Ad hoc announcement pursuant to Art. 53 LR

Q1 net sales grew +11% (cc1, +10% USD) with core operating income up +22% (cc, +16% USD)
Key growth drivers continued strong sales momentum including Entresto (+36% cc), Cosentyx (+25% cc), Kesimpta (+66% cc), Kisqali (+54% cc), Pluvicto (+47% cc) and Leqvio (+139% cc)
Core operating income margin 38.4%, +340 basis points (cc), mainly driven by higher net sales
Operating income grew +39% (cc, +29% USD) and net income grew +37% (cc, +25% USD), mainly driven by higher net sales
Core EPS grew +23% (cc, +17% USD) to USD 1.80
Free cash flow1 USD 2.0 billion (-24% USD) declined due to a prior-year one-timer and timing of payments
Q1 selected innovation milestones:
Fabhalta (iptacopan) FDA filing accepted for IgAN and positive CHMP opinion for PNH
Scemblix Phase III ASC4FIRST study met both primary endpoints in 1L Ph+ CML-CP patients
Pluvicto Phase III PSMAfore updated OS results demonstrated HR<1.0 in pre-taxane mCRPC
Remibrutinib Phase III 52-week data showed sustained efficacy in CSU
Full-year 2024 guidance raised2 – net sales expected to grow high-single to low double-digit; core operating income expected to grow low double-digit to mid-teens
Novartis proposes Dr. Giovanni Caforio as Chair of the Board of Directors at AGM 2025

Basel, April 23, 2024 – commenting on Q1 2024 results, Vas Narasimhan, CEO of Novartis, said:
“Novartis continued our strong momentum with both sales growth and core margin expansion in Q1. Our performance was broad-based, across all key growth brands and geographies, allowing us to raise guidance for the full year 2024. We continued to advance our pipeline in Q1, with submission-enabling data for Scemblix first-line, Pluvicto pre-taxane and remibrutinib in CSU. The momentum in our business and pipeline gives us continued confidence in our mid- and long-term growth outlook.”

Key figures
see & read more on https://www.novartis.com/news/media-releases/novartis-delivers-double-digit-sales-growth-and-core-margin-expansion-q1-fy-2024-guidance-raised