• Q1 sales grew +8% (cc1, +3% USD) and core operating income grew +15% (cc, +8% USD) o Innovative Medicines (IM) sales grew +7% (cc, +3% USD) and core operating income +18% (cc, +11% USD) o IM core margin 38.7%, +360 bps cc, driven by higher sales and productivity programs o Growth driven by strong performance of Entresto, Pluvicto, Kesimpta, Kisqali and Scemblix o Sandoz sales grew +8% (cc, +4% USD) and core operating income +3% (cc, -2% USD) • Operating income grew +9% (cc, 0% USD) mainly driven by higher sales • Net income grew +14% (cc, +3% USD) mainly due to higher operating income and higher interest income • Core EPS grew +25% (cc, +17% USD) to USD 1.71, mainly due to higher operating income and lower shares outstanding • Free cash flow2 was USD 2.7 billion (+95% USD) mainly due to higher operating income adjusted for non-cash items and favorable working capital • Q1 key innovation milestones: o Kisqali – Ph3 NATALEE trial met primary endpoint (iDFS) at interim analysis in adjuvant breast cancer o Cosentyx – 52 weeks positive readout from the pivotal trials in moderate-to-severe HS o Entresto – positive CHMP opinion for pediatric heart failure; if approved, RDP extends to November 2026 o Pluvicto – In April FDA approved Millburn facility for commercial production of Pluvicto