Business Update & Financial Outlook

Key modeling considerations. • KEYTRUDA • • Anticipate strong year-over-year growth, but not quite at the levels experienced in recent quarters Continue to expect strong volume growth to be partially offset by pricing headwinds, particularly in key European markets In the second quarter, there was a small benefit from wholesaler purchase timing in the U.S. which is expected to reverse in the third quarter GARDASIL Expect the pace of full year growth to be higher in 2023 relative to 2022, with first half growth above that of the second half due in part to the timing of shipments in China MERCK 18

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