Slides
Page 1
Investor presentation October 23, 2026 Establishing remibrutinib in MS
Page 2
Disclaimer This presentation 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 “potential,” “expected,” “will,” “plan,” “pipeline,” “outlook,” “confident,” or similar expressions, or by express or implied discussions regarding: potential new products, including remibrutinib, potential new indications for existing products, potential product launches or potential future revenues from any such products; or results of ongoing clinical trials; potential future sales or earnings; strategy, plans, expectations or intentions, including discussions regarding our continued investment into new R&D capabilities and manufacturing. You should not place undue reliance on these statements. 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. There can be no guarantee that the investigational or approved products, including remibrutinib, described in this presentation 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. 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; the success of key products, commercial priorities and strategy; 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; our ability to realize the strategic benefits, operational efficiencies or opportunities expected from our external business opportunities; the development or adoption of new technologies, including artificial intelligence, and new business models; the implementation of our new IT projects and systems; potential significant breaches of information security or disruptions of our information technology systems; actual or potential legal proceedings, including regulatory actions or delays or government regulation related to the products and pipeline products described in this presentation; 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; future global exchange rates; future demand for our products; and other risks and factors referred to in Novartis AG’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 presentation 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. All trademarks in this presentation are the property of their respective owners. Novartis IR event on REMODEL data | Oct 23, 2026 2
Page 3
Disclosures Heinz Wiendl has received honoraria for acting as a member of scientific advisory boards from Alexion, argenx, BioCryst, Bristol Myers Squibb, Cellerys, Galapagos, Janssen, Merck, Novartis, Sandoz Hexal, and uniQure; received speaker honoraria and travel support from Alexion, ACON, AstraZeneca, Biogen, BGP Products Operations GmbH, Bristol Myers Squibb, Cemcat, EPG Health Medthority, Genzyme, Kohlhammer, Merck, MS at the Limits, Neurodiem, NMSS, Novartis, Ology, Roche, Sanofi, Springer, STREAMED UP, TEVA, Uvet, and WebMD Global; is a paid consultant for Alexion, argenx, Argobio, Bristol Myers Squibb, Dianthus, EMD Serono, Fondazione Cariplo, Idorsia, Immunic, Immunovant, INmune Bio partnering with Syneos Health, Janssen, LTS, Lundbeck, Merck, Muna Therapeutics, Myrobalan Therapeutics, Novartis, PSL Group, Red Nucleus, Roche, Samsung, Sangamo, Sanofi, Swiss Multiple Sclerosis Society, Teladoc Health, Toleranzia, UCB, and Viatris; and received research funding from Deutsche Forschungsgemeinschaft, Deutsche Myasthenie Gesellschaft, the EU, Alexion, Amicus Therapeutics, argenx, Biogen, CSL Behring, Hoffmann-La Roche, Genzyme, Merck, Novartis, Roche, and UCB. He is Co-Chair of the Steering Committee for the Phase III REMODEL and REMASTER studies of remibrutinib in RMS and nrSPMS, respectively, as well as for the Phase III APPRAISE study of iptacopan in gMG. Novartis IR event on REMODEL data | Oct 23, 2026 3
Page 4
Participants Victor Bulto President, US Nazem Atassi, MD Global Head, Neuroscience Development Unit Heinz Wiendl, MD Professor, Director Department of Neurology and Neurophysiology, University of Freiburg Novartis IR event on REMODEL data | Oct 23, 2026 4
Page 5
Agenda Novartis IR event on REMODEL data | Oct 23, 2026 5 1 Remibrutinib: A unique BTK inhibitor 2 Remibrutinib REMODEL 1/2 results in RMS 3 Maximizing the opportunity in MS 4 Remibrutinib: A pipeline in a pill 5 Q&A
Page 6
Novartis has a long legacy in MS A history of transforming MS care 2009 TODAY Goal: Transforming SoC once again with REMODEL-1/-2 2020 1st self-administered B-cell therapy approved in RMS 2019 1st oral approved in active SPMS 2010 1st oral approved in RMS Remibrutinib is the next chapter in the Novartis MS legacy and the focus of today’s presentation Remibrutinib Novartis IR event on REMODEL data | Oct 23, 2026 6
Page 7
Trial Ph I Ph II Ph III Registration Status CSU REMIX-1/-2 Approved in US, EU, JP and CN CSU adolescent1 Phase III readout expected Q4 2026 CIndU RemIND Approved in US for SD; filings for other cohorts underway RMS REMODEL-1/-2 Phase III REMODEL-1/-2 met primary endpoint SPMS REMASTER Phase III recruiting HS RECHARGE-1/-2 Phase III ongoing; Week 16 readout expected Q4 2026 Food Allergy Phase III started (Q3 2026) CPUO Phase III started (Q3 2026) Papulopustular Rosacea Phase II started (Q3 2026) Remibrutinib is a BTK inhibitor with pipeline-in-a-pill potential Novartis IR event on REMODEL data | Oct 23, 2026 7 1. Aged 12 to <18 years Development plan for remibrutinib Multiple sclerosis
Page 8
The promise of BTK inhibition: Addressing both relapses and disability progression without chronic B-cell depletion Anti-CD20 characteristics are class-level and not from head-to-head comparisons. 1. Derfuss T et al. Ther Adv Neurol Disord 2024. 2. Pooled REMODEL-1/-2 safety set. Dual mechanism of action B-cell depletion vs. immunomodulation Periphery Adaptive immunity B cells Acute inflammation → Relapses Central nervous system Innate immunity Microglia Chronic neurodegeneration → Disability progression BBB Remibrutinib Anti-CD20s B-cell depletion Remibrutinib BTK inhibition Effect on B cells Depletes B cells Modulates B cells; B cells preserved Target Peripheral B cells B cells and myeloid cells, incl. microglia in the CNS Exposure Long-lasting effect Covalent binding; short half-life Infections Risk rises with prolonged depletion1 Comparable to teriflunomide in REMODEL2 Novartis IR event on REMODEL data | Oct 23, 2026 8
Page 9
High selectivity vs. tested BTK inhibitorsa in vitro3 CNS penetrant: above microglial IC505 Remibrutinib was designed to deliver on the potential of BTK inhibition a. Other BTK inhibitors tested: fenebrutinib, evobrutinib, orelabrutinib and tolebrutinib. No superiority or inferiority is implied; in vitro data may not correlate with clinical outcomes. 1. Krämer J et al. Nat Rev Neurol. 2023;19:289–304. 2. Angst D et al. J Med Chem. 2020;63:5102–5118. 3. Pulz R et al. Eur J Pharmacol. 2025;1002:177747. 4. Kaul M et al. Clin Transl Sci. 2021;14:1756–1768. 5. Lefevre G et al. ECTRIMS 2024; P1319. NN NH F O F H2N O N O Remibrutinib Covalent, irreversible binding for sustained BTK inhibition1–3 High potency vs. tested BTK inhibitorsa in vitro3 Optimal PK/PD with rapid absorption and short half-life4 Novartis IR event on REMODEL data | Oct 23, 2026 9 Near-complete BTK occupancy3 Distinct chemistry
Page 10
Remibrutinib has high selectivity as tested in vitro, leading to fewer off-target effects and a differentiated benefit/risk profile ASK, apoptosis signal-regulating kinase; BLK, B lymphoid kinase; BMX, bone marrow tyrosine kinase on chromosome X; BTK, Bruton’s tyrosine kinase; CD, cyclin-dependent kinase; CSK, C-terminal Src kinase; EGFR, epidermal growth factor receptor kinase; ERBB, Erb-B receptor tyrosine kinase; HCK, hematopoietic cell kinase; ITK, interleukin-inducible T-cell kinase; JAK, janus kinase; MAP2K5, mitogen-activated protein kinase Janus 5; PIP5K2C, phosphatidylinositol 5-phospahe 4-kinase type-2; SRMS, Src-related kinase lacking C-terminal regulatory tyrosine and N-terminal myristoylation sites; TEC, tec protein tyrosine kinase; TXK, TXK tyrosine kinase. Adapted from Pulz R, et al, Eur J Pharmacol. 2025;1002:177747. Inhibition: BTK, 100%; TEC, 76% Remibrutinib 1 µM Inhibition: BTK, 100%; BMX, 100%; ERBB2, 100%; ERBB4, 100%; MAP2K5, 100%; EGFR, 100%; SRMS, 99%; BLK, 99%; CSK, 99%; HCK, 98% Tolebrutinib 1 µM Inhibition: BTK, 100%; CDK3, 100%; TEC, 99% Orelabrutinib 1 µM Inhibition: BTK, 98%; TEC, 97%; BMX, 95%; BLK, 72%; CDK11, 69%; PIP5K2C, 68% Evobrutinib 1 µM Inhibition: BTK, 100%; ASK2, 81%; TEC, 70%; BMX, 65% Fenebrutinib 1 µM Remibrutinib had potent BTK inhibition and high selectivity, with no detectable binding to ITK, EGFR, ERBB2, ERBB4, or JAK3 at concentrations of up to 10 µM Percent control 0% 0.1% 0.1-1% 1-5% 5-10% 10-35% >35% Novartis IR event on REMODEL data | Oct 23, 2026 10
Page 11
Extensive clinical data reinforce remibrutinib’s proven and robust favorable safety profile 1. Giménez-Arnau AM, et al. J Allergy Clin Immunol Pract. 2026;14(8):1901-1913. Two FDA approvals for remibrutinib with a clean labelComprehensive evidence of favorable safety profile >4,500 participants across 40+ studies at doses up to 600mg • No liver safety signal, including no Hy’s law cases CSU (REMIX-1/2) safety comparable to placebo1: • AEs: 64.9 % vs 64.7% • Infections: 33.3% vs 34.0% • Liver enzyme abnormalities: <2% in each arm • Discontinuation rates: 2.8% vs 2.9% >10,000 patients treated for CSU commercially,with no liver safety signal NO boxed warning NO contraindications NO required routine lab monitoring Novartis IR event on REMODEL data | Oct 23, 2026 11
Page 12
Agenda Novartis IR event on REMODEL data | Oct 23, 2026 12 1 Remibrutinib: A unique BTK inhibitor 2 Remibrutinib REMODEL 1/2 results in RMS 3 Maximizing the opportunity in MS 4 Remibrutinib: A pipeline in a pill 5 Q&A
Page 13
REMODEL-1/-2 are two randomized, active comparator-controlled Phase III trials of identical design 13 Wiendl H et al. MSToronto 2026, O139. • Diagnosis of RMS • Age 18–55 years • EDSS 0–5.5 Remibrutinib 100 mg oral BID Teriflunomide 14 mg oral QD + remibrutinib-matching placebo BID Remibrutinib 100 mg oral BID + teriflunomide-matching placebo QD Month BL EDSS MRI 30/EOS3 6 9 12 15 18 2421 27 Extension Part (up to 5 years) Double-blind Core Part (flexible duration; up to 30 months)Screening 1:1 • Blinded sample size re-estimation to adjust sample size based on disease activity of the trial population • MRI Cohort, allowing sites to participate independent of availability of MRI infrastructure for the trials • Event-driven trials with flexible duration • Futility interim analysis based on new/enlarging T2 lesions Novartis IR event on REMODEL data | Oct 23, 2026
Page 14
Relapses & MRI activity REMODEL evaluated multiple markers of disease control: relapses, MRI activity and disability progression CDP, confirmed disability progression; PIRA, progression independent of relapse activity; NEDA-3, no evidence of disease activity-3. Wiendl H et al. MSToronto 2026, O139. Disability progression Primary Annualized relapse rate (ARR) Key secondary Annualized rate of new/enlarging T2 lesions Number of Gd+ T1 lesions per scan Key secondary Time to 3-month CDP Time to 6-month CDP Proportion of patients with NEDA-3 Serum NfL concentration Safety and tolerability Safety endpoints AEs, SAEs, AEs leading to discontinuations, liver enzyme elevations and other laboratory changes Novartis IR event on REMODEL data | Oct 23, 2026 14 Secondary 6-month PIRA
Page 15
Baseline characteristics were well balanced between treatment arms and across the two trials 15 Full analysis set, except for MRI data which are based on the MRI analysis set. Data are mean (SD) unless otherwise indicated. Wiendl H et al. MSToronto 2026, O139. REMODEL-1 REMODEL-2 Remibrutinib (N=502) Teriflunomide (N=498) Remibrutinib (N=504) Teriflunomide (N=503) Demographics Age, years 38.1 (10.0) 38.3 (9.6) 39.0 (10.0) 39.1 (9.4) Female, n (%) 326 (64.9) 340 (68.3) 340 (67.5) 335 (66.6) Disease duration Time since first symptoms, years 6.3 (6.9) 6.9 (7.6) 6.4 (7.1) 6.3 (7.1) Time since diagnosis, years 4.3 (6.0) 4.9 (6.6) 4.5 (6.3) 4.4 (6.3) Disease characteristics MS type: RRMS, n (%) 482 (96.0) 483 (97.0) 495 (98.2) 496 (98.6) MS type: SPMS, n (%) 20 (4.0) 15 (3.0) 9 (1.8) 7 (1.4) Number of relapses in the previous year 1.1 (0.5) 1.1 (0.5) 1.1 (0.5) 1.1 (0.6) EDSS 2.57 (1.4) 2.56 (1.3) 2.52 (1.4) 2.43 (1.3) Patients free of Gd+ T1 lesions, n (%) 250 (70.6) 264 (71.9) 225 (71.9) 219 (68.7) Treatment status Treatment-naïve, n (%) 319 (63.5) 307 (61.6) 296 (58.7) 289 (57.5) Previous disease-modifying therapy, n (%) 183 (36.5) 191 (38.4) 208 (41.3) 214 (42.5) On average, patients had >6 years since first MS symptoms and >4 years since diagnosis. Novartis IR event on REMODEL data | Oct 23, 2026
Page 16
Primary endpoint met: Remibrutinib demonstrated strong relapse control, translating to 1 relapse every ~13 years Novartis IR event on REMODEL data | Oct 23, 2026 16 Primary endpoint analyzed based on full analysis set using negative binomial regression model. *Indicates statistical significance (2-sided) at the 0.05 level. Wiendl H et al. MSToronto 2026, O139. REMODEL-1 REMODEL-2 0.112 0.073 0.00 0.05 0.10 0.15 0.20 Adjusted ARR (95% CI) Teriflunomide 1 relapse every ~9 years Remibrutinib 1 relapse every ~14 years 35.2% relative reduction Rate ratio: 0.648 95% CI: 0.453, 0.927 P=0.018* ↓ 0.116 0.080 0.00 0.05 0.10 0.15 0.20 Adjusted ARR (95% CI) Teriflunomide 1 relapse every ~9 years Remibrutinib 1 relapse every ~13 years 31.2% relative reduction Rate ratio: 0.688 95% CI: 0.487, 0.972 P=0.034* ↓
Page 17
0.21 0.070.24 0.08 Remibrutinib significantly reduced MRI lesion activity by 65-70%, demonstrating broad inflammatory control Novartis IR event on REMODEL data | Oct 23, 2026 17 Endpoint analyzed based on MRI analysis set using negative binomial regression model. * Indicates statistical significance (2-sided) at the 0.05 level. Wiendl H et al. MSToronto 2026, O139. New/enlarging T2 lesions – annualized rate Gd+ T1 lesions per scan REMODEL-1 REMODEL-2 RR 0.35, 95% CI: 0.25, 0.48 P<0.001* RR 0.30, 95% CI: 0.21, 0.41 P<0.001* 2.71 0.94 65.3% relative reduction ↓ Teriflunomide Remibrutinib Teriflunomide Remibrutinib 2.77 0.82 70.3% relative reduction ↓ REMODEL-1 REMODEL-2 RR 0.34, 95% CI: 0.22, 0.51 P<0.001* RR 0.34, 95% CI: 0.23, 0.50 P<0.001* 66.3% relative reduction ↓ Teriflunomide Remibrutinib Teriflunomide Remibrutinib 66.2% relative reduction ↓
Page 18
Number at risk Remibrutinib 1006 951 863 790 726 654 598 538 465 370 3 Teriflunomide 1001 934 829 743 672 606 546 496 439 345 1 Remibrutinib achieved a clinically meaningful delay in disability progression: >92% of patients remained progression-free as assessed by 6mCDP through 24 months Novartis IR event on REMODEL data | Oct 23, 2026 18 Pre-specified combined analyses. Endpoints analyzed based on MRI analysis set using Cox proportional hazards models. *Indicates nominal statistical significance (2-sided) at the 0.04875 level. Wiendl H et al. MSToronto 2026, O139. 3-month CDP 6-month CDP KM estimate of cumulative event rate (%) 20.5% risk reduction Hazard ratio: 0.8 95% CI: 0.61, 1.04 P=0.090 Remibrutinib Teriflunomide 14.1% 11.7% 20 15 10 5 0 3 6 9 12 15 18 21 24 27 30 Study Month 0 Number at risk Remibrutinib 1006 961 878 804 742 671 616 554 482 391 3 Teriflunomide 1001 939 844 759 689 622 561 512 453 364 1 KM estimate of cumulative event rate (%) 0 3 6 9 12 15 18 21 24 27 30 Study Month 29.2% risk reduction Hazard ratio: 0.7 95% CI: 0.51, 0.98 P=0.038* 15 10 5 0 10.5% 7.7% Remibrutinib Teriflunomide
Page 19
• 3mCDP captures worsening confirmed at 3 months; 6mCDP requires that worsening to persist for 6 months • Worsening that improves or resolves 3-6 months after a relapse may count in 3mCDP but not in 6mCDP • Over 92% of patients on remibrutinib remained free from 6mCDP at 2 years Remibrutinib achieved a clinically meaningful delay in disability progression: >92% of patients remained progression-free as assessed by 6mCDP through 24 months Novartis IR event on REMODEL data | Oct 23, 2026 19 Pre-specified combined analyses. Endpoints analyzed based on MRI analysis set using Cox proportional hazards models. *Indicates nominal statistical significance (2-sided) at the 0.04875 level. Wiendl H et al. MSToronto 2026, O139. 6-month CDP Number at risk Remibrutinib 1006 961 878 804 742 671 616 554 482 391 3 Teriflunomide 1001 939 844 759 689 622 561 512 453 364 1 KM estimate of cumulative event rate (%) 0 3 6 9 12 15 18 21 24 27 30 Study Month 29.2% risk reduction Hazard ratio: 0.7 95% CI: 0.51, 0.98 P=0.038* 15 10 5 0 10.5% 7.7% Remibrutinib Teriflunomide Remibrutinib reduced the risk of 6mCDP by nearly 30%, with separation of the curves as early as month 3 6-month CDP provides a more clinically meaningful measure of sustained disability progression
Page 20
Patients on remibrutinib were ~3x more likely to achieve overall disease control (NEDA-3) vs. teriflunomide Novartis IR event on REMODEL data | Oct 23, 2026 20 Pre-specified combined analysis. Endpoint analyzed based on MRI analysis set using logistic regression model. *Indicates nominal statistical significance (2-sided) at the 0.04875 level. 1. NEDA-3 defined as free of confirmed MS relapses, 6mCDP, and new/enlarging T2 lesions, with MRI re-baselined at Month 3. Intermediate missing values were considered not free of disease activity. Wiendl H et al. MSToronto 2026, O139. NEDA-3 is a composite measure1 requiring freedom from all 3: ~2x patients achieved NEDA-3 with remibrutinib vs. teriflunomide No relapses No disability progression No new MRI lesions NEDA-3 + + = ~3x higher odds of achieving overall disease control for patients on remibrutinib vs. teriflunomide NEDA-3 32.1 55.0 0 20 40 60 Patients with NEDA-3 (%) Teriflunomide Remibrutinib Odds ratio 2.81 Odds ratio: 2.81 95% CI: 2.22, 3.55 P<0.001* ↓
Page 21
13.00 12.05 9 10 11 12 13 14 Geometric mean sNfL (pg/mL) Remibrutinib significantly reduced serum NfL levels vs. teriflunomide, providing biomarker support for reduced progression Novartis IR event on REMODEL data | Oct 23, 2026 21 Endpoints analyzed based on full analysis set using repeated-measures model. *Indicates statistical significance (2-sided) at the 0.05 level. Wiendl H et al. MSToronto 2026, O139. REMODEL-1 REMODEL-2 12.73 11.57 9 10 11 12 13 14 Geometric mean sNfL (pg/mL) Teriflunomide Remibrutinib 9% relative reduction Geometric mean ratio at Month 12: 0.91 95% CI: 0.87, 0.95 P<0.001* ↓ Teriflunomide Remibrutinib 7% relative reduction Geometric mean ratio at Month 12: 0.93 95% CI: 0.88, 0.98 P=0.004* ↓
Page 22
Remibrutinib showed a clinically meaningful delay in 6-month confirmed disability progression independent of relapse activity (6mPIRA) vs. teriflunomide Novartis IR event on REMODEL data | Oct 23, 2026 22 1. Secondary endpoint. Time to 6mCDP independent of relapse activity (6mPIRA) is analyzed with patients who have an on-study relapse before or on the day of progression censored at relapse onset; IPCW accounts for relapse-related censoring. 6mCDP is defined as EDSS increase from BL ≥1.5 (BL=0), ≥1.0 (BL 1-5), or ≥0.5 (BL ≥5.5), confirmed over 6 months. 6mPIRA1 0 3 6 9 12 15 18 21 24 27 33 Study Month KM estimate of cumulative event rate (%) 12 9 6 3 0 30 28.3% risk reduction Hazard ratio: 0.7 95% CI: 0.51, 1.01 P=0.055 Remibrutinib Teriflunomide 9.1% 6.5% Unlike CDP, PIRA measures disability progression independent of relapses • 6mPIRA reduced by ~30% • Pattern consistent with 3mCDP and 6mCDP • Separation of the curves as early as month 3 Number at risk Remibrutinib 1144 1079 972 875 791 707 640 569 490 398 2 0 Teriflunomide 1197 1087 945 830 743 658 588 527 466 372 1 0
Page 23
Remibrutinib demonstrated a robust, favorable safety profile, with nearly 50% fewer AE-related discontinuations vs. teriflunomide Novartis IR event on REMODEL data | Oct 23, 2026 23 *One case of accidental carbon monoxide poisoning (suicide ruled out) and one case of suicide. Both were assessed as not related to study treatment by the investigators. Analysis based on safety set. Data are the number of patients with at least one event and the percentage of patients in each group: n (%). Wiendl H et al. MSToronto 2026, O139. Pooled REMODEL-1 & REMODEL-2 Remibrutinib (N=1006) Teriflunomide (N=1001) Adverse events 800 (79.5) 816 (81.5) Serious adverse events 60 (6.0) 70 (7.0) Adverse events leading to treatment discontinuation 31 (3.1) 58 (5.8) Deaths* 2 (0.2) 0 Infections Upper respiratory tract infection 132 (13.1) 137 (13.7) Nasopharyngitis 92 (9.1) 123 (12.3) Urinary tract infection 80 (8.0) 79 (7.9) Influenza 78 (7.8) 62 (6.2) Bleeding events Petechiae 41 (4.1) 0 Contusion 23 (2.3) 16 (1.6) • Treatment discontinuations due to adverse events with remibrutinib were infrequent and lower than with teriflunomide • Infections were balanced between treatments with no opportunistic infections • Bleeding events were predominantly minor with no related serious events
Page 24
Pooled REMODEL-1 & REMODEL-2 Newly occurring ALT elevations Remibrutinib (N=1006) Teriflunomide (N=1001) ALT >3 × ULN 20 (2.0) 73 (7.4) ALT 3–5 × ULN 15 (1.5) 46 (4.6) ALT 5–10 × ULN 3 (0.3) 20 (2.0) ALT 10–20 × ULN 2 (0.2) 5 (0.5) ALT 20 × ULN 0 2 (0.2) ALT >3 × ULN and total bilirubin >2 × ULN (Hy’s law) 0 0 Remibrutinib showed no liver safety signal, with ALT elevations below teriflunomide and in line with approved indications Novartis IR event on REMODEL data | Oct 23, 2026 24 Analysis based on safety set. Data are the number of patients with at least one event and the percentage of patients in each group: n (%). Denominator is the number of patients at risk (patients having a baseline measurement not meeting the criterion or missing but at least one post-baseline measurement). 1. TEMSO: O'Connor P et al. N Engl J Med 2011. CONFIRM: Fox RJ et al. N Engl J Med 2012; Glatiramer Acetate. LiverTox, NCBI Bookshelf. AFFIRM: Polman CH et al. N Engl J Med 2006. DEFINE: Dimethyl Fumarate. LiverTox, NCBI Bookshelf. PERSEUS and HERCULES: Fox RJ et al. N Engl J Med 2025; Reich D et al. ACTRIMS 2026. REMODEL-1/-2: Novartis data on file. • Remibrutinib showed fewer ALT elevations than teriflunomide at every threshold assessed • ALT elevations on remibrutinib were infrequent, asymptomatic, transient and reversible, and in line with the background range reported in placebo arms of prior MS trials1
Page 25
Remibrutinib is a highly selective BTK inhibitor offering comprehensive disease control and a robust favorable safety profile, without chronic B-cell depletion Next steps: Global regulatory filings ongoing; US expected by EOY with priority review voucher Novartis IR event on REMODEL data | Oct 23, 2026 25 Remibrutinib delivered comprehensive disease control… Relapses reduced to 1 every ~13 years MRI activity reduced by 65-70% >92% of patients free from disability progression (6mCDP)1 ~3x more likely to achieve NEDA-3 6-month PIRA reduced by ~30% …with a robust favorable safety profile No liver safety signals No infection imbalances Nearly 50% fewer discontinuations due to AEs Immunomodulation without B-cell depletion 1. Clinically meaningful delay in disability progression: >92% of patients remained progression-free as assessed by 6mCDP through 24 months, nominal statistical significance.
Page 26
1 Remibrutinib: A unique BTK inhibitor 2 Remibrutinib REMODEL 1/2 results in RMS 3 Maximizing the opportunity in MS 4 Remibrutinib: A pipeline in a pill 5 Q&A Agenda Novartis IR event on REMODEL data | Oct 23, 2026 26
Page 27
~60k ~140k ~40k Naïve Oral Anti-CD20 Other Total US ~440k Total Ex-US Total treated RMS Remibrutinib has broad potential to address patient needs across the RMS treatment landscape Treated patients on a DMT. 2025. Source: IQVIA, Spherix Chart Study, Stethos, JMDC, Novartis. Naïve = new patients per year (incidence) that receive a DMT; Oral, CD20 and Other switches = prevalent patients on each class (Others = BRACEs and other infusions). Ex-US = Top 7 ex-US markets (EU5, Japan, Canada). RMS patients treated globally 2025 ~40k ~720k 1 2 3 4 Novartis IR event on REMODEL data | Oct 23, 2026 27 ~280k
Page 28
Up to ~30% not prescribed an anti-CD20 ~30% of naïve patients in the US are not prescribed an anti-CD20, citing safety trade-offs and route of administration preferences Naïve = new patients per year (incidence) that receive a DMT, 2025 . Sources: IQVIA, Spherix Chart Study, Novartis. 1. Comprehensive disease control demonstrated by remibrutinib’s relapse reduction (primary endpoint), MRI activity, clinically meaningful delay in disability progression with nominal statistical significance, and improved NEDA-3 assessment (secondary endpoints). Data presented at Wiendl H et al. MSToronto 2026, O139. 1 Naïve patients Remibrutinib's value proposition in this patient population • Remibrutinib offers comprehensive disease control1 with a robust favorable safety profile in an oral, without the burden of frequent injections or infusion center visits • A treatment with a safety profile that allows patients to start early and stay on for the long term US naïve MS patients 2025 incidence Novartis IR event on REMODEL data | Oct 23, 2026 28 ~40k ~15% start on an oral
Page 29
2 ~20% of oral patients switch each year, and up to ~40% are at risk of treatment failure due to efficacy or intolerance US treated patients on oral DMTs, 2025. Sources: IQVIA, Novartis. Assumes annual switchers sit within the group at risk of treatment failure. 1. Norborg H, et al. Mult Scler J Exp Transl Clin. 2021;7(2):20552173211022027. 2. Vollmer B, et al. Neurol Clin Pract. 2018;8(4):292–301. 2 Oral patients Remibrutinib's value proposition in this patient population • Remibrutinib is a differentiated oral option, outperforming teriflunomide on comprehensive disease control and safety with ~50% fewer discontinuations due to AEs • Initial focus on the ~40% of oral patients who are switching or continuing despite poor treatment outcomes, with opportunity to expand over time • Growing safety focus expected to support a higher switch rate over time US MS patients on orals 2025 prevalence ~60k Up to ~40% at risk of treatment failure¹ ~60% current disease control1 Novartis IR event on REMODEL data | Oct 23, 2026 29 ~20% switch each year
Page 30
3 Anti-CD20 patients are the largest segment of the US market today, with up to ~45% eligible to sequence US treated patients on anti-CD20s, 2025. Sources: IQVIA, Novartis. Assumes annual switchers sit within the group eligible to sequence. 3 ~10% switch each year Anti-CD20 patients Remibrutinib's value proposition in this patient population • As patients age and accumulate treatment exposure, concerns around infection risk and long-term B-cell depletion become more relevant • Remibrutinib offers comprehensive disease control and a robust favorable safety profile without the need for chronic B-cell depletion • Phase IIIb RESHAPE study expected to provide further evidence to inform post anti-CD20 switch US MS patients on anti-CD20s 2025 prevalence ~140k Up to ~45% eligible to sequence ~55% continuing on anti-CD20s Novartis IR event on REMODEL data | Oct 23, 2026 30
Page 31
4 Ex-US represents a significant opportunity for remibrutinib, as orals remain a sizeable segment Novartis IR event on REMODEL data | Oct 23, 2026 31 Top 7 ex-US markets (EU5, Japan, Canada), 2025 Source: IQVIA, Stethos, JMDC, Novartis. Other remaining patients on other therapies not shown, including BRACEs and other infusions. 1. Comprehensive disease control demonstrated by remibrutinib’s relapse reduction (primary endpoint), MRI activity, clinically meaningful delay in disability progression with nominal statistical significance, and improved NEDA-3 assessment (secondary endpoints). Data presented at Wiendl H et al. MSToronto 2026, O139. 4 Ex-US patients Remibrutinib's value proposition in this patient population • ~60% of mild-to-moderate naïve patients in EU5 start on orals • Anti-CD20 is the fastest-growing class, creating an increasing post-anti-CD20 opportunity • Remibrutinib offers high-efficacy oral option with comprehensive disease control1 and favorable safety without the need for chronic B-cell depletion • Strong ex-US commercial capabilities in MS to maximize the opportunity; Kesimpta leading NBRx share in 7 of top 10 markets Top 7 ex-US markets treated MS patients 2025 incidence + prevalence ~440k ~10% naïve patients each year ~32% on anti-CD20s ~38% on orals
Page 32
Studies underway to support switching in RMS and expansion into SPMS REMODEL-1/-2: NCT05147220, NCT05156281; RESHAPE: NCT06846281; REMASTER: NCT07225504. READOUT ENDPOINTS ARR primary Key secondary: MRI lesions, CDP, NEDA-3 New/enlarging T2 lesions primary · non-inferiority vs. ocrelizumab Key secondary: NEDA-3 6-month CDP primary · vs. placebo Key secondary: 3-month CDP 1 REMODEL Phase III · RMS – treatment-naïve and switchers Comprehensive disease control with a robust favorable safety profile in RMS 2 RESHAPE Phase IIIb · RMS – switching from ocrelizumab The oral option after anti-CD20, without chronic B-cell depletion 3 REMASTER Phase III · Non-relapsing SPMS Potential to slow disability progression in nrSPMS Planning additional studies in other settings and after other therapies to inform and support switching 1 2 3 2026 2028 2031 Novartis IR event on REMODEL data | Oct 23, 2026 32
Page 33
Remibrutinib has the potential to be a USD 4bn+ medicine in RMS, with potential further upside from nrSPMS Novartis IR event on REMODEL data | Oct 23, 2026 33 Treated patients on a DMT. 2025. Source: IQVIA, Spherix Chart Study, Stethos, JMDC, Novartis. Naïve = new patients per year (incidence) that receive a DMT; Oral, CD20 and Other switches = prevalent patients on each class (Others = BRACEs and other infusions). Ex-US = Top 7 ex-US markets (EU5, Japan, Canada). 1. nrSPMS is defined by relapse history and includes patients with MRI activity. The ~85k estimate is based on treated non-active SPMS (naSPMS) patients; as nrSPMS is a broader, overlapping population, the estimate may be conservative. ~60k ~40k Other Total Ex-US Total treated RMS Total treated nrSPMS1 Total treated RMS+nrSPMS Anti-CD20OralNaïve Total US ~40k ~140k ~280k ~440k ~720k ~85k ~805k RMS+nrSPMS patients treated globally 2025 Target population for remibrutinib
Page 34
16% 61%57% 94% Unaided Aided 2023 2026 Remibrutinib launches into an established MS footprint in the US Sources: Novartis data; Market Access: MMIT, LLC database. overlap with established Kesimpta prescribers (92% of TRx writers) unaided awareness of Kesimpta, up from 16% over three years of US lives secured for Kesimpta of patients received Kesimpta when requested 91% 88% Total lives Commercial, 1L Same prescribers, proven patient activation, and a track record of securing favorable access Novartis IR event on REMODEL data | Oct 23, 2026 34 01 HCP Reach 02 Patient Awareness 03 Market Access 04 Request Conversion 100% +41 pts 91% 90%
Page 35
Building on capabilities compounded across multiple US self-administered specialty launches Dispense time: Kisqali and Kesimpta examples (paid and bridge). Access: Fabhalta IgAN 68% at 5 months post-launch; Kisqali eBC 79% commercial access to label at 5 months. Source: Novartis Immunology Investor Event, Oct 30, 2025. >70% access to label within 6 months Achieved across recent launches ~30 days average conversion to paid drug Fast pull-through once coverage is in place +20% engagement effectiveness For three consecutive years, across the portfolio Recent US self-administered specialty launches Kesimpta Neuroscience Kisqali Oncology Fabhalta Renal/Hematology Rhapsido Immunology Patient support Market access Free-to-paid Customer engagement 3–5 days average time to dispense Fully owned patient support model with industry-leading bridge program A proven launch engine enables fast access, rapid onboarding and effective engagement Novartis IR event on REMODEL data | Oct 23, 2026 35
Page 36
Agenda Novartis IR event on REMODEL data | Oct 23, 2026 36 1 Remibrutinib: A unique BTK inhibitor 2 Remibrutinib REMODEL 1/2 results in RMS 3 Maximizing the opportunity in MS 4 Remibrutinib: A pipeline in a pill 5 Q&A
Page 37
Trial Ph I Ph II Ph III Registration Status CSU REMIX-1/-2 Approved in US, EU, JP and CN CSU adolescent1 Phase III readout expected Q4 2026 CIndU RemIND Approved in US for SD; filings for other cohorts underway RMS REMODEL-1/-2 Phase III REMODEL-1/-2 met primary endpoint SPMS REMASTER Phase III recruiting HS RECHARGE-1/-2 Phase III ongoing; Week 16 readout expected Q4 2026 Food Allergy Phase III started (Q3 2026) CPUO Phase III started (Q3 2026) Papulopustular Rosacea Phase II started (Q3 2026) Remibrutinib is a BTK inhibitor with pipeline-in-a-pill potential Novartis IR event on REMODEL data | Oct 23, 2026 37 1. Aged 12 to <18 years Development plan for remibrutinib Multiple sclerosis
Page 38
>10k US patients treated Opportunity ~500k US CSU patients uncontrolled on antihistamines and seen by specialists Ex-US rollout ongoing: >3k patients treated in China; launches underway in Europe Upcoming catalysts US launch metrics Rhapsido launch in CSU is the first commercial proofpoint for remibrutinib, with strong momentum building towards first-line leadership Launch metrics as reported at Q2 2026 results (July 21, 2026); US unless otherwise stated. Timings are current expectations and subject to change. >4k US prescribers; roughly half allergists, half dermatologists >60% of patients treated first-line 2 of 3 major PBMs cover at PA-to- label 9 months into launch Adolescent Phase III readout Q4 2026 Phase IIIb RECLAIM study H2H vs. Dupixent readout H1 2027 Oral, twice daily No required routine lab monitoring Novartis IR event on REMODEL data | Oct 23, 2026 38
Page 39
Rhapsido expanding into CIndU with the first and only FDA approval in SD, building on the same prescriber base as CSU RemIND SD data per US prescribing information; ~100k uncontrolled patients and SD share of CIndU as reported at Q2 2026 results (July 21, 2026). Timings are current expectations and subject to change. Oral, twice daily No required routine lab monitoring 2/3 of CIndU patients have symptomatic dermographism (SD) Opportunity ~100k US CIndU patients uncontrolled on antihistamines Same allergists and dermatologists already prescribing Rhapsido in CSU Next steps First CIndU approval in SD (October 2026) >50% remain symptomatic despite taking H1 antihistamines 2x adults taking Rhapsido achieved complete hive resolution by Week 12 vs. PBO Global filings across all three subtypes (SD, ColdU, CholU) expected in Q4 2026 Novartis IR event on REMODEL data | Oct 23, 2026 39
Page 40
Phase II: Biologic-like efficacy at Week 16 vs. PBO2 Broad symptom improvement; reductions in abscess/inflammatory nodule counts, draining tunnels and skin pain Placebo (pooled, N=49) Responders at Week 16 (%), observed with NRI; Phase IIb platform study (Cohort D) Phase II data support remibrutinib as an oral option in HS, a large and undertreated market 1. Novartis target patient populations 2026 2. Kimball AB, et al. AAD 2024 (NCT03827798). HiSCR 50/75/90, ≥50/75/90% reduction in abscess and inflammatory nodule count with no increase in abscesses or draining tunnels. 3. Phase III NCT07665437. Timings are current expectations and subject to change. 32.7% 18.4% 8.2% 69.7% 42.4% 36.4% HiSCR 50 HiSCR 75 HiSCR 90 Unmet need • Chronic and debilitating disease characterized by painful nodules, abscesses and tunnels with scarring • ~440k US moderate-to-severe patients; ~20% diagnosed, ~20% on advanced therapy1 • USD 3-5bn market potential RECHARGE-1/-2 Phase III design3 • Two identical trials; 2 doses vs. placebo • N=555 per trial; biologic-naïve and experienced patients • Primary endpoint: HiSCR50 at Week 16 Remibrutinib 25 mg bid (N=33) Commercial fit Existing dermatology footprint with Cosentyx and Rhapsido Potential foundational oral option aligned with dermatology practice preferences Phase III Week 16 readout expected Q4 2026 with first filing in 2027 Novartis IR event on REMODEL data | Oct 23, 2026 40
Page 41
Phase II: Dose-dependent response at Week 43 % tolerating ≥600 mg peanut protein at Week 4 (DBPCFC); Phase II, adults Rapid, dose-dependent Phase II results support remibrutinib’s multi-allergen Phase III program in food allergy 1. Novartis target patient populations 2026 High-risk: history of anaphylaxis/ER visits, multiple food allergies, low reaction threshold or other risk factors. 2. Phase III NCT07768371 peanut, or cow's milk ("milk", cooked and uncooked) or hen's egg ("egg", cooked and uncooked) 3. Wood RA, et al. AAAAI 2026. Unmet need • >3.5 million high-risk eligible patients across major markets1 • Few targeted options; constant risk of accidental exposure • Need for fast, allergen-agnostic protection Phase III design2 • Remibrutinib 75 mg bid vs. placebo • Multi-allergen focus for the global market • Patients aged 12–65 years Commercial fit Potential for fast onset, Phase II as early as Week 1 Potential oral option with allergen-agnostic efficacy Phase III initiated in Q3 2026 with expected readout ≥2029 0.0% 40.0% 50.0% 86.7% Placebo (0/7) 10 mg bid (6/15) 25 mg bid (8/16) 100 mg bid (13/15) Targeting the same allergists who prescribe Rhapsido in CSU Novartis IR event on REMODEL data | Oct 23, 2026 41
Page 42
Key takeaways: Remibrutinib in MS and beyond Novartis IR event on REMODEL data | Oct 23, 2026 42 1. >92% of patients remained progression-free as assessed by 6mCDP through 24 months, nominal statistical significance. Differentiated by design • Highly selective, potent, covalent BTK inhibitor • Immunomodulation without chronic B-cell depletion Comprehensive disease control Robust favorable safety profile Scale to maximize the opportunity Pipeline in a pill • Significant reductions in relapses and MRI lesion activity • Clinically meaningful delay in disability progression1 • No liver safety signal • No infection imbalances vs. teriflunomide • Nearly 50% fewer discontinuations due to AEs • Broad potential across naïve, oral and anti- CD20 switch patients • Launching into an established MS footprint • USD 4bn+ peak sales potential in RMS, with upside from nrSPMS • USD 4bn+ peak sales potential in CSU / CIndU • Phase III HS study reading out Q4 2026 • Additional studies ongoing in FA, CPUO and papulopustular rosacea
Page 43
Appendix
Page 44
Abbreviations Novartis IR event on REMODEL data | Oct 23, 2026 44 6mCDP, 6-month confirmed disability progression AE, adverse event ALT, alanine aminotransferase ARR, annualized relapse rate BBB, blood–brain barrier BID, twice daily BL, baseline CDP, confirmed disability progression CholU, cholinergic urticaria CI, confidence interval CIndU, chronic inducible urticaria CNS, central nervous system ColdU, cold urticaria CPUO, chronic pruritus of unknown origin CSF, cerebrospinal fluid CSU, chronic spontaneous urticaria DBPCFC, double-blind, PBO-controlled food challenge DMT, disease-modifying therapy EDSS, Expanded Disability Status Scale EOS, end of study Gd+, gadolinium-enhancing H1, histamine-1 H2H, head-to-head HCP, healthcare professional HiSCR, Hidradenitis Suppurativa Clinical Response HS, hidradenitis suppurativa IPCW, inverse probability of censoring weighting IV, intravenous KM, Kaplan–Meier MRI, magnetic resonance imaging MS, multiple sclerosis NBRx, new-to-brand prescriptions NEDA-3, no evidence of disease activity-3 neT2, new or enlarging T2 lesions NfL, neurofilament light chain NRI, non-responder imputation nrSPMS, non-relapsing SPMS PA, prior authorization PBM, pharmacy benefit manager PBO, placebo PIRA, progression independent of relapse activity PK/PD, pharmacokinetic/pharmacodynamic QD, once daily RMS, relapsing multiple sclerosis RR, rate ratio RRMS, relapsing-remitting multiple sclerosis SAE, serious adverse event SC, subcutaneous SD, standard deviation; symptomatic dermographism sNfL, serum neurofilament light chain SoC, standard of care SPMS, secondary progressive multiple sclerosis T25FW, Timed 25-Foot Walk TRx, total prescriptions ULN, upper limit of normal
Page 45
RESHAPE could establish remibrutinib as the oral sequencing option after anti-CD20 therapy Who is enrolled • RMS, aged ≥40 years • EDSS 0–6.5 • On ocrelizumab ≥18 months • Suitable to switch per physician or patient preference • N ≈ 360 Screening Open-label core (24 months) Open-label extension (24 months) Up to 35 days R 1:1 Switch to remibrutinib 100 mg bid (n≈180) Continue ocrelizumab IV/SC every 6 months (n≈180) All participants on remibrutinib 100 mg bid Primary endpoint Annualized rate of neT2 lesions on MRI at Month 24 (non-inferiority vs ocrelizumab) Key secondary NEDA-3 status at Month 24 (non- inferiority) Also measured Safety in older, B-cell-depleted patients; relapses, disability and PIRA (exploratory) Novartis IR event on REMODEL data | Oct 23, 2026 45
Page 46
REMASTER would extend remibrutinib from relapsing MS into progressive disease Who is enrolled • SPMS, aged 18–65 years • EDSS 3.0–6.0 • No relapses in prior 24 months • Documented progression in prior 12 months • N ≈ 1,275 Screening Double-blind core (event-driven, ~4.5–5 years) Open-label extension (up to 3 years) Up to 35 days R 2:1 Remibrutinib 100 mg bid Placebo bid All participants on remibrutinib 100 mg bid Primary endpoint Time to 6-month confirmed disability progression (6mCDP) on EDSS vs placebo Key secondary Time to 3mCDP on EDSS Also measured Walking (T25FW) and hand function (9- HPT), MRI lesions, brain atrophy, cognition, safety Novartis IR event on REMODEL data | Oct 23, 2026 46