2020 Annual Meeting of Stockholders

Full Year 2019 Financial Snapshot¹ Global Reported Sales Adjusted Operating Margin +5% Operational Growth² ~$11.4B ~$11.1B FY 2018 as restated Baxter +140 Basis Points 17.3% 18.7% FY 2018 FY 2019 as restated Adjusted Diluted Earnings per Share +14% $2.91 FY 2018 as restated $3.31 Free Cash Flow³ +4% $1.4B $1.4B FY 2019 FY 2019 ¹Non-GAAP financial metrics referenced in this slide include operational sales growth, adjusted operating margin, adjusted diluted EPS, and free cash flow. A reconciliation to comparable U.S. GAAP measures is available at www.baxter.com. 2FY 2019 operational sales growth excludes the impact of foreign currency of approximately 3% and U.S. cyclophosphamide competition of approximately 0%; U.S. GAAP sales growth for the period was approximately 2% compared to FY 2018. ³Operating cash flows from continuing operations of $2,110 million in 2019 and $2,017 million in 2018 offset by capital expenditures of $696 million in 2019 and $659 million in 2018. FY 2018 FY 2019 as restated 13

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