Spin Off | NOVARTIS AG-ADR | 4th October 2023

On August 25, 2022 NOVARTIS AG announced its intention to separate Sandoz business into a new publicly traded standalone company, by way of a 100% spin-off. The standalone Sandoz would be headquartered in Switzerland and listed on the SIX Swiss Exchange, with an American Depositary Receipt (ADR) program in the US. NOVARTIS AG shareholders will receive 1 SANDOZ GROUP AG Share for every 5 NOVARTIS AG Shares. NOVARTIS AG shareholders approved the spinoff at a meeting on September 15, 2023. The shares of SANDOZ GROUP AG are expected to be listed and traded from October 4, 2023 on the SIX Swiss Exchange with the symbol SDZ. SANDOZ GROUP AG ADRs are envisaged to be traded on the OTCQX. On October 5, 2023 (open) Solactive AG will remove SANDOZ GROUP AG from the indices as OTC will trade at an ineligible exchange. The weight of SANDOZ GROUP AG based on its last close price will be distributed pro rata to remaining Index constituents.

• The spin-off company SANDOZ GROUP AG -ADR will be added to the Index according to the transaction terms.
• Effective Date (open): 04/10/2023

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