NOVARTIS AG

Ticker: NVS CUSIP: 66987V109 Class: SPONSORED ADR

Telemark Asset Management, LLC's Holding History (CIK: 0001420816)

Note: Option positions (PUT/CALL) are excluded.

Q2 2015
Shares 140,000 Value ($000) $13,768 Avg Close — Range —
Q1 2015
Shares 170,000 Value ($000) $16,764 Avg Close — Range —
Q4 2014
Shares 170,000 Value ($000) $15,752 Avg Close — Range —
Q3 2014
Shares 180,000 Value ($000) $16,943 Avg Close — Range —
Q2 2014
Shares 100,000 Value ($000) $9,053 Avg Close — Range —