Investor Presentaiton

Q3 2023 non-GAAP financial results summary¹ $ in billions, except EPS amounts Q3 2023 Q3 2022 Change Change Ex-FX Sales $16.0 $15.0 +7% +9% Non-GAAP Gross Margin 77.0% 77.0% -0.1pts +0.8pts Non-GAAP Operating $5.8 $6.0 -4% -3% Expenses Non-GAAP Tax Rate 15.0% 13.6% +1.4pts N/A Non-GAAP EPS2,3 $2.13 $1.85 +15% +22% 1. Merck is providing certain 2023 and 2022 non-GAAP information that excludes certain items because of the nature of these items and the impact they have on the analysis of underlying business performance and trends. Management believes that providing this information enhances investors' understanding of the company's results because management uses non-GAAP results to assess performance. Management uses non-GAAP measures internally for planning and forecasting purposes and to measure the performance of the company along with other metrics. In addition, senior management's annual compensation is derived in part using a non-GAAP pre-tax income metric. This information should be considered in addition to, but not as a substitute for or superior to, information prepared in accordance with GAAP. For a description of the non-GAAP adjustments, see Table 2a attached to the earnings release. 2. Q3 2022 includes $690 million of R&D expense for collaborations and licensing agreements with Moderna, Orna and Orion, or $0.22 of negative impact to EPS. 3. Q3 2023 GAAP EPS of $1.86. MERCK 16

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