Gilead Sciences (GILD) official guidance

We now expect acquired IPR&D of $11.5 billion, reflecting $300 million lower second quarter expenses associated with the accounting treatment of potential future milestones related to the Tubulis acquisition.

| Non-GAAP projected effective tax rate | 20% | ~ 190% - 140% | ~ 140% - 115% | ~ 220% - 165% |

| Non-GAAP projected effective tax rate | ~ 20% | ~ 190% - 140% | ~ 140% - 115% |

Full year 2026 effective tax rate is expected to be between 140% and 190%, reflecting the nondeductible expenses from the Arcellx, Ouro Medicines, and Tubulis transactions.

| Non-GAAP projected effective tax rate | ~ 20% | ~ 190% - 140% |

We expect full-year 2026 non-GAAP operating income of between $13.8 billion and $14.3 billion, a tax rate of approximately 20% and non-GAAP diluted EPS in the range of $8.45 and $8.85 per share.

| Non-GAAP projected effective tax rate | ~ 20% |

| Non-GAAP diluted loss per share | | $ | (1.20) | | $ | (0.85) | | Previously $(0.65) to $(0.30) |

Overall, we expect full-year non-GAAP EPS between -$0.65 and -$0.30.

On slide 25, you can see that we now expect full year 2026 non-GAAP loss per share in the range of $1.05-$0.65 per share.

| Non-GAAP diluted (loss) earnings per share | | $ | (1.05) | | $ | (0.65) | Previously $8.45 to $8.85 |

We expect full-year 2026 non-GAAP operating income of between $13.8 billion and $14.3 billion, a tax rate of approximately 20% and non-GAAP diluted EPS in the range of $8.45 and $8.85 per share.

| Non-GAAP projected diluted EPS | $8.45 - $8.85 |

We continue to expect both R&D and SG&A expenses to increase a mid-single digit percentage on a dollar basis compared to 2025.

Specifically, we expect R&D expenses to increase a mid-single-digit percentage from 2025, slightly higher than the low single-digit percentage increase shared in our February guidance.

Moving to the non-GAAP P&L for the full-year 2026, we expect product gross margin of approximately 87%, R&D expenses to increase a low single-digit percentage from 2025, acquired IP R&D investments of approximately $300 million, reflecting known commitments associated with prior collaborations and partnerships.

We now expect base business sales to grow approximately 6%-7% year-over-year and range between $29.8 billion and $30.1 billion.

As a result, we are increasing our 2026 base business guidance and now expect a range between $29.4 billion-$29.8 billion. This increase of $400 million results in 5%-6% growth compared to 2025, up from the 4%-5% growth expectation we shared in February.

We therefore expect base business sales between $29 billion-$29.4 billion, growth of 4%-5% compared to 2025.

| Veklury | | ~ $300 | | | | | | Unchanged |

Included in total product sales, we now expect Veklury sales of approximately $300 million compared to approximately $600 million previously, reflecting lower COVID-19 related hospitalizations.

| Veklury | | ~ $300 | | | | | Previously ~ $600 |

Our full year VEKLURY guidance remains unchanged at approximately $600 million, contributing to expected 2026 total product sales between $30 billion and $30.4 billion, an increase of $400 million.

| Veklury | | $ | 600 | | $ | 600 | Unchanged |

We expect total Veklury sales of approximately $600 million, highlighting a $300 million headwind that we expect to more than offset in our base business.

| Veklury | | $ | 600 | | $ | 600 |

We continue to expect approximately $1 billion for Yeztugo sales for the full year.

Given the outperformance of YEZTUGO in the first quarter and our growing confidence in the trends we're seeing, we're increasing our 2026 YEZTUGO guidance to $1 billion, potentially achieving blockbuster status in its first full year.

Additionally, we expect HIV to grow approximately 6% in 2026, and within HIV, we expect 2026 Yeztugo revenue of approximately $800 million.

Moving to total product sales, we have raised the lower end of our range and now expect total product sales in the range of $30.1 billion and $30.4 billion.

Our full year VEKLURY guidance remains unchanged at approximately $600 million, contributing to expected 2026 total product sales between $30 billion and $30.4 billion, an increase of $400 million.

Looking at our full-year guidance on slide 29, we expect 2026 total product sales between $29.6 billion-$30 billion.

We now expect cell therapy to decline mid-teens percentage year-over-year.

Given the strong performance in the first half of the year, we now expect full year 2026 HIV sales to grow between 9% and 10% compared to 2025, up from our prior expectation of 8% and driven by continued strong growth in Biktarvy, Yeztugo, and Descovy.

Reflecting this increase to our YEZTUGO guidance, in addition to first quarter strength across HIV, we are now expecting 2026 total HIV sales, including both treatment and prevention, to grow approximately 8% year-over-year compared to the 6% previously shared in our February guidance.

For 2026, we expect total HIV sales, including both treatment and prevention, to grow approximately 6% compared to 2025, as shown on Slide 12.

We continue to expect both R&D and SG&A expenses to increase a mid-single digit percentage on a dollar basis compared to 2025.

We expect SG&A expenses to remain in line with our February guidance of a mid-single-digit percentage increase compared to 2025, and we expect full year 2026 operating income of $2.4 billion-$2.9 billion.

SG&A expenses to increase by a mid-single-digit percentage relative to 2025, reflecting higher investments in sales and marketing to support our commercial launches, offset in part by lower G&A expenses.

| Acquisition-related, IPR&D impairment, restructuring and other expenses | ~ 2,400 | ~ 3,400 | ~ 5,150 |

| GAAP projected effective tax rate | ~ 21% | ~ (150%) - (220%) | ~ (80%) - (90%) |

| GAAP projected effective tax rate | ~ 21% | ~ (150%) - (220%) |

| GAAP projected effective tax rate | ~ 21% |