Investor Presentaiton

Remain committed to balanced capital allocation strategy $ Billions¹ $2.6 Capital allocation order of priority $0.9 $1.9 $0.5 $0.1 After-Tax R&D CapEx Dividends Paid Business Development Share Repurchase 1. Reflects Q3 spend. (ex-divestitures) Continue to invest in our pipeline and business while augmenting our pipeline with value enhancing business development MERCK 18

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