<SEC-DOCUMENT>0001114448-25-000003.txt : 20251028
<SEC-HEADER>0001114448-25-000003.hdr.sgml : 20251028
<ACCEPTANCE-DATETIME>20251028060700
ACCESSION NUMBER:		0001114448-25-000003
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20250930
FILED AS OF DATE:		20251028
DATE AS OF CHANGE:		20251028

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:		251421191

	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>a251028-6k.htm
<DESCRIPTION>6-K
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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; FONT-SIZE: 18pt; FONT-WEIGHT: bold">UNITED STATES<br> SECURITIES AND EXCHANGE COMMISSION</font></div>

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    Report on Form 6-K dated
    October 28, 2025</font></div>

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

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

  <a href="a251028-99_1.htm">99.1 Financial Report Q3 2025</a>

<br />

 <a href="a251028-99_2.htm">99.2 Condensed Financial Report</a>
    <br />
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    <div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SIGNATURES</font></div>

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

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

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October 28, 2025</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; FONT-SIZE: 10pt">By:</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; font-family:arial,helvetica,sans-serif; FONT-SIZE: 10pt">Head Financial Reporting and Accounting</font></div>
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<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>a251028-99_1.htm
<DESCRIPTION>99.1 FINANCIAL REPORT Q3 2025
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                      <div style="text-align: left; margin-bottom: 2pt; font-family: Arial, Helvetica, sans-serif; font-size: 8pt;">CH-4002 Basel <br>
                        <div>Switzerland</div>
                        <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>
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                    <div style="line-height: 18pt; color: #002068; font-family: Arial; font-size: 14pt; font-weight: bold;">FINANCIAL RESULTS | FINANZERGEBNISSE</div>
                    <div style="line-height: 18pt">&#160;</div>
                    <div style="line-height: 16pt; color: #0460A9; font-family: Arial; font-size: 16pt; font-weight: bold;">Novartis delivers solid sales and core operating income growth with strong pipeline progress in Q3; reaffirms FY 2025 guidance</div>
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                    <div style="line-height: 12pt; font-family: Arial; font-size: 11pt; font-weight: bold;">Ad hoc announcement pursuant to Art. 53 LR</div>
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                              <div style="line-height: 11.4pt; font-size: 11pt; font-weight: bold;">Q3 net sales grew +7% (cc<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>, +8% USD) and core operating income<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup> grew +7% (cc, +6% USD)</div>
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                            </td>
                            <td style="width: auto; vertical-align: top;">
                              <div style="line-height: 11.4pt; padding: 1px 0px 0px; font-size: 11pt;">Sales growth was driven by continued strong execution on priority brands including <font style="font-style: italic;">Kisqali</font> (+68% cc), <font style="font-style: italic;">Kesimpta </font>(+44% cc), <font style="font-style: italic;">Pluvicto</font> (+45% cc) and <font style="font-style: italic;">Scemblix</font> (+95% cc)</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                    <div>
                      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z5d54edea487f4963848ff504b7e96dbb">

                          <tr>
                            <td style="width: 28.8pt; vertical-align: top; text-align: right;">
                              <div style="margin: 0px 0px 0px 14.4pt; line-height: 11.4pt; padding: 0px 0px 5px; font-size: 10pt; text-align: left;">o</div>
                            </td>
                            <td style="width: auto; vertical-align: top;">
                              <div style="line-height: 11.4pt; font-size: 11pt;">Core operating income margin<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup> was stable (cc) at 39.3% despite increasing generic impact</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                    <div>
                      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc992696f065a4292aeaea69af1f3e7fe">

                          <tr>
                            <td style="width: 14.4pt; vertical-align: top; text-align: right; font-size: 12pt;">
                              <div style="line-height: 11.4pt; padding: 0px 0px 5px; font-weight: bold; text-align: left;">&#8226;</div>
                            </td>
                            <td style="width: auto; vertical-align: top;">
                              <div style="line-height: 11.4pt; font-size: 11pt; font-weight: bold;">Q3 operating income grew +27% (cc, +24% USD); net income rose +25% (cc, +23% USD)</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                    <div>
                      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z36e195407ebb472d9b5e00dbb64592ad">

                          <tr>
                            <td style="width: 14.4pt; vertical-align: top; text-align: right;">
                              <div style="line-height: 11.4pt; padding: 0px 0px 5px; font-size: 12pt; font-weight: bold; text-align: left;">&#8226;</div>
                            </td>
                            <td style="width: auto; vertical-align: top;">
                              <div style="line-height: 11.4pt; font-size: 11pt; font-weight: bold;">Q3 core EPS<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup> grew +10% (cc, +9% USD) to USD 2.25</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                    <div>
                      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb919fc80e9fd465f892bdf84d4917ef6">

                          <tr>
                            <td style="width: 14.4pt; vertical-align: top; text-align: right;">
                              <div style="line-height: 11.4pt; padding: 0px 0px 5px; font-size: 12pt; font-weight: bold; text-align: left;">&#8226;</div>
                            </td>
                            <td style="width: auto; vertical-align: top;">
                              <div style="line-height: 11.4pt; font-size: 11pt;"><font style="font-weight: bold;">Q3 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;"> was USD 6.2 billion (+4% USD) </font>driven
                                by higher net cash flows from operating activities</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                    <div>
                      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z780e5db7c9b140a593c60108703ae341">

                          <tr>
                            <td style="width: 14.4pt; vertical-align: top; text-align: right;">
                              <div style="line-height: 11.4pt; padding: 0px 0px 5px; font-size: 12pt; font-weight: bold; text-align: left;">&#8226;</div>
                            </td>
                            <td style="width: auto; vertical-align: top;">
                              <div style="line-height: 11.4pt; font-size: 11pt; font-weight: bold;">Strong nine months performance with net sales up +11% (cc, +11% USD) and core operating income up +18% (cc, +16% USD)</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                    <div>
                      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z94f2e7d387f24a01a5388505d5439b4a">

                          <tr>
                            <td style="width: 14.4pt; vertical-align: top; text-align: right;">
                              <div style="line-height: 11.4pt; padding: 0px 0px 5px; font-size: 12pt; font-weight: bold; text-align: left;">&#8226;</div>
                            </td>
                            <td style="width: auto; vertical-align: top;">
                              <div style="line-height: 11.4pt; font-size: 11pt; font-weight: bold;">Q3 selected innovation milestones:</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                    <div>
                      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb2c42be0c5ad4e0abba96a1f349ff7fd">

                          <tr>
                            <td style="width: 28.8pt; vertical-align: top; text-align: right;">
                              <div style="margin: 0px 0px 0px 14.4pt; line-height: 11.4pt; padding: 0px 0px 5px; font-size: 10pt; text-align: left;">o</div>
                            </td>
                            <td style="width: auto; vertical-align: top;">
                              <div style="line-height: 11.4pt; padding: 1px 0px 0px; font-size: 11pt;"><font style="font-weight: bold; font-style: italic;">Rhapsido</font><font style="font-weight: bold;">&#160;</font>FDA approval as the only oral, targeted BTK
                                inhibitor for CSU</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                    <div>
                      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z38e557ff79dc48f6ae20eff55b9a785d">

                          <tr>
                            <td style="width: 28.8pt; vertical-align: top; text-align: right; font-weight: normal;">
                              <div style="margin: 0px 0px 0px 14.4pt; line-height: 11.4pt; padding: 0px 0px 5px; font-size: 10pt; text-align: left;">o</div>
                            </td>
                            <td style="width: auto; vertical-align: top;">
                              <div style="line-height: 11.4pt; font-size: 11pt;"><font style="font-weight: bold;">Ianalumab</font> positive replicate Phase III readouts in Sjogren&#8217;s disease</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                    <div>
                      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8633aa80dacc4d9e8b49dd865f9c0607">

                          <tr>
                            <td style="width: 28.8pt; vertical-align: top; text-align: right;">
                              <div style="margin: 0px 0px 0px 14.4pt; line-height: 11.4pt; padding: 0px 0px 5px; font-size: 10pt; text-align: left;">o</div>
                            </td>
                            <td style="width: auto; vertical-align: top;">
                              <div style="line-height: 11.4pt; font-size: 11pt;"><font style="font-weight: bold; font-style: italic;">Pluvicto</font><font style="color: #000000;"> positive Phase III PSMAddition data at ESMO</font></div>
                            </td>
                          </tr>

                      </table>
                    </div>
                    <div>
                      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z7b3e00c822d4404898679132911adf94">

                          <tr>
                            <td style="width: 28.8pt; vertical-align: top; text-align: right; font-size: 10pt;">
                              <div style="margin: 0px 0px 0px 14.4pt; line-height: 11.4pt; padding: 0px 0px 5px; text-align: left;">o</div>
                            </td>
                            <td style="width: auto; vertical-align: top;">
                              <div style="line-height: 11.4pt; font-size: 11pt;"><font style="font-weight: bold; font-style: italic;">Scemblix </font>positive CHMP opinion for <font style="color: #000000;">all lines of CML treatment</font></div>
                            </td>
                          </tr>

                      </table>
                    </div>
                    <div>
                      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z29ef8a98e5ed499aabfc481dc9b06832">

                          <tr>
                            <td style="width: 28.8pt; vertical-align: top; text-align: right;">
                              <div style="margin: 0px 0px 0px 14.4pt; line-height: 11.4pt; padding: 0px 0px 5px; font-size: 10pt; text-align: left;">o</div>
                            </td>
                            <td style="width: auto; vertical-align: top;">
                              <div style="line-height: 11.4pt; font-size: 11pt;"><font style="font-weight: bold; font-style: italic;">Cosentyx </font>positive Phase III readout in PMR</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                    <div>
                      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze9185ee7ab6f44e0bff6c2d3bd557d41">

                          <tr>
                            <td style="width: 28.8pt; vertical-align: top; text-align: right;">
                              <div style="margin: 0px 0px 0px 14.4pt; line-height: 11.4pt; padding: 0px 0px 5px; font-size: 10pt; text-align: left;">o</div>
                            </td>
                            <td style="width: auto; vertical-align: top;">
                              <div style="line-height: 11.4pt; font-size: 11pt;"><font style="font-weight: bold; font-style: italic;">Fabhalta </font>positive Phase III eGFR readout in IgA nephropathy</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                    <div>
                      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zad5e9d613d2b442085d3881474949d3f">

                          <tr>
                            <td style="width: 14.4pt; vertical-align: top; text-align: right;">
                              <div style="line-height: 11.4pt; padding: 0px 0px 5px; font-size: 12pt; font-weight: bold; text-align: left;">&#8226;</div>
                            </td>
                            <td style="width: auto; vertical-align: top;">
                              <div style="line-height: 11.4pt; font-size: 11pt; font-weight: bold;">Full-year 2025 guidance<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup> reaffirmed</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                    <div>
                      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd86bbf3b5f054e428934a5062721befc">

                          <tr>
                            <td style="width: 28.8pt; vertical-align: top; text-align: right;">
                              <div style="margin: 0px 0px 0px 14.4pt; line-height: 11.4pt; padding: 0px 0px 5px; font-size: 10pt; text-align: left;">o</div>
                            </td>
                            <td style="width: auto; vertical-align: top;">
                              <div style="line-height: 11.4pt; font-size: 11pt;">Sales expected to grow high single-digit</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                    <div>
                      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z22ff39fd7eb14a9c91bfbdbcc601922a">

                          <tr>
                            <td style="width: 28.8pt; vertical-align: top; text-align: right;">
                              <div style="margin: 0px 0px 0px 14.4pt; line-height: 11.4pt; padding: 0px 0px 5px; font-size: 10pt; text-align: left;">o</div>
                            </td>
                            <td style="width: auto; vertical-align: top;">
                              <div style="line-height: 11.4pt; font-size: 11pt;">Core operating income expected to grow low-teens</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, October 28, 2025 </font>&#8211; Commenting on Q3 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 delivered solid financial performance in Q3, more than offsetting the impact of increasing generic erosion in the US. Our
                        key growth drivers performed well, including </font>Kisqali, Kesimpta, Pluvicto<font style="font-style: italic;"> and </font>Scemblix<font style="font-style: italic;">. Importantly, we achieved FDA approval for </font>Rhapsido<font style="font-style: italic;"> in CSU and positive Phase III readouts for ianalumab in Sjogren&#8217;s disease &#8211; two assets with pipeline-in-a-pill potential that could underpin our growth through 2030 and beyond. In addition, we completed
                        several deals in the quarter to further strengthen our pipeline in core therapeutic areas. We remain well on track to achieve our guidance for 2025 and over the mid-term."</font></div>
                    <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                    </div>
                    <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" id="z7dc5481ef281481089ed8e2438ae692f">

                        <tr>
                          <td style="vertical-align: middle; white-space: nowrap; width: 24%; padding: 3px 0px 0px;">
                            <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Key figures</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">&#160;</td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">&#160;</td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">&#160;</td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">&#160;</td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 2%; padding: 3px 0px 0px;">&#160;</td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">&#160;</td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">&#160;</td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">&#160;</td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 3px 0px 0px;">&#160;</td>
                        </tr>
                        <tr>
                          <td style="vertical-align: bottom; white-space: nowrap; width: 24%; padding: 2px 0px 0px;"><font style="font-size: 8pt;">&#160;</font><br>
                          </td>
                          <td style="vertical-align: bottom; width: 9%; padding: 2px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Q3 2025</div>
                          </td>
                          <td style="vertical-align: bottom; width: 9%; padding: 2px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">Q3 2024</div>
                          </td>
                          <td colspan="2" rowspan="1" style="vertical-align: bottom; width: 9%; padding: 2px 0px 0px 20px;">
                            <div style="text-align: center; line-height: 9.1pt; color: #000000; font-size: 8pt;">% change</div>
                          </td>
                          <td style="vertical-align: bottom; width: 2%; padding: 2px 0px 0px; font-size: 8pt;">&#160;</td>
                          <td style="vertical-align: bottom; width: 9%; padding: 2px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">9M 2025</div>
                          </td>
                          <td style="vertical-align: bottom; width: 9%; padding: 2px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">9M 2024</div>
                          </td>
                          <td colspan="2" rowspan="1" style="vertical-align: bottom; width: 9%; padding: 2px 0px 0px 20px;">
                            <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: 24%; padding: 3px 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: 9%; padding: 3px 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: 9%; padding: 3px 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: 9%; padding: 3px 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: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">cc</div>
                          </td>
                          <td style="border-bottom: 2px solid; vertical-align: bottom; width: 2%; padding: 3px 0px 0px;">
                            <div style="text-align: right; 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: 9%; padding: 3px 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: 9%; padding: 3px 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: 9%; padding: 3px 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: 9%; padding: 3px 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">cc</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; width: 24%; padding: 3px 0px 0px 3px;">
                            <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Net sales</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">13 909</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">12 823</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">8</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">7</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 2%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">&#160;</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">41 196</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">37 164</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">11</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">11</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; width: 24%; padding: 3px 0px 0px 3px;">
                            <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: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">4 501</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">3 627</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">24</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <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: 2%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">&#160;</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">14 028</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">11 014</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <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: 9%; padding: 3px 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">31</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; width: 24%; padding: 3px 0px 0px 3px;">
                            <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: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">3 930</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">3 185</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <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: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">25</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 2%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">&#160;</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">11 563</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">9 119</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <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: 9%; padding: 3px 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">29</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; width: 24%; padding: 3px 0px 0px 3px;">
                            <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: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">2.04</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">1.58</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">29</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">31</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 2%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">&#160;</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">5.94</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">4.50</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">32</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">35</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; width: 24%; padding: 2px 0px 0px 3px;">
                            <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: 9%; padding: 2px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">6 217</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 2px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">5 965</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 2px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">4</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 2px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">&#160;<br>
                            </div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 2%; padding: 2px 0px 0px; font-size: 8pt;">&#160;<br>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 2px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">15 941</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 2px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">12 618</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 2px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">26</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 2px 3px 0px 0px; font-size: 8pt;"><br>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; width: 24%; padding: 3px 0px 0px 3px;">
                            <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: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">5 460</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">5 145</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">6</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">7</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 2%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">&#160;</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">16 960</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">14 635</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">16</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">18</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; width: 24%; padding: 3px 0px 0px 3px;">
                            <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: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">4 330</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">4 133</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">5</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">6</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 2%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">&#160;</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">13 522</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">11 822</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">14</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">17</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; width: 24%; padding: 3px 0px 0px 3px;">
                            <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: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">2.25</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">2.06</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">9</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">10</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 2%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">&#160;</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">6.94</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">5.83</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">19</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; white-space: nowrap; width: 9%; padding: 3px 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">21</div>
                          </td>
                        </tr>

                    </table>
                    <div style="line-height: 17pt;"><font style="font-size: 14pt; font-family: Arial; font-weight: bold;"> <br>
                      </font></div>
                    <font style="font-size: 14pt; font-family: Arial; font-weight: bold;"> </font>
                    <div style="line-height: 17pt;"><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 42 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 7.</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><font style="font-size: 14pt; font-family: Arial; font-weight: bold;"> <br>
                    </font><br>
                    <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" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zf98df4daf99c4040b155e68cf9201f69">

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

                      </table>
                    </div>
                    <div>
                      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb2bc86e7ee3f4a43aa9bd34d94cc7fae">

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

                      </table>
                    </div>
                    <div>
                      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zccc77f01a8264e15b8d1a551d8cb9e42">

                          <tr>
                            <td style="width: 18pt; vertical-align: top; text-align: right;">
                              <div style="line-height: 12pt; padding: 0px 0px 5px; font-size: 11pt; text-align: left;">3.</div>
                            </td>
                            <td style="width: auto; vertical-align: top;">
                              <div style="line-height: 12pt; 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; 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; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;">Third quarter</div>
                    <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                    </div>
                    <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Net sales were USD 13.9 billion (+8%, +7% cc), with volume contributing 16 percentage points to growth. Generic competition had a negative impact of 7
                      percentage points, driven by <font style="font-style: italic;">Promacta</font>, <font style="font-style: italic;">Tasigna</font> and <font style="font-style: italic;">Entresto</font> generics in the US. Pricing had a negative
                      impact of 2 percentage points, driven by revenue deduction adjustments mainly in the US. Currency had a positive impact of 1 percentage point.</div>
                    <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                    </div>
                    <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Operating income was USD 4.5 billion (+24%, +27% cc), mainly driven by higher net sales and lower impairments, partly offset by higher R&amp;D
                      investments.</div>
                    <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                    </div>
                    <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Net income was USD 3.9 billion (+23%, +25% cc), mainly driven by higher operating income. EPS was USD 2.04 (+29%, +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; color: #000000; font-family: Arial; font-size: 11pt;">Core operating income was USD 5.5 billion (+6%, +7% cc), mainly driven by higher net sales, partly offset by higher R&amp;D investments. Core operating
                      income margin was 39.3% of net sales (-0.8 percentage points, stable in cc).</div>
                    <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                    </div>
                    <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Core net income was USD 4.3 billion (+5%, +6% cc), mainly due to higher core operating income, partly offset by other core financial income and
                      expense. Core EPS was USD 2.25 (+9%, +10% cc), benefiting from the lower weighted average number of shares outstanding.</div>
                    <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                    </div>
                    <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Free cash flow amounted to USD 6.2 billion (+4% USD), compared with USD 6.0 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;">Nine months</div>
                    <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                    </div>
                    <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Net sales were USD 41.2 billion (+11%, +11% cc), with volume contributing 14 percentage points to growth. Generic competition had a negative impact of
                      3 percentage points, while pricing and currency had no 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;">Operating income was USD 14.0 billion (+27%, +31% cc), mainly driven by higher net sales and lower impairments, partly offset by higher investments
                      behind priority brands and launches.</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;"><br style="line-height: 12pt;">
                    </div>
                    <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                      <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><br>
                    </div>
                    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 13pt; margin-bottom: 13pt;">
                      <div class="BRPFPageFooter">
                        <div style="text-align: center; line-height: 9.1pt; font-family: Arial; font-size: 8pt;"></div>
                        <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
                        </div>
                      </div>
                      <div class="BRPFPageBreak" style="page-break-after: always;">
                        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
                      <div id="BRPFPageHeader">
                        <div></div>
                      </div>
                    </div>
                    <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                    </div>
                    <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Net income was USD 11.6 billion (+27%, +29% cc), mainly driven by higher operating income. EPS was USD 5.94 (+32%, +35% cc), benefiting from the lower
                      weighted average number of shares outstanding.</div>
                    <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                    </div>
                    <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Core operating income was USD 17.0 billion (+16%, +18% cc), mainly driven by higher net sales, partly offset by higher investments behind priority
                      brands and launches. Core operating income margin was 41.2% of net sales, increasing 1.8 percentage points (2.5 percentage points cc).</div>
                    <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                    </div>
                    <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Core net income was USD 13.5 billion (+14%, +17% cc), mainly due to higher core operating income. Core EPS was USD 6.94 (+19%, +21% cc), benefiting
                      from the lower weighted average number of shares outstanding.</div>
                    <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                    </div>
                    <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Free cash flow amounted to USD 15.9 billion (+26% USD), compared with USD 12.6 billion in the prior-year period, 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;">Q3 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 Q3 growth) including:</div>
                    <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                    </div>
                    <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" id="zd027062f6ab6432c93f5049fd55832bf">

                        <tr>
                          <td style="border-bottom: 1px solid #000000; border-top: 1px solid #000000; vertical-align: top; width: 21.5%; padding: 5px 2px 3px;">
                            <div style="line-height: 12pt; font-size: 11pt; font-style: italic; font-weight: bold;">Kisqali</div>
                          </td>
                          <td style="border-bottom: 1px solid #000000; border-top: 1px solid #000000; vertical-align: top; width: 78.5%; padding: 5px 2px 3px;">
                            <div style="line-height: 12pt; font-size: 11pt;">(USD 1 329 million, +68% cc) sales grew strongly across all regions, including +91% growth in the US with strong momentum from the recently launched early 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: 21.5%; padding: 5px 2px 3px;">
                            <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: 78.5%; padding: 5px 2px 3px;">
                            <div style="line-height: 12pt; color: #000000; font-size: 11pt;">(USD 1 222 million, +44% 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: 21.5%; padding: 5px 2px 3px;">
                            <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: 78.5%; padding: 5px 2px 3px;">
                            <div style="line-height: 12pt; font-size: 11pt;">(USD 564 million, +45% cc) showed sustained demand growth in the US following the pre-taxane metastatic castration-resistant prostate cancer (mCRPC) approval, as well as continued
                              access expansion ex-US in the post-taxane mCRPC setting, with 25 countries now approved including Japan.</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 21.5%; padding: 5px 2px 3px;">
                            <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: 78.5%; padding: 5px 2px 3px;">
                            <div style="line-height: 12pt; font-size: 11pt;">(USD 358 million, +95% cc) sales grew across all regions, demonstrating the continued high unmet need in CML, with strong momentum from the early-line indication in the US and
                              Japan.</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 21.5%; padding: 5px 2px 3px;">
                            <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: 78.5%; padding: 5px 2px 3px;">
                            <div style="line-height: 12pt; font-size: 11pt;">(USD 308 million, +54% cc) continued steady growth across all regions, 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: 21.5%; padding: 5px 2px 3px;">
                            <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: 78.5%; padding: 5px 2px 3px;">
                            <div style="line-height: 12pt; font-size: 11pt;">(USD 149 million, +236% cc) sales grew, reflecting market share gains in PNH globally and continued launch progress in IgAN and C3G in the US.</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 21.5%; padding: 5px 2px 3px;">
                            <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: 78.5%; padding: 5px 2px 3px;">
                            <div style="line-height: 12pt; font-size: 11pt;">(USD 213 million, +11% cc) sales grew mainly in the US, Japan and Europe due to increased demand and earlier-line adoption.</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 21.5%; padding: 5px 2px 3px;">
                            <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: 78.5%; padding: 5px 2px 3px;">
                            <div style="line-height: 12pt; font-size: 11pt;">(USD 1 698 million, -1% cc) sales were broadly stable, as strong volume growth in the US was partially offset by higher revenue deductions, and ex-US declined due to a one-time
                              price effect in the prior year. Novartis remains confident in <font style="font-style: italic;">Cosentyx</font> USD 8 billion+ peak sales guidance.</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 21.5%; padding: 5px 2px 3px;">
                            <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: 78.5%; padding: 5px 2px 3px;">
                            <div style="line-height: 12pt; font-size: 11pt;">(USD 301 million, -5% cc) sales declined reflecting a lower incidence of SMA compared to prior year.</div>
                          </td>
                        </tr>

                    </table>
                    <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>
                    <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>
                    <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>
                    <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;">
                      <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><br>
                    </div>
                    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 13pt; margin-bottom: 13pt;">
                      <div class="BRPFPageFooter">
                        <div style="text-align: center; line-height: 9.1pt; font-family: Arial; font-size: 8pt;"></div>
                        <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
                        </div>
                      </div>
                      <div class="BRPFPageBreak" style="page-break-after: always;">
                        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
                      <div id="BRPFPageHeader">
                        <div></div>
                      </div>
                    </div>
                    <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                    </div>
                    <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                    </div>
                    <div style="line-height: 12.3pt">&#160;</div>
                    <div style="line-height: 12pt; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;">Net sales of the top 20 brands in the third quarter and nine months</div>
                    <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                    </div>
                    <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" id="z98d9a4912cbd41c7924b765e3ed158a5">

                        <tr>
                          <td style="vertical-align: top; white-space: nowrap; width: 31%; padding: 1px 2px 5px;">&#160;</td>
                          <td style="vertical-align: bottom; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; font-size: 11pt; font-weight: bold;">Q3 2025</div>
                          </td>
                          <td colspan="2" rowspan="1" style="vertical-align: bottom; white-space: nowrap; width: 11%; padding: 1px 2px 5px 30px; text-align: center;">
                            <div style="line-height: 13.1pt; padding: 0px 0px 0px 10px; font-size: 11pt;">% change</div>
                          </td>
                          <td style="vertical-align: top; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; font-size: 11pt; font-weight: bold;">9M 2025</div>
                          </td>
                          <td colspan="2" rowspan="1" style="vertical-align: top; width: 11%; padding: 1px 2px 5px 30px;">
                            <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: 31%; padding: 1px 2px 5px;">&#160;</td>
                          <td style="border-bottom: 2px solid; vertical-align: bottom; width: 11%; padding: 1px 2px 5px;">
                            <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: 11%; padding: 1px 2px 5px;">
                            <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: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">cc</div>
                          </td>
                          <td style="border-bottom: 2px solid; vertical-align: top; width: 11%; padding: 1px 2px 5px;">
                            <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: top; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">USD</div>
                          </td>
                          <td style="border-bottom: 2px solid; vertical-align: top; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">cc</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 31%; padding: 1px 2px 5px;">
                            <div style="line-height: 13.1pt; color: #000000; font-size: 11pt; font-style: italic;">Entresto</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">1 877</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">1</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">-1</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">6 495</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">15</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">15</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 31%; padding: 1px 2px 5px;">
                            <div style="line-height: 13.1pt; color: #000000; font-size: 11pt; font-style: italic;">Cosentyx</div>
                            <div style="line-height: 11.8pt; font-size: 11pt; font-style: italic;">- excl. revenue deduction adjust.*</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">1 698</div>
                            <div style="line-height: 13.1pt;"><font style="line-height: 13.1pt;">&#160;</font></div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">0</div>
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">5</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">-1</div>
                            <div style="text-align: right; line-height: 13.1pt; font-size: 11pt;">4</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">4 861</div>
                            <div style="line-height: 13.1pt;"><font style="line-height: 13.1pt;">&#160;</font></div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">7</div>
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">9</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">7</div>
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">9</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 31%; padding: 1px 2px 5px;">
                            <div style="line-height: 13.1pt; color: #000000; font-size: 11pt; font-style: italic;">Kisqali</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">1 329</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">69</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">68</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">3 462</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">62</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">63</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 31%; padding: 1px 2px 5px;">
                            <div style="line-height: 13.1pt; color: #000000; font-size: 11pt; font-style: italic;">Kesimpta</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">1 222</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">46</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">44</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">3 198</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">41</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">40</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 31%; padding: 1px 2px 5px;">
                            <div style="line-height: 13.1pt; color: #000000; font-size: 11pt; font-style: italic;">Tafinlar + Mekinist</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;550</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">3</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">1</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">1 675</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">9</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">9</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 31%; padding: 1px 2px 5px;">
                            <div style="line-height: 13.1pt; color: #000000; font-size: 11pt; font-style: italic;">Jakavi</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;539</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">8</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">4</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">1 555</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">7</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">6</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 31%; padding: 1px 2px 5px;">
                            <div style="line-height: 13.1pt; color: #000000; font-size: 11pt; font-style: italic;">Promacta/Revolade</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;362</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">-36</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">-38</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">1 410</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">-14</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">-14</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 31%; padding: 1px 2px 5px;">
                            <div style="line-height: 13.1pt; color: #000000; font-size: 11pt; font-style: italic;">Pluvicto</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;564</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">46</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">45</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">1 389</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">33</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">33</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 31%; padding: 1px 2px 5px;">
                            <div style="line-height: 13.1pt; color: #000000; font-size: 11pt; font-style: italic;">Ilaris</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;473</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">27</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">26</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">1 369</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">25</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">24</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 31%; padding: 1px 2px 5px;">
                            <div style="line-height: 13.1pt; color: #000000; font-size: 11pt; font-style: italic;">Xolair</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;440</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">5</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">3</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">1 339</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">8</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">8</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 31%; padding: 1px 2px 5px;">
                            <div style="line-height: 13.1pt; color: #000000; font-size: 11pt; font-style: italic;">Tasigna</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;221</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">-47</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">-48</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;925</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">-27</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">-26</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 31%; padding: 1px 2px 5px;">
                            <div style="line-height: 13.1pt; color: #000000; font-size: 11pt; font-style: italic;">Zolgensma</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;301</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">-2</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">-5</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;925</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">-3</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">-4</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 31%; padding: 1px 2px 5px;">
                            <div style="line-height: 13.1pt; color: #000000; font-size: 11pt;"><font style="font-style: italic;">Sandostatin </font>Group</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;302</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">-1</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">-1</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;922</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">-5</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">-5</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 31%; padding: 1px 2px 5px;">
                            <div style="line-height: 13.1pt; color: #000000; font-size: 11pt; font-style: italic;">Scemblix</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;358</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">97</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">95</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;894</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">85</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">84</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 31%; padding: 1px 2px 5px;">
                            <div style="line-height: 13.1pt; color: #000000; font-size: 11pt; font-style: italic;">Leqvio</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;308</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">56</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">54</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;863</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">63</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">61</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 31%; padding: 1px 2px 5px;">
                            <div style="line-height: 13.1pt; color: #000000; font-size: 11pt; font-style: italic;">Lutathera</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;213</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">12</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">11</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;613</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">15</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">14</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 31%; padding: 1px 2px 5px;">
                            <div style="line-height: 13.1pt; color: #000000; font-size: 11pt;"><font style="font-style: italic;">Exforge </font>Group</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;176</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">1</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">0</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <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 solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">0</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">2</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 31%; padding: 1px 2px 5px;">
                            <div style="line-height: 13.1pt; color: #000000; font-size: 11pt; font-style: italic;">Lucentis</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;148</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">-40</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">-42</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;510</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">-39</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">-39</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 31%; padding: 1px 2px 5px;">
                            <div style="line-height: 13.1pt; color: #000000; font-size: 11pt;"><font style="font-style: italic;">Diovan </font>Group</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;143</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">-5</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">-5</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;447</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">-1</div>
                          </td>
                          <td style="border-bottom: 1px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">0</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 2px solid; vertical-align: middle; white-space: nowrap; width: 31%; padding: 1px 2px 5px;">
                            <div style="line-height: 13.1pt; color: #000000; font-size: 11pt;"><font style="font-style: italic;">Galvus </font>Group</div>
                          </td>
                          <td style="border-bottom: 2px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;126</div>
                          </td>
                          <td style="border-bottom: 2px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">-21</div>
                          </td>
                          <td style="border-bottom: 2px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">-20</div>
                          </td>
                          <td style="border-bottom: 2px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">&#160;373</div>
                          </td>
                          <td style="border-bottom: 2px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">-19</div>
                          </td>
                          <td style="border-bottom: 2px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">-16</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 2px solid; vertical-align: middle; white-space: nowrap; width: 31%; padding: 1px 2px 5px;">
                            <div style="line-height: 13.1pt; font-size: 11pt;">Top 20 brands total</div>
                          </td>
                          <td style="border-bottom: 2px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">11 350</div>
                          </td>
                          <td style="border-bottom: 2px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">10</div>
                          </td>
                          <td style="border-bottom: 2px solid; vertical-align: middle; white-space: nowrap; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">9</div>
                          </td>
                          <td style="border-bottom: 2px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt; font-weight: bold;">33 771</div>
                          </td>
                          <td style="border-bottom: 2px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">14</div>
                          </td>
                          <td style="border-bottom: 2px solid; vertical-align: middle; width: 11%; padding: 1px 2px 5px;">
                            <div style="text-align: right; line-height: 13.1pt; color: #000000; font-size: 11pt;">14</div>
                          </td>
                        </tr>

                    </table>
                    <div style="line-height: 12pt; padding: 2px 0px 0px; color: rgb(0, 0, 0); font-family: Arial;">*Sales growth impacted by a one-time revenue deduction adjustment in the US</div>
                    <div style="line-height: 14pt;"><br style="line-height: 14pt;">
                    </div>
                    <div style="line-height: 14pt;"><br style="line-height: 14pt;">
                    </div>
                    <div style="line-height: 17pt; font-family: Arial; font-size: 14pt; font-weight: bold;">R&amp;D update - key developments from the third quarter</div>
                    <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                    </div>
                    <div style="line-height: 12pt; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;">New approvals</div>
                    <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" id="z87434861dd12490d81869c4129f42680">

                        <tr>
                          <td style="border-bottom: 1px solid #000000; border-top: 1px solid #000000; vertical-align: top; width: 19.32%; padding: 5px 2px 3px;">
                            <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-style: italic; font-weight: bold;">Rhapsido</div>
                            <div style="line-height: 12pt; color: #000000; font-size: 11pt;">(remibrutinib)</div>
                          </td>
                          <td style="border-bottom: 1px solid #000000; border-top: 1px solid #000000; vertical-align: top; width: 80.68%; padding: 5px 2px 3px;">
                            <div style="line-height: 12pt; color: #000000; font-size: 11pt;"><font style="font-style: italic;">Rhapsido </font>was approved by the FDA as an oral treatment for adult patients with chronic spontaneous urticaria (CSU) who
                              remain symptomatic despite H1 antihistamine treatment. It is the first FDA-approved Bruton&#8217;s tyrosine kinase inhibitor (BTKi) for CSU. Remibrutinib is also in Phase III development for chronic inducible urticaria, hidradenitis
                              suppurativa and food allergy, as well as multiple sclerosis and myasthenia gravis.</div>
                          </td>
                        </tr>

                    </table>
                    <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                    </div>
                    <div style="line-height: 12.3pt; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;">Regulatory updates</div>
                    <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" id="z5741b89811f2498ba714ae8c2b1ba225">

                        <tr>
                          <td style="border-bottom: 1px solid #000000; border-top: 1px solid #000000; vertical-align: top; width: 19.32%; padding: 5px 2px 3px;">
                            <div style="line-height: 12pt; color: #000000; font-size: 11pt;"><font style="font-weight: bold; font-style: italic;">Scemblix </font>(asciminib)</div>
                          </td>
                          <td style="border-bottom: 1px solid #000000; border-top: 1px solid #000000; vertical-align: top; width: 80.68%; padding: 5px 2px 3px;">
                            <div style="line-height: 12pt; color: #000000; font-size: 11pt;">The CHMP of the EMA adopted a positive opinion and recommended granting marketing authorization for&#160;<font style="font-style: italic;">Scemblix&#160;</font>for the
                              treatment of adult patients with Philadelphia chromosome-positive chronic myeloid leukemia in chronic phase (Ph+ CML-CP) in all lines of treatment.</div>
                          </td>
                        </tr>

                    </table>
                    <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                    </div>
                    <div style="line-height: 12.3pt;"><br style="line-height: 12.3pt;">
                    </div>
                    <div style="line-height: 12.3pt;"><br style="line-height: 12.3pt;">
                    </div>
                    <div style="line-height: 12.3pt;"><br style="line-height: 12.3pt;">
                    </div>
                    <div style="line-height: 12.3pt;"><br style="line-height: 12.3pt;">
                    </div>
                    <div style="line-height: 12.3pt;">
                      <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: 12.3pt;"><br style="line-height: 12.3pt;">
                    </div>
                    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 13pt; margin-bottom: 13pt;">
                      <div class="BRPFPageFooter">
                        <div style="text-align: center; line-height: 9.1pt; font-family: Arial; font-size: 8pt;"></div>
                        <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
                        </div>
                      </div>
                      <div class="BRPFPageBreak" style="page-break-after: always;">
                        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
                      <div id="BRPFPageHeader">
                        <div></div>
                      </div>
                    </div>
                    <div style="line-height: 12.3pt;"><br style="line-height: 12.3pt;">
                    </div>
                    <div style="line-height: 12.3pt;"><br style="line-height: 12.3pt;">
                    </div>
                    <div style="line-height: 12.3pt;"><br style="line-height: 12.3pt;">
                    </div>
                    <div style="line-height: 12.3pt">&#160;</div>
                    <div style="line-height: 12pt; padding: 0px 0px 3px; color: #0460A9; font-family: Arial; font-size: 11pt; font-weight: bold;">Results from ongoing trials and other highlights</div>
                    <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" id="zbac8822a18644f97882c4d1ba7f28584">

                        <tr>
                          <td style="border-bottom: 1px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0); vertical-align: top; width: 19.32%; padding: 5px 2px 3px;">
                            <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-weight: bold;">Ianalumab</div>
                            <div style="line-height: 12pt; color: #000000; font-size: 11pt;">(VAY736)</div>
                          </td>
                          <td style="border-bottom: 1px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0); vertical-align: top; width: 80.68%; padding: 5px 2px 3px;">
                            <div style="line-height: 12pt; color: #000000; font-size: 11pt;">The Phase III NEPTUNUS-1 and -2 trials evaluating ianalumab in adults with active Sj&#246;gren&#8217;s disease met their primary endpoint, showing statistically significant
                              improvements in disease activity as measured by a reduction in ESSDAI compared to placebo. Ianalumab was well tolerated and demonstrated a favorable safety profile, supporting its potential to become the first targeted
                              treatment for this chronic autoimmune disease. Novartis plans to submit ianalumab to health authorities globally and was granted Fast Track Designation by the FDA.</div>
                            <div style="line-height: 12pt;"><font style="line-height: 12pt;">&#160;</font></div>
                            <div style="line-height: 12pt; color: #000000; font-size: 11pt;">In the Phase III VAYHIT2 trial, ianalumab plus eltrombopag significantly extended the time to treatment failure compared to placebo plus eltrombopag in adult
                              patients with primary immune thrombocytopenia (ITP), previously treated with corticosteroids. The safety profile was consistent with previous studies. Data will be presented at an upcoming medical meeting and included in
                              regulatory submissions in 2027.</div>
                            <div style="line-height: 12pt;"><font style="line-height: 12pt;">&#160;</font></div>
                            <div style="line-height: 12pt; color: #000000; font-size: 11pt;">Ianalumab is also in Phase III development for systemic lupus erythematosus, lupus nephritis and warm autoimmune hemolytic anemia.</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: 19.32%; padding: 5px 2px 3px;">
                            <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</div>
                            <div style="line-height: 12pt; color: #000000; font-size: 11pt;">vipivotide</div>
                            <div style="line-height: 12pt; color: #000000; font-size: 11pt;">tetraxetan)</div>
                          </td>
                          <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: 80.68%; padding: 5px 2px 3px;">
                            <div style="line-height: 12pt; color: #000000; font-size: 11pt;">In the Phase III PSMAddition trial, <font style="font-style: italic;">Pluvicto </font>plus standard-of-care (SoC) reduced risk of progression or death by 28%
                              versus SoC alone, with a positive trend in overall survival in patients with PSMA+ metastatic hormone-sensitive prostate cancer (mHSPC). Safety remained consistent with PSMAfore and VISION trials. Data presented at ESMO.</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: 19.32%; padding: 5px 2px 3px;">
                            <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-style: italic; font-weight: bold;">Kisqali</div>
                            <div style="line-height: 12pt; color: #000000; font-size: 11pt;">(ribociclib)</div>
                          </td>
                          <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: 80.68%; padding: 5px 2px 3px;">
                            <div style="line-height: 12pt; color: #000000; font-size: 11pt;">The five-year analysis of the pivotal Phase III NATALEE trial in the broadest population of high-risk stage II and III HR+/HER2- early breast cancer (eBC) showed
                              the addition of <font style="font-style: italic;">Kisqali </font>to endocrine therapy (ET) reduced the risk of recurrence by 28.4% compared to ET alone. Data also showed a 29.1% risk reduction in distant disease-free
                              survival, a positive trend<font style="font-style: italic;">&#160;</font>in overall survival, and no new safety signals. Data presented at ESMO.</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: 19.32%; padding: 5px 2px 3px;">
                            <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-style: italic; font-weight: bold;">Cosentyx</div>
                            <div style="line-height: 12pt; color: #000000; font-size: 11pt;">(secukinumab)</div>
                          </td>
                          <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: 80.68%; padding: 5px 2px 3px;">
                            <div style="line-height: 12pt; color: #000000; font-size: 11pt;">The Phase III REPLENISH study met its primary endpoint, with<font style="font-style: italic;">&#8239;Cosentyx</font> demonstrating statistically significant and
                              clinically meaningful sustained remission compared to placebo at week 52 in adults with relapsing polymyalgia rheumatica (PMR). Full data will be presented at an upcoming medical congress and submitted to health authorities in
                              2026.</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: 19.32%; padding: 5px 2px 3px;">
                            <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: 80.68%; padding: 5px 2px 3px;">
                            <div style="line-height: 12pt; color: #000000; font-size: 11pt;">In the Phase III APPLAUSE-IgAN final analysis, <font style="font-style: italic;">Fabhalta </font>demonstrated statistically significant, clinically meaningful
                              superiority compared to placebo in slowing IgAN progression measured by annualized total slope of estimated glomerular filtration rate (eGFR) decline over two years. Full data will be presented at future medical meetings and
                              included in regulatory submissions in 2026.</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: 19.32%; padding: 5px 2px 3px;">
                            <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-style: italic; font-weight: bold;">Leqvio</div>
                            <div style="line-height: 12pt; color: #000000; font-size: 11pt;">(Inclisiran)</div>
                          </td>
                          <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: 80.68%; padding: 5px 2px 3px;">
                            <div style="line-height: 12pt; color: #000000; font-size: 11pt;">In the Phase IV V-DIFFERENCE study, 85% of patients with hypercholesterolemia who had not reached guideline-recommended LDL-C targets despite optimized
                              lipid-lowering therapy (LLT) achieved their goals with <font style="font-style: italic;">Leqvio </font>plus LLT, versus 31% with placebo plus LLT, with benefits evident in as early as 30 days. <font style="font-style: italic;">Leqvio</font> also reduced LDL-C by 59% over 360 days, outperforming placebo plus LLT by 35%. Data presented at ESC.</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: 19.32%; padding: 5px 2px 3px;">
                            <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-style: italic; font-weight: bold;">Entresto</div>
                            <div style="line-height: 12pt; color: #000000; font-size: 11pt;">(sacubitril/ valsartan)</div>
                          </td>
                          <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: 80.68%; padding: 5px 2px 3px;">
                            <div style="line-height: 12pt; color: #000000; font-size: 11pt;">Data from the Phase IV PARACHUTE-HF study in patients with heart failure with reduced ejection fraction due to chronic Chagas disease showed that <font style="font-style: italic;">Entresto</font> outperformed enalapril on a composite endpoint of cardiovascular death, heart failure hospitalization or NT-proBNP change. <font style="font-style: italic;">Entresto</font> was
                              well tolerated, with no new safety signals identified. Data presented at ESC.</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: 19.32%; padding: 5px 2px 3px;">
                            <div style="line-height: 12pt; color: #000000; font-size: 11pt; font-style: italic; font-weight: bold;">Kesimpta</div>
                            <div style="line-height: 12pt; color: #000000; font-size: 11pt;">(ofatumumab)</div>
                          </td>
                          <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top; width: 80.68%; padding: 5px 2px 3px;">
                            <div style="line-height: 12pt; color: #000000; font-size: 11pt;">In the ARTIOS Phase IIIb study, patients with RMS who switched to <font style="font-style: italic;">Kesimpta</font> after breakthrough disease on fingolimod or
                              fumarate-based therapies showed a substantial reduction in disease activity. This was reflected in a low annualized relapse rate (ARR of 0.06 over 96 weeks), near-complete suppression of MRI activity,<br>
                            </div>
                          </td>
                        </tr>

                    </table>
                    <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;"> <br>
                    </div>
                    <div style="line-height: 17pt; font-family: Arial; font-size: 14pt; font-weight: bold;"> <br>
                    </div>
                    <div style="line-height: 17pt; 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;5</div>
                            </td>
                            <td style="width: 33.33%;">
                              <div>&#160;</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                    <div><br>
                    </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>
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                        </div>
                      </div>
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                        <div></div>
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                    <div style="line-height: 17pt; font-family: Arial; font-size: 14pt; font-weight: bold;"> <br>
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                    <div style="line-height: 17pt; font-family: Arial; font-size: 14pt; font-weight: bold;"> <br>
                    </div>
                    <div style="line-height: 17pt; font-family: Arial; font-size: 14pt; font-weight: bold;">
                      <table cellspacing="0" cellpadding="0" id="zbac8822a18644f97882c4d1ba7f28584">

                          <tr>
                            <td style="border-bottom: 1px solid #000000; border-top: 1px solid; vertical-align: top; width: 19.33%; padding: 5px 2px 3px;">
                              <div style="text-align: left; line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt; font-style: italic; font-weight: bold;"><br>
                              </div>
                              <div style="text-align: left; line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;"><br>
                              </div>
                            </td>
                            <td style="border-bottom: 1px solid #000000; border-top: 1px solid; vertical-align: top; width: 80.67%; padding: 5px 2px 3px;">
                              <div style="text-align: left; line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">and over 90% of participants achieving no evidence of disease activity (NEDA-3). No new safety concerns were identified,
                                regardless of prior disease-modifying treatment.</div>
                              <div style="line-height: 12pt;"><font style="line-height: 12pt;">&#160;</font></div>
                              <div style="text-align: left; line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">In the separate ALITHIOS open-label extension study, more than 90% of na&#239;ve patients receiving <font style="font-style: italic;">Kesimpta</font> showed no evidence of disease activity (NEDA-3) at 7 years, with no new safety concerns, reinforcing the benefit of introducing <font style="font-style: italic;">Kesimpta</font> early. Data from
                                both studies presented at ECTRIMS.</div>
                            </td>
                          </tr>
                          <tr>
                            <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 19.33%; padding: 5px 2px 3px;">
                              <div style="text-align: left; line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt; font-weight: bold;">Selected transactions</div>
                            </td>
                            <td style="border-bottom: 1px solid #000000; vertical-align: top; width: 80.67%; padding: 5px 2px 3px;">
                              <div style="text-align: left; line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Novartis entered into an agreement to acquire Tourmaline Bio, a clinical-stage biopharmaceutical company developing
                                pacibekitug, a Phase III-ready anti-IL-6 monoclonal antibody for atherosclerotic cardiovascular disease (ASCVD). In Phase II, pacibekitug reduced median high-sensitivity C-reactive protein (hsCRP) levels by up to 86%
                                compared to placebo, with similar incidence rates of adverse events and serious adverse events. The transaction is expected to close on October 28, 2025.</div>
                              <div style="line-height: 12pt;"><font style="line-height: 12pt;">&#160;</font></div>
                              <div style="text-align: left; line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Novartis entered a second collaboration with Monte Rosa Therapeutics, in addition to the existing license agreement for
                                VAV1 degraders, announced in October 2024. Under the new agreement, Novartis receives an exclusive license to an undisclosed discovery target and options to license two programs from Monte Rosa&#8217;s preclinical immunology
                                portfolio.</div>
                              <div style="line-height: 12pt;"><font style="line-height: 12pt;">&#160;</font></div>
                              <div style="text-align: left; line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Novartis continued its collaboration with Argo Biopharma, adding two new agreements: an exclusive license to an siRNA
                                candidate currently in IND-enabling studies and expected to enter Phase I in 2026, and an option to exclusively license two second-generation siRNA molecules currently in development, with a right of first negotiation to the
                                Phase II ANGPTL3 program.</div>
                              <div style="line-height: 12pt;"><font style="line-height: 12pt;">&#160;</font></div>
                              <div style="text-align: left; line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;">Novartis entered into a global licensing and collaboration agreement with Arrowhead Pharmaceuticals for ARO-SNCA, a
                                preclinical-stage siRNA therapy targeting alpha-synuclein for the treatment of synucleinopathies such as Parkinson&#8217;s disease. The agreement also includes additional collaboration targets leveraging Arrowhead&#8217;s proprietary
                                Targeted RNAi Molecule (TRiM&#8482;) platform.</div>
                            </td>
                          </tr>

                      </table>
                    </div>
                    <div><br>
                    </div>
                    <div style="line-height: 17pt; font-family: Arial; font-size: 14pt; font-weight: bold;"> <br>
                    </div>
                    <div style="line-height: 17pt; 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;">During the first nine months of 2025, Novartis repurchased a total of 66.4 million shares for USD 7.5 billion on the SIX Swiss Exchange second trading line. These
                      repurchases included 49.1 million shares (USD 5.4 billion) under the USD 15 billion share buyback (announced in July 2023 and completed in July 2025) and 6.6 million shares (USD 0.8 billion) under the new up-to USD 10 billion share
                      buyback announced in July 2025. In addition, 10.7 million shares (USD 1.3 billion) were repurchased to mitigate anticipated full-year dilution related to the equity-based compensation plans of associates. Further, 1.6 million shares
                      (equity value of USD 0.2 billion) were repurchased from associates. In the same period, 11.7 million shares (equity value of USD 0.9 billion) were delivered to associates related to equity-based compensation plans. Consequently, the
                      total number of shares outstanding decreased by 56.3 million versus December 31, 2024. These treasury share transactions resulted in an equity decrease of USD 6.8 billion and a net cash outflow of USD 7.7 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 20.4 billion at September 30, 2025, compared to USD 16.1 billion at December 31, 2024. The increase was mainly due to the free cash flow of
                      USD 15.9 billion being more than offset by the USD 7.8 billion annual dividend payment, cash outflows for treasury share transactions of USD 7.7 billion and net cash outflow for M&amp;A, intangible assets transactions and other
                      acquisitions of USD 3.7 billion.</div>
                    <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                    </div>
                    <div style="line-height: 12pt; font-family: Arial; font-size: 11pt;">As of Q3 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: 12pt; font-family: Arial; font-size: 11pt;"> <br>
                    </div>
                    <div style="line-height: 12pt; font-family: Arial; font-size: 11pt;"> <br>
                    </div>
                    <div style="line-height: 12pt; font-family: Arial; font-size: 11pt;"> <br>
                    </div>
                    <div style="line-height: 12pt; font-family: Arial; font-size: 11pt;"> <br>
                    </div>
                    <div style="line-height: 12pt; 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><br>
                    </div>
                    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 13pt; margin-bottom: 13pt;">
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                        <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>
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                        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
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                        <div></div>
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                    <div style="line-height: 12pt; font-family: Arial; font-size: 11pt;"> <br>
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                    <div style="line-height: 12pt; font-family: Arial; font-size: 11pt;"> <br>
                    </div>
                    <div style="line-height: 17pt; font-family: Arial; font-size: 14pt; font-weight: bold;">2025 outlook</div>
                    <div style="line-height: 17pt; font-family: Arial; font-size: 14pt; font-weight: bold;"> <br>
                    </div>
                    <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" id="za4f65c18d7a7422986c373ef8f8e533a">

                        <tr>
                          <td colspan="2" style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 100%; padding: 5px 0px 1px;">
                            <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-teens</font></div>
                          </td>
                        </tr>

                    </table>
                    <div style="line-height: 12pt;"><br style="line-height: 12pt;">
                    </div>
                    <div style="line-height: 12pt; padding: 3px 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-October exchange rates prevail for the remainder of 2025, the foreign exchange impact for the year would be neutral to positive 1 percentage
                      point 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;"> <br>
                    </div>
                    <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                    </div>
                    <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                    </div>
                    <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                    </div>
                    <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                    </div>
                    <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                    </div>
                    <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                    </div>
                    <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                    </div>
                    <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                    </div>
                    <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                    </div>
                    <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                    </div>
                    <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                    </div>
                    <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                    </div>
                    <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                    </div>
                    <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                    </div>
                    <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                    </div>
                    <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                    </div>
                    <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                    </div>
                    <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                    </div>
                    <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;"> <br>
                    </div>
                    <div style="line-height: 12pt; color: #000000; font-family: Arial; font-size: 11pt;"> <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>
                      <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>
                      <br>
                    </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>
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                    <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: 17pt; font-family: Arial; font-size: 14pt; font-weight: bold;">Key figures<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></div>
                    <div style="line-height: 14.6pt;"><br style="line-height: 14.6pt;">
                    </div>
                    <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" id="z1b05ad929ee1454cadb19e9dbec2b0dd">

                        <tr>
                          <td style="vertical-align: bottom; width: 23%; padding: 0px 0px 0px 3px;">&#160;</td>
                          <td style="width: 9%; vertical-align: bottom;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Q3 2025</div>
                          </td>
                          <td style="width: 9%; vertical-align: bottom;">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">Q3 2024</div>
                          </td>
                          <td colspan="2" rowspan="1" style="width: 9%; vertical-align: bottom;">
                            <div style="line-height: 9.1pt; padding: 0px 0px 0px 20px; color: #000000; font-size: 8pt; text-align: center;">% change</div>
                          </td>
                          <td style="width: 2%; vertical-align: bottom;">&#160;</td>
                          <td style="width: 9%; vertical-align: bottom;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">9M 2025</div>
                          </td>
                          <td style="width: 9%; vertical-align: bottom;">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">9M 2024</div>
                          </td>
                          <td colspan="2" rowspan="1" style="width: 9%; vertical-align: bottom;">
                            <div style="line-height: 9.1pt; padding: 0px 0px 0px 20px; color: #000000; font-size: 8pt; text-align: center;">% change</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 2px solid; vertical-align: bottom; width: 23%; padding: 0px 0px 0px 3px;">
                            <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: 9%;">
                            <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: 9%;">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt;">USD m</div>
                          </td>
                          <td style="border-bottom: 2px solid; vertical-align: bottom; width: 9%;">
                            <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: 9%;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">cc</div>
                          </td>
                          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">&#160;</td>
                          <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 9%;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">USD m</div>
                          </td>
                          <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 9%;">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">USD m</div>
                          </td>
                          <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 9%;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt;">USD</div>
                          </td>
                          <td style="border-bottom: 2px solid #000000; vertical-align: bottom; width: 9%;">
                            <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: 23%; padding: 0px 0px 0px 4px;">
                            <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Net sales</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">13 909</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">12 823</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">8</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">7</div>
                          </td>
                          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">&#160;</td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">41 196</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">37 164</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">11</div>
                          </td>
                          <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; width: 9%; padding: 0px 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">11</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; width: 23%; padding: 0px 0px 0px 4px;">
                            <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Operating income</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">4 501</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">3 627</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">24</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">27</div>
                          </td>
                          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">&#160;</td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">14 028</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">11 014</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <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 rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; width: 9%; padding: 0px 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">31</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; width: 23%; padding: 0px 0px 0px 4px;">
                            <div style="text-indent: 16pt; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">As a % of sales</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">32.4</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-style: italic;">28.3</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">&#160;</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">&#160;</div>
                          </td>
                          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">&#160;</td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">34.1</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-style: italic;">29.6</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <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 rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; width: 9%; padding: 0px 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">&#160;</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; width: 23%; padding: 0px 0px 0px 4px;">
                            <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Net income</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">3 930</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">3 185</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">23</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">25</div>
                          </td>
                          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">&#160;</td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">11 563</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">9 119</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <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 rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; width: 9%; padding: 0px 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">29</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; width: 23%; padding: 0px 0px 0px 4px;">
                            <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">EPS (USD)</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">2.04</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">1.58</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">29</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">31</div>
                          </td>
                          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">&#160;</td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">5.94</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">4.50</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">32</div>
                          </td>
                          <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; width: 9%; padding: 0px 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">35</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; width: 23%; padding: 0px 0px 0px 4px;">
                            <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Net cash flows from operating activities</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">6 571</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">6 286</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">5</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                          </td>
                          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">&#160;</td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">16 880</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">13 426</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">26</div>
                          </td>
                          <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; width: 9%; padding: 0px 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; width: 23%; padding: 0px 0px 0px 4px;">
                            <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Non-IFRS measures</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">&#160;</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                          </td>
                          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">&#160;</td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">&#160;</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <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 rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; width: 9%; padding: 0px 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; width: 23%; padding: 0px 0px 0px 4px;">
                            <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Free cash flow</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">6 217</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">5 965</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">4</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                          </td>
                          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">&#160;</td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">15 941</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">12 618</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">26</div>
                          </td>
                          <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; width: 9%; padding: 0px 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">&#160;</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; width: 23%; padding: 0px 0px 0px 4px;">
                            <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Core operating income</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">5 460</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">5 145</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">6</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">7</div>
                          </td>
                          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">&#160;</td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">16 960</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">14 635</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">16</div>
                          </td>
                          <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; width: 9%; padding: 0px 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">18</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; width: 23%; padding: 0px 0px 0px 4px;">
                            <div style="text-indent: 16pt; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">As a % of sales</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">39.3</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-style: italic;">40.1</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">&#160;</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">&#160;</div>
                          </td>
                          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">&#160;</td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">41.2</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-style: italic;">39.4</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <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 rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; width: 9%; padding: 0px 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-style: italic;">&#160;</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; width: 23%; padding: 0px 0px 0px 4px;">
                            <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Core net income</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">4 330</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">4 133</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">5</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">6</div>
                          </td>
                          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">&#160;</td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">13 522</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">11 822</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">14</div>
                          </td>
                          <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; width: 9%; padding: 0px 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">17</div>
                          </td>
                        </tr>
                        <tr>
                          <td style="border-bottom: 1px solid; vertical-align: bottom; width: 23%; padding: 0px 0px 0px 4px;">
                            <div style="line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">Core EPS (USD)</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">2.25</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">2.06</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">9</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">10</div>
                          </td>
                          <td nowrap="nowrap" style="width: 2%; vertical-align: bottom;">&#160;</td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">6.94</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #808080; font-size: 8pt; font-weight: bold;">5.83</div>
                          </td>
                          <td nowrap="nowrap" style="width: 9%; vertical-align: bottom; border-bottom: 1px solid rgb(0, 0, 0);">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">19</div>
                          </td>
                          <td style="border-bottom: 1px solid rgb(0, 0, 0); vertical-align: bottom; white-space: nowrap; width: 9%; padding: 0px 3px 0px 0px;">
                            <div style="text-align: right; line-height: 9.1pt; color: #000000; font-size: 8pt; font-weight: bold;">21</div>
                          </td>
                        </tr>

                    </table>
                    <div style="line-height: 14.6pt;"><br style="line-height: 14.6pt;">
                    </div>
                    <div style="text-align: justify; line-height: 8pt; font-family: Arial; font-size: 8pt;"><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 42 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 0px; 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; padding: 3px 0px 0px; color: #0563C1; font-family: Arial; font-size: 11pt;">
                      <div style="line-height: 14.75pt; color: #0563C1;"><u>https://ml-eu.globenewswire.com/resource/download/7781ab26-6902-4024-a9c8-49124629eb37/</u></div>
                      <div style="line-height: 14.75pt">&#160;</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;"><br style="line-height: 12pt;">
                    </div>
                    <div style="line-height: 12pt; 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;guidance,&#8221; &#8220;outlook,&#8221; &#8220;priority,&#8221; &#8220;potential,&#8221; &#8220;momentum,&#8221; &#8220;commitment,&#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;<br>
                      <br>
                      <div><br>
                      </div>
                      <div><br>
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                      <div>
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                              <td style="width: 33.33%; text-align: center; font-weight: normal; font-style: normal; font-size: 8pt;">
                                <div>&#160;8</div>
                              </td>
                              <td style="width: 33.33%;">
                                <div>&#160;</div>
                              </td>
                            </tr>

                        </table>
                      </div>
                      <div><br>
                      </div>
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                      <div><br>
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                      </div>
                      <div>
                        <div style="line-height: 11.4pt;">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&#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;"><br style="line-height: 11.4pt;">
                        </div>
                        <div style="line-height: 11.4pt;">All product names appearing in italics are trademarks owned by or licensed to Novartis.<br>
                        </div>
                      </div>
                    </div>
                    <div style="line-height: 11.4pt;"><br style="line-height: 11.4pt;">
                    </div>
                    <div style="line-height: 12pt; padding: 5px 0px 0px; 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 9:00 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;"><br style="line-height: 12pt;">
                    </div>
                    <div style="line-height: 12pt;">
                      <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 13pt; color: #000000; width: 100%;">

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                            <td style="width: 20.03%; padding: 3px 0px 2px; font-size: 11pt;">
                              <div style="line-height: 12pt; padding: 0px 0px 2px; font-weight: bold;">Important dates</div>
                            </td>
                            <td style="width: 79.97%; padding: 3px 0px 2px; font-size: 11pt;">
                              <div style="text-align: left; line-height: 12pt;"><br>
                              </div>
                            </td>
                          </tr>
                          <tr>
                            <td rowspan="1" style="width: 20.03%; padding: 2px 0px 1px; font-size: 11pt;"><font style="color: #000000;">October 30, 2025</font></td>
                            <td rowspan="1" style="width: 79.97%; padding: 2px 0px 1px; font-size: 11pt;">
                              <div style="line-height: 12pt; padding: 1px 0px; text-align: left;">
                                <div style="line-height: 12pt;">
                                  <div style="line-height: 12pt; padding: 1px 0px;"><font style="color: #000000;">Immunology pipeline event at ACR (virtual)</font></div>
                                </div>
                              </div>
                            </td>
                          </tr>
                          <tr>
                            <td rowspan="1" style="width: 20.03%; padding: 3px 0px 2px; font-size: 11pt;">
                              <div style="line-height: 12pt; text-align: left;"><font style="color: rgb(0, 0, 0);">November 19-20, 2025</font> </div>
                            </td>
                            <td rowspan="1" style="width: 79.97%; padding: 3px 0px 2px; font-size: 11pt;">
                              <div style="line-height: 12pt; padding: 1px 0px; text-align: left;">
                                <div style="background-color: #FFFFFF; line-height: 12pt; color: #000000; font-style: normal; font-variant: normal; font-weight: normal; text-transform: none;">
                                  <div style="line-height: 12pt; padding: 1px 0px;">
                                    <div style="line-height: 12pt;">
                                      <div style="line-height: 12pt; padding: 1px 0px;"><font style="color: #000000;">Meet Novartis Management 2025 (London, UK)</font></div>
                                    </div>
                                  </div>
                                </div>
                              </div>
                            </td>
                          </tr>
                          <tr>
                            <td rowspan="1" style="width: 20.03%; padding: 3px 0px 2px; font-size: 11pt;">
                              <div style="line-height: 12pt; text-align: left;">
                                <div style="line-height: 12pt;">
                                  <div style="line-height: 12pt;">December 1, 2025</div>
                                </div>
                              </div>
                            </td>
                            <td rowspan="1" style="width: 79.97%; padding: 3px 0px 2px; font-size: 11pt;">
                              <div style="background-color: #FFFFFF; line-height: 12pt; color: #000000; font-style: normal; font-variant: normal; font-weight: normal; text-align: left; text-transform: none;">
                                <div style="background-color: #FFFFFF; line-height: 12pt; color: #000000; font-style: normal; font-variant: normal; font-weight: normal; text-transform: none;">
                                  <div style="line-height: 12pt; padding: 1px 0px;">
                                    <div style="background-color: #FFFFFF; line-height: 12pt; color: #000000; font-style: normal; font-variant: normal; font-weight: normal; text-transform: none;">Social Impact &amp; Sustainability annual investor event
                                      (virtual)</div>
                                  </div>
                                </div>
                              </div>
                            </td>
                          </tr>
                          <tr>
                            <td rowspan="1" style="width: 20.03%; padding: 3px 0px 2px; font-size: 11pt;">
                              <div style="line-height: 12pt; text-align: left;">
                                <div style="line-height: 12pt;">February 4, 2026</div>
                              </div>
                            </td>
                            <td rowspan="1" style="width: 79.97%; padding: 3px 0px 2px; font-size: 11pt;">
                              <div style="background-color: #FFFFFF; line-height: 12pt; color: #000000; font-style: normal; font-variant: normal; font-weight: normal; text-align: left; text-transform: none;">
                                <div style="background-color: #FFFFFF; line-height: 12pt; color: #000000; font-style: normal; font-variant: normal; font-weight: normal; text-transform: none;">Fourth quarter &amp; full year 2025 results</div>
                              </div>
                            </td>
                          </tr>

                      </table>
                    </div>
                    <div style="text-align: center; line-height: 12pt; font-family: Arial; font-size: 11pt;"> <br>
                    </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>
                    <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 13pt; width: 100%; text-align: left; color: #000000;" id="z25358d9e3cd947dcb5617be9c1469813">

                        <tr>
                          <td colspan="2" style="width: 50.88%; vertical-align: top;">
                            <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 colspan="2" style="width: 50.88%; vertical-align: top;">
                            <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 colspan="2" style="width: 49.12%; vertical-align: top;">&#160;</td>
                        </tr>

                    </table>
                    <div style="line-height: 11.4pt;"><br style="line-height: 11.4pt;">
                    </div>
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                    <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;9</div>
                          </td>
                          <td style="width: 33.33%;">
                            <div>&#160;</div>
                          </td>
                        </tr>

                    </table>
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<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>a251028-99_2.htm
<DESCRIPTION>99.2 CONDENSED FINANCIAL REPORT
<TEXT>

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<a name="anchorId00316920"></a><p style="font-family:arial,helvetica,sans-serif; font-size:24pt; color:#000000; font-weight:bold;">Novartis Third Quarter and Nine Months 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">10</div></font></div>
<div style="padding-top:5px; border-top: 1px solid black; margin: 2px 0; "><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold; text-transform:uppercase;">INNOVATION REVIEW
      <div style="float:right">14</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">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 comprehensive income
      <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;">Consolidated balance sheets
      <div style="float:right">19</div></font></div>
<div style="padding-top:5px;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; margin-left:20px;">Consolidated statements of changes in equity
      <div style="float:right">20</div></font></div>
<div style="padding-top:5px;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; margin-left:20px;">Consolidated statements of cash flows
      <div style="float:right">22</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">24</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">42</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">44</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">47</div></font></div>
<div style="padding-top:5px;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-style:italic;">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">49</div></font></div>
<div style="padding-top:5px;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; margin-left:20px;">Share information
      <div style="float:right">49</div></font></div>
<div style="padding-top:5px;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; margin-left:20px;">Effects of currency fluctuations
      <div style="float:right">50</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">51</div></font></div>
<div style="padding-top:5px; border-top: 1px solid black; margin: 2px 0; "><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold; text-transform:uppercase;">  </font></div>
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    <font style="font-family:arial,helvetica,sans-serif; font-size:10pt; font-weight: normal; color:#000000;">2</font><br>
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<a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">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;">Third quarter and nine months</font></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
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            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; 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;"> Q3 2025<br> USD m
            </div>
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         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q3 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>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> 9M 2025<br> USD m
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> 9M 2024<br> USD m
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         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> % change<br> USD
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         </td>
         <td></td>
         <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>
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         <td></td>
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         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
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         <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="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 13&nbsp;909</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;"> 12&nbsp;823</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;"> 8</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;"> 7</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 41&nbsp;196</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;"> 37&nbsp;164</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 11</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 11</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
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         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other revenues</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 449</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 349</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;"> 27</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;618</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;000</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 62</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>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Cost of goods sold</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -3&nbsp;539</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -3&nbsp;234</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:#000000;"> -10&nbsp;088</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -9&nbsp;503</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;"> -5</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Gross profit</div>
         </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;819</div>
         </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;938</div>
         </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;"> 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;"> 32&nbsp;726</div>
         </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;661</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 14</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 15</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">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;308</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -3&nbsp;134</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;"> -4</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -9&nbsp;808</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -9&nbsp;065</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="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Research and development</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2&nbsp;944</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -2&nbsp;392</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;"> -19</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -8&nbsp;037</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -7&nbsp;180</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;"> -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;">Other income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 269</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;"> -24</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;"> 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;"> 877</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>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -335</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1&nbsp;140</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 71</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 74</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1&nbsp;896</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -2&nbsp;279</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;"> 19</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Operating income</div>
         </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;501</div>
         </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;627</div>
         </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;"> 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;"> 14&nbsp;028</div>
         </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;014</div>
         </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="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">% of net sales</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> 32.4</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;"> 28.3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> 34.1</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;"> 29.6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Loss from associated companies</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -4</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -4</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -10</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -35</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 71</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>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Interest expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -281</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -264</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;"> -7</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -840</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -731</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;"> -16</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">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;"> -20</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:#000000;"> nm</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> nm</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -44</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 107</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> nm</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> nm</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">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;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;"> 3&nbsp;385</div>
         </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>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 13&nbsp;134</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 10&nbsp;355</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 27</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 29</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Income taxes</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -266</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -200</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;"> -35</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1&nbsp;571</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1&nbsp;236</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -27</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -29</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 3&nbsp;930</div>
         </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;185</div>
         </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;"> 25</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 11&nbsp;563</div>
         </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;119</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 27</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 29</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Basic earnings per share (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;"> 2.04</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 1.58</div>
         </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>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 5.94</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 4.50</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 32</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 35</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net cash flows from  operating activities</div>
         </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;571</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   6&nbsp;286</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   16&nbsp;880</div>
         </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;426</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   26</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Non-IFRS measures<sup style="white-space: nowrap">&nbsp;1</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Free cash flow</div>
         </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;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:#666666;"> 5&nbsp;965</div>
         </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;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 15&nbsp;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;"> 12&nbsp;618</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 26</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Core operating income</div>
         </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;460</div>
         </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;145</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 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;"> 16&nbsp;960</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 14&nbsp;635</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#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="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">% of net sales</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> 39.3</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;"> 40.1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> 41.2</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;"> 39.4</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="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Core net income</div>
         </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;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;"> 4&nbsp;133</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 13&nbsp;522</div>
         </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;822</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 14</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 17</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Core basic earnings per share (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;"> 2.25</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 2.06</div>
         </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;"> 10</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 6.94</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 5.83</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;"> 19</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 21</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="18">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="18">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</sup> Constant currencies (cc), core results and free cash flow are non-IFRS measures. An
               explanation of non-IFRS measures can be found on page 42. Unless otherwise noted,
               all growth rates in this release refer to same period in prior-year.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="18">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">nm = not meaningful</div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-bottom:10px;"></div>
<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="padding-bottom:15px;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><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:#0070f7; font-weight:bold;">Third quarter</font></div><a name=""></a><div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Net sales</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">Net sales were USD 13.9 billion (+8%, +7% cc), with volume contributing 16 percentage
   points to growth. Generic competition had a negative impact of 7 percentage points
   and pricing had a negative impact of 2 percentage points, driven by revenue deduction
   adjustments mainly in the US. Currency had a positive impact of 1 percentage point.
   Sales in the US were USD 6.0 billion (+12%) and in the rest of the world USD 7.9 billion
   (+6%, +4% 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>Kisqali</i> (USD 1.3 billion, +69%, +68% cc), <i>Kesimpta</i> (USD 1.2 billion, +46%, +44% cc), <i>Pluvicto</i> (USD 564 million, +46%, +45% cc) and <i>Scemblix</i> (USD 358 million, +97%, +95% cc), partly offset by generic competition.
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">In the US (USD 6.0 billion, +12%), sales growth was mainly driven by <i>Kisqali</i>, <i>Kesimpta</i>, <i>Pluvicto</i> and <i>Scemblix</i>, partly offset by generic competition, mainly for <i>Promacta</i>, <i>Tasigna</i>  and <i>Entresto</i>. In Europe (USD 4.3 billion, +7%, +2% cc), sales growth was mainly driven by <i>Kesimpta</i>, <i>Kisqali</i> and <i>Entresto</i>, partly offset by generic competition, mainly for <i>Tasigna</i> and <i>Lucentis</i>. Sales in emerging growth markets were USD 3.4 billion (+3%, +5% cc), including USD
   1.0 billion of sales from China (-3%, -3% 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 4.5 billion (+24%, +27% cc), mainly driven by higher net
   sales and lower impairments, partly offset by higher R&amp;D investments. Operating income
   margin was 32.4% of net sales, increasing 4.1 percentage points (5.1 percentage points
   cc). Other revenue as a percentage of net sales increased by 0.5 percentage points
   (0.6 percentage points cc). Cost of goods sold as a percentage of net sales increased
   by 0.2 percentage points (decreased by 0.2 percentage points cc). R&amp;D expenses as
   a percentage of net sales increased by 2.5 percentage points (2.1 percentage points
   cc). SG&amp;A expenses as a percentage of net sales decreased by 0.6 percentage points
   (0.7 percentage points cc). Other income and expense as a percentage of net sales
   increased the margin by 5.7 percentage points (5.7 percentage points cc).
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Core adjustments were USD 1.0 billion, mainly from amortization, compared with USD
   1.5 billion in the prior-year quarter. Core adjustments decreased compared with the
   prior-year quarter, mainly due to lower impairment.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Core operating income was USD 5.5 billion (+6%, +7% cc), mainly driven by higher net
   sales, partly offset by higher R&amp;D investments. Core operating income margin was 39.3%
   of net sales (-0.8 percentage points, stable in cc). Core other revenue as a percentage
   of net sales increased by 0.6 percentage points (cc). Core cost of
</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;">goods sold as a percentage of net sales increased by 0.6 percentage points (cc). Core
   R&amp;D expenses as a percentage of net sales increased by 0.8 percentage points (cc).
   Core SG&amp;A expenses as a percentage of net sales decreased by 0.7 percentage points
   (cc). Core other income and expense as a percentage of net sales increased the margin
   by 0.1 percentage points (cc).
</div><a name=""></a><div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Interest expense and other financial income and expense</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">Interest expense amounted to USD 281 million compared with USD 264 million in the
   prior-year quarter.
</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 expense of USD 20 million compared
   with an income of USD 26 million in 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 expense of USD 7 million compared
   with an income of USD 56 million in prior-year quarter, mainly due to lower interest
   income and higher currency losses.
</div><a name=""></a><div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Income taxes</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The tax rate in the third quarter was 6.3% compared with 5.9% in the prior-year quarter.
   The current-year tax rate was favorably impacted by the remeasurement of deferred
   tax balances following tax law changes, primarily in the US, and the effect of adjusting
   the current-year tax rate to the estimated full-year tax rate, which was lower than
   previously estimated, partially offset by prior-year items. The prior-year tax rate
   was favorably impacted by changes in uncertain tax positions, the recognition of deferred
   tax assets on prior-years&#x2019; tax credit carryforwards and the effect of adjusting the
   current-year tax rate to the estimated full-year tax rate, which was lower than previously
   estimated, partially offset by a non-deductible impairment of goodwill. Excluding
   these impacts, the current and prior-year tax rate would have been 14.3% and 15.1%,
   respectively. The decrease from the prior year 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%
   in both the current and prior-year quarter.
</div><a name=""></a><div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">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 3.9 billion (+23%, +25% cc), mainly driven by higher operating
   income. EPS was USD 2.04 (+29%, +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;">Core net income was USD 4.3 billion (+5%, +6% cc), mainly due to higher core operating
   income, partly offset by other core financial income and expense. Core EPS was USD
   2.25 (+9%, +10% cc), benefiting from the lower weighted average number of shares outstanding.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Net cash flows from operating activities amounted to USD 6.6 billion, compared with
   USD 6.3 billion in the prior-year quarter. Free cash flow amounted to USD 6.2 billion
   (+4% USD), compared with USD 6.0 billion in the prior-year quarter, driven by higher
   net cash flows from operating activities.
</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;">Nine months</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 41.2 billion (+11%, +11% cc), with volume contributing 14 percentage
   points to growth. Generic competition had a negative impact of 3 percentage points,
   while pricing and currency had no impact. Sales in the US were USD 18.0 billion (+19%)
   and in the rest of the world USD 23.2 billion (+5%, +6% 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>Kisqali</i> (USD 3.5 billion, +62%, +63% cc), <i>Kesimpta</i> (USD 3.2 billion, +41%, +40% cc), <i>Entresto</i> (USD 6.5 billion, +15%, +15% cc), <i>Scemblix</i> (USD 894 million, +85%, +84% cc) and <i>Pluvicto</i> (USD 1.4 billion, +33%, +33% cc), partly offset by generic competition, mainly for
   <i>Lucentis</i>, <i>Tasigna</i> and <i>Promacta</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 18.0 billion, +19%), sales growth was mainly driven by <i>Kisqali</i>, <i>Kesimpta</i>, <i>Entresto</i>, <i>Scemblix</i> and <i>Pluvicto</i>, partly offset by the impact of generic competition, mainly for <i>Promacta</i> and <i>Tasigna</i>. In Europe (USD 12.3 billion, +6%, +4% cc), sales growth was mainly driven by <i>Kesimpta</i>, <i>Entresto</i>, <i>Pluvicto</i>, <i>Kisqali</i> and <i>Leqvio</i>, partly offset by generic competition, mainly for <i>Lucentis</i> and <i>Gilenya</i>. Sales in emerging growth markets were USD 10.5 billion (+5%, +8% cc), including
   USD 3.2 billion of sales from China (+4%, +5% cc).
</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><a name=""></a><div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Operating income</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">Operating income was USD 14.0 billion (+27%, +31% cc), mainly driven by higher net
   sales and lower impairments, partly offset by higher investments behind priority brands
   and launches. Operating income margin was 34.1% of net sales, increasing 4.5 percentage
   points (5.3 percentage points cc). Other revenue as a percentage of net sales increased
   by 1.2 percentage points (1.2 percentage points cc). Cost of goods sold as a percentage
   of net sales decreased by 1.1 percentage points (1.5 percentage points cc). R&amp;D expenses
   as a percentage of net sales increased by 0.2 percentage points (decreased by 0.2
   percentage points cc). SG&amp;A expenses as a percentage of net sales decreased by 0.6
   percentage points (0.8 percentage points cc). Other income and expense as a percentage
   of net sales increased the margin by 1.8 percentage points (1.6 percentage points
   cc).
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Core adjustments were USD 2.9 billion, mainly due to amortization, compared with USD
   3.6 billion in the prior-year period. Core adjustments decreased compared with the
   prior year, mainly due to lower impairments.
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Core operating income was USD 17.0 billion (+16%, +18% cc), mainly driven by higher
   net sales, partly offset by higher investments behind priority brands and launches.
   Core operating income margin was 41.2% of net sales, increasing 1.8 percentage points
   (2.5 percentage points cc). Core other revenue as a percentage of net sales increased
   by 0.4 percentage points (cc). Core cost of goods sold as a percentage of net sales
   decreased by 0.5 percentage points (cc). Core R&amp;D expenses as a percentage of net
   sales decreased by 0.4 percentage points (cc). Core SG&amp;A expenses as a percentage
   of net sales decreased by 0.8 percentage points (cc). Core other income and expense
   as a percentage of net sales increased the margin by 0.4 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 and expense</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">Interest expense amounted to USD 840 million compared with USD 731 million in the
   prior year.
</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 expense of USD 44 million compared
   with an income of USD 107 million in the prior year, mainly due to lower interest
   and other financial income, and higher currency losses, partially offset by lower
   monetary losses from hyperinflation accounting.
</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 26 million compared
   with USD 212 million in the prior year, mainly due to lower interest income and higher
   currency losses.
</div><a name=""></a><div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Income taxes</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The tax rate in the first nine months was 12% compared with 11.9% in the prior year.
   The current-year tax rate was favorably impacted by changes in uncertain tax positions
   and the remeasurement of deferred tax balances following tax law changes, primarily
   in Switzerland and the US, partially offset by prior-year items and other items. The
   prior-year tax rate was favorably impacted by changes in uncertain tax positions and
   the recognition of deferred tax assets on prior-years&#x2019; tax credit carryforwards, partially
   offset by the effect of a non-deductible impairment of goodwill. Excluding these impacts,
   the current and prior-year tax rate would have been 14.3% and 15.1%, respectively.
   The decrease from the prior year 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%
   in both the current and prior-year period.
</div><a name=""></a><div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Net income, EPS and free cash flow </font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">Net income was USD 11.6 billion (+27%, +29% cc), mainly driven by higher operating
   income. EPS was USD 5.94 (+32%, +35% 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 13.5 billion (+14%, +17% cc), mainly due to higher core operating
   income. Core EPS was USD 6.94 (+19%, +21% 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 16.9 billion, compared with
   USD 13.4 billion in the prior-year period. Free cash flow amounted to USD 15.9 billion
   (+26% USD), compared with USD 12.6 billion in the prior-year period, 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;">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;">Product commentary (relating to Q3 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;"> Q3 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q3 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>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> 9M 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> 9M 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>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> USD</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> cc</div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Cardiovascular, renal and metabolic</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Entresto</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;877</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;865</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6&nbsp;495</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;"> 5&nbsp;642</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;"> 15</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;"> 15</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Leqvio</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 308</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 198</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:#000000;"> 54</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 863</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 531</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 63</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 61</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total cardiovascular,  renal and metabolic</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   2&nbsp;185</div>
         </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;063</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   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;">   7&nbsp;358</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   6&nbsp;173</div>
         </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;">   19</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
   </table>
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Entresto</i></b> (USD 1 877 million, +1%, -1% cc) sales grew ex-US, where the product is approved
   for heart failure globally as well as hypertension in China and Japan. Growth ex-US
   was offset by a decline in the US, where FDA-approved generics have now launched.
   Novartis is in US litigation with a generic manufacturer and FDA to protect its <i>Entresto</i> IP and regulatory rights.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Leqvio</i></b> (USD 308 million, +56%, +54% cc) sales grew across all regions. Focus remains on
   increased account and patient adoption and continuing medical education. <i>Leqvio</i> is registered in more than 107 countries worldwide and commercially available in
   87 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;"> Q3 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q3 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>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> 9M 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> 9M 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>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> USD</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> cc</div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Immunology</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Cosentyx</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;698</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;693</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;"> 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:#000000;"> -1</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 4&nbsp;861</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 4&nbsp;545</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7</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; font-style:italic; color:#000000;">&nbsp;&nbsp;&nbsp;excl. revenue deduction adjust.<sup style="white-space: nowrap">&nbsp;1</sup></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;"> 5</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;"> 4</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#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;"> 9</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;"> 9</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Ilaris</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 473</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 372</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;"> 26</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;369</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;096</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 25</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 24</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">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;"> 440</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 418</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;"> 3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;339</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;244</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="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total immunology</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 2&nbsp;611</div>
         </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;483</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 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;"> 7&nbsp;569</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 6&nbsp;885</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 10</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 10</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="18">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="18">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</sup> Sales growth impacted by a one-time revenue deduction adjustment in the US
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="18">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;2&nbsp;</sup> Net sales 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 1 698 million, 0%, -1% cc) sales were broadly stable. Strong volume growth in
   the US was partially offset by higher revenue deductions, including a one-time adjustment
   related to prior quarters (USD 74 million). Ex-US sales declined due to a one-time
   price effect in the prior year. Since initial approval in 2015, <i>Cosentyx</i>&nbsp;has shown sustained efficacy and a robust safety profile, treating more than 1.8 million
   patients across 8 indications. Novartis remains confident in <i>Cosentyx</i>&nbsp;USD 8 billion+ peak sales guidance.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Ilaris</i></b>  (USD 473 million, +27%, +26% cc) sales grew across all major geographies, led by the
   US, Europe and Japan, with continued momentum in the Periodic Fever Syndromes and
   Still&#x2019;s disease indications.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Xolair </i></b>(USD 440 million, ex-US +5%, +3% cc) sales grew driven by the CSU indication, with
   contributions from Europe and emerging growth markets. A biosimilar was introduced
   in some European markets in September. 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><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;"> Q3 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q3 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>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> 9M 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> 9M 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>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> USD</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> cc</div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Neuroscience</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Kesimpta</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;222</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;"> 838</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 46</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 44</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;198</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;274</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;"> 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; color:#000000;"> 40</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Zolgensma</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 301</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 308</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 925</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 952</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;"> -4</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;"> 86</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>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 9</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 245</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 232</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;"> 3</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">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;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;"> 1&nbsp;225</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 31</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 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;"> 4&nbsp;368</div>
         </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;458</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 26</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 26</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
   </table>
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Kesimpta</i></b>  (USD 1 222 million, +46%, +44% 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
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">7</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">at-home self-administration for a broad population of RMS patients. <i>Kesimpta</i> is now approved in 94 countries with more than 155,000 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 301 million, -2%, -5% cc) sales declined reflecting a lower incidence of SMA
   compared with the prior year. <i>Zolgensma</i>  is now approved in 62 countries, with over 5,000 patients treated globally through
   clinical trials, early access programs and commercial use.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Aimovig </i></b>(USD 86 million, +9%, +2% cc) sales grew 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 Japan.
</div><a name=""></a><div style="padding-top:20px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#0070f7; font-weight:bold; text-transform:uppercase;">ONCOLOGY</font></div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Q3 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q3 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>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> 9M 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> 9M 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>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> USD</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> cc</div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Oncology</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Kisqali</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1329</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;"> 787</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;"> 69</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;"> 68</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;462</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;131</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;"> 62</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;"> 63</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;"><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;"> 550</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 534</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;675</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;531</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;"> 9</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Jakavi</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 539</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 500</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;"> 4</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;555</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;449</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Promacta/Revolade</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 362</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 569</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;"> -38</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;410</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;633</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;"> -14</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;"> 564</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 386</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 46</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 45</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;389</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;041</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 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="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Tasigna</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 221</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 419</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -47</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -48</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 925</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;260</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;"> -26</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Scemblix</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 358</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 182</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 97</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 95</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 894</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 482</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 85</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 84</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Lutathera</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 213</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 190</div>
         </td>
         <td align="right"></td>
         <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;"> 11</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 613</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 534</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;"> 14</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;"> 149</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 44</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 239</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 236</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 350</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>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> nm</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> nm</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 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;"> 90</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 111</div>
         </td>
         <td align="right"></td>
         <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;"> -19</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 301</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 340</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -11</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -11</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <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;"> 4&nbsp;375</div>
         </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;722</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 18</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 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;"> 12&nbsp;574</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 10&nbsp;473</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 20</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 20</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="18">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="18">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</sup> Majority of sales for <I>Mekinist</I> and <I>Tafinlar</I> are combination, but both
               can be used as monotherapy.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="18">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;2&nbsp;</sup> Net sales to third parties reflect <I>Fabhalta</I> sales for all indications.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="18">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">nm = not meaningful</div>
         </td>
      </tr>
   </table>
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Kisqali</i></b>  (USD 1 329 million, +69%, +68% cc) sales grew strongly across all regions, including
   +91% growth in the US, reflecting continued share gains in HR+/HER2- metastatic breast
   cancer (mBC), as well as leading NBRx share in HR+/HER2- early breast cancer (eBC).
   <i>Kisqali</i> performance is underpinned by increasing recognition of the overall survival benefit
   consistently demonstrated across all Phase III clinical trials in mBC, Category 1
   preferred NCCN Guidelines recommendation and highest ESMO magnitude of clinical benefit
   score in both mBC and eBC.
</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 550 million, +3%, +1% cc) sales grew across most regions, driven by demand in
   BRAF+ adjuvant melanoma, NSCLC and tumor agnostic indications, while maintaining demand
   in the highly competitive BRAF+ metastatic melanoma market.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Jakavi</i></b>  (USD 539 million, +8%, +4% cc) sales grew across all regions driven by sustained demand
   across indications. Incyte retains all rights to ruxolitinib (Jakafi<sup>&#xae;</sup>) in the US.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Promacta/Revolade</i></b>  (USD 362 million, -36%, -38% cc) declined due to discontinued promotion in most markets
   and generic entry in the US in Q2 2025. Sales ex-US were stable in Q3 following generic
   entry in Europe in September 2025.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Pluvicto</i></b>  (USD 564 million, +46%, +45% cc) showed sustained demand growth in the US following
   the pre-taxane metastatic castration-resistant prostate cancer (mCRPC) approval, as
   well as continued access expansion ex-US in the post-taxane mCRPC setting, with 25 countries now approved including Japan. <i>Pluvicto</i> is the only PSMA-targeted radioligand therapy approved by the FDA and Japan&#x2019;s PMDA
   to significantly delay progression after one ARPI and before chemotherapy for the
   treatment of adult patients with progressive, PSMA+ mCRPC.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Tasigna</i></b>  (USD 221 million, -47%, -48% cc) sales declined due to lower demand and increasing
   competition including recent generic entry in the US and ex-US.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Scemblix</i></b>  (USD 358 million, +97%, +95% cc) sales grew across all regions, demonstrating the
   continued high unmet need for treatment options with high efficacy and tolerability
   for adult CML patients previously treated with two or more tyrosine kinase inhibitors,
   as well as strong momentum from the early-line indication in the US and Japan. As
   of Q3 2025, 26 ex-US markets have secured approval in early lines, including China
   and Switzerland.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Lutathera</i></b>  (USD 213 million, +12%, +11% cc) sales grew mainly in the US, Japan and Europe due
   to increased demand and earlier-line adoption (within indication) in the US and Japan.
   Novartis is in US patent litigation with manufacturers having FDA applications referencing
   <i>Lutathera</i>.
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">8</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Fabhalta</i></b>  (USD 149 million, +239%, +236% cc) sales grew driven by market share gains in PNH
   globally as well as continued launch progress in IgAN and C3G in the&nbsp;US.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Piqray/Vijoice</i></b>  (USD 90 million, -19%, -19% cc) sales declined, driven by increased competition for
   <i>Piqray</i> across all markets.
</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;"> Q3 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q3 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>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> 9M 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> 9M 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>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> USD m</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> USD</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> cc</div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Established brands</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"><I>Sandostatin</I> Group</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 302</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;"> 305</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1</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;"> 922</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;"> 973</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;"> -5</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;"> -5</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;"><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;"> 176</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 174</div>
         </td>
         <td align="right"></td>
         <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;"> 0</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;"> 544</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Lucentis</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 148</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 245</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;"> 510</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 834</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -39</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -39</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"><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;"> 143</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 150</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 447</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 450</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;"> 126</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 159</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -21</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -20</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 373</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 458</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;"> -16</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;"> 97</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 102</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -7</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 296</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 335</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -12</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -12</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Contract manufacturing</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 396</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;"> 42</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;"> 1&nbsp;015</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 829</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;"> 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;">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;741</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;916</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;"> -8</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 5&nbsp;218</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 5&nbsp;752</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;"> -7</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total established brands</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 3&nbsp;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:#666666;"> 3&nbsp;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:#000000;"> -6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 9&nbsp;327</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 10&nbsp;175</div>
         </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;"> -7</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
   </table>
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Sandostatin</i></b>  <b>Group </b>(USD 302 million, -1%, -1% cc) declined slightly, primarily 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>Exforge</i></b>  <b>Group </b>(USD 176 million, +1%, 0% cc) sales were broadly stable, as growth mainly in China
   was 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>Lucentis</i></b> (USD 148 million, ex-US -40%, -42% cc) sales declined, mainly due to increased competition.
   Novartis only commercializes <i>Lucentis</i> in markets ex-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 143 million, -5%, -5% cc) sales declined in most markets due to competition.
</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 126 million, -21%, -20% cc) sales declined mainly due to continued competition.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;"><b><i>Kymriah </i></b>(USD 97 million, -5%, -7% 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;">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-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;">Third 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 6.6 billion, compared with
   USD 6.3 billion in the prior-year quarter. This increase was mainly driven by higher
   net income, adjusted for non-cash items and other adjustments, as well as favorable
   changes in working capital. These were partly offset by lower net other financial
   receipts, and increased outflows from net interest paid and income taxes paid.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Net cash outflows used in investing activities amounted to USD 0.9 billion, compared
   with USD 0.4 billion in the prior-year quarter.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">In the current-year quarter, net cash outflows used in investing activities were mainly
   driven by USD 0.5 billion for purchases of intangible assets and USD 0.4 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 0.4
   billion were mainly driven by USD 0.5 billion for purchases of intangible assets and
   USD 0.3 billion for purchases of property, plant and equipment. These were partly
   offset by cash inflows of USD 0.2 billion from the sale of financial assets, and by&nbsp;net proceeds of USD 0.3 billion from marketable securities and time deposits, 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;">Net cash outflows used in financing activities amounted to USD 2.8 billion, compared
   with USD 0.4 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 2.3 billion for net treasury share transactions and USD 0.4 billion
   for the net decrease in current and non-current financial debts.
</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 amounted
   to USD 0.4 billion. These were driven by the cash outflows of USD 4.1 billion, mainly
   driven by USD 2.8 billion for net treasury share transactions, the change in current
   financial debts of USD 0.8 billion, and the repayments of other current financial
   debts of USD 0.3 billion. These cash outflows were partly offset by cash inflows of
   USD 3.7 billion from the issuance of US dollar denominated bonds with a notional amount
   of USD 3.7 billion.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Free cash flow amounted to USD 6.2 billion (+4% USD), compared with USD 6.0 billion
   in the prior-year quarter, driven by higher net cash flows from operating activities.
</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;">Nine months</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">Net cash flows from operating activities amounted to USD 16.9 billion, compared with
   USD 13.4 billion in the prior-year period. This increase was mainly driven by higher
   net income, adjusted for non-cash items and other adjustments, as well as favorable
   changes in working capital.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Net cash outflows used in investing activities amounted to USD 2.8 billion, compared
   with USD 4.5 billion in the prior-year period.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">In the current-year period, net cash outflows used in investing activities were mainly
   driven by USD 1.9 billion for purchases of intangible assets and by USD 1.6 billion
   for acquisitions applying the optional concentration test, net of USD 0.1 billion
   in cash acquired (Anthos Therapeutics, Inc. for USD 0.8 billion and Regulus Therapeutics
   Inc. for USD 0.8 billion). Cash outflows for purchases of property, plant and equipment
   amounted to USD 0.9 billion. These cash outflows were partly offset by the net proceeds
   of USD 1.8 billion from marketable securities and time deposits, 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;">In the prior-year period, net cash outflows used in investing activities of USD 4.5
   billion were mainly driven by USD 3.6 billion for acquisitions and divestments of
   businesses, including the acquisition of Mariana Oncology Inc. for USD 1.0 billion
   (USD 1.04 billion, net of cash acquired of USD 80 million) and the acquisition of
   MorphoSys AG for USD 2.3 billion (USD 2.5 billion, net of cash acquired of USD 0.2
   billion). Cash outflows for purchases of intangible assets amounted to USD 1.9 billion,
   purchases of property, plant and equipment amounted to USD 0.8 billion, and purchases
   of financial assets amounted to USD 0.1 billion. These were partly offset by cash
   inflows of USD 0.9 billion from the sale of financial assets (including USD 0.7 billion
   proceeds from the sale of
</div>
<div style="padding-bottom:10px;"></div>
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   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">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>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Sandoz Group AG shares by consolidated foundations), and by net proceeds of USD 1.0
   billion from marketable securities, commodities and time deposits, 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;">Net cash outflows used in financing activities amounted to USD 16.6 billion, compared
   with USD 8.7 billion in the prior-year period.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">In the current-year period, net cash outflows used in financing activities were mainly
   driven by USD 7.8 billion for the annual dividend payment and USD 7.7 billion for
   net treasury share transactions. Cash outflows also included USD 1.6 billion for the
   repayment of two bonds at maturity, comprising a US dollar denominated bond with a
   notional amount of USD 1.0 billion and a Swiss franc denominated bond with a notional
   amount of CHF 0.5 billion, equivalent to USD 0.6 billion. Cash outflows for lease
   liabilities amounted to USD 0.2 billion. These cash outflows were partly offset by
   cash inflows of USD 1.0 billion from the net increase in current and non-current financial
   debts.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">The prior-year period net cash outflows used in financing activities of USD 8.7 billion
   were mainly driven by USD 7.6 billion for the annual dividend payment, USD 5.5 billion
   for net treasury share transactions, the USD 2.15 billion repayment of a US dollar
   bond at maturity, and the USD 0.3 billion repayments of other current financial debts.
   These cash outflows were partly offset by cash inflows from the issuance of bonds
   totaling USD 6.1 billion (denominated in US dollars with a notional amount of USD
   3.7 billion and in Swiss francs with a notional amount of CHF 2.2 billion, equivalent
   to USD 2.5 billion). The change in current financial debts resulted in net cash inflows
   of USD 1.0 billion.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Free cash flow amounted to USD 15.9 billion (+26% USD), compared with USD 12.6 billion
   in the prior-year period, driven by higher net cash flows from operating activities.
</div>
<div style="padding-bottom:10px;"></div>
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</div><a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">Balance sheet</font></div><a name=""></a><div style="padding-bottom:15px; font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#0070f7; font-weight:bold;">Assets</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;"><b>Total non-current assets </b>of USD 79.1 billion increased by USD 6.5 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 2.1 billion, mainly due to
   acquisitions applying the optional concentration test (Anthos Therapeutics, Inc.,
   Regulus Therapeutics Inc. and a private clinical-stage biotech company), additions,
   and favorable currency translation adjustments, 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 0.8 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 1.0 billion, mainly due to additions
   and favorable currency translation adjustments, 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 1.3 billion, mainly due to an increase in
   prepaid post-employment benefit plans, driven by an increase in the fair value of
   plan assets, a higher discount rate used in calculating the actuarial defined benefit
   obligations, and favorable currency translation effects.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Deferred tax assets increased by USD 1.2 billion. 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 28.2 billion decreased by USD 1.5 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 1.9 billion, as cash inflows from operating
   activities of USD 16.9 billion and net proceeds of USD 1.8 billion from marketable
   securities and time deposits, mainly due to the maturity of time deposits, were more
   than offset by cash outflows of USD 7.8 billion for the annual dividend payment, USD
   7.7 billion for net purchases of treasury shares, USD 1.6 billion for the acquisitions
   applying the optional concentration test, USD 2.8 billion for net purchases of property,
   plant and equipment and intangible assets, and other net cash outflows from investing
   and financing activities, and currency effects of USD 0.7 billion.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Marketable securities, time deposits and derivative financial instruments decreased
   by USD 1.8 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 1.4 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;">Inventories increased by USD 0.7 billion. Other current assets 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 30.5 billion increased by USD 1.1 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 debts increased by USD 1.2 billion, due to unfavorable currency
   translation adjustments.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Provisions and other non-current liabilities, non-current lease liabilities and deferred
   tax 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 32.0 billion increased by USD 3.3 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 0.7
   billion, mainly due to the repayment at maturity of a US dollar denominated bond of
   USD 1.0 billion, and a Swiss franc denominated bond of CHF 0.5 billion, partially
   offset by the issuance of commercial paper notes of USD 0.8 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 2.3 billion, mainly driven
   by the increase in provisions for deductions from revenue.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">Current income tax liabilities increased by USD 1.7 billion. Trade payables and current
   lease liabilities were broadly in line with December 31, 2024.
</div>
<div style="padding-bottom:10px;"></div>
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</div><a name=""></a><div style="padding-bottom:15px; padding-top:15px; font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#0070f7; font-weight:bold;">Equity</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The Company&#x2019;s equity increased by USD 0.6 billion, to USD 44.8 billion compared with
   December 31, 2024.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">This increase was mainly driven by net income of USD 11.6 billion, a favorable impact
   from currency translation differences of USD 2.9 billion, actuarial gains from defined
   benefit plans of USD 0.8 billion, and a favorable impact from equity-based compensation
   of USD 0.8 billion, partially offset by the annual dividends of USD 7.8 billion paid
   to Novartis AG shareholders, and the purchase of treasury shares of USD 7.7 billion.
</div><a name=""></a><div style="padding-bottom:15px; padding-top:15px; font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#0070f7; font-weight:bold;">Net debt and debt/equity ratio</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The Company&#x2019;s liquidity amounted to USD 9.8 billion as at September 30, 2025, compared
   with USD 13.5 billion as at December 31, 2024. Total non-current and current financial
   debts, including derivatives, amounted to USD 30.1 billion as at September 30, 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 of 0.67:1 as at September 30, 2025, was in line with December
   31, 2024. The net debt increased to USD 20.4 billion as at September 30, 2025, compared with USD 16.1 billion as at December 31, 2024.
</div>
<div style="padding-bottom:10px;"></div>
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   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">13</font><div style="padding-bottom:10px;"></div>
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</div><a name=""></a><div style="padding-top:10px;  padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:18pt; color:#000000; font-weight:bold;">Innovation Review</font></div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">Novartis continues to focus its R&amp;D portfolio prioritizing high value medicines with
   transformative potential for patients. We now focus on ~100 projects in clinical development.
</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Selected Innovative Medicines approvals in Q3</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;">Rhapsido</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;"> remibrutinib</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;"> Chronic spontaneous urticaria</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</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;"> China (conditional)</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;"> IgA nephropathy</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> China (conditional)</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;">Pluvicto</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> <br>
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Metastatic castration-resistant <br>  prostate cancer pre/post-taxane
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Japan<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>
      </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; color:#000000;"><I>Coartem</I> Baby</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> artemether and lumefantrine</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)</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Switzerland</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;"> Approved<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 approval<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;"> Approved</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> &#x2013; Positive CHMP opinion</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; 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 (IT <br>  formulation)
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Q2 2025<br>
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Q2 2025<br>
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Q3 2025<br>
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> &#x2013; Japan and China submissions<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;">Pluvicto</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Metastatic castration-resistant <br>  prostate cancer pre-taxane
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Approved<br>
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Q3 2025<br>
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Approved<br>
            </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, Japan approval<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;">Leqvio</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Hypercholesterolaemia, pediatrics</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Q3 2025</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Q3 2025</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;"> &#x2013; US and EU submissions</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>
   </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;"><sup>225</sup>Ac-PSMA-617</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;"> Metastatic castration-resistant prostate <br>  cancer
            </div>
         </td>
         <td align="left" width="1%"></td>
         <td align="left" width="8%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> &#x2265;2028<br>
            </div>
         </td>
         <td align="left" width="1%"></td>
         <td align="left" width="8%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3<br>
            </div>
         </td>
         <td align="left" width="1%"></td>
         <td align="left" width="24%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> <br>
            </div>
         </td>
         <td align="left" width="1%"></td>
      </tr>
      <tr>
         <td 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>Aimovig</I></div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Migraine, pediatrics</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>Cosentyx</I></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;"> &#x2013; PhIII REPLENISH study met primary endpoint</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;">GHZ339</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Atopic dermatitis</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;">JSB462</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 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;"> 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;">KAE609</div>
         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Malaria, uncomplicated</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:#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;">(cipargamin)</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">
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            </div>
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         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2027<br>
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         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3<br>
            </div>
         </td>
         <td align="left"></td>
         <td align="left">
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         <td align="left"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
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         <td align="left">
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         <td align="left">
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         <td align="left">
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      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
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      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
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         <td align="left"></td>
         <td align="left">
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         <td align="left">
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         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3<br>
            </div>
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         <td align="left"></td>
         <td align="left">
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         <td align="left"></td>
      </tr>
      <tr>
         <td style="border-bottom: solid #ffffff 1px;height:1px;"></td>
         <td style="border-bottom: solid #ffffff 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
         <td style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"></div>
         </td>
         <td align="left"></td>
         <td align="left">
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         <td 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>
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      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
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<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>
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      <tr valign="top">
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         <td></td>
         <td align="left">
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         <td></td>
         <td align="left">
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         </td>
         <td></td>
         <td align="left">
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         </td>
         <td align="left" width="1%"></td>
         <td align="left" width="24%">
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         <td align="left" width="1%"></td>
         <td align="left" width="8%">
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         <td align="left" width="1%"></td>
         <td align="left" width="8%">
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         <td align="left" width="24%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
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      <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">
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         </td>
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         <td align="left" width="24%">
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         </td>
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         <td align="left" width="8%">
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         </td>
         <td align="left" width="1%"></td>
         <td align="left" width="8%">
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         <td align="left" width="24%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
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      <tr>
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         <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>
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         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
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      <tr valign="top" bgcolor="#ffffff">
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         </td>
         <td align="left"></td>
         <td align="left">
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         <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>
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         <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>
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         <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>
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         </td>
         <td align="left"></td>
         <td align="left">
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         <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>
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      <tr valign="top" bgcolor="#ffffff">
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         <td align="left"></td>
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      <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>
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      <tr valign="top" bgcolor="#ffffff">
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         <td align="left"></td>
         <td align="left">
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         <td align="left">
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         <td align="left"></td>
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         </td>
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         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
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      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
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      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
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         <td align="left"></td>
         <td align="left">
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         <td align="left">
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      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
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         <td align="left">
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         <td align="left">
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         </td>
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         <td align="left">
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         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
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         <td height="16">
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         <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; FDA 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;">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;"> <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>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<br>  cancer
            </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; PSMAddition data presentation at ESMO<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;"> 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;"> </div>
         </td>
         <td align="left"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
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         <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)
            </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 Fast Track designation <br>  &#x2013; China Breakthrough Therapy 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;">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 disease<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 Fast Track designation <br>  &#x2013; NEPTUNUS-1 and -2 studies met primary <br>  endpoint
            </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 sclerosis</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">
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         </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">
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         </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>
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         <td align="left">
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         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 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">
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         </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>
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      <tr valign="top" bgcolor="#ffffff">
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         </td>
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         <td align="left">
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         </td>
         <td align="left"></td>
         <td align="left">
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         </td>
         <td align="left"></td>
         <td align="left">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3</div>
         </td>
         <td align="left"></td>
         <td align="left">
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         </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">
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         </td>
         <td align="left"></td>
         <td align="left">
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         </td>
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         <td align="left">
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         </td>
         <td align="left"></td>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2</div>
         </td>
         <td align="left"></td>
         <td align="left">
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         </td>
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      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
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         </td>
         <td align="left"></td>
         <td align="left">
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         <td align="left"></td>
         <td align="left">
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         </td>
         <td align="left"></td>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3</div>
         </td>
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         <td align="left">
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         </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">
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         </td>
         <td align="left"></td>
         <td align="left">
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            </div>
         </td>
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            </div>
         </td>
         <td align="left"></td>
         <td align="left">
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            </div>
         </td>
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      </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 sclerosis</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;"> </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 colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
   </table>
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<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">
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<a name="anchorId00216994"></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="anchorId00216997"></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>Third 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;"> Q3 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q3 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;909</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;"> 12&nbsp;823</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;"> 449</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 349</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;539</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -3&nbsp;234</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;819</div>
         </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;938</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;308</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -3&nbsp;134</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;944</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -2&nbsp;392</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;"> 269</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 355</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="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;"> -335</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1&nbsp;140</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;501</div>
         </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;627</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;"> -4</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -4</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="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;"> -281</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -264</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;"> -20</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 26</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <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;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;"> 3&nbsp;385</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;"> -266</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -200</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;930</div>
         </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;185</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;928</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#666666;"> 3&nbsp;189</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">&nbsp;&nbsp;&nbsp;Non-controlling interests</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> 2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#666666;"> -4</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Weighted average number of shares outstanding &#x2013; Basic (million)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;926</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2&nbsp;012</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;"> 2.04</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 1.58</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;940</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2&nbsp;027</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;"> 2.02</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 1.57</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;">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="anchorId00217475"></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>Nine months to September 30</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;"> 9M 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> 9M 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;"> 41&nbsp;196</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;"> 37&nbsp;164</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other revenues</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 9</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;618</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;000</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;"> -10&nbsp;088</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -9&nbsp;503</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; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 32&nbsp;726</div>
         </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;661</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;"> -9&nbsp;808</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -9&nbsp;065</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;"> -8&nbsp;037</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -7&nbsp;180</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;043</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 877</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;"> -1&nbsp;896</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -2&nbsp;279</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; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 14&nbsp;028</div>
         </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;014</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;"> -10</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -35</div>
         </td>
         <td align="right"></td>
      </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;"> -840</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -731</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;"> -44</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 107</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; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 13&nbsp;134</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 10&nbsp;355</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Income taxes</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1&nbsp;571</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1&nbsp;236</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 11&nbsp;563</div>
         </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;119</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Attributable to:</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">&nbsp;&nbsp;&nbsp;Shareholders of Novartis AG</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> 11&nbsp;575</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#666666;"> 9&nbsp;123</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">&nbsp;&nbsp;&nbsp;Non-controlling interests</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> -12</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#666666;"> -4</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Weighted average number of shares outstanding &#x2013; Basic (million)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;947</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2&nbsp;029</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;"> 5.94</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 4.50</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;961</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;">Diluted earnings per share (USD)<sup style="white-space: nowrap">&nbsp;1</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 5.90</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;"> 4.46</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="8">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="8">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</sup> Earnings per share (EPS) is calculated on the amount of net income attributable to
               shareholders of Novartis AG.&nbsp;&nbsp;
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="8">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">The accompanying Notes form an integral part of the condensed 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="anchorId00217966"></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>Third 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;"> Q3 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q3 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;930</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;"> 3&nbsp;185</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;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-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; 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;">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; 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>
         <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 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;"> </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;"> -25</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; 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;"> 5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -65</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; 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;"> </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;"> 1&nbsp;310</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;">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;"> </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;"> 1&nbsp;220</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:#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>
         <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="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;Actuarial gains/(losses) from defined benefit plans, net of taxes</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </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:#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="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;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 57</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -34</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;">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;"> </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:#666666;"> -50</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:#666666;"> </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 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; font-weight:bold; color:#000000;"> 366</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 1&nbsp;170</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:#666666;"> </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 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;"> 4&nbsp;296</div>
         </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;355</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;">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; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">&nbsp;&nbsp;&nbsp;Shareholders of Novartis AG</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> 4&nbsp;293</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#666666;"> 4&nbsp;354</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">&nbsp;&nbsp;&nbsp;Non-controlling interests</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> 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;"> 1</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 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-top:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>Nine months to September 30</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;"> 9M 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> 9M 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;"> 11&nbsp;563</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;"> 9&nbsp;119</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;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Other comprehensive income</div>
         </td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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; font-weight:bold; color:#000000;">Items that are or may be recycled into the consolidated income statement</div>
         </td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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>
         <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 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;"> </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;"> -25</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; 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;"> 5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -231</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -14</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="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;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;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;853</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -54</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;">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;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;624</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -93</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:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Items that will never be recycled into the consolidated income statement</div>
         </td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <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="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;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;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 767</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="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;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;"> </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;"> 85</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 771</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 205</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="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:#666666;"> </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 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; font-weight:bold; color:#000000;"> 3&nbsp;395</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 112</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:#666666;"> </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 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;"> 14&nbsp;958</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 9&nbsp;231</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;">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; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">&nbsp;&nbsp;&nbsp;Shareholders of Novartis AG</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> 14&nbsp;967</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#666666;"> 9&nbsp;234</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">&nbsp;&nbsp;&nbsp;Non-controlling interests</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> -9</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#666666;"> -3</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></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>
      <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="anchorId00218713"></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;"> Sep 30, <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;"> 10&nbsp;476</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;515</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;"> 25&nbsp;551</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;"> 29&nbsp;037</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;"> 85</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;576</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;"> 2&nbsp;068</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;783</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;"> 79&nbsp;091</div>
         </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;"> 6&nbsp;421</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;844</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;"> 140</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, 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;"> 197</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;"> 9&nbsp;556</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;040</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;"> 28&nbsp;198</div>
         </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;"> 107&nbsp;289</div>
         </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;"> -44</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;"> 43&nbsp;608</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;"> 44&nbsp;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;"> 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;"> 422</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;"> 44&nbsp;752</div>
         </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;"> 22&nbsp;598</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;640</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;171</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;128</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;"> 30&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:#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;555</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;520</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;"> 264</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;"> 3&nbsp;342</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;319</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;"> 32&nbsp;000</div>
         </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;"> 62&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:#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;"> 107&nbsp;289</div>
         </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;">19</font><div style="padding-bottom:10px;"></div>
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</div><a name="anchorId00219386"></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>Third 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%">
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            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
         </td>
         <td></td>
         <td align="center" colspan="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>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
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            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"> </div>
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         <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>
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      <tr bgcolor="white">
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         <td height="1"></td>
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         <td height="1"></td>
         <td height="1"></td>
         <td height="1"></td>
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         <td height="1"></td>
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         <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 July 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;"> 766</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -33</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 41&nbsp;527</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;"> -275</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 41&nbsp;985</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;"> 69</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;"> 42&nbsp;054</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;928</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;928</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3&nbsp;930</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;"> 365</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 365</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;"> 366</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;928</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 365</div>
         </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;293</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 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:#000000;"> 4&nbsp;296</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Purchase of treasury shares</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -11</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2&nbsp;134</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;145</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;145</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;"> 0</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 284</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 284</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 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;">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;"> -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;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">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;"> -91</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -91</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 350</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 259</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;">   -8</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   8</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other movements</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 4.3</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;"> 5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 5</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total of other equity movements</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -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;"> -1&nbsp;945</div>
         </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;"> -1&nbsp;948</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 350</div>
         </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;598</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 September 30, 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;"> -44</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 43&nbsp;510</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 98</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 44&nbsp;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:#000000;"> 422</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 44&nbsp;752</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 July 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;"> 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:#666666;"> -25</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 45&nbsp;836</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -4&nbsp;871</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&nbsp;733</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;"> 169</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&nbsp;902</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;"> 3&nbsp;189</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;"> 3&nbsp;189</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -4</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 3&nbsp;185</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;165</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;165</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;170</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;"> 3&nbsp;189</div>
         </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;165</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 4&nbsp;354</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 4&nbsp;355</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Purchase of treasury shares</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -15</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -2&nbsp;952</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -2&nbsp;967</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -2&nbsp;967</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;"> 33</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 33</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 33</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="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;"> 0</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 265</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-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;"> 265</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-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;"> 265</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;">   0</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   0</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   </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="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;"> -35</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-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;"> -35</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-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;"> -35</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Changes in non-controlling interests</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -4</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -4</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Fair value adjustments on financial assets sold</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 22</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>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-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;">Impact of change in ownership of consolidated entities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size: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;"> -70</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-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;"> -70</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -42</div>
         </td>
         <td align="right"></td>
         <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="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;"> 4</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 4</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 4</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total of other equity movements</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -15</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -2&nbsp;733</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -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:#666666;"> -2&nbsp;770</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -46</div>
         </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;816</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 September 30, 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;"> -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:#666666;"> 46&nbsp;292</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -3&nbsp;728</div>
         </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;317</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 124</div>
         </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;441</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;">20</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name="anchorId00220991"></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>Nine months to September 30</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>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total equity at January 1, 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;"> 11&nbsp;575</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 11&nbsp;575</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;"> &#x2013;&#x2005; 12</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 11&nbsp;563</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;"> 3&nbsp;392</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3&nbsp;392</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3&nbsp;395</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total comprehensive income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 11&nbsp;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:#000000;"> 3&nbsp;392</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 14&nbsp;967</div>
         </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;"> 14&nbsp;958</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;"> -40</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -7&nbsp;614</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;654</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;654</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">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;"> 7</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 834</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 841</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 841</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;"> -34</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </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;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -34</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">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;"> -90</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </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;"> 351</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 261</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;">   39</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   -39</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="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;"> 72</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 72</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 72</div>
         </td>
         <td align="right"></td>
      </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;"> 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;"> -14&nbsp;626</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -39</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -14&nbsp;683</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 351</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -14&nbsp;332</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 September 30, 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;"> -44</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 43&nbsp;510</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 98</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 44&nbsp;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:#000000;"> 422</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 44&nbsp;752</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-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;"> 9&nbsp;123</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;"> 9&nbsp;123</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -4</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="5%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 9&nbsp;119</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;"> 111</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 111</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 112</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;"> 9&nbsp;123</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 111</div>
         </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;234</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -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;"> 9&nbsp;231</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;"> -30</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -5&nbsp;750</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -5&nbsp;780</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -5&nbsp;780</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;"> -2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <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;"> </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="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;"> 5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 812</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-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;"> 817</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-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;"> 817</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;">   12</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-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;">   12</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-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;">   12</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">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;"> -27</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-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;"> -27</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-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;"> -27</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Changes in non-controlling interests</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -4</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -4</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="18" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Fair value adjustments on financial assets sold</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 73</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -73</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-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;">Impact of change in ownership of consolidated entities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size: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;"> -98</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-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;"> -98</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 48</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="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;"> 118</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-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;"> 118</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-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;"> 118</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;"> 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;"> -12&nbsp;480</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -73</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -12&nbsp;584</div>
         </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</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -12&nbsp;540</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 September 30, 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;"> -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:#666666;"> 46&nbsp;292</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -3&nbsp;728</div>
         </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;317</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 124</div>
         </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;441</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;">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="anchorId00222730"></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>Third 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;"> Q3 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q3 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;930</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;"> 3&nbsp;185</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;261</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2&nbsp;626</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;"> 61</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="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;"> -290</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -239</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Change in other financial receipts</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -82</div>
         </td>
         <td align="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 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;"> -7</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;">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;"> -366</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -285</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;507</div>
         </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;462</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;"> -272</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -216</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;336</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;040</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;"> 6&nbsp;571</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 6&nbsp;286</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;"> -354</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -321</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;"> 1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1</div>
         </td>
         <td align="right"></td>
      </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;"> -477</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>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Proceeds from sale of intangible assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 52</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="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;"> -23</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="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;"> 140</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 226</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="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 other non-current assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -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;">Proceeds from sale of other non-current assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </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;">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;"> -12</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 of businesses</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;"> 1</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="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 applying the optional concentration test</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6.4</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -94</div>
         </td>
         <td align="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;">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;"> 6.5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -64</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 7</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;">Investments in time deposits and marketable securities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </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:#666666;"> -958</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 time deposits and from sale of marketable securities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 39</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;248</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net cash flows used in 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;"> -860</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -374</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Purchases of treasury shares</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2&nbsp;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;854</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;"> 2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 5</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Proceeds from non-current financial debts</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 135</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 3&nbsp;670</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;"> -9</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="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;"> -564</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -807</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Repayments of other current financial debts</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -289</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;"> -73</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -64</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Payments from changes in ownership interests in consolidated subsidiaries</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -90</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other 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;"> 22</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 2px;"></td>
      </tr>
      <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;"> -2&nbsp;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:#666666;"> -382</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;"> 2&nbsp;922</div>
         </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;530</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;"> -22</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="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net change in cash and cash equivalents</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 2&nbsp;900</div>
         </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;706</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 July 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;"> 6&nbsp;656</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 7&nbsp;903</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 September 30</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-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;"> 9&nbsp;556</div>
         </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;609</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;">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="anchorId00223496"></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>Nine months to September 30</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;"> 9M 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> 9M 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;"> 11&nbsp;563</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;"> 9&nbsp;119</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;"> 7&nbsp;927</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 7&nbsp;523</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Dividends received from associated companies and others</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 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;">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;"> 222</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 347</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;"> -770</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -641</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other financial receipts</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 316</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other 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;"> -20</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="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;"> -1&nbsp;581</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1&nbsp;334</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;"> 17&nbsp;658</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 14&nbsp;984</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;"> -788</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -847</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;"> 10</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -711</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;"> 16&nbsp;880</div>
         </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;426</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;"> -939</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -808</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;"> 12</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 39</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="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;944</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1&nbsp;875</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Proceeds from sale of intangible assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 52</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 43</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="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;"> -63</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -145</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;"> 185</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 936</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 other non-current assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -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;">Proceeds from sale of other non-current assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </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;">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;"> -9</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -8</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Acquisitions of businesses</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;"> -126</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -3&nbsp;592</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 applying the optional concentration test</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6.4</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1&nbsp;631</div>
         </td>
         <td align="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;">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;"> 6.5</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;"> -57</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;">Investments in time deposits and marketable securities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </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;"> -1&nbsp;198</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 time deposits and from sale of marketable securities and commodities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;920</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2&nbsp;184</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net cash flows used in investing activities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -2&nbsp;773</div>
         </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;480</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Dividends paid to shareholders of Novartis AG</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 4.1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -7&nbsp;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="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;"> -7&nbsp;732</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -5&nbsp;569</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;"> 23</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 30</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Proceeds from non-current financial debts</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 135</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 6&nbsp;143</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;622</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -2&nbsp;150</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;"> 842</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 982</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Repayments of other current financial debts</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -289</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;"> -208</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -190</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Payments from changes in ownership interests in consolidated subsidiaries</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -137</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="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;"> -170</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="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;"> -16&nbsp;550</div>
         </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;746</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;"> -2&nbsp;443</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 200</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;"> 540</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 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net change in cash and cash equivalents</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -1&nbsp;903</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 216</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 September 30</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-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;"> 9&nbsp;556</div>
         </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;609</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>
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</div><a name="anchorId00224308"></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 and nine month period ended September 30, 2025 (unaudited)</p><a name="anchorId00224312"></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 and
   nine month period ended September 30, 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="anchorId00224320"></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 yet
   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 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 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>
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</div><a name="anchorId00224346"></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 following are the signi&#xfb01;cant acquisitions of businesses where the Company applied
   the business combination acquisition method of accounting.
</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;">2025</font></div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">In the &#xfb01;rst nine months of 2025, there were no acquisitions of businesses where the
   Company applied the business combination acquisition method of accounting.
</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;">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>
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</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 acquired through business combinations</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">In the first nine months of 2025, there were no business combinations. The following
   table presents the fair value of the assets and liabilities acquired through business
   combinations 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;">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 business combinations</div>
         </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="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The significant business combinations in 2024, were Kate Therapeutics, Mariana Oncology
   and MorphoSys. The goodwill arising out of 2024 business combinations 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:15px;padding-top:30px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The following are the significant acquisitions where Novartis elected to apply the
   optional concentration test to determine that the transaction is not a business combination
   within the meaning of IFRS Accounting Standards and accounted for the acquisition
   as assets 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;">2025</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;">Option agreement to acquire a private clinical-stage biotech company</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">On September 16, 2025, Novartis entered into an agreement granting it an option to
   acquire all outstanding shares of a private clinical-stage biotech company (the &#x201c;Biotech
   company&#x201d;). The option is subject to pre-defined terms and is exercisable at Novartis
   sole discretion. Management concluded that
</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>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">the terms of the option agreement conferred substantive control over the Biotech company,
   in accordance with the principles of IFRS Accounting Standards. Consequently, the
   Biotech company was consolidated into Novartis consolidated financial statements effective
   from September 2025.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">If Novartis exercises the option to acquire, it would make a payment to the Biotech
   company&#x2019;s shareholders, with potential additional payments, which they are eligible
   to receive upon achievement of specified milestones. The optional concentration test
   was applied as it indicated that substantially all of the fair value of the gross
   assets at the consolidation date was concentrated in an identifiable IPR&amp;D intangible
   asset.
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">The purchase price as at the option agreement date was USD 0.4 billion. The amount
   was allocated to the net assets at the consolidation date, including USD 0.4 billion
   IPR&amp;D intangible assets and USD 18 million in cash and cash equivalents. A non-controlling
   interest of USD 0.4 billion was recognized in equity. Subsequent milestone-related
   payments will be recognized as additions to the intangible asset when the specific
   milestones are achieved.
</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 Regulus Therapeutics Inc.</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">On April 30, 2025, Novartis entered into an agreement and plan of merger (&#x201c;the Merger
   Agreement&#x201d;) to acquire Regulus Therapeutics Inc. (&#x201c;Regulus&#x201d;), a US-based, publicly
   traded clinical-stage biopharmaceutical company focused on developing microRNA therapeutics.
   Regulus lead development phase asset, farabursen, is a potential &#xfb01;rst-in-class, next-generation
   oligonucleotide targeting miR-17 for the treatment of autosomal dominant polycystic
   kidney disease (ADPKD).
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">Pursuant to the Merger Agreement, on May 27, 2025, Novartis, through an indirect,
   wholly owned subsidiary, commenced a tender offer (the &#x201c;Offer&#x201d;) to acquire all of
   the outstanding shares of common stock of Regulus in exchange for (i) USD 7.00 in cash per Share, plus (ii) one contingent value right (each, a &#x201c;CVR&#x201d;) per Share,
   representing the right to receive one contingent payment of USD 7.00 in cash, upon the achievement of a speci&#xfb01;ed regulatory milestone. The tender offer
   expired at one minute past 11:59 p.m., New York City time on June 24, 2025 with a
   payment of USD 0.7 billion for the outstanding shares to the Regulus shareholders for their tendered
   shares and the issuance of 1 CVR per share. Additionally, the liability related to the Regulus employee share
   plans amounted to USD 0.1 billion and was paid on July 11, 2025, with the issuance of 1 CVR per share. On June 25, 2025, the acquiring subsidiary merged with and into Regulus,
   resulting in Regulus becoming an indirect wholly owned subsidiary of Novartis, and
   Regulus shares admitted to trading on NASDAQ were voluntary delisted.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">The purchase price consisted of cash consideration of USD 0.8 billion and CVRs of up to USD 0.9 billion, which Regulus shareholders are eligible to receive upon the achievement
   of a specified regulatory milestone. The optional concentration test was applied as
   it indicated that substantially all of the fair value of the gross assets acquired
   was concentrated in an identifiable IPR&amp;D intangible asset.
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">The cash purchase price was allocated to IPR&amp;D intangible asset of USD 0.8 billion, and other net assets including cash and cash equivalents of USD 23 million. Subsequent payments for the potential CVRs upon achievement of the speci&#xfb01;ed
   regulatory milestone will be recognized as additions to the intangible asset if the
   speci&#xfb01;ed regulatory milestone is achieved.
</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 Anthos Therapeutics, Inc.</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">On February 10, 2025, Novartis entered into an agreement and plan of merger to acquire
   Anthos Therapeutics, Inc. (&#x201c;Anthos&#x201d;), a US-based, clinical stage biopharmaceutical
   company with abelacimab, a late-stage medicine in development for the prevention of
   stroke and systematic embolism in patients with atrial fibrillation. The transaction
   closed on April 3, 2025.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">The purchase price consisted of cash consideration of USD 0.9 billion and potential additional milestones of up to USD 2.1 billion, which Anthos shareholders are eligible to receive upon the achievement of
   specific milestones. The optional concentration test was applied as it indicated that
   substantially all of the fair value of the gross assets acquired was concentrated
   in an identifiable IPR&amp;D intangible asset.
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">The cash purchase price was allocated to IPR&amp;D intangible asset of USD 0.9 billion, and other net assets including cash and cash equivalents of USD 47 million. Subsequent payments for the potential additional milestones will be recognized
   as additions to the intangible asset when the specific milestones have been achieved.

</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;">2024</font></div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">There were no acquisitions in 2024 where the Company elected to apply the optional
   concentration test to account for acquisitions as assets separately acquired.
</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: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">Identifiable net assets acquired through acquisitions applying the optional concentration
      test</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">In the first nine months of 2025, the following table presents the identifiable net
   assets acquired through acquisitions applying the optional concentration test:
</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;"> Sep 30, <br> 2025
            </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:#000000;"> 4</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:#000000;"> 8</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">In-process research and development</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;021</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<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;"> 133</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:#000000;"> 21</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 current assets</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>
      </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:#000000;"> 88</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:#000000;"> -8</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Trade payables and other liabilities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -96</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;">Identifiable net assets acquired</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 2&nbsp;207</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="4">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="4">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</sup> Deferred tax assets are attributable to tax loss and tax credit carryforwards.
            </div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">For significant pending transactions, see Note 10. Other interim disclosures &mdash; Commitments &mdash; Other commitments. </div><a name="anchorId00224976"></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;"> 9M 2025<br> USD millions
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> 9M 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;"> -66.4</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;"> -52.7</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;"> -7&nbsp;487</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;"> -5&nbsp;656</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;"> -1.6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1.1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -167</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -124</div>
         </td>
         <td align="right"></td>
      </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;"> 11.6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 9.0</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 841</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 815</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;"> -34</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -27</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="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;"> 11&nbsp;575</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 9&nbsp;123</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;"> 3&nbsp;392</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 111</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="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;"> -90</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -98</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;"> 72</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 130</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 September 30</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </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;918.8</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;"> 1&nbsp;999.3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 44&nbsp;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;"> 43&nbsp;317</div>
         </td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
      </tr>
      <tr>
         <td colspan="12" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
   </table>
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">4.1. The annual gross dividend to shareholders of Novartis AG amounted to USD 7.8 billion (2024: USD 7.6 billion). </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. 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 of 8.7 million shares concluded in October 2024. In June 2025, Novartis
   amended the arrangement to include the repurchase of an additional 10.7 million Novartis shares on the second trading line to mitigate the impact of share
   deliveries under the equity-based compensation plans for employees. These additional
   repurchases of 10.7 million shares concluded in August 2025.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">The repurchases under the USD 15.0 billion share buyback that commenced in July 2023
   concluded in July 2025. In July 2025, Novartis amended and restated the arrangement
   to repurchase Novartis shares on the second trading line under its new up-to USD 10.0
   billion share buyback. Novartis is able to cancel this amended and restated arrangement
   at any time but may be subject to a 90-day waiting period. As of September 30, 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 September 30, 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>
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   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">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="anchorId00225387"></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>
<div style="padding-top:15px;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 September 30, 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: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;"> Sep 30, <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;"> Sep 30, <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;"> Sep 30, <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;"> Sep 30, <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;"> </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;"> </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;"> </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;"> </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;"> 85</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;"> 85</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;">   85</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#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;">   85</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#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;"> 114</div>
         </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;"> 114</div>
         </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;"> 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:#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;"> 14</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#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;"> 46</div>
         </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;"> 210</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;"> 7</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 7</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 499</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;"> 716</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;"> 9</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;"> 172</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;"> 181</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;"> 746</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;"> 746</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;"> 219</div>
         </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;"> 7</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 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;417</div>
         </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;643</div>
         </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;"> 76</div>
         </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;"> 76</div>
         </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;"> -182</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;"> -182</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;"> -72</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;"> -72</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;"> -72</div>
         </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;"> -182</div>
         </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;"> -254</div>
         </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;"> -494</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -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;"> -494</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -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;">In the first nine months of 2025, there was one transfer of equity securities from
   Level 3 to Level 1 for USD 3 million due to Initial Public Offering.
</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 September 30, 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 0.2 billion at September 30, 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 September 30, 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; text-indent:20.0pt;">The fair value of straight bonds amounted to USD 22.5 billion at September 30, 2025 (USD 22.5 billion at December 31, 2024) compared with the carrying amount of USD 23.7 billion at September 30, 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;margin-top:15px;">In the second quarter 2025, the Company has designated a certain portion of its long-term
   euro-denominated straight bonds, maturing in 2030 and 2038, as hedges of the translation
   risk arising on certain net investments in foreign operations with euro functional
   currency. This is in addition to the certain portion of its long-term euro-denominated
   straight bonds maturing in 2028 that was designated as a hedge instrument as at December
   31, 2024. As of September 30, 2025, long-term financial debt with a total carrying
   amount of EUR 3.3 billion (USD 3.9 billion) (December 31, 2024: EUR 1.8 billion (USD 1.9 billion)), have been designated as a hedge instrument. In the first nine months of
   2025, USD 231 million, net of taxes of unrealized losses (Q3 2025: USD 2 million of unrealized gains; first nine months of 2024: USD 14 million; Q3 2024: USD 65 million of unrealized losses) was recognized in other comprehensive income and accumulated
   in currency translation effects in relation with these net investment hedges. The
   hedges remained effective since inception, and no amount was recognized in the consolidated income statement in the first nine months
   and third quarter of 2025 and 2024.
</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>
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   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name="anchorId00226383"></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="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The following tables show the reversal of non-cash items and other adjustments in
   the consolidated statements of cash flows.
</div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">(USD millions)</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> Q3 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q3 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;"> 246</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;"> 222</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;"> 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="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Intangible assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;049</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;676</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;"> -72</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="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;"> 43</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;">Losses/(gains) on disposal on property, plant and equipment; intangible assets; other
               non-current assets;  and other adjustments on financial assets and other non-current assets, net
            </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   81</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;">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;"> 268</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 255</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;"> 4</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 4</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="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;"> 266</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 200</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;"> 301</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 238</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="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;"> 6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -44</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 2&nbsp;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;"> 2&nbsp;626</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="6">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="6">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</sup> Includes fair value changes
            </div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;">(USD millions)</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> 9M 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> 9M 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;"> 708</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;"> 669</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;"> 202</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 191</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="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;"> 2&nbsp;864</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 3&nbsp;581</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;"> -35</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 13</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">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;"> 890</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 531</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/(gains) on disposal on property, plant and equipment; intangible assets; other
               non-current assets;  and other adjustments on financial assets and other non-current assets, net
            </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   36</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   -21</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;"> 797</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 772</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;"> 10</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 35</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Income taxes</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;571</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;236</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;"> 884</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 624</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;"> </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="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;"> 7&nbsp;927</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 7&nbsp;523</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;"> Q3 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q3 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> 9M 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> 9M 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;">(Increase)/decrease in inventories</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -128</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;"> 90</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;"> -117</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;"> -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;">Decrease/(increase) in trade receivables</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 180</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 328</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1&nbsp;030</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1&nbsp;093</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Decrease 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;"> -60</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;"> -375</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -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;">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;"> 392</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>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 140</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -429</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Change in other current liabilities</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 952</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 783</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;392</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;527</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 1&nbsp;336</div>
         </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;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;"> 10</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -711</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 3px;"></td>
      </tr>
   </table>
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">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=""></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 related to acquisitions of businesses</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The following table is a summary of the cash flow impact of acquisitions 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;"> Q3 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q3 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> 9M 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> 9M 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; font-weight:bold; color:#000000;">Total purchase consideration for acquisitions of businesses</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </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;"> -6</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;"> </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;"> -4&nbsp;111</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Acquired cash and cash equivalents</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-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;"> 236</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Contingent consideration payable, net</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1</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;"> -126</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 286</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Payments, deferred considerations and other adjustments, net</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </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>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -3</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;">Acquisitions of businesses<sup style="white-space: nowrap">&nbsp;1</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 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;"> -58</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -126</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -3&nbsp;592</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> The first nine months of 2024 included the payments for purchases of MorphoSys shares
               by Novartis during the Offer period totaling EUR  0.3  billion (USD  0.3  billion), see Note 3 for further information (Q3 2024: nil). Also included in the
               first nine months of 2024 and the third quarter of 2024 is a payment of EUR  53  million (USD  58  million) in relation to the MorphoSys acquisition.
            </div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">Note 3 provides disclosure of the fair value of assets and liabilities acquired through
   business combinations. All considerations paid for acquisitions were in cash.
</div><a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">6.4. Cash flows used for acquisitions by applying the optional concentration test
      </font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">In 2025, the total cash consideration paid for acquisitions where the Company elected
   to apply the optional concentration test to determine that the transaction is not
   a business combination within the meaning of IFRS Accounting Standards, and to account
   for the acquisition as assets separately acquired amounted to USD 1.6 billion (Q3 2025: USD 0.1 billion), net of cash and cash equivalents acquired of
   USD 88 million (Q3 2025: USD 18 million). In 2024 there were no acquisitions where the Company
   elected to apply the optional concentration test.
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">Note 3 provides disclosure of the identifiable net assets acquired through acquisitions
   where the Company elected to apply the optional concentration test. All consideration
   paid for acquisitions were in cash.
</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;">6.5. Cash flows related to divestments of businesses </font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The following table is a summary of the cash flow impact of 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;"> Q3 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q3 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> 9M 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> 9M 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; font-weight:bold; color:#000000;">Total consideration from divestments of businesses</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 7</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;"> </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;"> 7</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;"> </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;">Divested 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;"> -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:#000000;"> -3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Payments, deferred considerations and other adjustments, net</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -68</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;"> -83</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -57</div>
         </td>
         <td align="right"></td>
      </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;">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;"> -64</div>
         </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;"> -79</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -57</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> In the first nine months of 2025, USD 79 million (Q3 2025: USD 64 million) represented
               the net cash outflows from divestments related to both the current and prior years,
               including USD 15 million (Q3 2025: USD 15 million) in net sale proceeds from a divestment.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="10">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;">&nbsp;&nbsp;&nbsp;<sup>&nbsp;</sup> In the first nine months of 2024, USD 57 million (Q3 2024: USD 7 million, net cash
               inflows) represented the net cash outflows from divestments in prior years.
            </div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">All considerations received from divestments were in cash.</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 assets derecognized related to divestments of businesses </font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The following table presents the net assets derecognized related to divestments of
   businesses, summarized by major categories:
</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;"> Sep 30, <br> 2025
            </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;">Non-current assets</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="20%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7</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;">Current assets (excl. 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;"> 25</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:#000000;"> 3</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 and current liabilities</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>
      </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 assets divested</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 12</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="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:#000000;"> -5</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 consideration from divestments 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;"> 7</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 3px;"></td>
      </tr>
   </table>
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">In the first nine months of 2024, there were no divestments of businesses.</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><a name="anchorId00227369"></a><div style="font-family:arial,helvetica,sans-serif; font-size:18pt; color:#000000; font-weight: bold; margin-bottom:20px;margin-top:30px;">7. Legal proceedings update</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">A number of Novartis companies are, and will likely continue to be, subject to various
   legal proceedings, including litigations, arbitrations and governmental investigations,
   that arise from time to time. Legal proceedings are inherently unpredictable. As a
   result, the Company may become subject to substantial liabilities that may not be
   covered by insurance and may in the future incur judgments or enter into settlements
   of claims that could have a material adverse effect on its results of operations or
   cash flow. Note 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. The following
   is a summary as of October 27, 2025, of significant developments in those proceedings,
   as well as any new significant proceedings commenced since the date of the 2024 Annual
   Report and 2024 Form 20-F.
</div><a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">Investigations and related litigations</font></div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Inflation Reduction Act (IRA) litigation</font></div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">In 2023, following the U.S. government&#x2019;s selection of <i>Entresto </i>for the first round of the IRA&#x2019;s &#x201c;Medicare Drug Price Negotiation Program,&#x201d; NPC filed
   a complaint in the U.S. District Court (USDC) for the District of New Jersey on the
   grounds that those drug price-setting provisions are unconstitutional under the First,
   Fifth and Eighth Amendments to the U.S. Constitution. In October 2024, the court granted
   the government&#x2019;s motion for summary judgment. NPC appealed to the Third&nbsp;Circuit.&nbsp;In September 2025, the Third Circuit affirmed.
</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;">Shareholder derivative lawsuit</font></div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">In 2021, NPC, Sandoz Inc., Novartis Capital Corporation and certain present and former
   directors and officers of Novartis were named as defendants, and Novartis was named
   as a nominal defendant, in a purported shareholder derivative lawsuit filed in New
   York State Court. The plaintiffs, derivatively as purported Novartis shareholders
   on behalf of Novartis, seek damages and other remedies based on alleged conduct by
   the corporate and individual defendants. In 2022, the court granted Novartis motion
   to dismiss the lawsuit, which the plaintiffs have appealed.  In July 2025, the plaintiffs
   dismissed their appeal.
</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;">Lucentis/Avastin&#xae; matters</font></div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">In 2019, the French Competition Authority (FCA) issued a Statement of Objections against
   Novartis entities, alleging anti-competitive practices on the French market for anti-vascular
   endothelial growth factor treatments for wet age-related macular degeneration from
   2008 to 2013. In 2020, the FCA issued a decision finding that the Novartis entities
   had infringed competition law by abusing a dominant position and imposing a fine equivalent
   to approximately USD 452 million. Novartis paid the fine, again subject to recoupment, and appealed the FCA&#x2019;s
   decision. In February 2023, the Paris Court of Appeal (Court) overturned the FCA&#x2019;s
   decision which triggered the reimbursement of the originally paid fine (recorded as
   &#x201c;Other income&#x201d; in the Company&#x2019;s consolidated income statement), and, in March 2023,
   the FCA appealed the Court&#x2019;s decision. In June 2025, France&#x2019;s Supreme Court (SC) overturned
   the Court&#x2019;s decision and sent the case back to the Court for further proceedings.
   The SC decision entitles the FCA to re-impose its original fine on Novartis pending
   appeal. Novartis recorded in June 2025 a USD 443 million expense related to this matter (recorded to &#x201c;Other Expense&#x201d; in the Company&#x2019;s
   consolidated income statement). Novartis is the subject of similar investigations
   and proceedings involving the competition authority in Greece and is currently in
   an appeal process in T&#xfc;rkiye. Novartis continues to vigorously contest all claims.
   Novartis is also challenging policies and regulations allowing off-label/unlicensed
   use and reimbursement for economic reasons in T&#xfc;rkiye.
</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;">Greece investigation</font></div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The Greek authorities are investigating legacy allegations of potentially inappropriate
   economic benefits to healthcare providers (HCPs), government officials and others
   in Greece. These authorities include the Greek Coordinating Body for Inspection and
   Control, and the Greek Body of Prosecution of Financial Crime (SDOE), from which the
   Company received a summons in 2018 and 2020. Novartis has cooperated in these investigations.
   In 2021, SDOE imposed on Novartis Hellas a fine equivalent to approximately USD  1.2 million; Novartis Hellas appealed the fine and, in September 2023, the Court overturned
   the decision and fine. The Greek State filed an appeal. In 2022, the Greek State served
   a civil lawsuit on Novartis Hellas, seeking approximately USD 225 million for moral damages allegedly arising from the conduct that was the subject
   of the Company&#x2019;s 2020 settlement with the US Department of Justice regarding allegations
   of inappropriate economic benefits in Greece that was disclosed in the 2020 Annual
   Report and the 2020 Form 20-F. In May 2025, the court published a decision rejecting
   the claims of the Greek State, which the Greek State appealed in October 2025. In
   June 2025, the National Social Security Fund of Greece filed a civil lawsuit against
   Novartis seeking approximately EUR 229 million for moral damages arising from the same facts.  The claims will be vigorously
   contested.
</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">340B Drug Pricing Program litigation</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">NPC has brought litigation challenging a number of state statutes purporting to add
   further obligations on manufacturers under the federal 340B program as to the use
   of contract pharmacies in those states. NPC has also brought litigation challenging
   the federal government&#x2019;s refusal to allow NPC to apply a rebate payment model for
   the 340B program. In addition, in 2021 and 2023, two medical centers filed Administrative
   Dispute Resolution proceedings against NPC, seeking the return of alleged overcharges
   resulting from NPC&#x2019;s contract pharmacy policy. NPC moved
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">32</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">to dismiss these proceedings. In June 2025, HRSA informed NPC that it found no overcharge
   in the 2023 case and dismissed the petition. Also in 2021, NPC received a civil investigative
   subpoena from the Office of the Attorney General of the State of Vermont (Vermont
   AG) requesting the production of documents and information concerning NPC&#x2019;s participation
   in the 340B Drug Pricing Program in Vermont. NPC responded by providing documents
   and information to the Vermont AG in 2021 and there have been no further actions since
   that time.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">In addition to the matters described above, there have been other non-material developments
   in the other legal matters described in Note 20 to the Consolidated Financial Statements
   contained in our 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="anchorId00227424"></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;">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="anchorId00227439"></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>Third 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;"> Q3 2025<br> USD m
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q3 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;"> Q3 2025<br> % of total
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q3 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;"> 6&nbsp;036</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;"> 5&nbsp;410</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;"> 12</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;"> 12</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;"> 42</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Europe</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 4&nbsp;251</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 3&nbsp;964</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;"> 2</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;"> 31</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;666</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2&nbsp;534</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;"> 4</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;"> 20</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Canada and Latin America</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 956</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 915</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;"> 15</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 7</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 13&nbsp;909</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 12&nbsp;823</div>
         </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;"> 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;"> 100</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 100</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">&nbsp;&nbsp;&nbsp;Of which in established markets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 10&nbsp;489</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 9&nbsp;512</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 10</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 8</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 75</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 74</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">&nbsp;&nbsp;&nbsp;Of which in emerging growth markets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3&nbsp;420</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 3&nbsp;311</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;"> 5</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;"> 26</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" 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 42.
            </div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-top:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>Nine months to September 30</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;"> 9M 2025<br> USD m
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> 9M 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;"> 9M 2025<br> % of total
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> 9M 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;"> 17&nbsp;997</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;"> 15&nbsp;144</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;"> 19</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;"> 19</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;"> 44</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;"> 41</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;"> 12&nbsp;326</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 11&nbsp;595</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;"> 4</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;"> 31</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;"> 8&nbsp;151</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 7&nbsp;708</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;"> 6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 20</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 21</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;"> 2&nbsp;722</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2&nbsp;717</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;"> 13</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#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;"> 41&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;"> 37&nbsp;164</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#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;"> 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;"> 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;"> 30&nbsp;695</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 27&nbsp;162</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 13</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 12</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 75</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 73</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;"> 10&nbsp;501</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 10&nbsp;002</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>
         <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;"> 27</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="14">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="14">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</sup> Net sales 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 42.
            </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: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>Third 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;"> Q3 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q3 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;"> 1&nbsp;877</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;865</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</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</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;"> 308</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 198</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:#000000;"> 54</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;185</div>
         </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;063</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 4</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;698</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;693</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="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;"> 473</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 372</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;"> 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; 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;"> 440</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 418</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;"> 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 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;611</div>
         </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;483</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 4</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;"> 1&nbsp;222</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 838</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 46</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 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;">Zolgensma</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 301</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 308</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -5</div>
         </td>
         <td align="right"></td>
      </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;"> 86</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>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 9</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2</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;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;"> 1&nbsp;225</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 31</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 29</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;"> 1&nbsp;329</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 787</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;"> 68</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;"> 550</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 534</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Jakavi</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 539</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 500</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;"> 4</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;"> 362</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 569</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;"> -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; 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;"> 564</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 386</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 46</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 45</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;"> 221</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 419</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -47</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -48</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;"> 358</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 182</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 97</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 95</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;"> 213</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 190</div>
         </td>
         <td align="right"></td>
         <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;"> 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;">Fabhalta<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;"> 149</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 44</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 239</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 236</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;"> 90</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 111</div>
         </td>
         <td align="right"></td>
         <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;"> -19</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="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;4</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&nbsp;375</div>
         </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;722</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 18</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 16</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="10px">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Established brands</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"><I>Sandostatin</I> Group</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 302</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 305</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>
      </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;"> 176</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 174</div>
         </td>
         <td align="right"></td>
         <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;"> 0</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Lucentis</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 148</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 245</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>
      </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;"> 143</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 150</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -5</div>
         </td>
         <td align="right"></td>
      </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;"> 126</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 159</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -21</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -20</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Kymriah<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;"> 97</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 102</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -7</div>
         </td>
         <td align="right"></td>
      </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;"> 396</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;"> 42</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>
      </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;4</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;741</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;916</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;"> -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;4</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;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:#666666;"> 3&nbsp;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:#000000;"> -6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -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; color:#000000;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="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;909</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 12&nbsp;823</div>
         </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;"> 7</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 42.
            </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> Net sales to third parties reflect <I>Fabhalta</I> sales for all indications.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="10">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;4&nbsp;</sup> Reclassified to conform with 2025 presentation of brands by therapeutic area and established
               brands.<b></b><b></b><b></b><b></b><b></b><b></b><b></b></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: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>Nine months to September 30</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;"> 9M 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> 9M 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;"> 6&nbsp;495</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;"> 5&nbsp;642</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;"> 15</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;"> 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; 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;"> 863</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 531</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 63</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 61</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;"> 7&nbsp;358</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 6&nbsp;173</div>
         </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;"> 19</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="10px">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">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;"> 4&nbsp;861</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 4&nbsp;545</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Ilaris</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;369</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;096</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 25</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 24</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Xolair<sup style="white-space: nowrap">&nbsp;2</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;339</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;244</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 2px;"></td>
      </tr>
      <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<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;"> 7&nbsp;569</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 6&nbsp;885</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 10</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 10</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="10px">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Neuroscience</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Kesimpta</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3&nbsp;198</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2&nbsp;274</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;"> 40</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;"> 925</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 952</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;"> -4</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;"> 245</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 232</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;"> 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;"> 4&nbsp;368</div>
         </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;458</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 26</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 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; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Oncology</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Kisqali</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3&nbsp;462</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 2&nbsp;131</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 62</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 63</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;"> 1&nbsp;675</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;531</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;"> 9</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Jakavi</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;555</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;449</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6</div>
         </td>
         <td align="right"></td>
      </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;"> 1&nbsp;410</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;633</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;"> -14</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Pluvicto</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;389</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;041</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 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; 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;"> 925</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;260</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;"> -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; 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;"> 894</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 482</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 85</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 84</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;"> 613</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 534</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;"> 14</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;"> 350</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>
         <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 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;"> 301</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 340</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -11</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -11</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <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;"> 12&nbsp;574</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 10&nbsp;473</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 20</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 20</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;"> 922</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 973</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -5</div>
         </td>
         <td align="right"></td>
      </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;"> 546</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 544</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Lucentis</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 510</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 834</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -39</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -39</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"><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;"> 447</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 450</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;"> 373</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 458</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;"> -16</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Kymriah<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;"> 296</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 335</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -12</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -12</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Contract manufacturing</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;015</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 829</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;"> 20</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;"> 5&nbsp;218</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 5&nbsp;752</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;"> -7</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total established brands<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;"> 9&nbsp;327</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 10&nbsp;175</div>
         </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;"> -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;"> 41&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;"> 37&nbsp;164</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#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;"> 11</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 42.
            </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.
            </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.
            </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;">36</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Net sales 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>Third 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;"> 798  </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;"> -13  </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;079  </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;"> 13  </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;"> 11  </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;877  </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  </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  </div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Cosentyx</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Immunology            </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Psoriasis (PsO),   ankylosing spondylitis  (AS), psoriatic arthritis   (PsA), non-radiographic   axial spondyloarthritis   (nr-axSPA), hidradenitis  suppurativa (HS)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;005            </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;"> 693            </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1            </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -3            </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;698            </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0            </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1            </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="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;"> 844    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 91    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 485    </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;"> 37    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;329    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;"> 68    </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;"> 828  </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;"> 394  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 48  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 43  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;222  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 46  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 44  </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;"> 232          </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;"> 318          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 4          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 550          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1          </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">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;"> 539    </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;"> 4    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 539    </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;"> 4    </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;"> 88    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -71    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 274    </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;"> 1    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 362    </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;"> -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; 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,   pre- and post-Taxane</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 460    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 53    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 104    </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;"> 18    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 564    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 46    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 45    </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;"> 269    </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;"> 204    </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;"> 18    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 473    </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;"> 26    </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;"> 440      </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;"> 3      </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 440      </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;"> 3      </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;"> 79  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -65  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 142  </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;"> -27  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 221  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -47  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -48  </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;"> 97  </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;"> 204  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -5  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 301  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -5  </div>
         </td>
         <td align="right"></td>
      </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;"> 176  </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;"> 126  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 302  </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>
      </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;"> 233          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 108          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 125          </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:#000000;"> 73          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 358          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 97          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 95          </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;"> 146    </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;"> 162    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 67    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 63    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 308    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 56    </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>
      </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;"> 152    </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;"> 61    </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;"> 213    </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;"> 11    </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;"> 1</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;"> 175</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;"> 176</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;"> 0</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;"> 148      </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;"> 148      </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>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"><I>Diovan</I> Group</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Established brands</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Hypertension</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 17</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 136</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;"> -6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 143</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -5</div>
         </td>
         <td align="right"></td>
      </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</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 126</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -21</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -20</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 126</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -21</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -20</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;415</div>
         </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;"> 5&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:#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;"> 6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 11&nbsp;350</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 10</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 9</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;"> 621</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;938</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;559</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>
      </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;"> 6&nbsp;036</div>
         </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;"> 7&nbsp;873</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 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;"> 13&nbsp;909</div>
         </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;"> 7</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 42.
            </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;">37</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Net sales 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>Nine months to September 30</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;"> 3&nbsp;190  </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;"> 14  </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="4%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3&nbsp;305  </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;"> 16  </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;"> 6&nbsp;495  </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;"> 15  </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;"> 15  </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;"> 2&nbsp;741            </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 9            </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;120            </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 5            </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 5            </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 4&nbsp;861            </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7            </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7            </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="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;"> 2&nbsp;180    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 93    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;282    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 28    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 29    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3&nbsp;462    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 62    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 63    </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Kesimpta</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Neuroscience  </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Relapsing forms of   multiple sclerosis (MS)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;128  </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;"> 1&nbsp;070  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 46  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 44  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3&nbsp;198  </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;"> 40  </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;"> 686          </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;"> 989          </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;"> 7          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;675          </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;"> 9          </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Jakavi</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Oncology    </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Myelofibrosis (MF), polycythemia  vera (PV), graft-versus-host   disease (GvHD)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">     </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">     </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;555    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;555    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6    </div>
         </td>
         <td align="right"></td>
      </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;"> 603    </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;"> 807    </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;"> 3    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;410    </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;"> -14    </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Pluvicto</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Oncology    </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> PSMA-positive mCRPC   patients post-ARPI,   pre- and post-Taxane</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;105    </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;"> 284    </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:#000000;"> 71    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;389    </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="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;"> 747    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 32    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 622    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 17    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 16    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;369    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 25    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 24    </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">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;"> 1&nbsp;339      </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 8      </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 8      </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;339      </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="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;"> 438  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -30  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 487  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -23  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -22  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 925  </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;"> -26  </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;"> 322  </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;"> 603  </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;"> -3  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 925  </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;"> -4  </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;"> 560  </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;"> 362  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 922  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -5  </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -5  </div>
         </td>
         <td align="right"></td>
      </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;"> 578          </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;"> 316          </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:#000000;"> 75          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 894          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 85          </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 84          </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;"> 411    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 53    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 452    </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:#000000;"> 70    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 863    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 63    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 61    </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;"> 441    </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;"> 172    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 8    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6    </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 613    </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;"> 14    </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;"> 4</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;"> 542</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 546</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="22" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="top" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">Lucentis</div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Established brands      </div>
         </td>
         <td align="right"></td>
         <td>
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> Age-related   macular degeneration (AMD),   diabetic macular edema (DME),  retinal vein occlusion (RVO)</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">       </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">       </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 510      </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -39      </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -39      </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 510      </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -39      </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -39      </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;"> 27</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 29</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 420</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 447</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;"> 0</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</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 373</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;"> -16</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 373</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;"> -16</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;"> 16&nbsp;161</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 20</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 17&nbsp;610</div>
         </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;"> 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;"> 33&nbsp;771</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 14</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 14</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;"> 1&nbsp;836</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;"> 5&nbsp;589</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;"> -3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7&nbsp;425</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0</div>
         </td>
         <td align="right"></td>
      </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;"> 17&nbsp;997</div>
         </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;"> 23&nbsp;199</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 41&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:#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;"> 11</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 42.
            </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;">38</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name=""></a><div style=" padding-bottom: 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;"> Q3 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q3 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> 9M 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> 9M 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;">Profit sharing income</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 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:#666666;"> 276</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;"> 968</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;"> 758</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Royalty income<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;"> 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:#000000;"> 352</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 30</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Milestone income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 7</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;"> 96</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 26</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other<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;"> 61</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 61</div>
         </td>
         <td align="right"></td>
         <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:#666666;"> 186</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total other revenues</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 449</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 349</div>
         </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;618</div>
         </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;000</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="10">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"><b></b></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="10">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</sup> In the first nine months of 2025, royalty income includes a royalty settlement of
               USD  0.3  billion.
            </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> 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="anchorId00236240"></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="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;"> Q3 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q3 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> 9M 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> 9M 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;">Property, plant and equipment impairment charges</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -9</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;"> -2</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;"> -15</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;"> -12</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Property, plant and equipment depreciation charge</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;"> -220</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -693</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -657</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Right-of-use assets impairment reversal</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 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;"> 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;">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;"> -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>
         <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:#666666;"> -191</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Intangible assets impairment charges<sup style="white-space: nowrap">&nbsp;1</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -96</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -811</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -190</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1&nbsp;005</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Intangible assets impairment reversal</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 9</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 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; 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;"> -953</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -874</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2&nbsp;674</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -2&nbsp;585</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px" colspan="10">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="10">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</sup> Q3 2024 and 9M 2024 include an impairment of goodwill related to the MorphoSys business
               acquisition (USD 0.8 billion). See Note 3 for additional information.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="10">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;">&nbsp;&nbsp;&nbsp;<sup>&nbsp;</sup></div>
         </td>
      </tr>
   </table>
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">In the first nine months of 2025 and 2024, there were no impairment charges on right-of-use assets and no reversals of impairment charges on property, plant and equipment.</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 impacts of business
   combinations and acquisitions applying the optional concentration test, 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;"> Q3 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q3 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> 9M 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> 9M 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;">Additions to property, plant and equipment</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 372</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;"> 379</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;"> 931</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;"> 885</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Additions to right-of-use assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 168</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 115</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 305</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 212</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Additions to intangible assets other than goodwill</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 481</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 337</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;858</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;512</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
   </table>
</div><a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">Financial debt</font></div>
<div style="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>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">In May 2025, Novartis repaid a 10-year Swiss franc denominated bond of CHF  500 million with a coupon of 0.25% 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="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
</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>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">deferred tax assets and liabilities revaluation recognized in the first quarter of
   2025 was not material.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">On July 4, 2025, the United States enacted Public Law No. 119&ndash;21 (commonly referred to as the &#x201c;One Big Beautiful Bill Act&#x201d; (&#x201c;OBBBA&#x201d;) that contains
   tax reform provisions. The OBBBA leaves the U.S. corporate tax rate unchanged at 21% and, in addition, among other changes, extends or revises key provisions of the Tax
   Cuts and Jobs Act (&#x201c;TCJA&#x201d;) enacted in 2017, which were set to expire or change at
   the end of 2025.
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">For the reporting period ending September 30, 2025, the Company has assessed and recognized
   the OBBBA impacts. Certain provisions of the OBBBA required a revaluation of a deferred
   tax asset, that was recognized in the third quarter of 2025 and was not material to
   the consolidated financial statements. However, given the complexity of tax laws,
   related regulations, and evolving interpretations, our estimates may require revision
   as additional information becomes available regarding the application of the OBBBA
   provisions.
</div><a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">Commitments </font></div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Research and development and acquisition agreement commitments</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The Company has entered into long-term research and development agreements with various
   institutions and acquisition agreements with third parties accounted for as assets
   separately acquired (by electing to apply the optional concentration test) related
   to intangible assets. These agreements may provide for potential milestone payments
   by Novartis, which are dependent on successful clinical development, or meeting specified
   sales targets, or other conditions that are specified in the agreements.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">As of September 30, 2025, the amount and estimated timing of the Company&#x2019;s commitments
   to make payments under those agreements, which are shown without risk adjustment and
   on an undiscounted basis, were as follows:
</div>
<div style="padding-top:10px; padding-bottom:30px;">
   <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse" width="100%">
      <tr valign="bottom">
         <td height="12">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;"><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;"> Sep 30, <br> 2025
            </div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">2025</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="20%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 47</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">2026</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 463</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">2027</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;253</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">2028</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;219</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">2029</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 700</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;">2030</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;030</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Thereafter</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 11&nbsp;691</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 16&nbsp;403</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="4" style="border-bottom: solid #000000 3px;"></td>
      </tr>
   </table>
</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Other commitments</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">On July 7, 2025, the Company entered into a lease agreement that has not yet commenced
   with an undiscounted commitment amount of USD 0.8 billion. The estimated timing of the commitment is as follows: nil in 2025, 2026 and 2027, USD 16 million in 2028, USD 40 million in 2029, USD 41 million in 2030, and USD 0.7 billion thereafter.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">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.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">On September 9, 2025, Novartis entered into an agreement and plan of merger to acquire
   Tourmaline Bio, Inc. (&#x201c;Tourmaline&#x201d;), a US-based, publicly traded clinical-stage biopharmaceutical
   company focused on developing a treatment option for atherosclerotic cardiovascular
   disease.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">Pursuant to the Merger Agreement, on September 29, 2025, Novartis, through an indirect,
   wholly owned subsidiary, commenced a tender offer (the &#x201c;Offer&#x201d;) to acquire all of
   the outstanding shares of common stock of Tourmaline in exchange for USD 48.00 in
   cash per share. The tender offer will expire at one minute past 11:59 p.m., New York
   City time on October 27, 2025 with a payment due on October 28, 2025 in the amount
   of approximately USD 1.4 billion for the tendered outstanding shares to the Tourmaline
   shareholders. On October 28, 2025, the acquiring subsidiary is expected to merge with
   and into Tourmaline, resulting in Tourmaline becoming an indirect wholly owned subsidiary
   of Novartis, and Tourmaline shares admitted to trading on NASDAQ are expected to be
   voluntary delisted. As the transaction is expected to close on October 28, 2025 the
   purchase price allocation is incomplete.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">The Company has a commitment related to a long-term research and development agreement
   that was entered into in the third quarter 2025 that closed on October 17, 2025 totaling
   USD 1.0 billion, of which USD 0.2 billion was paid on October 23, 2025.
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">The Company has a commitment related to a purchase agreement entered into on October
   25, 2025 to acquire Avidity Biosciences, Inc. totaling USD 12 billion in cash, which
   is expected to close in first half of 2026. The completion of the transaction is subject
   to the satisfaction of conditions precedent in the agreement.
</div>
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</div><a name="anchorId00236736"></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 September 30, 2025, consolidated balance sheet date</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">In the third quarter, the Company entered into a long-term research and development
   agreement which closed on October 17, 2025. In addition, on October 25, 2025 the Company
   entered into a commitment related to a purchase agreement to acquire a business. See
   Note 10 for further information.
</div>
<div style="padding-bottom:10px;"></div>
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</div><a name="anchorId00236742"></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="padding-bottom:15px;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>
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   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">42</font><div style="padding-bottom:10px;"></div>
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</div>
<div style="padding-bottom:15px;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
   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,
   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 49 for additional disclosures related to net debt.</div>
<div style="padding-bottom:10px;"></div>
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</div><a name=""></a><div style=" padding-bottom: 10px;"><font style="font-family:arial,helvetica,sans-serif; font-size:14pt; color:#000000; font-weight:bold;">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;"> Q3 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q3 2024</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; font-weight:bold; color:#000000;"> 9M 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> 9M 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; font-weight:bold; color:#000000;">IFRS Accounting Standards operating income</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 4&nbsp;501</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 3&nbsp;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; font-weight:bold; color:#000000;"> 14&nbsp;028</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;014</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 3px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Amortization of intangible assets</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 875</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;"> 799</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;"> 2&nbsp;434</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 2&nbsp;374</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Impairments</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="9%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Intangible assets</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 94</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 802</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 187</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 996</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Property, plant and equipment related to the company-wide   rationalization of manufacturing sites</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">   </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Other property, plant and equipment</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 7</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total 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;"> 94</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 803</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 188</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 1&nbsp;003</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Acquisition or divestment of businesses and related items</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;- Income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -90</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -100</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -307</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -315</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;- Expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 82</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 125</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 328</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 355</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total acquisition or divestment of businesses and related items, net</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -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;"> 25</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 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:#666666;"> 40</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other items</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Divestment gains</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -27</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -50</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -46</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Financial assets - fair value adjustments</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -71</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;"> -33</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 13</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Restructuring and related items</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;- Income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -4</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -25</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -64</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="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;- Expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 71</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 77</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 363</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 335</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Legal-related items</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;- Income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -280</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;- Expense</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;"> 39</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 442</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 89</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Additional income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -30</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>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -200</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -105</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="margin-left: 10px;font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">&nbsp;&nbsp;&nbsp;Additional expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 33</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -90</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;"> 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="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;"> -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;"> -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;"> 289</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 204</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Total adjustments</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 959</div>
         </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;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:#000000;"> 2&nbsp;932</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 3&nbsp;621</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Core operating income</div>
         </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;460</div>
         </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;145</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 16&nbsp;960</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 14&nbsp;635</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;">as % of net sales</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> 39.3%</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;"> 40.1%</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-style:italic; color:#000000;"> 41.2%</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;"> 39.4%</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Loss from associated companies</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -4</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -4</div>
         </td>
         <td align="right"></td>
         <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;"> -35</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Core adjustments to loss from associated companies, net of tax</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 26</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Interest expense</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;"> -264</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -840</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -731</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;"> -20</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:#000000;"> -44</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 107</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Core adjustments to other financial income and expense</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 13</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 30</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 70</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 105</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="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;"> -838</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -800</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2&nbsp;614</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -2&nbsp;285</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Core net income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 4&nbsp;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;"> 4&nbsp;133</div>
         </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;522</div>
         </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;822</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Core net income attributable to shareholders of Novartis AG</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 4&nbsp;329</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 4&nbsp;136</div>
         </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;517</div>
         </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;825</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;">Core net income attributable to non-controlling interests<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;"> 1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 5</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="10" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Core basic EPS (USD)<sup style="white-space: nowrap">&nbsp;2</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 2.25</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 2.06</div>
         </td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 6.94</div>
         </td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> </div>
         </td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 5.83</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> Core net income attributable to non-controlling interests includes impairment charges
               related to an intangible asset.
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="10">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;2&nbsp;</sup> Core earnings per share (EPS) is calculated by dividing core net income attributable
               to shareholders of Novartis AG by the weighted average number of shares outstanding
               used in the basic EPS calculation in the 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;">44</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">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>Third 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;"> Q3 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> Q3 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> Q3 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;819</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;"> 688</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;"> 4</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;511</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;"> 10&nbsp;669</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;501</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 875</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 94</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -8</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -2</div>
         </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;460</div>
         </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;145</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;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:#000000;"> 875</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 94</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -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;"> 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;"> 5&nbsp;168</div>
         </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;933</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;"> -266</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -169</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;"> 5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -390</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -838</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -800</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;930</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-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;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;"> 4&nbsp;133</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 attributable to shareholders  of Novartis AG</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   3&nbsp;928</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-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;329</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;">   4&nbsp;136</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Basic EPS (USD)<sup style="white-space: nowrap">&nbsp;6</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 2.04</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-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;"> 2.25</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 2.06</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;">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;539</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 688</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </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;847</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -2&nbsp;503</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;308</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </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;"> -3&nbsp;304</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -3&nbsp;133</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;944</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 187</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 94</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;"> -16</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2&nbsp;677</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -2&nbsp;321</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;"> 269</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </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;"> -83</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 96</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 91</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;"> -335</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 80</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 89</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -166</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -161</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;"> -20</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 13</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -7</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 56</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:
               research and development and other expense include integration cost charges; other
               income and other expense include transitional service-fee income and expenses related
               to the Sandoz distribution and adjustments to provisions
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;4&nbsp;</sup> Other items: cost of goods sold, selling, general and administration, 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; other
               income also includes fair value adjustments on contingent consideration receivable
               and adjustments to provisions and other items; other expense also includes write-down
               of assets within other non-current assets; 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. Due to
               these factors and the differing effective tax rates in the various jurisdictions,
               the tax on the total adjustments of USD 972 million to arrive at the core results
               before tax amounts to USD 572 million and the average tax rate on the total adjustments
               was 58.8%.
            </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 outstanding
               used in the basic EPS calculation in the 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;">45</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>Nine months to September 30</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;"> 9M 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> 9M 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> 9M 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;"> 32&nbsp;726</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="6%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 2&nbsp;116</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;"> -334</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;"> 34&nbsp;508</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;"> 30&nbsp;898</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;"> 14&nbsp;028</div>
         </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;434</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 188</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 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;"> 289</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 16&nbsp;960</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 14&nbsp;635</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;"> 13&nbsp;134</div>
         </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;434</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 188</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 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;"> 359</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 16&nbsp;136</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 14&nbsp;107</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Income taxes<sup style="white-space: nowrap">&nbsp;5</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1&nbsp;571</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -483</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -33</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;"> -522</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2&nbsp;614</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -2&nbsp;285</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 11&nbsp;563</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 13&nbsp;522</div>
         </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;822</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Net income 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;">   11&nbsp;575</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">   </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">   13&nbsp;517</div>
         </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;825</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;">Basic EPS (USD)<sup style="white-space: nowrap">&nbsp;6</sup></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> 5.94</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-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;"> 6.94</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 5.83</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; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size: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 revenues</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;618</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </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;"> 1&nbsp;274</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;000</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;"> -10&nbsp;088</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;116</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 10</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -7&nbsp;962</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -7&nbsp;266</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;"> -9&nbsp;808</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;"> -9&nbsp;802</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -9&nbsp;063</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;"> -8&nbsp;037</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 318</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 187</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -3</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -7&nbsp;532</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -6&nbsp;800</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Other income</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;043</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -307</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -367</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 369</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 247</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;"> -1&nbsp;896</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; 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;"> 325</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 987</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -583</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -647</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;"> -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;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </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;"> 26</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 212</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="16" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom">
         <td height="10px">
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
         <td>
            <div style="font-family: arial, helvetica,sans-serif; font-size:10pt;color:#00ff00;"></div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;1&nbsp;</sup> Amortization of intangible assets: cost of goods sold includes the amortization of
               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; other expense includes net impairment charges related to property, plant and
               equipment
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;3&nbsp;</sup> Acquisition or divestment of businesses and related items, including integration charges:
               research and development and other expense include integration cost charges; other
               income and other expense include transitional service-fee income and expenses related
               to the Sandoz distribution and adjustments to provisions
            </div>
         </td>
      </tr>
      <tr valign="bottom">
         <td colspan="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;"><sup>&nbsp;4&nbsp;</sup> Other items: other revenues includes milestones income from an outlicensing agreement
               and a royalty settlement income; 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; other income also includes divestment gains, fair value adjustments on contingent
               consideration receivable and adjustments to provisions and other items; other expense
               includes legal related items, loss due to legal entities reorganization, write-down
               of assets within other non-current 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. Due to
               these factors and the differing effective tax rates in the various jurisdictions,
               the tax on the total adjustments of USD 3.0 billion to arrive at the core results
               before tax amounts to USD 1.0 billion. The average tax rate on the total adjustments
               was 34.7% 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 outstanding
               used in the basic EPS calculation in the 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;">46</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 tables provide 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>Third 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;"> Q3 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;"> Q3 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;"> 6&nbsp;571</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;"> 6&nbsp;571</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;"> 6&nbsp;286</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> </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;"> 6&nbsp;286</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 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;"> -860</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 506</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -354</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -374</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>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -321</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;"> -2&nbsp;789</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 2&nbsp;789</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;"> -382</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 382</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;"> 6&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:#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;"> 5&nbsp;965</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
               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-top:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>Nine months to September 30</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;"> 9M 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;"> 9M 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;"> 16&nbsp;880</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;"> 16&nbsp;880</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;"> 13&nbsp;426</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;"> 13&nbsp;426</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 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;"> -2&nbsp;773</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1&nbsp;834</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -939</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -4&nbsp;480</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 3&nbsp;672</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -808</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;"> -16&nbsp;550</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 16&nbsp;550</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;"> -8&nbsp;746</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 8&nbsp;746</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;"> 15&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;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-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;"> 12&nbsp;618</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
               used 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 colspan="14">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;">&nbsp;&nbsp;&nbsp;<sup>&nbsp;</sup></div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The following tables summarize 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>Third 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;"> Q3 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q3 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;501</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;627</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;292</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;972</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;"> 43</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="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;"> 355</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 48</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;191</div>
         </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;811</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Interest received and change in other financial receipts</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -21</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="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Interest paid and change in other financial payments</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -297</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;"> -366</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -285</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;"> -272</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -216</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;"> -8</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 309</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">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;"> 1&nbsp;344</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 731</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;"> 6&nbsp;571</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 6&nbsp;286</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;"> -354</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -321</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;"> 6&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:#666666;"> 5&nbsp;965</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;">47</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:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>Nine months to September 30</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;"> 9M 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> 9M 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;"> 14&nbsp;028</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;"> 11&nbsp;014</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;"> 3&nbsp;739</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 4&nbsp;454</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;"> 890</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 531</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;"> 833</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 643</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;"> 19&nbsp;490</div>
         </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;642</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Dividends received from associated companies and others</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Interest received and other financial receipts</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 538</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 347</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;"> -790</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>
      </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;"> -1&nbsp;581</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1&nbsp;334</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;"> -788</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -847</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;522</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -1&nbsp;809</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;"> 1&nbsp;532</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;098</div>
         </td>
         <td align="right"></td>
      </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;"> 16&nbsp;880</div>
         </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;426</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;"> -939</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -808</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;"> 15&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;"> 12&nbsp;618</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;">&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;">48</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>Third 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;"> Q3 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Q3 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;"> 2&nbsp;900</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> 5&nbsp;706</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, 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;">     519</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">     -3&nbsp;242</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;"> 3&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;"> 2&nbsp;464</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 July 1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -23&nbsp;784</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> -18&nbsp;760</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 September 30</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -20&nbsp;365</div>
         </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;296</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>Nine months to September 30</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;"> 9M 2025</div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> 9M 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;"> -1&nbsp;903</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;"> 216</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, time  deposits, financial debts and derivatives financial instruments</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">     -2&nbsp;321</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;">     -6&nbsp;329</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;"> -4&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:#666666;"> -6&nbsp;113</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 September 30</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#000000;"> -20&nbsp;365</div>
         </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;296</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;"> Sep 30, <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;"> Sep 30, <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;"> -22&nbsp;598</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;"> -23&nbsp;750</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;520</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;"> -6&nbsp;566</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;"> -30&nbsp;118</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; font-weight:bold; color:#666666;"> -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;"> -30&nbsp;316</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;"> 9&nbsp;556</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;"> 13&nbsp;609</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, 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;"> 197</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;"> 411</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;"> 9&nbsp;753</div>
         </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;"> 14&nbsp;020</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;"> -20&nbsp;365</div>
         </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;"> -16&nbsp;296</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>
   </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;"> Sep 30, <br> 2025
            </div>
         </td>
         <td></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#666666;"> Sep 30, <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;918&nbsp;792&nbsp;119</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="14%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1&nbsp;999&nbsp;270&nbsp;033</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;"> 100.12</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 97.15</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">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;"> 128.24</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 115.02</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;"> 241.1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 230.7</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;"> 192.1</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 194.2</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="6" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom">
         <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;">49</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name=""></a><div style=" padding-bottom: 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="anchorId00241024"></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> Q3 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> Q3 2024
            </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> 9M 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> 9M 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> Sep 30, <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> Sep 30, <br> 2024
            </div>
         </td>
         <td></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">1 CHF</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1.249</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1.155</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1.190</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1.135</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1.255</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="7%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1.188</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">1 CNY</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0.140</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 0.140</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;"> 0.139</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0.140</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 0.143</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">1 EUR</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1.168</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1.099</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1.118</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1.087</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1.174</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1.117</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">1 GBP</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1.348</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1.300</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1.314</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1.277</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1.344</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1.339</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">100 JPY</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0.678</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 0.672</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0.675</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 0.662</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0.675</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 0.704</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">100 RUB</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1.240</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1.119</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1.183</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1.107</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1.209</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#666666;"> 1.072</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="14" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
   </table>
</div><a name=""></a><div style="padding-bottom:0px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Currency impact on key figures</font></div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">The following table provides a summary of the currency impact on key Company figures
   due to their conversion into US dollars, the Company&#x2019;s reporting currency, of the
   financial data from entities reporting in non-US dollars. Constant currency (cc) calculations
   apply the exchange rates of the prior year period to the current period financial
   data for entities reporting in non-US dollars.
</div>
<div style="padding-top:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>Third 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> Q3 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> Q3 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> Q3 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;"> 8</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;"> 7</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="11%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 1</div>
         </td>
         <td align="right" width="1%"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Operating income</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;"> 27</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;">Net 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;"> 25</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;">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;"> 29</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;"> -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;"> 6</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="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;"> 5</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 6</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -1</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">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;"> 9</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;"> -1</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 2px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"></div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> </div>
         </td>
         <td align="right"></td>
      </tr>
      <tr valign="bottom">
         <td colspan="8">
            <div style="font-family:arial,helvetica,sans-serif;font-size:8pt; color:#000000;margin-left:10pt; text-indent:-10pt;">&nbsp;&nbsp;&nbsp;<sup>&nbsp;</sup></div>
         </td>
      </tr>
   </table>
</div>
<div style="padding-top:0px;font-family:arial,helvetica,sans-serif; font-size:8pt; color:#000000; "><b>Nine months to September 30</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> 9M 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> 9M 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> 9M 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;"> 11</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="11%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 11</div>
         </td>
         <td align="right" width="1%"></td>
         <td align="right" width="11%">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 0</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;"> 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 1px;height: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;"> 27</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> 29</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">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;"> 32</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;"> -3</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Core operating 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:#000000;"> 18</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -2</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Core net income</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;"> 17</div>
         </td>
         <td align="right"></td>
         <td align="right">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;"> -3</div>
         </td>
         <td align="right"></td>
      </tr>
      <tr>
         <td colspan="8" style="border-bottom: solid #000000 1px;height:1px;"></td>
      </tr>
      <tr valign="bottom" bgcolor="#ffffff">
         <td height="16">
            <div style="font-family:arial,helvetica,sans-serif;font-size:10pt; color:#000000;">Core basic earnings per share (USD)</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;"> 21</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 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;">50</font><div style="padding-bottom:10px;"></div>
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   </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;guidance,&#x201d; &#x201c;outlook,&#x201d; &#x201c;priority,&#x201d; &#x201c;potential,&#x201d;
   &#x201c;momentum,&#x201d; &#x201c;commitment,&#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="padding-bottom:15px;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><a name=""></a><div><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Additional information and Where to Find It</font></div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">In connection with the spin-off or sale of SpinCo and the merger (the &#x201c;Transactions&#x201d;),
   Novartis, Avidity and SpinCo intend to file relevant documents with the Securities
   and Exchange Commission (the &#x201c;SEC&#x201d;), including a preliminary and definitive proxy
   statement to be filed by Avidity. The definitive proxy statement and proxy card will
   be delivered to the stockholders of Avidity in advance of the special meeting relating
   to the Transactions. This document is not a substitute for the proxy statement or
   any other document that may be filed by Avidity with the SEC. AVIDITY&#x2019;S STOCKHOLDERS
   ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT IN ITS ENTIRETY WHEN IT BECOMES AVAILABLE
   AND ANY OTHER DOCUMENTS FILED BY EACH OF NOVARTIS AND AVIDITY WITH THE SEC IN CONNECTION
   WITH THE TRANSACTIONS OR INCORPORATED BY REFERENCE THEREIN BECAUSE THEY WILL CONTAIN
   IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTIONS AND THE PARTIES TO THE TRANSACTIONS.
   Investors and security holders will be able to obtain a free copy of the proxy statement
   and such other documents containing important information about Novartis and Avidity,
   once such documents are filed with the SEC, through the website maintained by the
   SEC at <font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#0070f7; text-decoration:underline;">www.sec.gov</font>. Novartis and Avidity make available free of charge at the Novartis website at <font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#0070f7; text-decoration:underline;">www.novartis.com/investors/financial-data/sec-filings</font> and Avidity&#x2019;s website at <font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#0070f7; text-decoration:underline;">investors.aviditybiosciences.com/sec-filings</font>, respectively, copies of documents they file with, or furnish to, the SEC.
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">51</font><div style="padding-bottom:10px;"></div>
      <hr style="HEIGHT: 2px; WIDTH: 100%; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px" noshade size="3">
   </div>
   <div style="padding-bottom:30px;"></div>
</div><a name=""></a><div><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">Participants in the Solicitation</font></div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">This press release does not constitute a solicitation of a proxy. Novartis, Avidity
   and their respective directors, executive officers and certain employees may be deemed
   to be participants in the solicitation of proxies from the stockholders of Avidity
   in connection with the Transactions. Information regarding the special interests of
   these directors and executive officers in the Transactions will be included in the
   definitive proxy statement referred to above. Security holders may also obtain information
   regarding the names, affiliations and interests of the Novartis directors and executive
   officers in the Novartis Annual Report on Form 20-F for the fiscal year ended December
   31, 2024, which was filed with the SEC on January 31, 2025. Security holders may obtain
   information regarding the names, affiliations and interests of Avidity&#x2019;s directors
   and executive officers in Avidity&#x2019;s definitive proxy statement on Schedule 14A, which
   was filed with the SEC on April 29, 2025. To the extent the holdings of Avidity&#x2019;s
   securities by Avidity&#x2019;s directors and executive officers have changed since the amounts
   set forth in Avidity&#x2019;s definitive proxy statement for its 2025 annual meeting of stockholders,
   such changes have been or will be reflected on Initial Statements of Beneficial Ownership
   on Form 3 or Statements of Change in Ownership on Form 4 filed with the SEC. These
   documents (when available) may be obtained free of charge from the SEC&#x2019;s website at
   <font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#0070f7; text-decoration:underline;">www.sec.gov</font>, the Novartis website at <font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#0070f7; text-decoration:underline;">https://www.novartis.com</font> and Avidity&#x2019;s website at   investors.<font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#0070f7; text-decoration:underline;">aviditybiosciences.com/sec-filings</font>. The contents of the websites referenced above are not deemed to be incorporated
   by reference into the proxy statement.
</div><a name=""></a><div><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; font-weight:bold;">No Offer or Solicitation</font></div>
<div style="padding-bottom:15px;font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;margin-top:15px;">This press release is for informational purposes only and is not intended to and does
   not constitute, or form part of, an offer, invitation or the solicitation of an offer
   or invitation to purchase, otherwise acquire, subscribe for, sell or otherwise dispose
   of any securities, or the solicitation of any vote or approval in any jurisdiction,
   pursuant to the proposed transaction or otherwise, nor shall there be any sale, issuance
   or transfer of securities in any jurisdiction in contravention of applicable law.
</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="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#0070f7; 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="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#0070f7; 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;">October 30, 2025</div>
   <div style="">Immunology pipeline event at ACR (virtual)</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="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">
   <div style="float:left; width: 150px;">December 1, 2025</div>
   <div style="">Social Impact &amp; Sustainability annual investor event (virtual)</div>
</div>
<div style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000;">
   <div style="float:left; width: 150px;">February 4, 2026</div>
   <div style="">Fourth quarter &amp; full year 2025 results</div>
</div>
<div style="padding-bottom:10px;"></div>
<div style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
   <div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="font-family:arial,helvetica,sans-serif; font-size:10pt; color:#000000; text-indent:20.0pt;">52</font><div style="padding-bottom:10px;"></div>
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,             __9

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