Investor Presentaiton

Merck updated full-year 2023 guidance. Revenue Non-GAAP Gross Margin Rate Non-GAAP Prior Guidance $58.6B to $59.6B -1% to +1% (+1% to +3% ex-FX) Updated Guidance $59.7B to $60.2B +1% to +2% (+3% to +4% ex-FX) ~77.0% $34.0B to $34.6B ~77.0% $39.8B to $40.4B Operating Expenses¹ Other (Income) / Expense ~$100M of expense ~$200M of expense Tax Rate Shares Outstanding Non-GAAP EPS² ~30.5% to 31.5% ~39.0% to 40.0% ~2.55B $2.95 to $3.05 ~2.55B $1.33 to $1.38 Key Assumptions • Includes approximately $1.3B of LAGEVRIO revenue • Ex-LAGEVRIO, growth of 9% to 10% (11 to 12% ex-FX) Assumes ~2 ppt FX headwind • • Includes additional $5.5B related to upfront charge for the collaboration with Daiichi Sankyo as well as investment to advance the assets Includes updated FX expectations and higher net interest expense related to the Daiichi Sankyo collaboration Includes ~24.5 ppt impact related to business development activity Assumes modest share repurchase Includes $1.70 one-time charge for the Daiichi Sankyo collaboration and an additional $0.04 to advance the assets and finance the transaction Assumes 6 ppt FX headwind (additional $0.05 headwind) 1. Updated guidance includes an aggregate $17.1 billion of R&D expenses related to the Prometheus and Imago acquisitions, and upfront payments for the license and collaboration agreement with Kelun-Biotech and collaboration agreement with Daiichi Sankyo. Guidance does not assume any additional significant potential business development transactions. 2. Updated guidance includes $6.22 of one-time charges related to the Prometheus and Imago acquisitions and upfront payments to Kelun-Biotech and Daiichi Sankyo. MERCK 17

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