; vertical-align: bottom; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">cc</div>
                      </td>
                      <td style="border-bottom: 1px solid #000000; vertical-align: bottom; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">USD m</div>
                      </td>
                      <td style="border-bottom: 1px solid #000000; vertical-align: bottom; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">USD m</div>
                      </td>
                      <td style="border-bottom: 1px solid #000000; vertical-align: bottom; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">USD</div>
                      </td>
                      <td style="border-bottom: 1px solid #000000; vertical-align: bottom; width: 10%; padding: 5px 5px 1px 0px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">cc</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid; border-top: 1px solid #000000; vertical-align: bottom; width: 20%; padding: 5px 0px 1px 5px;">
                        <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Net sales</div>
                      </td>
                      <td style="border-bottom: 1px solid; border-top: 1px solid #000000; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">13 153</div>
                      </td>
                      <td style="border-bottom: 1px solid; border-top: 1px solid #000000; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">11 423</div>
                      </td>
                      <td style="border-bottom: 1px solid; border-top: 1px solid #000000; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">15</div>
                      </td>
                      <td style="border-bottom: 1px solid; border-top: 1px solid #000000; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">16</div>
                      </td>
                      <td style="border-bottom: 1px solid; border-top: 1px solid #000000; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">50 317</div>
                      </td>
                      <td style="border-bottom: 1px solid; border-top: 1px solid #000000; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">45 440</div>
                      </td>
                      <td style="border-bottom: 1px solid; border-top: 1px solid #000000; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">11</div>
                      </td>
                      <td style="border-bottom: 1px solid; border-top: 1px solid #000000; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 5px 1px 0px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">12</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; width: 20%; padding: 5px 0px 1px 5px;">
                        <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Operating income</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">3 530</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">2 582</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">37</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">39</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">14 544</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">9 769</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">49</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 5px 1px 0px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">55</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; width: 20%; padding: 5px 0px 1px 5px;">
                        <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Net income</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">2 820</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">2 638</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">7</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">6</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">11 939</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">8 572</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">39</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 5px 1px 0px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">45</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; width: 20%; padding: 5px 0px 1px 5px;">
                        <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">EPS (USD)</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">1.42</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">1.29</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">10</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">10</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">5.92</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">4.13</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">43</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 5px 1px 0px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">49</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; width: 20%; padding: 5px 0px 1px 5px;">
                        <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Free cash flow</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">3 635</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">2 141</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">70</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">&#160;</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">16 253</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">13 160</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">24</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 5px 1px 0px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">&#160;</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; width: 20%; padding: 5px 0px 1px 5px;">
                        <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Core operating income</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">4 859</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">3 821</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">27</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">29</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">19 494</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">16 372</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">19</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 5px 1px 0px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">22</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; width: 20%; padding: 5px 0px 1px 5px;">
                        <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Core net income</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">3 933</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">3 126</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">26</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">29</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">15 755</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">13 446</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">17</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 5px 1px 0px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">21</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; width: 20%; padding: 5px 0px 1px 5px;">
                        <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Core EPS (USD)</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">1.98</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">1.53</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">29</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">33</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">7.81</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">6.47</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">21</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 10%; padding: 5px 5px 1px 0px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">24</div>
                      </td>
                    </tr>

                </table>
                <div style="line-height: 0pt;">
                  <div style="line-height: 17.2pt;"><br>
                    <div style="line-height: 8pt; color: #000000; font-family: Arial; font-size: 8pt;">1. Constant currencies (cc), core results and free cash flow are non-IFRS measures. An explanation of non-IFRS measures can be found on page 47 of the
                      Condensed Financial Report. Unless otherwise noted, all growth rates in this Release refer to same period in prior year.&#160; &#160; 2. Please see detailed guidance assumptions on page&#160;7.<br>
                      3. As defined on page 35 of the Condensed Financial Report, Continuing operations include the retained business activities of Novartis, comprising the innovative medicines business and the continuing corporate activities, and
                      Discontinued operations include operational results from the Sandoz business.</div>
                    <div style="line-height: 8pt; color: #000000; font-family: Arial; font-size: 8pt;"> <br>
                    </div>
                  </div>
                </div>
                <div class="BRPFPageBreakArea" style="clear: both; margin-top: 13pt; margin-bottom: 13pt;">
                  <div class="BRPFPageFooter">
                    <div style="text-align: center; line-height: 9.1pt; font-family: Arial; font-size: 8pt;"></div>
                    <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
                    </div>
                  </div>
                  <div class="BRPFPageBreak" style="page-break-after: always;">
                    <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
                  <div id="BRPFPageHeader">
                    <div></div>
                  </div>
                </div>
                <div style="line-height: 17.2pt;"><font style="font-size: 14pt; font-family: Arial; font-weight: bold;"> <br>
                  </font></div>
                <font style="font-size: 14pt; font-family: Arial; font-weight: bold;"> <br>
                </font>
                <div style="line-height: 17.2pt;"><font style="font-size: 14pt; font-family: Arial; font-weight: bold;">Strategy<br>
                  </font><br style="line-height: 17.2pt;">
                </div>
                <div style="line-height: 12pt; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;">Our focus</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">In 2023, Novartis completed its transformation into a &#8220;pure-play&#8221; innovative medicines business. We have a clear focus on <font style="font-weight: bold;">four




                    core therapeutic areas</font> (cardiovascular-renal-metabolic, immunology, neuroscience and oncology), with multiple significant in-market and pipeline assets in each of these areas, that address high disease burden and have substantial
                  growth potential. In addition to two established <font style="font-weight: bold;">technology platforms</font> (chemistry and biotherapeutics), three emerging platforms (gene &amp; cell therapy, radioligand therapy and xRNA) are being
                  prioritized for continued investment into new R&amp;D capabilities and manufacturing scale. Geographically, we are focused on growing in our <font style="font-weight: bold;">priority geographies</font> &#8211; the US, China, Germany and Japan.</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;">Our priorities</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div>
                  <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z626bca2329564f0f803a52979d13648c">

                      <tr>
                        <td style="width: 18pt; vertical-align: top; text-align: right;">
                          <div style="line-height: 12pt; padding: 0px 0px 5px; color: #000000; font-size: 11pt; text-align: left;">1.</div>
                        </td>
                        <td style="width: auto; vertical-align: top;">
                          <div style="line-height: 12pt; color: #000000; font-size: 11pt;"><font style="font-weight: bold;">Accelerate growth</font>: Renewed attention to deliver high-value medicines (NMEs) and focus on launch excellence, with a rich
                            pipeline across our core therapeutic areas.</div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div>
                  <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z3636676fb88a4d0eb6dae26429b996f0">

                      <tr>
                        <td style="width: 18pt; vertical-align: top; text-align: right;">
                          <div style="line-height: 12pt; padding: 0px 0px 5px; color: #000000; font-size: 11pt; text-align: left;">2.</div>
                        </td>
                        <td style="width: auto; vertical-align: top;">
                          <div style="line-height: 12pt; padding: 0px 0px 5px; color: #000000; font-size: 11pt;"><font style="font-weight: bold;">Deliver returns</font>: Continuing to embed operational excellence and deliver improved financials. Novartis
                            remains disciplined and shareholder-focused in our approach to capital allocation, with substantial cash generation and a strong capital structure supporting continued flexibility.</div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div>
                  <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze91714e2e69741f183c3f2d3daf6c83e">

                      <tr>
                        <td style="width: 18pt; vertical-align: top; text-align: right;">
                          <div style="line-height: 12pt; padding: 0px 0px 5px; color: #000000; font-size: 11pt; text-align: left;">3.</div>
                        </td>
                        <td style="width: auto; vertical-align: top;">
                          <div style="line-height: 12pt; color: #000000; font-size: 11pt;"><font style="font-weight: bold;">Strengthening foundations</font>: Unleashing the power of our people, scaling data science and technology and continuing to build
                            trust with society.</div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div><br>
                </div>
                <div style="line-height: 12pt">&#160;</div>
                <div style="line-height: 14pt; font-family: Arial; font-size: 14pt; font-weight: bold;">Financials</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Following the September 15, 2023, shareholder approval of the spin-off of Sandoz, Novartis reported its consolidated financial statements as &#8220;continuing
                  operations&#8221; and &#8220;discontinued operations.&#8221;</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Continuing operations include the retained business activities of Novartis, comprising the innovative medicines business and the continuing corporate
                  activities. Discontinued operations include the Sandoz Division and selected portions of corporate activities attributable to Sandoz&#8217;s business, as well as certain expenses related to the spin-off.</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">While the commentary below focuses on continuing operations, we also provide information on discontinued operations.</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;">Continuing operations</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; font-family: Arial; font-size: 11pt; font-weight: bold;">Fourth quarter</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Net sales were USD 13.2 billion (+15%, +16% cc), with volume contributing 15 percentage points to growth. Generic competition had a negative impact of 1
                  percentage point and pricing had a positive impact of 2 percentage points, benefiting from revenue deduction adjustments mainly in the US.</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Operating income was USD 3.5 billion (+37%, +39% cc), mainly driven by higher net sales, partly offset by higher R&amp;D investments.</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Net income was USD 2.8 billion (+7%, +6% cc), mainly driven by higher operating income, partly offset by higher income taxes, mainly resulting from higher
                  income before taxes in the current year and non-recurring tax benefits in the prior year. EPS was USD 1.42 (+10%, +10% cc), benefiting from the lower weighted average number of shares outstanding.</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Core operating income was USD 4.9 billion (+27%, +29% cc), mainly driven by higher net sales, partly offset by higher R&amp;D investments. Core operating
                  income margin was 36.9% of net sales, increasing 3.4 percentage points (+3.7 percentage points cc).</div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">
                  <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 13pt; color: #000000; width: 100%;">

                      <tr>
                        <td style="width: 33.33%;">
                          <div>&#160;</div>
                        </td>
                        <td style="width: 33.33%; text-align: center; font-weight: normal; font-style: normal; font-size: 8pt;">
                          <div>&#160;2</div>
                        </td>
                        <td style="width: 33.33%;">
                          <div>&#160;</div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div style="clear: both; margin-top: 13pt; margin-bottom: 13pt;" class="BRPFPageBreakArea">
                  <div class="BRPFPageFooter">
                    <div style="text-align: center; line-height: 9.1pt; font-family: Arial; font-size: 8pt;"></div>
                    <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
                    </div>
                  </div>
                  <div style="page-break-after: always;" class="BRPFPageBreak">
                    <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
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                    <div></div>
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                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                </div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Core net income was USD 3.9 billion (+26%, +29% cc), mainly due to higher core operating income. Core EPS was USD 1.98 (+29%, +33% cc), benefiting from the
                  lower weighted average number of shares outstanding.</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Free cash flow from continuing operations amounted to USD 3.6 billion (+70% USD), compared with USD 2.1 billion in the prior-year quarter, driven by higher
                  net cash flows from operating activities from continuing operations.</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; font-family: Arial; font-size: 11pt; font-weight: bold;">Full year</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Net sales were USD 50.3 billion (+11%, +12% cc), with volume contributing 14 percentage points to growth. Generic competition had a negative impact of 2
                  percentage points and pricing was flat.</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Operating income was USD 14.5 billion (+49%, +55% cc), mainly driven by higher net sales, lower impairments, amortization and restructuring charges, partly
                  offset by prior-year one-time income from legal matters and higher R&amp;D investments.</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Net income was USD 11.9 billion (+39%, +45% cc), mainly driven by higher operating income, partly offset by higher income taxes, mainly resulting from
                  higher income before taxes in the current year and non-recurring tax benefits in the prior year. EPS was USD 5.92 (+43%, +49% cc), benefiting from the lower weighted average number of shares outstanding.</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Core operating income was USD 19.5 billion (+19%, +22% cc), mainly driven by higher net sales, partly offset by higher R&amp;D investments. Core operating
                  income margin was 38.7% of net sales, increasing 2.7 percentage points (+3.3 percentage points cc).</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Core net income was USD 15.8 billion (+17%, +21% cc), mainly due to higher core operating income. Core EPS was USD 7.81 (+21%, +24% cc), benefiting from
                  the lower weighted average number of shares outstanding.</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Free cash flow from continuing operations amounted to USD 16.3 billion (+24% USD), compared with USD 13.2 billion in 2023, driven by higher net cash flows
                  from operating activities from continuing operations.</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;">Discontinued operations</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Discontinued operations include the Sandoz generic pharmaceuticals and biosimilars division, certain corporate activities attributable to Sandoz and
                  certain other expenses related to the spin-off of the Sandoz business.</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; font-family: Arial; font-size: 11pt; font-weight: bold;">Fourth quarter</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">As the Sandoz spin-off was completed on October 3, 2023, there were no operating results in the fourth quarter of 2024 and 2023 related to discontinued
                  operations. In the fourth quarter of 2023, net income from discontinued operations amounted to USD 5.8 billion, driven by the IFRS Accounting Standards non-cash, non-taxable, net gain on distribution of Sandoz Group AG to Novartis AG
                  shareholders of USD 5.9 billion. For further details see Note 3 &#8220;Significant acquisitions of businesses and spin-off of Sandoz business&#8221; and Note 11 &#8220;Discontinued operations&#8221; to the condensed consolidated financial statements.</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; font-family: Arial; font-size: 11pt; font-weight: bold;">Full year</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">As the Sandoz spin-off was completed on October 3, 2023, there were no operating results in 2024 related to discontinued operations. In 2023, discontinued
                  operations net sales were USD 7.4 billion, operating income amounted to USD 265 million and net income from discontinued operations was USD 6.3 billion driven by the IFRS Accounting Standards non-cash, non-taxable, net gain on
                  distribution of Sandoz Group AG to Novartis AG shareholders, which amounted to USD 5.9 billion. For further details see Note 3 &#8220;Significant acquisitions of businesses and spin-off of Sandoz business&#8221; and Note 11 &#8220;Discontinued operations&#8221;
                  to the condensed consolidated financial statements.</div>
                <div style="line-height: 12.3pt;"><br style="line-height: 12.3pt;">
                </div>
                <div style="line-height: 12.3pt;"><br style="line-height: 12.3pt;">
                </div>
                <div style="line-height: 12.3pt;"><br style="line-height: 12.3pt;">
                </div>
                <div style="line-height: 12.3pt;"><br style="line-height: 12.3pt;">
                </div>
                <div style="line-height: 12.3pt;"><br>
                  <div>
                    <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 13pt; color: #000000; width: 100%;">

                        <tr>
                          <td style="width: 33.33%;">
                            <div>&#160;</div>
                          </td>
                          <td style="width: 33.33%; text-align: center; font-weight: normal; font-style: normal; font-size: 8pt;">
                            <div>&#160;3</div>
                          </td>
                          <td style="width: 33.33%;">
                            <div>&#160;</div>
                          </td>
                        </tr>

                    </table>
                  </div>
                  <div style="clear: both; margin-top: 13pt; margin-bottom: 13pt;" class="BRPFPageBreakArea">
                    <div class="BRPFPageFooter">
                      <div style="text-align: center; line-height: 9.1pt; font-family: Arial; font-size: 8pt;"></div>
                      <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
                      </div>
                    </div>
                    <div style="page-break-after: always;" class="BRPFPageBreak">
                      <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
                    <div id="BRPFPageHeader">
                      <div></div>
                    </div>
                  </div>
                  <div><br>
                  </div>
                  <br style="line-height: 12.3pt;">
                </div>
                <div style="line-height: 12.3pt">&#160;</div>
                <div style="line-height: 12pt; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;">Total Company</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; font-family: Arial; font-size: 11pt; font-weight: bold;">Fourth quarter</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Total Company net income was USD 2.8 billion in 2024, compared with USD 8.5 billion in 2023 and basic EPS was USD 1.42 compared to USD 4.14 in the prior
                  year quarter as the prior year quarter included the IFRS Accounting Standards non-cash, non-taxable, net gain on distribution of Sandoz Group AG to Novartis AG shareholders, which amounted to USD 5.9 billion. Net cash flows from operating
                  activities for total Company amounted to USD 4.2 billion and free cash flow amounted to USD 3.6 billion.</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; font-family: Arial; font-size: 11pt; font-weight: bold;">Full year</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Total Company net income was USD 11.9 billion in 2024, compared with USD 14.9 billion in 2023 and basic EPS was USD 5.92 compared to USD 7.15 in the prior
                  year<font style="font-size: 12pt;">&#160;</font>as the prior year included the IFRS Accounting Standards non-cash, non-taxable, net gain on distribution of Sandoz Group AG to Novartis AG shareholders, which amounted to USD 5.9 billion. Net
                  cash flows from operating activities for total Company amounted to USD 17.6 billion and free cash flow amounted to USD 16.3 billion.</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;">Q4 key growth drivers</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Underpinning our financial results in the quarter is a continued focus on key growth drivers (ranked in order of contribution to Q4 growth) including:</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" id="z1300bd9eac70402d819d5c4b594cbdbc">

                    <tr>
                      <td style="border-bottom: 1px solid #000000; border-top: 1px solid #000000; vertical-align: top; width: 20.84%; padding: 5px 0px 3px 5px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-style: italic; font-weight: bold;">Entresto</div>
                      </td>
                      <td style="border-bottom: 1px solid #000000; border-top: 1px solid #000000; vertical-align: top; width: 79.16%; padding: 5px 5px 3px 0px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">(USD 2 180 million, +34% cc) sustained robust, demand-led growth, with increased penetration in the US and Europe following guideline-directed medical therapy in heart
                          failure, and in China and Japan with increased penetration in hypertension</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 20.84%; padding: 5px 0px 3px 5px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-style: italic; font-weight: bold;">Kesimpta</div>
                      </td>
                      <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 79.16%; padding: 5px 5px 3px 0px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">(USD 950 million, +49% cc) sales grew across all regions reflecting increased demand for a high efficacy product with convenient self-administered dosing</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 20.84%; padding: 5px 0px 3px 5px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-style: italic; font-weight: bold;">Kisqali</div>
                      </td>
                      <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 79.16%; padding: 5px 5px 3px 0px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">(USD 902 million, +52% cc) sales grew strongly across all regions, including +66% (cc) growth in the US with strong momentum from the recently launched early breast
                          cancer (eBC) indication. <font style="font-style: italic;">Kisqali</font> growth is underpinned by increasing recognition of its overall survival benefit in HR+/HER2- metastatic breast cancer (mBC) as well as Category 1 NCCN
                          Guidelines recommendation in both mBC and eBC</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 20.84%; padding: 5px 0px 3px 5px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-style: italic; font-weight: bold;">Cosentyx</div>
                      </td>
                      <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 79.16%; padding: 5px 5px 3px 0px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">(USD 1 596 million, +24% cc) sales grew mainly in the US, Europe and emerging growth markets driven by recent launches (including the HS indication and the IV
                          formulation in the US) and volume growth in core indications</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 20.84%; padding: 5px 0px 3px 5px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-style: italic; font-weight: bold;">Leqvio</div>
                      </td>
                      <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 79.16%; padding: 5px 5px 3px 0px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">(USD 223 million, +83% cc) continued to show steady growth, with a focus on increasing account and patient adoption, and continuing medical education</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 20.84%; padding: 5px 0px 3px 5px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-style: italic; font-weight: bold;">Scemblix</div>
                      </td>
                      <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 79.16%; padding: 5px 5px 3px 0px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">(USD 207 million, +66% cc) sales grew across all regions demonstrating the continued high unmet need in CML</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 20.84%; padding: 5px 0px 3px 5px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-style: italic; font-weight: bold;">Pluvicto</div>
                      </td>
                      <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 79.16%; padding: 5px 5px 3px 0px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">(USD 351 million, +28% cc) sales grew in Europe and in the US. With supply now unconstrained, the focus is on increasing share in established RLT sites while opening
                          new sites and referral pathways and initiating new patients</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 20.84%; padding: 5px 0px 3px 5px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-style: italic; font-weight: bold;">Fabhalta</div>
                      </td>
                      <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 79.16%; padding: 5px 5px 3px 0px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">(USD 57 million) launch continues with a modest ramp in PNH globally and in IgA nephropathy in the US</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 20.84%; padding: 5px 0px 3px 5px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-style: italic; font-weight: bold;">Jakavi</div>
                      </td>
                      <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 79.16%; padding: 5px 5px 3px 0px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">(USD 487 million, +13% cc) sales grew across all regions driven by strong demand across indications</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 20.84%; padding: 5px 0px 3px 5px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-style: italic; font-weight: bold;">Tafinlar + Mekinist</div>
                      </td>
                      <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 79.16%; padding: 5px 5px 3px 0px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">(USD 527 million, +10% cc) sales grew mainly in the US, Japan and emerging growth markets driven by increased demand</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 20.84%; padding: 5px 0px 3px 5px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-style: italic; font-weight: bold;">Lutathera</div>
                      </td>
                      <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 79.16%; padding: 5px 5px 3px 0px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">(USD 190 million, +30% cc) sales grew across all regions due to increased demand and earlier line adoption (within indication) in the US and Japan</div>
                      </td>
                    </tr>

                </table>
                <div style="line-height: 12pt; padding: 5px 0px 0px; color: #000000; font-family: Arial; font-size: 8pt;"><br>
                </div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="text-align: justify; line-height: 12pt; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;"> <br>
                </div>
                <div style="text-align: justify; line-height: 12pt; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;"> <br>
                </div>
                <div style="text-align: justify; line-height: 12pt; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;"> <br>
                </div>
                <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 13pt; color: #000000; width: 100%;">

                    <tr>
                      <td style="width: 33.33%;">
                        <div>&#160;</div>
                      </td>
                      <td style="width: 33.33%; text-align: center; font-weight: normal; font-style: normal; font-size: 8pt;">
                        <div>&#160;4</div>
                      </td>
                      <td style="width: 33.33%;">
                        <div>&#160;</div>
                      </td>
                    </tr>

                </table>
                <div style="clear: both; margin-top: 13pt; margin-bottom: 13pt;" class="BRPFPageBreakArea">
                  <div class="BRPFPageFooter">
                    <div style="text-align: center; line-height: 9.1pt; font-family: Arial; font-size: 8pt;"></div>
                    <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
                    </div>
                  </div>
                  <div style="page-break-after: always;" class="BRPFPageBreak">
                    <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
                  <div id="BRPFPageHeader">
                    <div></div>
                  </div>
                </div>
                <br>
                <div style="text-align: justify; line-height: 12pt; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;"> <br>
                </div>
                <div style="text-align: justify; line-height: 12pt; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;"> <br>
                </div>
                <div style="text-align: justify; line-height: 12pt; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;">
                  <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;">

                      <tr>
                        <td style="border-bottom: 1px solid #000000; border-top: 1px solid; vertical-align: top; width: 20.84%; padding: 5px 0px 3px 5px;">
                          <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-style: italic; font-weight: bold;">Ilaris</div>
                        </td>
                        <td style="border-bottom: 1px solid #000000; border-top: 1px solid; vertical-align: top; width: 79.16%; padding: 5px 5px 3px 0px;">
                          <div style="line-height: 12pt; color: #000000; font-size: 11pt;">(USD 413 million, +11% cc) sales grew across all regions, led by the US</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 20.84%; padding: 5px 0px 3px 5px;">
                          <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-style: italic; font-weight: bold;">Xolair</div>
                        </td>
                        <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 79.16%; padding: 5px 5px 3px 0px;">
                          <div style="line-height: 12pt; color: #000000; font-size: 11pt;">(USD 399 million, +9% cc) grew mainly in emerging growth markets</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 2px solid #000000; vertical-align: top; width: 20.84%; padding: 5px 0px 3px 5px;">
                          <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-weight: bold;">Emerging growth markets*</div>
                        </td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: top; width: 79.16%; padding: 5px 5px 3px 0px;">
                          <div style="line-height: 12pt; color: #000000; font-size: 11pt;">Grew +9% (cc) overall. China grew +7% (cc) to USD 0.8 billion, mainly driven by <font style="font-style: italic;">Entresto, Xolair </font>and<font style="font-style: italic;"> Kisqali</font></div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div style="text-align: justify; line-height: 12pt; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;">
                  <div style="line-height: 12pt; padding: 5px 0px 10px; color: #000000; font-size: 8pt; font-weight: normal;">*All markets except the US, Canada, Western Europe, Japan, Australia, and New Zealand</div>
                </div>
                <div style="text-align: justify; line-height: 12pt; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;"> <br>
                </div>
                <div style="text-align: justify; line-height: 12pt; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;">Net sales of the top 20 brands in the fourth quarter and full year</div>
                <br>
                <div style="line-height: 14pt; color: #000000; font-family: Arial; font-size: 14pt; font-weight: bold;">
                  <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" id="z30ffdc3113d94e5a9944fa1fb83054c4">

                      <tr>
                        <td style="vertical-align: top; white-space: nowrap; width: 31.63%; padding: 2px 0px 5px 5px;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 11.41%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; font-size: 11pt; font-weight: bold;">Q4 2024</div>
                        </td>
                        <td colspan="2" style="vertical-align: bottom; white-space: nowrap; width: 22.79%; padding: 2px 0px 5px;">
                          <div style="line-height: 11.8pt; padding: 0px 0px 0px 35px; font-size: 11pt; text-align: center;">% change</div>
                        </td>
                        <td style="vertical-align: top; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; font-size: 11pt; font-weight: bold;">FY 2024</div>
                        </td>
                        <td colspan="2" style="vertical-align: top; width: 22.78%; padding: 2px 0px 5px;">
                          <div style="line-height: 11.8pt; padding: 0px 0px 0px 35px; font-size: 11pt; text-align: center;">% change</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 2px solid #000000; vertical-align: top; width: 31.63%; padding: 2px 0px 5px 5px;">&#160;</td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 11.41%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; font-size: 11pt; font-weight: bold;">USD m</div>
                        </td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; font-size: 11pt;">USD</div>
                        </td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; font-size: 11pt;">cc</div>
                        </td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; font-size: 11pt; font-weight: bold;">USD m</div>
                        </td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; font-size: 11pt;">USD</div>
                        </td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: top; width: 11.38%; padding: 2px 5px 5px 0px;">
                          <div style="text-align: right; line-height: 11.8pt; font-size: 11pt;">cc</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: top; white-space: nowrap; width: 31.63%; padding: 2px 0px 5px 5px;">
                          <div style="line-height: 11.8pt; font-size: 11pt; font-style: italic;">Entresto</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: top; white-space: nowrap; width: 11.41%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">2 180</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: top; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; font-size: 11pt;">33</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: top; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; font-size: 11pt;">34</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: top; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; font-size: 11pt; font-weight: bold;">7 822</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: top; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; font-size: 11pt;">30</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: top; width: 11.38%; padding: 2px 5px 5px 0px;">
                          <div style="text-align: right; line-height: 11.8pt; font-size: 11pt;">31</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: top; white-space: nowrap; width: 31.63%; padding: 2px 0px 5px 5px;">
                          <div style="line-height: 11.8pt; font-size: 11pt; font-style: italic;">Cosentyx</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.41%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">1 596</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">22</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">24</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">6 141</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">23</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.38%; padding: 2px 5px 5px 0px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">25</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: top; white-space: nowrap; width: 31.63%; padding: 2px 0px 5px 5px;">
                          <div style="line-height: 11.8pt; font-size: 11pt; font-style: italic;">Kesimpta</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.41%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;950</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">48</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">49</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">3 224</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">49</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.38%; padding: 2px 5px 5px 0px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">49</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: top; white-space: nowrap; width: 31.63%; padding: 2px 0px 5px 5px;">
                          <div style="line-height: 11.8pt; font-size: 11pt; font-style: italic;">Kisqali</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.41%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;902</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">48</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">52</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">3 033</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">46</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.38%; padding: 2px 5px 5px 0px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">49</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: top; white-space: nowrap; width: 31.63%; padding: 2px 0px 5px 5px;">
                          <div style="line-height: 11.8pt; font-size: 11pt; font-style: italic;">Promacta/Revolade</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.41%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;583</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">4</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">5</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">2 216</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">-2</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.38%; padding: 2px 5px 5px 0px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">-1</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: top; white-space: nowrap; width: 31.63%; padding: 2px 0px 5px 5px;">
                          <div style="line-height: 11.8pt; font-size: 11pt; font-style: italic;">Tafinlar + Mekinist</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.41%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;527</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">8</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">10</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">2 058</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">7</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.38%; padding: 2px 5px 5px 0px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">9</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: top; white-space: nowrap; width: 31.63%; padding: 2px 0px 5px 5px;">
                          <div style="line-height: 11.8pt; font-size: 11pt; font-style: italic;">Jakavi</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.41%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;487</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">10</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">13</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">1 936</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">13</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.38%; padding: 2px 5px 5px 0px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">15</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: top; white-space: nowrap; width: 31.63%; padding: 2px 0px 5px 5px;">
                          <div style="line-height: 11.8pt; font-size: 11pt; font-style: italic;">Tasigna</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.41%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;411</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">-8</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">-6</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">1 671</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">-10</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.38%; padding: 2px 5px 5px 0px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">-8</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: top; white-space: nowrap; width: 31.63%; padding: 2px 0px 5px 5px;">
                          <div style="line-height: 11.8pt; font-size: 11pt; font-style: italic;">Xolair</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11.41%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;399</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">6</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">9</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: middle; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">1 643</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: middle; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">12</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: middle; width: 11.38%; padding: 2px 5px 5px 0px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">15</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: top; white-space: nowrap; width: 31.63%; padding: 2px 0px 5px 5px;">
                          <div style="line-height: 11.8pt; font-size: 11pt; font-style: italic;">Ilaris</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.41%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;413</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">10</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">11</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">1 509</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">11</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.38%; padding: 2px 5px 5px 0px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">14</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: top; white-space: nowrap; width: 31.63%; padding: 2px 0px 5px 5px;">
                          <div style="line-height: 11.8pt; font-size: 11pt; font-style: italic;">Pluvicto</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.41%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;351</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">29</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">28</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">1 392</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">42</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.38%; padding: 2px 5px 5px 0px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">42</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: top; white-space: nowrap; width: 31.63%; padding: 2px 0px 5px 5px;">
                          <div style="line-height: 11.8pt; font-size: 11pt;"><font style="font-style: italic;">Sandostatin </font>Group</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.41%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;306</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">-3</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">-1</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">1 279</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">-3</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.38%; padding: 2px 5px 5px 0px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">-1</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: top; white-space: nowrap; width: 31.63%; padding: 2px 0px 5px 5px;">
                          <div style="line-height: 11.8pt; font-size: 11pt; font-style: italic;">Zolgensma</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.41%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;262</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">-8</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">-6</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">1 214</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">0</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.38%; padding: 2px 5px 5px 0px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">2</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: top; white-space: nowrap; width: 31.63%; padding: 2px 0px 5px 5px;">
                          <div style="line-height: 11.8pt; font-size: 11pt; font-style: italic;">Lucentis</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.41%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;210</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">-30</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">-29</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">1 044</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">-29</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.38%; padding: 2px 5px 5px 0px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">-28</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: top; white-space: nowrap; width: 31.63%; padding: 2px 0px 5px 5px;">
                          <div style="line-height: 11.8pt; font-size: 11pt; font-style: italic;">Leqvio</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.41%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;223</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">81</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">83</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;754</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">112</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.38%; padding: 2px 5px 5px 0px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">114</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: top; white-space: nowrap; width: 31.63%; padding: 2px 0px 5px 5px;">
                          <div style="line-height: 11.8pt; font-size: 11pt; font-style: italic;">Lutathera</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.41%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;190</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">29</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">30</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;724</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">20</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.38%; padding: 2px 5px 5px 0px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">20</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: top; white-space: nowrap; width: 31.63%; padding: 2px 0px 5px 5px;">
                          <div style="line-height: 11.8pt; font-size: 11pt;"><font style="font-style: italic;">Exforge </font>Group</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.41%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;159</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">2</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">8</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;703</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">-1</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.38%; padding: 2px 5px 5px 0px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">2</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: top; white-space: nowrap; width: 31.63%; padding: 2px 0px 5px 5px;">
                          <div style="line-height: 11.8pt; font-size: 11pt; font-style: italic;">Scemblix</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.41%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;207</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">66</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">66</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;689</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">67</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.38%; padding: 2px 5px 5px 0px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">68</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: top; white-space: nowrap; width: 31.63%; padding: 2px 0px 5px 5px;">
                          <div style="line-height: 11.8pt; font-size: 11pt;"><font style="font-style: italic;">Galvus </font>Group</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.41%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;144</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">-6</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">2</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;602</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">-13</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 11.38%; padding: 2px 5px 5px 0px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">-6</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 2px solid; vertical-align: top; white-space: nowrap; width: 31.63%; padding: 2px 0px 5px 5px;">
                          <div style="line-height: 11.8pt; font-size: 11pt;"><font style="font-style: italic;">Diovan </font>Group</div>
                        </td>
                        <td style="border-bottom: 2px solid; vertical-align: bottom; white-space: nowrap; width: 11.41%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;140</div>
                        </td>
                        <td style="border-bottom: 2px solid; vertical-align: bottom; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">-5</div>
                        </td>
                        <td style="border-bottom: 2px solid; vertical-align: bottom; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">-2</div>
                        </td>
                        <td style="border-bottom: 2px solid; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;590</div>
                        </td>
                        <td style="border-bottom: 2px solid; vertical-align: bottom; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">-4</div>
                        </td>
                        <td style="border-bottom: 2px solid; vertical-align: bottom; width: 11.38%; padding: 2px 5px 5px 0px;">
                          <div style="text-align: right; line-height: 11.8pt; color: #000000; font-size: 11pt;">0</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: top; white-space: nowrap; width: 31.63%; padding: 2px 0px 5px 5px;">
                          <div style="line-height: 11.8pt; font-size: 11pt;">Top 20 brands total</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: top; white-space: nowrap; width: 11.41%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; font-size: 11pt; font-weight: bold;">10 640</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: top; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; font-size: 11pt;">19</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: top; white-space: nowrap; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; font-size: 11pt;">21</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: top; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; font-size: 11pt; font-weight: bold;">40 244</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: top; width: 11.4%; padding: 2px 0px 5px;">
                          <div style="text-align: right; line-height: 11.8pt; font-size: 11pt;">18</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: top; width: 11.38%; padding: 2px 5px 5px 0px;">
                          <div style="text-align: right; line-height: 11.8pt; font-size: 11pt;">19</div>
                        </td>
                      </tr>

                  </table>
                  <div style="line-height: 14.75pt;"><br style="line-height: 14.75pt;">
                  </div>
                </div>
                <div style="line-height: 14pt; color: #000000; font-family: Arial; font-size: 14pt; font-weight: bold;"> <br>
                </div>
                <div style="line-height: 14pt; color: #000000; font-family: Arial; font-size: 14pt; font-weight: bold;"> </div>
                <div style="line-height: 14pt; color: #000000; font-family: Arial; font-size: 14pt; font-weight: bold;">R&amp;D update - key developments from the fourth quarter</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;">New approvals</div>
                <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" id="zaa083de47e0440d4a86741e360f13a5f">

                    <tr>
                      <td style="border-bottom: 1px solid #000000; border-top: 1px solid; vertical-align: top; width: 18.11%; padding: 5px 0px 3px 5px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-style: italic; font-weight: bold;">Scemblix</div>
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">(asciminib)</div>
                      </td>
                      <td style="border-bottom: 1px solid #000000; border-top: 1px solid; vertical-align: top; width: 81.89%; padding: 5px 5px 3px 0px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">FDA granted accelerated approval to <font style="font-style: italic;">Scemblix</font> for adult patients with newly diagnosed Philadelphia chromosome-positive chronic
                          myeloid leukemia in chronic phase (Ph+ CML-CP). The FDA also broadened the indication for <font style="font-style: italic;">Scemblix</font> to include adult patients with previously treated Ph+ CML-CP.</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 18.11%; padding: 5px 0px 3px 5px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-style: italic; font-weight: bold;">Kisqali</div>
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">(ribociclib)</div>
                      </td>
                      <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 81.89%; padding: 5px 5px 3px 0px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">EC approved <font style="font-style: italic;">Kisqali</font> as an adjuvant treatment in combination with an aromatase inhibitor for patients with HR+/HER2- early
                          breast cancer (eBC) at high risk of recurrence regardless of nodal status, nearly doubling the eligible population.</div>
                      </td>
                    </tr>

                </table>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div><br>
                </div>
                <div><br>
                </div>
                <div><br>
                </div>
                <div><br>
                </div>
                <div>
                  <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 13pt; color: #000000; width: 100%;">

                      <tr>
                        <td style="width: 33.33%;">
                          <div>&#160;</div>
                        </td>
                        <td style="width: 33.33%; text-align: center; font-weight: normal; font-style: normal; font-size: 8pt;">
                          <div>&#160;5</div>
                        </td>
                        <td style="width: 33.33%;">
                          <div>&#160;</div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div style="clear: both; margin-top: 13pt; margin-bottom: 13pt;" class="BRPFPageBreakArea">
                  <div class="BRPFPageFooter">
                    <div style="text-align: center; line-height: 9.1pt; font-family: Arial; font-size: 8pt;"></div>
                    <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
                    </div>
                  </div>
                  <div style="page-break-after: always;" class="BRPFPageBreak">
                    <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
                  <div class="BRPFPageHeader">
                    <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
                    </div>
                    <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
                    </div>
                  </div>
                </div>
                <div><br>
                </div>
                <div style="line-height: 12pt; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;">Regulatory updates</div>
                <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" id="z4c4912147abd4952bd6479e4b128b5ad">

                    <tr>
                      <td style="border-bottom: 1px solid #000000; border-top: 1px solid #000000; vertical-align: top; width: 18.1%; padding: 5px 0px 3px 5px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-style: italic; font-weight: bold;">Fabhalta</div>
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">(iptacopan)</div>
                      </td>
                      <td style="border-bottom: 1px solid #000000; border-top: 1px solid #000000; vertical-align: top; width: 81.9%; padding: 5px 5px 3px 0px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">Submission for the treatment of C3 glomerulopathy (C3G) was completed in the US, and the FDA granted Priority Review status to <font style="font-style: italic;">Fabhalta</font>
                          in this indication. The FDA also confirmed no need for an Advisory Committee meeting.</div>
                      </td>
                    </tr>

                </table>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;">Results from ongoing trials and other highlights</div>
                <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" id="zcec10e4779f74b81b0921200a46df005">

                    <tr>
                      <td style="border-bottom: 1px solid #000000; border-top: 1px solid; vertical-align: top; width: 18.1%; padding: 5px 0px 3px 5px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-weight: bold;">OAV101 IT</div>
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">(onasemnogene abeparvovec)</div>
                      </td>
                      <td style="border-bottom: 1px solid #000000; border-top: 1px solid; vertical-align: top; width: 81.9%; padding: 5px 5px 3px 0px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">Novartis announced positive topline results from the Phase III STEER study. This pivotal trial assessed the efficacy and safety of investigational intrathecal OAV101
                          in treatment-na&#239;ve patients with spinal muscular atrophy (SMA) Type 2, aged two to less than 18 years who are able to sit but have never walked independently. The study met its primary endpoint showing an increase from baseline
                          across the study population in total Hammersmith Functional Motor Scale - Expanded (HFMSE) scores. HFMSE is a gold standard for SMA-specific assessment of motor ability and disease progression.</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 18.1%; padding: 5px 0px 3px 5px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-style: italic; font-weight: bold;">Pluvicto</div>
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">(lutetium Lu177 vipivotide tetraxetan)</div>
                      </td>
                      <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 81.9%; padding: 5px 5px 3px 0px;">
                        <div style="line-height: 11.4pt; color: #000000; font-size: 11pt;">Final overall survival (OS) analysis in the Phase III PSMAfore study in pre-taxane mCRPC demonstrated an OS hazard ratio less than 1.0 (HR&lt;1.0) in the
                          intent-to-treat (ITT) population unadjusted for cross-over. These results have been shared with the FDA as part of their ongoing review of <font style="font-style: italic;">Pluvicto</font> in this indication.</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 18.1%; padding: 5px 0px 3px 5px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-style: italic; font-weight: bold;">Kisqali</div>
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">(ribociclib)</div>
                      </td>
                      <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 81.9%; padding: 5px 5px 3px 0px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">Results from an updated analysis of the pivotal Phase III NATALEE trial of <font style="font-style: italic;">Kisqali</font> plus endocrine therapy (ET) in patients
                          with HR+/HER2- stage II and III eBC showed a sustained reduction in distant recurrence of 28.5% compared to ET alone, underscoring <font style="font-style: italic;">Kisqali&#8217;s</font> extended efficacy beyond its 3-year treatment
                          duration. No new safety signals were identified. Data presented at SABCS.</div>
                        <div style="line-height: 12pt;"><font style="line-height: 12pt;">&#160;</font></div>
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">In addition, <font style="font-style: italic;">Kisqali</font> was recognized by NCCN Guidelines<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174;</sup> as a Category 1 preferred therapy in combination with an
                          aromatase inhibitor for patients with HR+/HER2- eBC. <font style="font-style: italic;">Kisqali</font> is the only Category 1 preferred CDK4/6 inhibitor recommended for both all node-positive disease as well as node-negative
                          disease with high-risk disease characteristics. <font style="font-style: italic;">Kisqali</font> also achieved the highest score (A) on the European Society for Medical Oncology-Magnitude of Clinical Benefit Scale (ESMO-MCBS) for
                          eBC, while maintaining a rating of 5 and 4 in the mBC setting.</div>
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;"> <br>
                        </div>
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">
                          <div style="line-height: 12.3pt; color: #000000;">In January 2025, Novartis settled compound patent litigation with a generic manufacturer,&#160;supporting <font style="font-style: italic;">Kisqali</font> US patent protection until at
                            least Q1 2031.</div>
                        </div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 18.1%; padding: 5px 0px 3px 5px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-style: italic; font-weight: bold;">Scemblix</div>
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">(asciminib)</div>
                      </td>
                      <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 81.9%; padding: 5px 5px 3px 0px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">96-week results from the Phase III ASC4FIRST trial with <font style="font-style: italic;">Scemblix</font> showed sustained superior major molecular response vs. all
                          investigator-selected standard-of-care TKIs (imatinib, nilotinib, dasatinib and bosutinib) and vs. imatinib alone in adult patients with newly diagnosed Ph+ CML-CP. Fewer treatment-related grade &#8805;3 AEs and half the rate of AEs
                          leading to treatment discontinuation were reported for <font style="font-style: italic;">Scemblix</font> vs. both imatinib and second-generation TKIs. Data presented at ASH.</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 18.1%; padding: 5px 0px 3px 5px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-style: italic; font-weight: bold;">Fabhalta</div>
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">(iptacopan)</div>
                      </td>
                      <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 81.9%; padding: 5px 5px 3px 0px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">In the Phase III APPEAR-C3G study, patients with C3G treated with oral <font style="font-style: italic;">Fabhalta</font> in addition to supportive care experienced
                          clinically meaningful proteinuria reduction sustained at 12 months. In addition, in the open-label period of the study, proteinuria reduction was seen in participants switched to <font style="font-style: italic;">Fabhalta</font>,
                          and improvement in estimated glomerular filtration rate (eGFR) slope was observed upon <font style="font-style: italic;">Fabhalta</font> initiation compared to patients&#8217; historic rapid decline. <font style="font-style: italic;">Fabhalta</font>
                          continued to show a favorable safety profile. Data presented at ASN.</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 18.1%; padding: 5px 0px 3px 5px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-weight: bold;">Selected transactions</div>
                      </td>
                      <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 81.9%; padding: 5px 5px 3px 0px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">Novartis entered into a global license and collaboration agreement with PTC Therapeutics for PTC518, a HTT mRNA splice modulator with the potential to become the first
                          oral disease-modifying therapy for Huntington's disease. Under the agreement, Novartis will assume responsibility for PTC518&#8217;s development, manufacturing and commercialization following the completion of the placebo-controlled
                          portion of the ongoing Phase II PIVOT-HD study, expected in H1 2025.</div>
                      </td>
                    </tr>

                </table>
                <div style="line-height: 14pt;"><br style="line-height: 14pt;">
                </div>
                <div style="line-height: 14pt;"><br style="line-height: 14pt;">
                </div>
                <div style="line-height: 14pt">&#160;</div>
                <div style="line-height: 14pt"> <br>
                </div>
                <div style="line-height: 14pt">
                  <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 13pt; color: #000000; width: 100%;">

                      <tr>
                        <td style="width: 33.33%;">
                          <div>&#160;</div>
                        </td>
                        <td style="width: 33.33%; text-align: center; font-weight: normal; font-style: normal; font-size: 8pt;">
                          <div>&#160;6</div>
                        </td>
                        <td style="width: 33.33%;">
                          <div>&#160;</div>
                        </td>
                      </tr>

                  </table>
                </div>
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                    </div>
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                    <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
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                    </div>
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                </div>
                <div><br>
                </div>
                <div style="line-height: 14pt">
                  <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;">

                      <tr>
                        <td style="border-bottom: 1px solid #000000; border-top: 1px solid #000000; vertical-align: top; width: 18.1%; padding: 5px 0px 3px 5px;">
                          <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-weight: bold;"><br>
                          </div>
                        </td>
                        <td style="border-bottom: 1px solid #000000; border-top: 1px solid #000000; vertical-align: top; width: 81.9%; padding: 5px 5px 3px 0px;">
                          <div style="line-height: 12pt; color: #000000; font-size: 11pt;">Novartis acquired Kate Therapeutics, a preclinical-stage biotechnology company focused on developing adeno-associated virus (AAV)-based gene therapies to treat
                            genetically defined neuromuscular diseases. The acquisition will strengthen Novartis&#8217; efforts to advance gene therapies and neuroscience innovation and includes enabling technology platforms and several preclinical therapeutic
                            candidates.</div>
                          <div style="line-height: 12pt;"><font style="line-height: 12pt;">&#160;</font></div>
                          <div style="line-height: 12pt; color: #000000; font-size: 11pt;">Novartis entered into a worldwide licensing and collaboration agreement with Ratio Therapeutics for a next-generation SSTR2-targeting radiotherapeutic candidate. The
                            collaboration focuses on preclinical research and selection of an SSTR2-targeting development candidate, after which Novartis will lead development, manufacturing and commercialization.</div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div style="line-height: 14pt"> <br>
                </div>
                <div style="line-height: 14pt; color: #000000; font-family: Arial; font-size: 14pt; font-weight: bold;"> <br>
                </div>
                <div style="line-height: 14pt; color: #000000; font-family: Arial; font-size: 14pt; font-weight: bold;"> Capital structure and net debt</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Retaining a good balance between investment in the business, a strong capital structure, and attractive shareholder returns remains a priority.</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">In 2024, Novartis repurchased a total of 77.5 million shares for USD 8.3 billion on the SIX Swiss Exchange second trading line. These purchases included
                  68.8 million shares (USD 7.3 billion) under the up-to USD 15 billion share buyback announced in July 2023 (with up to USD 5.4 billion still to be executed). In addition, 8.7 million shares (USD 1.0 billion) were repurchased to mitigate
                  the impact of share deliveries under the equity-based compensation plans for employees. Furthermore, 1.2 million shares (equity value of USD 0.1 billion) were repurchased from employees. In the same period, 9.8 million shares (equity
                  value of USD 1.1 billion) were delivered to employees related to equity-based compensation plans. Consequently, the total number of shares outstanding decreased by 68.9 million versus December 31, 2023. These treasury share transactions
                  resulted in an equity decrease of USD 7.4 billion and a net cash outflow of USD 8.3 billion.</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Net debt increased to USD 16.1 billion at December 31, 2024, compared to USD 10.2 billion net debt at December 31, 2023. The increase was mainly due to the
                  free cash flow of USD 16.3 billion being more than offset by the cash outflows for treasury share transactions of USD 8.3 billion, the annual dividend payment of USD 7.6 billion, and net cash outflow for M&amp;A / intangible assets
                  transactions of USD 6.3 billion.</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">As of Q4 2024, the long-term credit rating for the company is Aa3 with Moody&#8217;s Ratings and AA- with S&amp;P Global Ratings.</div>
                <div style="line-height: 14pt;"><br style="line-height: 14pt;">
                </div>
                <div style="line-height: 14pt">&#160;</div>
                <div style="line-height: 14pt; font-family: Arial; font-size: 14pt; font-weight: bold;">2025 outlook</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" id="z7a4e855ca8fe4629868be14dfb2b937a">

                    <tr>
                      <td colspan="2" style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 100%; padding: 5px 0px 3px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">Barring unforeseen events; growth vs prior year in cc</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid #000000; border-top: 0px solid; vertical-align: middle; width: 42.17%; padding: 5px 0px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-weight: bold;">Net sales</div>
                      </td>
                      <td style="border-bottom: 1px solid #000000; border-top: 0px solid; vertical-align: middle; width: 57.83%; padding: 5px 0px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">Expected to grow <font style="font-weight: bold;">mid- to high-single digit</font></div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 2px solid #000000; vertical-align: middle; width: 42.17%; padding: 5px 0px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-weight: bold;">Core operating income</div>
                      </td>
                      <td style="border-bottom: 2px solid #000000; vertical-align: middle; width: 57.83%; padding: 5px 0px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">Expected to grow <font style="font-weight: bold;">high single to low double-digit</font></div>
                      </td>
                    </tr>

                </table>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; padding: 5px 0px 3px; color: #000000; font-family: Arial; font-size: 11pt; font-weight: bold; text-align: justify;">Key assumptions:</div>
                <div>
                  <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za2a0375fb91146a9994104ad60345b82">

                      <tr>
                        <td style="width: 18pt; vertical-align: top; text-align: right;">
                          <div style="text-align: left; line-height: 12pt; color: #000000; font-size: 11pt;">&#8226;</div>
                        </td>
                        <td style="width: auto; vertical-align: top;">
                          <div style="line-height: 12pt; color: #000000; font-size: 11pt;">We assume <font style="font-style: italic;">Tasigna</font>, <font style="font-style: italic;">Promacta</font> and <font style="font-style: italic;">Entresto</font>
                            US generic entry mid-2025 for forecasting purposes</div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; padding: 5px 0px 0px; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold; text-align: justify;">Foreign exchange impact</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">If late-January exchange rates prevail for the remainder of 2025, the foreign exchange impact for the year would be negative 2 percentage points on net
                  sales and negative 3 percentage points on core operating income. The estimated impact of exchange rates on our results is provided monthly on our website.</div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                </div>
                <div style="line-height: 14pt;"><br style="line-height: 14pt;">
                </div>
                <div style="line-height: 14pt;"><br style="line-height: 14pt;">
                </div>
                <div style="line-height: 14pt;"><br style="line-height: 14pt;">
                </div>
                <div style="line-height: 14pt;">
                  <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 13pt; color: #000000; width: 100%;">

                      <tr>
                        <td style="width: 33.33%;">
                          <div>&#160;</div>
                        </td>
                        <td style="width: 33.33%; text-align: center; font-weight: normal; font-style: normal; font-size: 8pt;">
                          <div>&#160;7</div>
                        </td>
                        <td style="width: 33.33%;">
                          <div>&#160;</div>
                        </td>
                      </tr>

                  </table>
                </div>
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                  <div class="BRPFPageFooter">
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                    <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
                    </div>
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                    <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
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                <div><br>
                </div>
                <div style="line-height: 17.2pt;"></div>
                <div style="line-height: 17.2pt;"><font style="font-size: 14pt; font-family: Arial; font-weight: bold;">Annual General Meeting<br>
                  </font><br style="line-height: 17.2pt;">
                </div>
                <div style="line-height: 12pt; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;">Dividend Proposal</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">The Novartis Board of Directors proposes a dividend payment of CHF 3.50 per share for 2024, up 6.1% from CHF 3.30 per share in the prior year, representing
                  the 28th consecutive dividend increase since the creation of Novartis in December 1996. Shareholders will vote on this proposal at the AGM on March 7, 2025.</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;">Reduction in Share Capital</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">The Novartis Board of Directors proposes to cancel 77 508 630 shares (8 548 613 shares repurchased under the authorization of March 4, 2022, and 68 960 017
                  shares repurchased under the authorization of March 7, 2023) and to reduce the share capital accordingly by CHF 38.0 million, from CHF 1 073 065 943.53 to CHF 1 035 086 714.83.</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;">Potential Further Share Repurchases</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">As of December 31, 2024, the remaining available amount under the existing shareholder authority granted at the 2023 AGM is CHF 3.5 billion. To allow for
                  the full execution of the already announced share buyback of up to USD 15 billion and potential additional share buybacks, the Board of Directors proposes that shareholders, in addition to the remaining authorization of CHF 3.5 billion,
                  authorize the Board of Directors to repurchase shares as deemed appropriate from time to time up to CHF 10 billion between the 2025 AGM and 2028 AGM.</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt;"><font style="font-size: 11pt; font-family: Arial; font-weight: bold; color: #0460A9;">Elections of the Board Chair and the Members of the Board of Directors<br>
                  </font><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Dr. Joerg Reinhardt, Dr. Charles Sawyers and Mr. William Winters are not standing for re-election. The Board of Directors and the Executive Committee of
                  Novartis thank them for their many years of valuable service as Chair and members of the Board of Directors.</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">The Board of Directors proposes the election of Dr. Giovanni Caforio as member of the Board of Directors and Board Chair. Dr. Caforio has had an
                  international career in the healthcare industry spanning more than 35 years, most recently as the Chairman and CEO of Bristol Myers Squibb (BMS).</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 17.2pt; color: #000000; font-family: Arial; font-size: 11pt;">In addition, the Board of Directors proposes the re-election of the current members of the Board of Directors with the exception of Dr. Reinhardt, Dr.
                  Sawyers and Mr. Winters, and the election of Dr. Elizabeth McNally as a new member of the Board of Directors, each until the end of the next Annual General Meeting.</div>
                <div style="line-height: 17.2pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                </div>
                <div style="line-height: 17.2pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                </div>
                <div style="line-height: 17.2pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                </div>
                <div style="line-height: 17.2pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                </div>
                <div style="line-height: 17.2pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                </div>
                <div style="line-height: 17.2pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                </div>
                <div style="line-height: 17.2pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                </div>
                <div style="line-height: 17.2pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                </div>
                <div style="line-height: 17.2pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                </div>
                <div style="line-height: 17.2pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                </div>
                <div style="line-height: 17.2pt">&#160;
                  <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 13pt; color: #000000; width: 100%;">

                      <tr>
                        <td style="width: 33.33%;">
                          <div>&#160;</div>
                        </td>
                        <td style="width: 33.33%; text-align: center; font-weight: normal; font-style: normal; font-size: 8pt;">
                          <div>&#160;8</div>
                        </td>
                        <td style="width: 33.33%;">
                          <div>&#160;</div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div style="clear: both; margin-top: 13pt; margin-bottom: 13pt;" class="BRPFPageBreakArea">
                  <div class="BRPFPageFooter">
                    <div style="text-align: center; line-height: 9.1pt; font-family: Arial; font-size: 8pt;"></div>
                    <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
                    </div>
                  </div>
                  <div style="page-break-after: always;" class="BRPFPageBreak">
                    <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
                  <div class="BRPFPageHeader">
                    <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
                    </div>
                    <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
                    </div>
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                </div>
                <div><br>
                </div>
                <div style="line-height: 17.2pt;"></div>
                <div style="text-align: justify; line-height: 14pt; color: #000000; font-family: Arial; font-size: 14pt; font-weight: bold;">Key figures<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></div>
                <div style="text-align: justify; line-height: 14pt; color: #000000; font-family: Arial; font-size: 14pt; font-weight: bold;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> <br>
                  </sup></div>
                <div style="text-align: justify; line-height: 14pt; color: #000000; font-family: Arial; font-size: 14pt; font-weight: bold;">
                  <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" id="z7f35b432d4844dedb710fac1d609c23b">

                      <tr>
                        <td style="vertical-align: bottom; width: 24.49%; padding: 0px 0px 0px 5px;">
                          <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Continuing operations<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup></div>
                        </td>
                        <td style="vertical-align: bottom; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Q4 2024</div>
                        </td>
                        <td style="vertical-align: bottom; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">Q4 2023</div>
                        </td>
                        <td colspan="3" style="vertical-align: bottom; width: 8%;">
                          <div style="line-height: 9.1pt; padding: 0px 40px 0px 0px; color: #000000; font-size: 8pt; text-align: center;">% change</div>
                        </td>
                        <td style="vertical-align: bottom; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">FY 2024</div>
                        </td>
                        <td style="vertical-align: bottom; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">FY 2023</div>
                        </td>
                        <td colspan="2" style="vertical-align: bottom; width: 8%;">
                          <div style="line-height: 9.1pt; padding: 0px 0px 0px 20px; color: #000000; font-size: 8pt; text-align: center;">% change</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 24.49%; padding: 0px 0px 0px 5px;">
                          <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">USD m</div>
                        </td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">USD m</div>
                        </td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">USD</div>
                        </td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">cc</div>
                        </td>
                        <td style="border-bottom: 0px solid; vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">USD m</div>
                        </td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">USD m</div>
                        </td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">USD</div>
                        </td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 8%; padding: 0px 5px 0px 0px;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">cc</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid #000000; vertical-align: bottom; width: 24.49%; padding: 0px 0px 0px 5px;">
                          <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Net sales</div>
                        </td>
                        <td style="border-bottom: 1px solid #000000; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">13 153</div>
                        </td>
                        <td style="border-bottom: 1px solid #000000; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">11 423</div>
                        </td>
                        <td style="border-bottom: 1px solid #000000; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">15</div>
                        </td>
                        <td style="border-bottom: 1px solid #000000; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">16</div>
                        </td>
                        <td style="border-bottom: 0px solid; vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="border-bottom: 1px solid #000000; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">50 317</div>
                        </td>
                        <td style="border-bottom: 1px solid #000000; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">45 440</div>
                        </td>
                        <td style="border-bottom: 1px solid #000000; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">11</div>
                        </td>
                        <td style="border-bottom: 1px solid #000000; vertical-align: bottom; white-space: nowrap; width: 8%; padding: 0px 5px 0px 0px;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">12</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 24.49%; padding: 0px 0px 0px 5px;">
                          <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Operating income</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">3 530</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">2 582</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">37</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">39</div>
                        </td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">14 544</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">9 769</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">49</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%; padding: 0px 5px 0px 0px;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">55</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 24.49%; padding: 0px 0px 0px 5px;">
                          <div style="text-indent: 16pt; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">As a % of sales</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">26.8</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-style: italic;">22.6</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">&#160;</div>
                        </td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">28.9</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-style: italic;">21.5</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%; padding: 0px 5px 0px 0px;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">&#160;</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 24.49%; padding: 0px 0px 0px 5px;">
                          <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Net income</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">2 820</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">2 638</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">7</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">6</div>
                        </td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">11 939</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">8 572</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">39</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%; padding: 0px 5px 0px 0px;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">45</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 24.49%; padding: 0px 0px 0px 5px;">
                          <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">EPS (USD)</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">1.42</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">1.29</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">10</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">10</div>
                        </td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">5.92</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">4.13</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">43</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%; padding: 0px 5px 0px 0px;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">49</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 24.49%; padding: 0px 0px 0px 5px;">
                          <div style="line-height: 9.1pt; padding: 5px 0px 0px; color: #000000; font-size: 8pt; font-weight: bold;">Cash flows from</div>
                          <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">operating activities</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">4 193</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">2 547</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">65</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">17 619</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">14 220</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">24</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%; padding: 0px 5px 0px 0px;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 24.49%; padding: 0px 0px 0px 5px;">
                          <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Non-IFRS measures</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%; padding: 0px 5px 0px 0px;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 24.49%; padding: 0px 0px 0px 5px;">
                          <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Free cash flow</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">3 635</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">2 141</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">70</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">16 253</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">13 160</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">24</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%; padding: 0px 5px 0px 0px;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 24.49%; padding: 0px 0px 0px 5px;">
                          <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Core operating income</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">4 859</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">3 821</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">27</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">29</div>
                        </td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">19 494</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">16 372</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">19</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%; padding: 0px 5px 0px 0px;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">22</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 24.49%; padding: 0px 0px 0px 5px;">
                          <div style="text-indent: 16pt; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">As a % of sales</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">36.9</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-style: italic;">33.5</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">&#160;</div>
                        </td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">38.7</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-style: italic;">36.0</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%; padding: 0px 5px 0px 0px;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">&#160;</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 24.49%; padding: 0px 0px 0px 5px;">
                          <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Core net income</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">3 933</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">3 126</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">26</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">29</div>
                        </td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">15 755</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">13 446</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">17</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%; padding: 0px 5px 0px 0px;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">21</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 24.49%; padding: 0px 0px 0px 5px;">
                          <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Core EPS (USD)</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">1.98</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">1.53</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">29</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">33</div>
                        </td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">7.81</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">6.47</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">21</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%; padding: 0px 5px 0px 0px;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">24</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 24.49%; padding: 0px 0px 0px 5px;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%; padding: 0px 5px 0px 0px;">&#160;</td>
                      </tr>
                      <tr>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 24.49%; padding: 0px 0px 0px 5px;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%; padding: 0px 5px 0px 0px;">&#160;</td>
                      </tr>
                      <tr>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 24.49%; padding: 0px 0px 0px 5px;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%; padding: 0px 5px 0px 0px;">&#160;</td>
                      </tr>
                      <tr>
                        <td style="vertical-align: bottom; width: 24.49%; padding: 0px 0px 0px 5px;">
                          <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Discontinued operations<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup></div>
                        </td>
                        <td style="vertical-align: bottom; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Q4 2024</div>
                        </td>
                        <td style="vertical-align: bottom; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">Q4 2023</div>
                        </td>
                        <td colspan="3" style="vertical-align: bottom; width: 8%;">
                          <div style="line-height: 9.1pt; padding: 0px 40px 0px 0px; color: #000000; font-size: 8pt; text-align: center;">% change</div>
                        </td>
                        <td style="vertical-align: bottom; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">FY 2024</div>
                        </td>
                        <td style="vertical-align: bottom; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">FY 2023</div>
                        </td>
                        <td colspan="2" style="vertical-align: bottom; width: 8%;">
                          <div style="line-height: 9.1pt; padding: 0px 0px 0px 20px; color: #000000; font-size: 8pt; text-align: center;">% change</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 24.49%; padding: 0px 0px 0px 5px;">
                          <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">USD m</div>
                        </td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">USD m</div>
                        </td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">USD</div>
                        </td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">cc</div>
                        </td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">USD m</div>
                        </td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">USD m</div>
                        </td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">USD</div>
                        </td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 8%; padding: 0px 5px 0px 0px;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">cc</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 24.49%; padding: 0px 0px 0px 5px;">
                          <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Net sales</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">7 428</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%; padding: 0px 5px 0px 0px;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 24.49%; padding: 0px 0px 0px 5px;">
                          <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Operating income</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">265</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%; padding: 0px 5px 0px 0px;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 24.49%; padding: 0px 0px 0px 5px;">
                          <div style="text-indent: 16pt; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">As a % of sales</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-style: italic;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">&#160;</div>
                        </td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-style: italic;">3.6</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%; padding: 0px 5px 0px 0px;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">&#160;</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 24.49%; padding: 0px 0px 0px 5px;">
                          <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Net income</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">5 842</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">6 282</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%; padding: 0px 5px 0px 0px;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 24.49%; padding: 0px 0px 0px 5px;">
                          <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Non-IFRS measures</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
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                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%; padding: 0px 5px 0px 0px;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 24.49%; padding: 0px 0px 0px 5px;">
                          <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Core operating income</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
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                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">1 185</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%; padding: 0px 5px 0px 0px;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 24.49%; padding: 0px 0px 0px 5px;">
                          <div style="text-indent: 16pt; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">As a % of sales</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">&#160;</div>
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                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-style: italic;">&#160;</div>
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                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">&#160;</div>
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                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">&#160;</div>
                        </td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-style: italic;">16.0</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">&#160;</div>
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                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%; padding: 0px 5px 0px 0px;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">&#160;</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 24.49%; padding: 0px 0px 0px 5px;">
                          <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Core net income</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">&#160;</div>
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                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">889</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%; padding: 0px 5px 0px 0px;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 24.49%; padding: 0px 0px 0px 5px;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
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                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%; padding: 0px 5px 0px 0px;">&#160;</td>
                      </tr>
                      <tr>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 24.49%; padding: 0px 0px 0px 5px;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%; padding: 0px 5px 0px 0px;">&#160;</td>
                      </tr>
                      <tr>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 24.49%; padding: 0px 0px 0px 5px;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%; padding: 0px 5px 0px 0px;">&#160;</td>
                      </tr>
                      <tr>
                        <td style="vertical-align: bottom; width: 24.49%; padding: 0px 0px 0px 5px;">
                          <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Total Company</div>
                        </td>
                        <td style="vertical-align: bottom; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Q4 2024</div>
                        </td>
                        <td style="vertical-align: bottom; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">Q4 2023</div>
                        </td>
                        <td colspan="3" style="vertical-align: bottom; width: 8%;">
                          <div style="line-height: 9.1pt; padding: 0px 40px 0px 0px; color: #000000; font-size: 8pt; text-align: center;">% change</div>
                        </td>
                        <td style="vertical-align: bottom; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">FY 2024</div>
                        </td>
                        <td style="vertical-align: bottom; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">FY 2023</div>
                        </td>
                        <td colspan="2" style="vertical-align: bottom; width: 8%;">
                          <div style="line-height: 9.1pt; padding: 0px 0px 0px 20px; color: #000000; font-size: 8pt; text-align: center;">% change</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 24.49%; padding: 0px 0px 0px 5px;">
                          <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">USD m</div>
                        </td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">USD m</div>
                        </td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">USD</div>
                        </td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">cc</div>
                        </td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">USD m</div>
                        </td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">USD m</div>
                        </td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">USD</div>
                        </td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 8%; padding: 0px 5px 0px 0px;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">cc</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 24.49%; padding: 0px 0px 0px 5px;">
                          <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Net income</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">2 820</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">8 480</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">11 939</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">14 854</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%; padding: 0px 5px 0px 0px;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 24.49%; padding: 0px 0px 0px 5px;">
                          <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">EPS (USD)</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">1.42</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">4.14</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">5.92</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">7.15</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%; padding: 0px 5px 0px 0px;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 24.49%; padding: 0px 0px 0px 5px;">
                          <div style="line-height: 9.1pt; padding: 5px 0px 0px; color: #000000; font-size: 8pt; font-weight: bold;">Cash flows from</div>
                          <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">operating activities</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">4 193</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">2 547</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">17 619</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">14 458</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%; padding: 0px 5px 0px 0px;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 24.49%; padding: 0px 0px 0px 5px;">
                          <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Non-IFRS measures</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%; padding: 0px 5px 0px 0px;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 24.49%; padding: 0px 0px 0px 5px;">
                          <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Free cash flow</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">3 635</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">2 141</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">16 253</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">13 179</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%; padding: 0px 5px 0px 0px;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 24.49%; padding: 0px 0px 0px 5px;">
                          <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Core net income</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">3 933</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">3 126</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">15 755</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">14 335</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%; padding: 0px 5px 0px 0px;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; width: 24.49%; padding: 0px 0px 0px 5px;">
                          <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Core EPS (USD)</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">1.98</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">1.53</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">7.81</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">6.90</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                        <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 8%; padding: 0px 5px 0px 0px;">
                          <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">nm</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 24.49%; padding: 0px 0px 0px 5px;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                      </tr>
                      <tr>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 24.49%; padding: 0px 0px 0px 5px;">
                          <div style="line-height: 9.1pt; color: #000000; font-size: 8pt;">nm= not meaningful</div>
                        </td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 4%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                        <td style="vertical-align: bottom; white-space: nowrap; width: 8%;">&#160;</td>
                      </tr>

                  </table>
                </div>
                <div style="text-align: justify; line-height: 14pt; color: #000000; font-family: Arial; font-size: 14pt; font-weight: bold;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> <br>
                  </sup></div>
                <div style="text-align: justify; line-height: 14pt; color: #000000; font-family: Arial; font-size: 14pt; font-weight: bold;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> </sup></div>
                <div style="text-align: justify; line-height: 8pt; color: #000000; font-family: Arial; font-size: 8pt;">1. Constant currencies (cc), core results and free cash flow are non-IFRS measures. An explanation of non-IFRS measures can be found on
                  page 47 of the Condensed Financial Report. Unless otherwise noted, all growth rates in this Release refer to same period in prior year.</div>
                <div style="text-align: justify; line-height: 8pt; color: #000000; font-family: Arial; font-size: 8pt;">2. As defined on page 35 of the Condensed Financial Report, Continuing operations include the retained business activities of Novartis,
                  comprising the innovative medicines business and the continuing corporate activities, and Discontinued operations include operational results from the Sandoz business.</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt; font-weight: bold;">Detailed financial results accompanying this press release are included in the Condensed Financial Report at the link below:</div>
                <div style="line-height: 12pt; color: #0000FF; font-family: Arial; font-size: 11pt;">
                  <div style="line-height: 12pt; color: #0000FF;"><u>https://ml-eu.globenewswire.com/resource/download/dca5e4e6-11a0-4e0c-b7b3-991f432e8407/</u></div>
                </div>
                <div style="line-height: 12pt; color: #0000FF; font-family: Arial; font-size: 11pt;"><u> <br>
                  </u></div>
                <div style="line-height: 12pt; color: #0000FF; font-family: Arial; font-size: 11pt;"><u> <br>
                  </u></div>
                <u> <br>
                </u><u> </u></div>
              <div><u><br>
                </u>
                <div style="line-height: 12pt; color: #0000FF; font-family: Arial; font-size: 11pt;"><u> <br>
                  </u></div>
                <div style="line-height: 12pt; color: #0000FF; font-family: Arial; font-size: 11pt;"><u> <br>
                  </u></div>
                <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 13pt; color: #000000; width: 100%;">

                    <tr>
                      <td style="width: 33.33%;">
                        <div>&#160;</div>
                      </td>
                      <td style="width: 33.33%; text-align: center; font-weight: normal; font-style: normal; font-size: 8pt;">
                        <div>9<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"></sup></div>
                      </td>
                      <td style="width: 33.33%;">
                        <div>&#160;</div>
                      </td>
                    </tr>

                </table>
                <div style="clear: both; margin-top: 13pt; margin-bottom: 13pt;" class="BRPFPageBreakArea">
                  <div class="BRPFPageFooter">
                    <div style="text-align: center; line-height: 9.1pt; font-family: Arial; font-size: 8pt;"></div>
                    <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
                    </div>
                  </div>
                  <div style="page-break-after: always;" class="BRPFPageBreak">
                    <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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                    <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
                    </div>
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                    </div>
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                <div style="line-height: 14pt;"><br style="line-height: 14pt;">
                </div>
                <div style="line-height: 12pt; font-family: Arial; font-size: 11pt; font-weight: bold;">Disclaimer</div>
                <div style="line-height: 11.15pt">&#160;</div>
                <div style="line-height: 11.15pt; font-family: Arial; font-size: 8pt;">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;may,&#8221; &#8220;can,&#8221; &#8220;will,&#8221; &#8220;continue,&#8221; &#8220;ongoing,&#8221; &#8220;grow,&#8221; &#8220;launch,&#8221; &#8220;expect,&#8221; &#8220;deliver,&#8221; &#8220;address,&#8221; &#8220;accelerate,&#8221; &#8220;deliver,&#8221; &#8220;scaling,&#8221; &#8220;guidance,&#8221; &#8220;outlook,&#8221; &#8220;long-term,&#8221; &#8220;priority,&#8221; &#8220;potential,&#8221; &#8220;momentum,&#8221; or
                  similar expressions, or by express or implied discussions regarding potential new products, potential new indications for existing products, potential product launches, or regarding potential future revenues from any such products; or
                  regarding results of ongoing clinical trials; or regarding potential future, pending or announced transactions; regarding potential future sales or earnings; or by discussions of strategy, plans, expectations or intentions, including
                  discussions regarding our continued investment into new R&amp;D capabilities and manufacturing; or regarding our capital structure. 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. There can be no guarantee that the investigational or approved products described in this press release will be submitted or
                  approved for sale or for any additional indications or labeling in any market, or at any particular time. Nor can there be any guarantee that such products will be commercially successful in the future. Neither can there be any guarantee
                  expected benefits or synergies from the transactions described in this press release will be achieved in the expected timeframe, or at all. In particular, our expectations could be affected by, among other things: uncertainties concerning
                  global healthcare cost containment, including ongoing government, payer and general public pricing and reimbursement pressures and requirements for increased pricing transparency; uncertainties regarding the success of key products,
                  commercial priorities and strategy; uncertainties in the research and development of new 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; uncertainties regarding our ability to realize the strategic benefits, operational
                  efficiencies or opportunities expected from our external business opportunities; uncertainties in the development or adoption of potentially transformational digital technologies, including artificial intelligence, and business models;
                  uncertainties surrounding the implementation of our new IT projects and systems; uncertainties regarding potential significant breaches of information security or disruptions of our information technology systems; uncertainties regarding
                  actual or potential legal proceedings, including regulatory actions or delays or government regulation related to the products and pipeline products described in this press release; safety, quality, data integrity, or manufacturing
                  issues; our performance on and ability to comply with environmental, social and governance measures and requirements; major geo- and socio-political developments, including impact of the war in certain parts of the world; uncertainties
                  regarding future global exchange rates; uncertainties regarding future demand for our products; and other risks and factors referred to in Novartis AG&#8217;s most recently filed Form 20-F and in subsequent reports filed with, or furnished to,
                  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 style="line-height: 11.15pt">&#160;</div>
                <div style="line-height: 11.15pt">&#160;</div>
                <div style="line-height: 11.15pt; font-family: Arial; font-size: 8pt;">All product names appearing in italics are trademarks owned by or licensed to Novartis.</div>
                <div style="line-height: 11.15pt; font-family: Arial; font-size: 8pt;"> <br>
                </div>
                <div style="line-height: 11.15pt; font-family: Arial; font-size: 8pt;"> <br>
                </div>
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                <div style="line-height: 12pt; font-family: Arial; font-size: 11pt; font-weight: bold;">About Novartis</div>
                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Novartis is an innovative medicines company. Every day, we work to reimagine medicine to improve and extend people&#8217;s lives so that patients, healthcare
                  professionals and societies are empowered in the face of serious disease. Our medicines reach more than 250 million people worldwide.</div>
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                <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Reimagine medicine with us: Visit us at https://www.novartis.com and connect with us on LinkedIn, Facebook, X/Twitter and Instagram.</div>
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                <div style="line-height: 12pt; font-family: Arial; font-size: 11pt;"><font style="color: #000000;">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 </font><font style="color: #0000FF;"><u>https://www.novartis.com/investors/event-calendar</u></font><font style="color: #000000;">.</font></div>
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                <div style="line-height: 12pt; font-family: Arial; font-size: 11pt;"><font style="color: #000000;">Detailed financial results accompanying this press release are included in the condensed financial report at the link below. Additional
                    information is provided on our business and pipeline of selected compounds in late-stage development. A copy of today's earnings call presentation can be found at </font><font style="color: #0000FF;"><u>https://www.novartis.com/investors/event-calendar</u></font><font style="color: #000000;">.</font></div>
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                <div style="line-height: 12pt; font-family: Arial; font-size: 11pt;"><font style="color: #000000;">Novartis issued its 2024 Annual Report today, and it is available at </font><font style="color: #0000FF;"><u>www.novartis.com.</u></font><font style="color: #000000;"> Novartis will also file its 2024 Annual Report on Form 20-F with the US Securities and Exchange Commission today, and will post this document on </font><font style="color: #0000FF;"><u>www.novartis.com.</u></font><font style="color: #000000;"> Novartis shareholders may receive a hard copy of either of these documents, each of which contains our complete audited financial statements, free of charge, upon request. Novartis also issued its Novartis in
                    Society Integrated Report 2024 today, and it is available at </font><font style="color: #0000FF;"><u>www.novartis.com.</u></font></div>
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                        <td style="width: 20.03%; padding: 0px;"><font style="font-size: 11pt; color: #000000;">March 7, 2025</font><br>
                          <font class="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 180pt">&#160; </font></td>
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                          <div style="line-height: 12pt; padding: 1px 0px; text-align: left;"><font style="font-size: 11pt; color: #000000;">First quarter 2025 results</font></div>
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<DESCRIPTION>99.2 CONDENSED FINANCIAL REPORT
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<a name="anchorId00314574"></a><p style="font-family:arial,helvetica,sans-serif; font-size:24pt; color:#000000; font-weight:bold;">Novartis Fourth Quarter and Full Year 2024  Condensed Financial Report &ndash; Supplementary Data</p>
<div style="padding-top:5px;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">INDEX
      <div style="float:right">Page</div></font></div>
<div style="padding-top:5px; border-top: 1px solid black; margin: 2px 0; "><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold; text-transform:uppercase;">COMPANY OPERATING PERFORMANCE REVIEW </font></div>
<div style="padding-top:5px;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; margin-left:20px;">Continuing operations
      <div style="float:right">4</div></font></div>
<div style="padding-top:5px;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; margin-left:20px;">Discontinued operations
      <div style="float:right">10</div></font></div>
<div style="padding-top:5px;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; margin-left:20px;">Total Company
      <div style="float:right">10</div></font></div>
<div style="padding-top:5px; border-top: 1px solid black; margin: 2px 0; "><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold; text-transform:uppercase;">COMPANY CASH FLOW AND BALANCE SHEET
      <div style="float:right">11</div></font></div>
<div style="padding-top:5px; border-top: 1px solid black; margin: 2px 0; "><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold; text-transform:uppercase;">INNOVATION REVIEW
      <div style="float:right">15</div></font></div>
<div style="padding-top:5px; border-top: 1px solid black; margin: 2px 0; "><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold; text-transform:uppercase;">CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</font></div>
<div style="padding-top:5px;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; margin-left:20px;">Consolidated income statements
      <div style="float:right">17</div></font></div>
<div style="padding-top:5px;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; margin-left:20px;">Consolidated statements of comprehensive income
      <div style="float:right">19</div></font></div>
<div style="padding-top:5px;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; margin-left:20px;">Consolidated balance sheets
      <div style="float:right">20</div></font></div>
<div style="padding-top:5px;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; margin-left:20px;">Consolidated statements of changes in equity
      <div style="float:right">21</div></font></div>
<div style="padding-top:5px;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; margin-left:20px;">Consolidated statements of cash flows
      <div style="float:right">23</div></font></div>
<div style="padding-top:5px;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; margin-left:20px;">Notes to condensed consolidated financial statements
      <div style="float:right">25</div></font></div>
<div style="padding-top:5px; border-top: 1px solid black; margin: 2px 0; "><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold; text-transform:uppercase;">SUPPLEMENTARY INFORMATION
      <div style="float:right">47</div></font></div>
<div style="padding-top:5px;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-style:italic;">CORE RESULTS - Reconciliation from IFRS<sup>&#xae;</sup> Accounting Standards results to non-IFRS measure core results
      <div style="float:right">49</div></font></div>
<div style="padding-top:5px;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; margin-left:20px;">Total Company
      <div style="float:right">50</div></font></div>
<div style="padding-top:5px;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; margin-left:20px;">Discontinued operations
      <div style="float:right">52</div></font></div>
<div style="padding-top:5px;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-style:italic;">FREE CASH FLOW
      <div style="float:right">53</div></font></div>
<div style="padding-top:5px;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-style:italic;">ADDITIONAL INFORMATION  </font></div>
<div style="padding-top:5px;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; margin-left:20px;">Net debt
      <div style="float:right">56</div></font></div>
<div style="padding-top:5px;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; margin-left:20px;">Share information
      <div style="float:right">56</div></font></div>
<div style="padding-top:5px;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; margin-left:20px;">Effects of currency fluctuations
      <div style="float:right">57</div></font></div>
<div style="padding-top:5px; border-top: 1px solid black; margin: 2px 0; "><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold; text-transform:uppercase;">DISCLAIMER
      <div style="float:right">58</div></font></div>
<div style="padding-top:5px; border-top: 1px solid black; margin: 2px 0; "><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold; text-transform:uppercase;">  </font></div>
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<a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">Company</font></div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Key figures</font></div><a name=""></a><div style="padding-bottom:15px; padding-top:30px; font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#0070f7; font-weight:bold;">Fourth quarter and full year</font></div>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"><br>(USD millions unless indicated otherwise)
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         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Q4 2024<br> USD m
            </div>
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         <td></td>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q4 2023<br> USD m
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         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> % change<br> USD
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         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> % change<br> cc<sup style="white-space: nowrap">  1</sup></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> FY 2024<br> USD m
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> FY 2023<br> USD m
            </div>
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         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> % change<br> USD
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> % change<br> cc<sup style="white-space: nowrap">  1</sup></div>
         </td>
         <td></td>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net sales from continuing operations</div>
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         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   13&nbsp;153</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   11&nbsp;423</div>
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         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   15</div>
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         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   16</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   50&nbsp;317</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   45&nbsp;440</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   11</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   12</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other revenues</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 405</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 353</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 15</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 15</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;405</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;220</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 15</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 15</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Cost of goods sold</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -3&nbsp;324</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -3&nbsp;022</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -10</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -10</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -12&nbsp;827</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -12&nbsp;472</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -3</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Gross profit from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   10&nbsp;234</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   8&nbsp;754</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   17</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   18</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   38&nbsp;895</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   34&nbsp;188</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   14</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   16</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Selling, general and administration</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -3&nbsp;501</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -3&nbsp;444</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -12&nbsp;566</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -12&nbsp;517</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Research and development</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2&nbsp;842</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -2&nbsp;567</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -11</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -11</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -10&nbsp;022</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -11&nbsp;371</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 12</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 12</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 298</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 450</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -34</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -33</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;175</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;772</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -34</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -34</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -659</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -611</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -8</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -9</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2&nbsp;938</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -2&nbsp;303</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -28</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -26</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Operating income from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   3&nbsp;530</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   2&nbsp;582</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   37</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   39</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   14&nbsp;544</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   9&nbsp;769</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   49</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   55</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">% of net sales</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> 26.8</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#666666;"> 22.6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> 28.9</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#666666;"> 21.5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Loss from associated companies</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 50</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 46</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -38</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -13</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -192</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -179</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Interest expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -275</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -217</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -27</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -28</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1&nbsp;006</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -855</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -18</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -21</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other financial income and expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 33</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 18</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 83</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -12</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 140</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 222</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -37</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -9</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Income before taxes from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   3&nbsp;285</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   2&nbsp;377</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   38</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   38</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   13&nbsp;640</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   9&nbsp;123</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   50</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   55</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Income taxes</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -465</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 261</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> nm</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> nm</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1&nbsp;701</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -551</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -209</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -221</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net income from  continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   2&nbsp;820</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   2&nbsp;638</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   7</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   11&nbsp;939</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   8&nbsp;572</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   39</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   45</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Net income from  discontinued operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   5&nbsp;842</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   nm</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   nm</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   6&nbsp;282</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   nm</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   nm</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 2&nbsp;820</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 8&nbsp;480</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> nm</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> nm</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 11&nbsp;939</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 14&nbsp;854</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> nm</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> nm</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Basic earnings per share  from continuing operations (USD)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   1.42</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   1.29</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   10</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   10</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   5.92</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   4.13</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   43</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   49</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Basic earnings per share  from discontinued operations (USD)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   2.85</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   nm</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   nm</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   3.02</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   nm</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   nm</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total basic earnings per share (USD)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 1.42</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 4.14</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> nm</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> nm</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 5.92</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 7.15</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> nm</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> nm</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net cash flows from operating  activities from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   4&nbsp;193</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   2&nbsp;547</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   65</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   17&nbsp;619</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   14&nbsp;220</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   24</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Non-IFRS measures<sup style="white-space: nowrap">&nbsp;1</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Free cash flow from  continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   3&nbsp;635</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   2&nbsp;141</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   70</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   16&nbsp;253</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   13&nbsp;160</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   24</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Core operating income  from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   4&nbsp;859</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   3&nbsp;821</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   27</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   29</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   19&nbsp;494</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   16&nbsp;372</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   19</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   22</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">% of net sales</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> 36.9</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#666666;"> 33.5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> 38.7</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#666666;"> 36.0</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Core net income from  continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   3&nbsp;933</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   3&nbsp;126</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   26</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   29</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   15&nbsp;755</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   13&nbsp;446</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   17</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   21</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Core basic earnings per share  from continuing operations (USD)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   1.98</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   1.53</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   29</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   33</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   7.81</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   6.47</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   21</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   24</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="18">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="18">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</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 47. Unless otherwise noted,
               all growth rates in this release refer to same period in prior-year.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="18">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">nm = not meaningful</div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-bottom:10px;"></div>
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   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">3</font><div style="padding-bottom:10px;"></div>
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   <div style="padding-bottom:30px;"></div>
</div><a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">Strategy</font></div><a name=""></a><div style="padding-bottom:15px; font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#0070f7; font-weight:bold;">Our focus</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">In 2023, Novartis completed its transformation into a &#x201c;pure-play&#x201d; innovative medicines
   business. We have a clear focus on four core therapeutic areas (cardiovascular-renal-metabolic,
   immunology, neuroscience and oncology), with multiple significant in-market and pipeline
   assets in each of these areas, that address high disease burden and have substantial
   growth potential. In addition to two established technology platforms (chemistry and
   biotherapeutics), three emerging platforms (gene &amp; cell therapy, radioligand therapy
   and xRNA) are being prioritized for continued investment into new R&amp;D capabilities and manufacturing scale. Geographically,
   we are focused on growing in our priority geographies &ndash; the US, China, Germany and Japan.
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;"></div><a name=""></a><div style="padding-bottom:15px; padding-top:15px; font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#0070f7; font-weight:bold;">Our priorities</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt;color:#000000;margin-bottom:0mm;margin-left:15px;margin-right:0mm;margin-top:0mm;text-indent:-15px;">1.  <b>Accelerate growth</b>: Renewed attention to deliver high-value medicines (NMEs) and focus on launch excellence,
   with a rich pipeline across our core therapeutic areas.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt;color:#000000;margin-bottom:0mm;margin-left:15px;margin-right:0mm;margin-top:0mm;text-indent:-15px;">2.  <b>Deliver returns</b>: Continuing to embed operational excellence and deliver improved financials. Novartis
   remains disciplined and shareholder-focused in our approach to capital allocation,
   with substantial cash generation and a strong capital structure supporting continued
   flexibility.
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt;color:#000000;margin-bottom:0mm;margin-left:15px;margin-right:0mm;margin-top:0mm;text-indent:-15px;">3.  <b>Strengthening foundations</b>: Unleashing the power of our people, scaling data science and technology and continuing
   to build trust with society.
</div><a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">Financials </font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">Following the September 15, 2023, shareholder approval of the spin-off of Sandoz,
   Novartis reported its consolidated financial statements as &#x201c;continuing operations&#x201d;
   and &#x201c;discontinued operations.&#x201d;
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Continuing operations include the retained business activities of Novartis, comprising
   the innovative medicines business and the continuing corporate activities. Discontinued
   operations include the Sandoz Division and selected portions of corporate activities
   attributable to Sandoz&#x2019;s business, as well as certain expenses related to the spin-off.

</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">While the commentary below focuses on continuing operations, we also provide information
   on discontinued operations.
</div><a name=""></a><div style="padding-bottom:15px; padding-top:15px; font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#0070f7; font-weight:bold;">Continuing operations</font></div><a name=""></a><div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Fourth quarter</font></div><a name=""></a><div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Net sales</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">Net sales were USD 13.2 billion (+15%, +16% cc), with volume contributing 15 percentage
   points to growth. Generic competition had a negative impact of 1 percentage point
   and pricing had a positive impact of 2 percentage points, benefiting from revenue
   deduction adjustments mainly in the US. Sales in the US were USD 6.0 billion (+26%)
   and in the rest of the world USD 7.2 billion (+7%, +9% cc).
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Sales growth was mainly driven by continued strong performance from <i>Entresto</i> (USD 2.2 billion, +33%, +34% cc), <i>Kesimpta</i> (USD 950 million, +48%, +49% cc), <i>Kisqali</i> (USD 902 million, +48%, +52% cc), <i>Cosentyx</i> (USD 1.6 billion, +22%, +24% cc), and <i>Leqvio</i> (USD 223 million, +81%, +83% cc), partly offset by erosion due to generic competition,
   mainly for <i>Lucentis</i> and <i>Gilenya</i>.
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">In the US (USD 6.0 billion, +26%), sales growth was mainly driven by <i>Entresto, Cosentyx, Kisqali</i> and <i>Kesimpta</i>. In Europe (USD 4.0 billion, +7%, +8% cc), sales growth was mainly driven by <i>Kesimpta, Entresto, Pluvicto</i>, <i>Kisqali, Leqvio</i>  and <i>Jakavi</i>, partly offset by increased generic competition for <i>Lucentis</i> and <i>Gilenya</i>. Sales in emerging growth markets were USD 2.9 billion (+6%, +9% cc), including USD
   0.8 billion of sales from China (+8%, +7% cc).
</div><a name=""></a><div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Operating income</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">Operating income was USD 3.5 billion (+37%, +39% cc), mainly driven by higher net
   sales, partly offset by higher R&amp;D investments. Operating income margin was 26.8%
   of net sales, increasing 4.2 percentage points (+4.5
</div>
<div style="padding-bottom:10px;"></div>
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   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">4</font><div style="padding-bottom:10px;"></div>
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   <div style="padding-bottom:30px;"></div>
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">percentage points in cc). Other revenue as a percentage of net sales was in line with
   the prior-year quarter. Cost of goods sold as a percentage of net sales decreased
   by 1.2 percentage points (cc). R&amp;D expenses as a percentage of net sales decreased
   by 0.9 percentage points (cc). SG&amp;A expenses as a percentage of net sales decreased
   by 3.6 percentage points (cc). Other income and expense as a percentage of net sales
   decreased the margin by 1.2 percentage points (cc).
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Core adjustments were USD 1.3 billion, mainly due to amortization, broadly in line
   with prior-year quarter.
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Core operating income was USD 4.9 billion (+27%, +29% cc), mainly driven by higher
   net sales, partly offset by higher R&amp;D investments. Core operating income margin was
   36.9% of net sales, increasing 3.4 percentage points (+3.7 percentage points cc).
   Core other revenue as a percentage of net sales was in line with the prior year quarter.
   Core cost of goods sold as a percentage of net sales increased by 0.4 percentage points
   (cc). Core R&amp;D expenses as a percentage of net sales decreased by 0.6 percentage points
   (cc). Core SG&amp;A expenses as a percentage of net sales decreased by 3.6 percentage
   points (cc). Core other income and expense as a percentage of net sales decreased
   the margin by 0.1 percentage points (cc).
</div><a name=""></a><div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Interest expense and other financial income/expense</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">Interest expense amounted to USD 275 million compared with USD 217 million in the
   prior year mainly due to an increase in financial debts. Other financial income and
   expense amounted to an income of USD 33 million, broadly in line with prior-year quarter.
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Core other financial income and expense amounted to an income of USD 83 million compared
   with USD 137 million in the prior year mainly due to higher currency losses.
</div><a name=""></a><div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Income taxes</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The tax rate in the fourth quarter was 14.2% compared with -11.0% in the prior year.
   The current year tax rate was impacted by various other one-off items that mostly
   offset and the effect of adjusting to the full year actual rate which was lower than
   previously estimated. The prior year rate was favorably impacted by the effect of
   tax benefits from the write-down in investments in subsidiaries, non-taxable net gains
   on unrealized foreign currency results, recognition of deferred tax assets on prior
   years tax loss carryforwards, other items including impact of tax rate changes, and
   the effect of adjusting to the full year actual rate which was lower than previously
   estimated. Excluding these impacts, the tax rate in the fourth quarter would have
   been 15.0% compared with 14.5% in the prior year. The increase from the prior year
   was mainly the result of a change in profit mix and the impact of a tax charge related
   to the expansion of products included in the Swiss patent box regime, and the impact
   of a Pillar Two tax charge in Switzerland.
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">The core tax rate (core taxes as a percentage of core income before tax) was 15.7%
   compared with 16.3% in the prior year. The current and prior year core tax rates were
   both impacted by the effect of adjusting to the full year actual rate, a tax charge
   related to the expansion of products included in the Swiss patent box regime, and
   the impact of a Pillar Two tax charge in Switzerland.
</div><a name=""></a><div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Net income, EPS and free cash flow </font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">Net income was USD 2.8 billion (+7%, +6% cc), mainly driven by higher operating income,
   partly offset by higher income taxes, mainly resulting from higher income before taxes
   in the current year and non-recurring tax benefits in the prior year. EPS was USD
   1.42 (+10%, +10% cc), benefiting from the lower weighted average number of shares
   outstanding.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Core net income was USD 3.9 billion (+26%, +29% cc), mainly due to higher core operating
   income. Core EPS was USD 1.98 (+29%, +33% cc), benefiting from the lower weighted
   average number of shares outstanding.
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Net cash flow from operating activities from continuing operations amounted to USD
   4.2 billion (+65% USD) compared to USD 2.5 billion in the prior-year quarter. Free
   cash flow from continuing operations amounted to USD 3.6 billion (+70% USD), compared
   with USD 2.1 billion in the prior-year quarter, driven by higher net cash flows from
   operating activities from continuing operations.
</div>
<div style="padding-bottom:10px;"></div>
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   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">5</font><div style="padding-bottom:10px;"></div>
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   <div style="padding-bottom:30px;"></div>
</div><a name=""></a><div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Full year </font></div><a name=""></a><div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Net sales</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">Net sales were USD 50.3 billion (+11%, +12% cc), with volume contributing 14 percentage
   points to growth. Generic competition had a negative impact of 2 percentage points
   and pricing was flat. Sales in the US were USD 21.1 billion (+18%) and in the rest
   of the world USD 29.2 billion (+6%, +8% cc).
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Sales growth was mainly driven by continued strong performance from <i>Entresto </i>(USD 7.8 billion, +30%, +31% cc), <i>Cosentyx </i>(USD 6.1 billion, +23%, +25% cc), <i>Kesimpta</i> (USD 3.2 billion, +49%, +49% cc), <i>Kisqali</i>  (USD 3.0 billion, +46%, +49% cc), <i>Pluvicto</i> (USD 1.4 billion, +42%, +42% cc) and <i>Leqvio</i> (USD 754 million, +112%, +114% cc),  partly offset by erosion due to generic competition,
   mainly for <i>Lucentis</i> and <i>Gilenya,</i> and the Xiidra<sup>&#xae;</sup> divestment.
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">In the US (USD 21.1 billion, +18%), sales growth was mainly driven by <i>Entresto, Cosentyx, Kesimpta, Kisqali, Pluvicto</i> and <i>Leqvio</i>, partly offset by the Xiidra<sup>&#xae;</sup> divestment and the impact of generic competition on <i>Gilenya</i>. In Europe (USD 15.6 billion, +4%, +5% cc), sales growth was mainly driven by <i>Entresto, Kesimpta, Pluvicto</i>  and <i>Kisqali,</i> partly offset by erosion due to generic competition, mainly for <i>Lucentis</i> and <i>Gilenya</i>. Sales in emerging growth markets were USD 12.9 billion (+11%, +15% cc), including
   USD 3.9 billion of sales from China (+19%, +21% cc).
</div><a name=""></a><div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Operating income</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">Operating income was USD 14.5 billion (+49%, +55% cc), mainly driven by higher net
   sales, lower impairments, amortization and restructuring charges, partly offset by
   prior-year one-time income from legal matters and higher R&amp;D investments. Operating
   income margin was 28.9% of net sales, increasing 7.4 percentage points (+8.1 percentage
   points in cc). Other revenue as a percentage of net sales increased by 0.1 percentage
   points (cc). Cost of goods sold as a percentage of net sales decreased by 2.3 percentage
   points (cc). R&amp;D expenses as a percentage of net sales decreased by 5.4 percentage
   points (cc). SG&amp;A expenses as a percentage of net sales decreased by 2.8 percentage
   points (cc). Other income and expense as a percentage of net sales decreased the margin
   by 2.5 percentage points (cc).
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Core adjustments were USD 5.0 billion, mainly due to amortization and impairments,
   compared with USD 6.6 billion in the prior year. Core adjustments decreased compared
   with the prior year, mainly due to lower impairments, amortization and restructuring
   charges, partly offset by prior-year one-time income from legal matters.
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Core operating income was USD 19.5 billion (+19%, +22% cc), mainly driven by higher
   net sales, partly offset by higher R&amp;D investments. Core operating income margin was
   38.7% of net sales, increasing 2.7 percentage points (+3.3 percentage points cc).
   Core other revenue as a percentage of net sales increased by 0.1 percentage points
   (cc). Core cost of goods sold as a percentage of net sales increased by 0.3 percentage
   points (cc). Core R&amp;D expenses as a percentage of net sales decreased by 0.7 percentage
   points (cc). Core SG&amp;A expenses as a percentage of net sales decreased by 2.6 percentage
   points (cc). Core other income and expense as a percentage of net sales increased
   the margin by 0.2 percentage points cc.
</div><a name=""></a><div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Interest expense and other financial income/expense</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">Interest expense amounted to USD 1.0 billion compared with USD 855 million in the
   prior year mainly due to an increase in financial debts. Other financial income and
   expense amounted to an income of USD 140 million, broadly in line with the prior year.
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Core other financial income and expense amounted to an income of USD 295 million compared
   with an income of USD 430 million in the prior year, mainly due to lower interest
   income and higher currency losses.
</div><a name=""></a><div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Income taxes </font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The tax rate was 12.5% compared with 6.0% in the prior year period. The current year
   tax rate was favorably impacted by the effect of changes in uncertain tax positions
   and other items that mostly offset. The prior year tax rate was favorably impacted
   by the effect of tax benefits from the write-down of investments in subsidiaries,
   non-taxable net gains on unrealized foreign currency results, recognition of deferred
   tax assets on prior years tax loss carryforwards, non-taxable income related to legal
   matters, and other items including impact of tax rate changes. Excluding these impacts,
   the current year tax rate would have been 15.0% compared with 15.3% in the prior year
   period. The decrease from the prior year was mainly the result of a change in profit
   mix, partially offset by the impact of a tax charge related to the expansion of products
   included in the Swiss patent box regime, and the impact of a Pillar Two tax charge
   in Switzerland.
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">6</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">The core tax rate (core taxes as a percentage of core income before tax) was 16.1%
   and 15.6% in the prior year. The increase from the prior year was mainly the result
   of a change in profit mix and the impact of a tax charge related to the expansion
   of products included in the Swiss patent box regime, and the impact of a Pillar Two
   tax charge in Switzerland.
</div><a name=""></a><div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Net income, EPS and free cash flow </font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">Net income was USD 11.9 billion (+39%, +45% cc), mainly driven by higher operating
   income, partly offset by higher income taxes, mainly resulting from higher income
   before taxes in the current year and non-recurring tax benefits in the prior year.
   EPS was USD 5.92 (+43%, +49% cc), benefiting from the lower weighted average number
   of shares outstanding.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Core net income was USD 15.8 billion (+17%, +21% cc), mainly due to higher core operating
   income. Core EPS was USD 7.81 (+21%, +24% cc), benefiting from the lower weighted
   average number of shares outstanding.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Net cash flow from operating activities from continuing operations amounted to USD
   17.6 billion (+24% USD) compared to USD 14.2 billion in 2023. Free cash flow from
   continuing operations amounted to USD 16.3 billion (+24% USD), compared with USD 13.2
   billion in 2023, driven by higher net cash flows from operating activities from continuing
   operations.
</div><a name=""></a><div style="padding-top:20px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#0070f7; font-weight:bold; text-transform:uppercase;">Product commentary (relating to Q4 performance)</font></div><a name=""></a><div style="padding-top:20px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#0070f7; font-weight:bold; text-transform:uppercase;">Cardiovascular, RENAL and METABOLIC</font></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Q4 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q4 2023</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> % change</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> % change</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> FY 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> FY 2023</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> % change</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> % change</div>
         </td>
         <td></td>
      </tr>
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> USD</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> cc</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> USD</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> cc</div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Cardiovascular, renal and metabolic</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Entresto</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;180</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;635</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 33</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 34</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7&nbsp;822</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 6&nbsp;035</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 30</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 31</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Leqvio</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 223</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 123</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 81</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 83</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 754</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 355</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 112</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 114</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total cardiovascular,  renal and metabolic</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   2&nbsp;403</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   1&nbsp;758</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   37</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   38</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   8&nbsp;576</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   6&nbsp;390</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   34</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   36</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
   </table>
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Entresto </i></b>(USD 2 180 million, +33%, +34% cc) sustained robust, demand-led growth. In the US
   and Europe, <i>Entresto</i> penetration grew through the continued adoption of guideline-directed medical therapy
   in heart failure. In China and Japan, <i>Entresto</i> volume growth was fueled by heart failure as well as hypertension. In the US, Novartis
   is in ANDA litigation with generic manufacturers. Novartis successfully appealed to
   uphold the validity of its combination patent covering <i>Entresto</i> and combinations of sacubitril and valsartan, which expires in 2025 (with pediatric
   exclusivity). Several generics have received final approval in the US. Novartis filed
   a lawsuit against FDA challenging the approval of one generic ANDA, which is now on
   appeal. Any US commercial launch of a generic <i>Entresto</i> product prior to the final outcome of the combination patent litigation, or ongoing
   litigations involving other patents or the FDA, may be at risk of later litigation
   developments.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Leqvio</i></b>  (USD 223 million, +81%, +83% cc) launch in the US and other markets is ongoing, delivering
   a medicine with effective and consistent LDL-C reduction in two maintenance doses
   per year. Focus remains on increased account and patient adoption and continuing medical
   education.<i> Leqvio</i> is registered in more than 105 countries world-wide and commercially available in
   78 countries. Novartis obtained global rights to develop, manufacture and commercialize
   <i>Leqvio</i> under a license and collaboration agreement with Alnylam Pharmaceuticals.
</div><a name=""></a><div style="padding-top:20px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#0070f7; font-weight:bold; text-transform:uppercase;">Immunology</font></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Q4 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q4 2023</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> % change</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> % change</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> FY 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> FY 2023</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> % change</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> % change</div>
         </td>
         <td></td>
      </tr>
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> USD</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> cc</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> USD</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> cc</div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Immunology</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Cosentyx</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;596</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;303</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 22</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 24</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6&nbsp;141</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 4&nbsp;980</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 23</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 25</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Xolair<sup style="white-space: nowrap">&nbsp;1</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 399</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 378</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 9</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;643</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;463</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 12</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 15</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Ilaris</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 413</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 376</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 10</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 11</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;509</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;355</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 11</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 14</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total immunology</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 2&nbsp;408</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 2&nbsp;057</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 17</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 19</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 9&nbsp;293</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 7&nbsp;798</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 19</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 21</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="18">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="18">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</sup> Net sales reflect <I>Xolair</I> sales for all indications.
            </div>
         </td>
      </tr>
   </table>
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Cosentyx</i></b> (USD 1 596 million, +22%, +24% cc) sales grew mainly in the US, Europe and emerging
   growth markets driven by strong demand from recent launches (including the HS indication
   and the IV formulation in the US)
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">7</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">and volume growth in core indications (PsO, PsA, AS and nr-axSpA). Since initial approval
   in 2015, <i>Cosentyx</i> has shown sustained efficacy and a robust safety profile, treating more than 1.7
   million patients across 8 indications.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Xolair </i></b>(USD 399 million, ex-US +6%, +9% cc) growth was driven mainly by emerging growth markets.&nbsp;Novartis co-promotes <i>Xolair</i> with Genentech in the US and shares a portion of revenue as operating&nbsp;income but does not record any US sales.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Ilaris</i></b> (USD 413 million, +10%, +11% cc) sales grew across all regions, led by the US. Contributors
   to growth include strong performance in the Periodic Fever Syndromes and Still&#x2019;s disease
   indications.
</div><a name=""></a><div style="padding-top:20px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#0070f7; font-weight:bold; text-transform:uppercase;">Neuroscience </font></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Q4 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q4 2023</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> % change</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> % change</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> FY 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> FY 2023</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> % change</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> % change</div>
         </td>
         <td></td>
      </tr>
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> USD</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> cc</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> USD</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> cc</div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Neuroscience</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Kesimpta</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 950</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 641</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 48</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 49</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3&nbsp;224</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2&nbsp;171</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 49</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 49</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Zolgensma</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 262</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 286</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -8</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;214</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;214</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Aimovig</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 80</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 69</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 16</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 16</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 312</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 266</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 17</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 18</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total neuroscience</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 1&nbsp;292</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 996</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 30</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 31</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 4&nbsp;750</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 3&nbsp;651</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 30</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 31</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
   </table>
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Kesimpta</i></b>  (USD 950 million, +48%, +49% cc) sales grew across all regions driven by increased
   demand and strong access. <i>Kesimpta</i>  is a high efficacy B-cell therapy with a favorable safety and tolerability profile
   and an&nbsp;at-home self-administration for a broad population of RMS patients. <i>Kesimpta</i>  is now approved in 90 countries&nbsp;with more than 130,000 patients treated.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Zolgensma</i></b>  (USD 262 million, -8%, -6% cc) continues to treat mainly incident patients in established
   markets. Sales decreased globally in the quarter, while full year 2024 sales were
   stable (USD) and grew slightly (cc) compared with prior year<i>. Zolgensma</i> is now approved in 58 countries with more&nbsp;than 4,500 patients treated globally through clinical trials, early access programs
   and in the commercial setting.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Aimovig </i></b>(USD 80 million, +16%, +16% cc) sales grew mainly in Europe driven by increased demand
   for migraine prevention. Novartis commercializes <i>Aimovig</i> ex-US and ex-Japan, while Amgen retains all rights in the US and in Japan.
</div><a name=""></a><div style="padding-top:20px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#0070f7; font-weight:bold; text-transform:uppercase;">ONCOLOGY</font></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Q4 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q4 2023</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> % change</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> % change</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> FY 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> FY 2023</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> % change</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> % change</div>
         </td>
         <td></td>
      </tr>
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> USD</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> cc</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> USD</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> cc</div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Oncology</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Kisqali</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 902</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 610</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 48</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 52</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3&nbsp;033</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2&nbsp;080</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 46</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 49</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Promacta/Revolade</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 583</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 563</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 4</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;216</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2&nbsp;269</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"><I>Tafinlar</I> + <I>Mekinist</I><sup style="white-space: nowrap">&nbsp;1</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 527</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 486</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 8</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 10</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;058</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;922</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 9</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Jakavi</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 487</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 444</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 10</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 13</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;936</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;720</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 13</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 15</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Tasigna</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 411</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 446</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -8</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;671</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;848</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -10</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -8</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Pluvicto</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 351</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 273</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 29</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 28</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;392</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 980</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 42</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 42</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Lutathera</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 190</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 147</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 29</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 30</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 724</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 605</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 20</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 20</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Scemblix</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 207</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 125</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 66</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 66</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 689</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 413</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 67</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 68</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Piqray/Vijoice</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 109</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 131</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -17</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -16</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 449</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 505</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -11</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -11</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Kymriah</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 108</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 120</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -10</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -10</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 443</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 508</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -13</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -12</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Fabhalta<sup style="white-space: nowrap">&nbsp;2</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 57</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> nm</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> nm</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 129</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> nm</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> nm</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total oncology</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 3&nbsp;932</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 3&nbsp;346</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 18</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 19</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 14&nbsp;740</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 12&nbsp;851</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 15</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 16</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="18">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="18">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</sup> Majority of sales for <I>Mekinist</I> and <I>Tafinlar</I> are combination, but both
               can be used as monotherapy.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="18">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;2&nbsp;</sup> Net sales from continuing operations reflect <I>Fabhalta</I> sales for all indications.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="18">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">nm = not meaningful</div>
         </td>
      </tr>
   </table>
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Kisqali</i></b>  (USD 902 million, +48%, +52% cc) sales grew strongly across all regions, including
   +66% cc growth in the US with strong momentum from the recently launched early breast
   cancer (eBC) indication. <i>Kisqali</i>  performance reflects increasing recognition of the consistently demonstrated overall
   survival benefit across all Ph3 clinical trials in HR+/HER2- metastatic breast cancer
   (mBC), as well as Category 1 preferred NCCN guidelines recommendation and highest
   ESMO-MCBS scores in both metastatic and eBC indications.  <i>Kisqali</i> US eBC launch has shown significant early uptake in use with the broad patient population
   in line with label, and it is now also approved in the EU. Novartis is in US ANDA
   litigation with generic manufacturers.
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">8</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Promacta/Revolade</i></b> (USD 583 million, +4%, +5% cc) sales grew despite discontinued promotion in most
   markets.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Tafinlar + Mekinist</i></b> (USD 527 million, +8%, +10% cc) sales grew mainly in the US, Japan and emerging growth
   markets, driven by demand in BRAF+ adjuvant melanoma, NSCLC, pediatric low-grade glioma,
   and tumor agnostic indications, while maintaining demand in the highly competitive
   BRAF+ metastatic melanoma market.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Jakavi</i></b>  (USD 487 million, +10%, +13% cc) sales grew across all regions driven by strong demand
   in all indications. Incyte retains all rights to ruxolitinib (Jakafi<sup>&#xae;</sup>) in the US.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Tasigna</i></b> (USD 411 million, -8%, -6% cc) sales declined across all regions due to lower demand
   and increasing competition.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Pluvicto</i></b>  (USD 351 million, +29%, +28% cc) sales grew in Europe and in the US. <i>Pluvicto</i> is the only radioligand therapy approved by the FDA for the treatment of adult patients
   with progressive, PSMA-positive metastatic castration-resistant prostate cancer, who
   have already been treated with other anti-cancer treatments (ARPI and taxane-based
   chemotherapy). <i>Pluvicto</i> is now on the market in several ex-US countries. Novartis is in patent litigation
   with a manufacturer developing a radiopharmaceutical to treat PSMA-positive prostate
   cancer.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Lutathera</i></b>  (USD 190 million, +29%, +30% cc) <i>s</i>ales grew across all regions due to increased demand, and earlier line adoption (within
   indication) in the US and Japan. Novartis is in patent litigation with manufacturers
   having FDA applications referencing <i>Lutathera</i>.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Scemblix</i></b>  (USD 207 million, +66%, +66% cc) sales grew across all regions, demonstrating continued
   high unmet need for effective and tolerable treatment options for adult CML patients
   previously treated with two or more tyrosine kinase inhibitors, as well as a steady
   influx of early-line patients in the US following recent indication expansion.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Piqray/Vijoice</i></b>  (USD 109 million, -17%, -16% cc) sales declined mainly in the US due to increased
   competition.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Kymriah </i></b>(USD 108 million, -10%, -10% cc) declined ex-US, partly offset by strong performance
   in pediatric and young adult patients up to 25 years of age with B-cell acute lymphoblastic
   leukemia (pALL) in the US, and follicular lymphoma indication uptake ex-US.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Fabhalta</i></b>  (USD 57 million) launch continues with a modest ramp in PNH globally and in IgAN in
   the US.
</div><a name=""></a><div style="padding-top:20px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#0070f7; font-weight:bold; text-transform:uppercase;">Established BRANDS</font></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Q4 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q4 2023</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> % change</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> % change</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> FY 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> FY 2023</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> % change</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> % change</div>
         </td>
         <td></td>
      </tr>
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> USD</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> cc</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> USD</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> cc</div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Established brands</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"><I>Sandostatin</I> Group</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 306</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 316</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -3</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;279</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;314</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -3</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Lucentis</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 210</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 301</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -30</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -29</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;044</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;475</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -29</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -28</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"><I>Exforge</I> Group</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 159</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 156</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 8</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 703</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 713</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"><I>Galvus</I> Group</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 144</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 153</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 602</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 692</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -13</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -6</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"><I>Diovan</I> Group</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 140</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 147</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 590</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 613</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -4</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Gilenya</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 109</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 154</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -29</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -26</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 552</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 925</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -40</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -39</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Contract manufacturing</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 323</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 302</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 8</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;152</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;490</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -23</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -22</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;727</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;737</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7&nbsp;036</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 7&nbsp;528</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -7</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -7</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total established brands</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 3&nbsp;118</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 3&nbsp;266</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 12&nbsp;958</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 14&nbsp;750</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -12</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -11</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
   </table>
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Sandostatin</i></b>  <b>Group </b>(USD 306 million, -3%, -1% cc) sales declined slightly, primarily in the US due to
   generics entry.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Lucentis </i></b>(USD 210 million, ex-US -30%, -29% cc) sales declined in Europe, emerging growth markets
   and Japan, mainly due to competition.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Exforge</i></b>  <b>Group </b>(USD 159 million, +2%, +8% cc) sales grew in emerging growth markets.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Galvus</i></b>  <b>Group </b>(USD 144 million, -6%, +2% cc) sales grew (cc) mainly in emerging growth markets,
   partly offset by a decline in Europe due to generic competition.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Diovan </i></b><b>Group</b> (USD 140 million, -5%, -2% cc) sales declined mainly in the US, China and Europe.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Gilenya</i></b>  (USD 109 million, -29%, -26% cc) sales declined due to competition, mainly in the
   US and Europe.
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">9</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name=""></a><div style="padding-bottom:15px; font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#0070f7; font-weight:bold;">Discontinued operations</font></div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">Discontinued operations include the Sandoz generic pharmaceuticals and biosimilars
   division, certain corporate activities attributable to Sandoz and certain other expenses
   related to the spin-off of the Sandoz business.
</div><a name=""></a><div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Fourth quarter</font></div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">As the Sandoz spin-off was completed on October 3, 2023, there were no operating results
   in the fourth quarter of 2024 and 2023 related to discontinued operations. In the
   fourth quarter of 2023, net income from discontinued operations amounted to USD 5.8
   billion, driven by the IFRS Accounting Standards non-cash, non-taxable, net gain on
   distribution of Sandoz Group AG to Novartis AG shareholders of USD 5.9 billion. For
   further details see Note 3 &#x201c;Significant acquisition of businesses and spin-off of
   Sandoz business&#x201d; and Note 11 &#x201c;Discontinued operations&#x201d; to the condensed consolidated
   financial statements.
</div><a name=""></a><div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Full year</font></div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">As the Sandoz spin-off was completed on October 3, 2023, there were no operating results
   in 2024 related to discontinued operations. In 2023, discontinued operations net sales
   were USD 7.4 billion, operating income amounted to USD 265 million and net income
   from discontinued operations was USD 6.3 billion driven by the IFRS Accounting Standards
   non-cash, non-taxable, net gain on distribution of Sandoz Group AG to Novartis AG
   shareholders, which amounted to USD 5.9 billion. For further details see Note 3 &#x201c;Significant
   acquisition of businesses and spin-off of Sandoz business&#x201d; and Note 11 &#x201c;Discontinued
   operations&#x201d; to the condensed consolidated financial statements.
</div><a name=""></a><div style="padding-bottom:15px; padding-top:15px; font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#0070f7; font-weight:bold;">Total Company </font></div><a name=""></a><div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Fourth quarter</font></div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">Total Company net income was USD 2.8 billion in 2024, compared with USD 8.5 billion
   in 2023 and basic EPS was USD 1.42 compared with USD 4.14 in the prior year quarter
   as the prior year quarter included the IFRS Accounting Standards non-cash, non-taxable,
   net gain on distribution of Sandoz Group AG to Novartis AG shareholders, which amounted
   to USD 5.9 billion. Net cash flows from operating activities for total Company amounted
   to USD 4.2 billion and free cash flow amounted to USD 3.6 billion.
</div><a name=""></a><div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Full year</font></div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">Total Company net income was USD 11.9 billion in 2024, compared with USD 14.9 billion
   in 2023 and basic EPS was USD 5.92 compared with USD 7.15 in the prior year as the
   prior year included the IFRS Accounting Standards non-cash, non-taxable, net gain
   on distribution of Sandoz Group AG to Novartis AG shareholders, which amounted to
   USD 5.9 billion. Net cash flows from operating activities for total Company amounted
   to USD 17.6 billion and free cash flow amounted to USD 16.3 billion.
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">10</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name=""></a><div style="padding-top:10px;  padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:18pt; color:#000000; font-weight:bold;">Company Cash Flow and Balance Sheet</font></div><a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">Cash flow</font></div><a name=""></a><div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Fourth quarter</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">Net cash flows from operating activities from continuing operations amounted to USD
   4.2 billion, compared with USD 2.5 billion in the prior-year quarter. This increase
   was mainly driven by higher net income from continuing operations, adjusted for non-cash
   items and other adjustments, including divestment gains, favorable changes in working
   capital, and lower income taxes paid, mainly due to the timing of income tax payments.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Net cash outflows used in investing activities from continuing operations amounted
   to USD 3.0 billion, compared with USD 1.0 billion in the prior-year quarter.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">In the current-year quarter, net cash outflows used in investing activities from continuing
   operations were mainly driven by USD 1.7 billion for net purchases of marketable securities,
   commodities and time deposits; USD 0.6 billion for purchases of intangible assets;
   and USD 0.6 billion for purchases of property, plant and equipment. In addition, net
   cash outflows for acquisitions and divestments of businesses amounted to USD 0.3 billion,
   including the acquisition of Kate Therapeutics for USD 0.4 billion.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">In the prior-year quarter, net cash outflows used in investing activities from continuing
   operations of USD 1.0 billion were mainly driven by USD 0.5 billion for net purchases
   of marketable securities, commodities and time deposits; USD 0.4 billion for purchases
   of property, plant and equipment; and USD 0.4 billion for purchases of intangible
   assets. These cash outflows were partly offset by cash inflows of USD 0.2 billion
   from the sale of property, plant and equipment (including proceeds from the sale and
   leaseback of real estate); and USD 0.1 billion from the sale of financial assets.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">In the prior-year quarter, net cash outflows used in investing activities from discontinued
   operations amounted to USD 0.7 billion (Q4 2024: nil).
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Net cash outflows used in financing activities from continuing operations amounted
   to USD 3.0 billion, compared with USD 0.5 billion in the prior-year quarter.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">In the current-year quarter, the cash outflows used in financing activities from continuing
   operations were mainly driven by USD 2.8 billion for treasury share transactions,
   and USD 0.2 billion cash outflows for purchased MorphoSys shares, in connection with
   the &#x201c;squeeze-out&#x201d; of the remaining minority shareholders.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">In the prior-year quarter, net cash outflows used in financing activities from continuing
   operations of USD 0.5 billion were mainly driven by USD 1.3 billion for net treasury
   share transactions; and USD 0.1 billion payments of lease liabilities. These cash
   outflows were partly offset by cash inflows of USD 0.7 billion from the net increase
   in current financial debts and other net financing cash inflows of USD 0.2 billion.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">In the prior-year quarter, net cash outflows from financing activities from discontinued
   operations amounted to USD 0.1 billion (Q4 2024: nil).
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Free cash flow from continuing operations amounted to USD 3.6 billion (+70% USD),
   compared with USD 2.1 billion in the prior-year quarter, driven by higher net cash
   flows from operating activities from continuing operations.
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">For the total Company, net cash flows from operating activities amounted to USD 4.2
   billion, compared with USD 2.5 billion in the prior-year quarter, and free cash flow
   amounted to USD 3.6 billion, compared with USD 2.1 billion in the prior-year quarter.
</div><a name=""></a><div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Full year</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">Net cash flows from operating activities from continuing operations amounted to USD
   17.6 billion, compared with USD 14.2 billion in 2023. This increase was mainly driven
   by higher net income from continuing operations, adjusted for non-cash items and other
   adjustments, including divestment gains, lower payments out of provisions and lower
   income taxes paid, mainly due to the timing of income tax payments, partly offset
   by unfavorable changes in working capital and higher net interest paid and other financial
   payments.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">In 2023, net cash flows from operating activities from discontinued operations amounted
   to USD 0.2 billion (2024: nil).
</div>
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</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Net cash outflows used in investing activities from continuing operations amounted
   to USD 7.5 billion, compared with USD 6.7 billion net cash inflows in 2023.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">In the current year, net cash outflows used in investing activities from continuing
   operations were mainly driven by USD 3.9 billion net cash outflows for acquisitions
   and divestments of businesses, including the acquisition of Kate Therapeutics for
   USD 0.4 billion; the acquisition of Mariana Oncology for USD 1.0 billion (USD 1.04
   billion, net of cash acquired of USD 80 million); and the acquisition of MorphoSys
   for USD 2.3 billion (USD 2.5 billion, net of cash acquired of USD 0.2 billion). In
   addition, the cash outflows for purchases of intangible assets amounted to USD 2.4
   billion; purchases of property, plant and equipment amounted to USD 1.4 billion; purchases
   of financial assets amounted to USD 0.2 billion and net purchases of marketable securities,
   commodities and time deposits amounted to USD 0.7 billion. These cash outflows were
   partly offset by cash inflows of USD 1.0 billion from the sale of financial assets
   (including USD 0.7 billion proceeds from the sale of Sandoz Group AG shares by consolidated
   foundations); and by USD 0.2 billion from the sale of intangible assets and property,
   plant and equipment.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">In 2023, net cash inflows from investing activities from continuing operations of
   USD 6.7 billion were driven by the net proceeds of USD 10.6 billion from the sale
   of marketable securities, commodities and time deposits; USD 2.0 billion from the
   sale of intangible assets (including USD 1.75 billion cash proceeds from the divestment
   of the &#x2018;front of eye&#x2019; ophthalmology assets to Bausch + Lomb); USD 0.3 billion from
   the sale of financial assets; and USD 0.2 billion from the sale of property, plant
   and equipment (including proceeds from the sale and leaseback of real estate). These
   cash inflows were partly offset by cash outflows of USD 3.6 billion for acquisitions
   and divestments of businesses, net (including the acquisition of Chinook Therapeutics
   for USD 3.1 billion, net of cash acquired of USD 0.1 billion, and the acquisition
   of DTx for USD 0.5 billion, net of cash acquired of USD 0.1 billion); USD 1.7 billion
   for purchases of intangible assets; USD 1.1 billion for purchases of property, plant
   and equipment; and USD 0.1 billion for purchases of financial assets.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">In 2023, net cash outflows used in investing activities from discontinued operations
   amounted to USD 1.1 billion (2024: nil).
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Net cash outflows used in financing activities from continuing operations amounted
   to USD 11.7 billion, compared with USD 17.6 billion in 2023.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">In the current year, net cash outflows used in financing activities from continuing
   operations were mainly driven by USD 8.3 billion for net treasury share transactions;
   USD 7.6 billion for the dividend payment; the USD 2.15 billion repayment of a US dollar
   bond at maturity, and the USD 0.3 billion repayments of other current financial debts.
   Cash outflows for MorphoSys shares purchased outside the Offer amounted to USD 0.3
   billion, which included a USD 0.2 billion payment to the former remaining minority
   shareholders in connection with the &#x201c;squeeze-out.&#x201d; These cash outflows were partly
   offset by cash inflows from the issuance of bonds totaling USD 6.1 billion (Swiss
   franc denominated bonds with a notional amount of CHF 2.2 billion, equivalent to USD
   2.5 billion, and US dollar denominated bonds with a notional amount of USD 3.7 billion).
   The change in current financial debts resulted in net cash inflows of USD 1.0 billion.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">In 2023, net cash outflows used in financing activities from continuing operations
   of USD 17.6 billion were mainly driven by USD 8.6 billion for net treasury share transactions;
   USD 7.3 billion for the dividend payment; USD 2.2 billion for the repayment of two
   EUR denominated bonds (notional amounts of EUR 1.25 billion and of EUR 0.75 billion)
   at maturity. Payments of lease liabilities amounted to USD 0.3 billion. These cash
   outflows were partly offset by cash inflows of USD 0.5 billion from the net increase
   in current financial debts.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">In 2023, net cash inflows from financing activities from discontinued operations amounted
   to USD 3.3 billion (2024: nil).
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Free cash flow from continuing operations amounted to USD 16.3 billion (+24% USD),
   compared with USD 13.2 billion in 2023, driven by higher net cash flows from operating
   activities from continuing operations.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">For the total Company, net cash flows from operating activities amounted to USD 17.6
   billion, compared with USD 14.5 billion in 2023, and free cash flow amounted to USD
   16.3 billion, compared with USD 13.2 billion in 2023.
</div>
<div style="padding-bottom:10px;"></div>
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</div><a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">Balance sheet</font></div><a name=""></a><div style="padding-bottom:15px; font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#0070f7; font-weight:bold;">Assets</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;"><b>Total non-current assets </b>of USD 72.5 billion increased by USD 3.1 billion compared with December 31, 2023.

</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Intangible assets other than goodwill were broadly in line with December 31, 2023,
   mainly as the impact of the business acquisitions of Kate Therapeutics, Mariana Oncology,
   and MorphoSys and additions, were offset by amortization, impairments and unfavorable
   currency translation effects.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Goodwill increased by USD 1.4 billion mainly due to the impact of the business acquisitions
   of Kate Therapeutics, Mariana Oncology and MorphoSys, partially offset by an impairment
   and unfavorable currency translation effects.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Financial assets decreased by USD 0.6 billion mainly due to the sale of Sandoz Group
   AG shares by consolidated foundations.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Other non-current assets increased by USD 2.3 billion mainly due the increase of prepaid
   post-employment benefit. This increase is due to pension plans in Switzerland not
   being required to continue to apply the IFRS Standards limitation on recognition of
   fund surplus (the assets ceiling) as at December 31, 2024.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Property, plant and equipment, right-of-use assets, deferred tax assets and investments
   in associated companies were broadly in line with December 31, 2023.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b>Total current assets</b> of USD 29.7 billion decreased by USD 0.8 billion compared with December 31, 2023.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Cash and cash equivalents decreased by USD 1.9 billion mainly as cash generated through
   operating activities of USD 17.6 billion and net proceeds from changes in &#xfb01;nancial
   debts of USD 4.7 billion, were offset by the USD 7.6 billion dividend payment, USD
   8.3 billion for net purchases of treasury shares, USD 3.9 billion mainly for the business
   acquisitions of Kate Therapeutics, Mariana Oncology and MorphoSys, USD 3.6 billion
   for net purchases of tangible and intangible assets and other net cash outflows from
   investing and financing activities and currency effects of USD 0.8 billion.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Marketable securities, commodities, time deposits and derivative &#xfb01;nancial instruments
   increased by USD 1.0 billion. Trade receivables increased by USD 0.3 billion, mainly
   driven by the increase in net sales and other current assets increased by USD 0.4
   billion. Income tax receivables decreased by USD 0.3 billion. Inventories were broadly
   in line with December 31, 2023.
</div><a name=""></a><div style="padding-bottom:15px; padding-top:15px; font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#0070f7; font-weight:bold;">Liabilities</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;"><b>Total non-current liabilities</b> of USD 29.4 billion increased by USD 2.6 billion compared with December 31, 2023.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Non-current &#xfb01;nancial debts increased by USD 2.9 billion mainly due to the issuance
   of Swiss franc denominated bonds of USD 2.5 billion (notional amount of CHF 2.2 billion),
   the issuance of US dollar denominated bonds with a notional amount of USD 3.7 billion
   and &#xfb01;nancial debts acquired through the MorphoSys business acquisition of USD 0.6
   billion, partly offset by the reclassi&#xfb01;cation of USD 3.3 billion from non-current
   to current &#xfb01;nancial debts consisting of two US dollar denominated bonds with notional
   amount of USD 2.8 billion and a Swiss franc denominated bond of notional amount of
   CHF 0.5 billion all maturing in 2025.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Provisions and other non-current liabilities decreased by USD 0.4 billion. Non-current
   lease liabilities and deferred tax liabilities were broadly in line with December
   31, 2023.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b>Total current liabilities</b> of USD 28.7 billion increased by USD 2.3 billion compared with December 31, 2023.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Current &#xfb01;nancial debts and derivative &#xfb01;nancial instruments increased by USD 2.1 billion
   compared with December 31, 2023, mainly due to the issuance of commercial paper notes
   under the US commercial paper program and the reclassi&#xfb01;cation of USD 3.3 billion from
   non-current to current &#xfb01;nancial debts consisting of two US dollar denominated bonds
   with notional amount of USD 2.8 billion and a Swiss franc denominated bond of notional
   amount of CHF 0.5 billion all maturing in 2025, partly offset by the repayment of
   a US dollar bond at maturity of USD 2.15 billion.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Trade payables decreased by USD 0.4 billion. Provisions and other current liabilities
   increased by USD 0.9 billion mainly driven by the increase in provisions for deductions
   from revenue. Current income tax liabilities decreased by USD 0.3 billion. Current
   lease liabilities were broadly in line with December 31, 2023.
</div>
<div style="padding-bottom:10px;"></div>
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</div><a name=""></a><div style="padding-bottom:15px; padding-top:15px; font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#0070f7; font-weight:bold;">Equity</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The Company&#x2019;s equity decreased by USD 2.6 billion to USD 44.1 billion compared with
   December 31, 2023.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">This decrease was mainly driven by the net income of USD 11.9 billion, actuarial gains
   from defined benefit plans of USD 2.0 billion and favorable impact from equity-based
   compensation of USD 1.1 billion being more than offset by the purchase of treasury
   shares of USD 8.5 billion, the cash-dividend to Novartis AG shareholders of USD 7.6
   billion and unfavorable currency translation effects of USD 1.6 billion.
</div><a name=""></a><div style="padding-bottom:15px; padding-top:15px; font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#0070f7; font-weight:bold;">Net debt and debt/equity ratio</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The Company&#x2019;s liquidity amounted to USD 13.5 billion as at December 31, 2024, compared
   with USD 14.4 billion as at December 31, 2023. Total non-current and current &#xfb01;nancial
   debts, including derivatives, amounted to USD 29.6 billion as at December 31, 2024,
   compared with USD 24.6 billion as at December 31, 2023.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">The debt/equity ratio increased to 0.67:1 as at December 31, 2024, compared with 0.53:1
   as at December 31, 2023. The net debt increased to USD 16.1 billion as at December
   31, 2024, compared with USD 10.2 billion as at December 31, 2023.
</div>
<div style="padding-bottom:10px;"></div>
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   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">14</font><div style="padding-bottom:10px;"></div>
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</div><a name=""></a><div style="padding-top:10px;  padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:18pt; color:#000000; font-weight:bold;">Innovation Review</font></div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">Novartis continues to focus its R&amp;D portfolio prioritizing high value medicines with
   transformative potential for patients. We now focus on ~100 projects in clinical development.
</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Selected Innovative Medicines approvals in Q4</font></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="top">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"><br>Product
            </div>
         </td>
         <td></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Active ingredient/<br> Descriptor
            </div>
         </td>
         <td></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> <br> Indication
            </div>
         </td>
         <td></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> <br> Region
            </div>
         </td>
         <td></td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
      </tr>
      <tr>
         <td colspan="9" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td width="6.75%" height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Kisqali</div>
         </td>
         <td align="left" width="1%"></td>
         <td align="left" width="27%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> ribociclib<br>  <br>  <br>
            </div>
         </td>
         <td align="left" width="1%"></td>
         <td align="left" width="27%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Hormone receptor-positive / <br>  human epidermal growth factor <br>  receptor 2-negative early <br>  breast cancer (adjuvant)
            </div>
         </td>
         <td align="left" width="1%"></td>
         <td align="left" width="27%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> EU<br>  <br>  <br>
            </div>
         </td>
         <td align="left" width="1%"></td>
         <td align="left" width="9%">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
      </tr>
      <tr>
         <td colspan="9" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Scemblix</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> asciminib</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1L chronic myeloid leukemia</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> US</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
      </tr>
      <tr>
         <td colspan="9" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
   </table>
</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Selected Innovative Medicines projects awaiting regulatory decisions</font></div>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
         </td>
         <td></td>
         <td align="center" colspan="5" height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> Completed submissions</div>
         </td>
         <td></td>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;">Product</div>
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         <td></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Indication</div>
         </td>
         <td></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> US</div>
         </td>
         <td></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> EU</div>
         </td>
         <td></td>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Japan</div>
         </td>
         <td></td>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> News update</div>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Scemblix</div>
         </td>
         <td align="left" width="1%"></td>
         <td align="left" width="21%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1L chronic myeloid leukemia</div>
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         <td align="left" width="1%"></td>
         <td align="left" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Q2 2024</div>
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         <td align="left" width="1%"></td>
         <td align="left" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
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         <td align="left" width="1%"></td>
         <td align="left" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Q3 2024</div>
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         <td align="left" width="1%"></td>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> &#x2013; US approval</div>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Fabhalta</div>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> C3G<br>
            </div>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Q4 2024<br>
            </div>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Q3 2024<br>
            </div>
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         <td align="left"></td>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Q3 2024<br>
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> &#x2013; US submission, FDA priority review granted<br>  &#x2013; FDA confirmed no Advisory Committee meeting
            </div>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Atrasentan</div>
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         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> IgA nephropathy</div>
         </td>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Q2 2024</div>
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         <td align="left"></td>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> &#x2013; China submission completed in Q4 2024</div>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Pluvicto</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Metastatic castration-resistant <br>  prostate cancer, pre-taxane<br>
            </div>
         </td>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Q3 2024<br>  <br>
            </div>
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         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> <br>  <br>
            </div>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> <br>  <br>
            </div>
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         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> &#x2013; PSMAfore final overall survival (OS) analysis <br>  demonstrated OS HR&lt;1.0 in ITT population <br>  unadjusted for cross-over
            </div>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Lutathera</div>
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         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Gastroenteropancreatic <br>  neuroendocrine tumors, <br>  1L in G2/3 tumors
            </div>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> <br>  <br>
            </div>
         </td>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Q2 2024<br>  <br>
            </div>
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         <td align="left"></td>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> <br>  <br>
            </div>
         </td>
         <td align="left"></td>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> <br>  <br>
            </div>
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         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Beovu</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Diabetic retinopathy<br>
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> <br>
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> <br>
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Q4 2024<br>
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> &#x2013; Japan and china submissions completed <br>  in Q4 2024
            </div>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Coartem</div>
         </td>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Malaria (&lt;5kg patients)<br>  <br>
            </div>
         </td>
         <td align="left"></td>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> <br>  <br>
            </div>
         </td>
         <td align="left"></td>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> <br>  <br>
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> <br>  <br>
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> &#x2013; Submission using MAGHP procedure <br>  in Switzerland to facilitate rapid approvals in <br>  developing countries
            </div>
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   </table>
</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Selected Innovative Medicines pipeline projects</font></div>
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   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
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            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;">Compound/<br>product
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            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Potential indication/<br> Disease area
            </div>
         </td>
         <td></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> First planned<br> submissions
            </div>
         </td>
         <td></td>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Current <br> Phase
            </div>
         </td>
         <td></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> <br> News update
            </div>
         </td>
         <td></td>
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      <tr valign="top" bgcolor="#ffffff">
         <td width="6%" height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"><I>Aimovig</I></div>
         </td>
         <td align="left" width="1%"></td>
         <td align="left" width="24%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Migraine, pediatrics</div>
         </td>
         <td align="left" width="1%"></td>
         <td align="left" width="8%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> &#x2265;2028</div>
         </td>
         <td align="left" width="1%"></td>
         <td align="left" width="8%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3</div>
         </td>
         <td align="left" width="1%"></td>
         <td align="left" width="24%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="left" width="1%"></td>
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         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">CFZ533<br> (iscalimab)
            </div>
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         <td align="left"></td>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Sj&#xf6;gren's syndrome<br>
            </div>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> <br>
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2<br>
            </div>
         </td>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> &#x2013; Program discontinued based <br>  on benefit-risk assessment
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      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"><I>Cosentyx</I></div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Giant cell arteritis</div>
         </td>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2025</div>
         </td>
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         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3</div>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
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         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"></div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Polymyalgia rheumatica</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2026</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="left"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">DAK539<br> (pelabresib)
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Myelofibrosis<br>  <br>  <br>  <br>  <br>
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> <br>  <br>  <br>  <br>  <br>
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3<br>  <br>  <br>  <br>  <br>
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> &#x2013; MorphoSys aquisition<br>  &#x2013; Based on Novartis review of 48-week data<br>  from the Ph3 MANIFEST-2 study, longer<br>  follow-up time is&nbsp;needed to determine, in<br>  consultation with Health Authorities, the<br>  regulatory path for pelabresib in myelofibrosis
            </div>
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      </tr>
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         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">FUB523<br> (zigakibart)
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> IgA nephropathy<br>
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2027<br>
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3<br>
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> <br>
            </div>
         </td>
         <td align="left"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">KAE609 <br> (cipargamin)
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Malaria, uncomplicated<br>
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> &#x2265;2028<br>
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2<br>
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td align="left"></td>
      </tr>
      <tr>
         <td style="border-bottom: solid #ffffff 1px;height:1px;"></td>
         <td style="border-bottom: solid #ffffff 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"></div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Malaria, severe</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> &#x2265;2028</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="left"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">KLU156 <br> (ganaplacide <br> + lumefantrine)
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Malaria, uncomplicated<br>  <br>
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2026<br>  <br>
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3<br>  <br>
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> &#x2013; FDA Orphan Drug designation <br>  &#x2013; FDA Fast Track designation<br>
            </div>
         </td>
         <td align="left"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"><I>Leqvio</I></div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Secondary prevention of cardiovascular <br>  events in patients with elevated levels of LDL-C
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2027<br>
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3<br>
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> <br>
            </div>
         </td>
         <td align="left"></td>
      </tr>
      <tr>
         <td style="border-bottom: solid #ffffff 1px;height:1px;"></td>
         <td style="border-bottom: solid #ffffff 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"></div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Primary prevention CVRR</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> &#x2265;2028</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="left"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">LNA043</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Osteoarthritis</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> &#x2013; Project discontinued following Ph2 readout</div>
         </td>
         <td align="left"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
   </table>
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">15</font><div style="padding-bottom:10px;"></div>
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</div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="top">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;">Compound/<br>product
            </div>
         </td>
         <td></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Potential indication/<br> Disease area
            </div>
         </td>
         <td></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> First planned<br> submissions
            </div>
         </td>
         <td></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Current <br> Phase
            </div>
         </td>
         <td></td>
         <td align="left">
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         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td width="6%" height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">LNP023 <br> (iptacopan)
            </div>
         </td>
         <td align="left" width="1%"></td>
         <td align="left" width="24%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> IC-MPGN<br>
            </div>
         </td>
         <td align="left" width="1%"></td>
         <td align="left" width="8%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> &#x2265;2028<br>
            </div>
         </td>
         <td align="left" width="1%"></td>
         <td align="left" width="8%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3<br>
            </div>
         </td>
         <td align="left" width="1%"></td>
         <td align="left" width="24%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> <br>
            </div>
         </td>
         <td align="left" width="1%"></td>
      </tr>
      <tr>
         <td style="border-bottom: solid #ffffff 1px;height:1px;"></td>
         <td style="border-bottom: solid #ffffff 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td width="6%" height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"></div>
         </td>
         <td align="left" width="1%"></td>
         <td align="left" width="24%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Atypical haemolytic uraemic syndrome</div>
         </td>
         <td align="left" width="1%"></td>
         <td align="left" width="8%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> &#x2265;2028</div>
         </td>
         <td align="left" width="1%"></td>
         <td align="left" width="8%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3</div>
         </td>
         <td align="left" width="1%"></td>
         <td align="left" width="24%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="left" width="1%"></td>
      </tr>
      <tr>
         <td style="border-bottom: solid #ffffff 1px;height:1px;"></td>
         <td style="border-bottom: solid #ffffff 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td width="6%" height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"></div>
         </td>
         <td align="left" width="1%"></td>
         <td align="left" width="24%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Myasthenia gravis</div>
         </td>
         <td align="left" width="1%"></td>
         <td align="left" width="8%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2027</div>
         </td>
         <td align="left" width="1%"></td>
         <td align="left" width="8%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3</div>
         </td>
         <td align="left" width="1%"></td>
         <td align="left" width="24%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="left" width="1%"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">LOU064 <br> (remibrutinib)
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Chronic spontaneous urticaria<br>
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2025<br>
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
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            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> <br>
            </div>
         </td>
         <td align="left"></td>
      </tr>
      <tr>
         <td style="border-bottom: solid #ffffff 1px;height:1px;"></td>
         <td style="border-bottom: solid #ffffff 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"></div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> CINDU</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2026</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="left"></td>
      </tr>
      <tr>
         <td style="border-bottom: solid #ffffff 1px;height:1px;"></td>
         <td style="border-bottom: solid #ffffff 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"></div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Multiple sclerosis</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2027</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="left"></td>
      </tr>
      <tr>
         <td style="border-bottom: solid #ffffff 1px;height:1px;"></td>
         <td style="border-bottom: solid #ffffff 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"></div>
         </td>
         <td align="left"></td>
         <td align="left">
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         </td>
         <td align="left"></td>
         <td align="left">
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         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="left"></td>
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      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"><sup>177</sup>Lu-NeoB</div>
         </td>
         <td align="left"></td>
         <td align="left">
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         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> &#x2265;2028</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1</div>
         </td>
         <td align="left"></td>
         <td align="left">
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         </td>
         <td align="left"></td>
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      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
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         </td>
         <td align="left"></td>
         <td align="left">
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         </td>
         <td align="left"></td>
         <td align="left">
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         <td align="left">
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         <td align="left">
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         <td align="left">
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         </td>
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         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
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         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
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         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> &#x2013; Trial started</div>
         </td>
         <td align="left"></td>
      </tr>
      <tr>
         <td style="border-bottom: solid #ffffff 1px;height:1px;"></td>
         <td style="border-bottom: solid #ffffff 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"></div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Myositis</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> &#x2265;2028</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> &#x2013; Trial started</div>
         </td>
         <td align="left"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
   </table>
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">16</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div>


<a name="anchorId00214652"></a><p style="font-family:arial,helvetica,sans-serif; font-size:24pt; color:#000000; font-weight:bold;">Condensed Consolidated Financial&nbsp;Statements</p><a name="anchorId00214655"></a><div><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Consolidated income statements</font></div>
<div style="padding-top:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>Fourth quarter</b> (unaudited)
</div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">(USD millions unless indicated otherwise)</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> Note</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Q4 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q4 2023</div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net sales from continuing operations</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="11%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 9</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="11%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 13&nbsp;153</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="11%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 11&nbsp;423</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other revenues</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 9</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 405</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 353</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Cost of goods sold</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -3&nbsp;324</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -3&nbsp;022</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Gross profit from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 10&nbsp;234</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 8&nbsp;754</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Selling, general and administration</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -3&nbsp;501</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -3&nbsp;444</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Research and development</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2&nbsp;842</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -2&nbsp;567</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 298</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 450</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -659</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -611</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Operating income from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 3&nbsp;530</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 2&nbsp;582</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Loss from associated companies</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -6</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Interest expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -275</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -217</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other financial income and expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 33</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 18</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Income before taxes from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 3&nbsp;285</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 2&nbsp;377</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Income taxes</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -465</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 261</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net income from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 2&nbsp;820</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 2&nbsp;638</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Net loss from discontinued operations before gain on distribution of Sandoz Group AG to Novartis AG shareholders</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   11</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   -18</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Gain on distribution of Sandoz Group AG to Novartis AG shareholders</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3, 11</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 5&nbsp;860</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net income from discontinued operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 11</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 5&nbsp;842</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 2&nbsp;820</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 8&nbsp;480</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Attributable to:</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">&nbsp;&nbsp;&nbsp;Shareholders of Novartis AG</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> 2&nbsp;818</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#666666;"> 8&nbsp;480</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">&nbsp;&nbsp;&nbsp;Non-controlling interests</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> 2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#666666;"> 0</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Weighted average number of shares outstanding &#x2013; Basic (million)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;987</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2&nbsp;050</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Basic earnings per share from continuing operations (USD)<sup style="white-space: nowrap">&nbsp;1</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> 1.42</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#666666;"> 1.29</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Basic earnings per share from discontinued operations (USD)<sup style="white-space: nowrap">&nbsp;1</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#666666;"> 2.85</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total basic earnings per share (USD)<sup style="white-space: nowrap">&nbsp;1</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 1.42</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 4.14</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Weighted average number of shares outstanding &#x2013; Diluted (million)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;004</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2&nbsp;065</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Diluted earnings per share from continuing operations (USD)<sup style="white-space: nowrap">&nbsp;1</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> 1.41</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#666666;"> 1.28</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Diluted earnings per share from discontinued operations (USD)<sup style="white-space: nowrap">&nbsp;1</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#666666;"> 2.83</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total diluted earnings per share (USD)<sup style="white-space: nowrap">&nbsp;1</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 1.41</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 4.11</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="8">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="8">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</sup> Earnings per share (EPS) is calculated on the amount of net income attributable to
               shareholders of Novartis AG.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="8">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">The accompanying Notes form an integral part of the condensed consolidated financial
               statements
            </div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">17</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name="anchorId00215284"></a><div><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Consolidated income statements</font></div>
<div style="padding-top:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>Full year</b> (audited)
</div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">(USD millions unless indicated otherwise)</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> Note</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> FY 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> FY 2023</div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net sales from continuing operations</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="11%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 9</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="11%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 50&nbsp;317</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="11%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 45&nbsp;440</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other revenues</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 9</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;405</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;220</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Cost of goods sold</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -12&nbsp;827</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -12&nbsp;472</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Gross profit from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 38&nbsp;895</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 34&nbsp;188</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Selling, general and administration</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -12&nbsp;566</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -12&nbsp;517</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Research and development</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -10&nbsp;022</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -11&nbsp;371</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;175</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;772</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2&nbsp;938</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -2&nbsp;303</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Operating income from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 14&nbsp;544</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 9&nbsp;769</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Loss from associated companies</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -38</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -13</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Interest expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1&nbsp;006</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -855</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other financial income and expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 140</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 222</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Income before taxes from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 13&nbsp;640</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 9&nbsp;123</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Income taxes</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1&nbsp;701</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -551</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net income from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 11&nbsp;939</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 8&nbsp;572</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Net income from discontinued operations before gain on  distribution of Sandoz Group AG to Novartis AG shareholders</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   11</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   422</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Gain on distribution of Sandoz Group AG to Novartis AG shareholders</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3, 11</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 5&nbsp;860</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net income from discontinued operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 11</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 6&nbsp;282</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 11&nbsp;939</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 14&nbsp;854</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Attributable to:</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">&nbsp;&nbsp;&nbsp;Shareholders of Novartis AG</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> 11&nbsp;941</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#666666;"> 14&nbsp;850</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">&nbsp;&nbsp;&nbsp;Non-controlling interests</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> -2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#666666;"> 4</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Weighted average number of shares outstanding &#x2013; Basic (million)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;018</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2&nbsp;077</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Basic earnings per share from continuing operations (USD)<sup style="white-space: nowrap">&nbsp;1</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> 5.92</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#666666;"> 4.13</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Basic earnings per share from discontinued operations (USD)<sup style="white-space: nowrap">&nbsp;1</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#666666;"> 3.02</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total basic earnings per share (USD)<sup style="white-space: nowrap">&nbsp;1</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 5.92</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 7.15</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Weighted average number of shares outstanding &#x2013; Diluted (million)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;035</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2&nbsp;092</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Diluted earnings per share from continuing operations (USD)<sup style="white-space: nowrap">&nbsp;1</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> 5.87</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#666666;"> 4.10</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Diluted earnings per share from discontinued operations (USD)<sup style="white-space: nowrap">&nbsp;1</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#666666;"> 3.00</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total diluted earnings per share (USD)<sup style="white-space: nowrap">&nbsp;1</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 5.87</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 7.10</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="8">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="8">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</sup> Earnings per share (EPS) is calculated on the amount of net income attributable to
               shareholders of Novartis AG.&nbsp;&nbsp;
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="8">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">The accompanying Notes form an integral part of the condensed consolidated financial
               statements
            </div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">18</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name="anchorId00215925"></a><div><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Consolidated statements of&nbsp;comprehensive&nbsp;income </font></div>
<div style="padding-top:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>Fourth quarter</b> (unaudited)
</div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">(USD millions)</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Q4 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q4 2023</div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net income</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 2&nbsp;820</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 8&nbsp;480</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Other comprehensive income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Items that are or may be recycled into the consolidated income statement</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Cash flow hedge, net of taxes</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Net investment hedge, net of taxes</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 105</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -59</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Currency translation effects, net of taxes</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1&nbsp;512</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;320</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Total of items that are or may be recycled</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1&nbsp;406</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;261</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Items that will never be recycled into the consolidated income statement</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Actuarial gains/(losses) from defined benefit plans, net of taxes</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;904</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -217</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Fair value adjustments on equity securities, net of taxes</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -21</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 56</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Total of items that will never be recycled</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;883</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -161</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total other comprehensive income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 477</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 1&nbsp;100</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total comprehensive income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 3&nbsp;297</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 9&nbsp;580</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Total comprehensive income for the period attributable to:</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">&nbsp;&nbsp;&nbsp;Shareholders of Novartis AG</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> 3&nbsp;299</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#666666;"> 9&nbsp;578</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">&nbsp;&nbsp;&nbsp;Continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3&nbsp;299</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 4&nbsp;062</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">&nbsp;&nbsp;&nbsp;Discontinued operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 5&nbsp;516</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">&nbsp;&nbsp;&nbsp;Non-controlling interests</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> -2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#666666;"> 2</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="6">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="6">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">The accompanying Notes form an integral part of the condensed consolidated financial
               statements
            </div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-top:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>Full year</b> (audited)
</div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">(USD millions)</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> FY 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> FY 2023</div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net income</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 11&nbsp;939</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 14&nbsp;854</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Other comprehensive income</div>
         </td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Items that are or may be recycled into the consolidated income statement</div>
         </td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Cash flow hedge, net of taxes</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -24</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Net investment hedge, net of taxes</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 91</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -50</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Currency translation effects, net of taxes</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1&nbsp;566</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;375</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Total of items that are or may be recycled</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1&nbsp;499</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;325</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Items that will never be recycled into the consolidated income statement</div>
         </td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Actuarial gains/(losses) from defined benefit plans, net of taxes</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;024</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -160</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Fair value adjustments on equity securities, net of taxes</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 64</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 37</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Total of items that will never be recycled</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;088</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -123</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total other comprehensive income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 589</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 1&nbsp;202</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total comprehensive income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 12&nbsp;528</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 16&nbsp;056</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Total comprehensive income for the period attributable to:</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">&nbsp;&nbsp;&nbsp;Shareholders of Novartis AG</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> 12&nbsp;533</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#666666;"> 16&nbsp;050</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">&nbsp;&nbsp;&nbsp;Continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 12&nbsp;533</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 10&nbsp;115</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">&nbsp;&nbsp;&nbsp;Discontinued operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 5&nbsp;935</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">&nbsp;&nbsp;&nbsp;Non-controlling interests</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> -5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#666666;"> 6</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom">
         <td colspan="6">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;">&nbsp;&nbsp;&nbsp;<sup>&nbsp;</sup></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="6">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">The accompanying Notes form an integral part of the condensed consolidated financial
               statements
            </div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">19</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name="anchorId00216508"></a><div><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Consolidated balance sheets </font></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"><br>(USD millions)
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Dec 31, <br> 2024<br> (audited)
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Dec 31, <br> 2023<br> (audited)
            </div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Assets</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Non-current assets</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Property, plant and equipment</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 9&nbsp;458</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 9&nbsp;514</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Right-of-use assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;415</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;410</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Goodwill</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 24&nbsp;756</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 23&nbsp;341</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Intangible assets other than goodwill</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 26&nbsp;915</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 26&nbsp;879</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Investments in associated companies</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 119</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 205</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Deferred tax assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 4&nbsp;359</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 4&nbsp;309</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Financial assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;015</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2&nbsp;607</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other non-current assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3&nbsp;505</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;199</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total non-current assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 72&nbsp;542</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 69&nbsp;464</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Current assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Inventories</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 5&nbsp;723</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 5&nbsp;913</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Trade receivables</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7&nbsp;423</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 7&nbsp;107</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Income tax receivables</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 133</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 426</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Marketable securities, commodities, time deposits and derivative financial instruments</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;998</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;035</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Cash and cash equivalents</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 11&nbsp;459</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 13&nbsp;393</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other current assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;968</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2&nbsp;607</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total current assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 29&nbsp;704</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 30&nbsp;481</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 102&nbsp;246</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 99&nbsp;945</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Equity and liabilities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Equity</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Share capital</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 793</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 825</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Treasury shares</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -53</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -41</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Reserves</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 43&nbsp;306</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 45&nbsp;883</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Equity attributable to Novartis AG shareholders</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 44&nbsp;046</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 46&nbsp;667</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Non-controlling interests</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 80</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 83</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total equity</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 44&nbsp;126</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 46&nbsp;750</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Liabilities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Non-current liabilities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Financial debts</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 21&nbsp;366</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 18&nbsp;436</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Lease liabilities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;568</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;598</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Deferred tax liabilities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;419</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2&nbsp;248</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Provisions and other non-current liabilities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 4&nbsp;075</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 4&nbsp;523</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total non-current liabilities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 29&nbsp;428</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 26&nbsp;805</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Current liabilities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Trade payables</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 4&nbsp;572</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 4&nbsp;926</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Financial debts and derivative financial instruments</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 8&nbsp;232</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 6&nbsp;175</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Lease liabilities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 235</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 230</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Current income tax liabilities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;599</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;893</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Provisions and other current liabilities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 14&nbsp;054</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 13&nbsp;166</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total current liabilities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 28&nbsp;692</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 26&nbsp;390</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total liabilities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 58&nbsp;120</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 53&nbsp;195</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total equity and liabilities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 102&nbsp;246</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 99&nbsp;945</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="6">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="6">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">The accompanying Notes form an integral part of the condensed consolidated financial
               statements
            </div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">20</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name="anchorId00217182"></a><div><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Consolidated statements of changes in equity </font></div>
<div style="padding-top:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>Fourth quarter</b> (unaudited)
</div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="10px">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
         </td>
         <td></td>
         <td align="center" colspan="3" height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> Reserves</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
         </td>
         <td></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 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>
         <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 height="1"></td>
         <td height="1" width="3" style="border-bottom: solid #FFFFFF 1px;"></td>
         <td colspan="3" style="border-bottom: solid #000000 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>
         <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 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>
         <td height="1"></td>
         <td height="1"></td>
      </tr>
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"><br>(USD millions)
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> <br> <br> <br> <br> <br> Note
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> <br> <br> <br> <br> Share<br> capital
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> <br> <br> <br> <br> Treasury<br> shares
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> <br> <br> <br> <br> Retained<br> earnings
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> <br> <br> <br> <br> Total value<br> adjustments
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> Issued share <br> capital and <br> reserves <br> attributable <br> to Novartis <br> shareholders
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> <br> <br> <br> Non-<br> controlling<br> interests
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> <br> <br> <br> <br> Total<br> equity
            </div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total equity at October 1, 2024</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 793</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -40</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 46&nbsp;292</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -3&nbsp;728</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 43&nbsp;317</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 124</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 43&nbsp;441</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Net income</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;818</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;818</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;820</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other comprehensive income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 481</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 481</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -4</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 477</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total comprehensive income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 2&nbsp;818</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 481</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 3&nbsp;299</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 3&nbsp;297</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Purchase of treasury shares</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -14</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2&nbsp;656</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2&nbsp;670</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2&nbsp;670</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Equity-based compensation plans</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 244</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 245</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 245</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Taxes on treasury share transactions</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -41</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -41</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -41</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Changes in non-controlling interests</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -128</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -128</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -42</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -170</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Fair value adjustments related to financial assets sold  and divestments</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   8</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   -8</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other movements</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 4.4</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 24</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 24</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 24</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total of other equity movements</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -13</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -2&nbsp;549</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -8</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -2&nbsp;570</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -42</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -2&nbsp;612</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total equity at December 31, 2024</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 793</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -53</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 46&nbsp;561</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -3&nbsp;255</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 44&nbsp;046</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 80</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 44&nbsp;126</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="18">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="18">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">The accompanying Notes form an integral part of the condensed consolidated financial
               statements
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td height="10px">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td></td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td></td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td></td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td></td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td></td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td></td>
      </tr>
   </table>
</div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="10px">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
         </td>
         <td></td>
         <td align="center" colspan="3" height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Reserves</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
         </td>
         <td></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 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>
         <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 height="1"></td>
         <td height="1" width="3" style="border-bottom: solid #FFFFFF 1px;"></td>
         <td colspan="3" style="border-bottom: solid #000000 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>
         <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 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>
         <td height="1"></td>
         <td height="1"></td>
      </tr>
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"><br>(USD millions)
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> <br> <br> <br> <br> <br> Note
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> <br> <br> <br> <br> Share<br> capital
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> <br> <br> <br> <br> Treasury<br> shares
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> <br> <br> <br> <br> Retained<br> earnings
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> <br> <br> <br> <br> Total value<br> adjustments
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Issued share <br> capital and <br> reserves <br> attributable <br> to Novartis <br> shareholders
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> <br> <br> <br> Non-<br> controlling<br> interests
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> <br> <br> <br> <br> Total<br> equity
            </div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total equity at October 1, 2023</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 825</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -32</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 42&nbsp;333</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -4&nbsp;962</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 38&nbsp;164</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 81</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 38&nbsp;245</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Net income</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 8&nbsp;480</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 8&nbsp;480</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 0</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 8&nbsp;480</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other comprehensive income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;098</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;098</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;100</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total comprehensive income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 8&nbsp;480</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 1&nbsp;098</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 9&nbsp;578</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 9&nbsp;580</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Purchase of treasury shares</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -10</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1&nbsp;223</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1&nbsp;233</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1&nbsp;233</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Exercise of options and employee transactions</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -5</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Equity-based compensation</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 249</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 250</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 250</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Shares delivered to Sandoz employees  as a result of the Sandoz spin-off</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   0</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   30</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   30</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   30</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Taxes on treasury share transactions</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 3</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Transaction costs, net of taxes</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 4.3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -140</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -140</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -140</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Fair value adjustments on financial assets sold</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -69</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 69</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Value adjustments related to divestments</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -29</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 29</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other movements</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 4.4</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 20</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 20</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 20</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total of other equity movements</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -9</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -1&nbsp;164</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 98</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -1&nbsp;075</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -1&nbsp;075</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total equity at December 31, 2023</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 825</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -41</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 49&nbsp;649</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -3&nbsp;766</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 46&nbsp;667</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 83</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 46&nbsp;750</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="18">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="18">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">The accompanying Notes form an integral part of the condensed consolidated financial
               statements
            </div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">21</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name="anchorId00218803"></a><div><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Consolidated statements of changes in equity </font></div>
<div style="padding-top:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>Full year</b> (audited)
</div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="10px">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
         </td>
         <td></td>
         <td align="center" colspan="3" height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> Reserves</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
         </td>
         <td></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 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>
         <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 height="1"></td>
         <td height="1" width="3" style="border-bottom: solid #FFFFFF 1px;"></td>
         <td colspan="3" style="border-bottom: solid #000000 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>
         <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 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>
         <td height="1"></td>
         <td height="1"></td>
      </tr>
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"><br>(USD millions)
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> <br> <br> <br> <br> <br> Note
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> <br> <br> <br> <br> Share<br> capital
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> <br> <br> <br> <br> Treasury<br> shares
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> <br> <br> <br> <br> Retained<br> earnings
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> <br> <br> <br> <br> Total value<br> adjustments
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> Issued share <br> capital and <br> reserves <br> attributable <br> to Novartis <br> shareholders
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> <br> <br> <br> Non-<br> controlling<br> interests
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> <br> <br> <br> <br> Total<br> equity
            </div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total equity at January 1, 2024</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 825</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -41</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 49&nbsp;649</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -3&nbsp;766</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 46&nbsp;667</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 83</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 46&nbsp;750</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Net income</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 11&nbsp;941</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 11&nbsp;941</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 11&nbsp;939</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other comprehensive income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 592</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 592</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 589</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total comprehensive income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 11&nbsp;941</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 592</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 12&nbsp;533</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 12&nbsp;528</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Dividends</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 4.1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -7&nbsp;624</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -7&nbsp;624</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -7&nbsp;624</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Purchase of treasury shares</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -44</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -8&nbsp;406</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -8&nbsp;450</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -8&nbsp;450</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Reduction of share capital</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 4.2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -32</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 26</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Equity-based compensation plans</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;054</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;060</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;060</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Taxes on treasury share transactions</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -68</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -68</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -68</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Changes in non-controlling interests</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -226</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -226</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -224</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Value adjustments related to financial assets sold and divestments</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   81</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   -81</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other movements</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 4.4</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 154</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 154</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 154</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total of other equity movements</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -32</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -12</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -15&nbsp;029</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -81</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -15&nbsp;154</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -15&nbsp;152</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total equity at December 31, 2024</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 793</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -53</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 46&nbsp;561</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -3&nbsp;255</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 44&nbsp;046</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 80</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 44&nbsp;126</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="18">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">       </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="18">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">The accompanying Notes form an integral part of the condensed consolidated financial
               statements
            </div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="10px">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
         </td>
         <td></td>
         <td align="center" colspan="3" height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Reserves</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
         </td>
         <td></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 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>
         <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 height="1"></td>
         <td height="1" width="3" style="border-bottom: solid #FFFFFF 1px;"></td>
         <td colspan="3" style="border-bottom: solid #000000 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>
         <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 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>
         <td height="1"></td>
         <td height="1"></td>
      </tr>
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"><br>(USD millions)
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> <br> <br> <br> <br> <br> Note
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> <br> <br> <br> <br> Share<br> capital
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> <br> <br> <br> <br> Treasury<br> shares
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> <br> <br> <br> <br> Retained<br> earnings
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> <br> <br> <br> <br> Total value<br> adjustments
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Issued share <br> capital and <br> reserves <br> attributable <br> to Novartis <br> shareholders
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> <br> <br> <br> Non-<br> controlling<br> interests
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> <br> <br> <br> <br> Total<br> equity
            </div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total equity at January 1, 2023</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 890</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -92</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 63&nbsp;540</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -4&nbsp;996</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 59&nbsp;342</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 81</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 59&nbsp;423</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Net income</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 14&nbsp;850</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 14&nbsp;850</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 4</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 14&nbsp;854</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other comprehensive income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;200</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;200</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;202</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total comprehensive income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 14&nbsp;850</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 1&nbsp;200</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 16&nbsp;050</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 16&nbsp;056</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Dividends</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -7&nbsp;255</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -7&nbsp;255</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -7&nbsp;255</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Dividend in kind</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -13&nbsp;962</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -13&nbsp;962</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -13&nbsp;962</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Purchase of treasury shares</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -51</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -8&nbsp;466</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -8&nbsp;517</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -8&nbsp;517</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Reduction of share capital</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -65</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 94</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -29</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Exercise of options and employee transactions</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 144</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 146</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 146</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Equity-based compensation</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 898</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 904</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 904</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Shares delivered to Sandoz employees  as a result of the Sandoz spin-off</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   0</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   30</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   30</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   30</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Taxes on treasury share transactions</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 14</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 14</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 14</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Transaction costs, net of taxes</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 4.3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -214</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -214</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -214</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Changes in non-controlling interests</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -4</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -4</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Fair value adjustments on financial assets sold</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Value adjustments related to divestments</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -29</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 29</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other movements</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 4.4</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 129</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 129</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 129</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total of other equity movements</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -65</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 51</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -28&nbsp;741</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 30</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -28&nbsp;725</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -4</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -28&nbsp;729</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total equity at December 31, 2023</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 825</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -41</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 49&nbsp;649</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -3&nbsp;766</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 46&nbsp;667</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 83</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 46&nbsp;750</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="18">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="18">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">The accompanying Notes form an integral part of the condensed consolidated financial
               statements
            </div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">22</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name="anchorId00220617"></a><div><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Consolidated statements of cash flows </font></div>
<div style="padding-top:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>Fourth quarter</b> (unaudited)
</div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">(USD millions)</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> Note</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Q4 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q4 2023</div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net income from continuing operations</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="11%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="11%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 2&nbsp;820</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="11%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 2&nbsp;638</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Adjustments to reconcile net income from continuing operations to net cash flows from
               operating  activities from continuing operations
            </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Reversal of non-cash items and other adjustments</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6.1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;709</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;791</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Interest received</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 142</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 163</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Interest paid</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -214</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -238</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Change in other financial receipts</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 26</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Change in other financial payments</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -85</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -3</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Income taxes paid</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6.2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -924</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1&nbsp;093</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net cash flows from operating activities from continuing operations  before working capital and provision changes</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   4&nbsp;448</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   3&nbsp;284</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Payments out of provisions and other net cash movements in non-current liabilities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -260</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -353</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Change in net current assets and other operating cash flow items</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6.3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -384</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net cash flows from operating activities from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 4&nbsp;193</div>
         </td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 2&nbsp;547</div>
         </td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total net cash flows from operating activities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 4&nbsp;193</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 2&nbsp;547</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Purchases of property, plant and equipment</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -558</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -406</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Proceeds from sale of property, plant and equipment</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 47</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 164</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Purchases of intangible assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -573</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -377</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Proceeds from sale of intangible assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 37</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Purchases of financial assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -48</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -29</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Proceeds from sale of financial assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 21</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 147</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Proceeds from sale of other non-current assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Acquisitions and divestments of interests in associated companies, net</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -3</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Acquisitions and divestments of businesses, net</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6.4</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -262</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -8</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Purchases of marketable securities, commodities and time deposits</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2&nbsp;257</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -544</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Proceeds from sale of marketable securities, commodities and time deposits</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 560</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 32</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net cash flows used in investing activities from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -3&nbsp;033</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -1&nbsp;022</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Net cash flows used in investing activities from discontinued operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -738</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total net cash flows used in investing activities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -3&nbsp;033</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -1&nbsp;760</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Purchases of treasury shares</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2&nbsp;762</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1&nbsp;251</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Proceeds from exercised options and other treasury share transactions, net</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -5</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Repayments of the current portion of non-current financial debts</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -10</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Change in current financial debts</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -24</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 674</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Payments of lease liabilities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -72</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -64</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Payments from changes in ownership interests in consolidated subsidiaries</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -156</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other financing cash flows, net</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 28</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 150</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net cash flows used in financing activities from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -2&nbsp;996</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -496</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Net cash flows used in financing activities from discontinued operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -111</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total net cash flows used in financing activities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -2&nbsp;996</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -607</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net change in cash and cash equivalents before effect of exchange rate changes</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -1&nbsp;836</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 180</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Cash and cash equivalents from discontinued operations at September 30, 2023</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 648</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Effect of exchange rate changes on cash and cash equivalents</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -314</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 160</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net change in cash and cash equivalents</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -2&nbsp;150</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 988</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Cash and cash equivalents at October 1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 13&nbsp;609</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 12&nbsp;405</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Cash and cash equivalents at December 31</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 11&nbsp;459</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 13&nbsp;393</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="8">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="8">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">The accompanying Notes form an integral part of the condensed consolidated financial
               statements
            </div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">23</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name="anchorId00221430"></a><div><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Consolidated statements of cash flows </font></div>
<div style="padding-top:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>Full year</b> (audited)
</div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">(USD millions)</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> Note</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> FY 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> FY 2023</div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net income from continuing operations</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="11%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="11%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 11&nbsp;939</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="11%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 8&nbsp;572</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Adjustments to reconcile net income from continuing operations to net cash flows from
               operating  activities from continuing operations
            </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Reversal of non-cash items and other adjustments</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6.1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 10&nbsp;232</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 10&nbsp;369</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Dividends received from associated companies and others</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Interest received</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 489</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 645</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Interest paid</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -855</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -751</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other financial receipts</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 90</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other financial payments</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -116</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -17</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Income taxes paid</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6.2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2&nbsp;258</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -2&nbsp;787</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net cash flows from operating activities from continuing operations  before working capital and provision changes</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   19&nbsp;432</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   16&nbsp;123</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Payments out of provisions and other net cash movements in non-current liabilities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1&nbsp;107</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1&nbsp;534</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Change in net current assets and other operating cash flow items</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6.3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -706</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -369</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net cash flows from operating activities from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 17&nbsp;619</div>
         </td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 14&nbsp;220</div>
         </td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Net cash flows from operating activities from discontinued operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 238</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total net cash flows from operating activities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 17&nbsp;619</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 14&nbsp;458</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Purchases of property, plant and equipment</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1&nbsp;366</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1&nbsp;060</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Proceeds from sale of property, plant and equipment</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 86</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 237</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Purchases of intangible assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2&nbsp;448</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1&nbsp;693</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Proceeds from sale of intangible assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 80</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;955</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Purchases of financial assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -193</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -106</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Proceeds from sale of financial assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 957</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 348</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Proceeds from sale of other non-current assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Acquisitions and divestments of interests in associated companies, net</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -10</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -11</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Acquisitions and divestments of businesses, net</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6.4</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -3&nbsp;911</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -3&nbsp;558</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Purchases of marketable securities, commodities and time deposits</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -3&nbsp;455</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -641</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Proceeds from sale of marketable securities, commodities and time deposits</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;744</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 11&nbsp;248</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net cash flows (used in)/from investing activities from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -7&nbsp;513</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 6&nbsp;719</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Net cash flows used in investing activities from discontinued operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1&nbsp;123</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total net cash flows (used in)/from investing activities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -7&nbsp;513</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 5&nbsp;596</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Dividends paid to shareholders of Novartis AG</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 4.1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -7&nbsp;624</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -7&nbsp;255</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Purchases of treasury shares</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -8&nbsp;331</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -8&nbsp;719</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Proceeds from exercised options and other treasury share transactions, net</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 30</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 153</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Proceeds from non-current financial debts</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6&nbsp;143</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Repayments of the current portion of non-current financial debts</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2&nbsp;160</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -2&nbsp;223</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Change in current financial debts</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 958</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 546</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Repayments of other current financial debts</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -289</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Payments of lease liabilities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -262</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -258</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Payments from changes in ownership interests in consolidated subsidiaries</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -293</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other financing cash flows, net</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 86</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 192</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net cash flows used in financing activities from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -11&nbsp;742</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -17&nbsp;564</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Net cash flows from financing activities from discontinued operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 3&nbsp;286</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total net cash flows used in financing activities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -11&nbsp;742</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -14&nbsp;278</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net change in cash and cash equivalents before effect of exchange rate changes</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -1&nbsp;636</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 5&nbsp;776</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Effect of exchange rate changes on cash and cash equivalents</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -298</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 100</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net change in cash and cash equivalents</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -1&nbsp;934</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 5&nbsp;876</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Cash and cash equivalents at January 1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 13&nbsp;393</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 7&nbsp;517</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Cash and cash equivalents at December 31</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 11&nbsp;459</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 13&nbsp;393</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="8">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="8">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">The accompanying Notes form an integral part of the condensed consolidated financial
               statements
            </div>
         </td>
      </tr>
   </table>
</div>
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</div><a name="anchorId00222334"></a><p style="font-family:arial,helvetica,sans-serif; font-size:24pt; color:#000000; font-weight:bold;">Notes to the Condensed Consolidated Financial Statements for&nbsp;the&nbsp;three month interim period (unaudited) and year ended December 31, 2024 (audited)</p><a name="anchorId00222339"></a><div style="font-family:arial,helvetica,sans-serif; font-size:18pt; color:#000000; font-weight: bold; margin-bottom:20px;margin-top:30px;">1. Basis of preparation</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The consolidated financial statements of the Company are prepared in accordance with
   International Financial Reporting Standards (IFRS<sup>&#xae;</sup>) Accounting Standards as issued by the International Accounting Standards Board.
   They are prepared in accordance with the historical cost convention, except for items
   that are required to be accounted for at fair value. These Condensed Consolidated
   Financial Statements for the three month interim period and year ended December 31,
   2024, were prepared in accordance with International Accounting Standards (IAS<sup>&#xae;</sup>) Standards 34 Interim Financial Reporting and accounting policies set out in the
   2024 Annual Report published on January 31, 2025.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">At the Novartis AG Extraordinary General Meeting, held on September 15, 2023, our
   shareholders approved the spin-off of the Sandoz business. Following the shareholder
   approval IFRS Accounting Standards required the Sandoz Division and selected portions
   of corporate activities attributable to Sandoz&#x2019;s business, as well as certain expenses
   related to the spin-off (the &#x201c;Sandoz business&#x201d;) to be reported as discontinued operations
   in the consolidated financial statements. As a result, the Sandoz business has been
   presented as discontinued operations in the condensed consolidated financial statements.
   This requires the three month and year ended December 31, 2023, consolidated income
   statement, consolidated statement of comprehensive income and consolidated statement
   of cash flows to present separately continuing operations from discontinued operations.

</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">The shareholder approval on September 15, 2023, for the spin-off of the Sandoz business,
   required the recognition of a distribution liability at the fair value of the Sandoz
   business. Novartis policy is to measure the distribution liability at the fair value
   of the Sandoz business net assets taken as a whole. The distribution liability was
   recognized through a reduction in retained earnings. It was required to be 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 would have been 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.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">At the October 4, 2023, distribution settlement date, the resulting gain, which is
   measured as the excess amount of the distribution liability over the then-carrying
   value of the net assets of the business distributed, was recognized on the line &#x201c;Gain
   on distribution of Sandoz Group AG to Novartis AG shareholders&#x201d; within the income
   statement of discontinued operations.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">The recognition of the distribution liability required the use of valuation techniques
   for the purposes of impairment testing of the Sandoz 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 Sandoz business&#x2019;
   future cash flows, market multiples, opening share price of Sandoz Group AG on the
   first day of trading its shares on the SIX Swiss Exchange, to estimate day one market value, and control premiums to apply in estimating the Sandoz business
   fair value. These fair value measurements are classified as &#x201c;Level 3&#x201d; in the fair
   value hierarchy. The section &#x201c;&mdash;Goodwill and intangible assets other than goodwill&#x201d; in Note 1 to the Consolidated
   Financial Statements in the Annual Report 2024 provides additional information on
   key assumptions that are highly sensitive in the estimation of fair values using valuation
   techniques.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">Transaction costs that were directly attributable to the Distribution (spin-off) of
   the Sandoz business to Novartis AG shareholders by way of a dividend in kind, and
   that would otherwise have been avoided, were accounted for as a deduction from equity
   (within retained earnings). Prior to the recognition of the distribution liability,
   these costs were recorded as prepaid expenses in the consolidated balance sheet.
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">For further information and disclosures, refer to Note 3 and Note 11.</div>
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</div><a name="anchorId00222366"></a><div style="font-family:arial,helvetica,sans-serif; font-size:18pt; color:#000000; font-weight: bold; margin-bottom:20px;margin-top:30px;">2. Accounting policies</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The Company&#x2019;s accounting policies are set out in Note 1 to the Consolidated Financial
   Statements in the 2024 Annual Report and conform with IFRS Accounting Standards as
   issued by the International Accounting Standards Board.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">The preparation of financial statements requires management to make certain estimates
   and assumptions, either at the balance sheet date or during the period, which affect
   the reported amounts of revenues, expenses, assets, liabilities, including the distribution
   liability and contingent amounts.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">Estimates are based on historical experience and other assumptions that are considered
   reasonable under the given circumstances and are regularly monitored. Actual outcomes
   and results could differ from those estimates and assumptions. Revisions to estimates
   are recognized in the period in which the estimate is revised.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">As disclosed in the 2024 Annual Report, goodwill, 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 Company&#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 Company&#x2019;s results of operations
   and financial condition.
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">The Company&#x2019;s activities are not subject to significant seasonal fluctuations.</div><a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">Status of adoption of significant new or amended IFRS standards or interpretations</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">No new IFRS Accounting Standards were adopted by the Company in 2024. There were no
   new IFRS Accounting Standards amendments or interpretations that became effective
   in 2024 that had a material impact on the Company&#x2019;s consolidated financial statements.

</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">In 2024, the following new IFRS Accounting Standard, which is not yet effective, was
   issued by the International Accounting Standards Board:
</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">IFRS 18 Presentation and Disclosure in Financial Statements</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">IFRS 18 Presentation and Disclosure in Financial Statements was issued by the International
   Accounting Standards Board in April 2024. IFRS 18 will become effective on January
   1, 2027, and is required to be applied retrospectively to comparative periods presented,
   with early adoption permitted. Upon adoption, IFRS 18 replaces International Accounting
   Standards (IAS<sup>&#xae;</sup>) Standards 1 - Presentation of Financial Statements.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">IFRS 18 sets out new requirements focused on improving financial reporting by: </div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt;color:#000000;margin-bottom:0mm;margin-left:9px;margin-right:0mm;margin-top:0mm;text-indent:-9px;">&#x2022; requiring additional defined structure to the statement of profit or loss (i.e. consolidated
   statement of income), to reduce diversity in the reporting, by requiring five categories
   (operating, investing, financing, income taxes and discontinued operations) and defined
   subtotals and totals (operating income, income before financing, income taxes and
   net income),
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt;color:#000000;margin-bottom:0mm;margin-left:9px;margin-right:0mm;margin-top:0mm;text-indent:-9px;">&#x2022; requiring disclosures in the notes to the financial statements about management-defined
   performance measures (i.e. non-IFRS measures), and
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt;color:#000000;margin-bottom:0mm;margin-left:9px;margin-right:0mm;margin-top:0mm;text-indent:-9px;">&#x2022; adding new principles for aggregation and disaggregation of information in the primary
   financial statements and notes.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">IFRS 18 will not impact the recognition or measurement of items in the financial statements,
   but it might change what an entity reports as its &#x2018;operating profit or loss&#x2019;, due
   to the classification of certain income and expense items between the five categories
   of the consolidated income statement. It might also change what an entity reports
   as operating activities, investing activities and financing activities within the
   statement of cash flows, due to the change in classification of certain cash flow
   items between these three categories of the cash flows statement. Novartis is currently
   assessing the impact of adopting IFRS 18.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Based on the Company&#x2019;s assessment, there were no other IFRS Accounting Standards,
   amendments or interpretations not yet effective in 2024 that would be expected to
   have a material impact on the Company&#x2019;s consolidated &#xfb01;nancial statements.
</div>
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</div><a name="anchorId00222413"></a><div style="font-family:arial,helvetica,sans-serif; font-size:18pt; color:#000000; font-weight: bold; margin-bottom:20px;margin-top:30px;">3. Significant acquisitions of businesses and spin-off of Sandoz business</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The Company applied the acquisition method of accounting for businesses acquired,
   and did not elect to apply the optional concentration test to account for acquired
   business as an asset separately acquired.
</div><a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">Significant acquisitions of businesses &ndash; 2024</font></div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Acquisition of Kate Therapeutics Inc.</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">On October 31, 2024, Novartis acquired Kate Therapeutics Inc. (Kate Therapeutics),
   a US based, preclinical-stage biotechnology company focused on developing adeno-associated viruses
   (AAV) based gene therapies to treat genetically defined muscle and heart diseases.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">The purchase price consisted of a cash payment of USD 427 million (including purchase
   price adjustments of USD 2 million) and potential additional milestones of up to USD
   700 million, which the Kate Therapeutics shareholders are eligible to receive upon
   the achievement of specified development milestones.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">The fair value of the total purchase consideration was USD 518 million, consisting
   of a cash payment of USD 427 million and the fair value of contingent consideration
   of USD 91 million. The purchase price allocation resulted in net identifiable assets
   of USD 234 million, consisting primarily of IPR&amp;D intangible assets of USD 135 million,
   other intangible assets (scientific infrastructure) of USD 135 million, cash and cash
   equivalents of USD 6 million, net deferred tax liabilities of USD 41 million and other
   net liabilities of USD 1 million. Goodwill amounted to USD 284 million.
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">The results of operations since the date of acquisition were not material.</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Acquisition of Mariana Oncology Inc.</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">On May 3, 2024, Novartis acquired Mariana Oncology Inc. (Mariana Oncology), a US based,
   preclinical-stage biotechnology company focused on developing novel radioligand therapies
   (RLTs) with a portfolio of RLT programs across a range of solid tumor indications.

</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">The purchase price consisted of a cash payment of USD 1.04 billion and potential additional milestones of up to USD 750 million, which Mariana Oncology shareholders are eligible to receive upon the achievement
   of speci&#xfb01;ed milestones.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">The fair value of the total purchase consideration was USD 1.28 billion, consisting of a cash payment of USD 1.04 billion and the fair value of contingent consideration of USD 239 million. The purchase price allocation resulted in net identi&#xfb01;able assets of USD
   754 million, consisting primarily of IPR&amp;D intangible assets of USD 344 million, other intangible assets (scientific infrastructure) of USD 473 million, cash and cash equivalents of USD 80 million, net deferred tax liabilities of USD 133 million and other net liabilities of USD 10 million. Goodwill amounted to USD 528 million.
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">The results of operations since the date of acquisition were not material.</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Acquisition of MorphoSys AG</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">On February 5, 2024, Novartis entered into an agreement to acquire MorphoSys AG (MorphoSys),
   a Germany-based, global biopharmaceutical company developing innovative medicines
   in oncology. The acquisition of MorphoSys adds to our oncology pipeline pelabresib,
   a late-stage BET inhibitor for myelofibrosis and tulmimetostat, an early-stage investigational
   dual inhibitor of EZH2 and EZH1 for solid tumors or lymphomasis.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">On April 11, 2024, Novartis, through a subsidiary, commenced a voluntary public takeover
   offer (the &#x201c;Offer&#x201d;) to acquire all outstanding shares of MorphoSys for EUR 68 per share, representing a total consideration of approximately EUR 2.6 billion in cash on a fully diluted basis. The settlement of the Offer was conditional
   on a minimum acceptance threshold of 65%of the MorphoSys outstanding shares.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">Novartis purchased during the Offer acceptance period MorphoSys shares on the market
   for a total amount of EUR 0.3 billion (USD 0.3 billion). The closing conditions of the Offer, including the minimum acceptance threshold
   of 65%  were fulfilled by the end of the Offer acceptance period, and the acquisition of MorphoSys
   closed on May 23, 2024, with the settlement payment amounting to EUR 1.7 billion (USD 1.9 billion) to the MorphoSys shareholders for their tendered shares. Subsequent to May
   23, 2024, Novartis acquired additional MorphoSys outstanding shares through the German
   statutory two-week extension period of the Offer (ending on May 30, 2024) for EUR
   0.3 billion (USD 0.3 billion). As a result, as at May 30, 2024, Novartis held 89.7% of the total outstanding
   share capital of MorphoSys. Total cash paid for the MorphoSys shares purchased by
   Novartis through to the end of the statutory two-week extension period of the Offer
   amounted to EUR 2.3  billion (USD 2.5 billion). Non-controlling interests represented 10.3% of MorphoSys outstanding shares
   amounting to USD 0.1 billion and were recognized in equity.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">In June 2024, outside the Offer Novartis purchased an additional 1.7% of MorphoSys
   shares for EUR 44 million (USD 47 million). As a result, at June 30, 2024, Novartis
   held approximately 91.4% of outstanding MorphoSys shares.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">On July 4, 2024, Novartis filed a public purchase offer to delist the MorphoSys shares
   admitted to trading on regulated markets and acquire all MorphoSys AG shares and American
   Depository Shares (ADS) not held directly by Novartis. In August 2024, the delisting
   of the MorphoSys shares admitted to trading on regulated markets was completed, and
   Novartis purchased an additional 3.2% of MorphoSys shares for EUR 83 million (USD
   90 million). As a result, at September 30, 2024 Novartis held approximately 94.5%
   of outstanding MorphoSys shares.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">On October 15, 2024, the &#x201c;squeeze-out&#x201d; of the remaining minority shareholders of MorphoSys
   was completed by way of a merger into a wholly-owned Novartis entity. As a result,
   Novartis held 100% of the
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</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">outstanding shares of MorphoSys and non-controlling interests in equity were reduced
   to nil. On October 21, 2024, Novartis paid EUR 144 million (USD 156 million) to the
   former remaining minority shareholders in connection with the &#x201c;squeeze-out.&#x201d;
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">The fair value of the total purchase consideration for the 89.7% stake held on May
   30, 2024, was USD 2.5 billion (including cash acquired). The purchase price allocation resulted in net
   identifiable assets of USD 0.7 billion, consisting primarily of intangible assets
   other than goodwill of USD 1.1 billion, comprising IPR&amp;D intangible assets of USD
   0.6 billion and other intangible assets (customer out-licensing contracts) of USD 0.5
   billion, financial investments and other receivables of USD 0.2 billion, marketable
   securities of USD 0.4 billion, cash and cash equivalents of USD 0.2 billion, financial debt to third parties of USD 0.9 billion, net deferred tax liabilities
   of USD 0.1 billion and other net liabilities of USD 0.2 billion. Non-controlling interests
   amounted to USD 0.1 billion, which were recognized at the non-controlling interests&#x2019; proportionate share
   of MorphoSys identifiable net assets. Goodwill as at the acquisition date amounted
   to USD 1.9 billion.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">The results of operations since the date of acquisition were not material.</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">Following the completion of management&#x2019;s analysis of the third-party integrated safety
   report related to certain clinical trial data readouts, that became available prior
   to closing the MorphoSys acquisition, the necessity to perform an interim impairment
   test of the goodwill attributable to the MorphoSys business acquired at the provisional
   level of the grouping of CGUs of the MorphoSys business was triggered. This impairment
   test required the use of valuation techniques to estimate the fair value less cost of disposal of the MorphoSys business. These valuations required the use of management
   assumptions and estimates related to the MorphoSys business&#x2019; future cash flows and
   assumptions on, among others, discount rate (8.5%) and terminal growth/decline rates
   (-15.0%). These fair value measurements are classified as &#x201c;Level 3&#x201d; in the fair value
   hierarchy. The section &#x201c;&mdash;Goodwill and intangible assets other than goodwill&#x201d; in Note 1 to the Consolidated
   Financial Statements in the Annual Report 2024 provides additional information on
   key assumptions that are highly sensitive in the estimation of fair values using valuation
   techniques. The interim impairment test indicated an impairment of the goodwill attributable
   to the MorphoSys business in the amount of USD 0.9 billion, which was recognized as
   &#x201c;Other expense&#x201d; in the consolidated income statement. As at December 31, 2024, the
   remaining carrying value of the goodwill attributable to the MorphoSys business amounting
   to USD 1.0 billion was allocated to the grouping of CGUs at the level of the operating
   segment of the Company, which is the level where the future synergies will be realized.
</div><a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">Significant acquisitions of businesses &ndash; 2023</font></div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Acquisition of DTx Pharma Inc.</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">In the second quarter of 2023, Novartis entered into an agreement to acquire all outstanding
   shares of DTx Pharma Inc. (DTx), a US based, pre-clinical stage biotechnology company
   focused on leveraging its proprietary FALCON platform to develop siRNA therapies for
   neuroscience indications. DTx&#x2019;s lead program, DTx-1252 targets the root cause of CMT1A&mdash;the overexpression of PMP22, a protein that causes the myelin sheath that supports
   and insulates nerves in the peripheral nervous system to function abnormally. The
   transaction also includes two additional pre-clinical programs for other neuroscience
   indications. The transaction closed on July 14, 2023.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">The purchase price consisted of a cash payment of USD 0.6 billion and potential additional milestones of up to USD 0.5 billion, which the DTx shareholders are eligible to receive upon the achievement
   of specified milestones.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">The fair value of the total purchase consideration was USD 0.6 billion. The amount consisted of a cash payment of USD 0.6 billion and the fair value of contingent consideration of USD 30 million, which DTx shareholders are eligible to receive upon the achievement of specified
   milestones. The purchase price allocation resulted in net identifiable assets of USD
   0.4 billion, consisting primarily of IPR&amp;D intangible assets of USD 0.4 billion, cash of USD 0.1 billion and net deferred tax liabilities of USD 0.1 billion. Goodwill amounted to USD 0.2 billion.
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">The 2023 results of operations since the date of acquisition were not material.</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Acquisition of Chinook Therapeutics, Inc.</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">On June 12, 2023, Novartis entered into an agreement to acquire all outstanding shares
   of Chinook Therapeutics, Inc. (Chinook Therapeutics), a US based clinical stage biopharmaceutical
   company with two late-stage medicines in development for rare, severe chronic kidney
   diseases. The acquisition closed on August 11, 2023.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">The purchase price consisted of a cash payment of USD 3.2 billion and potential additional payments of up to USD 0.3 billion, which Chinook Therapeutics shareholders are eligible to receive upon the
   achievement of specified milestones.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">The fair value of the total purchase consideration was USD 3.3 billion. The amount consisted of an upfront cash payment of USD 3.2 billion and the fair value of contingent consideration of USD 0.1 billion, which Chinook Therapeutics shareholders are eligible to receive upon achievement
   of specified milestones. The purchase price allocation resulted in net identifiable
   assets of USD 2.4 billion, consisting primarily of IPR&amp;D intangible assets of USD 2.5 billion, net deferred tax liabilities of USD 0.4 billion and other net assets of USD 0.3 billion, including cash of USD 0.1 billion. Goodwill amounted to USD 0.9 billion.
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">The 2023 results of operations since the date of acquisition were not material.</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">28</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">Fair value of assets and liabilities arising from acquisitions of businesses</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The following table presents the fair value of the assets and liabilities acquired
   through acquisitions of businesses and the total purchase considerations for December
   31, 2024, and 2023:
</div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"><br>(USD millions)
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Dec 31, <br> 2024
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Dec 31, <br> 2023
            </div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Property, plant and equipment</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 20</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 18</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Right-of-use assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 47</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 16</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">In-process research and development</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;424</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2&nbsp;931</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other intangible assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;156</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 15</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Deferred tax assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 465</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 34</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Non-current financial and other assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 31</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 164</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Trade receivables and financial and  other current assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   613</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   183</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Cash and cash equivalents</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 242</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 226</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Deferred tax liabilities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -799</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -474</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Current and non-current financial debts</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -852</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Current and non-current lease liabilities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -47</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -51</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Trade payables and other liabilities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -297</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -231</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net identifiable assets acquired</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 2&nbsp;003</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 2&nbsp;831</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Non-controlling interests</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -75</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Goodwill</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;701</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;094</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total purchase consideration for acquisitions of businesses</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   4&nbsp;629</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   3&nbsp;925</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="6">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
   </table>
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The significant business acquisitions in 2024, were Kate Therapeutics, Mariana Oncology
   and MorphoSys. The goodwill arising out of 2024 acquisitions is not tax deductible
   and is attributable to synergies, including the cost synergies from pre-acquisition
   in-licensed IP from MorphoSys, accounting for deferred tax liabilities on acquired
   assets, and the assembled workforce. In 2024, an impairment of goodwill was recognized
   related to the MorphoSys business acquisition of USD 0.9 billion. See Acquisition
   of MorphoSys AG section of this Note 3 for additional information.
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">In 2023, the significant business acquisitions were the acquisition of DTx Pharma
   and Chinook Therapeutics. The goodwill arising out of these acquisitions is attributable
   to the synergies, accounting for deferred tax liabilities on acquired assets and the
   assembled workforce. In 2023, no goodwill was tax deductible.
</div><a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">Distribution of Sandoz Group AG to Novartis AG shareholders</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">On July 18, 2023, Novartis announced that its Board of Directors had unanimously endorsed
   the proposed separation of the Sandoz business to create an independent company by
   way of a spin-off and to seek shareholder approval for the spin-off of the Sandoz
   business into a separately traded standalone company, following the complete structural
   separation of the Sandoz business into a standalone company (the Sandoz business or
   Sandoz Group AG) and subject to the satisfaction of certain conditions and Novartis
   AG shareholder approval.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">At the EGM held on September 15, 2023, Novartis AG shareholders approved a special
   distribution by way of a dividend in kind to effect the spin-off of Sandoz Group AG,
   subject to the completion of certain conditions precedent to the distribution. Upon
   shareholder approval, the Sandoz business was reported as discontinued operations
   and the distribution liability was recognized at its fair value, which exceeded the
   carrying value of the Sandoz business net assets.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">The conditions precedent to the spin-off were met and on October 3, 2023 the spin-off
   of the Sandoz business was effected by way of a distribution of a dividend in kind
   of Sandoz Group AG shares to Novartis AG shareholders and American Depositary Receipt
   (ADR) holders (the Distribution). Through the Distribution, each Novartis AG shareholder
   received 1 Sandoz Group AG share for every 5 Novartis AG shares and each Novartis
   ADR holder received 1 Sandoz ADR for every 5 Novartis ADR that they held at the close
   of business on October 3, 2023. As of October 4, 2023, the shares of Sandoz Group
   AG have been listed on the SIX Swiss Exchange (SIX) under the stock symbol &#x201c;SDZ&#x201d;.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">On September 18, 2023, the Sandoz business entered into financing arrangements with
   a group of banks under which on September 28, 2023, it borrowed a total amount of
   USD 3.3 billion. These borrowings consisted of a bridge loan in EUR (EUR 2.4 billion) and term loans in EUR (EUR 0.2 billion) and USD (USD 0.5 billion). In addition, the Sandoz business borrowed approximately USD 0.4 billion under a number of local bilateral facilities in different countries. This
   resulted in a total gross debt of USD 3.7 billion. These outstanding borrowings of the Sandoz business legal entities were
   recognized in the September 30, 2023 consolidated balance sheet within Liabilities
   related to discontinued operations and within financing activities cash flows from
   discontinued operations. Prior to the Distribution on October 3, 2023, Sandoz business
   legal entities paid approximately USD 3.3 billion in cash to Novartis and its affiliates through a series of intercompany transactions.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">At the Distribution date on October 3, 2023, the dividend in kind distribution liability
   to effect the Distribution (spin-off) of the Sandoz business amounted to USD 14.0 billion, measured by reference to the October 4, 2023 opening Sandoz Group AG share
   price and applying a control premium. The dividend in kind distribution liability
   was recorded as a reduction to equity (retained earnings) and remained in excess of
   the then carrying value of the Sandoz business net assets, which amounted to USD 8.6 billion.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">Certain consolidated foundations own Novartis AG dividend-bearing shares that restricts
   their availability for use by Novartis. These Novartis AG shares are accounted for
   as treasury shares. Through the Distribution, these foundations received Sandoz Group
   AG shares representing an approximate 4.31% equity interest in Sandoz Group AG. Upon the loss of control of Sandoz Group AG through
   the Distribution on October 3, 2023, the financial investment in Sandoz Group AG was
   recognized at its initial fair value based on the opening traded share price of Sandoz
   Group AG on October 4, 2023 (a Level 1 hierarchy valuation). At initial recognition,
   on October 4, 2023, the Sandoz
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">29</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">Group AG financial investment had a fair value of USD 0.5 billion, and was reported in the fourth quarter of 2023 on the consolidated balance
   sheet as a financial asset. Management has designated this investment at fair value
   through other comprehensive income.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">The total non-taxable, non-cash gain recognized at the Distribution date of the spin-off
   of the Sandoz business amounted to USD 5.9 billion, which consists of:
</div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"><br>(USD millions)
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Oct 3,<br> 2023
            </div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Net assets derecognized<sup style="white-space: nowrap">&nbsp;1</sup></div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="20%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -8&nbsp;647</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Derecognition of distribution liability</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 13&nbsp;962</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Difference between net assets and distribution liability</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 5&nbsp;315</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Recognition of Sandoz Group AG shares obtained through consolidated foundations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   492</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Currency translation gains recycled into the consolidated income statement</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   357</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Transaction costs and other items recognized in the  consolidated income statement</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   -304</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Gain on distribution of Sandoz Group AG to  Novartis AG shareholders</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   5&nbsp;860</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 2px;"></td>
      </tr>
   </table>
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">For additional disclosures on discontinued operations, refer to Note 11.</div><a name="anchorId00223040"></a><div style="font-family:arial,helvetica,sans-serif; font-size:18pt; color:#000000; font-weight: bold; margin-bottom:20px;margin-top:30px;">4. Summary of equity attributable to Novartis AG shareholders </div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="10px">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">       </div>
         </td>
         <td></td>
         <td align="center" colspan="3" height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Number of outstanding shares  (in millions)    </div>
         </td>
         <td></td>
         <td align="center" colspan="3" height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Issued share capital and  reserves attributable to   Novartis AG shareholders  (in USD millions)</div>
         </td>
         <td></td>
      </tr>
      <tr bgcolor="white">
         <td height="3"></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="3" height="3"></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 colspan="3" style="border-bottom: solid #000000 1px;"></td>
         <td height="1"></td>
         <td colspan="3" style="border-bottom: solid #000000 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 colspan="3" height="3"></td>
         <td height="1"></td>
         <td colspan="3" height="3"></td>
         <td height="1"></td>
      </tr>
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> Note</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> 2023</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> FY 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> FY 2023</div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="12" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Balance at beginning of year</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="8%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="8%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 2&nbsp;044.0</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="8%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 2&nbsp;119.6</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="8%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 46&nbsp;667</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="8%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 59&nbsp;342</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="12" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Shares acquired to be canceled</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="8%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="8%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -77.5</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="8%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -87.5</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="8%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -8&nbsp;316</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="8%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -8&nbsp;369</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="12" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other share purchases</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1.2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1.6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -134</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -148</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="12" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Equity-based compensation plans, exercise of options and employee transactions</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 9.7</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 13.2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;060</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;050</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="12" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Taxes on treasury share transactions</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -68</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 14</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="12" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Transaction costs, net of taxes</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 4.3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -214</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="12" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Dividends</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 4.1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -7&nbsp;624</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -7&nbsp;255</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="12" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Dividend in kind</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -13&nbsp;962</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="12" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Net income of the period attributable to shareholders of Novartis AG</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 11&nbsp;941</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 14&nbsp;850</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="12" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other comprehensive income attributable to shareholders of Novartis AG</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 592</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;200</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="12" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Changes in non-controlling interests</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -226</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="12" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other movements</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 4.4</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0.1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 0.3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 154</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 159</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="12" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Balance at end of year</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 1&nbsp;975.1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 2&nbsp;044.0</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 44&nbsp;046</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 46&nbsp;667</div>
         </td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
      </tr>
      <tr>
         <td colspan="12" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
   </table>
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">4.1. The gross dividend to shareholders of Novartis AG amounted to USD 7.6 billion. The net dividend payment to Novartis AG shareholders paid in March 2024
   amounted to USD 5.2 billion. The USD 2.4 billion Swiss withholding tax on the gross
   dividend was paid at its due date in April 2024.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">4.2. In December 2021, Novartis entered into an irrevocable, non-discretionary arrangement
   with a bank to repurchase Novartis shares on the second trading line under its up-to
   USD 15.0 billion share buyback. The arrangement was updated in July 2022, December 2022, and
   May 2023, and concluded in June 2023.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">In June 2023, Novartis entered into an irrevocable, non-discretionary arrangement
   with a bank to repurchase 11.7 million Novartis shares on the second trading line,
   which concluded in July 2023.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">In July 2023, Novartis entered into a new irrevocable, non-discretionary arrangement
   with a bank to repurchase Novartis shares on the second trading line under its new
   up-to USD 15.0 billion share buyback.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">In June 2024, Novartis amended the arrangement to include the repurchase of an additional
   8.7 million Novartis shares on the second trading line to mitigate the impact of the
   shares deliveries under the equity-based compensation plans for employees. These additional
   repurchases concluded in October 2024. Novartis was able to cancel this arrangement
   but could have been subject to a 90-day waiting period. As of December 31, 2024, and
   December 31, 2023, these
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">30</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">waiting period conditions were not applicable and as a result, there was no requirement
   to record a liability under this arrangement as of December 31, 2024, and December
   31, 2023.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">4.3. Transaction costs in 2023 of USD 214 million, net of tax of USD 29 million, that
   were directly attributable to the Distribution (spin-off) of Sandoz business to Novartis
   AG shareholders and that would otherwise have been avoided, were recorded as a deduction
   from equity (retained earnings).
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">4.4. Other movements include, for subsidiaries in hyperinflationary economies, the
   impact of the application of IAS Standards 29 &#x201c;Financial Reporting in Hyperinflationary
   Economies.&#x201d;
</div><a name="anchorId00223464"></a><div style="font-family:arial,helvetica,sans-serif; font-size:18pt; color:#000000; font-weight: bold; margin-bottom:20px;margin-top:30px;">5. Financial instruments </div><a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">Fair value by hierarchy</font></div>
<div style="padding-bottom:10px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The following table illustrates the three hierarchical levels for valuing financial
   instruments at fair value as of December 31, 2024, and December&nbsp;31, 2023. For additional information on the hierarchies and other matters, please
   refer to the Consolidated Financial Statements in the 2024 Annual Report, published
   on January 31, 2025.
</div>
<div style="padding-top:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;"> &nbsp;</div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="10px">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td></td>
         <td align="center" colspan="3" height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Level 1</div>
         </td>
         <td></td>
         <td align="center" colspan="3" height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Level 2</div>
         </td>
         <td></td>
         <td align="center" colspan="3" height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Level 3</div>
         </td>
         <td></td>
         <td align="center" colspan="3" height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Total</div>
         </td>
         <td></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>
         <td height="1"></td>
         <td height="1"></td>
         <td colspan="3" style="border-bottom: solid #000000 1px;"></td>
         <td height="1"></td>
         <td colspan="3" style="border-bottom: solid #000000 1px;"></td>
         <td height="1"></td>
         <td colspan="3" style="border-bottom: solid #000000 1px;"></td>
         <td height="1"></td>
         <td colspan="3" style="border-bottom: solid #000000 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 valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"><br>(USD millions)
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Dec 31, <br> 2024
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Dec 31, <br> 2023
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Dec 31, <br> 2024
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Dec 31, <br> 2023
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Dec 31, <br> 2024
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Dec 31, <br> 2023
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Dec 31, <br> 2024
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Dec 31, <br> 2023
            </div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Financial assets</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Cash and cash equivalents</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Debt securities</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 50</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 50</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 50</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 50</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total cash and cash equivalents at fair value</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 50</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 50</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 50</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 50</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Marketable securities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Derivative financial instruments</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 106</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 355</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 106</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 355</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total marketable securities and derivative  financial instruments at fair value</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   106</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   355</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   106</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   355</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Current contingent consideration receivables</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 120</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 65</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 120</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 65</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Current fund investments and equity securities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 24</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 94</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 18</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 31</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 42</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 125</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Long-term financial investments</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Debt and equity securities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 193</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 796</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 20</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 599</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 616</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 799</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;432</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Fund investments</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 15</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 7</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 195</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 183</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 210</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 190</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Non-current contingent consideration receivables</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 671</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 553</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 671</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 553</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total long-term financial investments at fair value</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 208</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 803</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 7</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 20</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 1&nbsp;465</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 1&nbsp;352</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 1&nbsp;680</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 2&nbsp;175</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Associated companies at fair value through profit or loss</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 109</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 101</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 109</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 101</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Financial liabilities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Current contingent consideration liabilities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -281</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -14</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -281</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -14</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Current other financial liabilities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -88</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -88</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Derivative financial instruments</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -143</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -91</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -143</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -91</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total current financial liabilities at fair value</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -91</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -281</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -102</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -424</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -193</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Non-current contingent consideration liabilities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -527</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -389</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -527</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -389</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="18">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
   </table>
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">In 2024, there were two transfers of equity securities from Level 3 to Level 1 for
   USD 19 million due to Initial Public Offering and lift of restrictions.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">The fair value of straight bonds amounted to USD 22.5 billion at December 31, 2024 (USD 19.2 billion at December 31, 2023) compared with the carrying amount of USD 24.1 billion
   at December 31, 2024 (USD 20.6 billion at December 31, 2023). For all other financial assets and liabilities, the
   carrying amount is a reasonable approximation of the fair value.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">The carrying amount of financial assets included in the line total long-term financial
   investments at fair value of USD 1.7 billion at December 31, 2024 (USD 2.2 billion at December 31, 2023) is included in the line&nbsp;&#x201c;Financial assets&#x201d; of the consolidated balance sheets. The carrying amount of financial
   assets included in the line current fund investments
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">31</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">and equity securities of USD 42 million at December 31, 2024 (USD 125 million at December 31, 2023) is included in the line&nbsp;&#x201c;Other current assets&#x201d; of the consolidated balance sheets. The carrying amount of
   non-current contingent consideration liabilities of USD 0.5 billion at December, 2024 (USD 0.4 billion at December 31, 2023) is included in the line &#x201c;Provisions and other non-current
   liabilities&#x201d; of the consolidated balance sheets.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">In 2024, the consolidated foundations&#x2019; investments in Sandoz Group AG shares were
   fully sold, and the USD 169 million gain on disposal was transferred from other comprehensive income to retained
   earnings.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">The Company&#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.
</div><a name="anchorId00224406"></a><div style="font-family:arial,helvetica,sans-serif; font-size:18pt; color:#000000; font-weight: bold; margin-bottom:20px;margin-top:30px;">6. Details to the consolidated statements of&nbsp;cash&nbsp;flows </div><a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">6.1. Non-cash items and other adjustments from continuing operations</font></div>
<div style="padding-top:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The following tables show the reversal of non-cash items and other adjustments in
   the consolidated statements of cash flows.
</div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">(USD millions)</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Q4 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q4 2023</div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Depreciation, amortization and impairments on:</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Property, plant and equipment</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 263</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 246</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Right-of-use assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 65</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 66</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Intangible assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;300</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;276</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Financial assets<sup style="white-space: nowrap">&nbsp;1</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 32</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 37</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Change in provisions and other non-current liabilities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 165</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -171</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">(Gains)/losses on disposal on property, plant and equipment; intangible assets; other
               non-current assets;  and other adjustments on financial assets and other non-current assets, net
            </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   -53</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   101</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Equity-settled compensation expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 272</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 248</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Loss from associated companies</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 6</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Income taxes</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 465</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -261</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Net financial expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 242</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 199</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -45</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 44</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 2&nbsp;709</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 1&nbsp;791</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="6">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="6">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</sup> Includes fair value changes
            </div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">(USD millions)</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> FY 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> FY 2023</div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Depreciation, amortization and impairments on:</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Property, plant and equipment</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 932</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;006</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Right-of-use assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 256</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 263</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Intangible assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 4&nbsp;881</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 7&nbsp;008</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Financial assets<sup style="white-space: nowrap">&nbsp;1</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 45</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 106</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Change in provisions and other non-current liabilities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 696</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 61</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Gains on disposal on property, plant and equipment; intangible assets; other non-current
               assets;  and other adjustments on financial assets and other non-current assets, net
            </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   -74</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   -180</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Equity-settled compensation expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;044</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 865</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Loss from associated companies</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 38</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 13</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Income taxes</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;701</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 551</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Net financial expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 866</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 633</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -153</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 43</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 10&nbsp;232</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 10&nbsp;369</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="6">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="6">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</sup> Includes fair value changes
            </div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">32</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">In 2024 and 2023, other than through business combinations, there were no additions
   to intangible assets with deferred payments.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">In 2024, there were USD 304 million (Q4 2024: USD 92 million) additions to right-of
   use assets recognized.
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">In 2023, there were USD 421 million (Q4 2023: USD 183 million) additions to right-of
   use assets recognized.
</div><a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">6.2. Total amount of income taxes paid</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">In 2024, income taxes paid by continuing operations and the total Company were USD
   2 258 million (Q4 2024: USD 924 million).  For discontinued operations, it was nil.
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">In 2023, income taxes paid by continuing operations were USD 2 787 million (Q4 2023: USD 1 093 million), and by discontinued operations were USD 162 million (Q4 2023: nil), which were included within &#x201c;Net cash flows from operating
   activities from discontinued operations.&#x201d; In 2023, income taxes paid by the total
   Company were USD 2 949 million (Q4 2023: USD 1 093 million).
</div><a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">6.3.</font><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;"> </font><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">Cash flows from changes in working capital and other operating items included in the
      net cash flows from operating activities from continuing operations</font></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">(USD millions)</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Q4 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q4 2023</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> FY 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> FY 2023</div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">(Increase)/decrease in inventories</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -169</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 33</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -225</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -546</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Decrease/(increase) in trade receivables</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 162</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -240</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -931</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1&nbsp;504</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Increase/(decrease) in trade payables</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 555</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 564</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -105</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 479</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Change in other current and non-current assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -73</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -41</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -502</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -125</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Change in other current liabilities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -470</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -700</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;057</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;327</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -384</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -706</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -369</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 3px;"></td>
      </tr>
   </table>
</div><a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">6.4. Cash flows arising from acquisitions and divestments of businesses, net from
      continuing operations</font></div>
<div style="padding-top:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The following table is a summary of the cash flow impact of acquisitions and divestments
   of businesses.
</div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">(USD millions)</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Q4 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q4 2023</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> FY 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> FY 2023</div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total purchase consideration for acquisitions of businesses</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -518</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -3</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -4&nbsp;629</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -3&nbsp;925</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Acquired cash and cash equivalents</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 242</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 226</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Fair value of previously held equity interests</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 26</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Contingent consideration payable, net</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 91</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -7</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 377</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 146</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Payments, deferred consideration and other adjustments, net</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -8</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -34</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Cash flows used for acquisitions of businesses<sup style="white-space: nowrap">&nbsp;1</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -426</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -4&nbsp;018</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -3&nbsp;561</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Cash flows from/(used for) divestments of businesses, net<sup style="white-space: nowrap">&nbsp;2</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 164</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 107</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 3</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Cash flows used for acquisitions and divestments of businesses, net</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -262</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -8</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -3&nbsp;911</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -3&nbsp;558</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="10">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="10">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</sup> 2024 includes the payments for purchases of MorphoSys shares by Novartis during the
               Offer period totaling EUR 0.3 billion (USD 0.3 billion), see Note 3 for further information
               (Q4 2024: nil). Also included in 2024, is a payment of EUR 53 million (USD 58 million)
               in relation to the MorphoSys acquisition (Q4 2024: nil).
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="10">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;2&nbsp;</sup> In 2024, USD 107 million (Q4 2024: USD 164 million) represented the net cash inflows
               from divestments made during that year and in previous years.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="10">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;">&nbsp;&nbsp;&nbsp;<sup>&nbsp;</sup> In 2024, the net identifiable assets of divested businesses amounted to USD 142 million
               (Q4 2024: USD 142 million), comprised of non-current assets of USD 159 million (Q4
               2024: USD 159 million), current assets of USD 48 million (Q4 2024: USD 48 million),
               including USD 8 million (Q4 2024: USD 8 million) cash and cash equivalents and of
               non-current and current liabilities of USD 65 million (Q4 2024: USD 65 million).
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="10">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;">&nbsp;&nbsp;&nbsp;<sup>&nbsp;</sup> In 2023, USD 3 million (Q4 2023: USD 2 million net cash outflows) represented the
               net cash inflows from divestments in prior years.
            </div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">Note 3 provides further information regarding significant acquisitions and divestments
   of businesses. All acquisitions were for cash.
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">33</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name="anchorId00225284"></a><div style="font-family:arial,helvetica,sans-serif; font-size:18pt; color:#000000; font-weight: bold; margin-bottom:20px;margin-top:30px;">7. Legal proceedings update</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,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 Company 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 21 to the Consolidated Financial Statements in our 2023 Annual Report
   and 2023 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 January 30, 2025, of significant developments in those proceedings,
   as well as any new significant proceedings commenced since the date of the 2023 Annual
   Report and 2023 Form 20-F.
</div><a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">Investigations and related litigations</font></div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">340B Drug Pricing Program investigations</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">In 2021, Novartis Pharmaceuticals Corporation (NPC) received a notification from the
   US Health Resources and Services Administration (HRSA) which stated that HRSA believes
   NPC&#x2019;s contract pharmacy policy violates the 340B statute, and threatened potential
   enforcement action. NPC subsequently sued HRSA in the U.S. District Court (USDC) for
   the District of Columbia to challenge HRSA&#x2019;s determination and to enjoin HRSA from
   taking action with respect to NPC&#x2019;s contract pharmacy policy. HRSA then referred the
   matter regarding NPC&#x2019;s contract pharmacy policy to the Office of Inspector General
   of the US Department of Health and Human Services, which could result in the imposition
   of civil monetary penalties on NPC. The court issued a decision rejecting HRSA&#x2019;s interpretation
   of the 340B statute, vacating the violation notification and remanding the matter
   to HRSA. HRSA appealed, and the US Court of Appeals for the DC Circuit heard oral
   argument on the case in 2022. In May 2024, the US Court of Appeals for the DC Circuit
   issued a decision rejecting HRSA&#x2019;s interpretation of the 340B statute and upholding
   NPC&#x2019;s contract pharmacy policy. HRSA did not seek review from the US Supreme Court,
   and the decision is now final.
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">NPC has brought litigation challenging a number of state statutes purporting to add
   further obligations on manufacturers under the federal 340B program as to the use
   of contract pharmacies in those states. NPC has also brought litigation challenging
   the federal government&#x2019;s refusal to allow NPC to apply a rebate payment model for
   the 340B program.
</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Swiss and EU investigation</font></div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">In September 2022, the Swiss Competition Commission (COMCO) initiated an investigation
   of the acquisition of certain patents by Novartis from Genentech in April 2020 and
   their subsequent enforcement against Eli Lilly and other parties, allegedly in an
   attempt to protect <i>Cosentyx</i> from competing products. COMCO investigated whether enforcement of the patents violated
   the Swiss Cartel Act. The European Commission also requested information from Novartis
   regarding this matter. COMCO and the EC have both formally closed their investigations
   with no findings and both stated that they have not found any indication of anticompetitive
   conduct.
</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Inflation Reduction Act (IRA) litigation</font></div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">In 2023, following the US government&#x2019;s selection of Entresto for the first round of
   the IRA&#x2019;s &#x201c;Medicare Drug Price Negotiation Program,&#x201d; NPC filed a complaint in the
   US District Court (USDC) for the District of New Jersey on the grounds that those
   drug price-setting provisions are unconstitutional under the First, Fifth and Eighth
   Amendments to the U.S. Constitution. In October 2024, the court granted the government&#x2019;s
   motion for summary judgment. NPC has appealed to the Third Circuit.
</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Southern District of New York (S.D.N.Y.) Gilenya marketing practices investigation
      and litigation</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">In 2013, Novartis Pharmaceuticals Corporation (NPC) received a civil investigative
   demand from the United States Attorney&#x2019;s Office for the S.D.N.Y. requesting the production
   of documents and information relating to marketing practices for <i>Gilenya</i>, including the remuneration of healthcare providers in connection therewith. In 2017,
   the S.D.N.Y. and New York State declined to intervene in claims raised by an individual
   relator in a qui tam complaint. In 2022, NPC&#x2019;s motion to dismiss this complaint was
   granted. In December 2024, the appeals court affirmed in part but remanded in part,
   sending the case back to the district court for further proceedings. The claims are
   being vigorously contested.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">In addition to the matters described above, there have been other non-material developments
   in the other legal matters described in Note 21 to the Consolidated Financial Statements
   contained in our 2023 Annual Report and 2023 Form 20-F.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Novartis believes that its total provisions for investigations, product liability,
   arbitration and other legal matters are adequate based upon currently available information.
   However, given the inherent difficulties in estimating liabilities, there can be no
   assurance that additional liabilities and costs will not be incurred beyond the amounts
   provided.
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">34</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name="anchorId00225321"></a><div style="font-family:arial,helvetica,sans-serif; font-size:18pt; color:#000000; font-weight: bold; margin-bottom:20px;margin-top:30px;">8. Operating segment </div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">Following the September 15, 2023, shareholders&#x2019; approval of the spin-off of the Sandoz
   business, the Company reported its consolidated financial statements for the current
   and prior years as &#x201c;continuing operations&#x201d; and &#x201c;discontinued operations&#x201d; (see Note
   1 and Note 3).
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">Continuing operations include the retained business activities of Novartis, comprising
   the innovative medicines business (previously the Innovative Medicines Division) and
   the continuing corporate activities.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">Discontinued operations include the Sandoz generic pharmaceuticals and biosimilars
   business (the Sandoz Division) and certain corporate activities attributable to Sandoz&#x2019;s
   business, as well as certain expenses related to the spin-off. Included in the fourth
   quarter of 2023 is also the IFRS Accounting Standards non-cash, non-taxable net gain
   on the Distribution of Sandoz Group AG to Novartis AG shareholders. For further details
   and disclosures on discontinued operations, refer to Note 3 and Note 11.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">The Company&#x2019;s continuing operations is engaged in the research, development, manufacturing,
   distribution, and commercialization and sale of innovative medicines, with a focus
   on the core therapeutic areas: cardiovascular, renal and metabolic; immunology; neuroscience;
   oncology; and established brands.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">Following the spin-off of the Sandoz business, on October 3, 2023, Novartis operates
   as a single global operating segment innovative medicines company that is engaged
   in the research, development, manufacturing, distribution and commercialization and
   sale of innovative medicines. The Company&#x2019;s research, development, manufacturing and
   supply of products and functional activities are managed globally on a vertically
   integrated basis. Commercial efforts that coordinate marketing, sales and distribution
   of these products are organized by geographic region, therapeutic area and established
   brands.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">The Executive Committee of Novartis (ECN), chaired by the CEO, is the governance body
   responsible for allocating resources and assessing the business performance of the
   operating segment of the Company on a global basis and is the chief operating decision-maker
   (CODM) for the Company.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">The determination of a single operating segment is consistent with the financial information
   regularly reviewed by the CODM for purposes of assessing performance and allocating
   resources.
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">See Note 9 for revenues and geographic information disclosures.</div><a name="anchorId00225339"></a><div style="font-family:arial,helvetica,sans-serif; font-size:18pt; color:#000000; font-weight: bold; margin-bottom:20px;margin-top:30px;">9. Revenues and geographic information</div><a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">Net sales </font></div><a name=""></a><div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Net sales information</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">Net sales from continuing operations comprise the following:</div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">(USD millions)</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Q4 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q4 2023</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> FY 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> FY 2023</div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net sales to third parties from continuing operations</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 13&nbsp;153</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 11&nbsp;423</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 50&nbsp;317</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 44&nbsp;635</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Sales to discontinued operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 805</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net sales from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 13&nbsp;153</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 11&nbsp;423</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 50&nbsp;317</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 45&nbsp;440</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 3px;"></td>
      </tr>
   </table>
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">35</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Net sales from continuing operations by region<sup>1</sup></font></div>
<div style="padding-top:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>Fourth quarter</b></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Q4 2024<br> USD m
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q4 2023<br> USD m
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> % change<br> USD
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> % change<br> cc<sup style="white-space: nowrap">  2</sup></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Q4 2024<br> % of total
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q4 2023<br> % of total
            </div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;US</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6&nbsp;002</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 4&nbsp;763</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 26</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 26</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 46</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 42</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Europe</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3&nbsp;962</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 3&nbsp;716</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 8</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 30</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 33</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Asia/Africa/Australasia</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;313</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2&nbsp;231</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 4</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 18</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 20</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Canada and Latin America</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 876</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 713</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 23</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 23</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 5</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 13&nbsp;153</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 11&nbsp;423</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 15</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 16</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 100</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 100</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">&nbsp;&nbsp;&nbsp;Of which in established markets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 10&nbsp;209</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 8&nbsp;655</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 18</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 18</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 78</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 76</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">&nbsp;&nbsp;&nbsp;Of which in emerging growth markets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;944</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2&nbsp;768</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 9</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 22</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 24</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom">
         <td colspan="14">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</sup> Net sales from continuing operations by location of customer. Emerging growth markets
               comprise all markets other than the established markets of the US, Canada, Western
               Europe, Japan, Australia and New Zealand. Novartis definition of Western Europe includes
               Austria, Belgium, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Luxembourg,
               Malta, The Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, and the United
               Kingdom.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="14">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;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 47.
            </div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-top:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>Full year</b></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> FY 2024<br> USD m
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> FY 2023<br> USD m
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> % change<br> USD
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> % change<br> cc<sup style="white-space: nowrap">  2</sup></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> FY 2024<br> % of total
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> FY 2023<br> % of total
            </div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;US</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 21&nbsp;146</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 17&nbsp;959</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 18</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 18</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 42</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 40</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Europe</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 15&nbsp;557</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 14&nbsp;997</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 4</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 31</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 33</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Asia/Africa/Australasia</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 10&nbsp;021</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 9&nbsp;308</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 8</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 11</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 20</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 20</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Canada and Latin America</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3&nbsp;593</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 3&nbsp;176</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 13</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 17</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 7</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 50&nbsp;317</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 45&nbsp;440</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 11</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 12</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 100</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 100</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">&nbsp;&nbsp;&nbsp;Of which in established markets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 37&nbsp;371</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 33&nbsp;725</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 11</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 11</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 74</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 74</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">&nbsp;&nbsp;&nbsp;Of which in emerging growth markets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 12&nbsp;946</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 11&nbsp;715</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 11</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 15</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 26</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 26</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="14">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="14">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</sup> Net sales from continuing operations by location of customer. Emerging growth markets
               comprise all markets other than the established markets of the US, Canada, Western
               Europe, Japan, Australia and New Zealand. Novartis definition of Western Europe includes
               Austria, Belgium, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Luxembourg,
               Malta, The Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, and the United
               Kingdom.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="14">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;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 47.
            </div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">36</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Net sales from continuing operations by core therapeutic area and established brands
      </font></div>
<div style="padding-top:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>Fourth quarter</b></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Q4 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q4 2023</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> % change</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> % change</div>
         </td>
         <td></td>
      </tr>
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> USD m<sup style="white-space: nowrap"> 1</sup></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> USD</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> cc<sup style="white-space: nowrap"> 2</sup></div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Cardiovascular, renal and metabolic</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Entresto</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;180</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;635</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 33</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 34</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Leqvio</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 223</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 123</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 81</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 83</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total cardiovascular, renal and metabolic</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 2&nbsp;403</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 1&nbsp;758</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 37</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 38</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="10px">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Immunology</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Cosentyx</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;596</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;303</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 22</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 24</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Xolair<sup style="white-space: nowrap">&nbsp;3</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 399</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 378</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 9</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Ilaris</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 413</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 376</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 10</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 11</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total immunology</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 2&nbsp;408</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 2&nbsp;057</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 17</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 19</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="10px">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Neuroscience</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Kesimpta</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 950</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 641</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 48</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 49</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Zolgensma</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 262</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 286</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -8</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -6</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Aimovig</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 80</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 69</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 16</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 16</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total neuroscience</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 1&nbsp;292</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 996</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 30</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 31</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="10px">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Oncology</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Kisqali</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 902</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 610</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 48</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 52</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Promacta/Revolade</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 583</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 563</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 4</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 5</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"><I>Tafinlar</I> + <I>Mekinist</I></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 527</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 486</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 8</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 10</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Jakavi</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 487</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 444</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 10</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 13</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Tasigna</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 411</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 446</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -8</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -6</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Pluvicto</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 351</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 273</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 29</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 28</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Lutathera</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 190</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 147</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 29</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 30</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Scemblix</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 207</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 125</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 66</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 66</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Piqray/Vijoice</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 109</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 131</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -17</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -16</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Kymriah</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 108</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 120</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -10</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -10</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Fabhalta<sup style="white-space: nowrap">&nbsp;4</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 57</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> nm</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> nm</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total oncology</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 3&nbsp;932</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 3&nbsp;346</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 18</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 19</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="10px">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Established brands</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"><I>Sandostatin</I> Group</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 306</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 316</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Lucentis</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 210</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 301</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -30</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -29</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"><I>Exforge</I> Group</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 159</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 156</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 8</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"><I>Galvus</I> Group</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 144</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 153</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"><I>Diovan</I> Group</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 140</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 147</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Gilenya</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 109</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 154</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -29</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -26</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Contract manufacturing</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 323</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 302</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 8</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;727</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;737</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -5</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total established brands</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 3&nbsp;118</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 3&nbsp;266</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -5</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total net sales from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 13&nbsp;153</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 11&nbsp;423</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 15</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 16</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="10">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="10">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</sup> Reclassified to conform with 2024 presentation of brands by therapeutic area and established
               brands.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="10">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;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 47.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="10">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;3&nbsp;</sup> Net sales from continuing operations reflect <I>Xolair</I> sales for all indications.<b></b><b></b><b></b><b></b><b></b><b></b><b></b></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="10">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;4&nbsp;</sup> Net sales from continuing operations reflect <I>Fabhalta</I> sales for all indications.<b></b><b></b><b></b><b></b><b></b><b></b><b></b></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="10">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;">&nbsp;&nbsp;&nbsp;<sup>&nbsp;</sup></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="10">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">nm = not meaningful</div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">37</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Net sales from continuing operations by core therapeutic area and established brands
      </font></div>
<div style="padding-top:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>Full year</b></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> FY 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> FY 2023</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> % change</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> % change</div>
         </td>
         <td></td>
      </tr>
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> USD m<sup style="white-space: nowrap"> 1</sup></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> USD</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> cc<sup style="white-space: nowrap"> 2</sup></div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Cardiovascular, renal and metabolic</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Entresto</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7&nbsp;822</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 6&nbsp;035</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 30</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 31</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Leqvio</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 754</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 355</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 112</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 114</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total cardiovascular, renal and metabolic</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 8&nbsp;576</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 6&nbsp;390</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 34</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 36</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="10px">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Immunology</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Cosentyx</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6&nbsp;141</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 4&nbsp;980</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 23</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 25</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Xolair<sup style="white-space: nowrap">&nbsp;3</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;643</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;463</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 12</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 15</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Ilaris</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;509</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;355</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 11</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 14</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total immunology</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 9&nbsp;293</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 7&nbsp;798</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 19</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 21</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="10px">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Neuroscience</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Kesimpta</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3&nbsp;224</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2&nbsp;171</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 49</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 49</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Zolgensma</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;214</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;214</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Aimovig</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 312</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 266</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 17</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 18</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total neuroscience</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 4&nbsp;750</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 3&nbsp;651</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 30</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 31</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="10px">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Oncology</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Kisqali</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3&nbsp;033</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2&nbsp;080</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 46</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 49</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Promacta/Revolade</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;216</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2&nbsp;269</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"><I>Tafinlar</I> + <I>Mekinist</I></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;058</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;922</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 9</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Jakavi</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;936</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;720</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 13</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 15</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Tasigna</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;671</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;848</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -10</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -8</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Pluvicto</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;392</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 980</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 42</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 42</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Lutathera</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 724</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 605</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 20</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 20</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Scemblix</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 689</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 413</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 67</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 68</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Piqray/Vijoice</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 449</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 505</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -11</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -11</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Kymriah</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 443</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 508</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -13</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -12</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Fabhalta<sup style="white-space: nowrap">&nbsp;4</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 129</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> nm</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> nm</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total oncology</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 14&nbsp;740</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 12&nbsp;851</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 15</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 16</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="10px">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Established brands</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"><I>Sandostatin</I> Group</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;279</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;314</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Lucentis</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;044</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;475</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -29</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -28</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"><I>Exforge</I> Group</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 703</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 713</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"><I>Galvus</I> Group</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 602</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 692</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -13</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -6</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"><I>Diovan</I> Group</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 590</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 613</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -4</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Gilenya</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 552</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 925</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -40</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -39</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Contract manufacturing</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;152</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;490</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -23</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -22</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7&nbsp;036</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 7&nbsp;528</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -7</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -7</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total established brands</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 12&nbsp;958</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 14&nbsp;750</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -12</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -11</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total net sales from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 50&nbsp;317</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 45&nbsp;440</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 11</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 12</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="10">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="10">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</sup> Reclassified to conform with 2024 presentation of brands by therapeutic area and established
               brands.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="10">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;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 47.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="10">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;3&nbsp;</sup> Net sales from continuing operations reflect <I>Xolair</I> sales for all indications.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="10">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;4&nbsp;</sup> Net sales from continuing operations reflect <I>Fabhalta</I> sales for all indications.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="10">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;">&nbsp;&nbsp;&nbsp;<sup>&nbsp;</sup></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="10">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">nm = not meaningful</div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">38</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Net sales from continuing operations of the top 20 brands in 2024</font></div>
<div style="padding-top:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>Fourth quarter</b></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="10px">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
         </td>
         <td></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
         </td>
         <td></td>
         <td align="center" colspan="3" height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> US</div>
         </td>
         <td></td>
         <td align="center" colspan="5" height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> Rest of world</div>
         </td>
         <td></td>
         <td align="center" colspan="5" height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Total</div>
         </td>
         <td></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>
         <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 #000000 1px;"></td>
         <td height="1"></td>
         <td colspan="5" style="border-bottom: solid #000000 1px;"></td>
         <td height="1"></td>
         <td colspan="5" style="border-bottom: solid #000000 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 valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Brands</div>
         </td>
         <td></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Brand classification by  therapeutic area or  established brands</div>
         </td>
         <td></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;">     Key indications</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">     USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> %   change  USD/cc<sup style="white-space: nowrap">   1</sup></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">     USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> %   change  USD</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> %   change  cc<sup style="white-space: nowrap">   1</sup></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">     USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> %   change  USD</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> %   change  cc<sup style="white-space: nowrap">   1</sup></div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td width="12%" height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Entresto</div>
         </td>
         <td align="right" width="1%"></td>
         <td width="12%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Cardiovascular,   renal and metabolic</div>
         </td>
         <td align="right" width="1%"></td>
         <td width="12%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Chronic heart failure,  hypertension</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="4%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;245  </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="4%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 41  </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="4%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 935  </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="4%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 24  </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="4%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 26  </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="4%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;180  </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="4%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 33  </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="4%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 34  </div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Cosentyx</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Immunology            </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Psoriasis (PsO),   ankylosing spondylitis  (AS), psoriatic arthritis   (PsA), non-radiographic   axial spondyloarthritis   (nr-axSPA), hidradenitis  suppurativa (HS)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;008            </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 36            </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 588            </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 5            </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7            </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;596            </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 22            </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 24            </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Kesimpta</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Neuroscience  </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Relapsing forms of   multiple sclerosis (MS)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 642  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 42  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 308  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 64  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 67  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 950  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 48  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 49  </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Kisqali</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Oncology    </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> HR+/HER2- metastatic   breast cancer and   early breast cancer</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 549    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 65    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 353    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 27    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 34    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 902    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 48    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 52    </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Promacta/Revolade</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Oncology    </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Immune   thrombocytopenia (ITP),   severe aplastic anemia (SAA)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 326    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 8    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 257    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 583    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 4    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 5    </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"><I>Tafinlar</I> + <I>Mekinist</I></div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Oncology          </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> BRAF V600+ metastatic and   adjuvant melanoma, advanced   non-small cell lung cancer   (NSCLC), tumor agnostic with   BRAF mutation indication,   pediatric low grade glioma (pLGG)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 235          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 18          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 292          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 5          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 527          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 8          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 10          </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Jakavi</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Oncology    </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Myelofibrosis (MF), polycythemia  vera (PV), graft-versus-host   disease (GvHD)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">     </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">     </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 487    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 10    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 13    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 487    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 10    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 13    </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Tasigna</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Oncology  </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Chronic myeloid leukemia  (CML)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 218  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 193  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -15  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -12  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 411  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -8  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -6  </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Xolair<sup style="white-space: nowrap">&nbsp;2</sup></div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Immunology      </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Severe allergic asthma (SAA),   chronic spontaneous urticaria   (CSU), nasal polyps,  food allergy (FA)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">       </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">       </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 399      </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6      </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 9      </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 399      </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6      </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 9      </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Ilaris</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Immunology    </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Auto-inflammatory (CAPS,  TRAPS, HIDS/MKD, FMF,  SJIA, AOSD, gout)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 233    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 17    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 180    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 413    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 10    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 11    </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Pluvicto</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Oncology    </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> PSMA-positive mCRPC   patients post-ARPI,   post-Taxane</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 280    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 12    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 71    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 223    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 220    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 351    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 29    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 28    </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"><I>Sandostatin</I> Group</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Established brands  </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Carcinoid tumors,  acromegaly</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 192  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -4  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 114  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -3  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 306  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -3  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1  </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Zolgensma</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Neuroscience  </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Spinal muscular atrophy  (SMA)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 96  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 166  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -15  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -12  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 262  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -8  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -6  </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Lucentis</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Established brands      </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Age-related   macular degeneration (AMD),   diabetic macular edema (DME),  retinal vein occlusion (RVO)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">       </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">       </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 210      </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -30      </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -29      </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 210      </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -30      </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -29      </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Leqvio</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Cardiovascular,   renal and metabolic  </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Atherosclerotic   cardiovascular disease  (ASCVD)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 116    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 68    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 107    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 98    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 99    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 223    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 81    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 83    </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Lutathera</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Oncology    </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> GEP-NETs   gastroenteropancreatic   neuroendocrine tumors</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 138    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 34    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 52    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 18    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 22    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 190    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 29    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 30    </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"><I>Exforge</I> Group</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Established brands</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Hypertension</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 157</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 8</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 159</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 8</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Scemblix</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Oncology          </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Philadelphia   chromosome-positive   chronic myeloid leukemia   (Ph+ CML) in chronic phase  (CP); Ph+ CML in CP with  the T315I mutation</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 131          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 60          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 76          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 77          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 80          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 207          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 66          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 66          </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"><I>Galvus</I> Group</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Established brands  </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Type 2 diabetes  (RMS)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 144  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -6  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 144  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -6  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2  </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"><I>Diovan</I> Group</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Established brands</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Hypertension</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -50</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 133</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 140</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td colspan="5" height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Top 20 brands total</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 5&nbsp;418</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 31</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 5&nbsp;222</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 9</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 13</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 10&nbsp;640</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 19</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 21</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td colspan="5" height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Rest of portfolio</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 584</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -7</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;929</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;513</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td colspan="5" height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total net sales from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 6&nbsp;002</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 26</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 7&nbsp;151</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 7</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 9</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 13&nbsp;153</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 15</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 16</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="top">
         <td height="10px" colspan="22">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="top">
         <td colspan="22">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&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 47.
            </div>
         </td>
      </tr>
      <tr valign="top">
         <td colspan="22">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;2&nbsp;</sup> Net sales from continuing operations reflect <I>Xolair</I> sales for all indications.
            </div>
         </td>
      </tr>
      <tr valign="top">
         <td height="10px" colspan="22">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">39</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Net sales from continuing operations of the top 20 brands in 2024</font></div>
<div style="padding-top:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>Full year</b></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="10px">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
         </td>
         <td></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
         </td>
         <td></td>
         <td align="center" colspan="3" height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> US</div>
         </td>
         <td></td>
         <td align="center" colspan="5" height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> Rest of world</div>
         </td>
         <td></td>
         <td align="center" colspan="5" height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Total</div>
         </td>
         <td></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>
         <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 #000000 1px;"></td>
         <td height="1"></td>
         <td colspan="5" style="border-bottom: solid #000000 1px;"></td>
         <td height="1"></td>
         <td colspan="5" style="border-bottom: solid #000000 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 valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Brands</div>
         </td>
         <td></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Brand classification by  therapeutic area or  established brands</div>
         </td>
         <td></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;">     Key indications</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">     USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> %   change  USD/cc<sup style="white-space: nowrap">   1</sup></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">     USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> %   change  USD</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> %   change  cc<sup style="white-space: nowrap">   1</sup></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">     USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> %   change  USD</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> %   change  cc<sup style="white-space: nowrap">   1</sup></div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td width="12%" height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Entresto</div>
         </td>
         <td align="right" width="1%"></td>
         <td width="12%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Cardiovascular,   renal and metabolic</div>
         </td>
         <td align="right" width="1%"></td>
         <td width="12%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Chronic heart failure,  hypertension</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="4%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 4&nbsp;052  </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="4%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 32  </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="4%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3&nbsp;770  </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="4%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 27  </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="4%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 30  </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="4%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7&nbsp;822  </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="4%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 30  </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="4%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 31  </div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Cosentyx</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Immunology            </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Psoriasis (PsO),   ankylosing spondylitis  (AS), psoriatic arthritis   (PsA), non-radiographic   axial spondyloarthritis   (nr-axSPA), hidradenitis  suppurativa (HS)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3&nbsp;530            </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 34            </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;611            </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 11            </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 14            </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6&nbsp;141            </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 23            </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 25            </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Kesimpta</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Neuroscience  </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Relapsing forms of   multiple sclerosis (MS)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;183  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 43  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;041  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 62  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 65  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3&nbsp;224  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 49  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 49  </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Kisqali</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Oncology    </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> HR+/HER2- metastatic   breast cancer and   early breast cancer</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;678    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 63    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;355    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 29    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 36    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3&nbsp;033    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 46    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 49    </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Promacta/Revolade</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Oncology    </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Immune   thrombocytopenia (ITP),   severe aplastic anemia (SAA)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;181    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;035    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -3    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;216    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1    </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"><I>Tafinlar</I> + <I>Mekinist</I></div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Oncology          </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> BRAF V600+ metastatic and   adjuvant melanoma, advanced   non-small cell lung cancer   (NSCLC), tumor agnostic with   BRAF mutation indication,   pediatric low grade glioma (pLGG)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 848          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;210          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 10          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;058          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 9          </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Jakavi</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Oncology    </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Myelofibrosis (MF), polycythemia  vera (PV), graft-versus-host   disease (GvHD)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">     </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">     </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;936    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 13    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 15    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;936    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 13    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 15    </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Tasigna</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Oncology  </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Chronic myeloid leukemia  (CML)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 848  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -4  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 823  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -15  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -12  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;671  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -10  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -8  </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Xolair<sup style="white-space: nowrap">&nbsp;2</sup></div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Immunology      </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Severe allergic asthma (SAA),   chronic spontaneous urticaria   (CSU), nasal polyps,  food allergy (FA)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">       </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">       </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;643      </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 12      </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 15      </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;643      </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 12      </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 15      </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Ilaris</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Immunology    </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Auto-inflammatory (CAPS,  TRAPS, HIDS/MKD, FMF,  SJIA, AOSD, gout)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 798    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 16    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 711    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 12    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;509    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 11    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 14    </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Pluvicto</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Oncology    </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> PSMA-positive mCRPC   patients post-ARPI,   post-Taxane</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;157    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 26    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 235    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 298    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 296    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;392    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 42    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 42    </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"><I>Sandostatin</I> Group</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Established brands  </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Carcinoid tumors,  acromegaly</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 805  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -3  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 474  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;279  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -3  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1  </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Zolgensma</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Neuroscience  </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Spinal muscular atrophy  (SMA)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 435  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 17  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 779  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -7  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -5  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;214  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2  </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Lucentis</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Established brands      </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Age-related   macular degeneration (AMD),   diabetic macular edema (DME),  retinal vein occlusion (RVO)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">       </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">       </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;044      </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -29      </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -28      </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;044      </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -29      </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -28      </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Leqvio</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Cardiovascular,   renal and metabolic  </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Atherosclerotic   cardiovascular disease  (ASCVD)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 385    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 88    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 369    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 146    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 148    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 754    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 112    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 114    </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Lutathera</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Oncology    </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> GEP-NETs   gastroenteropancreatic   neuroendocrine tumors</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 513    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 20    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 211    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 19    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 20    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 724    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 20    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 20    </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"><I>Exforge</I> Group</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Established brands</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Hypertension</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 8</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -38</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 695</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 703</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Scemblix</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Oncology          </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Philadelphia   chromosome-positive   chronic myeloid leukemia   (Ph+ CML) in chronic phase  (CP); Ph+ CML in CP with  the T315I mutation</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 436          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 48          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 253          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 113          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 116          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 689          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 67          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 68          </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"><I>Galvus</I> Group</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Established brands  </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Type 2 diabetes  (RMS)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 602  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -13  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -6  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 602  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -13  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -6  </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"><I>Diovan</I> Group</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Established brands</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Hypertension</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 28</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -46</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 562</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 590</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -4</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td colspan="5" height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Top 20 brands total</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 18&nbsp;885</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 26</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 21&nbsp;359</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 11</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 14</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 40&nbsp;244</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 18</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 19</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td colspan="5" height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Rest of portfolio</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;261</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -25</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7&nbsp;812</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 10&nbsp;073</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -10</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -10</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td colspan="5" height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total net sales from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 21&nbsp;146</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 18</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 29&nbsp;171</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 8</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 50&nbsp;317</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 11</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 12</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="top">
         <td height="10px" colspan="22">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="top">
         <td colspan="22">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&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 47.
            </div>
         </td>
      </tr>
      <tr valign="top">
         <td colspan="22">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;2&nbsp;</sup> Net sales from continuing operations reflect <I>Xolair</I> sales for all indications.
            </div>
         </td>
      </tr>
      <tr valign="top">
         <td height="10px" colspan="22">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">40</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">Other revenues </font></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">(USD millions)</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Q4 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q4 2023</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> FY 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> FY 2023</div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Profit sharing income</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 305</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 245</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;063</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 941</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Royalty income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 24</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 37</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 87</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Milestone income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 10</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 28</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 45</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other<sup style="white-space: nowrap">&nbsp;1</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 91</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 74</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 277</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 147</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total other revenues</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 405</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 353</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 1&nbsp;405</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 1&nbsp;220</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="10">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"><b></b></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="10">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;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 to third parties from continuing
               operations.
            </div>
         </td>
      </tr>
   </table>
</div><a name="anchorId00234301"></a><div style="font-family:arial,helvetica,sans-serif; font-size:18pt; color:#000000; font-weight: bold; margin-bottom:20px;margin-top:30px;">10. Other interim disclosures</div><a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">Property, plant and equipment, right-of-use assets and intangible assets </font></div>
<div style="padding-top:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The following table shows additional disclosures related to property, plant and equipment,
   right-of-use assets and intangible assets for continuing operations:
</div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">(USD millions)</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Q4 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q4 2023</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> FY 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> FY 2023</div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Property, plant and equipment impairment charges</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -36</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -21</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -48</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -106</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Property, plant and equipment impairment reversal</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 16</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Property, plant and equipment depreciation charge</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -228</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -230</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -885</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -916</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Right-of-use assets impairment charges</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -4</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Right-of-use assets impairment reversal</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Right-of-use assets depreciation charge</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -66</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -64</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -257</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -259</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Intangible assets impairment charges<sup style="white-space: nowrap">&nbsp;1</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -428</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -383</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1&nbsp;433</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -3&nbsp;048</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Intangible assets impairment reversal</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 9</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Intangible assets amortization charge</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -872</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -893</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -3&nbsp;457</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -3&nbsp;960</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="10">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="10">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</sup> 2024 impairment charge included the write-down of IPR&amp;D on the cessation of clinical
               research and clinical development programs and a USD 0.9 billion impairment of goodwill
               attributable to the MorphoSys business acquired. See Note 3 &#x2013; Acquisition of MorphoSys
               AG for additional information.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="10">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;">&nbsp;&nbsp;&nbsp;<sup>&nbsp;</sup> 2023 impairment charge included the write-down of IPR&amp;D on the cessation of clinical
               development programs, including the clinical development program PPY988 (USD 1.0 billion),
               which was acquired with the 2022 acquisition of Gyroscope Therapeutics Holdings plc
               (See Note 3), VDT482 (USD 0.4 billion) and MBG453 (USD 0.3 billion), and the clinical
               research program NIZ985 (USD 0.3 billion); as well as the write-down of a currently
               marketed product by USD 0.3 billion to reflect reduction in its recoverable amount.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="10">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;">&nbsp;&nbsp;&nbsp;<sup>&nbsp;</sup></div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-top:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The following table shows the additions to property, plant and equipment, right-of-use
   assets and intangible assets for continuing operations excluding the impact of business
   acquisitions, which are disclosed in Note 3:
</div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">(USD millions)</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Q4 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q4 2023</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> FY 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> FY 2023</div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Additions to property, plant and equipment</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 499</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 417</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;384</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;065</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Additions to right-of-use assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 92</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 183</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 304</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 421</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Additions to intangible assets other than goodwill</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 631</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 543</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;143</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;576</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
   </table>
</div><a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">Other non-current assets</font></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"><br>(USD millions)
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Dec 31, <br> 2024
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Dec 31, <br> 2023
            </div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Deferred compensation plans</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 479</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 439</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Prepaid post-employment benefit plans</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;604</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 545</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other non-current assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 422</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 215</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total other non-current assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 3&nbsp;505</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 1&nbsp;199</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 3px;"></td>
      </tr>
   </table>
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">41</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">Non-current financial debt</font></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"><br>(USD millions)
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Dec 31, <br> 2024
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Dec 31, <br> 2023
            </div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Straight bonds</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 24&nbsp;112</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 20&nbsp;585</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other bonds<sup style="white-space: nowrap">&nbsp;1</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 523</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total bonds</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 24&nbsp;635</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 20&nbsp;585</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other financial debt</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 87</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 42</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total, including current portion of non-current financial debt</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 24&nbsp;722</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 20&nbsp;627</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Less current portion of non-current financial debt</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -3&nbsp;356</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -2&nbsp;191</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total non-current financial debt</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 21&nbsp;366</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 18&nbsp;436</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="6">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="6">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</sup> Other bonds average interest rate 5.3%
            </div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-top:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The following table provides a breakdown of straight bonds:</div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"><br>Coupon
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> <br> <br> <br> <br> <br> Currency
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> <br> <br> <br> Notional <br> amount<br> (millions)
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> <br> <br> <br> <br> Issuance <br> year
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> <br> <br> <br> <br> Maturity <br> year
            </div>
         </td>
         <td></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> <br> <br> <br> <br> <br> Issuer
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> <br> <br> <br> <br> <br> Issue price
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Carrying<br> value<br> Dec 31,<br> 2024 <br> (USD<br> millions)
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Carrying<br> value<br> Dec 31,<br> 2023 <br> (USD<br> millions)
            </div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">3.700%</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> USD</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 500</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2012</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2042</div>
         </td>
         <td align="right" width="1%"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Novartis Capital Corporation, New York, United States</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 98.325%</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 491</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 491</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">3.400%<sup style="white-space: nowrap">&nbsp;1</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> USD</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;150</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2014</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2024</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Novartis Capital Corporation, New York, United States</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 99.287%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;150</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">4.400%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> USD</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;850</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2014</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2044</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Novartis Capital Corporation, New York, United States</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 99.196%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;828</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;828</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">1.625%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> EUR</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 600</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2014</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2026</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Novartis Finance S.A., Luxembourg, Luxembourg</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 99.697%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 624</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 663</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">0.250%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> CHF</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 500</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2015</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2025</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Novartis AG, Basel, Switzerland</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 100.640%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 553</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 595</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">0.625%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> CHF</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 550</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2015</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2029</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Novartis AG, Basel, Switzerland</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 100.502%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 609</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 654</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">1.050%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> CHF</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 325</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2015</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2035</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Novartis AG, Basel, Switzerland</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 100.479%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 360</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 387</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">3.000%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> USD</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;750</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2015</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2025</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Novartis Capital Corporation, New York, United States</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 99.010%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;748</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;745</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">4.000%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> USD</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;250</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2015</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2045</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Novartis Capital Corporation, New York, United States</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 98.029%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;223</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;222</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">0.625%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> EUR</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 500</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2016</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2028</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Novartis Finance S.A., Luxembourg, Luxembourg</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 98.480%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 518</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 549</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">3.100%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> USD</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;000</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2017</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2027</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Novartis Capital Corporation, New York, United States</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 99.109%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 997</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 995</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">1.125%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> EUR</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 600</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2017</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2027</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Novartis Finance S.A., Luxembourg, Luxembourg</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 99.874%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 624</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 662</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">1.375%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> EUR</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 750</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2018</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2030</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Novartis Finance S.A., Luxembourg, Luxembourg</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 99.957%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 779</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 828</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">1.700%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> EUR</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 750</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2018</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2038</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Novartis Finance S.A., Luxembourg, Luxembourg</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 99.217%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 774</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 823</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">1.750%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> USD</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;000</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2020</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2025</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Novartis Capital Corporation, New York, United States</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 99.852%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;000</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 999</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">2.000%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> USD</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;250</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2020</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2027</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Novartis Capital Corporation, New York, United States</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 99.909%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;248</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;247</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">2.200%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> USD</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;500</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2020</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2030</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Novartis Capital Corporation, New York, United States</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 99.869%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;496</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;495</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">2.750%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> USD</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;250</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2020</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2050</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Novartis Capital Corporation, New York, United States</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 97.712%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;217</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;216</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">0.000%<sup style="white-space: nowrap">&nbsp;2</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> EUR</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;850</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2020</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2028</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Novartis Finance S.A., Luxembourg, Luxembourg</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 99.354%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;918</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;036</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">1.600%<sup style="white-space: nowrap">&nbsp;3</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> CHF</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 650</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2024</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2027</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Novartis AG, Basel, Switzerland</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 100.138%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 719</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">1.650%<sup style="white-space: nowrap">&nbsp;3</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> CHF</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 435</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2024</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2031</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Novartis AG, Basel, Switzerland</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 100.148%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 481</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">1.750%<sup style="white-space: nowrap">&nbsp;3</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> CHF</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 645</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2024</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2034</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Novartis AG, Basel, Switzerland</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 100.229%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 714</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">1.850%<sup style="white-space: nowrap">&nbsp;3</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> CHF</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 280</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2024</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2040</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Novartis AG, Basel, Switzerland</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 100.268%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 310</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">1.850%<sup style="white-space: nowrap">&nbsp;3</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> CHF</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 190</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2024</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2049</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Novartis AG, Basel, Switzerland</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 100.149%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 210</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">3.800%<sup style="white-space: nowrap">&nbsp;4</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> USD</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;000</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2024</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2029</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Novartis Capital Corporation, New York, United States</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 99.757%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 995</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">4.000%<sup style="white-space: nowrap">&nbsp;4</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> USD</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 850</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2024</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2031</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Novartis Capital Corporation, New York, United States</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 99.565%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 844</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">4.200%<sup style="white-space: nowrap">&nbsp;4</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> USD</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;100</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2024</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2034</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Novartis Capital Corporation, New York, United States</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 99.282%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;088</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">4.700%<sup style="white-space: nowrap">&nbsp;4</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> USD</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 750</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2024</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2054</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Novartis Capital Corporation, New York, United States</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 99.936%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 744</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total straight bonds</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 24&nbsp;112</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 20&nbsp;585</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="18">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="18">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</sup> Novartis repaid the bond in the second quarter of 2024 in accordance with its terms.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="18">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;2&nbsp;</sup> The EUR 1 850 million bond issued in 2020 features a coupon step-up of 0.25% commencing
               with the first interest payment date after December 31, 2025, if one or both of the
               2025 Patient Access Targets are not met. These 2025 Patient Access Targets are the
               2025 Flagship Programs Patient Reach Target and the 2025 Strategic Innovative Therapies
               Patient Reach Target, as defined in the bond prospectus. As of September 30, 2024,
               there is no indication that these 2025 Patient Access Targets will not be met.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="18">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;3&nbsp;</sup> Novartis issued these bonds in the second quarter of 2024.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="18">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;4&nbsp;</sup> Novartis issued these bonds in the third quarter of 2024.
            </div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">In May 2024, Novartis replaced its existing USD 6.0 billion credit facility with a syndicate of banks (which was undrawn at its replacement
   date and December 31, 2023 and had a maturity date of September 2025) with a new USD
   6.0 billion credit facility with a syndicate of banks. This credit facility is intended
   to be used as a backstop for the US commercial paper program. This facility matures
   in May 2029, and was undrawn as at December 31, 2024.
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">42</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">Current financial debt and derivative financial instruments</font></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"><br>(USD millions)
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Dec 31,<br> 2024
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Dec 31,<br> 2023
            </div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Bank and other financial debt<sup style="white-space: nowrap">&nbsp;1</sup></div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 642</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 624</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Commercial paper</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 4&nbsp;091</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 3&nbsp;269</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Current portion of non-current financial debt</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3&nbsp;356</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2&nbsp;191</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Derivative financial instruments</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 143</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 91</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total current financial debt and derivative  financial instruments</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   8&nbsp;232</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   6&nbsp;175</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="6">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="6">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</sup> Weighted average interest rate during the year 2024:  20.8 % (2023:  13.2 %)
            </div>
         </td>
      </tr>
   </table>
</div><a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">Commitments</font></div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Research and development commitments</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The Company has entered into long-term research and development agreements with various
   institutions related to intangible assets. These agreements provide for potential
   milestone payments by Novartis, which are dependent on successful clinical development,
   or meeting speci&#xfb01;ed sales targets, or other conditions that are speci&#xfb01;ed in the agreements.

</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">As of December 31, 2024, the amount and estimated timing of the Company&#x2019;s commitments
   to make payments under those agreements, which are shown without risk adjustment and
   on an undiscounted basis, were as follows:
</div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">(USD millions)</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> 2024</div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">2025</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="20%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 135</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">2026</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 402</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">2027</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 739</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">2028</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 746</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">2029</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 653</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Thereafter</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 8&nbsp;123</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 10&nbsp;798</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 3px;"></td>
      </tr>
   </table>
</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Other commitments </font></div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The Company routinely acquires interests in intellectual property focused on key disease
   areas and indications that the Company expects to be growth drivers in the future.
   The Company has a commitment related to a long-term research and development agreement
   that was entered into in the fourth quarter in 2024 that closed on January 11, 2025,
   totaling USD 1.9 billion, of which USD 1.0 billion was paid on January 17, 2025.
</div><a name="anchorId00236362"></a><div style="font-family:arial,helvetica,sans-serif; font-size:18pt; color:#000000; font-weight: bold; margin-bottom:20px;margin-top:30px;">11. Discontinued operations</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">Discontinued operations included the operational results from the Sandoz generic pharmaceuticals
   and biosimilars division and certain corporate activities attributable to the Sandoz
   business, as well as certain other expenses related to the spin-off. Also included
   in 2023 is the IFRS Accounting Standards non-cash, non-taxable net gain on the distribution
   of Sandoz Group AG to Novartis AG shareholders (refer to Note 3 for further details).

</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">The Sandoz business operated in the off-patent medicines segment and specialized in
   the development, manufacturing, and marketing of generic pharmaceuticals and biosimilars.
   The Sandoz business was organized globally into two franchises: Generics and Biosimilars.
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">As the Sandoz business spin-off was completed on October 3, 2023, there were no operating
   results in 2024 related to discontinued operations.
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">43</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">Net income from discontinued operations</font></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">(USD millions unless indicated otherwise)</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q4 2023</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> FY 2023<sup style="white-space: nowrap"> 1</sup></div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net sales to third parties from discontinued operations</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 7&nbsp;128</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Sales to continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 300</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net sales from discontinued operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 7&nbsp;428</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other revenues</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 19</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Cost from goods sold</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -4&nbsp;044</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Gross profit from discontinued operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 3&nbsp;403</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Selling, general and administration</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1&nbsp;728</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Research and development</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -671</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 56</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -795</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Operating income from discontinued operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 265</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Income from associated companies</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Interest expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -33</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other financial income and expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -20</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Income before taxes from discontinued operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 214</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Income taxes<sup style="white-space: nowrap">&nbsp;2</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -18</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 208</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net (loss)/income from discontinued operations before gain  on distribution from Sandoz Group AG to Novartis AG shareholders</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   -18</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   422</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Gain on distribution from Sandoz Group AG to Novartis AG shareholders<sup style="white-space: nowrap">&nbsp;3</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 5&nbsp;860</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 5&nbsp;860</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net income from discontinued operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 5&nbsp;842</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 6&nbsp;282</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="6">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="6">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</sup> The net income from discontinued operations for 2023 is for the period from January
               1, 2023, to the October 3, 2023, Distribution date.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="6">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;2&nbsp;</sup> The tax rate in 2023 was impacted by non-recurring items such as tax benefits arising
               from intercompany transactions to effect the spin-off of the Sandoz business, net
               decreases in uncertain tax positions of the Sandoz business and the favorable settlement
               of a tax matter related to the Alcon business, which was spun-off in 2019. Excluding
               these impacts, the tax rate would have been 31.2% in 2023. The tax expense in the
               fourth quarter 2023 mainly arose from transactions to effect the spin-off of the Sandoz
               business.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="6">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;3&nbsp;</sup> See Note 3 for further details on the non-taxable, non-cash gain on distribution of
               Sandoz Group AG to Novartis AG shareholders.
            </div>
         </td>
      </tr>
   </table>
</div><a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">Supplemental disclosures related to discontinued operations</font></div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Net income from discontinued operations</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">Included in net income from discontinued operations were:</div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">(USD millions unless indicated otherwise)</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> FY 2023<sup style="white-space: nowrap"> 1</sup></div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Interest income</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="20%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Depreciation of property, plant and equipment</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -144</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Depreciation of right-of-use assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -32</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Amortization of intangible assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -171</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Impairment charges on property, plant and equipment</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -5</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Impairment charges on right-of-use assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -8</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Impairment charges on intangible assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -44</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Impairment reversals of property, plant and equipment</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Additions to restructuring provisions</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -27</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Equity-based compensation expense related to Novartis equity-based participation plans</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -60</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="4">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="4">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</sup> 2023 amounts are for the period from January 1, 2023, to the October 3, 2023, Distribution
               date.
            </div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">In 2023 there were no reversals of impairment charges on right-of-use assets or on intangible assets of
   discontinued operations.
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">44</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Financial debt</font></div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">Sandoz business entered into financing agreements with a group of banks under which
   it borrowed on September 28, 2023, a total amount of USD 3.3 billion. See Note 3 for
   further disclosures.
</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Net cash flows used in investing activities from discontinued operations</font></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">(USD millions)</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q4 2023</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> FY 2023</div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Payments out of provisions for transaction  costs attributable to the spin-off of the  Sandoz business</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">     -52</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">     -52</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Derecognized cash and cash equivalents attributable to the spin-off of the  Sandoz business</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">     -686</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">     -686</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other cash flows used in investing activities, net</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   -385</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net cash flows used in investing activities from discontinued operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   -738</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   -1&nbsp;123</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 3px;"></td>
      </tr>
   </table>
</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Net cash flows from financing activities from discontinued operations</font></div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">In 2023, the net cash inflows from financing activities from discontinued operations
   of USD 3.3 billion (Q4 2023: USD 111 million net cash outflows) were mainly driven
   by USD 3.6 billion (Q4 2023: nil) cash inflows from bank borrowings (including the
   USD 3.3 billion Sandoz business borrowings from a group of banks on September 28,
   2023, Q4 2023: nil) in connection with the Distribution (spin-off) of the Sandoz business
   to Novartis AG shareholders, partly offset by transaction cost payments of USD 0.2
   billion (Q4 2023: USD 0.1 billion) directly attributable to the Distribution (spin-off)
   of the Sandoz business (see Note 3).
</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Other information</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The following table shows for discontinued operations the additions to property, plant
   and equipment, right-of-use assets and intangible assets:
</div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">(USD millions)</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> FY 2023<sup style="white-space: nowrap"> 1</sup></div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Additions to property, plant and equipment</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="20%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 245</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Additions to right-of-use assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 66</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Additions to goodwill and intangible assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 221</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="4">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="4">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</sup> The additions for 2023 are for the period from January 1, 2023, to the October 3,
               2023, Distribution date.
            </div>
         </td>
      </tr>
   </table>
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">For additional information related to the October 3, 2023, distribution (spin-off)
   of the Sandoz business to Novartis AG shareholders, effected through a dividend in
   kind distribution of Sandoz Group AG shares to Novartis AG shareholders and ADR holders,
   refer to Note 3.
</div>
<div style="padding-bottom:10px;"></div>
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   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">45</font><div style="padding-bottom:10px;"></div>
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</div><a name="anchorId00236957"></a><div style="font-family:arial,helvetica,sans-serif; font-size:18pt; color:#000000; font-weight: bold; margin-bottom:20px;margin-top:30px;">12. Events subsequent to the December 31, 2024, consolidated balance sheet</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Dividend proposal for 2024 and approval of Novartis 2024 consolidated financial statements</font></div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">On January 30, 2025, the Novartis AG Board of Directors proposed the acceptance of
   the 2024 consolidated financial statements of Novartis for approval by the Annual
   General Meeting on March 7, 2025. Furthermore, also on January 30, 2025, the Board
   proposed a dividend of CHF 3.50 per share to be approved at the Annual General Meeting
   on March 7, 2025. If approved, the total dividend payments would amount to approximately
   USD 7.6 billion (2023: USD 7.6 billion), using the CHF/USD December 31, 2024, exchange
   rate.
</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Significant transaction closed in January 2025</font></div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">In the fourth quarter of 2024, Novartis entered into a long-term research and development
   agreement which closed on January 11, 2025. For additional information see Note 10.
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">46</font><div style="padding-bottom:10px;"></div>
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</div><a name="anchorId00236969"></a><p style="font-family:arial,helvetica,sans-serif; font-size:24pt; color:#000000; font-weight:bold;">Supplementary information (unaudited)</p><a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">Non-IFRS measures as defined by Novartis</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">Novartis uses certain non-IFRS Accounting Standards metrics when measuring performance,
   especially when measuring current-year results against prior periods, including core
   results, constant currencies and free cash flow. These are referred to by Novartis
   as non-IFRS measures.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">Despite the use of these measures by management in setting goals and measuring the
   Company&#x2019;s performance, these are non-IFRS measures that have no standardized meaning
   prescribed by IFRS Accounting Standards. As a result, such measures have limits in
   their usefulness to investors.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">Because of their non-standardized definitions, the non-IFRS measures (unlike IFRS
   Accounting Standards measures) may not be comparable to the calculation of similar
   measures of other companies. These non-IFRS measures are presented solely to permit
   investors to more fully understand how the Company&#x2019;s management assesses underlying
   performance. These non-IFRS measures are not, and should not be viewed as, a substitute
   for IFRS Accounting Standards measures and should be viewed in conjunction with the
   consolidated financial statements presented in accordance with IFRS Accounting Standards.
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">As an internal measure of Company performance, these non-IFRS measures have limitations,
   and the Company&#x2019;s performance management process is not solely restricted to these
   metrics.
</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Core results</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The Company&#x2019;s core results &ndash; including core operating income, core net income and core earnings per share &ndash; 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, impact of IAS Standards 29 &#x201c;Financial Reporting
   in Hyperinflationary Economies&#x201d; to other financial income and expense, and certain
   acquisition- and divestment-related items. The following items that exceed a threshold
   of USD&nbsp;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, software, and financial assets,
   and income and expense items that management deems exceptional and that are or are
   expected to accumulate within the year to be over a USD&nbsp;25 million threshold.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">Novartis believes that investor understanding of the Company&#x2019;s performance is enhanced
   by disclosing core measures of performance since, core measures exclude items that
   can vary significantly from year to year, they enable better comparison of business
   performance across years. For this same reason, Novartis uses these core measures
   in addition to IFRS Accounting Standards measures and other measures as important
   factors in assessing the Company&#x2019;s performance.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">The following are examples of how these core measures are used:</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt;color:#000000;margin-bottom:0mm;margin-left:9px;margin-right:0mm;margin-top:0mm;text-indent:-9px;">&#x2022; In addition to monthly reports containing financial information prepared under IFRS
   Accounting Standards, senior management receives a monthly analysis incorporating
   these non-IFRS core measures.
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt;color:#000000;margin-bottom:0mm;margin-left:9px;margin-right:0mm;margin-top:0mm;text-indent:-9px;">&#x2022; Annual budgets are prepared for both IFRS Accounting Standards and non-IFRS core measures.</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">As an internal measure of Company performance, the core results measures have limitations,
   and the Company&#x2019;s performance management process is not solely restricted to these
   metrics. A limitation of the core results measures is that they provide a view of
   the Company&#x2019;s operations without including all events during a period, such as the
   effects of an acquisition, divestment, or amortization/impairments of intangible assets,
   impairments to property, plant and equipment and restructurings and related items.

</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Constant currencies</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">Changes in the relative values of non-US currencies to the US dollar can affect the
   Company&#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.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">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:
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt;color:#000000;margin-bottom:0mm;margin-left:9px;margin-right:0mm;margin-top:0mm;text-indent:-9px;">&#x2022; The impact of translating the income statements of consolidated entities from their
   non-USD functional currencies to USD
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt;color:#000000;margin-bottom:0mm;margin-left:9px;margin-right:0mm;margin-top:0mm;text-indent:-9px;">&#x2022; The impact of exchange rate movements on the major transactions of consolidated entities
   performed in currencies other than their functional currency.
</div>
<div style="font-family:arial,helvetica,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 (excluding the
   IAS Standards 29 &#x201c;Financial Reporting in Hyperinflationary Economies&#x201d; adjustments
   to the local currency income statements of subsidiaries operating in hyperinflationary
   economies), using the average exchange rates from the prior year and comparing them
   to the prior year values in USD.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">We use these constant currency measures in evaluating the Company&#x2019;s performance, since
   they may assist us in evaluating our ongoing performance from year to year. However,
   in performing our evaluation,
</div>
<div style="padding-bottom:10px;"></div>
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   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">47</font><div style="padding-bottom:10px;"></div>
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   <div style="padding-bottom:30px;"></div>
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">we also consider equivalent measures of performance that are not affected by changes
   in the relative value of currencies.
</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Growth rate calculation</font></div>
<div style="padding-bottom:15px;font-family:arial,helvetica,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 with the prior year is shown
   as a positive growth.
</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Free cash flow </font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">Novartis defines free cash flow as net cash flows from operating activities less purchases
   of property, plant and equipment. Management believes that this definition provides
   a performance measure that focuses on core operating activities, and also excludes
   items that can vary significantly from year to year, thereby enabling better comparison
   of business performance across years.
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">Free cash flow is a non-IFRS measure, which means it should not be interpreted as
   a measure determined under IFRS Accounting Standards. Free cash flow is not intended
   to be a substitute measure for net cash flows from operating activities as determined
   under IFRS Accounting Standards. Free cash flow is presented as additional information
   because management believes it is a useful supplemental indicator of the Company&#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 investment
   in strategic opportunities, returning to shareholders and for debt repayment.
</div><a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">Additional information</font></div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Net debt</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">Novartis calculates net debt as current financial debts and derivative financial instruments
   plus non-current financial debts less cash and cash equivalents and marketable securities,
   commodities, time deposits and derivative financial instruments.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">Net debt is presented as additional information because it sets forth how management
   monitors net debt or liquidity and management believes it is a useful supplemental
   indicator of the Company&#x2019;s ability to pay dividends, to meet financial commitments,
   and to invest in new strategic opportunities, including strengthening its balance
   sheet.
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">See page 56 for additional disclosures related to net debt.</div>
<div style="padding-bottom:10px;"></div>
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   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">48</font><div style="padding-bottom:10px;"></div>
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</div><a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">Reconciliation from IFRS Accounting Standards results to non-IFRS measure core results</font></div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The following tables provide an overview of the reconciliation from IFRS Accounting
   Standards results to non-IFRS measure core results:
</div><a name=""></a><div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Reconciliation from IFRS Accounting Standards results to non-IFRS measure core results
      &ndash; Total Company</font></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">(USD millions unless indicated otherwise)</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Q4 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q4 2023</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> FY 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> FY 2023</div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">IFRS Accounting Standards operating income from continuing operations</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 3&nbsp;530</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 2&nbsp;582</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 14&nbsp;544</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 9&nbsp;769</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Amortization of intangible assets</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 800</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 834</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 3&nbsp;174</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 3&nbsp;730</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Impairments</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Intangible assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 405</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 380</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;401</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 3&nbsp;044</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Property, plant and equipment related to the company-wide   rationalization of manufacturing sites</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   18</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   18</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   5</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Other property, plant and equipment</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 9</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 39</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total impairment charges</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 425</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 388</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 1&nbsp;428</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 3&nbsp;088</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Acquisition or divestment of businesses and related items</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;- Income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -143</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -110</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -458</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -174</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;- Expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 128</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 126</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 483</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 149</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total acquisition or divestment of businesses and related items, net</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -15</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 16</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 25</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -25</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other items</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Divestment gains</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -45</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -225</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Financial assets - fair value adjustments</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 32</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 36</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 45</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 105</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Restructuring and related items</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;- Income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -17</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -75</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -123</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -229</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;- Expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 152</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 229</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 487</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;180</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Legal-related items</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;- Income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -124</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -608</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;- Expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 35</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 89</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 66</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Additional income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -78</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -163</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -183</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -602</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Additional expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 29</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 66</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 53</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 123</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total other items</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 119</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 323</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -190</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total adjustments</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 1&nbsp;329</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 1&nbsp;239</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 4&nbsp;950</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 6&nbsp;603</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Core operating income from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 4&nbsp;859</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 3&nbsp;821</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 19&nbsp;494</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 16&nbsp;372</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">as % of net sales</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> 36.9%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#666666;"> 33.5%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> 38.7%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#666666;"> 36.0%</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Loss from associated companies</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -38</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -13</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Core adjustments to loss from associated companies, net of tax</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 26</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Interest expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -275</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -217</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1&nbsp;006</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -855</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other financial income and expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 33</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 18</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 140</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 222</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Core adjustments to other financial income and expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 50</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 119</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 155</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 208</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Income taxes, adjusted for above items (core income taxes)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -731</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -609</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -3&nbsp;016</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -2&nbsp;488</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Core net income from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 3&nbsp;933</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 3&nbsp;126</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 15&nbsp;755</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 13&nbsp;446</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Core net income from discontinued operations<sup style="white-space: nowrap">&nbsp;1</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 889</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Core net income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 3&nbsp;933</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 3&nbsp;126</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 15&nbsp;755</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 14&nbsp;335</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Core net income attributable to shareholders of Novartis AG</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 3&nbsp;932</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 3&nbsp;126</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 15&nbsp;757</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 14&nbsp;331</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Core basic EPS  from continuing operations (USD)<sup style="white-space: nowrap">&nbsp;2</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 1.98</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 1.53</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 7.81</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 6.47</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Core basic EPS from discontinued operations (USD)<sup style="white-space: nowrap">&nbsp;1, 2</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 0.43</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Core basic EPS (USD)<sup style="white-space: nowrap">&nbsp;2</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 1.98</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 1.53</div>
         </td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 7.81</div>
         </td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 6.90</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="10">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="10">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</sup> For details on discontinued operations core results refer to page 52.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="10">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;2&nbsp;</sup> Core earnings per share (EPS) is calculated by dividing core net income attributable
               to shareholders of Novartis AG by the weighted average number of shares used in the
               basic EPS calculation outstanding in a reporting period.
            </div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">49</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Reconciliation from IFRS Accounting Standards results to non-IFRS measure core results
      &ndash; Total Company</font></div>
<div style="padding-top:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>Fourth quarter</b></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"><br>(USD millions unless indicated otherwise)
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Q4 2024<br> IFRS<br> Accounting <br> Standards <br> results
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> <br> <br> Amortization <br> of intangible<br> assets<sup style="white-space: nowrap">     1</sup></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> <br> <br> <br> <br> Impairments<sup style="white-space: nowrap">     2</sup></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> <br> Acquisition or <br> divestment of <br> businesses and<br> related items<sup style="white-space: nowrap">     3</sup></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> <br> <br> <br> Other <br> items<sup style="white-space: nowrap">     4</sup></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> <br> <br> <br> Q4 2024<br> Core results
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#666666;"> <br> <br> <br> Q4 2023<br> Core results
            </div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Gross profit from continuing operations</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="6%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 10&nbsp;234</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="6%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 730</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="6%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="6%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="6%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 10</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="6%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 10&nbsp;974</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="6%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 9&nbsp;579</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Operating income from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 3&nbsp;530</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 800</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 425</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -15</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 119</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 4&nbsp;859</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 3&nbsp;821</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Income before taxes from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 3&nbsp;285</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 800</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 425</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -15</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 169</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 4&nbsp;664</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 3&nbsp;735</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Income taxes<sup style="white-space: nowrap">&nbsp;5</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -465</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -153</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -48</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -64</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -731</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -609</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td style="border-bottom: solid #000000 2px;"></td>
         <td style="border-bottom: solid #000000 2px;"></td>
         <td style="border-bottom: solid #000000 2px;"></td>
         <td style="border-bottom: solid #000000 2px;"></td>
         <td style="border-bottom: solid #000000 2px;"></td>
         <td style="border-bottom: solid #000000 2px;"></td>
         <td style="border-bottom: solid #000000 2px;"></td>
         <td style="border-bottom: solid #000000 2px;"></td>
         <td style="border-bottom: solid #000000 2px;"></td>
         <td style="border-bottom: solid #000000 2px;"></td>
         <td style="border-bottom: solid #000000 2px;"></td>
         <td style="border-bottom: solid #000000 2px;"></td>
         <td style="border-bottom: solid #000000 2px;"></td>
         <td style="border-bottom: solid #000000 2px;"></td>
         <td style="border-bottom: solid #000000 2px;"></td>
         <td style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net income from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 2&nbsp;820</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 3&nbsp;933</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 3&nbsp;126</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 2&nbsp;820</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 3&nbsp;933</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 3&nbsp;126</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td style="border-bottom: solid #000000 2px;"></td>
         <td style="border-bottom: solid #000000 2px;"></td>
         <td style="border-bottom: solid #000000 2px;"></td>
         <td style="border-bottom: solid #000000 2px;"></td>
         <td style="border-bottom: solid #000000 2px;"></td>
         <td style="border-bottom: solid #000000 2px;"></td>
         <td style="border-bottom: solid #000000 2px;"></td>
         <td style="border-bottom: solid #000000 2px;"></td>
         <td style="border-bottom: solid #000000 2px;"></td>
         <td style="border-bottom: solid #000000 2px;"></td>
         <td style="border-bottom: solid #000000 2px;"></td>
         <td style="border-bottom: solid #000000 2px;"></td>
         <td style="border-bottom: solid #000000 2px;"></td>
         <td style="border-bottom: solid #000000 2px;"></td>
         <td style="border-bottom: solid #000000 2px;"></td>
         <td style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Basic EPS  from continuing operations (USD)<sup style="white-space: nowrap">&nbsp;6</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 1.42</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 1.98</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 1.53</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Basic EPS (USD)<sup style="white-space: nowrap">&nbsp;6</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 1.42</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 1.98</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 1.53</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom">
         <td bgcolor="#ffffff" height="16px" colspan="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">        </div>
         </td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">The following are adjustments to arrive at core gross profit from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Cost of goods sold</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -3&nbsp;324</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 730</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 10</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2&nbsp;584</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -2&nbsp;197</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom">
         <td bgcolor="#ffffff" height="16px" colspan="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">             </div>
         </td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">The following are adjustments to arrive at core operating income from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Research and development</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2&nbsp;842</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 70</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 295</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -25</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2&nbsp;502</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -2&nbsp;231</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 298</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -143</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -128</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 26</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 73</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -659</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 131</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 128</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 262</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -138</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -156</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom">
         <td bgcolor="#ffffff" height="16px" colspan="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">             </div>
         </td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">The following are adjustments to arrive at core income before taxes from continuing
               operations
            </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other financial income and expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 33</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 50</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 83</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 137</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">      </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</sup> Amortization of intangible assets: cost of goods sold includes the amortization of
               acquired rights to currently marketed products; research and development includes
               the amortization of acquired rights to technologies
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;2&nbsp;</sup> Impairments: research and development includes net impairment charges related to intangible
               assets; other income and other expense includes net impairment charges related to
               property, plant and equipment; other expense also includes a goodwill impairment
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;3&nbsp;</sup> Acquisition or divestment of businesses and related items, including integration charges:
               other expense includes integration cost charges and expenses related to the Sandoz
               distribution; other income includes divestment gains and adjustments to provisions;
               other income and other expense include transitional service-fee income
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;4&nbsp;</sup> Other items: cost of goods sold, other income and other expense include restructuring
               income and charges related to the initiative to implement a new streamlined organizational
               model, the company-wide rationalization of manufacturing sites and other net restructuring
               charges and related items; cost of goods sold includes contingent consideration adjustments;
               other income and other expense include fair value adjustments on financial assets
               and a curtailment adjustment; other income also includes an adjustment to environmental
               provisions and a fair value adjustment on a contingent receivable; other expense includes
               adjustments to environmental provisions; other financial income and expense includes
               the impact of IAS Standards 29 "Financial Reporting in Hyperinflationary Economies"
               for subsidiaries operating in hyperinflationary economies
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;5&nbsp;</sup> Taxes on the adjustments between IFRS  Accounting Standards and core results, for
               each item included in the adjustment, take into account 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 other than goodwill 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 1.4 billion to arrive at the core results
               before tax amounts to USD 266 million and the average tax rate on the total adjustments
               was 19.3%.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;6&nbsp;</sup> Core earnings per share (EPS) is calculated by dividing core net income attributable
               to shareholders of Novartis AG by the weighted average number of shares used in the
               basic EPS calculation outstanding in a reporting period.
            </div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">50</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Reconciliation from IFRS Accounting Standards results to non-IFRS measure core results
      &ndash; Total Company</font></div>
<div style="padding-top:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>Full year</b></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"><br>(USD millions unless indicated otherwise)
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> FY 2024<br> IFRS <br> Accounting <br> Standards<br> results
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> <br> <br> Amortization <br> of intangible <br> assets<sup style="white-space: nowrap">     1</sup></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> <br> <br> <br> <br> Impairments<sup style="white-space: nowrap">     2</sup></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> <br> Acquisition or <br> divestment of <br> businesses and<br> related items<sup style="white-space: nowrap">     3</sup></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> <br> <br> <br> Other <br> items<sup style="white-space: nowrap">     4</sup></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> <br> <br> <br> FY 2024<br> Core results
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#666666;"> <br> <br> <br> FY 2023<br> Core results
            </div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Gross profit from continuing operations</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="6%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 38&nbsp;895</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="6%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 2&nbsp;965</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="6%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -9</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="6%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="6%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 21</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="6%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 41&nbsp;872</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="6%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 37&nbsp;959</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Operating income from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 14&nbsp;544</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 3&nbsp;174</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 1&nbsp;428</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 25</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 323</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 19&nbsp;494</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 16&nbsp;372</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Income before taxes from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 13&nbsp;640</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 3&nbsp;174</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 1&nbsp;428</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 25</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 504</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 18&nbsp;771</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 15&nbsp;934</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Income taxes<sup style="white-space: nowrap">&nbsp;5</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1&nbsp;701</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -592</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -74</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -8</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -641</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -3&nbsp;016</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -2&nbsp;488</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net income from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 11&nbsp;939</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 15&nbsp;755</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 13&nbsp;446</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Net income from discontinued operations<sup style="white-space: nowrap">&nbsp;6</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 889</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 11&nbsp;939</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 15&nbsp;755</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 14&nbsp;335</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Basic EPS  from continuing operations (USD)<sup style="white-space: nowrap">&nbsp;6</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 5.92</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 7.81</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 6.47</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Basic EPS from discontinued operations (USD)<sup style="white-space: nowrap">&nbsp;7</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 0.43</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Basic EPS (USD)<sup style="white-space: nowrap">&nbsp;6</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 5.92</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 7.81</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 6.90</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom">
         <td bgcolor="#ffffff" height="16px" colspan="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">             </div>
         </td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">The following are adjustments to arrive at core gross profit from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Cost of goods sold</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -12&nbsp;827</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;965</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -9</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 21</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -9&nbsp;850</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -8&nbsp;701</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom">
         <td bgcolor="#ffffff" height="16px" colspan="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">             </div>
         </td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">The following are adjustments to arrive at core operating income from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Selling, general and administration</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -12&nbsp;566</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -12&nbsp;564</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -12&nbsp;489</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Research and development</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -10&nbsp;022</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 209</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 500</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 23</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -12</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -9&nbsp;302</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -8&nbsp;600</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;175</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -458</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -443</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 273</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 392</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2&nbsp;938</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 938</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 460</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 755</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -785</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -890</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom">
         <td bgcolor="#ffffff" height="16px" colspan="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">             </div>
         </td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">The following are adjustments to arrive at core income before taxes from continuing
               operations
            </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Loss from associated companies</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -38</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 26</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -12</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -13</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other financial income and expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 140</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 155</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 295</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 430</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</sup> Amortization of intangible assets: cost of goods sold includes the amortization of
               acquired rights to currently marketed products; research and development includes
               the amortization of acquired rights to scientific infrastructure and technologies
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;2&nbsp;</sup> Impairments: cost of goods sold and research and development include net impairment
               charges related to intangible assets; other income and other expense include net impairment
               charges related to property, plant and equipment; other expense also includes a goodwill
               impairment
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;3&nbsp;</sup> Acquisition or divestment of businesses and related items, including integration charges:
               research and development and other expense include integration cost charges; other
               income includes divestment gains; other income and other expense include transitional
               service-fee income and expenses related to the Sandoz distribution, and adjustments
               to provisions
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;4&nbsp;</sup> Other items: cost of goods sold, selling, general and administration, research and
               development, other income and other expense include restructuring income and charges
               related to the initiative to implement a new streamlined organizational model, the
               company-wide rationalization of manufacturing sites and other net restructuring charges
               and related items; cost of goods sold and research and development also include contingent
               consideration adjustments; other income and other expense include adjustments to environmental
               provisions, fair value adjustments on financial assets, a fair value adjustment on
               a contingent receivable and other costs and items; other income also includes divestment
               gains; other expense includes legal related items and a curtailment adjustment; loss
               from associated companies includes a divestment adjustment related to the sale of
               an investment in associated companies; other financial income and expense includes
               the impact of IAS Standards 29 "Financial Reporting in Hyperinflationary Economies"
               for subsidiaries operating in hyperinflationary economies, currency devaluation losses,
               an adjustment related to the gain on sale of financial assets and interests on tax
               related items
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;5&nbsp;</sup> Taxes on the adjustments between IFRS  Accounting Standards and core results, for
               each item included in the adjustment, take into account 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 other than goodwill 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 of USD 5.1 billion to arrive at the
               core results before tax amounts to USD 1.3 billion and the average tax rate on the
               total adjustments was 25.6%.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;6&nbsp;</sup> Core earnings per share (EPS) is calculated by dividing core net income attributable
               to shareholders of Novartis AG by the weighted average number of shares used in the
               basic EPS calculation outstanding in a reporting period.
            </div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">51</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Reconciliation from IFRS Accounting Standards results to non-IFRS measure core results
      &ndash; Discontinued operations </font></div>
<div style="padding-top:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>Fourth quarter </b></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"><br>(USD millions unless indicated otherwise)
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q4 2023<br> IFRS<br> Accounting <br> Standards <br> results
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> <br> <br> Amortization<br> of intangible<br> assets
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> <br> <br> <br> <br> Impairments
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> <br> Acquisition or <br> divestment of <br> businesses and<br> related items
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> <br> <br> <br> Other <br> items
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#666666;"> <br> <br> <br> Q4 2023<br> Core results
            </div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Gross profit from discontinued operations</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Operating income from discontinued operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Income before taxes from discontinued operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Income taxes<sup style="white-space: nowrap">&nbsp;1</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -18</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 18</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net income from discontinued operations before gain on  distribution of Sandoz Group AG to Novartis AG shareholders</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   -18</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Gain on distribution of Sandoz Group AG to  Novartis AG shareholders</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   5&nbsp;860</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   -5&nbsp;860</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net income from discontinued operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 5&nbsp;842</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Basic EPS from discontinued operations (USD)<sup style="white-space: nowrap">&nbsp;2</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 2.85</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="14">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="14">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</sup> Taxes on the adjustments between IFRS and core results, for each item included in
               the adjustment, take into account 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.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="14">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;2&nbsp;</sup> Core earnings per share (EPS) is calculated by dividing core net income attributable
               to shareholders of Novartis AG by the weighted average number of shares used in the
               basic EPS calculation outstanding in a reporting period.
            </div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-top:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>Full year</b></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"><br>(USD millions unless indicated otherwise)
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> FY 2023<br> IFRS <br> Accounting <br> Standards<br> results
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> <br> <br> Amortization<br> of intangible<br> assets<sup style="white-space: nowrap">     1</sup></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> <br> <br> <br> <br> Impairments<sup style="white-space: nowrap">     2</sup></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> <br> Acquisition or <br> divestment of <br> businesses and<br> related items
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> <br> <br> <br> Other <br> items<sup style="white-space: nowrap">     3</sup></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#666666;"> <br> <br> <br> FY 2023<br> Core results
            </div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Gross profit from discontinued operations</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 3&nbsp;403</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 165</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 34</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 57</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 3&nbsp;659</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Operating income from discontinued operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 265</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 165</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 43</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 712</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 1&nbsp;185</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Income before taxes from discontinued operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 214</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 165</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 43</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 718</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 1&nbsp;140</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Income taxes<sup style="white-space: nowrap">&nbsp;4</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 208</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -29</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -8</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -422</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -251</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net income from discontinued operations before gain on  distribution of Sandoz Group AG to Novartis AG shareholders</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   422</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   889</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Gain on distribution of Sandoz Group AG to  Novartis AG shareholders</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   5&nbsp;860</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   -5&nbsp;860</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net income from discontinued operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 6&nbsp;282</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 889</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Basic EPS from discontinued operations (USD)<sup style="white-space: nowrap">&nbsp;5</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 3.02</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 0.43</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom">
         <td bgcolor="#ffffff" height="16px" colspan="14">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">      </div>
         </td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">The following are adjustments to arrive at core gross profit from discontinued operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Cost of goods sold</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -4&nbsp;044</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 165</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 34</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 57</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -3&nbsp;788</div>
         </td>
         <td align="right">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom">
         <td bgcolor="#ffffff" height="16px" colspan="14">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">      <b></b></div>
         </td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">The following are adjustments to arrive at core operating income from discontinued
               operations
            </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Selling, general and administration</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1&nbsp;728</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 25</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1&nbsp;703</div>
         </td>
         <td align="right">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Research and development</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -671</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 10</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -661</div>
         </td>
         <td align="right">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 56</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -24</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 31</div>
         </td>
         <td align="right">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -795</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 654</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -141</div>
         </td>
         <td align="right">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom">
         <td bgcolor="#ffffff" height="16px" colspan="14">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">           </div>
         </td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">The following are adjustments to arrive at core income before taxes from discontinued
               operations
            </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other financial income and expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -20</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -14</div>
         </td>
         <td align="right">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="14">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="14">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</sup> Amortization of intangible assets: cost of goods sold includes the amortization of
               acquired rights to currently marketed products and other production-related intangible
               assets
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="14">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;2&nbsp;</sup> Impairments: cost of goods sold and research and development include impairment charges
               related to intangible assets; other income includes a reversal of impairment charges
               related to property, plant and equipment
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="14">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;3&nbsp;</sup> Other items: cost of goods sold, selling, general and administration, other income
               and other expense include charges related to the Sandoz distribution, the company-wide
               rationalization of manufacturing sites and other net restructuring charges and related
               items; cost of goods sold and selling, general and administration also include adjustments
               to provisions; other expense includes legal-related items; other financial income
               and expense includes the impact of IAS 29 &#x201c;Financial reporting in Hyperinflationary
               Economies&#x201d; for subsidiaries operating in hyperinflationary economies
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="14">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;4&nbsp;</sup> Taxes on the adjustments between IFRS Accounting Standards and core results, for each
               item included in the adjustment, take into account 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 of USD 926 million to arrive at the core results
               before tax amounts to USD 459 million and the average tax rate on the adjustments
               was 49.5%.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="14">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;5&nbsp;</sup> Core earnings per share (EPS) is calculated by dividing core net income attributable
               to shareholders of Novartis AG by the weighted average number of shares used in the
               basic EPS calculation outstanding in a reporting period.
            </div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">52</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">Non-IFRS measure Free cash flow </font></div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The following table is a reconciliation of the three major categories of the IFRS
   Accounting Standards consolidated statements of cash flows to the non-IFRS measure
   free cash flow:
</div>
<div style="padding-top:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>Fourth quarter</b></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="10px">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td></td>
         <td align="center" colspan="5" height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Q4 2024</div>
         </td>
         <td></td>
         <td align="center" colspan="5" height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q4 2023</div>
         </td>
         <td></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>
         <td height="1"></td>
         <td height="1"></td>
         <td colspan="5" style="border-bottom: solid #000000 1px;"></td>
         <td height="1"></td>
         <td colspan="5" style="border-bottom: solid #000000 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 valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"><br>(USD millions)
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> IFRS <br> Accounting <br> Standards<br> cash flow
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> <br> <br> <br> Adjustments
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> <br> <br> Free <br> cash flow
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#666666;"> IFRS <br> Accounting <br> Standards<br> cash flow
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#666666;"> <br> <br> <br> Adjustments
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#666666;"> <br> <br> Free <br> cash flow
            </div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net cash flows from operating activities from  continuing operations</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   4&nbsp;193</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   4&nbsp;193</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   2&nbsp;547</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   2&nbsp;547</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total net cash flows from operating activities</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 4&nbsp;193</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 4&nbsp;193</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 2&nbsp;547</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 2&nbsp;547</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"></div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net cash flows used in investing activities from  continuing operations</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   -3&nbsp;033</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   2&nbsp;475</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   -558</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   -1&nbsp;022</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   616</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   -406</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Net cash flows used in investing activities from  discontinued operations</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   -738</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   738</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   0</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total net cash flows used in investing activities<sup style="white-space: nowrap">&nbsp;1</sup></div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -3&nbsp;033</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 2&nbsp;475</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -558</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -1&nbsp;760</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 1&nbsp;354</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -406</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"></div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net cash flows used in financing activities from  continuing operations</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   -2&nbsp;996</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   2&nbsp;996</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   0</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   -496</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   496</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   0</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Net cash flows used in financing activities from  discontinued operations</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   -111</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   111</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   0</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total net cash flows used in financing activities<sup style="white-space: nowrap">&nbsp;2</sup></div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -2&nbsp;996</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 2&nbsp;996</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 0</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -607</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 607</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 0</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"></div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Non-IFRS measure free cash  flow from continuing operations</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   3&nbsp;635</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   2&nbsp;141</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total non-IFRS measure free cash flow</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 3&nbsp;635</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 2&nbsp;141</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="14">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="14">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</sup> With the exception of purchases of property, plant and equipment, all net cash flows
               used in investing activities from continuing operations and from discontinued operations
               are excluded from the free cash flow.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="14">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;2&nbsp;</sup> Net cash flows used in financing activities from continuing operations and from discontinued
               operations are excluded from the free cash flow.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td height="10px">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">53</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name=""></a><div style=" padding-bottom: 10px;"></div>
<div style="padding-top:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>Full year</b></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="10px">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td></td>
         <td align="center" colspan="5" height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> FY 2024</div>
         </td>
         <td></td>
         <td align="center" colspan="5" height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> FY 2023</div>
         </td>
         <td></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>
         <td height="1"></td>
         <td height="1"></td>
         <td colspan="5" style="border-bottom: solid #000000 1px;"></td>
         <td height="1"></td>
         <td colspan="5" style="border-bottom: solid #000000 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 valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"><br>(USD millions)
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> IFRS <br> Accounting <br> Standards<br> cash flow
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> <br> <br> <br> Adjustments
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> <br> <br> Free <br> cash flow
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#666666;"> IFRS <br> Accounting <br> Standards<br> cash flow
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#666666;"> <br> <br> <br> Adjustments
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#666666;"> <br> <br> Free <br> cash flow
            </div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net cash flows from operating activities from  continuing operations</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   17&nbsp;619</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   17&nbsp;619</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   14&nbsp;220</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   14&nbsp;220</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Net cash flows from operating activities from  discontinued operations</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   238</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   238</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total net cash flows from operating activities</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 17&nbsp;619</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 17&nbsp;619</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 14&nbsp;458</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 14&nbsp;458</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"></div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net cash flows (used in)/from investing activities from  continuing operations</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   -7&nbsp;513</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   6&nbsp;147</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   -1&nbsp;366</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   6&nbsp;719</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   -7&nbsp;779</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   -1&nbsp;060</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Net cash flows used in investing activities from  discontinued operations</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   -1&nbsp;123</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   904</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   -219</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total net cash flows (used in)/from investing activities<sup style="white-space: nowrap">&nbsp;1</sup></div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -7&nbsp;513</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 6&nbsp;147</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -1&nbsp;366</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 5&nbsp;596</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -6&nbsp;875</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -1&nbsp;279</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"></div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net cash flows used in financing activities from continuing operations</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   -11&nbsp;742</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   11&nbsp;742</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   0</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   -17&nbsp;564</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   17&nbsp;564</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   0</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Net cash flows from financing activities from discontinued operations</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   3&nbsp;286</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   -3&nbsp;286</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   0</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total net cash flows used in financing activities<sup style="white-space: nowrap">&nbsp;2</sup></div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -11&nbsp;742</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 11&nbsp;742</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 0</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -14&nbsp;278</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 14&nbsp;278</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 0</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"></div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Non-IFRS measure free cash  flow from continuing operations</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   16&nbsp;253</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   13&nbsp;160</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Non-IFRS measure free cash flow  from discontinued operations</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   19</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total non-IFRS measure free cash flow</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 16&nbsp;253</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 13&nbsp;179</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="14">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="14">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</sup> With the exception of purchases of property, plant and equipment, all net cash flows
               (used in)/from investing activities from continuing operations and from discontinued
               operations are excluded from the free cash flow.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="14">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;2&nbsp;</sup> Net cash flows (used in)/from financing activities from continuing operations and
               from discontinued operations are excluded from the free cash flow.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="14">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;">&nbsp;&nbsp;&nbsp;<sup>&nbsp;</sup></div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">54</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The following table is a summary of the non-IFRS measure free cash flow:</div>
<div style="padding-top:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>Fourth quarter</b></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">(USD millions)</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Q4 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q4 2023</div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Operating income from continuing operations</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 3&nbsp;530</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 2&nbsp;582</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Reversal of non-cash items and other adjustments</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Depreciation, amortization and impairments</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;660</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;625</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Change in provisions and other non-current liabilities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 165</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -171</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Other</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 174</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 393</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Operating income from continuing operations adjusted for non-cash items</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 5&nbsp;529</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 4&nbsp;429</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Interest received and change in other financial receipts</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 142</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 189</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Interest paid and change in other financial payments</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -299</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -241</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Income taxes paid</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -924</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1&nbsp;093</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Payments out of provisions and other net cash movements in non-current liabilities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -260</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -353</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Change in inventories and trade receivables less trade payables</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 548</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 357</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Change in other net current assets and other operating cash flow items</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -543</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -741</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net cash flows from operating activities from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 4&nbsp;193</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 2&nbsp;547</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Purchases of property, plant and equipment</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -558</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -406</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Non-IFRS measure free cash flow from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 3&nbsp;635</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 2&nbsp;141</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total non-IFRS measure free cash flow</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 3&nbsp;635</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 2&nbsp;141</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="6">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-top:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>Full year</b></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">(USD millions)</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> FY 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> FY 2023</div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Operating income from continuing operations</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 14&nbsp;544</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 9&nbsp;769</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Reversal of non-cash items and other adjustments</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Depreciation, amortization and impairments</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6&nbsp;114</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 8&nbsp;383</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Change in provisions and other non-current liabilities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 696</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 61</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Other</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 817</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 728</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Operating income from continuing operations adjusted for non-cash items</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 22&nbsp;171</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 18&nbsp;941</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Dividends received from associated companies and others</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Interest received and other financial receipts</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 489</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 735</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Interest paid and other financial payments</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -971</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -768</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Income taxes paid</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2&nbsp;258</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -2&nbsp;787</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Payments out of provisions and other net cash movements in non-current liabilities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1&nbsp;107</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1&nbsp;534</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Change in inventories and trade receivables less trade payables</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1&nbsp;261</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1&nbsp;571</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Change in other net current assets and other operating cash flow items</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 555</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;202</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net cash flows from operating activities from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 17&nbsp;619</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 14&nbsp;220</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Purchases of property, plant and equipment</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1&nbsp;366</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1&nbsp;060</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Non-IFRS measure free cash flow from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 16&nbsp;253</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 13&nbsp;160</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Non-IFRS measure free cash flow from discontinued operations<sup style="white-space: nowrap">&nbsp;1</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 19</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total non-IFRS measure free cash flow</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 16&nbsp;253</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 13&nbsp;179</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="6">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="6">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</sup> In 2023, the free cash flow from discontinued operations was a cash inflow of USD
               19 million consisting of USD 238 million net cash inflows from operating activities
               from discontinued operations, less purchases of property, plant and equipment by discontinued
               operations of USD 219 million.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="6">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;">&nbsp;&nbsp;&nbsp;<sup>&nbsp;</sup></div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">55</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">Additional information</font></div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Net debt</font></div>
<div style="padding-top:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>Condensed consolidated changes in net debt </b></div>
<div style="padding-top:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>Fourth quarter</b></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">(USD millions)</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Q4 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q4 2023</div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net change in cash and cash equivalents</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -2&nbsp;150</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 988</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Change in marketable securities, commodities,  time deposits, financial debts and derivatives financial instruments</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">     2&nbsp;305</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">     -340</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Change in net debt</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 155</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 648</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Net debt at October 1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -16&nbsp;296</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -10&nbsp;831</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net debt at December 31</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -16&nbsp;141</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -10&nbsp;183</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="6">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-top:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>Full year</b></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">(USD millions)</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> FY 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> FY 2023</div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net change in cash and cash equivalents</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -1&nbsp;934</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 5&nbsp;876</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Change in marketable securities, commodities,  time deposits, financial debts and derivatives financial instruments</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">     -4&nbsp;024</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">     -8&nbsp;814</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Change in net debt</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -5&nbsp;958</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -2&nbsp;938</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Net debt at January 1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -10&nbsp;183</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -7&nbsp;245</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net debt at December 31</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -16&nbsp;141</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -10&nbsp;183</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="6">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-top:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>Components of net debt</b></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"><br>(USD millions)
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Dec 31, <br> 2024
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Dec 31, <br> 2023
            </div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Non-current financial debts</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -21&nbsp;366</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -18&nbsp;436</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Current financial debts and derivative financial instruments</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -8&nbsp;232</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -6&nbsp;175</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total financial debts</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -29&nbsp;598</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -24&nbsp;611</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Less liquidity</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Cash and cash equivalents</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 11&nbsp;459</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 13&nbsp;393</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Marketable securities, commodities, time deposits and derivative financial instruments</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;998</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;035</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total liquidity</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 13&nbsp;457</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 14&nbsp;428</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net debt at end of period</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -16&nbsp;141</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -10&nbsp;183</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="6">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
   </table>
</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Share information </font></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Dec 31, <br> 2024
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Dec 31, <br> 2023
            </div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Number of shares outstanding</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 1&nbsp;975&nbsp;089&nbsp;248</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2&nbsp;044&nbsp;033&nbsp;986</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Registered share price (CHF)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 88.70</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 84.87</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">ADR price (USD)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 97.31</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 100.97</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Market capitalization (USD billions)<sup style="white-space: nowrap">&nbsp;1</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 193.9</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 206.3</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Market capitalization (CHF billions)<sup style="white-space: nowrap">&nbsp;1</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 175.2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 173.5</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="6">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="6">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;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>
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">56</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">Effects of currency fluctuations</font></div><a name="anchorId00243538"></a><div><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Principal currency translation rates</font></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"><br>(USD per unit)
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> <br> Average <br> rates<br> Q4 2024
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> <br> Average <br> rates<br> Q4 2023
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> <br> Average <br> rates<br> FY 2024
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> <br> Average <br> rates<br> FY 2023
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Period-end <br> rates<br> Dec 31, <br> 2024
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Period-end <br> rates<br> Dec 31, <br> 2023
            </div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">1 CHF</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1.140</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1.127</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1.136</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1.113</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1.107</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1.189</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">1 CNY</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0.139</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 0.138</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0.139</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 0.141</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0.137</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 0.141</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">1 EUR</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1.067</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1.076</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1.082</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1.082</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1.041</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1.107</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">1 GBP</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1.282</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1.241</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1.278</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1.243</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1.256</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1.275</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">100 JPY</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0.657</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 0.676</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0.661</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 0.713</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0.640</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 0.707</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">100 RUB</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0.997</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1.079</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1.080</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1.185</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0.889</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1.111</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
   </table>
</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Currency impact on key figures</font></div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The following table provides a summary of the currency impact on key Company figures
   due to their conversion into US dollars, the Company&#x2019;s reporting currency, of the
   financial data from entities reporting in non-US dollars. Constant currency (cc) calculations
   apply the exchange rates of the prior year period to the current period financial
   data for entities reporting in non-US dollars.
</div>
<div style="padding-top:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>Fourth quarter</b></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> <br> Change in<br> USD %<br> Q4 2024
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Change in<br>  constant<br>  currencies  %<br> Q4 2024
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Percentage<br> point currency<br>  impact<br> Q4 2024
            </div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Net sales from continuing operations</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="11%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 15</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="11%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 16</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="11%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Operating income from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 37</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 39</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Net income from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Basic earnings per share (USD) from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 10</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 10</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Core operating income from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 27</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 29</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Core net income from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 26</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 29</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -3</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Core basic earnings per share (USD) from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 29</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 33</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -4</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom">
         <td colspan="8">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;">&nbsp;&nbsp;&nbsp;<sup>&nbsp;</sup></div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-top:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>Full year</b></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> <br> Change in<br> USD %<br> FY 2024
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Change in<br>  constant<br>  currencies  %<br> FY 2024
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Percentage<br> point currency<br>  impact<br> FY 2024
            </div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Net sales from continuing operations</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="11%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 11</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="11%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 12</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="11%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Operating income from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 49</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 55</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -6</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Net income from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 39</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 45</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -6</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Basic earnings per share (USD) from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 43</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 49</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -6</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Core operating income from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 19</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 22</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -3</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Core net income from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 17</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 21</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -4</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Core basic earnings per share (USD) from continuing operations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 21</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 24</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -3</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom">
         <td colspan="8">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;">&nbsp;&nbsp;&nbsp;<sup>&nbsp;</sup></div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">57</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name=""></a><div><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Disclaimer</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">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 &#x201c;may,&#x201d; &#x201c;can,&#x201d; &#x201c;will,&#x201d; &#x201c;continue,&#x201d; &#x201c;ongoing,&#x201d; &#x201c;grow,&#x201d; &#x201c;launch,&#x201d; &#x201c;expect,&#x201d;
   &#x201c;deliver,&#x201d; &#x201c;address,&#x201d; &#x201c;accelerate,&#x201d; &#x201c;deliver,&#x201d; &#x201c;scaling,&#x201d; &#x201c;guidance,&#x201d; &#x201c;outlook,&#x201d; &#x201c;long-term,&#x201d;
   &#x201c;priority,&#x201d; &#x201c;potential,&#x201d; &#x201c;momentum,&#x201d; or similar expressions, or by express or implied
   discussions regarding potential new products, potential new indications for existing
   products, potential product launches, or regarding potential future revenues from
   any such products; or regarding results of ongoing clinical trials; or regarding potential
   future, pending or announced transactions; regarding potential future sales or earnings;
   or by discussions of strategy, plans, expectations or intentions, including discussions
   regarding our continued investment into new R&amp;D capabilities and manufacturing; or
   regarding our capital structure. 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. There can be no guarantee
   that the investigational or approved products described in this press release will
   be submitted or approved for sale or for any additional indications or labeling in
   any market, or at any particular time. Nor can there be any guarantee that such products
   will be commercially successful in the future. Neither can there be any guarantee
   expected benefits or synergies from the transactions described in this press release
   will be achieved in the expected timeframe, or at all. In particular, our expectations
   could be affected by, among other things: uncertainties concerning global healthcare
   cost containment, including ongoing government, payer and general public pricing and
   reimbursement pressures and requirements for increased pricing transparency; uncertainties
   regarding the success of key products, commercial priorities and strategy; uncertainties
   in the research and development of new 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;
   uncertainties regarding our ability to realize the strategic benefits, operational
   efficiencies or opportunities expected from our external business opportunities; uncertainties
   in the development or adoption of potentially transformational digital technologies,
   including artificial intelligence, and business models; uncertainties surrounding
   the implementation of our new IT projects and systems; uncertainties regarding potential
   significant breaches of information security or disruptions of our information technology
   systems; uncertainties regarding actual or potential legal proceedings, including
   regulatory actions or delays or government regulation related to the products and
   pipeline products described in this press release; safety, quality, data integrity,
   or manufacturing issues; our performance on and ability to comply with environmental,
   social and governance measures and requirements; major geo- and socio-political developments,
   including impact of the war in certain parts of the world; uncertainties regarding
   future global exchange rates; uncertainties regarding future demand for our products;
   and other risks and factors referred to in Novartis AG&#x2019;s most recently filed Form
   20-F and in subsequent reports filed with, or furnished to, 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 style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">All product names appearing in italics are trademarks owned by or licensed to Novartis.</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">58</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name=""></a><div><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">About Novartis</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Novartis is an innovative medicines company. Every day, we work to reimagine medicine
   to improve and extend people&#x2019;s lives so that patients, healthcare professionals and
   societies are empowered in the face of serious disease. Our medicines reach more than
   250 million people worldwide.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Reimagine medicine with us: Visit us at https://www.novartis.com and connect with
   us on LinkedIn, Facebook, X/Twitter and Instagram.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">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
   https://www.novartis.com/investors/event-calendar.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Detailed financial results accompanying this press release are included in the condensed
   financial report at the link below. Additional information is provided on our business
   and pipeline of selected compounds in late-stage development. A copy of today&#x2019;s earnings
   call presentation can be found at https://www.novartis.com/investors/event-calendar.
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Novartis issued its 2024 Annual Report today, and it is available at www.novartis.com.
   Novartis will also file its 2024 Annual Report on Form 20-F with the US Securities
   and Exchange Commission today, and will post this document on www.novartis.com. Novartis
   shareholders may receive a hard copy of either of these documents, each of which contains
   our complete audited financial statements, free of charge, upon request. Novartis
   also issued its Novartis in Society Integrated Report 2024 today, and it is available
   at www.novartis.com.
</div><a name=""></a><div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"></font></div><a name=""></a><div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Important dates</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">
   <div style="float:left; width: 150px;">March 7, 2025</div>
   <div style="">Annual General Meeting</div>
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">
   <div style="float:left; width: 150px;">April 29, 2025</div>
   <div style="">First quarter 2025 results</div>
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">
   <div style="float:left; width: 150px;">July 17, 2025</div>
   <div style="">Second quarter &amp; half year 2025 results</div>
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">
   <div style="float:left; width: 150px;">October 28, 2025</div>
   <div style="">Third quarter &amp; nine months 2025 results</div>
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">59</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div>




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MZGZ2YS[([OZ_)QQOFP                                         ]
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
