Basel - Novartis shareholders today accepted the recommendations of the Board of Directors for all resolutions proposed at the company's Annual General Meeting (AGM).

A total of 1,693 shareholders were present at the meeting held in Basel, representing approximately 53.65% of the issued Novartis shares.

Shareholders approved the 27th consecutive dividend increase since Novartis was founded in 1996, with an increase of 3.1% to CHF 3.30 per share. Payment of the 2023 dividend will be made from March 11, 2024. The dividend for 2023 represents a free cash flow distribution of approximately 58% and a yield of 3.7% 1.

Annual re-election of members of the Board of Directors

The shareholders re-elected Joerg Reinhardt as Chairman of the Board of Directors, and all current members of the Board, for one year.

The shareholders also re-elected, for one year, all the current members of the Remuneration Committee. The Board of Directors intends to reappoint Simon Moroney as Chairman of the Remuneration Committee.

Reduction of share capital

The shareholders also approved the proposal of the Board of Directors of Novartis to cancel 87,547,255 shares (repurchased pursuant to the authorization of March 4, 2022) and to reduce the share capital accordingly, by CHF 42.9 million, from CHF 1,115,964,098.48 to CHF 1,073,065,943.53.

Vote on the report on non-financial matters

With the introduction of new transparency provisions on non-financial matters in the Swiss Code of Obligations, Novartis was, for the first time for the 2023 financial year, required to prepare a report on non-financial matters and submit it to shareholders. Shareholders approved the report on non-financial matters for fiscal year 2023 in an advisory vote.

Votes on the remuneration of members of the Board of Directors and the Executive Committee

In two separate binding votes, shareholders approved the maximum cumulative total amount of remuneration for the Board of Directors, covering the period from the AGM 2024 to the AGM 2025, and the maximum cumulative total amount of remuneration for the Management Committee for the financial year 2025. The shareholders also approved the Remuneration Report 2023 by an advisory vote.

Election of KPMG AG as auditor

In accordance with the proposal of the Board of Directors, the shareholders elected KPMG AG as auditor for the financial year beginning January 1, 2024.

Disclaimer

This document represents forecasts that involve known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results, performance or achievements stated or implied by such statements. Certain risks associated with these statements are summarized in the English version of this press release, as well as in the latest Form 20-F filed by Novartis AG with the Securities and Exchange Commission (SEC). . The reader is invited to read these summaries carefully.

About Novartis

Novartis is a company specializing in innovative medicines. Every day, we strive to reinvent medicine to improve and extend lives for all, so that patients, healthcare professionals and society can cope with serious illnesses. Our medicines affect more than 250 million people worldwide.

Contact:

Tel: +41 61 324 7944

Email: investor.relations@novartis.com

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