<SEC-DOCUMENT>0001370368-25-000010.txt : 20250429
<SEC-HEADER>0001370368-25-000010.hdr.sgml : 20250429
<ACCEPTANCE-DATETIME>20250429060132
ACCESSION NUMBER:		0001370368-25-000010
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		6
CONFORMED PERIOD OF REPORT:	20250331
FILED AS OF DATE:		20250429
DATE AS OF CHANGE:		20250429

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NOVARTIS AG
		CENTRAL INDEX KEY:			0001114448
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				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:		25882457

	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>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>a250429-6k.htm
<DESCRIPTION>6-K
<TEXT>

<html>
<head>
  <title>6-K</title>

</head>
<body style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#ffffff" text="#000000"">



   <div>
<hr style="MARGIN-TOP: -5px; COLOR: #000000" noshade size="4">
<hr style="MARGIN-TOP: -10px; COLOR: #000000" noshade size="1">
</div>

<br>
<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>

<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: 18pt; FONT-WEIGHT: bold">&#160;</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: 18pt; FONT-WEIGHT: bold">FORM 6-K</font></div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">&#160;</div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">&#160;</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: 12pt; FONT-WEIGHT: bold">REPORT OF FOREIGN PRIVATE ISSUER</font></div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; FONT-SIZE: 12pt; FONT-WEIGHT: bold">PURSUANT TO RULE 13a-16 or 15d-16 OF</font></div>

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

<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="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">
    Report on Form 6-K dated
    April 29, 2025</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(Commission File No. 1-15024)</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; FONT-SIZE: 10pt">&#160;</font>

<div>
<hr style="COLOR: black" align="center" noshade size="1" width="20%">
</div>
</div>

<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="center"><font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; FONT-SIZE: 18pt; FONT-WEIGHT: bold">Novartis AG</font></div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; FONT-SIZE: 10pt; FONT-WEIGHT: normal">(Name of Registrant)</font></div>

<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="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Lichtstrasse 35</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">4056 Basel</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Switzerland</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; FONT-SIZE: 10pt">(Address of Principal Executive Offices)</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block">
<div>
<hr style="COLOR: black" align="center" noshade size="1" width="20%">
</div>

<br>
</div>

<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="justify">&#160;</div>

<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>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="font-family:arial,helvetica,sans-serif; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td align="right" valign="top" width="38%">
<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>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="37%">
<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>
</td>
</tr></table>
</div>

<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="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
&#160;</div>

<div>
<hr style="MARGIN-TOP: -5px; COLOR: #000000" noshade size="1">
<hr style="MARGIN-TOP: -13px; COLOR: #000000" noshade size="4">
</div>


<br />
<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: 18pt; FONT-WEIGHT: bold">Exhibits:</font>
<br />
<br />
<font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; FONT-SIZE: 11pt; FONT-WEIGHT: normal">

  <a href="a250429-99_1.htm">99.1 Financial Report Q1 2025</a>

<br />

 <a href="a250429-99_2.htm">99.2 Condensed Financial Report</a>
    <br />
</font>



</div>


<br />




    <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>

<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="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>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="font-family:arial,helvetica,sans-serif; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="top" width="47%"><font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="3" valign="top" width="47%">
<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>
</td>
</tr><tr>
<td valign="top" width="47%"><font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="3" valign="top" width="47%"><font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="47%"><font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="4%"><font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="2" valign="top" width="42%"><font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="47%">
<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:
April 29, 2025</font></div>
</td>
<td align="left" valign="top" width="4%">
<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>
</td>
<td colspan="2" valign="top" width="42%" style="BORDER-BOTTOM: black 0.5pt solid; TEXT-ALIGN: left">
<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>
</td>
</tr><tr>
<td valign="top" width="47%"><font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="2" valign="top" width="7%"><font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="40%"><font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="47%"><font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="top" width="7%">
<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>
</td>
<td align="left" valign="top" width="40%">
<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>
</td>
</tr><tr>
<td valign="top" width="47%"><font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="top" width="7%">
<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">Title:</font></div>
</td>
<td align="left" valign="top" width="40%">
<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>
</td>
</tr><tr>
<td valign="middle" width="47%"><font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="middle" width="4%"><font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="middle" width="2%"><font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="middle" width="40%"><font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block">
<div>
<hr style="COLOR: black" align="center" noshade size="2" width="100%">
</div>





</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>a250429-99_1.htm
<DESCRIPTION>99.1 FINANCIAL REPORT Q1 2025
<TEXT>

<html>
<head>
  <title>99.1 Financial Report Q1 2025</title>

</head>
<body bgcolor="#ffffff" text="#000000" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial">



   <div style="width: 100%;" class="BRPFPageHeader"></div>
  &#160;<br>
  <div>
    <div>
      <div style="font-family: 'Times New Roman'; text-align: center;">
        <div style="text-align: left;">
          <div style="width: 100%;">
            <table cellspacing="0" cellpadding="0" border="0" style="FONT-SIZE: 10pt; FONT-FAMILY: arial; WIDTH: 100%" id="1da8732496a249cc854a904f83fcfc20">

                <tr>
                  <td valign="top" align="left" rowspan="1" style="WIDTH: 50%">&#160;</td>
                  <td valign="top" colspan="2" rowspan="1" style="font-family: times new roman;">
                    <div style="margin-left: 36pt; text-indent: -36pt; text-align: center;"><img src="letterheadpr.jpg">&#160; </div>
                  </td>
                </tr>
                <tr>
                  <td valign="top" align="left" style="WIDTH: 50%">
                    <div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><img src="logorm.jpg">
                      <div><br>
                      </div>
                      <div><br>
                      </div>
                    </div>
                  </td>
                  <td valign="top" style="font-family: times new roman; width: 8%;">&#160; </td>
                  <td valign="top" align="left" style="width: 19%;">
                    <div>
                      <div style="text-align: left; margin-bottom: 2pt; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"><font style="font-weight: bold; color: rgb(4, 96, 169); background-color: rgb(255, 255, 255); font-family: Arial,Helvetica,'sans-serif'; font-style: normal; font-variant: normal; text-transform: none;"><font style="background-color: rgb(255, 255, 255);">Novartis&#160;International&#160;</font>AG</font></div>
                      <div style="text-align: left; margin-bottom: 2pt; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">CH-4002 Basel <br>
                        <div>Switzerland</div>
                        <u><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(4, 96, 169); font-family: Arial,Helvetica,'sans-serif'; font-style: normal; font-variant: normal; text-transform: none;"><br>
                          </font></u><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(4, 96, 169); font-family: Arial,Helvetica,'sans-serif'; font-style: normal; font-variant: normal; text-transform: none;"> </font></div>
                      <div style="text-align: left; margin-bottom: 2pt; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">
                        <div style="line-height: 9.85pt; color: rgb(4, 96, 169); font-family: Arial; background-color: rgb(255, 255, 255); font-weight: normal; font-style: normal; font-variant: normal; text-transform: none;"><u>https://www.novartis.com</u></div>
                        <div style="line-height: 9.85pt; color: rgb(4, 96, 169); font-family: Arial; background-color: rgb(255, 255, 255); font-weight: normal; font-style: normal; font-variant: normal; text-transform: none;">
                          <div style="margin-bottom: 2pt; font-family: Arial, Helvetica, sans-serif;">
                            <div style="line-height: 9.85pt; color: rgb(4, 96, 169); font-family: Arial; background-color: rgb(255, 255, 255); font-weight: normal; font-style: normal; font-variant: normal; text-transform: none;"><u>http://x.com/NovartisNews</u></div>
                          </div>
                          <u> </u></div>
                      </div>
                      <div style="text-align: left; margin-bottom: 2pt; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;"> <br>
                      </div>
                    </div>
                  </td>
                </tr>

            </table>
          </div>
          <br>
          <div style="line-height: 11.4pt;">
            <div style="line-height: 12pt;">
              <div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 18pt; padding: 0px 0px 8px;"><font style="font-size: 14pt; font-family: Arial; font-weight: bold; color: #002068;">FINANCIAL RESULTS | FINANZERGEBNISSE<br>
                    </font><br style="line-height: 18pt;">
                </div>
                <div style="line-height: 16pt; color: #0460A9; font-family: Arial; font-size: 16pt; font-weight: bold;">Novartis <font style="background-color: rgb(255, 255, 255); font-weight: bold; color: rgb(4, 96, 169); font-style: normal; font-variant: normal; text-transform: none;">continues </font>strong momentum with <font style="background-color: rgb(255, 255, 255); font-weight: bold; color: rgb(4, 96, 169); font-style: normal; font-variant: normal; text-transform: none;">double</font>-digit sales growth, robust margin expansion and multiple approvals in Q1</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;">Ad hoc announcement pursuant to Art. 53 LR</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div>
                  <table cellspacing="0" cellpadding="0" id="zcf1a065b943e4f588b631ad9b786830c" class="DSPFListTable" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;">

                      <tr>
                        <td style="width: 14.4pt; vertical-align: top; text-align: right; background-color: rgb(255, 255, 255); font-weight: bold; color: rgb(4, 96, 169); font-size: 11pt; font-style: normal; font-variant: normal; text-transform: none;">
                          <div style="line-height: 11.4pt; padding: 3px 0px; text-align: left;">&#8226;</div>
                        </td>
                        <td style="width: auto; vertical-align: top;">
                          <div style="line-height: 11.4pt; padding: 3px 0px; font-size: 11pt; font-weight: bold;">Net sales grew +15% (cc<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>, +12% USD) with core operating income<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup> up +27% (cc, +23%
                            USD)</div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div>
                  <table cellspacing="0" cellpadding="0" id="z8c587ad54c5c4d2d9325f4b1c72514b2" class="DSPFListTable" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;">

                      <tr>
                        <td style="width: 28.8pt; vertical-align: top; text-align: right; font-size: 10pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(4, 96, 169); font-style: normal; font-variant: normal; text-transform: none;">
                          <div style="margin: 0px 0px 0px 14.4pt; line-height: 11.4pt; padding: 3px 0px; text-align: left;">o</div>
                        </td>
                        <td style="width: auto; vertical-align: top;">
                          <div style="line-height: 11.4pt; padding: 3px 0px; font-size: 11pt;">Sales growth driven by continued strong performance from <font style="font-style: italic;">Entresto</font> (+22% cc), <font style="font-style: italic;">Kisqali</font> (+56% cc), <font style="font-style: italic;">Kesimpta</font>
                            (+43% cc), <font style="font-style: italic;">Cosentyx</font> (+18% cc), <font style="font-style: italic;">Leqvio</font> (+72% cc) and <font style="font-style: italic;">Scemblix</font> (+76% cc)</div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div>
                  <table cellspacing="0" cellpadding="0" id="z15d20e5a182b4847bf592631c4e7d08d" class="DSPFListTable" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;">

                      <tr>
                        <td style="width: 28.8pt; vertical-align: top; text-align: right; font-size: 10pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(4, 96, 169); font-style: normal; font-variant: normal; text-transform: none;">
                          <div style="margin: 0px 0px 0px 14.4pt; line-height: 11.4pt; padding: 3px 0px; text-align: left;">o</div>
                        </td>
                        <td style="width: auto; vertical-align: top;">
                          <div style="line-height: 11.4pt; padding: 3px 0px; font-size: 11pt;">Core operating income margin<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup> reached 42.1%, +400 basis points (cc), mainly driven by higher net sales</div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div>
                  <table cellspacing="0" cellpadding="0" id="zaa9df1c7e2db4920b6842325d363d1cf" class="DSPFListTable" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;">

                      <tr>
                        <td style="width: 14.4pt; vertical-align: top; text-align: right; background-color: rgb(255, 255, 255); font-weight: bold; color: rgb(4, 96, 169); font-size: 11pt; font-style: normal; font-variant: normal; text-transform: none;">
                          <div style="line-height: 11.4pt; padding: 3px 0px; text-align: left;">&#8226;</div>
                        </td>
                        <td style="width: auto; vertical-align: top;">
                          <div style="line-height: 11.4pt; padding: 3px 0px; font-size: 11pt; font-weight: bold;">Operating income grew +44% (cc, +38% USD); net income up +37% (cc, +34% USD)</div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div>
                  <table cellspacing="0" cellpadding="0" id="zed6582802df4424aa8fe0aa714283770" class="DSPFListTable" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;">

                      <tr>
                        <td style="width: 14.4pt; vertical-align: top; text-align: right; background-color: rgb(255, 255, 255); font-weight: bold; color: rgb(4, 96, 169); font-size: 11pt; font-style: normal; font-variant: normal; text-transform: none;">
                          <div style="line-height: 11.4pt; padding: 3px 0px; text-align: left;">&#8226;</div>
                        </td>
                        <td style="width: auto; vertical-align: top;">
                          <div style="line-height: 11.4pt; padding: 3px 0px; font-size: 11pt; font-weight: bold;">Core EPS<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup> grew +31% (cc, +27% USD) to USD 2.28</div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div>
                  <table cellspacing="0" cellpadding="0" id="z2ba93ecd4c0c4db3a379d1c738c67ddc" class="DSPFListTable" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;">

                      <tr>
                        <td style="width: 14.4pt; vertical-align: top; text-align: right; background-color: rgb(255, 255, 255); font-weight: bold; color: rgb(4, 96, 169); font-size: 11pt; font-style: normal; font-variant: normal; text-transform: none;">
                          <div style="line-height: 11.4pt; padding: 3px 0px; text-align: left;">&#8226;</div>
                        </td>
                        <td style="width: auto; vertical-align: top;">
                          <div style="line-height: 11.4pt; padding: 3px 0px; font-size: 11pt;"><font style="font-weight: bold;">Free cash flow</font><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup><font style="font-weight: bold;"> of USD 3.4 billion (+66% USD) </font>driven by <font style="color: #000000;">higher net cash flows from operating
                              activities</font></div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div>
                  <table cellspacing="0" cellpadding="0" id="zcc4193083ab8469aa138d2fd87a49309" class="DSPFListTable" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;">

                      <tr>
                        <td style="width: 14.4pt; vertical-align: top; text-align: right; background-color: rgb(255, 255, 255); font-weight: bold; color: rgb(4, 96, 169); font-size: 11pt; font-style: normal; font-variant: normal; text-transform: none;">
                          <div style="line-height: 11.4pt; padding: 3px 0px; text-align: left;">&#8226;</div>
                        </td>
                        <td style="width: auto; vertical-align: top;">
                          <div style="line-height: 11.4pt; padding: 3px 0px; font-size: 11pt; font-weight: bold;">Selected innovation milestones:</div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div>
                  <table cellspacing="0" cellpadding="0" id="zdbbe3321b4ce400789c9596492f10783" class="DSPFListTable" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;">

                      <tr>
                        <td style="width: 28.8pt; vertical-align: top; text-align: right; font-size: 10pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(4, 96, 169); font-style: normal; font-variant: normal; text-transform: none;">
                          <div style="margin: 0px 0px 0px 14.4pt; line-height: 11.4pt; padding: 3px 0px; text-align: left;">o</div>
                        </td>
                        <td style="width: auto; vertical-align: top;">
                          <div style="line-height: 11.4pt; padding: 3px 0px; font-size: 11pt;"><font style="font-weight: bold; font-style: italic;">Pluvicto </font>FDA<font style="color: #000000;"> approval for pre-taxane mCRPC</font></div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div>
                  <table cellspacing="0" cellpadding="0" id="zd66616aa96a7448eb9ec2323ff92ecaf" class="DSPFListTable" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;">

                      <tr>
                        <td style="width: 28.8pt; vertical-align: top; text-align: right; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(4, 96, 169); font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">
                          <div style="margin: 0px 0px 0px 14.4pt; line-height: 11.4pt; padding: 3px 0px; text-align: left;">o</div>
                        </td>
                        <td style="width: auto; vertical-align: top;">
                          <div style="line-height: 11.4pt; padding: 3px 0px; font-size: 11pt;"><font style="font-weight: bold; font-style: italic;">Vanrafia</font><font style="font-weight: bold;">&#160;</font>(atrasentan)<font style="font-weight: bold;">&#160;</font>FDA accelerated approval for IgA nephropathy</div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div>
                  <table cellspacing="0" cellpadding="0" id="zf859825027ae43f4ac6cbcb2c7eee972" class="DSPFListTable" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;">

                      <tr>
                        <td style="width: 28.8pt; vertical-align: top; text-align: right; font-size: 10pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(4, 96, 169); font-style: normal; font-variant: normal; text-transform: none;">
                          <div style="margin: 0px 0px 0px 14.4pt; line-height: 11.4pt; padding: 3px 0px; text-align: left;">o</div>
                        </td>
                        <td style="width: auto; vertical-align: top;">
                          <div style="line-height: 11.4pt; padding: 3px 0px; font-size: 11pt;"><font style="font-weight: bold; font-style: italic;">Fabhalta</font> (iptacopan) FDA,
                            EC and China NMPA approvals for C3G</div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div>
                  <table cellspacing="0" cellpadding="0" id="z99f2f8461ad24e6cb0258cc5e3a4356a" class="DSPFListTable" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;">

                      <tr>
                        <td style="width: 28.8pt; vertical-align: top; text-align: right; font-weight: normal; background-color: rgb(255, 255, 255); color: rgb(4, 96, 169); font-size: 10pt; font-style: normal; font-variant: normal; text-transform: none;">
                          <div style="margin: 0px 0px 0px 14.4pt; line-height: 11.4pt; padding: 3px 0px; text-align: left;">o</div>
                        </td>
                        <td style="width: auto; vertical-align: top;">
                          <div style="line-height: 11.4pt; padding: 3px 0px; font-size: 11pt;"><font style="font-weight: bold;">Remibrutinib </font>global submissions for CSU, with
                            priority review voucher in US</div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div>
                  <table cellspacing="0" cellpadding="0" id="zc7cd3b322faf4962be6513c819f7cb22" class="DSPFListTable" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;">

                      <tr>
                        <td style="width: 28.8pt; vertical-align: top; text-align: right; font-size: 10pt; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(4, 96, 169); font-style: normal; font-variant: normal; text-transform: none;">
                          <div style="margin: 0px 0px 0px 14.4pt; line-height: 11.4pt; padding: 3px 0px; text-align: left;">o</div>
                        </td>
                        <td style="width: auto; vertical-align: top;">
                          <div style="line-height: 11.4pt; padding: 3px 0px; 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>
                  <table cellspacing="0" cellpadding="0" id="zc4e3ff9082dd417a9f654f46306ca821" class="DSPFListTable" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;">

                      <tr>
                        <td style="width: 14.4pt; vertical-align: top; text-align: right; font-weight: bold; background-color: rgb(255, 255, 255); color: rgb(4, 96, 169); font-size: 11pt; font-style: normal; font-variant: normal; text-transform: none;">
                          <div style="line-height: 11.4pt; padding: 3px 0px; text-align: left;">&#8226;</div>
                        </td>
                        <td style="width: auto; vertical-align: top;">
                          <div style="line-height: 11.4pt; padding: 3px 0px; font-size: 11pt;"><font style="font-weight: bold;">Full-year 2025 guidance</font><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup><font style="font-weight: bold;"> raised: </font>Sales expected to grow high single digit, core operating income expected to grow low double-digit</div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; font-family: Arial; font-size: 11pt;"><font style="font-weight: bold;">Basel, April 29, 2025 </font>&#8211; Commenting on Q1 2025 results, Vas Narasimhan, CEO
                  of Novartis, said:</div>
                <div style="line-height: 12pt; font-family: Arial; font-size: 11pt;">&#8220;<font style="font-style: italic;">Novartis has had a strong start to the year, delivering a +15% cc increase in
                    sales and a +27% cc rise in core operating income in Q1. Our priority brands, including </font>Kisqali<font style="font-style: italic;">, </font>Kesimpta<font style="font-style: italic;"> and </font>Leqvio<font style="font-style: italic;">, continue to show strong momentum, which we anticipate will drive our growth through 2030 and beyond. We also
                    achieved significant innovation milestones in the quarter, with new approvals for </font>Pluvicto<font style="font-style: italic;"> in the pre-taxane setting, </font>Vanrafia<font style="font-style: italic;"> for IgA nephropathy, and </font>Fabhalta<font style="font-style: italic;"> for C3G. Additionally, we completed global submissions for remibrutinib in
                    CSU, the first indication for this promising pipeline-in-a-pill. We remain focused on advancing our leading pipeline and confident in achieving our growth outlook.</font>&#8221;</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <table cellspacing="0" cellpadding="0" id="z0c77b00f5f83475bb2a76e53969cdf97" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;">

                    <tr>
                      <td style="vertical-align: middle; white-space: nowrap; width: 39.13%; padding: 4px 0px 0px;">
                        <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Key figures</div>
                      </td>
                      <td style="vertical-align: bottom; white-space: nowrap; width: 16.59%; padding: 4px 0px 0px;">&#160;</td>
                      <td style="vertical-align: bottom; white-space: nowrap; width: 16.62%; padding: 4px 0px 0px;">&#160;</td>
                      <td style="vertical-align: bottom; white-space: nowrap; width: 14.88%; padding: 4px 0px 0px;">&#160;</td>
                      <td style="vertical-align: bottom; white-space: nowrap; width: 12.77%; padding: 4px 0px 0px;">&#160;</td>
                    </tr>
                    <tr>
                      <td style="vertical-align: bottom; white-space: nowrap; width: 39.13%; padding: 4px 0px 0px;">&#160;</td>
                      <td style="vertical-align: bottom; width: 16.59%; padding: 4px 0px 0px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Q1 2025</div>
                      </td>
                      <td style="vertical-align: bottom; width: 16.62%; padding: 4px 0px 0px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">Q1 2024</div>
                      </td>
                      <td style="vertical-align: bottom; width: 27.65%; padding: 4px 0px 0px;" colspan="2">
                        <div style="text-align: center; line-height: 9.1pt; color: #000000; font-size: 8pt;">% change</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 2px solid; vertical-align: bottom; white-space: nowrap; width: 39.13%; padding: 4px 0px 0px;">
                        <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                      </td>
                      <td style="border-bottom: 2px solid; vertical-align: bottom; width: 16.59%; padding: 4px 0px 0px;">
                        <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; vertical-align: bottom; width: 16.62%; padding: 4px 0px 0px;">
                        <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; vertical-align: bottom; width: 14.88%; padding: 4px 0px 0px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">USD</div>
                      </td>
                      <td style="border-bottom: 2px solid; vertical-align: bottom; width: 12.77%; padding: 4px 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: 39.13%; padding: 4px 0px 1px 5px;">
                        <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Net sales to third parties</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 16.59%; padding: 4px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">13 233</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 16.62%; padding: 4px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">11 829</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 14.88%; padding: 4px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">12</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 12.77%; padding: 4px 5px 1px 0px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">15</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; width: 39.13%; padding: 4px 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: 16.59%; padding: 4px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">4 663</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 16.62%; padding: 4px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">3 373</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 14.88%; padding: 4px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">38</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 12.77%; padding: 4px 5px 1px 0px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">44</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; width: 39.13%; padding: 4px 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: 16.59%; padding: 4px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">3 609</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 16.62%; padding: 4px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">2 688</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 14.88%; padding: 4px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">34</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 12.77%; padding: 4px 5px 1px 0px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">37</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; width: 39.13%; padding: 4px 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: 16.59%; padding: 4px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">1.83</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 16.62%; padding: 4px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">1.31</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 14.88%; padding: 4px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">40</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 12.77%; padding: 4px 5px 1px 0px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">42</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; width: 39.13%; padding: 4px 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: 16.59%; padding: 4px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">3 391</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 16.62%; padding: 4px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">2 038</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 14.88%; padding: 4px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">66</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 12.77%; padding: 4px 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: 39.13%; padding: 4px 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: 16.59%; padding: 4px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">5 575</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 16.62%; padding: 4px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">4 537</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 14.88%; padding: 4px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">23</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 12.77%; padding: 4px 5px 1px 0px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">27</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; width: 39.13%; padding: 4px 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: 16.59%; padding: 4px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">4 482</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 16.62%; padding: 4px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">3 681</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 14.88%; padding: 4px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">22</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 12.77%; padding: 4px 5px 1px 0px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">26</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; width: 39.13%; padding: 4px 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: 16.59%; padding: 4px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">2.28</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 16.62%; padding: 4px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">1.80</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 14.88%; padding: 4px 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: 12.77%; padding: 4px 5px 1px 0px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">31</div>
                      </td>
                    </tr>

                </table>
                <div style="line-height: 17pt;"><font style="font-size: 14pt; font-family: Arial; font-weight: bold;"> </font>
                  <div><br>
                  </div>
                  <br>
                  <div style="line-height: 8.6pt; 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 31 of the Condensed Interim 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;5.</div>
                  <div style="line-height: 8.6pt">&#160;</div>
                </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>
              <div><font style="font-size: 14pt; font-family: Arial; font-weight: bold;"> <br>
                </font>
                <div style="line-height: 17pt;"><font style="font-size: 14pt; font-family: Arial; font-weight: bold;"> <br>
                  </font></div>
                <div style="line-height: 17pt;"><font style="font-size: 14pt; font-family: Arial; font-weight: bold;">Strategy<br>
                    </font><br style="line-height: 17pt;">
                </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; font-family: Arial; font-size: 11pt;">Novartis is a &#8220;pure-play&#8221; innovative medicines company. 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 &#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" id="za4c11638ae42404fb0d200d344839cd3" class="DSPFListTable" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;">

                      <tr>
                        <td style="width: 18pt; vertical-align: top; text-align: right;">
                          <div style="text-align: left; line-height: 12pt; font-size: 11pt;">1.</div>
                        </td>
                        <td style="width: auto; vertical-align: top;">
                          <div style="line-height: 12pt; 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" id="z5914cdac1cf740a19cc1be17918ce602" class="DSPFListTable" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;">

                      <tr>
                        <td style="width: 18pt; vertical-align: top; text-align: right;">
                          <div style="line-height: 12pt; padding: 3px 0px; font-size: 11pt; text-align: left;">2.</div>
                        </td>
                        <td style="width: auto; vertical-align: top;">
                          <div style="line-height: 12pt; padding: 3px 0px; 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" id="z0cca67caf0c046e5b5f1dbf323f86602" class="DSPFListTable" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;">

                      <tr>
                        <td style="width: 18pt; vertical-align: top; text-align: right;">
                          <div style="line-height: 12pt; padding: 3px 0px 5px; font-size: 11pt; text-align: left;">3.</div>
                        </td>
                        <td style="width: auto; vertical-align: top;">
                          <div style="line-height: 12pt; padding: 3px 0px 5px; font-size: 11pt;"><font style="font-weight: bold;">Strengthen 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 style="line-height: 14pt;"><br style="line-height: 14pt;">
                </div>
                <div style="line-height: 17pt; padding: 5px 0px 0px; font-family: Arial; font-size: 14pt; font-weight: bold;">Financials</div>
                <div style="line-height: 12.15pt;"><br style="line-height: 12.15pt;">
                </div>
                <div style="line-height: 12pt; font-family: Arial; font-size: 11pt;">Net sales were USD 13.2 billion (+12%, +15% cc), with volume contributing 15 percentage points to growth. Generic competition had a negative impact of 2
                  percentage points 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; font-family: Arial; font-size: 11pt;">Operating income was USD 4.7 billion (+38%, +44% cc), mainly driven by higher net sales, partly offset by higher investments behind priority brands and
                  launches.</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; font-family: Arial; font-size: 11pt;">Net income was USD 3.6 billion (+34%, +37% cc), mainly driven by higher operating income, partly offset by higher income taxes. EPS was USD 1.83 (+40%,
                  +42% 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; font-family: Arial; font-size: 11pt;">Core operating income was USD 5.6 billion (+23%, +27% cc), mainly driven by higher net sales, partly offset by higher investments behind priority brands
                  and launches, and R&amp;D investments. Core operating income margin was 42.1% of net sales, increasing 3.7 percentage points (4.0 percentage points cc).</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; font-family: Arial; font-size: 11pt;">Core net income was USD 4.5 billion (+22%, +26% cc), mainly due to higher core operating income. Core EPS was USD 2.28 (+27%, +31% 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; font-family: Arial; font-size: 11pt;">Free cash flow amounted to USD 3.4 billion (+66% USD), compared with USD 2.0 billion in the prior-year quarter, driven by higher net cash flows from
                  operating activities.</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;">Q1 priority brands</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; 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 Q1 growth) including:</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <table cellspacing="0" cellpadding="0" id="zb8bd8f6b142d4804936b263355061ff9" 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: 24.22%; padding: 4px 0px 3px 5px;">
                        <div style="line-height: 12pt; font-size: 11pt; font-style: italic; font-weight: bold;">Entresto</div>
                      </td>
                      <td style="border-bottom: 1px solid #000000; border-top: 1px solid; vertical-align: top; width: 75.78%; padding: 4px 0px 3px;">
                        <div style="line-height: 12pt; font-size: 11pt;">(USD 2 261 million, +22% cc) sustained robust, demand-led growth globally, including in China and Japan with increased penetration in
                          hypertension</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 24.22%; padding: 4px 0px 3px 5px;">
                        <div style="line-height: 12pt; font-size: 11pt; font-style: italic; font-weight: bold;">Kisqali</div>
                      </td>
                      <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 75.78%; padding: 4px 0px 3px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">(USD 956 million, +56% cc) sales grew strongly across all regions, including +87% growth in the US with strong momentum from the
                          recently launched early</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;"> <br>
                </div>
                <div style="line-height: 12pt; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;"> <br>
                </div>
                <div style="line-height: 12pt; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;"> <br>
                </div>
                <div style="line-height: 12pt; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;">
                  <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="line-height: 12pt; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;"> <br>
                </div>
                <div style="line-height: 12pt; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;"> <br>
                </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 style="line-height: 12pt; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;"> <br>
                </div>
                <div style="line-height: 12pt; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;"> <br>
                </div>
                <div style="line-height: 12pt; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;"> <br>
                </div>
                <div style="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: 24.22%; padding: 4px 0px 3px 5px;"><br>
                        </td>
                        <td style="border-bottom: 1px solid #000000; border-top: 1px solid; vertical-align: top; width: 75.78%; padding: 4px 0px 3px;">
                          <div style="line-height: 12pt; color: #000000; font-size: 11pt;">breast cancer indication as well as continued share gains in metastatic breast cancer</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 24.22%; padding: 4px 0px 3px 5px;">
                          <div style="line-height: 12pt; font-size: 11pt; font-style: italic; font-weight: bold;">Kesimpta</div>
                        </td>
                        <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 75.78%; padding: 4px 0px 3px;">
                          <div style="line-height: 12pt; font-size: 11pt;">(USD 899 million, +43% cc) sales grew across all regions driven by increased demand and strong access</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 24.22%; padding: 4px 0px 3px 5px;">
                          <div style="line-height: 12pt; font-size: 11pt; font-style: italic; font-weight: bold;">Cosentyx</div>
                        </td>
                        <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 75.78%; padding: 4px 0px 3px;">
                          <div style="line-height: 12pt; font-size: 11pt;">(USD 1 534 million, +18% cc) sales grew mainly in the US, emerging growth markets and Europe, driven by recent launches as well as volume
                            growth in core indications</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 24.22%; padding: 4px 0px 3px 5px;">
                          <div style="line-height: 12pt; font-size: 11pt; font-style: italic; font-weight: bold;">Leqvio</div>
                        </td>
                        <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 75.78%; padding: 4px 0px 3px;">
                          <div style="line-height: 12pt; font-size: 11pt;">(USD 257 million, +72% cc) continued 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: 24.22%; padding: 4px 0px 3px 5px;">
                          <div style="line-height: 12pt; font-size: 11pt; font-style: italic; font-weight: bold;">Scemblix</div>
                        </td>
                        <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 75.78%; padding: 4px 0px 3px;">
                          <div style="line-height: 12pt; font-size: 11pt;">(USD 238 million, +76% cc) sales grew across all regions, demonstrating the continued high unmet need in CML and strong momentum from the
                            recently launched early-line indication in the US</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 24.22%; padding: 4px 0px 3px 5px;">
                          <div style="line-height: 12pt; font-size: 11pt; font-style: italic; font-weight: bold;">Fabhalta</div>
                        </td>
                        <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 75.78%; padding: 4px 0px 3px;">
                          <div style="line-height: 12pt; font-size: 11pt;">(USD 81 million) sales grew driven by continued launch execution across all markets in PNH as well as the recent launch in IgAN in the US</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 24.22%; padding: 4px 0px 3px 5px;">
                          <div style="line-height: 12pt; font-size: 11pt; font-style: italic; font-weight: bold;">Pluvicto</div>
                        </td>
                        <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 75.78%; padding: 4px 0px 3px;">
                          <div style="line-height: 12pt; font-size: 11pt;">(USD 371 million, +21% cc) continued stable performance in the US and grew in Europe in the mCRPC post-taxane setting. With the FDA&#8217;s approval
                            for earlier use before chemotherapy, which approximately triples the eligible patient population, the focus is on driving demand in established RLT sites while activating new sites and supporting referring providers to enable
                            patient access</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 24.22%; padding: 4px 0px 3px 5px;">
                          <div style="line-height: 12pt; font-size: 11pt; font-style: italic; font-weight: bold;">Zolgensma</div>
                        </td>
                        <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 75.78%; padding: 4px 0px 3px;">
                          <div style="line-height: 12pt; font-size: 11pt;">(USD 327 million, +13% cc) sales grew as it continues to demonstrate strong performance in the incident population</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 24.22%; padding: 4px 0px 3px 5px;">
                          <div style="line-height: 12pt; font-size: 11pt; font-style: italic; font-weight: bold;">Lutathera</div>
                        </td>
                        <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 75.78%; padding: 4px 0px 3px;">
                          <div style="line-height: 12pt; font-size: 11pt;">(USD 193 million, +15% cc) sales grew mainly in the US, Europe and Japan due to increased demand and earlier line adoption particularly in the
                            US and Japan</div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div style="line-height: 12pt; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;"> <br>
                </div>
                <div style="line-height: 12pt; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;"> <br>
                </div>
                <div style="line-height: 12pt; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;">Net sales of the top 20 brands in the first quarter</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <table cellspacing="0" cellpadding="0" id="zc469e00e9bcc45b4bd3a983b14ed002c" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;">

                    <tr>
                      <td style="vertical-align: top; white-space: nowrap; width: 41.47%; padding: 0px 0px 4px;">&#160;</td>
                      <td style="vertical-align: bottom; white-space: nowrap; width: 21.58%; padding: 0px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt; font-weight: bold;">Q1 2025</div>
                      </td>
                      <td style="vertical-align: bottom; white-space: nowrap; width: 36.95%; padding: 0px 10px 4px 0px;" colspan="2">
                        <div style="text-align: center; line-height: 13.1pt; font-size: 11pt;">% change</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 2px solid; vertical-align: top; width: 41.47%; padding: 0px 0px 4px;">&#160;</td>
                      <td style="border-bottom: 2px solid; vertical-align: bottom; width: 21.58%; padding: 0px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt; font-weight: bold;">USD m</div>
                      </td>
                      <td style="border-bottom: 2px solid; vertical-align: bottom; width: 18.86%; padding: 0px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">USD</div>
                      </td>
                      <td style="border-bottom: 2px solid; vertical-align: bottom; width: 18.09%; padding: 0px 5px 4px 0px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">cc</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 41.47%; padding: 1px 0px 4px 5px;">
                        <div style="line-height: 13.1pt; font-size: 11pt; font-style: italic;">Entresto</div>
                      </td>
                      <td style="border-bottom: 1px dotted rgb(0, 0, 0); vertical-align: middle; white-space: nowrap; width: 21.58%; padding: 1px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">2 261</div>
                      </td>
                      <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 18.86%; padding: 1px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">20</div>
                      </td>
                      <td style="border-bottom: 1px dotted; vertical-align: middle; white-space: nowrap; width: 18.09%; padding: 1px 5px 4px 0px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">22</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 41.47%; padding: 1px 0px 4px 5px;">
                        <div style="line-height: 13.1pt; font-size: 11pt; font-style: italic;">Cosentyx</div>
                      </td>
                      <td style="border-bottom: 1px dotted rgb(0, 0, 0); vertical-align: middle; white-space: nowrap; width: 21.58%; padding: 1px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">1 534</div>
                      </td>
                      <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 18.86%; padding: 1px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">16</div>
                      </td>
                      <td style="border-bottom: 1px dotted; vertical-align: middle; white-space: nowrap; width: 18.09%; padding: 1px 5px 4px 0px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">18</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 41.47%; padding: 1px 0px 4px 5px;">
                        <div style="line-height: 13.1pt; font-size: 11pt; font-style: italic;">Kisqali</div>
                      </td>
                      <td style="border-bottom: 1px dotted rgb(0, 0, 0); vertical-align: middle; white-space: nowrap; width: 21.58%; padding: 1px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;956</div>
                      </td>
                      <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 18.86%; padding: 1px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">52</div>
                      </td>
                      <td style="border-bottom: 1px dotted; vertical-align: middle; white-space: nowrap; width: 18.09%; padding: 1px 5px 4px 0px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">56</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 41.47%; padding: 1px 0px 4px 5px;">
                        <div style="line-height: 13.1pt; font-size: 11pt; font-style: italic;">Kesimpta</div>
                      </td>
                      <td style="border-bottom: 1px dotted rgb(0, 0, 0); vertical-align: middle; white-space: nowrap; width: 21.58%; padding: 1px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;899</div>
                      </td>
                      <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 18.86%; padding: 1px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">41</div>
                      </td>
                      <td style="border-bottom: 1px dotted; vertical-align: middle; white-space: nowrap; width: 18.09%; padding: 1px 5px 4px 0px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">43</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 41.47%; padding: 1px 0px 4px 5px;">
                        <div style="line-height: 13.1pt; font-size: 11pt; font-style: italic;">Tafinlar + Mekinist</div>
                      </td>
                      <td style="border-bottom: 1px dotted rgb(0, 0, 0); vertical-align: middle; white-space: nowrap; width: 21.58%; padding: 1px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;552</div>
                      </td>
                      <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 18.86%; padding: 1px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">16</div>
                      </td>
                      <td style="border-bottom: 1px dotted; vertical-align: middle; white-space: nowrap; width: 18.09%; padding: 1px 5px 4px 0px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">19</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 41.47%; padding: 1px 0px 4px 5px;">
                        <div style="line-height: 13.1pt; font-size: 11pt; font-style: italic;">Promacta/Revolade</div>
                      </td>
                      <td style="border-bottom: 1px dotted rgb(0, 0, 0); vertical-align: middle; white-space: nowrap; width: 21.58%; padding: 1px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;546</div>
                      </td>
                      <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 18.86%; padding: 1px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">5</div>
                      </td>
                      <td style="border-bottom: 1px dotted; vertical-align: middle; white-space: nowrap; width: 18.09%; padding: 1px 5px 4px 0px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">8</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 41.47%; padding: 1px 0px 4px 5px;">
                        <div style="line-height: 13.1pt; font-size: 11pt; font-style: italic;">Jakavi</div>
                      </td>
                      <td style="border-bottom: 1px dotted rgb(0, 0, 0); vertical-align: middle; white-space: nowrap; width: 21.58%; padding: 1px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;492</div>
                      </td>
                      <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 18.86%; padding: 1px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">3</div>
                      </td>
                      <td style="border-bottom: 1px dotted; vertical-align: middle; white-space: nowrap; width: 18.09%; padding: 1px 5px 4px 0px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">7</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 41.47%; padding: 1px 0px 4px 5px;">
                        <div style="line-height: 13.1pt; font-size: 11pt; font-style: italic;">Xolair</div>
                      </td>
                      <td style="border-bottom: 1px dotted rgb(0, 0, 0); vertical-align: middle; white-space: nowrap; width: 21.58%; padding: 1px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;456</div>
                      </td>
                      <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 18.86%; padding: 1px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">14</div>
                      </td>
                      <td style="border-bottom: 1px dotted; vertical-align: middle; white-space: nowrap; width: 18.09%; padding: 1px 5px 4px 0px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">19</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 41.47%; padding: 1px 0px 4px 5px;">
                        <div style="line-height: 13.1pt; font-size: 11pt; font-style: italic;">Ilaris</div>
                      </td>
                      <td style="border-bottom: 1px dotted rgb(0, 0, 0); vertical-align: middle; white-space: nowrap; width: 21.58%; padding: 1px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;419</div>
                      </td>
                      <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 18.86%; padding: 1px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">18</div>
                      </td>
                      <td style="border-bottom: 1px dotted; vertical-align: middle; white-space: nowrap; width: 18.09%; padding: 1px 5px 4px 0px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">20</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 41.47%; padding: 1px 0px 4px 5px;">
                        <div style="line-height: 13.1pt; font-size: 11pt; font-style: italic;">Tasigna</div>
                      </td>
                      <td style="border-bottom: 1px dotted rgb(0, 0, 0); vertical-align: middle; white-space: nowrap; width: 21.58%; padding: 1px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;377</div>
                      </td>
                      <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 18.86%; padding: 1px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">-5</div>
                      </td>
                      <td style="border-bottom: 1px dotted; vertical-align: middle; white-space: nowrap; width: 18.09%; padding: 1px 5px 4px 0px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">-2</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 41.47%; padding: 1px 0px 4px 5px;">
                        <div style="line-height: 13.1pt; font-size: 11pt; font-style: italic;">Pluvicto</div>
                      </td>
                      <td style="border-bottom: 1px dotted rgb(0, 0, 0); vertical-align: middle; white-space: nowrap; width: 21.58%; padding: 1px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;371</div>
                      </td>
                      <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 18.86%; padding: 1px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">20</div>
                      </td>
                      <td style="border-bottom: 1px dotted; vertical-align: middle; white-space: nowrap; width: 18.09%; padding: 1px 5px 4px 0px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">21</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 41.47%; padding: 1px 0px 4px 5px;">
                        <div style="line-height: 13.1pt; font-size: 11pt; font-style: italic;">Zolgensma</div>
                      </td>
                      <td style="border-bottom: 1px dotted rgb(0, 0, 0); vertical-align: middle; white-space: nowrap; width: 21.58%; padding: 1px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;327</div>
                      </td>
                      <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 18.86%; padding: 1px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">11</div>
                      </td>
                      <td style="border-bottom: 1px dotted; vertical-align: middle; white-space: nowrap; width: 18.09%; padding: 1px 5px 4px 0px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">13</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 41.47%; padding: 1px 0px 4px 5px;">
                        <div style="line-height: 13.1pt; font-size: 11pt;"><font style="font-style: italic;">Sandostatin </font>Group</div>
                      </td>
                      <td style="border-bottom: 1px dotted rgb(0, 0, 0); vertical-align: middle; white-space: nowrap; width: 21.58%; padding: 1px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;317</div>
                      </td>
                      <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 18.86%; padding: 1px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">-11</div>
                      </td>
                      <td style="border-bottom: 1px dotted; vertical-align: middle; white-space: nowrap; width: 18.09%; padding: 1px 5px 4px 0px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">-9</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 41.47%; padding: 1px 0px 4px 5px;">
                        <div style="line-height: 13.1pt; font-size: 11pt; font-style: italic;">Leqvio</div>
                      </td>
                      <td style="border-bottom: 1px dotted rgb(0, 0, 0); vertical-align: middle; white-space: nowrap; width: 21.58%; padding: 1px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;257</div>
                      </td>
                      <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 18.86%; padding: 1px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">70</div>
                      </td>
                      <td style="border-bottom: 1px dotted; vertical-align: middle; white-space: nowrap; width: 18.09%; padding: 1px 5px 4px 0px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">72</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 41.47%; padding: 1px 0px 4px 5px;">
                        <div style="line-height: 13.1pt; font-size: 11pt; font-style: italic;">Scemblix</div>
                      </td>
                      <td style="border-bottom: 1px dotted rgb(0, 0, 0); vertical-align: middle; white-space: nowrap; width: 21.58%; padding: 1px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;238</div>
                      </td>
                      <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 18.86%; padding: 1px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">75</div>
                      </td>
                      <td style="border-bottom: 1px dotted; vertical-align: middle; white-space: nowrap; width: 18.09%; padding: 1px 5px 4px 0px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">76</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 41.47%; padding: 1px 0px 4px 5px;">
                        <div style="line-height: 13.1pt; font-size: 11pt; font-style: italic;">Lutathera</div>
                      </td>
                      <td style="border-bottom: 1px dotted rgb(0, 0, 0); vertical-align: middle; white-space: nowrap; width: 21.58%; padding: 1px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;193</div>
                      </td>
                      <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 18.86%; padding: 1px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">14</div>
                      </td>
                      <td style="border-bottom: 1px dotted; vertical-align: middle; white-space: nowrap; width: 18.09%; padding: 1px 5px 4px 0px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">15</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 41.47%; padding: 1px 0px 4px 5px;">
                        <div style="line-height: 13.1pt; font-size: 11pt; font-style: italic;">Lucentis</div>
                      </td>
                      <td style="border-bottom: 1px dotted rgb(0, 0, 0); vertical-align: middle; white-space: nowrap; width: 21.58%; padding: 1px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;189</div>
                      </td>
                      <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 18.86%; padding: 1px 0px 4px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">-40</div>
                      </td>
                      <td style="border-bottom: 1px dotted; vertical-align: middle; white-space: nowrap; width: 18.09%; padding: 1px 5px 4px 0px;">
                        <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">-38</div>
                      </td>
                    </tr>

                </table>
                <div style="line-height: 17pt;"><br style="line-height: 17pt;">
                </div>
                <div style="line-height: 12.15pt; font-family: Arial; font-size: 14pt; font-weight: bold;"> <br>
                </div>
                <div style="line-height: 12.15pt; font-family: Arial; font-size: 14pt; font-weight: bold;"> <br>
                </div>
                <div style="line-height: 12.15pt; font-family: Arial; font-size: 14pt; font-weight: bold;">
                  <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="line-height: 12.15pt; font-family: Arial; font-size: 14pt; font-weight: bold;"> <br>
                </div>
                <div style="line-height: 12.15pt; font-family: Arial; font-size: 14pt; font-weight: bold;"> <br>
                </div>
                <div style="line-height: 12.15pt; font-family: Arial; font-size: 14pt; font-weight: bold;"> </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 style="line-height: 12.15pt; font-family: Arial; font-size: 14pt; font-weight: bold;"><br>
                  <br>
                </div>
                <div style="line-height: 12.15pt; font-family: Arial; font-size: 14pt; font-weight: bold;"> <br>
                </div>
                <div style="line-height: 12.15pt; 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;">

                      <tr>
                        <td style="border-bottom: 1px dotted #000000; border-top: 1px dotted; vertical-align: middle; white-space: nowrap; width: 41.5%; padding: 1px 0px 4px 5px;">
                          <div style="line-height: 13.1pt; font-size: 11pt;"><font style="font-style: italic;">Exforge </font>Group</div>
                        </td>
                        <td style="border-bottom: 1px dotted #000000; border-top: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 21.56%; padding: 1px 0px 4px;">
                          <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;179</div>
                        </td>
                        <td style="border-bottom: 1px dotted #000000; border-top: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 18.86%; padding: 1px 0px 4px;">
                          <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">-7</div>
                        </td>
                        <td style="border-bottom: 1px dotted #000000; border-top: 1px dotted; vertical-align: middle; white-space: nowrap; width: 18.08%; padding: 1px 5px 4px 0px;">
                          <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">-1</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 41.5%; padding: 1px 0px 4px 5px;">
                          <div style="line-height: 13.1pt; font-size: 11pt;"><font style="font-style: italic;">Diovan </font>Group</div>
                        </td>
                        <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 21.56%; padding: 1px 0px 4px;">
                          <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;150</div>
                        </td>
                        <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 18.86%; padding: 1px 0px 4px;">
                          <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">7</div>
                        </td>
                        <td style="border-bottom: 1px dotted #000000; vertical-align: middle; white-space: nowrap; width: 18.08%; padding: 1px 5px 4px 0px;">
                          <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">12</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 2px solid #000000; vertical-align: middle; white-space: nowrap; width: 41.5%; padding: 1px 0px 4px 5px;">
                          <div style="line-height: 13.1pt; font-size: 11pt;"><font style="font-style: italic;">Galvus </font>Group</div>
                        </td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: middle; white-space: nowrap; width: 21.56%; padding: 1px 0px 4px;">
                          <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;124</div>
                        </td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: middle; white-space: nowrap; width: 18.86%; padding: 1px 0px 4px;">
                          <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">-17</div>
                        </td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: middle; white-space: nowrap; width: 18.08%; padding: 1px 5px 4px 0px;">
                          <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">-11</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 2px solid #000000; vertical-align: middle; white-space: nowrap; width: 41.5%; padding: 1px 0px 4px 5px;">
                          <div style="line-height: 13.1pt; font-size: 11pt;">Top 20 brands total</div>
                        </td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: middle; white-space: nowrap; width: 21.56%; padding: 1px 0px 4px;">
                          <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">10 837</div>
                        </td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: middle; white-space: nowrap; width: 18.86%; padding: 1px 0px 4px;">
                          <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">17</div>
                        </td>
                        <td style="border-bottom: 2px solid #000000; vertical-align: middle; white-space: nowrap; width: 18.08%; padding: 1px 5px 4px 0px;">
                          <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">19</div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div style="line-height: 12.15pt; font-family: Arial; font-size: 14pt; font-weight: bold;"> <br>
                </div>
                <div style="line-height: 12.15pt; font-family: Arial; font-size: 14pt; font-weight: bold;"> <br>
                </div>
                <div style="line-height: 12.15pt; padding: 5px 0px 0px; font-family: Arial; font-size: 14pt; font-weight: bold;">R&amp;D update - key developments from the first quarter</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; padding: 5px 0px 2px; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;">New approvals</div>
                <table cellspacing="0" cellpadding="0" border="0" id="z70ad427beeed496b923c7c3282530206" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;">

                    <tr>
                      <td style="border-bottom: 1px solid rgb(0, 0, 0); border-top: 1px solid; vertical-align: top; width: 21.5%; padding: 4px 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 rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0); vertical-align: top; width: 78.5%; padding: 4px 0px 3px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">FDA expanded the indication for <font style="font-style: italic;">Pluvicto</font> to
                          include patients with PSMA-positive metastatic castration-resistant prostate cancer (mCRPC) who have been treated with an androgen receptor pathway inhibitor and are considered appropriate to delay chemotherapy, approximately
                          tripling the eligible patient population.</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: 21.5%; padding: 4px 0px 3px 5px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-style: italic; font-weight: bold;">Vanrafia</div>
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">(atrasentan)</div>
                      </td>
                      <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: 78.5%; padding: 4px 0px 3px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">FDA granted an accelerated approval for <font style="font-style: italic;">Vanrafia</font>&#160;for
                          the reduction of proteinuria in adults with primary immunoglobulin A nephropathy (IgAN) at risk of rapid disease progression. <font style="font-style: italic;">Vanrafia</font>&#160;can be
                          seamlessly added to supportive care in IgAN and used as a foundational therapy.</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: 21.5%; padding: 4px 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 rgb(0, 0, 0); vertical-align: top; width: 78.5%; padding: 4px 0px 3px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;"><font style="font-style: italic;">Fabhalta</font> was approved by the US FDA, European
                          Commission and China&#8217;s NMPA for adult patients with C3 glomerulopathy (C3G), making it the first and only treatment approved for this condition in all three markets.</div>
                      </td>
                    </tr>

                </table>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; padding: 5px 0px 1px; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;">Regulatory updates</div>
                <table cellspacing="0" cellpadding="0" id="z73c472cf792d4d1bac130db9c4d9e011" 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: 21.5%; padding: 4px 0px 3px 5px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-weight: bold;">Remibrutinib</div>
                      </td>
                      <td style="border-bottom: 1px solid #000000; border-top: 1px solid #000000; vertical-align: top; width: 78.5%; padding: 4px 0px 3px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">Regulatory submissions for remibrutinib for the treatment of chronic spontaneous urticaria (CSU) were completed in the US, EU and
                          China. A priority review voucher was used in the US and approval is anticipated in H2 2025, and priority review was granted in China.</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 21.5%; padding: 4px 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: 78.5%; padding: 4px 0px 3px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">Regulatory submission for <font style="font-style: italic;">Scemblix</font> in adults with
                          newly diagnosed CML was completed in the EU based on 96-week data from the Phase III ASC4FIRST study.</div>
                      </td>
                    </tr>

                </table>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; padding: 5px 0px 1px; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;">Results from ongoing trials and other highlights</div>
                <table cellspacing="0" cellpadding="0" id="z841fd36bfd9348768eb2245fcbf1fc2e" 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: 21.64%; padding: 4px 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</div>
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt;">abeparvovec)</div>
                      </td>
                      <td style="border-bottom: 1px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0); vertical-align: top; width: 78.36%; padding: 4px 0px 3px;">
                        <div style="margin: 0px; line-height: 11.4pt; color: #000000; font-size: 11pt; text-indent: 0px;">Novartis announced positive safety and efficacy results from the Phase III program for
                          investigational intrathecal OAV101 IT in a broad population of patients aged two to &lt;18 years with spinal muscular atrophy (SMA). In the Phase III STEER study, treatment with OAV101 IT led to a statistically significant and
                          clinically meaningful 2.39-point improvement on the Hammersmith Functional Motor Scale Expanded vs. 0.51 points in the sham control arm. In addition, in the Phase IIIb STRENGTH study, treatment with OAV101 IT in patients who have
                          discontinued treatment with nusinersen or risdiplam demonstrated stabilization of motor function over 52 weeks of follow-up. OAV101 IT demonstrated a favorable safety profile, consistent in both treatment-na&#239;ve and
                          treatment-experienced patients. Data were presented at MDA.</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 21.64%; padding: 4px 0px 3px 5px;">
                        <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-weight: bold;">Remibrutinib</div>
                      </td>
                      <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: 78.36%; padding: 4px 0px 3px;">
                        <div style="margin: 0px 0px 0px 0px; line-height: 12pt; color: #000000; font-size: 11pt; text-indent: 0px;"><font style="font-style: italic;">The</font>&#160;<font style="font-style: italic;">New England Journal of Medicine</font> published data from the 24-week double-blind placebo-controlled period of the Phase III REMIX-1 and -2 studies. Remibrutinib
                          showed early symptom improvement and sustained efficacy, with improvements in CSU symptoms compared to placebo observed as early as week 1 and response rate maintained through the double-blind treatment period. Remibrutinib was
                          well tolerated, with overall adverse event rates comparable to placebo.</div>
                        <div style="line-height: 12pt;"><font style="line-height: 12pt;">&#160;</font></div>
                        <div style="margin: 0px 0px 0px 0px; line-height: 12pt; font-size: 11pt; text-indent: 0px;">Multiple analyses of the REMIX-1 and -2 trials were presented at medical congresses in Q1. At AAAAI,
                          long-term results showed that patients experienced improved urticaria control within two weeks of starting treatment. Patients who switched from placebo to remibrutinib at week 24 achieved similar improvements through week 52. At
                          AAD, data was presented showing that treatment with remibrutinib had positive effects on sleep and daily activities for CSU patients.</div>
                      </td>
                    </tr>

                </table>
                <div style="line-height: 14pt;"><br style="line-height: 14pt;">
                </div>
                <div style="line-height: 17pt; padding: 5px 0px 0px; font-family: Arial; font-size: 14pt; font-weight: bold;"> <br>
                </div>
                <div style="line-height: 17pt; padding: 5px 0px 0px; font-family: Arial; font-size: 14pt; font-weight: bold;">
                  <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>
                <div style="line-height: 17pt; padding: 5px 0px 0px; font-family: Arial; font-size: 14pt; font-weight: bold;"> <br>
                </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 style="line-height: 17pt; padding: 0px; font-family: Arial; font-size: 14pt; font-weight: bold;"> <br>
                </div>
                <div style="line-height: 17pt; padding: 0px; font-family: Arial; font-size: 14pt; font-weight: bold;"> <br>
                </div>
                <div style="line-height: 17pt; padding: 5px 0px 0px; 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;">

                      <tr>
                        <td style="border-bottom: 1px solid #000000; border-top: 1px solid; vertical-align: top; width: 21.64%; padding: 4px 0px 3px 5px;">
                          <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-weight: bold;">Ianalumab</div>
                        </td>
                        <td style="border-bottom: 1px solid #000000; border-top: 1px solid #000000; vertical-align: top; width: 78.36%; padding: 4px 0px 3px;">
                          <div style="margin: 0px; line-height: 12pt; color: #000000; font-size: 11pt; text-indent: 0px;">The results of Phase II VAYHIT3 study in adult patients with advanced primary ITP, previously
                            treated with at least a corticosteroid and a thrombopoietin receptor agonist, indicate that a short course of ianalumab has clinically meaningful efficacy and is well tolerated in these patients. These results will be presented
                            at a future medical meeting and are expected to support a filing in second-line ITP, based on the Phase III VAYHIT2 study, expected to read out in H2 2025.</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 21.64%; padding: 4px 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 rgb(0, 0, 0); vertical-align: top; width: 78.36%; padding: 4px 0px 3px;">
                          <div style="margin: 0px 0px 0px 0px; line-height: 12pt; color: #000000; font-size: 11pt; text-indent: 0px;">Novartis has completed the acquisition of Anthos Therapeutics, a clinical-stage
                            biopharmaceutical company developing abelacimab, a potential first-in-class monoclonal antibody targeting the FXI inhibition pathway in development for the prevention of stroke and systemic embolism in patients with atrial
                            fibrillation. The acquisition adds a Phase III asset and is aligned with the Novartis growth strategy and expertise in the cardiovascular therapeutic area.</div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div style="line-height: 17pt; padding: 5px 0px 0px; font-family: Arial; font-size: 14pt; font-weight: bold;"> <br>
                </div>
                <div style="line-height: 17pt; padding: 5px 0px 0px; 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; 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; font-family: Arial; font-size: 11pt;">In Q1 2025, Novartis repurchased a total of 24.8 million shares for USD 2.6 billion on the SIX Swiss Exchange second trading line under the up-to USD 15
                  billion share buyback announced in July 2023 (with up to USD 2.7 billion still to be executed). In addition, 1.5 million shares (equity value of USD 0.2 billion) were repurchased from employees. In the same period, 10.5 million shares
                  (equity value of USD 0.3 billion) were delivered to employees related to equity-based compensation plans. Novartis aims to offset the dilutive impact from equity-based compensation plans of employees over the remainder of the year.
                  Consequently, the total number of shares outstanding decreased by 15.8 million versus December 31, 2024. These treasury share transactions resulted in an equity decrease of USD 2.5 billion and a net cash outflow of USD 2.7 billion.</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; font-family: Arial; font-size: 11pt;">Net debt increased to USD 22.3 billion at March 31, 2025, compared with USD 16.1 billion at December 31, 2024. The increase was mainly due to the free
                  cash flow of USD 3.4 billion being more than offset by the USD 5.3 billion annual net dividend payment in March (which is the gross dividend of USD 7.8 billion reduced by the USD 2.5 billion Swiss withholding tax that was paid in April
                  2025, according to its due date), cash outflows for treasury share transactions of USD 2.7 billion and cash outflows for purchases of intangible assets of USD 1.2 billion.</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; font-family: Arial; font-size: 11pt;">As of Q1 2025, 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: 17pt; font-family: Arial; font-size: 14pt; font-weight: bold;">2025 outlook</div>
                <table cellspacing="0" cellpadding="0" id="z0f423dfe78724fc1bbf1ae7a54f172c3" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;">

                    <tr>
                      <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 100%;" colspan="2">
                        <div style="line-height: 12pt;"><font style="line-height: 12pt;">&#160;</font></div>
                        <div style="line-height: 12pt; font-size: 11pt; font-weight: bold;">Barring unforeseen events; growth vs. prior year in cc</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid #000000; 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; 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-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;">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" id="z6f8b9faae26b4038bd5b50916a7e66fd" class="DSPFListTable" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;">

                      <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: 7px 0px 0px; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;">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-April exchange rates prevail for the remainder of 2025, the foreign exchange impact for the year would be 0 percentage points on
                  net sales and negative 2 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;">
                  <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="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;"> </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 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: 17pt; padding: 10px 0px 0px; 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>
                <table cellspacing="0" cellpadding="0" id="z68f6fe38dbc64e8e94d4d27c3d7e7656" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;">

                    <tr>
                      <td style="vertical-align: bottom; width: 45.44%; padding: 3px 0px 1px;">&#160;</td>
                      <td style="vertical-align: bottom; width: 13.66%; padding: 3px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Q1 2025</div>
                      </td>
                      <td style="vertical-align: bottom; width: 13.63%; padding: 3px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">Q1 2024</div>
                      </td>
                      <td style="vertical-align: bottom; width: 27.28%; padding: 3px 0px 1px;" colspan="2">
                        <div style="text-align: center; line-height: 9.1pt; color: #000000; font-size: 8pt;">% change</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 2px solid; vertical-align: bottom; width: 45.44%; padding: 3px 0px 1px;">
                        <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                      </td>
                      <td style="border-bottom: 2px solid; vertical-align: bottom; width: 13.66%; padding: 3px 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: 2px solid; vertical-align: bottom; width: 13.63%; padding: 3px 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: 2px solid; vertical-align: bottom; width: 13.64%; padding: 3px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">USD</div>
                      </td>
                      <td style="border-bottom: 2px solid; vertical-align: bottom; width: 13.63%; padding: 3px 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; vertical-align: bottom; width: 45.44%; padding: 3px 0px 1px 5px;">
                        <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Net sales to third parties</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 13.66%; padding: 3px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">13 233</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 13.63%; padding: 3px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">11 829</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 13.64%; padding: 3px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">12</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 13.63%; padding: 3px 5px 1px 0px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">15</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; width: 45.44%; padding: 3px 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: 13.66%; padding: 3px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">4 663</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 13.63%; padding: 3px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">3 373</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 13.64%; padding: 3px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">38</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 13.63%; padding: 3px 5px 1px 0px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">44</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; width: 45.44%; padding: 3px 0px 1px 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: 13.66%; padding: 3px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">35.2</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 13.63%; padding: 3px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-style: italic;">28.5</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 13.64%; padding: 3px 0px 1px;">
                        <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: 13.63%; padding: 3px 5px 1px 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: 45.44%; padding: 3px 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: 13.66%; padding: 3px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">3 609</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 13.63%; padding: 3px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">2 688</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 13.64%; padding: 3px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">34</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 13.63%; padding: 3px 5px 1px 0px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">37</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; width: 45.44%; padding: 3px 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: 13.66%; padding: 3px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">1.83</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 13.63%; padding: 3px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">1.31</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 13.64%; padding: 3px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">40</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 13.63%; padding: 3px 5px 1px 0px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">42</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; width: 45.44%; padding: 3px 0px 1px 5px;">
                        <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Net cash flows from operating activities</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 13.66%; padding: 3px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">3 645</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 13.63%; padding: 3px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">2 265</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 13.64%; padding: 3px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">61</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 13.63%; padding: 3px 5px 1px 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: 45.44%; padding: 3px 0px 1px 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: 13.66%; padding: 3px 0px 1px;">
                        <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: 13.63%; padding: 3px 0px 1px;">
                        <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: 13.64%; padding: 3px 0px 1px;">
                        <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: 13.63%; padding: 3px 5px 1px 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: 45.44%; padding: 3px 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: 13.66%; padding: 3px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">3 391</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 13.63%; padding: 3px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">2 038</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 13.64%; padding: 3px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">66</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 13.63%; padding: 3px 5px 1px 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: 45.44%; padding: 3px 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: 13.66%; padding: 3px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">5 575</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 13.63%; padding: 3px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">4 537</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 13.64%; padding: 3px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">23</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 13.63%; padding: 3px 5px 1px 0px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">27</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; width: 45.44%; padding: 3px 0px 1px 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: 13.66%; padding: 3px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">42.1</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 13.63%; padding: 3px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-style: italic;">38.4</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 13.64%; padding: 3px 0px 1px;">
                        <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: 13.63%; padding: 3px 5px 1px 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: 45.44%; padding: 3px 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: 13.66%; padding: 3px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">4 482</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 13.63%; padding: 3px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">3 681</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 13.64%; padding: 3px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">22</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 13.63%; padding: 3px 5px 1px 0px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">26</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; width: 45.44%; padding: 3px 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: 13.66%; padding: 3px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">2.28</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 13.63%; padding: 3px 0px 1px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">1.80</div>
                      </td>
                      <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 13.64%; padding: 3px 0px 1px;">
                        <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: 13.63%; padding: 3px 5px 1px 0px;">
                        <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">31</div>
                      </td>
                    </tr>

                </table>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 8pt; padding: 5px 0px 0px; font-family: Arial; font-size: 8pt; text-align: justify;"><font style="color: #000000;">1. Constant currencies (cc), core results and free cash flow are
                    non-IFRS measures. An explanation of non-IFRS measures can be found on </font>page 31 of <font style="color: #000000;">the Condensed
                    Interim Financial Report. Unless otherwise noted, all growth rates in this Release refer to same period in prior year.</font></div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; padding: 5px 0px 1px; font-family: Arial; font-size: 11pt; font-weight: bold;">Detailed financial results accompanying this press release are included in the Condensed Interim Financial
                  Report at the link below:</div>
                <div style="line-height: 12pt; color: #0563C1; font-family: Arial; font-size: 11pt;">
                  <div style="line-height: 12pt; color: #0563C1;"><u>https://ml-eu.globenewswire.com/resource/download/f5843473-7c9e-4c13-b263-db739fdcf6d6/</u></div>
                </div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; padding: 5px 0px 1px; font-family: Arial; font-size: 11pt; font-weight: bold;">Disclaimer</div>
                <div style="line-height: 11.4pt; font-family: Arial; font-size: 11pt;">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;anticipate,&#8221; &#8220;can,&#8221; &#8220;will,&#8221; &#8220;continue,&#8221; &#8220;ongoing,&#8221; &#8220;growth,&#8221; &#8220;launch,&#8221; &#8220;expect,&#8221; &#8220;expand,&#8221; &#8220;deliver,&#8221; &#8220;accelerate,&#8221; &#8220;deliver,&#8221; &#8220;guidance,&#8221; &#8220;outlook,&#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
                  that the 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 macroeconomic and geo- and</div>
                <div style="line-height: 11.4pt;"><br style="line-height: 11.4pt;">
                </div>
                <div style="line-height: 11.4pt; font-family: Arial; font-size: 11pt;"> <br>
                </div>
                <div style="line-height: 11.4pt; font-family: Arial; font-size: 11pt;"> <br>
                </div>
                <div style="line-height: 11.4pt; font-family: Arial; font-size: 11pt;"> <br>
                </div>
                <div style="line-height: 11.4pt; 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;6</div>
                        </td>
                        <td style="width: 33.33%;">
                          <div>&#160;</div>
                        </td>
                      </tr>

                  </table>
                </div>
                <div style="line-height: 11.4pt; font-family: Arial; font-size: 11pt;"> <br>
                </div>
                <div style="line-height: 11.4pt; font-family: Arial; font-size: 11pt;"> <br>
                </div>
                <div style="line-height: 11.4pt; font-family: Arial; font-size: 11pt;"> </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 style="line-height: 11.4pt; font-family: Arial; font-size: 11pt;"> <br>
                </div>
                <div style="line-height: 11.4pt; font-family: Arial; font-size: 11pt;"> <br>
                </div>
                <div style="line-height: 11.4pt; font-family: Arial; font-size: 11pt;"> <br>
                </div>
                <div style="line-height: 11.4pt; padding: 5px 0px 0px; font-family: Arial; font-size: 11pt;"> socio-political developments, including the impact of any potential tariffs on our products or the impact of 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: 11.4pt; font-family: Arial; font-size: 11pt;"> <br>
                </div>
                <div style="line-height: 11.4pt; font-family: Arial; font-size: 11pt;">All product names appearing in italics are trademarks owned by or licensed to Novartis.</div>
                <div style="line-height: 11.4pt;"><br style="line-height: 11.4pt;">
                </div>
                <div style="line-height: 12pt; padding: 5px 0px 1px; font-family: Arial; font-size: 11pt; font-weight: bold;">About Novartis</div>
                <div style="line-height: 11.4pt; 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 <font style="color: #000000;">nearly 300&#160;</font>million people worldwide.</div>
                <div style="line-height: 11.4pt;"><br style="line-height: 11.4pt;">
                </div>
                <div style="line-height: 11.4pt; font-family: Arial; font-size: 11pt;">Reimagine medicine with us: Visit us at <font style="font-weight: bold; color: #035697;">https://www.novartis.com</font>
                  and connect with us on <font style="font-weight: bold; color: #0460A9;">LinkedIn</font>,<font style="font-weight: bold; color: #0460A9;">&#160;Facebook</font>,<font style="font-weight: bold; color: #0460A9;">&#160;X</font> and <font style="font-weight: bold; color: #0460A9;">Instagram</font>.</div>
                <div style="line-height: 11.4pt;"><br style="line-height: 11.4pt;">
                </div>
                <div style="line-height: 12pt; font-family: Arial; font-size: 11pt;">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 style="color: #0563C1;"><u>https://www.novartis.com/investors/event-calendar</u></font><font style="color: #000000;">.</font></div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt; font-family: Arial; font-size: 11pt;">Detailed financial results accompanying this press release are included in the Condensed Interim 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 style="color: #0563C1;"><u>https://www.novartis.com/investors/event-calendar</u></font><font style="color: #000000;">.</font></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;"> <br>
                </div>
                <div style="line-height: 12pt; font-family: Arial; font-size: 11pt; font-weight: bold;">
                  <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 13pt; color: #000000; width: 100%;">

                      <tr>
                        <td style="width: 20.03%; padding: 0px;">
                          <div style="line-height: 12pt; padding: 0px 0px 2px; font-size: 11pt; font-weight: bold;">Important dates</div>
                        </td>
                        <td style="width: 79.97%; padding: 0px;">
                          <div style="text-align: left; line-height: 12pt;"><br>
                          </div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 20.03%; padding: 0px;"><font style="font-size: 11pt; color: #000000;">July 17, 2025</font><br>
                          <font class="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 180pt">&#160; </font></td>
                        <td style="width: 79.97%; padding: 0px;">
                          <div style="line-height: 12pt; padding: 1px 0px; text-align: left;">
                            <div style="line-height: 12pt;"><font style="font-size: 11pt; color: #000000;">Second quarter &amp; half year 2025 results</font></div>
                          </div>
                        </td>
                      </tr>
                      <tr>
                        <td rowspan="1" style="width: 20.03%; padding: 0px;"><font style="font-size: 11pt;">October 28, 2025</font></td>
                        <td rowspan="1" style="width: 79.97%; padding: 0px;">
                          <div style="line-height: 12pt; padding: 1px 0px; text-align: left;"><font style="color: #000000; font-size: 11pt;">Third quarter &amp; nine months 2025 results</font></div>
                        </td>
                      </tr>
                      <tr>
                        <td rowspan="1" style="width: 20.03%; padding: 0px;"><font style="font-size: 11pt; color: #000000;">November 19-20, 2025</font></td>
                        <td rowspan="1" style="width: 79.97%; padding: 0px;"><font style="font-size: 11pt; color: #000000;">Meet Novartis Management 2025 (London, UK)</font></td>
                      </tr>

                  </table>
                </div>
                <div><br>
                </div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="text-align: center; line-height: 12pt; font-family: Arial; font-size: 11pt;"># # #</div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                </div>
                <table cellspacing="0" cellpadding="0" id="z29b4fa18165248ff9a511c27df76373e" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;">

                    <tr>
                      <td style="width: 50.88%; vertical-align: top;" colspan="2">
                        <div style="line-height: 12pt; font-size: 11pt; font-weight: bold;">Novartis Media Relations</div>
                        <div style="line-height: 12pt; font-size: 11pt;">E-mail: media.relations@novartis.com</div>
                        <div style="line-height: 12pt;"><font style="line-height: 12pt;">&#160;</font></div>
                      </td>
                      <td style="width: 24.4%; vertical-align: top;">&#160;</td>
                      <td style="width: 24.72%; vertical-align: top;">&#160;</td>
                    </tr>
                    <tr>
                      <td style="width: 25.37%; vertical-align: top;">&#160;</td>
                      <td style="width: 25.5%; vertical-align: top;">&#160;</td>
                      <td style="width: 24.4%; vertical-align: top;">&#160;</td>
                      <td style="width: 24.72%; vertical-align: top;">&#160;</td>
                    </tr>
                    <tr>
                      <td style="width: 50.88%; vertical-align: top;" colspan="2">
                        <div style="line-height: 12pt; font-size: 11pt; font-weight: bold;">Novartis Investor Relations</div>
                        <div style="line-height: 12pt; font-size: 11pt;">Central investor relations line: +41 61 324 7944</div>
                        <div style="line-height: 12pt; font-size: 11pt;">E-mail: investor.relations@novartis.com</div>
                        <div style="line-height: 12pt;"><font style="line-height: 12pt;">&#160;</font></div>
                      </td>
                      <td style="width: 49.12%; vertical-align: top;" colspan="2">&#160;</td>
                    </tr>

                </table>
                <div style="line-height: 11.4pt;"><br style="line-height: 11.4pt;">
                </div>
                <div class="BRPFPageFooter">
                  <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
                  </div>
                </div>
                <div style="line-height: 8.2pt;"><font style="font-family: Arial; font-size: 11pt;"> <br>
                  </font></div>
              </div>
              <div>
                <div style="line-height: 0pt;">
                  <div style="line-height: 17.2pt;"><br>
                    <div><br>
                    </div>
                    <div><br>
                    </div>
                    <div><br>
                    </div>
                    <div><br>
                    </div>
                    <div><br>
                    </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;7</div>
                            </td>
                            <td style="width: 33.33%;">
                              <div>&#160;</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                    <div><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>
              <div>
                <div></div>
                <div style="line-height: 12.3pt;"><br style="line-height: 12.3pt;">
                </div>
                <div style="line-height: 12.3pt;">
                  <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 13pt; color: #000000; width: 100%;">


                  </table>
                </div>
              </div>
              <div></div>
              <div></div>
            </div>
          </div>
          <!--PROfilePageNumberReset%Num%2%%%-->
          <div class="BRPFPageFooter">
            <div style="line-height: 12.55pt;">
              <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 13pt; color: #000000; width: 100%;">
              </table>
            </div>
          </div>
        </div>
        <div> </div>
      </div>
    </div>
  </div>



</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>a250429-99_2.htm
<DESCRIPTION>99.2 CONDENSED FINANCIAL REPORT
<TEXT>

<html>
<head>
  <title>99.2 Condensed Financial Report</title>

</head>
<body style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'" bgcolor="#ffffff" text="#000000"">



<br />
    <img src="coverifr.jpg" border="0">
   <br>
  <br>
  <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; font-weight: normal; color:#000000;"></font><br>
    <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
  </div>
</div>
<br>
<br>

<a name="anchorId00316908"></a><p style="font-family:arial,helvetica,sans-serif; font-size:24pt; color:#000000; font-weight:bold;">Novartis First Quarter 2025  Condensed Interim 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;">OPERATING PERFORMANCE REVIEW
      <div style="float:right">3</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;">CASH FLOW AND BALANCE SHEET
      <div style="float:right">9</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">12</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 INTERIM 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">14</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">15</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">16</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">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 cash flows
      <div style="float:right">18</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 interim consolidated financial statements
      <div style="float:right">19</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">31</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">33</div></font></div>
<div style="padding-top:5px;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-style:italic;">NON-IFRS MEASURE FREE CASH FLOW
      <div style="float:right">35</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">36</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">36</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">37</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">38</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>
    <br>
  <br>
  <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; font-weight: normal; color:#000000;">2</font><br>
    <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
  </div>
</div>
<br>
<br>



<a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">Operating performance review</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;">First quarter</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 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;"> Q1 2025<br> USD m
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q1 2024<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">  1</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;">Net sales to third parties</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;233</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;829</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;"> 12</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;"> 15</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;">Other revenues</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>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 291</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;"> 33</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;">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;227</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -3&nbsp;096</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;"> -6</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;">Gross profit</div>
         </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;393</div>
         </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;024</div>
         </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;"> 18</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;">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;058</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -2&nbsp;840</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; 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;366</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -2&nbsp;421</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;">Other income</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;"> 249</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;"> -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;">Other expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -532</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -639</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;"> 15</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;">Operating 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;"> 4&nbsp;663</div>
         </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;373</div>
         </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;"> 44</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;">% 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;"> 35.2</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;"> 28.5</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="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;">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;"> -29</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 90</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 90</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;"> -270</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>
         <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;"> -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;">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;"> 17</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;"> 183</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>
      </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;">Income before taxes</div>
         </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;407</div>
         </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;129</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 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:#000000;"> 44</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</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:#666666;"> -441</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;"> -84</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 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;609</div>
         </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;688</div>
         </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;"> 37</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;">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;"> 1.83</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;"> 1.31</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;"> 40</div>
         </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>
      </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;">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; font-weight:bold; color:#000000;"> 3&nbsp;645</div>
         </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;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:#000000;"> 61</div>
         </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="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; 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>
      </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;">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;391</div>
         </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;038</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 66</div>
         </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="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 operating 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;"> 5&nbsp;575</div>
         </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;537</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 23</div>
         </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>
      </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-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;"> 42.1</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;"> 38.4</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="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;">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;"> 4&nbsp;482</div>
         </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;681</div>
         </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>
         <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>
      </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 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;"> 2.28</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 1.80</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;"> 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;"> 31</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;"></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> Constant currencies (cc), core results and free cash flow are non-IFRS measures. An
               explanation of non-IFRS measures can be found on page 31. Unless otherwise noted,
               all growth rates in this release refer to same period in prior-year.
            </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;">3</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;">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;">Novartis is a &#x201c;pure-play&#x201d; innovative medicines company. 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>Strengthen 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><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 (+12%, +15% cc), with volume contributing 15 percentage
   points to growth. Generic competition had a negative impact of 2 percentage points
   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 5.7 billion (+24%)
   and in the rest of the world USD 7.5 billion (+4%, +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 2.3 billion, +20%, +22% cc), <i>Kisqali</i> (USD 956 million, +52%, +56% cc), <i>Kesimpta</i> (USD 899 million, +41%, +43% cc), <i>Cosentyx</i> (USD 1.5 billion, +16%, +18% cc) and <i>Leqvio</i> (USD 257 million, +70%, +72% 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 5.7 billion, +24%), sales growth was mainly driven by <i>Kisqali, Entresto, Kesimpta </i>and<i> Cosentyx</i>. In Europe (USD 3.9 billion, +4%, +7% cc), sales growth was mainly driven by <i>Kesimpta, Entresto, Tafinlar + Mekinist, Pluvicto, Leqvio </i>and<i> Kisqali</i>, partly offset by erosion due to generic competition for <i>Lucentis</i> and <i>Gilenya</i>. Sales in emerging growth markets were USD 3.6 billion (+7%, +13% cc), including
   USD 1.2 billion of sales from China (+17%, +19% 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 4.7 billion (+38%, +44% cc), mainly driven by higher net
   sales, partly offset by higher investments behind priority brands and launches. Operating
   income margin was 35.2% of net sales, increasing 6.7 percentage points (7.1 percentage
   points in cc). Other revenue as a percentage of net sales increased by 0.4 percentage
   points (0.4 percentage points cc). Cost of goods sold as a percentage of net sales
   decreased by 1.8 percentage points (1.9 percentage points cc). R&amp;D expenses as a percentage
   of net sales decreased by 2.6 percentage points (2.8 percentage points cc). SG&amp;A expenses
   as a percentage of net sales decreased by 0.8 percentage points (1.1 percentage points
   cc). Other income and expense as a percentage of net sales increased the margin by
   1.1 percentage points (0.9 percentage points cc).
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Core adjustments were USD 0.9 billion, mainly from amortization, compared with USD
   1.2 billion in the prior-year quarter. Core adjustments decreased compared with the
   prior-year quarter mainly due to lower impairments and contingent consideration adjustments.

</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Core operating income was USD 5.6 billion (+23%, +27% cc), mainly driven by higher
   net sales, partly offset by higher investments behind priority brands and launches,
   and R&amp;D investments. Core operating income margin was 42.1% of net sales, increasing
   3.7 percentage points (4.0 percentage points cc). Other revenue as a percentage of
   net sales increased by 0.1 percentage points (cc). Core cost of goods sold as a percentage

</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;">4</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;">of net sales decreased by 0.7 percentage points (cc). Core R&amp;D expenses as a percentage
   of net sales decreased by 1.4 percentage points (cc). Core SG&amp;A expenses as a percentage
   of net sales decreased by 1.1 percentage points (cc). Core other income and expense
   as a percentage of net sales increased the margin by 0.7 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 270 million compared with USD 221 million in the
   prior-year quarter, mainly due to higher financial debt.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Other financial income and expense amounted to an income of USD 17 million, broadly
   in line with the 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 46 million compared
   with USD 96 million in the prior-year quarter, mainly due to lower interest income.
</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 first quarter was 18.1% compared with 14.1% in the prior-year
   quarter. The current year tax rate was negatively impacted by deferred tax expense
   related to a tax rate change in Switzerland, which will become effective January 1,
   2026, and a true-up adjustment to the prior-year income tax provision. The prior-year
   tax rate was favorably impacted by the effect of changes in uncertain tax positions.
   Excluding these impacts, the current and prior-year tax rate would have been 16.7%
   and 17.3% respectively. The decrease from the prior-year quarter was mainly the result
   of a change in profit mix.
</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 16.2%
   compared with 16.5% in the prior-year quarter. The decrease from the prior-year quarter
   was mainly the result of a change in pro&#xfb01;t mix.
</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 3.6 billion (+34%, +37% cc), mainly driven by higher operating
   income, partly offset by higher income taxes. EPS was USD 1.83 (+40%, +42% 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 4.5 billion (+22%, +26% cc), mainly due to higher core operating
   income. Core EPS was USD 2.28 (+27%, +31% 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 flows from operating activities amounted to USD 3.6 billion (+61% USD), compared
   with USD 2.3 billion in the prior-year quarter. Free cash flow amounted to USD 3.4
   billion (+66% USD), compared with USD 2.0 billion in the prior-year quarter, driven
   by higher net cash flows from operating activities.
</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 Q1 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;"> Q1 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q1 2024</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>
      </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;261</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;879</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;"> 20</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;"> 22</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;"> 257</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 151</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;"> 72</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;518</div>
         </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;030</div>
         </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;">   26</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" 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 2 261 million, +20%, +22% cc) sustained robust, demand-led growth, driven by
   the heart failure indication in the US and Europe, and both heart failure and hypertension
   in China and Japan. In the US, Novartis is in ANDA litigation with generic manufacturers,
   and in other litigations with generic manufacturers and FDA to protect its <i>Entresto</i> IP and regulatory rights. 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. Any US commercial
   launch of a generic <i>Entresto</i> product prior to the final outcome of these litigations may be at risk of later litigation
   developments.
</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;">5</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>Leqvio</i></b> (USD 257 million, +70%, +72% cc) sales grew across all regions, 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
   86 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;"> Q1 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q1 2024</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>
      </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;">Immunology</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;">Cosentyx</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;534</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;326</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;"> 16</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;"> 18</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;">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;"> 456</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 399</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;"> 19</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;"> 419</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 356</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;"> 20</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;409</div>
         </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;081</div>
         </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;"> 18</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> Net sales to third parties 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 1 534 million, +16%, +18% cc) sales grew mainly in the US, emerging growth markets
   and Europe, driven by strong demand from recent launches and volume growth in core
   indications. 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 456 million, ex-US +14%, +19% cc) growth was driven by the CSU indication, with
   a strong contribution from emerging growth markets. Novartis co-promotes <i>Xolair</i> with Genentech in the US and shares a portion of revenue as operating 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 419 million, +18%, +20% cc) sales grew across all regions, led by the US and
   Europe. 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;"> Q1 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q1 2024</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>
      </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;">Neuroscience</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;">Kesimpta</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;"> 899</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;"> 637</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;"> 41</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;"> 43</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;">Zolgensma</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 327</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 295</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;"> 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;">Aimovig</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:#666666;"> 76</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>
      </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;302</div>
         </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;008</div>
         </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;"> 31</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" 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 899 million, +41%, +43% 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 at-home self-administration for a broad population of RMS patients. <i>Kesimpta</i> is now approved in 90 countries with more than 135,000 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 327 million, +11%, +13% cc) sales grew as it continues to demonstrate strong
   performance in the incident population. <i>Zolgensma</i> is now approved in 59 countries with more 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 76 million, 0%, +3% cc) sales remained stable (USD) and grew (cc) 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>
<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><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;"> Q1 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q1 2024</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>
      </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;">Oncology</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;">Kisqali</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;"> 956</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;"> 627</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;"> 52</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;"> 56</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;"><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;"> 552</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>
         <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;"> 19</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;"> 546</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 520</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;"> 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;">Jakavi</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 492</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 478</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;"> 7</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;"> 377</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 395</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;">Pluvicto</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 371</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 310</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;"> 21</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;"> 238</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 136</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:#000000;"> 76</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;"> 193</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 169</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;"> 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;">Piqray/Vijoice</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 100</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 109</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>
      </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;2</sup></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:#666666;"> 6</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;906</div>
         </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;224</div>
         </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="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> 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="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> Net sales to third parties reflect <I>Fabhalta</I> sales for all indications.
            </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="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Kisqali</i></b> (USD 956 million, +52%, +56% cc) sales grew strongly across all regions, including
   +87% growth in the US, with strong momentum from the HR+/HER2- early breast cancer
   (eBC) launch as well as continued share gains in HR+/HER2- metastatic breast cancer
   (mBC). <i>Kisqali</i> performance reflects increasing recognition of the consistently demonstrated overall
   survival benefit across all Phase III clinical trials in mBC, as well as Category
   1 preferred NCCN Guidelines recommendation and highest ESMO-MCBS scores in both mBC
   and eBC indications. Novartis is in US ANDA litigation with a generic manufacturer.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Tafinlar</i></b><b> + </b><b><i>Mekinist </i></b>(USD 552 million, +16%, +19% cc) sales grew across all regions, 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>Promacta</i></b><b><i>/</i></b><b><i>Revolade</i></b> (USD 546 million, +5%, +8% 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>Jakavi</i></b> (USD 492 million, +3%, +7% cc) sales grew across all regions driven by strong demand
   in all indications. Incyte retains all rights to ruxolitinib (Jakafi&#xae;) 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 377 million, -5%, -2% cc) sales declined across most regions due to lower demand
   and increasing competition, partly offset by increased sales in the US.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Pluvicto</i></b> (USD 371 million, +20%, +21% cc) continued stable performance in the US and grew
   in Europe in the metastatic castration-resistant prostate cancer (mCRPC) post-taxane
   setting, while laying the foundation for the pre-taxane launch in the US. <i>Pluvicto</i> is the only PSMA-targeted radioligand therapy approved by the FDA to significantly
   delay progression after one ARPI and now before chemotherapy, for the treatment of
   adult patients with progressive, PSMA+ mCRPC. <i>Pluvicto</i> is now on the market in several ex-US countries in the mCRPC post-taxane setting.
   Novartis is in patent litigation with a manufacturer developing a radiopharmaceutical
   to treat PSMA+ prostate cancer.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Scemblix</i></b> (USD 238 million, +75%, +76% 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 approval in late 2024.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Lutathera</i></b> (USD 193 million, +14%, +15% cc) sales grew mainly in the US, Europe and Japan 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>Piqray</i></b><b><i>/</i></b><b><i>Vijoice</i></b> (USD 100 million, -8%, -8% cc) sales declined, driven by increased competition for
   <i>Piqray</i> in the US, partially offset by higher demand for <i>Vijoice</i>.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Fabhalta</i></b> (USD 81 million) sales grew driven by continued launch execution across all markets
   in PNH as well as the recent launch in IgAN 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><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;"> Q1 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q1 2024</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>
      </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;">Established brands</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; color:#000000;"><I>Sandostatin</I> Group</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;"> 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; color:#666666;"> 355</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;"> -11</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;"> -9</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;">Lucentis</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 189</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 314</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;"> -38</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;"> 179</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>
         <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</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;"> 150</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:#000000;"> 7</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; 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;"> 124</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>
         <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;"> -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;"> 100</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;"> -17</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; 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;"> 343</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 279</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;"> 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;">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;696</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;937</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;"> -8</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;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;"> 3&nbsp;486</div>
         </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;"> -7</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" 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 317 million, -11%, -9% cc) sales declined, primarily in the US due to erosion
   from generic competition.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Lucentis</i></b> (USD 189 million, ex-US -40%, -38% 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 179 million, -7%, -1% cc) sales declined mainly in Europe and the US.
</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 150 million, +7%, +12% cc) sales grew in China, the US and other emerging growth
   markets, partially offset by a decline in Europe.
</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 124 million, -17%, -11% cc) sales declined mainly in Japan due to generic competition.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Kymriah</i></b> (USD 100 million, -17%, -15% cc) sales declined across most markets, partly offset
   by increased uptake in the follicular lymphoma indication ex-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;">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><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;">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:#0070f7; font-weight:bold;">First quarter</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">Net cash flows from operating activities amounted to USD 3.6 billion, compared with
   USD 2.3 billion in the prior-year quarter. This increase was mainly driven by higher
   net income, adjusted for non-cash items and other adjustments, including divestment
   gains, and favorable changes in working capital.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Net cash inflows from investing activities amounted to USD 0.3 billion, compared with
   USD 0.9 billion net cash outflows 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 inflows from investing activities were mainly
   driven by the net proceeds from marketable securities, commodities and time deposits,
   amounting to USD 1.8 billion, mainly due to the maturity of time deposits. These cash
   inflows were partly offset by cash outflows of USD 1.2 billion for purchases of intangible
   assets and by USD 0.3 billion for purchases of property, plant and equipment.
</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 of USD 0.9
   billion were driven by USD 0.9 billion for purchases of intangible assets; USD 0.2
   billion for purchases of property, plant and equipment; and USD 0.3 billion for acquisitions
   and divestments of businesses, net. These cash outflows were partly offset by net
   proceeds of USD 0.5 billion from the sale of marketable securities, commodities and
   time deposits.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Net cash outflows used in financing activities amounted to USD 8.5 billion, compared
   with USD 5.2 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 financing activities were mainly
   driven by USD 5.3 billion for the annual net dividend payment (which is the gross
   dividend of USD 7.8 billion reduced by the USD 2.5 billion Swiss withholding tax,
   paid in April 2025, according to its due date), the USD 2.7 billion payments for treasury
   share transactions, and the USD 1.0 billion repayment of a US dollar denominated bond
   at maturity. These cash outflows were partly offset by the net increase in current
   financial debts of USD 0.6 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 financing activities of USD 5.2
   billion were mainly driven by USD 5.2 billion for the annual net dividend payment
   (which is the gross dividend of USD 7.6 billion reduced by the USD 2.4 billion Swiss
   withholding tax, paid in April 2024, according to its due date), as the payments for
   treasury share transactions of USD 1.1 billion were offset by the net increase in
   current financial debts of USD 1.2 billion.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Free cash flow amounted to USD 3.4 billion (+66% USD), compared with USD 2.0 billion
   in the prior-year quarter, driven by higher net cash flows from operating activities.
</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: 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 74.8 billion increased by USD 2.3 billion compared with December 31, 2024.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Intangible assets other than goodwill increased by USD 0.6 billion, mainly due to
   favorable currency translation adjustments and additions, partially offset by amortization.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Goodwill increased by USD 0.2 billion due to favorable currency translation adjustments.</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Property, plant and equipment increased by USD 0.2 billion, mainly due to favorable
   currency translation adjustments and additions, partially offset by depreciation.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Other non-current assets increased by USD 0.6 billion, mainly due to the increase
   in prepaid post-employment benefit plans primarily resulting from changes in the discount
   rates used to calculate the actuarial defined benefit obligations.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Deferred tax assets increased by USD 0.7 billion, and right-of-use assets, investments
   in associated companies and financial assets were broadly in line with December 31,
   2024.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b>Total current assets</b> of USD 25.1 billion decreased by USD 4.6 billion compared with December 31, 2024.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Cash and cash equivalents decreased by USD 4.4 billion as cash generated through operating
   activities of USD 3.6 billion was more than offset by the USD 5.3 billion annual net
   dividend payment (which is the gross dividend of USD 7.8 billion reduced by the USD
   2.5 billion Swiss withholding tax paid in April 2025, according to its due date),
   and USD 2.7 billion purchase of treasury shares.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Marketable securities, commodities, time deposits and derivative financial instruments
   decreased by USD 1.9 billion, mainly due to the maturity of time deposits.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Trade receivables increased by USD 1.2 billion, mainly due to the increase in net
   sales.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Other current assets increased by USD 0.4 billion, and inventories and income tax
   receivables were broadly in line with December 31, 2024.
</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 29.9 billion increased by USD 0.4 billion compared with December 31, 2024.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Non-current financial debt increased by USD 0.3 billion, and deferred tax liabilities,
   non-current lease liabilities and provisions and other non-current liabilities were
   broadly in line with December 31, 2024.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b>Total current liabilities</b> of USD 31.6 billion increased by USD 2.9 billion compared with December 31,2024.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Current financial debts and derivative financial instruments decreased by USD 0.4
   billion compared with December 31, 2024, mainly due to the repayment of a US dollar
   denominated bond of USD 1.0 billion at maturity, partially offset by the issuance
   of commercial paper notes of USD 0.4 billion mainly under the US commercial paper
   program.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Provisions and other current liabilities increased by USD 2.7 billion, mainly due
   to USD 2.5 billion Swiss withholding tax on the annual dividend to Novartis AG shareholders
   that was paid in April 2025, according to its due date. Trade payables decreased by
   USD 0.3 billion.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Current income tax liabilities increased by USD 1.0 billion, and current lease liabilities
   were broadly in line with December 31, 2024.
</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 5.7 billion to USD 38.5 billion compared with
   December 31, 2024.
</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 3.6 billion and favorable
   impact from currency translation differences of USD 0.7 billion being more than offset
   by the annual gross dividend to Novartis AG shareholders of USD 7.8 billion and the
   purchase of treasury shares of USD 2.8 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-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 7.2 billion as at March 31, 2025, compared
   with USD 13.5 billion as at December 31, 2024. Total non-current and current financial
   debts, including derivatives, amounted to USD 29.5 billion as at March 31, 2025, compared
   with USD 29.6 billion as at December 31, 2024.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">The debt/equity ratio increased to 0.77:1 as at March 31, 2025, compared with 0.67:1
   as at December 31, 2024. The net debt increased to USD 22.3 billion as at March 31,
   2025, compared with USD 16.1 billion 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;">11</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;">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 Q1</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;">Pluvicto</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;"> lutetium (177Lu) <br>  vipivotide tetraxetan<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;"> Metastatic<br>  castration-resistant <br>  prostate cancer, <br>  pre-taxane
            </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;"> US<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;">Vanrafia</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> atrasentan</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> IgA nephropathy</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>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Fabhalta</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> iptacopan</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> C3 glomerulopathy</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> US, EU, China</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>
<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="10px">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td></td>
         <td align="left">
            <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>
         <td align="left">
            <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 colspan="5" height="3"></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"></td>
         <td colspan="5" style="border-bottom: solid #000000 1px;"></td>
         <td height="1"></td>
         <td height="1"></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="5" height="3"></td>
         <td height="1"></td>
         <td height="1"></td>
         <td height="1"></td>
      </tr>
      <tr valign="top">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;">Product</div>
         </td>
         <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>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Japan</div>
         </td>
         <td></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> News update</div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="12" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td width="5.25%" height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">LOU064 <br> (remibrutinib)
            </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;"> Chronic spontaneous urticaria<br>
            </div>
         </td>
         <td align="left" width="1%"></td>
         <td align="left" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Q1 2025<br>
            </div>
         </td>
         <td align="left" width="1%"></td>
         <td align="left" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Q1 2025<br>
            </div>
         </td>
         <td align="left" width="1%"></td>
         <td align="left" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> <br>
            </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;"> &#x2013; US, EU and CN submissions<br>
            </div>
         </td>
         <td align="left" width="1%"></td>
      </tr>
      <tr>
         <td colspan="12" 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;"> 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;"> Approved</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Q1 2025</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Q3 2024</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> &#x2013; EU submission</div>
         </td>
         <td align="left"></td>
      </tr>
      <tr>
         <td colspan="12" 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;">Fabhalta</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> C3G</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Approved</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Approved</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Q3 2024</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> &#x2013; US, EU and China approvals</div>
         </td>
         <td align="left"></td>
      </tr>
      <tr>
         <td colspan="12" 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="left"></td>
         <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>
         </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;"> Q2 2024<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;"> <br>  <br>
            </div>
         </td>
         <td align="left"></td>
      </tr>
      <tr>
         <td colspan="12" 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;">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</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;"> </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Q4 2024</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="12" 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;">Coartem</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <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>
         <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;"> <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>
         </td>
         <td align="left"></td>
      </tr>
      <tr>
         <td colspan="12" 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 pipeline projects</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;">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">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> <br> News update
            </div>
         </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;"><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>
      </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>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>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2025</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;"> 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 PhIII 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>
         </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;">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;"><I>Kesimpta</I></div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Multiple sclerosis <br>  new dosing regimen
            </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;"> 3<br>
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> &#x2013; PhIII trial FILIOS started<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;">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 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>
   </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;">12</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-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">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> <br> News update
            </div>
         </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;"> Myasthenia gravis<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;"> 2027<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;"> IC-MPGN</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;"> 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 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;"> CINDU<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>
            </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;"> Hidradenitis suppurativa<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;"> 3<br>
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> &#x2013; PhIII trials RECHARGE-1 <br>  and -2 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;"> 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">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Myasthenia gravis</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;"><I>Lutathera</I></div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> GEP-NETs</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;"> &#x2013; PhIII trial NETTER-3 started</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;"><sup>177</sup>Lu-NeoB</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Multiple solid tumors</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;"> 1</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;">LXE408</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Visceral leishmaniasis</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; US Orphan Drug designation granted</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;">MAA868<br> (abelacimab)
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Atrial fibrillation<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;"> &#x2013; Anthos Therapeutics acquisition<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;">OAV101</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Spinal muscular atrophy <br>  (IT formulation)
            </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">
            <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;"> &#x2013; PhIII STEER and STRENGTH data <br>  presented at MDA 2025
            </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>Pluvicto</I></div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Metastatic hormone sensitive prostate cancer</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2025</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;"> &#x2013; Event-driven trial</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;"> Oligometastatic prostate cancer</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;">QCZ484</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Hypertension</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; PhII trial started</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;">TQJ230 <br> (pelacarsen)
            </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 <br>  of lipoprotein(a)<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>  <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>
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> &#x2013; FDA Fast Track designation <br>  &#x2013; China Breakthrough Therapy designation <br>  &#x2013; Lp(a)HORIZON PhIII trial design publication <br>  in the American Heart Journal
            </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;">VAY736 <br> (ianalumab)
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Sj&#xf6;gren&#x2019;s syndrome<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>
            </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;"> &#x2013; FDA Fast Track designation<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;"> Lupus nephritis</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 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;"> Systemic lupus erythematosus</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 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;"> Systemic scleroderma</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 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;"> 1L immune thrombocytopenia</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">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2L immune thrombocytopenia</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">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Warm autoimmune hemolytic anemia</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 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>Vijoice</I></div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Lymphatic malformations</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;"> &#x2013; US, EU Orphan Drug designation</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;">YTB323</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Severe refractory lupus nephritis / <br>  Systemic lupus erythematosus
            </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:#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;"> 1L high-risk large B-cell lymphoma</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 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;"> Systemic scleroderma</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 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;"> </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;"> ANCA associated vasculitis</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; PhII 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;">13</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="anchorId00216980"></a><p style="font-family:arial,helvetica,sans-serif; font-size:24pt; color:#000000; font-weight:bold;">Condensed Interim Consolidated Financial&nbsp;Statements</p><a name="anchorId00216983"></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>First 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;"> Q1 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q1 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; font-weight:bold; color:#000000;">Net sales to third parties</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;233</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;829</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;"> 387</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 291</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;227</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -3&nbsp;096</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</div>
         </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;393</div>
         </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;024</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;058</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -2&nbsp;840</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;366</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -2&nbsp;421</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;"> 226</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>
      </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;"> -532</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -639</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</div>
         </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;663</div>
         </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;373</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;"> -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;">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;"> -270</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="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;"> 17</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 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</div>
         </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;407</div>
         </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;129</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;"> -798</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -441</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;"> 3&nbsp;609</div>
         </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;688</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;"> 3&nbsp;606</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&nbsp;688</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;"> 3</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;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;044</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;">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;"> 1.83</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;"> 1.31</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;"> 1&nbsp;979</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2&nbsp;056</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;">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;"> 1.82</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 1.31</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 interim 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;">14</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="anchorId00217460"></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>First 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;"> Q1 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q1 2024</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;"> 3&nbsp;609</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;688</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;"> -60</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="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;"> 720</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1&nbsp;404</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;"> 661</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1&nbsp;367</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 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;"> 436</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 79</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;"> -56</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>
      </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;"> 380</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 104</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;"> 1&nbsp;041</div>
         </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;263</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;"> 4&nbsp;650</div>
         </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;425</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;"> 4&nbsp;646</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&nbsp;427</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;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;"> 4</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 interim 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;">15</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="anchorId00217725"></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;"> Mar 31, <br> 2025<br> (unaudited)
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Dec 31, <br> 2024<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;680</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;458</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;407</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;415</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;965</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 24&nbsp;756</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;"> 27&nbsp;476</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 26&nbsp;915</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;"> 114</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>
      </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;"> 5&nbsp;099</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 4&nbsp;359</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;"> 1&nbsp;981</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2&nbsp;015</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;"> 4&nbsp;111</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 3&nbsp;505</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;"> 74&nbsp;833</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 72&nbsp;542</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;829</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 5&nbsp;723</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;"> 8&nbsp;596</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 7&nbsp;423</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;"> 129</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 133</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;"> 130</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;998</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;"> 7&nbsp;066</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 11&nbsp;459</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;"> 3&nbsp;358</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2&nbsp;968</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;"> 25&nbsp;108</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 29&nbsp;704</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;"> 99&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:#666666;"> 102&nbsp;246</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;"> 766</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 793</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;"> -19</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -53</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;"> 37&nbsp;622</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 43&nbsp;306</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;"> 38&nbsp;369</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 44&nbsp;046</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;"> 83</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 80</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;"> 38&nbsp;452</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 44&nbsp;126</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;666</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 21&nbsp;366</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;561</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;568</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;548</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2&nbsp;419</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;095</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 4&nbsp;075</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;870</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 29&nbsp;428</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;261</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 4&nbsp;572</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;"> 7&nbsp;801</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 8&nbsp;232</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;"> 242</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 235</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;"> 2&nbsp;570</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;599</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;"> 16&nbsp;745</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 14&nbsp;054</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;"> 31&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;"> 28&nbsp;692</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;"> 61&nbsp;489</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 58&nbsp;120</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;"> 99&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:#666666;"> 102&nbsp;246</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 interim 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;">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="anchorId00218398"></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>First 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> Note
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> <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> 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> 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> Total value<br> adjustments
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> Equity<br> attributable to<br> Novartis AG<br> shareholders
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> <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> 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, 2025</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;"> -53</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;561</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;255</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;"> 44&nbsp;046</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;"> 80</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;"> 44&nbsp;126</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;"> 3&nbsp;606</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;"> 3&nbsp;606</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;"> 3&nbsp;609</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;"> 1&nbsp;040</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;040</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;"> 1&nbsp;041</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;"> 3&nbsp;606</div>
         </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;040</div>
         </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;646</div>
         </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</div>
         </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;650</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;818</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;818</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;818</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;"> -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;778</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;792</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;792</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:#000000;"> -27</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;"> -15</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;"> 267</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </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:#000000;"> </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>
      </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;"> -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; color:#000000;"> -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; color:#000000;"> -31</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;"> 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;"> 1</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;"> </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;">   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;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;"> 4.3</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:#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;"> </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;"> </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>
      </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;"> -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;"> 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;"> -10&nbsp;328</div>
         </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;"> -10&nbsp;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;"> -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;"> -10&nbsp;324</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 March 31, 2025</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-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;"> 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:#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;"> 39&nbsp;839</div>
         </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;217</div>
         </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;369</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 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:#000000;"> 38&nbsp;452</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 interim 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> Note
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> <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> 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> 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> Total value<br> adjustments
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Equity<br> attributable to<br> Novartis AG<br> shareholders
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> <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> 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, 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:#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;"> -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:#666666;"> 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:#666666;"> -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:#666666;"> 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:#666666;"> 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:#666666;"> 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:#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;"> 2&nbsp;688</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;"> 2&nbsp;688</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;"> 2&nbsp;688</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;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;261</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;263</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;"> 2&nbsp;688</div>
         </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;261</div>
         </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;427</div>
         </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;"> 1&nbsp;425</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:#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;624</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;624</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;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:#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;"> -1&nbsp;135</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;141</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;141</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;"> -32</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>
         <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;"> </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;"> </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;"> -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;"> -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;">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;"> 4</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 280</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;"> 284</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;"> 284</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;">   </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;">   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;">   10</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;"> 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 1px;height: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;"> -92</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 92</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;"> 4.3</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;"> 66</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;"> 66</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;"> 66</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;"> -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:#666666;"> 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;"> -8&nbsp;503</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 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;"> -8&nbsp;419</div>
         </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;419</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 March 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:#666666;"> 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:#666666;"> -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:#666666;"> 43&nbsp;834</div>
         </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;935</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 39&nbsp;675</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 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;"> 39&nbsp;756</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 interim 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="anchorId00219971"></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>First 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;"> Q1 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q1 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; font-weight:bold; color:#000000;">Net income</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;"> 3&nbsp;609</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;688</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 to 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; 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;712</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2&nbsp;497</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;"> 122</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;">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;"> -232</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;">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;"> -21</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;">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;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -540</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -576</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 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;"> 5&nbsp;650</div>
         </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;597</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;"> -237</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -343</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;"> 6.2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1&nbsp;768</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1&nbsp;989</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</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-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;645</div>
         </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;265</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;"> -254</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -227</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;"> 10</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="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;"> -1&nbsp;240</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -929</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;"> -18</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -47</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;"> 25</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 63</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;"> -3</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="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;"> 6.3</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:#666666;"> -279</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;"> -37</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;">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;"> 1&nbsp;851</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 506</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/(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;"> 330</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -899</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;"> -5&nbsp;333</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -5&nbsp;207</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;"> -2&nbsp;716</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1&nbsp;099</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;"> 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="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;"> -1&nbsp;010</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;"> 556</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;">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;"> -69</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -67</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;"> 23</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 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</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-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;"> -8&nbsp;548</div>
         </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;164</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;"> -4&nbsp;573</div>
         </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;798</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;"> 180</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>
      </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;"> -4&nbsp;393</div>
         </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;924</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;"> 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="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 March 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;"> 7&nbsp;066</div>
         </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;469</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 interim 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="anchorId00220614"></a><p style="font-family:arial,helvetica,sans-serif; font-size:24pt; color:#000000; font-weight:bold;">Notes to the Condensed Interim Consolidated Financial Statements for&nbsp;the&nbsp;three month period ended March 31, 2025 (unaudited)</p><a name="anchorId00220618"></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.
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">These Condensed Interim Consolidated Financial Statements for the three month period
   ended March 31, 2025, were prepared in accordance with International Accounting Standards
   (IAS&#xae;) Standards 34 Interim Financial Reporting and accounting policies set out in
   the 2024 Annual Report published on January 31, 2025.
</div><a name="anchorId00220626"></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, 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 the intangible assets not available
   for use (in-process research and development (IPR&amp;D)) are evaluated for impairment
   annually, or when facts and circumstances warrant. The intangible assets available
   for use (currently marketed products and other intangible assets) are evaluated for
   potential impairment whenever facts and circumstances indicate that their carrying
   value may not be recoverable. The amount of goodwill and other intangible assets other
   than goodwill 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 2025. There were no
   new IFRS Accounting Standards amendments or interpretations that became effective
   in 2025 that had a material impact on the Company&#x2019;s consolidated financial statements.

</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Based on the Company&#x2019;s assessment, other than IFRS 18 Presentation and Disclosure in Financial Statements that will become
   effective on January 1, 2027, which Novartis is currently assessing the impact of
   adopting, there were no other IFRS Accounting Standards, amendments or interpretations not yet
   effective in 2025 that would be expected to have a material impact on the Company&#x2019;s
   consolidated &#xfb01;nancial statements.
</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="anchorId00220652"></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 </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; 2025</font></div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">There were no acquisitions of businesses in the first quarter of 2025.</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 2024 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 2024 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,
</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>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">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 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 2024 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 in the second half of 2024. 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;">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;">There were no acquisitions of businesses in the first quarter of 2025. The following
   table presents the fair value of the assets and liabilities acquired through acquisitions
   of businesses and the total purchase consideration for the year ended December 31,
   2024:
</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;"> Dec 31, <br> 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;">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;"> 20</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;">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;"> 47</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;">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:#666666;"> 1&nbsp;424</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;">Other intangible assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;156</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;">Deferred tax assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 465</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;">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:#666666;"> 31</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;">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:#666666;">   613</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;">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:#666666;"> 242</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;">Deferred tax liabilities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -799</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;">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:#666666;"> -852</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;">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:#666666;"> -47</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;">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:#666666;"> -297</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;">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:#666666;"> 2&nbsp;003</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;">Non-controlling interests</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>
      </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;">Goodwill</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2&nbsp;701</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 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:#666666;">   4&nbsp;629</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;">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 the second half of 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: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="anchorId00220952"></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;"> Equity attributable to   Novartis AG shareholders</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;"> <br> Note
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> <br> 2025
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> <br> 2024
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Q1 2025<br> USD millions
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q1 2024<br> USD millions
            </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;"> 1&nbsp;975.1</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;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:#000000;"> 44&nbsp;046</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;"> 46&nbsp;667</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;"> -24.8</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;"> -10.3</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;"> -2&nbsp;639</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;"> -1&nbsp;033</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;"> -1.5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1.0</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;"> -108</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 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;"> 10.4</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 7.6</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;"> 250</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;"> -31</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="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;818</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -7&nbsp;624</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;"> 3&nbsp;606</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2&nbsp;688</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;"> 1&nbsp;040</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="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;"> 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="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;"> 4.3</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;"> 0.1</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:#666666;"> 76</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 March 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;"> </div>
         </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;959.3</div>
         </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;040.4</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 38&nbsp;369</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 39&nbsp;675</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. In the first quarter of 2025, the annual gross dividend to shareholders of Novartis
   AG amounted to USD 7.8 billion (2024: USD 7.6 billion). The net dividend payment to Novartis AG shareholders
   paid in March 2025 amounted to USD 5.3 billion (2024: USD 5.2 billion paid in March
   2024). The USD 2.5 billion Swiss withholding tax on the gross dividend was paid at
   its due date in April 2025 (2024: USD 2.4 billion 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 July 2023, 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.
</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 March 31, 2025, and
   December 31, 2024, these waiting period conditions were not applicable and as a result,
   there was no requirement to record a liability under this arrangement as of March
   31, 2025, and December 31, 2024.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">4.3. 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>
<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="anchorId00221321"></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 March 31, 2025, and December&nbsp;31, 2024. 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;"> Mar 31, <br> 2025
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Dec 31, <br> 2024
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Mar 31, <br> 2025
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Dec 31, <br> 2024
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Mar 31, <br> 2025
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Dec 31, <br> 2024
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Mar 31, <br> 2025
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Dec 31, <br> 2024
            </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;"> 59</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>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size: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;"> 59</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="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;">   59</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   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:#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;">   59</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   106</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;"> 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;"> 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:#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;"> 120</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 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;"> 23</div>
         </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</div>
         </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;"> 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;"> 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;"> 42</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;"> 135</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 193</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;"> 7</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 572</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 599</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 715</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 799</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;"> 11</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>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size: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;"> 183</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 195</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 194</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 210</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;"> 686</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:#000000;"> 686</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="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;"> 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:#666666;"> 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:#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:#666666;"> 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;"> 1&nbsp;441</div>
         </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;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:#000000;"> 1&nbsp;595</div>
         </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;680</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;"> 103</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 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:#000000;"> 103</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 109</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;"> -339</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -281</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -339</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -281</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;"> -90</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -143</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size: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;"> -90</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -143</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;"> -90</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -143</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -339</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -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:#000000;"> -429</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -424</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;"> -466</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -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:#000000;"> -466</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -527</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;">The fair value of straight bonds amounted to USD 21.9 billion at March 31, 2025 (USD 22.5 billion at December 31, 2024) compared with the carrying amount of USD 23.4 billion
   at March 31, 2025 (USD 24.1 billion at December 31, 2024). 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 1.6 billion at March 31, 2025 (USD 1.7 billion at December 31, 2024) is included in the line&nbsp;&#x201c;Financial assets&#x201d; of the consolidated balance sheets. The carrying amount of current
   contingent consideration liabilities of USD 0.3 billion at March 31, 2025 (USD 0.3
   billion at December 31, 2024) is included in the line &#x201c;Provisions and other current
   liabilities&#x201d; of the consolidated balance sheets. The carrying amount of non-current
   contingent consideration liabilities of USD 0.5 billion at March 31, 2025 (USD 0.5 billion at December 31, 2024) 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;">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>
<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="anchorId00222209"></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 </font></div>
<div style="padding-top:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The following table shows 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;"> Q1 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q1 2024</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;"> 217</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;"> 219</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;"> 63</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;"> 872</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;032</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;"> 41</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 28</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;"> 182</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="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;">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;">   22</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   70</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;"> 262</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 260</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;"> 29</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;"> 798</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 441</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;"> 253</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 1px;height: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;"> -3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -23</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;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;"> 2&nbsp;497</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><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.</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 </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;"> Q1 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q1 2024</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;">Decrease/(increase) in inventories</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;"> 55</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;"> -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;">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;"> -1&nbsp;043</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -920</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;">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;"> -172</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -409</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 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;"> -424</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -272</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 current liabilities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -184</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -260</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;"> -1&nbsp;768</div>
         </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;989</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: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">6.3. Cash flows arising from acquisitions and divestments of businesses, net </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;"> Q1 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q1 2024</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;">Total purchase consideration for acquisitions of businesses</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;"> 0</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;"> -298</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;">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;"> </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;">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;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 47</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 considerations</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size: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;"> 8</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;">Cash flows used 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;"> 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:#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; font-weight:bold; color:#000000;">Cash flows used for divestments of businesses, net<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;"> -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;"> -38</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;">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;"> -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;"> -279</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 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 the first quarter of 2025, USD 4 million (Q1 2024: USD 38 million) represented
               the net cash outflows from divestments in previous 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 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;">24</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="anchorId00222638"></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="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 20 to the Consolidated Financial Statements in our 2024 Annual Report
   and 2024 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. As of April
   28, 2025, there have been no significant developments in those proceedings, as well
   as no new significant proceedings commenced since the date of the 2024 Annual Report
   and 2024 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><a name="anchorId00222644"></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;">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, with a focus on the core therapeutic areas: cardiovascular,
   renal and metabolic; immunology; neuroscience; oncology; and established brands. 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>
<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;">25</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="anchorId00222656"></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 to third parties</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 sales to third parties by region<sup>1</sup></font></div>
<div style="padding-top:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>First 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;"> Q1 2025<br> USD m
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q1 2024<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;"> Q1 2025<br> % of total
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q1 2024<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;"> 5&nbsp;712</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;588</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;"> 24</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;"> 24</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;"> 43</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;"> 39</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;905</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 3&nbsp;764</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;"> 7</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;"> 32</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;772</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2&nbsp;580</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;"> 21</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 22</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;"> 844</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 897</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;"> 6</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;"> 13&nbsp;233</div>
         </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;829</div>
         </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</div>
         </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;"> 9&nbsp;669</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 8&nbsp;488</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;"> 15</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;"> 72</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;"> 3&nbsp;564</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 3&nbsp;341</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;"> 13</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:#666666;"> 28</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 to third parties 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 31.
            </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;">26</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 to third parties 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>First 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;"> Q1 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q1 2024</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<sup style="white-space: nowrap"> 1</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;261</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;879</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;"> 20</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;"> 22</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;"> 257</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 151</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;"> 72</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;518</div>
         </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;030</div>
         </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;"> 26</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;534</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;326</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;"> 18</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;2</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 456</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 399</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;"> 19</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;"> 419</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 356</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;"> 20</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;409</div>
         </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;081</div>
         </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;"> 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="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;"> 899</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 637</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;"> 43</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;"> 327</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 295</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;"> 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;">Aimovig</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:#666666;"> 76</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>
      </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<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; font-weight:bold; color:#000000;"> 1&nbsp;302</div>
         </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;008</div>
         </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;"> 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;"> 956</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 627</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;"> 56</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;"> 552</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>
         <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;"> 19</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;"> 546</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 520</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;"> 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;">Jakavi</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 492</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 478</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;"> 7</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;"> 377</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 395</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;">Pluvicto</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 371</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 310</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;"> 21</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;"> 238</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 136</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:#000000;"> 76</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;"> 193</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 169</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;"> 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;">Piqray/Vijoice</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 100</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 109</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>
      </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;"> 81</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;"> 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<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; font-weight:bold; color:#000000;"> 3&nbsp;906</div>
         </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;224</div>
         </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="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;"> 317</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;"> -11</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;">Lucentis</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 189</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 314</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;"> -38</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;"> 179</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>
         <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</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;"> 150</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:#000000;"> 7</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; 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;"> 124</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>
         <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;"> -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<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;"> 100</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;"> -17</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; 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;"> 343</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 279</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;"> 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;">Other<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;696</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;937</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;"> -8</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<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; font-weight:bold; color:#000000;"> 3&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;"> 3&nbsp;486</div>
         </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;"> -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; 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 to third parties</div>
         </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;233</div>
         </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;829</div>
         </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</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> Constant currencies (cc) is a non-IFRS measure. A definition of non-IFRS measures
               used by Novartis can be found starting on page 31.
            </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> Net sales to third parties 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;3&nbsp;</sup> Reclassified to conform with 2025 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;4&nbsp;</sup> Net sales to third parties 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;">27</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 to third parties of the top 20 brands in 2025<sup>1</sup></font></div>
<div style="padding-top:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>First 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">   2</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">   2</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">   2</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;169  </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;"> 23  </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;092  </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;"> 17  </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;"> 21  </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;261  </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;"> 20  </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;"> 22  </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;"> 815            </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;"> 719            </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;"> 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;534            </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;"> 18            </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;"> 586    </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:#000000;"> 370    </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;"> 24    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 956    </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;"> 56    </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;"> 587  </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;"> 312  </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;"> 45  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 899  </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;"> 43  </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;"> 208          </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;"> 344          </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;"> 23          </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:#000000;"> 16          </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>
      </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;"> 288    </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;"> 258    </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;"> 7    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 546    </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;"> 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;">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;"> 492    </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;"> 7    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 492    </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;"> 7    </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;3</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;"> 456      </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;"> 19      </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 456      </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;"> 19      </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;"> 218    </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:#000000;"> 201    </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;"> 10    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 419    </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;"> 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; 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;"> 197  </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;"> 180  </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;"> -14  </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:#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 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;"> 287    </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;"> 84    </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;"> 205    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 371    </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;"> 21    </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;"> 129  </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;"> 198  </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;"> 7  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 327  </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;"> 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; 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;"> 197  </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;"> 120  </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;"> 9  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 317  </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;"> -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;">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;"> 127    </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:#000000;"> 130    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 69    </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;"> 257    </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;"> 72    </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;"> 154          </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:#000000;"> 84          </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:#000000;"> 77          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 238          </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:#000000;"> 76          </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;"> 139    </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;"> 54    </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;"> 7    </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;"> 14    </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;">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;"> 189      </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;"> -38      </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 189      </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;"> -38      </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;"> -50</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 177</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;"> 0</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>
         <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</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;"> 13</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;"> 137</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</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 150</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;"> 12</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;">   124</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;">   -11</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   124</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;">   -11</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;116</div>
         </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;"> 5&nbsp;721</div>
         </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;837</div>
         </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="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;"> 596</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;800</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;"> -4</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;396</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</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 to third parties</div>
         </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;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:#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;"> 7&nbsp;521</div>
         </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</div>
         </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;"> 13&nbsp;233</div>
         </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</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> Net sales to third parties by location of customer.
            </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> Constant currencies (cc) is a non-IFRS measure. A definition of non-IFRS measures
               used by Novartis can be found starting on page 31.
            </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;3&nbsp;</sup> Net sales to third parties 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;">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;">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;"> Q1 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q1 2024</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;">Profit sharing 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; color:#000000;"> 257</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;"> 214</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;">Royalty income</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;"> 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;">Milestone income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 54</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;">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;"> 68</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 52</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 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;"> 387</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 291</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;"><b></b></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 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.
            </div>
         </td>
      </tr>
   </table>
</div><a name="anchorId00227095"></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:
</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;"> Q1 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q1 2024</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 impairment charges</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;"> -2</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</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;">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;"> -215</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -218</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;">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;"> -65</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -63</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 impairment charges</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;"> -157</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 amortization charge</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -870</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -875</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;">&nbsp;&nbsp;&nbsp;<sup>&nbsp;</sup></div>
         </td>
      </tr>
   </table>
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">In the first quarter of 2025 and 2024, there were no impairment charges on right-of-use
   assets and no reversals of impairment changes on property, plant and equipment, right-of-use
   assets and intangible assets.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">The following table shows the additions to property, plant and equipment, right-of-use
   assets and intangible assets other than goodwill 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;"> Q1 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q1 2024</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;">Additions to 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;"> 210</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;"> 223</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;">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;"> 56</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 28</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;">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;"> 1&nbsp;179</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 663</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" 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;">Financial debt</font></div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">In February 2025, Novartis repaid a 5-year US dollar denominated bond of USD 1.0 billion
   with a coupon of 1.75% at maturity.
</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;">Income taxes</font></div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The Basel-Stadt cantonal tax rate change, enacted March 23, 2025, and effective January
   1, 2026, will increase the cantonal tax rate from 6.5% to 8.5% and the blended Swiss
   cantonal and federal tax rate from 13.04% to 14.53%, impacting the Company&#x2019;s Basel-Stadt-domiciled
   operating subsidiaries. The enactment required revaluation of deferred tax assets
   and liabilities to the new tax rates at the date of enactment. The impact of the deferred
   tax assets and liabilities revaluation recorded in March 2025 was 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;">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><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;">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 the acquisition of an IPR&amp;D intangible asset
   through a purchase agreement that was entered into in the &#xfb01;rst quarter of 2025 that
   closed on April 3, 2025 totaling USD 2.9 billion, of which USD 0.9 billion was paid
   in April 2025 and USD 2.0 billion is due to the selling entities shareholders dependent
   on achievement of specified regulatory and sales milestones.
</div><a name="anchorId00227266"></a><div style="font-family:arial,helvetica,sans-serif; font-size:18pt; color:#000000; font-weight: bold; margin-bottom:20px;margin-top:30px;">11. Events subsequent to the March 31, 2025, consolidated balance sheet date</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 April 2025</font></div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">In the first quarter of 2025, Novartis entered into a purchase agreement to acquire
   an IPR&amp;D intangible asset which closed on April 3, 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;">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><a name="anchorId00227274"></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, we also consider equivalent measures of performance

</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="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">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 36 for additional disclosures related to net debt.</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><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="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>
<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;"> Q1 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q1 2024</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;">IFRS Accounting Standards operating 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;"> 4&nbsp;663</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;"> 3&nbsp;373</div>
         </td>
         <td align="right" width="1%"></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;">Amortization of intangible 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;"> 789</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;"> 807</div>
         </td>
         <td align="right" width="1%"></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;">Impairments</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:#666666;"> </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;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</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 157</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 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;"> 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;"> 157</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;">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>
      </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;- Income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -111</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -112</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;- Expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 103</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>
      </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 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;"> -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:#666666;"> 8</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 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>
      </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;Divestment gains</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size: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;"> -12</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 - 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;"> 41</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 28</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;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>
      </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;- Income</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:#666666;"> -58</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;- Expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 145</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 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>
      </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;- 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>
      </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;- 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;"> 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;Additional income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -61</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -12</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;Additional expense</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;"> 105</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 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;"> 130</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 192</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 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;"> 912</div>
         </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>
      </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;">Core operating 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;"> 5&nbsp;575</div>
         </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;537</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-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;"> 42.1%</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;"> 38.4%</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;">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;"> -29</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;">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;"> 26</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:#000000;"> -270</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="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:#000000;"> 17</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;">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;"> 29</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="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, 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;"> -866</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;">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;"> 4&nbsp;482</div>
         </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;681</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;">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;"> 4&nbsp;479</div>
         </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;681</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;">Core basic EPS (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;"> 2.28</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 1.80</div>
         </td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </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 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> 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;">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=""></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
      </font></div>
<div style="padding-top:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>First 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;"> Q1 2025<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> Q1 2025<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> Q1 2024<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</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;393</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;"> 721</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;"> -32</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;"> 11&nbsp;082</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;802</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</div>
         </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;663</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 789</div>
         </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</div>
         </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;"> 130</div>
         </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;575</div>
         </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;537</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</div>
         </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;407</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 789</div>
         </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</div>
         </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;"> 159</div>
         </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;348</div>
         </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;409</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;"> -798</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:#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;"> 83</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;"> -728</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</div>
         </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;609</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;"> 4&nbsp;482</div>
         </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;681</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 (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;"> 1.83</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;"> 2.28</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 1.80</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</div>
         </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;">Other revenues</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>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;"> -35</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 352</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 291</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;">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;227</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 721</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;"> 3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2&nbsp;503</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -2&nbsp;318</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</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;"> -3&nbsp;058</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;"> 1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -3&nbsp;057</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -2&nbsp;840</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;"> -2&nbsp;366</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;"> 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;"> -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;302</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -2&nbsp;203</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;"> 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;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -111</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;"> 79</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 55</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;"> -532</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;"> 103</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 202</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -227</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -277</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</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;"> 17</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;"> 29</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:#666666;"> 96</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
               currently marketed products intangible assets; research and development includes the
               amortization of scientific infrastructure and technologies intangible assets
            </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
            </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 income and other expense include transitional service-fee income and expenses
               related to the Sandoz distribution
            </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: other revenues includes a milestone income from an outlicensing agreement;
               cost of goods sold, selling, general and administration, other income and other expense
               include restructuring income and charges related to the company-wide rationalization
               of manufacturing sites and other net restructuring charges and related items; research
               and development includes contingent consideration adjustments; other income and other
               expense include fair value adjustments on financial assets and other costs and items;
               other financial income and expense includes the impact of IAS Standards 29 &#x201c;Financial
               Reporting in Hyperinflationary Economies&#x201d; 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 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 941 million to arrive at the core results
               before tax amounts to USD 68 million. The average tax rate on the total adjustments
               was 7.2% since the estimated full year core tax charge of 16.2% has been applied to
               the pre-tax income of the period.
            </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;">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=""></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>First 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;"> Q1 2025</div>
         </td>
         <td></td>
         <td align="center" colspan="5" height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q1 2024</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; color:#000000;">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; color:#000000;"> 3&nbsp;645</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;"> 3&nbsp;645</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;"> 2&nbsp;265</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;"> 2&nbsp;265</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;">Net cash flows from/(used in) investing activities<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;"> 330</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;"> -254</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -899</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 672</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -227</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;">Net cash flows used in financing activities<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;"> -8&nbsp;548</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 8&nbsp;548</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:#666666;"> -5&nbsp;164</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 5&nbsp;164</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>
      </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</div>
         </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;"> 3&nbsp;391</div>
         </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; 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;"> 2&nbsp;038</div>
         </td>
         <td align="right"></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
               from/(used in) in investing activities 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 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: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>First 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;"> Q1 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q1 2024</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</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;"> 4&nbsp;663</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;"> 3&nbsp;373</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;195</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;342</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;"> 182</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="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;"> 281</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 307</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 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;"> 6&nbsp;321</div>
         </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;185</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</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 122</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;">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;"> -253</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -176</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;"> -540</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -576</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;"> -237</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -343</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;160</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1&nbsp;457</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;"> -608</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -532</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</div>
         </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;645</div>
         </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;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;">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;"> -254</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -227</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</div>
         </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;391</div>
         </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;038</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-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: 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>First 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;"> Q1 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q1 2024</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;"> -4&nbsp;393</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;"> -3&nbsp;924</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;">     -1&nbsp;737</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">     -1&nbsp;729</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;"> -6&nbsp;130</div>
         </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;653</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;"> -16&nbsp;141</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -10&nbsp;183</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 March 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;"> -22&nbsp;271</div>
         </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;836</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;"> Mar 31, <br> 2025
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Dec 31, <br> 2024
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Mar 31, <br> 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;">Non-current financial debts</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;"> -21&nbsp;666</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:#666666;"> -21&nbsp;366</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:#666666;"> -17&nbsp;191</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;">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;"> -7&nbsp;801</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -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;"> -8&nbsp;339</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 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;467</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -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;"> -25&nbsp;530</div>
         </td>
         <td align="right">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </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; 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>
         <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;color:#00ff00;"></div>
         </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; 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;"> 7&nbsp;066</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 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;"> 9&nbsp;469</div>
         </td>
         <td align="right">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </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; 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;"> 130</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 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;"> 225</div>
         </td>
         <td align="right">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></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 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;"> 7&nbsp;196</div>
         </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;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;"> 9&nbsp;694</div>
         </td>
         <td align="right">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </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;">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;"> -22&nbsp;271</div>
         </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;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;"> -15&nbsp;836</div>
         </td>
         <td align="right">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </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>
   </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;"> Mar 31, <br> 2025
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Mar 31, <br> 2024
            </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;959&nbsp;253&nbsp;908</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;040&nbsp;406&nbsp;387</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;"> 97.84</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 87.37</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;">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;"> 111.48</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 96.73</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;"> 218.0</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 196.8</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;"> 191.7</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 178.3</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom">
         <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;">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: 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="anchorId00229561"></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> Q1 2025
            </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> Q1 2024
            </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> Mar 31, <br> 2025
            </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> Mar 31, <br> 2024
            </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;">1 CHF</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;"> 1.112</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;"> 1.144</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;"> 1.137</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;"> 1.104</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;">1 CNY</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0.137</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 0.139</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0.138</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>
      </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;">1 EUR</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1.052</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1.086</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1.084</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1.080</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;">1 GBP</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1.259</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1.268</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1.297</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1.262</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;">100 JPY</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0.656</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 0.674</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0.671</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 0.660</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;">100 RUB</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1.074</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1.101</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1.177</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1.086</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: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>First 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> Q1 2025
            </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> Q1 2025
            </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> Q1 2025
            </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 to third parties</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;"> 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;"> -3</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</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;"> 44</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</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;"> 37</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;">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; 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;"> 42</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 operating income</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;"> 27</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 net income</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;"> 26</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)</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;"> 31</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-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><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;anticipate,&#x201d; &#x201c;can,&#x201d; &#x201c;will,&#x201d; &#x201c;continue,&#x201d; &#x201c;ongoing,&#x201d; &#x201c;growth,&#x201d; &#x201c;launch,&#x201d;
   &#x201c;expect,&#x201d; &#x201c;expand,&#x201d; &#x201c;deliver,&#x201d; &#x201c;accelerate,&#x201d; &#x201c;deliver,&#x201d; &#x201c;guidance,&#x201d; &#x201c;outlook,&#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 that the 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 macroeconomic and geo- and socio-political developments, including
   the impact of any potential tariffs on our products or the impact of 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;">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><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 <font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#0070f7; font-weight:bold;">https://www.novartis.com</font> and connect with us on <font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#0070f7; font-weight:bold;">LinkedIn</font>, <font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#0070f7; font-weight:bold;">Facebook</font>, <font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#0070f7; font-weight:bold;">X</font> and <font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#0070f7; font-weight:bold;">Instagram</font>.
</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 <font style="text-decoration:underline;">https://www.novartis.com/investors/event-calendar</font>.
</div>
<div style="padding-bottom:15px;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
   Interim Financial&nbsp;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&nbsp;<font style="text-decoration:underline;">https://www.novartis.com/investors/event-calendar</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;"> </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;">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="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">
   <div style="float:left; width: 150px;">November 19-20, 2025 </div>
   <div style="">Meet Novartis Management 2025 (London, UK)</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;">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>




</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>letterheadpr.jpg
<DESCRIPTION>IMAGE
<TEXT>
begin 644 letterheadpr.jpg
M_]C_X0A;17AI9@  34T *@    @ " $2  ,    !  $   $:  4    !
M;@$;  4    !    =@$H  ,    !  (   $Q  (    ?    ?@$R  (    4
M    G0$[  (    )    L8=I  0    !    O    .@ "OR    G$  *_(
M "<0061O8F4@4&AO=&]S:&]P(#(T+C<@*%=I;F1O=W,I #(P,C0Z,#0Z,C @
M,#8Z-3 Z,C$ 3D55345"23(      Z !  ,    !__\  * "  0    !   !
ME* #  0    !    9@         & 0,  P    $ !@   1H !0    $   $V
M 1L !0    $   $^ 2@  P    $  @   @$ !     $   %& @( !     $
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M #A"24T$!       71P!6@ #&R5'' (   (  !P"4  (3D55345"23(< @4
M/$UI8W)O<V]F="!7;W)D("T@,C R-"!1,5]0<F5S<R!296QE87-E7S$Y($%P
M<B Q4$T@*# P,BDN9&]C>  X0DE-!"4      !#CM#6P@AAV0&>&-\KCI2^4
M.$))300Z      #Q    $     $       MP<FEN=$]U='!U=     4
M4'-T4V)O;VP!     $EN=&5E;G5M     $EN=&4     0VQR;0    ]P<FEN
M=%-I>'1E96Y":71B;V]L      MP<FEN=&5R3F%M951%6%0    !       /
M<')I;G10<F]O9E-E='5P3V)J8P   !( 4 !R &\ ;P!F "T 10!I &X <P!T
M &4 ; !L '4 ;@!G       *<')O;V93971U<     $     0FQT;F5N=6T
M   ,8G5I;'1I;E!R;V]F    "7!R;V]F0TU92P X0DE-!#L      BT    0
M     0      $G!R:6YT3W5T<'5T3W!T:6]N<P   !<     0W!T;F)O;VP
M     $-L8G)B;V]L      !29W--8F]O;       0W)N0V)O;VP      $-N
M=$-B;V]L      !,8FQS8F]O;       3F=T=F)O;VP      $5M;$1B;V]L
M      !);G1R8F]O;       0F-K9T]B:F,    !        4D="0P    ,
M    4F0@(&1O=6) ;^            !'<FX@9&]U8D!OX            $)L
M("!D;W5B0&_@            0G)D5%5N=$8C4FQT                0FQD
M(%5N=$8C4FQT                4G-L=%5N=$8C4'AL0%(            *
M=F5C=&]R1&%T86)O;VP!     %!G4'-E;G5M     %!G4',     4&=00P
M  !,969T56YT1B-2;'0               !4;W @56YT1B-2;'0
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M       $    'CA"24T#\P      "0           0 X0DE-)Q        H
M 0         ".$))30/U      !( "]F9@ ! &QF9@ &       ! "]F9@ !
M *&9F@ &       ! #(    ! %H    &       ! #4    ! "T    &
M   !.$))30/X      !P  #_____________________________ ^@
M_____________________________P/H     /______________________
M______\#Z     #_____________________________ ^@  #A"24T$"
M    $     $   )    "0      X0DE-!$0      !     "   "0    D
M    .$))300>       $     #A"24T$&@     #>0    8
M &8   &4    (@ R #  ,@ T "  40 Q %\ 4 !R &4 <P!S "  4@!E &P
M90!A ', 90!? #$ .0 @ $$ < !R "  ,0!0 $T +0 Q     0
M               !              &4    9@                     !
M                         !     !        ;G5L;     (    &8F]U
M;F1S3V)J8P    $       !28W0Q    !     !4;W @;&]N9P
M3&5F=&QO;F<          $)T;VUL;VYG    9@    !29VAT;&]N9P   90
M   &<VQI8V5S5FQ,<P    %/8FIC     0      !7-L:6-E    $@    =S
M;&EC94E$;&]N9P         '9W)O=7!)1&QO;F<         !F]R:6=I;F5N
M=6T    ,15-L:6-E3W)I9VEN    #6%U=&]'96YE<F%T960     5'EP965N
M=6T    *15-L:6-E5'EP90    !);6<@    !F)O=6YD<T]B:F,    !
M    4F-T,0    0     5&]P(&QO;F<          $QE9G1L;VYG
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M;&5F=$]U='-E=&QO;F<         #&)O='1O;4]U='-E=&QO;F<
M"W)I9VAT3W5T<V5T;&]N9P      .$))300H       ,     C_P
M.$))3001       ! 0 X0DE-!!0       0    ".$))300,      <I
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MTW7C\T:4I(6TE<34Y/2EM<75Y?569G:&EJ:VQM;F]B<W1U=G=X>7I[?'_]H
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M+0S'QJV4T5C;756T-:T>#6-]K41?*J2K:WXLS__9 #A"24T$(0      5P
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M @4! 0 " 04! 0             #! <"!08("0$*$  ! P0" @(!! $$ P
M   "  $#$04&!P0(,"$@"1(00"(*,4$3%!<5-181  $# @0#!04%!P($!P
M  $" P01!0 A,09!40=A<1(3"#"!D;$B\*'!,A00(-'A0B,50/%28D,7,U,D
M1"46"1(  0,# @,$! @*!P<%     1$" P A!#$%01(&46$B$Q P<8$@D:$R
M0E(4!T"Q8G*"LB.S)!71,V.39'06P9)#4X,T9?"BPB4F_]H # ,! 0(1 Q$
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M&U.&E2+6O,6,-W?Z _*_HZ>BG5?KZ9BX3^?OP     <\V).9_47Z(Y_\@
M CIU<6?43O-PW=!O2+^%QS>,BG'>M#>I7R:T5J<=:45ZT=Z^BU..U2/(I16K
M0WJQY%2&]6&]&&E6+,T5M_OH)U$Y8_6_H5[#R#:_!P/Y5XCT*NV^'N+?GG''
MT   !E:-7U/N@_8?FVQCRD     #2/@_/.'?H%Z*; >I';G\[7)>K%>G':G%
M:OHM5CO3CO3BO5AM5CR*L5ZD-Z4-:D-:\6Y_LU@KE7]9>AFY+LMA[R #^5KT
M]4+L!CSH[]I\2[6M^VSS]   ^]YOJEE[NQ=8\I^0      >#1['F0>-SI=W*
MV)=0.UFDN*LB6JZ;5(\BG%>K%>K%:I':K!DTX:TH?>.5\4WC=QNN'(#Z#]2M
MQ_9+#_Z^@  !HON5;I@]E\6]/GLAC+2W<*H'CXW5[!N?? ZFY?[26",@?H
M      $M'W1+%>2MM& <TZ!X-RYIWCCEOKW%][_=73[#NFS:B<UX?K;F?&&X
MOL/AW7K/>*_Z%ZN     !H#N]/@BRKQ#C7YSL7LL&OE8Q]R/G(Q;RSWZI,
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M/V[T3G5B)F1&Z<T[U3NB*B(JHCHB*J<T1M1R=TY,G>K.:)TY*S9G<;4]IO\
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MV@BX/LIN/O//EXEAS*!(P=JIXTL/%XDMS:)Y^UY39 -6Z/;^<P^(=QT/ G\
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MTJUKK2$VI5K6C=*[Z1SJ1:CW?IW=9<7.;Q8XHYO%KFD\KFGB'-(XZWJ#:?O
MQF;?ED #*C5V.]VA,C$,D).J@R1#B6"MMVGHC%_F$^4.9CHBUT0B4+,Z0$M$
M305<^X&@YC3\;$D^T]0Y+6G)R2BN(OY<5E9 TDH%+GGQ/)\+6^MFR)2D,;'/
M<>QK6ESC[@"?=6?GO^?/,^0^U[BX_*?596S[UA,R-NF:CF.'O!!U:YI0M<"'
M-(!!!K)WC8(I<WI(*XO0.E@OI*&ZL TE# U$Y^4JJ.H@:43Q]!O5O0M&@E=]
M7UH]]"]+PI!176M;4@JVM#MH\U-VWI; +-IC>T9.;*",;'!/%UO,E(^;"PF1
MVJ-:KVG9?N[D<_SPQV7)D?M#ER-4\SV@@1-4GE9!R!H(7F<.8QXNY3-V_>"@
MY)' 1O/]G*0&^P/Y7)8!R$FWK<V""0#/SOX=@X\KA^U</9&H]KAZQS'M!800
M0;@@V((X@C45E[]]WP9B[P?$[$)#8)3Q\MW_  7G@"L1-OV8O4^U;]MLV)N$
M?SHY6EK@NA' @_1<"0X7!(HTG"K:T52DI%"T>VEXT43Y:-'3Y:("5XBE+9**
M4+CY:X5XJCQ<.!TN2]W*UC6ESG.)0-:T*7.)*!H!).@K$ZG^]X3;3TXX!S,)
MIY<Z<6_K01_"1D<"?M!TY8DYCMW3/2VTPX6QXK V**,(UHXD\7/<5<][B7O<
M2YQ))/IQ\)\C<[9V$#RIKN8T:"&6[F)P!YF#ZM-;MF>(]PY0702HR4'CRA4D
M&MXRZVJ:5;3U3I)' ,:"23H  I)]@"T]^++S;)B<T>.BHX+XY4/UW"W8QK0;
MJ3ZW^7=4[/'/R@B.4>&:);DQ2M1S;@$A2QQ YFNK+W'HN7^;[&WQ"-0W+8WL
M+"C)N718W![M1$#:I\/.Q9(,N)Y8]CP6N8\:M<UP!:X<00"E]*'B^6C_ $T;
M_+2@T@-S1!/RT;TB_+1YG)[ZM5S1"W]M.O\ +14V]M% X@>W^BL/<8-K_E'2
MLP!&;F*QKFGC#!_7S*"K'<C(7"_FA0#A[GMVW_S#K-L:/W#)'-("X$/^SQWC
MQFE2U6ATI9X7RO4FK?!CFA>63-<"UP*$$7!!%P1P(N*9@]6QOSL&P$S>43Q@
M?6%FS!.WE?92]RI7V_8]RCG@%G %',/8]CD<TI< BXN-"GPT 4UD=(],99,?
M,YN3.PV<$0PQGBTF[W@ .NP*U5_ ',ZIZ:Q\C)1!,!Y<[?S9X^60#\GF+>T5
M/F?=UU+')CDJ,;,!:]H2X9D1-+77T#XF6L7K<SR]4=(YF/A,UG#/-Q_[^(OC
M%E/B<TCB :1;URF@2:5:*%*/;5S2 T:OJE.Q.BND=PW.8%"8(7O8U?KR((X_
M:]S0ER4K'RNN=[PMBP"[Q1M3,RD3ZD;VP-)T"SO(^DQ;5AYFW=+,W#?X@#]K
MSDR9><?3C8X>1"5N#%$UPL.8HM  6'J69^SY\N/F-/SF.(7N<-'-[6N5I%D2
MH=OZUB+9509,;? AT\V-JD)Q=&"+DE@U$6X;7FQSX3]'L*@_T'N-QQ -J0CT
MW-?:]]W%D$1T!*O=W,C"O<?8TCM(J7:^FP_#V4V<]4GE'>04C8?JM\7UG:C\
M$+)&JPZC@>X]H[JE?OG0.WOFD*N?&PX\CCVNDQS$]Q[>9Q7CI4C]AW?==LF)
M) $C)XAV#DDCYT'8)??4AV/[P=OG"V$\,T%N\Q_:/Q>\:4XXTNSY)6W)E/;;
M_JP1CY?BI(^F,65J_0S<7_Y2M-(.D<8#OSL-/DF--$T&SXZ\9,Q0/[N.0_$'
M>PTT[WUWLN*PZ^2W)R'#W/CQP?\ >'NILO5_6NY;D\(>2!D6''["HR9"#VA[
M34<NW_=QAY&2TKSYA?F%1H>3(?)$".UL8O?6H\+:L"'&PV!&QQ,;&QH[&L8
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MQ94XXHE2B22?V$'0@@]QRQN/?UHV_)].O7Z]KN%R?ZJ=*85NC6G<NX)E7?\
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6<_#[Z:X%*=G\L9T]],#3LT^[_6__V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>logorm.jpg
<DESCRIPTION>IMAGE
<TEXT>
begin 644 logorm.jpg
M_]C_X0E'17AI9@  34T *@    @ !P$2  ,    !  $   $:  4    !
M8@$;  4    !    :@$H  ,    !  (   $Q  (    ?    <@$R  (    4
M    D8=I  0    !    J    -0 "OR    G$  *_(   "<0061O8F4@4&AO
M=&]S:&]P(#(T+C<@*%=I;F1O=W,I #(P,C0Z,#0Z,C @,#8Z-#<Z-3
M  .@ 0 #     ?__  "@ @ $     0   8^@ P $     0   ",
M!@$#  ,    !  8   $:  4    !   !(@$;  4    !   !*@$H  ,    !
M  (   (!  0    !   !,@("  0    !   (#0        !(     0   $@
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MN(VD+:3M.$))300Z      #Q    $     $       MP<FEN=$]U='!U=
M  4     4'-T4V)O;VP!     $EN=&5E;G5M     $EN=&4     0VQR;0
M  ]P<FEN=%-I>'1E96Y":71B;V]L      MP<FEN=&5R3F%M951%6%0    !
M       /<')I;G10<F]O9E-E='5P3V)J8P   !( 4 !R &\ ;P!F "T 10!I
M &X <P!T &4 ; !L '4 ;@!G       *<')O;V93971U<     $     0FQT
M;F5N=6T    ,8G5I;'1I;E!R;V]F    "7!R;V]F0TU92P X0DE-!#L
M BT    0     0      $G!R:6YT3W5T<'5T3W!T:6]N<P   !<     0W!T
M;F)O;VP      $-L8G)B;V]L      !29W--8F]O;       0W)N0V)O;VP
M     $-N=$-B;V]L      !,8FQS8F]O;       3F=T=F)O;VP      $5M
M;$1B;V]L      !);G1R8F]O;       0F-K9T]B:F,    !        4D="
M0P    ,     4F0@(&1O=6) ;^            !'<FX@9&]U8D!OX
M     $)L("!D;W5B0&_@            0G)D5%5N=$8C4FQT
M    0FQD(%5N=$8C4FQT                4G-L=%5N=$8C4'AL0%(
M       *=F5C=&]R1&%T86)O;VP!     %!G4'-E;G5M     %!G4',
M4&=00P    !,969T56YT1B-2;'0               !4;W @56YT1B-2;'0
M              !38VP@56YT1B-0<F- 60           !!C<F]P5VAE;E!R
M:6YT:6YG8F]O;      .8W)O<%)E8W1";W1T;VUL;VYG          QC<F]P
M4F5C=$QE9G1L;VYG          UC<F]P4F5C=%)I9VAT;&]N9P         +
M8W)O<%)E8W14;W!L;VYG       X0DE- ^T      !  2     $  @!(
M 0 ".$))300F       .             #^    X0DE-! T       0   !:
M.$))3009       $    'CA"24T#\P      "0           0 X0DE-)Q
M      H  0         ".$))30/U      !( "]F9@ ! &QF9@ &       !
M "]F9@ ! *&9F@ &       ! #(    ! %H    &       ! #4    ! "T
M   &       !.$))30/X      !P  #_____________________________
M ^@     _____________________________P/H     /______________
M______________\#Z     #_____________________________ ^@  #A"
M24T$"       $     $   )    "0      X0DE-!$0      !     "   "
M0    D      .$))300>       $     #A"24T$&@     #70    8
M         ",   &/    % !. &\ =@!A '( = !I ', ( !2 $T ( !, &\
M9P!O "  4@!' $(    !                          $
M 8\    C                      $                         $
M  $       !N=6QL     @    9B;W5N9'-/8FIC     0       %)C=#$
M   $     %1O<"!L;VYG          !,969T;&]N9P          0G1O;6QO
M;F<    C     %)G:'1L;VYG   !CP    9S;&EC97-6;$QS     4]B:F,
M   !       %<VQI8V4    2    !W-L:6-E241L;VYG          =G<F]U
M<$E$;&]N9P         &;W)I9VEN96YU;0    Q%4VQI8V5/<FEG:6X    -
M875T;T=E;F5R871E9     !4>7!E96YU;0    I%4VQI8V54>7!E     $EM
M9R     &8F]U;F1S3V)J8P    $       !28W0Q    !     !4;W @;&]N
M9P          3&5F=&QO;F<          $)T;VUL;VYG    (P    !29VAT
M;&]N9P   8\    #=7)L5$585     $       !N=6QL5$585     $
M  !-<V=E5$585     $       9A;'1486=415A4     0      #F-E;&Q4
M97AT27-(5$U,8F]O; $    (8V5L;%1E>'1415A4     0      "6AO<GI!
M;&EG;F5N=6T    /15-L:6-E2&]R>D%L:6=N    !V1E9F%U;'0    )=F5R
M=$%L:6=N96YU;0    ]%4VQI8V5697)T06QI9VX    '9&5F875L=     MB
M9T-O;&]R5'EP965N=6T    115-L:6-E0D=#;VQO<E1Y<&4     3F]N90
M  ET;W!/=71S971L;VYG          IL969T3W5T<V5T;&]N9P         ,
M8F]T=&]M3W5T<V5T;&]N9P         +<FEG:'1/=71S971L;VYG       X
M0DE-!"@       P    "/_         X0DE-!!$       $! #A"24T$%
M    !     (X0DE-! P     ""D    !    H     X   '@   :0   " T
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M(0      5P    $!    #P!! &0 ;P!B &4 ( !0 &@ ;P!T &\ <P!H &\
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M$0'_Q #=  $  @,! 0$             !P@%"0H&! ,!  (" P$! 0
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M]#G6H3G$    "$6!?S^MLR?R.N $8=?D8'9UIM7V
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M8NSR\PQSS"5Q++'3,%DC@AF4A%!!/>T5KUSL:^6).;+J7&N9Z?9R.'5Y$J"
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MU8U>'&5Q@CY:M ;+%9",BK%13M)>K4]P85ZQIY\99X$D5FC8LJR*""49D97
M8>TE&5@#56!H>L+AN7P/5?@&*2T$:OF Q/1P'5QDWEAY'/O9@:FX$=;O19^@
MQ=EH-B8C-#,9$8-#?XWBEB=6C<7FIHU10=N]<V;@?#H=;N9XFC.5+/)ES1HW
MUA '6..-C3ZY1VIVK]#.[$N34D]R2?4D_.3UQG\PQOVR=<Z_.<W]YE_V&?A8
M;Q/KLJSS0S11S1.8R3&Q256 ="S6NMK@$BZA(,$NQF4K#&(XD1$BBBC!+61Q
M1JL:+<S,;5%S,SL2S$GY?Q#4Y(CR#&\;55)$>.1;7CDCD5HY(W4T9'5E/T5
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M*,1?P?%TTT$CW+59I'!"A*W$4'U@".]*]<\UNWU<9VNRY*\V%%Y/=(^1D0&
MQ-$3;/17,8>B!E^V'BNKM,7D'&MIB<QV6"LQGRIL2=9(,8K$(T.$$ACM+J2H
MC!8FKFMM>$C%@#:[%V9R,ABRBB)BY"1BTFK732)V4&E*F@'6\3)R0_!H<B3(
MUV/4$1RY:6SDCU40+?%"/2V:1_K$GKB?'<G%C&^T>Z&9'#Y[%R(DEED\8GB:
ML3L)FL<,"A7U6H8<R@'%\C4;/9:UL7SY.8<N9[E< -;D9*B&,VD'R!V#,+$
M[_"/1S\57'7C^SP7R)3D8[+)%BJ8O)CA)"Y4QU=UD6*0,55(W%S+\9&R0L&J
MWNNQ<?'F#*QNCQ7B<L@-X"N_<$"]0:&E.N.\6WG%3 <#%6!\E9X'@=8([(WB
M5',[-):MRR11!:L;B0%/%N*R:V/\:Q=VF3(GECM$(RY9R;KK6-C#V@U[TIVZ
MY)N)8A'H<SC)P!,&4L)7F+&B5O[(U02 "5I7TZ'!MUPUY-K!!-'#F-L7;!62
MR18<F/'\[2HZWC[/[HJ]V]P5B.MAP/+Q,'=_#O*),FLV,;38X):XO R/'-CO
M=[U,4BJLOVMGD]W1RH/A?+#WKXAM)V@_11H#/;^G(+?]7S])Q768N+J>***?
M=<1617%:_:R.SRR$GNU6 <]W#'O\FHSOXLSL),&59H8X4QBJSJ'43$RPR,S6
M2,MK,8Z>B5))QX9LAIID10TC!0SL  7(0*@+'N0JJH)HH H.N5[O3@QC;M"\
MD0 "))%Y;G2GIY3+<R^@8$CLU!AMM%EAVF*UV/E0-X\B!@004>A[7 &U@0"+
MA1J,#J]C\2\AL%EM9X<2"'*9/0CSU=58CMY$A5QZ@@]^L;2:#!7'U\52 *DL
MQ^L[L:L[M\[,23V'H !N.-[$D8F9"4+  E#ZHZ@]BT;A76O:JBO6KXSKG+X^
M,A%[ !G9F+N[ =JLS$T[T%!Z#J3F$G-]C/L)(UB=7CQ+&@5RZP +C@QH&8FL
M91R>Y8GOU/I#O,C"P9T=)A"D#&6-UM*$S126CYZQV-7];J34:[E.=D:BQ_'#
M,L!6)W:XR(RPJ]:EC86,9+$E*]^LOFV/SW:?Q%D*%FD*89$B?9U1D^[6!2(D
M'M52+10@]^M%MYL_)P=YKI+H<C'*+*!6X*2ZL"%<7+V]I+4[.P+:N3D>3+L;
M&49;1X_F!)-K6+$("4% *Q$&E6#&I.=RG YQM#M,R0-DEDQ&6<7WLK@X]%#&
MO>.QEK[2.W63!!DM#.\;*LBA6:-B" ZJZLA*GW .K*2*,I%1UF\RQ.>;7\?R
M@%GD9,,B5*H2C(<:P*?&@]BJ106D'K2;W W^5K=_KQ*(9H1&ZE9K/(DL4J,L
MB&P4%5H:GOVIA0\\YC-LM-!*L@Q8H(\2&1U^J9RC222**_5#HM>]/6JHB@(!
M0 =@ /0 ?,!UR;\OR/V+]<&_)\+]VC_V&!FYB2IL<6_PS0RR0RH) !(H>)E)
M1PHN1KD) )6H!$\6NA8--(9)7=WEEED("WR2R,TCM:JJ+F-JJJ* J@#Y?P_;
M8QDQQ(DBT9XW22-KHY(Y(V62.1&%5=&5A]-">I]C")I=E)&(S-/-+/)XP;A&
MK2LUD=WN*):K-[F!;O\ [CY-^7Y'[%^N#?D^%^[1_P I_]H " $! 08_ ,IX
M^7F/A%J)O-<0_(%HCR/&E@K=]3DW40%?LZ"[YVRF(6RNR-DV+ENDT6;NG )*
M)JI@*Q,T#VW["SGI>JA^']D'Y$XZ2!A<_=XE\I+.A^/Z5A_6/V@PD[%!1SX0
M3,#)]+Q[1V)5?[HP-G#A-804_P!D>WQ_1UW'X '23&,M%=D7R_GZ#-C-1KMT
MMZ29UE/2;MW*BRGIHIF.;L ]BE$1^ #TJX<*IH(()G6776.5)%%%(HG4554.
M)2)IID*(F,(@  '<>B4^L[MC5BMJJWMDZO!:?29>Q*./+Q] D)'SCB3.MY?#
MQ!+R[_HZ5>R+QJP9-P R[MZX2:M42F,4A3*N%SD23 QS  "(AW$0#I)C'6FN
M/WJXF!!FRFXQTZ6$A#*'!)N@Z454$J9!,/8![  C]P=(#-343#@Y%0&PRDBS
MCP<"EX"J" NUD05%(%"^7CW\?(._WATD^C'K218K^?H/&+E%VU6])0Z*GI.&
MYU$5/363,0W81[&*(#\0'J=@H6RP$Q-U=5HA9H>+F8Z0E:ZN_*X,Q1G8]HY6
M=Q"KTK144BN")BH"1_'OXCV,HH8I$R%,<YSF I"$* F,8QC" %*4 [B(_  Z
M$BU_I*1P\>Y5;5!)F#R[>/<IGX"'EW#M^OOTB]CW;9\S<$]1N[9KI.6RZ8B(
M =%=$YTE2"(?>41#HC:9L$'$N5$@73;R<LP8+J(&.=,JQ$G3A)0R1E$S% P!
MV$2B'W@/7_6M2_\ (X?_ (SIQ*LIF*>1;0%S.I)K(LW#!L#9(%G(N'B2QVZ(
M-T1 Y_(P>!1[CV#HJ:=RJAU#F*0A"6*(,<YS"!2E*4KP3&,8P]@ /B(].'SY
MRW9LF:"KEV[=K)MVK5L@0RJ[APX6,1)!!%,HF.<P@4I0$1'MT6M5#=L:M5C.
MX]H2 K>GTF<FS.O+P]L6*C)QT^,X\_AX GY=_AV^SD'_  /UC]PI_KAU_2OQ
M[_E)4?[35E:^<ZV=\:YUJX:OT1$[=.%Q2>/+N9D1(/I+)6?57:;=!4/B=FX0
M[]P)UB&B)-A]O'<#;E.JJ@3X?,X70+-1'+@3]OO^7:2S2_6 =OU]NHS,+\RD
M:?(V?L:DV-\+=S4+64ZY6Y&;:704*M&3*:ZA4U6SM!$A%#D JJ@*I&/UQ=BZ
M] 4NI;?K/): R%IKRU>;?/SPSO']CL$77K),,$DY>2K!;#6F)A(H9<S,A3'0
M)W$Q#VG@;RX*\KG+GCF#NME+:%BC*:?2J\!&P/#/%#G3G+36F(I"X73.I\XB
M5&\FF=P!G:Q.>4K2\2RNIR&;P/%=7.W%=HE:AC4);1,ST0+VM2R1\<@E5E;>
M1("2)F)4#.TQ,103$.8HZ%Q)L$D__P G/#BNJSNEY\P?.F,7N^NLY&&B4H31
M/8K-UI>FURQ2BY21*QCLG!X)4RQ% = 5*1RBVXEGD)%'C%&57GZ53JY4[5GS
M\B(DC)JD34+&,W,([BEP(H5$@BT<%)Z3A)5 QTS<J/I6<UPB]UDL!5FFU?DM
M#CV]K0O&:UBVL:O*1%A;V$K_ .?149(OH:2A%7GN'9&K_P #' K1 "[[QELV
M>TY5CHT%*7_BI;INO1DA.TYJNRDKBRK]"G)-NK(PC<]%EI^%?KME$U7:L 5(
MWF4P]^)O%*<I-5M%TW+<VJR<_+0,8_LV>8AEZ4?HV^6&GV!RV6D*J^GX>"BH
M!11NHB#H98B9Q,($*-[M];I]7H6689G]HL\11ZC%1]9@06:D?2[:!B(V,;MV
M3>2MUI>@GY 3S<R#X5%!,HH8PU"A;_/O'P?4;Q2O:);9&1)[5NRWNU?,[B\B
M7IRCX.)>!TI.=@6Y.WGZ4\W.</Q^8N&3UN@[9NT%FKMHZ13<-G39PF9)=NX0
M5*=)9!9(XE.0P"4Q1$! 0'KFEAUAPC*Y7':SA"%BK69.:7!_DBN3CJ.XTNEI
M2 KJ;0D9#/!7L\@)3MDTA(#Q4"]@.(=<6L<X1/)6L47>X%%WR%X[0%BF9RB1
MD<X<V-%[<7-;>OY%*NNFM;CQEVW84S-!CQ,EX-79TE+=R%Y#4ND:]$'QG.\B
MS>E6R&^;LZHG7+5?K;;9]T@]*9DK(S3ZU-46AT@\FZ*"X"(^OV+]27++SA6;
M6K.<RG'R&?4N:K3%[7J>BG?7,>1*!CE2"BP(5D4$@ @!^ .W7)++82'JLAAF
MU[%9M'K^8KPZ;V!KU8ON;4.I73/)2&DD%X=_6'4U6WYF[,"':A&/"-SD'Q,
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KM#(B#E9C&E:-G3LI7"Y%5R@H'^HN0?\  _6/W"G^N'7]*_'O^4E1_M/_V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>coverifr.jpg
<DESCRIPTION>IMAGE
<TEXT>
begin 644 coverifr.jpg
M_]C_X  02D9)1@ ! 0( )0 E  #_VP!#  ," @(" @," @(# P,#! 8$! 0$
M! @&!@4&"0@*"@D("0D*# \,"@L."PD)#1$-#@\0$!$0"@P2$Q(0$P\0$!#_
MVP!# 0,# P0#! @$! @0"PD+$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0
M$! 0$! 0$! 0$! 0$! 0$! 0$! 0$!#_P  1" 5/ \$# 1$  A$! Q$!_\0
M'@ !  (" P$! 0            $"!P@%!@D$ PK_Q !M$  ! P," P0$!0T)
M"@<,"04  0(#! 41!@<($B$)$S%!%")1814R<8&T%B,S-SA"4F)R=H*1L31#
M<W1UDJ&RLQ<8)#538Y6BP=(9-E16T=/P)29$1E=EDY:CM<3A.4559'>#PM3Q
M*&:&E,/_Q  = 0$  @,! 0$!             0($!08#!P@)_\0 2Q$!  $#
M @(%" <&!0,#! $%  $" P0%$2$Q!A)!47$3%"(R88&1H0<5,S2QP=$C0E)R
MX? U8H*BLA9#PC:#DB13TO%S%R5$5.+_V@ , P$  A$#$0 _ /5,
M
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M2"*!)6592BY*S"%TZ]" 3V%$3"0AMV?T(?GP
M
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MD.;W%4;-O#^A#\]@
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MBDH2G1<$"2)A$PE%\BDJK(N"!8#;L_H*_/0
M
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MH
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M7IU*B1)(BX*2HME"NPV^/Z"OST
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M+DI*)"!9%\B)5E9%\BDPA*>P@21*)"JK< _H&_/0
M
M      ZSN92MK-OM10.3.;;4.3IGJUBN3]AI>D=J+VD9-$_P5?*-V[Z-W?(Z
MOC5?YZ?G.S2_.>OM/S9+])<@H+HN2JH0+(N2LB2LJRLBY*R@*JSP61?(J2DK
M*$M7R*RB5BDH2B^1 DB81,)1<%)A58K(%))$7!51< 456*@4D71<E94"DBR+
MD"2LJRLBY*3" A$K(OD5E"2LP):OD5F%96*H2B^1425E$I1<%9A58K(E%P5%
MB))$7!5$=RQ1"0A9%\T*JK>*% 1<@21LC9N ?T!?G@
M
M        </K+_BC>_P"3:G^R<:[5_P##[_\ )5_QEL=(_P 0L?ST_P#*&C\:
M^JWY$/S%')^GJN<K"852BX*22L55$7 D7*($Z%55BLB2LJ^Q9.I4"J%D7)68
M5E)219%R *S"LPLB^124)*S %)1*6KY$*K$3")A*+Y%)0DK,"47!242L5E41
M<%1<B4<Q.A558H)$J\EDZE0*"R+DK*DI*R+(N2L@55F%D4K*$E9@2B^1 L5E
M$I1?(K)S250E%P1,(F%T7!6853X+DJ) W /Z /SN
M
M      .!UY.VFT3?YW8PRV52]5Q^].-7K=<6],R*Y[**O^,MKH=$W-3QZ([:
MZ/\ E#21J8:B>Q,'YGVV?IJKGNNBY(5"LP+(OD4E$I(0EJ^1$BQ285F$HOD0
MA)5$PE%P4F$<UBLPA*+@K)*Q651%P5%B$)*JK% *R!25961<A"2LJRLBY*2!
M68%D7R*2K*2LPA+5\B$+%9@F$HOD5F%4E42E%P1*%BLB47!5$K%51%P4D6*S
M DA58H@*BR+D"2DPCDLBY*RB0@61<D2K*Z=4P4E".7WD#<(_H _.X
M
M                   Z5O-6>@[8ZAERF7TG<)GVR.:S_P#4<YTNN^1T7(GO
MIV^,Q'YNEZ'VO+:WC4]U6_PB9_)IYGJ?GB7Z*[#P4HJL0)*BR=2JH0+(N2LB
M2LJRLBY*S" JKR612I*2LH2B^1681,+%)0E%\B!)$HE*+@I,*K%9@"DHD1<%
M55Q)(BX*2JL5$E$+>)14*BR+D"2DJRLBY*R@(1/!9%R5E"2LB47R*RK,+%4)
M1?(J)*2B4HI$JK%9@2BX*BQ$DB+@K*/8L40E.@0LB^955;F0KL-P3]_OSN
M
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ME4)1?(B42L0JW#/WZ_.X
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M%1%P5D6*R)3H0HL4 J+)U DI*.2R+DK*)"!.5&R-FXI^^WYU
M
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M$7!24<UBJ #<8_?;\Z
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M])5#<8_?;\Z
M                                   ( U-W]UM]56M'VRDFYJ"Q\U+'
MA>CYL_77_K1&_H+[3XATUU;ZQU";-N?0M>C'MG]Z?R]S[[T$T;ZKTV+]R/VE
MW:J?93^['PX^_P!C&B+DXV7;!65)71<E0*3"O)9%\RJW-/O*S"LK(N2$!619
M%R4F%9A) LB^1$B2DPK,):OD0A)1$I1?(K*.:Q64)1<%9@F%BLJB+@J+$2B4
MHN"JJQ20*@4563J$)*RK*R+DI, 5D61<E)5E)680LB^1"$E9A$PEJ^164)*H
MF$HOD1*%BLB47!5$K%%1%P5D6*S!*47!"BQ0"HL0)*HY)YO<1L;-QS]\OSF
M
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MLPDK*$HOD5$E$2LB^1$PJDI,"44@6(F"8"JK<@_?#\Z
M
M      ?'=KK06.VU-WNE4RGI*2-TLLCUZ-:G_;HGFN$/#)R+6):JOWIVIIC>
M99&+BW<V]3CV*>M75.T0TNW$US7;@:FGOM4CHX$^M4<"K]A@1>B+^,OBY?:O
ML1#X'KFK7-9RZLFOA'*F.Z/UGG/M?I+H_HEK0<*G%M\:N=4]]7;[HY1[/&76
MD7R--,-U,+%90EJ^14245F%D7R*H25F%9A9%\BDIA/B5E$PEJ^1"$E9@2B^1
M681,+%4)1<$2+%91(BX*JK%9)2BX*RK'<L5E 5%BBJ2HLBY %)A25D7)61)2
M0*RK*R+Y$(25F$3"47R*S"$E)$HOD5F$3"Q254HN"!8B43Q$7!255BI*47!$
MPJL5 JA8K*J2LP+(N2LP!565D7)64)*2+(N0) W(/WJ_.0
M
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MR ;DG[U?G(
M                              *O>UC5>]R-:U,JJKA$0B9B(WE,1-4[
M0UIWPWNCO[)='Z.JE6W9Y:VMC54])]L;%_R?M7[[P3IX_*^E72F,R)P<*?0_
M>JC][V1[.^>WPY_:>A?0R<"8U'4:?VG[M,_N_P":?\W='[O.>/+")\_E].2B
MX**+$2"+@K)*Y541<%!8K*)2BX*RJL5F$3"47!281$K(53(G12JJQ$B47!62
M5BBH!8JA)159%R1(%95Y+(N2A*2J%D7)685F$E9$HOD0)*S"LPLU?(K*$E)@
M"LHE*+@JJL1,$P(N"LJK%)$HN"LHE8I*HG0J+$"2JJR+DJ@(5Y+HN2H%9%D7
M)659A)64)1?(H)*JRLU?(B4)*3 $#<L_>K\Y
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MJK%24HN")56*R"+@KLA;*>TKLKLDK,"V4*S 9*[*[;+HN2LP@(V&Y9^\WYR
M
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M
M              C('2=8[R: T4DD5RO<=16L3]QT>)IL^Q43HS])4-)J'2'
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MD@             ].#Z&_$@
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M:R                   >G!]#?B0
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M9&\]DK-PWXJ(GR#;N5GCS6*2C9*="J%@@*"R=2JJ2LH61<E9 JK*R+DJ)*S
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MYD@                     'IP?0WXD
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M)
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MKV^K'N[??\&YQ]+MT>E=]*?E_5P_O]IU$1$1M#9Q$1&T 2
M            !Z<'T-^)
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M.<]RO>Y7.<N555RJK\IV-%%-NF**(VB.R&WIIIHCJTQM""RP
M                !Z<'T-^)
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MJ(_5^)EO<                               /3@^AOQ(
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M-VL3:[D[55]W9'ZS[9X=T-OC:?%'I7N,]W9_5Q)T[:
M                >G!]#?B0
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M.C6_(A]$P=.L:=;ZEF/&>V?'].3?6,:C'C:GGWOP,YD
M                  /3@^AOQ(
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M?#]76WO?(]TDCE<YRY5RKE54[RW;HLT1;MQM$<HANZ**;=/5IC:$%UP
M                              #TX/H;\2
M                                 :P\6^OWR55#MU;ZCZW$C:^XHU?%
MR_88U^1,O5/>Q3D^D69O,8M,^V?RC\_@^W?15H44T7-8O1QG>BCP_>F/^/\
M\FMYRLP^RKHN2H%5961<E)0DK,"44I(DA65D7R(F$)*2)1?(K,(F%BDH2BX*
MS DJB82BX(E58K(%))$7!51<K)S"%5O$J!17DNBY" K(LBY*2K*2)A"47)42
M51*R+Y%)0DK(E%\BLJS"Q5"47R(D24E65D7)"$E9%D7)285F$D3 X&ZWQ7YI
MJ%^&^#I4\_<W_I_4=;I&@<LC+CPI_.?T^/<V.+A=?T[O+N_5PIUS; 2
M                                /3@^AOQ(
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M],Y4A\%=YO\ _E^T[31]$C&VOY$>GV1W?U_#Q;/$P^KZ=V./9'ZN+.C;,
M                                    'IP?0WXD
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M>!<0HO5?PU_Z#LM'TF,6(OWH].>4=W]?P;/$Q>K^TKCCV0XXW[8
M                                 /3@^AOQ(
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M.[V^/=W-AB8V_P"TK]WZN+.D;,
M         ].#Z&_$@
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MK/6JY1\W#'6ML                                           ,+[
M/3@^AOQ(
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M[X;<3_EB_K4^^?\ 0^E?POR%_P#U4Z0?_<?T&'S]K0
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M48UN+5'*/[W;FU;BU3U84/9Z
M       &*>)74?P'MC54,<G+->9XZ%N/'DSSR?-RLQ^D=KT"P//-8IN3'"W$
MU>_E'SG?W/EGTOZO]6]&J[-,^E>JBB/#UJOE&WO:<\[C[WL_(&[^E0^).W
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MIY^SV?WVMIC6?)QUJN<OF-DR@
M        !JOQ9:C]-U7:],Q29CM=(L\J)_E9E\%^1C&_SC[1]&N#Y+"NYE4<
M:ZMH\*?ZS/P?EWZ<M7\YU2QIM,\+5/6G^:N?RIB/BP2?2'PY_2L?$G<
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M9?@_I;JWUYK>5G[[Q77.W\L<*?\ ;$.MFU<Z_I6/B3N
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MURYRY5?:IVENBFU3%%$<(;>BB**8IA!98
M                 =/W<U)]2FW-]N[).29*5U/ N>O>R_6VJGR<V?F-[T9P
M/K+5K%B8X=;>?"GC/X;.1Z=ZM]2='<K+B=JNK--/\U7HQ\-]_<T1\.B>1^DW
MX: /Z5CXD[@
M    &M'&5IESZ33^L88^D,DEMJ'>YZ<\?]+7I^D<[KUG>*+L>'YOM/T0ZE$7
M,C3JIYQ%<>[T:OE,?!J\BX.9?<96*S"J4Z$"Q4 JLBY*2A)619%R5F%9"LBR
M+DJ)*RK,+(OD5E"2DP):OD5D251,)1?(B856*R)1<%)@F%BLJB+@I(L51*47
M 56* 5 HHLG4K(DA59%R5F *RKR<-<*GTB?#5RR/HWWKYJ=5IF)YO:ZU7K5?
MAV0S\6UU:>O/.?P?,;)E@
M     !KYQ;ZC[BTV32D,GK5<[ZZ9$_ C3D9GW*Y[E_1/J'T9X'7OWLZJ/5B*
M8\9XS\HCXO@/TZZOY/$QM+HGC75-=7A3&U/QF9^#60^P/S4 ?TK'Q)W
M                                                 .F[O:.^KO;N
M]:>CC1U3)3K-2=.J5$?KQ_K<W'R*IB9UCSFQ5;[>SQCDZ/HGJ_U'K%C,F?1B
M=JOY:N%7RG?W//GKYM5J^:+XHOL4X28?KCP2U?(JK*2B$HOD1(L0B82BX(F%
M5BD@BX*DK%952BX*R+%90%55DZE9$E)%D7)60(5E9%R5E"2LP+(N2DPB825E
M"47R*3 DA65D7R(F$)*2!642E%P556*$\1%P)5?-<:GN8>1BX?)T3W)YJ9VF
MXOG%W>KU:>/Z0]+5ORE>W8X@ZIM
M             @#2OB%U']46Z5T2.3G@M:,MT77..[3U_P#VCGGZ#Z$8'F.B
MVMXXU[US[^7^V(?C+Z5=7^MND]_JSO3:VMQ_I];_ '34QL=:^<@']*Q\2=P
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M]OBV-BWY.GCSE^9E/8
M   ./U#>*?3UBN%]JE3NK?2RU+L^?(U5Q\ZHB?.96%BU9V3;QJ.=<Q'QG9K]
M5SZ-*P;V==]6W355/NC?YO/>LJYZ^KGKJIZOGJ9'32N7S>Y555_6JGZCM6Z;
M-%-NCE$1$>$<(?@+(OUY5ZN_=G>JJ9F9]LSO+\2[Q /Z5CXD[@
M                                            #%_$+MLNX>@YEH(.
M>\6?FK:''C)A/KD7Z;4Z?C(TUNJ8GG5B>KZT<8_1W'0'I%]0:K3Y6=K5WT:_
M9_#5_IGG[)EHMX]3BWZC2BX*HE8K*J47! L5 A58JA)461<E9A60K(LBY*B2
MJLK(N2LPA)21*+Y%)@20B5D7R(F%4E9@2B^1242L5F$"+@I(L51*47 E58H!
M0"JCY;E/RQ)"U>LGC^3_ -O]ILM+Q_*7?*3RI_'^^+ULT=>OCRAQAT;8@
M                                           Q%Q/:C^!MMGVJ*3$U
MZJHZ7">/=M^N/7Y/5:GZ1W/T?8/G6KQ>JCA:IFKWSPC\9GW/DWTR:O\ 5_1V
M<6F?2OU13[H]*?PB/>T^/N[\B@ #^E8^).X
M                               :7<3.U:Z)U4NJ+33\MFOTKI.5C<-I
MJKXSV>Y'=7M_33R0Y'5\+S>[Y6CU:OE+])?1OTG^N<#S'(G]M9B(]M5'*)\8
M]6?=/:PP:>7TE*+Y%95F$E$)1?(B18A$I1<$3"JQ28!%P5)6*RJE%P5F!8K,
M(/ JJL5$E!9%R5 A65D7)64)*R+(N2DPK,)*S E%\BDB2%9A9J^1$H24F ^5
M2LQNB>]PU1-W\SI?)>C?D\CJL2QYO:BCM[?%G6*.I1QYR_,R7L
M                                    #4_BMU'\(ZVH=.Q29CL]&CGI
MGPFF7F7_ %$C_6?;/HWP?(:=7ES'&Y5P\*>'X[ORM]-^K>=ZS:T^F>%FCC_-
M7QG_ &Q2PB?1'Q4  ?TK'Q)W
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M?_;WF9I]CRM[K3RIX_HO;IZ]<0XPZ-L
M                  5>YC&J^1R-:U,N55Z(GFI,1,\(5JJBF)JGE#0#7.H7
M:KUC>-1.<JMKZR26//E'G#$^9B-0_3VCX,:;@6<2/W*8B?'M^>[\%=)=5G6]
M7R=0GE<KF8_EWVICW4[0X(V+1@ #^E8^).X
M                                ,$\46U'U5:?36]DI%?=[+$OI#&)Z
MU32)E7)CS<SJY/=S)[#2ZQA>6M^6HCTJ?G']'U+Z,^E/U7E_5F55^RNSPW_=
MK[/=5RGV[3WM/.BIE%RBG)\WZ)2BX*HE8K*J47!$BQ4$Z$*+%1)461<E95"L
MBZ+DJ!565D7)24)*S E%\BDB2%9A9J^1$H24F!*+Y%9A$PL4E"47!61)5$I1
M<$2JXJLE[VH<J+EK?53YO'^DZ'3[/DK,3/.>/Z,O'IVIZW>_$S60
M                                      #H^].I%TOMG?;A')RSS4_H
M<'M[R9>1%3Y$5R_,=%T4P/K'6+%J8X1/6GPIX_CM'O<5](>K_4W1O*OTSM55
M3U*?&OT>'A$S/N:,_(?HY^(0   _I6/B3N
M                               "%1')A4RB@Y-'N(?:I=N=7K76N!6V
M*].?/283U8)<YD@]V,\S?Q5Q]ZIQNJ87FMWK4^K5R_1^G^@'2C_J'3_)7Y_;
MVMHJ_P T=E7OY5>WCVL4FKEWB47R*RK,)*(6:OD1(DA$I1?(B55BDP"+@J3"
MQ654HN"LBQ681(BX*JKE0*"WB5 A5=%R5E 4D61<E95E)28$HN2LP*5$O<PN
MD3QQA/E4];%KRUR*$=7K3M':X@Z=L(B(C:$A(
M                       -=>+C4?)36+244G61\EQG;GR;];C_ *5D_4?5
M?HSP-Z[^=5'+:B/?QG\GYZ^G;5^K;Q=*HGG,W*O=Z-/XU?!K6?6WYQ   #^E
M8^).X
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MJ_UOTFR:Z9WIMSY./]'"?]W6ECXZAP    ?TK'Q)W
M                                         :\\5>U'PS:TW'L5+FNM
MD?)<F,3K-2IX28\W1^?XBK^"AH=9PO*4^<41QCGX?T_!]>^B_I3YG?\ J;*J
M]"Y.]$SV5]WA5_RV[Y:FG+R^^B+@JB86*RJE%P1(L5)$7!"BY60*BQ685"LP
M+HN2H%%)61<E9$E9$HN2DP)(5E9%\B)A"2DB47R*S")A8I*'$RR=[*^3\)>G
MR>1T>/;\E:II9=FGJT0J>SU
M         !Q6J[[#IC35TU#.J<MNI):C"^;FM56I\[L)\YFZ=AU:AEVL6G]^
MJ(^,\?DU6N:E1H^FW\^OE;HJJ\9B.$>^=H>?4\\U3-)4U#U?+*Y9'N7Q5RKE
M5_6JGZAHHIMTQ13RCA'@_ MV[7>N57*YWF9WF?;/-^99Y@  !_2L?$G<
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M>M/5[W&>'1#H&>D
M  ,-<4NH_@G;V*R128EO56R)4]L4?UQ_^LD:?.=]]'>#YSJLY$QPM4S/OJX1
M\MWQ[Z:=7\QT"G"IGTK]<1_II]*?GU8][48^Y/R:    #^E8^).X
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MWN7]B?[3/T^C>9K]STM1O5OW/E-HR@
M                 -2.*?4?PIK^"Q129BLM&UCDSX32^N[_ %>[3YC[C]'6
M!YMI=635'&Y5/PIX1\]WY/\ IKU?SW7J<&F?1L41'^JKTI^7588._?'
M?TK'Q)W
M         &M'%AM3WT*;H6.F3O(6MAN[&)U='X,G^5O1KOQ>5?O5.>UK"WCS
MFCW_ *OM/T6]*.I5]1Y57"=YMS[><T>_G'MWCM:O'-3#[DE%*HE)55*+@B18
MJB1%P1*JY4$Z%!8B50K(NG4J!125D7)68$E9%D7)20(5F%D7R(E#CZE_/.]?
M9ZJ?-_V4W&)1U+4>WBR+,>COWOS,E[
M                 I-+%!$^>=Z,CC:KWN7P1J)E5_46IIJKF*:><J7+E-JB
M;E<[1'&?"'GWJZ_2ZHU1==0RJN;A5RU"(ODUSEY4^9N$^8_4&F8=.G8=K%I_
M<IB/?$<?F_ NO:G5K.IW\^K_ +E=57A$SPCW1M#B#.:D    ']*Q\2=P
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MX(F2=M^$*3P<9E5ZKXKU4WU,=6-H9E,=6F(22L
M                        #H&^VHUTSM?>JF.3DGK8DM\/DO-,O*N/D9SK
M\QT_0_!^L-9LT3'"F>M/A3Q_'9P?TEZO]3]&<FY3.U5<>3CQKX3\*=Y]S2#Y
M#]$OQ0     !_2L?$G<
M                      .@[T[8TVZ&C9K4Q&,NE(JU-MF=TY)D3XJK^"]/
M57Y47R0P<_$C,M33VQR\?ZNKZ'=)*^C.I4WYXVJO1KCOI[X]M/./?':T)J::
MIHJF6CK*>2"HIY'12Q2)AT;VKAS53R5%14.)JB:9VGF_5MNY1>HBY;G>F8B8
MF.4Q/&)CQ?FG0\UEBLJI(%DZE0"JR+DI*$E9%D7)685D*BR+Y%1)659A*+Y%
M9A"Q21*+Y%9@?G5.Y8'?C>K^L]<:GK78-MYB'Q&Y98
M                             &MO%SJ/,EBTE$_HU)+C.W/M^MQ_LD/K
M7T9X&T7\ZJ.ZB/QG\GYS^G;5]ZL72J9[[E7_ !I_\FN9]6?G@     #^E8^)
M.X
M      -6.*_:E:.J3<^QT^(*A60W>-C?B2=&QS_([HQWOY5\U.:UK"ZL^<T>
M_P#5]U^BWI1Y:CZCRI]*G>;<]\<YI]W./9O'9#6XYZ7V9*+Y%43"2JJ47!$P
M+%42E%P1*JQ601<%!8B8525F!8K(%%%D7)61)28'X5CO58WVJJ_J_P#Y,O"I
M].96MQO7#YC9,D
M#Y AHWO;J/ZI]SKY6QR<T%-/Z#![.2%.3I\KD<OSGZ-Z)8'U?H]FW,>E,=:?
M&KC^&T/Q+](VK_7/27*O4SO335U*?"CT?G,3/O=%.C<.     !_2L?$G<
M
M 'R76UT%[MM5:+K2LJ:.LB=!/$],M>QR85%^8K713<IFBJ-XE[XN3=PKU&18
MJZM=,Q,3'9,<F@&Z>WE?MGK&KTW5<\E-GOZ"H=^_TRJO*N?PDPK7>]%\E0X;
M,Q:L2[-N>79X/UGT8U^UTDTZC-HX5<JX_AJCG'A/./9/LEU$PY="LBY*S"LA
M5"R*1(DA64HOD5F$+%9$HOD51,)*H2BX*R+%91,)1<%956*2/DJES*B?@M_:
M;##IVHF?:]+7.9?D9;W
M     !PFM=0,TKI*[ZB>J(M!1R3,SYR8PQ/G<K4-AI.%.I9UK$C]^J(]W;\M
MVEZ1ZI&B:3D:A/\ VZ*ICQV]&/?.T//Y[WR/=)*Y7/<JN<Y5ZJJ^*_K/T_$1
M3&T<GX(KJFNJ:JIWF5250     /Z5CXD[@
M                                       8SWZVLCW,T<]M#$WX;M:.
MJ;<_P5ZX]>%5]CT1$]SD:OD:_4L/SNUP]:.7Z>]VO0;I//1O48F[/[&YM%<=
MW=5XT_.-X:*/8^-[HY8W,>QRM<UR8<UR+A45/)47I@XJ8VX2_4L3%4153.\2
MA%P4%BLJI(%BH!59%R40DK(LBY*RK(5D61<E1)65961?(K,(?%,N9GK[%Q_0
M;/'C:W#VM1P5/9Z@
M  PGQ5ZC^#-#4>GXI,2WFL3G;GQAA3G=_KK&?0_HXP?.-2KRICA;I^=7"/EN
M^+_3;J_F>B6\"F>-ZOC_ "T<9_W=5J:?;7Y4       ?TK'Q)W
M                                                         :C\
M5.U*V&\?W1K+3XH+K*C+BQJ=(:I?"3W-DQU_'3\8Y;6<+R=?G%'*>?C_ %_%
M^@/HPZ4>?8_U/DS^TMQO1/?1W>-/9_E_E:_FBF'UM*+Y%59A)5"44K(L0B82
MBX(E58I((N"I*Q654IT*S L5E GB55?$J\SG.]KE7^DVMN-J(AD6_5@+K@
M                                            U XH-1_#&X_P1%)F
M&R4L=/A/#O7_ %QZ_P"LQ/T3[K]'N#YKI/EZHXW:IGW1Z,?A,^]^2/IFU?S_
M *0^:4SZ-BF*?]4^E/XQ'N8@.[?(P      ']*Q\2=P
M                                                 '':AL-KU19*
MW3]ZIDJ**OA=!-&OFU?-/8J+A47R5$4\[MNF]1-NN.$LS SK^F9-&7C5;5T3
MO$_WV=DQVP\^]PM#73;K5E;I:ZY>M.[GIY\82H@=GDD3Y43"IY.1R>1PV5CU
M8MV;57_[CO?K;0-;L=(,"C.L<-^$Q_#5'.GW=G?$Q+KABRW*R+DK*LA5"R+D
MK,"0K,+(OD5E"2LP):OD51*2J$HOD4D6SCJ1,(E\+?BIGV&VY/>GA3"0L
M                                          'Y553!14TU95/1D,$;
MI9'+X(QJ*JK^I%+V[=5VN+='.9VCQGA#QOWJ,:U5>N3M33$S,^R.,O/C4EZG
MU'J"Y7^I5>\N-5+4JB^7.Y51/F3"?,?J/ Q*<#%MXM'*BF(^$;/P'K&H5ZMJ
M%[.N<[E557QG?;W<G&F4UP      #^E8^).X
M                                           !B3B*VH3</2:W.TTW
M/?K*UTU(C4]:HB\9(/?E$RW\9$]JFKU3"\ZM=:F/2IY>WV/H'T?=*?J#4/(9
M%6UB[M%7=3/95[N4^SPAI%_VZG&OTV(N"J)6*RJE.A L5 A59.I5"2HLBY*S
M"LA60>OUMR^QJ^>/(BF-ZHA6KD^1/!#:,I(
M                     QQQ ZC^IS:V[+')R3W)&VZ+KC/>KZ__ +-'G5]"
ML'S[6K6\<*-ZY_T\O]VSYW]*6K_5/1C(ZL[57=K<?ZO6_P!L5-*#]"OQ@
M     ?TK'Q)W
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MYL^G75^OD8NE43ZL375XSZ-/PB*OBUZ/J3\_@       ']*Q\2=P
M
M!P^KM+6K6FG*_3%ZA[RDKX5C<J?&8[Q:]OL<UR(Y%]J'E?LTY%N;=?*6QTG4
M[^C9EO.QIVJHG?Q[XGV3'"?8\^=9Z2NVA=35^EKTQ$J:&3EYVIALT:]62-_%
M<W"^[JGBAPN18JQ[DVZ^</UOH^JX^MX5O/QI]&N.7;$]M,^V)X?/M<*8\PV:
MR+DK,*2%19%R5D2%9A9%R5F$)*2)1?(B43"L_6%R9QT)M>O"NV_!^!GLD
M                                          'N3S"&BF\.I/JJW)OM
MUCDYX&U2TL"^7=1?6VJGR\JK\Y^D>B^!]7:18LS'';K3XU<9_'9^'NGVK_77
M2+*R8G>F*NK3X4>C&WCMO[W3#?N.        /Z5CXD[@
M                                                     !A3B:VH
M76NF4U59*7GO=CC<Y6L3UJFE\7Q^]S?C-_23[XT^KX7G%ORM$>E3\X?2_HWZ
M4_4V;YADU;6;L^ZFOE$^$\JO=/8TQ145,HN47JAR+]()1<%42L5E5*+@B18J
M!"BQ425%:A<PJOO3]J%[4?M(4GA\OQ?B9C)
M                    #KVX6HTTEHF]:AYN5]'1R.B]\JIRQI_/<TVFB8/U
MEJ-G$[*JHW\(XS\HES_2K5OJ/1<G/WVFBB=OYIX4_P"Z8:!JJJN7+E?-?:I^
MG/!^#9F9G>4!        !_2L?$G<
M                                      (\0-)^)#:GZ@-5_#MHIU98
M[Y(Z2)&IZM-4>+XO<B]7-]W,GWIQ^K87FUWKT>K5\I[GZ8^CSI1]>X'FN1/[
M>U$1/?53RBKQCE5[=I[6(#4S#Z&E%\BLJS"2B%D7R(F!)")A**1*JQ28'YS?
M8G?-^U"UKUX15^GXOS,Q[@
M      !@OBPU'Z#I"VZ:B?B2ZU??2(B^,4*9Z_IN9_-/H_T;8/EL^YEU1PMT
M[1XU?TB?B^(?3CJ_FVDV=.IGC=JWG^6C_P#ZFGX-53[2_+8         _I6/
MB3N
M              #KVOM%VK<#2E?I:[)B*KC^MRHW+H)4ZLD;[VKA?>F4\SPR
M<>G)M3;J[6WT+6;^@Y]O/Q^=,\8[)B><3[)C]>QY]:ET[==)7^NTW>X.ZK;?
M,L,J)\5WFCF^UKD5'(OL5#A;UJJQ7-NOG#];Z=J%C5<2WFXL[T5QO'YQ/MB>
M$^V'&GC+-61<E94"HLBY*R)"LK(N2LPA655;&YR)X(3;CTX1,[<7Y&6]P
M                                        ! &G7$QJ/X;W,GM\<G-#
M9:>.B;CP[Q4YY%^7+T3]$^]= ,#S31Z;LQQN3-7NY1\HW][\@_3#J_UETDJQ
MZ9]&S3%'O]:KYSM[F)SMGRH         ?TK'Q)W
M                                                    P'Q3;4+J
M2QIKZQTO-<[/$J5C&-]:HI$ZJO3Q='U<GXJN3R0TFL87E:/+T1QCG[8_H^K?
M1ETI^KLKZIRJOV=V?1F?W:_TJY>.WM:AG*2_0HBX*HE8K*J47!$BQ4D3H0H2
MK]:<J+CIXBCUH1/"'Y&6]P
M     !\]PKJ>UT%3<JM_+!20OGE=[&,:KE_H0];-FO(N4V;?.J8B/&9V8^7D
MV\/'KR;L[4T1-4^$1O+SVO=UJ+[>*Z]U:YFKZB2IDZ_?/<KO]I^I,3&HP[%&
M/;Y41$1[HV?@'4LVYJ69=S+OK7*JJI\:IW?$>["         ']*Q\2=P
M
M        *O:U[58]J.:Y,*BIE%0)B9IG>&C&_P#M6[;76#I;;3JVQ7=73T"I
M\6%WB^#]%5RW\54]BG%ZGA^:7=Z?5GE^C]1= ^D\=(].BF]/[>WM%?MCLJ]_
M;_FCVPQ@:R8=PE%\BLJRDJA9J^1$B2$3 [JQR>Y1'.)4GD_%/ RGND
M                                     !C'B,U']3^UUPACDY9[L^.W
M1]?)Z\TG^HUR?.=AT%P?/=9MU3'"W$US[N$?.8?-/I9U;ZKZ,WJ*9VJO3%N/
M?QJ_VQ,>]I>?H!^-P          _I6/B3N
M                                                ZIN=H"W;DZ/K
M=,UZI')(G>TE1C*T]0WXC_D\E3S:JIYF-EXU.7:FW5[O9+?=&]=O='=1HSK7
M&(X51_%3/./SCNF(EY_7BT7&P76KLEWIG4];0S.@GB7[U[5Z_*GFB^:*B^9P
MMRW5:JFBN.,/UIB9=G.L496/5UJ*XB8GV3_?'NG@^,\Y9"R=2LPJ%1=%R5D
MK,/Q;\5/D,I>GE"0L
M:O<6NI/2;]9M*PR990T[JR9$_P I*O*U%]Z-8J_I'V/Z-,#R>->S:HXU3%,>
M%/&?G/R?F7Z=-7\MG8VET3PMTS7/C5.T;^$4_-@(^FO@P          ?TK'Q
M)W
M                 -<^*W:A;E0IN98Z;-501I'=6,3K)3I\6;WJSP7\5?Q3
M0:UA=>GSBCG'/P[_ '?@^Q?1=TH\WN_4N55Z-<[VY[JNVGPJ[/\ -_,U3.8E
M]Y2BX*HF$E54HN")%BH_%.F4]BJG])DQQA-'JI)6
M                      /'I[0AH9NIJ3ZK-PK[?&OYXI:MT4"YZ=S'];9_
MJM1?G/TMT<P/JW2K&-/.*8F?&>,_.7X6Z;:O]>:_E9L3O3-<Q3_+3Z-/RC=U
M0W3E@          _I6/B3N
M                                     ?G400U4$E-4Q,EBE:K'L>F6
MN:J85%3S14(F(F-I6HKJM5171.TQQB8[):&;W;83;8:REH*>)_P/7\U1;)%Z
MHD>?6B5?PF*N/>U6KYG$ZAASAW>K'JSR_3W/U7T+Z2T])=-B[7/[:CT:X]O9
M5X5<_'>.QCXU\NN2BY*RK,)*H61?(B8'YJF'.3WGO1ZL)I"RP
M                              #J^Y^H_J3T!?+\U_++!1O9 N?WY_J1
M_P"LY%^8W/1_ ^LM4L8T\IJC?PCC/RAS'3/5OJ/0<K.B=JJ:)BG^:KT:?G,-
M"?<?I=^$P           ?TK'Q)W
M                                           '2-W]MZ/<_1M38I%9
M'71?X1;ZA4^Q5#47&?Q7(JM=[E]J(8>=B1F69H[>SQ=-T3Z17.C6I4Y5/&B>
M%<=],\_?'./;'M:"5U#66RMJ+;<:9]/54DKH9X9$PZ.1JX<U?D5#AZJ9HF::
MHVF'ZPL7K>3:IO6:NM35$3$QRF)Y2_'P/.7HL5E4(%7?'S[413UM\BGG(77
M                                         8$XM-1^B:<M&EXI,/N%
M2ZJE1/\ )Q)A$7Y7OS^B?3/HUP?*9=W-JCA13U8\:N?RCYOA/TYZOY#3L?3*
M)XW*IJGPHCAOXS5\FKA]D?F(           ']*Q\2=P
M
MUBXL-J<8W0LE/X<D%W8QOE\6.?\ 8QWNY%\E.<UK"_\ \FCW_J^W?1;THW__
M +'E3WS;GYU4?^5/OCMAK(<Y,/MJ47R*HE)555_QFK\J%[?;!'. ]%P
M                                   ( TSXC]1_#^Z%=31R<T%GBCM[
M,+TYFIS2?Z[W)\Q]_P"@F#YEHU%<QQN3-<^_A'RB/B_'7TN:O]:=)KMNF=Z;
M,1;CQCC5_NF8]S%QV+YB           #^E8^).X
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MRKF=DW,J[QJKJFJ?&9WG\7S'JQ@           ?TK'Q)W
M
M   !CO?#;"#<_1LM# QJ7>@YJFV2KT^NXZQJOX+T3E7V+RKY&!J.'&99ZL>M
M'+^_:Z_H7TEJZ-:E%VN?V5?HUQ[._P :><>S>.UH=/!-33R4U3"^&:%[HY(W
MIAS'M7#FJGDJ*BHIQ,Q,3M+]4T5TW*8KHG>)C>)CE,3RF/%1%P4665.9JI[4
MP1RG=68WX*-7+45?''4]EHG>-TA(
M       ,5<2NH_@/;&JHHY.6:\SQT+<>/)GGD^;E9C]([3H%@^>:S3<F.%N)
MJ]_*/G._N?+?I?U?ZMZ-5V:9]*]5%$>'K5?*-O>TW/OC\?(            #
M^E8^).X
M                          &J/%;M3\&5Z;F62GQ2USVQ76-C>D<Z]&3=
M/)^$:[\;E7[Y3F=:PNI5YQ1RGGX]_O?>OHNZ4><VOJ3*GTJ(F;<]]/.:?]/.
M/9O'8UU.?E]A2B^15$PJG17-]BGI')%/;"25@
M                :K\66H_3=56O3,4F8[72+42HB_OLR^"_(QC?YQ]G^C7
M\EA7<RJ.-=6T>%/]9GX/R[].6K^<:I8TVB>%JGK3_-7/Y4Q'Q8)/I+X<
M        !_2L?$G<
M                                   #XKS9[=?[55V2[TK*FCKH703Q
M/3H]CDPJ?_/R4I<HINTS17&\2R</+O8%^C)QZNK71,3$]TP\_=S- W';75]9
MIBO5TD;%[ZCJ%3'I%.Y5Y'_+T5KO8YJ^XX;+QJL2[-NKW>V'ZUZ-Z[9Z1Z=1
MG6N$SPJC^&J.<>';'LF'5C$EO4+\=%]J8_[?TEJ>2G*I)9<
M                         (7&.JX3S7V!$\&@VX^HUU;KJ]Z@1_-'55C^
MY7_--7DC_P!5K3]-:%@_5FFV<7MIIC?QGC/SF7X0Z7:M]>:YE9\3O%=<[?RQ
MPI_VQ#K9MG.             ?TK'Q)W
M                                                    8MX@=JF[
MDZ0=-;:=KK[:4=/0.3HLJ??P*OL<B=/QD;[S6ZGA>=VMZ?6CE^CN>@?2B>CN
MHQ3>G]A<VBOV=U7^GM_RS/L:-.:YCE8]KFN:JHK7)A45/%%3R4XR8?J&)B8W
MA1_1JKCPZD4\]D5<(W[EBZP
M =/W<U)]2FW-]N[).29*5U/ N>O>R_6VX^179^8WO1G ^LM6L6)CAUMY\*>,
M_ALY'IWJWU)T=RLN)VJZLTT_S5>C'PWW]S1'W>P_2;\-              /Z
M5CXD[@
M                           &H'%-M2FFKZFO[)3<MLO,O+6L8GJP5:]>
M;W-DZK^4B_A(<KK.%Y*OR]$<)Y^/]?Q?H7Z,NE'UCB_5.35^TM1Z,_Q4=WC1
M_P =NZ6!C1R^K*L\.7\%<'ISXJT\MNY8A8
M           :^\6^H^XM%DTI#)ZU7.^NF:GX$:<C,^Y7.<OZ)]0^C3 Z]^]G
M51ZL13'C/&?E$?%\"^G75_)XF-I=$\:ZIKJ\*8VCXS,_!K&?8'YI
M      ?TK'Q)W
M                                   .+U-IVUZLL-=IR]4Z345?"Z&5
MOGA?!R>QR+A47R5$4\[UJF_1-NOE+-TW4+^E9=O,QIVKHG>/TGV3RGOAY]:\
MT7==O]55VE;NG-+2/S',B8;/"[JR1/<J>7DJ*GD<+DX]6+=FU7V/UQH>L6->
MP+>?C\JN<?PU1SIGPGXQM/:Z]X/_ "D_I3_M_0>,<FTY5>*Q*P
M                         ! &E?$+J/ZHMTKHV.3G@M:,MT77_)IZ_P#[
M1S_U'Z#Z$8/F.BVMXXU[US[^7^V(?C+Z5=7^M>D]^*9WIM;6X_T^M_NFIC8Z
MU\Y              ?TK'Q)W
M                                               &'N)#:A=?Z5^'
M+-2\]]LC'20HU/6J8/&2'WK]\W\9,??*:K5<+SFUUZ(]*GYQW?H^B?1WTI^H
M<_S7)JVL7=HGNIJ[*O#LJ]G'L:3.ZMRG7'5#D(YOTK5'!**BHBHO124\^,)"
M0                                  ''Z@O%/IZQ7"^U2IW5OI9:EV5
M\48U78^=41/G,K"Q:L[)MXU'.NJ(^,[-?JN?1I6#>SKOJVZ:JI]T;O/>LJYZ
M^KGKJIZOFJ9'32.7S>Y555_6JGZCM6J;-%-JCE3$1'A'"'X"R;]>5>KOW9WJ
MJF9F?;,[R_$N\0             ']*Q\2=P
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M/NCTJOPB/>T^/N[\B@              ']*Q\2=P
M
M    X/6ND;5KK3%?I:\QJM-71<G,WXT3TZLD;^,UR(J?(>.18IR+<VZ^4MGH
M^JY&B9MO.QI]*B?=,=L3[)CA+SWUAI>ZZ)U)7::O<?)5V^58GN1,-D8O5LC?
MQ7)AR?+@X>[9JQ[DVJ^<?W\WZVTO4\?6,.WGXT^A7&_MCOB?;3/"7%GDV0
M                                #5#BMU'\(ZUH=.Q29CL]&CWIGPFF
M7F7_ %&Q_K/MGT;X/D-.KRYCC<JX>%/#\9E^5_IOU?SO6;6GTSPLT<?YJ^,_
M[8I80/HCXH               ?TK'Q)W
M                                                         !@W
MB@VG^K#3?U8V6EY[O9(G+,QJ>M4TG57-][F=7-]W,GFAIM7P_+6_+4>M3\X_
MH^G_ $:]*(TK,^K<JK]C>GAORIKY1/A5RGW3V--XURW&<XZ9]J>2G+>U^BJ>
MZ>Q8A8                                $.<UK5<]41J)ERKY)YD[3/
M"%:IBF)F7G_KK4+M5ZQO.HG.RVNK))(\^4><,3YFHU#]/:/@QIN!9Q(_=IB)
M\>WY[OP5TFU6=;U?)U">5RN9C^7?:F/=3$0X(V+1@              ']*Q\
M2=P
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MP
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M'Q)W
M                                :]<5FU'PU:4W)LE/FOM,7)<6,;UG
MI$Z]Y[W1JJK^0KO8AI-7P_*T>6HYQS\'UGZ,NE'F&3]4Y,_L[D^C/=5W>%7_
M "\9:F'+OT$                              (54:BJY41$\57P0E$S$
M1O+13=S6/U<Z_NE\ADYJ1LGHU'[.XC]5JI^5U=^D?I'HSI?U/I=K&JCTMMZO
MYIXS\.7N?AWIWK__ %)KU_-HG>C?JT?RT\(GW\:O>Z:;YQX
M   _I6/B3N
M                                      I)''-&Z*5C7L>BM<UR9147
MQ14\T$QNFFJ:9ZU/-HCOMM;)MAK*2"B@5+'<U=46QW7$;<^O J^UBJF/:U6^
M\XW4L/S6[O3ZL\OT?J/H+TGCI'IT1=G]O;VBOV]U7O[?;O[&.#7.W
M                      ,6\0VO4T;H2:@HY^6Y7SFHZ?"^LR-4^NR?,U>5
M%]KT.RZ$:-]:ZE%VY'[.UM5/MG]V/CQ\(?,/I6Z3QT?T.JQ:JVO7]Z*>^(_?
MJ]T</&8:9GWY^.P                 _I6/B3N
M
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M?'M?B3IWTIKZ6:Q7F1]E3Z-N.ZF.WQJGC/CMV.E'0.,
M#^E8^).X
M                                      UHXL=JDEITW2LE/Z].UL5X
M8Q/&).C*C]'HUR_@X7P:II=6P)O4^7MQZ4<_;'ZQ^#Z[]&?2Z,&[&C9E7[.N
M?0F?W:I_=\*NSNJ_F:O'+/OP                          &NO$UNLV.)
M^V]AJ<R28==I6+\5OBV#/M7HYWNPGFI]5^C_ *.355&KY,<(]2/QJ_*GWSW/
MSU],73>**9Z.X-7&>-V8[(YQ1[^=7LVCMF&M9];?G$
M']*Q\2=P
M                                     !^552TU=32T59!'/!.QT4L4
MC4<Q[')A6N1>BHJ*J*A,3,3O \^-Y]O:C9[<+ZE9DD6RWA)*K3M6_*I+&WK)
M2.<OC-#E/'J^)6NZJV3'/:QI7DZ//<>/0W]*/X9G_P :NSNGAW;_ *'^CWIO
M]<T1I>?5_P#44QZ,S_W*8[?YH_>CMCTN_;J9SCZH
M    &,=[=WJ7;>S>@6V2.6_U\:^BQ^*0,\.^>GL3[U%\5]R*=AT2Z,5Z]D>4
MO1M8HGTI[Y_AC\Y[(]LP^:?2-T]M=$L/R&/,3E7(]&/X8_CGP_=CMGV1+3.H
MJ)ZNHEJZJ9\TTSW222/=S.>Y5RKE7S557)]^HHIM4Q11&T1PB(Y1#\=WKUS(
MN57;LS-54S,S/&9F>,S/ME^99Y@                  _I6/B3N
M
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MOA$<HB.$1PA\!DL$                   #^E8^).X
M
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MA#Y#W8@                    #^E8^).X
M
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ME5/HKXI,S,[R@(                      /Z5CXD[@
M
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MD3DZC=FY7WS/+V1'*(]D1$.*,QK                         _I6/B3N
M
M                                  _&KI*6OI9J&NIHJBGJ(W12Q2L1
M[)&.3#FN:O145%5%1>BHI,3-,[QS)C?A+R X]^!FJV*NE1NGM?;I9]O+A-FI
MIHT5[K#,]>C'>:TSE7#'K\151COO57Z+H.N1G4QCWY_:1_N_KW_%SVH8,VY\
MK;Y?W_?]\=+SIVH7@GFIIF5%/,^*6-<L>QRM<U?:BIU0K713<IFFN-XGLEZ6
MKM=FN+EN9BJ.4QPF/>R+IGB$W0TTUD/PXETIV8Q%<H^^Z?E]'_ZQRNH="=&S
M]ZO)]2KOHG;Y<:?D^@Z/]*G2;1XBCR_E:8[+D=;_ '<*O]S)UBXNJ!Z-9J71
M\\2I\:6@J$D1?T'X5/YRG'9GT978XX>1$^RJ-OG&_P"#Z9IGT[V*HBG4L28]
MM%43_MJVV_\ E+O5KXCMIKDB))J":@>OWM722,Q^DU'-_I.<R.@NN8_*U%<?
MY:HGY3M/R=QA?2WT5S/6OS;GNJIJCYQ$Q\W9J'<[;JXHBTFN+&]5\EKHVK^I
MRHII[W1_5;'VF-7'^F9_#=TN-TRZ/97V6;:_^=,3\)F'*1ZFTY,G-#J"V/3V
MMK(E_P#U&%5@9=/"JU5'^F?T;*C6=-N1O1D43X5T_JM)J/3T2*LM^MK$3Q5U
M7&G_ .HBG!RJO5M53_IG]$UZQI]N-ZK]$?ZJ?U<;6;D;?V]JK6:VL<>/):^)
M5_4BJIF6M"U2_P#9XU<_Z9_1K\CI=H&+&]W-M1_[E._PB76KIQ#;2VQ%1-3^
MF/3[RDII),_/A&_TFVQ^A&N9'_9ZL?YIB/SF?DYO-^E;HKA\/.>O/=335/SV
MB/FZ/?.+FQPHYFF])UM4[P;)63-A;\O*WF5?UH='A_1GDU;3EWZ:?93$S/QG
M:/Q<5J7T[85O>-.Q:JY[ZYBF/A'6GYPQEJ7B/W/U CXJ:YPV>!WWEOBY'X_A
M'9=^I4.OP.@FC86U5=$W)_SSO'PC:/CN^:ZQ]+G275=Z+=R+-,]EN-I_^4[U
M?"88TJZVLN%0^LKZN:IGDZOEFD5[W?*Y555.OM6K=BB+=JF*:8[(C:/A#YOD
M9-[+N3=OUS55/.9F9F??/%^)=X@                          ?TK'Q)W
M
M                                    /DNMJMM\MM59KS04]=05T+Z>
MIIJB-)(IHGHK7,>U>CFJBJBHOBA:BJJBJ*J9VF$3$3&TO'KCHX%+IL!<JC<C
M;:CJ*[;FLES)&BK)+8I'+TBE7Q= JKADJ^'1CUSRN=]'T/7:<^F+%^=KD?[O
MZ]\?!SN?@3:GREODTZ.D:I  "0(\?'J PGX+?U(3O*=S"?@M_4@WDW.GDB($
M)SGQ($                               ']*Q\2=P
M
M                     !\URMMOO-OJ;3=J&GK:*LB?!44U1&DD4T3DPYCV
MNZ.:J*J*B]%0M35-$Q53.TPB8B8VEY&<<W %<=E)ZS=3:*BJ*_0,CEEK:!N9
M)["JKURO57TN?!Z]8_!V4PX^AZ'K].;$8^3.USLG^+^OX]C09^G^3WN6N324
MZAIP                                       ?TK'Q)W
M
M                            #\ZBG@JH)*:IA9+%*U6/8]J.:YJIA45%
MZ*BITP3$S$[P/+_C?[..?3B5^[G#S9Y)[4G-4W;2U,Q724B>+IJ)J=71>*NA
M3JWQ9EOJM[K1.D<7-L?,GCV5=_LGV^WXM)G:;SN6?@\[3LFBY
M                           !_2L?$G<
M
M              $*F>B@:+<:?9SVC=9U;N?L?24=HUD_FGN%IRD-'>'>*O:O
MQ8:A?PNC'K\;E55>=5HO2*K$VL94[T=D]L?K'SCY-7FZ?3?CKV^%7XO*._6"
M]Z6O5;IS4MHJ[7=;;,ZGK**KA6*:"5OBU[%ZHO\ _*=#Z!;N47:8KHG>)Y2Y
MZNBJW5U:HXN/+J                                    ']*Q\2=P
M
M                                       &O?%3P7[9\3MH=67")MCU
MC2P]W;]04L2+(B)X15#.G?Q9^]54<WQ:YO5%W&EZS?TRK:GC1VQ^G=+$R<2W
MDQQY][QSWRV W.X>=7/TAN3874KWJYU#7PYDH[A$G[Y!+A$=Y9:N'MSZS4/I
M&#J%C4;?E+$^,=L>+FLC&N8U6U4,<F:QP
M       ']*Q\2=P
M                                                         #JN
MY>UV@MW])U>B=Q=-4EZM%8F70SMZQO3XLD;T]:.1,]'M5')[3WQLJ[B7(NV:
MMIA2Y;INT]6N-X>3/%CV<VX.R#JW6FV;:S5^AXU=*_DCY[E:X_'Z_&U/KL:)
M^^L3HB9<UOQE^@Z3TBLYNUJ_Z-?RGP[O!S^7IM5K>NUQAIRBHJ(J*BHO@J>"
MG2M5R                                  _I6/B3N
M
M                              (QD#3'BH[-C;K>-:S66U;J31>L9>:6
M6-D6+9<9%ZJLT34^LO5?WR-/>YCEZG2Z7TDO8>UN_P"G1\X\._PGXM=E:=;O
M^E3PEY5[J[/;D[)ZGDTAN;I.LLEP;S.A[UO-#5,1<=Y!*WU)6>]JKCS1%Z'?
MXF98S;?E+%6\?AXQV.?O8]RQ5M7#IADO
M    /Z5CXD[@
M                                                          ZI
MN3M9M]N_IB?1^Y&E:"^VJHZ]S51Y6-_D^-Z8=$]/)[%1R>TR,;*O8E<7+-6T
MJ7+=-VGJUQO#S)XE>RSUQHGTK56P574:MLK<R/LE0K4NE,WQQ$[HVJ1$\O5D
M\L/7J=QIO2FU>VMYD=6KO[/?W?AX-'DZ5-/I6>/L:(UU!76NMGMMSHJBCK*6
M18IZ>HB='+"]/%KV.1'-5/8J(IUE-45QUJ9WB6HJIFB=JH?@2J
M                   ?TK'Q)W
M
M              @##&__  B[)\1U$YVNM,M@O;(^[IK];L07"'IT19,*DK4_
M D1S?8B>)L\#5LK3I_95>CW3R_I[F/?Q;>1&U</,7B%[-W?+9GTJ^Z2IEU]I
MB'F>M5:X%2NIXTRN9J3*N7")U=$KT\U1IW.G]),7,VHN>A5[>7NG]=FCR-,N
M6N-'&&ICFN:YS'(J.:JM<B^**GBB^Q?<=#S:R8F.$H"
M          /Z5CXD[@
M
M       $>(&!-_."38/B#;/<=2Z72T:BE15;?K-RTU8KNN%EZ*R=,X^R-<N/
M!4-M@:UEZ?PMU;T]T\8_I[F+?P[61ZT<>]YQ[[=F7OUM4M1=]#PQ[A6"++DD
MM<2QW")B?Y2D555W_P"4Y_R(=I@])L3*VIN^A5[>7Q_79I;^EW+?&CC#4>KI
M*J@JIJ&NIIJ:IIW*R:&:-8Y(W)XM<UR(K5]RH=%$Q5&\<FMJIFF=JGXDJ@
M                     !_2L?$G<
M
M                     (QD#%N\G#%L?OU2NCW)T%;Z^M1G)%=(6^CU\/3"
M<M1'A^$_!<JM]QGX>IY6!/["N8CN[/@\;N/;O1Z<;M"MY^R.U7:EGNNQ6N8+
MW3IES+1?N6GJD3R:RI8G=/7\ML?RG68?2VW5Z.71M[8XQ\.?XM3>TCMM2TBW
M(V=W2V@N/P7N;H*\Z<F5RMC?6TRM@E5/\G,F8I$_)<IU.-FX^9'6L5Q5_?=S
M:J[C7;,[5PZ?A4\4,EX(                      _I6/B3N
M
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MD>GO:JH=!8RK&3'6LUQ5X2U]S'N6IVJAUK'3/DI[O%
M _I6/B3N
M
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M5_\ :-1%^8V]K(M7XWM515X3$L.NS<M^M&S@6X>F6*CD]K5R>JDQ,<P(
M         _I6/B3N
M
M                   A41?% /QJJ*DKH'TM;315$,B8?'*Q'M<GO1>BDQ,T
MSO!,;L5:QX2>&C7KEDU/LCI&HE=\:>"W,I9G?+)!R.S\YGV=6S;'J7:OCO\
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M"-1_SJ;_ *TCZ]T__P"['S_0^KLCN>\)\H=4
M
M                                              ",(OBB .5J>#4_
M4  8 8 *B+XHB@.5OX*?J <K?P4_4!(
M
M
M
M
M
M
M
M
M
M
M
M                           !T/=W>K0^R-FHK[KJ>MBI+A5>APK2TKIW
M+)R.?U1/!,-7J;+3=*R-5N3;QHC>(WXSM[&LU35L;2+<7<F9B)G;A&_%RFV^
MY&D]U])TNM-%W!:NVU;GL17L6.2.1CN5S'L7JUR+Y+Y*B^"H>.=@W].O3CY$
M;51_?![X&?8U*Q&1CSO3+@=X]^]OMBZ>UU.O:BOB9=W3,IO1:-T^5B1JOSR^
M'1Z?*9&F:/E:O-48T1Z.V^\[<V-JFLXND11.3,QUM]MHWY;?J[[;J^GNMOIK
MG2*Y8*N%D\:N;A>5[4<F4\NBH:ZNB;=4T5<XX-E;KB[1%=/*>+Z2BX
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M41,>36JOS'G?T7/QK<W;UJJ*8YS,+X^M:?E7(M6;M,U3RB)9#-8V@
M
M          !J#VE&4VNTLJ>6H%^BS'<=!/OES^7\X<#](/' M_S_ )2Q/PR[
M@77AIW5H=!ZRK')I'7UOM]RIJF3U8XWU,+74]2F>B)E702>]J*O1ANM?PJ->
MPJLFQ'[6U-43';Z,\8_\H_JT71W-KZ/9M.+D3^RO135$_P T;Q/_ (S_ $=Y
M[3=<V;0'\/=/[.$UW0+U[_A3^,MI](7J8_C5_P"+9:[[GZ/VBV@M6L]:W!::
MA@MU'&QD;>>:HE="WEBB9]\]<+TZ(B(JJJ(BJG)V\"_J6=5CX\;S,SX1&_.?
M8["YJ./I>GT9&3.U,1'C,[<H]K G]_IJV>WR:OMW#=J2?2$3EYKNM2_D1B+A
M7*Y(%B3'GZZHGADZ3_H^Q35Y"K+IB[_#M_7?Y.7_ .M;]5/EZ,.J;7\6\_\
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M;QOPY3/Y-D#E'7I
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MRN\%7HZKD14\$Y8FJG7JG7MHITSHC3O/[3(V^'_XQ\Y<%-6J],ZMJ?V6-O\
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M!\L?6T@
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M?/C,SWRRM+Z,YV5G1J6L5;U1,3$<^,<N7"(CNAN4<&^A)
M
M                    $ 2       ! $@   "  $@         $ 2
M
M
M
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M-YU<+$TSN)+;-%FD5%U-1]%>OM4WV9]WK\&%:]>'MTG@AR#:)
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MJO<Q5[N\[YL7DBK&D2O1//D5>J]<;6(HWIG][\GIB[\>YZ &D98
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MTMFU)Z0ZMFN$<S)4IN_A5$8UB*G-S93KTQ@WN#@3CU>4ZV^\?BPKUZ*XZNS
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MST.@M"/HH'.T;8558F*O_<V#V)^*<9-RO?G+;=6.Y^W]S_07_,RP_P"C8/\
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M7_SK7_1V&!HWK5^Y[9?*&OG9U?=4V'^2KI_8&=JGW:?<\<?[1Z\G,-B
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M7VJO1.B83H:F]?N7ZNM<G=DT411&U+@N(?8:Q<16@XM!:@OMQM-+%<8+DD]
MV-9%?$UZ(WZXU4PO>+GIGHA?&R)Q:^O3&Z+E$7(VEAC:SLZ-O=JMQ+!N+:]P
MM45M7I^K],AIZF.E2*5W(YN'<L:.QZR^"^1EWM4KO6YMS3''Q>5&/31/6B6V
MV/5Y?=@UC(:D[I]G1M[NKN)?]Q;IN%JBBJ]05?IDU/31TJQ1.Y&MPWFC5V/5
M3Q7S-G9U2NS;BW%,</%CUX]-<]:99KX>]B[)P\Z _N?V"^7"ZTOI]17^D5S8
MTEYI>7+?K;4;A.7ITR8F3D3DU]>J-GK;HBW&T.*XA.%O;'B-ME/'J^DGHKQ0
M,<R@O5 K654#57*QKS(K9(\]>1Z*F<JG*JY+8V9<Q9]#EW(N6J;D<6ILO9/W
M3X2Y8-[Z;X/YOC/L#N_1OR)/RJIL_KF-O4X^/]&/YI[6<+'V?6TEAV@ONV%'
M=[MZ?J9:7X4U$K8EK9&P3,F9%&U6K'%%S,SRHBYSE55414PZM2NU78N3'".4
M/6,>F*9I<)MOV;VW>VVO]/;@6[<35-75:>N$5QAIZB.E2*5[%RC7<L:.PN?)
M<E[NJ5W:)HFF./BBG&IIF*MVWN.F#5LAJOO5V=VS.ZEUJ-2Z<J:S1-XK'K)4
M.MD;)*.9ZJJN>ZF=A&N5?%8W,SXJBJN396-3NV8ZM7I1_?:QZ\>FOC'!A6#L
MGKHM;RU.^%*E)GXT>GW=[CY%J.7)E_7,;>I\_P"CS\T]K8W8+@?V=V'N$.IJ
M6&KU)J:%/K5UNO(JTRKE%6")J(R)53IS>L_&4YL*I@9.H7<F.K/".Z'M;L4V
M^/:SAJW3M/J[2MYTI5U$L$%YM]1;Y)8D3GC9-$Z-7-STRB.RF>AAT5=2J*H[
M'K,;QLTQ7LI-K5A6'^ZEK'"LY,]U1^S'^2-M]<7/X8^;&\UI[VZ]DM<5CLU#
M9H)7R1T%-%3,>_',Y&,1J*N.F5P:BJ>M,RR8C:-F#>)/@]TCQ+7RR7W4>KKW
M9Y;)234D3+>R!6R-D>UZJ[O&.7**W'0S,7.JQ(F*8B=WE<LQ<G>9?CPW<&NC
M^&S4UVU/IS6%]N\UWH&4$D5P9 C&-;(DG,WNV-7.4QUZ$Y6=5E4Q35$1L6[,
M6YWB7=-\>&_:KB#M4-#N!9'NK*-KFT5THY.YK:1%ZJC),*BM5>JL>CFJO7&>
MIXX^5<QIWHGW+5VZ;G-J)?\ LH9DJ'/TKO7RP*J\L=RLG,]J>Q7Q2M1WR\J&
MTIUG^*CYL><3NERVC>RGT[2UD53K[=JX7.G:[+Z2U6YM'SI[%ED?(Y$^1J+[
MRMS6*ICT*=O%,8L=LMT=O-N=%[5:5I-%Z!L%-:+11Y5D$**JN>OQI'N7+GO<
MOBYRJJ^TU-V[7>JZ]<[RR::8HC:'TZTT/I+<73E7I'6]@H[S:*YO+/253.9C
ML>"IYM<B]4<U4<B]45"+=RJU5UJ)VE-5,51M+2_7795Z,N-=+6;=[G72QP/7
M+:*Y4;:]C/<V1'1OQ^5S+[U-M;UBN(VN4[^'!C58L3ZLN*TQV45!'5QRZRWE
MJ:BE:Y%?!:[0V![V^:=Y+(]&_P Q2U>LSMZ%'QE$8L=LMR-HME=N-CM-?4MM
MSI^.WTTCDDJ9W.62IJY43'>32N]9[O9Y)G"(B=#57K]S(JZUR631131&U+MU
MUM5MOEMJK->*"GK:&MA?3U--41I)'-$Y,.8YJ]'-5%5%13RB9IG>.:TQOPEI
M'N7V6FB[W=)[IM?K^KTS!,Y7I;*ZD].IXL_>QR<[)&M3R1ROQ[3;VM7KIC:Y
M3O[>3%JQ8GU96VM[+C1>G[S37C=+74^JH*=Z2?!5)1>ATLRHO1LSE>^1[%\V
MHK<^"JJ907M7KJC:W3M[2C%B)WJEVS=#LY-N-S]?WO7U9KW4ELFO4[9G4='#
M2I! C8F1M9&CHU5&HV-,)GH>5G5+EFB*(IB=O%:K'IJG?=G+8+9.R\/^WD&W
M5AO5?=*2"KJ*M*BN;&DJNF?S*GUM$;A%\.AAY.1.3<\I5&SUMT1;C:&1SP7<
M1J_3E/K#2=ZTE5U$M/!>[=4VZ66+'/&R:)T:N;G*91'*J9Z9+45=2J*H[$3&
M\;--&]E-M<UK6_W4M8^JB)]BH_\ JC;?7%S^&/FQO-:>]MQHS;^@T7MK:-M*
M.OJ:BCM%HBL\=3*C4E?&R+NT>["(WF5.O1,9-7<N3<N3<GMG=D4T]6GJM1D[
M*7:UL:1INEK'"-1OV*C]F/\ )&T^N+G\,?-C^:T][<C1&EJ70^C;%HRBJIJF
MGL-MIK9%-,B))(R&)L:.=RHB95&Y7"8-5<KFY7-<]K)ICJQLQ5Q+\*NE^)IN
MG6:DU1>+/]3KJIT/P>R%W>]^D:.YN\:[P[I,8QXJ9.)F58F_5C?=YW+47=MW
M7>'C@@T7P[:[GUYI_6NH+M4SVV6VK!7LITC1DCXWJ[ZVQ%RBQHGCCJI?*U"O
M*HZE41"+=B+<[Q+/VJ-,:?UIIZX:4U5::>YVBZ0.IJRDJ&\T<T;DZHO[45.J
M*B*BHJ&%175;JBJF=IAZS$3&TM-=3]E;M?<+C)5:5W'U-9:5Z\R4L\4%:D?N
M:]R->J>SF5R^U5-K1K%R(VJIB?DQIQ:9Y2S'PP<).GN&1]_J+/K"ZWV?4#*9
MDZUD$43(TA616\C6)GKWBYRJ^"&+EYM67MO&VSUM6HM<F4-R]K=![O:7GT?N
M'IRFN]MF5'M9*BH^&1/"2*1N'1O3/1S51>JIX*J&-:O5V*NO;G:5ZJ8KC:6F
M6L.REL%362U&@]W+A;Z9SLLI;K;65:L3V=[&^-5^=N?>;:C6*HCTZ?@QJL6.
MR31_92Z?IJV*HUYNW<+C3-=E]+:K:RD5Z>SO9'R*GS-1?>*]8JF-J*?B4XL=
MLMT-N-LM#;2:6IM&[?:>IK1:J95?W42*KI9%^-)(]<ND>N$RYRJO1/)$0U-V
M[7>JZ]<[RR::8HC:&)>)+@YTCQ*ZALVH=1ZOOEGELU%+11QV]D"MD:^1'JYW
M>,<N45,=#*Q<ZK$IFFF(G=YW+,7)WF7Y\-_!GH_ALU3==5:<UA?;O/=;>VWR
M17!D",8Q)4DYF]VQJYRF.O096=5E4Q35$1L6[,6YWB6PQ@O9KOQ'\&&CN)+5
MMLU=J+6-]M$]KMWP:R*WL@5CV=ZZ3F7O&.7.7JG3IA#.Q<^O%IFFF(G=XW+,
M7)WF7T\-G![I'AIOE[ONG-77N\2WNDAI)67!D"-C;&]ST5O=L:N55V.I&5G5
M9<1%41&Q;LQ;G>)<!OSP':&W\W%J=Q[[KG45KJZFCIZ-U/11TRQ(V%%1%3G8
MKLKS=>IZ8VHUXUOR=-,2BY8BY.\R[IPT\+VF>&:@O]!IO4UWO#;_ %$%1,ZX
M-A:L:Q,<U$;W;6]%1W7)XY>75ES$U1MLM;M1:Y.Q[^[)V7B V\GVZOUZK[72
M3U=/5K44+8UE1T+^9$^N(K<*OCT//&R)QKGE*8W6N41<C:6"-M^S>V[VVU]I
M[<"W;BZIK*K3UPBN,-/41TJ12OC7*-=RQH["Y\ER9MW5*[M$T33''Q>5.-33
M,3NV]QTP:MD-+]0=F!MIJ#4%SU#4;F:MBENE=45SXV14G*QTLKI%:F8\X17*
MB9ZFVIU:Y33%/5CAXL:<6F9WW;/[/;9VW9W;6Q;:6BY5=PH[#3NIXJFJ1B2R
M(LCGY=R(C<Y>J=$\C77[LW[DW)CF]Z*>I3U8=R/)9TO>7:^V;S[9WS;*\7.K
MM]'?8HXI:FD1BRQHR5DB*U'HK?%B)U3P53VL7IL7(N1')6NGKT]66J:=E3M>
MCN;^ZCK#QS]BH_\ JC8_7%S^&/FQ_-:>]NY!$D$,<+554C:C45?/"8-0RGZ
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MKR;?DYIB%;=B+=76B6T)KGN
M
M
M
M
M                           '6]Q=P=,;5Z+N>O\ 659+2V:T1LDJYHH'
MS.8UTC6)AC$5SO6>WP0]+5JJ]7%%'.5:JHIC>6"?^$7X5T_\<;M_H&L_W#,^
MJ\GN^</+SBWWG_",<*__ #QNW^@:S_<'U7D]WS@\XM][Z:#M#.%2NJ6T[]?U
ME(COWRILE8R-/E=W:X(G3,F/W?G!&1;[V<-$[A:'W(L[;_H/5=KOUO<N%GH*
MELS6._!=A<L=[G(B^XP[ENNU/5KC:7M35%7&'82B0
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MYJ^TPW[2M^M]XMU0F8JNAJ63PO\ D>Q53/N,*JBJB>K5&TO6)B8WAR95(
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MJ9%1KI6,<JJQ[7.;SLRJ8<CF],HW2Y^#YMZ='JS\F79O>4X3S;5&M9
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MZG;$[T.CL=/0/?Y=[-4=XB?+RP.7YRNL51Y.FGVIQ8XS+6OB@^Z/W._.FO\
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MO''C]I#F>TH^Z;G_ #>MO[9BFE?=_?*<GUV9NR=_<&Y_\8M']2I,36>='O\
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MH9-%BB:*?6GY+6+=5<[SR9_[57IM-HS\YU^ASF#H_P!K5X?F]<KU8:I=G_\
M=9:*Z_O=R^@S&SU+[M5[OQ8]C[2'KU?_ /$5P_BDW]13EZ?6AL9Y/Y_$QW/C
M]Y_L.V:A[J</WVB=NOS4M/T2,X[)^VK\9_%M;?J0\Y^T\^Z*M_YJT7TBI-[I
M/V$^/Z,+)]=E#LF\+#N>G^<M']6J,?6?W/?^3TQ.UQ':"\).HH]45N_&V]EG
MN-ON34EU'0TD:OFI9VM1%JVL;U=&]J)SX15:Y%<O1RJVVFYM/5BS<GC'+]$9
M%F=^O2UVX?\ BWW:X>(:FW:-J;?<[%62K42VFYQNDITF5,+)&YCFOC<J(F<+
MA<)E%7J9^3A6LKC5PGO>-N[5;X0YW?3CEWIWRL":5N3K;IJQJ]DM136;O8WU
M+F+S-[V9[U<K47"\K>5%5$5<X0\\?3[6/5UHXS[4UWZJXV9.X ^';7^N]=6O
M>364UYI=(6"7TNW)55,R)=JQO2-6-<[UH8U]=7XY7.:UJ9];&/J631;HFU1Z
MT_)Z6+=54]:>3O\ VL72R[9]?_#KI_90'CHW.OW+Y7*&#^S;5/[Y^BZ__4-S
M_9$9>J_=_?#RQOM'K8[P^=#F6P>".X2I_=$U3U_^OKC]*D.TM?9T^$?@U-7K
M2]?."),\*>W*>VTN_MY3E\_[S7XMC9^SAY[=H)MQ?]$<1E^U+<*&5MGU>Z&X
MVVL5J]U*Y(61S1<WASL>Q55OCRN:O@IO--NTW+$4QSAAY%,TU[]['NU7%!OC
ML98:^Q;:ZQ^#K;52/K'TL]##51MG5J(LC$E:O*JHUN<+A<)E#WO8EG(JBJY'
M%2B[71&T2] ^,3;C5^^G"7IW4-GII+IJ&S0V_4DL$$?URK:ZD5M2D;&IU=RR
MJ]&IX\BHB95$-)@W:<?*FF>$3O'SX,R]3-RW$QS>;FS^ZFI=EMP[5N3I)E-+
M<+2^1O<U+%=#/'(Q62Q/1,*B*U53*=45$7RP;Z_9IOVYMU<I8-%<T5=:&UNH
M^TLWFW!HHM$;9[8T%HU!>E2BIJBGJ9;A5+*_HGH\2L8G/[%=S(WQ5.F36T:5
M:M3U[E6\1[F3.355PIAIQJ_3M\T?JZ\:4U0SN[Q:*^:CN#5E[S%0QZI)Z_WV
M797F\\Y\S:T5171%5/*6+5$Q.TO6[A"J8*G@OT@Z"5KTCL-9"["YY7LDG:Y%
M]Z*BG,9L;9=7BV-G[.'CI&J>BLZ_O2?U3JFM>ZW#]]HG;K\U+3]$C..R?MJ_
M&?Q;6WZD._G@NZ1O9MQ1;N;4:HVZK6IB]VZ6"!Z_O50B<T$GZ,K6.^8]L>[-
MB[3<CL5KIZ],P\*9&55+)+35#70S,58IX\JF'-=ZS5^1R?K0[+A+4\F_797[
M8=_<=7;PU]-EE,QFGK:]S<ISNY9JER+[43N&_.Y#2:Q=VBFU'C^C,Q:>=3T3
M-$S #J&\/VI=:_F[<OHLAZV/M:?&%:_5EX-0*G<1=?WMO[$.S:EV2BW&W"MM
M)#;[;K_4U)2T[$CA@I[S4QQQL3P:UK7HC43V(F#SFU;JG>:8^$+=:J.UQ=XU
M!>+Y4-JM0W^NN4[?B25];).]/D61RJGS%Z:8IX4PB9F>;-?#WP=;L[\W6EJ&
M6>KT]I17HM5?J^G6-JQ^:4T;L+.]4SC"<B+\9WDN'DYUK'CGO/=^KUMV:KD^
MQZZ[=[?:8VMT5:= Z-H/1+39J=(*=BKS/=URY[W??/<Y5<YWFYRJ<Q=N57JY
MKKYRV%-,4QM#R XQ-H]0;2;\:FBN5!*RU:AN53>;-5JU>ZJ(9Y%D<QKO!7QO
M>YCF^*81?!R*=1@WJ;UF-N<<):Z]1-%<L@</_:!:YV.V^H]MJG0MMU);;5WC
M;=,^L?230QO>K^[>K6/21J.<["X141<=<(>&3IM&1<\IUMIE>WD31'5V=.X@
MMVM\.);3T>\.KK)%;]$6*XLLUOBI$<VDCJYV.<[E<_UIY.6+#W^#<M:B-YE1
M?;&LV<2KR5,[U3Q5N5U78ZT\G+=GA4P0<5>FV32M8L]ON<,>5QS/6F5R(GOP
MUWZBFIQOC3[DX_VD/2?BHT!>MT.'S6^B-.0]_=*^V]Y1PHO6::&1DS(T][EC
MY4][D-!AW(LWZ:ZN3-NTS51,0\4(9KG8[NV:!U5;[G;*ELC>BQ3TM1&]%3*+
MZS'M<U.B]45#KN%4>R6LXQ+T(X%.*??+>7=^HT5N-JZ&YVNFT]4UC(TMM/!(
MZ9DL#6O<^-B*JX>[W+GP-'J.'9L6NO;C:=^]F6+M==6U4M>^/3:+4.V^_P!?
M]25=#-\!:SJW7:VUW+]:?*]J=_ KO!)&R(Y>7Q5KFJGGC.TZ_3=L13'..#QO
MT337OWOOX;^.S6W#YHM=OG:,M^I+-#435-$DM6^EGIG2NYGLYFL>CV*]5<B*
MU%17+U5,(E<K3J,FOK[[26[\VXZNSC=^]\=\^*G2E9KV[Z?@M>@=&5<$:P42
MO]&CK*AW=,5TC^L\R(N%PB)&UW@BOZVQL>SAU=2)WJG\BY77=C?LAPW _5TU
M'Q5;>R5,S8VOK:F%JN7&7OHYVM3Y5541/>I?4(WQJ]O[XJV/M(>SK?!/D.3;
M-(                !QVH-.V#5EGJ=/:HLM%=K76-1M11UL#9H9D1R.1',<
MBH["HB]4\40M3551/6IG:43$3&TNC_WM?#WG/]Q#0O\ H"E_W#V\[O\ \<_%
M7R='<R0UK6-1C&HUK4PB)X(ACKCFHY%:Y$5%3"HOF!CAW#;P^/<KW;(Z%57*
MJJOP!2^/\PR/.[_\<_&5/)T=SNFF]+Z<T=9X=/Z3L5!9[93JY8:.AIVPPQ\S
ME<[E8U$1,N557">*J>-==5<]:J=Y6B(B-H?K?+!8]36R:RZBL]%=+?4IRS4M
M93LFAD3V.8]%1?U"FJ:)WIG:28B>$L*W'@6X4KG5+63;/VZ%[G<SFTE754T:
M_H1RHU$^1$,N-0R8C;K_ (/.;%N>QWO;K879S:5[IMN]N;)9*AZ*UU5!3(ZI
M<U?%%F?F14]W,>%W(NWOM*IE:FBFCE#OJ_%7Y#Q7>'W%!]T?N=^=-?\ VAV&
M)]WH\(:N[Z\O0+@(T=I3<#A#I-,ZVT[;[Y:IKS=.>DKJ=LT:JDZX=AR=')E<
M.3"IY*:/4:ZK65UJ)VG:&98B*K>TLAT_ ?PH4]?\(-VBHGNRCDBEKZN2%%_@
MW2JW'N5,'A]8Y,QMUOP6\A;[F;+!IZPZ5M-/8=-6:BM5NI&\D%)10-AAB;[&
ML:B(AB5555SUJIWEZQ$1PAR)5+@=8Z$T9N%:76+7&EK7?;>_*^CW"E9.Q%_"
M:CD7E7WIA2]%RNU/6HG:433%7"6')> GA/EJ_2UVEIVKG*Q1W.M9$OZ"38^8
MR_K')B-NM\H>7D+?<RMH':K;C:VWNMFWFBK/I^GDQWB4-*V-TN/-[_C/7\I5
M,6Y>N7IWN3N]*:*:>4.UGFLZ#=M@=CK]=*N]WO:#1U?<*Z9U155539:>26>5
MRY<][G,RYR^:KU/>G)O4QM37.WBI-NF>,P[/I?2&E=$6EMBT=IRVV.VLD?*V
MDM]*RGA1[ERYR,8B)E5ZJOF>5==5R>M7.\K1$4\(<N52 8QU#PR</>JJ]]UO
MVS6D*NKD=S23+:HF/>[S5RM1.9?>ID4Y=^B-J:Y^*DVZ)YP[1H;;/;[;.BGM
MVWVB[-IZGJGMDG9;J-D"3.:F$<_E3+E1.B*IYW+MR[.]<[IIIBGE#LQYK
M     'SU]OH;I1S6^Y4<%72U#%9+!/&V2.1J^*.:Y%14]RDQ,Q.\'-A?4?!-
MPMZHJI*VX;/6>GGE7F<ZW/FH4S^3 ]C?Z#+IS\FB-HK_ #>4V;<]CXK-P(\*
MEDG;4P[2457(QR.;Z?6U54S^9)(K5^=":M1R:OWOP1%BW'8S;8]/V+3%MALV
MG+-0VJ@ITQ%2T5.R"&-/Q6,1$3]1B5555SO5.\O6(B.$.0*I=/W$VAVRW9H(
M[=N/HBTW^&'*PK64Z.DASX]W(F'LSY\JH>MJ_<LSO;G96JBFOG#H^E^#3ACT
M?=HKY8]H+,E;3O[R&2K=-6)&Y/!6MG>]J*GDN,H>U>=D5QM-<JQ9HCC$.^ZO
MVIVRU_5T]?KG;[3NH*FDB6&":YVV&I?%&JY5K5>U51,]<(>%%ZY:X453"TTT
MU<X?IH_;';K;UU7)H30MAT\^N1C:EULM\5,LR,SRH_D:G-CF=C/AE1<O7+OK
MU3)%,4\H>2_'Q]UEKKY;=] @.FT[[M3[_P 6OR/M);4]F98;'JO8/6NG=36>
MBNMKJ]3/9/1UD#9H96K24ZX<QR*B]40UNK531?IJIG:=OSED8T1-$Q+-$G ?
MPH25ZW!VT5&CE7/<MKZML&?X))>7'NQ@Q/K')VVZ_P"#T\A;[F9-(Z+TEH*R
MPZ=T7INW62V0=64M!3-AC1?-V&HF57'55RJ^TQ:[E5R>M7.\O6*8IX0Q!QU?
M<G[A_P 1I_I<!E:?]YH_OL>=_P"SEY%;=.<S<72CVKA6W^VJG_\ M1G3W?LZ
MO"?P:ZGUH>T>Y?#ALCO%5-N6XNW5KNU>QO(E=A\%5RIT1JS1.:]43R155$.3
MM95ZQ&UNK:&SJMTU\X<9H'A)X==L[I#?-([66F"Y4Z\T-95+)631.3P<QT[G
M\B^]N%+7,V_=CJU5<$4VJ*>,0R[X&*]'3M4[-;2:XNJWW66V>E[Y<5B;"M7<
M+5!43+&W/*WG>U5PF5PGO4]:+]VW&U%4Q'BK-%-7&8?=H[;?;[;UM6S0FB;'
MIYM>K%JDM=!%3).K,\BOY$3FQS.QGPRI%=VN[Z\S/B13%/*'8_$\UF+=?<+O
M#_N=7ONVM=JK%75\JJLE9'"M-42*OF^2%6.<OO55,FWEW[4;453L\ZK5%7.'
M":<X*>%S2];%<;;L[9IJB%W,QU>^:M:B^7J3O>W^@O5GY-<;37/X(BS;CL9I
MIJ:GHJ>.DI((X((6)'''&Q&M8U$PC41.B(B>2&',[\9>KA=7Z!T1N!1P6[7.
MD;/J"EII>_AAN=%'4LCDY5;SM:]%1'<JJF4\E4O1<KM3O1.R)IBKG#B-.;([
M.:/O$&H=*;6:4L]TI>=(*RAM$$$\?,U6NY7M:BIEJJBX7JBJ7KR+MR.K55,Q
MXHBBF)WB'=)(XYHW12L:]CT5KFN3**B^**>*S''][5P]8Q_</T+CP_Q!2_[A
MD>=W_P".?BIY.CN9 MMNM]GM]-:;5104=%10LIZ:G@C1D<,3$1K6,:G1K41$
M1$3HB(>$S-4[RO$;<(=9U9L_M3KNYMO6M=M],WZO9"VG;57&UPU$J1-551B.
M>U5Y45SEQX=5/2B_=MQM15,1XJS135QF'UZ.VVV]V]2K30FB+%IY*_D6J^"Z
M"*F[_DSR<_(B<V.9V,^&5]I%=VN[Z\S/B13%/*'8SS68EUOPF\.FXEPDNVJ]
MI;%/73*KI:JFC?1RR.7[YSH',5R^]<F5;S;]J-J:IV>=5JBKG#X=+<&G#'HZ
MOBN=FV>LCZJ%>9DE?WM=RKY*B3O>B+[\$UYV1<C::Y_!$6:(Y0S-%%'#&V*)
MC6,8U&M:U,(U$\$1/)#$>KK^L=N- ;A1TL6N]%6/4+*%SWTS;G015*0N>B(Y
M6<Z+RJJ(F<>.$/2B[7:]29CP5FF*N</@TOLSM'HB[-OVCMLM+V2Y,C?"VKM]
MJ@IYD8[',WG8U%PN$RGG@FN_=N1M75,QXD44T\8AW(\EF.ZGATV#K*F6MJ]E
M]$S5$\CII99+%3.<][E5SG*JLRJJJJJK[5/>,J_$;17/Q4\G1W.Z6'3]CTM:
M*73^FK/1VJV43.[IJ.C@;##"W*KRL8U$1J955PB>9Y5537/6JG>5HB(C:%-1
M:9TYJZUR6355AMUXM\JHKZ6OI65$+E3P56/14SU\13751.],[23$3PEC:/A)
MX9XJE:INQNC>=5SZUKC5O\U>G]!D>>Y'+KS\5/)4=S*U)24M!20T-#314]-3
MQMBAAB8C61L:F&M:B=$1$1$1$\,&-,S,[R]&+=<<*?#ON/=I;[K#::QUEQG<
MKYJJ*-]++,Y?%SW0N8KU][LJ9%O,OVHZM%4[/.JU15QF'*[;\/FRVT50^MVZ
MVXLUEJY&JQU7%"LE2K5\6]](KI,+YIS84K=R;U_A<JW33;IH]6'TWW8C974]
MWJK_ *BVETA<[E6O22IJZNS4\LTSL(G,][FJKEPB)E?8A%.3>HCJTU3$>*9H
MIF=YASVF=#Z-T99I-.Z2TK:;-:Y7OE?14%(R"!SWHB/<K&HC<N1$STZE*[E=
MR>M5.\IBF*>$.I)PU</2)A-C]"X1,8^ *7P_F'KYW?\ XY^*ODZ.YD"VVZWV
M>WTUIM5%!1T5%"RGIJ>"-&1PQ,1&M8QJ=&M1$1$1.B(AX3,U3O*\1MPA]"K@
M@:$[@]J++IV[:@TM9-FD=<;375=NAJZN](Z!SX971I(Z-D2.5%5F>5')XXSY
MFZM:1UHBJ:^$^QB596V\1#SRE?<]0WE\K8)*RXW6K<](H8\OGJ)I%7E8U/-S
MWX1$]J(;SA1'LAA\Y>V/#'M)_<2V2TSH&ICC2Y4],M5=',QA]=,JR3=4\4:Y
MW(B^QB')9=[SB]57'+L\&SM4=2F(93,9Z 'X5M%1W*CGMUPI8JFEJHG0SPRL
M1[)(W(J.:YJ]%14545%\44F)F)W@YL>IPU</2(B)L?H5$3HG_<"E_P!P]_.[
M_P#'/Q4\G1W'][7P]?\ D0T+_H"E_P!P>=W_ ..?B>3H[G*639/9W34[:K3V
MU6D;;.Q>9LM+9::-[5]SD9E"M61=KX553/O3%%,<H=T1$3P/%9('!ZPT/H_<
M"S2:>UOIFV7VVRKS.IJ^F9-'S>3D1R+AR9Z*F%]Y>BY7:GK43M*)IBJ-I8GI
MN![A3I:QM=%LQ9G2-=S(V6:HEBS_  3I%9CW8P9,ZADS&W7>?D;?<RG<MO-!
M7C2\>B+KHNQU>GH>1(K5-;XG4D?(O,SEA5O(G*O5,)T,:+M=-77B9W[WI-,3
M&TPX*T;!;(:?NE)?+%M%H^WW&AE;/2U=+9:>*:&1/!['M:BM5/:AZ59-ZJ-J
MJIV\58MTQQB'?3P7=$UIL/LQN+6+<M;[7Z9O-:[XU55VV)T[NF.LF.9?G4]K
M>1=M1M15,*544U<X?IH38_:';*NDN>@-MM/6&MEB6!]30T#(YG1JJ*K%>B<W
M*JM:JIG'1/8+F1=NQM75,IIHIIY0['J;2FF=:6>;3^KM/V^\VRH^RTE?3,GA
M?[%5KT5,IY+XH>=%=5N>M3.TIF(JC:6'V\#G"DVK]-39BS]YS<W*L]2L6?X-
M9>3'NQ@ROK#)VVZ[S\A;[F4UVZT"[2'U .T78UTRL:1+9UH(O0U:CD<B=SR\
MGQD1WAXIGQ,?RM?6Z^\[]Z_5C;;;@Z_0\/.P]LKJ>YVW9O1=+5TDK)X)X;)3
MLDBD8Y'->UR,RUR*B*BIU14+SDWJHVFN?BCR='<R$>"X
M           "%ZI@#3_<7LVMOMQM>ZAU]7[CZGI*G45RGN4T$$-*L<3Y'95K
M5<Q5PGO7)M+6JUVJ(HBF.'BQZL:FJ9G=GG8#9*S\/^W<&W5CO5?=:6"KJ:M*
MBM;&V573/YE3#$1N$\NAA9.1.3<\I5&SUMT1;C:&2#P7
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MKW*J9IZL<?%X1BTQ.^[=1$P:EDI
M     (5,@:6ZI[,';S4^I+MJ23<_5-/-=KA4W"2-M/2N:QTTKI%:W+,X17*B
M9\C;4:M<HIBGJQP\6-.-3,[[LD;'<"NRFR%^@U?117+46H*3+J6NO$K'I2.5
M%3GAB8UK&OPN.=45R>2H>&1J%[(IZD\(]B]%BFB=VQ9@/8
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M
M     ..ONH;'IBA^%-0W6FMU'WK(5J*F1&1->]W*U'.7HW*JB97"95#QOW[6
M-3U[U44QWSRXLK#PLC/N>1Q:)KJVF=HC>=HXSM'.>'<M=:VHBL=9<+3W,T[*
M62:FYO6C>]&*K,X7JU5QX+X&39BFY73$SPF8^##O]>U35M'I1OS[VH_"MQB;
MH[Z[HLT5J33FFJ.@9:ZBOGEH89VRHK%C:U$5\CDQS2)GH=MTAZ,X>D8?G%JJ
MJ9WB..VW'?NB.YQ6@=)<K5LSS>[33$;3/#??A[VXYPSMP
M                @#&VB-R[WJ;>7<G;NNHZ*.W:-;:%HIHFO2:7TNG=))WB
MJY6KA6HB81.GCDVN7@V[&!CY5,SUKG7W[O1G:-FKQ,ZY?SLC&JB-K?5V[_2C
M>=V2C5-H
M                                                 '3-YWVF/:;5
M[[VV-U&EEJ^=)$RBKW3N7I[>;EQ[\&NU>;<8%[RO+JS^#?=%XO3K6+&/OUO*
M4;;>,;_+??V,-\#VK[S?="WG2]VG?40:?JH64CI'<RLAF8JK$GXK7,<J>Q'8
M\$0Y[H7EW;V-79KG?J3&WA,<O=L[KZ6M,Q\34+679C:;L3UO;-,Q&_C,3&_A
MOS83[/G3#K7OQN-SQX^!**:V^'Q5=7*F/U0*??>F61Y33L?_ #3$_P"W^K\P
M=#\?R6HW_P#+$Q_N_H] SYH^C@'R7>ODM=JK+E#;JJX24L$DS:2D1JS3JUJJ
MD<:.5K5<[&$RJ)E4RJ%[=$7*XHF8C>><\H]LJ7*^I1-41,[=D<Y]D,"6;C<V
MNK=PJ7;/4>FM7:2N]34-I'?#U!%3QP3/3,;9%25RM1ZJU&NQR^LU<X7)TEWH
MIF4XLY=JNBY3$;^C,SO';MP['.VNE.'7DQB7::J*IX>E$1MW;\9YMA<YZG,.
ME8)J.+&AI=9Q[?2[(;I)?YHW5$5&EHIE=)3H_D6=J^D<JQ([ISYQ\YT5/1VJ
MJQYS&1;ZG+?K3S[O5Y^QS]72"FF_YM./<Z_/;JQR[_6Y>UG57(C>=WJHB97/
MD<ZW^[#4W$K;]1WROTWLOH:];BU=KD[FNK+=)#36NGD_ =63N1CG>Z-'&^C0
MZK%NF[GW(M15RB=YJG_3''X[-).MTWJZK6#;F[-/.8VBF/\ 5/#X;N"O?%K)
MMO=:2W[Z;/ZGT12U\G=075DL-SH%=[%E@7*+C*X1JNPBK@R+71R,ZB:M.OTW
M)CG'&FKX2Q[O2'S&J*=0LU6XGMX51\89IBU;:KEI)=9Z95VH:&2B=6TB6MS)
M75K4:JHV%5<C5<[&$17(F>BJAH)QZZ+WD+OH3OM._#;Q;V,BBNSY>UZ4;;QM
MQW\&!%XZ]#-U8F@G;5;F-U(LJ0):76B!*OO%;S(WNUGS\7UO9CKX'2?](Y/D
M/.?+6_)_Q=:=OCLYW_JS&\MYMY&YU_X>K&_PW;$62Y2WBST5UFM5;;9*N!DS
MJ.M:UL].KD1>[D1KG-1R9PJ(Y4RGBIS%VB+5<T1,3M/..4^V'2VJYN417,3&
M_9/./%AF_P#%;;=/:Z7;BHV9W-J+Z_O7TM/36JGD]+@C>K5GB7O\+%E/CKA$
MRF<+T-[9Z/5WL;SJ+]N*.&\S5/"9[)]'G[&DO:_19R/-9L7)J[-J8XQWQQY>
MUG""59H(YG0OB5[4<L;\<S55/!<*J93P\3GYC:=F^B=XW87T-Q6Z"U_O9>-E
M;-0UK*NU-JFLN$SH^XJYZ=Z-ECB1JJY<)S*CEQE&.Z&^R^CV3AZ?1GW)C:K;
MAQWB)Y3/]]K1XNOXV7GU8%N)WIWX]DS'.(_OL9L- WK'V\.\%/LY9X[_ '+0
MNJK];DCEEJZFR4D4[*%D:(JNGYY&JQJHJJCD14]5<JG3.STS3)U.OR5%RFFK
MAM%4S&^_=PEK=2U*--M^5KMU54\=YIB)VV[^,,6Z?XW+%JRUR7_2^Q^Z=XM,
M,SH)*V@LT51&Q[417-562KU1'(JI[T-O>Z*7,:OR=[(M4U<]IJF/QAJ+/2FW
MDT>4LX]RJG?;>*8G\)=ZVFXH-I-X[K+IS35WJJ&_0H]S[/=J5U)5X;\;E:N6
MO5OFC7*J8RJ(AK]1T'-TRB+MVF)HG]ZF=X_OQ;'3]=P]1KFU:JVKC]V8VERN
M\N]NG-E+?9ZV_62^7:6_7%MKH:.STS9ZB6=6.<B(QSVYSRXPF5RJ=#PTS2KN
MJU5TVZJ:8IC>9JG:-OA+VU+5+6F4TU7*9JZT[1%,;SOX;PQEJ3CBTAHVCCN&
MKMG=U;)2S2=S'/<;!'3QODPJ\J.?*B*N$5<>Q%-O8Z)W\JKJV+]JJ>Z*M_PA
MJ;_2JQBT]:_8NTQ[:=OS?N_C2T_'8UU-)LANXVT)3>FK7KIQJ4_H_+S=[WG>
M\O)R]>;.,=2L=%KLW/(QD6NMOMMU^._=MMS6_P"I[46_+>;W>KMOOU.&W?OO
MR9=HMQ:.[[9T>YVGM/WF[TMPMD-TI;=1Q1NK962-:Y&-8YZ,YT1W5.?'1<*I
MI*\*JUESB7:HIF)F)F=]N'NWV]S=49M-W%C*MTS5$Q$Q$<^/OVW][#47')HN
M?5SM P[2[G/U*URL=:4LT/I:*C>=<Q]_E/5];/ACKX&]GHGD18\YF_;\G_%U
MIV^.S1QTKQZK_FT6;GE/X>K&_P -VP5ANTMZLE%>*BT5UI?5P-F=15[6-J*=
M53/)(C'.:CD\T1RI[SFKUN+5R:(JBK;MCE/AR=):N3<HBN8F-^R><>+#"<4;
M]77^YV#8_:R_;A-LTRT]=<Z:JIZ&VLE3Q8RHG=B1?R4PJ=4RBHIO?J#S:W3<
MU"]3:ZW&(F)JJV]L1R:/Z]\YN56\"U-WJ\)F)B*?=,\W):#XB:G4.Y;-HM;[
M6Z@T9J6:WR7.GCK)Z>IIYX&+ARLEB<O-USC"8]5<X/+,T6+.)Y[CWJ;EO?:=
MMXF)\)>N)K$WLKS._:JMU[;\=IC;QAF4T3=H7P P3M+]U'OM_!Z9^A2'1:C_
M (1A?^Y_RASVG?XMF_\ M_\ &6=SG70@'YK40-QF:-,^&7(3U9[D;PN0E('S
MS7"@IZNGM\];3QU-4CU@A?*U))4:F7<K57+L(J*N/ M%%4TS5$<(YJS73%44
MS/&7T%5@    4FFAIH9*BHE9%%$U7O>]R-:UJ)E555Z(B)YDQ$U3M")F*8WE
M6EJZ6NIHJVBJ(JBGG8DD4L3T>Q[53*.:Y.BHJ>:$U4S1,TU1M,%-451UJ9WA
M^I5+YI+C015L-MEK:=E74,=)% Z5J22-;CF<UN<JB93*HG3*%HHJFF:XCA':
MK-=,5=69XOI*K   !"N1%1%5,KX(!($(Y'9PJ+A<*!( #A+GK;2-FU!;=*7;
M4ENI+S>$<MOH9JAK9ZI&_&[MB]78PN<&1;Q;]VU5>HHF::><[<(\7A7DV;=R
MFS75$55<H[9\'),N5ODKWVME=3NK(XFS/ITE:LK8U541ZLSE&JJ*B+C'0\>I
M5%/7VX=[UBNF:NKOQ?256?-57*WT,M/!6UU/!)62=S3LEE:QTS\*O*Q%7UEP
MBKA.N$+4T55Q,TQOMS]BM5=-,Q$SS?256
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M-N7ZYYS.WLB.4?!OM)PZ,'#MV*(Y1&_C/.?BYO</06G=S-&W31&J*-M1;[K
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M5U\^9CJ[SQYQ3V>WPCPAR;N)]]LT]IW</56VEVLVA]3U<-+1W:6LADG@;/\
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M>18KQ;M5F[&U5,S$^YN;%^C)M4WK<[TU1O'O<J>+V
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MQMR[O8["8S(
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M7?N57:^=4S,^,MY9M4V+=-JCE3$1'A#D#S>@  C $@0!($8 D   C" 2
M
M   (PB^* ,)[ )   (PGL D   A41?% &$3P0"0 $8\P) C $@1A/8  8 D
M!&  $@1A/8!($83V( QCP D"%\ ,%;3-<G%#OJY6N1'1Z:PJHN%_P*3P4Z+4
M?\(PO_<_Y0Y_3O\ %LS_ -O_ (RSL<ZZ
M
M                                                   "$:B*KD1,
MKXJ!(
M
M
M
M
M
M
M
M
M
M
M
M
M
M
B                                          /_V0$!

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