Transcript of the Analysts / Institutional Investors Call held on September 11, 2026.

Novartis India Limited September 15, 2026 The Secretary, BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001 Scrip Code: 500672 Subject: Intimation of Transcript of the Analyst(s)/Institutional Investor(s) Call held on Friday, September 11, 2026 Dear Sir/Madam, This is further to our intimation dated September 08, 2026, regarding the Analysts’/Institutional Investors’ Call of Novartis India Limited (the “Company”), and our subsequent intimation dated September 11, 2026, enclosing the investor presentation submitted pursuant to Regulation 30 read with Part A of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “SEBI Listing Regulations”). We wish to inform you that the aforesaid Analysts’/Institutional Investors’ Call was held on Friday, September 11, 2026, at 4:00 P.M. (IST) through both virtual and physical modes. Further, the details of the audio recording of the said call was submitted to the Stock Exchange on September 12, 2026. In compliance with Regulation 30 read with Part A of Schedule III and Regulation 46(2) of the SEBI Listing Regulations, please find enclosed the transcript of the Call. The transcript has also been uploaded on the Company’s website and is available at the following link: https://nilpharma.co.in/investor-analyst-calls/ The above disclosure is being submitted for your information and records. You are requested to take note of the same. Thank you. For Novartis India Limited Chandni Maru Company Secretary and Compliance Officer A60291 Encl: as above Registered Office: Inspire BKC, 7th Floor, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra, India. CIN: L24200MH1947PLC006104 | Tel: +91 22 50243000 Email: investor.relations@nilpharma.co.in | Website: www.nilpharma.co.in “Novartis India Limited Investor Meet” September 11, 2026 MANAGEMENT: DR. VIKAS GUPTA – CHIEF EXECUTIVE OFFICER AND MANAGING DIRECTOR – NOVARTIS INDIA LIMITED MR. KSHITIJ SHETH – NON-EXECUTIVE NON- INDEPENDENT ADDITIONAL DIRECTOR – NOVARTIS INDIA LIMITED DR. JAGRITI GUPTA – NON-EXECUTIVE NON- INDEPENDENT ADDITIONAL DIRECTOR – NOVARTIS INDIA LIMITED MR. BHAGWAT DEORA – CHIEF FINANCIAL OFFICER – NOVARTIS INDIA LIMITED MR. JASON D'SOUZA – PRESIDENT; M&A, BD AND INVESTOR RELATIONS – NOVARTIS INDIA LIMITED Moderator: Thank you, everyone, for joining us today. So let me first start by welcoming you to Novartis India Limited, NIL. This is our first Investor Meet, and we are glad to have an audience that has come across to meet and speak to us. I would first like to start -- and I will also go into an in-depth, detail introduction, but first let me just mention a few people who are here. First, we have is Vikas Gupta, who is our CEO and MD. We have Bhagwat Deora, who is our CFO. We have the Members of the Board. We have Kshitij Page 1 of 20 Novartis India Limited September 11, 2026 and Jagruti. And I won't -- there's also a mention of them in the deck, so I won't take too much time talking about them. So, without any delay, let me start the proceedings. First, let me just start by reading out a disclaimer, because this is going across via audio also to people who are logging in online. So, the presentation and the call that has been prepared by the management of Novartis India Limited solely for the information of the recipients. No representation or warranty, expressed or implied, is made as to, and no reliance should be placed on the fairness, accuracy, and completeness or correctness of the information or opinions contained in this presentation. Such information and opinions, in all events, not current after the date of this presentation. Certain statements made in this presentation may not be based on historical information or facts and may be forward-looking statements based on the currently held beliefs and assumptions of the management of Novartis India Limited, NIL, which are expressed in good faith and, in their opinions, reasonable, including those relating to the company's general business plans and strategy, its future financial conditions, and growth prospects, and future developments in the industry and its competitive and regulatory environment. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, future financial conditions, performance, or achievements of the company or industry results to differ materially from the results, financial conditions, performance, or achievements expressed or implied by such forward-looking statements, including future changes or developments in the company's business, its competitive environment, and political, economic, legal, and social conditions. This presentation is for general information purposes only, without regards to any specific objectives, financial situations, or information needs of any particular person. This presentation does not constitute an offer or invitation to purchase or subscribe for any securities. With this, let me just start Novartis India Limited's Investor Meet. First, let me just take the privilege of introducing Dr. Vikas Gupta, our CEO and MD. A pharmaceutical industry leader, spent over two decades across commercial strategy, business transformation, and brand building. Vikas is known to everyone in the pharmaceutical industry. His last role was as CEO of Alkem Industries, where he has created tremendous value there. And prior to that, he had important senior leadership roles at Cipla, Glenmark, and Ranbaxy Laboratories. Education: an MBBS from University of Delhi with an INSEAD leadership program also to his education qualifications. Let me just invite Dr. Vikas Gupta on stage, and he will take us through the presentation. Thank you. Over to you, Vikas. Vikas Gupta: A very good evening to everyone, and thank you so much for making it for this event. I think it'll be better if I -- my height. So, I welcome you all to this first investor presentation after the takeover for this company, which is called Novartis India Limited. Page 2 of 20 Novartis India Limited September 11, 2026 I think, I will just start with a thought of what is it that we intend to do over here. So we want to build a leading platform in the pharmaceutical business with this company. What this company is, I'll give you a brief glimpse of that, where do we stand today, and what do we intend to do in the near-term, is how I would structure the rest of half an hour or so, in which I would try to give a glimpse of what exactly we are going to do about it. Company overview, just to take you in brief, what is this entity all about? Novartis India Limited has been a household name for many decades. It's not a new company. It is a company which has got almost 79-plus years of existence. This is a company which has been listed for almost 27 years. It's not a new name. The brands that it has been a household name for decades. And those brands have got so much potential. I think all of us sitting in this room, a large part of it would have used in our lives these brands at some or the other point in time. That is what this company has been in a nutshell. But this is how the most recent performance of this company has been all about. If you look at the last four years' trend, the company has been pretty much flattish in terms of its revenue or whether it is PAT. So, a company that houses such well-known brands, massive brand equity with the healthcare practitioners, but for certain reasons, the company was not moving anywhere. Has been pretty much flat. And the good thing is it had a good cash on its balance sheet which could be put to much better use and used for the growth. Decades of heritage to its backing, a very strong prescriber equity along with it, and an untapped potential. And that's the opportunity that I believe lies ahead of us. And this is what is the thesis that if you look at the brands that are there -- and I [Showing first 8,000 characters — download PDF for full document]