#1Teva Pharmaceutical Industries Ltd. First Quarter 2023 Results May 10, 2023 teva#2Cautionary Note Regarding Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management's current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause our future results, performance or achievements to differ significantly from that expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks relating to: • • . our ability to successfully compete in the marketplace, including: that we are substantially dependent on our generic products; concentration of our customer base and commercial alliances among our customers; delays in launches of new generic products; the increase in the number of competitors targeting generic opportunities and seeking U.S. market exclusivity for generic versions of significant products; our ability to develop and commercialize biopharmaceutical products; competition for our innovative medicines, including AUSTEDOⓇ, AJOVYⓇ and COPAXONE®; our ability to achieve expected results from investments in our product pipeline; our ability to develop and commercialize additional pharmaceutical products; and the effectiveness of our patents and other measures to protect our intellectual property rights; our substantial indebtedness, which may limit our ability to incur additional indebtedness, engage in additional transactions or make new investments, may result in a further downgrade of our credit ratings; and our inability to raise debt or borrow funds in amounts or on terms that are favorable to us; our business and operations in general, including: the impact of global economic conditions and other macroeconomic developments and the governmental and societal responses thereto; the widespread outbreak of an illness or any other communicable disease, or any other public health crisis; effectiveness of our optimization efforts; our ability to attract, hire, integrate and retain highly skilled personnel; manufacturing or quality control problems; interruptions in our supply chain; disruptions of information technology systems; breaches of our data security; variations in intellectual property laws; challenges associated with conducting business globally, including political or economic instability, major hostilities or terrorism; costs and delays resulting from the extensive pharmaceutical regulation to which we are subject; the effects of reforms in healthcare regulation and reductions in pharmaceutical pricing, reimbursement and coverage; significant sales to a limited number of customers; our ability to successfully bid for suitable acquisition targets or licensing opportunities, or to consummate and integrate acquisitions; and our prospects and opportunities for growth if we sell assets; compliance, regulatory and litigation matters, including: failure to comply with complex legal and regulatory environments; increased legal and regulatory action in connection with public concern over the abuse of opioid medications and any delay in our ability to obtain sufficient participation of plaintiffs for the nationwide settlement of our opioid-related litigation in the United States; scrutiny from competition and pricing authorities around the world, including our ability to successfully defend against the U.S. Department of Justice ("DOJ") criminal charges of Sherman Act violations; potential liability for Intellectual property right infringement; product liability claims; failure to comply with complex Medicare and Medicaid reporting and payment obligations; compliance with anti-corruption, sanctions and trade control laws; environmental risks and the impact of Environmental, Social and Governance ("ESG") issues; other financial and economic risks, including: our exposure to currency fluctuations and restrictions as well as credit risks; potential impairments of our long-lived assets; the impact of geopolitical conflicts including the ongoing conflict between Russia and Ukraine; potential significant increases in tax liabilities; and the effect on our overall effective tax rate of the termination or expiration of governmental programs or tax benefits, or of a change in our business; and other factors discussed in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 and our Annual Report on Form 10-K for the year ended December 31, 2023 ("Annual Report"), including in the sections captioned "Risk Factors" and "Forward-looking statements." Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward- looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements. Non-GAAP Financial Measures This presentation includes certain non-GAAP financial measures as defined by SEC rules. Please see our press release reporting our financial results for the first quarter of 2023, as well as our Quarterly Report on Form 10-Q for the quarter ended March 31, 2023, for a reconciliation of the non-GAAP financial measures to their nearest GAAP equivalents. Management believes that such non-GAAP financial measures provide useful information to investors to facilitate their understanding of our business because the non-GAAP financial measures are used by Teva's management and board of directors, in conjunction with other performance metrics, to evaluate the operational performance of the company, to compare against the company's work plans and budgets, and ultimately to evaluate the performance of management; the company's annual budgets are prepared on a non-GAAP basis; and senior management's annual compensation is derived, in part, using these non-GAAP measures. Investors should consider the non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP. We are not providing forward looking guidance for GAAP reported financial measures or a quantitative reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP measure because we are unable to predict with reasonable certainty the ultimate outcome of certain significant items including, but not limited to, the amortization of purchased intangible assets, legal settlements and loss contingencies, impairment of long-lived assets and goodwill impairment, without unreasonable effort. These items are uncertain, depend on various factors, and could be material to our results computed in accordance with GAAP. Some amounts in this presentation may not add up due to rounding. All percentages have been calculated using unrounded amounts. |2| teva#3|3| Richard Francis President and Chief Executive Officer teva teva#4Impression After 120 Days as CEO M Strong commercial portfolio AUSTEDO®, AJOVY®, UZEDYTM and upcoming biosimilars Promising innovative pipeline Strong innovative pipeline with proven targets / MoAs Solid core businesses Strong generation of cash to pay down debt Taking proactive measures to address short-term challenges around COGS management Laz Strong historical capabilities "Can do" culture with an innovative mindset Reaffirming 2023 Non-GAAP Outlook teva |4|#5|5| INVESTOR DAY Introducing our new strategic framework and key priorities focusing on growth and innovation Thursday, May 18 | 12:00 pm ET Details on Teva's IR website or via [email protected] teva#6Q1 Revenues Performance % In local currency, compared to Q1 2022 |6| +12% Successful new product launches Europe Generics +9% Higher revenues across markets International Markets Generics Revenues of $3.7b +4% AUSTEDO AJOVY $170m +10% Significant growth in prescriptions $95m +35% teva#7Strong Revenues Growth in Local Currency $ millions |7| Total revenue growth of 4% in local currency +2% growth +9% growth in local currency +8% growth in local currency 1,737 1,766 Q1-22 Q1-23 North America 1.184 1,156 Q1-22 Q1-23 Europe Q1-22 as reported Q1-23 as reported Local currency effect 492 492 Q1-23 Q1-22 International Markets teva#8| 8 | AUSTEDO Continues to Reach More Patients Continued growth of AUSTEDO prescriptions AUSTEDO quarterly TRX 60,000 50,000 40,000 30,000 20,000 10,000 0 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Source: IQVIA US NPA Audit Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Revenue and TRX data is compared to Q1 2022 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 57,123 AustedoⓇ (deutetrabenazine) 6 mg, 9 mg, and 12 mg tablets U.S. Revenues $170 million Revenues Growth +10% TRX Growth +28% teva#9AUSTEDO XR Approved in February 2023 ONCE-DAILY Austedo XR (deutetrabenazine) extended-release tablets Demonstrated efficacy* ✰ Three once daily dosing options available Patient sample titration pack available Q6 Q12 Q24 Teva's shared solutions program provides ongoing patient support Austedo R extended Once Daily Patient Titration Kit teva Now available in the U.S. for the treatment of TD and chorea for HD * The most common adverse reactions for AUSTEDO (>8% and greater than placebo) in a controlled clinical study in patients with Huntington's disease were somnolence, diarrhea, dry | 9| mouth, and fatigue. The most common adverse reactions for AUSTEDO (4% and greater than placebo) in controlled clinical studies in patients with tardive dyskinesia were nasopharyngitis and insomnia. teva#10AJOVY - Global Growth Quarterly Global Net Sales 2019 | 10 | 2020 2021 ■ Europe ■North America $95m Q1'23 UP 32% $72m Q1'22 2022 Q1'23 ■International Markets AJOVY (fremanezumab-vfrm) injection 225 mg/1.5 mL Net global sales of $95 million in Q1 2023: North America $49 million, +36% 24% U.S. market share Europe $36 million, +17% 30% market share International Markets $10 million, up 74% teva#11UZEDY™ (risperidone) Now Approved 2 RAPID ABSORPTION Achieves therapeutic levels in plasma within 6 to 24 hours of administration 1,2 STREAMLINED INITIATION No loading dose or oral supplementation is required² FLEXIBLE 1- AND 2-MONTH DOSING INTERVALS Two dosing intervals and 8 dosing options² SUBCUTANEOUS INJECTION Administered as a single-dose, prefilled syringe with a short, 5/8-inch needle² DEMONSTRATED EFFICACY and KNOWN SAFETY PROFILE Significant reductions in the risk of relapse vs placebo² Safety profile expected to be similar to that of corresponding oral risperidone doses* UZEDY. (risperidone) extended-release injectable suspension ~$4B LAI 2022 Market size 1 month dosing UZEDY. (risperidone) FOR SUBCUTANEOUS USE ONLY 2 month dosing UZEDY (risperidone) FOR SUBCUTANEOUS USE ONLY For administration by a leathcare professional Rx Only NDC 51750-900-10 One side-dose predige 250mg/0.7mL at every two For administration by a healthcare professional NDC 51759-630-10 Rx Only One single-dose prefed syringe 125mg/0.35 mL astered every are th Stor in refrigerator at the original controlectron to 730 minutes prior to a ints packaging at room temperature at 20°C to 25°C he administration 1625 1997 maybe od kupa el storage with 50 day ed to friga 0 de uniese may Be the cartoni edad OPEN HERE teva ct from ligh teva | 11 | References: 1. Data on file. Parsippany, NJ: Teva Neuroscience, Inc. 2. UZEDYTM (risperidone) extended-release injectable suspension Current Prescribing Information. Parsippany, NJ: Teva Neuroscience, Inc. * The most common adverse reactions with risperidone (≥5% and greater than placebo) were parkinsonism, akathisia, dystonia, tremor, sedation, dizziness, anxiety, blurred vision, nausea, vomiting, upper abdominal pain, stomach discomfort, dyspepsia, diarrhea, salivary hypersecretion, constipation, dry mouth, increased appetite, increased weight, fatigue, rash, nasal congestion, upper respiratory tract infection, nasopharyngitis, and pharyngolaryngeal pain. The most common injection site reactions with UZEDY (25% and greater than placebo) were pruritus and nodule. teva#12Generics: Strong Growth in Europe and International Markets $ millions |12| +12% growth in local currency 876 932 Q1-23 Q1-22 Europe +9% growth in local currency 400 388 Q1-22 Q1-23 International Markets Q1-22 as reported Q1-23 as reported Local currency effect teva#13Teva Innovative Medicine Pipeline By development stage - as of May 1, 2023 Preclinical Phase 1 Under Regulatory Phase 2 Phase 3 Pre-Submission Review TEV-56278 Oncology TEV-56279 Neuroscience TEV-56288 Neuroscience TEV-48438 Schizophrenia TEV-53408 Gastrointestinal TEV-562861 Multiple System Atrophy TEV-56192 Neuroscience Anti-TL1-A (TEV-48574) Ulcerative Colitis Crohn's Disease Olanzapine LAI Schizophrenia ICS-SABA (TEV-56248) Asthma DigihalerⓇ (beclomethasone dipropionate HFA) (U.S.) Asthma DigihalerⓇ (budesonide and formoterol fumarate dihydrate)² (EU) Asthma & COPD TEV-562871 Parkinson's Disease TEV-46000 Neuroscience | 13 | TECHNOLOGY PLATFORMS Novel Biologic Small Digital Molecule Respiratory Pipeline is current as of May 1, 2023 1) In collaboration with MODAG. 2) Digital component approved in UK by MHRA. Teva innovative medicine pipeline by development stage, excluding country/regional launches of products submitted or under review in new markets. teva#14Teva Biosimilar Franchise By development stage - as of May 1, 2023 Preclinical Phase 1 Phase 3 Pre-Submission TEV-56285 TEV-54142 TEV-56191 TEV-56261 TEV-56289 TEV-56284* Biosimilar to ProliaⓇ & Xgeva (denosumab) Biosimilar to XolairⓇ (omalizumab) Biosimilar to EyleaⓇ (aflibercept) * Biosimilar to SimponiⓇ (golimumab)* 1. TruximaⓇ and HerzumaⓇ are in collaboration with Celltrion in the U.S. and Canada. |14| Under Regulatory Review Biosimilar to HumiraⓇ (adalimumab)* Biosimilar to StelaraⓇ (ustekinumab)* Commercial Biosimilar Products 1, 2 Herzuma® (trastuzumab-pkrb) For Injection 420 mg/vial • 150 mg/vial Truxima® (rituximab-abbs) Injection for intravenous use 500 mg/50 ml 100 mg/10 ml Pipeline is current as of May 1, 2023 In collaboration with Alvotech for the U.S. market. Teva biosimilar pipeline by development stage, excluding country/regional launches of products submitted or under review in new markets. 2. RanivisioⓇ is in collaboration with BioEq in the UK (marketed as ONGAVIAⓇ), in the EU (to be marketed as RANIVISIOⓇ) and was submitted in Canada Ranivisio 10 mg/ml solution for injection (ranibizumab) teva#15Promising Late-Stage Assets Poised to Support Growth 40 | 15 | Olanzapine LAI ('749) Potential to be first long-acting olanzapine with a favorable safety profile ICS/SABA ('248) De-risked¹ ICS/SABA fixed-dose addressing market needs Anti-TL1-A (574) Potential to be best-in-class for proven TL1A mechanism in UC/CD LAI: Long-Acting Injectable, UC: Ulcerative Colitis, CD: Crohn's Disease, ICS: Inhaled Corticosteroids, SABA: Short-Acting Beta Agonist 1. De-risked referring to an increased probability of success in clinical trials teva#16Our 2022 ESG Progress Report Highlights nnn Progress toward ambitious targets √24% reduction in total scope 1 and 2 greenhouse gas emissions (vs. 2019, ahead of schedule to meet 2025 target: 25%)* 5 access to medicines programs (2025 target: 8) 21 new regulatory submissions in low- and middle-income countries (2025 target: 75)* -100% of active employees trained on compliance policies (achieved 2022 target: 99%+) h) Economic impact $44 billion in savings from Teva's generic medicines across 21 countries $20 billion contributed to GDP across 24 countries |16| Driving Long-Term Sustainability and Value Creation * Tied to Teva's sustainable financial instruments (e.g., sustainability-linked bonds and sustainability linked revolving credit facility) teva#17Eli Kalif Executive Vice President, Chief Financial Officer |17| teva teva#18Q1 2023 Summary $ millions, except EPS Q1 2023 Q1 2022 Q1 2023 Q1 2022 GAAP Non-GAAP Revenues* 3,661 3,661 3,661 3,661 Operating income (loss) 2 (713) 785 1,013 Net income (loss) attributable to Teva (205) (955) 457 609 (0.18) (0.86) 0.40 0.55 Earnings (loss) per share ($)** 1,115 million shares 1,107 million shares 1,128 million shares 1,112 million shares | 18| ** Revenues are presented on a GAAP basis Earnings per share based on a fully diluted basis teva#19Non-GAAP Adjustments $ millions Q1 2023 Amortization 165 Impairment of long-lived assets 188 Legal settlements 233 Equity Compensation Plans 32 Accelerated depreciation 25 Restructuring 56 Financial Expenses 23 Contingent Consideration 20 Other 63 Non-controlling interests (40) Corresponding tax effect (104) Total adjustments 661 | 19 | Comments mainly related to estimated provisions recorded in connection with certain litigation cases in the U.S. teva#20Q1 2023 Non-GAAP Summary $ billions, except EPS Q1 2023 Q1 2022 Change Revenues* 3.7 3.7 0% 1.8 2.0 (10%) Gross profit 49.1% 54.2% (5.2%) 0.8 1.0 (23%) Operating income 21.4% 27.7% (6.2%) EBITDA 0.9 1.1 (21%) Net income attributable to Teva 0.5 0.6 (25%) 0.40 0.55 (0.15) EPS ($) 1,128 million shares 1,112 million shares Free cash flow** 0.04 0.12 (65%) * Revenues are presented on a GAAP basis ** | 20 | Free cash flow includes cash flow from operating activities, beneficial interest collected in exchange for securitized accounts receivables, proceeds from divestitures of businesses and other assets, net of cash used for capital investment. teva#21Spend Base $ millions COGS OPEX * Other Income |21| 2,648 +229 (+9%) +324 in local currency (+12%) 2,876 1,675 (63%) 1,865 (65%) 1,025 (39%) * -52 (-2%) Q1 2022 1,013 (35%) --2 (0%) * Q1 2023 3,661 Revenues 3,661 GP% 54.2% 49.1% OP% 27.7% 21.4% * OPEX include R&D, S&M and G&A expenses teva#22Site Consolidation Number of manufacturing sites 80 28 52 3 49 |22| December 2017 May 2023 Continued footprint optimization December 2023 additional 4 manufacturing sites announced to be divested/closed beyond 2023 teva#23Free Cash Flow by Quarters $ millions | 23 | 59 625 795 716 117 301 685 1,140 41 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Free cash flow includes cash flow from operating activities, beneficial interest collected in exchange for securitized accounts receivables, proceeds from divestitures of businesses and other assets, net of cash used for capital investment. teva#24Ongoing Debt Reduction $ billions 20.7 Net Debt 20.0 19.0 18.4 18.5 EBITDA MAT LL 4.8 4.8 4.7 4.6 4.4 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Net Debt/ EBITDA MAT* 4.29 4.16 4.02 4.00 4.25 Leverage 69% 69% 69% 71% 71% |24| *Teva's Net Debt/EBITDA MAT covenant ratio limits are 4.25x for Q1 2023 - Q3 2023 and 4.00x for Q4 2023 teva#25Net Debt Development $ billions $35.0 $34.0 $33.0 $31.0 $29.0 $27.0 $25.0 $23.0 $21.0 $19.0 $18.5 $17.0 Q3'17 Q4'17 Q1'18 Q2'18 Q3'18 Q4'18 Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 | 25 | teva#26Debt Maturity Profile 3.4 3.5 As of December 31,2022 2.9 2.1 2.0 1.9 1.6 1.0 3.4 As of March 31,2023 3.0 2.5 2.1 2.0 1.8 1.6 1.6 1.0 0.8 1.0 0.8 2.0 2023 2024 2025 2026 2027 2028 2029 2030 2031 2036 2046 2023 2024 2025 2026 2027 2028 2029 2030 2031 2036 2046 USD EUR CHF New-USD New-EUR In March 2023, Teva repaid $646 million of its USD 1.25% senior notes at maturity 26 teva#272023 Non-GAAP Outlook | 27 | ** $ billions, except EPS or as noted 2023 Outlook Revenues* COPAXONE ($m)* AUSTEDO ($m)* $14.8 - $15.4 ~500 2022 Actual $14.9 691 ~1,200 971 ~400 377 4.0-4.4 4.1 4.5-4.9 4.6 ~1,000 904 AJOVY ($m)* Operating Income Adjusted EBITDA Finance Expenses ($m) Tax Rate 14% -17% Diluted EPS ($) Free Cash Flow* CAPEX* ** Foreign Exchange 11.7% 2.25 -2.55 1,123 million shares 2.52 1,115 million shares 1.7-2.1 2.2 0.5 0.5 Volatile swings in FX can negatively impact revenue and income Revenues and CAPEX are presented on a GAAP basis Free Cash Flow includes cash flow generated from operating activities net of capital expenditures and deferred purchase price cash component collected for securitized trade receivables teva#28In Summary > Reaffirming our 2023 non-GAAP guidance | 28| > AUSTEDO and AJOVY continue to drive growth AUSTEDO XR now available in the U.S. > UZEDY will commercially launch in the coming days in the U.S. > Strong performance in Europe and International Markets > Significant focus on cost discipline and working capital management > Looking forward to introducing our new strategic framework and key priorities next week teva#29Q&A teva#30Additional Information teva#31Quarterly GAAP Income Statement $ millions, except EPS Revenues Q1 2023 Q1 2023 Margins Q1 2022 Q1 2022 Margins Change 3,661 3,661 0% COGS Gross profit R&D 2,079 56.8% 1,921 52.5% 8% 1,582 1,740 (9%) 43.2% 47.5% (4.3%) 234 6.4% 225 6.2% 4% S&M 546 14.9% 584 15.9% (6%) G&A 296 8.1% 296 8.1% (0%) Legal settlements and loss contingencies 233 6.4% 1,124 30.7% (79%) Impairments, restructuring and others 274 7.5% 276 7.5% (1%) Other income (2) (0.1%) (52) (1.4%) (96%) 2 (713) (100%) Operating income (loss) 0.1% (19.5%) 19.6% Financial expenses, net 260 7.1% 258 7.0% 1% Tax (19) 7.5%* 2 (0.2%)* N/A Minority and share in profit (34) (0.9%) (18) (0.5%) 89% Net income (loss) attributable to Teva (205) (5.6%) (955) (26.1%) (79%) # of shares (diluted, millions) 1,115 1,107 Earnings per share ($) (0.18) (0.86) | 31 | * Represents tax rate teva#32Q1 2023 Foreign Exchange Impact $ millions Revenues Q1 2023 Q1 2022 Diff FX Effect Diff net FX 3,661 3,661 0 (128) 128 Operating income (loss) 2 (713) 715 (32) 747 GAAP Operating income Non-GAAP | 32 | 785 1,013 (228) (33) (196) teva#33Net Revenue and Non-GAAP Profitability $ millions | 33 | 4,100 3,982 3,910 3,887 3,786 3,661 3,595 3,884 3,661 53.8% 53.3% 53.6% 56.1% 54.2% 54.4% 53.0% 54.2% 49.1% 30.4% 27.1% 26.4% 26.8% 27.7% 26.9% 27.2% 29.1% 21.4% Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Net Revenues Non-GAAP Gross Profit Margin Non-GAAP Operating Margin teva#34Revenues by Activity and Geographical Area | 34 | $ millions Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 North America Segment 1,737 1,904 1,809 2,002 1,766 Generic products 899 1,026 806 818 824 AJOVYⓇ 36 49 57 75 49 AUSTEDOⓇ 154 204 260 344 170 BENDEKAⓇ/TREANDAⓇ 82 83 77 75 63 COPAXONEⓇ 86 94 105 101 76 Anda 342 308 371 450 424 Other 139 139 133 138 160 Europe Segment 1,156 1,171 1,069 1,129 1,184 Generic products 876 873 803 914 932 AJOVYⓇ 30 29 30 35 36 COPAXONE® 72 72 63 61 59 Respiratory 71 65 62 75 68 Other 107 131 111 43 89 International Markets Segment 492 454 475 482 492 Generic products 388 394 393 411 400 AJOVYⓇ 6 10 6 13 10 COPAXONE® 10 9 9 7 12 Other Other Total Teva 88 40 67 51 70 275 257 241 272 219 3,661 3,786 3,595 3,884 3,661 teva#35Non-GAAP Profits and EPS $ millions, EPS in $ | 35 | 1,077 1,034 1,042 1,248 1,019 1,013 977 1,130 785 854 791 754 699 651 651 658 609 0.77 0.68 0.71 457 0.63 0.59 0.59 0.55 0.59 0.40 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Non-GAAP Net Income Non-GAAP Operating Income Non-GAAP EPS teva#36Q1 2023 Non-GAAP Operating Income $ millions | 36 | 1,013 -$228m (-23%) -$196m Local currency (-19%) (70) (36). (65) (58) 785 Q1-22 North America Europe International Markets Other Activities Q1-23 teva#37Quarterly Non-GAAP Operating Income $ millions 1,013 1,019 977 51 (5%) 55 (5%) 95 (9%) 29 (3%) 112 (11%) 179 (18%) 381 (38%) 389 (38%) 360 (37%) 1,130 37 (3%) 93 (8%) 366 (32%) 481 402 (40%) (47%) 477 (49%) 633 (56%) Q1-22 Q2-22 Q3-22 Q4-22 North America Europe International Markets Other Activities Revenues: 3,661 3,786 3,595 3,884 | 37 | Numbers in brackets present a percentage of the total figure 785 114 (15%) 345 (44%) 332 (42%) --6 (-1%) Q1-23 3,661 teva#38Quarterly Adjusted EBITDA* $ millions 1,135 1,240 1,134 1,089 899 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 | 38 | Please see our press release reporting our financial results for the first quarter of 2023 for a reconciliation of Adjusted EBITDA to its nearest GAAP equivalent teva#39Q1 2023 Adjusted EBITDA to Free Cash Flow $ millions 899 Non-GAAP EBITDA | 39 | (279) (83) (186) (858) (95%) (245) 78 (328) (145) 323 Interest Tax payments payments, net AR Inventory AP & Other Securitization Operating cash flow Q1 securitization cash flow net impact -$5m 2 (139) 41 Securitization reclass Asset sales, net; Capex gross Free cash flow teva#40Consolidated Balance Sheet $ billions Cash and Cash Equivalents AR Trade Pre-paid Expenses and Other Current Assets Inventory Fixed Assets Intangible Assets Goodwill Other Long Term Assets Total Assets AP Trade SR&A AP Other Mar 31, 2023 Dec 31, 2022 Diff 2.1 2.8 (0.7) 3.4 3.7 (0.3) 1.8 1.7 0.1 4.1 3.8 0.3 5.8 5.7 0.0 6.0 6.3 (0.3) 17.8 17.6 0.2 2.4 2.3 0.1 43.5 44.0 (0.5) 2.4 1.9 0.5 3.3 3.8 (0.4) 3.7 3.7 (0.0) Total Debt (ST+LT) 20.7 21.2 (0.5) Other Long Term liabilities 4.8 4.7 0.0 Minority 0.8 0.8 (0.0) Teva Shareholders' Equity 7.9 7.9 (0.0) Total Liabilities & Equity 43.5 44.0 (0.5) | 40 | teva#41Q1 2023 Debt Movements $ billions | 41 | 2.5 2.5 21.2 0.6 0.2 20.7 2.1 18.5 Dec 31, 2022 Debt issued Debt tendered Debt repayment FX and Other Mar 31, 2023 Cash balance Mar 31, 2023 Gross Debt Gross Debt Net Debt teva#42teva