Pfizer (PFE) official guidance

Guidance for Adjusted(3) diluted EPS assumes diluted weighted-average shares outstanding of approximately 5.74 billion shares, and assumes no share repurchases in 2026.

Guidance for Adjusted(4) diluted EPS assumes diluted weighted-average shares outstanding of approximately 5.74 billion shares, and assumes no share repurchases in 2026.

Guidance for Adjusted(3) diluted EPS assumes diluted weighted-average shares outstanding of approximately 5.74 billion shares, and assumes no share repurchases in 2026.

Financial guidance for Adjusted(1) diluted EPS is calculated using approximately 5.71 billion weighted-average shares outstanding in 2025 and approximately 5.74 billion weighted-average shares outstanding in 2026, and assumes no share repurchases in 2025 or 2026.

| Effective Tax Rate on Adjusted(3) Income | ~15.0% | | | | ~15.0% |

| Effective Tax Rate on Adjusted(4) Income | Approximately 15.0% |

| Effective Tax Rate on Adjusted(3) Income | Approximately 15.0% |

| Effective Tax Rate on Adjusted(1) Income | Approximately 11% | Approximately 15% |

We are reaffirming all other components of guidance, including adjusted diluted EPS guidance of $2.80-$3.

■Reaffirms Full-Year 2026 Adjusted(3) Diluted EPS Guidance in a Range of $2.80 to $3.00, which Absorbs an Impact of Approximately $0.10 Related to the Innovent Biologics, Inc. Transaction

The company is reaffirming all components of its full-year 2026 guidance previously announced, including Revenues in a range of $59.5 to $62.5 billion and Adjusted Diluted EPS in a Range of $2.80 to $3.00.

We continue to expect total company revenues in the range of $59.5 billion-$62.5 billion and adjusted diluted earnings per share in the range of $2.80-$3.00 a share.

| Adjusted(4) Diluted EPS | $2.80 to $3.00 |

We expect total company full year 2026 revenues to be in the range of $59.5 billion-$62.5 billion, and full year 2026 adjusted diluted earnings per share to be in the range of $2.80-$3.00 a share, which reflects our expectations of strong contributions across our product portfolio.

| Adjusted(3) Diluted EPS | $2.80 to $3.00 |

Pfizer anticipates full-year 2026 Adjusted(1) diluted EPS to be in a range of $2.80 to $3.00.

| Adjusted(3) R&D Expenses ($ in billions) | $10.5 to $11.5 | | | | $10.5 to $11.5 |

| Adjusted(4) R&D Expenses | $10.5 to $11.5 billion |

| Adjusted(3) R&D Expenses | $10.5 to $11.5 billion |

| Adjusted(3) SI&A Expenses ($ in billions) | $12.5 to $13.5 | | | | $12.5 to $13.5 |

| Adjusted(4) SI&A Expenses | $12.5 to $13.5 billion |

| Adjusted(3) SI&A Expenses | $12.5 to $13.5 billion |

■Raises Full-Year 2026 Revenue Guidance(2) by $500 Million at the Midpoint to a Range of $60.5 to $62.5 Billion

The company is reaffirming all components of its full-year 2026 guidance previously announced, including Revenues in a range of $59.5 to $62.5 billion and Adjusted Diluted EPS in a Range of $2.80 to $3.00.

| Revenues | $59.5 to $62.5 billion |

| Revenues | $59.5 to $62.5 billion |

Pfizer anticipates full-year 2026 revenues to be in the range of $59.5 to $62.5 billion, while full-year 2025 revenue guidance(2) is revised to approximately $62.0 billion from the range of $61.0 to $64.0 billion previously.

Current financial guidance does not anticipate any share repurchases in 2026.

Current financial guidance does not anticipate any share repurchases in 2026.

–Absorbs a $650 million Acquired In-Process R&D charge related to the completed licensing agreement with Innovent Biologics, Inc. that will be recorded in the third quarter of 2026 with an expected unfavorable impact of approximately $0.10.

This phase of the cost reduction program (the "program”) is focused on network structure changes, product portfolio enhancements and additional operational efficiencies and is expected to deliver additional anticipated savings of approximately $1.5 billion through 2029, some of which is expected to begin being realized in 2027.

■Announces Additional Anticipated Productivity Enhancement Savings of $2.5 Billion(5) Associated with Ongoing Initiatives, Expected to be Realized From 2027 Through 2029

Pfizer previously announced that it remains on track to deliver anticipated net cost savings from the first phase of this program of approximately $1.5 billion by the end of 2027 and, with the additional targeted savings from this phase, Pfizer now expects total net cost savings of approximately $3.0 billion from this program through 2029.

We have already made meaningful progress on our productivity initiatives and remain on track to deliver the majority of the anticipated $7.2 billion in total net cost savings by the end of 2026.

We are on track to deliver the majority of the anticipated $7.2 billion in total net cost savings from our productivity programs by the end of 2026.

We are targeting a first approval in 2028 from a portfolio that includes ultra-long-acting peptides with the potential, if successful, developed and approved for competitive efficacy and tolerability with a differentiated monthly maintenance dosing schedule.

This outlook reflects our expectation of strong contributions across our product portfolio, adjusted gross margins in the mid-70s range, disciplined cost management, and continued investments to support growth by the end of this decade.

Mid-70s adjusted gross margin, continued focus on strong cost management, all while prioritizing investments in our business to drive growth by the end of this decade.

We intend to advance 10 phase III studies this year.