NOVARTIS AG

Ticker: NVS CUSIP: 66987V109 Class: SPONSORED ADR

EULAV Asset Management's Holding History (CIK: 0001540826)

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

Q1 2014

Shares 42,600 Value ($000) $3,622 Avg Close — Range —

Q4 2013

Shares 42,600 Value ($000) $3,424 Avg Close — Range —

Q3 2013

Shares 42,600 Value ($000) $3,268 Avg Close — Range —

Q2 2013

Shares 43,000 Value ($000) $3,041 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2014	42,600	$3,622	—	—
Q4 2013	42,600	$3,424	—	—
Q3 2013	42,600	$3,268	—	—
Q2 2013	43,000	$3,041	—	—