On a corporate action affecting depositary receipt of JPMorgan Chase Bank, N.A. representing ordinary share of Novartis AG (NVS)

On August 18, 2023 Novartis AG provided details about its separation of the Sandoz business to create an independent company by way of a 100% Spin-off that will become effective on or around October 4, 2023. Novartis ADR holders will receive 1 Sandoz ADR for every 5 Novartis ADRs. For more details, please, refer to the company’s website.

ITS Ltd. will publish separate notices on the procedures undertaken by ITS Ltd. to process this corporate action outlining how trading in these qualified investments will be carried out.