# EDGAR Filing Document

**Accession Number:** 0001114448
**File Stem:** 0001104659-26-010334
**Filing Date:** 2026-2
**Character Count:** 26492
**Document Hash:** ea78713e1cfa3a87337a0f4f1cb7480a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-010334.hdr.sgml**: 20260204

**ACCESSION NUMBER**: 0001104659-26-010334

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 15

**FILED AS OF DATE**: 20260204

**DATE AS OF CHANGE**: 20260204

**EFFECTIVENESS DATE**: 20260204

**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:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-293197
- **FILM NUMBER:** 26598719

**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

**As filed with the Securities and Exchange Commission on February 4, 2026**

**Registration No. 333-**

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM S-8**

**REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933**

**Novartis AG**

(Exact name of registrant as specified in its charter)

---

| | |
|:---|:---|
| **Switzerland** | **N/A** |
| (State or other jurisdiction of<br> incorporation or organization)<br>| (I.R.S. Employer<br> Identification No.)<br>|

---

**Lichtstrasse 35**

**CH-4056 Basel, Switzerland**

(Address of principal executive offices)

**Novartis Corporation Employee Share Purchase Plan for North American Employees**

(Full title of the plan)

**Karen L. Hale**

**Chief Legal & Compliance Officer**

**Novartis AG**

**Lichtstrasse 35**

**CH-4056 Basel, Switzerland**

(Name and address of agent for service)

**+41 61 324 1111**

(Telephone number, including area code, of agent for service)

**Copy to:**

**Yasin Keshvargar<br> Davis Polk & Wardwell LLP<br> 450 Lexington Avenue<br> New York, New York 10017<br> +1 212 450 4000**

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer ⌧ Accelerated filer ◻ Non-accelerated filer ◻ Smaller reporting company ◻

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ◻

**EXPLANATORY NOTE**

This Registration Statement on Form S-8 is being filed with the United States Securities and Exchange Commission (the "Commission") for the purpose of registering an additional 10,000,000 ordinary shares, nominal value CHF 0.49 per share, of Novartis AG (the "Company") that may be offered and sold under Novartis Corporation Employee Share Purchase Plan for North American Employees. In accordance with General Instruction E of Form S-8, the contents of the Company's previously filed Registration Statement on [Form S-8 (Registration No. 333-258081)](https://www.sec.gov/Archives/edgar/data/1114448/000110465921094707/tm2122611d1_s8.htm) filed with the Commission on July 22, 2021 are hereby incorporated by reference herein to the extent not otherwise amended or superseded by the contents hereof. In accordance with the instructional note to Part I of Form S-8 as promulgated by the Commission, the information specified by Part I of Form S-8 has been omitted from this Registration Statement.

**PART II**

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT**

**Item 3.** **INCORPORATION OF DOCUMENTS BY REFERENCE**

The following documents previously filed with or furnished to the Commission by Novartis AG (the "**Registrant**") are incorporated by reference herein and shall be deemed to be part hereof:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) [Registrant's Annual Report on Form 20-F for the year ended December 31, 2025, filed with the Commission on February 4, 2026](https://www.sec.gov/ix?doc=/Archives/edgar/data/1114448/000111444826000004/nvs-20251231.htm);

All documents filed with the Commission by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934 (the "**Exchange Act**") subsequent to the date hereof and prior to the filing of a post-effective amendment indicating that all securities offered herein have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference into this Registration Statement and to be a part hereof from the date such reports are filed.

Any statement contained herein or in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes hereof or of the related prospectus to the extent that a statement contained herein or in any other subsequently filed document which is also incorporated or deemed to be incorporated herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

**Item 8.** **EXHIBITS**

---

| | |
|:---|:---|
| **Exhibit**<br>**Number** | <br>**Exhibit** |
| [4.1](https://www.sec.gov/Archives/edgar/data/1114448/000111444826000004/a26020420f-ex1_1.htm) | [Articles of Incorporation of Novartis AG, as amended March 7, 2025 (English translation) (incorporated by reference to Exhibit 1.1 to Novartis AG's Annual Report on Form 20-F as filed with the Commission on February 4, 2026).](https://www.sec.gov/Archives/edgar/data/1114448/000111444826000004/a26020420f-ex1_1.htm) |
| [4.2](https://www.sec.gov/Archives/edgar/data/1114448/000137036825000004/a25013120f-ex1_2.htm) | [Organizational Regulations of Novartis AG, effective January 1, 2025 (incorporated by reference to Exhibit 1.2 to Novartis AG's Annual Report on Form 20-F as filed with the Commission on January 31, 2025).](https://www.sec.gov/Archives/edgar/data/1114448/000137036825000004/a25013120f-ex1_2.htm) |
| [4.3](https://www.sec.gov/Archives/edgar/data/1114448/000110465922127792/tm2227652d1_ex99-a.htm) | [Form of Amended and Restated Deposit Agreement, among Novartis AG, JPMorgan Chase Bank, N.A., as depositary, and all Holders and Beneficial Owners from time to time of American Depositary Receipts issued thereunder (incorporated by reference to Exhibit 99.A to the Registration Statement on Form F-6 as filed with the SEC on December 16, 2022).](https://www.sec.gov/Archives/edgar/data/1114448/000110465922127792/tm2227652d1_ex99-a.htm) |
| [4.4](https://www.sec.gov/Archives/edgar/data/1114448/000110465922127792/tm2227652d1_ex99-a.htm) | [Form of American Depositary Receipt (included in Exhibit 2.1 incorporated by reference to Exhibit 99.A to the Registration Statement on Form F-6 as filed with the SEC on December 16, 2022).](https://www.sec.gov/Archives/edgar/data/1114448/000110465922127792/tm2227652d1_ex99-a.htm) |
| [5.1\*](tm264157d1_ex5-1.htm) | [Opinion of Advestra AG](tm264157d1_ex5-1.htm) |
| [23.1\*](tm264157d1_ex23-1.htm) | [Consent of Independent Auditors - KPMG AG](tm264157d1_ex23-1.htm) |
| [23.2\*](tm264157d1_ex5-1.htm) | [Consent of Advestra AG (contained in Exhibit 5.1)](tm264157d1_ex5-1.htm) |
| [24.1\*](#a_001) | [Powers of Attorney (included on signature pages).](#a_001) |
| [99.1](https://www.sec.gov/Archives/edgar/data/1114448/000110465926004590/tm262520d1_ex99.htm) | [Novartis Corporation Employee Share Purchase Plan for North American Employees (incorporated by reference to Exhibit 99.1 to the Post-Effective Amendment to the Registration Statement on Form S-8 (Registration No. 333-258081) as filed with the SEC on January 16, 2026).](https://www.sec.gov/Archives/edgar/data/1114448/000110465926004590/tm262520d1_ex99.htm) |
| [107\*](tm264157d1_ex-filingfees.htm) | [Filing Fee Table](tm264157d1_ex-filingfees.htm) |
| \* | Filed herewith |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Basel, Switzerland on February 4, 2026.

---

| | | |
|:---|:---|:---|
| **NOVARTIS AG** | **NOVARTIS AG** | **NOVARTIS AG** |
| By: | /s/ Harry Kirsch | /s/ Harry Kirsch |
|  | Name: | Harry Kirsch |
|  | Title: | Chief Financial Officer |
| By: | /s/ Karen L. Hale | /s/ Karen L. Hale |
|  | Name: | Karen L. Hale |
|  | Title: | Chief Legal & Compliance Officer |

---

**POWER OF ATTORNEY**

Each person whose signature appears below constitutes and appoints Harry Kirsch, Mukul Mehta, Karen L. Hale, Daniel Weiss, Laurent Sigismondi, and each of them (with full power to each of them to act alone), his or her true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement and to file the same with all exhibits thereto and other documents in connection therewith with the Securities and Exchange Commission granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, or their substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities indicated on this 4<sup>th</sup> day of February, 2026.

---

| | |
|:---|:---|
| **SIGNATURE** | **TITLE** |
| /s/ Vasant Narasimhan | Chief Executive Officer |
| Vasant Narasimhan, M.D. | (principal executive officer) |
| /s/ Harry Kirsch | Chief Financial Officer |
| Harry Kirsch | (principal financial and accounting officer) |
| /s/ Giovanni Caforio | Chair of the Board of Directors |
| Giovanni Caforio, M.D. |  |
| /s/ Simon Moroney | Vice-Chair of the Board of Directors |
| Simon Moroney, D.Phil. |  |
| /s/ Nancy C. Andrews | Director |
| Nancy C. Andrews, M.D., Ph.D. |  |
| /s/ Ton Buechner | Director |
| Ton Buechner |  |
| /s/ Patrice Bula | Director |
| Patrice Bula |  |
| /s/ Elizabeth Doherty | Director |
| Elizabeth Doherty |  |
| /s/ Bridgette Heller | Director |
| Bridgette Heller |  |
| /s/ Daniel Hochstrasser | Director |
| Daniel Hochstrasser |  |
| /s/ Frans van Houten | Director |
| Frans van Houten |  |
| /s/ Elizabeth McNally | Director |
| Elizabeth McNally, M.D., Ph.D. |  |
| /s/ Ana de Pro Gonzalo | Director |
| Ana de Pro Gonzalo |  |
| /s/ John D. Young | Director |
| John D. Young |  |

---

**AUTHORIZED REPRESENTATIVE**

Pursuant to the requirements of the Securities Act of 1933, the undersigned certifies that it is the duly authorized United States representative of the Registrant and has duly caused this Registration Statement on Form S-8 to be signed on its behalf by the undersigned, thereunto duly authorized, in East Hanover, New Jersey on February 4, 2026.

---

| |
|:---|
| /s/ Jaime A. Huertas |
| Jaime A. Huertas |

---

## Exhibit 5.1

**Exhibit 5.1**

![](tm264157d1_ex5-1img001.jpg)

<u>Advestra AG, Uraniastrasse 9, 8001 Zurich</u>

**Novartis AG**

Lichtstrasse 35

4056 Basel

Switzerland

Zurich, 04.02.2026

**Novartis AG: Legal opinion on the treasury shares of Novartis AG in connection with the Novartis Corporation Employee Share Purchase Plan for North American Employees**

Dear Sir or Madam,

We have been asked to issue a legal opinion letter as special Swiss legal counsel to Novartis AG, Lichtstrasse 35, 4056 Basel, Switzerland, Swiss business identification number CHE-103.867.266 (the "**Company**"), in connection with the registration statement of the Company on Form S-8 (the "**Registration Statement**") relating to the Plan (as defined below), being filed with the Securities and Exchange Commission (the "**SEC**") under the United States Securities Act of 1933, as amended (the "**Securities Act**") regarding the registration of 10,000,000 existing shares in Novartis AG with a nominal value of CHF 0.49 each (the "**Shares**") held in treasury or to be acquired by way of repurchases of existing Shares in the market by the Company or its subsidiaries (the "**Treasury Shares**"). You have instructed us that the Treasury Shares to be registered under the Registration Statement will consist of shares already validly in issue as of the date of this opinion that are held or will be acquired by the Company or its subsidiaries (the "**Instructions**").

All capitalized terms used in this legal opinion letter shall have the meaning as defined herein.

---

| | |
|:---|:---|
| **1** | **Documents** |

---

In arriving at the opinions expressed in section 3 below, we have exclusively reviewed and relied on the following documents, the sufficiency of which we confirm for purposes of this legal opinion letter (the documents referred to in this section 1 collectively the "**Documents**" and any individual document thereof a "**Document**"):

a) an excerpt from the Commercial Register of the
Canton of Basel-Stadt, Switzerland, in relation to the Company, certified by said register to be up-to-date as of 27 January 2026;

Advestra AG ▪ Uraniastrasse 9 ▪ 8001 Zürich ▪ T +41 58 510 92 00 ▪ info@advestra.ch ▪ www.advestra.ch ▪ CHE-385.508.136MWST

1/4

Novartis Legal Opinion ESPP 04.02.2026

b) a copy of the articles of association dated 7
March 2025 of the Company, certified by the Commercial Register of the Canton of Basel-Stadt, Switzerland, as of 27 January 2026
to correspond to the latest version filed with such Commercial Register (the "**Articles** "); and

c) electronic copies of the Novartis Corporation
Employee Share Purchase Plan as adopted by the board of directors of Novartis Corporation on 18 December 2025, effective as
of 1 January 2026 (the "**Plan** ").

---

| | |
|:---|:---|
| **2** | **Assumptions** |

---

In arriving at the opinions expressed in section 3 below, we have assumed (without verification) cumulatively that:

a) the information set out in the Documents and the Instructions are true, accurate, complete, up-to-date
and the Documents remain in full force and effect as of the date of this legal opinion letter; no changes have been made or will be made
that should have been or should be reflected in the Documents as of the date of this legal opinion letter;

b) the Documents submitted to us as (hard or electronic) copies are complete and conform to the original
document;

c) all signatures and seals on any Document are genuine;

d) where a name is indicated (in print or in handwriting) next to a signature appearing on any Document,
the signature has been affixed by the person whose name is indicated, and where no name is indicated (in print or in handwriting) next
to a signature appearing on any Document, the relevant Documents have been duly signed by authorized signatories; and

e) to the extent any authorizations, approvals, consents, licenses, exemptions or other requirements (collectively
the "**Authorizations**") had or will have to be obtained outside Switzerland in connection with the allocation of the Treasury
Shares, such Authorizations have been obtained or fulfilled or will be obtained or fulfilled in due time, and have remained or will remain
in full force and effect at all times.

---

| | |
|:---|:---|
| **3** | **Opinion** |

---

Based upon the foregoing, and subject to the qualifications and reliance limitations set out in section 4 and section 5 below, we are of the opinion that under the laws of Switzerland as currently in force and interpreted:

a) the Company is a stock corporation (*Aktiengesellschaft*) duly incorporated and validly existing
under the laws of Switzerland, with corporate power and authority to conduct business and to own property in accordance with its Articles;
and

b) the Treasury Shares are validly issued, fully paid in as to their nominal value and non-assessable (i.e.
no further contributions in respect thereof will be required to be made to the Company by the holders thereof, by reason only of their
being such holders).

---

| | |
|:---|:---|
| **4** | **Qualifications** |

---

The opinions given under section 3 above are each subject to the following cumulative qualifications:

2/4

Novartis Legal Opinion ESPP 04.02.2026

a) The opinions expressed herein are strictly limited to matters governed by the laws of Switzerland and
thus to opinions on certain Swiss law matters.

b) The opinions expressed herein are based on and subject to the laws of Switzerland as in force and generally
interpreted based on available legal sources as of the date of this legal opinion letter, and where this legal opinion letter refers to
 "Swiss law" or "the laws of Switzerland", it solely refers to Swiss law as in force and generally interpreted based
on available legal sources as of the date of this legal opinion letter. Such laws are subject to change.

c) We have made no investigation of the laws of any other jurisdiction than Switzerland as a basis for this
legal opinion letter and do not express or imply any opinion thereon.

d) The opinions expressed herein relate only to legal matters explicitly covered by this legal opinion letter
(taking into account cumulatively all assumptions and qualifications) and no opinion is given by implication or otherwise on any other
matter.

e) In issuing this legal opinion letter, we based ourselves solely on the Documents and Instructions and
were not instructed to, and did not, make any further independent search or due diligence inquiry; and we do not opine as to any facts
or circumstances occurring or coming to our attention subsequently to the date hereof.

f) The assumptions and qualifications apply to all opinions expressed in this legal opinion letter.

g) We express no opinion herein as to the accuracy or completeness of the information set out in the Registration
Statement or of the representations and warranties set out in the Registration Statement.

h) We express no opinion herein as to regulatory matters or as to any commercial, accounting, calculating,
auditing, tax, or other non-corporate law matter.

i) In this opinion, Swiss legal concepts are expressed in English terms and not in any official Swiss language;
these concepts may not be identical to the concepts described by the same English terms as they exist under the laws of other jurisdictions.

---

| | |
|:---|:---|
| **5** | **Reliance** |

---

We hereby consent to the filing of this legal opinion letter as an exhibit to the Registration Statement. In giving such consent, we do not admit or imply that we are in the category of persons whose consent is required under section 7 of the Securities Act or the rules and regulations of the SEC issued thereunder.

This legal opinion letter is furnished by us, as special Swiss legal counsel to the Company, in connection with the filing of the Registration Statement. Without our prior consent, it may not be used by, copied by, circulated by, quoted by, referred to, or disclosed to any party or for any purpose, except for such filing as provided in the immediately preceding paragraph or in connection with any reliance by investors on such opinion pursuant to US securities laws.

Any reliance on this opinion is limited to the legal situation existing at the date of this legal opinion letter, and we shall be under no obligation to advise you on or to amend this legal opinion letter to reflect any change in circumstances or applicable laws or regulations for any period after the date of issuance of this legal opinion letter.

3/4

Novartis Legal Opinion ESPP 04.02.2026

This legal opinion letter shall be governed by and construed in accordance with the laws of Switzerland. This legal opinion letter may only be relied upon on the express condition that any issues of interpretation arising hereunder will be governed by the laws of Switzerland and this legal opinion letter shall be subject to the exclusive jurisdiction of the courts of the city of Zurich (Zurich 1), Switzerland.

---

| |
|:---|
| Yours faithfully, |
| /s/ A. Weber |
| Advestra AG |

---

4/4

## Exhibit 23.1

**Exhibit 23.1**

**Consent of Independent Registered Public Accounting Firm**

We consent to the use of our report dated February 3, 2026, with respect to the consolidated financial statements of Novartis AG, and the effectiveness of internal control over financial reporting, incorporated herein by reference.

/s/ KPMG AG

Basel, Switzerland

February 4, 2026

## Ex-Filing

?xml version='1.0' encoding='ASCII'? EX-FILING FEES

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Calculation of Filing Fee Tables**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **S-8**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **NOVARTIS AG**  |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Type**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Class Title**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee Calculation Rule**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount Registered**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Proposed Maximum Offering Price Per Unit**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Maximum Aggregate Offering Price**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee Rate**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount of Registration Fee**  |
| 1 | Equity | Ordinary Shares | 457(a) | 10000000 | $148.12 | $1481200000.00 | 0.0001381 | $204553.72 |
| Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: |  | $1481200000.00  |  | $204553.72  |
| Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  |  |  |  | $0.00  |
| Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  |  |  |  | $204553.72  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Offering Note** <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <sup>1</sup> Security Class Title and Amount of Registration Fee (1): The ordinary shares of Novartis AG, nominal value CHF 0.49 per share ("Novartis Shares") will be represented by American Depositary Shares of Novartis AG ("Novartis ADSs"), each of which currently represents one Novartis Share. A separate registration statement on Form F-6 (333-198623) has been filed with the Securities and Exchange Commission (the "Commission") on September 8, 2014 for the registration of Novartis ADSs evidenced by American Depositary Receipts issuable upon deposit of the Novartis Shares. Amount Registered (2): Pursuant to Rule 416 of the Securities Act of 1933, as amended (the "Securities Act"), the amount being registered also includes an indeterminate number of Novartis Shares, which may be issuable under the Novartis Corporation Employee Share Purchase Plan for North American Employees (the "Plan") as a result of variations in share capital, share splits, share dividends or similar transactions. Proposed Maximum Offering Price Per Unit and Maximum Aggregate Offering Price (3): Estimated pursuant to Rule 457(c) under the Securities Act solely for the purpose of computing the registration fee, based upon the average of the high and low price for the Novartis ADSs on the New York Stock Exchange on January 28, 2026.

---

| | |
|:---|:---|
| | |
| **Rule 457(p)** | **Rule 457(p)** |
| Fee Offset Claims | N/A |
| Fee Offset Sources | N/A |

---